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Notes to Accounts of Bala Techno Industries Ltd.

Mar 31, 2014

1. Contingent Liabilities not provided for in respect of Bank Guarantees issued to: West Bengal State Electricity Board – Rs.998967/- (Previous year Rs.743000/-)

2. The break-up of Auditors'' remuneration is as below: Audit fees Rs. 56180 /- (Previous year Rs. 56180/-) Tax audit fees Rs. 112360 /-(Previous year Rs. 112360/-)

3. Sales are stated net of returns but includes VAT, if any.

4. In terms of Accounting Standard 17 of the Institute of Chartered Accountants of India, Segment Information has not been given as Company has no reportable Business or Geographical segment.

5. Related Party disclosures as per Accounting Standard 18 are given below: (i) Name and description of relationship with the related parties.

Key Management Personnel: Nature of Designation

1. Mr. Chandra Prakash Mehra : Chairman

2. Mr. Ashok Mehra: Managing Director

Note: Related Party relationship is as identified by the company and relied upon by the Auditors.

6. On the basis of the information available with the Company there are no Small Scale Industries to whom the Company owes a sum exceeding Rs 100000/ which is outstanding for more than 30 days.

7. In the opinion of the Board and the best of their knowledge and belief the realisable amount of Current Assets and Loans & Advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet. However, the outstanding balances in respect of some of the Trade Receivables, Trade Payables and Loans and Advances are subject to confirmation and reconciliation, if any.

8. Additional depreciation of Rs. 2425263/- for current year (P.Y – Rs. 2425263/-) arising due to revaluation of certain fixed assets is charged to Statement of Profit & Loss.


Mar 31, 2013

1. Contingent Liabilities not provided for in respect of Bank Guarantees issued to: West Bengal State Electricity Board – Rs.743000/- (Previous year Rs.743000/-)

2. The break-up of Auditors'' remuneration is as below: Audit fees Rs. 56180 /- (Previous year Rs. 56180/-) Tax audit fees Rs. 112360 /-(Previous year Rs. 112360/-)

3. Sales are stated net of returns but includes VAT, if any.

4. 15% Non cumulative redeemable Preference Shares of Rs 100/- each are redeemable at any time within a period of twenty years from the date of their issue.

5. In terms of Accounting Standard 17 of the Institute of Chartered Accountants of India, Segment Information has not been given as Company has no reportable Business or Geographical segment.

6. No provision for Income Tax has been considered necessary as the Company has no taxable income in the current year. However provision for minimum alternate tax under Income Tax Act has been made.

7. On the basis of the information available with the Company there are no Small Scale Industries to whom the Company owes a sum exceeding Rs 100000/ which is outstanding for more than 30 days.

8. In the opinion of the Board and the best of their knowledge and belief the realisable amount of Current Assets and Loans & Advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet. However, the outstanding balances in respect of some of the Trade Receivables, Trade Payables and Loans and Advances are subject to confirmation and reconciliation, if any.

9. Additional depreciation of Rs. 2425263/- for current year (P.Y – Rs. 2425263/-) arising due to revaluation of certain fixed assets is charged to Statement of Profit & Loss.


Mar 31, 2012

Terms/Rights attached to Equity Shares

The company has only one class of equity shares having a par value of Rs. 10 per share.

Each holder of equity shares is entitled to one vote per share.

In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company,after distribution of all preferential amounts.

The distribution will be in proportion to the number of equity shares held by the shareholders.

Terms/Rights attached to Non-Cumulative Redeemable Preference Shares

The company has only one class of Non-Cumulative Redeemable Preference Shares, having a par value of Rs.100 per share.

Redemption of fully paid Non-Cumulative Redeemable Preference shares shall be made within 20 years from the date of issue. Such reedemption shall be made out of profits of the company which would otherwise be available for dividend i.e. out of general reserve created by ploughing back of distributable profits or may be made out of the proceeds of a fresh issue of shares made for the purpose of redemption.

* Term Loans are secured by paripassu first charge on all fixed assets of the company and paripassu secondcharge on all current assets of the company alongwith personal guarantee of the two directors, namely Mr. Ashok Mehra and Mr. C.P. Mehra.

Repayable in monthly instalments

Cash Credit is secured by paripassu first charge created through hypothecation of company''s raw materials.Work-in-progress, finished goods, stores and spares meant for domestic sale and also by extension of charge (by way of second paripassu charge) over all fixed assets of the company alongwith personal guarantees of two directors, namely Mr. Ashok Mehra and Mr. C.P.Mehra.

1. Certain Fixed Assets of the Company had been revalued by an approved valuer using going concern concept at net replacement cost basis and the difference of Rs. 52549298/- between revalued amount and net book value of those Fixed Assets as on 1st April, 2005 had been credited to revaluation reserve account of the Company and the same had been reduced to nil by adjusting the same against the debit balance in Profit & Loss Account of the Company as per the Scheme of Amalgamation as sanctioned by Hon''ble High Court at Calcutta.

2. Contingent Liabilities not provided for in respect of Bank Guarantees issued to:

i. West Bengal State Electricity Board-Rs.743000/- (Previous year Rs.743000/-)

ii. Greater Kolkata Gas Supply - Nil (Previous year Rs.945335/-)

3. Stock in Process include Unfinished Tape of Rs.7043513 /-(Previous year Rs 6055716/-) for 1565225 mtrs. (Previous year 1408306 mtrs.).Cost of raw materials sold during the year Nil. (Previous year 714.3 kgs.) is Nil (Previous year Rs 200004.40/-).

4. The break-up of Auditors'' remuneration is as below:

Auditfees Rs. 56180/- (Previous year Rs. 55150/-)

Taxauditfees Rs. 112360 /-(Previous year Rs. 110300/-)

5. Sales are stated net of returns but includes VAT, if any.

6. 15 % Non cumulative redeemable Preference Shares of Rs 100/ - each are redeemable at any time within a period of twenty years from the date of their issue.

7. In terms of Accounting Standard 17 of the Institute of Chartered Accountants of India, Segment Information has not been given as Company has no reportable Business or Geographical segment.

8. No provision for Income Tax has been considered necessary as the Company has no taxable income in the current year. However provision for minimum alternate tax under Income Tax Act has been made.

9. Related Party disclosures as per Accounting Standard 18 are given below:

(i) Name and description of relationship with the related parties.

a) Key Management Personnel : Nature of Designation

1. Mr. Chandra Prakash Mehra : Chairman

2. Mr. Ashok Mehra: Director

b) Enterprises in which of key management personnel or their relatives exist:

1. Pacific Cotspin Ltd.

2. Bala Techno Global Ltd.

3. Atlantic Projects Ltd.

4. Techno Elastics

5. Techno Dyeing and Bleaching Works

6. Mehra Traders

10. On the basis of the information available with the Company there are no Small Scale Industries to whom the Company owes a sum exceeding Rs 100000/ which is outstanding for more than 30 days.

11. In the opinion of the Board and the best of their knowledge and belief the realisable amount of Current Assets and Loans & Advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet. However, the outstanding balances in respect of some of the Sundry Debtors, Sundry Creditors and Loans and Advances are subject to confirmation and reconciliation, if any.

12. Additional depreciation of Rs. 2425263/- for current year (P. Y - Rs. 2425263/-) arising due to revaluation of certain fixed assets is charged to profit & loss account.

13. Figures of the previous year have been regrouped and rearranged, wherever considered necessary.


Mar 31, 2011

1. Certain Fixed Assets of the Company had been revalued by an approved valuer using going concern concept at net replacement cost basis and the difference of Rs. 52549298/- between revalued amount and net book value of those Fixed Assets as on 1st April, 2005 had been credited to revaluation reserve account of the Company and the same had been reduced to nil by adjusting the same against the debit balance in Profit & Loss Account of the Company as per the Scheme of Amalgamation as sanctioned by Hon'ble High Court at Calcutta.

2. Contingent Liabilities not provided for in respect of Bank Guarantees issued to: i. West Bengal State Electricity Board - Rs.743000/- (Previous year Rs.743000/-) ii. Greater Kolkata Gas Supply - Rs.945335/- (Previous year Rs.945335/-)

3. Stock in Process include Unfinished Tape of Rs.6055716 /-(Previous year Rs 5185760/-) for 1408306 mtrs. (Previous year 1329682 mtrs.).Cost of raw materials sold during the year 714.3 kgs. (Previous year 62052 kgs.) is Rs 200004.40 /- (Previous year Rs 9071875/-).

4. The break-up of Auditors' remuneration is as below: Audit fees Rs. 55150 /- (Previous year Rs. 55150/-) Taxauditfees Rs. 110300 /-(Previous vearRs. 110300/-')

5. Sales are stated net of returns but includes VAT, if any.

6.15 % Non cumulative redeemable Preference Shares of Rs 100/- each are redeemable at any time within a period of twenty years from the date of their issue.

7. In terms of Accounting Standard 17 of the Institute of Chartered Accountants of India, Segment Information has not been given as Company has no reportable Business or Geographical segment.

8. No provision for Income Tax has been considered necessary as the Company has no taxable income in the current year. However provision for minimum alternate tax under Income Tax Act has been made.

9. Related Party disclosures as per Accounting Standard 18 are given below: (i) Name and description of relationship with the related parties.

a) Key Management Personnel: Nature of Designation

1. Mr. Chandra PrakashMehra: Chairman

2.Mr.AshokMehra: Managing Director

b) Enterprises in which of key management personnel or their relatives exist:

1. Pacific Cotspin Ltd.

2. Bala Techno Global Ltd.

3. Atlantic Projects Ltd.

4. Techno Elastics

5. Techno Dyeing and Bleaching Works

6. Mehra Traders

Note: Related Party relationship is as identified by the company and relied upon by the Auditors.

10. On the basis of the information available with the Company there are no Small Scale Industries to whom the Company owes a sum exceeding Rs 100000/ which is outstanding for more than 30 days.

11. In the opinion of the Board and the best of their knowledge and belief the realisable amount of Current Assets and Loans & Advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet. However, the outstanding balances in respect of some of the Sundry Debtors, Sundry Creditors and Loans and Advances are subject to confirmation and reconciliation, if any.

12. Additional depreciation of Rs. 2425263/-for currentyear (P.Y - Rs. 2425263/-) arising due to revaluation of certain fixed assets is charged to profit & loss account.

13. Figures of the previous year have been regrouped and rear-ranged, wherever considered necessary.

 
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