Mar 31, 2015
1. Provision for current tax is made on the basis of estimated taxable
income for the current accounting year in accordance with the Income
Tax Act, 1961.
2. There is no payment due to small scale industries.
e. Sales Tax Department has raised a demand (including interest) of
Rs.49,14,000 (Rupees Forty Nine Lacs Fourteen Thousand Only) in respect
of Sales Tax exemption granted to the Company for the years 1996-97,
1997- 98 and 1998-99. No provision for the said liability is made in
the books of accounts and the Company has preferred an Appeal against
the said Order which is pending. The Company has made an Application to
the Government of Gujarat for granting reliefs as per directions of
Hon'ble BIFR.which is pending before High Power Committee of Government
of Gujarat.
3. Deferred tax Assets/ Liabilities has been provided in a accordance
with the Accounting Standard-22 - "Accounting for taxes on income"
issued by the ICAI applicable with effect from 1st April 2001.The
Deferred tax Assets/(Liabilitiies) as on 31st March, 2015 amounting to
153.43 Lacs is the tax on the difference between the book depreciation
and tax depreciation.
4. Current Assets, Loans & Advances are approximately of the value
stated, if realized in the ordinary course of business.
5. The figures of the previous year are regrouped /rearranged whenever
necessary to correspond with current year figure.
6. 1..AS-18 Related Party Disclosure: Nil
Other parties with whom the company has entered into transaction during
the year.
i) Associates where key management personnel and their relatives have
significant influence;- Nil
ii) Key Management Personnel: a. Narayan Ghumatkar - Managing Director
iii) Relative of Key Management Personnel:- Nil
7. a Value of Imports of CIF basis in 2014-2015 2013-2014
respect of:
Capital Goods Nil Nil
Stores & Spares Nil Nil
b Expenditure in Foreign Currency
on Account Of:
Interest in rupee on foreign Currency Nil Nil
Loans payable
c . F.O.B. Value of Exports Nil Nil.
8. Contingent Liabilities and Commitments (to the extent not provided
for) :
(Rs.in Lacs)
Particular As at 31st As at 31st
March 2015 March 2014
(i) Contingent Liabilities :
(a) Claims against the company
not acknowledge as debt
(b) Guarantees
(i) Bank Guarantee
(ii) Corporate Guarantee Given :
(c ) Other money for which the 12895.00 12895.00
company is contingently liable :
550.00 550.00
Mar 31, 2014
1 a. Provision for current tax is made on the basis of estimated
taxable income for the current accounting year in accordance with the
Income Tax Act, 1961.
b. There is no payment due to small scale industries.
c. Sales Tax Department has raised a demand (including interest) of
Rs. 49,14,000 (Rupees Forty Nine Lacs Fourteen Thousand Only) in
respect of Sales Tax exemption granted to the Company for the years
1996-97, 1997-98 and 1998-99. No provision for the said liability is
made in the books of accounts and the Company has preferred an Appeal
against the said Order which is pending. The Company has made an
Application to the Government of Gujarat for granting reliefs as per
directions of Hon''ble BIFR. which is pending before High Power
Committee of Government of Gujarat.
d. Deferred tax Assets/ Liabilities has been provided in a accordance
with the Accounting Standard-22 - "Accounting for taxes on income"
issued by the ICAI applicable with effect from 1st April 2001.The
Deferred tax Assets/ (Liabilitiies) as on 31st March, 2014 amounting to
108.22 Lacs is the tax on the difference between the book depreciation
and tax depreciation.
e. Current Assets, Loans & Advances are approximately of the value
stated, if realized in the ordinary course of business.
f. The figures of the previous year are regrouped /rearranged whenever
necessary to correspond with current year figure.
g. 1 AS-18 Related Party Disclosure: Nil
h. Contingent Liabilities and Commitments (to the extent not provided
for) :
(Rs. In Lacs)
Particular As at 31st As at 31st
March 2014 March 2013
(i) Contingent Liabilities :
(a) Claims against the company not
acknowledge as debt
(b) Guarantees
(i) Bank Guarantee (ii) Corporate
Guarantee Given : 12895.00 12895.00
(c) Other money for which the company
is contingently liable : 550.00 550.00
Mar 31, 2013
A. Provision for current tax is made on the basis of estimated taxable
income for the current accounting year in accordance with the Income
Tax Act, 1961.
B. There is no payment due to small scale industries. e Sales Tax
Department has raised a demand (including interest) of Rs. 49,14,000
(Rupees Forty Nine Lacs Fourteen Thousand Only) in respect of Sales Tax
exemption granted to the Company for the years 1996-97, 1997-98 and
1998-99. No provision for the said liability is made in the books of
accounts and the Company has preferred an Appeal against the said Order
which is pending. The Company has made an Application to the Government
of Gujarat for granting reliefs as per directions of Hon''ble BIFR.which
is pending before High Power Committee of Government of Gujarat.
C. Deferred tax Assets/ Liabilities has been provided in a accordance
with the Accounting Standard-22 "Accounting for taxes on income" issued
by the ICAI applicable with effectfrom 1st April 2001.The Deferred tax
Assets/(Liabilitiies) as on 31st March, 2013 amounting to 47.73 Lacs is
the tax on the difference between the book depreciation and tax
depreciation.
D. Current Assets, Loans & Advances are approximately of the value
stated, if realized in the ordinary course of business.
E. The figures of the previous year are regrouped /rearranged whenever
necessary to correspond with current year figure.
F. ASÂ18 Related Party Disclosure: Nil
G. Contingent Liabilities and Commitments (to the extent not provided
for) :
(Rs. In Lacs)
Particular As at 31st As at 31st
March 2013 March 2012
(i) Contingent Liabilities :
(a) Claims against the company not
acknowledge as debt
(b) Guarantees
(i) Bank Guarantee (ii) Corporate
Guarantee Given : 12895.00 12895.00
(c) Other money for which the company
is contingently liable : 550.00 550.00
Mar 31, 2012
A. Provision for current tax is made on the basis of estimated taxable
income for the current accounting year in accordance with the Income
Tax Act, 1961.
b. There is no payment due to small scale industries.
c. Sales Tax Department has raised a demand (including interest) of Rs
49,14,000 (Rupees Forty Nine Lacs Fourteen Thousand Only) in respect of
Sales Tax exemption granted to the Company for the years 1996-97,
1997-98 and 1998-99. No provision for the said liability is made in the
books of accounts and the Company has preferred an Appeal against the
said Order which is pending. The Company has made an Application to the
Government of Gujarat for granting reliefs as per directions of Hon'ble
BIFR.which is pending before High Power Committee of Government of
Gujarat.
d. Deferred tax Assets/ Liabilities has been provided in a accordance
with the Accounting Standard - 22 - "Accounting for taxes on in come"
issued by the ICAI applicable with effectfrom 1st April 2001. The
Deferred tax Assets/(Liabilitiies) as on 31st March, 2012 amount ing
to(Rs 11.94 Lacs) is the tax on the difference between the book
depreciationand tax depreciation.
e. Current Assets, Loans & Advances are approximately of the value
stated, if realized in theordinary course of business.
f. The figures of the previous year are regrouped /rearranged whenever
necessary tocorrespond with current year figure.
i. 1. AS-18 Related Party Disclosure: Nil
2. Other parties with whom the company has entered into transaction
during the year.
i) Associates where key management personnel and their relatives have
significant influence;- Nil
ii) Key Management Personnel : a. Jaikumar Mishra - Managing Director
iii) Relative of Key Management Personnel :- Nil
g. Contingent Liabilities and Commitments (to the extent not provided
for) :
(Rs in Lacs)
Particular As at 31st
March 2012 As at 31st
March 2011
(i) Contingent Liabilities :
(a) Claims against the company not
acknowledge as debt
(b) Guarantees
(i) Bank Guarantee
(ii) Corporate Guarantee Given : 12895.00 12895.00
(c) Other money for which the company 550.00 550.00
is contingently liable :
Mar 31, 2011
1. Contingent Liabilities:
a) No provision for gratuity has been made as no employee has put in
the qualifying period of service for entitlement of this benefit.
b) No provision for non fulfillment of Export obligation with Kandla
Free Trade Zone has been made in the books of accounts as Jaybharat
Textiles and Real Estate Ltd, a Promoter Company, has given an
undertaking to Kandla Free Trade Zone for meeting export obligations
worth Rs. 5.55 Crores undertaken by the Company.
c) The Company has given Corporate Guarantee of Rs. 90 Crore in favour of
Bank of India for securing Term Loan granted to Realtime Properties
Ltd, an Associated Company, being subsidiary of Jaybharat Textiles and
Real Estate Ltd, which is a Promoter of the Company.
d) The Company has executed Corporate Gurantees aggregating Rs. 33.40 Cr.
in favour of Indian Overseas Bank, Nariman Point Branch, Mumbai, for
securing the loan granted to KSL and Industries Ltd., Jaybharat
Textiles and Real Estate Ltd., Eskay Knit (India) Ltd. and Krishna
Knitwear Technology Ltd.
2. Provision for current tax is made on the basis of estimated taxable
income for the current accounting year in accordance with the Income
Tax Act, 1961.
3. There is no payment due to small scale industries.
4. Sales Tax Department has raised a demand (including interest) of Rs.
49,14,000 (Rupees Forty Nine Lacs Fourteen Thousand Only) in respect of
Sales Tax exemption granted to the Company for the years 1996-97,
1997-98 and 1998-99. No provision for the said liability is made in the
books of accounts and the Company has preferred an Appeal against the
said Order which is pending. The Company has made an Application to the
Government of Gujarat for granting reliefs as per directions of Honble
BIFR which is pending before High Power Committee of Government of
Gujarat.
5. Deferred tax Assets/ Liabilities has been provided in accordance
with the Accounting Standard-22 Ã "Accounting for taxes on income"
issued by the ICAI applicable with effect from 1st April 2001.The
Deferred tax Assets as on 31st March, 2011 amounting to Rs. 89.67 Lacs is
the tax on the difference between the book depreciation and tax
depreciation.
6. Current Assets, Loans & Advances are approximately of the value
stated, if realized in the ordinary course of business.
7. The figures of the previous year are regrouped /rearranged whenever
necessary to correspond with current year figure.
8. 1. AS-18 Related Party Disclosure: Nil
2. Other parties with whom the Company has entered into transaction
during the year:
i) Associates where Key Management Personnel and their relatives have
significant influence;- Nil
ii) Key Management Personnel: a. Jaikumar Mishra à Managing Director
iii) Relative of Key Management Personnel:- Nil
Mar 31, 2010
1. Contingent Liabilities:
a) No provision for gratuity has been made as no employee has put in
the qualifying period of service for entitlement of this benefit.
b) No provision for non fulfillment of Export obligation with Kandla
Free Trade Zone has been made in the books of accounts as Jaybharat
Textile & Real Estate Ltd a Promoter Company has given an undertaking
to Kandla Free Trade Zone for meeting export obligations worth Rs.5.55
Crores undertaken by the Company.
c) In respect of Corporate Guarantee of Rs.90 Crore in favour of Bank
of for securing Term Loan granted to Real time Properties Ltd, a
subsidiary of Jaybharat Textile & Real Estate Ltd, which is a Promoter
of the Company.
2. Provision for current tax is made on the basis of estimated taxable
income for the current accounting year in accordance with the Income
Tax Act, 1961.
3. There is no payment due to small scale industries. Hi. 49.14 LtCi
4. Sales Tax Department has raised a demand (including interest) of
respect of Sales Tax exemption granted to the Company for the years
1996-97, 1997-98 and 1998-99. No provision for the said liability is
made in the books of accounts and the Company has preferred as Appeal
against the said Order which is pending. BIFR in its order dated
03.05.2006 has taken note of Companys request to repeal the said
demand and period during which the company was sick and could not
continue production be excluded for reckoning the 8 continuous years of
production. Accordingly Company has made an Application to the
Government of Gujrat for granting reliefs as per directions of Honble
BIFR.
5. Deferred tax Assets/ Liabilities has been provided in a accordance
with the Accounting Standard-22 - "Accounting for taxes on income"
issued by the ICAI applicable with effect from 1st April 2001 The
Deferred tax Assets as on 31st March, 2010 amounting to Rs.112.46 Lacs
is the tax on the difference between the book depreciation and tax
depreciation.
6. Current Assets, Loans & Advances are approximately of the value
stated, if realized in the ordinary course of business.
7. The figures of the previous year are regrouped/rearranged whenever
necessary to correspond with current year figure.
8. AS-18 Related Party Disclosure:
1. Related party disclosures as required by AS-18 "Related Party
Disclosures" are given Below: Related parties are as identified by the
Company where significance influence exists: NIL
2. Other parties with whom the company has entered into transaction
during the year.
i) Associates where key management personnel and their relatives have
significant influence; - Nil
ii) Key Management Personnel: a. J.K.MISHRA - Managing Director
iii) Relative of Key Management Personnel: - Nil
Notes:
1. No amount pertaining to Related Parties has been provided for as
doubtful debts. Also, no amount has been written off/written back
during the year.
2. Figures in brackets represent corresponding amount of previous
years.
10. Additional information pursuant to the provisions of paragraphs 3
and 4 in Para II of schedule VI to the Companies Act, 1956.
A. Licensed & Installed Capacity and Production