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Notes to Accounts of Rathi Bars Ltd.

Mar 31, 2015

1. General Information

Rathi Bars Limited, a steel rolling mill, was set-up at Khushkhera, Distt. Alwar, Rajasthan with a view to meet the growing requirement of reinforcement steel bars for construction. The company is engaged in the manufacturing of reinforcement steel bars (TMT) & Low Carbon Billets.

2. Terms / rights attached to equity shares

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

3. The Company has provided liabilities on account of Defined Benefit Obligation on the basis of actuarial valuation as given by actuarial valuer, detailed disclosure in terms of AS-15 (Revised) could not be made. However, in the opinion of the management, the amount is not material and defined benefit obligation has been provided.

4. Current Liabilities & Provisions:

i) Sundry creditors includes ' 12.72 lacs (31st March, 2014: ' 12.14 lacs) due to Small Scale Industrial Undertakings (SSl Units) as identified by the Company and relied upon by the auditors.

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

5. Contingent liabilities not provided for:

Claims against the Company not acknowledged as debts (to the extent ascertained) in respect of various demands etc. raised, which in the opinion of the management are not tenable are under appeal at various stages: Nil (Previous Year: Nil)

6. The figures of previous year have been re-arranged/re-grouped wherever felt necessary.


Mar 31, 2014

NOTE-1

General Information

Rathi Bars Limited, a steel rolling mill, was set-up at Khushkhera, Distt. Alwar, Rajasthan with a view to meet the growing requirement of reinforcement steel bars for construction. The company is engaged in the manufacturing of reinforcement steel bars (TMT) & Ingots/ Billets.

2a. The Company has provided liabilities on account of Defined Benefit Obligation on the basis of actuarial valuation as given by actuarial valuer, detailed disclosure in terms of AS-15 (Revised) could not be made. However, in the opinion of the management, the amount is not material and defined benefit obligation has been provided.

b. Current Liabilities & Provisions:

i) Sundry creditors includes Rs. 12.14 lacs (31st March, 2013: Rs. 6.34 lacs) due to Small Scale Industrial Undertakings (SSI Units) as identified by the Company and relied upon by the auditors.

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

c. Market value of Investment in Quoted Equity Shares Rs. 21,87,515.00 (Previous Year: Rs. 23,91,915.00)

d. Contingent liabilities not provided for:

Claims against the Company not acknowledged as debts (to the extent ascertained) in respect of various demands etc. raised, which in the opinion of the management are not tenable are under appeal at various stages:

Current Year Previous Year (Rs.) (Rs.)

Excise Duty cases Nil 3,29,784

f. The figures of previous year have been re-arranged/re-grouped wherever felt necessary.


Mar 31, 2013

General Information

Rathi Bars Limited, a steel rolling mill, was set-up at Khushkhera, Distt. Alwar, Rajasthan with a view to meet the growing requirement of reinforcement steel bars for construction. The company is engaged in the manufacturing of reinforcement steel bars (TMT) & Low Carbon Billets.

a. The Company has provided liabilities on account of Defined Benefit Obligation on the basis of actuarial valuation as given by actuarial valuer, detailed disclosure in terms of AS-15 (Revised) could not be made. However, in the opinion of the management, the amount is not material and defined benefit obligation has been provided.

b. Current Liabilities & Provisions:

i) Sundry creditors includes Rs. 6.34 lacs (31st March, 2012: Rs. 9.28 lacs) due to Small Scale Industrial Undertakings (SSI Units) as identified by the Company and relied upon by the auditors.

ii) The company has not received any intimation from "Suppliers" regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the yearend together with interest paid/payable as required under the said Act have not been given.

c. Market value of Investment in Quoted Equity Shares Rs. 23,91,915.00 (Previous Year: Rs. 24,27,915.00)

d. Contingent liabilities not provided for:

Claims against the Company not acknowledged as debts (to the extent ascertained) in respect of various demands etc. raised, which in the opinion of the management are not tenable are under appeal at various stages:

Current Year Previous Year (Rs.) (Rs.)

Excise Duty cases 3,29,784 10,84,471

3.29.784 10.84.471

Terms / rights attached to equity shares

The Company has only one class of equity shares having par value of Rs. 10 per share.

Each holder of the equity share is entitled to one vote per share.

Details of shares held by shareholders holding more than 5% of the aggregate shares in the Company

Mr. Anurag Rathi is holding 6.40% (10,45,649 equity shares) of the aggregate shares in the company (Previous year: 6.40%, 10,45,649 equity shares)


Mar 31, 2012

NOTE-1

General Information

Rathi Bars Limited, a steel rolling mill, was set-up at Khushkhera, Rajasthan with a view to meet the growing requirement of reinforcement steel bars for construction. The company is engaged in the manufacturing of reinforcement steel bars (TMT) & Low Carbon Billets.

a. The Company has provided liabilities on account of Defined Benefit Obligation on the basis of actuarial valuation as given by actuarial valuer, detailed disclosure in terms of AS-15 (Revised) could not be made. However, in the opinion of the management, the amount is not material and defined benefit obligation has been provided.

b. Current Liabilities & Provisions:

i) Sundry creditors includes Rs. 9.28 lacs (31st March, 2011:Rs. 9.86 lacs) due to Small Scale Industrial Undertakings (SSI Units) as identified by the Company and relied upon by the auditors.

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


Mar 31, 2010

A. The company has provided liabilities on account of Defined Benefit Obligation on the basis of actuarial valuation as given by actuarial valuer, detailed disclosure in terms of AS-15 (Revised) could not be made. However, in the opinion of the management, the amount is not material and defined benefit obligation has been provided.

b. The Sundry Debtors includes Rs. 31,41,392.00 due by Rathi Oxygen Pvt. Ltd. under the same management.

c. Current Liabilities & Provisions:

i) Sundry creditors includes Rs. 7.15 lacs (31-3-2009: Rs. 24.80 lacs) due to Small Scale Industrial Undertakings (SSI Units) as identified by the Company and relied upon by the auditors.

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

d. Payment to Auditors in respect of:

Year ended Year ended

on 31st March, 2010 on 31st March, 2009

A Audit Fees Rs.60,000.00 Rs. 50,000.00

B Fee for Limited Review Rs. 20,000.00 Rs. 20,000.00

C Out of Pocket Expenses Rs. 10,000.00 Rs. 10,000.00

 
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