Mar 31, 2014
1. Contingent Liabilities not provided for being guarantee issued by
the Bank on behalf of the Company of Rs.11.55,000/- ( Previous year-
Rs.11,55,000/- )
2. Debit and Credit Balances in the accounts of various parties are
subject to confirmation by the parties.
3. Previous year''s figures have been regrouped / reclassified wherever
necessary to correspond with current year''s classification /
disclosure.
4. Interest accrued on a loan of Rs. 25.00 Lacs advanced to a company
has not been provided as the cheque for interest as well as of
principal amount were dishonored. The company has filed complaint under
Negotiable Instruments Act. Out of loan of Rs.25.00 Lacs Rs. 8.50 Lacs
have already been received.
Mar 31, 2013
1.1 Detail of security for term loans borrowings
Term Loans borrowings from SIDBI is secured by way of hypothecation of
machinery & first charge by way of equitable mortgage of Land &
Building measuring 357.77 sq. yards situated at ludhiana.
by way of equitable mortgage of Land & Building measuring 357.77 sq.
yards situated at ludhiana.
Term Loans borrowings from HDFC Bank Ltd. is secured by way of
hypothecation by way of first charge on plant & machinery
Terms of repayment of Term Loans
Term Loans borrowings from SIDBI are repayable in 72 installments of Rs.
219490/- each and carries interest @ 9.75% P.A. and the last repayment
is due on dated 09/06/2016
Term Loans borrowings from HDFC Bank Ltd. are repayable in 63
installments of Rs. 86,568/- each and carries interest @ 11.75% P.A. and
the last repayment is due on dated 07/06/2016
1.2 Detail of security for working capital borrowings
Working capital borrowings from banks are secured against hypothecation
by way of first charge on company''s stock, book debts and plant &
machinery.
Terms of repayment of loans repayable on demand
Working capital borrowings from banks are repayable on demand and
carries interest @ 10% to 13.30% as may be communicated by the bank
from time to time Term loans borrowings are repayable in suitable
installments From Related parties carries interest @ 6% P.A.
2 Balances with bank includes deposits amounting to Rs. 46,55,000/-
(Previous year Rs.11,55,000/-) which have original maturity period of
more than 12 months.
3 Fixed deposits amounting to Rs. 11,55000/- (Previous year Rs.
11,55,000/-) are under lien of the bank for guarantees given to the
President of India through Asset Commissioner of Customs, Ludhiana on
behalf of the company.
4 Contingent Liabilities not provided for being guarantee issued by
the Bank on behalf of the Company of Rs.11,55,000/- (Previous year-
Rs.11,55,000/-)
5 Debit and Credit Balances in the accounts of various parties are
subject to confirmation by the parties.
6 Previous year''s figures have been regrouped I reclassified
wherever necessary to correspond with current year''s classification /
disclosure.
7 Interest accrued on a loan of Rs. 25.00 Lacs advanced to a company
has not been provided as the cheque for interest as well as of
principal amount were dishonored. The company has filed complaint under
Negotiable Instruments Act. Out of loan of Rs.25.00 Lacs Rs. 8.50 Lacs
have already been received.
Mar 31, 2012
1.1 Detail of security for term loans borrowings
Term Loans borrowings from SIDBI is secured by way of hypothecation of
machinery & first charge by way of equitable mortgage of Land &
Building measuring 357.77 sq.yards situated at ludhiana. Term Loans
borrowings from HDFC Bank Ltd. is secured by way of hypothecation by
way of first charge on plant & machinery
Terms of repayment of Term Loans
Term Loans borrowings from SIDBI are repayable in 72 instalments of Rs.
219490/- each and carries interest @ 9.75% P.A. and the last repayment
is due on dated 09/06/2016
Term Loans borrowings from HDFC Bank Ltd. are repayable in 63
instalments of Rs. 86,568/- each and carries interest @11.75% P.A. and
the last repayment is due on dated 07/06/2016
2.1 Detail of security for working capital borrowings
Working capital borrowings from banks are secured against hypothecation
by way of first charge on company''s stock, book debts and plant &
machinery.
Terms of repayment of loans repayable on demand
Working capital borrowings from banks are repayable on demand and
carries interest @ 10% to 13.30% as riiay be communicated by the bank
from time to time Term loans borrowings are repayable in suitable
instalments From Related parties carries interest @ 6% P.A.
3.1 Balances with bank includes deposits amounting to Rs. 11,55,000/-
(Previous year Rs. 13,85,000/-) which have original maturity period of
more than 12 months.
3.2 Fixed deposits amounting to Rs. 11,55000/- (Previous year Rs.
13,85,000/-) are under lien of the bank for guarantees given to the
President of India through Asstt. Commissioner of Customs, Ludhiana on
behalf of the company.
4 Contingent Liabilities not provided for being guarantee issued by
the Bank on behalf of the Company of Rs.11,55,000/- ( Previous year-
Rs. 13,85,000/-)
5 Debit and Credit Balances in the accounts of various parties are
subject to confirmation by the parties.
6 The Revised Schedule VI has become affective from 1st April 2012 for
preparation of financial statements. This has significantly impacted
the disclosure and presentation made in the financial statements.
Previous year''s figures have been regrouped / reclassified wherever
necessary to correspond with current year''s classification /
disclosure.
7 Interest accrued on a loan of Rs. 25.00 Lacs advanced to a company
has not been provided as the cheque for interest as well as of
principal amount were dishonored. The company has filed complaint under
Negotiable Instruments Act. Out of loan of Rs.25.00 Lacs Rs. 8.50 Lacs
have already been received.
Mar 31, 2011
1. Contingent Liabilities not provided for being guarantee issued by
the Bank on behalf of the Company of Rs. 13,85,000/- ( Previous year-
Rs. 13,85,000/-)
2. Investment & Loans & Advances includes amount due from:
a) The Companies in which Managing Director is interested as a
Director. York Oil & Fats Pvt. Ltd. Share Application Money Rs. 42,
11,560/- (Previous year Rs. 42, 11,560/-)
3. Debit and Credit Balances in the accounts of various parties are
subject to confirmation by the parties.
4. Previous year figures have been regrouped / recanted wherever
necessary to make them comparable with current year.
6. The amount of Insurance claims received during the year has been
credited to respective heads of expenditure.
7. Interest accrued on a loan of Rs. 25.00 Lacs advanced to a company
has not been provided as the cherub for interest as well as of
principal amount were dishonored. The company has filed complaint under
Negotiable Instruments Act and the matter is subjudice. Out of loan of
Rs. 25 Lacs, Rs. 8.50 Lacs have already been received.
8. The arrears of depreciation not provided for amounting to
Rs.6,35,014/- pertains to the year ended 31-03-97.
9. No provision has been made for Income-Tax demand of assessment year
1994-1995 Amounting to Rs. 33,12,490/- as the same is being disputed by
the company in appeal, in Delhi High Court.
10. Taxes on Income
(a) Deferred Taxes:- However, in view of present uncertainty regarding
generation of sufficient future income, net deferred tax assets as at
the yearend including related credits/charge for the year have not
been recognized on prudent basis.
(b) Current Taxes. Provision for Current tax has been made according to
the normal provisions of the Income Tax Act, 1961 which includes
education cess.
12. There are no dues of Micro and Small Enterprises as at 31s,.March,
2011.This information is required to be disclosed under Micro Small &
Medium Enterprises Development Act, 2006 and has been determined to the
extent such parties have been identified on the basis of information
available with the company.
13. Additional information pursuant to the provisions of paragraph 3,
4, 4C and 4D of Part II and part IV of Schedule VI to the Companies
Act, 1956 is given in Annexure I & II to this Schedule
14 Schedules ''A to P'' and Annexure I & II hereto form an integral part
of the statement of account for the year 31st March 2011.
15 Interest amounting to Rs.32976/- paid on funds borrowed from HDFC
Bank Limited for acquisition of machinery has been capitalized till
its installation and putting to use.
Mar 31, 2010
1. Contingent Liabilities not by the Bank on behalf of the Company of Rs,
13,85.000/- { Previous year
2. Share Application Money Rs. 42. 11.560/- (Previous year Rs, 42,
11,560/-)
3.Debit and Credit Balances m the accounts of various parties are
subject to confirmation by the parties
- Previous year figures have been regrouped / recanted wherever
necessary to make them comparable
4. The amount of insurance claims received during the year has been
credited to respective heads of expenditure.
5. Interest accrued on a loan to Rs 25 00 Lacs advanced to a company has
not been provided as the cheque for interest as were as of principal
amount were dishonored. The company has filed complaint under Negotiate
instruments Act and the matter is subjudice. Out of loan of Rs. 25
Lacs, Rs. 8.50 Lacs have already been received.
6. The arrears of depreciation not provided for amounting to
Rs.6,35,014/- pertains to the year ended
7. No provision has been made for income- Tax demand of assessment year
1994-1995 Amounting to Rs 33,12,490/- as the same iz being disputed by
the company in appeal, in Delhi High Court.
8 Taxes on Income
(a) Deferred Taxes:- However, in view of present uncertainty regarding
generation of sufficient future income net deferred tax assets as at
the yearend including related credits/charge for the year have not
been recognized on prudent basis
9) Provision for Current tax has been made according to
the normal provisions of the income tax Act. 1961 which includes
education cess.
10. There are no dues of Micro and Small Enterprises as at 31st March
2010 This information is required to be disclosed under Micro Small &
Medium Enterprises Development Act,2006 and has been determined to the
extent such parties have been identified on the basis of information
available with the company.
11. Additional information pursuant to the provisions of paragraph 3.4
4C and 4D of Part II and part IV of Schedule VI to the Companies Act,
1956 is given in Annexure I & II to this Schedule. 14. Schedules ''A to
P* and Annexure I & II hereto form an integral part of the statement of
account for the year ended 31st March, 2010 15 Interest amounting to
Rs.317292/-paid on funds borrowed from SIDBI for acquisition of
machinery has been capitalized till its installation and putting to
use.
Mar 31, 2009
1. Contingent Liabilities not provided for being guarantee issued by
the Bank on behalf of the Company of Rs.4,30,000/- ( Previous year-
Rs.Nil)
2. Investment & Loans & Advances includes amount due from:
a) The Companies in which Managing Director is interested as a
Director. York Oil & Fats Limited Share Application Money Rs. 42,
11,560/- (Previous year Rs. 42, 11,560/-)
3. Debit and Credit Balances in the accounts of various parties are
subject to confirmation by the parties.
4. Previous year figures have been regrouped / recasted wherever
necessary to make them comparable with current year.
5. The amount of Insurance claims received during the year has been
credited to respective heads of expenditure.
6. Interest accrued on a loan of Rs. 25.00 Lacs advanced to a company
has not been provided as the cheque for interest as well as of
principal amount were dishonored. The company has filed complaint under
Negotiable Instruments Act and the matter is subjudice. Out of Rs. 25
Lacs, Rs. 8.50 Lacs have already been received.
7. The arrears of depreciation not provided for amounting to
Rs.6,35,014/- pertains to the year ended 31-03-97.
8. No provision has been made for Income- Tax demand of assessment
year 1994-1995 Amounting to Rs. 33,12,490/- as the same is being
disputed by the company in appeal, in Delhi High Court.
9. Taxes on Income
(a) Deferred Taxes:- However, in view of present uncertainty regarding
generation of sufficient future income, net deferred tax assets as at
the year end including related credits/charge for the year have not
been recognised on prudent basis.
(b) Current Taxes: Provision for Current tax has been made according to
the normal provisions of the Income Tax Act, 1961 which includes
education cess.
10. There are no dues of Micro and Small Enterprises as at
31st March 2010.This information is required to be disclosed under Micro
Small & Medium Enterprises Development Act.2006 and has been determined
to the extent such parties have been identified on the basis of
information available with the company.
11. Additional information pursuant to the provisions of paragraph
3.4.4C and 4D of Part II and part IV of Schedule VI to the Companies
Act, 1956 is given in Annexure I & II to this Schedule.
12. Schedules A to P and Annexure I & II hereto form an integral
part of the statement of account for the year ended 31 * March 2009