Mar 31, 2015
1. Terms/rights attached to the equity shares
The Company has one class of equity shares having a par value of '
10/- per share. Each holder of equity shares is entitled to one vote.
In the event of liquidation of the Company, the holders of the equity
shares will be entitled to receive remaining assets of the Company,
after distribution of all preferential amounts, in proportion to their
shareholding.
2. Contingent Liabilities :
Claims against the Company not (in Rs.)
acknowledged as debt: 31 .03.2015 31.03.2014
(a) Appeals filed in respect of
disputed demands
i) Central Excise 17,54,45,314 17,54,45,314
ii) Income Tax 1,59,280 1,59,280
(b) Other claims 87,82,210 36,46,561
3. During the year, the Company has disposed off its building and
plant and machinery at Gondia, Maharashtra as the plant was closed for
long and the equipments were of outdated technology and getting rusted
because of not in use for long time. The Company has incurred a net
loss of Rs. 6,70,30,887/- on sale of the said assets and reversed the
provision for impairment loss of Rs. 7,50,42,152/- and disclosed the
same as exceptional items. The Company is dealing in Paper and Paper
products and management is further evaluating viable possibilities of
other diversification in the same line of business and accordingly,
the accounts have been prepared on going concern basis.
4. During the year, the Company has provided depreciation as per the
provision of Schedule II to the Companies Act, 2013 ("the Act")
based on the remaining useful life of the assets and consequently, in
case of the assets which have completed their useful lives as
prescribed under Schedule II to the Act, the carrying value (net of
residual value) as at 01st April, 2014 have been adjusted net of tax,
in the opening balance of Profit and Loss Account amounting to Rs.
6,98,57,391/- and in case of other assets, the carrying value (net of
residual value) is being depreciated over the revised remaining useful
lives. As a result of the above, depreciation for the current year is
higher by Rs. 48,45,016/-.
5. The Company has not received any intimation from "suppliers"
regarding their status under the Micro, Small and Medium Enterprises
Development Act, 2006 and hence disclosures, if any, relating to
amounts unpaid as at the year end together with interest paid/payable
as required under the said Act have not been given.
6. During the year, the Company has trading activity in paper
products i.e. Paper board and Craft paper.
7. The net worth of the Company has been eroded due to continuous
losses.
8. As there are no employees in the Company, the provisions relating
to Accounting Standard (AS-15) (Revised) Employee Benefits, are not
applicable.
9. Earnings per share (EPS) is calculated by dividing the
profit/(loss) attributable to the equity share holders by weighted
average number of equity shares outstanding during the year.
For the purpose of calculating diluted earnings per share, the net
profit or loss for the period attributable to equity shareholders and
the weighted average number of shares outstanding during the period is
adjusted for the effects of all dilutive potential equity shares,
except when the results would be anti-dilutive.
10. The Company's activities are classified as belonging to a single
business segment of trading in paper products. The Company's
operations are largely limited to India.
11. The previous year's figures have been reclassified, wherever
necessary, to conform current year's presentation.
Mar 31, 2014
CORPORATE INFORMATION
Simplex Papers Limited ("the Company") is in trading of different types
of papers i.e. paper board, craft paper, etc. The Company is a Public
Limited Company and is listed on BSE Limited.
1. SHARE CAPITAL
A. Terms/rights attached to the equity shares
The Company has one class of equity shares having a par value of Rs. 10/-
per share. Each holder of equity shares is entitled to one vote. In the
event of liquidation of the Company, the holders of the equity shares
will be entitled to receive remaining assets of the Company, after
distribution of all preferential amounts, in proportion to their
shareholding.
2. Contingent Liabilities :
(in Rs.)
Claims against the Company not acknowledged as debt:
31.03.2014 31.03.2013
(a) Appeals filed in respect of
disputed demand:
i) Central Excise 17,54,45,314 17,55,63,684
ii) Sales Tax - 2,54,78,954
iii) Income Tax 1,59,280 -
(b) Other claims 36,46,561 75,66,830
3. During the year, the Company has trading activity in paper
products i.e. Paper board and Craft paper.
4. The Company has not received any intimation from "suppliers"
regarding their status under the Micro, Small and Medium Enterprises
Development Act, 2006 and hence disclosures, if any, relating to
amounts unpaid as at the year end together with interest paid/payable
as required under the said Act have not been given.
5. The net worth of the Company has been eroded due to continuous
loss and impairment loss of fixed assets.
6. As there are no employees in the company, the provisions relating
to Accounting Standard (AS-15) (Revised) Employee Benefits, are not
applicable.
7. Earnings per share (EPS) is calculated by dividing the
profit/(loss) attributable to the equity share holders by weighted
average number of equity shares outstanding during the year.
For the purpose of calculating diluted earnings per share, the net
profit or loss for the period attributable to equity shareholders and
the weighted average number of shares outstanding during the period is
adjusted for the effects of all dilutive potential equity shares,
except when the results would be anti-dilutive.
8. The Company''s activities are classified as belonging to a single
business segment of trading in paper products. The Company''s
operations are largely limited to India.
9. The previous year''s figures have been reclassified, wherever
necessary to conform current year''s presentation.
Mar 31, 2013
CORPORATE INFORMATION
Simplex Papers Limited (the Company) is in manufacturing and trading of
different types of papers. The Company is a Public Limited Company and
is listed on BSE Limited.
1. Contingent liabilities not provided for : (in Rs.)
Particulars 31.03.2013 31.03.2012
(a) Appeals filed in respect
of disputed demand: s
i) Central Excise 17,55,63,684 17,55,63,684
ii) Sales Tax 2,54,78,954 2,54,78,954
(b) Other claims 75,66,830 1,24,58,953
2. During the year, the Company has trading activity in paper. There
was no production during the year as the production is under suspension
due to non-availability of required raw materials. The management is
evaluating various alternative viz. different raw materials mix to
start the production at the earliest.
3. The Company has not received any intimation from "suppliers"
regarding their status under the Micro, Small and Medium Enterprises
Development Act, 2006 and hence disclosures, if any, relating to
amounts unpaid as at the year end together with interest paid/payable
as required under the said Act have not been given.
4. The Company continues to carry the inventory of Plantations that
have grown up and are in saleable condition (i.e. ready to sale). As on
the balance sheet date, plantations have been recognized as stock in
trade and valued at market price amounting to Rs.3,65,000/- (Previous
year Rs.11,63,500/-).
5. The net worth of the Company has been eroded due to continuous
loss and impairment loss of fixed assets.
6. As there are no employees in the company, the provisions relating
to Accounting Standard (AS-15) (Revised) Employee Benefits, are not
applicable.
7. Earnings per share (EPS) is calculated by dividing the profit /
(loss) attributable to the equity share holders by weighted average
number of equity shares outstanding during the year.
For the purpose of calculating diluted earnings per share, the net
profit or loss for the period attributable to equity shareholders and
the weighted average number of shares outstanding during the period is
adjusted for the effects of all dilutive potential equity shares,
except when the results would be anti-dilutive.
8. The Company''s activities are classified as belonging to a single
business segment of manufacture and trading in Paper products. The
Company''s operations are largely limited to India.
9. Previous Year Figures :
The financial statements for the year ended 31st March, 2013 are
prepared as per Revised Schedule VI. The previous year figures have
been reclassified to conform to this year''s classification, wherever
necessary to conform current year''s presentation.
Mar 31, 2012
CORPORATE INFORMATION
Simplex Papers Limited ("The Company") is in manufacturing and
trading of different types of papers. The Company is a Public Limited
Company and is listed on BSE Limited.
a. Terms/rights attached to the equity shares
The Company has one class of equity shares having a par value of Rs
10/- per share. Each holder of equity shares is entitled to one vote.
In the event of liquidation of the company, the holders of the equity
shares will be entitled to receive remaining assets of the company,
after distribution of all preferential amounts, in proportion to their
shareholding.
1. During the year, the Company has trading activity in paper. There
was no production during the year as the production is under suspension
due to non-availability of required raw materials. The management is
evaluating various alternative viz. different raw materials mix to
start the production at the earliest.
2. The Company has not received any intimation from ÃsuppliersÃ
regarding their status under the Micro, Small and Medium Enterprises
Development Act, 2006 and hence disclosures, if any, relating to
amounts unpaid as at the year end together with interest paid/payable
as required under the said Act have not been given.
3. The Company continues to carry the inventory of Plantations that
have grown up and are in saleable condition (i.e. ready to sale). As on
the balance sheet date, plantations have been recognized as stock in
trade and valued at market price amounting to Rs 11,63,500/- (Previous
year Rs 12,67,500/-).
4. The net worth of the Company has been eroded due to continuous loss
and impairment loss of fixed assets.
5. As there are no employees in the company, the provisions relating
to Accounting Standard (AS-15) (Revised) Employee Benefits, are not
applicable.
6. Earnings per share (EPS) is calculated by dividing the profit
attributable to the equity share holders by weighted average number of
equity shares outstanding during the year.
For the purpose of calculating diluted earnings per share, the net
profit or loss for the period attributable to equity shareholders and
the weighted average number of shares outstanding during the period is
adjusted for the effects of all dilutive potential equity shares,
except when the results would be anti-dilutive.
7. The Company's activities are classified as belonging to a single
business segment of manufacture and trading in Paper products. The
Company's operations are largely limited to India.
8. Previous Year Figures
The financial statements for the year ended 31st March, 2011 had been
prepared as per the then applicable, pre- revised Schedule VI to the
Companies Act, 1956. Consequent to the notification of Revised Schedule
VI under the Companies Act, 1956, the financial statements for the year
ended 31st March, 2012 are prepared as per Revised Schedule VI.
Accordingly, the previous year figures have also been reclassified to
conform to this year's classification. The adoption of Revised Schedule
VI for previous year figures does not impact recognition and
measurement principles followed for preparation of financial
statements.
Mar 31, 2011
1. Contingent liabilities not provided for:
Claims against the Company not acknowledged as debts Rs. 1,886.86 lacs
(including Excise Rs. 1,754.45 lacs). (Previous year Rs. 1,873.62 lacs-
including Excise Rs. 1,754.45 lacs).
2. The Company has not received any intimation from "suppliers"
regarding their status under the Micro, Small and Medium Enterprises
Development Act, 2006 and hence disclosures, if any, relating to
amounts unpaid as at the year end together with interest paid/payable
as required under the said Act have not been given.
3. During the year the Company has started trading activity in paper.
There was no production during the year as the production is under
suspension due to non availability of required raw materials. The
management is evaluating various alternative viz. different raw
materials mix to start the production at the earliest.
4. Company continues to carry the inventory of Plantations that have
grown up and are in saleable condition (i.e. ready to sale) as on the
balance sheet date have been recognized as stock in trade and valued at
market price amounting to Rs. 12.68 lacs (Previous year Rs. 22.00
lacs).
5. The net worth of the Company has been eroded due to continuous loss
and Impairment Loss of Fixed Assets.
6. As there are no employees in the company, the provisions relating
to Accounting Standard (AS 15) (Revised) Employee Benefits are not
applicable.
7. The Lease in respect of Leasehold Land at Gondia has expired. As
per the terms of the agreement the lease is renewable and the company
has made necessary application for renewal of lease with Government of
Maharashtra.
8. The Company's activities are classified as belonging to a single
business segment of manufacture and trading in Paper products. The
Company's operations are largely limited to India.
9. Information required pursuant to Part - IV of Schedule VI to the
Companies Act, 1956 is annexed hereto.
10. Previous Year's figures have been regrouped wherever necessary to
conform to this year's presentation.
Mar 31, 2010
1. Contingent liabilities not provided for:
2. The Company has not received any intimation from
"suppliersthregarding their status under the Micro, Small and Medium
Enterprises Development Act, 2006 and hence disclosures, if any,
relating to amounts unpaid as at the year end together with interest
paid / payable as required under the said Act have not been given.
3. Retrenchment Compensation paid to workers hitherto was treated as
deferred revenue expenditure and one fifth of the amount was amortised
over a period of 5 years. Unamortised balance at the end of the current
year of Rs.26.09 Lacs has been amortised in compliance with the
Accounting Standard-15 "Employee Benefits (Revised)thand same has been
shown under extraordinary items in the Profit and Loss Account.
4. There was no production during the year as the production is under
suspension since September 2006 due to non availability of required raw
materials. The management is evaluating various alternative (viz.
different raw materials mix) to re-start the production at the
earliest.
5. The Company continues to carry the inventory of Plantations that
have grown up and are in saleable condition (i.e. ready to sale) as on
the balance sheet date have been recognized as stock in trade and
valued at market price amounting to Rs.22.00 lacs (Previous year
Rs.66.70 lacs).
6. As required under Accounting Standard on Impairment of Assets
(AS-28) issued by the Institute of Chartered Accountants of India, the
Company has made Provision for Impairment of Fixed Assets amounting to
Rs. 779.38 lacs during the year, as the recoverable amount of the fixed
assets is less than carrying amount as stated in the books.
7. During the current financial year the net worth of the Company has
been fully eroded due to continuous loss and Provision for Impairment
Loss of Fixed Assets.
8. In accordance with the Accounting Standard (AS-15) (Revised)
Employee Benefits, actuarial valuation was done in respect of the
defined benefit plan of gratuity based on the following assumptions:
No acturial valuation was required for the year as there was no
employee as on 31 st March, 2010.
Deferred tax asset for the year ended 31st March, 2010 has not been
recognised in accordance with the
9. The Companys activities are classified as belonging to a single
business segment of manufacture and trading in Paper products. The
Companys operations are largely limited to India.
10. Related Party Disclosure (As identified by the management):
(a) Related Party Relationship during the year
Controlling Company Simplex Realty Limited
(b) Transaction with Related Party
11. Additional information pursuant to the provisions of paragraph 3 &
4 of partII of Schedule VI to the Companies Act, 1956 as certified by
the Management.
(e) Licensed and Installed capacity and Production (as certified by the
management and accepted by auditors, it being a technical matter).
(ii) There was no Production during the year.
12. Information required pursuant to Part- IV of Schedule VI to the
Companies Act, 1956 is annexed hereto.
13. Previous Years figures have been regrouped wherever necessary to
conform to this years presentation.