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Notes to Accounts of Vikram Thermo (India) Ltd.

Mar 31, 2015

1. Segment Reporting

As per the definition of Reportable Segment in accordance with Accounting Standard-17 "Segment Reporting" issued by the Institute of Chartered Accountants of India, the company has only one reportable segment i.e. "Chemicals", hence separate disclosure for segment reporting is not applicable to the company.

2. Contingent Liabilities and Commitments

- Estimated amount net of advance payments for contract remaining to be executed on capital account and not provided for is Rs. 2,50,00,000/- (Previous year Rs.1,77,16,273/-)

3. Previous years figures

The previous year figures have been regrouped / re-classified to conform to the current year's classification whereever is necessary.


Mar 31, 2014

1. Share Capital

a. There is no movement in share capital during the current year and previous year.

b. Details of Equity shares held by shareholders holding more than 5% shares in the Company.

No shareholder holds more than 5% of shares of the Company.

1.1. Working Capital facilities are secured against first charge on entire present and future current assets including entire stock, Book Debts, Loans and Advances And mortgage of Fixed Assets.

2. Segment Reporting

As per the definition of Reportable Segment in accordance with Accounting Standard-17 "Segment Reporting" issued by the Institute of Chartered Accountants of India, the company has only one reportable segment i.e. "Chemicals", hence separate disclosure for segment reporting is not applicable to the company.

3. Contingent Liabilities and Commitments Commitments

- Estimated amount net of advance payments for contract remaining to be executed on capital account and not provided for is Rs.1,77,16,273/- (Previous year Rs.2,16,29,628/-)

- Bills Discounted but not matured NIL (Previous year Rs.24,80,466/-)

4. Previous years figures

The previous year figures have been regrouped / re-classified to conform to the current year''s classification whereever is necessary.


Mar 31, 2013

1. Segment Reporting

As per the definition of Reportable Segment in accordance with Accounting Standard-17 "Segment Reporting" issued by the Institute of Chartered Accountants of India, the Company has only one reportable segment i.e. "Chemicals", hence separate disclosure for segment reporting is not applicable to the Company.

2. Contingent Liabilities and Commitments

Commitments

Estimated amount net of advance payments for contract remaining to be executed on capital account and not provided for is Rs.2,16,29,628/- (Previous year Rs.2,68,12,391/-)

Disputed Income Tax demand of Rs.3,38,980/-.

Bills Discounted but not matured Rs.24,80,466/-

3. Previous years figures

The previous year figures have been regrouped / re-classified to conform to the current year''s classification whereever is necessary.


Mar 31, 2012

A. There is no amounts due and outstanding to be credited to Investor Education and Protection Fund under section 205C of The Companies Act,1956 as at year end.

a. Fixed deposit with banks includes deposits of Rs. 1 Lac (Previous Year Rs. 1 Lac) with maturing of more than 12 months. Fixed deposit with banks also includes deposit of Rs. 3 Lacs (Previous Year 3 Lacs) marked as Margin for Letter of Credit.

1. Segment Reporting

As per the definition of Reportable Segment in accordance with Accounting Standard-17 "Segment Reporting" issued by the Institute of Chartered Accountants of India, the Company has only one reportable segment i.e. "Chemicals", hence separate disclosure for segment reporting is not applicable to the Company.

2. Contingent Liabilities and Commitments Commitments

- Estimated amount net of advance payments for contract remaining to be executed on capital account and not provided for is Rs.2,68,12,391/- (Previous year Rs.38,82,411/-)

- Disputed Income Tax demand of Rs.3,38,980/-.

3. Previous years figures

In view of revision to the Schedule VI issued by Ministry of Corporate Affairs(MCA), the financial statements for the financial year ended 31st March,2012 have been prepared as per the requirements of the Revised Schedule VI.The previous year figures have been accordingly regrouped / re-classified to confirm to the current year's classification.


Mar 31, 2010

(1) Previous years figures have been re-arranged and regrouped where ever necessary to make them comparable with the figures of current year

(2) Estimated amount net of advance payments for contract remaining to be executed on capital account and not provided for is Rs.4391412/- (Previous year Rs. NIL)

(3) Related party disclosure as per Accounting Standard 18 issued bv the Institute Of Chartered Accountants Of India.

I. Related Party & Their Relationship Name Of Related Party

Dr. Chimanbhai K Patel Mr. Dhirajbhai K Patel Mr. Ambalal K. Patel Dr. Dinesh H. Patel Mr. Harjivanbhai K Patel Mr. Ghanshyambhai K Patel Mr. Jaimin C Patel Mr. Alpesh A. Patel Mr. Ankur D. Patel

Nature Of Relationship

Chairman Cum Executive Director

Managing Director - Key Management Personnel

Director Liaison - Key Management Personnel

Director Production & Research - Key Management Personnel

Brother/Father - Key Management Personnel

Brother - Key Management Personnel

Son - Key Management Personnel

Son - Key Management Personnel

Son - Key Management Personnel

(4) As per the definition of Reportable Segment in accordance with Accounting Standard-17 "Segment Reporting" issued by the Institute of Chartered Accountants of India, the company has only one reportable segment i.e. "Chemicals", hence separate disclosure for segment reporting is not applicable to the company.

(5) During the year foreign exchange amounting US $ NIL i.e.Rs. NIL(Prev. YearUS$463 i.e.Rs.24136/-) is spent on R & D Chemical expense. & US$ 6451/ -i.e. Rs.303650/- (Previous Year US$ 16822/- amounting Rs.718880/-) on Sales Commission.

(6) During the year foreign exchange amounting to Rs. 89,00,302 - ( Prev. Year 1,06,16,794/-) is remitted for import of raw materials on CIF basis.

(7) During the year company has earned foreign exchange of US $1,92,249/-( Previous Year US$ 1,23,375/-) amounting Rs85,48,271/-(Previous year Rs.50,92,456/-) on FOB basis against export sales.

(8) During the year company has remitted US $ 270.67 ( Previous Year US$ 519.50/-)amounting to Rs12800/- (Previous year Rs.25,350/-)as dividend to non resident shareholders.

(9) Disclosure required by AS 29 Provisions, Contingent Liabilities and Contingent Assets : Movements in Provisions ( Figures in brackets are in respect of the previous year).



Particulars As at 31-3-09 Addition

Income Tax Provision 1,483,000 7,730,000

(11,500,000) (10,229,368)

Wealthtax Provision (4,105) -

- (4,105)

Provision For FBT 2078 -

(41,588) (99,498)

Proposed Dividend 5582570 5,582,570

(8,373,855) (5,582,570)

Provision For Div. tax 948758 948,758

(1,423,137) (948,758)

Prov For Doubtful Debts 11,682,713 5,372

(6,749,245) (4,933,468)



(Figures in brackets are in respect of the previous year)

Particulars Utililised Reversed As at 31-3-10

Income Tax Provision 1,483,000 - 7,730,000

(20,246,368) - (1,483,000)

Wealthtax Provision - (4,105)

- (4,105)

Provision For FBT 2,078 -

(139,008) - (2,078)

Proposed Dividend 5,582,570 - 5,582,570

(8,373,855) - (5,582,570)

Provision For Div. tax 948,758 - 948,758

(1,423,137) - (948,758)

Prov For Doubtful Debts 6,177,937 - 5,510,148

- - (11,682,713)

 
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