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Notes to Accounts of Ruchira Papers Ltd.

Mar 31, 2015

1.1 The term loans from Banks are secured by first Parri Passu charge created/ to be created on existing and proposed block of assets of the Company by way of hypothecation of Machinery and Equipment and other fixed assets and equitable Mortgage of Land and Building of the company and further secured by the personal guarantee of the Managing Director and the Whole Time Directors and further secured by the personal guarantee of the relatives of the Directors. Term loans are further secured by 2nd Parri Passu charge on the current assets of the Company. The Vehicle loans are secured by hypothecation of vehicles acquired against such loans.Home loan is secured by first charge on flat at GK-II New Delhi.

1.1 The working capital limits (Fund Based and Non-Fund Based)from banks are secured by first Parri Passu charge on current assets of the company both present and future and shall include raw materials, semi finished goods in process, finished goods, stores and spares and book debts of the Company and further secured by personal guarantees of the Managing Director and Whole Time Directors and their relatives. The limits are further secured by second Parri Passu charge on the fixed assets of the company.

2.1 As per Accounting Standard 15"Employee benefits", the disclosures as defined in the Accounting Standard are given below:

Defined Benefit Plan

The employees' gratuity fund scheme managed by trust is a defined benefit plan. The present value of obligation is determined based on Actuarial Valuation using the Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is determined based on Actuarial valuation using Projected Unit Credit Method

3 CONTINGENT LIABILITIES AND COMMITMENTS

Rs.In Lacs As at 31st March, 2015 As at 31st March, 2014

Contingent Liabilities

(A) Claims against the Company/ disputed liabilities not acknowledged as debts

In respect of Excise Duty demand raised, which in the opinion 310.43 310.43 of the Management are not tenable and are under appeal at Custom, Excise & Service Tax Appellate Tribunal, New Delhi.

(B) Guarantees

Outstanding guarantees furnished to various banks in respect 444.76 399.04 of the guarantees given by those banks in favour of various government authorities and others including Letters of Credits Commitments

(A) Estimated amount of contracts remains to be executed on -- -- capital account (Net of advances)


Mar 31, 2014

1. The term loans from Banks are secured by first Parri Passu charge created/ to be created on existing and proposed block of assets of the Company by way of hypothecation of Machinery and Equipment and other fixed assets and equitable Mortgage of Land and Building of the company and further secured by the personal guarantee of the Managing Director and the Whole Time Directors and further secured by the personal guarantee of the relatives of the Directors. Term loans are further secured by 2nd Parri Passu charge on the current assets of the Company. The Vehicle loans are secured by hypothecation of vehicles acquired against such loans.Home loan is secured by first charge on flat at GK-II New Delhi.

2. The working capital limits (Fund Based and Non-Fund Based)from banks are secured by first Parri Passu charge on current assets of the company both present and future and shall include raw materials, semi finished goods in process, finished goods, stores and spares and book debts of the Company and further secured by personal guarantees of the Managing Director and Whole Time Directors and their relatives. The limits are further secured by second Parri Passu charge on the fixed assets of the company.

3. As per Accounting Standard 15"Employee benefits", the disclosures as defined in the Accounting Standard are given below:

Defined Benefit Plan

The employees'' gratuity fund scheme managed by trust is a defined benefit plan. The present value of obligation is determined based on Actuarial Valuation using the Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is determined based on Actuarial valuation using Projected Unit Credit Method

4. CONTINGENT LIABILITIES AND COMMITMENTS

Rs. In lacs

As at 31st As at 31st March, 2014 March, 2013 Contingent Liabilities

(A) Claims against the Company/disputed liabilities not acknowledged as debts

In respect of various demands raised, which in the opinion of the Management are not tenable and are under appeal at various stages:

Excise Matter 310.43 310.43

(B) Guarantees

Guarantees and Letter of Credit given by the bank on behalf of the company 297.52 399.04

Commitments

(A) Estimated amount of contracts remains to be executed on capital account (Net of - - advances)


Mar 31, 2013

1.1 1965500(Previous year 1965500) equity shares out of the issued ,subscribed and paid up share capital were allotted pursuant to the scheme of amalagtion without payments being received in cash

2.1 The working capital limits (Fund Based and Non-Fund Based)from banks are secured by first Parri Passu charge on current assets of the company both present and future and shall include raw materials, semi finished goods in process, finished goods, stores and spares and book debts of the Company and further secured by personal guarantees of the Managing Director and Whole Time Directors and their relatives. The limits are further secured by second Parri Passu charge on the fixed assets of the company.

3.1 As per Accounting Standard 15"Employee benefits", the disclosures as defined in the Accounting Standard are given below:

Defined Benefit Plan

The employees'' gratuity fund scheme managed by trust is a defined benefit plan. The present value of obligation is determined based on Actuarial Valuation using the Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is determined based on Actuarial valuation using Projected Unit Credit Method

4 SEGMENT INFORMATION

Primary segment information:

The Company operates in only one main segment i.e. manufacturing of Paper

5 CONTINGENT LIABILITIES AND COMMITMENTS Rs.in Lakh

As at 31st March, 2013 As at 31st March, 2012

Contingent Liabilities

(A) Claims against the Company/ disputed liabilities not acknowledged as debts

In respect of various demands raised, which in the opinion of the Management are not tenable and are under appeal at various stages:

Excise Matter 310.43 310.43

(B) Guarantees

Guarantees and LetterofCredit givenbythe bankonbehalfof 399.04 259.62 the company

Commitments

(A) Estimated amount of contracts remains to be executed on ------ ------

capital account (Net of advances)


Mar 31, 2012

1.1 1965500(Previous year 1965500) equity shares out of the issued ,subscribed and paid up share capital were allotted pursuant to the scheme of amalagtion without payments being received in cash

2.1 The term loans from Financial Institutions and Banks are secured by first Parri Passu charge created/ to be created on existing and proposed block of assets of the Company by way of hypothecation of Machinery and Equipment and other fixed assets and equitable Mortgage of Land and Building of the company and further secured by the personal guarantee of the Managing Director and the Whole Time Directors and term loan from Banks are further secured by the personal guarantee of the relatives of the Directors. Term loans are further secured by 2nd Parri Passu charge on the current assets of the Company. The Vehicle loans are secured by hypothecation of vehicles acquired against such loans

3.1 The working capital limits (Fund Based and Non-Fund Based)from banks are secured by first Parri Passu charge on current assets of the company both present and future and shall include raw materials, semi finished goods in process, finished goods, stores and spares and book debts of the Company and further secured by personal guarantees of the Managing Director and Whole Time Directors and their relatives. The limits are further secured by second Parri Passu charge on the fixed assets of the company.

4.1 As per Accounting Standard 15"Employee benefits", the disclosures as defined in the Accounting Standard are given below: Defined Benefit Plan

The employees' gratuity fund scheme managed by trust is a defined benefit plan. The present value of obligation is determined based on Actuarial Valuation using the Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is determined based on Actuarial valuation using Projected Unit Credit Method

5 CONTINGENT LIABILITIES AND COMMITMENTS

Rs.in Lacs

As at 31st March, 2012 As at 31st March, 2011

Contingent Liabilities

(A) Claims against the Company/disputed liabilities not acknowledged as debts

In respect of various demands raised, which in the opinion of the Management are not tenable and are under appeal at various stages: Excise Matter 310.43 310.43

(B) Guarantees

Guarantees and Letter of Credit given by the bank on behalf of 259.62 217.44 the company

Commitments

(A) Estimated amount of contracts remains to be executed on .... .... capital account (Net of advances)


Mar 31, 2011

A. Contingent Liabilities not provided for

(Rs. In Lacs)

S. Particulars 31-03-2011 31-03-2010 No

A In respect of various demands raised, which in the opinion of the Management are not tenable and are under appeal at various stages:

Excise Matter 310.43 310.89

B Estimated amount of contracts remains - - to be executed on capital account (Net of advances)

C Guarantees and Letter of Credit given 217.44 259.62 by the bank on behalf of the compan

B. The term loans from Financial Institutions and Banks are secured by first Parri Passu charge created/ to be created on existing and proposed block of assets of the Company by way of hypothecation of Machinery and Equipment and other fixed assets and equitable Mortgage of Land and Building of the company and further secured by the personal guarantee of the Managing Director and the Whole Time Directors and term loan from Banks are further secured by the personal guarantee of the relatives of the Directors. Term loans are further secured by 2nd Parri Passu charge on the current assets of the Company. The Vehicle loans are secured by hypothecation of vehicles acquired against such loans.

C. The working capital limits (Fund Based and Non-Fund Based)from banks are secured by first Parri Passu charge on current assets of the company both present and future and shall include raw materials, semi finished goods in process, finished goods, stores and spares and book debts of the Company and further secured by personal guarantees of the Managing Director and Whole Time Directors and their relatives. The limits are further secured by second Parri Passu charge on the fixed assets of the company.

D. Remuneration paid to Directors during the year is Rs. 1,72,80,000/- (Previous year Rs.1,72,80,000/-)

E. The name of Micro small and medium enterprises to whom the company owes a sum of exceeding Rs 100000/- which is outstanding more than 30 days based on the information to the extent available with the company and as certified by the Management is as under:-

ABHAY LIME INDUSTRIES JAI VARDHMAN KHANIZ PVT.LTD.

AGRO PULPING MACHINERY PVT.LTD. JMD POLYMERS

ALFA CONTAINERS MACTROL-MOTION CONTROL P.LTD.

AMAR ELASTOMERS PVT.LTD. PRESSELS PVT.LTD.

AMBIKA ENTERPRISES, PRIME FABRIQUE WORKSHOP

ASHU ENGINEERING COMPANY PUNJAB ACIDS-CHEM (P)LTD.

BANSAL ENTERPRISES. R.C.PAPER MACHINES

BANSAL LIME & CHEMICALS RAGHAV INDUSTRIAL PRODUCTS K.AMB

D.K.LIME INDUSTRIES SHARP STEEL INDUSTRIES

DALA KOTI MINERALS & CHEMICAL SHREE CHLORATES

ELECTROTECH ENGINEERS ,CHD. TELLABS CHEMICALS PVT. LTD.

ETE ELECTROGEARS PVT. LTD. THE PUNJAB BUSINESS & SUPPLY CO.P.LTD.

H & T ENGG. UNISTEEL ENGG. & FABRICATORS

HIRA FOUNDARY & ENGG. WORKS V.R. HYDROCHEM P.LTD.

HI-TECH ENGG. INDIA (P) LTD VIMAL MACHINE TOOLS

IVAX PAPER CHEMICALS LTD

I. Related Party Disclosures

i) Names of Related Parties :

Name of the Related Party Relationship Promoters/Key Managerial Personnel

Sh. Umesh Chander Garg Promoter & Managing Director

Sh. Jatinder Singh Promoter & Whole Time Director

Sh . Subhash Chander Garg Promoter & Whole Time Director

Sh J.N.Singh Executive Director

Smt Shashi Garg Promoter

Smt Parveen Garg Promoter

Smt Charanjeet Kaur Promoter

Subsidiary Company None

Companies in which Directors are Substantially interested

Sirmaur Hotels (P) Ltd. Sh Jatinder Singh is Director in the Company

Jasmer Foods (P) Ltd. Sh Jatinder Singh is Director in the Company

Relative/ Enterprises of Relatives of Key Managerial Personnel

Ruchira Packaging product (P) Ltd. Promoted by Sh Deepan Garg,Sh Atul Garg & Sh Lucky Garg Sons' of Sh Umesh Chander Garg

Jasmer Pack Limited. Promoted by Smt Charanjeet Kaur wife of Sh Jatinder Singh and Sh.Jagdeep Singh and Sh. Daljeet Singh Sons of Sh.Jatinder Singh .

Well Pack. Promoted by Sh Deepan Garg, Sh Atul Garg & Sh Lucky Garg Sons of Sh Umesh Chander Garg.

York Cellulose (P) Ltd. Promoted by Sh Deepan Garg, Sh Atul Garg & Sh Lucky Garg Sons of Sh Umesh Chander Garg.

Garg Medical Hall Sh Naresh Garg Proprietor of the firm is the brother of Sh Subhash Chander Garg &Sh Umesh Chander Garg.

Thakur Ji Paper Sh.J.N.Singh is interested through Smt.Radhika Singh (wife) and Sh.Lalit Singh (son).

F. The Previous Year figures have been reworked, regrouped where ever necessary to confirm to this year's classification.

G. The previous year figures have been reworked, regrouped where necessary to confirm to this year's classification

Schedule A to O form integral part of the Balance Sheet and Profit & Loss Account


Mar 31, 2010

A. Contingent Liabilities not provided for

(Rs. In Lacs)

S. No. Particulars 31-03-2010 31-03-2009

A In respect of various demands raised, which in the opinion of the Management are not tenable and are under appeal at various stages:

I Excise Matter 310.89 310.89

B Estimated amount of contracts remains to be executed on capital -- 5.10 account (Net of advances)

C Guarantees and Letter of Credit given by the bank on behalf of 259.62 341.10 the company

B. The term loans from Financial Institutions and Banks are secured by first Parri Passu charge created/ to be created on existing and proposed block of assets of the Company by way of hypothecation of Machinery and Equipment and other fixed assets and equitable Mortgage of Land and Building of the company and further secured by the personal guarantee of the Managing Director and the Whole Time Directors and term loan from Banks are further secured by the personal guarantee of the relatives of the Directors. Term loans are further secured by 2nd Parri Passu charge on the current assets of the Company. The Vehicle loans are secured by hypothecation of vehicles acquired against such loans.

C. The working capital limits ( Fund Based and Non Fund Based)from banks are secured by first Parri Passu charge on current assets of the company both present and future and shall include raw materials, semi finished goods in process, finished goods, stores and spares and book debts of the Company and further secured by personal guarantees of the Managing Director and Whole Time Directors and their relatives. The limits are further secured by second Parri Passu charge on the fixed assets of the company.

D. Remuneration paid to Directors during the year is Rs. 1,72,80,000/- (Previous year Rs.1,71,08,787/-)

E. Related Party Disclosures

i) Names of Related Parties :

Name of the Related Party Relationship

Promoters/Key Managerial Personnel

Sh. Jatinder Singh Promoter & Chairman

Sh . Subhash Chander Garg Promoter & Co-Chairman

Sh. Umesh Chander Garg Promoter & Managing Director

Sh J.N.Singh Executive Director

Smt Shashi Garg Promoter

Smt Parveen Garg Promoter

Smt Charanjeet Kaur Promoter

Subsidiary Company None

Companies in which Directors are Substantially interested

Sirmour Hotels ( P ) Ltd. Sh Jatinder Singh is Director in the Company

Jasmer Foods ( P ) Ltd. Sh Jatinder Singh is Director in the Company

Jasmer Pack Ltd. Sh Jatinder Singh is Director in the Company

Relative/ Enterprises of Relatives of Key Managerial Personnel

Ruchira Packaging product ( P ) Ltd. Promoted by Sh Deepan Garg, Sh Atul Garg & Sh Lucky

Garg Sons of Sh Umesh Chander Garg

Jasmer Pack. Smt Charanjit Kaur Proprietor of firm is wife of Sh Jatinder Singh.

Ruchira Printing & Packaging. Promoted by Sh Deepan Garg, Sh Atul Garg & Sh Lucky Garg Sons of Sh Umesh Chander Garg.

Jasmer Packer Sh.Jatinder Singh interested through their sons

Sh.Jagdeep Singh and Sh Daljeet Singh.

Well Pack. Promoted by Sh Deepan Garg, Sh Atul Garg & Sh Lucky Garg Sons of Sh Umesh Chander Garg.

York Cellulose (P) Ltd. Promoted by Sh Deepan Garg, Sh Atul Garg & Sh Lucky Garg Sons of Sh Umesh Chander Garg.

Garg Medical Hall Sh Naresh Garg Proprietor of the firm is the brother of Sh Subhash Chander Garg & Sh Umesh Chander Garg.

Thakur Ji Paper Sh.J.N.Singh is interested through Smt.Radhika Singh(wife) and Sh.Lalit Singh(son).

F. The Previous Year figures have been reworked, regrouped where ever necessary to confirm to this years classification.

G. The previous year figures have been reworked, regrouped where necessary to confirm to this years classification Schedule A to N form integral part of the Balance Sheet and Profit & Loss Account

 
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