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Notes to Accounts of Ram Minerals & Chemicals Ltd.

Mar 31, 2014

Note 1: Corporate information

ICVL Chemicals Limited (the Company) is a Public Company and is incorporated under the provisions of The Comapnies Act,1956. The company is engaged in the Business of Trading in Chemicals, Trading in Shares.

1.2 As regards compliance of Provision as per the requirement of Sec 22 of the Micro, Small and Medium enterprises act 2006 relating to dues to the Micro, Small and Medium enterprises. The company has not received from any parties claim to be small scale industries and the said information is not given.

1.3 Segment Information

The company is operating only in one segment.

1.4 Related party disclusures under Accounting Standard – 18

List of Related Parties where Control exists:

Samruddhi Finstock Ltd Samruddhi Stock Brokers Ltd Samruddhi Tradecom India Ltd Bombay Exim Pvt Ltd

Jinal Finvest Pvt Ltd Jimeet Developers Pvt Ltd Ashwa Realty (India) Pvt Ltd

Galaxy Realty Pvt Ltd Niralee Properties Pvt Ltd

High Rise Realty Pvt Ltd Anish Properties Pvt Ltd

Saria Builders & Developers Pvt Ltd Piyali Builders & developers Pvt Ltd Rock Builders & Developers Pvt Ltd Win Sure Trade Invest Private Limited Hansa Villa Realty Private Limited ICVL Steels Ltd.

Intellivate Capital Advisors Ltd. Intellivate Capital Ventures Ltd.

Retirement Benefits

1.5 Long Term Employee Benefits are not provided because no employee has completed full year of service.

1.6 Provision for Taxes

Provision for current tax has been made as per the provisions of the Income Tax Act

1.7 In the opinion of Management, the Current Assets, Loans and Advances are approximately of the value as stated if realised in the ordinary course of business.

1.8 Balances standing to the debit/credit of parties is subject to confirmation by them and reviews by the Company. `

1.9 The figures of the previous year have been regrouped, rearranged and reclassified wherever necessary to conform to current year''s classification. `


Mar 31, 2013

Additional Disclosure 1(A):

NIL (During the previous financial year 3200992 Equity shares of Rs. 10/- each had been allotted as fully paid-up without payment being received in cash to the shareholders of Indelicate Capital Ventures Limited pursuant to Scheme of arrangement between Intelligent Capital Ventures Ltd, the demerged Company and Indelicate Capital Advisors Ltd, the First resulting Company and ICVL Chemicals Ltd, the Second resulting company and ICVL Steels Ltd, the Third resulting company and their respective shareholders became effective on 20th January, 2012 and all assets and liabilities pertaining to Chemical divisions stood transferred to ICVL Chemicals ltd from the appointed date 1st April, 2011 .The difference between the transferred assets and liabilities and issue of shares by the company is adjusted against Goodwill account.)

Note: (a) Rights, Preferences & Restrictions attach to equity shares

The Company has one class of Equity shares having par value of Rs 10/- per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the board of directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. in the event of liquidation. the Equity Shareholder are eligible to receive the remaining assets of the company after distribution to all preferential amounts, in proportion to their shareholding.

Note 1: Corporate information

ICVL Chemicals Limited (the Company) is a Public Company and is incorporated under the provisions of The Companies Act,1956. The company is engaged in the Business of Trading in Chemicals, Trading in Shares.


Mar 31, 2012

I) During the year, pursuant to the scheme of Arrangement U/s 391 to 394 and other applicable provisions of the Companies Act,1956. There was demerger of Chemical Division of the Intellivate Capital Ventures Limited with the company. Pursuant to the scheme of demerger is sanctioned and approved by the Hon'ble High Court of judicature at Bombay on 16th December 2011, and upon filing the said order with Registrar of Companies, with Maharashta on 20th January,2012, the said scheme became effective.

ii) The scheme of arrangement has been given effect in these financial statements and in pursuant to the said scheme :

iii) The said approved scheme of arrangement has been given effect with effect from Appointed date i.e. April 1, 2011 in these financial statements, pursuant to the provisions contained in Section 391 to 394 and other relevent provisions if any. Accordingly the Assets & Liabilities of Chemical division of Intellivate Capital Venture Limited are vested and transferred to the company, being Second resultant company at book values on the appointed date i.e. April 1, 2011 and on a going concern basis, in accordance with Section 2(19AA) of the Income Tax Act, 1961.

iv) Accordingly, the existing Shareholders of Intellivate Capital Ventures Ltd. (Demerged Company) have been issued and alloted shares of the company as under :

v) 11(Eleven) fully paid Equity Shares of Rs.10/- each of the company is issued and alloted to the Shareholders of Intellivate Capital Ventures Ltd. for every 100(One Hundred) fully paid Equity Shares of Rs.1/- each held by them in Intellivate Capital Ventures Ltd. i.e. the company has issued 3200992 shres.

vi) The difference between the transferred assets and liabilities and issue of shares by the company is adjusted against Goodwill account.

Note 1: Corporate information

ICVL Chemicals Limited (the Company) is a Public Company and is incorporated under the provisions of The Comapnies Act,1956. The company is engaged in the Business of Trading in Chemicals, Trading in Shares.

 
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