Home  »  Company  »  Cenlub Industrie  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Cenlub Industries Ltd.

Mar 31, 2015

1. Company overview

Cenlub Industries Limited is an engineering company primarily engaged in designing, engineering, manufacturing, supply, installation and erection of Lubrication systems.

2. The Company has only one class of shares referred to as equity shares having a par value of Rs. 10. Each holder of equity shares is entitled to one vote per share.

3. The Company has not declares any dividend during the year.

Secured By

i) Hypothecation of Stocks of Raw material, Stocks - In Process & Finished Goods, Plant & Machinery

ii) Equitable Mortgage of Land, building at Faridabad, Thane, Bangaluru & Pune and pledge of Fixed deposits of Rs. 1.00 Cr.

iii) Guaranteed by (5) Directors, Minihyd Hydraulics Ltd., Ganpati Handtex Pvt. Ltd.

4. Contigent liability not provided for:-

a) Claims against the company not acknowledged as liabilities in respect of:

Particulars 31.3.2015 31.3.2014

Sales Tax Matters 823,523 823,523

Less: Advance Paid 247,057 247,057

576,466 576,466

b) In respect of Bank Guarantees given by Bank for Rs. 172.89 Lacs (previous year Rs.163.14 Lacs).

5. As required by Accounting Standard (AS 28)"impairment of Assets", the management has carried out the assessment of impairment of assets and no impairment loss has been recognised during the year other than the assets discarded/ dismantled and written off to Profit and loss account.

6. Information regarding capacity,production,sales & closing stocks :

a) Licensed Capacity

The Central Government has not prescribed the Licensed Capacity of the Company

Installed Capacity

It depends on product mix and in view of the varied nature of products, installed capacity can not be specified

7. Previous year figures have been regrouped/rearranged wherever considered necessary.

8. Balance Confirmations:

Sundry Debtors, Loans & Advances and Creditors balances are subject to confirmation, reconciliation and consequent adjustment, if any.

9. Segment Reporting

The Company's operating business is organised and managed according to a single primary reportable business segment namely 'Lubrication systems . Accordingly, information relating to segmental reporting as per Accounting Standard-17 is not required to be furnished.

10. Related Party Disclosures:

Related party disclosures as required by AS-18 Related Party Disclosures " are given below:- 1. Relationship

(i) Subsidiaries Ganpati Handtex Pvt. Ltd. (Since 14/09/2011)

(ii) Joint Venture/Joint Control & Associates NIL

(iii) Key management personnel :-

a. ) Mr. V.K.MITTAL - Managing Director

b. ) Mr. V.K.GUPTA - Whole Time Director

c. ) Mr. AMAN MITTAL - Whole Time Director

d. ) Mrs. MADHU MITTAL - Whole Time Director

e. ) Mr. ANSH MITTAL - Whole Time Director

Relatives of key management personnel ( With whom transactions have taken place) :- Swati Mittal

(iv) Other related parties :-Minihyd Hydraulics Ltd

Shree Ganpati Boxmaker Pvt. Ltd.

11. Employee Benefits

Provision for Gratuity & Leave encashment has been made by management's own calculation & not by Actuary valuation which is required as per Accounting Standard No. 15.

12. No Interest has been paid/ provided on credit from Micro, Small & Medium enterprises as no amount was overdue at any time.

13. Depreciation has been provided as per Scheduoe XIV of the Compnies Act, 1956. As per the management depreciation as per Schedule II of the Companies Act, 2013 will be provided from the FY 2015-16 onwards.


Mar 31, 2014

1. NOTE:

1 The Company has only one class of shares referred to as equity shares having a par value of Rs. 10. Each holder of equity shares is entitled to one vote per share.

2 The Company has not declares and dividend during the year

2. Contigent liability not provided for:-

a) Claims against the company not acknowledged as liabilities inrepect of:

Particulars 31.3.2014 31.3.2013

Sales Tax Matters 823,523 -

Less: Advance Paid 247,057 -

576,466 -

b) In respect of Bank Guarantees given by Bank for Rs. 163.14 Lacs (previous year Rs.106.49 Lacs).

3. As required by Accounting Standard (AS 28)"impairment of Assets", the management has carried out the assessment of impairment of assets and no impairment loss has been recognised during the year other than the assets discarded/ dismantled and written off to Profit and loss account.

4. Previous year figures have been regrouped/rearranged wherever considered necessary.

5. Balance Confirmations:

Sundry Debtors, Loans & Advances and Creditors balances are subject to confirnation, reconciliation and consequent adjustment, if any.

6. Segment Reporting

The Company''s operating business is organised and managed according to a single primary reportable business segment namely ''Lubrication systems ". Accordingly, information relating to segmental reporting as per Accounting Standard-17 is not required to be furnished.

7. Employee Benefits

Provision for Gratuity & Leave encashment has been made by management''s own calculation & not by Actuary valuation which is required as per Accounting Standard No. 15.

8. No Interest has been paid/ provided on credit from Micro, Small & Medium enterprises as no amount was overdue at any time.


Mar 31, 2013

1. Company overview

Cenlub Industries Limited is an engineering company primarily engaged in designing, engineering, manufacturing, supply, installation and erection of Lubrication systems.

2 Contigent liability not provided for:-

a) In respect of Bank Guarantees given by Bank for Rs. 106.49 Lacs (previous year Rs.123.38 Lacs).

b) Corporate Guarantee given to SIDBI in favour of a subsidary M/s Ganpatii Handtex Pvt. Ltd. Rs. 485 Lacs (Pr. Year 485 Lacs)

3 As required by Accounting Standard (AS 28)"impairment of Assets", the management has carried out the assessment of impairment of assets and no impairment loss has been recognised during the year other than the assets discarded/ dismantled and written off to Profit and loss account

4 Information regarding capacity,production,sales & closing stocks :

a) Licensed Capacity

The Central Government has not prescribed the Licensed Capacity of the Company

Installed Capacity

It depends on product mix and in view of the varied nature of products, installed capacity can not be specified

5 Previous year figures have been regrouped/rearranged wherever considered necessary.

6 Balance Confirmations:

Sundry Debtors, Loans & Advances and Creditors balances are subject to confirnation, reconciliation and consequent adjustment, if any.

7 Segment Reporting

The Company''s operating business is organised and managed according to a single primary reportable business segment namely '' Lubrication systems ''''. Accordingly, information relating to segmental reporting as per Accounting Standard-17 is not required to be furnished.

8 Related Party Disclosures:

Related party disclosures as required by AS-18 '''' Related Party Disclosures " are given below:-

1. Relationship

(i) Subsidiaries Ganpati Handtex Pvt. Ltd. (Since 14/09/2011

(ii) Joint Venture/Joint Control & Associates NIL

(iii) Key management personnel :- a.) Mr. V.K.MITTAL - Managing Director b.) Mr. V.K.GUPTA - Whole Time Director c.) Mr. AMAN MITTAL - Whole Time Director d.) Mrs. MADHU MITTAL - Whole Time Director e.) Mr. ANSH MITTAL - Whole Time Director

Relatives of key management personnel ( With whom transactions have taken place) :- None

(iv) Other related parties :-Minihyd Hydraulics Ltd

9 Employee Benefits

Provision for Gratuity & Leave encashment has been made by management''s own calculation & not by Actuary valuation which is not in conformity with Accounting Standard No. 15.

10 No Interest has been paid/ provided on credit from Micro, Smal & Medium enterprises as no amount was overdue at any time.


Mar 31, 2012

The accompanying notes are an integral part of the financial statements

NOTE:

1 The Company has only one days of shares referred to as equity shares having a par value of Rs. 10. Each holder of equity shares Is entitled to one vote per share.

2 The Company declares and pays dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

3 During the year ended March 31, 2012, the amount of dividend per share recognized as distribution to equity shareholders is Rs. 2.50/- (previous year Rs. 2.50/-). The total dividend appropriation for the year ended March 31, 2012 amounted to Rs. 119.71 lacs (previous year Rs. 119.71 lacs) inducing corporate dividend tax of Rs. 16.71 lacs (previous year Rs. 16.71 lacs).

Secured By

I] Hypothecation of Stocks of Raw material, Stocks - In Process & Finished Goods, Plant & Machinery i) Equitable Mortgage of Land, building at Faridabad, Thane & Pune and pledge of Fixed deposits of Rs. 0.79 Crone V) Guaranteed by Directors. Mlnlhvd Hydraulics Pvt. Ltd.

NOTE

A Fixed deposits under lean marked in favour of the bank for CC limits & bank guarantee which are not available for use of the company

1 Confluent liability not provided for:-

a) In respect of Bank Guarantees given by Bank for Rs. 123.38 Lacs (previous year Rs.74.24 Lacs).

b) Corporate Guarantee given to SIDBI In favour of a subsidiary M/s Ganpatll Handtex Pvt. Ltd. Rs. 485 Lacs (Pr. Year Nil)

2 As required by Accounting Standard (AS 28)"impairment of Assets", the management has carried out the assessment of Impairment of assets and no impairment loss has been recognized during the year other than the assets discarded/ dismantled and written off to Profit and loss account

3 Information regarding capacity, production, sales ft closing stocks :

a) Licensed Capacity

The Central Government has not prescribed the Licensed Capacity of the Company

Installed Capacity

It depends on product mix and In view of the varied nature of products, Installed capacity cannot be specified

NOTE

1. Related party relationship is as identified and certified by the Management.

2. No amount has been provided as doubtful debts, written off or written back In the year In respect of debts due to above related parties.

4 Being the first year of consolidated finial statements, previous year figures and Cash flow statement Is not given

5 Balance Confirmations:

Sundry Debtors, Loans & Advances and Creditors balances are subject to confirmation, reconciliation and consequent adjustment, If any.

6 Segment Reporting

The Company's operating business Is organized and managed according to a single primary reportable business segment namely ' Lubrication systems ". Accordingly, information relating to segmental reporting as per Accounting Standard-17 is not required to be furnished.

7 Related Party Disclosures:

Related party disclosures as required by AS-18 " Related Party Disclosures " are given below:-

1. Relationship

0 Joint Ventuie/Joint Control 8i Associates NIL

(ii) Key management personnel :-

a.) Mr. V.K. MITTAL - Managing Director

b.) Mr. V.K.GUPTA - Whole Time Director

c.) Mr. AMANMUTAL-Whole Time Director

d.) Mrs. MADHU MITTAL-Whole Time Director

e.) Mr. ANSH MnTAL-Whole Time Director

Relatives of key management personnel {With whom transactions have taken place)None

(iii) Other related parties :-Minihyd Hydraulics (P) Ltd

NOTE :-

1. Related party relationship Is as Identified and certified by the Management.

2. No amount has been provided as doubtful debts written off or written back In the year In respect of debts due to above related parties.

8 Previous year figures have been regrouped/rearranged wherever considered necessary.

9 Balance Confirmations:

Sundry Debtors, Loans & Advances and Creditors balances are subject to confirmation, reconciliation and consequent adjustment, if any.

10 Segment Reporting

The Company's operating business is organized and managed according to a single primary reportable business segment namely ' Lubrication systems ". Accordingly, information relating to segmental reporting as per Accounting Standard-17 Is not required to be furnished.

11 Employee Benefits

Provision for Gratuity & Leave encashment has been made by management's own calculation & not by Actuary valuation which is not in conformity with Accounting Standard No. 15.

12 Provision for leave encashment liability up to 31/03/2011 not provided so far has been booked in opening surplus & not through Profit & Loss A/c.


Mar 31, 2010

1. The names of small scale Industries to whom the company owes any sum together with interest out-standing for more than thirty days are:-

Minihyd Hydraulics (P) Ltd.

Deep Automation

Switzer Instrument Ltd.

Ellecha Engineering Products

R K Control Instruments P Ltd.

SBEM PVT LTD

Paul Machine Tools

Hyfit Engineers

Jammu Timber Stores

Nirmal Industrial Controls P Ltd.

Flexpro Electricals P Ltd.

Floster Engineers P Ltd.

U T Pump & Systems (P) Ltd.

H T A Instrumentation Pvt. Ltd.

Trulock Hydromatics P. Ltd.

H P Valves & Fittings India P Ltd.

Payment against supplies from S.S.I. are generally made in accordance with agreed terms. However as per Management, there are no claims from parties for interest on overdue payments.

2. As required by Accounting Standard (AS 28)"impairment of Assets", the management has carried out the assessment of impairment of assets and no impairment loss has been recognised during the year other than the assets discarded/dismantled and written off to profit and loss account

3. Information regarding capacity,production,sales & closing stocks :

a) Licensed Capacity

The Central Government has not prescribed the Licensed Capacity of the Company

Installed Capacity

It depends on product mix and in view of varied nature of products the installed capacity cannot be specified.

4. Refer Annexure for additional information pursuant to part IV of Schedule VI to the Companies Act 1956.

5. Previous year figures have been regrouped/rearranged wherever considered necessary.

6. Balance Confirmations :

Sundry Debtors, Loans & Advances and Creditors balances are subject to confirnation, reconciliation and consequent adjustment, if any.

7. Segment Reporting

The Companys operating business is organised and managed according to a single primary reportable business segment namely Lubrication systems . Accordingly, information relating to segmental reporting as per Accounting Standard-17 is not required to be furnished.

17. Related Party Disclosures:

Related party disclosures as required by AS-18 "Related Party Disclosures" are given below:-1. Relationship

(i) Subsidiaries / Holding Companies NIL

(ii) Joint Venture/Joint Control & Associates NIL

(iii) Key management personnel :-

a.) Mr. VIJENDRA KUMAR MITTAL - Managing Director

b.) Mr. VIRENDRA KUMAR GUPTA - Whole Time Director c.) Mr. AMAN MITTAL - Whole Time Director

d.) Mrs. MADHU MITTAL - Whole Time Director

e.) Mr. ANSH MITTAL - Whole Time Director Relatives of key management personnel ( With whom transactions have taken place) :- None

(iv) Other related parties :- Minihyd Hydraulics (P) Ltd

 
Subscribe now to get personal finance updates in your inbox!