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Notes to Accounts of Kay Power And Paper Ltd.

Mar 31, 2015

1. Terms/rights attached to equity shares.

The company has only one class of equity shares at par value of Rs. 10/- per share. Each holder of equity shares is entitled to one vote per share. In the event of liquidation of the company, the holders of equity shers will be entitled to receive remaining assets of the company, after distribution of all preferantial amount. the distribution will be in proporation to the number of equity shares held by the shareholders.

2. Contingent Liabilities : Gurarntee executed in favour of customs for EPCG has been expired and unascertained duty for unfulfilled export obligation is outstanding.

3. The provisions of Employees State Insurance Act are not applicable to the Company.

4. Net deferred tax has not been recognised in view of uncertainty about future taxable income against asset which the deferred tax asset can be realised.

5. C.I.F. value of imported west paper Rs. 49,39,355.06 (Rs.41,73,614.43)

6. Consumption of Raw Material for the year 2014-2015

7. Related Party Disclosure :

List of the parties with whom transactions have taken place during the year. -

a. Releted Parties

1) Kay Bouvet Engineering Ltd. - Unit I & III,

2) Kay Nitroxygen Pvt Ltd.

b. Key Managerial Personnel -

1) Mr. Niraj Chandra, Chairman and Managing Director

2) Ms. Deepa Agarwal, Director & Relative

3) Mr. Sagar Mohite, Company Secretary

4) Mr. Ganesh Hari Rotithor, Chief Financial Officer

8. Segmentwise Reporting :

The company has mainly two divisions viz Paper and power. During the current year 2014-15 only paper Division was operational, hence segmentwise results are not given

9. The previous year figures have been re-grouped/ reclasified to confirm to current year classification Note : Figures in bracket pertain to previous year or reverse impact


Mar 31, 2014

Note 1 : Contingent Liabilities : Gurarntee executed in favour of customs for EPCG has been expired and unascertained duty for unfulfilled export obligation is outstanding.

Note 2 : The provisions of Employees State Insurance Act are not applicable to the Company.

Note 3 : Net deferred tax has not been recognised in view of uncertainty about future taxable income against asset which the deferred tax asset can be realised.

Note 4 : C.I.F. value of imported west paper Rs. 41,73,614.43 (Rs.1,54,36,753)

Note 5 : Related Party Disclosure :

List of the parties with whom transactions have taken place during the year. -

a. Associate Companies -

1) Kay Bouvet Engineering Ltd. - Unit III,

2) Kay Nitroxygen Pvt Ltd.

b. Key Management Personnel -

1) Mr. Niraj Chandra, Chairman and Managing Director

2) Ms. Deepa Agarwal, Director & Relative

Note 6 : Segmentwise Reporting :

The company has mainly two divisions viz Paper and power. During the current year 2013-14 only paper Division was operational, hence segmentwise results are not given.

Note 7 : the previous year figures have been re-grouped/ reclasified to confirm to current year classification

Note : Figures in bracket pertain to previous year or reverse impact


Mar 31, 2013

Note 1 : Contingent Liabilities : Gurarntee executed in favour of customs for EPCG has been expired and unascertained duty for unfulfilled export obligation is outstanding.

Note 2 : The provisions of Employees State Insurance Act are not applicable to the Company.

Note 3 : Net deferred tax has not been recognised in view of uncertainty about future taxable income against asset which the deferred tax asset can be realised.

Note 4 : C.I.F. value of imported west paper Rs. 1,54,36,753 (Rs.66,46,010)

Note 5 : Related Party Disclosure :

List of the parties with whom transactions have taken place during the year.

a. Associate Companies -

1) Kay Bouvet Engineering Ltd. - Unit III,

2) Kay Nitroxygen Pvt Ltd.

b. Key Management Personnel -

1) Mr. Niraj Chandra, Chairman and Managing Director

2) Ms. Deepa Agarwal, Director & Relative

1) Details of Transactions are as follows :-

a) With Associate Companies -

b) With Key Management Personnel - NIL,

2) Outstanding Balance as on 31.03.2013 :

a) Associate Companies - NIL

b) Key Management Personnel - NIL

Note 6 : Segmentwise Reporting :

The Company has mainly two Divisions viz Paper and Power. During the current year 2012-13 only Paper Division was operational, hence segmentwise results are not given.

Note 7 : The previous year figures have been re-grouped /reclassified to conform to current year classification.

Note 8 : Figures in bracket pertain to previous year or give reverse impact.


Mar 31, 2012

A Terms/rights attached to equity shares

The company has only one class of equity shares a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amount. The distribution will be in proportion to the number of equity shares held by the shareholders.

* In absence of any information from the vendors with regard to their registration under the Micro, Small and Medium Enterprises Developement act 2006, unable to determine, but the payments are released within credit extended by the vendors and there is no liability towards interest on delayed payments during the year under the said act. There is also no amount of outstanding intrest In this regard brought forward from previous year.

Note 1.: Contingent Liabilities : Gurarntee executing in favour of customs for EPCG has been expired and unascertained duty for unfulfilled export obligation is outstanding.

Note 2. : The provisions of Employees State Insurance Act are not applicable to the Company.

Note 3. : Net deferred tax has not been recognised in view of uncertainty about future taxable income against asset which the deferred tax asset can be realised.

Note 4. : C.I.F. value of imported west paper Rs. 66,46,010 (Rs. 24,50,464)

Note 5. Related Party Disclosure :

List of the parties with whom transactions have taken place during the year.

a. Associate Companies - 1] Kay Bouvet Engineering Pvt Ltd. - Unit m, 2] Kay Nitroxygen Pvt Ltd

b. Key Management Personnel - Mr. Niraj Chandra (C.M.D.), Ms. DeepaAgarwal (Director & Relative) Details of Transactions are as follows (Rs.ln Lac)

Key Management Personnel - NIL,

1] Purchase from Associate Companies - NIL,

2] Outstanding Balance as on 31.03.12 - Key Management Personnel - NIL, Associate Companies - NIL

Note 6. The Financial Statement for the year ended 31 March 2011 had been prepared as per the then applicable pre-revised schedule VI to the companies act 1956. Consequent to notification of revised schedule VI under the companies act 1956, the financial statements for the year ended 31 March 2012 are prepared as per revised schedule VI. Accordingly, the previous year figures have also been reclassified to conform to this year's classification. Adopotion of revised schedule VI to previous year figures does not impact recognition and measuremetn principals followed for previous year of financial statements.

Note 7.: Figures in bracket pertain to previous year or give reverse impact.


Mar 31, 2010

1. Contingent Liabilities : Gurarntee executing in favour of customs for EPCG has been expired and unascertained duty for unfulfilled export obligation is outstanding.

2. The provisions of Employees State Insurance Act are not applicable to the Company.

3. Net deferred tax has not been recognised in view of uncertainty about future taxable income against asset which the deferred tax asset can be realised.

4. C.I.F. value of imports Rs. Nil ( Rs. 11,74,570 ).

5. Basic & Diluted Earning Per Share of Rs.10 each after extra-ordinary item Re. 0.80 (Rs.2.21).

6. Related Party Disclosure :

List of the parties with whom transitions have taken place during the year.

a. particulars of Associate Companies

1. Kay Bouvet Engineering Pvt Ltd. - Unit III 2] Kay Nitrorygen Pvt Ltd

b. Key Management Personnel

Mr. Niraj Chandra Chairmen & Managing Director

Ms. Deepa Agarwal Director & Relative

7. Segmentwise Reporting

The Company has mainly two Divisions, Paper And Power Division. However during the year only Paper Division was operational, hence segmentwise results are not given :

8. Information regarding Capacity, Production, Stocks and Sales -

9. Refer Annexure for additional information pursant to part IV of Schedule VI to the Companies Act, 1956.

10. Figures in bracket pertain to previous year or give reverse impact.

 
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