Mar 31, 2015
RIGHTS, PREFERENCES AND RESTRICTIONS ATTACHED TO SHARES Equity Shares :
The Company has one class of Equity Shares having a par value of Rs
10/- each. Each shareholder is entitled to one vote per share . The
dividend proposed by the Board of Directors is subject to the approval
of the shareholders in the ensuing Annual General Meeting, except in
case of interim dividend . In the event of liquidation of the Company,
the equity shareholders will be entitled to receive any of the
remaining assets of the company after distribution of all preferential
amounts, in proportion to their shareholding.
* First charge by way of hypothecation of movable assets including
plant and machinery/equipments etc. acquired/to be acquired under the
project/scheme and also secured by way of personal guarantee of
Managing Director of the Company. The loan assistance to the extent of
Rs.100 Lacs is covred under CGTMSE
* Secured by first charge by way of hypothecation of Inventories, Book
debts and collateral security by way of equitable mortgage of factory
land & building & hypothecation of specified Plant & Machineries &
other miscellaneous fixed assets of the company at Faridabad unit &
second charge by way of equitable mortgage of factory Land & building &
hypothecation of specified Plant & Machineries & other miscellaneous
fixed assets at Greater Noida unit and also secured by way of personal
guarantee of Managing Director and other Director of the company.
* As certified by the management on which auditors have placed reliance
NOTE 1. Some of the Sundry Debtors, Advances including Deposits and
Current Liabilities are subject to confirmation/ reconciliation.
NOTE 2. Advances (Note-18) include amounts of Rs.551,487
(Rs.551,487/-) paid against demand raised by Sales Tax Authority which
the company is contesting. The above payments will be charged to Profit
& Loss Account on the decision by Appellate Authority.
NOTE 3. Profit/Loss on sale of raw materials, fuel and stores & spares
etc stand adjusted in their consumption Accounts.
NOTE 4. The company has taken Office premises and go down under a
cancellable operating lease. The lease is usually renewed by mutual
consent on mutually agreeable terms. Total rental expenses under such
lease Rs.2,912,951/-(Rs.2,760,000).
(Disclosed in the statement of Profit & Loss as contribution to
Provident and other Funds)
b) The Company operators post retirement defined benefit plan for
retirement gratuity which is funded.
c) Details of the post retirement gratuity plans & obligations are as
follows :
NOTE 5. - Pursuant to the notification of Schedule - II of the
Companies Act, 2013 by the Ministry of Corporate Affairs effective
01-04-2014, the company has revised/reassessed the remaining useful
lives in accordance with the Schedule and has accounted for higher
depreciation charge of Rs.8,359,199/- in the financial results for the
year ended 31-03-2015. Further charge of Rs.2,232,990/- (net of
deferred tax) has been adjusted against retained earnings) in terms of
transitional provision in respect of assets whose remaining useful
lives have expired on or before 31-03-2014.
NOTE 6. Related Party Disclosures under Accounting Standard (AS) - 18
a) List of Related Parties (As identified by the Management)
i) Enterprises owned or significantly influenced by key management
personnel or their relatives :- Orient Syntex (Prop. APM Industries
Limited), Essvee Fiscal Pvt. Ltd., Rajgarhia Leasing & Financial
Services Pvt. Ltd., Faridabad Paper Mills Ltd. RKR Foundation, Sanjay
Rajgarhia & Son (HUF).
Note : In respect of above parties there is no provision for doubtful
debts as on 31.03.2015 and no amount has been written off or written
back during the year in respect of debts due from/to them.
NOTE 7. As per Accounting Standard (AS)-17, "Segment Reporting" the
Company's business segment is packaging. As this is the only segment no
separate disclosure of segment wise information is made.
NOTE 8. Value of Sales, Opening stock & closing stock of Finished &
Traded Goods.
NOTE 9. There are no delays in payments to Micro and Small Enterprises
as required to be disclosed under the Micro, Small and Medium
Enterprises Development Act, 2006 (MSMED Act, 2006). The information
regarding Micro and Small enterprises has been determined to the extent
such parties have been identified on the basis of information available
with the Company. Further, no interest during the year has been paid or
payable under the terms of MSMED Act, 2006 :-
FOB value of export
NOTE 10. Figures of Previous Year have been regrouped re-arranged
wherever found necessary. Figures in brackets above are in respect
of previous year.
Mar 31, 2014
(Rupees)
NOTE 1. CONTINGENT LIABILITIES & COMMITMENT As at As at
(To the extent not provided for) 31.03.2014 31.3.2013
Contingent Liabilities
a) Interest on Local Area Development Tax
recovery 183,000 183,000
of which is stayed by Supreme Court of India
b) ESIC demand excluding interest paid under
protest 309,298 309,298
Rs.154,649 (Rs.154,649) being contested in
appeal
c) Letter of credit outstanding 19,185,908 18,195,725
d) Disputed Income Tax 190,387 161,602
NOTE 2. Some of the Sundry Debtors, Advances including Deposits and
Current Liabilities are subject to confirmation/ reconciliation.
NOTE 3. Advances (Note-18) include amounts of Rs.551,487
(Rs.488,900/-) paid against demand raised by Sales Tax Authority which
the company is contesting. The above payments will be charged to Profit
& Loss Account on the decision by Appellate Authority.
NOTE 4. Profit/Loss on sale of raw materials, fuel and stores & spares
etc stand adjusted in their consumption Accounts.
NOTE 5. The company has taken Office premises and godown under a
cancellable operating lease. The lease is usually renewed by mutual
consent on mutually agreeable terms. Total rental expenses under such
lease Rs.2,760,000/- (Rs.1,693,352).
NOTE 6. Related Party Disclosures under Accounting Standard (AS)-18
a) List of Related Parties (As identified by the Management)
i) Enterprises owned or significantly influenced by key management
personnel or their relatives :- Orient Syntex (Prop. APM Industries
Limited), Essvee Fiscal Pvt. Ltd., Rajgarhia Leasing & Financial
Services Pvt. Ltd., Faridabad Paper Mills Ltd. RKR Foundation, Sanjay
Rajgarhia & Son (HUF).
ii) Key Management Personnel and their Relatives :- Directors-Shri
Sanjay Rajgarhia, Shri R. K. Rajgarhia, Relatives - Smt. Pooja
Rajgarhia.
b) Transactions with Related Parties :
Note : In respect of above parties there is no provision for doubtful
debts as on 31.03.2014 and no amount has been written off or written
back during the year in respect of debts due from/to them.
NOTE 7. As per Accounting Standard (AS)-17, "Segment Reporting" the
Company''s business segment is packaging. As this is the only segment no
separate disclosure of segment wise information is made.
NOTE 8. There are no delays in payments to Micro and Small Enterprises
as required to be disclosed under the Micro, Small and Medium
Enterprises Development Act, 2006 (MSMED Act, 2006). The information
regarding Micro and Small enterprises has been determined to the extent
such parties have been identified on the basis of information available
with the Company. Further, no interest during the year has been paid or
payable under the terms of MSMED Act, 2006 :-
NOTE 9. Figures of Previous Year have been regrouped re-arranged
wherever found necessary. Figures in brackets above are in respect of
previous year.
Mar 31, 2013
NOTE 1. CONTINGENT LIABILITIES & COMMITMENT
As at As at
(To the extent not provided for) 31.03.2013 31.03.2012
{Contingent Liabilities
a) Interest on Local Area
Development Tax recovery 183,000 183,000
of which is stayed by Supreme
Court of India
b) ESIC demand excluding interest
paid under protest 309,298 309,298
Rs.154,649 lacs (Rs.154,649) being
contested in appeal
c) Letter of credit outstanding 18,195,725 28,242,711
d) Disputed Income Tax 161,602
Commitments
a) Estimated amount of outstanding capital commitments - 15,130,174 not
provided for
b) Custom Duty Payable on raw materials in Transit - 1,272,946
NOTE 2 Some of the Sundry Debtors, Advances including Deposits and
Current Liabilities are subject to confirmation/ reconciliation.
NOTE 3 Advances (Note-17) include amounts of Rs.488,900 (Rs.418,100/-)
paid against demand raised by Sales Tax Authority which the company is
contesting. The above payments will be charged to Profit & Loss Account
on the decision by Appellate Authority.
NOTE 4 Profit/Loss on sale of raw materials, fuel and stores & spares
etc stand adjusted in their consumption Accounts.
NOTE 5 The company has taken Office premises and godown under a
cancellable operating lease. The lease is usually renewed by mutual
consent on mutually agreeable terms. Total rental expenses under such
lease Rs.1,693,352 (Rs.36,000).
NOTE 6 During the year due to fire in the factory finished goods of
Rs.4,377,989 were destroyed and fixed assets were extensively
damaged/destroyed for which the company lodged claim with the Insurance
Company which is being assessed by the Surveyours. The adjustment in
the Insurance Claims Receivable (Note 17) at Rs. 95,39,399/- will be
made when the claim is settled by the Insurance Company.
NOTE 7 Related Party Disclosures under Accounting Standard (AS) - 18
a) List of Related Parties (As identified by the Management)
i) Enterprises owned or significantly influenced by key management
personnel or their relatives :- Orient Syntex (Prop. APM Industries
Limited), Essvee Fiscal Pvt. Ltd., Rajgarhia Leasing & Financial
Services Pvt. Ltd., Faridabad Paper Mills Ltd. RKR Foundation, Sanjay
Rajgarhia & Son (HUF).
ii) Key Management Personnel and their Relatives :- Directors-Shri
Sanjay Rajgarhia, Shri R. K. Rajgarhia, Relatives - Smt. Pooja
Rajgarhia
Note: In respect of above parties there is no provision for doubtful
debts as on 31.03.2013 and no amount has been written off or written
back during the year in respect of debts due from/to them.
NOTE 8 As per Accounting Standard (AS)-17, "Segment Reproting" the
Company''s business segment is packaging. As this is the only segment no
separate disclosure of segment wise information is made.
NOTE 9 There are no delays in payments to Micro and Small Enterprises
as required to be disclosed under the Micro, Small and Medium
Enterprises Development Act, 2006 (MSMED Act, 2006). The information
regarding Micro and Small enterprises has been determined to the extent
such parties have been identified on the basis of information available
with the Company. Further, no interest during the year has been paid or
payable under the terms of MSMED Act, 2006 :-
NOTE 10 Figures of Previous Year have been regrouped re-arranged
wherever found necessary. Figures in brackets above are in respect of
previous year.
Mar 31, 2012
RIGHTS, PREFERENCES AND RESTRICTIONS ATTACHED TO SHARES Equity Shares :
The Company has one class of Equity Shares having a par value of Rs
10/- each. Each shareholder is eligible for one vote per share held.
The dividend proposed by the Board of Directors is subject to the
approval of the shareholders in the ensuing Annual General Meeting,
except in the case of interim dividend. In the event of liquidation,
the equity shareholders are eligible to receive the remaining assets of
the company after distribution of all preferential amounts, in
proportion to their shareholding.
Preference Shares :
Preference shares have a par value of Rs. 100/- each redeemable at par
on or after 1st February, 2014. These shares carry a fixed cumulative
dividend of 8% per annum. The preference shareholders are entitled to
preferential rights as regards payment of dividends at above fixed rate
and right of repayment of capital on winding up.
* First charge by way of equitable mortgage of factory land & building
and other moveable fixed assets of the company at Greater Noida unit &
second charge by way of equitable mortgage over company's factory
land & building and second charge on current assets & other moveable
fixed assets of the company at Faridabad unit & also secured against
personal guarantee of Managing Director of the company.
* First charge by way of equitable mortgage of factory land & building
& specified plant and machinery and other misc. fixed assets of the
company at Faridabad unit & second charge on factory Land & building
and plant & machinery & other misc. fixed assets of Greater Noida unit
& also secured by way of personal guarantee of Managing Director of the
company.
* First charge by way of hypothecation of movable assets including
plant & machinery/equipments etc.acquired/ to be acquired under the
project/ scheme & also secured by way of personal guarantee of Managing
Director of the company The loan assistance to the extent of Rs. 100
lacs is covered under CGTMSE.
* Secured by first charge by way of hypothecation of Inventories, Book
debts and collateral security by way of equiable mortgage of factory
land & building & hypothecation of specified Plant & Machineries &
other miscellaneous fixed assets of the company at Faridabad unit &
second charge by way of equitable mortgage of factory Land & building &
hypothecation of specified Plant & Machineries & other miscellaneous
fixed assets at Greater Noida unit and also secured by way of personal
guarantee of Managing Director and a Director of the company.
* Secured against specified book debts
1. CONTINGENT LIABILITIES & COMMITMENT (To the extent not provided
for)
(Rupees)
As at As at
Contingent Liabilities 31.03.2012 31.03.2011
a) Interest on Local Area
Development Tax recovery 183,000 183,000
of which is stayed by
Supreme Court of India
b) ESIC demand excluding interest
paid under protest 309,298 309,298
Rs.154649 (Rs.154649)
being contested in appeal
c) Letter of credit outstanding 28,242,711 -
Commitments
a) Estimated amount of
outstanding capital commitments 15,130,174 2,080,000
not provided for
b) Custom Duty Payable on
raw materials in Transit 1,272,946 -
2. Some of the Sundry Debtors, Advances including, Deposits and
Current Liabilities are subject to confirmation/ reconciliation.
3. Advances (Note-18) include amounts of Rs.418,100 (Rs.1,92,100)
paid against demand raised by Sales Tax Authority which the company is
contesting. The above payments will be charged to Profit & Loss Account
on the decision by Appellate Authority.
4. Profit/Loss on sale of raw materials, fuel and stores & spares etc
stand adjusted in their consumption Accounts.
5. The company has taken Office premises under a cancelable operating
lease. The lease is usually renewed by mutual consent on mutually
agreeable terms. Total rental expenses under such lease Rs. 36000
(Rs.36000).
6. Related Party Disclosures under Accounting Standard - 18 a) List
of Related Parties (As identified by the Management)
i) Enterprises owned or significantly influenced by key management
personnel or their relatives Orient Syntex (Prop. APM Industries
Limited), Essvee Fiscal Pvt. Ltd., AJR Fiscal Pvt. Ltd., Rajgarhia
Leasing & Financial Services Pvt. Ltd., Faridabad Paper Mills Ltd. RKR
Foundation, Sanjay Rajgarhia & Son (HUF).
ii) Key Management Personnel and their Relatives Directors-Shri Sanjay
Rajgarhia, Shri R. K. Rajgarhia. Smt. Pooja Rajgarhia.
Note : In respect ot above parties there is no provision for doubtful
debts as on 31.03.2012 and no amount has been written off or written
back during the year in respect of debts due from/to them.
7. As per Accounting Standard (AS)-17, "Segment Reproting" the
Company's business segment is packaging. As this is the only segment
no separate disclosure of segment wise information is made.
8. Figurest of Previous year have been regrouped and/or re-arranged
wherever found necessary . Figures in brackets above are in respect of
previous year
Mar 31, 2011
1. Estimated amount of outstanding capital commitments not provided
for Rs.20.80 Lacs (Rs. NIL Lacs) (net of advances.)
2. Contingent Liabilities not provided for in respect of:-
a) Interest of Rs.1.83 lacs (Rs.1.83 Lacs) on Local Area Development
Tax recovery of which is stayed by Supreme Court of India.
b) ESIC demand Rs.3.09 lacs (Rs.3.09 lacs)excluding interest. Paid
under protest Rs.1.54 lacs (Rs.1.54 lacs) being contested in appeal.
3. Some of the Sundry Debtors, Advances including Deposits and Current
Liabilities are subject to confirmation/ reconciliation.
4. In the opinion of the Management Current Assets, Loans and Advances
other than shown doubtful have a value on realisation in the ordinary
course of business at least equal to the amount at which they are
stated in the Balance Sheet.
5. The company has paid/provided remuneration of Rs. 64,510 (Rs NIL)
to a relative of a director Which is subject to the approval of
shareholders in the forthcoming annual general meeting.
6. Advances (Schedule-7) include amounts of Rs. 1.92 Lacs (Rs. 1.92
Lacs) paid against demand raised by Sales Tax Authority which the
company is contesting. The above payments will be charged to Profit &
Loss Account on the decision by Appellate Authority.
7. Profit/loss on sale of raw materials and stores & spares etc stand
adjusted in their consumption Accounts.
8. The company has taken factory land/godown & office under
cancellable operating lease agreements. The lease agreements are
usually renewed by mutual consent on mutually agreeable terms. Total
rental expenses under such lease Rs. 36,000 (Rs. 36,000).
9. Related Party Disclosures under Accounting Standard-18.
a) List of Related Parties (As identified by the Management)
i) Enterprises owned or significantly influenced by key management
personnel or their relatives :- Orient Syntex (Prop.APM Industries
Limited), Essvee Fiscal Pvt. Ltd., AJR Fiscal Pvt. Ltd., Rajgarhia
Leasing & Financial Services Pvt. Ltd., Faridabad Paper Mills Ltd. RKR
Foundation, Sanjay Rajgarhia & Son (HUF).
ii) Key Management Personnel and their Relatives:- Directors-Shri
Sanjay Rajgarhia, Shri R.K. Rajgarhia, Smt. Pooja Rajgarhia.
b) Transactions with Related Parties
Note: In respect of above parties there is no provision for doubtful
debts as on 31.03.2011 and no amount has been written off or written
back during the year in respect of debts due from/to them.
10. As per Accounting Standard-17, "Segment Reporting" the Company's
business segment is packaging. As this is the only segment no separate
disclosure of segment wise information is made.
11. Figures of Previous Year have been regrouped and/ or re-arranged
wherever found necessary to conform to this year's classification. In
the schedules the same are appearing in brackets.
12. Schedules 1 to 15 form an integral part of the Balance Sheet and
Profit & Loss Account and have been duly authenticated.
Mar 31, 2010
1. Estimated amount of outstanding capital commitments not provided
for Rs. NIL Lacs (Rs. 13.56 Lacs) (net of advances.)
2. Contingent Liabilities not provided for in respect of:-
a) Interest of Rs. 1.83 lacs (Rs. 1.83 Lacs) on Local Area Development
Tax recovery of which is stayed by Supreme Court of India.
b) ESIC demand Rs.3.09 lacs(Rs.3.09 lacs) excluding interest paid under
protest Rs. 1.54 lacs (Rs 1.54 lacs) being contested in appeal
c) Letters of credit outstanding Rs.24.69 lacs (Nil).
3. Some of the Sundry Debtors, Advances including Deposits and Current
Liabilities are subject to confirmation/ reconciliation.
4. in the opinion of the Management Current Assets, Loans and Advances
other than shown doubtful have a value on realisation in the ordinary
course of business at least equal to the amount at which they are
stated in the Balance Sheet.
5) Advances (Schedule-7) include amounts of Rs. 1.92 Lacs (Rs. 2.14
Lacs) paid against demand raised by Sales Tax Authority which the
company is contesting. The above payments will be charged to Profit &
Loss Account on the decision by Appellate Authority.
6. Profit/loss on sale of raw materials and stores & spares etc stand
adjusted in their consumption Accounts.
7. The company has taken factory land/godown & office under
cancellable operating lease agreements. The lease agreements are
usually renewed by mutual consent on mutually agreeable terms. Total
rental expenses under such lease Rs. 2,23,066 (9,53,286).
8. Related Party Disclosures under Accounting Standard-18.
a) List of Related Parties (As identified by the Management)
i) Enterprises owned or significantly influenced by key management
personnel or their relatives :- Orient Syntex (Prop.APM Industries
Limited), Essvee Fiscal Pvt. Ltd., AJR Fiscal Pvt. Ltd., Rajgarhia
Leasing & Financial Services Pvt. Ltd., Faridabad Paper Mills Ltd. RKR
Foundation, Sanjay Rajgarhia & Son (HUF).
ii) Key Management Personnel and their Relatives:- Directors-Shri
Sanjay Rajgarhia, Shri R.K. Rajgarhia.
9. As per Accounting Standard-17, "Segment Reporting" the Companys
business segment is packaging. As this is the only segment no separate
disclosure of segment wise information is made.
10. Figures of Previous Year have been regrouped and/ or re-arranged
wherever found necessary to conform to this years classification. In
the schedules the same are appearing in brackets.
11. Schedules 1 to 15 form an integral part of the Balance Sheet and
Profit & Loss Account and have been duly authenticated.