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)
Mar 31, 2010
1 In the opinion of the Board, Stock in trade and Loans & Advances
forming part of Current Assets are approximately of the value stated,
if realised in the ordinary course of business.
2. The balances of Sundry Debtors, Sundry Creditors and Loans &
Advances secured & unsecured are subject to confirmation.
3. As per the accounting policy 1.5.b followed by the company during
the year, the company has treated the value of the material processed
as sales amounting to Rs. 184.96 lacs and equivalent value as
Consumption of Material. Hence it has no impact on the loss for the
year.
4. The company has recognised earlier years MAT Credit amounting to
Rs. 662674/- during the year in its Profit and loss account as per the
provisions of section 115JAA of the Income Tax Act.
5. The companys decision to recognise deferred tax asset arising on
account of unabsorbed depreciation and business losses and earlier
years MAT Credit is based on the business plan prepared by the
management, which takes into account operations during the year under
audit as compared with last year and also company has received large
order during March 2010. The management is of the opinion that there is
virtual certainty supported by convincing evidence that sufficient
future taxable income will be available against which the deferred tax
asset can be realised. Also the business of the company in the First
quarter during the subsequent year of audit has improved substantially
as compared to the corresponding quarter in the year under audit. Also
company has proposed to launch own compounds/Products which would also
translate to higher profitability, thus from the above management is
confident to post higher profit from the current year.
6. 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.
7. The Company has treated Material received for Toll Compounding as
Purchases and Sales amounting to Rs. 184.96 lacs. This is undertaken on
"Cenvat Duty Paid Basis" under the Companys Excise Registration
Licence. There is no impact on the loss for the year.
8. Disclosure of related party transaction as required by Accounting
Standard à 18 issued by the Institute of Chartered Accountants of
India:
Key Management Personnel and their relatives as on 31.03.2010 are as
under:
Mr B.K.Bodhanwala Chairman Mr A.B.Bodhanwala Managing Director
Dr M.A.Bodhanwala Director
9. Some Vehicles are registered in the name of the Directors of the
company.
a.Earnings Foreign Currency: Rs. Nil (Previous Year Rs Nil)
Expenditure in Foreign
Currency Rs. Nil (Previous year Rs. Nil)
b.Previous years figures have been regrouped, rearranged or recast
wherever necessary.
10. Paise have been rounded off to the nearest rupee.
11. Additional information pursuant to provisions of Schedule VI of
Companies Act, 1956 is given hereunder.
12. Consumption of Raw Material & Consumable Stores is 100% indigenous
only.