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Notes to Accounts of SC Agrotech Ltd.

Mar 31, 2014


As on 31.03.2014 As on 31.03.2013 Claims against the company not acknlowedge as debts Income Tax matters Sales Tax Matters Other court matters Charge created on Assets by Jayshee 30,000,000.00 30,000,000.00 investment Private Limited-12.10.2011

Mar 31, 2013

1 Background

Company had been incorporated in 23.11.1990 and listed in National Stock Exchange and Bombay Stock Exchange. Nature of business of company is growing & harvesting of plant and trading of plant.

2 In absence of any intimation from the vendors with regard to their registration under the micro, small and medium enterprises development act. 2006 and in view of the terms of payments not exceeding 45 days, no liability exists at the close of the year and hence no disclosures have been made in this regard.

3 Previous year figures have been regrouped and rearranged wherever necessary to make them comparable with that of the current year.

4 Contingent Liabilities:

a) Capital Contracts remaining to be executed. NIL NIL

b) Claims against the Company not acknowledged as debts. NIL NIL

c) Other monies for which the Company is contingently liable. NIL NIL

Mar 31, 2012


As at 31.03.2012 As at 31.03.2011

Capital Contracts remaining to be Executed - -

Claims against the Company not acknowledged as debts - -

Other monies for which the Company is Contigentely liable - -

2. The Company has not dealt in the foreign currency in the current year and previous year. The company has neither imported any material nor exported any material. Further the company has not incurred any expenditure in foreign currency.

3. During the year, company has charged depriciation on Plant & Machinery from retospective effect i.e. depriciation for the period April 1st, 1999 to March 31st, 2011 and current year for which, the depriciation was not charged in earlier years. Depriciation has been charged at the single shift SLM rate upto 95% of the total asset value.


Key Management Personnel Shri Nitin Maheshwari Shri Madan Chandra Das Shri Rishabh Bhutra

5. In the absense of taxable income during the year, no provision for taxation has been made. The company has not recognised deferred tax asset (net) as on 31st March 2012 in the absense of virtual certainity of future taxable income.

6. The Company is engaged only in one business a nd therefore has only one reportable segment.

7. No amount is outstanding to Micro, Small & Medium Enterprises based upon information available with the company.

Mar 31, 2010

Current Year Previous Year

1. Contigent Liabilities

Capital Contract remaining to be executed Nil Nil

Claims against the Company not acknowledge Nil Nil

Other monies for which the company is contigently liable Nil Nil

2. Value of Imports on CIF basis in respect of

(a) Raw Material Nil Nil

(b) Stored & Spares Parts Nil Nil

(c) Capital Goods Nil Nil

(d) Trading goods Nil Nil

3. Expenses in foreign currency on account of royalty, knowhow, Nil Nil professional consultation fees, Interest and other matters:

Foreign travel Nil Nil

Exhibition and Trade Fairs Expenses Nil Nil

Purchases Nil Nil

Other expenses, if any: Nil Nil

4. Earning in Foreign Exchange:

(a) Export of goods calculated on FOB basis Nil Nil

(b) Commission Nil Nil 5. During the year no interest has been provided on secured loans from the Central Bank of India, hence the amount of loan is unascertainable.

6. Depreciation on Plant & Machinery has not been charged for the year, as the plant of the company is not in operation.

7. The Company has been suspended from trading in security with effect from February 5, 2001 on account of non compliance of listing agreement.

8. Regardign the Fixed deposit @7% of Rs. 93,63,810/- received from Non Resident Indian shown under the unsecured Loan in the earlier years, no provision of interest due on above deposits amounting to Rs. 91.05 Lacs (Previous year Rs. 84.50 Lacs) was made.

In the current year the management (on their written undertaking) has written off this deposits Amount as unclaimed amount along with a unsecured loan of Rs. 19,64,556/-

9. The Company is not operative and the future profit are not ascertainable, hence the deffer tax/liability is not considered.

10. Segmenting Reporting

There is no business during the year hence no requirement to disclose the segment revenue.

11. Amount, if any due to Small Scale Venders exceeding Rs. 1 Lacs

Schedule 1 to 10 form an internal part of the Balance Sheet and Profit & Loss Account has been authenticated.

Oct 26, 12:00 am
Oct 26, 4:14 pm
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