Home  »  Company  »  M M Forgings Ltd.  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of M M Forgings Ltd.

Mar 31, 2015

1 Corporate information

The Company is engaged in the manufacture of Steel Forgings . The plants for manufacture are located at Singampunari-Pasumpon Muthuramalingam District, Viralimalai-Pudukkottai District and Karainaithangal Village- Kanchipuram District, all within the state of Tamil Nadu. The company has its Wind Farm at Panakudi Village- Tirunelveli District and at Meenakshipuram, Theni District.

2 Terms of Security / Repayment

All loans secured by the charge over Fixed Assets of the Company except the lands at Singampunari / Viralimalai

3 Additional information to the financial statements

3.1 Contingent liabilities and commitments (to the extent not provided for)

3.2 Contrinenget Liabilities - Foreign Bills Discounted with Bank 1,560.48 1,990.26

4 Disclosures required under Section 22 of the Micro,

Small and Medium Enterprises Development Act, 2006 NIL NIL

5 Disclosure as per Clause 32 of the Listing Agreements with the Stock Exchanges

5.1 Loans and advances in the nature of loans given to subsidiaries,

associates and others and investment in shares of the Company by such parties: NIL NIL

6 Claims against the Company not acknowledged as debts

The Company has received claim from Commercial Taxes Department - Demanding a sum of Rs. 196.64 lakhs, on the ground that forgings falls under automobile components.

In matters of similar nature, Sales Tax Appellate Tribunal has already deleted the demand by the department. Hence no provision is required in this regard. The Company has already paid a sum of Rs. 116.38 lakhs against the same, which is treated as advance refundable


Mar 31, 2014

1. Contingent liabilities and commitments (to the extent not provided for)

1.1 Contrinenget Liabilities - Foreign Bills Discounted with Bank 1,990.26 1,362.07

Note 28 Disclosures required under Section 22 of the Micro,

Small and Medium Enterprises Development Act, 2006 NIL NIL

Note 2. Disclosure as per Clause 32 of the Listing Agreements with the Stock Exchanges

2.1 Loans and advances in the nature of loans given to subsidiaries,

associates and others and investment in shares of the Company by such parties:NIL NIL

2.2 The Directors of the Company are Directors/Partners of the following concerns:

3. - Claims against the Company not acknowledged as debts

The Company has received claim from Commercial Taxes Department - Demanding a sum of Rs. 196.64 lakhs, on the ground that forgings falls under automobile components.

In matters of similar nature, Sales Tax Appellate Tribunal has already deleted the demand by the department. Hence no provision is required in this regard. The Company has already paid a sum of Rs. 116.38 lakhs against the same, which is treated as advance refundable.


Mar 31, 2013

1 Corporate information

The Company is engaged in the manufacture of Steel Forgings . The plants for manufacture are located at Singampunari-Pasumpon Muthuramalingam District, Viralimalai-Pudukkottai District and Karainaithangal Village- Kanchipuram District, all within the state of Tamil Nadu. The Company has its Wind Farm at Panakudi Village- Tirunelveli District and at Meenakshipuram, Theni District.

2.1 Details of terms of repayment for the other long-term borrowings and security provided in respect of the secured other long-term borrowings:

3.1 Contingent liabilities and commitments (to the extent not provided for)

3.1.1 Contrinenget Liabilities - Foreign Bills Discounted with Bank 1,362.07 1,120.32

3.2 Transaction with related persons

The company has purchased power from Coromandel Electric Company Ltd. to the tune of Rs. 502.30 lakhs. By means of this, the Company has substantially saved power cost by eliminating running of Diesel Generating sets.

3.3 - Claims against the Company not acknowledged as debts

The Company has received claim from Commercial Taxes Department - Demanding a sum of Rs. 196.64 lakhs, on the ground that forgings falls under automobile components.

In matters of similar nature, Sales Tax Appellate Tribunal has already deleted the demand by the department. Hence no provision is required in this regard. The Company has already paid a sum of Rs. 116.38 lakhs against the same, which is treated as advance refundable


Mar 31, 2012

1 Corporate information

The Company is engaged in the manufacture of Steel Forgings . The plants for manufacture are located at Singampunari-Pasumpon Muthuramalingam District, Viralimalai-Pudukkottai District and Karainaithangal Village- Kanchipuram District, all within the state of Tamil Nadu. The company has its Wind Farm at Panakudi Village- Tirunelveli District and at Meenakshipuram, Theni District.

(2) Aggregate number and class of shares allotted as fully paid up pursuant to contract(s) without payment being received in cash, bonus shares and shares bought back for the period of 5 years immediately preceding the Balance Sheet date.

Note: Long-term loans and advances - No dues from Directors, Officers of the Company, Firms in which any Director is a partner or any Private Limited Companies in which any Director is a Director

Of the above, the balances that meet the definition of Cash and cash equivalents as per AS 3 - Cash Flow Statement is Rs 92.69 Lakhs. (As at 31st March 2011Rs44.50 Lakhs)

Note: Balances with banks include deposits amounting to Rs49.01 Lakhs (As at 31 March, 2012) which have an original maturity of more than 12 months. (As at 31st March 2011- Rs 77.84 Lakhs)

Note: Short-term loans and advances - No amount is due from any Directors, Other Officers of the Company, Firms in which any Director is a partner, Private Companies in which any Director is a Director

Note 3 Additional information to the financial statements

3.1 Contingent liabilities and commitments (to the extent not provided for)

3.1.1 Contingent Liabilities - Foreign Bills Discounted with Bank 1,120.32 744.61

4.1 - Claims against the Company not acknowledged as debts

The Company has received claim from Commercial Taxes Department - Demanding a sum of Rs 196.64 lakhs, on the ground that forgings falls under automobile components.

In matters of similar nature, Sales Tax Appellate Tribunal has already deleted the demand by the department. Hence no provision is required in this regard. The Company has already paid a sum of Rs 116.38 lakhs against the same, which is treated as advance refundable


Mar 31, 2010

AS AT 31 MARCH 2010

A. Contingent Liabilities (Rs) (RS)

a. Letter of Guarantee - Nil

b. Letters of Credit - Nil

c. Export Bills Discounted 4,79,25,308 10,07,72,325

B. No amount is due to any small scale industries outstanding for more than 30 days, except items which are in dispute.

C. Related Part Disclosures

1. List of Parties where control exists Subsidiary Company Srivatsa Electric & Electronic Limited

% of holding 100%

2. Other Related Parties with whom no transactions have taken place during the year. The Directors of the Company are Directors / Partners of the following concerns:

 
Subscribe now to get personal finance updates in your inbox!