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Notes to Accounts of Captain Polyplast Ltd.

Mar 31, 2016

Notes :

Secured Loans From Banks :

a) Term Loan-1 from S. B. I., Current O/s. as on 31-03-16 Rs. 2,26,01,711/-, secured by hypothecation of machinery and guarantee by all Directors, Rate of Interest @ 12.15% p. a., Repayable in monthly installment of Rs. 1050000/p. m. plus interest

b) Wind Turbine -1 Term Loan from S. B. I., Current O/s. as on 31-03-16 Rs. 19,19,674/- is secured by hypothecation of Wind Turbine and guarantee by all Directors, Rate of Interest @ 12.15% p. a. Repayable in monthly installment of Rs. 150000/- p. m. plus interest.

c) Wind Turbine - II Term Loan from S. B. I., Current O/s. as on 31-03-16 Rs. 1,06,33,133/- is secured by hypothecation of Wind Turbine and guarantee by all Directors, Rate of Interest @ 12.15% p. a. Repayable in monthly installment of Rs. 455000/- p. m. plus interest.

d) HDFC Bank Car Loan -1, Current O/s. as on 31-03-16 Rs. 74609/- is secured by hypothecation of Car registered in the name of Director Rate of Interest 10% p. a., Repayable in 36 monthly EMI of Rs. 12800/-, Last installment due on 05-09-16

e) HDFC Bank Car Loan - 2, Current O/s. as on 31-03-16 Rs. 74609/- is secured by hypothecation of Car registered in the name of Director Rate of Interest 10% p. a., Repayable in 36 monthly EMI of Rs. 12800/-, Last installment due on 05-09-16

f) HDFC Bank Car Loan - 3, Current O/s. as on 31-03-16 Rs. 74609/- is secured by hypothecation of Car registered in the name of Director Rate of Interest 10% p. a., Repayable in 36 monthly EMI of Rs. 12800/-, Last installment due on 05-09-16

Business Loans From Bank & Financial Institutions :

g) Term Loan from TATA Capital Ltd, Current O/s. as on 31-03-16 Rs. 597563/- secured by hypothecation of Machinery, Rate of Interest 14.01% p. a., Repayable in 48 monthly HP Installment of Rs. 291851/-, Last Installment due on 15-07-17

h) Business loan from Bajaj Finance Ltd, Current O/s. as on 31-03-16 Rs. 3894847/- is secured by hypothecation of residential building of Directors, Rate of interest 10.75% p. a., Repayable in 180 monthly EMI of Rs. 44166/-, Last Installment due on 02-10-30.

i) Car Loan from BMW Financial Services, Current O/s. as on 31-03-16 Rs. 218656/- is secured by hypothecation of Car registered in the name of Directors, Rate of interest 9.00% p. a., Repayable in 36 monthly EMI of Rs. 110450/-, Last installment due on 16-06-17

j) Business loan from Bajaj Finance Ltd, Current O/s. as on 31-03-16 Rs. 25787244/- is secured by hypothecation of residential building of Directors, Rate of interest 11.35% p. a., Repayable in 178 monthly EMI of Rs. 320121/-, Last Installment due on 05-03-29

Unsecured Loans

From Directors

k) 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. Rate of Interest @ 12% p.a.

From Banks

I) Business loan from Kotak Mahindra Bank Ltd, Current O/s. as on 31-03-16 Rs. 52,20,848/- Rate of interest 15.72% p. a.,

Repayable in 18 monthly EMI of Rs. 4,66,875/-, Last Installment due on 05.03.2017

Note :

Working Capital Facilities from Banks:

Cash Credit from Banks o/s. as on 31.03.2016 Rs. 16,57,62,418 secured by way of first charge by hypothecation of stocks, book debts and all current assets of the Company (Present & Future) including Plant & Machinery situated at Company''s premises. Rate of interest at PLR 12.05% subject to change from time to time..

1. There is no employees getting remuneration as required under

Section 217 (2-A) of the Companies Act, 2013 NA NA

2. 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.

3. Contratual Liabilities:

All other contractual liabilities connected with business operations of the Company have been appropriately provided for.

4. Gratuity Benefits

The Company has defined benefit gratuity plan. Every employee who has completed five years or more of services gets a gratuity on departure at 15 days salary (Last drawn salary) for each completed year of service.

The following table summarizes the component of net benefit expenses recognized in Statement of Profit & Loss and Gratuity Obligation as at year end as per Acturial Valuation Report.

5. 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.

6. Balances of Trade Payables, Unsecured Loans, Trade Receivables, Long Term and 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.

7. 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,

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

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


Mar 31, 2015

1. Corporate Information :

The Company is engaged in the business of manufacturing and selling of quality Micro irrigation Systems and allied products tor more than decade and half. Apart form manufacturing and selling of products the Company also undertakes supply and installation of micro irrigation systems and provision of agronomical services to farmers.

2. Secured Loans From Banks :

a) Term Loan from S.B Current O/s. as on 31-03-15 Rs. 1486365/-, secured by hypothecation of machinery and guarantee My all Pi rectors, Rate of interest @13.5% . p. a Repayable in monthly installment of Rs 140000/- p. m plus interest

b) Term Loan-M from &. 8.) Current O/s. as on 31-03-15 Rs. 35396245V-, secured by hypothecation of machinery and guarantee by ell Drnectom-, Rate of interest @ 13 5% p m Repgygbte in monthly installment of Rs- 1050000'- p m- plus

c) Wind Turbine -1 Term Lean from S B. L, Currant O.'s. as on 31-03-15 Rs. 3T44111/- Is secured by hypothecation of Wind Turbine and guarantee by all Directors, Rate of Interest @ 13.5% p a Repayable in monthly mslallment of Rs. 150000/- p. m. plus interest.

3. Realisation :

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

4. Contratual Liabilities i

All other contractual liabilities connected with business operations of the Company have been appropriately provided for

5. Previous year's figures have been regrouped wherever necessary to confirm to the Current years

6. Related Party Disclosure :

a, Key Management Personnel:

Mr. Ramesh D. Khichadia CHairman and Managing Director

Mr, Ashok K, Patel Whole time Director

b. Related Key Management Personnel :

M/s. Capital Polymers Relative Party

IWs. Captain Pipes Ltd. Associated Parly

7. In the absence of information regarding ouIslanding 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 Vl to the Companies Act,

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