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Notes to Accounts of Caprihans India Ltd.

Mar 31, 2016

(b) Terms/rights attached to equity shares

The Company has only one class of equity shares having par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing annual general meeting.

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.

Note - Receivable in respect of non-core activities

In terms of the agreement with Kalpataru Ltd (KL) (formerly known as Kalpataru Homes Ltd) for disposal of assets of the activities identified as non-core (referred to as non-core assets) the Company is yet to realize an amount of Rs. 245.74 lakhs. The delay in the realization is on account of the pendency of arbitration proceedings. As the realization of this amount is underwritten by KL, the management is confident of full recovery of non-core dues in due course. Further the Company has received interest income of Rs. 14.74 lakhs (Previous year Rs. 14.70 lakhs) from KL on account of delay in realization.

# Excise duty on sales amounting to Rs. 2343.68 lakhs (March 31, 2015: Rs. 2437.76 lakhs) has been reduced from sales in the statement of profit & loss and excise duty on increase/decrease in stock amounting to (-) Rs. 33.43 lakhs, (March 31, 2015: Rs.(-) 44.75 lakhs) has been considered as (income)/expense in note 22.

Note: The Company has receivable from Bilcare Limited of Rs. 682.03 lakhs as of March 31, 2016 of which Rs. 338.50 lakhs pertain to receivables for supplies made, Rs. 300 lakhs pertain to Inter-corporate deposits and Rs. 43.53 lakhs pertain to Interest on inter-corporate deposits. The Company has made a provision for doubtful debts & advances for the total amount out of abundant precaution. Further, the Company has been informed by Bilcare Limited that they are undertaking restructuring of their debts and are hopeful of settling the dues.

(B) Gratuity and other employment benefits:

(i) The Company operates a defined benefit plan for gratuity. Under the plan every employee who has completed at least five years of service gets a gratuity on departure at 15 days of last drawn salary for each completed year of service. The scheme is funded with an insurance company in the form of qualifying insurance policies.

(ii) The Company provides compensation for accumulated leaves to its employees restricted to a pre-defined limit. Every employee is eligible to encash his accumulated leaves at the rate of his last drawn gross salary. The liability for leave encashment is unfunded.

The following table summarize the components of net benefit expense recognized in the statement of profit and loss and the funded status and amounts recognized in the balance sheet for the plan.

The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market. The overall expected rate of return on assets is determined based on the market prices prevailing on that date, applicable to the period over which obligation is to be settled.

C Additional related parties as per Companies Act, 2013 with whom transactions have taken place during the year

Enterprises in which a director holds along with his relatives, more than 2% of its paid-up share capital-

(i) Mr. Mohan H. Bhandari, Director is the promoter director of Bilcare Limited

(ii) Mr. Mofatraj P. Munot, Director is the executive chairman of Kalpataru Ltd.

The above figures exclude provision for gratuity and leave encashment which are actuarially determined on an overall Company basis.

Note: The Managerial remuneration paid to the Managing Director is in accordance with section 198 of the Companies Act, 2013 read with the Ministry of Corporate Affairs general circular No. 07/2015 dated 10th April, 2015.

The above figures exclude provision for gratuity and leave encashment which are actuarially determined on an overall company basis. Further, salary for year ended March 31, 2016 excludes accrued leave salary paid of Rs. 10.63 lakhs.

1. CAPITAL AND OTHER COMMITMENTS

(i) At 31 March, 2016, the Company has commitments of Rs. 90.93 lakhs for purchase of tangible and intangible assets (31 March, 2015: Rs. 219.02 lakhs).

(ii) For commitments relating to leasing obligation, refer Note 26.

(b) All the assets of the Company except Rs. 416.63 lakhs (Previous year Rs. 536.79 lakhs) are within India. All assets acquired during the year are within India.

2. CURRENT LIABILITIES:

Current liabilities as at March 31, 2016 include certain old statutory dues amounting to Rs. 269 lakhs for which the Company is in the process of ascertaining the veracity of the liability, including obtaining a legal view. The consequential impacts would be determined and accounted for on completion of evaluation.

3. WORKING CAPITAL FACILITIES BY BANK

Bank of Maharashtra has sanctioned working capital facilities which are secured by hypothecation of stocks and book debts.

4. PREVIOUS YEAR FIGURES

Previous year figures have been regrouped/reclassified, where necessary, to conform to current year’s classification.


Mar 31, 2015

Year ended/ Year ended/ as on 31st as on 31st March, 2015 March, 2014 Rs. in lakhs Rs. in lakhs

1. Contingent Liabilities:

(a) (i) Demands of Excise authorities which are disputed in appeals by the Company 601.44 477.16

(ii) Appeals filed by Excise authorities in the Supreme Court of India/CESTAT against orders passed by CESTAT/ Commissioner (Appeals) in favour of the Company 845.42 845.42

(iii) Other excise notices pending adjudication 211.68 314.17

(b) Demands of Income tax authorities which are disputed in appeals and not provided for 400.00 400.00

(c) Claims against the Company not acknowledged as debts - estimated 412.49 389.90

(d) Estimated amount of contracts remaining to be executed on Capital Account and not provided for 219.02 7.38

2. Bank of Maharashtra has sanctioned working capital facilities which are secured by hypothecation of stocks and book debts.

3. In terms of the agreement with Kalpataru Ltd. (KL) (formerly known as Kalpataru Homes Ltd.) for disposal of assets of the activities identified as non-core (referred to as non-core assets) the Company is yet to realise an amount of Rs. 245.74 lakhs. The delay in the realisation is on account of the pendency of arbitration proceedings. As the realisation of this amount is underwritten by KL, the management is confident of full recovery of non-core dues in due course. Further the Company has received interest income of Rs. 14.70 lakhs (Previous year Rs. 14.70 lakhs) from KL on account of delay in realisation.

4. Segment Reporting as per AS 17:

The Company is engaged mainly in processing of plastic polymers and after considering the nature of raw materials, class of customers and the methods of sales & distribution of the products, the Board is of the considered view that the Company's products are covered under a single reportable segment as per Accounting Standard on Segment Reporting (AS 17) issued by ICAI.

5. Depreciation for the current year has been calculated as per Schedule II to the Companies Act, 2013. Further in respect of assets where the remaining useful life is NIL as on 1st April, 2014 the residual value of the said assets has been adjusted against the Opening balance of retained earnings (net of deferred tax of Rs. 17.15 lakhs) amounting to Rs. 33.30 lakhs. Depreciation for the year ended 31st March, 2015 is lower by Rs. 44.72 lakhs due to this revision.

6. Related Party Disclosure as per AS 18:

(i) List of Related Parties:

(a) Enterprise where control exists Holding Company:

* Bilcare Research GmbH

* Films Germany Holding GmbH

* Bilcare Research AG

* Bilcare Research Holding AG Co.

* Bilcare Mauritius Ltd.

* Bilcare Ltd.

(b) Related parties with whom the Company had transactions including Fellow subsidiaries

* Bilcare Research GmbH

* Bilcare Research AG

* Bilcare Ltd.

* Kalpataru Ltd.

(c) Indian Promoters: Mr. M. P. Munot, Director, his relatives, associates and associate companies.

(ii) Relationship:

(a) Bilcare Research GmbH, which is part of Bilcare group holds 51% of the Share Capital of the Company. Mr. Mohan H. Bhandari, Director is the Promoter Director of Bilcare Ltd.

(b) Indian Promoters hold in aggregate over 20% of the Share Capital of the Company.

(iii) Key management Personnel in terms of Section 203 of Companies Act, 2013

Mr. Robin Baneijee - Managing Director

Mr. K. R. Viswanathan - CFO & Company Secretary

7. Previous year figures have been re-grouped and re-classified, wherever necessary.


Mar 31, 2014

1.Contingent Liabilities:

(a) (i) Demands of Excise authorities which are disputed in appeals by the Company 477.16 477.16

(ii) Appeals filed by Excise authorities in the Supreme Court of India/CESTAT against orders passed by CESTAT/Commissioner (Appeals) in favour of the Company 845.42 845.42

(iii)Other excise notices pending adjudication 314.17 305.14

(b)Demands of Income tax authorities which are disputed in appeals and not provided for 400.00 400.00

(c)Claims against the Company not acknowledged as debts- estimated 389.90 383.57

(d) Estimated amount of contracts remaining to be executed on Capital Account and not provided for 7.38 —

2. Bank of Maharashtra has sanctioned working capital facilities which are secured by hypothecation of stocks and book debts.

3. In terms ofthe agreement with Kalpataru Ltd. (KL) (formerly known as Kalpataru Homes Ltd.) for disposal of assets of the activities identified as non-core (referred to as non-core assets) the Company is yet to realise an amount of Rs. 245.74 lakhs.The delay in the realisation is on account of the pendency of arbitration proceedings.As the realisation of this amount is underwritten by KL, the management is confident of full recovery of non-core dues in due course. Further the Company has received interest income of Rs. 14.70 lakhs (Previous year Rs. 14.70 lakhs) from KL on account of delay in realisation.

4. Segment Reporting as per AS 17:

The Company is engaged mainly in processing of plastic polymers and after considering the nature of raw materials, class of customers and the methods of sales & distribution of the products, the Board is of the considered view that the Company''s products are covered under a single reportable segment as per Accounting Standard on Segment Reporting (AS 17) issued by ICAI.

5. Related Party Disclosure as per AS 18:

(i) List of Related Parties:

(a) Enterprise where control exists Holding Company:

* Bilcare Research GmbH - Bilcare Research AG

* Bilcare Germany GmbH & Co. KG - Bilcare Mauritius Ltd.

* Films Germany Holding GmbH - Bilcare Ltd.

(b) Related parties with whom the Company had transactions including Fellow subsidiaries

* Bilcare Research GmbH - Bilcare Ltd.

* Bilcare Research AG - Kalpataru Ltd.

(c) Indian Promoters: Mr. M.P. Munot, Director, his relatives, associates and associate companies.

6. Related Party Disclosure as per AS 18: (Contd.)

(ii) Relationship:

(a) Bilcare Research GmbH, which is part of Bilcare group holds 51% of the Share Capital of the Company.

(b) Indian Promoters hold in aggregate over 20% of the Share Capital of the Company.

(iii) Key management Personnel

Mr. Robin Banerjee - Managing Director - Effective 29th April, 2013 Mr. R. Balasubramanian - Managing Director - Upto 28th April, 2013 Mrs. Naina P. Hegde - Dy. Managing Director - Upto 31st August, 2013

7. Previous year figures have been re-grouped and re-classified, wherever necessary.


Mar 31, 2013

1. Contingent Liabilities:

(a) (i) Demands of Excise authorities which are disputed in appeals by the Company 477.16 453.06

(ii) Appeals fled by Excise authorities in the Supreme Court of India/CESTAT against orders passed by CESTAT/Commissioner (Appeals) in favour of the Company 845.42 845.42

(iii) Other excise notices pending adjudication 305.14 292.85

(b) Demands of Income tax authorities which are disputed in appeals and not provided for 400.00 400.00

(c) Claims against the Company not acknowledged as debts – estimated 383.57 366.44

(d) Estimated amount of contracts remaining to be executed on Capital Account and not provided for — 116.52

2. Bank of Maharashtra has sanctioned working capital facilities which are secured by hypothecation of stocks and book debts and by a charge by way of an equitable mortgage by deposit of title deeds over the following immovable properties of the Company:

– Plot No 76, MIDC Industrial Estate,Satpur, Nasik.

– Plot Nos C-13 and C-16, Wagle Industrial Estate, Thane.

– Offce blocks admeasuring 5640 sq.ft. at Block ''D'', Shivsagar Estate, Worli, Mumbai.

3. In terms of the agreement with Kalpataru Ltd (KL) (formerly known as Kalpataru Homes Ltd ) for disposal of assets of the activities identifed as non-core (referred to as non-core assets) the Company is yet to realise an amount of Rs 245.74 lakhs.The delay in the realisation is on account of the pendency of arbitration proceedings.As the realisation of this amount is underwritten by KL, the management is confdent of full recovery of non-core dues in due course.

4. Segment Reporting as per AS 17:

The Company is engaged mainly in processing of plastic polymers and after considering the nature of raw materials, class of customers and the methods of sales & distribution of the products, the Board is of the considered view that the Company''s products are covered under a single reportable segment as per Accounting Standard on Segment Reporting (AS 17) issued by ICAI.

5. Related Party Disclosure as per AS 18:

(i) List of Related Parties:

(a) Enterprise where control exists Holding Company: – Bilcare Research GmbH – Bilcare Research GmbH Co. & KG – Films Germany Holding GmbH – Bilcare Research AG – Bilcare Mauritius Ltd – Bilcare Ltd

(b) Related parties with whom the Company had transactions including Fellow subsidiaries

– Bilcare Research GmbH – Bilcare Research AG – Bilcare Ltd – Kalpataru Ltd

(c) Indian Promoters: Mr M.P. Munot, Director and Mr S.K. Dalmia, their relatives,associates and associate companies.

(ii) Relationship:

(a) Bilcare Research GmbH, which is part of Bilcare group holds 51% of the Share Capital of the Company. Mr. Mohan H. Bhandari, Director is the Promoter of Bilcare Ltd.

(b) Indian Promoters hold in aggregate over 21% of the Share Capital of the Company.

(iii) Key management Personnel

Mr. R. Balasubramanian – Managing Director

Mrs. Naina P. Hegde – Dy. Managing Director – Effective 25th October, 2012

6. Disclosure of Leases as per AS 19:

The Company has various operating leases for offces, godowns and residential premises for employees that are renewable on a periodic basis and cancellable at its option. The Company does not have any non-cancellable operating leases.

Rental expenses for operating leases

7. Previous year fgures have been re-grouped and re-classifed, wherever necessary.


Mar 31, 2012

1 Bank of Maharashtra has sanctioned working capital facilities which are secured by hypothecation of stocks and book debts and by a charge by way of an equitable mortgage by deposit of title deeds over the following immovable properties of the Company :

- Plot No 76, MIDC Industrial Estate,Satpur, Nasik.

- Plot Nos C-13 and C-16, Wagle Industrial Estate, Thane.

- Office blocks admeasuring 5640 sq.ft. at Block 'D', Shivsagar Estate- Worli,Mumbai.

2 In terms of the agreement with Kalpataru Ltd (KL) (formerly known as Kalpataru Homes Ltd ) for disposal of assets of the activities identified as non-core (referred to as non-core assets) the Company is yet to realise an amount of Rs 245.74 lakhs.The delay in the realisation is on account of the pendency of arbitration proceedings. As the realisation of this amount is underwritten by KL, the management is confident of full recovery of non-core dues in due course.

3 Segment Reporting as per AS 17:

The Company is engaged mainly in processing of plastic polymers and after considering the nature of raw materials,class of customers and the methods of sales & distribution of the products, the Board is of the considered view that the Company's products are covered under a single reportable segment as per Accounting Standard on Segment Reporting ( AS 17 ) issued by ICAI.

4 Related Party Disclosure as per AS 18:

(i) List of Related Parties :

(a) Enterprise where control exists Holding Company:

- Bilcare Research GmbH

- Bilcare Germany Management GmbH & Co. KG

- Bilcare Germany Management GmbH

- Films Germany Holding GmbH

- Bilcare AG

- Bilcare Mauritius Ltd

- Bilcare Ltd

(b) Related parties with whom the Company had transactions including Fellow subsidiaries

- Bilcare Research GmbH

- Bilcare Research S R L

- Bilcare Research AG

- Bilcare Ltd

(c) Indian Promoters: Mr M.P. Munot Director and Mr S.K. Dalmia , their relatives and their associate companies .

(ii) Relationship:

(a) Bilcare Research GmbH, which is part of Bilcare group holds 51 % of the Share Capital of the Company,after 31st August,2010 and INEOS Films GmbH,which is part of Ineos group, held 51% of the Share Capital of the Company upto 31st August,2010.

(b) Indian Promoters hold in aggregate over 18% of the Share Capital of the Company.

5 As per the requirements of revised Schedule VI to the Companies Act,1956,the Company has re-classified its assets and liabilities into current and non-current based on the normal operating cycle. Previous year figures have been accordingly re-grouped and re-classified.


Mar 31, 2011

1. Contingent Liabilities: Year ended/ Year ended/ as on 31st as on 31st March,2011 March, 2010 Rs in lakhs Rs. in lakhs

(a) (i) Demands of Excise authorities which are disputed in appeals by the Company 453.06 453.06

(ii) Appeals fled by Excise authorities in the Supreme Court of India/CESTAT against orders passed by CESTAT/ Commissioner (Appeals) in favour of the Company 845.42 251.19

(iii) Other excise demands pending adjudication 283.14 154.71

(b) Demands of Income tax authorities which are disputed in appeals by the Company and not provided for - 2326.72

(c) Claims against the Company not acknowledged as debts - estimated 331.97 323.92

2. Bank of Maharashtra has sanctioned working capital facilities which are secured by hypothecation of stocks and book debts and by a charge by way of an equitable mortgage by deposit of title deeds over the following immovable properties of the Company :

- Plot No 76, MIDC Industrial Estate, Satpur, Nasik.

- Plot Nos C-13 and C-16, Wagle Industrial Estate, Thane.

- Offce blocks admeasuring 5640 sq.ft. at Block ‘D’, Shivsagar Estate- Worli,Mumbai.

3. During the year ended 31st December,1997 the Company revalued its Head Office premises resulting in net increase in value of buildings by Rs.448.50 lakhs which was credited to Revaluation Reserve. On a review of the value of the premises on current basis and based on a valuation report, the Company wrote down the revalued amount by Rs 160 lakhs (net) during the period ended 31st March,2004.

Depreciation in respect of the said premises has been computed on the adjusted value after taking into consideration its revised balance life as per the Valuation Report. Proportionate depreciation on revaluation amounting to Rs.12 lakhs (Previous year Rs 12 lakhs) has been transferred to the Profit and Loss Account from the Revaluation Reserve

4. In terms of the agreement with Kalpataru Ltd (KL) (formerly known as Kalpataru Homes Ltd ) for disposal of assets of the activities identified as non-core (referred to as non-core assets) the Company is yet to realise an amount of Rs. 245.74 lakhs. The delay in the realisation is on account of the pendency of arbitration proceedings. As the realisation of this amount is underwritten by KL, the management is confident of full recovery of non-core dues in due course.

5. None of the Suppliers/Service providers have intimated their registration under Micro, Small and Medium Enterprises Development Act, 2006 to the Company. In view of this, information required to be disclosed under Section 22 of the said Act is not given.

6. Segment Reporting as per AS 17:

The Company is engaged mainly in processing of plastic polymers and after considering the nature of raw materials, class of customers and the methods of sales & distribution of the products, the Board is of the considered view that the Company’s products are covered under a single reportable segment as per Accounting Standard on Segment Reporting ( AS 17 ) issued by ICAI.

7. Related Party Disclosure as per AS 18: (i) List of Related Parties :

(a) Enterprise where control exists Holding Company: Upto 31st August,2010

- INEOS Films GmbH

- INEOS Films Deutschland GmbH

- INEOS Films Deutschland GmbH & Co .KG

- INEOS Films Limited – INEOS Vinyls Limited

- INEOS Vinyls Holdings Limited

- Hawkslease Finance Company Limited

- INEOS Vinyls Group Limited

- INEOS Holdings Limited

- INEOS Group Holdings Plc

- INEOS Intermediate Holdings Limited

- INEOS Investment Holdings Limited

- INEOS Group Limited

Holding Company: After 31st August, 2010

- Bilcare Research GmbH

- Bilcare Germany Management GmbH & Co. KG -

- Bilcare Germany Management GmbH

- Films Germany Holding GmbH

- Bilcare AG

- Bilcare Mauritius Ltd

- Bilcare Ltd

(b) Related parties with whom the Company had transactions including Fellow subsidiaries

- NEOS Films GmbH

- INEOS Films Limited

- INEOS Films Staufen GmbH

- INEOS Vinyls Sales GmbH

- INEOS Melamines

- Bilcare Research GmbH

- Bilcare Research S R L

- Bilcare Ltd

(c) Indian Promoters: Mr Mofatraj P Munot Director and Mr Shivkumar Dalmia, their relatives and their associate companies.

(ii) Relationship:

(a) INEOS Films GmbH, which is part of Ineos group, held 51% of the Share Capital of the Company, upto 31st August, 2010 and Bilcare Research GmbH, which is part of Bilcare group holds 51 % of the Share Capital of the Company, after 31st August, 2010.

(b) Indian Promoters hold in aggregate over 17% of the Share Capital of the Company.

(iii) Key management Personnel

(a) Mr R. Balasubramanian - Managing Director

(b) Mr Steve Reynolds - Director ( Resigned on 8th November, 2010 )

8. Disclosure of Leases as per AS 19:

The Company has various operating leases for offces, godowns and residential premises for employees that are renewable on a periodic basis and cancellable at its option. Rental expenses for operating leases recognised in the Profit and Loss account for the year is Rs. 28.74 lakhs ( Previous year Rs. 28.10 lakhs). Company does not have any non-cancellable operating leases as on date.

9 Details of movement in provision in accordance with AS 29:

Outfow in respect of above provisions ( other than Proposed dividend & Tax on dividend ) both timing and certainty would depend on development or outcome of these events.

10. Previous years figures have been regrouped/recast wherever necessary


Mar 31, 2010

1. Contingent Liabilities:

Year ended/ Year ended/ as on 31st as on 31st March, 2010 March, 2009 Rs. in lakhs Rs. in lakhs



(a) (i) Demands of Excise authorities which are disputed in appeals by 453.06 458.06 the Company

(ii) Appeals fled by Excise authorities in the Supreme Court of India against 251.19 251.19 orders passed by CESTAT in favour of the Company

(iii) Other excise demands 154.71 154.71

(b) Demands of income tax authorities which are disputed in appeals by the 2326.72 - Company and not provided for

(c) Claims against the Company not acknowledged as debts - estimated 323.92 307.15

2. Bank of Maharashtra has sanctioned working capital facilities which are secured by hypothecation of stocks and book debts and by a charge by way of an equitable mortgage by deposit of title deeds over the following immovable properties of the Company:

- Plot No. 76, MIDC Industrial Estate, Satpur, Nasik.

- Plot Nos. C-13 and C-16, Wagle Industrial Estate, Thane.

- Office blocks admeasuring 5640 sq.ft. at Block ‘D’, Shivsagar Estate, Worli, Mumbai.

3. During the year ended 31st December, 1997 the Company revalued its Head Office premises resulting in net increase in value of buildings by Rs. 448.50 lakhs which was credited to Revaluation Reserve. On a review of the value of the premises on current basis and based on a valuation report, the Company wrote down the revalued amount by Rs. 160 lakhs (net) during the period ended 31st March, 2004.

Depreciation in respect of the said premises has been computed on the adjusted value after taking into consideration its revised balance life as per the Valuation Report. Proportionate depreciation on revaluation amounting to Rs. 12 lakhs (Previous year Rs. 12 lakhs) has been transferred to the Profit and Loss Account from the Revaluation Reserve.

4. In terms of the agreement with Kalpataru Ltd (KL) (formerly known as Kalpataru Homes Ltd) for disposal of assets of the activities identifed as non-core (referred to as non-core assets) the Company is yet to realise an amount of Rs. 245.74 lakhs. The delay in the realisation is on account of the pendency of arbitration proceedings. As the realisation of this amount is underwritten by KL, the management is confident of full recovery of non-core dues in due course.

5. Suppliers/Service providers covered under Micro, Small and Medium Enterprises Develpment Act, 2006 have not furnished the information regarding fling necessary memorandum with the appropriate authority. In view of this, information required to be disclosed under Section 22 of the said Act is not given.

6. Segment Reporting as per AS 17:

The Company is engaged mainly in processing of plastic polymers and after considering the nature of raw materials, class of customers and the methods of sales & distribution of the products, the Board is of the considered view that the Company’s products are covered under a single reportable segment as per Accounting Standard on Segment Reporting (AS 17) issued by ICAI.

7. Related Party Disclosure as per AS 18: (i) List of Related Parties:

(a) Enterprise where control exists Holding Company:

- INEOS Films GmbH

- INEOS Vinyls Deutschland GmbH

- INEOS Vinyls Deutschland GmbH & Co. KG

- INEOS Films Limited

- INEOS Vinyls Limited

- INEOS Vinyls Holdings Limited

- Hawkslease Finance Company Limited

- INEOS Vinyls Group Limited

- INEOS Holdings Limited

- INEOS Group Holdings Plc

- INEOS Intermediate Holdings Limited

- INEOS Investment Holdings Limited

- INEOS Group Limited

(b) Related parties with whom the Company had transactions including Fellow subsidiaries – INEOS Films GmbH

- INEOS Vinyls UK Limited

- INEOS Films Limited

- INEOS Films Italia SRL

- INEOS Films Staufen Gmbh

- INEOS Vinyls Sales GmbH

- INEOS Melamines

(c) Indian Promoters: Mr. M.P. Munot, Director and Mr. S.K. Dalmia, their relatives and their associate companies.

(ii) Relationship:

(a) INEOS Films GmbH, which is part of Ineos group, hold 51% of the Share Capital of the Company.

(b) Indian Promoters hold in aggregate over 17% of the Share Capital of the Company.

(iii) Key Management Personnel

(a) Mr. R. Balasubramanian - Managing Director

(b) Mr. David Thompson - Director (upto 27th January, 2010)

(c) Mr. Steve Reynolds - Director

8. Previous year figures have been regrouped/recast wherever necessary.

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