Mar 31, 2016
1 : Suppliers/service providers covered under Micro, Small and Medium Enterprises (MSME) Development Act, 2006 have been determined to the extent such parties have been identified on the basis of information available with the Company. The disclosure relating to Micro and Small Enterprises are as
2 : Segment Information (Accounting Standard-17)
The Company''s entire activity is of advanced packaging solutions. As such there is only one segment viz; advanced packaging solutions, accordingly, no disclosure is required to be made under AS 17, segment reporting.
3. : Related Party Disclosures (Accounting Standard-18)
List of Related Parties and Relationship with whom transactions during the year 2015-16
Sr. Particulars__Particulars_
A Subsidiaries Flex Art FoilLimited
Ess Dee Aluminum PTE. Limited
B Key Management Personnel Mr. Sudip Dutta -Chairman
Mr. Kanwal Kishore - Executive Director wef 10.11.2015
& Cessation wef 29.02.2016
Mr. Ashis Bhattacharya - Managing Director
Ms. Vinaya Desai - Whole Time Director
Mr. Satyabrata Ray-Whole Time Director Cessation
wef 13.02.2016
Mr. Subir Ray-CFO Cessation wef 06.01.2016 Mr. Haresh Vala - CS Cessation wef 15.04.2015 Mr Manoj Jain - CS Joined wef 27.05.2015 C Relative of Key Management Personnel Ms. Aarti Dutta
Ms. Bhumika Ray Ms. Jayeeta Bhattacharya D Enterprises over which key management Vyoma Investment & Finance Co Pvt. Ltd.
Personnel and their relatives are able Ess Dee Eco Energy Pvt. Ltd.
to exercise significant influence Ess Dee Clean Coal Technologies Pvt. Ltd.
Ess Dee Infraventure Pvt. Ltd.
Clanergy Studios Pvt. Ltd.
The following transactions were carried out with the related parties in the ordinary course of business (Rs, In Lakhs
4. : Leases (Accounting Standard - 19)
Operating Lease
The Company has leased facilities under non-cancelable operating leases. The future lease payments in respect of these leases as at 31st March 2016 and 31st March 2015 are Minimum Lease payments
Ess Dee Aluminum Pte. Ltd. the wholly owned subsidiary has been established to support and facilitate the foreign business of the group with the added objective of reducing the cost of financing at a consolidation level. Though the subsidiary has not been able to commence these operations, the Company is in the process of strengthening infrastructure for this purpose. Hence the management is confident of the success of these operations from the next financial year.
5 : The Company is required to spend cumulatively Rs. 309.94 lakhs for the financial year 2015-16 towards Corporate Social Responsibility (CSR)
6 : Previous year figures have been accordingly re-grouped and reclassified.
Mar 31, 2015
1. Contingent Liabilities
Rs. in Lacs
Particulars 31st March 15 31st March 14
Contingent Liability
a) Claims against the Company not
acknowledged as debt 1,403.21 1,347.95
b) Guarantees
- given for bank loans taken by its
subsidiaries 2,700.00 4,502.99
- Others 270.00 275.45
Commitments
Capital Commitment 7,659.00 8,946.00
Total 12,032.21 15,072.39
Under the provisions of section 132 of Income Tax Act, 1961, Income Tax
Authorities had carried out search and seizure proceedings at the
premised of the company on 28th March, 2014 when they sought certain
clarifications and documents in regard to the tax liability, if any, of
the company. All relevant material was produced and provided to the IT
officials. There is no undisclosed income tax evasion, levy of penalty
for any previous years or current year and there will not be revision
in income booked in the earlier accounting years. The matter shall be
resolved as per provision of the Income tax law.
2. Suppliers/service providers covered under Micro, Small and Medium
Enterprises (MSME) Development Act, 2006 have been determined to the
extent such parties have been identified on the basis of information
available with the Company. The disclosure relating to Micro and Small
Enterprises as at 31st March 2015 are as under.
3. Segment Information ( Accounting Standard  17)
The Company''s entire activity is of advanced packaging solutions. As
such there is only one segment viz; advanced packaging solutions,
accordingly, no disclosure is required to be made under AS 17, segment
reporting.
4. Leases (Accounting Standard  19)
Operating Lease
The Company has leased facilities under non-cancelable operating
leases. The future lease payments in respect of these leases as at 31st
March 2015 and 31st March 2014 are Minimum Lease payments.
Ess Dee Aluminium Pvt Ltd the wholly owned subsidiary has been
established to support and facilitate the foreign business of the group
with the added objective of reducing the cost of financing at a
consolidation level. Though the subsidiary has not been able to
commence these operations, the Company is in the process of
strengthening infrastructure for this purpose. Hence the management is
confident of the success of these operations from the next financial
year.
5. Previous year figures have been accordingly re-grouped and
reclassified
Mar 31, 2014
1. Contingent Liabilities
Particulars 31st March, 2014 31st March, 2013
Rs. In Lacs Rs. In Lacs
Contingent Liability
a) Claims against the Company
not acknowledge as debt 1947.95 837.28
b) Guarantees -
* given for bank loans
taken by its subsidiaries 4502.99 3,184.35
* Others 275.45 180.47
Total 6726.39 4,202.10
The Company was subject to search u/s 132 of The Income Tax Act, 1961
in the month of March 2014. The Tax Department is in the process of
assessing the impact of the said search and has not raised any demand
on the company till date.
2. Segment Information ( Accounting Standard - 17)
The Company''s entire activity is of advanced packaging solutions. As
such there is only one segment viz; advanced packaging solutions,
accordingly, no disclosure is required to be made under AS 17, segment
reporting.
3. Leases (Accounting Standard - 19)
Operating Lease
The Company has leased facilities under non cancelable operating
leases. The future lease payments in respect of these leases as at 31st
March 2014 and 31st March 2013 are Minimum Lease payments 28.14
Previous year figures have been accordingly re-grouped and
reclassified.
Mar 31, 2013
1.01 Segment Information (Accounting Standard D17)
The Company''s entire activity is of advanced packaging solutions. As
such there is only one segment viz; advanced packaging solutions,
accordingly, no disclosure is required to be made underAS 17, segment
reporting.
1.02 Previous year figures have been accordingly re-grouped and
reclassified
Mar 31, 2012
1. Balance with scheduled banks include Rs. 818.61 Lacs (PY Rs. 860.19
Lacs ) representing margin money for letter of credit and bank
guarantees issued.
2. Section 205 of the companies Act 1956 mandates that companies
transfer dividend that has been unclaimed for period of seven years
from unpaid dividend account to the Investor Education and Protection
Fund (IEPF), Accordingly if dividend is unclaimed for a period of seven
years, it will be transferred to IEPF.
3.01 Contingent Liabilities
Particulars 31st March 12 31st March 11
Rs.in Lacs Rs.in Lacs
Contingent Liability
a) Claims against the Company not
acknowledged as debt - -
b) Guarantees given for bank loans
taken by its subsidiary
Flex Art Foil Private Limited. 2,640.00 2,640.00
c) Other money for which the Company
is contingent liable 456.49 430.23
Total 3,096.49 3,070.23
3.02 Suppliers/service providers covered under Micro, Small and Medium
Enterprises (MSME) Development Act, 2006 have been determined to the
extent such parties have been identified on the basis of information
available with the Company. The Disclosure relating to Micro and Small
Enterprises as at 31st March 2012 are as under.
3.03 Segment Information ( Accounting Standard 17)
The Company's entire activity is of advanced packaging solutions. As
such there is only one segment viz; advanced packaging solutions,
accordingly, no disclosure is required to be made under AS 17, segment
reporting.
3.04 As per the requirements of Revised Schedule VI, the Company has
re-classified its assets and liabilities into current and non-current
based on the normal operating cycle, determined by the management.
Previous year figures have been accordingly re-grouped and
reclassified.
Mar 31, 2011
1 Merger of erstwhile India Foils Limited (IFL)
The Hon'ble Board for Industrial and Financial Reconstruction (BIFR)
vide its order September 30, 2010 has sanctioned the Modified
Rehabilitation cum Merger Scheme (Scheme) for the revival of erstwhile
India Foils Limited (IFL), a subsidiary of Ess Dee Aluminium Limited
(EDAL). According to the Scheme, IFL with effect from April 1, 2008
stands merged into EDAL without any further act, instrument or deed and
without registration of any document. In accordance with the exchange
ratio approved in the Scheme of Merger the Company has on October 30,
2010 issued & allotted 25,59,046 fully paid equity shares of Rs. 10/-
each to the eligible share holders of erstwhile IFL.
2 Placement of Shares through QIP
During the current year, the Company made a Qualified Institutional
Placement, in accordance with Chapter VIII of the Securities and
Exchange Board of India (Issue of Capital and Disclosure Requirements)
Regulations, 2009, of 16,64,000 equity shares of Rs. 10/- each at a
premium of Rs. 507.03 per share to Qualified Institutional Buyers on
7th July, 2010.
3 Contingent Liabilities
a) The Company has given guarantee to the electricity supply
undertakings aggregating to Rs. 87.69 Lacs (PY 13.80 Lacs) which is
secured by fixed deposit under lien to the bankto the extent of Rs 7.95
Lacs. (PY 3.45 Lacs)
b) The Company is under obligation under the EPCG and Advance License
scheme to export Aluminium Foil and PVC film. The contingent liability
under the guarantee amounted to Rs 133.07 Lacs (PY 179.17 Lacs), which
is secured by fixed deposit under lien to the bankto the extent of Rs
116.97 Lacs. (PY 163.07 Lacs).
c) Guarantees given for a bank loan taken for its subsidiary Flex Art
Foil Private Limited to the extent of Rs 2,640.00 Lacs (PY 3,058.60
Lacs)
d) Demand from Kolkata Port Trust in respect of increased lease rental
amounting to Rs 186.18 Lacs (PY Rs. 186.18 Lacs) against the Company
not acknowledged as debt. The matter is subjudice and is pending before
the Appellate Authority for Industrial and Financial Reconstruction.
The Estate Officer appointed under the Public Premises (Eviction of
Unauthorized Occupants) Act, 1971 has served an order dated 10/12/2009
for eviction and auction of the Company's assets situated at Taratalla.
The Company has filed an appeal before the District Judge Alipore
Court, Kolkata challenging this order and is confident that the order
of the Estate Officer will be overturned.
e) The Company has issued a bank guarantee to the customs authorities
Kolkata Airport for a value of Rs. 23.29 Lacs (PY 23.29 Lacs) which is
fully secured by a fixed deposit under lien to the bank.
4. In the opinion of the Board, the Current Assets, Loans and Advances
have a value on realization in the ordinary course of business at least
equal to the amount at which they are stated.
5 Segment Reporting (Accounting Standard -17)
The Company's entire activity is of advanced packaging solutions. As
such there is only one segment viz; advanced packaging solutions,
accordingly, no disclosure is required to be made under AS 17, segment
reporting.
Additional information pursuant to paragraphs 3,4C and, 4D of part II
of Schedule VI to the Companies Act, 1956.
6 Information regarding capacity, stocks, production and sale (as
certified by Management)
i) Licensed Capacity: Not applicable
ii) Installed Capacity: Foil 37,000 Mtsp.a
PVC 4,200 Mtsp.a
(As certified by the management and being a technical matter accepted
by the auditors)
7. Previous year's figures have been regrouped / reclassified
wherever necessary.
Mar 31, 2010
1 Merger of India Foils Ltd
1.1 During the financial year 2008-09 along with Madras Aluminium Co.
Ltd, the Company had filed a rehabilitation scheme with the Honourable
Board for Industrial & Financial Reconstruction for rehabilitation of
erstwhile India Foils Ltd. (IFL). This scheme was sanctioned by the
Honble BIFR vide its order dated September 2, 2008. The first closing
as per the arrangement was achieved on November 19, 2008. Pursuant to
this order and the first closing, the Company acquired 14,70,00,000
equity shares of Rs.1/- each of IFL on November 19, 2008. This
constituted to 89.4% stake making IFL its subsidiary from that date.
The Company also subscribed to 12,50,000 Optionally Convertible Non
Cumulative Preference Shares, and 96,28,115 Non-Convertible Non
Cumulative Preference Shares of Rs.100/- each. .
1.2 Subsequent to IFL becoming a subsidiary, the Company estimated that
significant investments would be needed to rehabilitate IFL. This was
also necessitated by the then economic meltdown. Accordingly, the
Monitoring Agency, Kotak Bank Ltd., appointed by the BIFR, on its
instructions ,filed on 30th June 2009, a modified rehabilitation scheme
with the Honble BIFR interlia proposing merger of IFL with the Company
with effect from April 1, 2008.
1.3 The Honble Board for Industrial and Financial Reconstruction
(BIFR) vide its order September 30, 2010 has sanctioned the Modified
Rehabilitation à cum à Merger Scheme (Scheme) for the revival of IFL, a
subsidiary of Essdee Aluminium Ltd (EDAL). According to the Scheme IFL
with effect from April 1, 2008 stands merged into EDAL without any
further act, instrument or deed and without registration of any
document. The Board of Directors of EDAL had approved the audited
accounts for the financial year 2009-10 at the Board meeting held on
May 26, 2010. These accounts are reopened and reapproved in the meeting
of the Board of Directors held on 30th October 2010 to incorporate the
transactions on and from the appointed date i.e. 1st April 2008 as per
the order of BIFR dated 30th September 2010.
1.4 The amalgamation has been accounted for under the "Pooling of
Interest" method as prescribed by the accounting standard (AS 14)
issued by the Institute of Chartered Accountants of India. Accordingly,
the assets, liabilities and reserves of erstwhile India Foils Ltd as at
April 01, 2008 have been taken over at their book values. As stipulated
in the Scheme of merger all reserves of the transferor company have
been transferred to the General Reserve Accounts except for balance
lying in the " Profit and Loss Account" as on 31st March 2008 which has
been credited to the profit and loss account of the merged entity. The
revaluation reserve is retained as such.
1.5 In accordance with the exchange ratio approved in the Scheme of
Merger the Company has on October 30, 2010 issued & allotted 25,59,046
fully paid equity shares of Rs.10/- each in aggregate to the equity
shareholders and non convertible redeemable preference shareholder of
IFL. The equity shares allotted to non convertible redeemable
preference shareholder of IFL has been made at a premium of Rs 540 per
share .These shares rank for dividend, voting rights and in all
respects parri-passu with the existing equity shares of the Company.
Accordingly, the appropriation for the proposed dividend includes
dividend on the above shares.
1.6 The income accruing and expenses incurred by IFL during the period
April 1, 2008 to March 31, 2010 have also been incorporated in these
accounts. During the period between the appointed date and the
effective date, as IFL carried on the existing business in "trust" on
behalf of the Company, all vouchers, documents etc., for the period are
in the name of IFL. The title deeds for property - owned and leased,
licenses, agreements, loan documents and other assets are being
transferred in the name of the Company.
2 Contingent Liabilities
a) The Company has given guarantee to the electricity supply
undertakings aggregating to Rs. 13.80 Lacs (PY 13.80 Lacs) which is
secured by fixed deposit under lien to the bank to the extent of Rs
3.45 Lacs. (PY 3.45 Lacs)
b) The company has given guarantee to bankers for loan taken by
erstwhile IFL Rs. 7,400 Lacs (PY 4000)
c) The Company is under obligation under the EPCG and Advance License
scheme to export Aluminium Foil and PVC film. The contingent liability
under the guarantee amounted to Rs 179.17 Lacs (PY 258.77 Lacs), which
is secured by fixed deposit under lien to the bank to the extent of Rs
163.07 Lacs. (PY 258.77 Lacs).
d) Guarantees given for a bank loan to its subsidiary Flex Art Foil Pvt
Ltd to the extent of Rs 3,058.60 Lacs (PY 2,640 Lacs).
e) Demand from Kolkata Port Trust in respect of increased lease rental
amounting to Rs 186.18 lacs (P Y Rs.155.05 lacs) against the Company
not acknowledged as debt. The matter is subjudice and is pending before
the Appellate Authority for Industrial and Financial Reconstruction.
The Estate Officer appointed under the Public Premises (Eviction of
Unauthorized Occupants) Act, 1971 has served an order dated 10/ 12/2009
for eviction and auction of the Companys assets situated at Taratalla.
The Company has filed an appeal before the District Judge Alipore
Kolkata Court challenging this order and is confident that the order of
the Estate Officer will be overturned.
f) The Company has issued a bank guarantee to the customs authorities
Kolkata Airport for a value of Rs 23.29 Lacs (PY 23.29 Lacs) which is
fully secured by a fixed deposit under lien to the bank
3. In the opinion of the Board, the Current Assets, Loans and Advances
have a value on realization in the ordinary course of business at least
equal to the amount at which they are stated.
4 Segment Reporting (Accounting Standard à 17)
The Companys entire activity is of advanced packaging solutions. As
such there is only one segment viz; advanced packaging solutions,
accordingly, no disclosure is required to be made under AS 17, segment
reporting.
5 Related Party Disclosures (Accounting Standard 18)
5.1 List of Related Parties and Relationship with whom transactions
during the year 2009-10
A. Subsidiary à Flex Art Foil Private Limited
B. Key Management Personnel - Mr. Sudip Dutta, CMD
- Mr. Prasenjit Datta
- Mr. Rajib Mukhophadaya
- Mr. Soumitra Barari
C. Relatives of Key Management Personnel - Mrs. Aarti Dutta
D. Enterprises over which key management - M/s Parth International
personnel and their relatives are able - M/s Neat Pack to exercise
significant influence - Vyoma Investment & Finance Co. Pvt Ltd.
6. Previous years figures have been regrouped / reclassified
wherever necessary. The previous years figures are not comparable as
the same does not include the figures of merged entity erstwhile India
Foils Ltd.