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

Notes to Accounts of Shree Pacetronix Ltd.

Mar 31, 2015

(a) Rights, preferences and restrictions attached to shares

The company has one class of equity shares having a par value of Rs.10 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

The cash credit facilities availed from Bank of India are secured by hypothecation of the Company's current assets consisting of stock of Finished Goods, Stock in Process, Raw Materials. and book debts both present and future. Further secured by First Charge over fixed assets of the company and personal guarantee of Managing Director Shri Atul Kumar Sethi and Whole Time Director, Mrs Amita Sethi.

Nature of security:

* It includes Car loan and vehicle loan from ICICI Bank Ltd. and Reliance Capital Ltd to be repayable within a period of year. Disclosures relating to nature of security and terms of repayment are same as provided in long term borrowings.

1.1 Pursuant to the enactment of Companies Act 2013, the company has applied the estimated useful lives as specified in Schedule II, except in respect of certain assets as disclosed in accounting policy on depreciation, amortization and depletion. Accordingly the unamortized carrying value in being depreciated/amortized over the revised, remaining useful lives. The written down value of fixed assets whose lives have expired as at 1st April, 2014 have been adjusted net of tax, in the opening balance of profit and loss account amounting to Rs. 340684/-.

2 Segment reporting

A. Primary segment

As the company's business activity falls within a single primary business segment i.e. "Life Saving Devices' hence there is no primary segments wise information to report as per Accounting Standard -17 " Segment Reporting".


Mar 31, 2014

1 Contingent liabilities

Guarantees given to banks - 3,760,000

The disputed demand of income tax 280.000 2,80,0000

280.000 4,040,000


Mar 31, 2013

1. Previous year figures have been regrouped/rearranged wherever necessary to make them comparable with current year.

2. The figures have been rounded off to the nearest rupee.


Mar 31, 2012

1. In the opinion of the Board, the current assets have a value on realization in the ordinary course of business at least equal to the amount at which these are stated above and the provisions for known liabilities is adequate and not in excess of the amount considered reasonable and necessary.

2. Security of Loans

(i) Term loan from ICICI bank is secured by hypothecation of car.

(ii) Term loans from HDFC bank is secured by hypothecation of car and vehicle.

(iii) Term loan from Bank of India is secured by hypothecation of Plant and Machinery. It is further secured by First Charge over fixed assets of the company and personal guarantee of Managing Director, Shri Atul Kumar Sethi and Whole Time Director, Mrs Amita Sethi.

(iv) Cash Credit.

The cash credit facilities availed from Bank of India are secured by hypothecation of the Company's current assets consisting of stock of Finished Goods, Stock in Process, Raw Materials etc. and book debts both present and future. Further secured by extension of First Charge over fixed assets of the company and personal guarantee of Managing Director Shri Atul Kumar Sethi and Whole Time Director, Mrs Amita Sethi.

3. The information required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company. There are no over dues to parties on account of principal amount and/or interest and accordingly no additional disclosures have been made.

4. Sundry Debtors includes Rs.21.84 lacs (Previous Year Rs.25.62 lacs) due from the subsidiary company Shree Coratomic Limited.

5. Segment Reporting :

A. PRIMARY SEGMENTS

As the company's business activity falls with in a single primary business segment i.e. "Life saving devices' hence there is no primary segments wise information to report as per Accounting Standard -17 "Segment Reporting"

6. Previous year figures have been regrouped/rearranged wherever necessary to make them comparable with current year.

7. The figures have been rounded off to the nearest rupee.

 
Subscribe now to get personal finance updates in your inbox!