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Notes to Accounts of Caprihans India Ltd.

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.

 
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