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Notes to Accounts of Ranjeev Alloys Ltd.

Mar 31, 2012

1) Parties balance under trade receivable payable advances and secured loans from ICBI Bank ltd are subject to confirmation

2) Contingent liability regarding sale tax income tax or any will arise at the time of assets and the details of other contingent

Current year Previous year

a) EXCISE DUTY 1,079,720.00 1,079,720.00

B) CIVIL Noor mohd (worker) 35,000.00 35,000.00

c) Income tax (A.Y.2008-09) nIL 1,377,218.00

on historical cost basis and are consistent with the generally accounting principles. .

In accordance with the schedule VI of the Companies Act, 19S6.

3. INVENTORIES

Traded Goods are valued at Cost price, if any.

finished mud Is accounted for on durance 0, 9oods from the factory premises and VAT is payable on the sales of by the company.

*are neither recognized nor disclosed in the financial statements.

dost that are dimity attributable. too the .caption or Construction of that Capital asset. Other borrowing Costs are recognized as an expense in the period in which they are incurred.

4. TMPTRMENT OF ASSETS indication that an asset may be impaired. If any such indication

The Company assesses at each balance sheet date whether there is any amount of the asset or the recoverable amount ex1sts,the company estimates the recoverable amount of the tassel If sui nether carrying amount is reduced to its recoverable of the cash generating unit to which the asset belongs issue" there this profit & Loss account. If at the balance sheet date amount. This reduction is treated as an impairment loss 9. exists the recoverable amount is reassessed and the asset there is an indication that if a previously assessed impairment loss no longer exists, the recovered a is reflected at the recoverable amount.


Mar 31, 2011

1. Secured Loans viz. C/c A/c, Line of credit account, obtained from State Bank of Bikaner & Jaipur,Gvg. are secured by equitable mortgage of Plant and Machinery, Land & Building and by charge on all present & future movable and immovable Assets of company including receivables and all types of stocks and also guranteed by Sh. Ranjeev Bhatia & Sh. Kanav Bhatia - the Directors in their individual capacities. Further, secured loans - Working Capital Term Loan & Adhoc limits obtained from SIDBl,Chandigarh are secured by equitable mortagaged of Plant & Machinery and floating charge on current assets S further secured by Collateral security of plot no. 427 A, sector 3,M.Gvg. and H No.415, sector 3,Gvg. pertaining to M/s DCDR Bhatia Mill Owner Group A & further guranted by the directors in their individual capacities. 2. Contingent liability regarding Sale Tax, Income Tax or any Act will arise at the time of assessment and the details of other contingent liabilities are : a) Letter of credit Current Year (Rs.) Previous Year (Rs.)

Inland NIL 70,000,000.00 Foreign NIL NIL b) EXCISE DUTY 1,079.720.00 1,079,720.00 c) CIVIL NIL 162,868.00

d) Income Tax (A.Y. 2008-09) *1,377,218 NIL

3 . Estimated amount of contracts remaining to be executed on capital account and not provided for [net of advance - NIL (Previous Year - NIL). 4 . Debit and credit balances in personal accounts are subject to confirmation. 5 . Excise duty payable of finished products have not been considered because the same is revenue neutral & the liablility on account of excise duty under it stands at Rs. NIL (Previous year Rs.173,483) 6 . In the opinion of the Board, all the current Assets, Loan & Advances have a value on realisation which in the orinary course of business shall atleast be equal to the amount at which they are stated in the adequate and not in excess/short of the amount considered reasonably necessary. 7 . Expenditure on employees in receipt of aggregate remuneration of not less than Rs. 24 lacs for the year, if employed throughout the year or not less than Rs.2 lacs per month, if employed for part of the year - stands at Rs.NIL (Previous Year - Rs.NIL) 8. Previous year figures have been regrouped, re-classified and rearranged wherever considered necessary to make them compareable with current year figure. 9. CENVAT/VAT allowed on raw material & others has been accounted for in the books of accounts by reducting the respective items & unavailed CENVAT/VAT is being carried forward as CENVAT/VAT receivables. Excise duty /VAT is accounted for at the clearance/Sales of goods at the factory by reducing CENVAT/VAT receivable.Excise duty/VAT does not form part of element of cost, hence has been excluding from the valuation of inventory. 10. The company follows all the Accounting Standards mandated bt the Institute of Charteered Accounts of India, New Delhi. 11. As per the accounting Standared-18 issued by the Institute of Chartered Accountants on India Related Party Disclosure. In view of this, the company has given the following disclosure for the year.The company has identified the related parties having transactions during the yr.,as per details given below.No provision for doubtful debts is required to be made & no amount was written off or written back from such parties. 12. In the absence of necessary information with the company relating to information to the registration status of suppliers under the Micro,Small and Medium Enterprises Development Act,2006, the information required under the said Act could not be compiled and disclosed.The Company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises.


Mar 31, 2010

1. Secured Loans viz. C/c A/c, Line of credit account, obtained from State Bank of Bikaner & Jaipur,Gvg. are secured by equitable mortgage of Plant and Machinery, Land & Building and by charge on all present & future movable and immovable Assets of company including receivables and all types of stocks and also guranteed by Sh. Ranjeev Bhatia & Sh. Kanav Bhatia - the Directors in their individual capacities. Further, secured loans - Working Capital Term Loan & Adhoc limits obtained from SIDBl,Chandigarh are secured by equitable mortagaged of Plant & Machinery and floating charge on current assets S further secured by Collateral security of plot no. 427 A, sector 3,M.Gvg. and H No.415, sector 3,Gvg. pertaining to M/s DCDR Bhatia Mill Owner Group A & further guranted by the directors in their individual capacities.

2. Contingent liability regarding Sale Tax, Income Tax or any Act will arise at the time of assessment and the details of other contingent liabilities are :

a) Letter of credit Current Year (Rs.) Previous Year (Rs.)

Inland 70,000,000.00 60,000,000.00

Foreign NIL NIL

b) EXCISE DUTY 1,079.720.00 1,420,001.00

c) CIVIL 162,868.00 162,868.00

3 . Estimated amount of contracts remaining to be executed on capital account and not provided for [net of advance - NIL (Previous Year - NIL).

4 . Debit and credit balances in personal accounts are subject to confirmation.

5 . Excise duty payable of finished products have not been considered because the same is revenue neutral & the liablility on account of excise duty under it stands at Rs.173,483/- (Previous year Rs.337,210)

6 . In the opinion of the Board, all the current Assets, Loan & Advances have a value on realisation which in the orinary course of business shall atleast be equal to the amount at which they are stated in the adequate and not in excess/short of the amount considered reasonably necessary.

7 . Expenditure on employees in receipt of aggregate remuneration of not less than Rs. 6,00,000/ for the year, if employed throughout the year or not less than Rs.50,000/- per month, if employed for part of the year - stands at Rs.18.00 Lacs paid to Sh. Ranjeev Bhatia-MD(Previous Year - Rs. 13.80 Lacs).

8. Previous year figures have been regrouped, re-classified and rearranged wherever considered necessary to make them compareable with current year figure.

9. CENVAT/VAT allowed on raw material & others has been accounted for in the books of accounts by reducting the respective items & unavailed CENVAT/VAT is being carried forward as CENVAT/VAT receivables. Excise duty /VAT is accounted for at the clearance/Sales of goods at the factory by reducing CENVAT/VAT receivable.Excise duty/VAT does not form part of element of cost, hence has been excluding from the valuation of inventory.

10. The company follows all the Accounting Standards mandated bt the Institute of Charteered Accounts of India, New Delhi.

11. As per the accounting Standared-18 issued by the Institute of Chartered Accountants on India "Related Party Disclosure". In view of this, the company has given the following disclosure for the year.The company has identified the related parties having transactions during the yr.,as per details given below.No provision for doubtful debts is required to be made & no amount was written off or written back from such parties.

12. In the absence of necessary information with the company relating to information to the registration status of suppliers under the Micro,Small and Medium Enterprises Development Act,2006, the information required under the said Act could not be compiled and disclosed.The Company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises.