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Notes to Accounts of G R Cables Ltd.

Mar 31, 2015

1) In view of different range of power and conductor cables of different sizes, quantitative information could not be furnished in respect of power cables.

2) The Installed Capacities are as certified by the Management and not verified by the Auditors, being a technical matter.

3) Sales are being shown in composite price, which includes Excise Duty, Sales Tax, Insurance and Transportation charges.

4) Additional information pursuant to the provisions of Paragraph 3,4C and 4D of part II, Schedule III, of Companies Act, 2013.

5) Confirmation of balances has not been received in respect of Secured loans, Sundry Creditors, Sundry Debtors, Loans & Advances and margin money. These accounts are subject to reconciliation and adjustments, if any

6) Sundry creditors include outstanding dues to Micro, Small and Medium Undertakings, to the extent possible ascertained and identified from the available information, is Nil and Previous Year: NIL.

7) Related Party Disclosure:

Key personnel - Sri G.V.B.R. Reddy, No remuneration was paid during the year

Noven Life Sciences Pvt. Ltd had opening credit balance of Rs, 27.09 Lakhs. No Transactions during the year. Closing balance was Rs, 27.09 Lakhs.

8) Deferred Tax:

Due to large accumulated lossess no deferred tax asset/liability was identified during the year as per AS-22 Deferred Tax Asset / Liability for the current year is recognized, due to large accumulated losses and very low level of operations during the year as per AS-22 .

9) Previous year's figures have been regrouped wherever necessary to conform to current year's classification.

10) Unsecured loans other include remuneration payable pertaining to previous year of Rs, 30.99 lacs.

11) Paise rounded off to nearest Rupee.

12) Schedules 1 to 18 form an integral part of the Balance Sheet and Profit and Loss Account.


Mar 31, 2013

1) CONTINGENT LIABILITIES:

i) Guarantees issued

ii) Demand from customers consequent to reduction in Customs Duty 23.23 23.23

2) Sales are being shown in composte price, which includes Excise Duty, Sales Tax, Insurance and Transportation charges.

3) Additional information pursuant to the provisions of Paragraph 3,4C and 4D of part II, Schedule VI, of Companies Act, 1956.

(a) Capacity and Production:

4) Confirmation of balances has not been received in respect of Secured loans, Sundry Creditors, Sundry Debtors, Loans & Advances and margn money. These accounts are subject to reconciliation and adjustments, if any.

5) Sundry creditors include outstanding dues toMicro,Smalland Medium Undertakings, to the extent possible ascertained and identified from the available information, is Nil and Previous Year NIL.

6) Related Party Disclosure:

Key personnel - Sri G.V.B.R. Reddy, No remuneration was paid during the year.

Noven Life Sciences Pvt. Ltd had opening credit balance of Rs. 24.99 Lakhs. Transactions during the year was2.10 lakhs. Closing balance was Rs.27.09 Lakhs.

7) Deferred Tax

Due to large accumulated lossess no deferred tax asset/liabilily was identified during the year as per AS-22 Deferred Tax Asset / Liaability for the current year is recognized, due to large accumulated losses and very low level of operations during the year as per AS-22

8) All products are wires and cables, Hence no segment wise results are reported As perA.S-17.

9) Un secured loansinclude: Deferred sale tax loan of Rs. 8.52 Crores and Directors remuneration payable partaining to previous years of Rs.30.99 lacs and Loans and advances from Directors amounting to Rs.27.79 lacs.

10) Previous year''s figures have been regrouped wherever necessary to conform to current year''s classification.

11) Paise rounded off to nearest Rupee.

12) Schedules 1 to 18 form an integral part of the Balance Sheet and Profit and Loss Account.


Mar 31, 2011

1) CONTINGENT LIABILITIES:

As at As at 31.03.2011 30.09.2010 Rs. in Lakhs Rs. in Lakhs

In respect of

i) Guarantees issued - 15.82

ii) Demand from customers 23.23 23.23 consequent to reduction in Customs Duty

2) Sales are being shown in composite price, which includes Excise Duty, Sales Tax, Insurance and Transportation charges.

3) Additional information pursuant to the provisions of Paragraph 3, 4C and 4D of part II, Schedule VI, of Companies Act, 1956.

Note: 1) In view of different range of power and conductor cables of different sizes, quantitative information could not be furnished in respect of power cables.

2) The Installed Capacities are as certified by the Management and not verified by the Auditors, being a technical matter.

4) During the year an amount of Rs. 159.99 lacs comprising of Rs.46.88 lacs in rawmaterial, Rs. 36.23 lacs in stock in progress Rs. 76.88 lacs in finished goods and Rs. 18.06 lacs in scrap were identified as depletion / obsolete and written off in the Profit and loss account

5) Confirmation of balances has not been received in respect of Secured loans, Sundry Creditors, Sundry Debtors, Loans & Advances and margin money. These accounts are subject to reconciliation and adjustments, if any.

6) Sundry creditors include outstanding dues to Micro.Small and Medium Undertakings, to the extent possible ascertained and identified from the available information, is Nil and Previous Year: NIL.

7) Related Party Disclosure:

Key personnel - Sri G.R.Reddy & Sri G.V.B.R. Reddy, No remuneration was paid during the year.

8) Deferred Tax

Due to large accumulated losses no deferred tax asset/liability was identified during the year as per AS-22 Deferred Tax Asset / Liaability for the current year is recognized, due to large accumulated losses and very low level of operations during the year as per AS-22

9) All products are wires and cables, Hence no segment wise results are reported As perA.S-17.

10) Un secured loans include: Deferred sale tax loan of Rs. 8.52 Crores and Directors remuneration payable partaining to previous years of Rs.30.99 lacs and Loans and advances from Directors amounting to Rs.20.41 lacs.

11) Previous year's figures have been regrouped wherever necessary to conform to current year's classification.

12) Paise rounded off to nearest Rupee.

13) Schedules 1 to 18 form an integral part of the Balance Sheet and Profit and Loss Account.


Mar 31, 2010

CONTINGENT LIABILITIES:

As st As 3t 31.03.2010 30.09.2009 Rs. in Lakhs Rs. in Lakhs

In respect of

i) Guarantees issued 15.82 15.82

ii) Demand from customers consequent to reduction in Customs Duty 23.23 23.23

2) Sales are being shown in composite price, which includes Excise Duty, Sales Tax, Insurance and Transportation charges.

3) During the period Depletions/Obsolete values to the extent of Rs.21.26 Lakhs from Raw materials were identified and written off.

4) Confirmation of balances has not been received in respect of Sundry Creditors, Sundry Debtors, Loans & Advances and margin money. These accounts are subject to reconciliation and adjustments, if any.

5) Sundry creditors include outstanding dues to Micro.Small and Medium Undertakings, to the extent possible ascertained and identified from the available information, is Nil and Previous Year: NIL.

6) Related Party Disclosure:

Key personnel - Sri G.V.B.R. Reddy, No remuneration was paid during the period.

7) Deferred Tax

Due to large accumulated losses no deferred tax asset/liability was identified during the year as per AS-22

8) All products are wires and cables, Hence no segment wise results are reported As perA.S-17.

9) Deferred Sales Tax loan Rs.8.52 Crores is being shown Under Un-secured loans.

10) Previous years figures have been regrouped wherever necessary to conform to current period classification.

11) Paise rounded off to nearest Rupee.

12) Schedules 1 to 18 form an integral part of the Balance Sheet and Profit and Loss Account.


Sep 30, 2009

1) CONTINGENT LIABILITIES:

As at As at 30.09.2009 30.09.2008 Rs. in Lakhs Rs. in Lakhs

In respect of

i) Guarantees issued 15.82 107.7

ii) Letters of Credit - -

iii) Demand from customers consequent to reduction in Customs Duty 23.23 23.23

2) Sales are being shown in composite price, which includes Excise Duty, Sales Tax, Insurance and Transportation charges.

3) Sundry Debtors include Net of Debit and Credit balances. During the year old and unrecoverable debtors to the tune of Rs. Lakhs were written off.

4) During the year Depletions/Obsolete values to the extent of Rs.88.63 Lakhs from Raw materials, Rs.331.31 Lakh6 from W.LPand Rs.104.28 Lakhs from F.G were identified and written off. .

5) During the year some of the old equipments pertaining to Telecom Cables were impaired as per AS-28 (issued by ICAI) to zero value and the net value of Rs.9830667 (Gross block Less accumulated depreciation) is identified in the P&L account.

6) Confirmation of balances has not been received in respect of Sundry Creditors, Sundry Debtors, Loans and Advances margin money. These accounts are subject to reconciliation and adjustments, if any.

7) Sundry creditorsinclude outstanding dues to Micro,Small and Medium Undertakings, to the extent possible ascertained and identified from the available information, is Nil and Previous Year: NIL.

8) Deferred Tax

A. The Deferred Tax Asset of the current year is Nil where as for the Previous Year Deferred Tax Liability of Rs.92,14,036 has been recognized in the Profit & Loss Account

B. Break up of Deferred Tax Asset (Net) Showing in the Balance Sheet are as fllows:

Due to large accumulated losses no deferred tax asset/liability was identified during the year as per AS-22

9) All products are wires and cables. Hence no segment wise results are reported.

10) The company determines liability on Sales Tax Deferment on a Net Present value basis and accordingly provision is mada The provision of Rs.4784918A is shown under Administrated Expenses.

Provision will be made in each year for the incremental liability. Had the above item not been considered, the profit/loss for the-period has been reduced to the said amount. Also, the accumulated losses would have been lower by the above mentioned amount.

11) Previous years figures have been regrouped wherever necessary to conform to current years classification.

12) Paise rounded off to nearest Rupee.

 
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