Home  »  Company  »  Sampada Chemical  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Sampada Chemicals Ltd.

Mar 31, 2011

1. Disclosure under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 could not be furnished as none of the suppliers of the Company have provided the details of their registration under the said Act.

2. As stipulated in AS-28, the Company assessed potential generation of economic benefits from its business units and is of the view that the assets employed in continuing business are capable of generating adequate returns over their useful lives in the usual course of business, there is no indication to the contrary and accordingly the management is of the view that no impairment provision is called for in these accounts.

3. Interest on outstanding loans has been accounted only if there is stipulation to that effect.

4. Some of the loans, advances, debit and credit balances are subject to confirmation and reconciliation.

5. In the opinion of the Board, the Current Assets, Loans & Advances are approximately of the value stated in the balance sheet if realized in the ordinary course of business. The provision for all known and determined liabilities are adequate and not in excess of the amount reasonably required.

6. Related Party Disclosure pursuant to Accounting Standard - 18 :

A) List of Related Parties

1. Party where control exists a) Subsidiary Company : NIL

b) Key Management Personnel :

Mr. VIPUL V. BHATT - Director Mr. BIJAL V. BHATT - Director

1) Other Parties where the Company has entered into transactions during the year

i) Enterprises over which Individuals (having substantial interest in the Company) and/or their relatives, exercise significant Claridge Moulded Fibre Ltd. Svaraj Trading & Agencies Ltd. Kopran Laboratories Ltd. Parijat Shipping & Finale Ltd. Kopran Ltd.

S.V.Trading & Agencies Ltd. Sarvamangal Mercantile Co. Ltd. G. Claridge & Company Ltd. Oricon Enterprises Ltd.

Note : Related Party Relationships have been identified by the management and relied upon by the Auditors.

The company does not have any outstanding dilutive potential equity shares. Consequently, the basic and diluted earning per share of the company remain the same.

7. In view of time limitations on carry forward of losses and as a matter of prudence Deferred Tax Assets arising on account of brought forward losses and unabsorbed Depreciation under tax laws has not been recognised.

8. Figures of previous period have been regrouped and reclassified wherever necessary to make them comparable with the figures of current year.


Mar 31, 2010

1. Disclosure under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 could not be furnished as none of the suppliers of the Company have provided the details of their registration under the said Act.

2. As stipulated in AS-28, the Company assessed potetial generation of economoic benefits from its business units and is of the view that the assets employed in continuing business are capable of generating adequate returns over their useful lives in the usual course of business, there is no indication to the contrary and accordingly the management is of the view that no impairment provision is called for in these accounts.

3. Interest on outstanding loans has been accounted only if there is stipulation to that effect.

4. Some of the loans, advances, debit and credit balances are subject to confirmation and reconciliation.

5. In the opinion of the Board, the Current Assets, Loans & Advances are approximately of the value stated in the balance sheet if realised in the ordinary course of business. The provision for all known and determined liabilities are adequate and not in excess of the amount reasonably required.

6. Income on Investment in loan purchased : The income is accounted for proportionately the difference between cost of loan purchased and amount to be received, over the period of loan term. There has been a diminution in the value of long term quoted investments to the extent of Rs. 2,90,74,442 (P.Y. Rs. 44,222,225). No provision has been made for the same since in the opinion of the management the diminution is on account of temporary market feature and the said investments are not intended to be traded.

7. Related Party Disclosure pursuant to Accounting Standard - 18 : A) List of Related Parties

1. Party where control exists

a) Subsidiary Company

: NIL

b) Key Management Personnel :

Mr. Adarsh Somani Director

Mr. Suhrid Somani Director

2) Other Parties where the Company has entered into transactions during the year

Claridge Moulded Fibre Ltd. Svaraj Trading & Agencies Ltd. Sourabh Trading Pvt. Ltd. Kamala Udyoga Ltd. Kopran Laboratories Ltd. Parijat Shipping & Finale Ltd. Kopran Ltd. S.V.Trading & Agencies Ltd. Sarvamangal Mercantile Co. Ltd. G . Claridge & Company Ltd. National Cotton Product Pvt. Ltd. Oriental Enterprises

Note : Related Party Relationships have been identified by the management and relied upon by the Auditors.

8. In view of time limitations on carry forward of losses and as a matter of prudence Deferred Tax Assets arising on account of brought forward losses and unabsorbed Depreciation under tax laws has not been recognised.

9. Figures of previous period have been regrouped and reclassified wherever necessary to make them compa- rable with the figures of current year.


Mar 31, 2009

1. Disclosure under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 could not be furnished as none of the suppliers of the Company have provided the details of their registration under the said Act.

2. As stipulated in AS-28, the Company assessed potctial generation of economoic benefits from its business units and is of the view that the assets employed in continuing business are capable of generating adequate returns over their useful lives in the usual course of business, there is no indication to the contrary and accordingly the management is of the view that no impairment provision is called for in these accounts.

3. Interest on outstanding loans has been accounted only if there is stipulation to that effect.

4. Some of the loans, advances, debit and credit balances are subject to confirmation and reconciliation.

5. In the opinion of the Board, the Current Assets, Loans & Advances arc approximately of the value staled in. the balance sheet if realised in the ordinary course of business. The provision for all known and determined liabilities are adequate and not in excess of the amount reasonably required.

6. Income on Investment in loan purchased : The income is accounted for proportionately the difference between cost of loan purchased and amount to be received, over the period of loan term. There has been a diminution in the value of long term quoted investments to the extent of Rs. 44,222,225 (P.Y. Rs. 36,372,352 ). No provision has been made for the same since in the opinion of the management the diminution is on account of temporary market feature and the said investments are not intended to be traded.

7. Related Party Disclosure pursuant to Accounting Standard - 18 :

A) List of Related Parties

I. Party where control exists

a) Subsidiary Company :

NIL

b) Key Management Personnel:

Mr. Adarsh Somani Director

Mr. Suhrid Somani Director

I) Other Parties where the Company has entered into transactions during the year

i) Enterprises over which Individuals (having substantial interest in the Company) and/or their relatives, exercise significant Claridge Moulded Fibre Ltd. Svaraj Trading & Agencies Ltd. Sourabh Trading PvL Ltd. Kamala Udyoga Ltd. Kopran Laboratories Ltd. Parijat Shipping & Finale Ltd. Kopran Ltd.

S.V.Tradihg & Agencies Ltd. Sarvamangal Mercantile Co. Ltd. G. Claridge & Company Ltd. Claridge Investments Ltd. National Cotton Product Pvt. Ltd. Oriental Enterprises

Note: Related Party Relationships have been identified by the management and relied upon by the Auditors.

8. In view of time limitations on cany forward of losses and as a matter of prudence Deferred Tax Assets arising on account of brought forward losses and unabsorbed Depreciation under tax laws has not been recognised.

9. Figures of previous period have been regrouped and reclassified wherever necessary to make them comparable with the figures of current year.

 
Subscribe now to get personal finance updates in your inbox!