Mar 31, 2016
1. Figures of the previous year have been regrouped/rearranged/reclassified wherever considered necessary.
2. Enterprises over which significant influence exercised by Key Managerial Personnel/ Directors/Relatives of Key Management Personnel during the year: NIL
3. Disclosures required for related party transaction
4. Related party relationship is as identified by the Company on the basis of information available with them and accepted by the auditors as correct.
5. Company has entered into transactions with certain parties as listed above during the year under consideration. Full disclosures have been made and the Board considers such transaction to be in normal course of business and at rates agreed between the parties.
6. No amount has been written off or written back during the year in respect of debt due from or to related parties.
7.. Working Capital Borrowings:
The facilities from Andhra Bank are secured by hypothecation of stock of Raw Material, Stock in process, stores & Spares, Finished goods, Packing material, Book Debts, Bill discounted, etc. The credit facilities are secured by equitable mortgage of land belonging to the Company and other personal guarantees.
8. Term Loans:
Term loan facilities from Andhra Bank are secured by hypothecation of Plant & Machinery and equitable mortgage of land belonging to the Company and other personal guarantees.
The same are repayable in quarterly installments as per terms of sanction.
9. Details of Bank FDRâs held as on 31.03.2016:
10. The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Act, 2006 and hence disclosures, if any relating to amounts unpaid at the yearend together with interest paid/payable as required under the Act cannot be furnished.
11. Financial cost and other expenses related to projects have been capitalized.
Mar 31, 2015
1. The Company has not received any intimation from suppliers
regarding their status under the Micro, Small and Medium Enterprises
Act, 2006 and hence disclosures, if any relating to amounts unpaid at
the yearend together with interest paid/payable as required under the
Act cannot be furnished.
2. Financial cost and other expenses related to projects have been
capitalized.
Notes:
(1) Related party relationship is as identified by the Company on the
basis of information available with them and accepted by the auditors
as correct.
(2) Company has entered into transactions with certain parties as
listed above during the year under consideration. Full disclosures have
been made and the Board considers such transaction to be in normal
course of business and at rates agreed between the parties.
(3) No amount has been written off or written back during the year in
respect of debt due from or to related parties.
3. Working Capital Borrowings:
The facilities from Andhra Bank are secured by hypothecation of stock
of Raw Material, Stock in process, stores & Spares, Finished goods,
Packing material, Book Debts, Bill discounted, etc. The credit
facilities are secured by equitable mortgage of land belonging to the
Company and other personal guarantees.
4. Term Loans:
Term loan facilities from Andhra Bank are secured by hypothecation of
Plant & Machinery and equitable mortgage of land belonging to the
Company and other personal guarantees.
The same are repayable in quarterly installments as per terms of
sanction.
B. List of related parties and relationship
Related Party Relation
Key Managerial Personnel (KMP)
Mr. Ravindra Agrawal Managing Director
Relatives of KMP
Mrs. Shilpa Agrawal,Shri S. B. Agarwal,
Smt. Prem Lata Agarwal, Mr. Samarth Agarwal, Relatives of KMP
Ms. Rishika Agarwal, Ms. Saumya Agarwal,
Mr. D. K. Agarwal
Mar 31, 2014
1. Figures of the previous year have been
regrouped/rearranged/reclassified wherever considered necessary.
2. During the year, the Company has revalued part of its Fixed Asset
on the basis of market value and relevant effect has been taken in the
financial statements.
3. Disclosure of related party transactions:-
A. Parties where control Exists ----
B. List of related parties and relationship: RELATED PARTY RELATION
Key Managerial Personnel
Mr. Ravindra Agrawal* Managing Director
Mr. Sunil Agarwal# Director
Dr. A. G. Agarwal@ Director
* Mr. Ravindra Agarwal was appointed as Managing Director on 15th July
2013.
# Mr. Sunil Agarwal has resigned from the directorship of the Company
on 16th December, 2013.
@ With Effect from 15th July, 2013 Dr. A. G. Agarwal has resigned from
the position of Managing Director.
C. Enterprises over which significant influence exercised by Key
Managerial Personnel/Directors/Relatives of key Management Personnel
during the year:
I. Siyaram Motors Pvt. Ltd. 2. S. E. Investments Ltd.. 3. Siyaram
Shelters Pvt. Ltd. 4. Helios Aviation Pvt. Ltd.
5. Spring Education Ventures Pvt. Ltd. 6. S.E. Micro Housing Finance
Pvt. Ltd.
7. Osprey E- Commerce Pvt. Ltd. 8. Spring Communication Pvt. Ltd.
9. Stellar Constellation Projects Pvt. Ltd. 10. Eastern Star
Infradev Pvt. Ltd.
II. Aerotech Aviation India Pvt. Ltd. 12. Athens Computer
Technologies Pvt. Ltd. 13. S. E. Homefin Pvt. Ltd. 14. Spring
Infradev Ltd.
4. Stellar Spring Projects Pvt. Ltd. 16. Spring Trading Pvt. Ltd.
5. Aanjneya Motor Pvt. Ltd. 18. Nupur Finvest Pvt. Ltd.
6. Sarin & Sarin Investments Pvt. Ltd. 20. Superking Manufactures
(Tyre) Pvt. Ltd.
21. Spring City Centre (TRV) Pvt. Ltd. 22. Deepesh Consultancy Pvt.
Ltd.
23. Ujala Securities Pvt. Ltd. 24. Natansh Finlease Pvt. Ltd.
25. Spring Resorts Pvt. Ltd. 26. Blessings Builders Pvt. Ltd.
Notes:
(1) Related party relationship is as identified by the Company on the
basis of information available with them and accepted by the auditors
as correct.
(2) Company has entered into transactions with certain parties as
listed above during the year under consideration. Full disclosures have
been made and the Board considers such transaction to be in normal
course of business and at rates agreed between the parties. (3) No
amount has been written off or written back during the year in respect
of debt due from or to related parties.
6. Working Capital Borrowings:-
The facilities from Andhra Bank are secured by hypothecation of stock
of Raw Material, Stock in process, stores & Spares, Finished goods,
Packing material, Book Debts, Bill discounted, etc. The credit
facilities are secured by equitable mortgage of land belonging to the
Company and other personal guarantees.
7. Term Loans:-
Term loan facilities from Andhra Bank are secured by hypothecation of
Plant & Machinery and equitable mortgage of land belonging to the
Company and other personal guarantees. The same are repayable in
quarterly installments as per terms of sanction.
8. The Company has not received any intimation from suppliers
regarding their status under the Micro, Small and Medium Enterprises
Act, 2006 and hence disclosures, if any relating to amounts unpaid at
the year end together with interest paid/payable as required under the
Act can not be furnished.
Mar 31, 2013
1. Previous year figures are not comparable as the effect of the
Scheme of Arrangement.
2. Figures for the previous year have been regrouped/ rearranged/
reclassified wherever consid ered necessary.
3. Disclosure of related party transactions:-
4. No amount is payable to Small Scale Industrial Undertakings. The
Company has not received any intimation from suppliers regarding their
status under the Micro, Small and Medium Enterprises Act, 2006 and
hence disclosures, if any relating to amounts unpaid at the year end
together with interest paid/payable as required under the Act can not
be furnished.
5. The Company has only one segment. Accordingly, Reporting as per
Accounting Standard-17 is not applicable.
6. There are no Contingent liabilities as on 31.03.2013.
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