Home  »  Company  »  Ahm. Steelcraft  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Ahmedabad Steelcraft Ltd.

Mar 31, 2014

1. Previous year''s figures have been regrouped / rearranged wherever necessary to make them comparable with current year figures.

2. Figures have been rounded off to the nearest Rupee for the purpose of presentation.

3. Debtors and Creditors balances appearing in the balance sheet are subject to confirmation of respective parties.

4. Managerial Remuneration:

5. Since there are no purchases from S.S.I. Units, there are no outstanding creditors of S.S.I. Units.


Mar 31, 2013

1. Previous year''s figures have been regrouped/rearranged wherever necessary to make them comparable with current year figures.

2. Figures have been rounded off to the nearest Rupee for the purpose of presentation.

3. Debtors and Creditors balances appearing in the balance sheet are subject to confirmation of respective parties.

4. During the year under consideration, an amount of Rs. 3,15,000/- out of total doubtful loans and advances of Rs. 7,00,000/- has been realized during the year through liquidator of insolvent party namely K.P. Textiles. Therefore, the remaining amount of Rs. 3,85,000/- has been written off during the year since not recoverable.

5. Managerial Remuneration:

Details of payment of Remuneration to Managerial personnel in accordance with Schedule XIII of the Companies Act, 1956 included in the Statement of Profit & Loss, are as under.

6. There are no outstanding creditors of S.S.I. Units for more than 30 days at the balance sheet date. There is no purchase from small scale industries.

7. Notes Relating to Investment in Lightworks LLC.

During the F.Y. 2012-13, there is a conversion of 4,37,500 Preference Shares of US $ 1 each fully paid up into 4,37,500 Equity Shares of US $ 1 each fully paid up of Lightworks LLC. The effect of the said conversion has been duly accounted for in the books of accounts and is reflected in "Note-K Non-Current Investments" of Notes forming part of Accounts for the year ended on 31-03-2013. The exchange rate difference so occurred in such conversion has been accounted for and transferred to Foreign Currency Translation Reserve. Further, the Company has also given loan to Lightworks LLC. Company has received interest on loan given to Lightworks LLC and accounted it in books of account as per accounting policies and requirement of accounting standard. Company has made total investment of 818,197 US$ the details of which are as under:


Mar 31, 2012

1. Previous years figures have been regrouped/rearranged wherever necessary to make them comparable with current year figures.

2. Figures have been rounded off to the nearest Rupee for the purpose of presentation.

3. Debtors and Creditors balances appearing in the balance sheet are subject to confirmation of respective parties.

4. During the year under consideration out of the total loans & advances of Rs. 30,94,992 granted, the company, has written of Rs. 23,94,992 since the management is now no more hopefull of recovery of principal amount.

5. There are no outstanding creditors of S.S.I. Units for more than 30 days at the balance sheet date. There is no purchase from small scale industries.


Mar 31, 2011

1. Previous year's figures have been regrouped/rearranged wherever necessary to make them comparable with current year figures.

2. Figures have been rounded off to the nearest Rupee for the purpose of presentation.

3. Debtors and Creditors balances appearing in the balance sheet are subject to confirmation of respective parties.

4. The parties to whom loans & advances amounting Rs.30.94.992/- ( P.Y. Rs.30.94?992/-) ha< e been given have defaulted in payment of interest. However the management is hopeful of recover)' of principal amount only.

5. There is a permanent diminution in the value of unquoted shares of Namtech Systems Ltd of Rs.5.50.000/- and in the value of quoted shares of Galaxy Appliances Ltd (Hindustan Credit Capital Ltd) of Rs.29.000/- totaling to Rs.5.79.000/- which has been provided in the books of account.

7. There are no outstanding creditors of S.S.I. Units for more than 30 days at the balance sheet date. There is no purchase from small scale industries.

8. - The Company has contributed Rs.4,00,00.000/- towards capital in Tesla Properties LLP which has

been shown as '"Investment in the Capital of Partnership Firm'' in Schedule - D "Investments"'. The Company has joined as partner in Tesla Properties LLP with effect from 25.06.2011.

10. During the year 347 no of Common shares of Lightworks LLC - Mongolia, have been received in pursuance of merger of Mongolian Company - Lightworks LLC and other Mongolian Company - AltomineLLC.

11. Notes Relating to Investment in Lightworks LLC.

The Company has made 50% investment in Common Shares and Preference share of Lightworks LLC. Company has also given loan to Lightworks LLC. Company has received interest on loan given to Lightworks LLC and accounted it in books of account as per accounting policies and requirement of accounting standard. Company has made total investment of 924,1001 JS$ the details of which are as under.

13. Information as per part IV of Schedule VI to the Companies Act, 1956.

1) Registration No. 11500 State Code 04 Balance Sheet Date : 31/03/2011

2) Capital raised during the year (Amount in Rupees thousand) Public issue Rs.Nil Right issue Rs.Nil Bonus issue Rs.Nil Private placement Rs.Nil


Mar 31, 2010

1. Previous years figures have been regrouped/rearranged wherever necessary to make them comparable with current years figure.

2. Figures have been rounded off to the nearest Rupees for the purpose of presentation.

3. Debtors and Creditors balances appearing in the balance sheet are subject to confirmation of respective parties.

4. The parties to whom loans & advances amounting Rs. 30,94,992/- have been given have defaulted in payment of interest. However the management is hopeful of recovery of principal amount only.

5. Director have been paid fixed monthly remuneration as minimum remuneration as per Schedule X11I to the Companies Act, 19.56 therefore the computation ot net profit for the purpose of Directors remueration u/s 349 of the Companies Act, 1956 is not necessary.

6. There are no outstanding creditors of S.S.I. Units for more than 30 days at the balance sheet date. There is no purchase from small scale industries.

7. The Company as a partner has made investment of Rs.1,92,50.000/- in the capital of AavkarRealty and the Companys profit sharing ratio is 46% in Aavkar Realty.

8. Information as per part IV of Schedule VI to the Companies Act, 1956.

(1) Registration No. 11500 State Code 04 Balance Sheet Date : 31-3-2010

(2) Capital raised during the year (Amount in Rupees thousand) Public issue Rs. Nil Right issue Rs. Nil

Bonus issue Rs. Nil Private Placement Rs. Nil

(5) Generic names of three principal products/service of Company (as per monetary terms) Item Code No. (ITC Code) 72.16 Product description Mild Steel Door, Windows and Ventilator Sections.

Find IFSC