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Notes to Accounts of Denis Chem Lab Ltd.

Mar 31, 2016

The Company has one class of equity shares having par value of Rs.10 each. Each shareholder is eligible for one vote per share held. The dividend, if any, proposed by the Board of Directors is subject to the approval of the shareholders. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amount, in proportion to shareholding.

D. The Board of Director of a company, at their meeting held on 12th December, 2015, and as approved by the members at their extra ordinary general meeting held on 12th December, 2015, have issued and alloted 27,00,000 preferential warrants to non promoters as per SEBI ICDR guidelines at a price of Rs.60 per warrant, entitling the holder of such warrants to apply for and obtain one equity share of face value of Rs.10/- each fully paid up against each warrant on or before 18 month from the date of allotment i.e. 12th December, 2015. 25% of the said price of warrant was paid up on subscription and balance 75% is to be paid upon exercise of entitlement to convert into equity shares as stated above .

I. Corporate loan from Axis Bank Limited is secured against first pari passu charge on the land at Block No. 460 and land at block No.457 of Village- Chhatral, Taluka : Kalol, Dist Gandhinagar, Plant and Machinery of the company with other consortium banks, fixed assets to be acquired out of bank finance with other consortium lenders. Further it is also secured against second charge on respective units of immovable properties & by personal guarantee of the Managaing Director of the company.

II. Corporate loan from Bank of India is secured against first pari passu charge on the land at Block No. 460 and land at block No.457 of Village- Chhatral, Taluka : Kalol, Dist Gandhinagar, Plant and Machinery of the company with other consortium banks, fixed assets to be acquired out of bank finance with other consortium lenders. Further it is also secured against second charge on respective units of immovable properties & by personal guarantee of the Managaing Director of the company.

III. Loan from Life Insurance Corporation of India is Secured against assignment of Keyman Insurance Policy .

IV. Machinery loan from Intec Capital Limted amounting to Rs.45.57 Lakhs (Previous year Rs.60.00 Lakhs) and Reliance Capital Limited amounting to Rs.140.82 Lakhs (Previous year Rs.39.89 Lakhs) are secured against hypothecation of concerned machinery.

V. Vehicle Loan from Kotak Mahendra Bank Ltd. amounting to Rs.4.67 Lakhs (Previous year Rs.6.21 Lakhs) is secured against hypothecation of vehicle.

I. Working Capital Loans from the Axis Bank is Secured against equitable mortagage of land situated at Block No . 460 of Village - Chhatral, Taluka : Kalol, Dist Gandhinagar. and exclusive charge by way of Stocks of Raw Materials, Work - in- Process , Finish Goods, Consumable Stores and Spares and such other movables including Book Debts. Further it is also secured against personal guarantee of Managing Director of the company.

II. Working Capital Loans from the Bank of India is Secured against equitable mortagage of land situated at Block No. 460 of Village - Chhatral, Taluka : Kalol, Dist Gandhinagar. and exclusive charge by way of Stocks of Raw Materials, Work - in- Process , Finish Goods, Consumable Stores and Spares and such other movables including Book Debts. Further it is also secured against personal guarantee of Managing Director of the company.

b) Estimated amount of contracts remaining to be executed on capital account and not provided for Rs.2,69,22,334/- (Previous Year Rs.5,10,47,302/-)

c) Balances of Debtors, Creditors and Loans and Advances in the Balance Sheet are subject to confirmation.

d) In the opinion of the management of the Company, provisions for all known liabilities have been made in the books of accounts. Further, the current assets and liabilities are stated at the value realizable in the ordinary course of business.

f) Under the Micro, Small and Medium Enterprises Development Act, 2006; certain disclosures are required to be made relating to Micro, Small and Medium Enterprises. The company is in the process of compiling relevant information from its suppliers about their coverage under the Act. Since the relevant information is not available, no disclosures have been made in the accounts.

g) The management of the company has carried out an exercise to ascertain impairment of Fixed Assets. In the opinion of the management of the company there are no indications of impairment of assets as at 31/03/2016 and therefore no effect of impairment is required to be given in the books of accounts.

i) C.I.F. Value of Imports in respect of Raw Materials : Nil (Previous Year Rs.3,71,484/-)

j) F.O.B. Value of Exports in respect of Goods : Rs.5,42,04,007/-(Previous Year Rs.4,21,72,467/-)

Note: The amount in bracket represents the figures in respect of previous year.

The related party as well as transaction shown above is as certified by the Managing Director of the Company.

l) The figures of previous year have been regrouped wherever necessary.


Mar 31, 2015

Corporate Information:

Denis Chem Lab Limited is public limited company domiciled in India and incorporated in 1982 under the provisions of Companies Act, 1956. Its shares are listed on BSE in India. The company is engaged in the business of manufacturing of Pharmaceutical Products.

1) Contingent Liability not provided for:

Particulars As At As At 31-03-2015 31-03-2014 Rs. Rs.

i) In respect of counter guarantee 4,88,32,782 3,79,67,223 given by the bank

ii) Disputed demand not acknowledged as debt against which the company has preferred appeal:

Sales Tax 10,117,774 10,151,901

Income Tax 12,96,280 3,55,690

2) Estimated amount of contracts remaining to be executed on capital account and not provided for Rs.5,10,47,302/- (Previous Year Rs. 21,37,05,000/-)

3) Balances of Debtors, Creditors and Loans and Advances in the Balance Sheet are subject to confirmation.

4) In the opinion of the management of the Company, provisions for all known liabilities have been made in the books of accounts. Further, the current assets and liabilities are stated at the value realisable in the ordinary course of business.

5) Under the Micro, Small and Medium Enterprises Development Act, 2006; certain disclosures are required to be made relating to Micro, Small and Medium Enterprises. The company is in the process of compiling relevant information from its suppliers about their coverage under the Act. Since the relevant information is not available, no disclosures have been made in the accounts.

6) The management of the company has carried out an exercise to ascertain impairment of Fixed Assets. In the opinion of the management of the company there are no indications of impairment of assets as at 31/03/2015 and therefore no effect of impairment is required to be given in the books of accounts.

7) Unsecured Loans:

Unsecured loan from banks includes a sum of Rs. Nil (Previous year Rs. 4,12,813/-) borrowed from the different banks for the purpose of the business of the company sanctioned to Managing Director of the company in his personal capacity.

8) C.I.F. Value of Imports in respect of Raw Materials : Rs. 3,71,484/-(Previous Year Rs. 13,44,980/-)

9) F.O.B. Value of Exports in respect of Goods : Rs. 4,21,72,467/-

10) RELATED PARTY DISCLOSURES:-

a) Name of the Related Parties:-

i) Associate Company : Denis Plast Limited

ii) Key Management Personnel : Dr. Himanshu C. Patel

& their relatives : Dr. Himanshu C. Patel (HUF)

Mr. Nirmal H. Patel

iii) Directors : Shri Dinesh B. Patel

Dr. Gaurang Dalal

Ms. Anar H. Patel

Ms. Gauri S. Trivedi

Mr. Janak G. Nanavaty

The related party as well as transaction shown above is as certified by the Managing Director of the Company.

11) The figures of previous year have been regrouped wherever necessary.

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