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Notes to Accounts of Shiva Global Agro Industries Ltd.

Mar 31, 2015

1. THE COMPANY AND NATURE OF ITS OPERATIONS:

Shiva Global Agro Industries Ltd having corporate office in Nanded, Maharashtra, India carries on manufacturing and trading of fertilizers.

2. Share Capital

(a) Terms/rights attached to equity shares

The company has one class of share referred to as Equity shares having a par value of Rs.10 per share. Each holder of equity shares is en- titled to one vote per share. The dividend pro- posed by the Board of Directors, if any, is subject to the approval of the shareholders in ensuing Annual General Meeting, except in case of interim dividend. In the event of liqui- dation, the equity shareholders will be entitled to receive the remaining assets of the company after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

3. Micro, Small and Medium Enterprises:

There are no dues outstanding to Micro, Small and Medium Enterprises beyond the due date as at the Balance Sheet date. The above information regarding Micro, Small and Medium enterprises have been determined to the extent such parties have been identified on the basis of information available with the Company and relied upon by the auditors.

4. Contingent Liabilities

(Amount in Rs.)

(to the extent not provided for) 31 March, 2015 31 March, 2014

Outstanding bank guarantees 30,25,000 3,30,25,000 Claims against the Company not acknowledged as debts in respect of matters under dispute relating to:

Cess 55,66,391 55,66,391

Income Tax - 47,52,420

Custom Duty 18,36,639 -

Others 1,30,000 -

Letter of Credit issued by Bankers 14,57,14,681 2,93,46,578

Total 15,62,72,711 7,26,90,389

5. Related Party Disclosures

(a) Names of related parties and nature of related parties relationship where control exists.

Subsidiaries:

i) Kirtiman Agrogenetics Limited

ii) Shiva Parvati Poultry Feed Private Limited

iii) Shrinivasa Agro Foods Private Limited

iv) Ghatprabha Fertilizers Private Limited

Key Management Personnel

i) Mr. Narayanlal P. Kalantri

Relatives of Key Management Personnel

i) Mr. Nandkishor Toshniwal

ii) Mr. Mohit Maliwal

Associates

i) Shiva Global Biotech

ii) Laxmi Sai Developers

Enterprises owned or significantly influenced by group of individuals or their relatives who have control or significant influence over the Company :

i) Kalantri Engineering Works

ii) Madhu Industries

iii) Ravito Engineering Works

iv) Preeti Enterprises Incorporated

v) Sai Trading Company

vi) Vijay Fertilizers Agency

vii) Kedar Krishi Seva Kendra

viii) Durgeshwari Seeds & Fertilizers

Note: Related party relationship have been certified by the Management and relied upon by the auditors.

6. Prior period items amounting to Rs. 89,097/- (Previous year Rs. 21,91,555/-) include short or excess provision for taxes, revenues and expenses.

7. Previous year's figures have been regrouped and reclassified, wherever required.

8. Figures have been rounded off to the nearest rupee.


Mar 31, 2014

1 The balance in parties accounts are subject to confirmation and reconciliation, if any. In the opinion of the management all current assets including stock-in-trade/sundry debtors and loans and advances in the normal course of business would realize the value at least to the extent stated in the Balance Sheet.

2 Micro, Small and Medium Enterprises:

There are no dues outstanding to Micro, Small and Medium Enterprises beyond the due date as at the Balance Sheet date. The above information regarding Micro, Small and Medium enterprises have been determined to the extent such parties have been identified on the basis of information available with the Company and relied upon by the auditors.

3 Contingent Liabilities (Amount in Rs.)

(to the extent not provided for) 31 March, 2014 31 March, 2013

Outstanding bank guarantees 30,25,000 3,30,25,000

Claims against the Company 1,03,18,811 55,66,391 not acknowledged as debts

Letter of Credit issued by Bankers 2,93,46,578 -

Total 4,26,90,389 3,85,91,391

4 Prior period items amounting to Rs. 89,097/- (Previous year Rs. 21,91,555/-) include short or excess provision for taxes, revenues and expenses.

5 Previous year''s figures have been regrouped and reclassified, wherever required.

6 Figures have been rounded off to the nearest rupee.


Mar 31, 2013

1 The balance in parties accounts are subject to confirmation and reconciliation, if any. In the opinion of the management all current assets including stock-in-trade/sundry debtors and loans and advances in the normal course of business would realize the value at least to the extent stated in the Balance Sheet.

2 Micro, Small and Medium Enterprises:

There are no dues outstanding to Micro, Small and Medium Enterprises beyond the due date as at the Balance Sheet date. The above information regarding Micro, Small and Medium enterprises have been determined to the extent such parties have been identified on the basis of information available with the Company and relied upon by the auditors.

3 Previous year''s figures have been regrouped and reclassified, wherever required.

4 Figures have been rounded off to the nearest rupee.


Mar 31, 2012

1. CONTINGENT LIABILITIES

(to the extent not provided for)

Outstanding bank guarantees 59,425,000 13,130,000

Claims against the Company not acknowledged as debts 5,566,391 1,500,000

Letter of Credit issued by Bankers - 5,000,000

Total 64,991,391 19,630,000

2. The balance in parties accounts are subject to confirmation and reconciliation, if any. In the opinion of the management all current assets including stock-in-trade/sundry debtors and loans and advances in the normal course of business would realize the value at least to the extent stated in the Balance Sheet.

3. MICRO, SMALL AND MEDIUM ENTERPRISES

There are no dues outstanding to Micro, Small and Medium Enterprises beyond the due date as at the Balance Sheet date. The above information regarding Micro, Small and Medium enterprises have been determined to the extent such parties have been identified on the basis of information available with the Company and relied upon by the auditors.

4. RELATED PARTY DISCLOSURES

a) Names of related parties and nature of related parties relationship where control exists.

Subsidiaries:

i) M/s. Kirtiman Agro Genetics Ltd.

ii) M/s. Shiva Parvati Poultry Feed Private Ltd.

iii) M/s. Shrinivasa Agro Foods Private Ltd.

iv) M/s. Ghatprabha Fertilizers Private Ltd.

Key Management Personnel

i) Mr. Omprakash K. Gilda

ii) Mr. Arun R. Toshniwal

iii) Mr. Deepak S. Maliwal

iv) Mr. Narayanlal P. Kalantri

v) Mr. Sambhaji L. Pawar

vi) Mr. Vijay O. Agrawal

vii) Mr. Satish P. Maheshwari

viii) Dr. Ruturaj Jadhav

ix) Dr. Santosh Malpani

x) Mr. Divakar Shetty

xi) Mr. Shankarrao Dastapure

xii) Mr. Rajgopal Bhutada

Relatives of Key Management Personnel

i) Mrs. Sarojdevi N. Kalantri

ii) Mrs. Ahilyadevi K. Maliwal

iii) Mrs. Vijaya Toshniwal

iv) Mr. Nandkishor Toshniwal

v) Ms. Preeti M. Kalantri

Enterprises owned or significantly influenced by group of individuals or their relatives who have control or significant influence over the Company:

i) M/s. Kalantri Engineering Works

ii) M/s. Madhu Industries

iii) M/s. Ravito Engineering Works

iv) M/s. Sai Trading Company

v) M/s. Vijay Fertilizers Agency

vi) M/s. Kedarnath Jaivik Khate Utpadak

vii) M/s. Kedar Krishi Seva Kendra

viii) M/s. Durgeshwari Seeds & Fertilizers

ix) M/s. Preeti Enterprises Incorporated

x) M/s. Kartik Agro Chem Private Ltd.

Associates

i) M/s. Shiva Global Biotech

ii) M/s. Laxmi Sai Developers

Note: Related party relationship have been certified by the Management and relied upon by the auditors.

5. Figures have been rounded off to the nearest rupee.


Mar 31, 2010

1. The Company has allotted 1,312,500 equity shares of Rs. 10/- each at a premium of Rs. 30/- each on preferential basis present to the offer of preferential issue of equity shares to the promoters, promoters group or non-promoters. The Company has allotted 1,312,500 equity shares pursuant to conversion of convertible warrants @Rs.30/- each convertible into one equity share of Rs. 10/- each at a premium of Rs. 30 each. The Company has utilized the funds so received for the purpose of investment.

2. a) Loans from bank on cash credit, term loan and bank guarantee are secured by hypothecation of stock of raw materials, finished goods, work-in-process, stores, book debts, fixed assets and personal guarantee of the executive and Non-Executive Directors of the Company.

3. Contingent Liabilities.

Particulars 31st March, 2010 31st March, 2009

i) Contingent Liabilities:

a) Outstanding bank guarantees 28.25 963.25

b) Claims against the Company not acknowledged as debts 177.13 5.00

c) Letter of Credit issued by Bankers 450.00 Nil

4. Related Party Disclosures

a) Names of related parties and nature of related parties relationship where control exists: Subsidiaries

i) Kirtiman Agro Genetics Limited, Aurangabad ii) Shiva Parvati Poultry Feeds Private Limited, Hingoli iii) Shrinivasa Agro Foods Private Limited, Nanded iv) Ghatprabha Fertilizers Private Limited, Raibag Relatives of Key Management Personnel i) Braj Polymers, Nanded ii) Kalantri Engineering Works, Nanded iii) Madhu Industies, Nanded iv) Ravito Engineering Corporation, Nanded v) Sai Trading Company, Nanded vi) Vijay Fertilizers Agency, Parbhani Vii) Kedarnath Jaivik Khate, Nanded Viii) Kedar Krishi Sewa Kendra, Manatha ix) Durgeshwari Seeds and Fertilizers, Parbhani x) Sarojdevi N. Kalantri, Nanded xi) Ahilyadevi K. Maliwal, Nanded xii) Vijaya Toshniwal xiii) Nandkishor Toshniwal xiv) Preeti M. Kalantri Associates

i) Shiva Global Biotech, Nanded

5. Dues to Micro, Small and Medium Enterprises

The classification of the suppliers under micro, small and medium enterprises development act, 2006 is made on the submission of the registration certificate under the said act by the suppliers. The outstanding to the micro, small and medium enterprises for more than 60 days of closing date is nil.

6. Prior period adjustment includes Rs. 286,436/- net effect of interest eceived on refund of income tax and others and excess/short provision made for expenses and tax.

7. Except in cases where balance confirmation are available, the remaining balances under the heads sundry debtors, sundry creditors other liabilities, loans and advances and deposits are as shown by books of account and are subject to reconciliation/adjustment, if any.

8. Impairment of Assets

The Company has carried out comprehensive exercise to assess the impairment loss of assets. Based on such exercise, there is no impairment of asset required to be made in the accounts.

9. Earning Per Share

Basic earning per shares has been calculated by dividing profit for the year attributable to equity shareholders by the weighted average number of equity shares outstanding during the year. The Company has not issued any potential equity shares and accordingly, the basic earning per share and diluted earning per shares are the same.

10) Installment of Term Loan falling due for repayment within one year is Rs. 30.90/- Lacs (P.Y. Rs. 42.50 lacs).

11) The figures of the previous year have been rearranged and regrouped wherever necessary to make them comparable with the figures of the current year.

12) Figures have been rounded off to the nearest Rupees.

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