Mar 31, 2019
1. Corporate information
Shree Surgovind Tradelink Limited (âthe Companyâ) 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 Companyâs 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 âCommodity Trading and Distributionâ, Therefore the company business does not fall under different segments as defined by AS-17-âSegment Reportingâ 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 Companyâs 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 Promotersâ 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 yearâs figures are regrouped and rearranged to make them comparable with current yearâs 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.