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Notes to Accounts of Riba Textiles Ltd.

Mar 31, 2018

27 ADDITIONAL INFORMATIONS

27.1

Contingent liabilities and commitments

(To the extent not provided for) Contingent Liabilities

(a) Claim against the company not acknowledged As debts; (b) Guarantees

27.2

CIF value of import

361498

680 009

Packing Material

Components and spare parts;

2,007,886

1,972,384

Capital goods;

0

19,490,664

Total

2,369,384

22,143,057

27.3

Expenditure in foreign currency

Exhibition & fair charges

4,903,149

4,499,792

Travelling

2,282,975

2,341,862

Others

24,422,997

12,015,355

Total

31,609,121

18,857,009

27.4

Details of consumption of imported and indigenous items

915,950,878

664,664,021

Raw Materials

Indigenous

% Of Total

100

100

Imported

-

-

% Of Total

-

-

Total consumption

915,950,878

664,664,021

Spare parts and components

Indigenous

135,758,854

91,021,066

% Of Total

98.52

98

Imported

2,007,886

1,972,384

% Of Total

1.48

2

Total consumption

137,766,840

92,993,550

27.5

Earning in foreign exchange

Direct export of good calculated on FOB basis (Previous year''s figures have been regrouped reclassified wherever necessary to correspond with the current year'' classification / disclosure)

1,356,927,871

991,483,133

28 Related Party Disclosures

28.1 Related Parties and transactions with them during the year as identified by the Management are given below:

(i) Key Management personnel''s

Sh. Ravinder Garg, Mr. Amit Garg, Mr. Nitin Garg, Asha Garg

On 13th April 2018, Mr. Aditya Garg son of Mr. Amit Garg, Managing Director, was appointed for the position of a Management Trainee in the Marketing Department for a period of three months with the Stipend of Rs.15000/- per month.

Details of transactions carried out with related parties in the ordinary course of business:

(Rupees in Lacs)

Sr. No

Nature of Business

Key Management personnel''s

Enterprises over which key management personnel & their relatives are able to exercise significant influence.

Total

2017-18

2016-17

2017-18

2016-17

2017-18

2016-17

Remuneration

(i)

Paid

Ravinder Garg

63.00

42.00

63.00

42.00

Amit Garg

63.00

42.00

63.00

42.00

Nitin Garg

63.00

42.00

63.00

42.00

Asha Garg

9.00

1.50

9.00

1.50

(ii)

Rent Paid

Ravinder Garg

1.50

1.50

1.50

1.50

Amit Garg

6.00

6.00

6.00

6.00

Nitin Garg

6.00

6.00

6.00

6.00


Mar 31, 2016

1. Rights, preference and restrictions attached to shares issued:

The Company has only one class of equity shares having a par value of Rs.10 per share. Each shareholder is eligible for one vote per share held. The dividend if 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 shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

2. Related Party Disclosures

3.1Related Parties and transactions with them during the year as identified by the Management are given below:

4. Key Management personnel''s Sh. Ravinder Garg, Mr. Amit Garg, Mr. Nitin Garg


Mar 31, 2015

1 Related Party Disclosures

1.1 Related Parties and transactions with them during the year as identified by the Management are given below:

(i) Key Management personnel's

Sh. Ravinder Garg, Mr. Amit Garg, Mr. Nitin Garg


Mar 31, 2014

Riba Textiles Limited (the Company) is a public company domiciled in India andi ncorporated under the provisions of the Companies Act, 1956. Its shares is listed on Bombay Stock Exchange (BSE). The Company is engaged in Manufacturing & Export of terry towels.

1 Short-term borrowings:

Export packing credit & foreign bills purchase limit are secured by exclusive first charge on entire current assets of the Company including raw material, semi-finished goods including goods in transit, book debts & other current assets of the Company (Present & Future.) Hypothecation of bills also in case of FBP limit.

2 Related Party Disclosures

2.1 Related Parties and transactions with them during the year as identified by the Management are given below:

(i) Key Management personnel''s

Sh. Ravinder Garg, Mr. Amit Garg, Mr. Nitin Garg


Mar 31, 2013

FIGURES AS AT FIGURES AS AT THE THE PARTICULARS END OF END OF 31.03.2013 31.03.2012 PERIOD PERIOD

CONTINGENT LIABILITIES AND COMMITMENTS

(TO THE EXTENT NOT PROVIDED FOR)

i CONTINGENT LIABILITIES

(a) CLAIM AGAINST THE COMPANY NOT ACNOWLEDGED 0 0

AS DEBTS;

(b) GUARANTEES; 30,000,000 0

Corporate Guarantee and Pari Passu charges over the fixed assets of company given to SBI, Delhi for limit sanctioned to M/s Adanya Impex.

(c) OTHER MONEY FOR WHICH THE COMPANY IS CONTINGENTLY LIABLE. 0 0

ii COMMITMENTS

(a) ESTIMATED AMOUNT OF CONTRACTS REMAINING TO BE EXECUTED ON CAPITAL ACCOUNT AND NOT PROVIDED FOR; 0 0

(b) UNCALLED LIABILITY ON SHARES AND OTHER INVESTMENTS PARTLY PAID; 0 0

(c) OTHER COMMITMENTS 0 0


Mar 31, 2012

I OPERATIONS

TAX EXPENSE OF DISCONTINUING XIII OPERATIONS

PROFIT(LOSS) FROM DISCONTINUING

M (e) OTHER NON-CURRENT ASSETS

MISC . EXPENDITURE

(TO THE EXTENT NOT WRITTEN OFF OR ADJUSTED)

2 CURRENT ASSETS

N (a) CURRENT INVESTMENTS

FIGURES AS AT FIGURES AS AT THE THE NOTE PARTICULARS END OF END OF 31.03.2012 31.03.2011 NO. PERIOD PERIOD

T CONTINGENT LIABILITIES AND COMMITMENTS (TO THE EXTENT NOT PROVIDED FOR)

i CONTINGENT LIABILITIES

(a) CLAIM AGAINST THE COMPANY NOT ACNOWLEDGED 0 0 AS DEBTS;

(b) GUARANTEES; 0 0

© OTHER MONEY FOR WHICH THE COMPANY IS CONTINGENTLY LIABLE. 0 0

ii COMMITMENTS

(a) ESTIMATED AMOUNT OF CONTRACTS REMAINING TO BE EXECUTED ON CAPITAL ACCOUNT AND NOT PROVIDED FOR; 0 0

(b) UNCALLED LIABILITY ON SHARES AND OTHER INVESTMENTS PARTLY PAID; 0 0

(c) OTHER COMMITMENTS 0 0

THE AMOUNT OF DIVIDENDS PROPOSED TO BE DISTRIBUTED TO EQUITY AND PREFERENCE SHAREHOLDERS FOR THE PERIOD

AMOUNT PER EQUITY SHARE 0 0

V ISSUE OF SECURITIES FOR SPECIFIC PURPOSE

W DETAIL OF ANY ASSETS OTHER THAN FIXED ASSETS AND NON-CURRENT INVESTMENTS WHICH DO NOT HAVE A VALUE ON REALISATION IN THE ORDINARY COURSE OF BUSINESS AT LEAST

EQUAL TO THE AMOUNT AT WHICH THEY ARE STATED.


Mar 31, 2010

1) Debit and Credit balances in the account of debtors, suppliers are subject to their respective confirmation and reconciliation.

2) In the opinion of Board of Director the current assets, loan and advances have the approximate realizable value at which these are stated, if realized in the ordinary course of business.

3) Provision for income tax liability has been made on the basis of Minimum Alternative tax as per section 115JB of Income Tax Act 1961.

4) There was no employee for full year or part of the year who was getting salary in excess of the limit laid down under section 217 (2A) of Companies Act, 1956.

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