Home  »  Company  »  Rudra Global Infra P  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Rudra Global Infra Products Ltd.

Mar 31, 2018

1. Corporate Information

Rudra Global Infra Products Limited (Formerly known as “M.D. Inducto Cast Limited”) (“The Company”) was originally incorporated as Private limited Company on 16th September 2010 and having duly passed the necessary resolution on 11th May, 2015 in terms of Section 14 and other applicable provisions of the Companies Act, 2013, the constitution of company was changed to M.D. INDUCTO CAST LIMITED as per certificate dated 20th May, 2015.

The shares of the company were listed on Bombay stock exchange (SME) Platform as on 16th July 2015. During the year, the company has migrated from SME Platform to BSE Main Board w.e.f. 16th November, 2017, and also changed name to Rudra Global Infra Products Limited from M.D. Inducto cast Limited w.e.f. 26 th December, 2017.

The company is engaged in the business of manufacturing and trading the Billets and TMT Bars and also trading Rudra Cement.

The company has one wholly owned subsidiary, namely Rudra Aerospace & Defense Private Limited. The subsidiary company is in its business plans implementation stage.

2. In the opinion of the Board of Directors, Current Assets, Loans & Advances have a value on realization at least equal to the amount at which they are stated in the Balance Sheet. Adequate provision have been made in the accounts for all the known.

3. Previous year figures have been regrouped/ rearranged wherever necessary so as to make them comparable with current year figures.

4. The balance of sundry creditors, sundry debtors, loans & advances are unsecured considered goods and are subject to confirmation.

As per records of the Company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares.

Terms/rights, preferences and restrictions attached to each class of shares Equity shares:

The Company has only one class of equity shares having par value of Rs.10 per share. Each holder of equity share is entitled to one vote per share. The dividend proposed by the board of directors is subject to approval of the share holders at the ensuing Annual General Meeting.

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company after payment of all liabilities. The distribution will be in proportion to the number of equity shares held by the shareholders.

For the financial year ended March 31, 2018, the company has proposed dividend of Rs. 1 per equity share subject to approval of the shareholders in Annual General Meeting.

5. Details of securities for various borrowing:

a) Secured by an exclusive first charge by way of hypothecation of specific plant and machinery and all other specific movables, both present and future, purchased out of the loan and hypothecation of movables (save & except book debts) including movable plant and machinery, both present and future. Also by Equitable mortgage of Company’s immovable properties located at Nesada Taluka- Sihor, Bhavnagar with all buildings and structures and plant and machinery thereon with loans and also by personal guarantee of Directors.

b) Long Term Finance from HDFC Bank Limited is secured by Hypothecation Charge on two Trucks.

Term Loans of Rs. 33.50 Lakh is Repayable in Equal Monthly Instalments Of Rs. 1,11,570/- including interest commencing from 12th January, 2013. There is no overdue interest as at 31.03.2018.

c) Long Term Finance from SIDBI is secured by Hypothecation Charge on Windmill.

Term Loans of Rs. 900.00 Lakh is Repayable in Equal Monthly Instalments of Rs. 11,50,000/- including interest commencing from 30th March 2017. There is no overdue interest as at 31.03.2018.

d) Long Term Finance from AXIS BANK is secured by Hypothecation Charge on Two Truck.

Term Loans of Rs. 30.00 Lakh is Repayable in Equal Monthly Instalments of Rs. 78,432/- including interest commencing from 20th February, 2014 and ending on December, 2018. There is no overdue interest as at 31.03.2018

e) Long Term Finance from HDFC Bank is Secured by Hypothecation Charge on ESCORT CRANE 14-T.

Term Loans of Rs. 12.00 Lakh is Repayable in Equal Monthly Instalments of Rs. 31,250/- including interest.

f) Long Term Finance from MAGMA FIN CORP LIMITED is secured by Hypothecation Charge on LOADER BACKHOE. Term Loans of Rs. 18.00 Lakh is Repayable in Equal Monthly Instalments of Rs. 45,400/- including interest.

g) Long Term Finance from AXIS BANK is secured by Hypothecation Charge on Crane

Term Loans of Rs. 12.78 Lakh is Repayable in Equal Monthly Instalments of Rs. 32,746/- including interest commencing from 5th June, 2014 and ending on May, 2018. There is no overdue interest as at 31.03.2018

h) Long Term Finance from ICICI BANK is secured by Hypothecation Charge on Car (Mercedes Benz).

Term Loans of Rs. 65.00 Lakh is Repayable in Equal Monthly Instalments of Rs. 1,37,000/- including interest commencing from 10th December, 2014 and ending on October, 2019. There is no overdue interest as at 31.03.2018

i) Long Term Finance from ICICI BANK is secured by Equitable Mortgage on Non - Residential Premises at Ahmedabad.

Term Loans of Rs. 59.07 Lakh is Repayable in Equal Monthly Instalments of Rs. 87,329/- including interest commencing from June, 2014 and ending on May, 2024. There is no overdue interest as at 31.03.2018

j) Long Term Finance from Punjab National Bank is secured by hypothecation charge on Windmills and personal guarantee of Directors. The term loan of Rs. 3.15 Crores is repayable in 60 equal monthly instalments of Rs. 5,25,000/-including interest commencing from March, 2015 and ending on April, 2020. There is no overdue interest as at 31.03.2018.

k) Long Term Finance from HDFC Bank Limited is secured by Hypothecation Charge on Car -Toyota Innova Car.

Term Loans of Rs. 21.00 Lakh is repayable in Equal Monthly Instalments of Rs. 64,290/- including interest commencing from November, 2017. There is no overdue interest as at 31.03.2018.

l) Long Term Finance from SIDBI is secured by Hypothecation Charge on Windmill.

Term Loans of Rs. 900.00 Lakh is repayable in Principal Monthly Instalments of Rs. 11,50,000/- starting from August, 2018.

m) Long Term Finance from ICICI BANK is secured by Equitable Mortgage on vehicle- TATA Tiago.

Term Loans of Rs. 5.96 Lakh is repayable in Equal Monthly Instalments of Rs. 18,815/- including interest commencing from November, 2017 and ending on May, 2024. There is no overdue interest as at 31.03.2018.

a) Details of security:

Working Capital facility from banks are secured by

a) Primary Security- first charge on present and future receivables and inventories of the Company.

b) Collateral Security- Hypothecation of Fixed Assets, Fixed deposits lien marked to banks and Immovable properties - belonging to promoter & others.

c) Personal guarantees of directors

Note: 1.1 RELATED PARTY DISCLOUSER

Transactions with Related parties as specified under Accounting Standard -18 issued by the Institute of Chartered

Accountant of India-

Key management personnel on board

Mr. Ashok Kumar Gupta - Chairman & Director

Mr. Nikhil Gupta - Managing Director

Mrs. Shamarani Gupta - Woman Director

Mr. Himanshu Desai - Independent Director

Mr. Vikram Shah - Independent Director

Mr. Vinod Jangind - Independent Director

Mr. Arvind Jejurikar - Chief Financial Officer

Mr. Vimal Dattani - Company Secretary

Relative of Key Managerial personnel

Mr. Sahil Gupta - Brother of Managing Director

Mrs. Shrishti Gupta - Wife of Managing Director

Enterprises over which Key Managerial Personnel exercises significant influence

Harikrishna Steel Corporation - As Partnership firm in which Director is partner

Chintamani Oxygen - As Partnership firm in which Director is partner

M D Jewels - As Partnership firm in which Director is partner

M D Steel - Enterprises over which Director’s relative exercise significant influence

Note: 1. 2 CORPORATE SOCIAL RESPONSIBILTY EXPEN SES

The Company has constituted a CSR committee as required under Section 135 of the Act, together with relevant rules as prescribed in Companies (Corporate Social Responsibility Policy) Rules, 2014 (‘CSR rules’). During the year, based on these rules the amount was to be spent for CSR activities was Rs. 17.28 Lakh and Rs.15.81 Lakhs for F.Y: 2016-17, whereas the Company has spend an amount of Rs. 13.52 Lakhs and Rs.2.77 Lakhs for FY: 2017-18 and FY: 2016-17 respectively towards Corporate Social Responsibility. Management and CSR committee are in the process of finding better avenues of CSR Expenditure to be incurred in near future.

Note: 1.3 CONTINGENT LIABILITIES

The Company has given Bank Guarantees in favour of M/s. Harikrishna Steels Corporation, in which the Directors are interested for Working Capital Finance of Rs. 88.00 Cr. availed by them from Punjab National Bank, Bhavnagar Branch. The outstanding amounts of such finance availed by Harikrishna Steel Corporation as at 31.03.2018 is Rs.88.00 Cr.

Note: 1. 4 GRATUITY

The company has a defined benefit gratuity plan its employees. Under the gratuity plan, every employee who has completed at least five years of service gets a gratuity on departure at 15 days of last drawn salary for each employed year of service.

The company has made provision for gratuity payments for the year. The following tables summarize the components of net benefit expenses recognised in the statement of profit and loss, the funded status and amount recognised in the balance sheet.

Statement of Profit and Loss

Net employee benefit expenses recognised in the employee cost

Note: 1. 5 SEGMENT REPORTING

Segment Reporting: As the Company’s business activity primarily falls within a single business segment i.e. MS billets and MS TMT Bars, there are no additional disclosures to be provided under Accounting Standard 17-”Segment Reporting”. The management considers that the various goods and services provided by the Company constitutes single business segment, since the risk and rewards from these services are not different from one another.


Mar 31, 2016

1. in the opinion of the Board of Directors, Current Assets, Loans & Advances have a value on realization at least equal to the amount at which they are stated in the balance Sheet. Adequate provision have been made in the accounts for all the known.

2. Previous year figures have been regrouped/rearranged wherever necessary so as to make them comparable with current year figures.

3. The balance of sundry creditors, sundry debtors, loans & advances are unsecured considered goods and are subject to confirmation.

4.. Additional Information as required

5. Details of Security:

6. Secured by an exclusive first charge by way of hypothecation of specific plant and machinery and all other specific movables, both present and future, purchased out of the lean and hypothecation of movables (save & except book debts) including movable plant and machinery, both present and future. Also by Equitable mortgage of Company''s immovable properties located at Nesada Taluka Sihor, Bhavnagar with ail buildings and structures and plant and machinery thereon on pari passu basis with loans and also by personal guarantee of Directors.

7. Long Term Finance from HDFC flank Limited Is secured by hypothecation Charge on two Trucks.

Term Loans of Rs. 33.50 Lacs Is Repayable in Equal Monthly installments Of Rs, 1,11,570/- including interest commencing from 12th January, 2013 and ending on December 2015. There is no overdue interest as at 31,03,2016.

8. Long Term Finance from I GO Ban k is Secured by hypothecation Charge On Car (Skoda). Term Loans of Rs. 22,90 Lacs is Repayable in Equal Monthly Installments Of Rs. 72,675/- including interest commencing from 2nd January 2013 and ending on December, 2015. There is no overdue interest as at 31,03.2016

9. Long Term Finance from AXIS bank is Secured by Hypothecation Charge on LOADER. Term Loans of Rs. 30.00 Lacs is Repayable in Equal Monthly Installments Of Rs. 78,432/- including interest commencing from 20th February, 2014 and ending on December 2018. There is no overdue interest as at 31,03,2016

10. Long Term Finance from HDFC Bank and is Secured by Hypothecation Charge On ESCORT CRANE 14-T. Term Loans of Rs. 12.00 Lacs is Repayable in Equal Monthly Installments Of Rs. 31,250/- including interest commencing from 22nd May 2013 and ending on April, 2017. There is no overdue interest as at 31.03.2016

11. Long-term Finance from MAGMA FIN CORP LIMITED is Secured by Hypothecation Charge on LOADED BACKHOE,

Term Loans of Rs. 13.00 Lacs is Repayable In Equal Monthly installments Of Rs. 45,400/- including interest commencing from 1st December, 2013 and ending on October, 2017. There Is no overdue interest as at 31.03.2016

12. Long Term Finance from AXES BAN K is secured by Hypothecation charge on Crane Term Loans of Rs. 12.7S90 Lacs is Repayable In Equal Monthly Installments of Rs. 32,746/- including interest commencing from 5th June, 2014 and ending on May, 201S. There is no overdue interest as at 31.03.20IS

13. Long Term Finance from ICICI BANK is secured by Hypothecation Charge on Car (Mercedes Ben*},

Term Loans of RS- 6S.OO Lacs Is Repayable in Equal Monthly Installments of Rs. 1,37,000/- including interest commencing from 10th December, 2014 and ending on October, 2019- There is no overdue interest as at 31.03,2016

14. Long Term Finance from ICICI BANK is secured by Equitable Mortgage on Non - Residential Premises at Ahmedabad-

Term Loans of Rs. S9,07 Lacs is Repayable In Equal Monthly Installments of Rs. 87,329/- including interest. commencing from June, 2014 and ending on May, 2024. There is no overdue interest as at 31.03.2016

15. Long Term finance from Punjab National Bank is secured by hypothecation charge on Windmills and personal guarantee of Directors. The term loan of Rs, 3-15 Crores is repayable in 60 equal monthly installments of Rs, 5,25,000/-including interest. commencing from March, 2015 and ending on April, 2020. There is no overdue interest as at 31-03.2016

Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X