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Notes to Accounts of RR Metalmakers India Ltd.

Mar 31, 2019

1. Corporate information

Shree Surgovind Tradelink Limited (“the Company”) was incorporated in India on 26th of October, 1995 and is in business of traders, exporters, importers, cold storage lessors and refrigerating engineers, operators. Company has its registered office at Ahmedabad and the branch at Mumbai.

The name of the Company was changed to RR METALMAKERS INDIA LIMITED w e f April 10, 2019, changes duly incorporated by Ministry of Corporate Affairs.

The financial statements are approved for issue by the Company’s Board of Directors on 08/05/2019.

a. Terms/rights attached to equity shares

The Company has only 1 class of equity shares having a par value of Rs 10 per share. Each holder of equity shares is entitled to 1 vote per share. The company declares and pays dividends if any in Indian rupees. The dividend proposed if any, by the Board of Directors is subject to the approval of the shareholders in the ensuing AGM.

2. The Company has a single segment namely “Commodity Trading and Distribution”, Therefore the company business does not fall under different segments as defined by AS-17-”Segment Reporting” issued by ICAI.

3. Some of the Debit or Credit balances on whatever account are subject to parties/authorties concerned.

However in the opinion of the Management, these amounts are realisable and payable at the amount stated in the Company’s accounts.

4. Case againts The Company/Directors by ROC u/s. 63, 68 and 628 of the Companies Act, 1956 against the old erstwhile directors

Previous Promoters’ pending cases is completed as per the court order and no legal cases are pending against the company in this matter as on date.

5. Previous year’s figures are regrouped and rearranged to make them comparable with current year’s figures.


Mar 31, 2015

1. CORPORATE INFORMATION

Shree Surgovind Tradelink Limited ("the Company") was incorporated in India on 26th of October, 1995 and is business of traders, exporters, importers, cold storage lessors and refrigerating engineers, operators. Company has its registered office at Ahmedabad and the branch at Mumbai

2. Terms/rights attached to equity shares

The company has only one class of equity shares having a par value of ' 10 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends if any in Indian rupees. The dividend proposed if any, by the Board of Directors is subject to the approval of the shareholders in the ensuing AGM.

3. Additional Information to Secured/Unsecured Long term borrowings

The long term portion of term loans are shown under long term borrowings and the current maturities of the long term borrowing, if any are shown under the current liabilities as per the disclosure requirements of the Schedule III.

4. Particulars of Sale of Products

The company is engaged in import exports business as well as in local trading for which they trade goods both in indigenous and imported goods, and consequent export of the same.

5. Contingent liabilities 31 March 2015 31 March 2014

a Bank Guarantee issued 579,600.00 7,651,030.00

b Claims against the company not acknowledged as debts 596,720.00 1,979,882.00

6. The Company has a single segment namely "trading in spice & related other products", Therefore the company business does not fall under different segments as defined by AS-17-"Segment Reporting" issued by ICAI.

7. Disclosure in accordance with Accounting Standard-18 Related Party Transaction

A Names of Related Parties & Nature of Relationship

I Names of Related Parties Nature of Relationship

Rkb Global Pvt ltd Private Limited in which Shareholders' are the directors

Khushbu Impex Proprietorship of Relative of one of the directors

ii Key Management personnel

Navin Madhavji Mehta Director

Kalpana Kulkarni Director

Shruti Sawant Director

8. Debit or credit balances on whatever account are subject to confirmation from parties / authorities concerned. However in the opinion of the Management, this amounts are realisable and payable at the amount stated in the Company's accounts.

9. a) Case against the Company / Directors by Registrar of Companies (ROC)

The case filed by the Registrar of Companies - U/s. 63-Criminal Liability for misstatement in Prospectus;

U/s. 68-Penalty for fraudulently inducing persons to invest money ; U/s. 628-Penalty for false statements.

The Company is of the Opinion that the cases are initiated against the erstwhile directors of the Company in the Year 2002.The penalty amount are not quantifiable as the matters are sub-judice. Subsequent to year end, the said former directors have filed application for compounding of offence with Company Law Board, Western Region, Mumbai/ Regional Director, North western Region, Ahmedabad.

b) Case against the Company / Directors by SEBI

During the year under review, SAT(SEBI Appellate Tribunal) passed an order upholding Adjudication order passed by SEBI imposing a penalty of Rs 6 lakhs for certain violations of SEBI & SAST Regulations. The company has paid the said penalty incorporating under other expenses in the Statement of Profit and loss for year ended 31/03/2015


Mar 31, 2014

1.CORPORATE INFORMATION

Shree Surgovind Tradelink Limited ("the Company") was incorporated in India on 26th October, 1995 and is business of traders, exporters, importers, cold storage lessors and refrigerating engineers, operators. Company has its registered office at Ahmedabad and the branch at Mumbai

2. Terms/rights attached to equity shares

The company has only one class of equity shares having a par value of 10 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends if any in Indian rupees. The dividend proposed if any, by the Board of Directors is subject to the approval of the shareholders in the ensuing AGM.

In the event of liquidation of the company, the holders of equity shares will be entitled to receive 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. Additional Information to Secured/Unsecured Lond term borrowings

The tong term portion of term loans are shown under long term borrowings and the current maturities of the long term borrowing, if any are shown under the current liabilities as per the disclosure requirements of the Revised Schedule VI

4. Detail of Securities

The facility from Union Bank of India is secured by hypothecation of assets and personal guarantee of directors and relative of directors.

5. As per Note 5(i)(d) regarding general instructions for preparation of Statement of profit and loss, in respect of Interest Income, the same are reported above. Interest Incomes consists of interest accrued on time deposit made with banking companies in normal course of business

6. As per Note 5(i)(d) regarding general instructions for preparation of Statement of profit and toss, in respect of Employee benefits expenses , the details are classified as above. ESOP are not applicable to the company

7. As per Note 5(i)(c) regarding general instructions for preparation of Statement of profit and loss, in respect of Separate disclosures of Items which is in Excess of 156 of the revenue from operations or Rs. 1 lacs whichever is higher, the details are classified as above.

8. As per Note 5(i)(j) regarding general instructions for preparation of Statement of profit and loss, in respect of Separate disclosures of Items under broad heads, the details are classified as above.

9. As per Note 5(vi) regarding general instructions for preparation of Statement of profit and loss, in respect of Expenditures incurred on Payments made to the Auditors, the details are classified as above.

10. In accordance with Accounting Standard 11 (Revised) the net exchange toss debited to Profit a toss account is Rs. 11.04 lakhs (previous year gains Rs.73.41 lakhs)

11. As per Note 5(i)(e) regarding general instructions for preparation of Statement of profit and loss, in respect of Separate disclosures of Interest Expenses, the details are classified as above.

12. Contingent liabilities

31 March 2014 31 March 2013

a Bank Guarantee issued in favour of V M Oils (P) Ltd 76,51,030 170,000.00

b Letters of Credit outstanding - 29,971,458.00

c Claims against the company not acknowledged as debts 19,79,882

d Sub-Judices Matters with ROC, etc., (Refer Note 29 below)

13. The Income-tax assessments of the Company have been completed upto the accounting year ended 31.3.2011

14. The Company has a single segment namely "trading in spice & related other products", Therefore the company business does not fall under different segments as defined by AS-17-'Segment Reporting" issued by ICA1.

15. a)Case against the Former Directors of the company in 2002 by Registrar of Companies (ROC)

The case filed by the Registrar of Companies:

1 U7s. 63-Criminal Liability for misstatement in Prospectus;

2 U/s. 68-Penalty for fraudulently inducing persons to invest money

3 U/s. 628-Penalty for false statements.

The Company is of the Opinion that the cases are initiated against the former directors of the Company in the Year 2002 and not against the company.The penalty amount are not quantifiable as the matters are sub-judice.

b) Case against the Company / Directors by SEBI

Subsequent to the end of the year under review, SAT(SEBI Appellate Tribunal) passed an order upholding Adjudication order passed by SEBI imposing a penalty of Rs. 6,00,000/(Rupees Six Lacs Only) for certain violations of the SEBI & SAST Regulations. The company ha since paid the said penalty and the accounting effect of this Penalty payment will be given in the financial statements for the year ending 31st March, 2015.


Mar 31, 2012

1.1 Additional information to Secured/Unsecured Long term borrowings

The long term portion of term loans are shown under long term borrowings and the current maturities of the long term borrowing, if any are shown under the current liabilities as per the disclosure requirements of the Revised Schedule VI

1.2 Detail of Securities

The facility from Union Bank of India is secured by hypothecation of assets and personal guarantee of directors

Notes Defered Tax liabilities (Net)

Defered Tax Liability for the period ended March 31,2012 has been provided on the estimated tax compute-

In accordance with Accounting Standard 11 (Revised) the net exchange loss debited to Profit & loss account is Rs. 18.82 lakhs (previous year gains Rs 41.87 lakhs)

2 Disclosure in accordance with Accounting Standard-18 Related Party Transaction

A Names of Related Parties & Nature of Relationship

i Names of Related Parties Nature of Relationship

V.S . Healthcare Proprietorship of Relative of one of the directors

Khushbu Impex Proprietorship of Relative of one of the directors

Rajankumar & Bros (Impex) Partnership of relative of one of the directors

ii Key Management personnel

Navin Madhavji Mehta Director

Upendra J. Sheth Director

Suresh Patel Director


Mar 31, 2010

1) Estimated amount of contracts remaining to be executed on capital account and not provided for Rs. Nil.

2) CONTINGENT LIABILITY

There is no contingent liability against the company as on 31.03.2010.

3) FOREIGN CURRENCY TRANSACTIONS

Transactions in foreign exchange, if any, are accounted at the exchange rates prevailing on the date of transaction. Gains and losses arising out of subsequent fluctuations are accountec for on actual payments / realization. Current assets and Liabilities if any at the end of the year are restated at the rate prevailing on the date of Balance Sheet. The difference between the rate on the Balance Sheet Date and the exchange rate at the date of transaction while accounting is recognized as income or expenses in the profit and loss account.

Reporting currency of the company is Indian Rupees.

4) INVESTMENT

Investments at the year-end have been physically verified, valued and certified by the Directors and the same have accordingly been included in the Balance Sheet.

5) Balance with Sundry Debtors, Advance to Suppliers, Creditors & Loans and advances are subject to confirmation and reconciliation. No provision for amounts not realizable has been made in the books of accounts.

6) In the opinion of the Directors and to the best of their knowledge and belief, the value on realisation of loans and advances and current assets, in the ordinary course of business, will not be less than the amount at which they are stated in the Balance sheet.

7) There are no directors or employees who are drawing Rs. 24,00,000 or more p.a. or Rs. 2,00,000 per month if employed for a part of-the year as per section 217 (1-A) of the Companies Act, 1956.

8) Major Component of accumulated Deferred Tax Liabilities is given below: -

9) To the extent of information available to the Company, it does not owe any sum to micro, small and medium enterprise.

10) Disclosures as per Accounting Standard - 18 "Related Party Transactions" are as follows:-

a) Related Party Disclosure:

i) Subsidiaries of the Company Nil

ii) Other Relate parties Nil

iii) Key Management Personnel Mr.Sureshbhai K Patel

Mr. Navin M Mehta

Total outstanding as on 31st March 2010 Receivable from a firm in which director is interested:

Rajankumar & Bros. (Impex) -Rs 94,964.00

Total outstanding payable as on 31st March 2010 to a firm in which director is interested:

11) Disclosure of Segment Reporting as per Accounting standard - 17 issued by the Institute of Chartered Accountants of India.

The Company operates in one business segment only i.e. trading in spices & other products, there are no other identified reportable segment as per AS - 17 "Segment Reporting".

12) Disclosure of Impairment of Assets as per Accounting standard - 28 issued by the Institute of Chartered Accountants of India.

As required by the Accounting Standard (AS 28) "Impairment of Assets" issued by the ICAI, as informed to us, the company has not carried out the of impairment of assets. There has been no impairment loss during the year.

13) Figures are rounded off to the nearest rupees.

14) Previous years figures are regrouped and rearranged wherever necessary to conform to the current year presentation.

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