Mar 31, 2018
Notes -
1. Property, Plant & Equipment given on lease - Nil
2. Assets retired from active use & held for disposal - Nil
3. Assets acquired through business combinations - Nil
4. Increases or decreases resulting from revaluations and from impairment losses recognized or reversed directly in revaluation surplus - Nil
5. Impairment loss recognized in the statement of Profit & Loss - Nil 6.Impairment loss reversed in the statement of Profit & Loss - Nil
7. Net exchange differences arising on the translation of the financial statements of a non-integral foreign operation in accordance with Ind AS 21 - Nil
8. The Term Loan from ICICI Bank Limited (Car Loan A/c No. 20956) has been obtained against Hypothecation of 1 Vehicle. The amount outstanding is Rs. 1,96,204/- as on 31/03/2018 ; Rs. 5,24,884/- as on 31/03/2017 and Rs. 8,35,227/- as on 01/04/2016.
9. The Term Loan form ICICI Bank Limited (Car Loan A/c No. 22954) has been obtained against Hypothecation of 1 vehicle. The amount outstanding is Rs. 11,52,054/- as on 31/03/2018; Rs. 18,70,530/- as on 31/03/2017 and Rs. 25,19,240/- as on 01/04/2016 .
10. The Term Loan from HDFC Bank Limited has been obtained against Hypothecation of 1 Vehicle. The amount outstanding is Rs. 9,77,520/- as on 31/03/2018; R s 14,09,540.58/- as on 31/03/2017; Rs. 18,32,797/- as on 01/04/2016.
11 .The amount of expenditure recognized in the carrying amount of an item of Property, Plant & Equipment in the course of its construction during the current financial year - Nil
12.The amount of contractual commitments for the acquisition of Property, Plant & Equipment - Nil
13. The amount of compensation from third parties for items of Property, Plant & Equipment that were impaired, lost or given up that is included in the statement of profit and loss - Nil
14. Spare Parts capitalized from Inventory of the company - Nil
Notes -
1. Impairment losses recognized in the statement of Profit & Loss during the period - Nil
2. Impairment losses reversed in the statement of Profit & Loss during the period - Nil
3. There are no significant restrictions on the right of ownership of any intangible assets.
4. Amount of commitment for acquiring intangible assets - Nil
5. Aggregate amount of R&D expenditure recognized as expenditure during the period - Nil
6. Life of asset -10 years
Guarantees
Contingent liabilities related to Guarantees amounting to Rs. 15,20,556/- are outstanding bank guarantees as on 31st March 2018. Bank Gurantees are given as per the tender terms to Karnataka Renewable Energy Development Limited(KREDL), National Aluminum Co. Ltd. (NALCO)and Ashoka Buildcon.
There is uncertainly of outflow because the Company has filed appeals with Sales Tax Tribunal against these orders and the said appeals are pending as on 31st March 2018.
Possibility of reimbursement - Nil Interest on Sales Tax payable
Contingent liabilities related to income tax demand amounting to Rs. 64,44,154/-as on 31st March 2018 is outstanding for AY 2004-05 against order of income Tax Department.
There is uncertainly of outflow because the Company has filed appeal with Mumbai High Court against this order and the said appeal is pending as on 31st March 2018.
Possibility of reimbursement - Nil
Income Tax Demand Payable
Contingent liabilities related to income tax demand amounting to Rs. 64,44,154/-as on 31st March 2018 is outstanding for AY 2004-05 against order of income Tax Department.
There is uncertainly of outflow because the Company has filed appeal with Mumbai High Court against this order and the said appeal is pending as on 31st March 2018.
Possibility of reimbursement - Nil
Non Receipt ofC-Form Liability
Contingent liabilities related to C forms amounting to Rs.31,84,835 is due to non-receipt of C forms from customers. This amount is the basic amount and is at the balance sheet date.
The above liability is uncertain relating to its outflow as it depends on receipt of C forms from customers till the date of assessment.
Also there is possibility of interest liability on non-receipt of C form which needs to be paid at the time of assessment.
Note 49: Dividends
No Dividend has been declared / proposed by the Board of Directors.
Mar 31, 2016
Nature of security & Terms of Repayment
(Disclosure pursuant to Note no. 6(C) (ii) & (vi) of Part I of Schedule III to the Companies Act, 2013)
1 The Company has shown amount due by it to M/s. Solarcopyer Limited under Secured Loans. The amount was paid by the said Solarcopyer Limited to Axis Bank Limited (formerly known as UTI Bank) as a proposed Strategic Investor. The Axis Bank subsequently assigned its charge over the assets of the Company in favour of M/s Solarcopyer Limited vide Deed of Assignment dt. 09/02/2012. The amount paid by M/s. Solarcopyer Limited carry interest @ 15% p.a. for secured portion.
2 Term Loan from ICICI Bank Limited has been obtained against Hypothecation of 3 Vehicles. It carries an Interest rate of 11.25% p.a..
3 Term Loan from HDFC Bank Limited has been obtained against Hypothecation of 1 Vehicle. It carries an Interest rate of 14.00% p.a..
Period & amount of continuing Default in repayment of loan & interest
(Disclosure pursuant to Note no. 6(C) (vii) of Part I of Schedule III to the Companies Act, 2013)
There is no default in respect of repayment of loan for the current financial year.
â Deferred Tax Liabilities (net)
Since there is a Deferred Tax Asset, disclosure under this note is not required to be given.
4 Short term borrowings
(Disclosure pursuant to Note no. 6(F) of Part I of Schedule III to the Companies Act, 2013)
There are no short-term borrowings availed by the company. Therefore, disclosure under this note is not required to be given.
5 Trade payables
(Disclosure pursuant to point no. b of Current Liabilities of the Balance Sheet)
6 Amount remitted in foreign currencies for dividend - NIL
(As per Point No. 5 (viii) (d) of General Instructions for Preparation of Statement of Profit and Loss)
7 Earnings in foreign exchange - NIL
(As per Point No. 5 (viii) (e) of General Instructions for Preparation of Statement of Profit and Loss)
8 Related Party Disclosure
(As per Accounting Standard - 18)
1 Relationships:
a) Associate:
N.A.
b) Key Management Personnel:
Mr. Arvind Bharati
Smt. Rochana Bharati Mrs. Smita Patodkar Mr. Deepak Joshi
c) Enterprises and relatives of key management where transactions have taken place:
M/s. Solarcopyer Limited
Mrs. Ashu Bharati Ravindra Bharati M/s. Chetana Enterprises Starlite Lighting Ltd.
M/s. Reprolite Papers (I) Private Limited
Note -
9 The company does not have any dilutive potential equity shares outstanding as on the last day of the year which can be converted into equity shares and hence basic & diluted earnings per share is same.
Note -
Note: Since majority of the assets are located at single place and are of common nature, Management has decided not to bifurcate the same into segment wise assets and liabilities
Secondary Segment - Geographic Segment
The Geographic Segments identified, as Secondary Segments are âDomestic Marketâ and âExport Marketâ. Since the Export Market Revenue is less than 10 % of the total, the same has not been disclosed. The entire capital employed is within India.
Mar 31, 2015
1. Corporate Information: -
M/s. Starlite Components Limited is a public limited company domiciled
in India and incorporated under the provisions of Companies Act, 1956.
The company is in the manufacturing and selling of Electronic Ballast
and LED Products with factory situated at Satpur as well as Vilholi ,
Dist- Nashik and office at Satpur, Dist - Nashik. The shares of the
company are listed on the Bombay Stock Exchange (Scrip Code - 517548).
2. Basis of Preparation : -
The financial statements of the company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The company has prepared these financial statements to
comply in all material respects with the Accounting Standards specified
under Section 133 of the Act, read with Rule 7 of the Companies
(Accounts) Rules, 2014.
The company has reclassified previous year figures wherever necessary.
3 Other non-current assets
There are no other non-current assets. Therefore, Disclosure under this
note is not required to be given.
4 Current Investments
(Disclosure pursuant to Note no. 6(N)of Part I of Schedule III to the
Companies Act, 2013)
There are no current investments. Therefore, Disclosure under this note
is not required to be given.
5 Inventories
(Disclosure pursuant to Note no. 6(O) of Part I of Schedule III to the
Companies Act, 2013)
6 Contingent liabilities and commitments
(Disclosure pursuant to Note no. 6(T) of Part I of Schedule III to the
Companies Act, 2013)
There are no Contingent Liabilities. Therefore, Disclosure under this
note is not required to be given.
7 Dividends
(Disclosure pursuant to Note no. 6(U) of Part I of Schedule III to the
Companies Act, 2013) No Dividend has been declared / proposed by the
Board of Directors.
8 Value on realization
(Disclosure pursuant to Note no. 6(W) of Part I of Schedule III to the
Companies Act, 2013)
9 Amount remitted in foreign currencies for dividend - NIL
(As per Point No. 5 (viii) (d) of General Instructions for Preparation
of Statement of Profit and Loss)
10 Earnings in foreign exchange - NIL
(As per Point No. 5 (viii) (e) of General Instructions for Preparation
of Statement of Profit and Loss)
11 Related Party Disclosure
(As per Accounting Standard - 18)
1 Relationships:
a) Associate:
N.A.
b) Key Management Personnel:
Mr. Arvind Bharati
Smt Rochana Bharati
Mrs. Smita Patodkar
Mr. Deepak Joshi
c) Enterprises and relatives of key management where transactions have
taken place:
M/s. Solarcopyer Limited
Mrs. Ashu Bharati
Ravindra Bharati
Starlite Lighting Ltd.
M/s. Reprolite Papers (I) Private Limited
Note -
Note: Since majority of the assets are located at single place and are
of common nature, Management has decided not to bifurcate the same into
segment wise assets and liabilities
Secondary Segment - Geographic Segment
The Geographic Segments identified, as Secondary Segments are "Domestic
Market" and "Export Market". Since the Export Market Revenue is less
than 10 % of the total, the same has not been disclosed. The entire
capital employed is within India.
Mar 31, 2014
1 According to the order of Hon''ble BIFR, the Company will allot
65,28,000 number of equity shares of Rs 10/- each fully paid up
aggregating to Rs 652.80 lakhs to promoters/associates in lieu oft he
funds already infused/ proposed to be infused. These shares will be
allotted in two stages for Rs 163.20 lakhs during the year 2013-2014
and Rs 489.60 lakhs during the year 2014-2015 respectively. During the
year, Company has alloted shares of Rs. 163.20 lakh consisting of
163,20,000 shares of Rs. 10/- each fully paid up.
b) Rights attached to Equity shares
(Disclosure pursuant to Note no. 6(A)(e) of Part I of Schedule VI to
the Companies Act, 1956)
The company has only one class of equity shares having a par value of
Rs.10/- per share. Each Holder of equity shares is entitled to one vote
per share. The dividend proposed by the board of directors is subject
to the approval of the shareholders in the ensuing Annual General
Meeting.
c) Shares held by Holding / ultimate Holding company and / or their
subsidiaries / associates
(Disclosure pursuant to Note no. 6(A)(f) of Part I of Schedule VI to
the Companies Act, 1956)
Equity Shares issued by the company and held by Holding company,
ultimate Holding company and their Subsidiaries / associates are NIL
d) Details of shareholders holding more than 5% shares in the company
(Disclosure pursuant to Note no. 6(A)(g) of Part I of Schedule VI to
the Companies Act, 1956)
e) Shares reserved for issue under options - NIL
(Disclosure pursuant to Note no. 6(A)(h) of Part I of Schedule VI to
the Companies Act, 1956)
f) Aggregate number oft onus shares issued, shares issued for
consideration other than cash and shares bought back during the period
of 5 years immediately preceding the reporting date
(Disclosure pursuant to Note no. 6(A)(i) of Part I of Schedule VI to
the Companies Act, 1956)
g) Securities convertible into equity/preference shares issued - NIL
(Disclosure pursuant to Note no. 6(A)(j) of Part I of Schedule VI to
the Companies Act, 1956)
h) Calls unpaid - NIL
(Disclosure pursuant to Note no. 6(A)(k) of Part I of Schedule VI to
the Companies Act, 1956)
i) Forfeited shares - NIL
(Disclosure pursuant to Note no. 6(A)(l) of Part I of Schedule VI to
the Companies Act, 1956) 5 Reserves & Surplus
(Disclosure pursuant to Note no. 6(B) of Part I of Schedule VI to the
Companies Act, 1956)
6 Long Term Borrowings
(Disclosure pursuant to Note no. 6(C) of Part I of Schedule VI to the
Companies Act, 1956)
Nature of security & Terms of Repayment
(Disclosure pursuant to Note no. 6(C) (ii) & (vi) of Part I of Schedule
VI to the Companies Act, 1956)
1 The company has shown amount due by itt o M/s. Solarcopyer Limited
under Secured Loans. The amount was paid by the said Solarcopyer
Limited to Axis Bank Limited (formerly known as UTI Bank) as a proposed
Strategic Investor. The Axis Bank subsequently assigned its charge over
the assets oft he company in favour of M/s Solarcopyer Limited vide
Deed of Assignment dt. 09/02/2012. The amount paid by M/s. Solarcopyer
Limite d carry interest @ 15% p.a. for both Secured as well as
unsecured portion.
2 Term Loan from ICICI Bank Limited has been obtained against
Hypothecation of 2 Vehicles. It carries an Interest rate of 11.25%
p.a.. EMI payable is Rs. 22050/- commencing from 15/04/2014 & ending on
15/03/2017 respectively.
Period & amount of continuing Default in repayment of loan & interest
(Disclosure pursuant to Note no. 6(C) (vii) of Part I of Schedule VI to
the Companies Act, 1956)
Company has not defaulted on repayment of loan or interest.
7 Deferred Tax Liabilities (net)
Since there is a Deferred Tax Asset, disclosure under this note is not
required to be given.
10 Short term borrowings
(Disclosure pursuant to Note no. 6(F) of Part I of Schedule VI to the
Companies Act, 1956)
There are no short-term borrowings availed by the company. Therefore,
disclosure under this note is not required to be given.
Dues to Micro, Small and Medium Enterprises as defined under the MSMED
Act, 2006 including bifurcation of Principle & Interest cannot be
provided since the information about the same is not available with the
company.
21 Other non-current assets
(Disclosure pursuant to Note no. 6(M) of Part I of Schedule VI to the
Companies Act, 1956)
There are no other non-current assets. Therefore, disclosure under this
note is not required to be given.
22 Current Investments
(Disclosure pursuant to Note no. 6(N)of Part I of Schedule VI to the
Companies Act, 1956)
There are no current investments. Therefore, Disclosure under this note
is not required to be given.
23 Inventories
(Disclosure pursuant to Note no. 6(O) of Part I of Schedule VI to the
Companies Act, 1956)
Note -
1 Valuation of inventory is done as disclosed in note no. 3-K
2 There are no goods in transit during the year
28 Contingent liabilities and commitments
(Disclosure pursuant to Note no. 6(T) of Part I of Schedule VI to the
Companies Act, 1956)
There are no Contingent Liabilities. Therefore, Disclosure under this
note is not required to be given.
29 Dividends
(Disclosure pursuant to Note no. 6(U) of Part I of Schedule VI to the
Companies Act, 1956)
No Dividend has been declared / proposed by the Board of Directors.
30 Value on realization
(Disclosure pursuant to Note no. 6(W) of Part I of Schedule VI to the
Companies Act, 1956)
44 Amount remitted in foreign currencies for dividend - NIL
(As per Point No. 5 (viii) (d) of General Instructions for Preparation
of Statement of Profit and Loss)
45 Earnings in foreign exchange
(As per Point No. 5 (viii) (e) of General Instructions for Preparation
of Statement of Profit and Loss)
1 Relationships:
a) Associate:
N.A.
b) Key Management Personnel:
Mr. Arvind Bharati
Smt. Rochana Bharati
c) Enterprises and relatives of key management where transactions have
taken place: M/s. Solarcopyer Limited
Mrs. Ashu Bharati Ravindra Bharati M/s. Universal Traders M/s. Chetana
Enterprises Starlite Lighting Ltd.
M/s. Filaments & Filaments
M/s. Reprolite Papers (I) Private Limited
1 The company does not have any dilutive potential equity shares
outstanding as on the last day of the previous year which can be
converted into equity shares and hence basic & diluted earnings per
share is same.
Note: Since majority of the assets are located at single place and are
of common nature, Management has decided not to bifurcate the same into
segment wise assets and liabilities
Secondary Segment - Geographic Segment
The Geographic Segments identified, as Secondary Segments are "Domestic
Market" and "Export Market". Since the Export Market Revenue is less
than 10 % of the total, the same has not been disclosed. The entire
capital employed is within India.
Jun 30, 2013
1. Corporate Information: -
M/s. Starlite Components Limited is a public limited company domiciled
in India and incorporated under the provisions of Companies Act, 1956.
The company is in the manufacturing and selling of Electronic Ballast
and LED Products with factory situated at Vilholi , Dist- Nashik and
office at Satpur, Dist - Nashik. The shares of the company are listed
on the Bombay Stock Exchange Limited (Scrip Code - 517548).
2. Basis of Preparation: -
The financial statements of the company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The company has prepared these financial statements to
comply in all material respects with the Accounting Standards notified
under the Companies (Accounting Standards) Rules, 2006 (as amended) and
the relevant provisions of the Companies Act, 1956.
The company has reclassified previous year figures wherever necessary.
3 The company has shown amount due by it M/s. Solarcopyer Limited
under Secured Loans. The amount was paid by the said Solarcopyer
Limited to Axis Bank Limited (formerly known as UTI Bank) as a proposed
Strategic Investor. The Axis Bank subsequently assigned its charge over
the assets of the company in favor of M/s Solarcopyer Limited vide
Deed of Assignment dt. 09/02/2012. The amount paid by M/s. Solarcopyer
Limited carry interest @ 15% p.a. for both Secured as well as unsecured
portion.
4 Deferred Payment Liability from W.M.D.C. is unsecured & repayable
with simple rate of interest charged @ 12.50%.
Period & amount of continuing Default in repayment of loan & interest
(Disclosure pursuant to Note no. 6(C) (vii) of Part I of Schedule VI to
the Companies Act, 1956)
Company has not defaulted on repayment of loan or interest.
5 Deferred Tax Liabilities (net)
Since there is a Deferred Tax Asset, disclosure under this note is not
required to be given.
6 Short term borrowings
(Disclosure pursuant to Note no. 6(F) of Part I of Schedule VI to the
Companies Act, 1956)
There are no short-term borrowings availed by the company. Therefore,
disclosure under this note is not required to be given.
7 Other Current Liabilities
(Disclosure pursuant to Note no. 6(G) of Part I of Schedule VI to the
Companies Act, 1956)
8 INTANGIBLE ASSETS UNDER DEVELOPMENT
There are no Intangible Assets under Development
9 Other non-current assets
(Disclosure pursuant to Note no. 6(M) of Part I of Schedule VI to the
Companies Act, 1956)
There are no other non-current assets. Therefore, disclosure under this
note is not required to be given.
10 Current Investments
(Disclosure pursuant to Note no. 6(N)of Part I of Schedule VI to the
Companies Act, 1956)
There are no current investments. Therefore, Disclosure under this note
is not required to be given.
11 Contingent liabilities and commitments
(Disclosure pursuant to Note no. 6(T) of Part I of Schedule VI to the
Companies Act, 1956)
There are no Contingent Liabilities. Therefore, Disclosure under this
note is not required to be given.
12 Dividends
(Disclosure pursuant to Note no. 6(U) of Part I of Schedule VI to the
Companies Act, 1956)
No Dividend has been declared / proposed by the Board of Directors.
Jun 30, 2012
1. Corporate Information: -
M/s. Starlite Components Limited is a public limited company domiciled
in India and incorporated under the provisions of Companies Act, 1956.
The company is in the manufacturing and selling of Electronic Ballast
and LED Products with factory situated at Vilholi, Dist- Nashik and
office at Satpur, Dist - Nashik. The shares of the company are listed
on the Bombay Stock Exchange Limited (Scrip Code -517548).
2. Basis of Preparation: -
The financial statements of the company have been prepared in
accordance with generally accepted accounting principles in India
(Indian GAAP). The company has prepared these financial statements to
comply in all material respects with the Accounting Standards notified
under the Companies (Accounting Standards) Rules, 2006 (as amended) and
the relevant provisions of the Companies Act, 1956.
During the yearended 30th June 2012, the revised Schedule VI notified
under Companies Act, 1956 has become applicable to the company for
preparation and presentation of its financial statements. The adoption
of revised schedule VI does not impact recognition and measurement
principles followed for preparation of financial statements. However,
it has significant impact on the presentation and disclosures made in
the financial statements. Thecompany has reclassified previous year
figures in accordance with the requirements applicablein the current
year.
a) Rights attached to Equity shares
(Disclosure pursuant to Note no. 6(A)(e) of Part I of Schedule VI to
the Companies Act, 1956)
The companyhas only one class of equity shares havinga par value of Rs.
10/- per share. Each Holder of equityshares is entitled to one vote per
share. The dividend proposed by the board of directors is subject to
the approval of the shareholders in the ensuing Annual General Meeting.
b) Shares held by Holding / ultimate Holding company and / or their
subsidiaries/associates
(Disclosure pursuant to Note no. 6(A)(f) of Part I of Schedule VI to
the Companies Act, 1956)
Equity and Preference Shares issued by the company and held by Holding
company, ultimate Holding company and their Subsidiaries / associates
are NIL
c) Shares reserved forissue under options - NIL
(Disclosure pursuant to Note no. 6(A)(h) of Part I of Schedule VI to
the Companies Act, 1956)
d) Securities convertible into equity/preference shares issued - NIL
(Disclosure pursuantto Note no. 6(A)(j) of Part I of Schedule VI to the
Companies Act, 1956)
e) Calls unpaid - NIL
(Disclosure pursuantto Note no. 6(A)(k) of Part I of Schedule VI to the
Companies Act, 1956)
i) Forfeited shares - NIL
(Disclosure pursuantto Note no. 6(A)(1) of Part I of Schedule VI to the
Companies Act, 1956)
Nature of security & Terms of Repayment
(Disclosure pursuant to Note no. 6(C) (ii) & (vi) of Part I of Schedule
VI to the Companies Act, 1956)
1 The company has shown amount due by it to M/s. Solarcopyer Limited
under Secured Loans. The amount was paid by the said Solarcopyer
Limited to Axis Bank Limited (formerly known as UTI Bank) as a proposed
Strategic Investor. The Axis Bank subsequently assigned its charge over
the assets of the company in favour of M/s Solarcopyer Limited vide
Deed of Assignment dt. 09/02/2012. The amount paid by M/s. Solarcopyer
Limited carry interest @ 15% p. a. for both Secured as well as
unsecured portion.
2 Deferred Payment Liability from W.M.D.C. is unsecured & repayable
with simple rate of interest charged @ 12.50%.
3 Deferred Tax Liabilities (net)
Since there is a Deferred Tax Asset, disclosure under this note is not
required to be given.
4 Short term borrowings
(Disclosure pursuantto Note no. 6(F) of Part I of Schedule VI to the
Companies Act, 1956)
There are no short-term borrowings availed by the company. Therefore,
disclosure under this note is not required to be given.
Notes-
1. None of the assets are taken or given on Lease
2. None of the assets are revalued during the year or within previous
5 years.
3. No previous revaluation done within last 5 years is written down
during the year.
4. No impairment loss has been accounted during the year.
5. No previous impairment loss has been reversed duringthe year.
5 Intangible Assets
(Disclosure pursuant to Note no. 6(J) of Part I of Schedule VI to the
Companies Act, 1956) There are no Intangible Assets
6 INTANGIBLE ASSETS UNDER DEVELOPMENT
There are no Intangible Assets under Development
Note - Provision for Diminution has been made in respect of the value
of investments in M/s. Paragon Plastics Limited, provision for
diminution has been made considering the fair market value of the
investment.
7 Other non-current assets
(Disclosure pursuantto Note no. 6(M) of Part I of Schedule Vito the
Companies Act, 1956)
There are no other non-current assets.Therefore, Disclosureunder this
note is not required to begiven.
8 Current Investments
(Disclosure pursuantto Note no. 6(N)of Part I of Schedule Vito the
Companies Act, 1956)
There are no current investments. Therefore, Disclosure under this note
is not required to be given.
9 Contingent liabilities and commitments
(Disclosure pursuant to Note no. 6(T) of Part I of Schedule VI to the
Companies Act, 1956) There are no contingent liabilities.
10 Dividends
(Disclosure pursuant to Note no. 6(11) of Part I of Schedule VI to the
Companies Act, 1956) No Dividend has been declared / proposed by the
Board of Directors.
11 Related Party Disclosure
(As per Accounting Standard -18)
1 Relationships:
a) Associate:
N.A.
b) Key Management Personnel:
Mr. Arvind Bharati
Smt. Rochana Bharati
c) Enter prises and relatives of key management where transactions have
taken place: M/s. Solarcopyer Limited
Mrs. Ashu Bharati Ravindra Bharati M/s. Universal Traders M/s. Chetana
Enterprises Starlite Lighting Ltd.
M/s Filaments & Filaments
M/s Reprolite Papers (I) Private Limited
Note -
1 The company does not have any dilutive potential equity shares
outstanding as on the last day of the previous year which can be
converted into equity shares and hence basic & diluted earnings per
share is same.
Note -
Note: Since majority of the assets are located at single place and are
of common nature. Management has decided not to bifurcate the same into
segment wise assets and liabilities
Secondary Segment - Geograph ic Segment
The Geographic Segments identified, as Secondary Segments are "Domestic
Market" and "Export Market". Since the Export Market Revenue is less
than 10 % of the total, the same ha snot been d isclosed. The entire
capita I employed is within India.
Jun 30, 2010
1. Figures for the previous year have been regrouped and rearranged
wherever necessary.
2. The balances of debtors, creditors and loans and advances are
subject to confirmation.
3. Estimated amount of contracts remaining to be executed on capital
account and not provided for is Rs. NIL (previous year Rs. Nil).
4. Contingent liability not provided for in respect of:
a) Suits filed against the company and its directors amounting to Rs.
146.11 lacs as a counter measure to suits filed by the company and its
directors involving an amount of Rs. 164.53 lacs against Market
Creators Limited, its directors and their group concerns.
5. No Employee of the Company was in receipt of remuneration exceeding
Rs. 24,00,000/- per annum, if employed throughout the year or Rs.
2,00,000/- per month, if employed for a part of the year.
Names, Description and transactions of related parties- Key Management
Starlite Lighting Ltd. - Sale/services Rs. 222,862/- Payment Rs. Nil/-
Receipts Rs. 1503277/- and Debit Balance Rs. 4728491/-.
Solarcopyer Pvt. Ltd.- Sales/services Rs. 236443002/-, Payment Rs.
1170001/-, Receipts Rs. 176361487/-, Purchase Rs. 13332224/- and Debit
Balance Rs. 79830035/-.
Reprolite Papers (II P.Ltd. - Payment Rs. 1250/- Receipt Rs. Nil/-
Balance Dr. Rs.92250/-
Paraqon Plastics Ltd. - Payment Rs. Nil/- Receipts - Rs. Nil/- Debit
Balance Rs. 1733325/-.
Relatives -
Mrs. Rochana Bharati - Prop. Filaments & Filaments Payment Rs, 443/-
Receipt Rs. 15000/- and Credit Balance Rs, 57053/-
Mr. Ravindra Bharati - Prop. Universal Traders Payment Rs. Nil/-
Receipt Rs. 134925/- and Credit balance Rs. 795939/-
6. Information required under Para 4D of Part II of Schedule VI of
the Companies Act, 1956.
a) Value of imports calculated on CIF basis of Raw Materials,
Components, Spares and Capital Goods is Rs. 15,60,53,761/- (Previous
year Rs. 10,36,62,263).
b) Expenditure in Foreign Currency during the year on account of
Royalty, Know-how, Professional Fees, Consultation Fees, Interest,
travelling and other matters is Rs. Nil/- (Previous year Rs. Nil).
c) Value of all imported raw materials, spare parts, components, etc.,
consumed / sold during the year on CIF basis Rs. 15,33,21,654/-
(Previous year Rs. 9,94,56,304/-).
d) Amount remitted during the year in foreign currency on account of
dividend is Rs. Nil. (Previous year Rs. Nil).
e) Earning in foreign exchange is Rs. Nil/- (Previous year Rs. Nil/-).
7. Advance given to group company of Rs. 60,27,000/- have been
written off in current year, vide board resolution passed in the
meeting of Board of Directors held on 15.02.2010.
8 Figures have been rounded off to the nearest rupee.
9 Provision for taxation has been made on the basis of Minimum
Alternate Tax imposed on the book profitsjf any, of the Company upto
March, 2010.
Jun 30, 2009
1. Figures for the previous year have been regrouped and rearranged
wherever necessary.
2. The balances of debtors, creditors and loans and advances are
subject to confirmation.
3. In the opinion of the Board, Loans and Advances and Current Assets
are approximately of the value stated, if realized in the ordinary
course of business.
4. Employees retirement benefits: Retirement gratuity payable to
employees is accounted on cash basis as and when paid.
5. Sales include Excise Duty but exclude Sales Tax. The Sales Tax
collected is shown as liability.
6. Estimated amount of contracts remaining to be executed on capital
account and not provided for is Rs. NIL (previous year Rs. Nil).
7. Contingent liability not provided for in respect of:
a) Suits filed against the company and its directors amounting to Rs.
146.11 lacs as a counter measure to suits filed by the company and its
directors involving an amount of Rs. 164.53 lacs against Market
Creators Limited, its directors and their group concerns.
8. Working Directors Remuneration: - 2008-09 2007-2008
(1 Director) (1 Director)
Remuneration Rs. 1,80,00/- Rs. 1,80,000/-
9. No Employee of the Company was in receipt of remuneration
exceeding Rs. 24,00,000/- per annum, if employed throughout the year or
Rs. 2,00,000/- per month, if employed for a part of the year.
Key Management -
Starlite Lighting Ltd. - Sale/services Rs. 1457044/- Payment Rs. Nil/-
Receipts Rs. 288116/- and Debit Balance Rs. 6008905.82/-.
Solarcopver Pvt. Ltd.- Sales/services Rs. 160054474.75/- Payment Rs.
116020/- Receipts Rs. 140523126.6/- Purchase Rs. 1843131.64/- and
Debit Balance Rs. 31910742.48/-.
Reprolite Papers (I) P.Ltd. - Payment Rs. 400/- Receipt Rs. Nil/-
Balance Dr. Rs.91000.ll/-
Paragon Plastics Ltd. - Payment Rs. Nil/- Receipts - Rs. 78880/- Debit
Balance Rs. 173332
Relatives -
Mrs. Rochana Bharati - Prop. Filaments & Filaments Payment Rs. Nil/-
Receipt Rs. 25000/- and Credit Balance Rs. 42496/-Mr. Ravindra Bharati
- Prop. Universal Traders Payment Rs. Nil/- Receipt Rs. Nil/- and
Credit balance Rs. 661014.32/-
10. Information required under Para 4D of Part II of Schedule VI of
the Companies Act, 1956.
a) Value of imports calculated on CIF basis of Raw Materials,
Components, Spares and Capital Goods is Rs. 10,36,62,263/-(Previous
year Rs. 9,69,95,180/-).
b) Expenditure in Foreign Currency during the year on account of
Royalty, Know-how, Professional Fees, Consultation Fees, Interest,
travelling and other matters is Rs. Nil/- (Previous year Rs. 39,750).
c) Value of all imported raw materials, spare parts, components, etc.,
consumed / sold during the year on CIF basis Rs. 9,94,563,043/-
(Previous year Rs. 9,69,95,180/-).
d) Amount remitted during the year in foreign currency on account of
dividend is Rs. Nil. (Previous year Rs. Nil).
e) Earning in foreign exchange is Rs. Nil/- (Previous year Rs. Nil/-).
11 Figures have been rounded off to the nearest rupee.
12 Provision for taxation has been made on the basis of Minimum
Alternate Tax imposed on the book profits,if any, of the Company upto
March, 2009.