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Notes to Accounts of Eastern Treads Ltd.

Mar 31, 2015

1. BACKGROUND

Eastern Treads Limited was incorporated on 02/07/1993. Its shares are listed in Bombay Stock Exchange. The company is primarily engaged in the business of manufacturing and dealing of tread rubber and rubber based adhesives.

2. CONTINGENT LIABILITIES AND COMMITMENTS (to the extent not provided for)

a. Claims against the company not acknowledged as debt Demand by 5,646,168 5,455,836 KVAT Authorities in appeal pending disposal

Bank Guarantees outstanding 12,021,943 14,469,543

Vendor Finance Facility with 24,295,846 - IDBI Bank

Foreign Bills Discounting 2,542,061 6,537,314

b. Estimated amounts of contracts remaining to be executed on capital account and not provided for 31,577,300 34,198,950

3. The management has initiated the process of identifying enterprises which have provided goods and services to the company and which qualify under the definition of micro and small enterprises, as defined under Micro, Small and Medium Enterprises Development Act, 2006. The company has not received any intimation from its vendors regarding their status under Micro, Small and Medium Enterprises Development Act, 2006. Further in the view of the management, the impact of interest, if any, that may be payable in accordance with the provisions of the Act is not expected to be material.

4. Previous year figures have been regrouped /reclassified wherever necessary to suit the current year''s layout.


Mar 31, 2013

1. ACTIVITIES

Eastern Treads Limited was incorporated on 02/07/1993. Its shares are listed in Bombay Stock Exchange, Cochin Stock Exchange and Madras Stock Exchange. The Company is primarily engaged in the business of manufacturing and dealing of tread rubber and rubber based adhesives.

2. CONTINGENT LIABILITIES AND COMMITMENTS (to the extent not provided for)

a. Claims against the company not acknowledged as debt Demand by KVAT Authorities in appeal 5,455,836.00 5,435,836.00 pending disposal

b. Guarantees given by Banks against counter guarantee of the Company 10,695,000.00 12,050,491.00

c. Estimated amounts of contracts remaining to be executed on capital account and not provided for 2,826,632.00 5,276,448.00

3. RELATED PARTY DISCLOSURES

Name of the related party and nature of relationship where control exists

List of the companies in which one of the director has significant influence

Eastern Condiments Pvt Ltd Eastern Mattresses Pvt Ltd Eastern Retreads Pvt Ltd Eastea Chai Pvt Ltd Feroz Treads Pvt Ltd Sheram Treads Pvt Ltd Sumo Treads Pvt Ltd

Key Management Personnel

Navas M. Meeran M.E.Meeran M.E. Mohamed M S Ranganathan

Relative of Key Management Personnel

Alfa Rubbers Rosekhan Rubbers Sahara Treads


Mar 31, 2012

1. ACTIVITIES

Eastern Treads Limited was incorporated on 02/07/1993. The Company is primarily engaged in the business of manufacturing and dealing of tread rubber and rubber based adhesives.

2. CONTINGENT LIABILITIES AND COMMITMENTS (to the extent not provided for)

a. Claims against the company not acknowledged as debt demand by KVAT Authorities in appeal pending disposal 5,435,836.00 5,000,000.00

b. Guarantees given by Banks against counter guarantee of the company 12,050,491.00 5,103,126.00

c. Estimated amounts of contracts remaining to be executed on capital account and not provided for 5,276,448.00 6,000,000.00

3. In the opinion of the management, the current assets, loans and advances shall realise the value as show in the balance sheet, if realised in the normal course of business.

4. Balance of sundry debtors, creditors, fixed deposits & loans and advances are subject to confirmation / reconciliation.

5. RELATED PARTY DISCLOSURES

Name of the related party and nature of relationship

List of the companies in which one of the directors has significant influence

Eastern Condiments Pvt Ltd

Eastern Retreads Pvt Ltd

Feroz Treads Pvt Ltd

Sheram Treads Pvt Ltd

Key Management Personnel

Navas M. Meeran

M.E. Mohamed

M.S. Ranganathan

Relative of Key Management Personnel

Alfa Rubbers

Kappiri Rubbers

Rosekhan Rubbers

Sahara Treads

Sumo Treads Private Limited

Safine Rubbers Private Limited

Nilima Treads Private Limited

6. The management has initiated the process of identifying enterprises which have provided goods and services to the Company and which qualify under the definition of micro and small enterprises, as defined under Micro, Small and Medium Enterprises Development Act, 2006. The Company has not received any intimation from its vendors regarding their status under Micro, Small and Medium Enterprises Development Act, 2006. Further in the view of the management, the impact of interest, if any, that may be payable in accordance with the provisions of the Act is not expected to be material.

7. Previous year figures have been regrouped/reclassified wherever necessary to suit the current year's layout.


Mar 31, 2010

1. Background

Eastern Treads Limited was incorporated on 02/07/1993.The Company is primarily engaged in the business of manufacturing and dealing of tread rubber and rubber based adhesives.

Current Year Previous Year

2. Contingent liabilities not provided for in the Accounts:

a. Guarantees given by Banks against counter 999,491.00 799,491.00 guarantee of the Company

b. Demand by KVAT Authorities in appeal pending disposal 5,000,000.00 5,000,000.00

3. The Cash Credit from The Federal Bank Ltd is secured by way of first charge on the floating assets and second charge on the fixed assets ofthe Company and are further guaranteed by the Promoter Directors of the Company.

4. In the opinion of the management , the current assets, loans and advances shall realise the value as shown in the balance sheet, if realised in the normal course of business.

5. Balance of sundry debtors, creditors, loans and advances are subject to confirmation/reconciliation.

6. Disclosure in respect of related parties:- a) Name of the related party and nature of relationship

1. Associate Companies

Eastern Condiments Pvt Ltd Eastern Retreads Pvt Ltd Feroz Treads Pvt Ltd Sheram Treads Pvt Ltd

2. Key Management Personnel

M.E. Meeran

Navas M. Meeran

M.E. Mohamed

3. Relative of Key Management Personnel

Alfa Rubbers

Kappiri Rubbers

Rosekhan Rubbers

Sahara Treads

7. The management has initiated the process of identifying enterprises which have provided goods and services to the Company and which qualify under the definition of micro and small enterprises, as defined under Micro, Small and Medium Enterprises Development Act, 2006. The Company has not received any intimation from its vendors regarding their status under Micro, Small and Medium Enterprises Development Act, 2006. Further in the view of the management, the impact of interest, if any, that may be payable in accordane with the provisions of the Act is not expected to be material.

8. Previous year figures have been regrouped /reclassified wherever necessary to suit the current years layout.

 
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