Home  »  Company  »  Kushal Tradelink Ltd  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Kushal Tradelink Ltd.

Mar 31, 2015

1. Corporate Information

Kushal Tradelink Limited (KTL) is a Public Company domiciled in India incorporated under Companies Act, 1956. The company along with its WOS (Kushal Group) is engaged in the business of trading of various kinds of paper, paper waste and other merchandise.

Note 2

Contingent Liabilities and Commitments

(Rs in Lacs) Particulars For the year ended For the year ended 31 March, 2015 31 March, 2014

In respect of SBLCs issued in favour of WOS (Amount outstanding at the close of the year) 6590.73 1803.00

Total 6590.73 1803.00

In respect to the Demand raised by Income Tax Authority against which the company had filed an appeal b efore the higher authority for the A Y

Total 6590.73 1803.00

Related Party Transaction

As per the Accounting Standard 18, disclosures of transactions with related parties (As identified by the Management), as defined in Accounting Standard are given below:

a) Subsidiary Company Kushal Impex Pte. Ltd. Singapore

b) Associates with whom transactions done during the Year

1) Ashapura Paper Mills Pvt. Ltd.

c) Key Managerial Personnel

1) Sandeep Agrawal (CMD)

2) Mahendra Agrawal (WTD)

3) CA Vimal Shah (Chief Financial Officer)

d) Relatives of Key Managerial Personnel with whom transactions done during the Year

1) Manoj Agrawal

2) Sudha Agrawal

3) Tulsiram Agrawal

Note 3

Expenditure related to Corporate Social Responsibility as per Section 135 of the Companies Act, 2013 read with Schedule VII thereof :

Kushal Tradelink Limited has constituted the Corporate Social Responsibility Committee consisting of 3 Directors as member of committee.

During the Financial Year, as the part of the CSR activity, our company was planning to organize a health camp or a camp of any social cause of similar nature to help to raise awareness among the population. The Approximate budget of the camp came to Rs. 15-20 lacs.

However, the amount to be spent on CSR activities at the end of this financial year i.e. 2% of the average of the last three preceding years (FY 11-12, 12-13, 13-14) amounted to Rs. 10.05 Lacs. As the company fall short of the budget to organize the aforesaid activity, the board have postponed to organize the health camp till next year and have decided to make a provision for CSR for this financial year and spend the same altogether in the financial year 2015-16.

Hence, the company has not spent on the Corporate Social Responsibility in this financial year and instead made a provision for CSR.

Note 4

As per Accounting Standard 21 on "Consolidated Financial Statements" as specified in the Companies (Accounting Standard) Rules 2006 (as amended), the company has been presented consolidated financial statements separately.

Note 5

Previous year''s figure have been recast, regrouped and rearranged, wherever necessary to confirm to this year''s classification.


Mar 31, 2014

1. Corporate Information

Kushal Tradelink Limited (KTL) is a Public Company domiciled in India incorporated under Companies Act, 1956. The company along with its WOS (Kushal Group) is engaged in the business of trading of various kind of paper, paper waste and other merchandise.

2) The impairment loss is recognized whenever the carrying amount of an asset or its cash generation unit exceeds its recoverable amount. The recoverable amount is the greater of the asset''s net selling price and value in the uses which is determined based on the estimated future cash flow discounted to their present values. All impairment losses are recognized in the statement of Profit and Loss.

3) An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount and is recognised in the Statement of Profit and Loss.

Note 28 Contingent Liabilities and Commitments

(Rs in Lacs)

Particulars For the year ended For the year ended 31 March, 2014 31 March, 2013

In respect of SBLCs issued in favour of WOS (Amount outstanding at the close of the year) 1803.00 NIL

Total 1803.00 NIL

Note 29 Related Party Transaction

As per the Accounting Standard 18, disclosures of transactions with related parties (As identified by the Management), as defined in Accounting Standard are given below:

a) Subsidiary Company Kushal Impex Pte. Ltd. Singapore

b) Associates with whom transactions done during the Year

1) Ashapura Paper Mills Pvt. Ltd.

c) Key Managerial Personnel

1) Sandeep Agrawal (CMD)

2) Mahendra Agrawal (WTD)

3) CA Vimal Shah (Chief Financial Officer)

d) Relatives of Key Managerial Personnel with whom transactions done during the Year

1) Manoj Agrawal

2) Sudha Agrawal

3) Tulsiram Agrawal

Note 3

As per the Accounting Standard 21 on "Consolidated Financial Statements" as specified in the Companies (Accounting Standard) Rules 2006 (as amended), the company has presented consolidated financial statements separately.

Note 4

The Ministry of Corporate Affairs, Government of India vide its General Circular No: 2/2011 dated 8Th February, 2011 has granted general exemption to the Holding Companies from attaching balance sheet of subsidiary companies with the balance sheet of the Holding Company as per section 212(8) of the Companies Act, 1956 subject to fulfillment of certain conditions. Accordingly the Board of Directors of the company has passed the resolution giving consent for not attaching the balance sheet of the subsidiary company with that of the company.

Note 5

Previous year''s figure have been recast, regrouped and rearranged, wherever necessary to confirm to this year''s classification.

 
Subscribe now to get personal finance updates in your inbox!