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Notes to Accounts of Khandelwal Extractions Ltd.

Mar 31, 2015

1.1 During the year Authorised capital is increased to Rs.200 lacs incorporating 50000 10.5% Cumulative Redeemable Preference Shares of Rs. 100/- each aggregating Rs.50 lacs

1.2 During the year 5000, 10% cummulative Redeemable preference shares of Rs.100/- each (series II) have been redeemed out of the proceeds of fresh issue of 5000 12% cummulative Redeemable preference shares of Rs.100/- each (series III)

1.3 There is no change in outstanding number of Equity as well as 12% Preference shares Series I and Series II and also in list of shareholder holding more than 5% Shares as at 31.03.2015 and 31.03.2014

2.1 Based on the information available with the Company regarding the status of suppliers as defined under MSMED Act, 2006, there was no principal amount overdue and no interest was payable to the Micro, Small and Medium Enterprises on 31th March, 2015 as per the terms of contract.

b) Defined Benefit Plan

The Employees Gratuity Fund Scheme managed by L.I.C. is Defined Benefit Plan. The present value of obligation is determined based on actuarial valuation provided by L.I.C.

3 CONTINGENT LIABILITIES: As At As At 31.03.2015 31.03.2014

Claims against the Company not acknowledged as debts. 520,951 520,951

Arrear of Dividend on 12% Cumulative Redemable 448,274 -

Preference Shares for the year 2014-15 (Excluding Dividend Tax)

4 Directors have paid on maturity date dividend of Rs. 32380/- (including Dividend Tax ) on 10% 5000 Cumulative Redeemable Preference shares of Rs. 100/- each out of accumulated past profits.

5 Figures of previous year have been regrouped and recast to conform to the layout of the accounts for the current year.


Mar 31, 2014

1. During the year 5000 10% cummulative Redeemable preference shares of Rs.100/- each (series I) have been redeemed out of the proceeds of fresh issue of 5000 12% cummulative Redeemable preference shares of Rs.100/- each (series II)

2. There is no change in outstanding number of Equity as well as Preference shares of 10% Series II, 12% Series I and also in list of shareholder holding more than 5% Shares as at 31.03.2014 and 31.03.2013

3. Based on the information available with the Company regarding the status of suppliers as defined under MSMED Act, 2006, there was no principal amount overdue and no interest was payable to the Micro, Small and Medium Enterprises on 31st March , 2014 as per the terms of contract.

4. Balances of Sundry Debtors , Advances and Creditors, are subject to confirmation.

5. CONTINGENT LIABILITIES: As At As At 31.03.2014 31.03.2013

Claims against the Company not acknowledged as debts. 520,951 520,951

6. Directors have proposed dividend on Preference Shares at the prescribed rate for the year 2013-14.

7. Figures of previous year have been regrouped and recast to conform to the layout of the accounts for the current year.


Mar 31, 2013

1 Balances of Sundry Debtors , Advances and Creditors, are subject to confirmation.

Previous Year figures have not been given as same were not made available by L.I.C. Acturial Valuation of Leave Encashment has not been carried out as Company has paid leaves earned upto 31.03.2013. 25 Earning Per Share (EPS):

Basic earning per share is calculated by dividing the net profit for the year attributable to ordinary share holders by the weighted average No. of ordinary shares out standing during the year.

2 CONTINGENT LIABILITIES: As At As At 31.03.2013 31.03.2012

Claims against the Company not acknowledged as debts. '' 520,951 131,603

3 Directors have proposed dividend on Preference Shares at the prescribed rate for the year 2012-13.

4 Figures of previous year have been regrouped and recast to conform to the layout of the accounts for the current year.


Mar 31, 2012

1. Balances of Sundry Debtors , Advances and Creditors, are subject to confirmation.

2. Related Party Disclosures:

a) Related Party disclosures as required under Accounting Standard 18 - "Related Party Disclosures" issued by the Institute of Chartered Accountants of India are given below

Key Management Personnel and their relatives :

V.N. Khandelwal Director (Works) Rohit Khandelwal Relative

Dinesh Khandelwal Director (Finance) Suraj Devi Relative Khandelwal

K.N. Khandelwal Relative Radha Rani Relative Khandelwal

Sudhir Kumar Relative Kiran Khandelwal Relative Khandelwal

Anil Khandelwal Relative Rajni Khandelwal Relative

Aniana Khandelwal Relative

3. CONTINGENT LIABILITIES: As At As At 31.03.2012 31.03.2011

Claims against the Company not acknowledged as debts. 131,603 145,603

4. Directors have proposed dividend on Preference Shares at the prescribed rate for the year 2011-12.

5. Figures of previous year have been regrouped and recast to conform to the layout of the accounts for the current year.


Mar 31, 2010

As at As at 31.03.2010 31.03.2009 Rs. Rs. A. Contingent Liabilities :

Claims against the Company not acknowledged as debts. 1,45,603 2,32,022

Income Tax under dispute (matter pending in appeal) 1,86,721 1,86,721 (Amount paid Rs. 186721 and shown under loans and advances)

2. Disclosure of Sundry Creditors based on the information available with Company regarding Status of the suppliers as defined under Micro, Small and Medium Enterprises Development Act, 2006. Amount outstanding for more than 45 days is NIL.

3. Related Parties Disclosures:

(a) Key Management Personnel & Relatives

V. N. Khandelwal Director (Works ) RohitKhandelwal Relative

Dinesh Khandelwal Director ( Finance) Suraj Devi Khandelwal Relative K.N. Khandelwal Relative Radha Rani Khandelwal Relative

Sudhir Kumar Khandelwal Relative Kiran Khandelwal Relative

Anil Khandelwal Relative Rajni Khandelwal Relative

Anjana Khandelwal Relative

4. Figures of previous year have been regrouped and recast to conform to the layout of the accounts for the current year.

 
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