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Notes to Accounts of Captain Pipes Ltd.

Mar 31, 2016

1. LONG TERM BORROWINGS (CONTD) :

2. Tata Capital Financial Service loan A/c No: 3860305 .secured against New Plant & machinery and guarantee by all Directors, Rate of Interest:-13.85%, this loan is covered with personal guarantee of directors, Shri Gopalbhai Khichadia, Shri Rameshbhai Khichadia and Shri Kantilal M. Gedia & repayable in monthly installment of Rs. 4,54,100 & Rs. 2,64,100 plus interest and date of last installment will be 15, January 2019

3. Mahindra & Mahindra Financial Ser Ltd. loan A/c. 3894252 secured against Mahindra Bolero Purchase repayable in Equal Monthly Installments of Rs. 15,350/- P.m. and date of last installment will be 15, October-2018.

4. Unsecured Loans from directors and relatives are long term in nature and as per management explanation, generally not repayable within one year from the balance sheet date.

5. The company has not made any default for repayment of loans and their interest.

Working Capital Facilities from Banks:

Cash Credit from Banks secured by way of first charge by hypothecation of all stocks, receivables and other movables of the company and guarantee by all the Directors of the Company.

6. Realization :

In the opinion of the Board and to the best of its knowledge and belief, the value on realization of current assets, loans and advances will, in the ordinary course of business, not be less than the amounts at which they are stated in the Balance sheet.

7. Contractual Liabilities :

As certified by the management of the company, the company has generally made all the applicable provisions with respect to the business operations of the company.

8. Disclosure under Accounting Standard -15 (Revised) on ''Post Employment Benefits''

Gratuity Benefits

Provision for gratuity is provided based on valuation made at the end of the financial year, by the management of the company in respect of employees who have completed five or more years of services and are eligible for gratuity at departure @15 days salary (Last drawn salary) for each completed year of service

Gratuity liability as at year end 917,397 812,698

9. Previous year’s figure have been reworked, regrouped, rearranged and reclassified wherever necessary. Accordingly, amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.

10. Balances of Trade Payables, Unsecured Loans, Trade Receivables, Long Term & Short Term Loans & Advances, Other Current and Other Non Current Assets and Provisions and are subject to the confirmation of the parties concerned. Wherever confirmation of the parties for the amounts due to them / amounts due from them as per books of accounts are not received, necessary adjustments, if any, will be made when the accounts are reconciled / settled.

11. In the absence of information regarding outstanding dues of MICRO or Small Scale Industrial Enterprise(s) as per The Micro, Small & Medium Enterprise Development Act, the Company has not disclosed the same as required by Schedule III to the Companies Act,

12. Wherever no vouchers and documentary evidences were made available for our verification, we have relied on the authentication given by management of the company.

13. Figures have been rounded off to nearest rupee and have been regrouped, rearranged and reclassified wherever necessary.


Mar 31, 2015

The company has issued equity shares of same assets of which is having same rights, preferential and restore-close is ailanthic to cad as of shares including restrictions on the distribution of dividends and the repayment of capital.

- Tata Capital Financial loan A/c No,;-3436953&.3497984 secured against Machinery , rate of interest 14,75%, this loan is covered with personal guarantee of directors - (i) Shri Gopaibbai Khichadia (ii) Shri Rarnethbhai Khichadia and (iii) Shri Kamilal M. Gedia, repayable in monthly installment of Rs:. 1,52,200 plus interest and Rs. 30.200 plus interest respectively and date of last installment will be 06. December 2017,

- BOB Term Loan secured against Factory Land, Building & Plant & Machinery. Rate Of Interest 14.50%, this loan is covered with personal guarantee of directors - (i) Shri Gopalbhai Khichadia (ii) Shri Rameshbhai Khichadia and (hi) Shri Kantilal M. Gedia, repayable in Monthly installments of Rs.475O00/- P.m. plus interest and date of last installment will be 30, April - 201G,

- L & T Finance Ltd Secured Against Vehicle Taw Super Ace, repayable in LM1 of Rs. 11.880/- and date of last installment will be 05, July - 2014.The loan was repaid during the F.Y. 2014-15

- Tata Capital Financial Service loan A/c No: 3S60305 ,secured against New Plant & machinery and guarantee by all Directors, Rate of Interest:- 13.85%, this loan is covered with personal guarantee of directors, Shri Gopalbhai Kichadia, Shri Rameshbhai Khichadia and Shri Kantilal M. Gedia repayable in monthly installment of Rs, 4,54.100 plus interest and date of last installment will be 15, January - 2019,

- Unsecured Loans are considered as nor current liability based on management explanation that the same are not repayable immediately

- Details of Raw - Materials mainly includes :- PVC resin Red Material .Calcium Chronis . HDPH GRANT. 'LS , Impact Modifier

- Finished Goods : Assembly Department. Column Pipe, Plumbing Pipe, U PVC pipe. Casing pipe

(Note : For the information of RM and FG Amt, - ruler to 4,1 -Chanson in victories of finished goods Work-in-progress and

- Raw materials arc valued at lower of cost and net variable value

- Cost is determined, on first-out method.

- Inventories of manufactured finished goods are valued at Market value.

- The figure shown under the Adjustment head is the figure of Rate Dale, and Discount on purchase of Raw Material.

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