Mar 31, 2015
1. Term loan are secured by
a) Term loan from State Bank of India secured by way of First Mortgage
/ Charge on Immovable Properties & all Plant & machinery of the company
situated at C/91 & N/66 MIDC Tarapur Boisar Dist Thane-401506.
b) Term loan from State Bank of Indore secured by way of First Mortgage
/ Charge on Immovable Properties & all Plant & machinery situated at
C/91 & N/66 MIDC Tarapur Boisar Dist Thane-401506. of the Company
having Pari-passu Charge with State Bank of India.
c) Term Loans from State Bank of India & State Bank of Indore are
personally guaranteed by Mr. Rinku Patodia - Managing Director and Mrs.
Anita Patodia - Director of the Company.
d) The Company defaulted in paying the Term Loan installments and
interest due to State Bank of India and State Bank of Indore, therefore
the account become Non Performing Assets in the books of both the bank.
e) The Term loan amount include the provision for Interest payable at
the end of year.
2. Working Capital Loans are secured by hypothecation of present and
future stock of Raw Materials Stock-in-process Finished Goods Stores
and Spares (not relating to plant & machinery) Book Debts Outstanding
monies Claims Receivables bills material in transit etc.
3. Working Capital Loans from State Bank of India is personally
guaranteed by Mr. Rinku Patodia - Managing Director and Mrs. Anita
Patodia - Director of the Company.
4. The Company defaulted in respect of Interest Payable on working
capital loan to the State Bank of India, therefore the working capital
loans account become Non Performing Assets, in the books of the Bank.
5. Discloser pursuant to Accounting Standard (AS) 15 (Revised)
Employee Benefits Short term employee benefits The short term employee
benefits payable wholly within twelve months of rendering service are
classified as short term employee benefits. This benefits include
compensated absence such as paid annual leave and sickness leave.
The undisclosed amount of short term employee benefits expected to be
paid in exchange for the services rendered by employees recognized as
an expense during the period.
Long Term Employee Benefits
The Company deposits the Provident fund liabilities regularly, as per
the Provident Fund Act. The Company accounts the Gratuity on actual
basis. No provision is made for outstanding Gratuity liability.
6. Segment Information:
The Company is considered to be a single segment company, engaged in
business of Trading in Fabrics & Job Job work of weaving of fabrics.
Consequently, the Company has in its primary segment only one
reportable business segment. As per Accounting Standard - 17 "Segment
Reporting", if a Company is having single Segment the financial
statement needed be presented only on the basis of financial
statements. Accordingly, the information required to be presented under
AS 17 "Segment Reporting" has been given in financial statements.
7. The adoption of the Revised Schedule-VI does not impact
recognition and measurement principles followed for preparation of
Financial Statements and has no significant impact on the disclosures
made in the Financial statement.
8. Further the Board confirms that all transactions in which
supporting evidence are missing are genuinely occurred for the
business. No personal expenses of the directors are debited to any
accounts.
9. Previous Year Regrouping
Previous year's figures have been regrouped / restated wherever
necessary to confirm to current years' Classification as per the
Companies Act, 2013.
Mar 31, 2014
1. Term loan are secured by
a) Term loan from State Bank of India secured by way of First Mortgage
/ Charge on Immovable Properties & all Plant & machinery ofthe company
situated at C/91 & N/66 MIDC Tarapur Boisar Dist Thane-401506.
b) Term loan from State Bank of Indore secured by way of First Mortgage
/ Charge on Immovable Properties & all Plant & machinery situated at
C/91 & N/66 MIDC Tarapur Boisar Dist Thane-401506, ofthe Company having
Pari-passu Charge with State Bank of India.
c) Term Loans from State Bank of India & State Bank of Indore are
personally guaranteed by Mr. Rinku Patodia - Managing Director and Mrs.
Anita Patodia - Director ofthe Company.
d) The Company defaulted in paying the Term Loan installments and
interest due to State Bank of India and State Bank of Indore, therefore
the account become Non Performing Assets in the books of both the bank.
e) The Term loan amount include the provision for Interest payable at
the end of year.
2. Working Capital Loans are secured by hypothecation of present and
future stock of Raw Materials Stock-in-process Finished Goods Stores
and Spares (not relating to plant & machinery) Book Debts Outstanding
monies Claims Receivables bills material in transit etc.
3. Working Capital Loans from State Bank of India is personally
guaranteed by Mr. Rinku Patodia - Managing Director and Mrs. Anita
Patodia - Director ofthe Company.
4. The Company defaulted in respect of Interest Payable on working
capital loan to the State Bank of India, therefore the working capital
loans account become Non Performing Assets, in the books ofthe Bank.
5. The details of amount outstanding to Micro, Small and Medium
Enterprises, based on avilable information with the Company. There is
no default reported by the Company.
6. Discloser pursuant to Accounting Standard (AS) 15 (Revised)
Employee Benefits Short term employee benefits
The short term employee benefits payable wholly within twelve months of
rendering service are classified as short term employee benefits. This
benefits include compensated absence such as paid annual leave and
sickness leave.
The undisclosed amount of short term employee benefits expected to be
paid in exchange for the services rendered by employees recognized as
an expense during the period.
Long Term Employee Benefits
The Company deposits the Provident fund liabilities regularly, as per
the Provident Fund Act. The Company accounts the Gratuity on actual
basis. No provision is made for outstanding Gratuity liability.
7. Segment Information:
The Company is considered to be a single segment company, engaged in
business of Trading in Fabrics & Job Job work of weaving of fabrics.
Consequently, the Company has in its primary segment only one
reportable business segment. As per Accounting Standard -17 "Segment
Reporting", if a Company is having single Segment the financial
statement needed be presented only on the basis of financial
statements. Accordingly, the information required to be presented under
AS 17 "Segment Reporting" has been given in financial statements
8. Contingent Liabilities
[Rupees in Lakhs]
Particulars 31/03/2014 31/03/2013
a) Bank Guarantees 124.54 124.54
b) Corporate Guarantees given to
bankers on behalf on subsidiary company:
Ramshyam Textile lndustries Ltd . 7,301.09 6,360.95
First Winner Lifestyle Pvt. Ltd. 4707.80 3,354.43
9. The adoption of the Revised Schedule-VI does not impact
recognition and measurement principles followed for preparation of
Financial Statements and has no significant impact on the disclosures
made in the Financial statement.
All Assets and Liabilities have been classified as Current or
Non-Current as per the Company''s normal operating cycles and other
criteria set out in the Revised Schedule - VI to the Companies Act
1956, which is applicable from the previous year ended 31st March 2014
10. Further the Board confirms that all transactions in which
supporting evidence are missing are genuinely occurred for the
business. No personal expenses ofthe directors are debited to any
accounts.
11. Previous Year Regrouping
Previous year''s figures have been regrouped / restated wherever
necessary to confirm to current years'' Classification as per the
Revised Schedule-VI notified under The Companies Act, 1956which is
applicable from the Current Year.
Mar 31, 2013
1.1 Discloser pursuant to Accounting Standard (AS) 15 (Revised)
Employee Benefts
Short term employee benefts
The short term employee benefts payable wholly within twelve months of
rendering service are classifed as short term employee benefts. This
benefts include compensated absence such as paid annual leave and
sickness leave.
The undisclosed amount of short term employee benefts expected to be
paid in exchange for the services rendered by employees recognized as
an expense during the period.
Long Term Employee Benefts
The Company deposits the Provident fund liabilities regularly, as per
the Provident Fund Act. The Company accounts the Gratuity on actual
basis. No provision is made for outstanding Gratuity liability.
1.2 Segment Information:
The Company is considered to be a single segment company, engaged in
business of Trading in Fabrics & Job Job work of weaving of fabrics.
Consequently, the Company has in its primary segment only one
reportable business segment. As per Accounting Standard - 17 "Segment
Reporting", if a Company is having single Segment the fnancial
statement needed be presented only on the basis of fnancial statements.
Accordingly, the information required to be presented under AS 17
"Segment Reporting" has been given in fnancial statements
1.3 Contingent Liabilities [Rupees in Lakhs]
Particulars 3/31/2013 3/31/2012 3/31/2011
a) Bank Guarantees 124.54 124.54 118.71
b) Corporate Guarantees given to
bankers on behalf on subsidiary
company:
Ramshyam Textile Industries Ltd. 6,360.95 5,190.47 1,836.00
First Winner Lifestyle Pvt. Ltd. 3,354.43 3,487.43 4,689.00
1.4 The adoption of the Revised Schedule-VI does not impact
recognition and measurement principles followed for preparation of
Financial Statements and has no signifcant impact on the disclosures
made in the Financial statement.
All Assets and Liabilities have been classifed as Current or
Non-Current as per the Company''s normal operating cycles and other
criteria set out in the Revised Schedule - VI to the Companies Act
1956, which is applicable from the previous year ended 31st March 2012.
1.5 Further the Board confrms that all transactions in which
supporting evidence are missing are genuinely occurred for the
business. No personal expenses of the directors are debited to any
accounts.
1.6 Previous Year Regrouping
Previous year''s fgures have been regrouped / restated wherever
necessary to confrm to current years'' Classifcation as per the Revised
Schedule-VI notifed under The Companies Act, 1956 which is applicable
from the Current year.
Mar 31, 2012
1.01 Term loan are secured by
a Term loan from State Bank of India secured by way of First Mortgage /
Charge on Immovable Properties & all Plant & machinery of the company
situated at C-9/1 & N/66 MIDC Tara pur Boisar Dist Thane-401506.
b Term loan from State Bank of Indore secured by way of First Mortgage
/ Charge on Immovable Properties & all Plant & machinery situated at
C-9/1 MIDC Tarapur Boisar Dist Thane-401506, of the Company having
Pari-passu Charge with State Bank of India.
c Term loan - Car from Kotak Mahindra Prime Ltd secured by way of
hypothecation /Charge on Motor Vehicle.
d Term Loans from State Bank of India & State Bank of Indore are
personally guaranteed by Mr. Rinku Patodia - Managing Director and Mrs.
Anita Patodia - Director of the Company.
2.01 Working Capital Loans are secured by hypothecation of present and
future stock of Raw Materials Stock-in-process Finished Goods Stores
and Spares (not relating to plant & machinery) Book Debts Outstanding
monies Claims Receivables bills material in transit etc.
2.02 Working Capital Loans from State Bank of India and State Bank of
Indore are personally guaranteed by Mr. Rinku Patodia - Managing
Director and Mrs. Anita Patodia - Director of the Company.
2.03 There was no default reported in repayment and/or Interest on due
date, for Working Capital Credit facility.
3.01 The details of amount outstanding to Micro Small and Medium
Enterprises is based on available information with the Company.
3.02 Balance with bank include the Unclaimed dividend of Rs. 0/=
(Previous year Rs. 0/= )
3.03 Fixed Deposit with Banks include deposit of Rs. 4720000/=
(Previous year Rs.4500000/=) with maturity less than 12 months)
17.00 SHORT TERM LOANS AND ADVANCES
(Unsecured and Considered Good)
(Loans and Advances of nature having maturity less than 12 Month)
4.01 Discloser pursuant to Accounting Standard (AS) 15 (Revised)
Employee Benefits Short term employee benefits
The short term employee benefits payable wholly within twelve months of
rendering service are classified as short term employee benefits. This
benefits include compensated absence such as paid annual leave and
sickness leave.
The undisclosed amount of short term employee benefits expected to be
paid in exchange for the services rendered by employees recognized as
an expense during the period.
Long Term Employee Benefits
The Company deposits the Provident fund liabilities regularly, as per
the Provident Fund Act. The Company accounts the Gratuity on actual
basis. No provision is made for outstanding Gratuity liability.
4.02 Segment Information:
The Company is considered to be a single segment company, engaged in
business of Trading in Fabrics & Job work of weaving of fabrics.
Consequently, the Company has in its primary segment only one
reportable business segment. As per Accounting Standard - 17 ÃSegment
ReportingÃ, if a Company is having single Segment the financial
statement needed be presented only on the basis of financial
statements. Accordingly, the information required to be presented under
AS 17 ÃSegment Reportingà has been given in financial statements.
4.03 Contingent Liabilities
- [Rupees in Lakhs] -
Particulars 31/03/2012 31/03/2011 31/03/2010
a) Bank Guarantees 124.54 118.71 39.00
b) Corporate Guarantees
given to bankers on
behalf on
subsidiary company:
Ramshyam Textile Industries Ltd. 5,190.47 1,836.00 1,088.00
First Winner Lifestyle Pvt. Ltd. 3,487.43 4,689.00 4,486.00
4.04 The adoption of the Revised Schedule-VI does not impact
recognition and measurement principles followed for preparation of
Financial Statements and has no significant impact on the disclosures
made in the Financial statement.
All Assets and Liabilities have been classified as Current or
Non-Current as per the Company's normal operating cycies and other
criteria set out in the Revised Schedule - V! to the Companies Act
1956, which is applicable from the Current year ended 31st March 2012.
4.05 Further the Board confirms that all transactions in which
supporting evidence are missing are genuinely occurred for the
business. No personal expenses of the directors are debited to any
accounts.
4.06 Previous Year Regrouping
Previous year figures have been regrouped / restated wherever
necessary to confirm to current years' Classification as per the
Revised Schedule-VI notified under The Companies Act, 1956 which is
applicable from the Current year.
Mar 31, 2011
I. Impairment of Assets
The company assesses at each balance sheet date whether there is any
indication that an assets may be impaired. If any such indication
exists, the company estimates the recoverable amount of the assets. If
such recoverable amount of the assets or the recoverable amount of the
cash generating unit to which the asset belong is less than its
carrying amount, the carrying amount is reduced to its recoverable
amount. If at the balance sheet date there is an indication that if a
previously assessed impairment loss no longer exists, the recoverable
amount is reassessed and the asset is refected at the recoverable
amount subject to a maximum of depreciated historical cost.
1. The previous year's figure have been reworked, regrouped,
rearranged and reclassified wherever necessary.
2. In the opinion of the Board, sundry debtors, loans and advances and
other current assets and unsecured loans are approximately of the value
stated if realized in the ordinary course of business. The provisions
for all known liabilities is adequate and not in excess of the amount
reasonably necessary. These balances are subject to confirmation and
reconciliation.
3. In pursuance of Accounting Standard on Impairment on Assets (AS 28)
issued by ICAI, the company had identified and reviewed such assets.
Based on such identification and review, there was no impairment /
reversal during the year to be recognized.
4. Contingent Liabilities [ Rs. In lacs ]
Particulars 31.03.2011 31.03.2010
Bank Guarantees 118.71 39.00
Corporate Guarantee given to bankers on
behalf on subsidiary company:
Ramshyam Textile Industries Ltd. 1,836.00 1,088.00
First Winner Lifestyle Pvt. Ltd. 4,689.00 4,486.00
Total 6,643.71 5,613.00
5. Segment Reporting
The company operates in single segment of Textile and Textile Products,
hence segmental reporting as required under accounting standard 17
issued by ICAI is not applicable.
6. As at the Balance Sheet date, the Company did not have any dues
outstanding to small scale industrial undertakings exceeding Rs. 1 lakh
in aggregate for a period of 30 days.
7. Foreign Currency Transactions :
The company has incurred foreign currency USD 32,81,000, EURO 15,33,500
i.e. Rs.24,65,79,175/- on capital expenditure & Advances for capital
Expenditure during the year.
8. Financial statement has been audited by us is on the basis of
Original / Xerox copies of supporting evidence. Further the Board
confirms that all transactions in which supporting evidence are missing
are genuinely occurred for the business.
Mar 31, 2010
1. The previous years figure have been reworked, regrouped, rearranged
and reclassifed wherever necessary.
2. In the opinion of the Board, sundry debtors, loans and advances and
other current assets and unsecured loans are approximately of the value
stated if realized in the ordinary course of business. The provisions
for all known liabilities is adequate and not in excess of the amount
reasonably necessary. These balances are subject to confrmation and
reconciliation.
3. In pursuance of Accounting Standard on Impairment on Assets (AS 28)
issued by ICAI, the company had identifed and reviewed such assets.
Based on such identifcation and review, there was no impairment /
reversal during the year to be recognized.
4. Contingent Liabilities [ Rs. In lacs ]
particulars 31.03.2010 31.03.2009
Bank Guarantees 39.00 74.75
Corporate Guarantee given to
bankers on behalf on
subsidiary company:
Ramshyam Textile Industries Ltd. 1,088.00 1,251.00
First Winner Lifestyle Pvt. Ltd. 4,486.00 4,372.00
Total 5,613.00 5,697.75
5. Segment Reporting
The company operates in single segment of Textile and Textile Products,
hence segmental reporting as required under accounting standard 17
issued by ICAI is not applicable.
6. None of the employees are entitled for the gratuity benefts during
the reported period, no employee is in continues service of 5 years.
7. None of the employees are entitled for the gratuity benefts during
the reported period, no employee is in continues service of 5 years.
8. As at the Balance Sheet date, the Company did not have any dues
outstanding to small scale industrial undertakings exceeding Rs. 1 lakh
in aggregate for a period of 30 days.
9. foreign Currency transactions :
The company has not incurred foreign currency on capital expenditure
during the year.
10. Financial statement has been audited by us is on the basis of
Original / Xerox copies of supporting evidence. Further the Board
confrms that all transactions in which supporting evidence are missing
are genuinely occurred for the business.
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