Mar 31, 2015
1. Rights, Preferences and restrictions in respect of Equity Shares of
the Company
The Equity Shareholders are entitled to receive dividend as and when
declared, a right to vote in proportion to holding etc. and their
rights, preferences and restrictions are governed by/in terms of their
issue under the provisions of the Companies Act, 1956.
Axis Bank CC Limit (From Banks)
Primary Security : (Exclusive First hypothecation charge over current
assets of the Company both present and future.) Collateral Security :
(Exclusive First charge on machinery financed by AXIS Bank (IInd charge
to SIDBI). Exclusive first charge over entire movable fixed assets of
the Company both present and future. (Excluding Moveable fixed assets
of Baddi unit charged to SIDBI).
Equitable Mortgage over factory land & building at C-53, 54, Sector-57,
Noida in the name of Company. Equitable Mortgage over land & building
at C-67, Sector-57, Noida in the name of Urethane Coaters Pvt. Ltd.
Second Charge over Moveable / Immoveable fixed assets of Company's
Baddi unit. (First Charge with SIDBI)
CASH CREDIT FROM BANKS (SECURED) : Personal Guarantee of Promotor
Directors.
CORPORATE GUARANTEE : M/s. Urethane Coaters Pvt. Ltd.
2. Security
Secured Loan from banks (SIDBI)
First charge on all moveable assets, present and future at Baddi
Location & first charge by way of equitable mortgage in favour of SIDBI
of lease hold rights of all immovable properties of the Company unit
situated at Plot No. 82, Jharmajri, EPIP, Phase-I, Baddi, Himachal
Pradesh & Personal Guarantee of Directors. Unsecured Loan from banks
(HDFC/ICICI/Mahindra & Mahindra Bank Ltd.)
3. Repayment
Loans should be repaid in 54 monthly equal installments for principal
amount after a morotorium of six months from the date of disbursement
of the loan, last installment due December 2015.
Please refer to NOTE-3 for repayment of loans.
4. CONTINGENT LIABILITIES:
Against letter of Credit of Rs. 146.94 Lacs (Previous Year 252.08 Lacs)
from Axis Bank Ltd, Noida.
5. CAPITAL COMMITMENT:
Estimated amount of contracts on capital accounts Rs. 125.00 Lacs
(Previous Year Rs. 87.77 Lacs) remaining to be executed, against which
Rs. 113.98 Lacs (Previous Year Rs. 32.09 Lacs) have been paid as an
advance.
6. In the opinion of the board of directors all current assets, loans &
advances have a value on realization in the ordinary course of business
at least equal to the amount at which they are stated in the Balance
Sheet and schedules thereof and all known liabilities relating to the
year have been provided for.
7. Sundry Debtors, Sundry Creditors, Loans & advances and other
advances are subject to confirmation from parties.
8. Employees Benefits:
The company follows Accounting Standard (AS 15) (Revised 2005)
"Employee Benefits". The disclosure requires as per Revised AS 15 are
as under:
9. Defined Benefit Plan :
The employee's gratuity managed by a trust is a defined benefit trust
the present value of obligation is determined based on the actuarial
valuation using the projected unit credit method, which recognizes each
period of service as giving rise to additional unit of employee benefit
entitlement and measures each unit separately to build up the final
obligation. The obligation for leave encashment is recognized in the
manner as gratuity.
The company follows Accounting Standard (AS 15) (Revised 2005)
"'Employee Benefits". The disclosure require as per the Revised As 15
are as under :
Policy (Noida Unit)
10. Disclosure of details pertaining to related party transactions
entered into during the year in terms of Accounting Standard-18
"Related Party Disclosures".
List of related parties:
i) Companies in which directors are interested:
M/s AMC Coated Fabrics Pvt. Ltd., M/s. Suvij Foils Private Limited and
M/s Dadra-Nagar Steel Pvt. Ltd.
Previous Year (M/s AMC Coated Fabrics Pvt. Ltd.and M/s. Suvij Foils
Private Limited)
ii) Key Management Personnel:
Sh. S.K. Gupta, Sh. Rajeev Gupta
Previous Year: (Sh. S.K. Gupta, Sh. Rajeev Gupta)
iii) Details of transactions between company & the related parties
during the year & the status of outstanding balance as on 31.03.2015.
Transactions during the year (In Rs.)
11. The Company has diversified its business, and went into a joint
venture with a Real Estate Company (Krish Infrastructure Pvt. Ltd.) in
the name of "Krish Icons" (Association of Person), to develop Flats and
Residential Complex in Bhiwadi through a Memorandum of Understanding,
dated February 5, 2013. Further the whole project will be developed and
constructed by the Real Estate Company, wherein in the entire
construction, developments and related cost shall be borne by Amco
India Limited and Krish Infrastructure Pvt. Ltd. in 40:60 ratios
respectively. As at end of the financial of the year the project is in
progress.
12. There are no amounts due and outstanding to be credited to
Investor Education and Protection Fund.
13. Disclosures required under section 22 of Micro, Small and Medium
Enterprises Development Act, 2006.
The Company has compiled this information based on the current
information in its possession. As at 31st March 2015, no supplier has
intimated the Company about its status as a Micro or Small Enterprise
or its registration with the appropriate authority under the Micro,
Small and Medium Enterprises Development Act, 2006.
14. During the current financial year, the business of Bhiwadi unit
has been closed, accordingly fixed asset including land has been sold
and written off where the assets are not identifiable Profit/Loss on
sale/write off of the asset has been charged to revenue account under
the head "Asset written off".
15. The Previous Year's figures have been regrouped and/ or rearranged
wherever considered necessary to make this Comparable with those of the
current year.
Mar 31, 2014
1. CONTINGENT LIABILITIES:
Against letter of Credit of Rs. 252.08 Lacs (Previous Year 225.68 Lacs)
from Axis Bank Ltd, Noida.
2. CAPITAL COMMITMENT:
Estimated amount of contracts on capital accounts Rs.87.77 Lacs
(Previous Year Rs. 98.52 Lacs) remaining to be executed, against which
Rs. 32.09 Lacs (Previous Year Rs. 31.32 Lacs) have been paid as an
advance.
3. OPERATING LEASE:
The company''s significant leasing arrangements are in respect of
operating leases for office premises. The future minimum lease payments
under non-cancelable operating leases in respect of the office
premises, payable as per rentals stated in the agreement as follows:
4. In the opinion of the board of directors all current assets, loans &
advances have a value on realization in the ordinary course of business
at least equal to the amount at which they are stated in the Balance
Sheet and schedules thereof and all known liabilities relating to the
year have been provided for.
5. Sundry Debtors, Sundry Creditors, Loans & advances and other
advances are subject to confirmation from parties.
6. Employees Benefits:
The company follows Accounting Standard (AS 15) (Revised 2005)
"Employee Benefits". The disclosure require as per Revised AS 15 are as
under:
7. Defined Benefit Plan :
The employee''s gratuity managed by a trust is a defined benefit trust
the present value of obligation is determined based on the actuarial
valuation using the projected unit credit method, which recognizes each
period of service as giving rise to additional unit of employee benefit
entitlement and measures each unit separately to build up the final
obligation. The obligation for leave encashment is recognized in the
manner as gratuity.
The company follows Accounting Standard (AS 15) (Revised 2005)
"Employee Benefits". The disclosure require as per the Revised AS 15
are as under :
8. Disclosure of details pertaining to related party transactions
entered into during the year in terms of Accounting Standard-18
"Related Party Disclosures" issued by ICAI:
List of related parties:
i) Companies in which directors are interested:
M/s AMC Coated Fabrics Pvt. Ltd., M/s Urethane Coaters Pvt. Ltd., M/s.
Suvij Foils Private Limited.
ii) Key Management Personnel:
Sh. S.K. Gupta, Sh. Rajeev Gupta
Previous Year: (Sh. S.K. Gupta, Sh. Rajeev Gupta, Sh. S.R.Pahwa, Sh.
Anil Bhargava, & Sh. S.C. Goyal)
9. The Company has diversified its business, and entered into a joint
venture with a Real Estate Company (Krish Infrastructure Pvt. Ltd.) in
the name of "Krish Icons" (Association of Person), to develop Flats and
Residential Complex in Bhiwadi through a Memorandum of Understanding,
dated February 5, 2013. Further the whole project will be developed and
constructed by the Real Estate Company, wherein in the entire
construction, developments and related cost shall be borne by Amco
India Limited and Krish Infrastructure Pvt. Ltd. in 40:60 ratios
respectively.
10. There are no amounts due and outstanding to be credited to Investor
Education and Protection Fund.
11. Disclosures required under section 22 of Micro, Small and Medium
Enterprises Development Act, 2006.
The Company has compiled this information based on the current
information in its possession. As at 31st March 2014, no supplier has
intimated the Company about its status as a Micro or Small Enterprise
or its registration with the appropriate authority under the Micro,
Small and Medium Enterprises Development Act, 2006.
12. During the current financial year, the business of Bhiwadi unit has
been closed, accordingly fixed asset including land has been sold and
written off where the assets are not identifiable Profit/Loss on
sale/write off of the asset has been charged to revenue account under
the head "Asset written off".
13. The Previous Year''s figures have been regrouped and/ or rearranged
wherever considered necessary to make this Comparable with those of the
current year.
Mar 31, 2013
1. CONTINGENT LIABILITIES:
Against letter of Credit of Rs. 225.68 Lacs (Previous Year 519.83 Lacs)
from Axis Bank Ltd, Noida.
2. Estimated amount of contracts on capital accounts Rs.98.52 Lacs
(Previous Year Rs. 3.33 Lacs) remaining to be executed, against which
Rs. 31.32 Lacs (Previous Year Rs. 3.33 Lacs) have been paid as an
advance.
3. OPERATING LEASE:
The company''s significant leasing arrangements are in respect of
operating leases for office premises. The future minimum lease payments
under non-cancelable operating leases in respect of the office
premises, payable as per rentals stated in the agreement as follows:
4. In the opinion of the board of directors all current assets, loans
& advances have a value on realization in the ordinary course of
business at least equal to the amount at which they are stated in the
Balance Sheet and schedules thereof and all known liabilities relating
to the year have been provided for.
5. Legal & Professional charges include Statutory Audit fee of Rs.
2,52,810/-. (Previous Year Rs. 2,48,175/-).
6. Sundry Debtors, Sundry Creditors, Loans & advances and other
advances are subject to confirmation from parties.
7. Employees Benefits:
The company follows Accounting Standard (AS 15) (Revised 2005)
"Employee Benefits". The disclosure require as per Revised As 15
are as under:
8. Disclosure of details pertaining to related party transactions
entered into during the year in terms of Accounting Standard-18
"Related Party Disclosures" issued by ICAI:
a) List of related parties:
i) M/s AMC Coated Fabrics Pvt. Ltd., M/s Urethane Coaters Pvt. Ltd.
ii) Key Management Personnel: Sh. S.K. Gupta, Sh. Rajeev Gupta, Sh.
S.C. Goyal, Sh. Anil Bhargava & Sh. S.R.Pahwa
b) Details of transactions between company & the related parties during
the year & the status of outstanding balance as on 31.03.2013
9. The Company has diversified its business, and entered into a joint
venture with a Real Estate Company (Krish Infrastructure Pvt. Ltd.) in
the name of "Krish Icons" (Association of Person), to develop Flats and
Residential Complex in Bhiwadi through a Memorandum of Understanding,
dated February 5, 2013. Further the whole project will be developed and
constructed by the Real Estate Company, wherein in the entire
construction, developments and related cost shall be borne by Amco
India Limited and Krish Infrastructure Pvt. Ltd. in 40:60 ratios
respectively.
10. There are no amounts due and outstanding to be credited to
Investor Education and Protection Fund.
11. The Previous Year''s figures have been regrouped and/ or rearranged
wherever considered necessary to make this Comparable with those of the
current year.
Business Segment : The business operations of the company comprise PVC
Film, Aluminum Foil and Non Woven. This business segregation forms the
basis for review of operational performance by the management.
Mar 31, 2012
1. Contingent Liabilities: Against letter of Credit of Rs. 519.83 Lacs
from Axis Bank Ltd, Noida and NIL from Canara Bank, Noida (Previous
Year Rs. 478.80 Lacs from Axis Bank Ltd, Noida and Rs. 125.63 Lacs from
Canara Bank, New Delhi).
2. Estimated amount of contracts on capital accounts Rs.3.33 Lacs
(Previous Year Rs. 19.00 lacs) remaining to be executed, against which
Rs.3.33 Lacs (Previous Year Rs. 19.00 lacs) have been paid as an
advance.
3. OPERATING LEASE:
The company''s significant leasing arrangements are in respect of
operating leases for office premises. The future minimum _ lease
payments under non-cancelable operating leases in respect of the office
premises, payable as per rentals stated in the agreement as follows:
4. In the opinion of the board of directors all current assets, loans
& advances have a value on realization in the ordinary course of
business at least equal to the amount at which they are stated in the
Balance Sheet and schedules thereof and all known liabilities relating
to the year have been provided for.
5. Legal & Professional charges include Statutory Audit fee of Rs.
2,25,000/-. (Previous Year Rs. 2,48,175/-).
(B) Defined Benefit Plan:
The employee''s gratuity fund scheme managed by a trust is a defined
benefit plan. The present value of obligation is determined based on
the actuarial valuation using the projected unit credit method which
recognizes each period of service as giving rise to additional unit of
employee benefit entitlement and measures each unit separately to build
up the final obligation. The obligation for leave encashment is
recognized in the manner as gratuity.
6. Sundry Debtors, Sundry Creditors, Loans & advances and other
advances are subject to confirmation from parties.
7. There are no amounts due and outstanding to be credited to
Investor Education and Protection Fund.
8. The Previous Year''s figures have been regrouped and/ or rearranged
wherever considered necessary to make this Comparable with those of the
current year.
Mar 31, 2011
1. Contingent Liabilities: Against letter of Credit of Rs. 478.80
Lacks from Axis Bank Ltd, Noida and Rs. 125.63 Lacks from Canara Bank,
Noida (Previous Year Rs. 115.40 lacks from Axis Bank Ltd, Noida and Rs.
113.08 Lacks from Canara Bank, Noida).
2. Estimated amount of contracts on capital accounts Rs.50.59 Lacks
(Previous Year Rs. 263.83 lacks) remaining to be executed, against
which Rs.34.40 Lacks (Previous Year Rs. 30.53 lacks) have been paid as
an advance.
3. OPERATING LEASE:
The company's significant leasing arrangements are in respect of
operating leases for office premises. The future minimum lease
payments under non-cancelable operating leases in respect of the office
premises, payable as per rentals stated in the agreement as follows:
4. In the opinion of the board of directors all current assets, loans
& advances have a value on realization in the ordinary course of
business at least equal to the amount at which they are stated in the
Balance Sheet and schedules thereof and all known liabilities relating
to the year have been provided for.
5. Legal & Professional charges include Statutory Audit fee of Rs.
2,48,175/-. (Previous Year Rs. 220,600/-).
6. Employees Benefits:
The company follows Accounting Standard (AS 15) (Revised 2005)
"Employee BenefitsÃ. The disclosure require as per Revised AS 15 are as
under:
The above plans are state plans and the company has no obligation to
pay future benefits and its only obligation is to pay contribution as
they fall due.
(B) Defined Benefit Plan The employee's gratuity fund scheme managed by
a trust is a defined benefit plan. The present value of obligation is
determined based on the actuarial valuation using the projected unit
credit method which recognizes each period of service as giving rise to
additional unit of employee benefit entitlement and measures each unit
separately to build up the final obligation. The obligation for leave
encashment is recognized in the manner as gratuity.
The company follows Accounting Standard (AS 15) (Revised 2005)
"Employee BenefitsÃ. The disclosure require as per the Revised AS 15
are as under:
7. Disclosures relating to amounts payable as at the year end together
with interest paid/payable to Micro, Small and Medium Enterprises
Development Act, 2006 to the extent of information available with the
company determined on the basis of intimation received from suppliers
regarding their status and the required disclosure are given below:
Note: The Company has followed Section-II of Part-II of Schedule XIII
of the Companies Act, 1956 for payment of remuneration to directors in
the absence or inadequacy of profits.
8. Disclosure of details pertaining to related party transactions
entered into during the year in terms of Accounting Standared-18
"Related Party Disclosuresà issued by ICAI:
a) List of related parties:
i) M/s AMC Coated Fabrics Pvt. Ltd., M/s Urethane Coaters Pvt. Ltd.
ii) Key Management Personnel: Sh. S.K. Gupta, Sh. Rajeev Gupta, Sh.
S.C. Goyal, Sh. Anil Bhargava, and Sh. S.R. Pahwa.
* Figures in bracket are belongs to previous year.
9. There are no amounts due and outstanding to be credited to
Investor Education and Protection Fund.
10. The Previous Year's figures have been regrouped and/ or rearranged
wherever considered necessary to make this Comparable with those of the
current year.
Mar 31, 2010
1. Contingent Liabilities: Against letter of Credit of Rs. 115.40
Lacks from Axis Bank Ltd.,Noida and Rs.113.08 Lacks from Canara Bank,
Noida (Previous Year Rs. 200.00 lacks from Axis Bank Ltd.,Noida & Rs.
123 lacks from Canana Bank, Noida).
2. Estimated amount of contracts on capital accounts Rs. 263.83 Lacks
(Prev.Year Rs. 335.75 lacks) remaining to be executed, against which
Rs. 30.53 Lacks (Previous Year Rs. 113.67 lacks) have been paid as an
advance.
3. Employees Benefits:
The company follow Accounting Standard (AS 15) (Revised 2005) "Employee
Benefits". The disclosure require as per Revised AS 15 are as under:
The above plans are state plans and the company has no obligation to
pay future benefits and its only obligation is to pay contribution as
they fail due.
(B) Defined Benefit Plan:
The employees gratuity fund scheme managed by a trust is a defined
benefit plan. The present value of obligation is determined based on
the actuarial valuation using the projected unit credit method which
recognizes each period of service as giving rise to additional unit of
employee benefit entitlement and measures each unit separately to build
up the final obligation. The obligation for leave encashment is
recognized in the manner as gratuity.
The company follows Accounting Standard (AS 15) (Revised 2005)
"Employee Benefits. The disclosure require as per the Revised AS 15
are as under:
4. In the opinion of the board of directors all current assets, loans
& advances have a value on realization in the ordinary course of
business at least equal to the amount at which they are stated in the
Balance Sheet and schedules thereof and all known liabilities relating
to year have been provided for.
5. Legal & Professional charges include Statutory Audit fee of Rs.
220,6607- & Rs. 7604/- for audit expenses. (Previous Year Rs.
209,570/-).
6. Sundry Debtors, Sundry Creditors, Loans & advances and other
advances are subject to confirmation from parties.
7. Disclosures relating to amounts payable as at the year end together
with interest paid/payable to Micro, Small and Medium Enterprises
Development Act, 2006 to the extent of information available with the
company determined on the basis of intimation received from suppliers
regarding their status and the required disclosure are given below:
8. REMUNERATIONTO MANAGING DIRECTOR AND EXECUTIVE DIRECTORS
9. COMPUTATION OF NET PROFIT IN ACCORDANCEWITH SECTION 198 READWITH
SEC-349 OFTHE COMPANIES ACT,
1956.
Note: The Company has followed Section-I I of Part-ll of Schedule XIII
of the Companies Act, 1956 for payment of remuneration to directors in
the absence or inadequacy of profits.
10. Disclosure of details pertaining to related party transactions
entered into during the year in terms of Accounting Standared-18
"Related Party Disclosures" issued by ICAI:
a) List of related parties:
i) M/s AMC Coated Fabrics Pvt. Ltd., M/s Urethane Cdaters Pvt. Ltd.
ii) Key Management Personnel: Sh. S.K. Gupta, Sh. Rajeev Gupta, Sh.
S.C. Goyal, Sh. Anil Bhargava Sh.S.R.Pahwa, Sh. S. B. Singh and Mr. S.
P. Dhingra.
b) Details of transactions between company & the related parties during
the year & the status of outstanding balance as Figures in bracket
belongs to previous year.
11. Basic / Diluted Earning Per Share has been calculated by dividing
net profit after taxation for the year as per accounts, which is
attributable to equity shareholders by number of equity shares
outstanding at the end of the year.
12. There are no amounts due and outstanding to be credited to Investor
Education and Protection Fund.
13. The Previous Years figures have been regrouped and/ or rearranged
wherever considered necessary to make this Comparable with those of the
current year.
Note:
Business Segment: The business operations of the company compries PVC
Film.Aluminium Foil and Non Woven. This business segregation forms the
basis for review of operational performance by the management.
NOIDA UNIT: PVC Films / Sheeting Textile Fabrics Lam. to PVC Sheeting (
CCF), Non Woven Fabrics Lam.
BHIWADI UNIT : Aluminium Foils, Non Woven Fabrics Lam.
BADDI UNIT : Aluminium Foils
Information pursuant to paragraph 40 of part II of Schedule VI of the
Companies Act, 1956. a) Value of import calculated on C.I.F. basis
during the Financial year in respect of
Mar 31, 2000
1) Contingent Liabilities not provided for:
a) Estimated amount of contracts remaining to be executed on capital
account not provided for Rs. 47,09,695/- ( Previous Year Rs.
7,76,445/-against which Rs. 13,73,149/- have been paid as an advance.
b) A sum of Rs. 23.19 Lacs (Pr. year Rs. 23.19 Lacs) paid to RIICO
towards the purchase of one sick Industrial unit at the cost of Rs. 92
lacs, and the possession of unit has been taken by the company but the
company wants to repudiate the contract due to undetermined Excise
Liability.
2. In the opinion of the board of directors all current assets, loans
& advances have a value on realisation in the ordinary course of
business at least equal to the amount at which they are stated in the
Balance Sheet and schedules thereof and all well known liabilities
relating to the year have been provided for.
3. Loans from I.D.B.I., P.I.C.U.P. & U.P.F.C. are secured against the
fixed assets and personal guarantees of the directors.
4. No T.D.S. has been deducted on finance charges component in the
instalments paid during the year against purchases of fixed assets on
Hire Purchase Systems from finance companies, since post dated cheques
for instalments including finance charges are given in advance as per
general practice in trade.
5. The unsecured loan of Rs. 60,00,000/- taken from M/s Amco Finance
Ltd. which is under the same manage- ment as defined in sub section
(1-B) of the Section 370 of the Companies Act, 1956 is free of
interest. (Previous Year Rs. 60,00,000/-)
6. Sundry Debtors includes Rs. 7,36,241/- over six months considered
doubtful of recovery due from various parties (Previous Year
Rs.1,18,882.00) However Directors are pursuing for its recovery. No
provision for the same has been made.
7. The maximum amount due during the year from M/s AMC Coated Fabrics
Ltd., which is under the same man- agement as defined in sub section
(1-B) of section 370 of the Companies Act, 1956, is Rs.
6,44,926/-(Previous Year Rs. 3,19,800/-.)
8. Legal & Professional charges include audit fee of Rs. 63,000/-
(Previous Year Rs. 52,500/-).
9. Sundry Debtors, Sundry Creditors, Loan and Advances and other
advances are subject to confirmation from parties.
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