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Notes to Accounts of Pondy Oxides & Chemicals Ltd.

Mar 31, 2015

1.0 DEMERGER

The Hon'ble High Court of Madras on December 4, 2014 sanctioned the Scheme of Arrangement (Demerger) vide Company Petition No 338 of 2014 for Demerger of four undertakings of the Company, namely Metallic Oxides, Plastic Additives, Zinc Refining and Alloying & Refining along with their related assets and liabilities to M/s. POCL Enterprises Limited with effect from April 1,2013, the Appointed Date.

The Scheme of Demerger has been accounted for in terms of the Court Order and alterations or modifications as approved by the Board of Directors of the Company and the Resulting Company as provided for in the Scheme.

Consequent to the Demerger of the four Undertakings of the Company in terms of the Scheme, the Financial Statements of the Company for the year ended March 31,2015 , do not include the operations of the four Demerged Undertakings and therefore strictly not comparable with the figures of the Previous Year ended March 31,2014.

The Resulting Company shall be required to reimburse and indemnify M/s. Pondy Oxides & Chemicals Limited ( "the Company" ) against all liabilities and obligations incurred by the Company in legal, taxation and other proceedings in so far as liabilities and obligations relates to periods prior to the Appointed Date i.e. April 1,2013 in respect of the Demerged Undertakings as defined in the Scheme of Arrangement approved by the Hon'ble High Court of Madras.

All the Assets & Liabilities relating to the Demerged Undertakings of the Company, on the Appointed Date have been transferred to the Resulting Company.

Rs. 78.14 Lakhs of Investments held by the Company in M/s. POCL Enterprises Limited as Share Capital (781465 equity shares of face value of Rs. 10/- each) have been cancelled pursuant to the Order of the Hon'ble High Court of Madras forthe Scheme of Arrangement (Demerger)

As per the Scheme ofArrangement (Demerger) referred above, each member of the Demerged Company (M/s. Pondy Oxides & Chemicals Limited ) whose name stood recorded in the Register of Members as on January 9, 2015 , against the original holding of two shares, has received one equity share of Rs.10 each in the Resulting Company (M/s. POCL Enterprises Limited), allotted in the ratio of 0.5:1. In consideration of this, one share held in the Demerged Company stands cancelled. Hence each member holds one share in Demerged Company and one share in the Resulting Company, against the original holding of two shares, Accordingly paid up share capital of the company has been reduced from Rs. 1,115.20 Lakhs to Rs. 557.60 Lakhs.

As a result of Demerger, M/s. POCL Enterprises Limited ceases to be a wholly owned subsidiary of the Company.

The effective date for the Scheme of Demerger is December 22, 2014, being the date on which the Certified True Copy of the High Court Order was filed with Registrar of Companies, Tamilnadu and taken on record by them.

Disclosure of Discontinued Operations

Names and General Nature of Business of Discontinued Operations are as follows:

(i) Metallic Oxides Undertaking - Manufacture of Metallic Oxides

(ii) Plastic Addivities Undertaking - Manufacture of Plastic Additives

(iii) Zinc Refining Undertaking - Manufacture of Zinc Metal and its Metallic Oxides

(iv) Lead Refining Undertaking - Refining of Lead Metal

Reason for Discontinuation: - Demerger of Units as per the Order of Hon'ble High Court of

Madras dated December 4, 2014

Initial Disclosure event and Time - The Effective date i.e., December 22, 2014 on which the Certified

True Copy of the Order of Hon'ble High Court filed with Registrar of Companies Tamilnadu.

1.1 The Company has only one class of equity shares having a par value of Rs.10/- per share. Each holder of equity share 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.

2.1 Rs. 474.37 lakhs (Rs.189.08 lakhs ) of term loan from Canara Bank for New Project in Andhra Pradesh for construction of building and machinery are primarily secured by way of first mortgage /Charge on the immovable / movable assets situated in factories of the company and guaranteed by promoter directors of the company, repayable in 48 monthly instalments effective from Novemeber 2014 Rs.14.03 lakhs (Rs.14.88 lakhs) of Vehicle loan availed from banks, primarily secured by hypothecation of respective vehicles, repayable as per conditions of the respective term loans. The above loans are additionally secured by hypothecation of present and future stock of raw materials, stock-in- process, finished goods, stores & spares, book debts, materials in transit, etc.

3.1 Rs. 39.74 lakhs (Rs. Nil) of term loan for Vehicle is primarily secured by hypothecation of the Vehicle and repayable as per the term of the Vehicle loan **3.3 Represents loan received from directors.

4.1 Working Capital loans are secured by hypothecation of present and future stock of raw materials, stock-in-process, finished goods, stores & spares, book debts, materials in transit, etc., and guaranteed by promoter directors of the company.

4.2 Other loans and advances from others includes unsecured loan from Directors.

5.1 Defined Benefit Plan :

The Employee's gratuity liability has been made on actuarial basis . The Present value of obligation is determined by using the Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit and entitlement measures each unit separately to build up the final obligation.

6 (i) Related Party Disclosures

in accordance with Accounting Standard 18, the disclosure required is given below Name of the related parties and relationship

(a) Related enterprises

M/s. Ardee Industries Private Limited M/s. Bansal Metalic Oxides M/s. Bansal Chemicals (India)

M/s. Daman Metalic Oxides

(b) Key Management Personnel

S.No Name Designation

1 Mr. Anil Kumar Bansal Managing Director

2 Mr. R.P.Bansal Whole Time Director

3 Mr. Ashish Bansal Whole Time Director

4 Mr. K Kumaravel GM-Finance & Co. Secretary

(c ) Relatives of Key Management Personnel

S.No Name Relationship

1 Mrs. Manju Bansal W/o. Mr. Anil Kumar Bansal

2 Mrs. Saroj Bansal W/o. Mr. R.P. Bansal

3 Mrs. Charu Bansal W/o. Mr. Ashish Bansal

4 Mr. Pawan Bansal S/o. Mr. R.P. Bansal

5 Mrs. Megha Choudhari D/o. Mr. Anil Kumar Bansal

6 Mr. Punit Choudhari Daughter's husband of Mr. Anil Kumar Bansal

7 Mrs. Shashi Gupta Sister of Mr. Anil Kumar Bansal

8 Mr. Manoj Kumar Bansal Brother of Mr. Anil Kumar Bansal

9 Mrs. Sushma Gupta D/o Mr. R P Bansal

iii Disclosure in respect of Material related party transaction during the year

1.00 Purchase / Material Consumed include Rs. Nil (Rs.628.87 lakhs) from M/s. Bansal Chemicals India

2.00 Sale include sale of Rs. Nil (Rs. 12.43 lakhs) to M/s.Ardee Indutries Pvt. Ltd , Rs.22.05 lakhs (Rs. 584.30 lakhs) to M/s. Bansal Chemicals (India) and Rs. Nil (Rs.9.13 lakhs) to M/s. Bansal Metalic Oxides

3.00 Conversion Charges paid include Rs.Nil (Rs.23.21 lakhs) to M/s. Ardee Industries Pvt.Ltd and Rs. 3.16 lakhs (Rs. 68.62 lakhs) to M/s. Bansal Metalic Oxides.

4.00 Remuneration paid include Rs. 43.25 lakhs (Rs.39.57 lakhs) to Mr.Anil Kumar Bansal, Rs.Nil (Rs. 32.26 lakhs) to Mr.Sunil Kumar Bansal ; Rs.33.91 lakhs (Rs.31.06 lakhs) to Mr. R P Bansal, Rs.Nil (Rs.29.50 lakhs) to Mr. Devakar Bansal, Rs. Nil (Rs.9.97 lakhs) to Mr. Y.V. Raman, Rs. 32.74 lakhs (Rs. 29.14 lakhs) to Mr.Ashish Bansal. Rs.15.12 lakhs (Rs.12.30 lakhs) to Mr.K. Kumaravel

5.00 Interest paid include Rs.Nil (Rs.13.39 lakhs) to M/s. Ardee Indutries Pvt. Ltd, Rs.11.87 lakhs (Rs.8.91 lakhs) to M/s. Daman Metalic Oxides, Rs. 1.34 lakhs (Rs.1.29 lakhs) to M/s. Rajendra Metchem, Rs.Nil (Rs.6.91 lakhs) to Mr. Padam C. Bansal, Rs.9.58 lakhs (Rs.5.85 lakhs) to Mr.Anil Kumar Bansal, Rs.21.41 lakhs (Rs.14.52 lakhs) to Mr.R P Bansal, Rs. Nil (Rs.1.00 lac) to Mr.Devakar Bansal, Rs.15.27 lakhs (Rs. 8.27 lakhs) to Mr.Ashish Bansal,Rs. Nil (Rs.0.06 lakhs) to Mr. Y.V.Raman, Rs.Nil (Rs. 12.91 lakhs) to Mrs.Vijaya Bansal, Rs.7.35 lakhs (Rs.2.50 lakhs) to Mrs.Manju Bansal, Rs.9.82 lakhs (Rs.3.62 lakhs) to Mrs.Saroj Bansal, Rs.1.94 lakhs (Rs. 1.73 lakhs) to Mrs.Megha Choudhari, Rs.5.41 lakhs (Rs. 3.65 lakhs) to Mrs.Charu Bansal, Rs.1.21 lakhs (Rs.1.09 lakhs) to Mr.Pawan Bansal, Rs.1.20 lakhs (Rs.1.20 lakhs) to Mrs.Sashi Gupta, Rs.Nil (Rs. 0.37 lakhs) to Mrs. Vandana Bansal, Rs.0.92 lakhs (Rs.0.58 lakhs) to Punit Choudhari, Rs.Nil (Rs. 0.11 lakhs) to Mr. Amber Bansal, Rs. 0.21 lakhs (Rs. 0.20 lakhs) to Mr. Manoj Kumar Bansal and Rs.0.69 lakhs (Rs. 0.59 lakhs) to Mrs. Sushma Gupta

6.00 Sales and distribution expenses represents Rs. Nil (Rs. 16.81 lakhs) Paid to M/s. Bansal Chemicals (India), Rs. Nil (Rs. 0.20 lakhs) Paid to M/s. Ardee Industries Pvt. Ltd

7.00 Inter Corporate deposit paid Rs.Nil (Rs.17.58 lakhs) to M/s. Ardee Industries Pvt. Ltd.

8.00 Inter Corporate deposit received Rs.Nil (Rs.10.21 lakhs) from M/s. Ardee Industries Pvt Ltd

9.00 Loan taken include Rs. Nil (Rs.25 lakhs) from M/s. Daman Metalic Oxides, Rs.377.75 lakhs (Rs.73.58 lakhs) from Mr.Anil Kumar Bansal, Rs.176.25 lakhs (Rs.114.75 lakhs) from Mr.R P Bansal, Rs. 222.75 lakhs (Rs.122.47 lakhs) from Mr.Ashish Bansal, Rs.68.90 lakhs (Rs.72.50 lakhs) from Mrs.Manju Bansal,Rs.48.75 lakhs (Rs. 30.50 lakhs) from Mrs.Charu Bansal and Rs.42.75 lakhs (Rs.44.00 lakhs) from Mrs.Megha Choudhari, Rs.85.30 lakhs (Rs.64.00 lakhs) from Mrs.Saroj Bansal , Rs.Nil (Rs. 10.5 lakhs) from Mrs.Vandana Bansal, and Rs. Nil (Rs. 5.00 lakhs) from Mr. Punit Choudhari, Rs. Nil (Rs. 1.25 lakhs) from Mrs. Vijaya Bansal and Rs. Nil (Rs. 5.22 lakhs) from Mrs. Sushma Gupta

10.00 Loan paid include Rs. 98.95 lakhs (Nil) to M/s. Daman Metalic Oxides, Rs.Nil (Rs. 3.25 lakhs) to Mr. Padam C Bansal, Rs.32.95 lakhs (Rs. 107.35 lakhs) to Mr. Anil Kumar Bansal, Rs. Nil (Rs. 91.45 lakhs) to Mr.Devakar Bansal, Rs.21.71 (Rs. 93.30 lakhs) to Mr. R P Bansal, Rs. 20.45 lakhs (Rs.143.95 lakhs) to Mr. Ashish Bansal, Rs.68.90 lakhs (Rs.90.87 lakhs) to Mrs.Manju Bansal, Rs.48.75 lakhs (Rs.30.50 lakhs) to Mrs.Charu Bansal, Rs.43.09 lakhs (Rs. 54.94 lakhs) to Mrs.Megha Choudhari, Rs.Nil (Rs.62.30 lakhs) to Mrs.Vandana Bansal Rs. 85.30 lakhs (Rs.81.60 lakhs) to Mrs.Saroj Bansal, Rs. 10.10 lakhs (Nil) to Mr. Pawan Bansal, Rs.12.64 lakhs (Nil) to Mr. Punit Choudhari,Rs. 10.00 lakhs (Nil) to Mrs. Sashi Gupta, Rs.1.79 lakhs (Nil) to Mr. Manoj Kumar Bansal and Rs.5.75 lakhs (Nil) to Mrs. Sushma Gupta

11.00 Trade and other payable include Rs.Nil (Rs.91.83 lakhs) to M/s.Daman Metalic Oxides, Rs.1.95 lakhs (Nil) to M/s. Bansal Metallic Oxide and Rs. Nil (Rs. 119.33 lakhs) to M/s. Bansal Chemicals (India), Rs. Nil (Rs. 10.00 lakhs) to M/s. Rajendra Metchem, Rs. 351.24 lakhs (Nil) to Mr. Anil Kumar Bansal, Rs.Nil (Rs.55.33 lakhs) to Mr.Padam C Bansal, Rs.284.97 lakhs (Rs.100.00 lakhs) to Mr.R P Bansal, Rs.216.04 lakhs (Nil) to Mr.Ashish Bansal, Rs.Nil (Rs.0.50 lakhs) to Mr.Y.V. Raman, Rs.Nil (Rs. 107.68 lakhs) to Mrs.Vijaya Bansal, Rs.Nil (Rs. 9.12 lakhs) to Mr.Pawan Bansal, Rs.Nil (Rs. 10.50 lakhs) to Mrs.Vandana Bansal, Rs.Nil (Rs. 10.00 lakhs) to Mrs.Sashi Gupta, Rs. Nil (Rs.7.11 lakhs) to Mr.Punit Choudhari, Rs. Nil (Rs.0.90 lakhs) to Mr.Amber Bansal, Rs. Nil (Rs.1.61 lakhs) to Mr.Manoj Kumar Bansal and Rs. Nil (Rs.5.22 lakhs) to Mrs.Sushma Gupta

12.00 Trade and other Receivables includes Rs. Nil (Rs. 79.27 lakhs) from M/s. Bansal Chemicals (India)

13.00 Inter Corporate Deposit outstanding includes Rs. Nil (Rs. 104.97 lakhs) payable to M/s Ardee Industries P Ltd.

8.0 Contigent Liaibilites and Commitments (Rs. in Lakhs)

(A) Contigent Liaiblites

Particulars As at 31 March, As at 31 March, 2015 2014

(I ) (i) Gurantees to bank and Financial Institutions against credit facilies extended to subsidiary Company - 30.00

(ii) Performance/ Finance Guarantees 25.00 25.00

(iii) Other Money for which the company is contingently liable Liability in Respect of LC Opened 458,63 608.30

Liablity in respect of Bills Discounted with Banks 162.87 542.93

(II) Commitments

(a) Estimted amount of contracts remaining to be executed on capital account and not provided for 222.00 310.55

The business of the Company falls under a single primary segment i.e., Metal for the purpose of Accounting Standard 17.

9.0 Previous year figures have been regroped/rearranged wherever necessary.


Mar 31, 2014

1.1 Employee Benefits (AS -15 revised)

As per Accounting Standard 15 " Employee benefits", the disclosures as defined in the Accounting Standard are given below:

1.2 Defined Benefit Plan :

The Employee''s gratuity liability has been made on actuarial basis. The Present value of obligation is determined by using the Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

2.0 (i) Related Party Disclosures in accordance with Accounting Standard 18, the disclosure required is given below

(a) Name of the related parties and relationship

Subsidiary: M/s POCL Enterprises Limited.

(b) Other Related Enterprises

M/s. Ardee Industries Private Limited

M/s. Bansal Metalic Oxides

M/s. Bansal Chemicals (India)

M/s. Daman Metalic Oxides

(c) Key Management Personnel

Name Designation

Dr. Padam C Bansal Chairman

Sri. Anil Kumar Bansal Managing Director

Sri. Sunil Kumar Bansal Whole Time Director

Sri. R.P.Bansal Whole Time Director

Sri. Devakar Bansal Whole Time Director

Sri. Y.V. Raman Whole Time Director

Sri. Ashish Bansal Director

(d) Relatives of Key Management Personnel

Name Relationship

Smt. Vijaya Bansal W/o. Dr. Padam C.Bansal

Smt. Manju Bansal W/o . Sri. Anil Kumar Bansal

Smt. Neelam Bansal W/o. Sri. Sunil Kumar Bansal

Smt. Saroj Bansal W/o. Sri. R.P. Bansal

Smt. Vandana Bansal W/o. Sri. Devakar Bansal

Smt. Charu Bansal W/o. Sri. Ashish Bansal

Sri. Pawan Bansal S/o. Sri. R.P. Bansal

Sri. Harsh Bansal S/o. Sri. Sunil Kumar Bansal

Sri. Sagar Bansal S/o. Sri. Devakar Bansal

Smt. Megha Choudhari D/o. Sri. Anil Kumar Bansal

Sri. Punit Choudhari Daughter''s husband of Sri. Anil Kumar Bansal

Smt. Shashi Gupta Sister of Sri. Anil Kumar Bansal

Sri. Narendra Kumar Gupta Sister''s husband of Sri.Anil Kumar Bansal

Sri. Manoj Kumar Bansal Brother of Sri.Anil Kumar Bansal

Smt. Sushma Gupta D/o Sri.R P Bansal

Sri. Amber Bansal S/o Sri.Devakar Bansal

iii Disclosure in respect of Material related party transaction during the year

1 Purchase / Material Consumed include Rs.628.87 lacs(Rs. 578.35 lacs) from M/s. Bansal Chemicals (India), Rs.NIL (Rs.0.50 lacs) from M/s. Ardee Industries Pvt. Ltd and Rs.NIL (Rs.1.53 lacs) from M/s. Bansal Metalic Oxides.

2 Sale include Sale of Rs. 12.43 lacs (Rs. 13.41 lacs) to M/s.Ardee Industries Pvt. Ltd., Rs.584.30 lacs (Rs.626.38 lacs) to M/s. Bansal Chemicals (India) and Rs. 9.13 lacs (Rs.24.25 lacs) to M/s. Bansal Metalic Oxides.

3 Conversion Charges paid include Rs.23.21 lacs (Rs.18.07 lacs) to M/s. Ardee industries Pvt.Ltd and Rs. 68.62 lacs (Rs.62.74 lacs) to M/s. Bansal Metalic Oxides.

4 Remuneration paid include Rs. 39.57 lacs (Rs.35.98 lacs) to Sri.Anil Kumar Bansal, Rs.32.26 lacs (Rs. 29.62 lacs) to Sri.Sunil Kumar Bansal; Rs.31.06 lacs (Rs.28.41 lacs) to Sri. R P Bansal, Rs.29.50 lacs (Rs.27.49 lacs) to Sri. Devakar Bansal, Rs.9.97 lacs (Rs.9.35 lacs) to Sri. Y.V. Raman, Rs.29.14 lacs (Rs.24.61 lacs) to Sri.Ashish Bansal.

5 Interest paid include Rs.13.39 lacs (Rs.11.52 lacs) to M/s. Ardee Industries Pvt. Ltd., Rs.8.91 lacs (Rs.11.31 lacs) to M/s.Daman Metalic Oxides , Rs. 1.29 lacs (Rs. 2.37 lacs) to M/s. Rajendra Metchem, Rs.6.91 lacs (Rs.5.54 lacs) to Dr. Padam C Bansal, Rs.5.85 lacs (Rs.6.10 lacs) to Sri.Anil Kumar Bansal, Rs.NIL (Rs.0.89 lacs) to Sri. Sunil Kumar Bansal, Rs.14.52 lacs (Rs.6.44 lacs) to Sri.R P Bansal, Rs.1.00 lacs (Rs.15.57 lacs) to Sri.Devakar Bansal, Rs.8.27 lacs (Rs.2.77 lacs) to Sri.Ashish Bansal, Rs. 0.06 lacs ( Rs.0.06 lacs ) to Sri. Y.V.Raman, Rs.12.91 lacs (Rs.11.78 lacs) to Smt.Vijaya Bansal, Rs.2.50 lacs (Rs.1.27 lacs) to Smt.Manju Bansal, Rs.NIL (Rs.1.73 lacs) to Smt.Neelam Bansal, Rs.3.62 lacs (Rs.1.45 lacs) to Smt.Saroj Bansal, Rs.1.73 lacs (Rs. 2.54 lacs) to Smt.Megha Choudhari, Rs.3.65 lacs (Rs.3.43 lacs) to Smt.Charu Bansal, Rs.NIL (Rs.0.19 lacs ) to Sri.Harsh Bansal, Rs.1.09 lacs (Rs.0.99 lacs) to Sri.Pawan Bansal, Rs.NIL (Rs.0.47 lacs) to Sri.Sagar Bansal, Rs.1.20 lacs (Rs.1.20 lac) to Smt.Sashi Gupta,Rs.0.38 lacs (Rs.0.38 lacs) to Sri.Narendra Kumar Gupta, Rs.0.37 lacs (Rs.1.73 lacs ) to Smt.Vandana Bansal and Rs.0.58 lacs (Rs.0.13 lacs) to Sri. Punit Choudhari Rs.0.11 lacs (Rs. NIL) to Sri. Amber Bansal, Rs.0.20 lacs (Rs. NIL) to Sri. Manoj Kumar Bansal, Rs.0.59 lacs (Rs. NIL) to Smt. Sushma Gupta.

6 Sales and distribution expenses represents Rs. 16.81 lacs ( Rs.22.50 lacs) paid to M/s. Bansal Chemicals (India), Rs. 0.20 lacs (Rs. NIL) paid to M/s. Ardee Industries Pvt. Ltd.

7 Inter Corporate Deposit Paid Rs.17.58 lacs (Rs.15.69 Lacs) to M/s. Ardee Industries Pvt. Ltd.

8 Inter Corporate Deposit Received Rs.10.21 lacs (Rs.26.05 lacs) from M/s. Ardee Industries Pvt Ltd.

9 Loan taken include Rs. 25.00 lacs (Rs.NIL) from M/s. Daman Metalic Oxides, Rs.NIL (Rs.12.55 lacs) from Dr.Padam C Bansal, Rs.73.58 lacs (Rs.104.75 lacs) from Sri.Anil Kumar Bansal, Rs.NIL (Rs. 18.50 lacs) from Sri. Sunil Kumar Bansal, Rs.114.75 lacs (Rs.114.50 lacs) from Sri.R P Bansal, Rs.NIL (Rs. 67.00 lacs) from Sri. Devakar Bansal, Rs. 122.47 lacs (Rs.51.50 lacs) from Sri.Ashish Bansal, Rs.72.50 lacs (Rs.30.50 lacs) from Smt.Manju Bansal,Rs.30.50 lacs (Rs. 11.25 lacs) from Smt.Charu Bansal and Rs.44.00 lacs (Rs.76.50 lacs) from Smt.Megha Choudhary, Rs.64.00 lacs (Rs.20.00 lacs) from Smt.Saroj Bansal, Rs.10.50 lacs (Rs. 84.50 lacs) from Smt.Vandana Bansal, Rs. NIL (Rs.2.50 lacs) from Sri. Pawan Bansal, Rs. NIL (Rs.51.00 lacs) from Smt. Neelam Bansal and Rs. 5.00 lacs (Rs. 2.00 lacs) from Sri. Punit Choudhari and Rs. NIL (Rs. 4.00 lacs) from Sri.Sagar Bansal and Rs.1.25 lacs (Rs. NIL) from Smt. Vijaya Bansal, Rs. 5.22 lacs (Rs. NIL) from Smt. Sushma Gupta.

10 Loan paid Include Rs. NIL (Rs.50.00 lacs) to M/s. Daman Metalic Oxides, Rs. 3.25 lacs (Rs.NIL) to Dr. Padam C Bansal, Rs.107.35 lacs (Rs.169.97 lacs) to Sri. Anil Kumar Bansal, Rs.NIL (Rs.18.50 lac) to Sri. Sunil Kumar Bansal, Rs.91.45 lacs (Rs. 87.80 lacs) to Sri.Devakar Bansal Rs.93.30 lacs (Rs. 90.46. lacs) to Sri. R P Bansal, Rs. 143.95 lacs (Rs.48.02 lacs) to Sri. Ashish Bansal, Rs.NIL (Rs.51 lacs) to Smt.Neelam Bansal, Rs.90.87 lacs (Rs.18.88 lacs) to Smt.Manju Bansal, Rs.30.50 lacs (Rs.38.00 lacs) to Smt.Charu Bansal, Rs.54.94 lacs (Rs. 82.99 lacs) to Smt.Megha Choudhari, Rs.62.30 lacs (Rs.24.50 lacs) to Smt.Vandana Bansal, Rs.81.61 lacs (Rs.13.11 lacs) to Smt.Saroj Bansal, Rs. NIL (Rs. 4.00 lacs) to Sri. Sagar Bansal and Rs. NIL (Rs.2.27 lacs) to Smt. Sashi Gupta.

11 Trade and other payable Include Rs.91.83 lacs (Rs.65.93 lacs) to M/s.Daman Metalic Oxides, Rs.NIL (Rs.3.30 lacs) to M/s.Bansal Metallic Oxide, Rs. 119.33 lacs (Rs. NIL) to M/s.Bansal Chemicals (India), Rs. 10.00 lacs (Rs. NIL) to M/s. Rajendra Metchem, Rs. NIL ( Rs.45.72 lacs) to Sri. Anil Kumar Bansal; Rs.NIL (Rs.113.83 lacs) to Sri.Devakar Bansal, Rs.55.33 lacs (Rs.58.58 lacs) to Dr.Padam C Bansal, Rs.100.00 lacs (Rs.56.29 lacs) to Sri.R P Bansal, Rs. NIL (Rs.0.81 lacs) to Sri. Sunil Kumar Bansal, Rs.NIL (Rs.26.83 lacs) to Sri.Ashish Bansal, Rs.0.50 lacs (Rs.0.50 lacs) to Sri.Y.V. Raman, Rs.107.68 lacs (Rs.106.43 lacs) to Smt.Vijaya Bansal, Rs.NIL (Rs. 0.79 lacs) to Smt.Neelam Bansal, Rs.NIL (Rs.19.90 lacs) to Smt.Manju Bansal, Rs.9.12 lacs (Rs. 9.12 lacs) to Sri. Pawan Bansal, Rs.Nil (Rs.13.74 lacs) to Smt.Megha Choudhari, Rs.10.50 lacs (Rs. 64.03 lacs ) to Smt.Vandana Bansal, Rs.10.00 lacs ( Rs. 10.00 lacs) to Smt.Sashi Gupta, Rs.NIL (Rs.19.91 lacs) to Smt.Saroj Bansal, Rs.NIL (Rs. 0.79 lacs) to Smt.Neelam Bansal, Rs.3.19 lacs (Rs.3.19 lacs) to Sri. Narendra Kumar Gupta, Rs 7.11 lacs (Rs.NIL) to Sri. Punit Choudhari, Rs 0.90 lacs (Rs.NIL) to Sri. Amber Bansal, Rs 1.61 lacs (Rs.NIL) to Sri. Manoj Kumar Bansal and Rs 5.22 lacs (Rs.NIL) to Smt.Sushma Gupta.

12 Trade and other Receivables includes Rs.79.27 (Rs.87.61 lacs) from M/s. Bansal Chemicals (India).

13 Inter Corporate Deposit outstanding include Rs.104.97 lacs (Rs.112.34 lacs) payable to M/s. Ardee Industries Pvt Ltd.

14 Pondy Oxides and Chemicals Ltd has given Corporate Guarantee of Rs. 30.00 lacs (Rs. 30.00 lacs) to M/s. POCL Enterprises Ltd.

15.0 Contigent Liabilities and Commitments (Rs. in Lakhs)

(A) Contigent Liabilities

Particulars As at 31 March, As at 31 March, 2014 2013

(I) (i) Gurantees to bank and Financial Institutions against credit facilities extended to subsidiary company 30.00 30.00

(ii) Performance/ Finance Guarantees 25.00 1.36

(iii) Other Money for which the company is contingently liable

(a) Liability in Respect of LC Opened 608.30 138.60

(b) Liability in respect of Bills Discounted with Banks 542.93 814.38

(II) Commitments

(a) Estimated amount of contracts remaining to be executed on capital account and not provided for 310.55 27.25

16.0 The Ministry of Corporate Affairs, Government of India, vide General Circular No.2 and 3 dated 8th February 2011 and 21st February 2011 respectively has granted a general exemption from complaince with section 212 of the Companies Act, 1956, subject fulfillment of conditions stipulated in the circular. The Company has satisfied the conditions stipulated in the circular and hence is entitled to the exemption. Necessary information relating to the subsidiaries has been included in the Consolidated Financial Statements.

17.0 Previous year figures have been regrouped/rearranged wherever necessary.

Notes:

1. Ministry of Corporate Affairs, Government of India has granted a general exemption through its General Circular No: 2/2011 dated 8th February, 2011 from the applicability of the provisions of sub- section [1] of section 212 of the Companies Act, 1956.

2. The company will make available the annual accounts of the subsidiary companies and related detailed information if sought by the members of the company or its subsidiaries. Further, the annual accounts of the subsidiary companies will also be kept for inspection by any member of the company or its subsidiary at the Registered Office of the company and that of the subsidiary companies concerned.


Mar 31, 2013

1.1 Defined Benefit Plan :

The Employee''s gratuity liability has been made on actuarial basis . The Present value of obligation is determined by using the Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

2.0 (i) Related Party Disclosures

In accordance with Accounting Standard 18, the disclosure required is given below

(a) Name of the related parties and relationship

Subsidiary: M/s POCL Enterprises Limited.

(b) Other related enterprises

M/s. Ardee Industries Private Limited M/s. Bansal Metalic Oxides M/s. Bansal Chemicals (India) M/s. Daman Metalic Oxides

iii Disclosure in respect of Material related party transaction during the year

1 Purchase / Material Consumed include Rs.578.35 lacs(Rs. 1257.94 lacs) from M/s. Bansal Chemicals (India), Rs.0.50 lacs (Rs.1.25 lacs) from M/s. Ardee Industries Pvt. Ltd and Rs.1.53 lacs (Nil) from M/s. Bansal Metalic Oxides.

2 Sale include sale of Rs. 13.41 lacs (Rs. 10.35 lacs) to M/s.Ardee Industries Pvt. Ltd, Rs.626.38 lacs (Rs.434.97 lacs) to M/s. Bansal Chemicals (India) and Rs. 24.25 lacs (Rs.24.88 lacs) to M/s. Bansal Metalic Oxides.

3 Conversion Charges paid include Rs.18.07 lacs (Rs.4.09 lacs) to M/s. Ardee Industries Pvt.Ltd and Rs. 62.74 lacs (Rs.48.63 lacs) to M/s. Bansal Metalic Oxides.

4 Remuneration paid include Rs. 35.98 lacs (Rs.34.35 lacs) to Sri.Anil Kumar Bansal, Rs.29.62 lacs (Rs. 28.21) to Sri.Sunil Kumar Bansal; Rs.28.41 lacs (Rs.28.04 lacs) to Sri. R. P. Bansal, Rs.27.49 lacs (Rs.26.33 lacs) to Sri. Devakar Bansal, Rs.9.35 lacs (Rs.8.4 lacs) to Sri. Y.V. Raman, Rs.24.61 lacs (24.60) to Sri.Ashish Bansal.

5 Interest paid include Rs.11.52 lacs (Rs.8.89 lacs) to M/s. Ardee Industries Pvt. Ltd, Rs.11.31 lacs (Rs.6.39 lacs) to M/s. Daman Metalic Oxides, Rs. 2.37 lacs (Rs.0.66 lacs) to M/s. Rajendra Metchem, Rs.5.54 lacs (Rs.4.02 lacs) to Dr. Padam C Bansal, Rs.6.10 lacs (Rs.7.19 lacs) to Sri.Anil Kumar Bansal, Rs.0.89 lacs (Rs.0.16 lacs) to Sri. Sunil Kumar Bansal, Rs.6.44 lacs (Rs.2.17 lacs) to Sri.R. P. Bansal, Rs.15.57 lacs (Rs.9.30 lacs) to Sri.Devakar Bansal, Rs.2.77 lacs (Rs.3.16 lacs) to Sri.Ashish Bansal, Rs. 0.06 lacs (Rs.0.07 lacs) to Sri. Y.V. Raman, Rs.11.78 lacs (Rs.10.87 lacs) to Mrs.Vijaya Bansal, Rs.1.27 lacs (Rs.0.43 lacs) to Mrs.Manju Bansal, Rs.1.73 lacs (Rs.1.37 lacs) to Mrs.Neelam Bansal, Rs.1.45 lacs (Rs.1.10 lacs) to Mrs.Saroj Bansal, Rs.2.54 lacs (Rs.0.58 lacs) to Mrs.Megha Choudhari, Rs.3.43 lacs (Rs.3.13 lacs) to Mrs.Charu Bansal, Rs.0.19 lacs (0.19) to Sri.Harsh Bansal, Rs.0.99 lacs (Rs.0.84 lacs) to Sri.Pawan Bansal, Rs.0.47 lacs (Rs.0.27 lacs) to Sri.Sagar Bansal, Rs.1.20 lacs (Rs.1.26 lacs) to Mrs.Sashi Gupta, Rs.0.38 lacs (Rs.0.38 lacs) to Sri.Narendra Kumar Gupta, Rs.1.73 lacs (Rs.0.20 lacs) to Mrs. Vandana Bansal and Rs.0.13 lacs (Nil) to Sri. Punit Choudhari.

6 Sales and distribution expenses represents Rs. 22.50 lacs (Rs.14.52 lacs) paid to M/s. Bansal Chemicals (India).

7 Inter corporate deposit paid Rs.15.69 lacs (Rs.44.62 Lacs) to M/s. Ardee Industries Pvt. Ltd.

8 Inter corporate deposit received Rs.26.05 lacs (Rs.43 lacs) from M/s. Ardee Industries Pvt Ltd.

9 Loan taken include Nil (Rs.50 lacs) from M/s. Daman Metalic Oxides, Rs.12.55 lacs (Rs. 5.60 lacs) from Dr.Padam C Bansal, Rs.104.75 lacs (Rs.142.00 lacs) from Sri.Anil Kumar Bansal, Rs.18.50 lacs (Rs. 13.50 lacs) from Sri. Sunil Kumar Bansal, Rs.114.50 lacs (Rs.71.50 lacs) from Sri.R. P. Bansal, Rs.67.00 lacs (Rs. 128.25 lacs) from Sri. Devakar Bansal, Rs. 51.50 lacs (Rs. 64.00 lacs) from Sri.Ashish Bansal, Rs.30.50 lacs (Rs. 7.75 lacs) from Mrs.Manju Bansal, Rs.11.25 lacs (Rs. 29.25 lacs) from Mrs.Charu Bansal and Rs.76.50 lacs (Rs.18.00 lacs) from Mrs.Megha Choudhari, Rs.20.00 lacs (Rs.2.90 lacs) from Mrs.Saroj Bansal, Nil (Rs. 4.20 lacs) from Sri. Harsh Bansal, Rs.84.50 lacs (Rs. 3.60 lacs) from Mrs.Vandana Bansal, Rs. 2.50 lacs (Nil) from Sri. Pawan Bansal. Rs. 51.00 lacs (Nil) from Mrs.Neelam Bansal, Rs. 2.00 lacs (Nil) from Sri. Punit Choudhari and Rs.4.00 lacs (Nil) from Sri.Sagar Bansal.

10 Loan paid Include Rs. 50 .00 lacs (Nil) to M/s. Daman Metalic Oxides, Nil (Nil) to Dr. Padam C Bansal, Rs.43.00 lacs (Rs. 43.00 lacs) to Sri. Anil Kumar Bansal, Rs.13.50 lacs (Rs.13.50 lacs) to Sri. Sunil Kumar Bansal, Rs.16 lacs (Rs. 16.00 lacs) to Sri.Devakar Bansal, Rs.12.00 lacs (Rs. 12.00 lacs) to Sri. R P Bansal, Rs.0.50 lacs (Rs.0.50 lacs) to Sri Y.V.Raman, Nil (Nil) to Sri. P.N.Sridharan, Rs.46.00 lacs (Rs.46.00 lacs) to Sri. Ashish Bansal, Rs.51.00 lacs (Rs.10.00 lacs) to Mrs.Neelam Bansal, Rs.18.88 lacs (Rs.1.00 lac) to Mrs.Manju Bansal, Rs.38.00 lacs (Rs.2.50 lacs) to Mrs.Charu

Bansal, Rs.82.99 lacs (Rs. 3.00 lacs) to Mrs.Megha Choudhari, Rs.24.50 lacs (Rs.1.30 lacs) to Mrs.Vandana Bansal, Nil (Rs. 2.95 lacs) to Sri. Harsh Bansal, Rs.13.11 lacs (Rs.1.10 lacs) to Mrs.Saroj Bansal, Nil (Rs. 0.34 lacs) to Sri. Narendra Kumar Gupta, Rs. 4.00 lacs (Nil) to Sri. Sagar Bansal and Rs. 2.27 lacs (Nil) to Mrs. Sashi Gupta.

11. Trade and other payable include Rs.65.93 lacs (Rs.105.76 lacs) to M/s.Daman Metalic Oxides, Nil (Rs.1.40 lacs) to M/s.Ardee Industries Pvt Ltd, Rs.3.30 lacs(Rs. 5.63 lacs ) to Bansal Metalic Oxides and Nil (Rs 0.98 lacs) to Bansal Chemicals (India), Rs. 45.72 lacs (Rs. 105.47) to Sri. Anil Kumar Bansal; Rs.113.83 lacs (Rs.120.62) to Sri.Devakar Bansal, Rs.58.58 lacs (Rs.42.15 lacs) to Dr.Padam C Bansal, Rs.56.29 lacs (Rs.67.04 lacs) to Sri.R. P. Bansal, Rs. 0.81 lacs (Nil) to Sri. Sunil Kumar Bansal, Rs.26.83 lacs (Rs.20.85 lacs) to Sri.Ashish Bansal, Rs.0.50 lac (Rs.0.50 lac) to Sri.Y.V. Raman, Rs.106.43 lacs (Rs. 98.18 lacs) to Mrs.Vijaya Bansal, Rs.0.79 lacs (Rs. 7.35 lacs) to Mrs.Neelam Bansal, Rs.19.90 lacs (Rs.7.13 lacs) to Mrs.Manju Bansal, Rs.9.12 lacs (Rs. 8.29 lacs) to Mr.Pawan Bansal, Nil (Rs. 29.57 lacs) to Mrs.Charu Bansal, Rs.13.74 lacs (Rs. 17.95 lacs) to Mrs.Megha Choudhari, Rs.64.03 lacs (Rs. 2.47 lacs) to Mrs.Vandana Bansal, Nil (Rs. 1.62 lacs) to Sri.Harsh Bansal, Nil (Rs. 2.51 lacs) to Sri.Sagar Bansal, Rs.10.00 lacs (Rs. 11.72 lacs) to Mrs.Sashi Gupta, Rs.19.91 lacs (Rs.11.70 lacs) to Mrs.Saroj Bansal, Rs.0.79 lacs (Rs. 7.35 lacs) to Mrs.Neelam Bansal and Rs.3.19 lacs (Rs.3.19 lacs) to Sri.Narendra Kumar Gupta.

12 Trade and other receivables includes Rs. 87.61 lacs (Nil) from M/s. Bansal Chemicals (India),

13 Inter corporate deposit outstanding include Rs. 112.34 lacs (Rs. 91.62 lacs) payable to M/s Ardee Industries Pvt. Ltd.

14 Pondy Oxides and Chemicals Ltd has given Corporate Guarantee of Rs. 30 lacs (Rs. 30.00 lacs) to M/s. POCL Enterprises Ltd.

3.0 Contigent Liabilities and Commitments (Rs. in Lakhs)

(A) Contigent Liabilities

Particulars As at 31 March, As at 31 March, 2013 2012

(I) (i) Gurantees to bank and Financial Institutions against credit facilies extended to third parties 30.00 30.00 (ii) Performance Guarantees 1.36 3.86

(iii) Other Money for which the company is contingently liable 138.60 793.70

(iv) Liability in respect of Bills Discounted with Banks 814.38 340.55

(II) Commitments

Estimated amount of contracts remaining to be executed on capital account and not provided for 27.25 20.50

4.0 The Ministry of Corporate Affairs, Government of India, vide General Circular No.2 and 3, dated 8th February 2011 and 21st February 2011 respectively has granted a general exemption from compliance with section 212 of the Companies Act, 1956, subject fulfillment of conditions stipulated in the circular. The Company has satisfied the conditions stipulated in the circular and hence is entitled to the exemption. Necessary information relating to the subsidiaries has been included in the Consolidated Financial Statements.

5.0 Previous year figures have been regroped/rearranged wherever necessary.


Mar 31, 2012

Particulars As at 31st March, As at 31st March, 2012 2011

1 Contingent Liaibilites and Commitments

(A)Contingent Liaibilites

(I) (i) Guarantees to Bank and Financial Institutions against credit facilites extended to third parties 30.00 1430.00

(ii) Performance Guarantees 3.86 3.86

(iii) Other Money for which the company is contingently liable 793.70 220.69

(iv) Liability in respect of Bills Discounted with Banks 340.55 670.56

(II) Commitments

(a) Estimated amount of contracts remaining to be executed on capital account and not provided for 20.50 39.22

2. The Ministry of Corporate Affairs, Government of India, vide General Circular No.2 and 3 dated 8th February 2011 and 21 st February 2011 respectively has granted a general exemption from compliance with section 212 of the Companies Act, 1956, subject fulfillment of conditions stipulated in the circular. The Company has satisfied the conditions stipulated in the circular and hence is entitled to the exemption. Necessary information relating to the subsidiary has been included in the Consolidated Financial Statements.

3. The financial results of the current period are not strictly comparable with the corresponding period due to consoildation of results of M/s. Lohia Metals Pvt. Ltd effective from 01.04.2011 pursuant to the , merger of the latter with the Company vide the order of the Honourable High Court of Madras dated 12th March 2012.

4 Previous year figures have been regrouped/rearranged wherever necessary, due to amalgamation previous year figures are not comparable.


Mar 31, 2011

1. Contingent liabilities not provided for: (Rs. in lakhs)

S. No Nature of Contingency Current year figure Last year figure

1. Letter of Credit 220.69 520.59

2. Capital WIP 39.22 35.00

2. All secured loans availed from the banks are personally guaranteed by four Promoter Whole Time Directors.

3. The Company has given Corporate Guarantee of Rs.1430 lakhs (Rs.30 lakhs) on behalf of Subsidiary Companies M/s. POCL Enterprises Limited (formerly known as Baschem Pharma Limited) and M/s. Lohia Metals Pvt. Ltd

4. Sundry debtors of Rs.1.88 lakhs (Rs. 10.30 lakhs), being non-recoverable has been written off as bad debts.

5. Auditors Remuneration

Statutory Audit : Rs. 3.50 lakhs (Rs.2.00 lakhs)

TaxAudit : Rs. 0.50 lakhs (Rs.0.50 lakhs)

Others : Rs. 0.74 lakhs (Rs.0.14 lakhs)

6. CIF Value of Imports.

Raw Materials : Rs. 11369.57 lakhs (Rs.8623.53 lakhs)

7. Expenditure in Foreign Currencies on Cash Basis Travelling Expenses : Rs. 6.85 lakhs (Rs. 1.92 lakhs)

8. Earnings in Foreign Exchange.

Sales :Rs. 12,673.47 lakhs (Rs. 5088.48 lakhs)

9. Remuneration to Managing Director and Whole Time Directors :

Salary : Rs 45.00 lakhs (Rs 39.20 lakhs)

Perquisites : Rs.31.43 lakhs (Rs. 13.90 lakhs)

10. Related party transactions

In accordance with Accounting Standard 18, the disclosure required is given below

1. Name of the related parties and relationship

Subsidiary: M/s POCL Enterprises Limited. (Formelly known as Baschem Pharma Limited) M/s.Lohia Metals Private Limited.

2. Other related enterprises

M/s. Ardee Industries Private Limited.

M/s. Bansal Metallic Oxides

M/s. Bansal Chemicals (India)

M/s. Daman Metallic Oxides

3. Key Management Personnel

S.No Name Designation

1 Sri. PadamC. Bansal Chairman

2 Sri. Anil Kumar Bansal Managing Director

3 Sri. Sunil Kumar Bansal Whole Time Director

4 Sri. R.P.Bansal Whole Time Director

5 Sri. Devakar Bansal Whole Time Director

6 Sri. Y.V.Raman Whole Time Director

7 Sri. Ashish Bansal , Director

4. Relatives of Key Management Personnel

S.No Name Name of the relative

1 Sri. Pawan Bansal S/o. Sri.R.P.Bansal

2 Smt. Manju Bansal W/o. Sri.Anil Kumar Bansal

3 Smt. Neelam Bansal W/o. Sri.Sunil Kumar Bansal

4 Smt. Saroj Bansal W/o. Sri.R.P.Bansal

5 Smt. Vandana Bansal W/o. Sri.Devakar Bansal

6 Smt. Shashi Gupta Sister of Sri.Anil Kumar.Bansal

7 Sri. Narendra Kumar Gupta Sister's husband of Sri Anil Kumar. Bansal

11. During the year the Board of directors of the Company has approved the merger of its subsidiary company M/s Lohia Metals Private Limited with holding company M/s Pondy Oxides and Chemicals Limited on 18/03/2011 subject to the approval of the Honorable High Court of Madras as required under Section 391-394 of the Companies Act ,1956 with 2 fully paid equity share of Rs 10/- each of M/s Lohia Metals Private Limited be exchanged with 5 fully paid equity shares of Rs 10/- each of M/s Pondy Oxides and Chemicals Limited.

12. The company has not received the information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure relating to amounts unpaid as at the year end has not been given.

13. Balance in Sundry Debtors/ Creditors and advances amount are subject to confirmation.

14. General:

i. Previous year's figures have been regrouped wherever necessary

ii. A figure in brackets represents previous year figures.

iii. Figures have been rounded off to the nearest rupee.

iv. Schedules 1 to 18 and accounting policies and notes (schedule-19) annexed to this Balance sheet and Profit and Loss account form part of the accounts and should be read in conjunction therewith.


Mar 31, 2010

1. Contingent Liabilities not. provided for [Rs in Lakhs]

S.No Nature of contingency Current year figure Last year figure

1. Letter of Credit 117.78 379.77

2. Capital WIP 35.00 28.81

3. CST Payable 6.49 6.49

2 All secured loans availed, from the banks are personally guaranteed by four Promoter Whole Time Directors.

3. The Company has given Corporate Guarantee of Rs.30 lakhs [Rs.30 lakhs] on behalf of Subsidiary Company M/s. Baschem Pharma Limited.

4. Sundry debtors of Rs.10.30 Lakhs [Rs.0.76 Lakhs], being non-recoverable has been written off as bad debts.

5. Unutilized DEEC license on account ofdeemed exports outstanding at the year-end is Rs. Nil [Rs.54.89 Lakhs].

6. Auditors Remuneration

Statutory Audit : Rs. 2.00 Lakhs [Rs.2.00 Lakhs]

Tax Audit : Rs. 0.50 Lakhs [Rs.0.50 Lakhs]

Others . Rs. 0.14 Lakhs [Rs.0.31 Lakhs]

7. CIF Value of Imports

Raw Materials : Rs. 8,623.53 Lakhs [Rs.5, 492.83 Lakhs]

8. Expenditure in Foreign currencies on cash basis

Travelling expenses : Rs. 1.92 Lakhs [Rs.3.61 Lakhs]

9. Earnings in Foreign exchange

Sales :Rs. 5,088.48 Lakhs {Rs. 1,664.74 Lakhs]

10. Remuneration to Managing Director and Whole Time Directors

Salary : Rs. 39.20 Lakhs [Rs. 34.82 Lakhs]

Perquisites : Rs. 13.90 Lakhs [Rs. 14.20 Lakhs]

11. Related Party Transactions

In accordance with Accounting Standard 18, the disclosure required is given below

1. Name of the related Parties and relationship Subsidiary: M/s Baschem Pharma Limited

M/s.Lohia Metals Private Limited

2. Other related enterprises

M/s. Ardee Industries Private Limited

M/s. Bansal Metallic Oxides

M/s. Bansal Chemicals [India]

3. Key Management Personnel

S.No Name Designation

1. Sri. Padam C.Bansal Chairman

2. Sri. Anil Kumar Bansal Managing Director

3. Sri. Sunil Kumar Bansal Whole Time Director

4. Sri. R.P. Bansal Whole Time Director

5. Sri. Devakar Bansal Whole Time Director

6. Sri. Y.V.Raman Whole Time Director

7. Sri. Ashish Bansal Director

4. Relatives of Key Management Personnel

S.No Name Relationship

1. Sri. Pawan Bansal S/o. Sri.R.P.Bansal

2. Smt. Manju Bansal W/o. Sri.Anil Kumar Bansal

3. Smt. Neelam Bansal W/o. Sri.Sunil Kumar Bansal

4. Smt. Saroj Bansal W/o. Sri.R.P.Bansal

5. Smt. Vandana Bansal W/o. Sri.Devakar Bansal

6. Smt. Shashi Gupta Sister of Sri.Anil Kumar.Bansal

7. Sri. Narendra Kumar Gupta Sisters husband of Sri. Anil Kumar Bansal 12. The company has not received the information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure relating to amounts unpaid as at the year end have not been given.

13. Balance in Sundry Debtors/ Creditors and advances amount are subject to confirmation.

14. General

i. Previous years figures have been regrouped wherever necessary

ii. Figures in brackets represent previous year figures.

iii. Figures have been rounded off to the nearest rupee.

iii. Schedules 1 to 18 and accounting policies and notes [Schedule-19] annexed to this Balance Sheet and Profit and Loss Account form part of the accounts and should be read in conjunction therewith.


Mar 31, 2000

1. Excise duty liability on finished goods as on 31.03.2000 is Rs. 12.83 lacs (Rs. 14.94 lacs) not provided in the accounts, as per Schedule 20(4) of Accounting policies and this has no effect on Profit and Loss Account.

2. Estimated amount ofcontingent liability on Bank Guarantee and Letter of credit availed is Rs.74.46 lacs (Rs.58.86 lacs).

3. (a) Bills discounted with Canara Bank secured by way of hypothecation of stocks, book debts and first charge of factory land, building and plant and machinery subject to a maximum limit of Rs.100 lacs (Rs. 150 lacs) is Rs.95.90 lacs (Rs.167.78 lacs).

(b) All secured loans availed from the Banks are personally guaranteed by five Directors.

4. Guarantees given on behalf of Subsidiary Company M/s Baschem Pharma Limited in respect of loans and advances granted to it by bank is Rs.44 lacs (Rs.44 lacs).

5. Estimated amount of contract remaining to be executed on capital account and not provided for is Rs.5.25 lacs (Rs.0.55 lacs).

6. Sundry Debtors, includes Rs.9,83,626/- (Rs.9,25,438/-) overdue and pending receivable in respect of which the company has filed a suit for recovery as per the advice of the companys Legal Advisor and in their opinion are recoverable. Further Rs.8,280/- (Rs. 95,199/-) non-recoverable has been written off as bad debts and an amount of Rs.Nil (Rs. 2,43,238/-) has been provided as doubtful debts in the current year.

7. The basis of valuation of inventories during the year conform to the revised accounting standard on the valuation of inventories (AS2) issued by the Institute of Chartered Accountants of India which became effective on 1 st April 1999. The effect of changes in value of inventories and profit for the year is Nil.

8. CIF value of Imports

Raw Materials: Rs.2,81,51,858/-(Rs.2,96,58,877).

9. Expenditure inforeign currencies Travelling expenses : Rs.1,34,030 (Nil)

10. Earnings in Foreign Exchange

Export of Metallic Oxides: Rs.98,095/- (Nil)

11. Remuneration to Managing director and Wholetime directors Salary Rs. 9,00,000/- (Rs.8,28,000/-) Perquisites Rs. 2,42,300/- (Rs.3,57,386/-)

12. In view of the insufficient information from the suppliers regarding their status as SSI units, the amount due to small scale industrial undertaking cannot be ascertained.

13. Balance in Sundry Debtors/Creditors and advances amount are subject to confirmation.

14. General

i. Previous years figures have been regrouped wherever necessary

ii. Figures have been rounded off to the nearest rupee.

iii. Schedules 1 to 19 and accounting policies and notes (schedule-20) annexed to this Balance Sheet and Profit and Loss Account form part of the accounts and should be read in conjunction therewith.

 
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