Mar 31, 2014
(Rs in Lacs)
Particulars 31st March 2014 31st March 2013
1 Contingent liabilities and Commitments:
(to the extent not provided for)
a) Contingent Liabilities:
i) Claims against the Company not
acknowledged as debts 22.50 10.50
ii) Bank Guarantee - 300.00
iii) Tax demands under disputes 14.94 19.49
iv) Other monies for which Company is contingently liable H
The management believes, based on internal assessment and / or legal
advice, that the probability of an ultimate adverse decision and
outflow of resources of the Company is not probable and accordingly, no
provision for the same is considered necessary.
b) Commitments
i) Estimated amount of contracts remaining - 17.45
to be executed on capital account and not
provided for (net of advances) ii) Other Commitments
2 Additional Information:
1) Details related to Long term Borrowings
a Details of security
Term Loan is secured by hypothecation of Land & Building, Plant &
Machinery and Misc Fixed Assets purchased from the term loan coupled
with extension of charge on existing asset block of the Company.
Vehicle Loans are secured against hypothecation of vehicles for which
loan has been taken.
Other Secured Loans are secured by way of first charge on assets
against which loan is taken and personal guarantee of the Managing
Directorand Whole-time Directors of the Company.
b Term Loan, Cash Credit and Bank Guarantee from PNB are guaranteed and
collaterally secured by the Managing
Director and the Whole-time Directors of the Company along with Mr.
Ajay Kumar Chaudhary, Mr. and Mrs Atul Kumar, M/s Allychem Laboratories
Pvt. Limited and Allychem Securities Pvt. Limited.
3) The management has certified the fixed assets installed and put to
use & relied upon by the auditors, being a technical matter. During
the year, Borrowing cost and other cost capitalized up to March 31,2014
Rs 209.43 lacs (as at March 31,2013 is Rs 262.23 lacs)
4) The inventory of stocks, stores and spares has been taken, valued
and certified by the management.
5) The balance of Trade Receivable and Trade Payable, are subject to
confirmation.
6) Segment Reporting
The Company is working under one business segment only i.e. chemicals.
These chemicals are having different applications. Besides there is
not any significant variances on geographical basis, so the segment
reporting defined under Accounting Standard 17 is not applicable to the
Company.
7) Previous year''s figures have been re-arranged and reclassified
wherever necessary to make them comparable with the current year''s
figures. The amount have been rounded off to nearest lakhs.
Mar 31, 2013
1 Additional Information:
1) Details related to Long term Borrowings
a Details of security
Term Loan is secured by hypothecation of Land & Building, Plant &
Machinery and Misc Fixed Assets purchased from the term loan coupled
with extension of charge on existing asset block of the company.
Vehicle Loans are secured against hypothecation of vehicles for which
loan has been taken.
Other Secured Loans are secured by way of first charge on assets
against which loan is taken and personal guarantee of the Managing
Director and Whole-time Directors of the company.
b Term Loan, Cash Credit and Bank Guarantee from PNB are guaranteed and
collaterally secured by the Managing Director and the Whole-time
Directors of the company along with Mr. Ajay Kumar Chaudhary, Mr. and
MrsAtuI Kumar, M/sAllychem Laboratories Pvt. Limited and Allychem
Securities Pvt. Limited.
c Terms of repayment of term loans and others
2) The management has certified the fixed assets installed and put to
use & relied upon by the auditors, being a technical matter. During the
year, Borrowing cost and other cost capitalized up to March 31, 2013 Rs
262.23 lacs (as at March 31,2012 is Rs 10.68 lacs)
3) The inventory of stocks, stores and spares has been taken, valued
and certified by the management.
4) The balance of Trade Receivable and Trade Payable, are subject to
confirmation.
5) Segment Reporting
The Company is working under one business segment only i.e. chemicals.
These chemicals are having different applications. Besides there is not
any significant variances on geographical basis, so the segment
reporting defined under Accounting Standard 17 is not applicable to the
Company.
6) Previous year''s figures have been re-arranged and reclassified
wherever necessary to make them comparable with the current year''s
figures. The amount have been rounded off to nearest lakhs.
Mar 31, 2012
A Details of security for secured loans
Term Loan is secured by hypothecation of Land & Building, Plant &
Machinery and Misc Fixed Assets purchased / to be purchased from term
loan coupled with extension of charge on existing asset block of the
company
Vehicle Loans are secured against hypothecation of vehicles for which
loan has been taken
b Term Loan, Cash Credit and Bank Guarantee from PNB are guaranteed and
collaterally secured by the Whole-time Directors of the company along
with Mr. Ajay Kumar Chaudhary, Mrs. and Mr. Atul Kumar, M/s Allychem
Laboratories Pvt. Limited and Allychem Securities Pvt. Limited
c Terms of repayment of Term Loans and others
Principal amount of term loans to be repaid in 23 quarterly
installments of Rs. 45.65 lacs beginning after 15 months from date of 1
st disbursement
Vehicle Loan taken for Mahindra Genio is to be repaid in 36 Equal
Monthly Installments of Rs. 15165 starting from 15th April 2012
Vehicle Loan taken for Tata Sumo is to be repaid in 36 Equal Monthly
Installments of Rs. 17815 starting from 15th April 2012
Vehicle Loan taken for Maruti Ritz is to be repaid in 36 Equal Monthly
Installments of Rs. 15055 starting from 1 st May 2012
Raw material and stores and spares are valued at cost, Work in progress
is valued at Estimated costand Finished goods is valued at cost or
realisable value whichever is less
The management believes, based on internal assessment and / or legal
advice, that the probability of an ultimate adverse decision and
outflow of resources of the Company is not probable and accordingly, no
provision for the same is considered necessary.
1) The management has certified the fixed assets installed and put to
use & relied upon by the auditors, being a technical matter.
2) The inventory of stocks, stores and spares has been taken, valued
and certified by the management.
3) The balance of Trade Receivable and Trade Payable, are subject to
confirmation.
4) Segment Reporting
The Company is working under one business segment only i.e. chemicals.
These chemicals are having different applications. Besides there is not
any significant variances on geographical basis, so the segment
reporting defined under Accounting Standard 17 is not applicable to the
Company.
5) Previous year's figures have been re-arranged and reclassified
wherever necessary to make them comparable with the current year's
figures. The amount have been rounded off to nearest rupee.