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Notes to Accounts of United Leasing & Industries Ltd.

Mar 31, 2015

1. Related Party Disclosure under Accounting Standard 18

Relationship: Associate Concern RLF Limited Saurer Embroidery Systems (India) Pvt.Ltd. Telecom Finance [India] Ltd. ULL Securities Pvt.Ltd.

2. Previous year figures have been regrouped where necessary.

3. Loan from others include a sum of Rs.36,50,000 which has been borrowed from Mr.Anil Kumar Khanna Director of the company .


Mar 31, 2014

1. The company has paid advance tax of Rs.1,57,26,775 and the provision for taxation is Rs.96,68,655. The company has filed appeals in relation to various taxation matters before different Appellate Authorities.

2. Previous year figures have been regrouped where necessary.


Mar 31, 2013

1.1 Related Party Disclosure under Accounting Standard 18 Relationship:

Associate Concern

RLF Limited

Saurer Embroidery Systems (India) Pvt.Ltd.

Telecom Finance [India] Ltd.

ULL Securities Pvt. Ltd.

1.2 Related party transactions

Saurer Embroidery Systems Income on building & machinery received. 15,00,000/= (India) Pvt. Ltd.

1.3. Related party closing balances

1.4. Previous year figures have been regrouped where necessary.


Mar 31, 2012

1.1 Related Party Disclosure under Accounting Standard 18

Relationship:

Associate Concern

a) RLF Limited

b) Saurer Embroider Systems (India) Pvt. Ltd.

c) Telecom Finance (India) Ltd.

d) ULL Securities Pvt. Ltd.

1.2 Previous year figures have been regrouped where necessary.


Mar 31, 2011

1. The Company has paid Advance Tax of Rs. 1,65,85,684/= and the provision for Taxation is Rs.96,68,655/=. The company has filed appeals in relation to various Taxation matters before different Appellate Authorities.

2. Related Party Disclosure under Accounting Standard 18

Relationship

1. Associate Concern

a) RLF Limited

b) Saurer Embroidery Systems (India) Pvt.Ltd.

c) Telecom Finance [India] Ltd.

d) ULL Securities Pvt. Ltd.

6. Additional Information (to the extent applicable)

a) Details of Capacity and Production

Class of goods Licensed Capacity Actual Production Installed Capacity Embroidery - Not Applicable -

3. Previous Year Figures have been regrouped where necessary.


Mar 31, 2010

1. Directors Remuneration

Current Year Previous Year

Rs. Rs.

A. Directors Meeting Fee Nil 27,000/=

B. Directors Insurance Premium 1,458/= 1,605/=

2. The Company has paid Advance Tax of Rs. 1,68,28,393/= and the provision for Taxation is Rs.96,68,655/=. The company has filed appeals in relation to variousTaxation matters before different Appellate Authorities.

3. Earnings in Foreign Currency

Current Year Previous Year

Rs. Rs.

Nil Nil

4. Related Party Disclosure under Accounting Standard 18

Relationship

I. Associate Concern

a) RLF Limited

b) Saurer Embroidery Systems (India) Pvt.Ltd.

c) Telecom Finance [India] Ltd.

d) ULL Securities Pvt. Ltd.

2A. Related Party Transactions

Saurer Embroidery Systems Rent on Building & Machinery Reed. 27,00,000/= (India). Ltd.

a) Details of Capacity and Production Class of goods

b) Particulars in respect of Production, Sales, Opening and Closing Stock of goods produced.

5. Additional Information (to the extent applicable)

c) Information in respect of Raw Material Consumed

d) Information in respect of Imported and indigenous material and percentage thereof.

e) CI F Value of Imports

6. Previous Year Figures have been regrouped where necessary.


Mar 31, 2005

1. Other Loans for Rs. 6,04.992/- are secured by Hypothecation Agreement against Plant & Machinery.

2. Contingent Liability of Rs. 1.99 Lacs exists in respect of Sales Tax.

3. The Company has paid Advance Tax of Rs. 1,56,45,042/- and the provision for Taxation is Rs. 96,44,680/-.The company has filed appeals in relation to various Taxation matters before different Appellate Authorities.

4. Related Party Disclosure under Accounting Standard 18 Relationship

1. Associate Concern

a) ULL Securities Pvt. Ltd.

b) Saurer Embroidery Systems (India) Pvt. Ltd.

2. Other Entities

a) Aquarius Travels Pvt. Ltd

b) Asahi Components Ltd.

c) R. K. Khanna & Company


Mar 31, 2004

1. Other Loans for Rs. 18,33,319/- are secured by Hypothecation Agreement against Plant & Machinery.

2. Contingent Liability of Rs. 1.99 Lacs exists in respect of Sales Tax.

3. The Company has paid Advance Tax of Rs. 1,53,96,936/- and the provision for Taxation is Rs. 96,10,592/-. The company has filed appeals in relation to various Taxation matters before different Appellate Authorities.

4. Deferred Tax Assets/Liabilities

The Company has brought forward losses which result in deferred tax assets in view of future years profitability which exceeds the deferred tax liabilities on account of timing difference of depreciation and hence the same is no provided for.

5. Related Party Disclosure under Accounting Standard 18 Relationship

1. Associate Concern

(a) ULL Securities Pvt. Ltd.

(b) Saurer Embroidery Systems (India) Pvt. Ltd.

2. Other Entities

(a) Aquarius Travels Pvt. Ltd.

(b) Asahi Components Ltd.

(c) R. K. Khanna & Company

6. Additional Information (to the extent applicable)

a) Details of Capacity and Production

Class of goods Licensed Capacity Installed Capacity Actual Production

Embroidery - Not Applicable -

e) CIF Valve of Imports Current Year Previous Year

Raw Material Nil Nil

Capital Goods Nil Nil

Components & Spare Parts Nil Nil

Maintenance Machinery Nil Nil


Mar 31, 2003

1 Other Loan for Rs. 20,34,984/- are secured by hypothecation agreement against Plant & Machinery.

2. Contingent Liability of Rs.1.99 Lacs exists in respect of Sales Tax.

3. Additional Depreciation of Rs. 45,00,000/- has been provided during the year on all Leased Assets irrespective of Lease Rentals accruing or not.

4. The Company has paid Advance Tax of Rs.1,56,73,6767- while the provision for Taxation is Rs.96,35,1227-.The Company has filed appeals in relation to various Taxation matters before different Appellate Authorities.

5. Related Party Disclosure under Accounting Standard 18

Relationship

1. Associates Concern

(a) ULL Securities Pvt. Ltd. (b) Saurer Embroidery Systems (India) PVt. Ltd.

2. Other Entities

(a) Aquarius Travels Pvt. Ltd. (b) Asahi Components Ltd. (c) R.K. Khanna & Company

8. Additional Information (to the extent applicable)

a. Details of Capacity and Production

Class of Goods Licensed Installed Actual to be produced Capacity Capacity Production

Embroidery Not Applicable

e.CIF Value of Imports

Raw Material Nil Nil

Capital Goods Nil Nil

Components & Spare Parts Nil Nil

Maintenance Machinery Nil Nil


Mar 31, 2002

1. Loan from Banks are secured by hypothication of assets.

2. Other loans includes a sum of Rs. 1,77,18,382/- on account of write back of secured loans of Punjab National Bank, as per the firm on time settlement (OTS), Sanctioned by the Bank Under the OTS the Company had to pay Rs. Twenty Lacs immediately, and Rs. Seventy Lacs by 30th Sept, 2002. The Company has already paid Rs. Twenty Lacs on 27th June, 2002.

3. Other loans for Rs.27,52,759/- are secured by Hypothecation Agreement against Plant & Machinery.

4. Contingent Liability of Rs.1.99 Lacs exists in respect of Sales Tax.

5. Additional Depreciation of Rs. 1,40,27,177/- has been provided during the year on all leased assets irrespective of lease rentals accruing or not.

6. The Company has paid Advance Tax of Rs. 1,55,48,067/= while the provision for Taxation is Rs.96,00,122/=.The Company has filed appeals in relation to various Taxation matters before different Appellate Authorities.

7. Related Party Disclosure under Accounting Standard 18

Relationship

1. Associates Concern

(a) ULL Securities Pvt. Ltd.

(b) Saurer Embroidery Systems (India) PVt. Ltd.

2. Other Entities

(a) Aquarius Travels Pvt. Ltd.

(b) Asahi Components Ltd.

(c) R.K. Khanna & Company


Mar 31, 2001

1. Loan from Banks are secured by hypothication of assets.

2. Other loans for Rs.51,38,749/= are secured by Hire Purchase Agreement against Plant & Machinery.

3. Contingent Liability of Rs.1.99 Lacs exists in respect of Sales Tax.

4. Depreciation has been charged on leased assets where income is accruing.

5. Prior Period Adjustment represents an adhoc provision of Rs.25 Lac on leased assets where income is not accruing.

6. The Company has paid Advance Tax of Rs.1,62,15,228/= while the provision for Taxation is Rs.96,00,122/=.The Company has filed appeals in relation to various Taxation matters before different Appellate Authorities.

 
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