Home  »  Company  »  Suncity Syntheti  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Suncity Synthetics Ltd.

Mar 31, 2015

1. Nil Shares out of the issued, subscribed and paid up share capital were allotted as Bonus Shares in the last five years by capitalisation of Securities Premium and Reserves.

2. Nil Shares out of the issued, subscribed and paid up share capital were allotted in the last five years pursuant to the various Schemes of amalgamation without payment being received in cash.

3. Shares out of the issued, subscribed and paid up share capital were allotted on conversion / surrender of Ni| Debentures and Bonds, conversion of Term Loans, exercise of warrants, against Global Depository Shares (GDS) and re-issue of forfeited equity shares, since inception.

4. Shares out of the issued, subscribed and paid up share capital held by Subsidiaries do not have Voting Rights and are Nil not eligible for Bonus Shares.

5. Shares out of the issued, subscribed and paid up share capital were allotted as fully paid-up Bonus Shares by way of capitalisation of reserves.

6. Rights, preferences and restrict ions attaching to equity shares:

entitled to one vote per shares. Each share is entitled to equal dividend declared by the company and approved by the share holders of the Company.

In the event of liquidation, each share carry equal rights and will be entitled to receive equal amount per share out of the remaining amount available with the company after making preferential payments.

7. Depreciation of Rs. 91,82,092.00 for the assets having WDV but having useful life "Nil" under the provision of the Schedule II of the Companies Act, 2013 has been passed trough the reserve and surplus during the year after providing suitable value for "Salvage Value" as per the provisions of Companies Act, 2013.

8. The Term Loan Facility from State Bank of Bikaner and Jaipur is secured by way of:

a) First charge over entire fixed assets of the company present and future of the company.

b) First charge by way of equitable mortgage by way of deposit of original title deeds of company's Factory Land and Building at Plot No. F-5 (B,C,D) RIICO Industrial Area, 2nd Phase, Boranada, Jodhpur, Rajasthan.

9. The Working capital facilities [Both fund and Non Fund] availed from the bank, are secured by way of first charge ranking pari passu on current Assets i.e. Hypothecation of Stocks of Raw Materials, Work-in-Progress, Finished Goods, Stores & Spares and Book Debts and 2nd charge on Fixed Assets of the Company [Except specifically charged for Term Loan]

10. RELATED PARTY DISCLOSURE

As per Accounting Standard - 18, the disclosure of Transactions with the related parties are given below: A. Key Management Personals and their relatives

(i) Enterprises Owned or Controlled By KMP's

DHARA FABRICS PVT. LTD.

K D S TEXTILES PVT LTD.

(ii) Key Management Personnel

POONAM SURESH JAIN SURESH DHANRAJ JAIN

(iii) Relatives of Key Management Personnel

AJAY LODHA AJAY LODHA HUF J. K. KOTHARI TWINKLE JAIN

MOHAN SINGH SANJAY KUMAR HUF

SURESH KAWAD HUF

SHAKUNTALA LODHA

ANITA JAIN

SAMYAK JAIN

SANJAY PATHAK

MAHENDRA KAWAD

RAMESH KAWAD

11. As informed by the Management of the company and as per our observation under audit, no Contingent liabilities and commitments against the company is pending on which provision is required to be made or deferred for the current financial.


Mar 31, 2014

1.1 NilShares out of the issued, subscribed and paid up share capital were allotted as Bonus Shares in the last five years by capitalisation of Securities Premium and Reserves.

1.2 NilShares out of the issued, subscribed and paid up share capital were allotted in the last five years pursuant to the various Schemes of amalgamation without payment being received in cash.

1.3 NilShares out of the issued, subscribed and paid up share capital were allotted on conversion / surrender of Debentures and Bonds, conversion of Term Loans, exercise ofwarrants, against Global Depository Shares (GDS) and re-issue of forfeited equity shares, since inception.

1.4 NilShares out of the issued, subscribed and paid up share capital held by Subsidiaries do not have Voting Rights and are not eligible for Bonus Shares.

1.5 NilShares out of the issued, subscribed and paid up share capital were allotted as fully paid-up Bonus Shares by way of capitalisation of reserves.

2. Rights, preferences and restrictions attaching to equity shares

The Company has issued only one class of equity shareshaving par value ofRs.10/-per share. Each holder of equity share is entitled to one vote per shares. Each share is entitled to equal dividend declared by the company and approved by the share holders of the Company.

In the event of liquidation, each share carry equal rights and will be entitled to receive equal amount per share out of the remaining amount available with the company after making preferential payments.

2.2 The Term Loan Facility from State Bank of Bikaner and Jaipur is secured by way of:

a) First charge over entire fixed assets of the company present and future of the company.

b) First charge by way of equitable mortgage by way of deposit of original title deeds of company''s Factory Land and Building at Plot No. F-5(B,C,D) RIICO Industrial Area, 2nd Phase, Boranada, Jodhpur, Rajasthan.

2.3 The Term Loan VI from State Bank of Bikaner and Jaipur for'' 200Lacs is partly disbursed in the current Financial Year. The remaining amount will be disbursed in the next financial year and the repayment will be started from July 2014.

3.1 The Working capital facilities [Both fund and Non Fund] availed from the bank, are secured by way of first charge ranking pari passu on current Assets i.e. Hypothecation of Stocks of Raw Materials, Work-in-Progress, Finished Goods, Stores & Spares and Book Debts and 2nd charge on Fixed Assets of the Company [Except specifically charged for Term Loan]

4.1 Statutory dues denotes TDS deducted on various kind of expenses which are liable to be deducted at source.

The previous vear fiaures have been rearouoed / reclassified, wherever necessary to conform to the current year presentation.

5 RELATED PARTY DISCLOSURE

As per Accounting Standard -18, the disclosure of Transactions with the related parties are given below: A. Key Management Personals and their relatives

(i) Enterprises Owned or Controlled By KMP''s

Dhara Fabrics Pvt. Ltd.

KDS Textiles Pvt Ltd.

(ii) Key Management Personnel

Poonam Suresh Jain

Suresh Dhanraj Jain

(iii) Relatives of Key Management Personnel

Ajay Lodha

Ajay Lodha HUF

Anita Jain

J K Kothari

Mahendra Kawar

Ramesh Kawar

Suresh Kawar HUF

Twinkle Jain

Mohan Singh Sanjay Kumar HUF

Shakuntala Lodha

Neha Kothari

Naresh Jain

Samyak Jain

As informed by the Management of the company and as per our observation under audit, no Contingent liabilities and commitments against the company is pending on which provision is required to be made or deferred for the current financial year.


Mar 31, 2013

1.1 Rights, preferences and restrictions attaching to equt shares:

The Company has issued only one class of equity shares having par value of Rs. 10/- per share. Each holder of equity share is entitled to one vote per shares. Each share is entitled to equal dividend declared by the company and approved by the share holders of the Company.

In the event of liquidation, each share carry equal rights and will be entitled to receive equal amount per share out of the remaining amount available with the company after making preferential payments.


Mar 31, 2012

1.1 The Term Loan Facility from State Bank of Bikaner and Jaipur is secured by way of:

a) First charge over entire fixed assets of the company present and future of the company.

b) First charge by way of equitable mortgage by way of deposit of original title deeds of company s Factory Land and Building at Plot No. F-5 (B,C-7,D) RIICO industrial Area, 2nd Phase, Boranada, Jodhpur, Rajasthan.


Mar 31, 2011

1 Contingent Liabilities:

a) No Contingent Liability has been reported to us by the management.

2 Related Party Disclosure (a) List of Related Parties

(i) Key Management Personnel and their relatives

Key Management Personnel - Mr. Dhanraj Jain, Mr. Suresh Dhanraj jain, Mr. Jamboo Kothari, Mr. Naresh Jain Other related Parties - Mr. Mahendra Kawar, Smt. Patasi Devi, Richa Jain & Mrs. Reena Kawar

(ii) Enterprises owned or significantly influanced by Key Magaement Personnel

Myco Synthetics Pvt. Ltd., KDS Tex Pvt. Ltd.,Dhara Fabrics Pvt. Ltd.,Suncity Polyster Pvt. Ltd., Ziquita Health Care Pvt. Ltd.

(b)Transactions/ outstanding balances with Related Parties -

The company has entered into transactions with certain related parties as listed below. The Board Considers such transactions to be in normal course of business.

3 Provision for Taxation:

(i) Provision for current year tax has been made as per the Income Tax Act, 1961.

(ii) The Company estimate the deferred taxes charge/ (credit) using the applicable rate of taxation based on the impact of timing difference between financial statements and estimates taxable income for the current year.

4 Balances of sundry debtors, creditors and loan accounts are subject to confirmation.

5 Amount in the Balance Sheet and Profit & Loss a/c are rounded off to the nearest rupee.

6 Previous year figures have been regrounped and rearranged wherever necessary.


Mar 31, 2010

1 Contingent Liabilities: a)No Contingent Liability has been reported to us by the management.

2 Loan Liabilities:

a) Loan take are secured by hypothecation of vechicals as purchased by them.

b) Working capital OD a/c with Indusind Bank Ltd. is secured by hypothecation of stock ( Raw material & Finished goods).

3 Related Party Disclosure (a)List of Related Parties

(i) Key Management Personnel and their relatives

Key Management Personnel - Mr. Dhanraj Jain, Mr. Surest) Dhanraj jain,

Other related Parties - Mr. Mahendra Kawar, Smt. Patasi Devi, Richa Jain & Mrs. Reena Kawar

(I) Enterprises owned or significantly influence by Key Management Personnel Myco Synthetics Pvt. Ltd., KDS Tex Pvt. Ltd., Dhara Fabrics Pvt Ltd.

4 Provision for Taxation:

(i) Provision for current year tax has been made as per the Income Tax Act, 1961.

5 Balances of sundry debtors, creditors and loan accounts are subject to confirmation.

6 Amount in the Balance Sheet and Profit & Loss a/c are rounded off to the nearest rupee.

7 Previous year figures have been regrouped and rearranged wherever necessary.

 
Subscribe now to get personal finance updates in your inbox!