Mar 31, 2018
1. During the five reporting periods immediately preceding the reporting date, no shares have been issued by capitalization of reserves as bonus shares or for Consideration other than cash.
2. The Company has a single class of equity shares. Accordingly all equity shares rank equally with regard to voting rights, dividends and share in the Companyâs residual assets.
Notes:
3. Long Term Loans From Banks were taken for the purchase of new wind mills and these loans are required to be repaid before July 2023.
4. Loan from Directors have been brought in pursuant to the terms of sanction of Loans by Bankers and retained as unsecured loans.
5. Income Tax assessments have been completed up to the Assessment Year 2015 -2016.
6. The Company declared Dividend at Rs.2 per Equity share for the year ending March 2018. The Total Dividend payable for 6750000 Equity shares comes to Rs.13500000/ - and tax payable on this amounts to Rs.2748282/- .
7. As at the end of the year, the Company does not have small-scale industries as defined by Section 3-J of the Industries (Development and Regulation) Act, 1951 and to whom more than Rs. 1.00 lakh is due and also for more than 30 days. Hence, the provision of interest does not arise. There were no overdue payments to Micro, Small and Medium scale enterprises during the year and there is no amount overdue as on the date of the Balance Sheet to such enterprises.
8. Sundry debtors which are overdue for a period of 6 months and more include a sum Rs.32.68 lakhs (Rs.32.72 lakhs) for which the Company has taken legal action and is hopeful of recovery. Provision has been made for Rs.32.84 Lakhs for Doubtful Debtors.
9. Depreciation has been calculated according to Schedule II of the Companies Act, 2013 as amended on straight-line method.
10. The Company has received a demand towards additional Electricity tax amounting to Rs.26.42 lakhs from TNEB against which the Company has gone on appeal to the Honourable High Court of Madras. The Company has not paid this amount due to dispute. No provision has been made in the accounts, pending disposal of appeal by the Honourable High Court of Madras.
11. Previous year figures have been regrouped and reclassified wherever necessary to conform to current yearâs classification.
I. Segment-wise Reporting:
The Company is engaged mainly in the manufacture of yarn. The Company owns thirteen wind mills mainly for captive consumption purpose only. During the year the value of power generated through these mills is Rs. 12,94,42,280.00 (21099028 units) and this is adjusted with the power cost of the Company. The processing division is operating mainly for captive utilization and hence segment- wise reporting as defined in Accounting Standard 17 is not required.
II. Deferred Tax Assets / Liability:
Deferred tax provision for the current year has been credited to the profit and loss account for the year. The Balance of deferred Tax liability is being disclosed as a liability. Deferred Taxation Liability on account of Timing Difference : (Rs.)
III. Employee Benefits: AS-15:
Provident Fund Contribution:
During the year the Company has contributed Rs.2004529/- to Government Provident fund. The Company does not have a separate exempted provident fund.
Gratuity:
As per the records of the Company none of the employees come under the purview of Payment of Gratuity Act.
With regard to other terminal benefits payable to employees the Company makes a payment of such benefits every year and hence no provision is required.
Mar 31, 2016
1 Income Tax assessments have been completed up to the Assessment Year 20132014.
2 The Company has opted the exemption route vide Central Excise Notification No.30/ 2004 and 31/2004 dated 09.07.2004.
3 As at the end of the year, the Company does not have small-scale industries as defined by Section 3-J of the Industries (Development and Regulation) Act, 1951 and to whom more than Rs. 1.00 lakh is due and also for more than 30 days. Hence, the provision of interest does not arise. There were no overdue payments to Micro, Small and Medium scale enterprises during the year and there is no amount overdue as on the date of the Balance Sheet to such enterprises.
4 Sundry debtors which are overdue for a period of 6 months and more include a sum Rs.32.34 lakhs (Rs.31.44 lakhs) for which the Company has taken legal action and is hopeful of recovery. Provision has been made for Rs.32.84 Lakhs for Doubtful Debtors.
5 Depreciation has been calculated according to Schedule II of the Companies Act, 2013 as amended on straight-line method.
6 The Company has received a demand towards additional Electricity tax amounting to Rs.15.79 lakhs from TNEB against which the Company has gone on appeal to the Honourable High Court of Madras. The Company has not paid this amount due to dispute. No provision has been made in the accounts, pending disposal of appeal by the Honourable High Court of Madras.
7 Previous year figures have been regrouped and reclassified wherever necessary to conform to current yearâs classification.
I. Segment-wise Reporting:
The Company is engaged mainly in the manufacture of yarn. The Company owns Eleven wind mills mainly for captive consumption purpose only. During the year the value of power generated through these mills is Rs. 15,77,98,461.00 (23981529 units) and this is adjusted with the power cost of the Company. The processing division is operating mainly for captive utilization and hence segment- wise reporting as defined in Accounting Standard 17 is not required.
II. Deferred Tax Assets / Liability:
Deferred tax provision for the current year has been credited to the profit and loss account for the year. The Balance of deferred Tax liability is being disclosed as a liability.
III. Employee Benefits: AS-15:
a) Provident Fund Contribution:
During the year the Company has contributed Rs.2894844/- to Government Provident fund. The Company does not have a separate exempted provident fund.
b) Gratuity:
As per the records of the Company none of the employees come under the purview of Payment of Gratuity Act.
c) With regard to other terminal benefits payable to employees the Company makes a payment of such benefits every year and hence no provision is required.
Mar 31, 2015
1.During the five reporting periods immediately preceding the
reporting date, no shares have been issued by capitalization of
reserves as bonus shares or for Consideration other than cash.
2. The Company has a single class of equity shares. Accordingly all
equity shares rank equally with regard to voting rights, dividends and
share in the Company's residual assets.
3. Loan from Directors:
These amounts have been brought in pursuant to the terms of sanction of
Loans by Bankers and retained as unsecured loans.
4. Interest Free Sales Tax Loan:
The Company started to pay this loan from 2006 and will have to pay the
loan fully within the year 2015-16.
5. CONTINGENT LIABILITIES :
a) Bills discounted NIL NIL
b) Estimated amount of contracts
remaining to be executed on capital
account and not provided for (net of Advances) Nil 5.00
6. Income Tax assessments have been completed up to the Assessment
Year 2012- 2013.
7. The Company has opted the exemption route vide Central Excise
Notification No.30/2004 and 31/2004 dated 09.07.2004.
8. As at the end of the year, the Company does not have small-scale
industries as defined by Section 3-J of the Industries (Development and
Regulation) Act, 1951 and to whom more than Rs. 1.00 lac is due and
also for more than 30 days. Hence, the provision of interest does not
arise. There were no overdue payments to Micro, Small and Medium scale
enterprises during the year and there is no amount overdue as on the
date of the Balance Sheet to such enterprises.
9. Sundry debtors which are overdue for a period of 6 months and more
include a sum Rs.31.44 lacs (Rs.32.82 lacs) for which the Company has
taken legal action and is hopeful of recovery. Provision has been made
for Rs.32.84 Lacs for Doubtful Debtors.
10. Depreciation has been calculated according to Schedule II of the
Companies Act, 2013 as amended on straight-line method.
11. The Company has received a demand towards Peak Hour Electricity
charges amounting to Rs.55.26 lacs from TNEB against which the Company
has gone on appeal to the Honourable High Court of Madras. The Company
has paid this amount "Under Protest". This amount has not been debited
to the Profit & Loss account nor any provision made in the accounts,
pending disposal of appeal by the Honourable High Court of Madras.
12. Previous year figures have been regrouped and reclassified
wherever necessary to conform to current year's classification.
Mar 31, 2014
1.1 CONTINGENT LIABILITIES: 31.03.2014 31.03.2013
Rs. In lacs Rs. In lacs
a. Bills discounted NIL NIL
b. Estimated amount of contracts
remaining to be executed on capital
account and not provided for (net of
Advances) 5.00 NIL
1.2 Income Tax assessments have been completed up to the Assessment
Year 2012- 2013.
1.3 The Company has opted the exemption route vide Central Excise
Notification No.30/2004 and 31/2004 dated 09.07.2004.
1.4 As at the end of the year, the Company does not have small-scale
industries as defined by Section 3-J of the Industries (Development and
Regulation) Act, 1951 and to whom more than Rs. 1.00 lac is due and
also for more than 30 days. Hence, the provision of interest does not
arise. There were no overdue payments to Micro, Small and Medium scale
enterprises during the year and there is no amount overdue as on the
date of the Balance Sheet to such enterprises.
1.5 Sundry debtors which are overdue for a period of 6 months and more
include a sum Rs.32.82 lacs (Rs.30.80 lacs) for which the Company has
taken legal action and is hopeful of recovery. Provision has been made
for Rs.32.84 Lacs for Doubtful Debtors.
1.6 Depreciation has been calculated according to Schedule XIV of the
Companies Act, 1956 as amended on straight-line method.
1.7 The Company has received a demand towards Peak Hour Electricity
charges amounting to Rs.55.36 lacs from TNEB against which the Company
has gone on appeal to the Honourable High Court of Madras. The Company
has paid this amount "Under Protest". This amount has not been
debited to the Profit & Loss account nor any provision made in the
accounts, pending disposal of appeal by the Honourable High Court of
Madras.
NOTES FORMING PART OF ACCOUNTS - DISCLOSURES
I. Segment-wise Reporting:
The Company is engaged mainly in the manufacture of yarn. The Company
owns Eleven wind mills mainly for captive consumption purpose only.
During the year the value of power generated through these mills is
Rs.14,95,17,309.00 (24443368 units) and this is adjusted with the power
cost of the Company. The processing division is operating mainly for
captive utilization and hence segment-wise reporting as defined in
Accounting Standard 17 is not required.
II. Deferred Tax Assets / Liability:
Deferred tax provision for the current year has been debited to the
profit and loss account for the year. The Balance of deferred Tax
liability is being disclosed as a liability.
III. Employee Benefits: AS-15:
a. Provident Fund Contribution:
During the year the Company has contributed Rs.3748419/- to Government
Provident fund. The Company does not have a separate exempted provident
fund.
b. Gratuity:
As per the records of the Company none of the employees come under the
purview of Payment of Gratuity Act.
c. With regard to other terminal benefits payable to employees the
Company makes a payment of such benefits every year and hence no
provision is required.
IV. Related Party Disclosure as per AS 18:
1. Related Parties: Associates: (i) N.Rajan & Sons
2. Key Management Personnel: (i) Sri.R.Premchander, Managing Director
(ii) Sri.R.Jaichander, Joint Managing Director.
Mar 31, 2013
1.1 The Company''s wholly owned subsidiary, M/s.AMARJOTHI COLOUR
MELANGE SPINNING MILLS LTD has been amalgamated with the Company on 1st
April 2012 vide the order of Honourable High Court of Madras Dated on
1st February 2013. Hence the accounts of the Company for the year ended
31.03.2013 includes the Operations of the Amalgamated subsidiary
Company for the full year.
1.2 Authorised share capital includes 30,00,000 Equity shares of
Rs.10/- each being authorised share capital of Rs.3,00,00,000 of
erstwhile Amarjothi Colour Melange Spinning mills Ltd which stood
combined with authorised share capital of the Company based on the
Scheme of Amalgamation approved by the Hon''ble High Court of Madras
vide its Order dated 1 st February 2013
1.3 There was a major Fire Accident in one of the yarn storage godowns
of the Company on 19.01.2013 as a result of which stock of Finished
goods amounting to 440121 kgs was destroyed by Fire alongwith certain
Machinery spares , Machinery & Building has also been damaged.
Necessary Insurance claim has been lodged with the insurer. The cost of
the stock of Finished goods has been shown under other income. The cost
of spares damaged has been credited in the stores consumed account
similarly the cost of the damaged machinery and building has been
written off in the Fixed Assets under deletion. As soon as the claim
is settled, necessary adjustment will be made in the accounts.
1.4. CONTINGENT LIABILITIES:
31.03.2013 31.03.2012
Rs. In lacs Rs. In lacs
a. Bills discounted NIL NIL
b. Estimated amount of contracts
remaining to be executed
on capital account and not provided
for (net of Advances) NIL 1920
1.5. Income Tax assessments have been completed up to the Assessment
Year 2011 - 2012.
1.6. The company has opted the exemption route vide Central Excise
Notification No.30/ 2004 and 31 /2004 dated 09.07.2004.
1.7. As at the end of the year, the Company does not have small-scale
industries as defined by Section 3-J of the Industries (Development and
Regulation) Act, 1951 and to whom more than Rs. 1.00 lac is due and
also for more than 30 days. Hence, the provision of interest does not
arise. There were no overdue payments to Micro, Small and Medium scale
enterprises during the year and there is no amount overdue as on the
date of the Balance Sheet to such enterprises.
1.8.Sundry debtors which are overdue for a period of 6 months and more
include a sum Rs.30.80 lacs (Rs.58.07 lacs) for which the Company has
taken legal action and is hopeful of recovery. Provision has been made
for Rs.32.84 Lacs for Doubtful Debtors.
1.9. Depreciation has been calculated according to Schedule XIV of
the Companies Act, 1956 as amended on straight-line method.
1.10. The Company has received a demand towards Peak Hour Electricity
charges amounting to Rs.55.36 lacs from TNEB against which the Company
has gone on appeal to the Honourable High Court of Madras. The company
has paid this amount" Under Protest".
This amount has not been debited to the Profit & Loss account nor any
provision made in the accounts, pending disposal of appeal by the
Honourable High Court of Madras.
1.11 Previous year figures have been regrouped and reclassified
wherever necessary to conform to current year''s classification.
I. Segment-wise Reporting:
The Company is engaged mainly in the manufacture of yarn. The Company
owns Eleven wind mills mainly for captive consumption purpose only.
During the year the value of power generated through these mills is Rs.
19,39,47,528.00 (34642420 units) and this is adjusted with the power
cost of the Company. The processing division is operating mainly for
captive utilization and hence segment-wise reporting as defined in
Accounting Standard 17 is not required.
II. Deferred Tax Assets / Liability:
Deferred tax provision for the current year has been debited to the
profit and loss account for the year. The Balance of deferred Tax
liability is being disclosed as a liability.
Deferred Taxation Liability on account of Timing Difference : (Rs.)
As on 01.04.2012 158729635.77
Add: Transfer to Profit & Loss a/c -5322560.00
Balance of Liability as on 31.03.2013 153407075.77
III. Employee Benefits: AS-15:
a. Provident Fund Contribution:
During the year the company has contributed Rs. 1848823/- to Government
Provident fund . The company does not have a separate exempted
provident fund.
b. Gratuity:
As per the records of the company none of the employees come under the
purview of Payment of Gratuity Act.
c. With regard to other terminal benefits payable to employees the
company makes a payment of such benefits every year and hence no
provision is required.
IV. Related Party Disclosure as per AS 18:
1. Related Parties: Associates: (i) N.Rajan & Sons
2. Key Management Personnel: (i) Sri.N.Rajan, Chairman
(ii) Sri.R.Premchander, Managing Director (iii) Sri.R.Jaichander, Joint
Managing Director.
Mar 31, 2012
1.1 During the five reporting periods immediately preceding the
reporting date, no shares have been issued by capitalization of
reserves as bonus shares or for Consideration other than cash.
1.2 The Company has a single class of equity shares. Accordingly all
equity shares rank equally with regard to voting rights, dividends and
share in the Company's residual assets.
2.1 Loan from Directors:
These amounts have been brought in pursuant to the terms of sanction of
Loans by Bankers and retained as unsecured loans.
2.2 Interest Free Sates Tax Loan:
The Company started to pay this loan from 2006 and will have to pay the
loan fully within the year 2015.
3.1 CONTINGENT LIABILITIES: 31.03.2012 31.03.2011
Rs. In lacs Rs. In lacs
a. Bills discounted NIL NIL
b. Estimated amount of contracts remaining
to be executed on capital account and not
provided for (net of Advances) NIL 1920
3.2. Income Tax assessments have been completed up to the Assessment
Year 2010-2011.
3.3 The company has opted the exemption route vide Central Excise
Notification No.30/2004 and 31/2004 dated 09.07.2004.
3.4 As at the end of the year, the Company does not have small-scale
industries as defined by Section 3-J of the Industries (Development and
Regulation) Act, 1951 and to whom more than Rs. 1.00 lac is due and
also for more than 30 days. Hence, the provision of interest does not
arise. There were no overdue payments to Micro, Small and Medium scale
enterprises during the year and there is no amount overdue as on the
date of the Balance Sheet to such enterprises.
3.5 Sundry debtors which are overdue for a period of 6 months and more
include a sum Rs.58.07 lacs (Rs.32.09 lacs) for which the Company has
taken legal action and is hopeful of recovery. Provision has been made
for Rs.32.84 Lacs for Doubtful Debtors.
3.6 Depreciation has been calculated according to Schedule XIV of the
Companies Act, 1956 as amended on straight-line method.
3.7 The Company has received a demand towards Peak Hour Electricity
charges amounting to Rs.55.36 lacs from TNEB against which the Company
has gone on appeal to the Honourable High Court of Madras. The company
has paid this amount " Under Protest". This amount has not been
'debited to the Profit & Loss statement nor any provision made in the
accounts, pending disposal of appeal by the Honourable High Court of
Madras.
3.8 Previous year figures have been regrouped and reclassified
wherever necessary to conform to current year's classification.
I. Segment-wise Reporting:
The Company is engaged mainly in the manufacture of yarn. The Company
owns Eleven wind mills mainly for captive consumption purpose only.
During the year the value of power generated through these mills is Rs.
12,64,33,405.50 (32509591 units) and this is adjusted with the power
cost of the Company. The processing division is operating mainly for
captive utilization and hence segment-wise reporting as defined in
Accounting Standard 17 is not required.
II. Deferred Tax Assets I Liability:
Deferred tax provision for the current year has been credited to the
profit and loss statement for the year. The Balance of deferred Tax
liability is being disclosed as a liability.
III. Employee Benefits: AS-15:
a. Provident Fund Contribution:
During the year the company has contributed Rs.2468946 /- to Government
Provident fund . The company does not have a separate exempted
provident fund.
b. Gratuity:
As per the records of the company none of the employees come under the
purview of Payment of Gratuity Act.
c. With regard to other terminal benefits payable to employees the
company makes a payment of such benefits every year and hence no
provision is required.
IV. Related Party Disclosure as per AS 18:
1. Related Parties: Associates: (i) N.Rajan & Sons
(i) Amarjothi Colour Melange Spinning Mills Ltd.
2. Key Management Personnel: (i) Sri.R.Premchander, Managing Director
(ii) Sri.R.Jaichander, Joint Managing Director.
Mar 31, 2011
1. CONTINGENT LIABILITIES: 31.03.2011 31.03.2010
Rs. In lacs Rs. In lacs
a. Bills discounted NIL NIL
b. Estimated amount of contracts rema
-ining to be executed on capital
account and not provided for (net
of Advances) NIL 1920
2. Income Tax assessments have been completed up to the Assessment
Year 2009 - 2010.
3. The company has opted the exemption route vide Central Excise
Notification No.30/ 2004 and 31/2004 dated 09.07.2004.
4. As at the end of the year, the Company does not have small-scale
industries as defined by Section 3-J of the Industries (Development and
Regulation) Act, 1951 and to whom more than Rs. 1.00 lac is due and
also for more than 30 days. Hence, the provision of interest does not
arise. There were no overdue payments to Micro, Small and Medium scale
enterprises during the year and there is no amount overdue as on the
date of the Balance Sheet to such enterprises.
5. Sundry debtors which are overdue for a period of 6 months and more
include a sum Rs.32.09 lacs (Rs.32.41 lacs) for which the Company has
taken legal action and is hopeful of recovery. These Debtors have been
provided in full.
6. Depreciation has been calculated according to Schedule XIV of the
Companies Act, 1956 as amended on straight-line method.
7. The Company has received a demand towards Peak Hour Electricity
charges amounting to Rs.26.89 lacs from TNEB against which the Company
has gone on appeal to the Honourable High Court of Madras, which has
granted a stay on the collection of the amount, pending disposal of the
Appeal.
8 Previous year figures have been regrouped and reclassified wherever
necessary to conform to current yearÃs classification.
Mar 31, 2010
1. CONTINGENT LIABILITIES: 31.03.2010 31.03.2009
Rs. In lacs Rs. In lacs
a. Bills discounted NIL NIL
b. Estimated amount of contracts
remaining to be executed on capital
account and not provided for
(net of Advances) 1920 NIL
2. Income Tax assessments have been completed up to the Assessment
Year 2008 - 2009.
3. The company has opted the exemption route vide Central Excise
Notification No.30/ 2004 and 31/2004 dated 09.07.2004.
4. As at the end of the year, the Company does not have small-scale
industries as defined by Section 3-J of the Industries (Development and
Regulation) Act, 1951 and to whom more than Rs. 1.00 lac is due and
also for more than 30 days. Hence, the provision of interest does not
arise. There were no overdue payments to Micro, Small and Medium scale
enterprises during the year and there is no amount overdue as on the
date of the Balance Sheet to such enterprises.
5. Sundry debtors which are overdue for a period of 6 months and more
include a sum Rs.32.41 lacs (Rs.21.04 lacs) for which the Company has
taken legal action and is hopeful of recovery. These Debtors have been
provided in full.
6. Depreciation has been calculated according to Schedule XIV of the
Companies Act, 1956 as amended on straight-line method.
7. The Company has received a demand towards Peak Hour Electricity
charges amounting to Rs.26.89 lacs from TNEB against which the Company
has gone on appeal to the Honourable High Court of Madras, which has
granted a stay on the collection of the amount, pending disposal of the
Appeal.
I. Segment-wise Reporting:
The Company is engaged in the manufacture of yarn. The Company owns
Eleven wind mills mainly for captive consumption purpose only. During
the year the value of power generated through these mills is
Rs.10,62,31,868/-(3,20,31,013 /-units) and this is adjusted with the
power cost of the Company. The processing division is operating mainly
for captive utilization and hence segment-wise reporting as defined in
Accounting Standard 17 is not required.
II. Employee Benefits: AS-15:
a. Provident Fund Contribution:
During the year the company has contributed Rs.6373911 /- to Government
Provident fund . The company does not have a separate exempted
provident fund.
b. Gratuity:
As per the records of the company none of the employees come under the
purview of Payment of Gratuity Act.
c. With regard to other terminal benefits payable to employees the
company makes a payment of such benefits every year and hence no
provision is required.
III. Related Party Disclosure as per AS 18:
1. Related Parties: Associates: (i) N.Rajan & Sons
2. Key Management Personnel: (i) Sri.R.Premchander, Managing
Director
(ii) Sri.R.Jaichander, Joint
Managing Director.
3. Relatives of Key Management
personnel: (i) Smt.J.Nandhini
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