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Notes to Accounts of Dhoot Industrial Finance Ltd.

Mar 31, 2015

1. Capital commitment for Purchase of Fixed Assets amounting to Rs, 25,75,074/-(Previous Year Rs, 63,89,625/-).

2. Depreciation:

Effective from 01.04.2014, the Company has adopted the useful lives of its Tangible Fixed Assets as per Part C of Schedule II of the Companies Act, 2013 and provided depreciation accordingly.

In respect of assets of which the remaining useful lives have been exhausted as on April 1, 2014, the carrying amount of assets after retaining residual value, amounting to Rs, 0.59 lacs (Net of Deferred Tax Credit of Rs, 0.29 lacs) has been recognized in the opening balance of General Reserve.

The provision of depreciation in terms of Companies Act 2013 as aforesaid has resulted in lower provision by Rs, 4.20 lacs for the year as compared to the provision in terms of erstwhile Companies Act, 1956.

3. Detail of Loan given Under Section 186 (4) of the Companies Act.2013

Long-Term Loans and Advances Include Loan given @ 18% p.a. to Gei Industrial Systems Ltd. Amounting to Rs,.0.91 Crore (Previous year Rs,. 1.09 Crore) due for repayment.

Short-Term Loans and Advances includes Loan given @ 15% p.a. to Videocon Industries limited Rs,.1 Crore (Previous Year Rs,.Nil) & Mr. N.Murkumbi amounting to Rs,.3 Crore (Previous Year Rs,.4 Crore) both due for repayment within 1 year

4. The provisions of Accounting Standard 15 (Revised) on "Employee Benefits" are not applicable to the Company except for Leave Encashment. However, the Company does not allow any accumulation of leave and employees are allowed to encash it on or after 31st March of every year.

5. Segment Reporting:

The Company has disclosed Business Segment as the primary segment. The Company operates two business segments: Trading & Power Generation. Business Segments have been identified as reportable primary segments in accordance with Accounting Standard – 17 issued by the Institute of Chartered Accountants of India, taking into account the nature of products, risks and returns, organization structure and internal reporting system.

6. Disclosure in respect of related parties as defined in Accounting Standard – 18 wherein transactions have taken place during the year are given below:

Key Management Personnel & Relatives:

Mr. R. K. Dhoot (Managing Director), Mr. R. G. Dhoot (Chairman), Mrs. M. R. Dhoot (w/o Chairman), Mrs. V. R. Dhoot (w/o M. D.), Mr. Rishikesh R. Dhoot (s/o Director), Mst. Rohan R. Dhoot (s/o Director).

7. Earnings Per Share (EPS)

The earnings per share have been computed in accordance with the 'Accounting Standard 20 – Earnings per Share.

8. Expenditure incurred in foreign currency for foreign travelling of Rs, 19,69,657/- (Previous Year Rs, 8,32,306/-).

9. In the opinion of the Board, current assets, loans and advances have a value on realization at least equal to the amount at which they are stated in the accounts.

10. Debtors & Creditors balances are subject to confirmation. Adjustments if any, will be made in the accounts on the receipt of such confirmations.

11. Previous year figures have been regrouped, reworked, reclassified & rearranged wherever necessary


Mar 31, 2014

1. Capital commitment for Purchase of Fixed Assets amounting to Rs. 63,89,625/-(Previous Year Rs. 63,89,625/-).

2. Segment Reporting:

The Company has disclosed Business Segment as the primary segment. The Company operates two business segments: Trading & Power Generation. Business Segments have been identified as reportable primary segments in accordance with Accounting Standard - 17 issued by the Institute of Chartered Accountants of India, taking into account the nature of products, risks and returns, organisation structure and internal reporting system.

3. Disclosure in respect of related parties as defined in Accounting Standard - 18 wherein transactions have taken place during the year are given below:

Key Management Personnel & Relatives:

Mr. R. K. Dhoot (Managing Director), Mr. R. G. Dhoot (Chairman), Mrs. M. R. Dhoot (w/o Chairman), Mrs. V. R. Dhoot (w/o M. D.), Mr. Rishikesh R. Dhoot (s/o Director), Mst. Rohan R. Dhoot (s/o Director).

Enterprises over which key management personnel exercise control:

1. Young Buzz India Ltd. 2. Iris Resources Pvt. Ltd. 3. Shrotra Enterprises Pvt. Ltd. (Formerly Known as Pine Fresh Minerals Pvt. Ltd.) 4. Dhoot Instruments Pvt. Ltd. 5. Prompt Traders & Investments Pvt. Ltd. 6. Dhoot Meters Private Ltd.

* Maximum Loan Balance Rs. 2,26,65,434/- ( Previous year Rs. 61,50,000/-) and Maximum Advance balance Rs. 5,62,97,000/- ( Previous year Rs. 12,13,98,000/-) during the year.

4. The provisions ofAccounting Standard 15 (Revised) on "Employee Benefits" are not applicable to the Company except for Leave Encashment. However, the Company does not allow any accumulation of leave and employees are allowed to encash it on or after 31st March of every year.

5. Earning Per Share (EPS)

The earnings per share have been computed in accordance with the Accounting Standard 20 - Earnings per Share.

The numerators and denominators used to calculate Basic and Diluted Earnings per Share:

6. Expenditure incurred in foreign currency for foreign travelling of Rs. 8,32,306/- (Previous Year Rs. 6,78,173/-).

7. In the opinion of the Board, current assets, loans and advances have a value on realization at least equal to the amount at which they are stated in the accounts.

8. Debtors & Creditors balances are subject to confirmation. Adjustments if any, will be made in the accounts on the receipt of such confirmations.

9. Previous year figures have been regrouped, reworked, reclassified & rearranged wherever necessary


Mar 31, 2013

1 Capital commitment for Purchase of Hxed Assets amounting to < 63,89,62o/-(Previous Year Rs 73,23,525/-).

2 Segment Reporting:

The Company has disclosed Business Segment as the primary segment. The Company operates two business segments: Trading & Power Generation. Business Segments have been identified as reportable primary segments in accordance with Accounting Standard -

3 issued by the Institute of Chartered Accountants of India, taking into account the nature of products, risks and returns, organization structure and internal reporting system.

4 Disclosure in respect of related parties as defined in Accounting Standard - 18 wherein transactions have taken place during the year are given below:

Key Management Personnel & Relatives:

Mr. R. K. Dhoot (Managing Director), Mr. R. G Dhoot (Chairman), Mrs. M. R. Dhoot (w/o Chairman), Mrs. V. R. Dhoot (w/o M. D.), Mr. Rishikesh R. Dhoot (s/o Director), Mst. Rohan R. Dhoot (s/o Director).

Enterprises over which key management personnel exercise control:

1. Young Buzz India Ltd. 2. Iris Resources Pvt Ltd. 3. Shrotra Enterprises Pvt. Ltd. (Formerly Known as Pine Fresh Minerals Pvt. Ltd.) 4. Dhoot Instruments Pvt. Ltd.

5. Prompt Traders & Investments Pvt. Ltd.

- Maximum Loan Balance Rs 61,50,000/- ( Previous year Rs 1,11,00,000/-) and Maximum Advance balance Rs 12,13,98,000/- ( Previous year Rs 4,68,50,000/-) during the year.

5 The provisions of Accounting Standard 15 (Revised) on "Employee Benefits" are not applicable to the Company except for Leave Encashment. However, the Company does not allow any accumulation of leave and employees are allowed to encash it on or after 31st March of every year.

6 Earnings Per Share (EPS)

The earnings per share have been computed in accordance with the ''Accounting Standard 20 - Earnings per Share. The numerators and denominators used to calculate Basic and Diluted Earnings per Share:

7 Expenditure incurred in foreign currency for foreign travelling of Rs 6,78,173/- (Previous YearRs 9,03,373/-).

8 In the opinion of the Board, current assets, loans and advances have a value on realization at least equal to the amount at which they are stated in the accounts.

9 Debtors & Creditors balances are subject to confirmation. Adjustments if any, will be made in the accounts on the receipt of such confirmations.

10 Previous year figures have been regrouped, reworked, reclassified & rearranged wherever necessary


Mar 31, 2011

1. Segment Reporting:

The Company has disclosed Business Segment as the primary segment. The Company operates two business segments: Trading segments & Power Generation segments. Business Segments have been identified as reportable primary segments in accordance with Accounting Standard - 17 issued by the Institute of Chartered Accountants of India, taking into account the nature of the products, the differing risks and returns, the Organisation structure and internal reporting system.

2. Disclosure in respect of related parties as defined in Accounting Standard - 18 with wherein transaction have taken place during the year are given below:

Key Management Personnel & Relatives:

Mr. R. K. Dhoot (Managing Director), Mr. R. G. Dhoot (Chairman), Mrs. M. R. Dhoot (w/o Chairman), Mrs. V. R. Dhoot (w/o M. D.), Mr. Rishikesh R. Dhoot (s/o Director), Mst. Rohan R. Dhoot (s/o Director).

Enterprises over which key management personnel exercise control:

1. Young Buzz India Ltd. 2. Iris Resources (P) Ltd. 3. Pine Fresh Minerals (P) Ltd.

Maximum Balance 2,30,00,000/- (1,55,00,000/-) during the year.

3. Debtors outstanding for more than six months includes 17,50,000/- (Previous Year 22,50,000/-) due from a party. The Company has considered the recovery of principal amount as good, though no written assurance / confirmation is received.

4. The provisions of Accounting Standard 15 (Revised) on "Employee Benefits" are not applicable to the Company except for Leave Encashment. However, the Company does not allow any accumulation of leave and employees are allowed to encash it before 31st March of every year.

5. In respect of long-term foreign currency monetary items, the Company earlier followed a policy of recording all exchange differences to the profit and loss account. In line with notification of the Companies (Accounting Standards) Amendment Rules 2006 issued by Ministry of Corporate Affairs on March 31, 2009 amending Accounting Standard - 11 (AS - 11) 'The Effects of Changes in Foreign Exchange Rates (revised 2003)´, the Company has chosen to exercise the option under para 46 inserted in AS - 11 by the notification. Accordingly, the foreign exchange gain for the period from Dec - 2006 upto March 2009 of 35,38,812/- is adjusted against reserves correspondingly the value of the Fixed Asset is reduced and the Net Profit before tax for the current year is reduced by 1,13,608 (Previous Year Profit higher by 28,82,801/-) due to foreign exchange loss which is adjusted to fixed assets.

6. In the opinion of the Board, current assets, loans and advances have a value on realization at least equal to the amount at which they are stated in the accounts.

7. Debtors & Creditors balances are subject to confirmation. Adjustments if any, will be made in the accounts on the receipt of such confirmations.

8. Expenditure incurred in foreign currency for foreign travelling of Rs.13,37,064/- (Previous Year Rs. 4,24,398/-).

9. Capital commitment for Purchase of Fixed Assets amounting to Rs. 73,23,525/- and Contingent Liability not provided for tax amount on form 'C' to be received from cus- tomers amounting to Rs. 9,154 for year 2008-09.

10. Previous year figures have been regrouped, reworked, reclassified & rearranged wherever necessary.


Mar 31, 2010

1. Segment Reporting:

The Company has disclosed Business Segment as the primary segment. The Company operates two business segments: Trading segments & Power Generation segments. Business Segments have been identified as reportable primary segments in accordance with Accounting Standard 17 issued by the Institute of Chartered Accountants of India, taking into account the nature of the products, the differing risks and returns, the Organisation structure and internal reporting system.

2. Disclosure in respect of related parties as defined in Accounting Standard 18 with wherein transaction have taken place during the year are given below: Key Management Personnel & Relatives:

Mr. R. K. Dhoot (Managing Director), Mr. R. G. Dhoot (Chairman), Mrs. M. R. Dhoot (w/o Chairman), Mrs. V. R. Dhoot (w/o M. D.), Mst. Rishikesh R. Dhoot (s/o Director), Mst. Rohan R. Dhoot (s/o Director).

Enterprises over which key management personnel exercise significant influence with whom transactions have been taken place during the year:

3. Debtors outstanding for more than six months includes Rs.22,50,000/- (Previous Year Rs. 54,51,021/-) due from a party. The Company has considered the recovery of principle amount against above good, though no written assurance / confirmation is received.

4. The provisions of Accounting Standard 15 (Revised) on "Employee Benefits" are not applicable to the Company except for Leave Encashment. The Company does not allow any accumulation & any employees are allowed to encash the leave before 31 st March 2010 of every year.

5. In respect of long-term foreign currency monetary items, the Company earlier followed a policy of recording all exchange differences to the profit and loss account. In line with notification of the Companies (Accounting Standards) Amendment Rules 2008 issued by Ministry of Corporate Affairs on March 31,2009 amending Accounting Standard 11 (AS-11) The Effects of Changes in Foreign Exchange Rates (revised 2003), the Company has chosen to exercise the option under para 46 inserted in AS -11 by the notification. Accordingly, the foreign exchange gain for the period from Dec 2006 upto March 2009 of Rs.35,38,812/- is adjusted against reserves correspondingly the value of the Fixed Asset is reduced and the Net Profit before tax for the current year is higher by Rs.28,82,801/- due to foreign exchange loss which is adjusted to fixed assets.

6. In the opinion of the Board, current assets, loans and advances have a value on realization at ieast equal to the amount at which they are stated in the accounts.

7. Debtors & Creditors balances are subject to confirmation, adjustments if any, will be made in the accounts on the receipt of such confirmations.

8. Earning Per Share (EPS)

The earnings per share have been computed in accordance with the Accounting Standard 20 Earnings per Share.

The numerators and denominators used to calculate Basic and Diluted Earnings per Share:

9. Particulars of Stock in Trade (As verified & valued by the Management at cost or market value which ever is lower):

10. Expenditure incurred in foreign currency Rs. 4,24,398/-(Previous Year Rs. 7,51,236/-).

11. Capital commitment for Purchase of Fixed Assets amounting to Rs.73,23,525/- and Contingent Liability not provided for tax amount on form C to be received from customers amounting to Rs. 24178/- for 2005-06 & Rs.9,154/- for 2008-09.

12. Previous year figures have been regrouped, reworked, reclassified & rearranged wherever necessary.

 
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