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Notes to Accounts of Shricon Industries Ltd.

Mar 31, 2014

I. Contingent Liabilities: As per information and explanation available to us: Nil

II. Figures for the previous period have been regrouped / reclassified in line with revised Schedule VI as directed by MCA through Notification No. S.O. 447(E).


Mar 31, 2013

A. Statutory Auditors remuneration is Rs. 18,000/- (including out of pocket expenses} Previous year Rs. 18,000/-

B. Directors Remuneration Rs. Nil

C. Segmental Reporting- Not Applicable

D. Disclosure of related parties/ relaied party transactions:

During the year the company has obtained loan from its director Mf. Om Prakash Maheshwari. Company is paying 9% interest on the said loan obtained from directors. Loan token during the year is Rs. 18,36,088/-. Repaid Rs. T. 10.696/- (including interest of Rs. 5,52,068/-!, maximum outstanding during the year is Rs. 69,21,466/- Closing Balance is Rs. 69,21,466/-. (Previous year. Loan taken is Rs. 7,77,279/-. Repaid '' Nil, Maximum outstanding Rs. 51,96.074/- Closing Balance is Rs. 51,96,074/-).

E. Disclosure under section 22 of the Micro, Small and Medium Enterprises Development Act 2006: Amount due to Micro. Small and Medium Enterprises: Rs Nil

F. The Management of the company has review the existing assets working conditions and utility as at the balance sheet date and are of the opinion that there exists no indication that an asset has been impaired and hence no impairment has been carried out.

G. Deterred Tax is recognized on timing differences between the accounting income and the taxable income for the year and guantified using the tax rates and laws enacted or substantively enacted as on the balance sheet date.

H. Contingent Liabilities: As per information and explanation available to us: Nii

I. Figures for the previous period have been regrouped / reclassified in line with revised Schedule VI as directed by MCA through Notification No, S.O. 447(E).


Mar 31, 2012

1. Statutory Auditors remuneration is Rs 18,000.00 (including out of pocket expenses) Previous vear Rs 18,000

2. Directors Remuneration Rs Nil

3. Segmental Reporting: Not Applicable

4. Disclosure of related parties/ related party transactions:

During the year the company has obtained loan from its director Mr. Om Prakash Maheshwari. Company is paying 9% interest on the said loan obtained from directors. Loan taken during the year is Rs. 7,77,279.00 (including interest of Rs. 416960), maximum outstanding during the year is Rs. 51,96,074.00 Closing Balance is Rs 51,96,074.00, (Previous year, Loan taken 5,84,838.00, Repaid Rs 4,30,000.00, Maximum outstanding Rs. 44,61,432.00 Closing Balance 44,18,795.00)

5. Disclosure under section 22 of the Micro, Small and Medium Enterprises Development Act 2006: Amount due to Micro, Small and Medium Enterprises: Rs Nil

6. The Management of the company has review the existing assets working conditions and utility as at the balance sheet date and are of the opinion that there exists no indication that an asset has been impaired and hence no impairment has been carried out.

7. Contingent Liabilities: As per information and explanation available to us : Nil

8. Figures for the previous year have been regrouped/ reclassified wherever necessary.


Mar 31, 2010

1. Statutory Auditors remuneration is Rs 18,000.00 (including out of pocket expenses) Previous year Rs. 22,472

2. Directors Remuneration Rs Nil

3. Segmental Reporting : Not Applicable

4. Disclosure of related parties/ related party transactions:

During the year the company has obtained loan from its director Mr. Om Prakash Maheshwari. Company is paying 9% interest on the said loan obtained from directors. Loan taken during the year is Rs. 10,46,178.00, maximum outstanding during the year is Rs. 42,63,957.00 Closing Balance is Rs 42,63,957.00

5. Disclosure under section 22 of the Micro, Small and Medium Enterprises Development Act 2006: Amount due to Micro, Small and Medium Enterprises: Rs Nil

6. The Management of the company has review the existing assets working conditions and utility as at the balance sheet date and are of the opinion that there exists no indication that an assets has been impaired and hence no impairment has been carried out.

7. Contingent Liabilities: As per information and explanation available to us : Nil

8. Figures for the previous year have been regrouped/ reclassified wherever necessary.

 
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