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.
Mar 31, 2010
(1) The Balance of Unsecured Loans, Sundry Debtors, Loans & Advances
and Current Liabilities are subject to confirmation.
(2) Contingent liability provided for Rs Nil
(3) 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.
(4) Estimate amount of contract remaining to be executed on Capital
account and not provided for Rs Nil (Previous year figure Rs Nil)
(5) Income tax expenses comprise current tax (i.e amount of tax for the
year determined in accordance with the Income Tax Law) and deferred tax
charge or credit (reflecting the tax effects of timing difference
between profit offered for income taxes and profit as per financial
statements). The deferred tax charge or credit and corresponding
deferred tax liabilities or assets are measured using the tax rates and
tax law that have been enacted or substantively enacted by the balance
sheet date.
(6) Previous years figure have been reworked, regrouped and rearranged,
wherever considered necessary.
(7) The amount in financial statements is rounded off to the nearest
rupee, wherever applicable.
(8) Unrealized Stock invest worth Rs 14.57 Lacs is included in Loans
and Advances which is outstanding balance for long period of time and
no provision has been made in the books of accounts by the company
(9) In spite of long overdue outstanding of loans and advances and
sundry debtors accounts, no doubtful debts provision is made by the
company
(10) 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.
(11) As stipulated in AS Ã 28, the company assessed potential
generation of economic benefits from its business units and is of the
view that assets employed in continuing business are capable of
generating adequate return over their useful lives in the usual course
of business, there is no indication to the contrary and accordingly the
management is of the view that no impairment provisions is called for
in these accounts.
(12) The company has entered into transaction with the Related Party
during the year under consideration. The transactions with related
party have been disclosed as under.
(13) Payment to Whole time Directors has been made of Rs 225,000/- (PY
Rs Nil) during the year under audit.
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