| Note : 1
NATURE OF SECURITY
Term loan amounting to Rs.32,97,253/- (March 31.03.2014 Rs.78,36,517/-)
is secured by Exclusive and specific charge on the assets acquired
under the loan for Land & Factory Shed, Plant & Machinery.
Note : 2
TERMS OF REPAYMENT
Repayable in 77 months Installments commencing from April,2010. Last
Installment due in September,2016. Rate of Interest 13.25% p.a. at year
end.
NOTE : 3
AS Per AS- 18 Related Party Disclosures:
List of related parties with whom transactions have taken place during
the year
STATUS NAME OF THE RELATED PARTY
Holding Company: P & J Cretechem Pvt. Ltd.
Entities having Common
Control (Others): Taurus Chemicals Pvt.Ltd.
Key Managerial Personnel Prakash Chand Jain
Rajesh Pokerna
Sunil Kumar Jain
Sanjay kumar Jain
Relatives Of Key
Managerial Person Alka Devi Jain
Note 4.
Contingent liabilities provided for Rs. Nil. (Previous Year: Rs.
Nil).
Note 5
Retirement Benefit - Gratuity
The company has an unfunded defined contribution gratuity plan. Every
employee who has completed 5 years or more of service is eligible for a
gratuity on departure at 15 days salary (last drawn salary) per each
completed year of service.
Consequent to the adoption of revised AS- 15 Employee Benefits issued
under Companies (Accounting Standards) Amendment Rules 2008, the
following disclosures have been made as required by the standard.
The following tables summaries the component of the net employee
benefit expenses reconginsed in the profit and loss account, and the
fund status and amount recognised in the balance sheet for the gratuity
benefit plan.
Note 6.
The Company has also made provision for Liability related to their
employees who are not covered under the above scheme. The balance of
this Non-Funded Liability as on 31.03.2015 is Rs.9,05,865/- (Previous
year Rs.9,05,865/-).
Note 7.
The Company's significant leasing arrangements are in respect of
operating lease for premises (Residential for Directors & Employees,
Guest House, Offices etc). The leasing arrangements, which are not
non-cancelable, range between 11 months and 3 years generally or longer
and are usually renewable by mutual consent between the parties. The
amount of lease rent paid is debited to Rent Account.
Note 8.
The Company has not received the required information from suppliers
regarding their status under the Micro, Small and Medium Enterprise
Development Act, 2006. Hence, disclosures if any, relating to amounts
unpaid as at the year-end together with interest paid/payable as
required under the said Act have not been made.
Note 9.
Previous Year's figures have been regrouped/ reclassified wherever
necessary to correspond with current year's classification /
disclosure.
The figures have been rounded off to nearest rupee.
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