Mar 31, 2015
1. "The Company had lodged claims on Axis Bank demanding repayment of
fraudulent withdrawal of Rs .39,00,500/- during the year 2011-12. The
adjudication complaint is Pending before the Adjudicator of Karnataka
and other legal proceedings to recover the amount is before the Cyber
Appellate Tribunal. In the opinion of management and legal consultant
the amount is considered good for recovery thru judicial process. The
current assets include the above claim of Rs. 39,00,500 (previous year
Nil) recoverable from Axis Bank Ltd and is considered as good"
2. In the opinion of the Management:
a) All the current assets, loans and advances have a value on
realization at least equal to the amount at which they are stated in
the accounts.
b) All the known liabilities have been provided no liability,
contingent or otherwise, except those which are stated in the accounts.
3. Depreciation
There is a change in accounting policy for providing Depreciation as
per Schedule II of the Companies Act, 2013 due to which there is an
increase of Rs 8,93,789/- in the current year depreciation and Rs
39,31,305 of additional Depreciation
has been charged to Reserves & surplus. The new rates of Depreciation
have been reworked as per the useful life of the assets as per Schedule
II of the Companies Act, 2013.
4. Commission to Directors not worked out in view of Loss during the
year.
5. Based on the information received by the Company from the
creditors in regard to their S.S.I. Status, there are no amounts due to
such creditors outstanding for over 30 days exceeding Rs. One lakh as
on 31st March, 2015. Based on such information, there is no liability
for interest on delayed payments which would be payable under "The
Interest on Delayed Payments to Small Scale and Ancillary Industrial
undertakings ordinance, 1992". Moreover, the Company has not received
any claims in respect of interest.
6. Additional information in pursuance to clause (ii) of part II of
the Schedule III of Companies Act, 2013 are given to the extent as
applicable to the Company.
7. The Company has written off old debit and credit balances of
various parties during the year, net debit on this account is Rs NIL
(Previous Year Rs NIL/- net Debit)
8. Prior Period expenses of Rs NIL (Previous Year expenses Rs
79,909/-)
9. Balances of Debtors, Creditors and Other parties are subject to
confirmations.
10. Previous year's figure have been re-grouped and re-arranged
wherever necessary.
Mar 31, 2014
1. "The Company had lodged claims on Axis Bank demanding repayment of
fraudulent withdrawal of Rs.39,00,500/- during the year 2011-12. The
adjudication complaint is pending before the Adjudicator of Karnataka
and other legal proceedings to recover the amount is before the Cyber
Appellate Tribunal. In the opinion of the management and legal
consultant, the amount is considered good for recovery through judicial
process. The current assets include the above claim of Rs.39,00,500
(previous year Nil) recoverable from Axis Bank Ltd and is considered as
good.
2. In the opinion of the Management:
a) All the current assets, loans and advances have a value on
realization at least equal to the amount at which they are stated in
the accounts.
b) All the known liabilities have been provided no liability,
contingent or otherwise, except those which are stated in the accounts.
3. Computation of Net Profit as per Section 349 r.w.s 309(5) and
Section 198 of the Companies Act, 1956.
Commission to Directors not worked out in view of Loss during the year
4. The investment in the Equity Shares of Southern Agrosynthese
Limited amounting to Rs.21,14,549/- is valued at Rs. 1/- as the net
worth of the said Company is negative.
5. Based on the information received by the Company from the creditors
in regard to their S. S. I. Status, there are no amounts due to such
creditors outstanding for over 30 days exceeding Rs. One lakh as on
31st March,2012. Based on such information, there is no liability for
interest on delayed payments which would be payable under "The Interest
on Delayed Payments to Small Scale and Ancillary Industrial
undertakings ordinance, 1992". Moreover, the Company has not received
any claims in respect of interest.
6. The Company has written off old debit and credit balances of
various parties during the year, net debit on this account is '' NIL
(Previous Year '' NIL/- )
7. Balances of Debtors, Creditors and Other parties are subject to
confirmations.
8. Previous year''s figure have been re-grouped and re-arranged
wherever necessary.
Mar 31, 2013
1. Contingent Liabilities not provided in respect ot:
All known liabilities are provided for in accounts except liability of
a contingent nature in respect of Sales tax demand of Rs.44.19 lacs.
The Company has obtained a Stay from Gujarat High Court.
2. In line with the decision of the Board following additional note to
Notes to Accounts may be added. The note may be added after note on
contingent liability.
" The Company had lodged claims on Axis Bank demanding repayment of
fraudulent withdrawal of Rs. 39,00,500/- during the year 2011.12. The
adjudication complaint is pending before the Adjudicator of Karnataka
and other legal proceedings to recover the amount is before the Cyber
Appellate Tribunal. In the opinion of management and legal consultant
the amount is considered good for recovery thru judicial process. The
current assests include the above claim of Rs. 39,00,500 ( prev year
Nil) recoverable from Axis Bank Ltd. and is considered as good".
3. In the opinion of the Management:
a) All the current assets, loans and advances have a value on
realization at least equal to the amount at which they are stated in
the accounts.
b) All the known liabilities have been provided. There is no liability,
contingent or otherwise, except those which are stated in the accounts.
4. Computation of Net Profit as per Section 349 r.w.s 309(5) and
Section 198 of the Companies Act, 1956.
Commission to Directors not worked out in view of Loss during the year
5. The investment in the Equity Shares of Southern Agrosynthese
Limited amounting to Rs.21,14,549/- is valued at Rs. 1/- as the net
worth of the said Company is negative.
6. Based on the information received by the Company from the creditors
in regard to their S. S. I. Status, there are no amounts due to such
creditors outstanding for over 30 days exceeding Rs. One lakh as on
31st March,2012. Based on such information, there is no liability for
interest on delayed payments which would be payable under "The Interest
on Delayed Payments to Small Scale and Ancillary Industrial
undertakings ordinance, 1992". Moreover, the Company has not received
any claims in respect of interest.
7. The Company has written off old debit and credit balances of
various parties during the year, net debit on this account is Rs NIL
(Previous Year Rs 27,290/- net Debit)
8. Balances of Debtors, Creditors and Other parties are subject to
confirmations.
9. Previous year''s figure have been re-grouped and re-arranged
wherever necessary.
10. For the year ended 31.03.2013 the revised schedule VI that was
notified under the Companies Act, 1956, has become applicable to the
company, the companies reclassified the previous year figures to
conform with the current year classification. The adoption of the
Revised Schedule VI does not impact the recognition and measurement
principles followed for presentation of the financial statement.
However, it significantly impacts the presentation and disclosures made
in the financial statements, particularly the presentation of the
Balance Sheet.
Mar 31, 2012
1. Contingent Liabilities not provided in respect of:
All known liabiiities7are provided for in accounts except liability of
a contingent nature inrespect of Sales tax demand of Rs.44.19 lacs. The
Company has obtained a Stay from Gujarat Hjgn Court.
2. In the opinion of the Management:
a) All the current assets, loans and advances nave a value on
realization at 'east equal to the amount at which they are stated in
the accounts.
b) All the known liabilities have been provided no liability,
contingent or otherwise, except those which are stated in the accounts.
As per special resolution passed by the members at the Annual general
Meeting held on 23.09.1998, 29.09.1999 and 31.12.2004.
3. The investment in the Equity Shares of Southern Agrosynthese
Limited amounting to Rs.21,14,549/- is valued at Rs.1/-as the net worth
of the said Company is negative..
4. Based on the information received by the Company from the creditors
in regard to their S. S.l. Status, there are no , amounts due to such
creditors outstanding for over 30 days exceeding Rs. One lakh as on
31st March,2012. Based on such information, there is, no liability for
interest on delayed payments which would be payable under 'The Interest
on Delayed Payments'to Small Scale and Ancillary Industrial
undertakings ordinance, 1992". Moreover, the Company has not received
any claims in respect of interest.
5. The Additional Information pursuant to provisions of paragraphs 3,
4C & 4D of Part II of the Schedule VI to the Companies Act 1956 are
giveh to the extent as applicable to the Company.
6. The Company has written off old debit and credit balances of
various parties during the year, net debit on this account is Rs. 27,290
(Previous Year Rs. 2,20,630/- net Debit)
7. Prior Period income 'of Rs. NIL/- (Previous YearRs. NIL/-)
8. Future lease obligations on assets taken on Finance Lease, over
remaining period amounts to Rs. NIL (Previous Year Rs. NIL)
Related Party Information (where transactions have taken place during
the year)
(a) Subsidiary Company
GPL Finance And Investments Limited
Gujarat Polybutenes Pvt.Ltd
(b) Relatives
Dr. (Ms.) S. R. Thakkar
(c) Key Management Personnel
Dr. R. M. Thakkar
Ms. Urmi N. Prasad
Ms. Ursula Thakkar
9. Balances of Debtors, Creditors and Other parties are subject to
confirmations.
10. Previous year's figure have been re-grouped and re-arranged
wherever necessary.
11. For the year ended 31.03.2012 the revised schedule VI that was
notified under the Companies Act, 1956, has become applicable to the
company, the companies reclassified the previous year figures to
conform with the current year classification. The adoption of the
Revised Schedule VI does not impact the recognition and measurement
principles followed for presentation of the financial statement.
However, it significantly impacts the presentation and disclosures made
in the financial statements, particularly the presentation of the
Balance Sheet.
Mar 31, 2010
1. Contingent Liabilities not provided in respect of:
All known liabilities are provided for in accounts except liability of
a contingent nature in respect of Sales tax demand of Rs.44.19 lacs.
The Company has obtained a Stay from Gujarat High Court.
2. In the opinion of the Management:
a) All the current assets, loans and advances have a value on
realization at least equal to the amount at which they are stated in
the accounts.
b) All the known liabilities have been provided no liability,
contingent or otherwise, except those which are stated in the accounts.
3. Buyback of shares-events after balance sheet date :
The Company offered to buyback 12,11,762 number of equity shares
representing 20.13% of the total subscrbed and paid up equity shares
through tender offer. The buyback was since approved by SEBI and offers
were received for buyback of 849,635 shares. As on the reporting date
applicable legal and financial formalities were completed and the
effective shares capital is reduced by Rs. 84,96,350 to Rs 5,16,91,660.
After the date of this balance sheet the premium paid on buyback of
shares @ Rs. 30/- per share on above equity shares is appropriated out
of the available free reserves and surplus as on 31st March2010, thus
reducing the reserves and surplus amount by, Rs. 2,54,89,050 as on
reporting date.
As on 31st March 2010, the expenses incurred on buyback procedure
including the applicable fees, charges paid/payable to SEBI, Merchant
Banker, Registrar and any other service provider is treated as prepaid
and suitable accounting of such expenses at actual will be reflected in
the financials for the year 2010-11.
As per special resolution passed by the members at the Annual General
Meeting held on 23.09.1998,29.09.1999 and 31.12.2004
4. The investment in the Equity Shares of Southern Agrosynthese
Limited amounting to Rs.21,14,549/- is valued at Rs.1/- as the net
worth of the said Company is negative.
5. Loans and Advances includes due from officers of the Company Rs.
Nil (P.Y. Rs. Nil) and dues from companies Rs.4,27,33,571/- (RY. Rs.
4,29,49,482/-)
6. Based on the information received by the Company from the creditors
in regard to their S. S. I. Status, there are no amounts due to such
creditors outstanding for over 30 days exceeding Rs. One lakh as on 31"
March,2010. Based on such information, there is no liability for
interest on delayed payments which would be payable under The Interest
on Delayed Payments to Small Scale and Ancillary Industrial
undertakings ordinance, 1992". Moreover, the Company has not received
any claims in respect of interest.
7. The Additional Information pursuant to provisions of paragraphs 3,
4C & 4D of Part II of the Schedule VI to the Companies Act 1956 are
given to the extent as applicable to the Company.
8. The Company has written off old debit and credit balances of
various parties during the year, net debit on this account is of Rs.
65,642/- (Previous Year Rs. 73,280/- net Debit)
9. The Company has written off Receivable and claims amounting to Rs.
512,734 (Previous year nil) as non recoverable and charged to profit &
loss account as bad debts.
10. Prior Period Income of Rs. NIL/- (Previous year Rs. 81,010/-)
11. Future lease obligations on assets taken on Finance Lease, over
remaining period amounts to Rs.NIL /-(Previous Year Rs. NIL/-)
12. Earning Per Share:
13. Transaction With Related Parties:
Related Party Information (where transactions have taken place during
the year)
(a) - Subsidiary Company
GPL Finance And Investments Limited Gujarat Polybutenes PvtXtd
(b) Relatives
Dr. (Ms.) S. R. Thakkar
(c) Key Management Personnel Dr. R. M. Thakkar
Ms. Urmi N. Prasad Ms. Ursula Thakkar
14. Balances of Debtors, Creditors and Other Parties are subject to
confirmations.
15. Previous Years have been re-grouped and re-arranged wherever
necessary.
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article