Mar 31, 2016
Contingent liabilities are not recognized but disclosure of its existence is done in the Financial Statements. A contingent asset
is neither recognized nor disclosed in the Financial Statements.
Working Capital Loan has been availed under Consortium Banking arrangement from State Bank of Mysore, (Leader of Consortium) &
other member banks being State Bank of Hyderabad, State Bank of Travancore, Bank of India, Andhra Bank, Punjab National Bank,
Laxmi Vilas Bank Limited, Tamilnad Mercantile Bank Limited, Corporation Bank, Vijaya Bank, Indian Overseas Bank with sharing of
pari passu charge by way of hypothecation of present & future Currents Assets of the Company, consisting of Stock & Book Debts.
b) Rights and restriction attached to Shares Capital
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 Company has declared dividend of Rs,0.75 (i.e. 7.50%) per share during the current year and in previous year dividend
was of Rs,0.50 (i.e.5.00%) per share.
c) Share held by holding/ultimate holding company and/or their subsidiaries/associates :
There is no such Share held by holding/ultimate holding company and/or their subsidiaries/associates.
d) Shares allotted as fully paid up by way of bonus shares (during 5 years preceding March 31, 2016)
During the last 5 years preceding to March 31, 2016, the Company has allotted as fully paid up Bonus share in the ratio of 1:1 on
12.10.2015 as approved by Members in the EGM held on 29.09.2015.
Mar 31, 2015
Contingent liabilities are not recognised in the Financial Statements.
A contingent asset is neither recognised nor disclosed in the Financial
Statements.
b) Rights and restriction attached to 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.
c) Share held by holding/ultimate holding company and/or their
subsidiaries/associates :
There is no such Share held by holding/ultimate holding company and/or
their subsidiaries/associates :
d) Shares allotted as fully paid up by way of bonus shares (during 5
years preceding March 31, 2015)
The Company has not allotted any equity shares as fully paid-up bonus
shares during last 5 years preceding to March 31, 2015.
Mar 31, 2014
NOTE # 1
I. CORPORATE INFORMATION
Pincon Spirit Limited (the "Company") (CIN No: L67120WB1978PLC031561)
is a public company domiciled in India and incorporated under the
provisions of the Companies Act, 1956. Its shares are listed on
Calcutta Stock Exchange Limited in India. The company is engaged in
carrying on the Business of Bottling & Selling of Indian Made Foreign
Liquor & FMCG the Company caters to domestic markets only.
Previous Year figures have been re-arranged and are grouped wherever
necessary.
a) Rights and restriction attached to 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
company has not declared any dividends during the current and previous
year.
b) Share held by holding/ultimate holding company and/or their
subsidiaries/associates :
There is no such Share held by holding/ultimate holding company and/or
their subsidiaries/associates :
c) Shares allotted as fully paid up by way of bonus shares (during 5
years preceding March 31,2014) The Company has not allotted any equity
shares as fully paid-up bonus shares during last 5 years preceding to
March 31,2014.
Notes
Working Capital Loan facilities from Punjab National Bank, B.RB.B.Road
Br, Kolkata & Indian Oversea Bank, Mahalaksmipurm Branch, Bangalore are
secured by hypothecation of Currents Assets consisting of Stock & Book
Debts. Bank Overdraft, is from Punjab National Bank secured by way of
Fixed Deposit
2. SEGMENT REPORTING
The Company has identified tree reportable segments viz. IMFL & FMCG
segment have been identified and reported taking into account nature of
products and services, the differing risks and returns and the internal
business reporting systems. The accounting policies adopted for segment
reporting are in line with the accounting policy ofthe Company with
following additional policies for segment reporting.
a. Revenue and expenses have been identified to a segment on the basis
of relationship to operating activities of the segment. Revenue and
expenses which relate to enterprise as a whole and are not allocable to
a segment on reasonable basis have been disclosed as "Unallocable".
b. Segment assets and segment liabilities represent assets and
liabilities in respective segments. Investments, tax related assets and
other assets and liabilities that cannot be allocated to a segment on
reasonable basis have been disclosed as "Unallocable".
Mar 31, 2013
1. Particulars of Employees
There is no employee who is in receipt of remuneration in excess of the
limits specified.
2. Conservation of Energy & Technology absorption
In view ofthe Trading activities ofthe Company the matters related to
conservation of Energy & Technology are not applicable to the Company
3. Due to Micro/ Small Industrial Enterprises
The Company has not received any information from any of the suppliers
of their being a micro/ small scale industrial enterprise, hence the
amount due to such units outstanding as at the year ended 31.03.2013 is
not ascertainable.
4. Income Tax
Provision is made for Income Tax on a yearly basis under the tax
payable method based on tax liability as computed after taking credit
for allowances, expenses. In case of matters under appeal due to
disallowance or otherwise, full provision is made when the liabilities
are accepted.
5. General
The Company has a policy of authorizing expenditure based on reasonable
checks and balances. The policy is intended to ensure that expenses are
authorized on the basis of contractual obligations or accepted business
practices having regard to the company''s business need and exigencies.
In terms of these observations we have not come across any expenses
charged to the Revenue Account of the Company, which, in our opinion
and according to explanations given to us could be regarded as personal
expenses.
6. Dispute
"Company''s claim for liquidated damages from M/s Aventis Biofeeds Pvt
Ltd was denied by the party and matter is under arbitration which is at
present pending. Income if any arising, for the same shall be
recognized on receiving the arbitration award.
7. Previous Year figures have been re-arranged and are grouped
wherever necessary.
Mar 31, 2012
1. Working Capital Loan facilities from Punjab National Bank,
B.R.B.B.Road Br, Kolkata are secured by hypothecation of Currents
Assets consisting of Stock & Book Debts
2. Particulars of Employees
There is no employee who is in receipt of remuneration in excess of the
limits specified.
3. Conservation of Energy & Technology absorption
In view of the Trading activities of the Company the matters related to
conservation of Energy & Technology are not applicable to the Company
4. Due to Micro/ Small Industrial Enterprises
The Company has not received any information from any of the suppliers
of their being a micro/ small scale industrial enterprise, hence the
amount due to such units outstanding as at the year ended 31.03.2011 is
not ascertainable.
5. Income Tax
Provision is made for Income Tax on a yearly basis under the tax
payable method based on tax liability as computed after taking credit
for allowances, expenses. In case of matters under appeal due to
disallowance or otherwise, full provision is made when the liabilities
are accepted.
6. General
The Company has a policy of authorizing expenditure based on reasonable
checks and balances. The policy is intended to ensure that expenses are
authorized on the basis of contractual obligations or accepted business
practices having regard to the company''s business need and exigencies.
In terms of these observations we have not come across any expenses
charged to the Revenue Account of the Company, which, in our opinion
and according to explanations given to us could be regarded as personal
expenses.
7. Previous Year figures have been re-arranged and are grouped
wherever necessary.
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