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Notes to Accounts of Purity Flex Pack Ltd.

Mar 31, 2015

1. Terms / Rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share.

In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. Raw - materials consumed includes materials used for Job Work, which is very insignificant.

3. Previous year figures have been recast/restated to confirm to the classification of the current period.

4. Balance of Debtors, Creditors, Un-Secured Loan, Advances and Bank's Outstation Collection Accounts are subject to confirmation & reconciliation if any.

5. Related Party Disclosure

Disclosures as required by Accounting Standard 18 are given below:

Nature of Relationship Name of Related Party

Key Management Personnel Anil B Patel

Kunal A Patel

Other Parties which significantly Anupam Trading Company Influence/are influenced by the H S Bhatt Company (either individually or with others) Aman Enterprises

OM Suntronics Converting Equipments Kalpvrux Converting Products Pvt Ltd

Stag Print P Ltd

The following transaction were carried out with the Related Parties in Ordinary course of business.

Notes:

1 The above Cash flow statement has been prepared under the indirect method as set out in the AS - 3 Cash Flow Statements issued by the Institute of Chartered Accountant of India.

2 Cash and cash equivalents for the purposes of financial statement comprise cash in hand, balances with bank and Fixed deposits with bank as per Note No -14.

3 Purchase of fixed assets includes movements of capital work-in-progress (including Capital Advances) during the year.

4 Previous Year figures have been regrouped when necessary to conform to the year's classification.


Mar 31, 2014

1. Share Capital

a) Terms/Rights attached to equity shares

The Company has only one class of equity shares having a par value of '' 10 per share. Each holder of equity shares is entitled to one vote per share.

In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. Term Loans

a) Term Loan - HDFC Term Loan - Rs. 2.94 lacs (PY Rs. 3.74) secured by way of Hypothecation of Car of the Company. The Loan is repayable in equal monthly instalments each of Rs. 0.10 lacs along with Interest @ 12% p.a.

b) Term Loan - HDFC Term Loan II Rs. 6.61 lacs (PY Rs. 12.59 lacs) secured by way of Hypothecation of Car of the Company. The Loan is repayable in equal monthly instalments each of Rs. 0.58 lacs along with Interest @ 10% p.a.

c) Term Loan - HDFC Term Loan III Rs. 1.64 lacs (PY Rs. 3.11) secured by way of Hypothecation of Car of the Company. The Loan is repayable in equal monthly instalments each of Rs. 0.14 lacs along with Interest @ 11.01% p.a.

d) Term Loan - HDFC Term Loan IV Nil (PY Rs. 4.13 lacs) secured byway of Hypothecation of Car of the Company. The Loan is repayable in equal monthly instalments each of Rs. 0.39 lacs along with Interest @ 8.00% p.a.

e) Term Loan - HDFC Term Loan V Rs. 23.88 lacs (PY Nil) secured by way of Hypothecation of Car. The Loan is repayable in equal monthly instalments each of Rs. 0.90 lacs along with Interest @ 10.00% p.a.

f) Term Loan - HDFC Term Loan VI Rs. 10.00 lacs (PY Nil) secured by way of Hypothecation of Car. The Loan is repayable in equal monthly instalments each of Rs. 0.32 lacs along with Interest @ 10.25% p.a.

g) Term Loan - Axis Bank Term Loan I Rs. 1.01 lacs (PY Rs. 2.42 lacs) secured by way of Hypothecation of Car of the Company. The Loan is repayable in equal monthly instalments each of Rs. 0.13 lacs along with Interest @ 9.00% p.a.

h) Term Loan IV- Bank of Baroda Rs. 79.95 (PY Rs. 95.89 lacs) secured by way of Hypothecation of Plant & Machinery of the of the Company. Repayable in 60 monthly instalments of Rs. 2.92 lacs, interest rate @ 4.25% above Base Rate (i.e. 15%).

i) Term Loan - Kotak Mahindra Bank Ltd Rs. 61.44 lacs (PY Rs. 32.04 lacs) are clean business loan secured by way of personal guarantee of the directors of the company. The Loan is repayable in equal monthly instalments each of Rs. 1.79 lacs along with Interest @ 11.01% p.a.

j) Term Loan - Tata Capital Ltd Rs. 36.32 lacs (PY Rs. 11.49 lacs) are clean business loan secured by way of personal guarantee of the directors of the company. The Loan is repayable in equal monthly instalments each of Rs. 1.06 lacs along with Interest @ 11.01% p.a.

k) Term Loan - Magma Fincap Rs. 36.32 lacs (PY Nil) are clean business loan secured by way of personal guarantee of the directors of the company. The Loan is repayable in equal monthly instalments each of Rs. 1.58 lacs along with Interest @ 16.01% p.a.

l) All the facilities (funded & Non-funded) are further guaranteed by the Directors of the Company.

3. Short Term Liabilities

a) Working capital loans are secured by Hypothecation of entire raw materials, stock-in-process, stores & spares, packing materials, finished goods and Book-debts of the Company, both present & future. Interest is charged @ 4.25% above Base Rate (i.e. 15%).

4. Trade Payables

As informed to us, the company has not received any intimation from suppliers regarding their status under any Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with the interest paid/payable as required under the said Act has not been given.

5. Related Party Disclosure

Disclosures as required by Accounting Standard 18 are given below:

Nature of Relationship Name of Related Party

Key Management Personnel Anil B Patel

Kunal B Patel

Other Parties which significantly Anupam Trading Company Influence/are influenced by the Company (either individually or H S Bhatt with others) Stag Print P Ltd

6. Contingent Liabilities not provided for

Guarantee given by the banks for which the Company has given counter guarantee amounting to Rs. Nil (PY Rs. Nil).

Letter of Credit issued for purchase of Raw Materials Rs. Nil (PY Rs. Nil).

7. Raw - materials consumed includes materials used for Job Work, which is very insignificant.

8. Previous year figures have been recast/restated to confirm to the classification of the current period.

9. Balance of Debtors, Creditors, Un-Secured Loan, Advances and Bank''s Outstation Collection Accounts are subject to confirmation & reconciliation if any.


Mar 31, 2013

1 Contingent Liabilities not provided for

Guarantee given by the banks for which the Company has given counter guarantee amounting to Nil (PY Nil) Letter of Credit issued for purchase of Raw Materials Nil (PY Nil)

Raw - materials consumed includes materials used for Job Work, which is very insignificant hence not reported separately.

2 SSI Creditors

As required by the notification No. GSR 376 – E dated 22.05.2002 , issued by the Department of Company affairs, ministry of Law Justice and Company affairs Small Scale Industrial Undertaking to whom the company owes a sum which is outstanding for more than 30 days at the Balance Sheet date are Hindustan Tube, Ramdev Paper Box Ind., Stag Print P Ltd., Sundry Creditors – Schedule-6)These information determined on the basis of information available with the company.

3 Previous period figures have been recast/restated to confirm to the classification of the current period.

4 ''Balance of Debtors, Creditors, Un-Secured Loan, Advances and Bank''s Outstation Collection Accounts are subject to confirmation & modification,


Mar 31, 2011

1 Corresponding figures of previous year have been regrouped / rearranged to confirm with current year's grouping whenever necessary.

2 Balances of Debtors, Creditors and unsecured loans are subject to confirmation and reconciliation.

3 The company is accounting Purchase, Sales and Inventories in accordance with the provisions of section145A of The Income Tax Act, 1961 by including in the same, the amount of taxes, duties and other sums irrespective of the fact that the rebate for the same is available. The same method is not accordance with the guidance note issued by the ICAI. However, non-adherence to the said guidance has no impact on the Profit or Loss of the company for the period under consideration.

4 Contingent Liabilities not provided for Rs. Nil Check o/s L/C & Bank guarantee Nil

5 Remuneration to Auditors Audit & Tax audit Fees Rs. 0.62 Lacs (Rs. 0.52 Lacs)

6 SSI Creditor!

Balance of Debtors, Creditors, Un-Secured Loan, Advances and Bank's Outstation Collection Accounts are subject to confirmation & modification, As required by the notification No. GSR 376 - E dated 22.05.2002, issued by the Department of Company affairs , ministry of Law Justice and Company affairs Small Scale Industrial Undertaking to whom the company owes a sum which is outstanding for more than 30 days at the Balance Sheet date are Hindustan Tube Ramdev Paper Box lands Royal Inks and Resins P Ltd., Sundry Creditors - Schedule- 13)These information determined on the basis of information available with the company.

We have reviewed the attached Cash Flow Statement of PURITY FLEXPACK LTD. For the year ended on 31st March 2001 The preparation of the Cash Flow Statement is the responsibility of the Company. Our responsibility is to express our ' opinion on the Cash Flow Statement based on our review.

In our opinion the said Cash Flow Statement which is derived from financial statement of the company for that year read together with the notes thereon is in accordance with the requirement for cash flow Statements prescribed by the Security ' and Exchange Board of India.


Mar 31, 2010

1 Corresponding figures of previous year have been regrouped / rearranged to confirm with current years grouping whenever necessary.

2 Balances of Debtors, Creditors and unsecured loans are subject to confirmation and reconciliation.

3 The company is accounting Purchase, Sales and Inventories in accordance with the provisions of section 145A of the Income Tax Act, 1961 by including in the same, the amount of taxes, duties and other sums Irrespective of the fact that the rebate for the same Is available.The same method is not accordance with the guidance note issued by the ICAI. However, non-adherence to the said guidance has no impact on the Profit or Loss of the company for the period under consideration.

4 Contingent Liabilities not provided for Rs. Nil Check, o/s L/C & Bank guarantee Nit

5 Tax / FBT Provision 0.00 Lacs (Rs 0.87 Lacs)

6 Rernuneration?to Auditors Audit & Tax audit Fees Rs. 0.52 Lacs {Rs. 032 Lacs)

7 SSI Creditors

Balance of Debtors, Creditors, Un Secured Loan, Advances and Banks Quotation Collection Accounts are subject to confirmation & modification, As required by the notification No. GSR 376 - E dated 22.0S.2002, issued by the Department of Company affairs, ministry of Law Justice and Company affairs Small Scale Industrial Undertaking to whom the company owes a sum which is outstanding for more than 30 days at the Balance Sheet date are Excel Paper Core, Hindustan Tube, New Momai engg., Ramdev Paper Box Ind., Pelican Poly & Pallets, Royal Inks and Resins P Ltd., Sundry Creditors - These information determined on the basis of Information available with the company.

 
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