Home  »  Company  »  Syschem (India)  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Syschem (India) Ltd.

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.

Find IFSC