| 1 Corporate information
The Company is having its place of Business at Surat.
The Company was incorporated in 7.8.1987 to carry on the activities of
trading & manufacturing of Textiles.
The Company is mainly dealing in textile manufacturing and trading.
2. Note : Car Loan : Kotak Mahindra Prime Ltd. -
(i) The Car Loan from Kotak Mahindra Prime Ltd. Surat was secured by
Hypothecation of the Vehicle financed out of the said agreemet.
Residual repayment period of the said loan is Nil months.
(ii) The Company has not defaulted in repayment of loans and interest
in respect of any of the abovesaid Term Loans.
3. Contingent Liabilities & (Commitments (to the extent not provided
for)
PARTICULARS AS AT AS AT
31.03.2015 31.03.2014
(I) Contingent Liablities
(a) Claims against the company not
acknowledged as debts
- Excise & Customs 256.62 256.62
(b) Letter of Undertaking (LUT) given by
the company towards custom & Excise Duty
saved against Advance license under Duty
Exemption estitilement scheme (DEEC)
The company is in Appeal against
the order made 135.46 135.46
(c) Electiricity Matter
The company is in appeal against
the order of the Appellate com- 35.25 35.25
4. Employees Benefit Plans
The company makes provident fund contribution to defined contribution
plans for qualifying employees. Under the Scheme the company is
required to contribute specified percentage of the payroll costs to
fund the benefits. Gratuity payments will be accounted for on payment
basis.
5. Segment Information
The company is engaged in the business of manufacturing & Trading of
Textile Fabrics which comes under single business segment known as
Textiles.
6. Related Party Transactions
1. Relationships
(a) Key Managerial Personnel
Vijendra Arya
(b) Other related parties
Sunil Fibers Pvt. Ltd.
Geotex Textile Pvt. Ltd.
Sunil Fibers
7. Deferred Tax (Liability) / Asset
Deferred Tax (Liability) / Asset arising from timing difference between
book and taxable profit is accounted for using the prevalent tax rates
and laws as on the balance sheet date. The deferred tax asset is
reconginsed and carried forward only to the extent that there is a
reasonable cetainty that the asset will be realised in' future.
8. Previous Year's Figures
Previous years figures have been regrouped / reclassified wherever
necessary to correspond with the current year's classification /
disclosure.
Notes:
(i) There being no discontinuing business hence the Cash Flow pertains
to continuing operations.
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