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Notes to Accounts of Khator Fibre & Fabrics Ltd.

Mar 31, 2015

1. CONTINGENT LIABILITIES AND COMMITMENTS

PARTICULARS As At March 31,2015 As At March 31,2014 Rupees Rupees

i) Mathadi Labour Dispute 655,320.00 655,320.00

ii) Corporate Guarantees on behalf of other companies 124,048,000.00 124,048,000.00

124,703,320.00 124,703,320.00

2. Disclosure pursuant to Accounting Standard- 15 "Employee Benefits"

(i) The company has made a provision amounting to Rs.171980/- in the profit & Loss Account for the year ended 31st March 2015 under defined Contribution Plans.

(ii) Details of Defined Plan

Assumptions Gratuity

Discount Rate 8% P.A.

Expected Return On Plan Assets N/A

Mortality Indian Assured Lives Mortality (2006-08) Ultimate

Future Salary Increases 5% after every 2 years

Disability Nil

Attrition 0.5% p.a.

Retirement 58 Years

3. The details pertaining to related party transactions in terms of Accounting Standard (AS 18) "Related Parties" are as follows:

a) Related Parties:

Name of the related party Nature of Relationship

1. Arvind S. Khator Director

2. Ashok S. Khator Director

3. Kailash S. Khator Mg. Director

b) . Relative of Key Management Personnel 1. Praful A.Khator

(c) Disclosure of Transactions between the Company and Related Parties and the status of Outstanding Balances as on 31st March, 2015

(d) Corresponding figures of the previous year have been regrouped to confirm with the year's groupings.

(f) The company is not having adequate details to ascertain the status of sundry creditors as to whether they are Micro, Small and Medium enterprises or not, hence necessary informations with regard to amount due and total outstandings are not ascertainable with reference to Micro, Small and Medium Enterprises.

(g) Balance in personal accounts are subject to confirmation from respective parties.

(h) The Depreciation Expense for the year ended 31 March, 2015 would have been lower by Rs. 29.44 Lacs if company had continued with the previous assessment of useful life of such assets.


Mar 31, 2014

NOTE N0.1 Disclosure pusuant to Accounting Standard-15 "Employee Benefits"

(i) The company has made a provision amounting to Rs.126085 in the profit & Loss Account for the year ended 31st march 2014 under defined Contribution Plans.

(ii) Details of Defined Benefit Plan (ii) Details of Defined Plan

NOTE : 2 The details pertaining to related party transactions in terms of Accounting Standard (AS 18) "Related Parties" are as follows:

a) Related Parties:

Name of the related party Nature of Relationship

1. Arvind S. Khator Director

2. Ashok S. Khator Director

3.Kailash S. Khator Mg. Director

b) Relative of Key Management Personnel

1. Praful A.Khator

a) Corresponding figures of the previous year have been regrouped to confirm with the year''s groupings.

b The company is not having adequate details to ascertain the status of sundry creditors as to whether they are Micro, Small and Medium enterprises or not, hence necessary informations with regard to amount due and total outstandings are .not ascertainable with reference to Micro, SmaJI and Medium Enterprises.

c) Balance in personal accounts are subject to confirmation from respective parties.

d) SEGMENT REPORTING

Segment wise Revenue,Resuits and Capital Employed


Mar 31, 2011

A) Corresponding figures of the previous year hare been regrouped to confirm with the year's groupings.

B) The company is not having adequate details to ascertain the status of sundry creditors as to whether they are Micro, Small enterprises or not, hence necessary informations with regard to amount due and total outstandings are not ascertainable reference to Micro, Small and Medium Enterprises.

C) Balance in personal accounts are subject to confirmation from respective parties.

D) RELATED PARTY DISCLOSURES:

(i) Key Management Personnel:

1. Arvind S. Khator Director

2. Asriok S. Khator Director

3. Kailash S. Khator M. Director

(ii) Relative of Key Management Personnel

1. Prafful A.Khator

E) CONTINGENT LIABILITY NOT PROVIDED FOR: 31.03.2011 30.03.2010

i) Malhadi Labour Dispute 655320/- 635320/-

F) Disclosure pusuant to Accounting Standard-1S "Employes Benefits"

(i) The company has made a provision amounting to Rs.109203.00 in the profit & loss Account for the year ended 31 st march 2011 under defined Contribution Plans.


Mar 31, 2010

A) Corresponding figures of the previous year have been regrouped to confirm with the years groupings.

b) The company is not having adequate details to ascertain the status of sundry creditors as to whether they are Micro, Small and Medium enterprises or not, hence necessary informations with regard to amount due and total outstandings are not ascertainable with reference to Micro, Small and Medium Enterprises.

c) Balance in personal accounts are subject to confirmation from respective parties.

d) RELATED PARTY DISCLOSURES:

(I) Key Management Personnel:

LArvindS. Khator Director

2. AshokS. Khator Director

3. Kailash S. Khator M. Director

(ii) Relative of Key Management Personnel

I.AkanshaA. Khator

2. Prafful A.Khator

 
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