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Notes to Accounts of Raj Agro Mills Ltd.

Mar 31, 2010


i) Letter of Credit outstanding Rs. 607.00 Lacs (Previous Year Rs. 1133.76 Lacs).

ii) Claims against the company not acknowledged as debt are:

- Sales Tax pending in appeals Rs.2.23 Lacs (Previous Year Rs. 2.23 lacs)

2. The Gratuity is being charged to profit & loss account in the year in which it is paid. The liability for gratuity as on 31/03/2010 is Rs.16.71,664/- (Previous year Rs. 12,04,923/-).

3. Sundry Debtors, Loans and Advances include a sum of Rs. 17,92,532/- recoverable as claim from certain parties which are considered doubtful, against which the management is taking effective steps for recovery.

4. In the opinion of the Board of Directors, the Current Assets, Loans and Advances have the value on realisation in the ordinary course of business at least equal to the amount at which they are stated except as expressly stated otherwise.

5. There are no Micro and Small Enterprises under The Micro, Small and Medium Enterprises Development Act, 2006 to whom the Company owes dues. The above information and that given in Sundry Liabilities - Schedule 11 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. This has been relied upon by the auditors.

6. Amounts Paid to Auditors:

i Statutory Auditors

Audit Fees Rs.33,090/-

Taxation/Other Matters Rs. 16.5457-

Total:- Rs.49.635/-

ii) Cost Audit Fees Rs.14.000/-

Others Matters Rs. 2.500/-


7. Segmental Information:

The Company is a single segment company engaged in manufacturing of hydrogenated vegetable oils and the related products like Vanaspati and Refined oils. Accordingly the disclosure requirement as prescribed in the Accounting Standard 17 on "Segment Reporting" issued by The Institute of Chartered Accountants of India is not applicable.

8. Deferred Income Tax: The company has considered deferred tax adjustments in accordance with Accounting Standard-22 on "Accounting for Taxes on Income" issued by The Institute of Chartered Accountants of India, after reviewing the status of the same as at the end of the accounting year, necessary differential adjustments has been reflected in profit & loss a/c for the current year.

9. Remuneration paid to Whole time directors) is Rs. 15,38,951/- (P.Y. 12,34,800/-).

10. Debit and credit balances, on whatever account, are subject to confirmation from the respective parties.

11. The previous year figures have been regrouped and recasted wherever necessary to make them comparable with the current year figures.

12. Additional information pursuant to para 3 & 4 of Part- II of schedule VI to the Companies Act, 1956 (to the extent applicable) is attached herewith.

13. Information pursuant to part IV of schedule VI to the Companies Act, 1956 is attached herewith.

14. Annexure from "1" to "22" including statement on Significant Accounting Policies form an integral part of the Balance Sheet and Profit & loss Account.

Oct 25, 12:00 am
Oct 25, 4:14 pm
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