Mar 31, 2015
1. 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.The dividend proposed by the Board of Directors is subject to
the approval of the shareholders except in the case of interim
dividend. In the event of liquidation, the holders of equity shares
will be entitled to receive remaining assets of the company, after
distribution of all preferential amount in proportion of their
shareholding.
2. Packing Credit Limit, Foreign Bill Purchase limit and Cash Credit
limit with Bank of Baroda, Nehru place, Jaipur is collaterally secured
by Equitable mortgage of Company's land & Building at Sitapura
Industrial Area, house situated at K-26, Income Tax Colony, Durgapura,
Jaipur belonging to Mr. J. P. Kanodia, Managing Director, extension of
equitable mortgage of office no.407, 4th floor, Arihant Plaza, Malviya
Nagar, Jaipur, belonging to the relative of a director, Hypothecation
of Plant & Machineries and all present and future fixed assets,
hypothecation of Raw Materials, Work in Progress, Finished Goods,
Stores & packing materials, Book Debts, Pledge of Ware House and other
properties, personal guarntees of Director, bearing interest @11.00%
p.a. (Previous Year 11.00% p.a.) in case of PC & FBP and 13.00% &
11.00% p.a.(Previous Year 13.00% & 11% p.a.) in case of CC limit
3. As per information available with the Company, there are no
suppliers covered under Micro, Small & Medium Enterprises Development
Act,2006. As a result, no interest provision/payment have been made by
the Company to such creditors, if any, and no disclosure thereof is
made in this regard.
NOTE - 4
Previous year figures have also been regrouped and rearranged where
ever considered necessary.
Other Receipts includes rent received of Rs.9,06,500/- (Previous Year
Rs. 6,65,000/-)
The Company has assessed its fixed assets for impairment at the end of
the year and concluded that there has been no significant impaired
fixed assets that needs to be recognised in the books of accounts.
NOTE - 5
During the year, the Company has revised the estimated useful life of
its assets to align with the useful life as provided in Schedule II of
the Companies Act, 2013. The Retained earnings on the balance amount of
Fixed Assets after completion of useful life of the respective fixed
assets in terms of the new provisions of depreciation as per Schedule
II of the Companies Act, 2013 and excess/short charges of depreciation
in earlier years are adjusted from the Surplus of the Profit & Loss
Account.
Miscellaneous Expenses includes a sum of Rs.3,37,733/- (Previous Year
Rs.2,64,802/-) paid for Income Tax and its interests
NOTE - 6
Amount debited in the statement of profit & loss under the head 'Claims
& Deduction of Rs.1,20,138/- and Membership & Subscription of
Rs.76,432.50 are relating to earlier years.(Previous Year Rs.Nil)
NOTE - 7
Balances of some of the advances given and taken and Sundry Debtors &
Creditors are subject to the confirmations from the respective parties.
Mar 31, 2014
NOTE-1
Previous year figures have aiso been regrouped and rearranged where
ever considered necessary.
NOTE - 2
The Company has assessed its fixed assets for impairment at the end of
the year and conduded that there has been no significant impaired fixed
assets that needs to be recognized in the books of accounts.
NOTE - 3
Other Receipts includes rent received of Rs.6,65,000/- (Previous Year
Rs. Nil)
NOTE-4
Extraordinary items consists of an amount of Depreciation of Rs.
4,23,210,91 reversed on account of subsidy received from Spices Board,
Ministry of Commerce & Industries, Government of India, against the
specific machineries purchased in earlier years.
NOTE - 5
Miscellaneous Expenses includes a sum of Rs.2,64,8C2f- (Previous Year
Rs,4,02,057/-) paid for Income Tax and its interests
NOTE - 6
SEGMENT REPORTING
i) Business Primary Segment
The Company operates in a single primary business segment, namely,
spices and food products, and hence there is no reportable primary
segment as per AS-17 on segment reporting.
Mar 31, 2013
NOTE - 1
Balances of some of the advances given and taken and Sundry Debtors &
Creditors are subject to the confirmations from the respective parties.
NOTE - 2
As per information available with the Company, there are no suppliers
covered under Micro, Small & Medium Enterprises Development Act,2006.
As a result, no interest provision/payment have been made by the
Company to such creditors, if any, and no disclosure thereof is made in
this regard.
NOTE - 3
RELATED PARTY DISCLOSURE
As per Accounting Standard -18, the disclosures of transactions with
the related parties are given below:
NOTE - 4 Previous year figures have also been re-grouped and
re-arranged wherever considered necessary.
NOTE - 5
The Company has assessed its fixed assets for impairment at the end of
the year and concluded that there has been no significant impaired
fixed assets that needs to be recognized in the books of the accounts.
NOTE - 6
SEGMENT REPORTING
i) Business (Primary) Segment
The Company operates in a single primary business segment namely in
other Agricultural Products : mainly trading of feed ingredients with
insignificant processing of spices and hence there is no reportable
primary segment as per AS-17 on segment reporting.
ii) Geographical (Secondary) Segment
a) The analysis of geographical segments is based on the areas in which
the customers of the company are located.
b) There are no carrying amount of segment assets by geographical
location of assets.
NOTE - 7
The company had 1,00,000 9% Non-Cumulative Redeemable Preference Shares
having a par value of Rs. 100 per share due for redemption on 30th
September,2009. In a meeting of the preference shareholders held on
14.09.2009, a resolution had been passed for extension of period of
redemption for three years i.e. till 30.09.2012, due to non
availability of profits for redemption. During the period under review,
the company has redeemed its preference shares at par value. Necessary
Capital Redemption reserve has duly been created in terms of the
provisions of section 80 of the Companies Act, 1956.
NOTE - 8
Amount debited in the statement of profit & loss on account of gratuity
includes Rs.83818/- relating to earlier years.
NOTE - 9
Miscellaneous Expenses includes a sum of Rs.4,02,057/- paid for Income
Tax and its interests
Mar 31, 2012
NOTE 1
Contingent liabilities and commitments (to the extent not provided for)
As at 31 032012 As at 31 03 2011
Rs. Rs.
(i) Contingent Liabilities
(a) Claims against the company
not acknowledged as debt
(b) Guarantees
(c) Other money for which the
company is contingently
liable
(ii) Commitments
(a) Estimated amount of contracts
remaining to be executed on
capital account and not
provided for
(b) Uncalled liability on shares
and other investments partly
paid
(c) Other commitments (specify
nature)
2. Previous year's figures have been reworked, regrouped, rearranged
and misclassified, wherever necessary.
3. Due to a Fire at IOC's oil tank depot, Sitapura industrial area,
Jaipur on 29.10.2009 Company's factory building was also affected.
During the year the company has repaired factory building that was
damaged in fire and an amount of Rs. 12,08,444.00 was incurred for the
purpose.
4. In the current year an insurance claim was received of Rs.
10,01,565.00, which is credited to P & L a/c, on account of an damage
to the cargo.
5. An amount of Rs. 60,00,000.00 has been credited to Capital
Redemption Reserve.
6. Bank charges contain the amount deducted by the paying bank on
account of discrepancies in the documents forwarded through the bank to
the foreign client. The discrepancies are encountered on the basis of
terms of letter of credit.
Mar 31, 2011
1. Previous year's figures have been reworked, regrouped, rearranged
and misclassified, wherever necessary.
2. Related party disclosure (AS 18)
The Company had identified all the related parties having transactions
during the year as under :-
(i) Relationship
(a) Key Management Personnel i) J.P. Kanodia
ii) Madhu Kanodia
iii) Amardeep Singh Ahluwalia
(b) Relative of Key
Management Personnel i) Smt. Sarla Devi Kanodia
3. Sundry Creditors, Sundry Debtors, Loans & Advances and Unsecured
Loans have been taken at their book value subject to confirmation and
reconciliation. However closing balances of foreign debtors has been
translated using the year end rate.
4. Due to a Fire at IOC's oil tank depot, Sitapura industrial area,
Jaipur on 29.10.2009 Company's factory building was also effected.
During the year the company has repaired factory building that was
damaged in fire and an amount of 11,08,444.00 was incurred for the
purpose.
5. In Earlier year trading of company's shares was suspended by Bombay
Stock Exchange (BSE). This suspension was revoked by BSE after charging
a penalty of Rs. 545,515.00 and such amount were debited to P & L
Account.
Mar 31, 2010
1. Previous years figures have been reworked, regrouped, rearranged
and misclassified, wherever necessary.
2. Related party disclosure (AS 18)
The Company had identified all the related parties having transactions
during the year as under :-
(i) Relationship
(a) Key Management Personnel
i) J.P. Kanodia
ii) Madhu Kanodia
iii) Vinita Mishra
iv) Amardeep Singh Ahluwalia
(b) Relative of Key Management Personnel
i) SarlaDeviKanodia
3. Sundry Creditors, Sundry Debtors, Loans & Advances and Unsecured
Loans have been taken at their book value subject to confirmation and
reconciliation. However closing balance of foreign debtors has been
translated using the year end rate.
4. Consumption of consumables and raw material has been arrived by
adding puchases to Opening Stock and deducted closing stock there from.
5. No provision for leave encashment has been made, in view of
accounting policy No 7. The impact of the same on Profit & Loss is not
determined.
6. During the reporting period, the concern has sustained a fire
loss. Expenses incurred to makeover it has been charged to the
statement of Profit & Loss Account. However insurance claim has been
submitted and the same is pending as on balance sheet date.
7. A portion of Plant & Machinery was sold out during the year for a
consideration of Rs.60, 00,000.00 and the same was reduced from the
block.
8. Mr. Sajjan Kumar Gupta resigned from the post of Director from
07.12.2009 onwards. Mr. Amardeep Singh Ahluwalia was appointed at his
place