Mar 31, 2015
1. Related Party transactions
A. Companies/firms with which the company had transactions during the
year.
1 M/s. Veejay Sales and Services Limited
2 M/s. Veejay marketing
3 M/s. Augustan Coimbatore Knitting Company Limited
4 M/s. Veejay Terry Products Limited
5 M/s. Veejay Tool & Die Private Limited
6 M/s. Veejay Yarns & Fabrics Private Limited
7 M/s. Veejay Syntex Private Limited
Necessary approvals have been taken/applied from the Central Government
for the transactions with the above parties and no contract is
detrimental to the interest of the company.
B. Companies/firms with which the Company had no transactions during
the year.
1 M/s. The Krishna Mills Private Limited
2 M/s. Deluxe Marketing
3 M/s. Deluxe Components
4 M/s. Samrajyaa & Co
5 M/s. Prathishta Weaving & Knitting Co. Ltd
6 M/s. Augustan Knit Wear Pvt. Ltd.
7 M/s. Augustan Textile Colors Limited
8 M/s. Lakshmi Precision Tools Limited
9 M/s. Ranba Castings Limited
10 M/s. The Suguna Mills Private Limited.
11 M/s. Magna Electro Castings Limited
c. Name of the Key Managerial Personnel
1 Sri. V.J. Jayaraman, Chairman cum Managing Director
2 Sri. J. Anand, Managing Director
3 Sri. D. Ranganathan, Whole Time Director (Finance & Marketing)
d. relatives of the Key Managerial Personnel
1 Smt. J. Vidya W/o Sri. V.J. Jayaraman
2 Smt. Arthi Anand W/o Sri. J. Anand
2. As defined under Micro, small and Medium Enterprises Development Act
2006, the disclosure in respect of the amount payable to such
enterprises as at 31.03.2015 has been made in the financial statements
based on information received and available with the company.
3. Figures have been rounded off to Rs. in Lakhs and previous year
figures have been regrouped/ rearranged wherever necessary. Previous
year figures are not comparable in view of amalgamation of subsidiary
company in the current year.
Mar 31, 2013
1. contingent Liabilities and commitments
1. contingent Liabilities
a. Claims against the Company not acknowledged as Debts
i. Income tax Liability on expenses
disallowed/additions 1.30 66.16
proposed disputed in appeals
ii. Amounts claimed by Excise and Service
Tax authorities 28.16 28.89
b. Guarantees
Guarantees issued by Banks on behalf
of the Company 589.70 901.74
Guarantee issued on behalf of an
associate Company in 345.00
which Directors are interested
Guarantees given on behalf of the
Directors or other offcers
of the Company
Credit facilities of Subsidiary
guaranteed by the Company- 1,528.89 2,046.28
outstanding-both fund based and
non fund based
Letter of Credit opened by Banks
on behalf of the Company 87.53 76.26
c. Other money for which Company
is contingently liable
i. Duty Liability and interest on
account of pending export
Obligation against EPCG Licences
ii. Duty Liability against Advances
Licences for Deemed 72.21
Exports
2. commitments
a. Estimated amount of contracts
remaining to be executed on 158.99 137.99
capital account and not provided for
b. Uncalled liability on shares and
investments partly paid Nil Nil
2. As defined under Micro, small and Medium Enterprises Development
Act 2006, the disclosure in respect of the amount payable to such
enterprises as at 31.03.2013 is given below based on information
received and available with the company.
3. Figures have been rounded off to Rs. in lakhs and previous year
fgures have been regrouped/ rearranged wherever necessary.
Mar 31, 2012
1. contingent Liabilities
a. claims against the company not acknowledged as debts
i. Income tax Liability on expenses
disallowed/additions 66.16 88.55
proposed disputed in appeals
ii. Amounts claimed by Customs,
Excise and Market 28.89 22.13
committee authorities disputed
in appeals
b. Guarantees
Guarantees issued by Banks on behalf of
the Company 901.74 654.00
Guarantee issued on behalf of an
associate Company in 345.00 486.00
which Directors are interested
Guarantees given on behalf of the
Directors or other officers Nil Nil
of the Company
A. companies / firms with which the company had transactions during the
year.
s.No. Name of the company / firm
1 M/s. Veejay Lakshmi Textiles Limited
2 M/s. Veejay Sales and Services Limited
3 M/s. Veejay Terry Products Limited
4 M/s. Veejay Marketing
5 M/s. Veejay Syntex Private Limited
6 M/s. Veejay Yarns & Fabrics Private Limited
Necessary approvals have been taken/applied from the Central Government
for the transactions with the above parties and no contract is
detrimental to the interest of the company.
B. companies/firms with which the company had no transactions during the
year.
1. M/s. Lakshmi Electrical Control Systems Limited
2. M/s. The Krishna Mills Private Limited
3. M/s. Lakshmi Precision Tools Limited
4. M/s. Deluxe Marketing
5. M/s. Deluxe Components
6. M/s. Ranba Castings Limited
7. M/s. Samrajyaa & Co
8. M/s. The Suguna Mills Private Limited.
9. M/s. Magna Electro Castings Limited
10. M/s. Prathishta Weaving & Knitting Co. Ltd
11. M/s. Augustan Knit Wear Pvt. Ltd.
12. M/s. Augustan Textile Colors Limited
13. M/s. Augustan Coimbatore Knitting Company Limited
14. M/s. Kovai Medical Centre and Hospitals Pvt. Ltd.
15. M/s. Veejay Tool & Die Private Limited
C. Name of the Wholly owned subsidiary company
1. M/s. Veejay Lakshmi Textiles Limited
D. Name of the Key Managerial Personnel
1. Sri. V.J. Jayaraman, Chairman cum Managing Director
2. Sri. J. Anand, Managing Director
3. Sri. D. Ranganathan, Whole Time Director
E. relatives of the Key Managerial Personnel
1. Smt. J. Vidya W/o Sri. V.J. Jayaraman
2. Smt. Arthi Anand W/o Sri. J.
Mar 31, 2011
The products manufactured by the Company do not require any industrial
license as per the current industrial policy and hence there is no
restriction on the maximum capacity that the Company can produce. The
installed capacity also vanes depending on the level of subcontracting
work and outsourcing of components. Hence the data on licensed and
installed capacities has not been furnished.
1. Contingent Liabilities and Claims not 31-3-2011 31-3-2010
acknowledged as Debts Rs,in Lakhs Rs.in Lakhs
a. Duty liability and interest on account
of pending export obligation against EPCG
Licences 110.20 94.14
b. Income tax Liability on expenses
disallowed/addtions proposed disputed
in appeals 88.55 98.55
c. Amounts claimed by Customs, Excise and
Market committee authorities disputed in
appeals 22.13 9.24
d. Claims from Debtors, Creditors and
Workmen not acknowledged as debts including
interest Nil 89.53
e. Guarantees given on behalf of the
Directors or other officers of the Company Nil Nil
f.Guarantees issued by Banks on behalf of
the Company 654.00 173.33
g.Letter of Credit opened by Banks on behalf
of the Company 489.00 285.88
h.Guarantee issued on behalf of an associate
Company in which Directors are interested 486.00 413.00
i.Estimated amount of contracts remaining to
be executed on capital account and not
provided for 169.46 24.42
j.Credit facilities of Subsidiary guaranteed
by the Company-outstanding-both fund based
and non fund based 2487.00 2347.00
k. Duty Liability against Advances Licences
for Deemed Exports-Export obligation
fulfilled by physical export but not
accepted by Govt. 60.83 56.27
2. RELATED PARTY DISCLOSURES FOR THE YEAR ENDED 31.03.2011
There are no doubtful debts from the above parties on the balance sheet
date and no amount has been written off or written back from the above
parties during the year.
Names of associate companies and firms (Companies and firms in which
the directors are associated as directors/partners or proprietors)
A. Companies / firms with which the Company had transactions during the
year.
1 M/s. Veejay Lakshmi Textiles Limited
2 M/s. Veejay Sales and Services Limited
3 M/s. Veejay Terry Products Limited
4 M/s. Veejay Marketing
5 M/s. Veejay Syntex Private Limited
6 M/s. Veejay Tool & Die Private Limited
7 M/s. Veejay Yarns & Fabrics Private Limited
Necessary approvals have been taken/applied from the Central Government
for the transactions with the above parties and no contract is
detrimental to the interest of the company.
B. Companies/firms with which the Company had no transactions during
the year.
1. M/s. Lakshmi Electrical Control Systems Limited
2. M/s. The Krishna Milis Private Limited
3. M/s. Lakshmi Precision Tools Limited
4. M/s. Deluxe Marketing
5. M/s. Deluxe Components
6. M/s. Ranba Castings Limited
7. M/s. Samrajyaa & Co
8. M/s. The Suguna Mills Private Limited.
9. M/s. Magna Electro Castings Limited
10. M/s. Prathishta Weaving & Knitting Co. Ltd
11. M/s. Augustan Knit Wear Pvt. Ltd,
12. M/s. Augustan Texiile Colors Limited
13. M/s. Augustan Colmbatore Knitting Company Limited
14. M/s. Kovai Medical Centre and Hospitals Pvt. Ltd.
C. Name of the Wholly Owned Subsidiary Company
1. M/s. Veejay Lakshmi Textiles Limited
D. Name of the Key Managerial Personnel
1. Sri. V.J. Jayaraman, Chairman cum Managing Director
2. Sri. J. Anand, Managing Director
3. Sri. D. Ranganathan, Whole Time Director (Finance & Marketing)
E. Relatives of the Key Managerial Personnel
1. Smt. J. Vidya W/o Sri. V.J. Jayaraman
2. Smt. Arthi Anand W/o Sri. J. Anand
3. The Company has no sole selling agents. The entire sales
commission has been paid to other agents.
4. Dues to MSME-As on 31.3.2011-{Based on information available with
the Company about the status of the suppliers. Very few suppliers have
intimated the Company about their status as Micro or Small enterprises)
- Rs. 6.78 lakhs (Previous year Rs. 33.64 lakhs)
5. Provision for Provident Fund included in Current Liabilities - Rs.
3.53 lakhs (Previous year - NIL)
6. Figures have been rounded off to the nearest rupee and previous
year figures have been regrouped/rearranged wherever necessary..
Mar 31, 2010
1. The Company has imported capital goods under EPCG Licence and also
Raw material and Components free of duty against Advance Licenses with
an obligation for exports. The duty liability proportionate to export
obligation pending as at 31.3.2010 including interest (net of Cenvat
credit) is Rs. 94.14 lakhs (Previous year Rs. 81.29 lakhs)
2. Contingent Liabilities and claims against the company not
acknowledged as debts.
a. Income tax liability on disallowance of expenses/additions proposed
to income for completed assessments and disputed in appeals-Rs.98.55
lakhs (previous year Rs. 10 lakhs).
b. The amounts claimed by the Customs and Central Excise and Market
Committee authorities, which has been disputed by the Company and
pending in appeals at various levels is Rs.9.24 Lakhs. (Rs. 11.30
lakhs)
c. Other claims from debtors, Creditors & workmen not acknowledged as
debts 125.52 lakhs (excl. interest)(previous year Rs.89.53 lakhs)
d. Guarantees given on behalf of Directors or other officers of the
Company - NIL Previous year Nil
e. Guarantees executed By Banks - Rs.173.33 lakhs (Rs. 495.95 lakhs)
f. Letters of Credit opened by Banks - Rs.285.88 lakhs (Rs. 0.64
lakhs)
g. Guarantee issued on behalf of an associate Company in which
Directors are interested. Rs. 418.00 lakhs (Rs. 418.00 lakhs)
h. Estimated amount of capital contracts remaining to be executed for
which orders have been already released is Rs. 24.42 (Previous year Rs.
Nil )
i. Proportionate duty liability for pending export obligation of the
subsidiary for which corporate guarantee has been given by the
Company-Rs. Nil (Previous year 9.57 lakhs)
3. Research and Development expenses incurred during the year is Rs.
82.49 lakhs. (Previous year Rs. 189.59 lakhs)
4. As at 31st March 2010, no supplier has intimated the Company about
its status as Micro or Small enterprises or its registration with the
appropriate authority under the Micro, Small and Medium Enterprises
Development Act, 2006.
A. Companies / firms with which the Company had transactions during the
year.
1 M/s. Veejay Lakshmi Textiles Limited
2 M/s. Veejay Sales and Services Limited
3 M/s. Veejay Terry products Limited
4 M/s. Veejay marketing
5 M/s. Veejay Syntex Private Limited
6 M/s. Veejay Tool & Die Private Limited
7 M/s. Veejay Yarns & Fabrics Private Limited
Necessary approvals have been taken/applied from the Central Government
for the transactions with the above parties and no contract is
detrimental to the interest of the Company.
B. Companies/firms with which the Company had no transactions during
the year.
1. M/s. Lakshmi Electrical Control Systems Limited
2. M/s. The Krishna Mills Private Limited
3. M/s. Lakshmi Precision Tools Limited
4. M/s. Deluxe Marketing
5. M/s. Deluxe Components
6. M/s. Ranba Castings Limited
7. M/s. Samrajyaa & Co
8. M/s. The Suguna Mills Private Limited
9. M/s. Magna Electro Castings Limited
10. M/s. Prathishta Weaving & Knitting Co. Ltd
11. M/s. Augustan Knit Wear Pvt. Ltd
12. M/s. Augustan Textile Colors Limited
13. M/s. Augustan Coimbatore Knitting Company Limited
14. M/s. Kovai Medical Centre and Hospitals Pvt. Ltd.
C. Name of the Wholly Owned Subsidiary Company
1. Veejay Lakshmi Textiles Limited
D. Name of the Key Managerial Personnel
1. Sri. V.J. Jayaraman, Chairman cum Managing Director
2. Sri. J. Anand, Managing Director
3. Sri. D. Ranganathan, Whole Time Director (Finance & Marketing)
E. Relatives of the Key Managerial Personnel
1. Smt. J. Vidya W/o Sri. V.J. Jayaraman
2. Smt. Arthi Anand W/o Sri. J. Anand
5. The Company has no sole selling agents. The entire sales
commission has been paid to other agents.
6. Provision for Provident Fund included in current liabilities Rs.
Nil (Previous Year Nil)
7. Debts due from Companies under the same management (other than the
subsidiary) is Rs. Nil.
(previous year Rs. Nil)
8. Debts due by Directors or other officers of the Company or any of
them either severally or jointly with any other person or debts due by
firms or private Companies respectively in which any Director is a
partner or a Director or a Member is Rs. 0.50 lakhs.(Previous year 0.65
lakhs)
9. There was no amount due by Directors or other officers of the
Company at any time during the year. (Previous year Nil)
10. Sundry Debtors and Loans and Advances as at 31.03.2010 does not
include any amount due from Companies and Firms in which Directors are
interested other than the amounts mentioned in items 20 and 22.
(Previous year Nil)
11. Figures have been rounded off to the nearest rupee and previous
year figures have been regrouped/rearranged wherever necessary.