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Notes to Accounts of Bedmutha Industries Ltd.

Mar 31, 2015

1. Contingent liabilities not provided for in respect of

(Rs. in Lacs) (a)

Particular for the period ended

31st March 31st March 2015 2014

Counter Guarantees given against Bank 1,258.02 109.70 Guarantees.

Assistant Commissioner of Sales Tax (BST), 0.46 0.46 Sales Tax Office, Nashik. (Financial Year 1999-2000)

Custom Excise & Service Tax Appellate 88.76 88.76 Tribunal, Bombay (A.Y.2004-2005)

The Commissioner of Income Tax (Appeals) 14.26 14.26 - 1 Nashik (A.Y. 2011-2012)

Income tax Appellate Tribunal - Pune Decision in 6.23 (A.Y. 2009-2010) Favour of Company

The Commissioner of Income Tax (Appeals) 4.12 NA - 1 Nashik (A.Y. 2012-13)

Ministry of Corporate Affairs, FY 2010-11 Amount not NA & FY 2011-12 ascertained

2. Suppliers/ Service providers covered under Micro, Small Medium Enterprises Development Act. 2006 have not furnished the information the same to the company. In view of this, the information required to be disclosed u/s. 22 of the said Act is not disclosed.

3. Employees Benefit

During the period company paid premium of Rs. 10.90 lacs towards group gratuity for the period 2014-15. (Rs. 08.65 lacs in previous year 2013-14)

4. Related Party Transactions (As required by Accounting Standard 18 "Related Parties Disclosure") I) List of Related Parties and Relationship (As identified by the Management)

(a) Key Managerial Personnel

K R Bedmutha, Chairman

Vijay K. Vedmutha, M. D.

Ajay K. Vedmutha, J. M. D.

(b) Relatives of Key Management

Usha V. Vedmutha

Vinita A.Vedmutha

Divya A. Vedmutha

Yash V Vedmutha

(c) Enterprises over which Key Management Personnel and their relatives exercise significant influence with whom transactions have been taken place during the year

Bedmutha Sons Reality Ventures Pvt. Ltd.

Bedmutha Agro Farms

Kamal Wire Products

K.R. Bedmutha Techno Associates Pvt. Ltd. Elme Plast Co.

Usha's Chemicals Kreepa Steel Industries Bedmutha Chemicals Pvt. Ltd.

(d) Associates

Ashoka Pre-con Private Limited (49%)

(e) Subsidiary Company

Kamalasha Infrastructure & Engineering Private Limited (54.75%)

5. The Company is organized into three segments mainly:

i. Wire & Wire Products

ii. Copper Products

iii. Wind Power Generation

iv. Consultancy **

**As regards to the Consultancy / Contracting activities of the company are carried out in the name of K.R. Bedmutha & Techno Associates.

(During the period, No significant revenue was generated in Consultancy division, Copper Division or Wind Power Generation and hence Segment Reporting is not reported.)

6. Previous Year's figures have been re-grouped and re-arranged as and when necessary.

7. Excess depreciation claimed in previous years have been rectified & reversed in FY 2013-14 as prior period income.

8. Restructuring of Term Loan & Working Capital Loan

Bedmutha Industries Limited is hereinafter refferred to as the 'Borrower' , who has availed various Financial Facilities from the secured lenders.

At the request of the Borrower , the Restricting Proposal ('Proposal ') of the Borrower was referred to Restricting Cell by the consortium of lenders led by the Punjab national Bank . The Restructuring Proposal as recommended by Punjab National Bank, the lead lender and approved by the Restructuring Committee, and communicated vide Provisional Letter of Approval dated 31.03.2015. as amended / modified from time to time . The cut off date for Restructuring Proposal was 01.01.2015.

The Agreement between the Borrower and the Lenders has been executed, by virtue of which the restructed facilities are governed by the provisions specified in the Agreement having cut off date of 01.01.2015

For All the Loans restructed under the above Restructuring Scheme , creation of security is pending at registering authority .

The Restructuring proposal is partly implemented as at 31st March 2015.

The Key features of the Restructuring Proposal are as follows;

1 Restricting of existing fund based and non fund based financial facilities, subject to renewal and reassessment every year

2 Repayment of Restructed Term Loans ( 'RTL') after moratorium of 2 Year from Cut off date in 30 structured quarterly instalments commencing from 31.12.2016 to 31.03.2024

3 Conversion of verious irregular / outstanding financial facilities into Working Capital Term Loan ('WCTL') Repayment of WCTL after moratorium of 2 years from cut of date in 30 structured quarterly instalment commencing from Quarter ending 31.12.2016 to 31.03.2024..

4 The interest payable on RTL and WCTL during moratorium period of 2 years also be converted to Funded Interest Term Loan (FITL), to be paid in 18 structured quarterly instalments commencing form Quarter ending 31.12.2016 to 31.03.2020.

5 The rate of Interest of RTL, CC, WCTL,FITL shall be BR 1.25% TP i.e. 12%, BR 1.75% i.e. 12% , BR & BR i.e. 10.25% respectively

6 Rs. 647.50 lacs contribution of the company to be brought in by promoters in lieu of bank sacrifice.


Mar 31, 2014

1. Non-current Liabilities

Term loans amounting to Rs. 185.62 lacs (March 31, 2013 : Rs. 452.57 lacs) {inclusive of Rs. 157.31 lacs (March 31, 2013 : Rs. 259.22 lacs) grouped under Note No. 8 ; Current Maturities for Long Term Debts} are secured by first pari-passu / equitable mortgage on entire block of assets of the company situated at Plant 1, A 32-35 & 57, STICE, Sinnar, Nashik 422103, Plant 2, A 70-72, STICE, Sinnar, Nashik 422 103, Plant 3, B113, STICE, Sinnar, Nashik 422103, Plant 4, B 140, STICE, Sinnar, Nashik 422 103, and the personal guarantee of Promoter Directors and others.

Term loans amounting to Rs. 12358.76 lacs (March 31, 2013 : Rs. 5764.95 lacs ) {inclusive of Rs. 1249.00 lacs (March 31, 2013 :Nil ) grouped under Note No. 8 are secured by first pari-passu / equitable mortgage on entire block of assets of the company situated at Plant 1, A 32-35 & 57, STICE, Sinnar, Nashik 422103, Plant 2, A 70-72, STICE, Sinnar, Nashik 422 103, Plant 3, B113, STICE, Sinnar, Nashik 422103, Plant 4, B 140, STICE, Sinnar, Nashik 422 103, Gat no. 232,237,29, Rasegaon, Taluka Dindori, Nahsik, Plot No. E 1, Nardana Industrial Estate, Dhule, and personal guarantee of promoter directors Vehicle Loans amounting to Rs. 52.39 lacs ( March 31, 2013 : Rs. 28.57 lacs ) {inclusive of Rs. 8.59 lacs (March 31, 2013 : Rs. 5.56 lacs) grouped under Note No. 8 ; Current Maturities for Long Term Debts} are secured by the way of hypothecation of Vehicle purchased thereunder.

2. Terms of Repayment

Term loan amounting to Rs. 8.30 lacs (March 31, 2013 : Rs. 80.30 lacs) is repayable in 28 quarterly instalments. Last instalment due in May 2014

Term loan amounting to Rs. 47.01 lacs (March 31, 2013 : Rs. 84.41 lacs) is repayable in 60 monthly instalments. Last instalment due in June 2015

Term loan amounting to Rs. 82.35 lacs (March 31, 2013 : Rs. 155.56 lacs) is repayable in 60 monthly instalments. Last instalment due in June 2015

Term loan amounting to Rs. 47.97 lacs (March 31, 2013 : Rs. 92.35 lacs) is repayable in 60 monthly instalments. Last instalment due in May 2015

Term loan amounting to Rs. 1170.02 lacs (March 31, 2013 : Rs. 1073.29 lacs) is repayable in 22 Structured Quarterly Instalments. Last instalment due in June 2019

Term loan amounting to Rs. 2652.16 lacs (March 31, 2013 : Rs. 1469.16 lacs ) is repayable in 22 Quarterly Instalments. Last instalment due in March 2020,

Term loan amounting to Rs. 4578.00 lacs (March 31, 2013 :Rs. 2225.00 lacs)is repayable in 22 Quarterly Instalments. Last instalment due in June 2019

Term loan amounting to Rs. 2550.50 lacs (March 31, 2013 : Rs. 947.50 lacs) is repayable in 22 Quarterly Instalments. Last instalment due in June 2019

Term loan amounting to Rs. 1408.09 lacs (March 31, 2013 : Rs. 50.00 lacs) is repayable in 22 Quarterly Instalments. Last instalment due in December 2019

Vehicle loan amounting to Rs. 9.17 lacs (March 31, 2013 : Rs. 11.71 lacs) is repayable in 59 monthly instalments. Last instalment due in February 2017

Vehicle loan amounting to Rs. 2.31 lacs (March 31, 2013 : Rs. 3.28 lacs) is repayable in 45 monthly instalments. Last instalment due in December 2014

Vehicle loan amounting to Rs. 1.42 lacs (March 31, 2013 : Rs. 3.35 lacs) is repayable in 45 monthly instalments. Last instalment due in November 2014

Vehicle loan amounting to Rs. 5.88 lacs (March 31, 2013 : Rs. 3.35 lacs) is repayable in 84 monthly instalments. Last instalment due in February 2020

Vehicle loan amounting to Rs. 2.25lacs (March 31, 2013 : Rs. 3.29 lacs) is repayable in 45 monthly instalments. Last instalment due in October 2014

Vehicle loan amounting to Rs. 12.12 lacs (March 31, 2013 : Rs. Nil) is repayable in 48 monthly instalments. Last instalment due in September 2017

Vehicle loan amounting to Rs. 17.27 lacs (March 31, 2013 : Rs. Nil) is repayable in 48 monthly instalments. Last instalment due in March 2017

3. Contingent liabilities not provided for in respect of

(Rs. in Lacs) (a)

Particular for the period ended

31st March , 2014 31st March , 2013

Counter Guarantees given against Bank Guarantees. 109.70 242.08

Assistant Commissioner of Sales Tax (BST), Sales Tax Office, 0.46 0.46 Nashik. (Financial Year 1999- 2000)

Custom Excise & Service Tax Appellate Tribunal, Bombay 88.76 88.76 (A.Y.2004-2005)

The Commissioner of Income Tax (Appeals) - 1 Nashik (A.Y. 2011 14.26 NA -2012)

Income tax Appellate Tribunal- Pune (A.Y. 2009-2010) 6.23 -

(b) Claims Outstanding with Banks

Following claims were made by the company which are still outstanding as on the last day of the balance sheet and no confirmation from bank is there on record

Name of Bank Excess Interest / Charges debited by bank

31/03/2014 31/03/2013

a Bank Of India Pune 2.13 4.25

b Bank Of India Mulund - 1.15

c Andhra Bank Nashik - 0.37

d Andhra Bank Mulund - 0.48

e Andhra Bank Pune - 24.09

f Punjab National Bank Pune - 49.63

g Punjab National Bank Nashik 3.06 2.28

Total 5.19 82.25

(c) In Current Year, considering the nature of Letter of Credit & Buyers Credit, Letter of Credit & Buyers Credit outstanding have been regrouped under the head trade payable, similarly previous year figures have been regrouped

4. Suppliers/ Service providers covered under Micro, Small Medium Enterprises Development Act. 2006 have not furnished the information the same to the company. In view of this, the information required to be disclosed u/s. 22 of the said Act is not disclosed.

5. Employees Benefit

During the period company paid premium of Rs. 8.65/- lacs towards group gratuity for the period 2013-14. (Rs. 7.99/- lacs in previous year 2012-13)

6. Related Party Transactions (As required by Accounting Standard AS-18 " Related Parties Disclosure") I) List of Related Parties and Relationship (As identified by the Management)

(a) Key Managerial Personnel :-

Mr. K R Bedmutha, Chairman Mr. Vijay K. Vedmutha, M. D. Mr. Ajay K. Vedmutha, J. M. D.

(b) Relatives of Key Management :-

Mrs. Usha V. Vedmutha Mrs. Vinita A.Vedmutha

(c) Enterprises over which Key Management Personnel and their relatives exercise significant influence with whom transactions havebeen taken place during the year :-

Bedmutha Sons Reality Ventures Pvt. Ltd. Bedmutha Agro Farms Kamal Wire Products K.R. Bedmutha Techno Associates Pvt. Ltd. Elme Plast Co. Kreepa Steel Industries Bedmutha Chemicals Pvt. Ltd.

(d) Associates :-

Ashoka Pre-con Private Limited (49%)

(e) Subsidiary Company :-

Kamalasha Infrastructure & Engineering Private Limited (54.75%)

7. The Company is organized into two segments mainly:

i. Wire & Wire Products

ii Consultancy **

(During the period 1st April 2013 to 31st March 2014, No significant revenue was generated in consultancy division, and hence the same is not reported.)

**As regards to the Consultancy / Contracting activities of the company are carried out in the name of K.R. Bedmutha & Techno Associates.

8. Inventory of land held for trading is transferred to investment in view of the change in its envisaged usage in FY 2012-13

9. Excess depreciation claimed in previous years have been rectified & reversed in current year as prior period income.

10. Previous Year''s figures have been re-grouped and re-arranged as and when necessary.

11. Significant accounting policies and practices adopted by the Company are disclosed in the statement annexed to these financial statements as per Annexure I


Mar 31, 2013

1. Suppliers/ Service providers covered under Micro, Small Medium Enterprises Development Act. 2006 have not furnished the information the same to the company. In view of this, the information required to be disclosed u/s. 22 of the said Act is not disclosed.

2. Employees Benefit

During the period company paid premium of Rs. 7.99/ lacs towards group gratuity for the period 201213. (Rs. 6.64 lacs in previous year 201112)

3. Related Party Transactions (As required by Accounting Standard AS18 " Related Parties Disclosure")

I) List of Related Parties and Relationship (As identified by the Management)

(a) KeyManagerial Personnel : Mr. K R Bedmutha, Chairman

Mr. Vijay K. Vedmutha, M. D. Mr. Ajay K. Vedmutha, J. M. D.

(b) Relatives of Key Management : Mrs. Usha V. Vedmutha

Mrs. Vinita A.Vedmutha

(c) Enterprises over which Key Management Personnel : Bedmutha Sons Reality Ventures Pvt. Ltd. and their relatives exercise significant influence Bedmutha Agro Farms with whom transactions have been taken place Kamal Wire Products during the year K R Bedmutha Techno Associates Pvt. Ltd.

Elme Plast Co. Kreepa Steel Industries Bedmutha Chemicals Pvt. Ltd.

(d) Associates : Ashoka Precon Private Limited (49%)

(e) Subsidiary Company : Kamalasha Infrastructure & Engineering Private Limited (54.75%)

4. The Company is organized into two segments mainly:

i. Wire & Wire Products

ii. Consultancy **

(During the period 1st April 2012 to 31st March 2013, No significant revenue was generated in consultancy division, and hence the same is not reported.)

**As regards to the Consultancy / Contracting activities of the company are carried out in the name of K.R. Bedmutha & Techno Associates.

5. Inventory of land held for trading is transferred to investment in view of the change in its envisaged usage.

6. The company has some of its bank accounts in the name of Shriram Wire Private Limited, Kamdhenu Wire Private Limited and Ajay Wire Private Limited, these companies have been amalgamated to Bedmutha Industries Limited in Financial Year 200708.

7. Previous Year''s figures have been regrouped and rearranged as and when necessary.


Mar 31, 2012

NOTE - 1

Nature of Security

Term loans amounting to Rs. 463.66 lacs (March 31, 2011 : Rs. 825.78 lacs are secured by first pari-passu/equitable mortgage on entire block of assets of the company situated at Plant 1, A 32-35 & 57, STICE, Sinnar, Nashik 422103, Plant 2, A 70-72, STICE, Sinnar, Nashik 422 103, Plant 3, B113, STICE, Sinnar, Nashik 422103, Plant 4, B 140, STICE, Sinnar, Nashik 422 103, and the personal guarantee of Promoter Directors and others.

Term loans amounting to Rs. 593.09 lacs (March 31, 2011 : Rs. Nil are secured by first pari-passu/equitable mortgage on entire block of assets of the company situated at Plant 1, A 32-35 & 57, STICE, Sinnar, Nashik 422103, Plant 2, A 70-72, STICE, Sinnar, Nashik 422 103, Plant 3, B113, STICE, Sinnar, Nashik 422103, Plant 4, B 140, STICE, Sinnar, Nashik 422 103, Gat no. 232,237,29, Rasegaon, Taluka Dindori, Nahsik, Plot No. E 1, Nardana Industrial Estate, Dhule, Second Paripassu charge over windmill and current assets and personal guarantee of promoter directors Vehicle Loans are secured by the way of hypothecation of Vehicle purchased thereunder.

Terms of Repayment

Term loan amounting to Rs. 80.30 lacs (March 31, 2011 : Rs. 152.30 lacs) is repayable in 28 quarterly instalments. Last instalment due in March 2014

Term loan amounting to Rs. 107.41 lacs (March 31, 2011 : Rs. 144.42 lacs) is repayable in 60 monthly instalments. Last instalment due in December 2014

Term loan amounting to Rs. 143.00 lacs (March 31, 2011 : Rs. 208.62 lacs) is repayable in 60 monthly instalments. Last instalment due in December 2014

Term loan amounting to Rs. 9.83 lacs (March 31, 2011 : Rs. 58.46 lacs) is repayable in 60 monthly instalments. Last instalment due in October 2012

Term loan amounting to Rs. 92.74 lacs (March 31, 2011 : Rs. 137.37 lacs) is repayable in 60 monthly instalments. Last instalment due in December 2014

Term loan amounting to Rs. 30.38 lacs (March 31, 2011 : Rs. 75.98 lacs) is repayable in 60 monthly instalments. Last instalment due in September 2013

Term loan amounting to Rs. 243.09 lacs (March 31, 2011 : Rs. Nil) is repayable in 24 Structured Quarterly Instalments. Last instalment due in July 2019

Term loan amounting to Rs. 350.00 lacs (March 31, 2011 : Rs. Nil) is repayable in 24 Quarterly Instalments. Last instalment due in March 2020

Vehicle loan amounting to Rs. 11.71 lacs (March 31, 2011 : Rs. Nil) is repayable in 59 monthly instalments. Last instalment due in February 2017

Vehicle loan amounting to Rs. 3.28 lacs (March 31, 2011 : Rs. 4.13 lacs) is repayable in 45 monthly instalments. Last instalment due in December 2014

Vehicle loan amounting to Rs. 3.36 lacs (March 31, 2011 : Rs. 4.27 lacs) is repayable in 45 monthly instalments. Last instalment due in November 2014

Vehicle loan amounting to Rs. 3.28 lacs (March 31, 2011 : Rs. 4.19 lacs) is repayable in 45 monthly instalments. Last instalment due in October 2014

2. Contingent liabilities not provided for in respect of

(a) For the year ended

Particular 31st March , 2012 31st March , 2011

Counter Guarantees given against Bank Guarantees. 237.53 202.29

Corporate Guarantee given on behalf of Subsidiary Company, 208.22 2,793.00

Kamalasha Infrastructure & Engineering Pvt. Ltd.

Corporate Guarantee given on behalf of Associate Company, 90.20 450.80

Ashoka Pre-con Private Ltd.

Income Tax Department- Tax Deducted at Sources, Nashik (A.Y.2008-09) - 0.70

Income Tax Department, Nashik (A.Y. 2004-05) - 27.33

Income Tax Department, Nashik (A.Y. 2004-05) No demand notice (Reassessment u/s 148 received from Income Tax

Income Tax Department, Nashik (A.Y. 2009-10) 6.23 -

Custom Excise & Service Tax Appellate Tribunal, Bombay 84.17 84.17

(A.Y.2004-2005)

3. Suppliers/ Service providers covered under Micro, Small Medium Enterprises Development Act. 2006 have not furnished the information the same to the company. In view of this, the information required to be disclosed u/s. 22 of the said Act is not disclosed.

4. Employees Benefit

During the period company paid premium of Rs. 6.64/- lacs towards group gratuity for the period 2011-12. (Rs. 4.50 lacs in previous year 2010-11)

5. Related Party Transactions (As required by Accounting Standard AS-18 "Related Parties Disclosure") I) List of Related Parties and Relationship (As identified by the Management)

(a) Key Managerial Personnel : Mr. K R Bedmutha, Chairman Mr. Vijay K. Vedmutha, M. D. Mr. Ajay K. Vedmutha, J. M. D.

(b) Relatives of Key Management: Mrs. Usha V. Vedmutha

Mrs. Vinita A.Vedmutha

(c) Enterprises over which : Bedmutha Sons Reality Ventures Pvt. Key Management Personnel Ltd. and their relatives exercise significant influence with whom transactions have been taken place during the year

Bedmutha Agro Farms

Kamal Wire Products

K.R. Bedmutha Techno Associates Pvt. Ltd.

Elme Plast Co.

Kreepa Steel Industries

Bedmutha Chemicals Pvt. Ltd.

(d) Associates : Ashoka Pre-con Private Limited (49%)

(e) Subsidiary Company : Kamalasha Infrastructure & Engineering Private Limited (54.75%)

6. The Company is organized into two segments mainly:

i. Wire & Wire Products

ii. Consultancy **

(During the period 1st April 2010 to 31st March 2011, No significant revenue was generated in consultancy division, and hence the same is not reported.)

**As regards to the Consultancy/Contracting activities of the company are carried out in the name of K.R. Bedmutha & Techno Associates.

7. The Company has some of its bank accounts in the name of Shriram Wire Private Limited, Kamdhenu Wire Private Limited and Ajay Wire Private Limited, these companies have been amalgamated to Bedmutha Industries Limited in Financial Year 2007-08.

8. The financial statement for the year ended 31st March 2011 had been prepared as per the then applicable, pre- revised Schedule VI to the Companies Act, 1956. Consequent to the notification under the Companies Act, 1956, the financial statements for the year ended 31st March 2012 are prepared under revised Schedule VI. Accordingly, the previous year figures have also been reclassified to confirm to this year's classificaiton

9. Significant accounting policies and practices adopted by the Company are disclosed in the statement annexed to these financial statements as per Annexure I


Mar 31, 2011

1. Share Capital

i 2,211 Equity Shares of Rs. 100 each fully paid were allotted to Vijay Vedmutha against purchase of Plant and Machinery on 25* February 1993.

ii 75,000 Equity Shares of Rs. 10 each were issued as Bonus Shares in ratio of 3 : 1 on 27th March 1997.

iii Company has subdivided the Equity Shares of Rs. 100 each into Equity Shares of Rs.10 each on 1st September 1998

iv 16,43,768 Equity Shares of Rs 10 were allotted to Vijay Vedmutha against takeover of Kamal Wire Drawings (Proprietor Mr.Vijay Vedmutha) on 1st October 1998.

v 50,000 Equity Shares of Rs.10 each were allotted to Ajay Vedmutha for takeover of Testing Engineering and Associates (Proprietor Mr. Ajay Vedmutha) on 1st April 2000.

vi 33,49,488 Equity Shares of Rs. 10 each fully paid were issued as Bonus Shares in ratio of 1 :1 on 19th March 2008.

vii 22,96,862 Equity Shares of Rs. 10 each fully paid up issued on 5th December 2008, to Shareholders of Shriram Wire Private Limited, Kamdhenu Wire Private Limited and Ajay Wire Products Private Limited pursuant to Scheme of amalgamation.

viii 30,06,850 Equity Shares of Rs. 10 each fully paid were issued as Bonus Shares in ratio of 1:3 on 31st October 2009.

2. Secured Loans

i Term loans are secured by first pari-passu / equitable mortgage on entire block of assets of the company situated at Bedmutha Industries Limited Plant 1, A 32-35 & 57,STICE,Sinnar,Nashik422103, Bedmutha Industries Limited Plant 2, A 70-72, STICE,Sinnar, Nashik422 103,Bedmutha Industries Limited Plant 3, B113,STICE, Sinnar, Nashik 422103, Bedmutha Industries Limited Plant 4, B 140, STICE, Sinnar, Nashik 422 103, and the personal guarantee of Directors, Mr. Vijay Vedmutha, Mr. Ajay Vedmutha and Guarantor Mrs.Vinita Vedmutha and Mrs. Usha Vedmutha.

ii Working Capital loans are secured by way of hypothecation of Current Assets and extention of second pari passu charge on the movable and non-movable fixed assets excluding windmill and vehicles charged to other banks.

iii Vehicle Loans are secured by the way of hypothecation of Vehicle purchased thereunder.

3. Contingent liabilities not provided for in respect of

(Rs. in Lacs)

Particular For the year ended

31st March, 31st March,

2011 2010

Counter Guarantees given against Bank Guarantees. 202.29 25.18

Corporate Guarantee given on behalf of Subsidiary Company, Kamalasha Infrastructure & Engineering Pvt. Ltd. 2,793.00 2,793.00

Corporate Guarantee given on behalf of Associate Company, Ashoka Pre-con Private Ltd. 450.80 450.80

Income Tax Department-Tax Deducted at Sources, Nashik (A.Y. 2008-09) 0.70 -

Income Tax Department, Nashik (A.Y. 2004-05) 27.33 -

Custom Excise & Service Tax Appellate Tribunal, Bombay (A.Y.2004-2005) 84.17 84.17

7. Based on the information available with the company in respect of MSME (as defined in the Micro Small & Medium Enterprise Development Act, 2006) there are no delays in payment of dues to such enterprises during the year. The above information regarding Micro Small & Medium Enterprises has been determined to the extent such parties have been identified on the basis of information available with the company. This has been relied upon by the auditors.

8. Employees Benefit

During the period company paid premium of Rs 4.50 lacs towards group gratuity for the period 2010-11 Rs. 4,50,452/-

9. Accounting Standards

The company has in general followed the accounting standards by the institute of the Chartered Accountants of India.

10. Related Party Transactions (As required by Accounting Standard AS-18" Related Parties Disclosure") I) List of Related Parties and Relationship (As identified by the Management)

(a) Key Managerial Personnel - Mr. K R Bedmutha, Chairman

Mr. Vijay K. Vedmutha, M.D.

Mr.Ajay K. Vedmutha, J. M.D.

(b) Relatives of Key Management - Mrs. Usha Vedmutha

Mrs. Vinita A.Vedmutha

(c) Enterprises over which Key - Bedmutha Sons Reality Ventures Private Limited Management Personnel and their Bedmutha Agro Farms relatives exercise significant Kamal Wire Products influence with whom transactio ns have been taken K.R. Bedmutha Techno Associa tes Private Limited place during the year Elme Plast Co. Kreepa Steel Industries Usha Chemicals

(d) Associates - Ashoka Pre-con Private Limited (49%)

(e) Subsidiary Company - Kamalasha Infrastructures Engi neering Private Limited (54.75%)

15. The Company is organized into two segments mainly:

i. Wire & Wire Products

ii. Consultancy **

(During the period 1 st April 2010 to 31st March 2011, No significant revenue was generated in consultancy division, and hence the same is not reported.)

**As regards to the Consultancy / Contracting activities of the company are carried out in the name of K.R. Bedmutha & Techno Associates.

16. The company has some of its bank accounts in the name of Shriram pWire Private Limited, Kamdhenu Wire Private Limited and Ajay Wire Private Limited, these companies have been amalgamated to Bedmutha Industries Limited in Financial Year 2007-08.

17. Previous year's figures have been re-grouped and re-arranged as and when necessary.

 
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