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Notes to Accounts of Rama Paper Mills Ltd.

Mar 31, 2015

1 Since the Company operates in a single segment i.e. "Paper & Paper Board" Accounting Standard (AS)- 17 – "Segment Reporting" issued by the Institute of Chartered Accountants of India is not applicable.

2 Balance of Trade payable, Trade Receivables and Advances as at 31st March, 2015 are subject to confirmation.

3 In the opinion of the Board of Directors, Current Assets, Loans and Advances have valued on realisation in the ordinary course of business at least equal to the amount at which they have been stated in the Balance Sheet as at 31.03.2015.

4 The bifurcation of the total outstanding dues of small scale industrial undertaking and other than small scale Industrial undertakings as well as the named Small Scale Industrial, Undertaking to whom the Company Owes a sum of exceeding Rs. 100,000.00 and which is outstanding for more than 30 days are not Disclosed In the balance sheet as suppliers have not indicated their status on their documents/ papers, whether they Small Scale Undertakings or not. Hence it is not possible for the Company to disclose the said information in respect of trade creditors. 38 Previous year figures have been re arranged, regrouped, wherever necessary. The accompanying notes form an integral part of the Financial Statements.


Mar 31, 2014

1 Contingent Liabilities and Commitments (to the extent not provided for)

Contingent Liabilities

Guarantees 45,000,000 8,200,000

Sales Tax 3,411,083 3,411,083

Customs, Excise and Service Tax 1,683,603 1,683,603

2 Since the Company operates in a single segment i.e. "Paper & Paper Board" Accounting Standard (AS)- 17 - "Segment Reporting" issued by the Institute of Chartered Accountants of India is not applicable.

3 Balance of Trade payable, Trade Receivables and Advances as at 31st March, 2014 are subject to confirmation.

4 In the opinion of the Board of Directors, Current Assets, Loans and Advances have valued on realisation in the ordinary course of business at least equal to the amount at which they have been stated in the Balance Sheet as at 31.03.2014.

5 The bifurcation of the total outstanding dues of small scale industrial undertaking and other than small scale Industrial undertakings as well as the named Small Scale Industrial, Undertaking to whom the Company Owes a sum of exceeding Rs. 100,000.00 and which is outstanding for more than 30 days are not In the balance sheet as suppliers have not indicated their status on their documents/ papers, whether they Small Scale Undertakings or not. Hence it is not possible for the Company to disclose the said information in respect of trade creditors.

6 Trade Receivables has been shown after deducting the amount of advance from customers.

7 The ''Fixed assets register'' is under preparation, Hence the Book records and physical verification of Fixed Assets could not be reconciled. Steps are being taken to complete it at the earliest.

8 Keeping in view of the provisions of Section115jb of Income Tax Act, 1961, Provision for Income Tax (MAT) has been made.

9 Previous year figures have been re arranged, regrouped, wherever necessary.

The accompanying notes form an integral part of the Financial Statements.


Mar 31, 2013

1 Contingent Liabilities and Commitments (to the extent not provided for)

Contingent Liabilities As at 31.03.2013 As at 31.03.2012

Guarantees 8,200,000 8,000,000

Sales Tax 3,411,083 1,363,924

Customs, Excise and Service Tax 1,683,603 1,683,603

2 Related Party Disclosures:-

a) Key Management Personnel 1.Shri Pramod Agarwal 2.Shri Arun Goel

Companies Controlled by Directors/Relatives

Ram Fin Fortunes Private Limited

b) Related Party Transactions

3 Since the Company operates in a single segment i.e. "Paper & Paper Board" Accounting Standard (AS)- 17 – "Segment Reporting" issued by the Institute of Chartered Accountants of India is not applicable.

4 Balance of Sundry Debtors, Creditors and advances as at 31.03.2012 are subject to confi rmation.

5 In the opinion of the Board of Directors, Current Assets, Loans and Advances have valued on relisation in the ordinary course of business at least equal to the amount at which they have been stated in the Balance Sheet as at 31.03.2013.

6 The bifurcation of the total outstanding dues of small scale industrial undertaking and other than small scale Industrial undertakings as well as the named Small Scale Industrial, Undertaking to whom the Company Owes a sum of exceeding Rs. 100,000.00 and which is outstanding for more than 30 days are not In the balance sheet as suppliers have not indicated their status on their documents/ papers, whether they Small Scale Undertakings or not. Hence it is not possible for the Company to disclose the said information in respect of trade creditors.

7 Sundry Debtors has been shown after deducting the amount of advance from customers.

8 The ''Fixed assets register'' is under preparation, Hence the Book records and physical verifi cation of Fixed Assets could not be reconciled. Steps are being taken to complete it at the earliest.

9 Previous year fi gures have been re arranged, regrouped, wherever necessary.

The accompanying notes form an integral part of the Financial Statements.


Mar 31, 2012

(i) Equity Shares:

The Equity Shareholders have:

The right to receive dividend out of balance of net profits remaining after payment of dividend to the preference shareholders.

The dividend proposed by Board of Directors is subject to approval of shareholders in the ensuing general meeting.

The Company has only one class of Equity Shares having face value of Rs. 10/-each and each shareholder is entitled to one vote per share.

- In the event of winding up, the equity shareholders will be entitled to receive the remaining balance of assets if any, after preferential payments and to have a share in surplus assets of the Company, proportionate to their individual shareholding in the paid up equity capital of the Company.

(ii) Preference Shares:The cumulative redeemable preference shareholders have:

- The right to receive a fixed cumulative preferential dividend at specified rate on the paid up capital.

- The right to receive arrears of cumulative dividend, if any, whether earned or declared, at the time of redemption of the said shares, and,

- The right in a winding up to have the capital paid up on such shares and the arrears, if any, of the said preferential dividend, whether earned or declared, be paid off in priority to any payment of capital on equity shares. However, it shall not confer the right to any further participation in the profits or assets of the Company.

Terms of Redemption:-The company has preference shares having a par value of Rs. 100 per share. Resolution passed by the shareholders of the company at their annual general meeting held on 08.09.2009 to convert the Preference Shares into Equity Shares could not be given effect in absence of in-principle approval from Bombay Stock Exchange, which has been kept in abeyance due to earlier listing issues yet to be resolved in SEBI for conversion of equity share application money into equity share capital.

(1) Term loan from Bank of Baroda is secured against hypothecation of Plant & Machinery, Land & Building (both present & future) of the Company and extension of hypothecation over stock & book debts of the company and also personal guarantee of Directors/Promoters of the Company.

From Bank of Baroda (for term loan of Rs. 3236 Lacs)

At the rate of 12.00% (Previous year 13.25% p.a.). Repayble in 27 quarterly installment of Rs. 115.57 lacs each and last installment of Rs. 115.61 lacs starting from 01.04.2013.

From Bank of Baroda (for FITLI of Rs. 471 Lacs)

At the rate of 11.50%. Repayble in 27 quarterly installment of Rs. 16.82 lacs each and last installment of Rs. 16.86 lacs starting from 01.04.2013.

From Bank of Baroda (for FITL II of Rs. 388 Lacs)

At the rate of 11.50%. Repayble in 27 quarterly installment of Rs. 13.86 lacs each and last installment of Rs. 13.78 lacs starting from 01.04.2013.

From Bank of Baroda (for WCTL of Rs. 1286 Lacs)

At the rate of 12.00%. Repayble in 27 quarterly installment of Rs. 45.93 lacs each and last installment of Rs. 45.89 lacs starting from 01.04.2013.

(2) Vehicles liabilities are secured by hypothecation of respective Vehicles and guaranteed by Directors of the Company. From ICICI Bank Ltd. (for term loan of Rs 18 Lacs)

At the rate of 12%. Repayble in 36 monthly installment (with interest) of Rs. 59778/-each, starting from 15.06.2011.

From HDFC Bank Ltd. (for term loan of Rs 5.35 Lacs)

At the rate of 11%. Repayble in 36 monthly installment (with interest) of Rs. 17356/-each, starting from 19.12.2009.

(3) Term loan from IDBI Bank is secured against:

(i) First charge on the Carbon Credits receivables of the sale of Carbon Credits in a manner satisfactory to IDBI Bank. The company to obtain IMOC from Bank of Baroda (BoB) and other charge holders, if any to perfect the security.

(ii) Unconditional and irrevocable personal guarantees of Shri Pramod Agarwal,Managing Director and Arun Goel, Executive Director of the company.

(iii) Exclusive first charge on the Escrow account to be opened with IDBI Bank for receipt of sale proceeds of Carbon Credits.

1. Contingent Liabilities and Commitments (to the extent not provided for)

Contingent Liabilities

Guarantees 8,000,000 18,765,000

Sales Tax 1,363,924 -

Customs, Excise & Service Tax 1,683,603 1,683,603

2. Since the Company operates in a single segment i.e. "Paper & Paper Board", Accounting Standard (AS) 17-"Segment Reporting" issued by the Institute of Chartered Accountants of India is not applicable.

3. Balances of Sundry Debtors, Creditors and Advances as at 31st March, 2012 are subject to confirmation.

4. In the opinion of the Board of Directors, Current Assets, Loans and Advances have value on realisation in the ordinary course of the business at least equal to the amount at which they have been stated in the Balance Sheet as at 31.3.2012.

5. In the absence of information from creditors of their status, the amount due to small and micro enterprises is not ascertainable.

6. The financial statements for the year ended 31st March 2011 had been prepared as per the then applicable, pre-revised Schedule VI of the Companies Act. 1956. Consequent to the notification under the Companies Act, 1956, the financial statements for the year ended 31st March 2012 are prepared under revised Schedule VI. Accordingly, the previous year figures have also been reclassified to conform to this year's classification.

The accompanying notes, form an integral part of the Financial Statements.


Mar 31, 2011

1. Estimated amourt of contracts remaining to be executed on capital account and not provided for Nil (Previous Year Rs. Nil

2. CONTINGENT LIABILITIES. NOT PROVIDED FOR:

CURRENT YEAR PREVIOUS YEAR RUPEES RUPEES

(i) Counter Guaranites 1,87,65,000.00 1,70,00,000.00

3. Term loan from Bank of Boards is secured against hypothecation of Plant & Machinery, Land & Building (both present & future) of the Company and extension of hypothecation over stock & book debts of the company and also personal guarantee of Directors/Promoters of the Company.

4. Term loan from IDBI Bank, is secured against;-

i. First charge on the Carbon Credits receivables of the sale of Carbon Credits in a manner satisfactory to IDBI Bank. The company to obtain NOC from Sank of Baroda (BoB) and other charge holders, if any, to perfect the security.

ii. Unconditional and irrevocable personal guarantees of Shri Pramod Agarwal, Managing Director, and Shri Arun Goei, Executive Director of the company.

iii. Exclusive first charge on the Escrow account to be opened with IDBI Bank for receipt of sale proceeds of Carbon Credits.

5. Working Capital facilities from Bank of Baroda are secured toy

i. Equitable Mortgage of land bearing khasra no. 174,43, 44/1, 43,33, 29, 42/2 situated at Village Nagla Islam, Pargana Kiratpur Tehsil Nasibabad Dlstt, Bijnore.

ii. Hypothecation of Plant & Machinery, stocks and Book Debts of the Company all situated at Kiratpur Distt. Bijnore.

6. Deferred liabilities are secured by hypothecation of respective Vehicles and guaranteed by Directors of the Company.

Total Installments falling due with in next year Rs. 5.20 Lacs (Previous Year Rs, 15,22 Lacs).

7. The account has been classified by the bank under Non Performing Assets (NPA) category.

8. In the opinion of Board of Directors, Current Assets, Loans and Advances have a value on realisation In the ordinary course of business of the Company at least equal to the amount at which they are stated and the provisions for all known and determined liabilities (except as otherwise stated) are adequate and not in excess of the amount reasonably stated as at 31st March, 2011.

9. Balersces of Sundry Debtors, Creditors, Advances from Customers, Sundry Advances and Security Deposits as on 31,03.2011 are subject to confirmation.

10. In the absance of information from Creditors regarding their status, the amount due to Small and Medium Enterprises is not ascertainable.

11. Since the Company operates in a single segment i.e. "Paper & Paper Board", Accounting Standard (AS) 17-"Segment Reporting" issued by the Institute of Chartered Accountants of India is not applicable.

12. The Earning per Share(EPS), the numerators and denominators used to calculate Basic and Diluted Earning per Sharer-

Related Party Disclosures is as under :-

1. Name of related parties and description of relationship:

(A).Key Management Personnel 1. Shri Parmod Kumar, Chairman cum Managing Director

2. Shri Arun Goel, Executive Director

(B).Companies controlled by Baghauli Sugar and Distillery Directors / Relatives Limited

2. There is no provision for doubtful debts or amounts written off or written back during the period in respect of dues from or to related parties.

3. Summary of Transactions; (Rs.in lacs)

The particulars given above have been identified on the basis of information available with the Company.

13. Pursuant to the Accounting Standard (AS)-22 accounting for taxes on income issued by The Institute of Chartered Accountants of India applicable from 1.4.2002, deferred tax Assets of Rs,305.86 lacs (Previous Year deferred tax liability Rs. 6.18 lacs ) for the year ended 31.03.2011 has been provided to Profit & Loss Account.

14. Previous year figures have been re-grouped and re-arranged wherever necessary.

15. Generic Names of Principal Products/Services of Company

(As per Monetary Terms) (i) Items Code No. (ITC Code) 4801,4802, 4804 & 4805 (ii) Product Description News Prints, Writing & Printing paper & Duplex Board

Schedule 1 to 19 forms an integral part of Balance Sheet and Profit & Loss Account

 
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