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Notes to Accounts of UV Boards Ltd.

Mar 31, 2015

1. ADDITIONAL INFORMATION TO FINANCIAL STATEMENT

a) Contingent Liability and Capital e

i) Service Tax demand - Rs.Nil (31.03.2014 - Rs.249,225/-).

ii) The company has extended a corporate gurantee to the extent of Rs.9,30,73,500/- to IOB Singapore for various credit facilities availed by its wholly owned subsidary Elementz Trading PTE Ltd. However Elementz Trading PTE Ltd ceased to be a Subsidiary with effect from 20.02.2015. The company is in the process of withdrawing the bank guarantee.

iii) Capital Commitements net of advances - Nil (31.03.2014 - NIL).

b) Value of Import on CIF basis is Rs.47,19,84,916/- ( 31.03.2014 - Rs.27,41,39,323/-)

c) Earnings in Foreign Currency - Nil ( 31.03.2014 - Nil)

d) Expenditure in Foreign Currency - Nil ( 31.03.2014 - Nil)

e) Amounted remited during the year in foreign exchange on account of dividend for the previous year - Nil

f) Under Micro, Small & Medium Enterprises Development Act 2006, certain disclosures are required to be made relating to such enterprises. In view of the insufficient information from suppliers regarding their coverage under the said Act, no disclosure have been made in the accounts. However, in view of the management the impact of interest if any, that may be payable in accordance with the provisions of the Act is not expected to be material.

2. Related Parties:

I. Wholly Owned Subsidiary Company : ELEMENTZ TRADING PTE LTD - Upto 20.02.2015

Key Management Personal

N.Iyyappan - Whole Time Director

Jitendra Pareek - Whole Time Director

Rasmiranjan Parida - Chief Financial Officer

Priyanka Jain Kucheria - Company Secretary

ii) Consequent to the adoption of Accounting Standard 15 on Employee Benefits as notified by the companies (Accounting Standard) Rules 2006, the following disclosure have been made as required by the standard.

3. The Company has recognized the following amounts in the Profit and Loss Account towards contribution to defined contribution Plans which are included under contribution to provident and other funds:

4. Previous year figures have been regrouped & reclassified wherever necessary.

5. In the opinion of the Board of Directors Current Assets, Loans & Advances have a value on realisation in the ordinary course of business atleast equal to the amount stated.

6. The notes referred to in the Profit & Loss Account and Balance Sheet form an integral part of accounts.


Mar 31, 2014

A) Contingent Liability and Capital Commitments

i) Service Tax demand - Rs.249,225/- (31.03.2013 - Rs.249,225/-) against which company has filed as appeal before Commissionerate of Central Excise (Appeals)

ii) The company has extended a corporate guarantee to the extent of Rs.9,30,73,500/- to M/s. Indian Overseas Bank, Singapore for various credit facilities availed by its wholly owned subsidiary M/s. Elementz Trading Pte Ltd., Singapore.

iii) Capital Commitments - Nil (31.03.2013 - NIL).


Mar 31, 2013

A) Contingent Liability and Capital Commitments

i) Service Tax demand -Rs.2,49,225/-(31.03.2012-Nil) against which company has filed as appeal before Commissioner ate of Central Excise (Appeals)

ii) The company has extended a corporate guarantee to the extent of Rs.8,53,12,500/- to IOB Singapore for various credit facilities availed by its wholly owned subsidiary Elements Trading PTE Ltd.

iii) Capital Commitments-Nil (31.03.2012-Nil).

b) Value of Import on CIF basis is Rs.310,515,653/- (31.03.2012 - Rs.24,85,46,131/-)

c) Earnings in Foreign Currency - Nil ( 31.03.2012 - Nil)

d) Expenditure in Foreign Currency - Nil ( 31.03.2012 - Nil)

e) Amounted remitted during the year in foreign exchange on account of dividend for the previous year - Nil

f) Under Micro, Small & Medium Enterprises Development Act 2006, certain disclosures are required to be made relating to such enterprises. In view of the insufficient information from suppliers regarding their coverage under the said Act, no disclosure have been made in the accounts. However, in view of the management the impact of interest if any, that may be payable in accordance with the provisions of the Act is not expected to be material

g) Related Parties:

Wholly Owned Subsidiary Company : ELEMENTZ TRADING PTE LTD

Key Management Personal N.lyyappan - Whole Time Director

h) Consequent to the adoption of Accounting Standard 15 on Employee Benefits as notified by the companies (Accounting Standard) Rules 2006, the following disclosure have been made as required by the standard.

i) Previous year figures have been regrouped & reclassified wherever necessary.

j) In the opinion of the Board of Directors Current Assets, Loans & Advances have a value on realization in the ordinary course of business At least equal to the amount stated.

k) The notes referred to in the Profit & Loss Account and Balance Sheet form an integral part of accounts.


Mar 31, 2010

1. Previous year figures have been regrouped & reclassified wherever necessary.

2. Estimated amount of contracts remaining to be executed in capital Accounts Net of Advances Rs 10,78,826/- (31.03.2009 Nil)

3.Value of Import on CIF Basis Rs 6,09,18,617/-(31.03.2009 2,01,33,524/-) 10.Earnings in Foreign Currency - NIL 11 .Expenditure in Foreign Currency - NIL

4. Amounts remitted during the year in foreign exchange on account of dividends for the pervious year

NIL

5. Under Micro, Small & Medium enterprises Development Act 2006, Certain disclosures are required to be made relating to such enterprises. In view of the insufficient information from suppliers regarding their coverage under the said act no disclosures have been made in the accounts. However, in view of the management the impact of interest if any, that may be payable in accordance with the provisions of the Act is not expected to be material.

6. Contingent Liability

31.03.2010 31.03.2009

Guarantees issued by the banks on Behalf of the Company Nil Nil



7. In the opinion of the Board of Directors Current Assets, Loans & Advances have a value on realization in the ordinary course of business at least equal to the amount stated.

8. Term Loan from Axis Bank Ltd is primarily secured by First charge on the Fixed assets of the Company. Cash Credit from Axis Bank Ltd is secured by hypothecation of inventories & receivables and Corporate guarantee of M/s.Uniply Industries Ltd.

Loan from Kotak Mahindra Bank Limited, Axis Bank Car loan, Religare finvest & Tata capital is secured by hypothecat ion of respective fixed assets

9. The company has received advance of Rs. 10,000,000/- for sale of agricultural estate and the same has been shown under other liabilities.

10. Related Parties

Key Management Personal

N.lyyappan Director

Related Party Transactions - Directors remuneration to N. lyyappan- Rs.300,000/-

11. Consequent to the adoption of Accounting Standard 15 on Employee Benefits as notified by the Companies (Accounting Standard )Rules 2006, the following disclosers have been made as required by the standard.

12. The Schedules referred to in the Profit & Loss Account and Balance Sheet form an integral part of accounts.

 
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