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Notes to Accounts of Ceenik Exports (India) Ltd.

Mar 31, 2015

Particulars As at 31 March, 2015 As at 31 March, 2014 Rs. Rs.

1. Contingent liabilities and commitments (to the extent not provided for)

(i) Contingent liabilities

(a) claims against the Company not acknowledges as debt - -

(b) Guarantees - -

(c) O'her money for which the Company is contingently liable (give details) - -

(ii) Commitments

(a) Esimated amount of contracts remaining to be executed on capital account and not provided for

Tangible assets - -

Intangible assets - -

(b) Uncalled liability on shares and other investments partly paid - 5,000,000

(c) Other commitments (specify nature) - -

- 5,000,000

Note 2. Details on unhedged foreign currency exposures

The year-end foreign currency exposures that have not been hedged by a derivative instrument or otherwise are given below:

Note : 3. Employee benefit plans

Note: 4. a Defined contribution Plans

The Company makes Provident Fund and Superannuation Fund contributions to defined contribution plans for qualifying employees. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognised Rs. 93,150/- (Year ended 31 March, 2014 Rs. 74,342/-) for Provident Fund contributions and Rs. 01- (Year ended 31 March, 2014 Rs. 28,125/-) for Superannuation Fund contributions in the Statement of Profit and Loss. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes.

Note: 5. Defined benefit Plans

The Company offers the following employee benefit schemes to its employees:

i. Gratuity

The following table sets out the funded status of the defined benefit schemes and the amount recognised in the financial statements:

Note: 6.

The Company has identified business segments as its primary segment, and there is no secondary segment. Business segments are primarly Garments Manufacturing and Investment in Realty & Securities, Revennues and expenses directly attributable to segment are reported under each reportable segment. Expenses which are not directly identifiable to each reportable segment have been allocated on the basis of associated revenues of the segment and manpower efforts. All other expenses which are not attributable or allcable to segments have been disclosed as unallocable expenses. Assets and liabilities that are directly attributable or allocable to segments are disclosed under eachreportable segment. All other assetsand liabilities are disclosed as unallocable. Fixed assets that are used interchangeably amongst segments are not allocated to primary and secondary segments.

Note 7. Other Notes

(I) Amount of Rs. 14,06,383/- receivable from an overseas party Is classified as unsecured but considered good, the Company has filed a suit in Court outside India.

Note 8. Previous year's figures

Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.


Mar 31, 2014

Particulars As at 31 March, 2014 As at 31 March, 2013 Rs. Rs.

Note 1 Contingent liabilities and commitments (to the extent not provided for)

(i) Contingent liabilities

(a) claims against the Company - - not acknowledges as debt

(b) Guarantees - -

(c) Other money for which the Company is contingently liable (give details)

(ii) Commitments - -

(a) Estimated amount of contracts - - remaining to be executed on capital account and not provided for

Tangible assets Intangible assets - -

(b) Uncalled liability on shares 5,000,000 5,000,000 and other investments partly paid

(c) Other commitments (specify - - nature)

5,000,000 5,000,000

Note 2 Defined contribution Plans

The Company makes Provident Fund and Superannuation Fund contributions to defined contribution plans for qualifying employees. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognised Rs. 74,342/- (Year ended 31 March, 2013 Rs. 56,370/-) for Provident Fund contributions and Rs. 28,125/- (Year ended 31 March, 2013 Rs. 26,931/-) for Superannuation Fund contributions in the Statement of Profit and Loss. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes.

Note 3 Segment information

The Company has identified business segments as its primary segment, and there is no secondary segment. Business segments are primarly Garments Manufacturing and Investment in Realty & Securities , revennues and expenses directly attributable to segment are reported under each reportable segment. Expenses which are not directly identifiable to each reportable segment have been allocated on the basis of associated revenues of the segment and manpower efforts. All other expenses which are not attributable or allcable to segments have been disclosed as unallocable expenses. Assets and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment. All other assets and liabilities are disclosed as unallocable. Fixed assets that are used interchangeably amongst segments are not allocated to primary and secondary segments.

Note 4 Other Notes

(I) Amount of Rs. 14,06,383/- receivable from an overseas party is classified as unsecured but considered good, the Company has filed a suit in Court outside India.

Note 5 Previous year''s figures

Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.


Mar 31, 2013

Note : 1.1 Employee benefit plans Note : 24.10a Defined contribution Plans

The Company makes Provident Fund and Superannuation Fund contributions to defined contribution plans for qualifying employees. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognised Rs. 56,370/- (Year ended 31 March, 2012 Rs. 65,827/-) for Provident Fund contributions and Rs. 26,931/- (Year ended 31 March, 2012 Rs. 37,488/-) for Superannuation Fund contributions in the Statement of Profit and Loss. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes.

Note: 1.2 Defined benefit Plans

The Company offers the following employee benefit schemes to its employees:

i. Gratuity

The following table sets out the funded status of the defined benefit schemes and the amount recognised in the financial statements:

Note 1.3 Segment Information

The Company has identified business segments as its primary segment, and there is no secondary segment. Business segments are primarty Garments Manufacturing and Investment in Realty & Securities , revennues and expenses directly attributable to segment are reported under each reportable segment. Expenses which are not directly identifiable to each reportable segment have been allocated on the basis of associated revenuesof the segment and manpower efforts. All other expenses which are not attributable or allcable to segments have been disclosed as unallocable expenses. Assets and liabilities that are directly attributable or allocable to segments are disclosed under eachreportable segment. All other assetsand liabilities are disclosed as unallocable. Fixed assets that are used interchangeably amongst segments are not allocated to primary andsecondary segments.

The Company has recognised deferred tax asset on unabsorbed depreciation to the extent of the corresponding deferred tax liability on the difference between the book balance and the written down value of fixed assets under Income Tax (or) The Company has recognised deferred tax asset on unabsorbed depreciation and brought forward business losses based on the Management''s estimates of future profits considering the non-cancellable customer orders received by the Company.

Note 2 Other Notes

(I) Amount of Rs. 14,06,383/- receivable from an overseas party is classified as unsecured but considered good, the Company has filed a suit in Court outside India.

Note 3 Previous year''s figures

Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.


Mar 31, 2012

Note: 1.1 Employes benefit plans Note: 24.10a Peflned contribution Plana

The Company makes Provident Fund and Superannuation Fund contributions to defined contribution plans for qualifying emptoyess. Under the Schemes, the Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognised Rs. 65,827/- (Year ended 31 March, 2011 Rs. 67,968/-) for Provident Fund contributions and Rs. 37,488/- (Year ended 31 March, 2011 Rs. 28,076/-) for Superannuation Fund contributions in the Statement of Profit and Loss. The contributions payable to these plans by the Company are at rates specified in the rules of the schemes. Note: 24.10b Peffned benefit Plan*

The Company offers the following employee benefit schemes to its employees:

i. Gratuity

The following table sets out the funded status of the defined benefit schemes and the amount recognised

Note 1.2 Segment information

The Company has identified business segments as its primary segment, and there is no secondary segment Business segments are primarty Garments Manufacturing and Investment in Realty & Securities , revennues and expenses directly attributable to segment are reported under each reportable segment. Expenses which are not directly identifiable to each reportable segment have been allocated on the basis of associated revenuesof the segment and manpower efforts. AN omer expenses which are not attributable or allcable to segments have been disclosed as unallocable expenses. Assets and liabilities that are directly attributable or allocable to segments are disclosed under eachreportaWe segment At otter assetsand liabilities are disclosed as unallocable. Fixed assets that are used interchangeably amongst segments are not allocated to primary andsecondary segments.

The Company has recognised deferred tax asset on unabsorbed depreciation to the extent of the corresponding deferred tax liability on the difference between the book balance and the written down value of fixed assets under Income Tax (or) The Company has recognised deferred tax asset on unabsorbed depreciation and brought forward business losses based on the Management's estimates of future profits considering the non-cancellable customer orders received by the Company.

Note 3 Other Notes "

(I) Rental income from one of the parties are not recorded, Since the Company is in dispute and is before the Court

(II) Amount of Rs. 61,67,874.15 receivable from an overseas party is written off as bad debts and for which have closed the GR against those invoices.

(iii) Amount of Rs. 14,06,383/- receivable from an overseas party is classified as unsecured but considered goods the Company has filled a suit

Note 4 Previous year's figures

The revised Schedule V has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to Corresporl with the current year's dassification / discioeer.


Mar 31, 2010

(1) Details of Licenced & Installed Capacity, Production Stocks & Turnover

(2) Related Party Disclosure

(3) Deferred Tax

Deferred tax is recognised subject to the condition prudence in respect of deferred tax assets on timing differences being the differences between the taxable income and the accounting income that originate in one period and are capable of reversal in one or more subsequent period. The classification of Deferred Tax Asset

(4) Segment Information for the year ended 31.03.2010

The Company is in the business of exports of Garments and Renting of Properties.

5) Basic & diluted earning per share has been calculated by dividing net profit available for appropriations for th< year by 33,50,000 Equity Shares of Nominal Value of Rs. 10/- each.

6) Unpaid overdue amount due on 31.03.2010 to small scale and/or ancillary Industrial supplies on account o principal amount is NIL (Previous Year Rs. Nil). This disclosure is based on the information available with the Company regarding status of the suppliers as defined under the "Interest on delayed payments to Small Scak and Ancillary Industrial Undertakings Act, 1993."

7) Contingent Liabilities as on 31.03.2010

a) Liabilities in respect of bills discounted with Bank Rs. 78,52,709/ (Previous Year Rs. 2,49,70,000/-)

b) Claims against the Company not acknowledge as debt: Rs. Nil (Previous Year Rs. Nil)

c) Estimated amount of contracts remaining to be executed on Capital Account and not provided for Rs Nil (Previous Year Rs. Nil)

d) Guarantees and Counter guarantees issued by the company Rs. Nil (Previous Year Rs. Nil)

8) Computation of profit u/s 349 of the Companies Act, 1956 is not done since no commission is paid to th< Managing Director.

9) Previous year figures have been regrouped wherever necessary.

 
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