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Notes to Accounts of Shri Bholanath Carpets Ltd.

Mar 31, 2015

1 Equity Shares held by the Holding Company

NIL Equity Shares (NIL) are held by , the holding company.

Mar 31, 2012

1 Sundry Debtors, Loans and Advances :

i) Balances from Debtors, Creditors and for Deposits are as per management''s certification and not confirmed by the auditors

2 Previous year figures have been regrouped and reclassified wherever necessary to confirm with current years classification.

Mar 31, 2010

1. PARTICULARS AS ON AS ON 31.03.10 31.03.09

1(1) Contingent Liabilities for disputed demand of:

a) Custom duty-Pending Appeal. NIL NIL

b) Annual Supervision charges of Inspector from Excise NIL NIL authorities.

c) Trade tax liability NIL NIL

(II) a) Guarantee Bond for duty free import against Export NIL NIL obligation.

b) Counter guarantee of guarantee and surety bond issued NIL NIL by an associate corporate body :

i) for term loan/WC finance etc. NIL NIL

(* company has complied its export obligation)

* Surety Bond/LUT executed in favour of Custom Authorities which is equal to 100% of the duty livable on the sanctioned requirement of imported capital goods; raw material; HSD and other consumables for 100% EOU. The company has complied its export obligation and applied for reduction of the bond amount to the extent of Rs. 190.00 under prevailing norms.

2. The company was engaged in the production of woolen yarn, as a 100% EOU approved by Central Government and commenced commercial production of woolen yarn w.e.f. 01.12.1999. There is no other activity undertaken by the company during the year.

3. The machinery and other assets being installed during phase -II has been capitalized.

4. The company has in process of creating database/identifying the parties who are covered under SSI by seeking for information/documents from its suppliers. Based on information/data base so far available, the small scale undertakings to whom amounts outstanding Rs.l lac or more is outstanding for more than 30 days, other than small scale undertakings whose terms of payment requires the Company to pay them after a period of 30 days, are as under :

Names of the Small Scale Industrial undertakings :

a) Kumar Engg. Works b) Vinayak Wool (India) Pvt. Ltd.

5 a) In the opinion of the Board of Directors and to the best of their knowledge, adequate provision have been made in the account for all known liabilities; and current Assets, Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet. Accounts with foreign collaborators are subject to their confirmation.

b) Balance shown under debtors, advances, other current assets and creditors so far as these have not been realized/discharged settled or adjusted are subject to confirmation reconciliation and consequential adjustments if any.

6. Additional Information pursuant to paras 3, 4C and 4D of Part II Schedule VI to the Companies Act, 1956 annexed to the account for the year ended March 31, 2010

G) No employee of the company was in receipt of remuneration in excess of the amount specified u/s. 217 (2A) of the Companies Act, 1956.

H) The company has been advised that the computation of net profit for the purpose of calculation of managerial remuneration under section 349 of the Companies Act, 1956 need not be enumerated since no commission has been paid to the directors and that the remuneration is paid within the limits of Schedule XIII to the Companies Act, 1956.

Schedule 1 to 22 referred to above form an integral part of the Balance Sheet and Profit and Loss Account and have been duly authenticated.

Oct 21, 12:00 am
Oct 21, 4:14 pm
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