| 1. Terms / Rights / restrictions attached to shares:
The Company has only one class of Equity share. Each share has a
paid-up value of Rs. 10/-. Every shareholder is entitled to one vote
per share, except for the holders of Global Depository Receipts /
Global Depository Shares, who don't hold voting right. Equity Share
holders are entitled to Dividends in proportion to their holding, if
declared. In any event Equity Share holders are entitled to receive the
remaining assets of the Company after distribution of all lawful
amounts payable, such distribution will be proportionate to the number
of equity shares held up.
2. Details on each class of shares for a period of five years
immediately preceding the date as at which Balance sheet is prepared.
i. There were no shares allotted for contract without payment being
received in cash during the reporting period nor in the preceding five
years, excepting 12,50,000 of Equity Shares issued under GDR during
Financial Year 2011-12.
ii. No bonus shares were allotted during the reporting period nor in
the preceding five years.
iii. No shares were bought back during the reporting period nor in the
preceding five years.
Common Security:
Term Loans on Fixed Assets:
Term loan facility availed from Bankers are secured by deposit of title
deeds of immovable properties and further secured by paripassu First
Change of Fixed Assets and paripassu Second Charge on Current Assets of
the Company. It carries the base rate of 12% and have a tenure of 6
years.
Specific Asset Security:
Wind Mills:
The Loan is secured by deposit of title deeds of wind mill located at
SF No.23, Thungavi Village, Madathukulam Taluk, Tirupur District,
Tamilnadu with Karur Vysya Bank Limited and repayment started from
November 2011 to August 2018.
Co-gen Power Plant (10MW):
The Loan is availed from State Bank of India is secured by deposit of
title deeds of land located at Marichinaickenpalayam, Pollachi, Tamil
Nadu and paripassu first charge on Co-gen power plant and machineries.
Repayment starting from October 2012 to March 2018.
Corporate loan
The Loan is availed from Karur Vysya Bank Limited is repayable in 60
monthly installments started from November 2015 to October 2020.
Interest for the above Term Loan range between 12 to 15% per annum.
Hire Purchase Loan:
Hire Purchase Loan from HDFC Bank Ltd., Kotak Mahindra Prime Ltd., and
BMW Financial Services India Pvt Ltd., are secured by hypothecation of
the specific asset. The installments vary between each and every HP
Loan and also the terms of repayment / rate of interest / equated
monthly interest. The tenure of HP loan are on average of beyond 30
months.
Working Capital, Packing Credit Loan, Letter of Credit Facilities &
Other Loans from Banks:
The fund based and non-fund based working capital facilities are
secured by a paripassu first charge on all the current assets and
paripassu second charge on fixed assets of the Company. The said loans
are also personally guaranteed by Chairman & Managing Director and two
other Directors
3. DISCLOSURE PURSUANT TO FINANCIAL STATEMENTS-BALANCE SHEET
31.03.2015 31.03.2014
Rs. in lakhs Rs. in lakhs
Disclosures regarding Contingent,
Disputed liabilities and Commitments
Contingent liabilities on:
Factoring / Bills / Cheque Discounting
Facilities Availed 2,182 1,680
Fccb Interest 2,817 2,404
Guarantees To Bankers of Subsidiary
Company towards Standby
Letter of Credit 18,777 18,030
Disputed Statutory Liabilities
Not Provided For:
Central Excise / Service Tax/Sales Tax 120 119
Commitments:
Estimated Amount of Contracts To Be
Executed On Capital Accounts
And Not Provided For Nil Nil
The Company had recognized gratuity payable to working directors and
the liability stand ascertained in accordance of Provisions for Payment
of Gratuity Act, 1972.
N. Income tax assessment status
Income Tax Assessments have been completed up to Assessment year
2013-14.
E. Disclosures relating to Related Party
i) List of the Key Managerial Personnel with whom transactions have
been taken place and relationships
Shri K.C.Pallani Shamy
Shri K.C.P. Shivraman Key Managerial Personnel
Smt. SR. Sudhaa
ii) List of the Other Related Parties
M/s Shriudha Ventures Pte Ltd., Wholly Owned Subsidiary
4. OTHER DISCLOSURES
A. The balances due from receivables, advances made, and payables are
subject to confirmation from the party concerned. In the absence of the
confirmation, the figures are as stated as per the ledger and will be
reconciled in case of any discrepancy
B. In the opinion of the Board of Directors, assets other than fixed
assets and non current investments have the value of realization in the
ordinary course of business, at least equal to amount at which they are
stated
C. In the opinion of the Board of Directors, no amounts are due for
transfer tor to Investor Protection & Education Fund.
D. Figures of the previous year for the stand alone financial
statements have been reworked, regrouped and reclassified wherever
necessary to conform to current year's presentation.
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