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Notes to Accounts of Plastiblends India Ltd.

Mar 31, 2015

Rs.in Lacs

NOTE 1 : Contingent Liabilities not provided for: 2015 2014

Bank Guarantees 208.73 45.80

Letter of Credit 449.66 136.37

Claim against the company not acknowledged as debts 26.00 26.00

Service Tax matter under dispute 470.63 417.60

NOTE 2 : Amount Due to Small, Medium and Micro enterprises:

Company is in process of inviting information from its vendors for their status under "The Small, Medium and Micro Enterprises Development Act 2006", however in absence of any information, no disclosures have been made in this regards.

Note 3 : Related Party Disclosures

(a) List of related parties and relationships:

A. Associate Concern

Kabra Extrusion Technik Ltd.

B. Enterprise over which key management personnel exercise significant influence.

Rambalab Ramnarayan, Maharashtra Plastic Industries, Maharashtra Plastic & Industries, Smartech Global Solutions Ltd., Kolsite Industries., Kolsite Corporation LLP, Kolsite Packaging Systems Pvt. Ltd., Kabra Gloucester Engineering Ltd., Shima Polymers

C. Key Management Personnel and Relatives, Chairman & Managing Director, Directors , Related to Directors

Shri S V Kabra, Shri S N Kabra, Shri A S Kabra, Shri Varun S Kabra, Smt. Veenadevi S Kabra,

Smt Saritadevi S Kabra, Smt Ekta A Kabra, Miss Khushi A Kabra

Notes :

(1) This form of proxy in order to be effective should be duly completed and deposited at the Registered Office of the Company, not less than 48 hours before the commencement of the meeting.

(2) For the Resolutions, Explanatory Statement and Notes, please refer to the Notice of the 24th Annual General Meeting

(3) It is optional to put a 'X' in the appropriate column against the Resolutions indicated in the Box. If you leave the 'For' and

'Against' column blank against any or all Resolutions, your proxy will be entitled to vote in the manner as he / she thinks appropriate.


Mar 31, 2014

1 Contingent Liabilities not provided for

Bank Guarantees 45.80 91.60

Letter of Credit 136.37 253.49

Less- Fixed deposits shown under the head cash and - 6.00 bank balance include deposits pledged with the banks as margins to secure letters of credit and guarantees issued by banks Net amount 182.17 339.09

Disputed income tax demand - 6.10

Claim against the company not acknowledge as debts 26.00 -

Service tax matter under dispute 417.60 415.19

2 Amount Due to Small, Medium and Micro Enterprises

Company is in process of inviting information from its vendors for their status under "The Small, Medium and Micro Enterprises Development Act 2006", however in absence of any information, no disclosures have been made in this regards.

3 Information about Business Segments

The company is operating in only one segment only i.e. Manufacturing of Materbatches.

4 Related Party Disclosures

(a) List of related parties and relationships:

Relation Parties

A. Associate Concern Kabra Extrusiontechnik Ltd.

B. Enterprise over which key management personnel Kolsite Industries., Kolsite Corporation LLP, exercise significant influence. Kolsite Packaging Systems Pvt. Ltd., Kabra

Gloucester Engineering Limited, Maharashtra Plastic Industries, Maharashtra Plastic & Industries, Rambalab Ramnarayan, Smartech Global Solutions Ltd.

C. Key Management Personnel and Relatives, Chairman & Shri S V Kabra, Shri S N Kabra, Shri A S Kabra, Managing Director, Directors , Related to Directors Shri Varun S Kabra, Smt. Veenadevi S Kabra,

Smt Saritadevi S Kabra, Smt Ekta A Kabra, Miss Khushi A Kabra

5 Disclosure for operating leases:

The Company has taken on lease factory at Daman, Mumbai office & residential flats for employees under operating leases. The lease payments to be made in respect of non cancellable lease in future are as follows:


Mar 31, 2013

1 Contingent Liabilities not provided for

Bank Guarantees 91.60 106.80

Letter of Credit 253.49 425.87

Less : Fixed deposits shown under the head cash and cash 6.00 66.22 equivalents include deposits pledged with the banks as margins to secure letters of credit and guarantees issued by banks

Net amount 339.09 466.45

Disputed income tax demand 6.10 24.95

Service tax matter under dispute 415.19 402.97

2 Information about Business Segments

The company is operating in only one segment i.e. manufacturing of materbatches.

3 Disclosure for operating leases:

The Company has taken on lease factory at Daman, Mumbai office & residential flats for employees under operating leases. The lease payments to be made in respect of non cancellable lease in future are as follows:

4 Previous year''s figures have been regrouped/recast wherever necessary.


Mar 31, 2012

1 Capital Commitments

Estimated amount of contracts remaining to be executed on capital account and not provided for is Rs.70.47 Lacs (Previous year Rs.45.61 Lacs)

(Rs.in Lacs)

As At As At 31st March, 2012 31st March,2011

2 Contingent Liabilities not provided for:

Bank Guarantees 106.80 77.56

Letter of Credit 425.88 658.50

Fixed deposits shown under the head cash and cash equivalents include 6.00 45.27 deposits pledged with the banks as margins to secure letters of credit and guarantees issued by banks

Net amount 526.68 690.79

Disputed income tax demand 24.95 24.95

Service tax matter under dispute 402.97 394.23

3 Amount Due to Small, Medium and Micro Enterprises:

Company is in process of inviting information from its vendors for their status under "The Small, Medium and Micro Enterprises Development Act, 2006", however in absence of any information, no disclosures have been made in this regards.

4 Disclosure in pursuance of Accounting Standard -15 (Revised) on "Employee Benefits"

a) Compensated Leave:

Privilege leave entitlements are recongnised as liability in the calender year of rendering of service as per rules of the Company. As accumulated leave can be availed and / or encashed at any time during the tenure of employment, the liability is recognised at the higher of the actual accumulated obligation or actuarially determined value.

b) Gratuity is administered through group gratuity scheme with Kotak Life Insurance under Kotak Gratuity Group Plan.

5 Information about Business Segments

The company is operating in only one segment i.e. manufacturing of masterbatches.

6 Related Party Disclosures

(a) List of related parties and relationships:

A. Associate Concern and Promoter Companies

Kabra Extrusiontechnik Ltd.

B. Enterprise over which key management personnel exercise significant influence.

Ganges Urethane LLP, Kabra Gloucester Engineering Ltd., Kolsite Industries, Kolsite Maschine Fabrik Pvt. Ltd., Kolsite Packaging Systems Pvt. Ltd., Maharshree Plastic Industries Pvt. Ltd., Maharastra Plastic Industries, Maharashtra Plastic & Industries, Rambalab Ramnaran, Smartech Global Solutions Ltd., Wonderworld Resorts Ltd.,

C. Key Management Personnel and Relatives

Shri S. V. Kabra-Chairman and Managing Director, Shri S. N. Kabra-Vice Chairman and Managing Director, Shri A. S. Kabra-Executive Director, Shri Varun S. Kabra, Smt Veenadevi S. Kabra, Smt Saritadevi S. Kabra, Smt Ekta A. Kabra, Miss Khushi A. Kabra

7 Previous year's figures have been regrouped/recast wherever necessary


Mar 31, 2011

1. Capital Commitments:

Estimated Amount of contracts remaining to be executed on capital account & not provided for is Rs 45,60,675/- (Previous year Rs 1,35,27,571/-)

2. Contingent Liabilities not provided for:

Year Ended March 31 (Rs.)

Particulars 2011 2010

Bank guarantees 77,56,000 67,20,000

Letter of Credit 6,58,50,158 64,09,383

Fixed deposits shown under the head cash and bank balances include 45,26,967 55,03,406 deposits pledged with the banks as margins to secure letters of credit and guarantees issued by banks Net amount 6,90,79,191 76,25,977

Bills Discounting 13,36,27,920 7,26,49476

Uncalled Amount On Investments 1,15,20,000 1,15,20,000

Disputed income tax demand 24,95,000 24,95,000

Service Tax matter under dispute 3,94,22,628 3,11,31,665

3. Amount Due to Small, Medium and Micro enterprises:

Company is in process of inviting information from its vendors for their status under "The Small, Medium and Micro Enterprises Development Act 2006", however in absence of any information, no disclosures have been made in this regard.

4. Disclosure in pursuance of Accounting Standard - 15 (Revised 2005) on "Employee Benefits"

a) Compensated Leave:

Privilege leave entitlements are recognised as liability in the calendar year of rendering of service as per rules of the Company. As accumulated leave can be availed and / or encashed at any time during the tenure of employment, the liability is recognised at the higher of the actual accumulated obligation or actuarially determined value.

b) Gratuity is administered through group gratuity scheme with Kotak Life Insurance under Kotak Gratuity Group Plan.

5. Information about Business Segments

The company is operating in one segment only i.e. Masterbatches.

6. Related Party Disclosures

(A) List of related parties and relationships:

Relation Parties

A. Associate Concern & Promoter Companies Kabra Extrusiontechnik Ltd.

B. Enterprise over which key management personnel exercise significant influence.

Rambalab Ramnaran, Kabra Gloucester Engineering Ltd.,

Kolsite Machine Fabrik Pvt. Ltd.,

Mahashree Plastic Industries Pvt. Ltd.,

Maharashtra Plastic Industries, Maharashtra Plastic & Industries, Smartech Global Solutions Ltd.,

Kolsite Industries, Wonderworld Resorts Ltd.,

Ganges Urethane Pvt. Ltd.

C. Key Management Personnel and Relatives Chairman & Managing Director Related to Directors

Shri S V Kabra, Shri S N Kabra, Shri A S Kabra

Smt Veenadevi S Kabra, Smt Saritadevi S Kabra, Smt Ekta

A Kabra, Shri Varun S Kabra

7. Previous year's figures have been regrouped/recast wherever necessary.












Mar 31, 2010

Current Year (Rs.) Previous Year (Rs.)

1.a)Contingent Liabilities not provided for in respect of i) Guarantee issued 67,20,000 67,20,000

ii) Letter of Credit 64,09,383 14,53,006

iii) Bills Discounting 7,28,49,476 2,08,39,858

iv) CST matters -- 1,07,546

v) Service Tax matters 3,11,31,665 --

11,69,10,524 2,91,20,410

2) In the absence of intimation from the vendors with regard to their registration (Filing of Memorandum) under "The Micro, Small & Medium Enterprise Development Act, 2006 (27 of 2006)" and in view of the terms of payments not exceeding 45 days no liability exists at the close of the year and hence no disclosure have been made in this regard.

3) The Company has provided for Excise Duty Liability on finished goods amounting to Rs. 1,29,66,478/- ( P.Y. Rs 72,75,328/-). However this does not have any impact on the profit for the year.

4) As accumulated leave can be availed and / or encashed at any time during the tenure of employment, the liability is recognised at the higher of the actual accumulated obligation or actuarially determined value.

5) Amount of borrowing cost capitalised as per AS -16 during the year was Rs. Nil ( P. Y. Rs. NIL)

6) The company is operating only in one segment hence no segment wise disclosure as per AS -17 is provided.

7) As required by AS -18 "Related Party Disclosure" are given below.

A) Names of Related Parties & Description of relationship with whom there were "NO TRANSACTIONS" during the year.

i) ASSOCIATE CONCERNS :

Kabra Gloucester Engineering Ltd.,

ii) CONCERNS IN WHICH DIRECTORS ARE INTERESTED :

Rambalab Ramnaran, All Purpose Consultations & Services Pvt. Ltd., See Diff. Software Solutions (India) Pvt. Ltd., Harekrishna Harerama Trading Company Pvt. Ltd., Welworth Investments & Trading Company Pvt. Ltd., Elegant Trading & Investment Company Pvt. Ltd., Ideal Consultancy Services Pvt. Ltd., Borouge (India) Pvt. Ltd., Innovations Consultancy India Pvt. Ltd., Panoramic Investment Advisors Pvt. Ltd.

B) Names of Related Parties & Description of relationship with whom there were "TRANSACTIONS" during the year.

i) ASSOCIATE CONCERNS : Kolsite Maschine Fabrik Pvt. Ltd., Kabra Extrusiontechnik Ltd., Mahashree Plastic Industries Pvt. Ltd., Maharastra Plastic Industries, Maharashtra Plastic & Industries, Smartech Global Solutions Ltd., Kolsite Industries, Wonderworld Resorts Limited

ii) DIRECTORS : Shri S. V. Kabra, Shri S. N. Kabra, Shri H. S. Sanwal, Shri A.S. Kabra. Shri P. R. Singhvi, Dr. Y. B.Vasudeo, Shri S.K. Parab.

 
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