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Notes to Accounts of Technofab Engineering Ltd.

Mar 31, 2015

1. Contingent Liability

a. Claims against the Company not acknowledged as debt (net) amount to Rs 15,538,070 (Previous year Rs 15,538,070).

b. The Bank guarantees/letters of credit/Bill discounted given by the Banks for and on behalf of the Company outstanding at the end of the year amounted to Rs 6,048,486,719 (Previous year Rs 5,760,258,344).

c. In respect of demand against Sales Tax amounting to Rs 9,282,836 (Previous year Rs 9,282,836) raised by the authorities, appeals are pending before the authorities.

d. Capital commitment (Net of advances) Rs 31,167,051 (Previous year Rs 29,113,788).

2. Fixed Deposits/cash margin with banks amount to Rs 289,953,641 (Previous year Rs 288,012,917) are under lien with banks as per banking arrangements.

3. Auditor's Remuneration consist of Audit Fees of Rs 53,371 (Previous Year Rs 50,562) and Rs 45,502 (Previous Year Rs 43,820) for other services.

4. There is no separate reportable segment as per accounting standard AS-17.

5. Related Party Transactions: (1) Names of Related Parties

(A) Key Management Person / Control Whole time director

(a) Avinash C. Gupta (Whole Time Director)

(b) Arjun Gupta (Whole Time Director)

(c) Nakul Gupta (Whole Time Director)

Non whole-time-directors

(a) Arun Mittar (Independent Director Non Executive)

(b) Pawan Chopra (Independent Director Non Executive)

(c) V. S. Mathur (Independent Director Non Executive)

(d) Anju Banerjee (Independent Director Non Executive)

(B) Executive Oncers

(a) Sandeep Kumar Vij (Chief Financial Oncer)

(b) Ashish Kapil (Company Secretary)

(C) Enterprises under Common Control / enterprises where persons described in "A" above is able to exercise significant influence.

(a) Techfab International Pvt. Ltd.

(b) Techfab Systems Pvt. Ltd.

(c) Bakool Venture Pvt. Ltd.

(d) JoyLuck Venture India Pvt. Ltd.

(e) Chasha Lands Pvt. Ltd.

(f) Torno Infrastructure Pvt. Ltd.

(g) Wrap Art & Design Private Limited

(D) Relatives of Key managerial Person

(a) Meera Gupta

(b) Gunjan Gupta

(c) Sucheta Sarvadaman Nakul

(E) Wholly owned Subsidiary Company

(a) Rivu Infrastructural Developers Pvt. Ltd.

(b) Woodlands Instruments Pvt. Ltd.

(c) Arihant Flour Mills Pvt. Ltd.

6. The nature of business of the Company is such that it is not practicable to give quantitative information.

7. Turnover is net of Procurement and other related charges.

8. Trade Payables :- (a) To the extent information is available with the Company, Sundry Creditors include Nil, (Previous year Nil) due to Small Scale Industrial Undertakings.

(b) The Company has not received any information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. To the extent of information available with the Company, the Company does not owe any sum including interest required to be disclosed under the said Act.

10 Previous year figures have been regrouped / rearranged wherever considered necessary.


Mar 31, 2014

1 Notes

Note: (a) The Current Accounts balance with Scheduled Banks includes amount of Rs. 60,141 (Previous Year Rs. 36,796 earmarked for payment of unpaid dividend.

(b) Fixed Deposited/cash margin with banks amount to Rs. 28,80,12,917 (Previous year Rs. 23,47,20,937) are under lien with banks as per banking arrangements.

2 Contingent Liability

a. Claims against the Company not acknowledged as debt (net) amount to Rs. 1,55,38,070 (Previous year Rs. 14,91,755).

b. The Bank guarantees/letters of credit/Bill discounted given by the Banks for and on behalf of the Company outstanding at the end of the year amounted to Rs. 5,76,02,58,344 (Previous year Rs. 4,69,44,18,747).

c. In respect of demand against Sales Tax amounting to Rs. 92,82,836 (Previous year Rs. 13,73,82,040) raised by the authorities, appeals are pending before the authorities.

d. Capital commitment (Net of advances) Rs. 2,91,13,788 (Previous year Rs. 2,31,13,788).

3 Fixed Deposits/cash margin with banks amount to Rs. 28,80,12,917 (Previous year Rs. 23,47,20,937) are under lien with banks as per banking arrangements.

4 Auditor''s Remuneration consist of Audit Fees of Rs. 50,562 (Previous Year Rs. 50,562) and Rs. 43,820 (Previous Year Rs. 40,820) for other services.

5 There is no separate reportable segment as per accounting standard AS-17.

6 Related Party Transactions :

(1) Names of Related Parties

(A) Key Management Person / Control

(a) Avinash C. Gupta

(b) Arjun Gupta

(c) Nakul Gupta

(B) Enterprises under Common Control / enterprises where persons described in "A"above is able to exercise significant influence.

(a) Techfab International Pvt. Ltd. (b) Techfab Systems Pvt. Ltd. (c) Bakool Venture Pvt. Ltd. (d) JoyLuck Venture India Pvt. Ltd. (e) Chasha Lands Pvt. Ltd. (f) Torno Infrastructure Pvt. Ltd. (g) Wrap Art & Design Private Limited Relatives of Key managerial Person (a) Meera Gupta (b) Gunjan Gupta (c) Sucheta Sarvadaman Nakul

(D) Wholly owned Subsidiary Company

(a) Rivu Infrastructural Developers Pvt. Ltd.

(b) Woodlands Instruments Pvt. Ltd.

(c) Arihant Flour Mills Pvt Ltd.

7 The nature of business of the Company is such that it is not practicable to give quantitative information.

8 Turnover is net of Procurement and other related charges.

9 Trade Payables :-

(a) To the extent information is available with the Company, Sundry Creditors include Nil, (Previous year Nil) due to Small Scale Industrial Undertakings.

(b) The Company has not received any information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. To the extent of information available with the Company, the Company does not owe any sum including interest required to be disclosed under the said Act.


Mar 31, 2013

1.1 Contingent Liability

a. Claims against the Company not acknowledged as debt (net) amount to Rs. 14,91,755 (Previous year Rs. 14,91,755).

b. T he Bank guarantees/letters of credit/Bill discounted given by the Banks for and on behalf of the Company outstanding at the end of the year amounted to Rs. 4,69,44,18,747 (Previous year Rs. 2,79,63,27,834).

c. In respect of demand against Sales Tax amounting to Rs. 13,73,82,040 (Previous year Rs. 13,55,000) raised by the authorities, appeals are pending before the authorities.

d. Capital commitment (Net of advances) Rs. 2,31,13,788 (Previous year Rs. 2,04,10,000).

1.2 Fixed Deposits/cash margin with banks amount to Rs. 23,47,20,937 (Previous year Rs. 35,95,46,039) are under lien with banks as per banking arrangements.

1.3 Auditor''s Remuneration consist of Audit Fees of Rs. 50,562 (Previous Year Rs. 49,635) and Rs. 40,820 (Previous Year Rs. 18,200) for other services.

1.4 There is no separate reportable segment as per accounting standard AS-17.

1.5 Related Party Transactions :

(1) Names of Related Parties

(A) Key Management Person / Control

(a) Avinash C. Gupta

(b) Arjun Gupta

(c) Nakul Gupta

(B) Enterprises under Common Control / enterprises where persons described in "A" above is able to exercise significant influence.

(a) Techfab International Pvt. Ltd.

(b) Techfab Systems Pvt. Ltd.

(c) Bakool Venture Pvt. Ltd.

(d) JoyLuck Venture India Pvt. Ltd.

(e) Chasha Lands Pvt. Ltd.

(f) Torno Infrastructure Pvt. Ltd.

(C) Relatives of Key managerial Person

(a) Meera Gupta

(b) Gunjan Gupta

(c) Sucheta Sarvadaman Nakul

(D) Wholly owned Subsidiary Company

(a) Rivu Infrastructural Developers Pvt. Ltd.

(b) Woodlands Instruments Pvt. Ltd.

(c) Arihant Flour Mills Pvt Ltd.

1.6 The nature of business of the Company is such that it is not practicable to give quantitative information.

1.7 Turnover is net of Procurement and other related charges.

1.8 Trade Payables :- (a) To the extent information is available with the Company, Sundry Creditors include Nil, (Previous year Nil) due to Small Scale Industrial Undertakings.

(b) The Company has not received any information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. To the extent of information available with the Company, the Company does not owe any sum including interest required to be disclosed under the said Act.

1.9 Previous year figures have been regrouped / rearranged wherever considered necessary.


Mar 31, 2012

Note :

(i) Reconciliation of the number of shares outstanding at the beginning and at the end of the reporting period.

(ii) List of share holders holding more than 5% of the total shares of the Company.

Note : * Secured by hypothecation of the asset purchased under various financing schemes and repayment terms of term loans Rs. 36,89,648 payable within 1-2 years.

** Loan from Banks (working capital facilities) are secured against tangible movable assets including stock, stores and book debts of the Company and against equitable mortgage of the Company's immovable properties comprising land, building and other structures and fittings, fixed plant and machinery and other fixtures and fittings erected or installed at factory land and building and personal guarantees of three Directors.

1. Cost of Quoted Investment Rs. 1,81,52,144 (Previous Year Rs. 84,87,506). Market Value Rs. 1,60,61,443 (Previous Year Rs. 93,54,639).

2. Cost of Unquoted Investment other than Mutual fund units Rs. 8,31,92,760 (Previous Year Rs. 2,16,57,460)

3. Cost of Unquoted Investment in Mutual Fund Rs. 37,74,15,914 (Previous Year Rs. 34,80,90,858). Net Asset Value Rs. 46,43,93,534 (Previous Year Rs. 35,03,69,205)

Note : (a) The Current Account Balances with Scheduled Banks includes amount of Rs.19,779 earmarked for payment of unpaid dividend. (b) Fixed deposits

Note : * In accordance with Accounting Standard 11(Revised) the net exchange profit added in other income is Rs. 1,23,65,688 (Previous Year Loss of Rs. 80,89,555)

1.1 Contingent Liability

a. Claims against the Company not acknowledged as debt (net) amount to Rs. 14,91,755 (Previous year Rs. 14,91,755).

b. The Bank guarantees/letters of credit/Bill discounted given by the Banks for and on behalf of the Company outstanding at the end of the year amounted to Rs. 2,79,63,27,834 (Previous year Rs. 2,67,55,00,338).

c. In respect of demand against Sales Tax amounting to Rs. 13,55,000 (Previous year Rs. 13,55,000) raised by the authorities, appeals are pending before the authorities.

d. In respect of demand against Income Tax amounting to Rs. 26,02,637 (Previous year Rs. NIL) raised by the authorities for Assessment Year 2004-05, appeals are pending before the authorities.

e. In respect of demand against Income Tax amounting to Rs. 3,58,789 (Previous year Rs. NIL) raised by the authorities for Assessment Year 2005-06, appeals are pending before the authorities.

f. Capital commitment (Net of advances) Rs. 2,04,10,000 (Previous year Rs. 1,35,00,000).

(B) Enterprises under Common Control / enterprises where persons described in "A" above is able to exercise significant influence.

(a) Techfab International Pvt. Ltd.

(b) Techfab Systems Pvt. Ltd.

(c) Bakool Venture Pvt. Ltd.

(C) Relatives of Key managerial Person

(a) Meera Gupta

(b) Gunjan Gupta

(c) Sucheta Sarvadaman Nakul

(D) Wholly owned Subsidiary Company

(a) Rivu Infrastructural Developers Pvt. Ltd.

(b) Woodlands Instruments Pvt. Ltd.

(c) Arihant Flour Mills Pvt Ltd.

Figures within brackets are in respect of previous year.

1.2 Trade Payables:

(a) To the extent information is available with the Company, Sundry Creditors include Nil, (Previous year Nil) due to Small Scale Industrial Undertaking.

(b) The Company has not received any information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. To the extent of information available with the Company, the Company does not owe any sum including interest required to be disclosed under the said Act.

1.3 Previous year figures have been regrouped / rearranged wherever considered necessary.


Mar 31, 2011

1. Contingent Liability

a. Claims against the Company not acknowledged as debt (net) amount to Rs. 14,91,755 (Previous year Rs. 14,91,755).

b. The Bank guarantees/letters of credit/Bill discounted given by the Banks for and on behalf of the Company outstanding at the end of the year amounted to Rs.2,67,55,00,338 (Previous year Rs. 1,22,64,49,874).

c. In respect of demand against Sales Tax amounting to Rs. 13,55,000 (Previous year Rs. 13,55,000) raised by the authorities, appeals are pending before the authorities.

d. Capital commitment (Net of advances) Rs. 1,26,50,000 (Previous year NIL)

2. Fixed Deposits/cash margin with banks amount to Rs.24,30,09,161 (Previous year Rs. 10,45,17,113) are under lien with banks as per banking arrangements.

3. Loan from Banks (working capital facilities) are secured against tangible movable assets including stock, stores and book debts of the Company and against equitable mortgage of the Company's immovable properties comprising land, building and other structures and fittings, fixed plant and machinery and other fixtures and fittings erected or installed at factory land and building and personal guarantees of three Directors. Vehicles/ Equipments loans are secured by hypothecation of respective Vehicle/ equipments financed.

4. Auditor's Remuneration consist of Audit Fees of Rs. 40,000 (Previous Year Rs. 25,000) and Rs.57,908 (Previous Year Rs. 79,550) for other services.

5. In the opinion of the management current assets, loans and advances are approximately of the value stated, if realized, in the ordinary course of business. The balances of Sundry Debtors, Sundry Creditors and Loans & Advances are subject to confirmation/reconciliation.

6. There is no separate reportable segment as per accounting standard AS-17.

7. Related Party Transactions

(1) Name of Related Parties

(A) Key Management Person / Control

(a) Avinash C.Gupta

(b) Arjun Gupta

(c) Nakul Gupta

(B) Enterprises under Common Control / enterprises where persons described in "A" above is able to exercise significant influence.

- Techfab International Pvt. Ltd.

- Techfab Systems Pvt. Ltd.

- Bakool Venture Pvt. Ltd.

(C) Relatives of Key managerial Person

(a) Meera Gupta

(b) Gunjan Gupta

(c) Sucheta Sarvadaman Nakul

(D) Wholly owned Subsidiary Company

(a) Rivu Infrastructural Developers Pvt. Ltd.

(b) Woodlands Infrastructure Pvt. Ltd.

8. The nature of business of the company is such that it is not practicable to give quantitative information.

9. Turnover is net of Procurement and other related charges.

10. (a) To the extent information available with the company, Sundry Creditors include Nil, (Previous year Nil) due to Small Scale Industrial Undertaking.

(b) The company has not received any information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. To the extent of information available with the company, the company does not owe any sum including interest required to be disclosed under the said Act.

11. Previous year figures have been regrouped / rearranged wherever considered necessary.

12 As on 31st March 2011 no amount was due from directors / related firm & companies in which they are interested. However an advance of Rs. 45,69,558 ( Previous Year Rs. 5,12,155) was due from wholly period subsidiary company Rivu Infrastructural Developers Pvt. Ltd. (Previous Year-NIL).

13. Additional information as required under Part-IV of Schedule VI to the Companies Act 1956 has been annexed herewith.


Mar 31, 2009

1. Contingent Liability

a) Claims against the Company not acknowledged as debt (net) amount to Rs. 1,491,755 (Previous year Rs. 1,591,755).

b) The Bank guarantees/letters of credit/Bill discounted given by the Banks for and on behalf of the Company outstanding at the end of the year amounted to Rs. 638,465,058 (Previous year Rs.371,047,700).

c) In respect of demand against Sales Tax amounting to Rs. 1.413 Million (Previous year Rs. 3.077 Million) raised by the authorities, appeals are pending before the authorities.

2. Fixed Deposits/cash margin with banks amount to Rs. 67,461,921 (Previous year Rs. 27,712,110) are under lien with banks as per banking arrangements.

3. Loan from Banks (working capital facilities) are secured against tangible movable assets including stock, stores and book debts of the Company and against equitable mortgage of the Companys immovable properties comprising land, building and other structures and fittings, fixed plant and machinery and other fixtures and fittings erected or installed at factory land and building and personal guarantees of three Directors. Vehicles/ Equipments loans are secured by hypothecation of respective Vehicle/equipments financed.

4. Legal & Professional Charges includes Audit Fees of Rs. 25,000 (Previous Year Rs. 15,000)

5. In the opinion of the management current assets, loans and advances are approximately of the value stated, if realized, in the ordinary course of business. The balances of Sundry Debtors, Sundry Creditors and Loans & Advances are subject to confirmation/reconciliation.

6. Deferred tax asset comprised of the following: -

7. There is no separate reportable segment as per accounting standard AS-17.

8. Related Party Transactions

(1) Name of Related Parties

(A) Key Management Person/Control

(a) Avinash C.Gupta

(b) Arjun Gupta

(c) Nakul Gupta

(B) Enterprises under Common Control / enterprises where persons described in "A" above is able to exercise significant influence.

Techfab International Pvt. Ltd. Techfa b Syste m s Pvt. Ltd.

(C) Relatives of Key managerial Person

(a) Meera Gupta

(b) Gunjan Gupta

(c) Sucheta Sarvadaman Nakul

9. The nature of business of the company is such that it is not practicable to give quantitative information.

10. Turnover is net of Procurement and other related charges.

11. Disclosure pursuant to Accounting Standard -15

a) During the previous year, the company has adjusted Rs. 69,539 (net of Deferred Tax of Rs. 5,395) towards the transitional effect of defined benefit obligation in respect of employee benefits to the opening balance of General Reserve.

12. a) To the extent information available with the company, Sundry Creditors include Nil, ((Previous year Nil) due to Small Scale Industrial Undertaking.

b) The company has not received any information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. To the extent of information available with the company, the company does not owe any sum including interest required to be disclosed under the said Act.

13. Previous year figures have been rearranged.

14. Additional information as required under Part-IV of Schedule VI to the Companies Act 1956 has been annexed herewith.

 
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