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Notes to Accounts of Anil Ltd.

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 —

(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 —

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 —

(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.

 
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