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Notes to Accounts of Navkar Builders Ltd.

Mar 31, 2016

1. Terms and Rights attached to equity Shares

The company has only one class of equity shares having a par value of Rs 10 each. Each holder of equity shares is entitled to one vote per share. The Company declares and pay dividend proposed by the Board of Directors is subject to approval of the Shareholding in the ensuing Annual

2. The company has not issued any Right/ Bonus shares during any preceding year.

3 The company has issued 43,63,300 Equity Shares during the FY 2013-14.

4. Term Loan from Bank

Term Loans from Union Bank of India of Rs. 200.37 lac (467.52 lac) of which Rs. Nil (200.37 lac) has been classified as long term borrowing and Rs. 200.37 lac (267.16 lac) has been classified as Current Maturities of long term borrowing and are secured, by way of Hypothecation of Plant & Machineries situated at Plants of the Company, specific immovable properties of Company and Personal Guarantee of two directors, one shareholder and Corporate Guarantee of Navkar Fiscal Services Pvt. Ltd. to the extent of Rs. 91.00 Lacs.

Principal repayable in equal monthly/quarterly installments.

Interest is payable on Monthly Basis. Applicable Rate of Interest is B.R. 3.50% p.a. i.e. at Present 13.15% p.a.

5 Vehicle Loans from Bank

hicle Loans of Rs. 14.31 lac (19.53 lac) Vehicle Loans of which Rs. 8.56 Lacs (PY Rs. 14.31 Lacs) are classified as Secured Loans From Bank and Rs. 5.74 Lacs (PY Rs. 5.22 Lacs) are classified as Current Maturities of Long Term Borrowings are secured against respective vehicles under the Hire Purchase Contract .

Principal repayable in monthly equated Installments.

Applicable Rate of Interest is 12% p.a.

Nature of Security

Cash Credit with Union Bank of India are secured by hypothecation of present and future stock and book debts of company,

6 Personal Guarantee of two directors, one shareholder and Corporate Guarantee of Associate companies in tune of sanction limits.

Interest is payable on Monthly Basis. Applicable Rate of Interest is B.R. 3.50% p.a. i.e. at Present 13.15% p.a.

Under the Micro, Small & Medium enterprise development act, 2006, certain disclosures are required to be made relating to Micro & small enterprise. The company is in the process of compiling relevant information from its supplier about their

7 coverage under the said act. Since the relevant information is not readily available, no disclosures have been made in the accounts. However, in view of the management, the impact of interest, if any, that may be payable in accordance with the provision of the this act is not expected to be material. This has been relied upon by the auditors.

8. Related Party Transactions:

As per Accounting Standard - 18 - ''Related Party Disclosures'', as notified by the Rules, the disclosures of transactions with the related parties as defined in the accounting standard are given below:

A. Related parties with whom transactions have taken place during the year

a) Entities where key management personnel (KMP)/relatives of key management personnel (RKMP) have significant influence -

Parshva Alluminium Co. Pvt Ltd.,

Yashnanad Engineers & Contractors,

Wildwood Resorts & Realties Pvt. Ltd Yash Associates

b) Key management personnel

Dakshesh R. Shah,

Samir C. Patel

c) Entities have significant influence -

Navkar Fiscal Services Pvt. Ltd.

Efficent Tie-up Pvt. Ltd.

Note:

a) All the above balances of loans are payable on demand.

b) No loans have been granted by the Company to any person for the purpose of investing in the shares of Navkar Builders Limited.

9. Employee Benefits (AS - 15) (Note pending from the actuary valuer will be received by end of day)

a) Defined Contribution plan

Amount of Rs. 3,71,250/- is recognized as an expense and included in Employees Benefit expenses in Note 22 to statement of profit and loss.

10. a) In opinion of the directors, contingent liability not provided is Rs. Nil. (Nil)

b) Estimated amount of contracts remaining to be executed on capital account and not provided for: Rs. Nil (Nil).

11. Figures have been rounded off to the nearest rupee and previous year''s figures have been regrouped, rearranged and reclassified wherever necessary to confirm with current year''s figures.


Mar 31, 2015

1. Terms and Rights attached to equity Shares

The company has only one class of equity shares having a par value of Rs 10 each. Each holder of equity shares is entitled to one vote per share. The Company declares and pay dividend proposed by the Board of Directors is subject to approval of the Shareholding in the ensuing Annual General Meeting.

2. The company has not issued any Right/ Bonus shares during any preceding year

3. Term Loan from Bank

Term Loans from Union Bank of India of Rs. 467.52 lac (678.12 lac) of which Rs. 200.37 lac (373.54 lac) has been as long term borrowing and Rs. 267.16 lac (304.58 lac) as current maturities of long term borrowing. are sucured by way of Hypothication of Plant & Machineries situated at Plants of the Company, Specific Immovable properties of company and others and Personal Guarantee of two directors, one shareholder and Corporate Guarantee of Associate Principal repayble in equal monthly/quarterly installments.

Interest is payable on Monthly Basis. Applicable Rate of Interest is B.R. 5% p.a. i.e. at Present 15.00% p.a.

4. Loan from Banks

Loans from Various Banks of Rs. Nil (216.45 lac) are secured by way of mortgage on the Plant & Machineries which are situated at Plants of the company and Personal Gaurantee of Directors.

Principal repayble in equal monthly installments.

Applicable rate of interest is within the range of 10.25% - 12% p.a.

5. Vehicle Loans from Banks

Vehcile loans of Rs. 14.31 Lac (20.68) are secured against respective vehicles under the Hire Purchase Contract. Principal repayble in equal monthly installments.

Applicable rate of interest is 12% p.a.

11.1 Capital work in progress includes advances for capital goods Rs. 93,25,776/-

Pursuant to the enactment of Companies Act 2013, the company has applied the estimated useful lives as specified in Schedule II, except in respect of certain assets as

6. disclosed in Accounting Policy on Depreciation, Amortisation and Depletion. Accordingly the unamortised carrying value is being depreciated / amortised over the revised / remaining useful lives.

In accordance with the Schedule II of the Companies Act, 2013, the company has reassessed the estimated useful life of assets. The reassessed useful life is in the line

7. with existing useful life of the assets used by the company for the purpose of the depreciation. Due to this reassessment, the depreciation expense for the year ended 31.03.2015 is higher by Rs. 38.90 Lacs.

8. Related Party Transactions:

As per Accounting Standard - 18- 'Related Party Disclosures', as notified by the Rules, the disclosures of transactions with the related parties as defined in the accounting standard are given below:

A. Related parties with whom transactions have taken place during the year

a) Entities where key management personnel (KMP)/relatives of key management personnel (RKMP) have significant influence -

Parshva Alluminium Co. Pvt Ltd.

Yashnand Engineers & Contractors Parshva Texchem (I) Pvt. Ltd Wild Wood Resorts & Realties Pvt. Ltd Innovative Infraplus India Limited

b) Key management personnel

Dakshesh R. Shah,

Samir C. Patel

c) Entities have significant influence -

Navkar Fiscal Services Pvt. Ltd.

Efficent Tie-up Pvt. Ltd.

a) All the above balances of loans are payable on demand.

b) No loans have been granted by the Company to any person for the purpose of investing in the shares of Navkar Builders Limited.

9. a) In opinion of the directors, contingent liability not provided is Rs. Nil. (Nil)

b) Estimated amount of contracts remaining to be executed on capital account and not provided for: Rs. Nil (Nil).

10. Figures have been rounded off to the nearest rupee and previous year's figures have been regrouped, rearranged and reclassified wherever necessary to confirm with current year's figures.


Mar 31, 2014

1. Related Party Transactions:

As per Accounting Standard - 18 (AS 18) - ''Related Party Disclosures'', as notified by the Rules, the disclosures of transactions with the related parties as defined in the accounting standard are given below:

A. Related parties with whom transactions have taken place during the year

- a) Entities where key management personnel (KMP)/relatives of key management personnel (RKMP) have significant influence -

Parshva Alluminium Co. Pvt Ltd., Yashnanad Engineers & Contractors, Parshwa Texchem (I) P. Ltd, Wild wood resorts & realties Pvt. Ltd Anar Project Ltd

b) Associate Company

Navkar Fiscal Services Private Limited

c) Key management personnel

Dakshesh R, Shah, Samir C. Patel

Note:

a) All the above balances of loans are including accrued interest and are payable on demand.

b) No loans have been granted by the Company to any person for the purpose of investing in the shares of Navkar Builders Limited.

2. In opinion of the directors, contingent liability not provided is Rs. Nil. (Previous Year Rs. Nil)

3. Estimated amount of contracts remaining to be executed on capital account and not provided for: Rs. Nil (Nil)

4. Figures have been rounded off to the nearest rupee and previous year''s figures have been regrouped, rearranged and reclassified wherever necessary N to confirm with current year''s figures.

Note:

a) All the above balances of loans are including accrued interest and are payable on demand.

b) No loans have been granted by the Company to any person for the purpose of investing in the shares of Navkar Builders Limited.

5. In opinion of the directors, contingent liability not provided is Rs. Nil. (Previous Year Rs. Nil)

6. Estimated amount of contracts remaining to be executed on capital account and not provided for: Rs. Nil (Nil).

7. Figures have been rounded off to the nearest rupee and previous year''s figures have been regrouped, rearranged and reclassified wherever necessary '' to confirm with current year''s figures.


Mar 31, 2013

1. Related Party Transactions:

As per Accounting Standard - 18 (AS 18) – ''Related Party Disclosures'', as notified by the Rules, the disclosures of transactions with the related parties as defined in the accounting standard are given below:

A. Related parties with whom transactions have taken place during the year

a) Entities where key management personnel (KMP)/relatives of key management personnel (RKMP) have significant influence – Parshva Alluminium Co. Pvt Ltd., Yashnanad Engineers & Contractors

b) Associate Company

Navkar Fiscal Services Private Limited

c) Key management personnel Dakshesh R. Shah, Samir C. Patel

Note:

a) All the above balances of loans are including accrued interest and are payable on demand.

b) No loans have been granted by the Company to any person for the purpose of investing in the shares of Navkar Builders Limited.

2. In opinion of the directors, contingent liability not provided is Rs. Nil. (Previous Year Rs. Nil)

3. Estimated amount of contracts remaining to be executed on capital account and not provided for: Rs. Nil (Nil).

4. Figures have been rounded off to the nearest rupee and previous year''s figures have been regrouped, rearranged and reclassified wherever necessary to confirm with current year''s figures.


Mar 31, 2012

Terms and Rights attached to equity Shares

1.1

The company has only one class of equity shares having a par value of Rs 10 each. Each holder of equity shares is entitled to one vote per share. The Company declares and pay dividend proposed by the Board of Directors is subject to approval of the Shareholding in the ensuing Annual General meeting.

1.2 The company has not issued any Right/ Bonus shares during any preceding year

1.3 The Company has received Share application money of Rs 1,29,22,500 for 12,10,000 Equity Shares and 10,50,000 Preferential Warrants during the year

The Company has converted 0 (17,77,400) convertible warrants into equity

1.4 shares during the year .

Contingent assets are not recognized.

5. Related Party Transactions:

As per Accounting Standard - 18 (AS 18) — 'Related Party Disclosures', as notified by the Rules, the disclosures of transactions with the related parties as defined in the accounting standard are given below:

A. Related parties with whom transactions have taken place during the year

a) Entities where key management personnel (KMP)/relatives of key management personnel (RKMP) have significant influence —

Parshva Alluminium Co. Pvt Ltd., Yashnanad Engineers & Contractors

b) Key management personnel

Dakshesh Shah, Samir B. Patel, Ullas Shah

Note:

a) All the above balances of loans are including accrued interest and are payable on demand.

b) No loans have been granted by the Company to any person for the purpose of investing in the shares of Navkar Builders Limited.

6. During the year, there were imports of capital goods and also company had made remittance in foreign currency. Details of remittance is given below.

7. In opinion of the directors, contingent liability not provided is Rs. Nil. (Previous Year Rs. Nil)

8. Estimated amount of contracts remaining to be executed on capital account and not provided for: Rs. Nil (Nil).

9. Figures have been rounded off to the nearest rupee and previous year's figures have been regrouped, rearranged and reclassified wherever necessary to confirm with current year's figures.


Mar 31, 2011

1. The company has converted 17,77,400 convertible warrants into equity shares during the year. Earning per share has been adjusted on account of increases in Equity Share Capital due to issue of above said shares during the financial year.

2. In opinion of the directors, contingent liability not provided is Rs. Nil. (Previous Year Rs. Nil)

3. Estimated amount of contracts remaining to be executed on capital account and not provided for (Net of advances): Rs. Nil (Nil).

4. Disclosure U/s. 22 of Micro, Small and Medium Enterprises Development Act, 2006:

a) Principal Amount remaining unpaid to suppliers as on March 31, 2011: NIL

b) Amount of Interest due and remaining unpaid as on March 31, 2011: NIL

c) Amount of Interest paid U/s.16: NIL

d) Amount of Interest due and payable for the period of delay in making payment (which have been paid but beyond the appointed day during the year) but without adding the interest specified under this Act: NIL

e) Amount of Interest accrued and remaining unpaid as on March 31,2011: NIL

5. Directors Remuneration Paid for the period is Rs.25,92,000 (Rs.22,68,000)

6. Related Party Transactions:

As per Accounting Standard - 18 (AS 18) – 'Related Party Disclosures', as notified by the Rules, the disclosures of transactions with the related parties as defined in the accounting standard are given below:

A. Related parties with whom transactions have taken place during the year

a) Entities where key management personnel (KMP)/relatives of key management personnel (RKMP) have significant influence –

Parshva Aluminum Co. Pvt. Ltd., Parshva Texchem (India) Pvt. Ltd., Gurjar Granth Ratna Karyalaya, Gurjar Finance, Yashnanad Engineers & Contractors

b) Associate Company

Navkar Fiscal Services private Limited

c) Key management personnel Dakshesh Shah, Samir Patel, Ullas Shah

d) Relatives of key management personnel

Chandubhai B. Patel, Hemishbhai C. Patel, Manubhai G. Shah

Note:

a) All the above balances of loans are including accrued interest and are payable on demand.

b) No loans have been granted by the Company to any person for the purpose of investing in the shares of Navkar Builders Limited.

11. Additional information pursuant to the provisions of paragraphs 3, 4B, 4C, 4D of part II of the Schedule VI of the Companies Act, 1956.

b) Additional information pursuant to the provisions of paragraphs 3, 4B, 4C, 4D of part II of the Schedule VI of the Companies Act, 1956.

Note:

It is not practicable to furnish quantitative information in view of large number of items, which differ in size and nature, each being less than 10% in value of the total raw materials consumed.

c) During the year, there were no imports of raw materials, stores and spares or capital goods and there was no remittance in foreign currency on account of dividends. Also, there was no earning in foreign currency.

7. The figures are not comparable as current year figure is of twelve month and as of previous year is fifteen months.

8. Prior years amount have been reclassified wherever necessary to conform with current year presentation. Figures in the brackets are in respect of the previous year.


Jun 30, 2010

1. The Company has issued 17,77,400 convertible warrants on preferential basis at a price of Rs. 10 each and partly paid by Rs. 2.5 each as per SEBI (DIP) guidelines. The warrant holder has to pay Rs. 7.5/- per warrant at the time of allotment of warrant. The warrant will be converted at the option of the allottees into equity shares of Rs. 10/- each at par at any time within 18 months from the date of allotment, in case of option is not exercise within a period of 18 months from the date of allotment, Rs. 2.5 paid on the date of allotment shall be forfeited.

2. In opinion of the directors, contingent liability not provided is Rs. Nil. (Previous Year Rs. Nil)

3. Estimated amount of contracts remaining to be executed on capital account and not provided for (Net of advances): Rs. Nil (Nil).

4. Disclosure U/s. 22 of Micro, Small and Medium Enterprises Development Act, 2006:

a) Principal Amount remaining unpaid to suppliers as on June 30, 2010: NIL

b) Amount of Interest due and remaining unpaid as on June 30, 2010: NIL

c) Amount of Interest paid U/s.16: NIL

d) Amount of Interest due and payable for the period of delay in making payment (which have been paid but beyond the appointed day during the year) but without adding the interest specified under this Act: NIL

e) Amount of Interest accrued and remaining unpaid as on June 30,2010: NIL

5. Directors Remuneration Paid during the year is Rs. 22, 68,000 (Rs. Nil)

6. Related Party Transactions:

As per Accounting Standard - 18 (AS 18) – Related Party Disclosures, as notified by the Rules, the disclosures of transactions with the related parties as defined in the accounting standard are given below:

A. Related parties with whom transactions have taken place during the year

a) Entities where key management personnel (KMP)/relatives of key management personnel (RKMP) have significant influence –

Parshva Alluminium Co. Pvt Ltd., Parshva Texchem (India) Pvt Ltd., Gurjar Granth Ratna Karyalaya, Gurjar Finance, Yashnanad Engineers & Contractors

b) Associate Company

Navkar Fiscal Services private Limited

c) Key management personnel Dakshesh Shah, Samir Patel, Ullas Shah

d) Relatives of key management personnel

Chandubhai B. Patel, Hemishbhai C. Patel, Manubhai G. Shah

7. Figures have been rounded off to the nearest rupee and previous years

Figures have been regrouped, rearranged and reclassified wherever necessary to confirm with current years figures.

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