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Notes to Accounts of Nutech Global Ltd.

Mar 31, 2015

NOTE- 1 "NUTECH GLOBAL LIMITED" is a Public Company domiciled in India and incorporated under the provision of the Companies Act, 2013. The Company is engaged in manufacturing of Fabrics and selling fabrics.

NOTE - 2 CONTINGENT LIABILITIES

Contingent Liabilities not provided for: - a. Bank guarantees given by company

* for import under concessional rate of duty to Customs: Rs. 2,50,000/- (Rs. 2,50,000/-)

* for EPCG License for Import of Capital Goods to Custom: Rs. 5,05,000/- (Rs. 5,05,000/-)

NOTE 3 - EARNING PER SHARE

As per accounting Standard -20"Earning per Share" issued by the Institute of Chartered Accountant of India, the particulars of EPS for equity Share holders are as below:

NOTE 4- RELATED PARTY DISCLOSURE :

The company is having following related parties as defined under AS-18 issued by ICAI.

1. Related Party Disclosures

A. List of related parties with whom transactions have taken place and relationships: Enterprises in which Directors are interested (Associates)

a. Trishul Textile Mills Private Limited

b. Golden Seam Textiles Private Limited

c. Shree Navchitra Properties Private Limited

d. M/s Narain Das Shyam Sunder

e. Navlok Exhibitors P Ltd.

f. Nutech Refractories Private Limited

Relative of Key Managerial Personnel (KMP)

a. Sh. Sanjeev Mukhia

b. Sh. S. S. Mukhija

Key Managerial Personnel (KMP)

a. Sh. Rajeev Mukhija - Managing Director

b. Smt. Radhika Mukhija- Whole-time Director

NOTE 5- RETIREMENT BENEFITS

(a) Company's contribution accruing during the year in respect of Provident Fund and Employee State Insurance Scheme has been charged to Profit & Loss Account.

(b) Short term and long term employee's benefit including Gratuity and Leave Encashment are recog- nized as an expense at the un-discounted amount in the profit and loss account of the year in which related service is rendered. Leave Encashment liability is provided on accrual basis as on 31st March of every year and paid in next following year.

The Disclosures with respect to Accounting Standard (AS -15) (Revised 2005) " Employee Benefits" are as under: -

A. Defined Contribution Plans

a. Employer's Contribution to Provident Fund

b. Employers Contribution to Employees' State Insurance

The Company has recognized the following amounts in Profit & Loss Account

As the company's significant business activity falls within a single primary business segment viz. "manufac- turing of Fabrics", the disclosure requirement of accounting Standard-17 "Segment reporting", issued by Institute of Chartered Accountants of India, is not applicable.

NOTE 6 - DUES TO MICRO, SMALL & MEDIUM ENTERPRISES

The Government of India has promulgated an act namely "The Micro, Small & Medium Enterprises Develop- ment Act 2006" which comes into force with effect from October,2 2006. As per The Act, the Company is required to identify the Micro & Small Enterprises & Pay them interest on over due beyond the specified period irrespective of the terms agreed with the enterprises. The Company has initiated the process of identification of such suppliers. In view of number of supplier & no receipt of critical inputs & response from several such potential parties, the liability of interest cannot be reliable estimates nor can required disclo- sure be made. Accounting in this regard will be carried out after process is complete and reliable estimate can be made. Since the Company is regular in making payments to all suppliers, the management does not anticipate any significant interest liability

NOTE 7 - PREVIOUS YEAR FIGURES

The figures for previous year have been re-grouped, re-arranged and re-classified wherever necessary to make them comparable with the current year's figure.


Mar 31, 2014

1. A. The Company has only one Class of Equity Shares having at par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share.

B. During the year ended 31 March 2014, the Company has not issued any shares.

* There is no expenditure incurred on employees who were in receipt of remuneration in the aggregate of not less than Rs. 24,00,000/- p.a. if employed through out the year and Rs. 2,00,000/- per month for a part of the year.

## Detailed working for Employee benefit schemes is shown in note no. 34

NOTE- 3 "NUTECH GLOBAL LIMITED" is a Public Company domiciled in India and incorporated under the provision of the Companies Act, 1956. The Company is engaged in manufacturing of Fabrics and selling fabrics.

NOTE - 4 CONTINGENT LIABILITIES

Contingent Liabilities not provided for: -

a. Bank guarantees given by company

* for import under concessional rate of duty to Customs: Rs. 2,50,000/- (Rs. 2,50,000/-)

* for EPCG License for Import of Capital Goods to Custom: Rs. 5,05,000/- (Rs. 5,05,000/-)

* to bank against loan to third party Rs. 6,71,00,000/- (Rs. 6,71,00,000/-)

NOTE 5 - RETIREMENT BENEFITS

(a) Company''s contribution accruing during the year in respect of Provident Fund and Employee State Insurance Scheme has been charged to Profit & Loss Account.

(b) Company''s Textile Division was took the Leave Encashment policy in previous year from Life Insur- ance Corporation of India. The obligation for leave encashment is valued on actuarial made by the Life Insurance Corporation of India under employee''s scheme. Any shortfall or excess based on such valuation is accounted for.

(c) Liability in respect of employee''s gratuity is valued on actuarial basis made by the Life Insurance Corporation of India under employees'' group gratuity scheme. Any shortfall or excess based on such valuation is accounted for.

As the company''s significant business activity falls within a single primary business segment viz. "manufac- turing of Fabrics", the disclosure requirement of accounting Standard-17 "Segment reporting", issued by Institute of Chartered Accountants of India, is not applicable.

NOTE 6 - DUES TO MICRO, SMALL & MEDIUM ENTERPRISES

The Government of India has promulgated an act namely "The Micro, Small & Medium Enterprises Develop- ment Act 2006" which comes into force with effect from October,2 2006. As per The Act, the Company is required to identify the Micro & Small Enterprises & Pay them interest on over due beyond the specified period irrespective of the terms agreed with the enterprises. The Company has initiated the process of identification of such suppliers. In view of number of supplier & no receipt of critical inputs & response from several such potential parties, the liability of interest cannot be reliable estimates nor can required disclo- sure be made. Accounting in this regard will be carried out after process is complete and reliable estimate can be made. Since the Company is regular in making payments to all suppliers, the management does not anticipate any significant interest liability

NOTE 7 - PREVIOUS YEAR FIGURES

The figures for previous year have been re-grouped, re-arranged and re-classified wherever necessary to make them comparable with the current year''s figure.


Mar 31, 2013

NOTE- 1 "NUTECH GLOBAL LIMITED" is a Public Company domiciled in India and incorporated under the provision of the Companies Act, 1956. The Company is engaged in manufacturing of Fabrics and selling fabrics.

NOTE - 2 CONTINGENT LIABILITIES

Contingent Liabilities not provided for: -

a. Bank guarantees given by company

- for import under concessional rate of duty to Customs: Rs. 2,50,000/- (Rs. 2,50,000/-)

- for EPCG License for Import of Capital Goods to Custom: Rs. 5,05,000/- (Rs. 2,90,000/-)

- to bank against loan to third party Rs. 6,71,00,000/- (Rs. 6,71,00,000/-)

NOTE 3- RELATED PARTY DISCLOSURE:

The company is having following related parties as defined under AS-18 issued by ICAI.

1. Related Party Disclosures

A. List of related parties with whom transactions have taken place and relationships:

Enterprises in which Directors are interested (Associates)

1. Trishul Textile Mills Private Limited

2. Golden Seam Textiles Private Limited

3. Shree Navchitra Properties Private Limited

4. M/s Narain Das Shyam Sunder

5. Navlok Exhibitors P. Ltd.

6. Nutech Refractories Private Limited

Relative of Key Managerial Personnel (KMP)

1. Sh. Sanjeev Mukhia

2. Sh. S. S. Mukhija

Key Managerial Personnel (KMP)

1. Sh. Rajeev Mukhija - Managing Director

2. Smt. Radhika Mukhija- Whole-time Director

NOTE 4 - RETIREMENT BENEFITS

(a) Company''s contribution accruing during the year in respect of Provident Fund and Employee State Insurance Scheme has been charged to Profit & Loss Account. .

(b) Company''s Textile Division was took the Leave Encashment policy in previous year from Life Insurance Corporation of India. The obligation for leave encashment is valued on actuarial made by the Life Insurance Corporation of India under employee''s scheme. Any shortfall or excess based on such valuation is accounted for.

(c) Liability in respect of employee''s gratuity is valued on actuarial basis made by the Life Insurance Corporation of India under employees'' group gratuity scheme. Any shortfall or excess based on such valuation is accounted for.

The Disclosures with respect to Accounting Standard (AS -15) (Revised 2005)" Employee Benefits" are as under: -

B. Defined Benefit Plans

Gratuity (Non-Funded)

Gratuity has been provided at actual (un-discounted) manner, based on the 15 days salary for every completed year of service.

NOTE 5 SEGMENT REPORTING

As the company''s significant business activity falls within a single primary business segment viz. "manufacturing of Fabrics", the disclosure requirement of accounting Standard-17 "Segment reporting", issued by Institute of Chartered Accountants of India, is not applicable.

NOTE 6 - DUES TO MICRO, SMALL & MEDIUM ENTERPRISES

The Government of India has promulgated an act namely "The Micro, Small & Medium Enterprises Development Act 2006" which comes into force with effect from October,2 2006. As per The Act, the Company is required to identify the Micro & Small Enterprises & Pay them interest on overdue beyond the specified period irrespective of the terms agreed with the enterprises. The Company has initiated the process of identification of such suppliers. In view of number of supplier & no receipt of critical inputs & response from several such potential parties, the liability of interest cannot be reliable estimates nor can required disclosure be made. Accounting in this regard will be carried out after process is complete and reliable estimate can be made. Since the Company is regular in making payments to all suppliers, the management does not anticipate any significant interest liability

NOTE 7 - PREVIOUS YEAR FIGURES

The figures for previous year have been re-grouped, re-arranged, re-grouped and re-classified wherever necessary to make them comparable with the current year''s figure.


Mar 31, 2012

NOTE- 1 "NUTECH GLOBAL LIMITED" is a Public Company domiciled in India and incorporated under the provision of the Companies Act, 1956. The Company is engaged in manufacturing of Fabrics and selling fabrics.

NOTE-2 CONTINGENT LIABILITIES

Contingent Liabilities not provided for:

a. Bank guarantees given by company

- for import under concessional rate of duty to Customs: Rs. 2,50,000/- (Rs. 2,50,000/-)

- to bank against loan to third party Rs. 6,71,00,000/-

b. Outstanding Letter of Credit: Nil (Rs. Nil)

c. Disputed Income Tax: Rs. 84665/- (Rs. 84665/-)

NOTE 3- RELATED PARTY DISCLOSURE:

The company is having following related parties as defined under AS-18 issued by ICAI.

1. Related Party Disclosures

A. List of related parties with whom transactions have taken place and relationships: Enterprises in which Directors are interested (Associates)

1. Trishul Textile Mills Private Limited

2. Golden Seam Textiles Private Limited

3. Shree Navchitra Properties Private Limited

4. M/s Narain Das Shyam Sunder

5. Navlok Exhibitors P. Ltd.

6. Nutech Refractories Private Limited Relative of Key Managerial Personnel (KMP)

1. Sh. Sanjeev Mukhia

2. Sh. S. S. Mukhija

Key Managerial Personnel (KMP)

1. Sh. Rajeev Mukhija - Managing Director

2. Smt. Radhika Mukhija- Whole-time Director

B. Related Party Transactions

NOTE 4 - RETIREMENT BENEFITS

(a) Company's contribution accruing during the year in respect of Provident Fund and Employee State Insurance Scheme has been charged to Profit & Loss Account.

(b) Company's Textile Division was took the Leave Encashment policy in previous year from Life Insurance Corporation of India. The obligation for leave encashment is valued on actuarial made by the Life Insurance Corporation of India under employee's scheme. Any shortfall or excess based on such valuation is accounted for.

(c) Liability in respect of employee's gratuity is valued on actuarial basis made by the Life Insurance Corporation of India under employees' group gratuity scheme. Any shortfall or excess based on such valuation is accounted for.

The Disclosures with respect to Accounting Standard (AS -15) (Revised 2005) " Employee Benefits" are as under: -

A. Defined Contribution Plans

a. Employer's Contribution to Provident Fund

b. Employers Contribution to Employees' State Insurance

The Company has recognized the following amounts in Profit & Loss Account.

B. Defined Benefit Plans Gratuity (Non-Funded)

Gratuity has been provided at actual (un-discounted) manner, based on the 15 days salary for every completed year of service.

Amount Recognized in the Balance Sheet

C. Leave Encashment (Non- Funded)

Leave Encashment has been provided at actual (un-discounted) manner, based on the leave standing credit of the employee as at the Balance Sheet date.

Amount Recognized in the Balance Sheet

NOTE 5 -SEGMENT REPORTING

As the company's significant business activity falls within a single primary business segment viz. "manufacturing of Fabrics", the disclosure requirement of accounting Standard - 17 "Segment reporting", issued by Institute of Chartered Accountants of India, is not applicable.

NOTE 6 - DUES TO MICRO, SMALL & MEDIUM ENTERPRISES

The Government of India has promulgated an act namely "The Micro, Small & Medium Enterprises Development Act 2006" which comes into force with effect from October,2 2006. As per The Act, the Company is required to identify the Micro & Small Enterprises & Pay them interest on over due beyond the specified period irrespective of the terms agreed with the enterprises. The Company has initiated the process of identification of such suppliers. In view of number of supplier & no receipt of critical inputs & response from several such potential parties, the liability of interest cannot be reliable estimates nor can required disclosure be made. Accounting in this regard will be carried out after process is complete and reliable estimate can be made. Since the Company is regular in making payments to all suppliers, the management does not anticipate any significant interest liability

NOTE 7 - PREVIOUS YEAR FIGURES

Till the year ended 31 March 2011, the Company was using pre-revised schedule VI to the Companies Act, 1956, for preparation and presentation of its financial statements. During the year ended 31 March 2012, the revised schedule VI notified under the companies act 1956, has become applicable to the company. The company has reclassified previous year figures to conform to this year's classification. The adoption of revised schedule VI does not impact recognitions measurement principles followed for preparation of financial statements. However, it significantly impacts presentation and disclosures made in the financial statements, particularly presentation of Balance Sheet.


Mar 31, 2010

1. The balances of sundry debtors, creditors and loans and advances are subject to confirmation.

2. In the opinion of Board of directors the Current Assets, Loans and advances have a value on realiza- tion in the ordinary course of business at least equal to the amount at which they are stated except as expressly stated otherwise and all known liabilities have been provided in the accounts.

3. The company during the year has charged depreciation on Plant & Machinery and Other Assets which are used under double shift, at the rate specified for single shift under schedule XIV of the Companies Act, 1956. In the judgment of the management, single shift depreciation rates as specified in Schedule XIV of the Companies Act, 1956 are more appropriate rates of depreciation to be charged based on the remaining useful life of the assets. Consequently, due to change in the rates of depreciation the loss during the year is understated and the fixed assets are overstated by Rs. 24.44 Lacs.

4. Related Party Disclosures

A. List of related parties with whom transactions have taken place and relationships: Enterprises in which Directors are interested (Associates)

1. Trishul Textile Mills Private Limited

2. Golden Seam Textiles Private Limited

3. Shree Navchitra Properties Private Limited

4. Narain Das Shyam Sunder

5. Navlok Exhibitors P. Ltd.

6. Navrang Refractories Private Limited

7. Nutech Refractories Private Limited Relative of Key Managerial Personnel (KMP)

1. Sh. Sanjeev Mukhia

2. Sh. S. S. Mukhija

Key Managerial Personnel (KMP)

1. Sh. Rajeev Mukhija - Managing Director

2. Smt. Radhika Mukhija- Whole-time Director

5. On the basis of information available to company there is no outstanding under the head "Total out- standing dues of Micro, Small and Medium Enterprises.

6. As the companys significant business activity falls within a single primary business segment viz. "manufacturing of Fabrics", the disclosure requirement of accounting Standard-17 Segment report- ing", issued by Institute of Chartered Accountants of India, is not applicable.

7. The Disclosures with respect to Accounting Standard (AS -15) (Revised 2005) " Employee Benefits" are as under: -

A. Defined Contribution Plans

a. Employers Contribution to Provident Fund

b. Employers Contribution to Employees State Insurance

8. Contingent Liabilities not provided for: -

a. Bank guarantees given by company

- for import under concessional rate of duty to Customs: Rs. 2,50,000/- (Rs. 2.50,000/-)

- to bank against loan to third party Rs. 5,61,00,000/- (Rs. 5,61,00,000)

b. Outstanding Letter of Credit: Nil (Rs. Nil)

c. Disputed Income Tax: Rs. 84665/- (Rs. 84665/-)

9. Additional information pursuant to the provisions of paragraph 3 & 4 of Part II of Schedule VI of the Companies Act, 1956 to the extent applicable to the company are as under (As certified by and classified by the management): -

10. Figures for the previous year has been regrouped and rearranged wherever considered necessary.

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