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Notes to Accounts of Mewar Polytex Ltd.

Mar 31, 2015

1. Term Loan and Working Capital facilities:

First Hypothecation charge over entire fixed and current assets (Both present and future) of the company.

2. The Balances of debtors, creditors, loans and advances are subject to their confirmations and reconciliation if any.

In the opinion of the Board of Directors of the Company and to the best of their knowledge and belief all the current assets, loans and advances have a value on realization in the ordinary course of the business at least equal to the amount at which they are stated in the Balance Sheet.

3. (a) Sundry Creditors do not include any sum due to small scale and ancillary undertakings.

(b) The undertakings from which amounts were outstanding for more than 30 days do not include any small scale undertakings.

(c) The above information has been compiled in respect of parties, to the extent to which they could be identified as small scale and ancillary undertaking on the basis of information available with the Company.

4. Related party disclosure: Disclosures as required by Accounting Standard-18 "Related Party Disclosure" issued by the Institute of Chartered Accountants of India in respect of transactions for the year ended 31st March 2015 are as under:

The company has identified all the related parties having transactions during the year as per the details given below.

i. List of Related Parties

(a) Individuals and other persons exercising control or significant influence:

1. Shri B.H.Bapna (Managing Director)

2. Shri Vinod Bafna (Director)

3. Shri Sandeep Bapna (Director)

4. Shri Vijendra Bafna (Director's Brother)

5. Shri R.L.Mehta (Director)

6. Shri Dinesh Mohal lal Sanghvi (Director)

7. Shri K.J.Rathod (Director)

8. Shri Anik Shah (Director)

9. Smt. Shilpa Bapna (Director)

10. Shri Sumit Rathod (Director)

11. Shri Dinesh Kumar Jain (CFO)

12. Shri Niraj Khamesra (CS)

(b) Associate concerns in which any of the Directors or any of their relative is interested:

1. Sun Polytex Private Limited

2. Crescent Polytex Private Limited

3. Sisarma Plastics LLP

4. Anita Plastics Inc.

5. Venus Polytex Private Limited

6. Harmony Plastics Private Limited

7. Plasti Weave Industries LLP

8. Cedar Investments Private Limited

5. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.


Mar 31, 2014

Company Overview

Mewar Polytex Limited was originally incorporated in 1979 as private limited company and subsequently converted in to public limited company in 1994 is listed on Bombay Stock Exchange (BSE). The Company was promoted by Mr. B.H. Bapna an engineer from University of California, to manufacture light weight PP bags for packing minerals and chemical during a period when HDPE bags were predominately used. The company is now an ISO 9001:2008 certified export house. Company is having two manufacturing units one at Mewar Industrial Area Madri established in the year 1979 and second at village Nai established in the year 1994.Company has annual consolidated production capacity of3645 MT including lamination.

1. Term Loan and Working Capital facilities:

Exclusive charge over entire Plant and Machinery and fixed assets (both present and future) and equitable mortgage together with all building structure thereon of the company and personal guarantee of Mr. B. H. Bapna, Mr. Vinod Bafna and Mr. Sandeep Bapna.

2. The Balances of debtors, creditors, loans and advances are subject to their confirmations and reconciliation if any.

In the opinion of the Board of Directors of the Company and to the best of their knowledge and belief all the current assets, loans and advances have a value on realization in the ordinary course of the business at least equal to the amount at which they are stated in the Balance Sheet.

3. (a) Sundry Creditors do not include any sum due to small scale and ancillary undertakings.

(b) The undertakings from which amounts were outstanding for more than 30 days do not include any small scale undertakings.

(c) The above information has been compiled in respect of parties, to the extend to which they could be identified as small scale and ancillary undertaking on the basis of information available with the Company.

4. Related party disclosure: Disclosures as required by accounting Standard-18 “Related Party Disclosure” issued by the Institute of Chartered Accountants of India in respect of transactions for the year ended 31st March 2014 are as under:

The company has identified all the related parties having transactions during the year as per the details given below.

i. List ofRelated Parties

(a) Individuals and other persons exercising control or significant influence:

1. Mr. B. H. Bapna (Managing Director)

2. Mr. Vinod Bafna (Director)

3. Mr. Sandeep Bapna (Director)

4. Mr. Vijendra Bapna (Director''s Brother)

5. Mr. R. L. Mehta (Director)

6. Mr. Dinesh Mohal lal Sanghvi (Director)

7. Mr. K. J. Rathod (Director)

8. Mr. Anik Shah(Director)

9. Mrs. Shilpa Bapna (Director''s Wife)

(b) Associate concerns in which any of the Directors or any of their relative is interested:

1. Sun Polytex Private Limited

2. Crescent Polytex Private Limited

3. Sisarma Plastics LLP

4. Anita Plastics Inc.

5. Venus Polytex Private Limited

6. Harmony Plastics Private Limited

7. Plasti Weave Industries LLP

8. Cedar Investments Private Limited


Mar 31, 2013

1 Company Overview

Mewar Polytex Limited was originally incorporated in 1979 as private limited company and subsequently converted in to public limited company in 1994 is listed on Bombay Stock Exchange (BSE). The Company was promoted by Mr. B.H. Bapna an engineer from University of California, to manufacture light weight PP bags for packing minerals and chemicals during a period when HDPE bags were predominately used. The company is now an ISO 9001:2008 certified export house. Company is having two manufacturing units one at Mewar Industrial Area Madri established in the year 1979 and second at village Nai established in the year 1994. Company has annual consolidated production capacity of 3645 MT including lamination.

2. Term Loan and Working Capital facilities:

First Hypothecation charge over entire fixed and current assets (Both present and future) of the company.

3. The Balances of debtors, creditors, loans and advances are subject to their confirmations and reconciliation if any.

In the opinion of the Board of Directors of the Company and to the best of their knowledge and belief all the current assets, loans and advances have a value on realization in the ordinary course of the business at least equal to the amount at which they are stated in the Balance Sheet.

4. (a) Sundry Creditors do not include any sum due to small scale and ancillary undertakings.

(b) The undertakings from which amounts were outstanding for more than 30 days do not include any small scale undertakings.

(c) The above information has been compiled in respect of parties, to the extend to which they could be identified as small scale and ancillary undertaking on the basis of information available with the Company.

5. Related party disclosure: Disclosures as required by accounting Standard-18 "Related Party

Disclosure" issued by the Institute of Chartered Accountants of India in respect of transactions for the year ended 31 st March 2013 are as under:

The company has identified all the related parties having transactions during the year as per the details given below.

i. List of Related Parties

(a) Individuals and other persons exercising control or significant influence:

1. Mr. B.H.Bapna (Managing Director)

2. Mr. Vinod Bapna

3. Mr. Sandeep Bapna

4. Mr. Vij endra B apna

5. Mr.RL.Mehta

6. Mr. Dinesh Sanghvi

7. Mr.KJ.Rathod

8. Mr.AnikShah

9. Mrs. Shilpa Bapna

(b) Associate concerns in which any of the Directors or any of their relative is interested:

1. Sun Polytex Private Limited

2. Crescent Polytex Private Limited

3. Sisarma Plastics Private Limited

4. Anita Plastics Inc.

5. Venus Polytex Private Limited

6. Harmony Plastics Private Limited

7. Plasti Weave Industries LLP

8. Cedar Investments Private Limited

6. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.


Mar 31, 2012

1 Company Overview

Mewar Polytex Limited was originally incorporated in 1979 as private limited company and subsequently converted in to public limited company in 1994 is listed on Bombay Stock Exchange (BSE). The Company was promoted by Mr. B.H. Bapna an engineer from University of California, to manufacture light weight PP bags for packing minerals and chemicals during a period when HDPE bags were predominately used. The company is now an ISO 9001:2000 certified export house. Company is having two manufacturing units one at Mewar Industrial Area Madri established in the year 1979 and second at village Nai established in the year 1994. Company has annual consolidated production capacity of3645 MT including lamination.

2. Term Loan and Working Capital facilities:

First Hypothecation charge over entire fixed and current assets (Both present and future) of the company.

3. Contingent Liabilities not provided for:

31-03-2012 31-03-2011

Bill Discounted with Bank 127,41,509 NIL

4. The Balances of debtors, creditors, loans and advances are subject to their confirmations and reconciliation if any.

In the opinion of the Board of Directors of the Company and to the best of their knowledge and belief all the current assets, loans and advances have a value on realization in the ordinary course of the business at least equal to the amount at which they are stated in the Balance Sheet.

5. (a) Sundry creditors do not include any sum due to small scale and ancillary undertakings.

(b) The undertakings from which amounts were outstanding for more than 30 days do not include any small scale undertakings.

(c) The above information has been compiled in respect of parties, to the extend to which they could be identified as small scale and ancillary undertaking on the basis of information available with the Company.

6. Related party disclosure: Disclosures as required by accounting Standard-18 "Related Party Disclosure" issued by the Institute of Chartered Accountants of India in respect of transactions for the year ended 3 lil March 2012 are as under:

The company has identified all the related parties having transactions during the year as per the details given below.

i. List of Related Parties

(a) Individuals and other persons exercising control or significant influence:

1. Mr. B.H.Bapna (Managing Director)

2. Mr. Vinod Bapna

3. Mr. Sandeep Bapna

4. Mr. Vij endra B apna

5. Mr. R.L.Mehta

6. Mr. Dinesh Sanghvi

7. Mr. K.J.Rathod

8. Mr.AnikShah

9. Mrs. Shilpa Bapna

(b) Associate concerns in which any of the Directors or any of their relative is interested:

1. Sun Polytex Private Limited

2. Crescent Polytex Private Limited

3. Sisarma Plastics Private Limited

4. Anita Plastics Inc.

5. Venus Polytex Private Limited

6. Harmony Plastics Private Limited

7. Plasti Weave Industries

8. Cedar Investments Private Limited

7. The Revised Schedule VI has become effective from April 1, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.


Mar 31, 2010

1. Contingent Liabilities not provided for:

In addition to contingent liabilities reported by auditors in there Audit Report relating to some pending cases, company has following contingent liabilities not provided for:

31-03-2010 31-03-2009

Bill Discounted with Bank NIL 34,04,369

2. The Balances of debtors, creditors, loans and advances are subject to their confirmations and reconciliation if any.

3. In the opinion of the Board of Directors of the Company and to the best of their knowledge and belief all the current assets, loans and advances have a value on realization in the ordinary course of the business at least equal to the amount at which they are stated in the Balance Sheet.

4. (a) Sundry creditors do not include any sum due to small scale arid ancillary undertakings.

(b) The undertakings from which amounts were outstanding for more than 30 days do not include any small scale undertakings.

(c) The above information has been compiled in respect of parties, to the extend to which they could be identified as small scale and ancillary undertaking on the basis of information available with the Company.

5. Related party disclosure: Disclosures as required by accounting Standard-18 "Related Party Disclosure" issued by the Institute of Chartered Accountants of India in respect of transactions for the year ended 31st March 2010 are as under:

The company has identified all the related parties having transactions during the year as per the details given below.

i. List of Related Parties

(a) Individuals and other persons exercising control or significant influence:

1. Shree B.H.Bapna (Managing Director)

2. Shree Vinod Bapna

3. Shree Sandeep Bapna

4. Shree Vijendra Bapna

5. Shree R.L.Mehta

6. Shree M.V.Sanghvi

7. Shree K.J.Rathod

8. Shree Anik Shah

9. Smt. Mangla Bapna

(b) Associate concerns in which any of the Directors or any of their relative is interested:

1. Sun Polytex Private Limited

2. Crescent Polytex Private Limited

3. Sisarma Plastics Private Limited

4. Venus Polytex Private Limited

5. Harmony Plastics Private Limited

6. Maple Industries

7. Plasti Weave Industries

8.. Cedar Invesments Private Limited

 
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