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Notes to Accounts of Excel Castronics Ltd.

Mar 31, 2015

I CORPORATE INFORMATION :

Excel Castronics Limited (Earlier Known as Ahmedabad Gases Limited), Regd Off : Imperial Heights, B-301/302,150 Feet Ring Road, Opp. Big Bazar, Rajkot - 360005 is engaged in the business of Trading in Castor Seeds. The shares of the company are listed with The Stock Exchange, Bombay.

1. Previous year's figures have been regrouped and re-arranged wherever necessary to make them comparable with those of the current year.

2. All sundry debit and credit balances standing as debtors, creditors, holding company and other balances are subject to confirmation.

3. Figures in Paise are rounded off to the nearest rupee.

4. In the opinion of the Board, Current Assets, Loans and Advances are approximately of the value stated if, realised in the ordinary course of the business.

5. As informed to us, the Company, in absence of adequate information, has not determined amount payable to Small Scale Industries.

6. All sundry debit and credit balances and balances standing in sister concern's accounts are subject to confirmation.

7. Bank Balnaces are subject to confirmation.

8. Wherever when original bills / vouchers/ supportings were not available during the course of our audit we have relied upon the vouchers / bills as certified by the directors.

9. In Accordance with Accounting Standard (AS-28) on "Impairment of Asset" issued by the Institute of Chartered Accountants of India the company during the year carried out an exercise to assess the impairment loss of assets. Based on such exercise, there is no impairment of assets. Accordingly no adjustment in respect of loss/profit on impairment of assets is required to be made in the accounts.

10. In respect of Income tax liability the Company does not expect any further liability other than provided for in the accounts.

a) Company has not written off or written back any amount in respect of debts due from or to related parties.

b) Previous years figures have been mentioned in brackets.

c) Receipts and Payments include Opening Balance Outstanding in the respective accounts.








Mar 31, 2010

2009-10 2008-2009 Rs. Rs

1. C. I. F. value of Imports of Raw Materials, Components, -NIL- -NIL- Stores, Spares, Capital Goods etc

2. C.I.F. value of Imports of Raw Materials, Consumed -NIL- -NIL-

3. Remittance in Foreign Exchange on account of Dividend, -NIL- -NIL- Royalty etc.

4. Earning in Foreign Currency -NIL- -NIL-

5. As informed to us, the Company, in absence of adequate information, has not determined amount payable to Small Scale Industries.

6. RELATED PARTY DISCLOSURE :

Information about Related Parties as per Accounting Standard (AS-18)

(A) Companies / Firms controlled by Directors /their relatives :

1. Ahmedabad Cryogenic Product Limited

2. Earnest Industrial Gases Pvt. Ltd

3. Bhagat Enterprise

4. Gas Centre

5. Sethi Industrial Gases Pvt Ltd

(B) Key Management Personnel and Relatives :

1. Mr. Sumeet S. Sethi - Managing Director

2. Mrs. Yogita S. Sethi - Director

3. Mr. Jagdish A. AKhani - Director

Notes :

a) Company has not written off or written back any amount In respect of debts due from or to related parties.

b) Previous years figures have been mentioned in brackets.

c) Receipts and Payments include Opening Balance Outstanding in the respective accounts.

7. Previous years figures have been regrouped and re-arranged wherever necessary to make them comparable with those of the current year.

8. In the opinion of the Board, Current Assets, Loans and Advances are approximately of the value stated if realised in the ordinary course of the business,

9. In respect of Income tax liability the Company does not expect any further liability other than provided for in the accounts.

10. Figures in Paise have been are rounded off to the nearest rupee.

11. All sundry debit and credit balances and balances standing in sister concerns accounts are subject to confirmation.

12. Bank Balances are subject to confirmation.

13. Wherever when original bills / vouchers/ supportings were not available during the course of our audit we have relied upon the vouchers / bills as certified by the directors.

14. The Company has not appointed whole time Company Secretary as required U/s. 383A of the Companies Act, 1956.

15. In Accordance with Accounting Standard (AS-28) on "Impairment of Asset" issued by the Institute of Chartered Accountants of India the company during the year carried out an exercise to assess the impairment loss of assets Based on such exercise, there is no impairment of assets Accordingly no adjustment in respect of loss/profit on impairment of assets is required to be made in the accounts.

 
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