Mar 31, 2016
State Bank of India
Corporate Loan : Repayable in 18 Quarterly Installments, Commencing from Dec 2014 and Ending on Mar 2019 First two Quarterly installments of 250.00 Lakhs each & then 4 Quarterly installments each of 350.00 Lakhs then 4 Quarterly installments each of Rs,. 400.00 Lakhs then 4 Quarterly installments each of Rs,. 450.00 Lakhs and Last
1 Quarterly installments each of Rs,. 550.00 Lakhs.
IFCI Ltd
Corporate Loan : Repayable in 18 Quarterly Installments, First 9 Quarterly installments of Rs,. 333.33 Lakhs each & then
2 Quarterly Installments each of Rs,. 500.00 Lakhs commencing from Apr-2016 IFCI Ltd
Corporate Loan : Repayable in 6 equal Quarterly Installments each of Rs,. 750.00 Lakhs Commencing from Feb,2017. IFCI Venture Ltd
Corporate Loan : Repayable in 11 equal Quarterly Installments each of Rs,. 227.27 Lakhs Commencing from Dec,2016. SVC Bank
Term Loan : Repayable in 72 Monthly Installments each of Rs,. 69.45 Lakhs commencing from Feb-2016 RABO Bank
"Term Loan : Repayable in 16 Quarterly Installments commencing from June 2017, First 4 Installments Rs,. 283.00 Lakhs & then 12 Installments of Rs,. 848 Lakhs Refer Note - ii
Secured against Vehicle Purchased under Hire Purchase Agreement.
3 Monthly Installment including interest of Rs,. 1,03,265/- and last Installment including interest of Rs,. 93,749/- commencing from July 2015._
Refer Note (i)
Working Capital facilities from Bank of India, IDBI, State Bank of India & Punjab National Bank._
Secured by first charge on Pari Passu basis on Raw Material, Stock in process, Finished Goods, Stores & Spares, Packing Material and book debts and also secured by second charge by way of equitable mortgage of Fixed Assets of the company comprising of Land, Building and Fixed Machinery situated at Anil Road, Ahmadabad.
i) It is not practical for the company to estimate the timing of cash outflows, if any, in respect of the above pending resolution of the respective proceedings as it is determinable only on receipt of judgments/decisions pending with various forums/authorities.
ii) The Company has reviewed all its pending litigations and proceedings and has adequately provided for where provisions are required and disclosed as contingent liabilities applicable, in its financial statements. The company does not expect the outcomes of these proceedings to have materially adverse affect on its financial results.
(b) The Company uses forward contracts to hedge its risk associated with foreign currency fluctuation. As explained to us, the Company does not use forward contracts for speculative purposes.
(c) The year-end foreign currency exposure that have not been hedged by any derivative instruments or otherwise is as under
4. Inventories are as taken, valued and certified by a Director.
5. In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value stated, if realized in the ordinary course of business and the provisions for depreciation and all known and ascertained liabilities are adequate and not in excess of the amounts reasonably necessary.
6. In the absence of the complete information regarding the status of the suppliers as micro small or medium enterprise as per the micro small and medium enterprise development act 2006, the information regarding the amount due to such parties as on the balance sheet date and provision for interest, if any, required by the said act has not been made.
7. The Company is engaged in manufacturing of starches and its derivatives and hence management is of the opinion that it does not have a reportable primary segment identifiable in accordance with the Accounting Standard 17 issued by the Institute of Chartered Accountants of India.
Secondary Segment : Geographical Segment
The analysis of geographical segment is based on geographical location of the customers. The geographical segments considered for disclosure are as follows:
Sales within India : Sales to Customer located within India.
Sales outside India : Sales to Customer located outside India.
Information pertaining to Secondary Segment.
Cross Revenue from operation as per Geographical Location.
8. Employee Benefits
As per Accounting Standard 15, "Employee Benefits", the disclosures of Employee benefits as defined in the Accounting Standard are given below :
a) Defined Benefit Plans
Contribution to Defined Contribution Plan, recognized as expense for the year is as under :
9. Related Party disclosure as required by AS-18:
Name of the Related Parties and Nature of Relationship where Control Exists Note :- Related Parties have been identified by the management.
SR NO. NAME OF RELATED PARTY (I) Associate company/enterprises where common control exists
1 Anil Bioplus Limited
2 Anil Mines and Minerals Limited
3 Naimesh Trading Pvt. Ltd.
4 Anil Infraplus Limited
5 Anil Technoplus Limited
6 Abner Enterprise Pvt. Ltd.
7 Adella Enterprise Pvt. Ltd.
8 Anil Nutrients Limited
9 Amoha Enterprises Pvt. Ltd.
10 Alana Trading Limited Liability Partnership
11 Vigo Bio-Tech Dairy Pvt Ltd
12 Ascent Lifestyle Pvt Ltd
(II) Subsidiary Companies
1 Anil Bioplus (Europe) BV
2 Anil Mega Food Park Pvt Ltd
3 Anil Life Sciences Limited
4 Aarav Enterprises Pte Ltd
(III) Key Management Personnel
1 Shri Amol S. Sheth [Chairman & Managing Director]
2 Shri Nalinkumar Thakur [Additional Director] ( Appointment Date w.e.f. 6th Nov,2015)
3 Shri Shashin Desai (Resignation Date w.e.f. 6th Nov,2015)
4 Shri Anurag Kothawala (Resignation Date w.e.f. 17th 0ct,2015)
5 Shri Chintan Acharya [CFO]
6 Shri Chandresh Pandya [Company Secretary]
10. Notes on Merger/Demerger
The Board of Directors of the Company in their meeting held on September 2, 2013 had approved the composite scheme of arrangement in the form of merger & demerger of certain undertaking between Anil Bioplus Ltd. and Anil Infraplus Ltd. and Adella Enterprise Pvt. Ltd. and Anil Limited and Anil Life Sciences Ltd. During the year under review the Company had decided not to proceed further in the said scheme of Arrangement and accordingly trated as withdrawn.
11. Certain balance of Trade Receivables, Advance to Suppliers and Advance for Capital Goods are non moving in nature. However, the management is of the view that they are in good condition & realizable in ordinary course of business & therefore no provision is considered necessary in respect of the said non moving debtors.
12. Balance Confirmation from the suppliers, Customers as well as various loans or advances given have been called for, but the same are awaited till date of audit. In view of the same, it is to be stated that balance of receivables, trade payables as well as loans and advance have been taken as per the books of accounts submitted by the company and are subject to confirmation from the respective parties.
13. Previous year''s figures have been regrouped and rearranged wherever necessary, to make them comparable with current year''s figure.
Mar 31, 2015
1. (A) Term Loan /Corporate Loan from Bank of India, State Bank of India,
J & K, IFCI & SVC.
(a) Secured by first charge on Pari Passu basis on entire fixed assets
of the company.
(b) Secured by first charge by way of Hypothecation on specific Plant
and Machinery of the company to Bank of India.
(c) Secured by way of Pari Passu charge on equitable mortgage of fixed
assets of the company comprising of Land, Building and Fixed Machinery
situated at Anil Premises, Anil Road, Bapunagar, Ahmedabad
(B) Repayment Schedule
Bank of India
ECB 5 Million: 3 Installments commencing from Dec-2015 Rs. 620 Lacs
.Dec -2016 Rs. 1240 Lacs and Dec -2017 Rs. 1240 lacs
to make average maturity over 5 years as per RBI Guidelines
Term Loan VIII : 3 Installments commencing from Dec-2015 Rs 500 Lacs,
Dec -2016 Rs 1000 Lacs and Dec -2017 Rs 1000 Lacs
ECB 10 Million : 3 Installments commencing from Dec-2016 Rs 1240 Lacs,
Dec -2017 Rs 2480 Lacs and Dec -2018 Rs 2480 Lacs to make average
maturity over 5 years as per RBI Guidelines
Term Loan X : Repayable in 16 Quarterly Installments each of Rs. 187.50
Lac commencing from quarter ended Jun-2016
State Bank of India
Corporate Loan : Repayable in 18 Quarterly Installments, Commencing
from Dec 2014 and Ending on Mar 2019 First two Quarterly installments
of Rs. 250 Lac each & then 4 Quarterly installments each of Rs. 350 Lac
then 4 Quarterly installments each of Rs. 400 Lac then 4 Quarterly
installments each of Rs. 450 Lac and Last 4 Quarterly installments each
of Rs. 550 Lac
J & K Bank
Corporate Loan : Repayable in 5 Quarterly Installments each of Rs. 500
Lacs Ending on September 2015
IFCI Ltd
Corporate Loan : Repayable in 18 Quarterly Installments, First 9
Quarterly installments of Rs. 333.33 Lac each & then 9
Quarterly Installments each of Rs. 500 Lacs commencing from Apr-2016
SVC Bank
Term Loan : Repayable in 72 Monthly Installments each of Rs. 69.45 Lacs
commencing from Feb-2016
2. Secured against Vehicle Purchase under Hire Purchase Agreement.
30 Monthly Installment including interest of Rs. 2,52,795/- commencing
from August 2013
3. Working Capital facilities from Bank of India, IDBI, State Bank of
India & Punjab National Bank.
Secured by first charge on Pari Passu basis on Raw Material, Stock in
process, Finished Goods, Stores & Spares, Packing Material and book
debts and also secured by way second charge on equitable mortgage of
Fixed Assets of the company comprising of Land, Building and Fixed
Machinery situated at Anil Road, Ahmedabad.
Particulars As At 31st March. As At 31st
2015 March. 2014
a) Contingent Liabilities
(i) Claims against the Company not
acknowledged as Debts 22.88 22.88
(ii) Disputed Sales Tax Demands -
matter under appeal 49.84 49.84
(iii) Disputed Excise Demand - matter
under appeal 5,166.02 5,058.94
(iv) Disputed Custom Duty Demand -
matter under appeal 74.20 Â
(v) Disputed Income Tax Liability -
matter under appeal 1,926.48 1,246.68
(vi) Criminal Suit Filed against
the company in Supreme Court of India 6.51 Â
i) It is not practical for the company to estimate the timing of cash
outflows, if any, in respect of the above pending resolution of the
respective proceedings as it is determinable only on receipt of
judgments/decisions pending with various forums/authorities.
ii) The Company has reviewed all its pending litigations and
proceedings and has adequately provided for where provisions are
required and disclosed as contingent liabilities applicable, in its
financial statements. The company does not expect the outcomes of these
proceedings to have materially adverse affect on its financial results.
(vii) Outstanding Balance of Guarantees of
Rs. 6977.05 Lacs (P.Y. NIL)
given by the Company for loan
taken by other from Banks 6,977.05 Â
(viii) Guarantee limits of Rs. 157 Lacs
(P.Y. Rs. 157.00 lacs) 157.00 157.00
a) Capital Commitments : Estimated amount of contracts remaining to be
executed on capital account [net of advances] and not provided for Rs.
1,900 Lac (P.Y Rs. 2,518 Lac)
4. Pursuant to the requirement of the Companies Act, 2013, effective
from 1st April, 2014 the company has reassessed remaining useful life
of the fixed assets, prescribed by Schedule II of the act, or actual
useful life of the asset whichever is lower. In case of any asset whose
useful life has completed as above, the carrying value (net of residual
value) of Rs. 300.32 lakh (net of deferred tax credit of Rs. 155.15
lakh) has been adjusted in the opening balance of retained earnings as
on 01/04/2014 and in other cases the carrying value has been
depreciated over the remaining of the revised life of the asset and
recognized in the statement of Profit and loss.
5. Inventories are as taken, valued and certified by a Director.
6. In the opinion of the Board of Directors, the current assets, loans
and advances are approximately of the value stated, if realized in the
ordinary course of business and the provisions for depreciation and all
known and ascertained liabilities are adequate and not in excess of the
amounts reasonably necessary.
7. In the absence of the complete information regarding the status of
the suppliers as micro small or medium enterprise as per the micro
small and medium enterprise development act 2006, the information
regarding the amount due to such parties as on the balance sheet date
and provision for interest, if any, required by the said act has not
been made.
8. The Company is engaged in manufacturing of starches and its
derivatives and hence management is of the opinion that it does not
have a reportable primary segment identifiable in accordance with the
Accounting Standard 17 issued by the Institute of Chartered Accountants
of India.
Secondary Segment: Geographical Segment
The analysis of geographical segment is based on geographical location
of the customers. The geographical segments considered for disclosure
are as follows:
Sales within India : Sales to Customer located within India.
Sales outside India : Sales to Customer located outside India.
9. Related Party disclosure as required by AS-18:
Name of the Related Parties and Nature of Relationship where Control
Exists Note Related Parties have been identified by the management.
SR NO. NAME OF RELATED PARTY
(I) Associate company/enterprises where common control exists
1 Anil Bioplus Limited
2 Anil Mines and Minerals Limited
3 Naimesh Trading Pvt. Ltd.
4 Anil Infraplus Limited
5 Anil Technoplus Limited
6 Arav Enterprise Pte. Ltd.
7 Abner Enterprise Pvt. Ltd.
8 Adella Enterprise Pvt. Ltd.
9 Anil Nutrients Limited
10 Amoha Enterprises Pvt. Ltd.
11 Alana Trading Limited Liability Partnership
12 Vigo Bio-Tech Dairy Pvt Ltd
13 Ascent Lifestyle Pvt Ltd
(II) Subsidiary Companies
1 Anil Bioplus (Europe) BV
2 Anil Mega Food Park Pvt Ltd
3 Anil Life Sciences Limited
(III) Key Management Personnel
1 Shri Amol S. Sheth [Chairman & Managing Director]
2 Shri Anurag Kothawala [Whole time Director]
3 Shri Shashin Desai [Executive Director]
4 Shri Chintan Acharya [CFO]
5 Shri Chandresh Pandya [Company Secretary]
10. Notes on Merger/Demerger
The Board of Directors of the Company in their meeting held on
September 2, 2013 had approved the composite scheme of arrangement in
the form of merger & demerger of certain undertaking between Anil
Bioplus Ltd. and Anil Infraplus Ltd. and Adella Enterprise Pvt. Ltd.
and Anil Limited and Anil Life Sciences Ltd. The Company has moved an
application with Bombay Stock Exchange Ltd. for their approval.
However, till the date of audit, no application/ petition is filed with
the Hon'ble High Court of Gujarat.
11. Balance of Trade Receivable, Trade Payables, Unsecured Loans and
Loans & Advances are subject to confirmation from respected parties.
12. Certain balance of Trade Receivables .Advance to Suppliers and
Advance for Capital Goods are non moving in nature. However, the
management is of the view that they are in good condition & realizable
in ordinary course of business & therefore no provision is considered
necessary in respect of the said non moving debtors.
13. Previous year's figures have been regrouped and rearranged wherever
necessary, to make them comparable with current year's figure.
Mar 31, 2013
1. Inventories are as taken, valued and certified by a Director.
2 In the opinion of the Board of Directors, the current assets, loans
and advances are approximately of the value stated, if realized in the
ordinary course of business and the provisions for depreciation and all
known and ascertained liabilities are adequate and not in excess of the
amounts reasonably necessary.
3. In absence of the complete information regarding the status of the
suppliers as micro small or medium enterprise as per the micro small
and medium enterprise development act 2006, the information regarding
the amount due to such parties as on the balance sheet date and
provision for interest if any required by the said act is not been
made.
4. The Company is engaged in manufacturing of starches and its
derivatives and hence management is of the opinion that it does not
have a reportable primary segment identifiable in accordance with the
Accounting Standard 17 issued by the Institute of Chartered Accountants
of India.
5. Related Party disclosure as required by AS-18:
Name of the Related Parties and Nature of Relationship where Control
Exists
(I) Associate company/enterprises where common control exists
1 Anil Bioplus Ltd
2 Anil Tradecom Ltd.
3 Anil Mines & Minerals Ltd
4 Agranil Marketing Ltd
5 Aught Investments Pvt Ltd
6 Rahil Marketing Pvt. Ltd.
7 Agallochun Investments Pvt Ltd
8 Naimesh Trading Pvt Ltd
9 Anil Hospitality Ventures Ltd.
10 Bharti Consumer Marketing Pvt Ltd
11 Ascent Knowledge System Ltd.
12 Anil Nutrients Limited
13 Anil Technoplus Limited
14 Anil Infraplus Limited
15 Anil Life science Limited
16 Abner Entreprise Pvt. Ltd.
17 Adella Entreprise Pvt. Ltd.
(II) Subsidiary Companies
1 Anil Bioplus (Europe) BV
2 Anil Bioplus Afro Asia FZE
(III) 1. Shri Amol Sheth [Managing Director]
6. Previous yeas figures have been regrouped and rearranged wherever
necessary.
Mar 31, 2012
Refer Note - i
0% Convertible Debentures to be Converted in to 8% Redeemable
Preference Shares on or before 31st March 2013. Refer Note - ii
(A) Term Loan from Bank of India, IDBI & Punjab National Bank
(a) Secured by first charge on Pari Passu basis on fixed assets of the
company
(b) Secured by first charge by way of Hypothecation on specific Plant
and Machinery of the company
(c) Secured by way of equitable mortgage of fixed assets of the company
comprising of Land, Building and Fixed Machinery situated at Anil Road
and Lan, Building and Fixed Machinery situated at Village Palanpur,
Taluka Kadi ranking Pari Passu in favour of all banks.
(B) Repayment Schedule IDBI Bank
Term Loan I : Repayble in 20 Installment of Rs. 50 Lac each.
Term Loan II : Repayble in 20 Installment of Rs. 25 Lac each.
Bank of India
Term Loan I : Repayble in 20 Installment ofRs. 25 Lac each.
Term Loan II : Repayble in 8 Installment of Rs. 25 Lac each.
Corporate Loan : Repayable in 12 Installments ofRs. 125 Lac each & Last 4
installments each ofRs. 250 Lac. Punjab National Bank
Term Loan I : Repayable in 12 Installments of Rs. 125 Lac each & Last 4
installments each of Rs. 250 Lac.
Term Loan II : Repayble in 20 Installment of Rs. 25 Lac each.
Term Loan III : Repayble in 20 Installment of Rs. 25 Lac each.
Term Loan IV : Repayble in 20 Installment of Rs. 25 Lac each.
Refer Note - iii
Secured against Vehicle Purchase under Hire Purchase Agreement.
1. Capital Commitments and Contingent Liabilities:
(Rs.In Lacs)
Particular As at 31st As at 31st
March, 2012 March, 2011
Contingent Liabilities
Claims against the Company
not acknowledged as Debts 22.88 22.88
Disputed Sales Tax Demands -
matter under appeal 47.23 47.23
Disputed Excise Demand - matter under appeal 330.23 259.48
Disputed Income Tax Liability
- matter under appeal 46.39 71.62
Guarantees of Rs. 2000 Lacs (P.Y. Rs. 2000 Lacs) given by the Company for
2000.00 2000.00 loan taken by others from banks The balance outstanding
is
Guarantee limits ofRs. 157 Lacs (Previous yearRs. 157.00 lacs) 157.00
157.00
2. Inventories are as taken, valued and certified by a Director.
3 In the opinion of the Board of Directors, the current assets, loans
and advances are approximately of the value stated, if realized in the
ordinary course of business and the provisions for depreciation and all
known and ascertained liabilities are adequate and not in excess of the
amounts reasonably necessary.
4. In absence of the complete information regarding the status of the
suppliers as micro small or medium enterprise as per the micro small
and medium enterprise development act 2006, the information regarding
the amount due to such parties as on the balance sheet date and
provision for interest if any required by the said act is not been
made.
5. The Company is engaged in manufacturing of starches and its
derivatives and hence management is of the opinion that it does not
have a reportable primary segment identifiable in accordance with the
Accounting Standard 17 issued by the Institute of Chartered Accountants
of India.
6. Related Party disclosure as required by AS-18:
Name of the Related Parties and Nature of Relationship where Control
Exists
SR NO. NAME OF RELATED PARTY
(I) Associate company/enterprises where common control exists
1 Anil Bioplus Ltd (Previously known as Anil Biochem ltd)
2 Anil Tradecom Ltd.
3 Anil Mines & Minerals Ltd (Formerly Known as Anil Commodities
limited)
4 Agranil Marketing Ltd
5 Aught Investments Pvt Ltd
6 Rahil Marketing Pvt. Ltd.
7 Agallochun Investments Pvt Ltd
8 Naimesh Trading Pvt Ltd
9 Anil Hospitality Ventures Ltd.
10 Bharti Consumer Marketing Pvt Ltd
11 Ascent Knowledge System Ltd.
12 Anil Nutrients Limited
13 Anil Technoplus Limited
14 Anil Infraplus Limited
15 Anil Life science Limited
(II) 1. Shri Amol Sheth [Chairman & Managing Director]
7. Leases:
(I) In accordance with accounting standard 19 'Leases' issued by
the Institute of Chartered Accountants of India, the assets acquired on
finance lease on or after April 1, 2001 are capitalized and a loan
liability recognized. Consequently, depreciation is provided on such
assets. Installments paid are allocated to the liability and the
interest is charged to the Profit & Loss Account.
(II) Assets acquired on Lease agreements mainly comprise of Computers
and Sap Software. The agreements provide for reimbursement of taxes,
levy, etc. imposed by any authorities in future. There are no
exceptional/ restrictive covenants in the Lease Agreements.
The minimum installments as at 31st March, 2011 and the present value
as at 31st March 2011 of minimum installments in respect of assets
acquired under the Lease Agreements are as follows:
8. Previous year's figures have been regrouped and rearranged wherever
necessary.
Mar 31, 2011
1. Contingent Liability / Capital commitments not provided for in
respect of :
( Rs. In Lacs)
As at 31st As at 31st
March, 2011 March, 2010
Contingent Liabilities
(a) Claims against the Company not
acknowledged as Debts 22.88 22.88
(b) Disputed Sales Tax Demands - matter
under appeal 47.23 47.23
(c) Disputed Excise Demand - matter
under appeal 259.48 273.94
(d) Disputed Income Tax Liability - matter
under appeal 71.62 6.43
(e) Guarantees of Rs. 2000 Lacs (P.Y.
Rs. 2000 Lacs) given by the Company for
loan taken by others from banks The balance
outstanding is 2000.00 2000.00
(f) Guarantee limits of Rs. 157 Lacs
(Previous year Rs. 157.00 lacs) 157.00 157.00
2. Financial and derivative instruments
Derivative Contract enter into by the company and outstanding as at
March 31, 2011
(b) The Company uses forward contracts to hedge its risk associated
with foreign currency fluctuation. The Company does not use forward
contracts for speculative purposes.
3. Inventories are as taken, valued and certified by a Director.
4. No provision is made for book debts of Rs. 291.10 Lacs and loans
and advances of Rs. 80.50 Lacs considered doubtful of recovery.
5. In the opinion of the Board of Directors, the current assets, loans
and advances are approximately of the value stated, if realized in the
ordinary course of business and the provisions for depreciation and all
known and ascertained liabilities are adequate and not in excess of the
amounts reasonably necessary.
6. Certain balance of Debtors, Loans and Advances, Creditors and
Certain Bank balances are being carried forward since long. However in
view of the management same is recoverable / payable and hence no
provision for the same is made in the books of accounts.
7. Secured Loans
I. Term Loan From Bank
(b) Secured by first charge by way of Hypothecation on specific plant
and Machinery of the company.
(c) Secured by way of equitable mortgage of fixed assets of the company
comprising of Land, Building and Fixed Machinery situated at Anil Road
and Land, Building and Fixed Machinery situated at Village Palanpur,
Taluka Kadi ranking Pari Passu in favour of all banks.
8. a) Sundry Debtors Includes dues from Companies in which Directors
of the company are interested Rs. 354.34 lacs (P.Y Rs. 628.18 lacs)
9. In absence of the complete information regarding the status of the
suppliers as micro small or medium enterprise as per the micro small
and medium enterprise development act 2006, the information regarding
the amount due to such parties as on the balance sheet date and
provision for interest if any required by the said act is not been
made.
10. The Company is engaged in manufacturing of starches and its
derivatives and hence management is of the opinion that it does not
have a reportable primary segment identifiable in accordance with the
Accounting Standard 17 issued by the Institute of Chartered Accountants
of India.
11. Related Party disclosure as required by AS-18:
NAME OF THE RELATED PARTIES AND NATURE OF RELATIONSHIP WHERE CONTROL
EXISTS
SR NO. NAME OF RELATED PARTY
(I) ASSOCIATE COMPANY/ENTERPRISES WHERE COMMON CONTROL EXISTS
1 Anil Bioplus Ltd. (Previously known as Anil Biochem Ltd.)
2 Anil Tradecom Ltd.
3 Anil Mines & Minerals Ltd. (Formerly Known as Anil Commodities
Limited)
4 Agranil Marketing Ltd.
5 Aught Investments Pvt. Ltd.
6 Rahil Marketing Pvt. Ltd.
7 Agallochun Investments Pvt. Ltd.
8 Naimesh Trading Pvt. Ltd.
9 Anil Hospitality Ventures Ltd.
10 Bharti Consumer Marketing Pvt Ltd.
11 Ascent Knowledge System Ltd.
12 Anil Nutrients Limited
13 Anil Technoplus Limited
14 Anil Infraplus Limited
15 Anil Life science Limited
16 Anil (Afro-Asia) FZE
17 Anil (Europe) BV
(II) KEY MANAGEMENT PERSONNEL
1 SHRI SHRIPAL C. SHETH CHAIRMAN & MANAGING DIRECTOR
(ceased w.e.f. 26.12.2010)
2 SHRI AMOL S. SHETH CHAIRMAN & MANAGING DIRECTOR
(III) RELATIVES OF KEY MANAGEMENT PERSONNEL
1 SHRI SHREYAS C. SHETH : [Brother of Late Shri Shripal C.Sheth]
(IV) ENTERPRISE IN WHICH RELATIVE OF KEY MANAGEMENT PERSONNEL ARE
INTERESTED
1 AMOL DICALITE LTD
12. Leases:
(I) In accordance with accounting standard 19 ' Leases ' issued by the
Institute of Chartered Accountants of India, the assets acquired on
finance lease on or after April 1, 2001 are capitalized and a loan
liability recognized. Consequently, depreciation is provided on such
assets. Installments paid are allocated to the liability and the
interest is charged to the Profit & Loss Account.
(II) Assets acquired on Lease agreements mainly comprise of Computers
and Sap Software. The agreements provide for reimbursement of taxes,
levy, etc. imposed by any authorities in future. There are no
exceptional/ restrictive covenants in the Lease Agreements.
13. Previous year's figures have been regrouped and rearranged
wherever necessary.
14. Information required in terms of Part IV of Schedule VI to the
Companies Act 1956 as compiled by the Company is attached.
Mar 31, 2010
Particulars 31 st Mar 10 31 st Mar 09
1. Contingent Liability / Capital
Commitments not provided for in respect of:
(a) Claims against the Company not
acknowledged as Debts 22.88 23.58
(b) Disputed Sales Tax Demands - matter
under appeal 47.23 65.16
(c) Disputed Excise Demand - matter
under appeal 273.94 273.89
(d) Disputed Income Tax Liability -
matter under appeal 6.43 3.73
(e) Guarantees of Rs. 2,000 Lacs
(P.Y. Rs. 1,500 Lacs) given by the
Company for loan taken by others from banks,
The balance outstanding is 2000,00 1460.00
(f) Guarantee limits of Rs. 175.00 lacs
(Previous year Rs. 75.00 lacs) 157.00 75,00
{b) The Company uses forward contracts to hedge its risk associated
with foreign currency fluctuation. The Company does not use forward
contracts for speculative purposes.
3. Inventories are as taken, valued and certified by a Director.
4. Finished goods amounting to Rs. 160.86 lacs (P.Y. Rs. 168.51 lacs)
with the consignment agent at close of the year are subject of
confirmations.
5. No provision is made for book debts of Rs. 291.10 Lacs and loans and
advances of Rs. 80.50 Lacs considered doubtful of recovery.
6. In the opinion of the Board of Directors, the current assets, loans
and advances are approximately of the value Stated, if realized in the
ordinary course of business and the provisions for depreciation and all
known and ascertained liabilities are adequate and not in excess of the
amounts reasonably necessary
7. Certain balance of Debtors, Loans and Advances, Creditors and
Certain Bank balances are being carried forward since long. However in
view of the management same is recoverable/payable and hence no
provision for the same is made in the books of accounts.
8. a) Sundry Debtors Includes dues from Companies in which Directors
of the company are interested Rs. 628 18 lacs (P.Y. Rs. 656.53 lacs)
9. in absence of the complete information regarding the status of the
suppliers as micro small or medium enterprise as per the micro small
and medium enterprise development act 2006, the information regarding
the amount due to such parties as on the balance sheet date and
provision for interest if any required by the said act is not been
made.
10. The Company is engaged in manufacturing of starches and its
derivatives and hence management is of the opinion that it does not
have a reportable primary segment identifiable in accordance with the
Accounting Standard 17 issued by the institute of Chartered Accountants
of India.
11. Related Party disclosure as required by AS-18:
NAME OF THE RELATED PARTIES AND NATURE OF RELATIONSHIP WHERE CONTROL
EXISTS
SR NO. NAME OF RELATED PARTY
(l) ASSOCIATE COMPANY/ENTERPRISES WHERE COMMON CONTROL EXISTS
1 ANIL BIOPLUS LTD. (Previously known as ANIL BIOCHEM LTD)
2 ANIL TRADECOM LTD
3 ANIL COMMODITIES LTD
4 AGRANIL MARKETING LTD
5 AUGHT INVESTMENTS PVT LTD
6 RAHIL MARKETING PVT LTD (Previously known as ABLOOM INVESTMENTS PVT
LTD)
7 AGALLGCHUN INVESTMENTS PVT LTD B NAIMESH TRADING PVT LTD
9 ANIL HOSPITALITY VENTURES LTD, (Previous known as ASEEM REALTY PVT
LTD)
10 BHARTI CONSUMER MARKETING PVT LTD
11 ASCENT KNOWLEDGE SYSTEM LTD (Previously known as ASCENT LEARNING PVT
LTD)
12 ANIL NUTRIENTS LIMITED
13 ANIL TECHNOPLUS LIMITED
14 ANIL INFRAPLU8 LIMITED
15 ANIL LIFESCIENCE LIMITED
(II) KEY MANAGEMENT PERSONNEL
1 SHRI SHRIPAL C. SHETH CHAIRMAN & MANAGING DIRECTOR
2 SHRI AMOL S. SHETH MANAGING DIRECTOR
(III) RELATIVES OF KEY MANAGEMENT PERSONNEL
1 SHRI SHREYAS C. SHETH BROTHER OF SHRI SHRIPAL C. SHETH
(IV) ENTERPRISE IN WHICH RELATIVE OF KEY MANAGEMENT PERSONNEL ABE
INTERESTED 1 AMOL DICALITE LTD
12. Leases:
(I) In accordance with accounting standard 19 Leases issued by the
Institute of Chartered Accountants of India, the assets acquired on
finance lease on or after April 1st, 2001 are capitalized and a loan
liability recognized. Consequently, depreciation is provided on such
assets. Installments paid are allocated to the liability and the
interest is charged to the Profit & loss Account.
(II) Assets acquired on Lease agreements mainly comprise of Computers
and Sap Software. The agreements provide tor reimbursement of taxes,
levy, etc. imposed by any authorities in future. There are no
exceptional/ "restrictive covenants in the Lease Agreements.
13, Previous years figures have been regrouped and rearranged wherever
necessary.
14, Information required in terms of Part IV of Schedule VI to the
Companies Act 1956 as compiled by the Company is attached.