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Notes to Accounts of Kohinoor Techno Engineers Ltd.

Mar 31, 2014

The Company has obtained the Overdraft Facilities of Rs. 160.00 Lacs from Bank of Baroda secured by equitable mortagage of Industrial Property land and buliding situated at Ward No 15-A, City Survey No 32 & 33, R S No 70, Hissa No 1 Paiki, T P NO 4 (Ashwanikumar - Navagam) FP No 120 & 121 , B/H A S Motors Taswadi, A K Road,, Surat in the name of M/S Kohinoor Techno Machines Limited and further secured by way of personal gurantee of directors and corporate guarantee of M/s Kohinoor Techno Machines Limited. As per the Sanction the Rate of Interest is 13.25% per annum. (Previous year Balance Rs. NIL)

Balance with bank includes the current account with Punjab Nationhal bank having balance of Rs. 2235/- (Previous year Rs. 2235/-) for which the company has not produced the Bank Statement and informed that it is non-operative since the long period of time

1. Contingent Liability Provided for Rs Nil

2. Expenditure in Foreign Currency by Import (I) USD 13,020/- (ii) SGD 4020/- (Singapore Dollars) (Previous Year USD 1283/-)

3. Income in Foreign Currency : Rs. Nil

4. Estimate amount of Contract remaining to be executed on Capital Account and not provided for Rs. Nil (Previous Year Rs. Nil)

5. The management have not received any intimation form suppliers regarding their status under the Micro Small and Medium Enterprise Development Act 2006 and hence disclosure if any relating to amount unpaid as at the year and together with interest paid / payable as required under the said Act have no been given. Further there are no specific claims from suppliers under the Micro, Small and Medium Enterprise Development Act 2006 during the year

6. The balance outstanding at year end and squared off during the year in respect of Receivables, Loan and Advances, Payables, Unsecured Loan, Deposits are subject to confirmation from the respective parties

7. In Opinion of the Board, the aggregate value of the Current Assets, Loan and Advances, Receivables are approcimately of value stated, if realised in the ordinary course of business

8. The figure is rounded off to the nearest rupees, wherever necessary.

The Company has identified two reportable segments viz. manufacturing of machineries of diamonds and related services and trading of diamonds. Segments has been identified and reportes taking into account of nature of business activity , the differing risks and returns and internal business reporting systems. The accounting policy adopted for segment reporting are in line with the accounting policy of the Company with following additional policies for segment reporting

(a) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of segment. Revenue and Expenses which relate to enterprise as a whole are not allocable to a segment on regular basis have been disclose as "Unallocable"

(b) Segment assets and segment liabilities represent assets and liabilities in respective segment Assets and liabilities that can not be allocated to segment on reasonable basis have been disclosed as "Unallocable"


Mar 31, 2013

1 Contingent Liability Provided for Rs. Nil

2 Expenditure in Foreign Currency Rs. 71119/- USD 1283

3 Income in Foreign Currency : Rs. Nil

4 Estimate amount of Contract remaining to be executed on Capital Account and not provided for Rs. Nil (Previous Year Rs. Nil)

5 The management have not received any intimation form suppliers regarding their status under the Micro Small and Medium Enterprise Development Act 2006 and hence disclosure if any relating to amount unpaid as at the year and together with interest paid / payable as required under the said Act have not been given Further there are no specific claims from suppliers under the Micro, Small and Medium Enterprise Development Act 2006 during the year

6 The balance outstanding at year end and squared off during the year in respect of Sundry Debtors, Loan and Advances, Sundry Creditors, Unsecured Loan are subject to confirmation from the respective parties

7 In Opinion of the Board, the aggregate value of the Current Assets, Loan and Advances are approximately of value stated, if realized in the ordinary course of business

8.1 The Company has identified two reportable segments viz. manufacturing of machineries of diamonds and related services and trading of diamonds. Segments has been identified and reports taking into account of nature of business activity , the differing risks and returns and internal business reporting systems. The accounting policy adopted for segment reporting are in line with the accounting policy of the Company with following additional policies for segment reporting

(a) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of segment. Revenue and Expenses which relate to enterprise as a whole are not allocable to a segment on regular basis have been disclose as "Unallowable"

(b) Segment assets and segment liabilities represent assets and liabilities in respective segment Assets and liabilities that can not be allocated to segment on reasonable basis have been disclosed as "Unallowable"


Mar 31, 2012

1 Contingent Liability Provided for Rs. Nil

2 Expenditure in Foreign Currency Rs. Nil

3 Income in Foreign Currency: Rs. Nil

4 Estimate amount of Contract remaining to be executed on Capital Account and not provided for Rs. Nil (Previous Year Rs. Nil)

5 The management have not received any intimation form suppliers regarding their status under the Micro' Small and Medium Enterprise Development Act 2006 and hence disclosure if any relating to amounts unpaid as at the year and together with interest paid / payable as required under the said Act have not been given. Further there are no specific claims from suppliers under the Micro' Small and Medium Enterprise Development Act 2006 during the year

6 The balance outstanding at year end and squared off during the year in respect of Sundry Debtors' Loan and Advances' Sundry Creditors' Unsecured Loan are subject to confirmation from the respective parties

7 In Opinion of the Board' the aggregate value of the Current Assets' Loan and Advances are approximately of value stated' if realized in the ordinary course of business

8 RELATED PARTY DISCLOSURE

9 The Company has identified two reportable segments viz. manufacturing of machineries of diamonds and related services and trading of diamonds. Segments have been identified and reports taking into account of nature of business activity' the differing risks and returns and internal business reporting systems. The accounting policy adopted for segment reporting is in line with the accounting policy of the Company with following additional policies for segment reporting

(a) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of segment. Revenue and Expenses which relate to enterprise as a whole are not allocable to a segment on regular basis have been disclose as "Unallocable"

(b) Segment assets and segment liabilities represent assets and liabilities in respective segment Assets and liabilities that cannot be allocated to segment on reasonable basis have been disclosed as "Unallocable"


Mar 31, 2011

1. Contingent Liability : Rs. Nil (Previous Year : Rs. Nil)

2. The management have not received any intimation from Suppliers regarding their status under the Micro, Small and Medium Enterprise Development Act 2006 and hence disclosure if any relating to amounts unpaid as at the year end together with interest paid/ payable as required under the said Act have not been given, Further there are no specific claims from suppliers under the Micro, Small and Medium Enterprise Development Act 2006 during the year

3. Estimate amount of contract remaining to be executed on Capital account and not provided for Rs. Nil (Previous year figure Rs. Nil)

4. The Balance of Unsecured Loans, Sundry Debtors, Loans & Advances and Current Liabilities are subject to confirmation

5. Loan & advances includes Unrealized Stock invest worth Rs. 14.57 Lacs and other advances Rs. 194.35 Lacs which are outstanding balance for long period of time and no provision has been made in the books of accounts by the company.

6. Sundry debtors' accounts includes Rs. 0.82 Lacs is long overdue outstanding balances, the company has not made doubtful debts provision..

7. In opinion of the Board, the aggregate value of current assets, loan and advances are approximately of the value stated, if realized in the ordinary course of business

8. Previous year's figure have been reworked, regrouped and rearranged, wherever considered necessary.

9. The amount in financial statements is rounded off to the nearest rupee, wherever considered necessary.

10. The company has entered into transactions with the Related Party during the year under consideration. The transactions with related party have been disclosed as under.

11. Payment to Whole time Directors has been made of Rs. 645,000/- (PY Rs. 225000) during the year under audit. Remuneration Committee has approved Remuneration paid to directors at their meeting held on dated 20.05.2010 pursuant to provisions of section II 1 (A) of Part II of Schedule XIII of the Companies Act, 1956.

12. Licensed Capacity: #

Installed Capacity: #

Actual Production: 212 Machines

** In view of the innumerable sizes/ number of raw material and components it is not possible to give quantitative details.

# Management has certified that the Licensed Capacity and Installed Capacity are not applicable and we have relied upon, being the technical matter.

 
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