| Note 1 - Contingent Liabilities
In respect of Current Year Last Year
Claim against the company not acknowledged as debts 133128.65 133128.65
Note 2
The Company is engaged in the business of manufacturing and laying &
jointing of Asbestos Cement Products, which as per Accounting Standard
-17 and in the opinion of the management, is considered to be the only
reportable business segment. The geographical segmentation is not
relevant.
Note 3
Disclosure in respect of Related Parties pursuant to Accounting
Standard-18 List of Related Parties
DISCLOSURE RELATED PERSON
A. Key Managerial Personnel i) Shri Sanjay Kumar Kanoria, Director
ii) Smt.Priyadarshini Kanoria,Director
B. Name of Related Enterprises i) Kanoria Sugar and General
in which Directors are Manufacturing Company Limited
Interested
ii) Chiraj Stock & Securities Pvt.Ltd.
Note 4
Debit/Credit Balances in Parties Account are subject to confirmation.
Note 5- Micro, Small & Medium Scale business entities
There are Micro, Small and Medium Enterprises, to whom the Company owes
dues, which are outstanding for more than 45 days as at 31st March,
2015. This information is required to be disclosed under the Micro,
Small and Medium Enterprises Development Act, 2006, and have been
determined to the extent such parties have been identified on the basis
of information available with the Company. The outstanding dues which
are more than 45 days old amounting to Rs NIL (Previous Year Rs.NIL ).
Interest paid to others is 1.21 Lacs (Previous year Rs.0.07 Lacs). Tax
deducted at source is Rs.Nil Lacs (Previous year Rs.Nil)
Note 6
In the opinion of the management, all the Current Assets, Loans &
Advances have a value on realization in the ordinary course of business
equal to an amount at which they are stated.
Note 7 - Tax Assessment
Liability, if any, arises on completion of pending assessment in
respect of VAT, Service Tax, Income Tax, etc. will be provided in the
year of completion of such assessment.
Note 8
Consequent to the Notification under the Company's Act, 2013; the
Financial Statements for the year ended on 31st March 2015 are prepared
under the Schedule III of the Companies Act, 2013.
Note 9 - Foreign Exchange Earning and Outgo
There were no export earnings and foreign exchange outflow during the
year Rs. Nil (Previous year Rs. Nil).
Note 10
Additional information pursuant to the provisions of para-3, 4C and 4D
of Para-II of Schedule of VI to the Company's Act,1956.
The Company has entered into an agreement vide letter dated 24th
May,2014 which was later modified by an extension letter dated 20th
May,2015 for sale of land &building as well as part of plant &
machineries to M/s Patni Foams Pvt. Ltd., having its office at shop no.
12, Chetna Apartment 2423 East street Saifee Lane, Camp Pune-411001 at
total consideration of Rs. 165 Lakhs and Rs. 21 Lakhs respectively.
Profit on sale of land & building and part of plant & machinery will be
recognised on finalization of sale and handling over of possession.
Note 11
Previous Year's figures have been regrouped/reclassified wherever
necessary to correspond with the current year's
classification/disclosure.
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