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Notes to Accounts of Jagan Lamps Ltd.

Mar 31, 2015

1) CONTINGENT LIABILITIES

Bond executed in favour of Dy. Commissioner Central Excise, for clearance of Imported Goods for Rs. 300 Lakhs (Previous Year Rs. 200 Lakhs)

2 a) Licensed, Installed Capacities & Actual Production :

Licensed Capacity Installed Capacity Actual Production

3 Segment Reporting

The Company operates in Single Business Segment of " Manufacturing of Auto Lamps and Bulbs." For the purpose of geographical segments the consolidated sales and related items have been divided into two segments.

4 Sundry Creditors and Sundry Debtors shown in the Balance Sheet are subject to confirmation.

5 The carrying amount of the assets, whose remaining useful life as on 1st April, 2014 is nil as per criteria prescribed as per the Companies Act, 2013, amounting to Rs. 11.22 Lacs has been charged to Profit and Loss Account.

6 Borrowing cost amounting to Rs. 7.57 Lacs has been capitalised as part of imported plant and machinery as loan Funds were utilised for acquiring the said fixed assets.

7 Necessary disclosures under Micro, Small and Medium Enterprises Development Act,2006,can only be considered once the relevant information to identify the suppliers who are covered under the said Act are received from such parties.


Mar 31, 2013

1 Bond executed in favor of Dy. Commissioner Central Excise, for clearance of Imported Goods for Rs. 200 Lakhs (previous Year Rs. 200 Lakhs)

2 Balances of Sundry Creditors and Sundry Debtors shown in the Balance Sheet as subject to confirmation.

3 Additional information pursuant to paragraph 3, 4C and 4D of the Part II of Schedule VI of the Companies Act 1956.

Segment Reporting

The Company operates in Single Business Segment of" Manufacturing of Auto Lamps and Bulbs." For the purpose of geographical segments the consolidated sales and related items have been divided into two segments.

4 In terms of Accounting Policy no. 6, Bank balances in foreign Currency as on 31.03.2012 is now revalued at conversion rate prevailing as on 31.03.2012.during current year and effect thereof has been shown under Prior Period Adjustment.

5 Disclosure as required under Notification No. G.S.R. 719(E) dated 16 November 2007 issued by the Department of Companies Affairs (as certified by the Management) under Micro Small and Medium Enterprises Act 2006 may be read as NIL as on 31.03.2013(NIL as on 31.03.2012).


Mar 31, 2012

1 Bond executed in favor of Dy. Commissioner Central Excise, for clearance of Imported Goods for Rs. 200 Lakhs (previous Year Rs. 200 Lakhs)

2 Sundry Creditors and Sundry Debtors shown in the Balance Sheet as subject to confirmation.

3 Additional information pursuant to paragraph 3, 4C and 4D of the Part II of Schedule VI of the Companies Act 1956.


Mar 31, 2011

CONTINGENT LIABILITIES

1. Bond executed in favour of Dy. Commissioner Cental Excise, for clearance of Imported Goods for Rs. 200 Lakhs (previous Year Rs. 200 lakhs)

2. Sundry Creditors and Sundry Debtors shown in the Balance Sheet are subject to confirmation.

3. Segment Reporting

The Company operates in single Business Segment of" Manufacturing of Auto Lamps, & Bulbs" for the purpose of geographical segments the consolidated sales and related ithems have been divided into two segments.


Mar 31, 2010

CONTINGENT LIABILITIES

1. Bond executed in favour of Dy. Commissioner Cental Excise, for clearance of Imported Goods for Rs. 200 Lakhs (previous Year Rs. 200 lakhs)

2. Sundry Creditors and Sundry Debtors shown in the Balance Sheet as subject to confirmation.

3. Additional information pursuant to paragraph 3, 4C and 4D of the Part II of Schedule VI of the Companies Act 1956.

4 Segment Reporting

The Company operates in Single Business Segment of " Manufactureing of Auto Lamps,& Bulbs" For the purpose of geographical segments the consolidated sales and related ithems have been divided into two segments.

Domestic Sale India

Exports Other Countries

5 Related Parties Disclosures

The Company has not entered into any transaction with the related parties which require reporting as per Accounting Standard 18 (AS - 18)

6 Disclosure as required under Notification No. GSR.719 (E) Dated 16th November 2007 issued by the Department of Companies Affaires (as certified by the managment) under micro small and medium enterprises Devopment Act 2006, may be read as NIL as on 31.03.2010 (NIL as on 31.03.2009).

7 Previous Year figures have been regrouped / reclassified, whereever considered necessary.

 
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