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Notes to Accounts of Bothra Metals & Alloys Ltd.

Mar 31, 2015

1. CORPORATE INFORMATION

Bothra Metals & Alloys Ltd was incorporated in the year 2001. The Company is into manufacturing of Aluminium Section and Ingots through its manufacturing facility at Sangli and Kala-Amb. The Company is also into trading of all type of Non-Ferrous Metals.

c) During last five years, 13,999,880 number of Equity Shares were issued as fully paid bonus shares.

NATURE OF SECURITY AND TERMS OF REPAYMENT FOR LONG TERM BORROWINGS

NATURE OF SECURITY

TERMS OF REPAYMENT

I Term loan amounting to RS. 140.53 Lakhs (Previous year Rs. 220.85 Lakhs) is secured by first charge on plant and machinery funded by term-loan, first charge on part of land at Sangli and personal guarantee of directors and relatives of directors.

Loan to be repaid in 11 equal quarterly installments starting from May, 2014 and last installment due In November, 2016. Rate of interest is 13.00% per annum payable monthly.

Ii Car loan amounting to ` 3.57 Lakhs (Previous year ` 6.56 Lakhs) is secured against car, from Volkswagen Finance Pvt. Ltd

Loan to be repaid in 48 equal monthly installments, starting from May, 2012 and last installment due in April, 2016. Rate of interest is 11.73% per annum payable monthly.

Iii Car loan amounting to ` 1.76 Lakhs (Previous year ` 2.80 Lakhs) is secured against car, from ICICI Bank.

Loan to be repaid in 60 equal monthly installments, starting from October,2011 and last installment due in September, 2016.Rate of interest is 11.26% per annum payable monthly.

Iv Unsecured Loan amounting ` Nil (Previous ye ar `16.19 Lakhs) was taken from HDFC Bank.

Loan to be repaid in 24 equal monthly installments, starting from April, 2013 and last installment due in March, 2015. Rate of interest is 16.00% per annum payable monthly.

V Unsecured Loan amounting ` 4.44 Lakhs (Previous year ` NIL) was raised during the year from LIC of India.

Loan to be repaid at the end of tenure of 8 years. Rate of interest is 9.00% per annum

Cash credit, buyer's credit arrangement and letter of credit limit from banks are secured against hypothecatior of trade receivables and inventory of the company and also the collateral security of properties of company and guaranteed by directors and their relatives with the collateral security of personal properties of directors and relatives.

Interest income has been shown as deduction from interest paid for loans in statement of profit and loss for proper presentation.

2. Contingent liabilities (to the extent not provided for):

Claims against the Company not acknowledged as debts: (Rs. In Lakhs)

S. Particulars As on As on No. 31.03.2015 31.03.2014

1 Gujarat commercial tax which is being contested by Company. - 9.46

2 Central Excise Duty, which is being contested by the company 2.00 2.00

3. Disclosure pursuant to Accounting Standard - 15 "Employee Benefits"

a) The Company has made a provision for the employee benefits in accordance with the Accounting Standard (AS) 15 "Employee Benefits". Defined contribution plans:

b) Defined benefit plans:

The employee gratuity is a defined benefit plan. The present value of the obligation is based on actuarialvaluation using projected unit credit method

The estimates of future salary increase considered in actuarial valuation take account of inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market.

4. Related parties with whom transactions done during the year :

Key management personnel & relatives

a) Sunderlal Bothra

b) Narendra Kumar Bothra

c) Kishanlal Bothra

d) Sardarmal C.Suthar

e) Ashok Surana

f) Nirmal Daga

g) Sanjay Deokar

h) Kavindra Kumar Chhajer

i) Sunderlal Bothra (HUF)

j) Manju S. Bothra

k) Krishna BandhuDeokar

l) Dimple K. Bothra

m) Madhu N. Bothra

n) Sayerdevi Bothra

o) Bothra Print & Pack

5. Segment information: The Company operates in one segment namely aluminium based products.

6. C.I.F. Value of imports, expenditure and earnings in foreign currency

7. Figures for the previous year have been regrouped / reclassified / reinstated, wherever considered necessary.


Mar 31, 2014

1. Contingent liabilities (to the extent not provided for):

Claims against the Company not acknowledged as debts:

(Rs In Lakhs) Paticular As on 31.03.2014 As on 31.03.2014

1 Gujarat commercial tax which is being contested by 9.46 9.46 Company.

2 Central Excise Duty, which is being contested by the 2.00 0.00 company

2. Disclosure pursuant to Accounting Standard - 15 "Employee Benefits"

The Company has made a provision for the employee benefits in accordance with the Accounting Standard (AS) 15 "Employee Benefits".

b) Defined benefit plans:

The employee gratuity is a defined benefit plan. The present value of the obligation is based on actuarialvaluation using projected unit credit method

The estimates of future salary increase considered in actuarial valuation take account of inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market.

3. Related parties with whom transactions done during the year :

Key management personnel & relatives

a) Sunderlal Bothra

b) Narendra Kumar Bothra

c) Kishanlal Bothra

d) Sardarmal C.Suthar

e) Ashok Surana

f) Nirmal Daga

g) Sanjay Deokar

h) Kavindra Kumar Chhajer

i) Sunderlal Bothra (HUF)

j) Manju S. Bothra

k) Krishna BandhuDeokar

l) Dimple K. Bothra

m) Madhu N. Bothra

n) Sayerdevi Bothra

o) Bothra Print & Pack


Mar 31, 2013

1 EXTRAORDINARY ITEMS

Some Plant and machinery, building etc at Kala-Amb plant were damaged due to natural calamity for which insurance claim was filed with the insurance company for Rs. 25.36 lakhs. The actual amount received is Rs. 15.68 lakhs giving a loss on insurance claim worth Rs. 9.68 lakhs which is shown in statement of profit and loss of 2011-12.

2 The Company has made a provision for the employee benefits in accordance with the Accounting Standard (AS) 15 "Employee Benefits". During the year, the Company has recognized the following amounts in its financial statements :

b) Defined benefit plans:

The employee gratuity is a defined benefit plan. The present value of the obligation is based on actuarial valuation using projected unit credit method

3 Related parties with whom transactions done during the year :

i. Key management personnel & relatives

a) Sunderlal Bothra

b) Narendra Kumar Bothra

c) Kishanlal Bothra

d) Sardarmal C.Suthar

e) Ashok Surana

f) Nirmal Daga

g) Sanjay Deokar

h) Sunderlal Bothra (HUF) i) Sardarmal Suthar (HUF) j) Ashok L. Bothra k) Manju S. Bothra l) Krishna Bandhu Deokar m) Dimple K. Bothra

4 Segment information : The Company operates in one segment namely aluminium based products.

5. Figures for the previous year have been regrouped / reclassified / reinstated, wherever considered necessary.

 
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