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,