Mar 31, 2014
1. Contingent Liabilities - Not Provided For
S. Particulars Amount Amount Amount
No. (Rs. in Lacs) (Rs. in Lacs)
31.03.2014 31.03.2013
a) In respect of Cess demanded by
Textile Committee under the Textile
Committee (Cess) Rules, 1975, for the
period from 1989 to 1997, against which
company has filed writ petition at Raj.
High Court for holding the levy of Cess
and for setting aside the demand
(Rs. 400000/- deposited under protest &
Rs. 426749/- retained as security
against the demand by The Office of NHAI
land acquisition, Abu Road which is
included in Deposits under the head
Current Assets.) 8.27 8.27
b) In respect of Excise Duty (NCCD) and
Penalty demanded by Excise Department
for clearances during March, 2003,
against which the company has filed
appeal with Hon''ble Tribunal Excise
Custom & Service Tax, New Delhi which
in its order remanded the matter to The
Commissioner (Appeals) Customs, Excise &
Service Tax for hearing on merits (Rs.
801632/- Deposited included in Deposits
under the head Current Assets.) 83.36 83.36
2. Figures of the previous year have been regrouped and rearranged to
correspond to current year''s classification.
3. Provision for Current and Deferred Tax
No provision for tax for the year has been made in view of current
year''s loss and in view of uncertainty of future business deferred tax
assets has not been recognized.
4. Due to Micro, Small & Medium Enterprises
To the extent of information available with management, there are no
SSI units to whom Company owes money for more than 30 days.
The Company has not received any communication from the 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. In the opinion of management, loans and advances and other assets
are approximately of the value stated, it realized in the ordinary
course of business unless and otherwise stated. The provisions of all
liabilities are adequate and not in excess of the amount reasonably
necessary.
6. Additional information pursuant to the provisions of paragraphs 3
and 4 of Part II of Schedule VI of the Companies Act, 1956 is not
applicable.
7. Disclosure as required by "Accounting Standard 24: Discontinuing
Operations" and "Accounting Standard 28: Impairment of Assets"
The company was incurring heavy losses in textile business. Under the
circumstances the Board of directors in their meeting held on
29.10.2005 decided to discontinue the business operations of the
company and to sell the company''s machinery & equipments and surplus
land to repay the liabilities of the company. The company has sold
entire Tangible Assets except major part of land & building and some
part of furniture & fixtures.
8. Disclosure as required by Accounting Standard - 18 on "Related Party
Disclosures" issued by the Institute of Chartered Accountants of India
are as follows:
a. Relationship
i. Key Management Personnel & their relatives
Mr. Amitabh Hirawat - Managing Director
Smt. Padam Devi Hirawat
ii. Enterprises owned or significantly influenced by key management
personnel or their relatives where transactions have taken place:
Trepechy Trading Pvt. Ltd.
Shashwin Textiles Ltd.
Trepechy Textiles Pvt. Ltd,
Note: Related party relationship is as identified by the company &
relied upon by the Auditors.
b. Transactions carried out with related parties referred in A above,
in ordinary course of business:
9. SHARE CAPITAL
(i) The Company has only one class of Equity shares having a par value
of Rs 10/-. Each holder is eligible for one vote per share held, 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.
10. Long Term Borrowings
The Long Term Borrowing will be payable after 12 months.
11. Related Parties Disclosures:
A. Relationship
(i) Key Management Personnel & their relatives
Mr. Amitabh Hirawat - Managing Director
Smt Padam Devi Hirawat
(ii) Enterprises owned or significantly influenced by key management
personnel or their relatives where transactions have taken place:
M/s Trepechy Trading Pvt. Ltd.
Mar 31, 2013
1. CORPORATE INFORMATION:
M/s Rishab Special Yams Limited was incorporated under Companies Act,
1956 ( No. 1 of 1956) on 17.08.1987 as a public Limited company with
its registered office at 2070, Rasta Bara Gangore, Jaipur -302017, to
carry on the business of manufacturing, processing, texturising,
twisting, doubling, processing, packing, colorouring, dyeing, printing,
bleaching,, finishing, crimping, lenitting of polyester filament yarn,
and all other types of yams and fibres. The company went on public
issue in February 1992 and the issue was oversubscribed by 11 times.
The basis of allotment was finalized on 10.04.1992 and company raised a
total sum of Rs.290.43 lakhs through this Initial public offer. Due to
incurrence of continuous losses year after year the company has decided
in its Board Meeting held on 29.10.2005 to discontinue the business
operations of the company. Subsequently the company is trying to revive
the business and evaluating various options to utilized its available
assets gainfully.
2. Contingent Liabilities - Not Provided for:
S. Particulars Amount Amount
No. (Rs. in Lacs) (Rs. in Lacs)
31.03.2013 31.03.2012
a) In respect of Cess demanded
by Textile Committee under 8.27 8.27
the Textile Committee (Cess)
Rules, 1975, for the period
from 1989 to 1997, against which
company has filed writ
petition at Raj. High Court for
holding the levy of Cess and
for setting aside the demand
(Rs. 400000/- deposited
under protest & Rs. 426749/- retained
as security against
the demand by The Office of NHAI land
acquisition, Abu I Road which is
included in Loans & Advances)
b) ] In respect of Excise Duty (NCCD) and Penalty demanded I BM I 8^34
by Excise Department for clearances during March, 2003, against which
the company has filed appeal with Hon''ble Tribunal Excise Custom &
Service Tax, New Delhi (Rs. I 801632/- Deposited included in Loans &
Advances).
3. Figures of the previous year have been regrouped and rearranged to
correspond to current year''s classification.
4. Provision for Current and Deferred Tax
No provision for tax for the year has been made in view of availability
of brought forward losses for set off against current year''s income and
in view of uncertainty of future business deferred tax assets has not
been recognized.
5. Due to Micro, Small & Medium Enterprises
To the extent of information available with management, there are no
SSI units to whom Company owes money for more than 30 days.
The Company has not received any communication from the 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.
6. In the opinion of management, loans and advances and other assets
are approximately of the value stated, if realized in the ordinary
course of business unless and otherwise stated. The provisions of all
liabilities are adequate and not in excess of the amount reasonably
necessary.
7. Additional information pursuant to the provisions of paragraphs 3
and 4 of Part II of Schedule VI of the Companies Act, 1956 is not
applicable.
8. Disclosure as required by "Accounting Standard 24: Discontinuing
Operations" and "Accounting Standard 28: Impairment of Assets"
The company was incurring heavy losses in textile business. Under the
circumstances the Board of directors in their meeting held on
29.10.2005 decided to discontinue the business operations of the
company and to sell the company''s machinery & equipments and surplus
land to repay the liabilities of the company. The company has sold
entire Tangible Assets except major part of building and some part of
land & furniture & fixtures.
9. Disclosure as required by Accounting Standard - 18 on "Related
Party Disclosures" issued by the Institute of Chartered Accountants of
India are as follows:
a. Relationship
i. Key Management Personnel & their relatives
Mr. Amitabh Hirawat - Managing Director
Smt. Padam Devi Hirawat ii. Enterprises owned or significantly
influenced by key management personnel or their relatives where
transactions have taken place:
Trepechy Trading Pvt. Ltd.
Shashwin Textiles Ltd. Trepechy Textiles Pvt. Ltd,
Mar 31, 2012
1 CORPORATE INFORMATION:
M/s Rishab Special Yarns Limited was incorporated under Companies Act,
1956 ( No. 1 of 1956) on 17.08.1987 as a public Limited company with
its registered office at 2070, Rasta Bara Gangore, Jaipur -302003, to
carry on the business of manufacturing, processing, texturising,
twisting, doubling, dyeing of polyester filament yarn, and all other
types of yarns and fibres.
The company went public in February 1992. The basis of allotment was
finalized on 10.04.1992 and company raised a total sum of Rs.290.43
lakhs through this Initial public offer. Shares of the Company are
listed with The Bombay Stock Exchange Ltd., Mumbai ,The Delhi Stock
Exchange Association Ltd., New Delhi,Jaipur Stock Exchange Limited,
Jaipur
The company has decided in its Board Meeting held on 29.10.2005 to
discontinue the then existing business operation of the company. Now
company is evaluating to enter new businesses viz. Granite cutting &
Polishing etc and business related to production and recycling and to
trade, deal in import or export of various plastic materials and to
manufacture various products of aforesaid material at present location
at Abu Road.
Contingent Liabilities - Not Provided for:
S. Particulars Amount Amount
No (Rs. in Lacs) (Rs. in Lacs)
31.03.2012 31.03.2011
a) In respect of Cess demanded by
Textile Committee under the Textile 8.27 8.27
Committee (Cess) Rules, 1975, for the
period from 1989 to 1997, against
which company has filed writ petition
at Raj. High Court for nullifying
the levy
of Cess and for setting aside the
demand (Rs. 400000/- deposited under
protest & Rs. 426749/- retained as
security against the demand by
The Office
of NHAI land acquisition, Abu Road
which is included in Loans & Advances)
b) In respect of Excise Duty and
Penalty demanded by Excise
Department for 83.36 83.36
clearances during March, 2003, against
which the company has filed appeal
with Hon'ble Tribunal Excise
Custom & Service Tax, New Delhi
(Rs. 801632/-deposited, included
in Loans & Advances).
2. Figures of the previous year have been regrouped and rearranged to
correspond to current year's classification.
3. Provision for Current and Deferred Tax: No provision for tax for
the year has been made in view of losses in current year and in view of
uncertainty of future business deferred tax assets has not been
recognized.
4. Due to Micro, Small & Medium Enterprises: To the extent of
information available with management, there are no SSI units to whom
Company owes money for more than 30 days.
The Company has not received any communication from the 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. In the opinion of management, loans and advances and other assets
are approximately of the value stated, if realized in the ordinary
course of business unless otherwise stated. The provisions of all
liabilities are adequate and not in excess of the amount reasonably
necessary.
6. Additional information pursuant to the provisions of paragraphs 3
and 4 of Part II of Schedule VI of the Companies Act, 1956 is not
applicable.
7. Disclosure as required by "Accounting Standard 24 : Discontinuing
Operations" and "Accounting Standard 28 : Impairment of Assets"
The company was incurring heavy losses in textile business. Under the
circumstances the Board of directors in their meeting held on
29.10.2005 decided to discontinue the business operations of the
company and to sell the company's machinery & equipments and surplus
land to repay the liabilities of the company. The company has sold
entire fixed assets except major part of land & building and some
furniture & fixtures.
8. Disclosure as required by Accounting Standard - 18 on "Related
Party Disclosures" issued by the Institute of Chartered Accountants of
India are as follows:
a. Relationship
i. Key Management Personnel & their relatives
Mr. Amitabh Hirawat - Managing Director
Mr. Nathmal Hirawat - Father of Mr. Amitabh Hirawat
Srnt. Padam Devi Hirawat - Mother of Mr. Amitabh Hirawat
ii. Enterprises owned or significantly influenced by key management
personnel or their relatives where transactions have taken place:
Trepechy Trading Pvt. Ltd. Shashwin Textiles Ltd. Trepechy Textiles
Pvt. Ltd,
Note: Related party relationship is as identified by the company &
relied upon by the Auditors.
Notice Pursuant to Section 192A (2) of the of the Companies Act, 1956
read with the Companies (Passing of the Resolutions by Postal Ballot)
Rules, 2011.
Mar 31, 2010
1. Disclosure as required by "Accounting Standard 24: Discontinuing
Operations" and "Accounting Standard 28: Impairment of Assets"
a. The company was incurring heavy losses in textile business. Under
the circumstances the Board of directors in their meeting held on
29.10.2005 decided to discontinue the business operations of the
company and to sell the companys machinery & equipments and surplus
land to repay the liabilities of the company. The company has sold
entire plant & machinery and misc. fixed assets except for land &
building and some furniture & fixture during the year 2008.
2. Deferred Tax - In view of no certainty of future business deferred
tax assets has not been recognized.
3. Contingent Liability-
S. Particulars Amount Amount
No. (Rs. in Lacs) (Rs. in Lacs)
31.03.2010 31.03.2009
a) In respect of Cess demanded by
Textile Committee under 8.27 8.27
the Textile Committee (Cess)
Rules, 1975, for the period
from 1989 to 1997, against which
company has filed writ petition
of Raj. High Court for holding the
levy of Cess and for setting aside
the demand (Rs. 400000/- deposited
under protest & Rs. 426749/-
retained as security against
the demand by The Office of NHAI
land acquisition, Abu Road which
is included in Loans & Advances)
b) In respect of Excise Duty (NCCD)
and Penalty demanded 83.36 83.36
by Excise Department for clearances
during March, 2003, against which
the company has filed appeal with
Honble Tribunal Excise Custom &
Service Tax, New Delhi (Rs. 801632/
Deposited included in Loans &
Advances).
4. Segment Reporting- The company was engaged in manufacturing of
texturised, twisted & dyed yarns, however no business is being done
presently. Hence, no separate disclosure as required by AS-17 "SEGMENT
REPORTING" is given.
5. Due to Micro, Small & Medium Enterprises - To the extent of
information available with management, there are no SSI units to whom
Company owes money for more than 30 days. The Company has not received
any communication from the 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.
6. In the opinion of management, loans and advances and other assets
are approximately of the value stated, if realized in the ordinary
course of business unless and otherwise stated. The provisions of all
liabilities are adequate and not in excess of the amount reasonably
necessary.
7. Disclosure as required by Accounting Standard -18 on "Related
Party Disclosures" Issued by the Institute of Chartered Accountants of
India are as follows: a. Relationship
i. Key Management Personnel & their relatives
Mr. Amitabh Hirawat - Managing Director
Mr. Nathmal Hirawat - Chairman
Smt. Padam Devi Hirawat
ii. Enterprises owned or significantly influenced by key management
personnel or their relatives where transactions have taken place :
Shashwin Textiles Limited
Trepechy Trading Co. Pvt. Ltd.
Jaipur Green Fuels
Note : Related party relationship is as identified by the company &
relied upon by the Auditors.
8. Figures of the previous year have been regrouped and rearranged to
correspond to current years classification.
9. Figures have been rounded off to the nearest rupee
Mar 31, 2009
1. Disclosure gj required by "Accounting Standard 24 rDiscontinuina
Operations and "Accounting Standard 22 :lmpairment of Assets
a. The company was incurring heavy losses in textile business. Under
the circumstances mentioned above, As per the Board of directors in
their meeting held on 29.10.2005 decided to discontinue the business
operations of the company and to sell the companys machinery &
equipments and surplus land to repay the liabilities of the company.
The company has sold entire plant & machinery and misc. fixed assets
except for land & building during 2008.
2. Deferred Tax
In view of no certainty of future business deferred tax assets has not
been recognised.
3. Fringe Benefit Tax
In view of no employees in the company, no provision has been made for
Fringe Benefit Tax.
4. Contingent liability AMOUNT (RS. IN LACS)
31.03.2009 31.03.3008
a) In respect of Cess demanded
by Textile Committee under the Textile
Committee (Cess) Rules, 1975,
for the period from 1989 to 1997,
against 8.27 8.27
which company has filed writ
petition at Raj. High Court for holding the
levy of Cess and for setting
aside the demand (Rs. 400000/- deposited
under protest & Rs. 426749/- retained
as security against the demand by
The Office of NHAI land acquisition,
Abu Road which is included in Loans
& Advances)
b) in respect of Excise Duty (NCCD)
and Penalty demanded by Excise
Department for clearances during
March, 2003, against which the 83.36 83.36
company has fled appeal with
Honble Tribunal Excise Custom & Service
Tax, New Delhi (Rs. 801632/-
Deposited included in Loans & Advances).
5. Segment Reporting
The company was engaged in manufacturing of texturised, twisted & dyed
yams, however no bussiness is being done presently. Hence, no separate
disclosure as required by AS-17 "SEGMENT REPORTING" is given.
6. Due to Micro, Small & Medium Enterprises
To the extent of information available with management, there are no
SSI units to whom Company owes money for more than 30 days.
The Company has not received any communication from the 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.
7. In the opinion of management, loans and advances and other assets
are approximately of the value stated, if realised in the ordinary
course of business unless and otherwise stated. The provisions of all
liabilities are adequate and not in excess of the amount reasonably
necessary.
8. Disclosure as required by Accounting Standard - 18 on "Related
Party Disclosures" issued by the Institute of Chartered Accountants of
India are as follows:
a) Relationship
i. Key Management Personnel & their relatives Mr. Amitabh Hirawat
(Managing Director) Mr.Nathmal Hirawat, Chairman Smt. Padam Devi
Hirawat
ii. Enterprises owned or significantly influenced by key management
personnel or their relatives where transactions have taken place:
Shashwin Textiles Limited Jaipur Green Fuels
9. Figures of the previous year have been regrouped and rearranged to
correspond to current years classification.
10. Figures have been rounded off to the nearest rupee.