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Notes to Accounts of Chandra Prabhu International Ltd.

Mar 31, 2015

1.Disclosure in respect of Related Party Disclosure (As per Revised AS -18)

The Management has identified the following Companies and individuals as related parties of the Company for the year ended 31st March, 2015 for the purposes of reporting as per AS 18 — "Related Party Transactions":-

(A) Name of related parties and description of relationship:

1. Subsidiaries

Alsan Rubber And Chemicals Pvt. Ltd. 100% Holding (w.e.f. 30.07.2014)

2. Fellow Subsidiaries Nil

3. Associates Nil

4. Key Managerial Personnel & their Relatives

Mr. Akashjain - .Managing Director Mr. Vikas Jain - Brother

5. Companies where key Managerial Personnel & their Relatives have significant influence:

South West Pinnacle Exploration Pvt Ltd.

2 Disclosure required by clause 32 of the Listing Agreement

Amount of Loans/Advances in the nature of loans outstanding from subsidiaries during 2014-15 - NIL

3. Contingent Liabilities (not provided for) in respect of:

Amount in Rs. S No Contingent Liabilities 31.03.2015 31.03.2014

1 Foreign LCs $ 7,32,324 @ Rs. 62.59/- 45,836,159 42,822,203

2 Demands not acknowledged asdebts and not provided for, in respect of Nil Nil which the matters are in appeal and exclusive of the effect of similar matters in respect of assessments remaining to be completed

4. Employees Benefit Plans

Defined Contribution Plan

A separate trust has been established covering gratuity liability of staff. The Trust has taken a policy on 01/07/2011 under Group Gratuity Insurance Scheme of LIC under the defined contribution plans. Every employee who has completed three years or more of services is eligible for a Gratuity on seperation at 15 days' bsaic salary(last drawn salary) for each completed year of service. The company has also taken external Actuarial Valuation for determining the liability for future gratuity benefits but has considered LIC Valuations for company accounts. The assumptions of the Actuary for unfunded defined gratuity plan are worked out as under :

5. Segment Reporting

The Company is predominantly engaged in commodities trading of Rubber & Chemicals and Coal, which has been identified as main business segment

6. Due to Micro Small & Medium Enterprises

The companies has no dues to Micro, Small & Medium Enterprises during the year ended March 31,2015


Mar 31, 2014

Disclosure in respect of Related Party Disclosure (As per Revised AS — 1)

The Management has identified the following Companies and individuals as related parties of the Company for the year ended 31st March, 2014 for the purposes of reporting as per AS 18 "Related Party Transactions":-

(A) Name of related parties and description of relationship:

1. Subsidiaries Nil

2. Fellow Subsidiaries Nil

3. Associates Nil

4. Key Managerial Personnel & their Relatives

Mr. Akash Jain - Managing Director

Mr. Vikas Jain - Brother

5. Companies where key Managerial Personnel & their Relatives have significant influence:

South West Pinnacle Exploration Pvt. Ltd.

Note 2

Contingent Liabilities (not provided for) in respect of:

Amount in

S No Contingent Liabilities 31.03.2014 31.03.2013

1 Foreign LCs $ 7,14,276.00 @ Rs. 59.95/- 42,822,203 83,890,455

2 Bank Guarantee (Indian) - -

3 Corporate Guarantee - -

4 Demands not acknowledged as debts and not provided for, in respect of Nil Nil which the matters are in appeal and exclusive of the effect of similar matters in respect of assessments remaining to be completed

Note 3

Employees Benefit Plans

Defined Contribution Plan

A separate trust has been established covering gratuity liability of staff. The Trust has taken a policy on 01/07/2011under Group Gratuity Insurance Scheme of LIC under the defined contribution plans. Every employee who has completed three years or more of services is eligible for a Gratuity on seperation at 15 days'' bsaic salary(last drwn salary) for each completed year of service. The company has also taken external Actuarial Valuation for determining the liability for future gratuity benefits but has considered LIC Valuations for company accounts. The assumptions of the Actuary for unfunded defined gratuity plan are worked out as under :

Note 4

Segment Reporting

The Company is predominantly engaged in commodities trading of Rubber & Chemicals and Coal, which has been identified as main business segment.

Note 5

Due to Micro Small & Medium Enterprises

The companies has no dues to Micro, Small & Medium Enterprises during the year ended March 31, 2014.


Mar 31, 2013

Background

Chandra Frabhu International Ltd is a Company registered with Rostra, of New LMUl The Company is a Public limited Company wbow shares are listed b. BSE. Chandra Prabhu International Ltd. is a well- known name in the trading of Synthetic Rubber & Chemicals and Coal

1 Cash Flow Statement

Cash Flows are reported using the Indirect Method, whereby profit / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals 01 accruals of apst or future cash receipts or payments. The cash flow operating, investing and financing activities of the company are segregated based on the available information,

2 Segment Reporting

The company identifies primary segments based on the dominant Source, nature of fislts and returns and the internal organisation and management structure, The operating segments are the segments for which separate financial information is available and for which operating profit/loss amount arc evaluated regularly by the executive management in deciding how to allocate fesouces and in assessing performance.

Common allocable costs are allocated to each segment pro-rata on die basis of revenue of each segment to ihc total revenue of rhe Company,

Due to Mitt* Small & Medium Enlttptiscs

TIk Lumpaniea has in. daes to Small A Medium Knttiprtses during the yen ended Match 11, 2013


Mar 31, 2012

Background

Chandra Prabhu International Ltd. is a Company registered with Registrar of Companies, Delhi & Haryana, New Delhi. The Company is a Public Limited Company whose shares arc listed in BSE. Chandra Prabhu International Ltd. is a well- known name in the trading of Synthetic Rubber & Chemicals and Coal.

1. Gratuity Fund Scheme

The company has taken group gratuity insurance scheme from LIC of India under defined contribution plan determined on the basis on Projected Unit Credit Method carried out as at die Balance Sheet date. The company accounts for liability of future gratuity benefit based on LIC valuation on projected unit credit medwd carried out for assessing liability as at the reporting date.

2. Compensated Absenses

The liability of leave encashment and other compensated absences is recognised on arithmetical basis at the end of the year are charged to revenue each year.

3. Employee Pension Scheme

Employees contribution to Employees Pension Scheme, a defined contribution plan is made in accordance with The Employees Pension Scheme, 1995.

4 Taxation

Current tax is determined as the amount of tax payable in respect of taxable income for the period. Deferred tax is recognized subject to consideration of prudence in respect of deferred tax assets on timing differences being the difference in income and accounting that originates in one period and capable of reversal in one or more subsequent period.

5 Earning Per Share

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period.

6 Cash Flow Statement

Cash Flows are reported using the Indirect Mediod, whereby profit / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of apst or future cash receipts or payments. The cash flows from operating, investing and financing activities of the company are segregated based on the available infomation.

7 Segment Reporting

Identification of segments

The company identifies primary segments based on the dominant source, nature of risks and returns and the internal organisation and management structure. The operating segments are the segments for which separate financial information is available and for which operating profit / loss amounts are evaluated regularly by the executive Management in deciding how to allocate resources and in assessing performance.

Allocation of common costs:

Common allocable costs are allocated to each segment pro-rata on the basis of revenue of each segment to the total revenue of the Company.

Unallocated items:

Unallocated items include income and expenses which are not allocated to any reportable business segment.

Segment Policies:

The Company prepares its segment information in conformity with the accounting policies adopted for preparing and

presenting the Financial Statements of the Company as a whole.

8 Provisions, Contingent Liabilities and Contingent Assets

Provisions are recognized when there is a present legal obligation as a result of past events and where it is probable that there will be outflow of resources to settle the obligation and when a reliable estimate of the amount of the obligation can be made.

Contingent liabilities are recognized only when there is a possible obligation arising from past events due to occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Company or where any present obligation cannot be measured in terms of future outflow of resources or where a reliable estimate of the obligation cannot be made. Obligations are assessed on an on going basis and only those having a largely probable

Contingent Assets are not recognized in the Financial Statement.

Note No. 9

Notes on accounts for the year ended March 31, 2012

Figures have been rounded off to the nearest rupee.

Till the year ended 31 March 2011, the company was using pre-revised Schedule VI to the Companies Act 1956, for preparation and presentation of its financial statements. During the year ended 31 March 2012, the revised Schedule VI notified under the Companies Act 1956, has become applicable to the company. The company has reclassified previous year figures to conform to this year's classification.


Mar 31, 2010

1. Contingent liabilities (not provided for) in respect of :

Demands not acknowledged as debts and not provided for, in respect of which the matters are in appeal and exclusive of the effect of similar matters in respect of assessments remaining to be completed.

2009-2010 2008-2009

(Amt.inRs.) (Amt. in Rs.)

a) Foreign LCs 25,258,726 Nil

b) An ex-employee has filed a suit against the Company before the labour court against termination, liabilities unascertained.

c) The Income Tax cases decided in Companys favour by ITAT and Department is in further Appeal for A.Y. 1997-98 & 1998-99 although The Hoble Court has decided similar issues in favour of assesses.

d) The company has given a guarantee to L & T Finance Ltd. in respect of loan taken by its subsidiary South West Drilling & Infrastructure Ltd.

2. Balances of sundry debtors & sundry creditors are subject to confirmations from the respective parties.

3. There are no outstanding balances as on 31s March 2010 in Unclaimed Dividend Account.

4. Previous years figures have been regrouped / rearranged / re-casted wherever necessary to make them comparable with current years figures. All figures have been rounded off to the nearest rupee.

5. Related party transactions :

a) Related Party where control exist: Subsidiaries

i) Chandra Prabhu Overseas Ltd.

ii) South West Drilling & Infrastructure Limited

b) Name of the Related party where transactions have taken place during the year

i) Nil

ii) Key Management Personnel.

Managing Director

Sh.AkashJain

Directors

Sh. Piyush Jain (Ex. Director upto 31/05/09) (Director upto 18/11/09)

Sh. Prakash Goyal

Sh. Sudhanshu Mishra

Sh.Ved Prakash Goel

Sh. Jagdish Jhunjhunwala

c) Related Party Transactions (Key Management Personnel)

 
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