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Notes to Accounts of Axel Polymers Ltd.

Mar 31, 2015

1. The secured term loans are secured against

Particulars Security

1. Term loan 1 @15.75% - Personal Guarantee of Directors

2. Working Capital Term Loan - Equitable Mortgage of: @10.50%

3. Funded Interest Term Loan a) Company's property at Moxi, Savli I @9.50%

4. Funded Interest Term Loan b)Residential property at Gautam nagar II @9.50% &JeevanJyotsoc Lalbaug Vadodara

- First charge on all Fixed assets

2. Contingent Liability Rs, lacs

PARTICULARS AS AT 31.03.2015 AS AT31.03.2014

Income Tax 10.83 10.51

3. The company has not received any intimation from the suppliers regarding their status under the Micro, Small and Medium enterprise development Act 2006 and hence disclosures, if any relating to amounts unpaid as at year end together with interest payable as required under the said Act have not been given.

4. Balances of sundry Receivables, Payables, Loan and Advances are subject to confirmation and Cash Balances are verified by the Management of the company.

5. Disclosure of related party transaction as required by Accounting Standard -18 issued by the Institute of Chartered Accountants of India:

Key Management Personnel and their relatives as on 31.03.2015 are as under

Relationship Name

Whole-time Director Mr B.K.Bodhanwala

Managing Director Mr A.B.Bodhanwala

Non-Executive Director Dr M.A.Bodhanwala

Additional Director Mr.G.S.Thanky

Company in which Director is interested Dhara Petrochemicals R Ltd

Firm in which director is interested VR Industries

Note: Related parties and their relationship is as identified by Management and relied upon by the auditors.

6. Previous year's figures have been regrouped, rearranged or recast wherever necessary.

7. EXPENDITURE/EARNINGS IN FOREIGN CURRENCY: NIL (P.Y. Nil)

8. Excise Duty shown under 'expenditure' (note 2.21) represents the aggregate of excise duty borne by the Company and difference between excise duty on opening and closing stocks of finished goods.




Mar 31, 2013

1. Some of the Vehicles are registered in the name of Directors and Employee of the company.

2. The company has not received any intimation from the suppliers regarding their status under the Micro, Small and Medium enterprise development Act 2006 and hence disclosures, if any relating to amounts unpaid as at year end together with interest payable as required under the said Act have not been given.

3. Disclosure of related party transaction as required by Accounting Standard -18 issued by the Institute of Chartered Accountants of India:

Key Management Personnel and their relatives as on 31.03.2012 are as under:

B.K.Bodhanwala - Chairman Mr AB.Botihanwala - Managing Director Dr M.A.Bodhanwala - Director

4. Previous year''s figures have been regrouped, rearranged or recast whereyer necessary.


Mar 31, 2012

1. Some of the Vehicles are registered- the name of Directors and Employee of the company.

2. The company has not received any intimation from the suppliers regarding their status under the Micro, Small and Medium enterprise development Act 2006 and hence disclosures, if any relating to amounts unpaid as at year end together with interest payable as required under the said Act have not been given.

3. During the year, the wholetime Directors have foregone their increase in Salary prior to the same becoming due.

4. Disclosure of related party transaction as required by Accounting Standard -18 issued by the Institute of Chartered Accountants of India:

There are no Associate Concerns and there is no transaction with Relatives.

5. Previous year's figures have been regrouped, rearranged or recast wherever necessary.

6. Earnings Foreign Currency: Rs. 2.05 lacs (Previous Year Rs Nil) Expenditure in Foreign Currency Rs. 3.48 lacs (Previous year Rs. Nil)

 
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