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Notes to Accounts of Fineotex Chemical Ltd.

Mar 31, 2016

iii. Pursuant to shareholders’ approval dated 28th May, 2015, the Equity Shares of Rs. 10/- each of the Company were sub-divided into 5 Equity Shares of Rs. 2/- per share w.e.f. 12th June, 2015 (Record date). Accordingly, the current year notes have been stated to this effect.

iv. The Company had allotted 1,12,29,811 fully paid-up equity shares of face value Rs. 10/- each during the year ended 31st March, 2015 pursuant to the bonus issue approved by the shareholders through postal ballot by capitalization of Securities Premium. Bonus equity shares were issued in proportion of 1:1 i.e. 1 (one) equity share of Rs. 10/- each fully paid up for every one share held.

v. The Company has only one type of equity share. Each equity share is entitled to one voting right only.

vi. In the event of liquidation of the Company, the holders of Equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all the preferential amounts. The distribution would be in proportion of the number of Equity shares held by the Equity Shareholders.

Note:

i. The Company has exercised the option under paragraph 46A(1) of Accounting Standard - 11 (Revised 2003) ''The Effect of Changes in Foreign Exchange rates'' as notified by Ministry of Company Affairs vide notification dated 29th December, 2011. Consequently the foreign exchange loss arising on reporting/settlement of long term foreign currency monetary items (other than relating to acquisition of depreciable fixed assets) amounting to Rs. NIL ( Rs. 3,03,441/-) for the year ended 31st March 2016 has been accumulated in "Foreign Currency Monetary Translation Difference Account", whereby the cumulative balance stands at Rs. NIL (Rs. 7,39,856/-). During the year an amount of Rs. 7,39,856/- (Rs 70,16,117/-) has been amortized.

ii. Pursuant to the enactment of Companies Act 2013, the company has applied the estimated useful lives as specified in Schedule II. Accordingly, the written down value of Fixed Assets whose lives have expired as at 1st April, 2014 have been adjusted net of tax, in the opening balance of Profit and Loss Account amounting to Rs. 1,55,586/-

v. All the investments have been valued at cost. (Refer Note 2 I of Significant Accounting Policies).

vi. The Company during the year under consideration has regrouped investments in Mutual Funds as non current investments and accordingly provision for diminution created in the previous year was on account of classification of the said investments as current investments.

vii. Investments in Mutual funds amounting to Rs. 5,58,59,445/- (Rs. 5,58,59,445/-) are under lien against bank overdraft facility availed by the company.

i. Defined Contribution Plan

Employer’s contribution to PF, ESIC and other funds

ii. Defined Benefit Plan

The Company has taken a policy under Group Gratuity Scheme with the Life Insurance Corporation of India (LIC). The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

1. Interim Dividend

The Company has paid an interim dividend of Rs. 0.20 per equity share (i.e. 10% of the face value) on 11,22,98,110 equity shares of face value of Rs. 2/- each on 29th March, 2016 vide Board Resolution dated 14th March, 2016.

2. Corporate Social Responsibility

The gross amount required to spent by the company during the year is Rs. 29,97,800/- (out of which Rs. 9,46,000/- pertains to previous year) as per the provisions of section 135 of the Companies Act, 2013. However, the Company has spent Rs. 22,00,000/- during the current year.

3. During the year under consideration, the Company has not given any loans to related parties u/s. 186 of the Companies Act, 2013. The Company has made investments in subsidiary which is reflected at Note no. 10

4. The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act could not be furnished.

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

6. In the opinion of board and to the best of their knowledge and belief, the value on realization of loans, advances and current assets in the ordinary course of business will not be less than the amount at which they are stated in the Balance sheet.

7. In the opinion of the board, provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

8. Previous year’s figures have been regrouped, rearranged and reclassified wherever necessary to conform with this year''s classification.


Mar 31, 2015

1 CORPORATE INFORMATION

Fineotex Chemical Limited (The Company) is a public limited Company domiciled in India and incorporated under the Companies Act, 1956. The Company was incorporated in 2004 and is listed on Bombay Stock Exchange and on the National Stock Exchange. The Company is engaged in the business of manufacturing and trading of Chemicals. The Company is one of the leading manufacturers of chemicals for textiles, construction, water-treatment, fertiliser, leather and paint industry.

2. The Company has exercised the option under paragraph 46A(1) of Accounting Standard - 11 (revised 2003) ''The effect of changes in Foreign Exchange rates'' as notified by Ministry of Company Affairs vide notification dated 29th December, 2011. Consequently the foreign exchange loss arising on reporting/settlement of long term foreign currency monetary items (other than relating to acquisition of depreciable fixed assets) amounting to Rs. 303,441/- (Rs.3,478,580) for the year ended 31st March 2015 has been accumulated in "Foreign Currency Monetary Translation Difference Account"whereby the cumulative balance stands at Rs. 7,755,973/- (Rs. 12,735,864/-). During the year an amount of Rs. 70,16,117/- (Rs 5,283,332/- ) has been amortized.

3. Pursuant to the enactment of Companies Act 2013, the company has applied the estimated useful lives as specified in Schedule II. Accordingly, the written down value of Fixed Assets whose lives have expired as at 1st April, 2014 have been adjusted net of tax, in the opening balance of Profit and Loss Account amounting to Rs. 155,586/- .

4. Term loan from bank is secured by way of exclusive first charge created by hypothecation of the total current assets including receivables (both present and future) of the Company. Fixed Deposits of the Company of Rs. 85,00,000/- have been marked as lien in favour of the Bank as a collateral security. Interest is charged at six months LIBOR plus 4.50% p.a. and is payable quarterly on the outstanding loan amount. The said loan is repayable during the financial year 2015-16 and accordingly it is regrouped under Other Current Liabilities as "Current Maturities of Long Term Debt"

Bank Overdraft is secured against Bank Fixed Deposits and pledge/lien of securities held by the Company and personal guarantee of directors.

i. Interest Free deposit towards rented premises paid to relative of director Rs.19,500,000/- (Rs.19,500,000/-)

ii. Deposit paid to a Group Companies Rs.129,00,000/- (Rs.5,000,000/-)

(i) Disclosures as defined in Accounting Standard 15 "Employee Benefits" are given below:

Defined Contribution Plan

Employer''s contribution to PF, ESIC and other funds Defined Benefit Plan

The Company has taken a policy under Group Gratuity Scheme with the Life Insurance Corporation of India (LIC). The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

5. Contingent Liabilities and Commitments

Contingent liabilities not provided for in respect of: (in Rs.)

Particulars March 31, 2015 March 31, 2014

i. (a) Claims against the Company not acknowledged as debts

Income Tax 214,820 -

(b) Guarantees given by bank 1,632,199 1,632,199

Future cash outflows in respect of above matters are determinable only on receipt of judgements/decisions pending at various forums/ authorities. The management does not expect these claims to succeed and accordingly, no provision for the contingent liability has been recognized in the financial statements.

ii. Premium amount to be paid to MIDC on account of transfer of leasehold land in the name of the Company, for which amount is not ascertainable.

iii. Commitments (in Rs.)

Particulars March 31, March 31, 2015 2014

Estimated amount of contracts remaining to be executed on capital account and not provided for (Net of Advances). 25,590,000 15,840,000

* The outstanding number of shares and the earnings per share of the previous year has been adjusted for the bonus issue, in accordance with Accounting Standard (AS) 20 - Earnings Per Share

6. Proposed Dividend

The Board has recommended a total dividend outflow of Rs. 1,12,29,811/- in the current financial year. The Board has recommended a substantial increase in the dividend outflow from Rs. 56,14,906/- in the previous financial year to Rs. 1,12,29,811/- in the current financial year. The dividend recommended on the increased capital after bonus issue is Rs. 0.50 per equity share having face value of Rs. 10/- each.

7. The shareholders of the Company have approved sub-division of one Equity Share having face value of Rs.10/- into five equity share of face value Rs.2/- each through postal ballot declared on 28th May, 2015.

8. Segment Reporting

The Company is primarily engaged in the business of manufacturing of textile chemicals, auxilliaries and specialty chemicals. These in the context of Accounting Standard 17 on Segment Reporting, are considered to constitute one single primary segment. There is no other secondary reportable segment.

9. Related Party Transactions

As per Accounting Standard 18, the disclosures of transactions with the related parties are given by way of an Aannexure I

10. During the year under consideration, the Company has not given any loans to related parties u/s. 186 of the Companies Act, 2013. The Company has made investments in subsidiary which is reflected at Note no. 11

11. The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act could not be furnished.

12. Balance of sundry debtors, creditors and loans and advances are subject to confirmation, reconciliation, if any.

13. In the opinion of board and to the best of their knowledge and belief, the value on realisation of loans, advances and current assets in the ordinary course of business will not be less than the amount at which they are stated in the Balance sheet.

14. In the opinion of the board, provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

15. Previous year''s figures have been regrouped, rearranged and reclassified wherever necessary.


Mar 31, 2014

CORPORATE INFORMATION

Fineotex Chemical Ltd. (The Company) is a public limited Company domiciled in India and incorporated under the Companies Act, 1956. The Company was incorporated in 2004 and is listed on Bombay Stock Exchange. The Company is engaged in the business of manufacturing and trading of Chemicals. The Company is one of the leading manufacturers of chemicals for textiles, construction, water-treatment, fertiliser, leather and paint industry. Its Company Identification Number is L24100MH2004PLC144295.

Note:

The Company has exercised the option under paragraph 46A(1) of Accounting Standard - 11 (revised 2003) ''The effect of changes in Foreign Exchange rates'' as notified by Ministry of Company Affairs vide notification dated 29th December, 2011. Consequently the foreign exchange loss arising on reporting/settlement of long term foreign currency monetary items (other than relating to acquisition of depreciable fixed assets) amounting to Rs. 127.36 lakhs ( Rs. 106.82 lakhs) for the year ended 31st March 2014 has been accumulated in "Foreign Currency Monetary Translation Difference Account", out of which Rs. 52.83 lakhs (Rs. 14.24 lakhs) has been amortized for the year ended 31st March, 2014. The outstanding balance as on 31st March 2014 in the "Foreign Currency Monetary Translation Difference Account" is Rs. 74.52 lakhs (92.57 lakhs).

Disclosures as defined in Accounting Standard 15 "Employee Benefits" are given below:

Defined Contribution Plan

Employer''s contribution to PF, ESIC and other funds

Defined Benefit Plan

The Company has taken a policy under Group Gratuity Scheme with the Life Insurance Corporation of India (LIC). The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

1. Contingent Liabilities and Commitments

i. Contingent liabilities not provided for in respect of: (in Rs.)

Particulars March 31, 2014 March 31, 2013

(a) Guarantees given by bank 1,632,199 1,189,083

(b) Claims against the Company not acknowledged as debts - 3,898,285

ii. Premium amount to be paid to MIDC on account of transfer of leasehold land in the name of the Company, for which amount is not ascertainable.

iii. Commitments (in Rs.)

Particulars March 31, 2014 March 31, 2013

Estimated amount of contracts remaining to be executed on capital account and not provided 15,840,000 15,840,000 for (Net of Advances).

2. Proposed Dividend

The Board of Directors of the Company in the meeting held on 30th May, 2014 has proposed a dividend of 5% on the Equity shares of Rs. 10/- each. The payment of the above proposed dividends are subject to the approval from the shareholders of the Company in the Annual General Meeting.

3. Segment Reporting

The Company is primarily engaged in the business of manufacturing of textile chemicals, auxilliaries and specialty chemicals. These in the context of Accounting Standard 17 on Segment Reporting, are considered to constitute one single primary segment. There is no other secondary reportable segment.

4. Related Party Transactions

As per Accounting Standard 18, the disclosures of transactions with the related parties are given by way of an annexure 1

5. Intial Public Offering (IPO)

During the year 2010-11, pursuant to the approval of the shareholders of the Company in an extra ordinary general meeting held on 26th August 2010, the Company has issued and alloted through Initial Public Offering (IPO) 4,211,211 equity shares of Rs.10/- each at a premium of Rs.60/- per share aggregating to total of Rs. 29.48 crores to all categories of investors. The issue was made in accordance with the terms of the Company''s prospectus dated 26th February 2011 and the shares got listed on 11th March 2011 on Bombay Stock Exchange Limited.

6. The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act could not be furnished.

7. The Ministry of Corporate Affairs, Government of India, vide General Circular No. 2 and 3 dated 8th February 2011 and 21st February 2011 respectively has granted a general exemption from compliance with section 212 of the Companies Act, 1956, subject to fulfillment of conditions stipulated in the circular. The Company has satisfied the conditions stipulated in the circular and hence is entitled to the exemption. Necessary information relating to the subsidiaries has been included in the Consolidated Financial Statements. Annexure 2

8. Balance of sundry debtors, creditors and loans and advances are subject to confirmation, reconciliation, if any.

9. In the opinion of board and to the best of their knowledge and belief, the value on realisation of loans, advances and current assets in the ordinary course of business will not be less than the amount at which they are stated in the Balance sheet.

10. In the opinion of the board, provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

11. Previous year''s figures have been regrouped, rearranged and reclassified wherever necessary.


Mar 31, 2013

1 CORPORATE INFORMATION

Fineotex Chemical Ltd. (The Company) is a public limited Company domiciled in India and incorporated under the Companies Act, 1956. The Company was incorporated in 2004 and is listed on Bombay Stock Exchange. The Company is engaged in the business of manufacturing and trading of Chemicals. The Company is one of the leading manufacturers of chemicals for textiles, construction, water-treatment, fertiliser, leather and paint industry.

2 Proposed Dividend

The Board of Directors of the Company in the meeting held on 15th May, 2013 has proposed a dividend of 5% on the Equity shares of Rs. 10/- each. The payment of the above proposed dividends are subject to the approval from the shareholders of the Company in the Annual General Meeting.

3 Segment Reporting

The Company is primarily engaged in the business of manufacturing of textile chemicals, auxilliaries and specialty chemicals. These in the context of Accounting Standard 17 on Segment Reporting, are considered to constitute one single primary segment. There is no other secondary reportable segment.

4 Intial Public Offering (IPO)

During the year 2010-11, pursuant to the approval of the shareholders of the Company in an extra ordinary general meeting held on 26th August 2010, the Company has issued and alloted through initial public offering (IPO) 4,211,211 equity shares of Rs.10/- each at a premium of Rs.60/- per share aggregating to total of Rs. 29.48 crores to all categories of investors. The issue was made in accordance with the terms of the Company''s prospectus dated 26th February 2011 and the shares got listed on 11th March 2011 on Bombay Stock Exchange Ltd.

In accordance with the "objects of issue" as stated in the prospectus of the Company, the status of utilisation upto 31st March 2013 of the amount raised through the said intial public offer is as follows:

5 The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act could not be furnished.

6 The Ministry of Corporate Affairs, Government of India, vide General Circular No. 2 and 3 dated 8th February 2011 and 21st February 2011 respectively has granted a general exemption from compliance with section 212 of the Companies Act, 1956, subject to fulfillment of conditions stipulated in the circular. The Company has satisfied the conditions stipulated in the circular and hence is entitled to the exemption. Necessary information relating to the subsidiaries has been included in the Consolidated Financial Statements.

7 Balance of sundry debtors, creditors and loans and advances are subject to confirmation, reconciliation, if any.

8 In the opinion of board and to the best of their knowledge and belief, the value on realisation of loans, advances and current assets in the ordinary course of business will not be less than the amount at which they are stated in the Balance sheet.

9 In the opinion of the board, provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

10 Previous year''s figures have been regrouped, rearranged and reclassified wherever necessary.


Mar 31, 2012

1 CORPORATE INFORMATION

Fineotex Chemical Ltd. (The Company) is a public limited Company domiciled in India and incorporated under the Companies Act, 1956. The Company was incorporated in 2004 and is listed on Bombay Stock Exchange. The Company is engaged in the business of manufacturing and trading of Chemicals. The Comapny is one of the leading manufacturers of chemicals for textiles, construction, water-treatment, fertiliser, leather and paint industry.

i) Aggregate number of shares alloted as fully paid up bonus shares during the the period of five years immediately preceding the reporting date

- 3,324,600 Equity shares of Rs.10/- each fully paid issued as bonus shares in the Financial Year 2007-2008 by capitalisation of Securities Premium Account.

ii) Aggregate number of shares issued as fully paid up for consideration other than cash during the the period of five years immediately preceding the reporting date

- 3,000,000 Equity shares of Rs. 10/- each fully paid issued for consideration other than cash to vendor in pursuant to the acquisition of business in Financial Year 2007-2008.

iii) The Company has only one type of equity share. Each equity share is entitled to one voting right only.

iv) In the event of liquidation of the Company, the holders of Equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all the preferential amounts. The distribution would be in proportion of the number of Equity shares held by the Equity Shareholders.

Note : The Company has opted to follow Notification dated 29th December, 2011 issued by MCA (Ministry of Corporate Affairs) to the long term foreign currency monetary items. Accordingly the foreign exchange loss amortised upto the current date works to Rs.27.85 lakhs. The unamortised portion carried forward in the "Foreign Currency Monetary Item Translation Reserve" as on 31st March, 2012 is Rs. 71.37 lakhs.

Note:

i. Term loan from bank is secured by way of exclusive first charge created by hypothecation of the total current assets including receivables (both present and future) of the Company. Fixed Deposits of the Company of Rs. 8 Crores have been marked as lien in favour of the Bank as a collateral security. Interest is charged at six months LIBOR plus 4.50 % p.a. is payable quarterly on the outstanding loan amount.

Defined Contribution Plan:

Employer''s contribution to PF, ESIC and other funds Defined Benefit Plan:

The Company has taken a policy under Group Gratuity Scheme with the Life Insurance Corporation of India (LIC). The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

1 Contingent Liabilities and Commitments

i. Contingent liabilities not provided for in respect of:

Particulars 2011-2012 2010-2011

(a) Guarantees given by bank 369,000 749,000

(b) Claims against the Company not acknowledged as debts 3,898,285 3,898,285

ii. Premium amount to be paid to MIDC on account of transfer of leasehold land in the name of the Company, for which amount is not ascertainable.

iii. Commitments

2 Proposed Dividend

The Board of Directors of the Company in the meeting held on 24th November, 2012 has proposed a dividend of 5% on the Equity shares of Rs. 10/- each. The payment of the above proposed dividends are subject to the approval from the shareholders of the Company in the Annual General Meeting.

3 Segment reporting

The Company is primarily engaged in the business of manufacturing of textile chemicals, auxilliaries and specialty chemicals. These in the context of Accounting Standard 17 on Segment Reporting, are considered to constitute one single primary segment. There is no other secondary reportable segment.

4 Intial Public Offering (IPO)

During the year 2010-11, pursuant to the approval of the shareholders of the Company in an extra ordinary general meeting held on 26th August 2010, the Company has issued and alloted through initial public offering (IPO) 4,211,211 equity shares of Rs.10/- each at a premium of Rs.60/- per share aggregating to total of Rs. 29.48 crores to all categories of investors. The issue was made in accordance with the terms of the Company''s prospectus dated 26th February 2011 and the shares got listed on 11th March 2011 on Bombay Stock Exchange Ltd.

In accordance with the "objects of issue" as stated in the prospectus of the Company, the status of utilisation upto 31st March 2012 of the amount raised through the said intial public offer is as follows:

5 The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act could not be furnished.

6 The Ministry of Corporate Affairs, Government of India, vide General Circular No. 2 and 3 dated 8th February 2011 and 21st February 2011 respectively has granted a general exemption from compliance with section 212 of the Companies Act, 1956, subject to fulfillment of conditions stipulated in the circular. The Company has satisfied the conditions stipulated in the circular and hence is entitled to the exemption. Necessary information relating to the subsidiaries has been included in the Consolidated Financial Statements.

7 Balance of sundry debtors, creditors and loans and advances are subject to confirmation, reconciliation, if any.

8 In the opinion of board and to the best of their knowledge and belief, the value on realisation of loans, advances and current assets in the ordinary course of business will not be less than the amount at which they are stated in the Balance sheet.

9 In the opinion of the board, provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

10 Previous year''s figures have been regrouped, rearranged and reclassified wherever necessary.


Mar 31, 2011

A) Estimated amount of contracts remaining to be executed on capital account and not provided for net of advances Rs. 7,77,584/- (NIL).

B) Contingent liabilities:

Contingent liabilities not provided for in respect of:

Particulars 2010-2011 2009-2010

(a) Guarantees given by bank 2249000 474000

(b)Claims against the Company not acknowledged as debts 3898285 4004940

Premium amount to be paid to MIDC on account of transfer of leasehold land in the name of the Company, for which amount is not ascertainable.

C) Balance of sundry debtors, creditors and loans and advances are subject to confirmation, reconciliation, if.any.

D) In the opinion of board the value on realisation of loans, advances and current assets in the ordinary course of business will not be less than the amount at which they are stated in the balance sheet.

E) In the opinion of the Board, provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

G. Segment reporting:

The Company is primarily engaged in the business of manufacturing of textile chemicals, auxiliaries and specialty chemicals. These in the context of Accounting Standard 17 on Segment Reporting, are considered to constitute one single primary segment. There is no other secondary reportable segment.

H. Related party transactions:

A Key Management Personnel:

1 SurendrakumarTibrewala

2 Sanjay Tibrewala

B Relatives of Key Management Personnel:

1 Mrs. Kanaklata Surendra Kumar Tibrewala

2 Ms. Ritu Surendra Kumar Tibrewala

C Enterprise under significant influence of Key Management Personnel or their relatives:

1 Sanjay Exports

2 Proton Biochem Private Limited

Disclosures in respect of transactions with the above related parties in accordance with Accounting Standard 18 as notified by the companies (Accounting Standard) Rules, 2006 is separately enclosed as an annexure to the notes to accounts.

I. Liability for employee benefit has been determined by an actuary, appointed for the purpose, in conformity with the principles set out in the Accounting Standard-15 (Revised) the details of which are as hereunder:

Defined contribution plan:

Employer''s contribution to PF, ESIC and other funds

Defined benefit plan:

The Company has taken a policy under Group Gratuity Scheme with the Life Insurance Corporation of India (LIC). The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

3 Previous year''s figures have been regrouped, rearranged and reclassified wherever necessary.

4 Figures in brackets relate (o) the previous year

5 The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any. relating to amounts unpaid as at the year end together with interest paid / payable as required under the said Act could not be furnished.

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