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Notes to Accounts of Tokyo Plast International Ltd.

Mar 31, 2015

1. Related Party Disclosures

(i) List of related parties and relationships:

Name of the Related Party Relationship

1. Tokyo Finance Limited Enterprise where Key Managerial persons have significant influence

2. Tokyo Constructions Limited "

3. Siddh International "

4. Trishla distributors Inc. "

5. Tokyo Exim Limited "

6. Mahavir Houseware Distributors Inc "

7. Tokyo Plast Global FZE Subsidiary

8. Haresh V. Shah Key Managerial Personnel

2. Segment Information:

The Company is operating in a single segment. Hence, no separate segment wise information is given.

3. Company has intented to liquidate its Subsidiary . Hence the Consolidated figures are not presented as per Accounting standard (AS) 21.

4. Previous year's figures

Comparable figures have been regrouped/reclassified wherever necessary.




Mar 31, 2014

Terms/rights attached to equity shares

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. No dividend has been proposed by the Board of Directors for the Financial year 2013-14. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amount, in proportion to their shareholding.

Nature of Security and Terms of repayment

i. Term Loan of Rs.3456688/- is secured by Machineries at Daman and Kandla Factory and also guaranteed by Shri.Velji L.Shah and Shri. Haresh V.Shah Directors in their Personal Capacity, Repayable in monthly installment before 16.04.2015 with rate of interest @ 13.50%.

ii. Term Loan of Rs.11329577/- is secured by Machineries at Daman and Kandla Factory and also guaranteed by Shri. Velji L. Shah and Shri. Haresh V. Shah Directors in their Personal Capacity, Repayable in monthly installment before 13.04.2017 with rate of interest @ 13.50%.

iii. Term Loan of Rs.12499557/- is secured by hypothecation of Construction of Office Premises Known as Tokyo Tower also guaranteed by Shri. Velji L. Shah and Shri. Haresh V. Shah Directors in their Personal Capacity, Repayable in monthly installment before 28.02.2018 with rate of interest @ 13.50%.

iv. Term Loan of Rs.3553894/- is secured by Moulds at Daman and Kandla Factory and also guaranteed by Shri. Velji L. Shah and Shri. Haresh V. Shah Directors in their Personal Capacity, Repayable in monthly instalment before 20.05.2016 with rate of interest @ 13.50%.

v. Term Loan of Rs.3204436/- is secured by Moulds at Daman and Kandla Factory and also guaranteed by Shri. Velji L. Shah and Shri. Haresh V. Shah Directors in their Personal Capacity, Repayable in monthly installment before 17.10.2018 with rate of interest @ 13.50%.

vi. Vehicle Loan of Rs.1999895/- is secured by hypothecation Vehicle, Repayable in monthly installment before 30.1 1.2016 with Maximum rate of interest @ 12.65%

All loans from Banks are secured by Stock and Debtors and Collateral security of factory premises at Daman, Land at Marol Co. Op. Industrial Estate , Andheri, Plant & Machinery at Daman & Kandla and also guaranteed by Shri. Velji L. Shah & Shri. Haresh V.Shah, Directors, in their personal capacity. 1. Contingent liabilities 2013-14 2012-13

Claims against the Company not acknowledged as debts 2567000 2567000

2. Segment Information:

The Company is operating in a single segment. Hence, no separate segmentwise information is given.

3. Disclosure in pursuant to AS-19 Leases Operating Lease

The company has taken Office and Factory Premises on lease under cancellable/non-cancellable agreements that are renewable on a periodic basis at the option of both the lessee and the lesser. The initial tenure of the lease generally is for 12 months to 180 months.

4. Previous year''s figures

Comparable figures have been regrouped/reclassified wherever necessary.


Mar 31, 2013

1. Contingent liabilities 2012-13 2011-12

Claims against the Company not acknowledged as debts 25670000 25670000

2. Borrowing Costs

Borrowing costs that are attributable to the acquisition or construction of qualifying assets are capitalised as part of the cost of such assets. A qualifying asset is one that necessarily takes substantial period of time to get ready for its intended use. All other borrowing costs are charged to Profit and Loss account.

3. Segment Information:

The Company is operating in a single segment. Hence, no separate segmentwise information is given.

4. Disclosure in pursuant to AS-19 Leases Operating Lease

The company has taken Office and Factory Premises on lease under cancellable/non-cancellable agreements that are renewable on a periodic basis at the option of both the lessee and the lessor. The initial tenure of the lease generally is for 12 months to 180 months.

5. Change in classification :

During current year Company has change the classification of Profit/Loss on Foreign Exchange Fluctuation on transactions with trade receivables from Revenue from Operations to Other Expenses for better presentation purpose

6. Previous year''s figures

Comparable figures have been regrouped/reclassified wherever necessary.


Mar 31, 2012

1. Contingent liabilities 2011-12 2010-11

Claims against the Company not acknowledged as debts 25670000 25670000

2. Segment Information:

The Company is operating in a single segment Hence, no separate segmentwise information is given.

3. Disclosure in pursuant to AS-19 Leases Operating Lease

The company has taken Office and Factory Premises on lease under cancellable/non-cancellable agreements that are renewable on a periodic basis at the option of both the lessee and the lessor. The initial tenure of the lease generally is for 12 months to 180 months.

4- Disclousre persuant to Accounting Standard 21

During the Financial year the Company has made investment in its Subsidiary Tokyo Global FZE Dubai. Since no operations has yet commenced there the company has not presented Consolidated Financials as required under Accounting Standard 21 in the current financial year. All the expenditure relating to incorporation of Subsidiary is shown under Investment Account for the time being till commercial operations are commenced.

5. Previous year's figures

Hitherto the applicability of revised Schedule VI from the current year, the Company has reclassified previous year figures to conform to this year's classification. The adoption of revised Schedule VI does not impact recognition and measurement principles followed for preparation of the financial statements. However, it significantly impacts presentation and disclosures made in the financial statements, particularly presentation of Balance Sheet.


Mar 31, 2010

1 Related Party Transactions:

The company has transactions with the following related parties: Associates : Tokyo finance Limited, Tokyo Constructions Limited, Siddh International Mahavir Houseware Distributors Inc., Tokyo Exim Limited and Trishla distributors Inc. Director : Haresh V. Shah

2 Contingent liabilities not provided for :-

a. Claims made by the party not acknowledged as debts as on 31st March 2010 amounting to Rs.25.67 (Previous year Rs.25.67)

b. Guarantee given by the bank on behalf of the company to third parties aggregating to Rs. 6.50 Lacs (Previous Year 6.50 lacs)

c. Income Tax matters - Matters decided against the Company in respect of which the Company has preferred an appeal for AY 2004-05 Rs.11.81 lakhs

3 Name of the small scale industrial undertakings to whom the Company owed any sum which was outstanding for more than 30 days at the end of the financial year are as follows (to the extent such parties have been identified from the available documents/information) :- Asian Narrow fabrics Co, Deev Engineers, Deo Surgical & Scientific Co., Divine Tool Engineers, Dowell Aerosols, Expo Packaging, Fame Enterprises, Glasso Pack, Heena Appliances, M Colour Concentrates, Mahavir Chemo Plast Pigments, Makers Polyfilm Pvt. Ltd., Matchwel Colourants, Mixwel Polymers, Milak Plastic Enterprises, Procam Graphics, S.S.Mould Works, Sabari Poly Pack, Sneha Industries, Vahid Paper Convertors, Vaibhav Enterprises, V. Milak Enterprises,Yes Plastics.

 
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