Mar 31, 2015
Details of Equity Shareholders holding more than 5 % of equity shares
along with No.of Equity Shares held at the beginning and at the end of
the reporting period are as given below:-
Note No 2.1 A
Loans from Directors & Other Related Parties are repayable after 12
Months and carries interest rate Of 15% p.a.
Note No.2.2 B
Repayment of Unsecured loans are sub- ordinated to bank borrowings -
Cash credit from Andhra Bank
Note No. 2.2.a Employee Benefit:
As per Accounting Standard 15 "Employees Benefits" the disclosures of
Employees Benefit as defined in the Accouting Standard are given below:
Defined Contributions:
Payments and Provisions for employees include Rs.11.96 lakhs (Previous
Year RS.10.11 lakhs) recognised as expenses in respect of defined
contribution plans.
Defined Benefit Plans:
Gratuity - Gratuity is payable to all the eligible employees of the
Company on resignation, death, Permanent disablements in terms of the
Payment of Gratuity Act,1972.
Leave Encashment - Entitlement of annual leave is recognised when they
accrue to employeesAnnual leave can either be availed or encashed
subject to a restriction on the maximum number of accumulation of
leaves.
For the For the
Year Ended Year Ended
31.03.2015 31.03.2014
Note. No. 2.3
(a) CONTINGENT LIABILITIES :
(i) On account of Bank Guarantee 500,000 0
(ii) Claims against the company/ disputed
liabilities not acknowledged as debts:
(a) In respect of Excise matters 1,629,999 0
Demand raised for the year 2008-09 to 2013-14
(Oct-2013)-Appeal pending with Commissioner
Appeals (Central Excise - Nagpur)
(b) In respect of Customs matter - Demand
raised for the year 2000-2001.and
Appeal pending with CESTAT Mumbai) 696,062 0
The Company expects no liability in respect
of above matters.
TOTAL 2,826,061 -
(a) In accordance with the provisions of Schedule II of the Companies
Act, 2013 effective from 1st April,2014, the carrying value (Net of
residual value) amounting to Rs. 9,62,197/- (Net of Deferred Tax of Rs.
4,30,273/-) as a transitional provision has been recognised in the
retained earnings.
(b) Further in case of assets aquired prior to 1st April,2014, the
carrying value of assets (Net of Residual Value) is depreciated over
the remaining useful life as determined effective from 1st April, 2014.
(c ) Depreciation & Amortization expenses for the year would have been
higher by Rs.21,42,938/- had the company continued with the previous
assessment of useful life of such assets.
Note no. 2.4
The Company has not obtained Confirmations of balances outstanding to
trade payables and receivables to debit and credit of the parties which
are subject to reconciliation and review thereof by the management.
Note No. 2.5
RELATED PARTY TRANSACTIONS
Names of Associated Companies
Godavari Capital Pvt. Ltd.
Godavari Homes Pvt. Ltd A.K. Paper Products Pvt. Ltd.
NAMES OF ASSOCIATED FIRMS : NIL NAMES OF KEY MANAGEMENT PERSONNEL
Mr. Mukund Kakani, Mr. Mohit Jaju, Mr. Kirti Kumar Jain and Mr. Jeevan
Innani Names of Relatives of Key Management Personnel
Mr. Ghanshyam Jaju, Mrs. Kamala Jaju, Ghanshyam Jaju HUF, and Mrs.
Sushma kakani
Note No. 2.6
Previous period''s figures have been recast/restated to confirm to the
current year presentations.
Mar 31, 2014
Note No. 1.1.a Employee Benefit :
As per Accounting Standard 15 "Employees Benefits" the disclosures of
Employee Benefits as defined '' in the Accounting Standard are given
below:
Defined Contributions:
Payments and provisions for employees include Rs. 10.11 lakhs (Previous
Year Rs. 9.10 lakhs) recognised as expenses in respect of defined
contribution plans.
Defined Benefit Plans:
Gratuity - Gratuity is payable to all the eligible employees of the
Company on resignation, death,
permanent disablements in terms of the Payment of Gratuity Act, 1972
Leave Encashment - Entitlement to annual leave is recognised when they
accrue to employees. Annual leave can either be availed or encashed
subject to a restriction on the maximum number of accumulation of
leaves.
Rupees Rupees
As at As at
31.03.2014 31.03.2013
Note. No: 1.2
CONTINGENT LIABLITIES
On account of bank guarantee 0 0
Note. No: 1.3
The Company has evaluated the expenditure incurred on the development
cost of new product and related pending end use of the same and
accordingly Rs.45.72 lakhs(Pr Year Rs.49.82 lakhs) have been written
off and the balance of Rs.31.08 lakhs(Pr year Rs.76.80 lakhs) has been
carried forward, which will be written off in future as per accounting
policy consistently followed by the company
Note No.1.4
The company has not obtained confirmation of balances outstanding to
the debit or credit of the parties.
Note No. 1.5
RELATED PARTY TRANSACTIONS
Names of Associated Companies
Godavari Capital Pvt Ltd,
Godavari Homes Pvt. Ltd and A.K Paper Products Pvt.Ltd
Names of Associated Firms Nil
Names of Key Management Personnel
Mr. Ghanshyam Jaju, Mr. Mukund Kakani Mr. Kirti Kumar Jain and Mr.Mohit
Jaju Names of Relatives of Key Management Personnel
Mrs. Kamala Jaju, Ghanshyam Jaju HUF and Mrs. Sushma Kakani
Note No. 1.6
The Company has prepared these financial statements as per the format
prescribed by Revised Schedule VI to the Companies Act,1956 (the
Schedule) issued by Ministry of Corporate Affairs, Previous period''s
figures have been recast /restated to conform to the classification
required by the revised Schedule VI.
Mar 31, 2013
Note No. 1.1 a
Employee Benefits
As per Accounting Standard 15 "Employee Benefits" the disclosures of
Employee Benefits as defined in the Accounting Standard are given
below:
Defined Contributions:
Payments and provisions for employees include Rs.9.10 lakhs (Previous
Year Rs.8.98 lakhs) recognized as expenses in respect of defined
contribution plans.
Defined Benefit Plans:
Gratuity - Gratuity is payable to all the eligible employees of the
Company on resignation, death, permanent disablement in terms of the
Payment of Gratuity Act, 1972
Leave Encashment - entitlement to annual leave is recognized when they
accrue to employees. Annual leave can either be availed or encased
subject to a restriction on the maximum number of accumulation of
leaves.
Notes: The estimate of future salary increases, considered In actuarial
valuation, takes into account inflation, seniority, promotion and other
relevant factors, such as supply and demand in the employment market.
Note No.1.2
The company has evaluated the expenditure incurred on the development
cost of new product and related pending end use of the same and
accordingly Rs.49.82 lakhs (Pr Year 8.24 lakhs) have been written off
and the balance of Rs.76.80 lakhs (Pr Year 126.62 lakhs) has been
carried forward, which will be written off in future as per accounting
policy consistently followed by the company.
Note No.1.3
The company has not obtained confirmation of balances outstanding to
the debit or credit of the parties.
Note No.1.4
RELATED PARTY TRANSACTIONS Names of Associated Companies
Godavari Capital Pvt Ltd,
Godavari Homes Pvt. Ltd and A.K Paper Products Pvt.Ltd Names of
Associated Firms Nil
Names of Key Management Personnel
Mr. Ghanshyam Jaju, Mr. Mukund Kakani Mr. Kirti Kumar Jain and Mr.Mohit
Jaju
Note No.1.5
The Company has prepared these financial statements as per the format
prescribed by Revised Schedule VI to the Companies Act,1956 (the
Schedule) issued by Ministry of Corporate Affairs, Previous period''s
figures have been recast /restated to conform to the classification
required by the revised Schedule VI.
Mar 31, 2012
The Company is having one class of Equity Shares of face value Rs.10
per share. Each holder of Equity share is entitled to one vote per
share.
The Number of shares at the beginning and the end are the same.There
are no fresh issue of shares or forfeiture during the current year and
in the previous year.
Details of Equity Shareholders holding more than 5 % of equity shares
along with No.of Equity Shares held at the beginning and at the end of
the reporting period are as given below:-
Note No. 1.1 a Employee Benefits
As per Accounting Standard 15 "Employee Benefits" the disclosures of
Employee Benefits as defined in the Accounting Standard are given
below:
Defined Contributions:
Payments and provisions for employees include Rs.61.97 lakhs (Previous
Year Rs.52.99 lakhs) recognised as expenses in respect of defined
contribution plans.
Defined Benefit Plans:
Gratuity - Gratuity is payable to all the eligible employees of the
Company on resignation, death, permanent disablement in terms of the
Payment of Gratuity Act, 1972
Leave Encashment - entitlement to annual leave is recognised when they
accrue to employees. Annual leave can either be availed or encashed
subject to a restriction on the maximum number of accumulation of
leaves. .
The assumptions and other disclosures relating to the Actuarial
Valuation of Gratuity and leave Encashment are as under:
Note No.1.2
The company has developed new products valued Rs.1,26,62,657/-
(previous year Rs.1,34,87,281/-), the said project has been delayed for
more than three years, hence such products / project could be impaired
The management is in the process of carrying out an evolution for
impairment.
Pending completion of impairment testing, the impact of non
provisioning of loss if any, is presently not ascertainable.
Note No.1.3
The Company has prepared these financial statements as per the format
prescribed by Revised Schedule VI to the Companies Act,1956 (the
Schedule) issued by Ministry of Corporate Affairs, Previous period's
figures have been recast /restated to conform to the classification
required by the revised Schedule VI.
Mar 31, 2010
1 CONTINGENT LIABILITIES
On account of bank guarantee
2009-10(Rs.) 15000
2008-09(Rs.) 15000
3 Employee Benefits The Company has the various benefits prescribed to
employee as under:
1. Defined Contribution Schemes
a. Employee Provident Fundb. Employee Pension Schemec. Employee State
Insurance
2. Defined Benefit Schemes
a. Gratuity Plan is payable to all eligible employees of the company in
terms of the provisions of the payment of Gratuity Act.
3. CURRENT ASSESTS, LOANS AND ADVANCES
a. In the opinion of the Board of director:, the current assets loans
and advances are approximately of the value stated if realized in the
ordinary course of business. The provision for depreciation and for all
known liabilities is adequate and not in excess of the amounts
considered reasonably necessary.
b. The company has not obtained confirmation of balances outstanding
to the debit or credit of the parties.
4 The companys significant leasing arrangements are in respect of
operating leases for office premises. These leasing arrangements, which
are not non-cancelable, range between 11 months and 9 years generally
or longer and are usually renewable by mutual consent on mutually
agreeable terms. The aggregate lease rentals payable are charged as
Rent.
5. The variation in published unaudited quarterly results for the
financial year 2009-10 has exceeded more than 10% due to increase in
Electricity Expenses by Rs.6.88 lakhs.
6. Previous year figures have been regrouped and reclassified
wherever necessary to confirmed to the current years classification.
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