Mar 31, 2014
1. (a) Provision has not been made for:
(I) Claims of ex-employees Rs. 4,30,399/- as the matters are
sub-judice.
2. 1829 acres of land at Gangapur and wells thereon continue to appear
in the Schedule of Fixed Assets under Land (Freehold) Rs. 13,01,993/-
(Previous Year Rs. 13,01,993/-) and wells a Farms Rs. 98,208/-
(Previous Year Rs. 98,208/-). The Government of Maharashtra had
declared the said land as surplus and taken over their possession. The
Company has preferred claims for compensation which is yet to be
settled. The necessary effects in the accounts will be given on receipt
of the Compensation.
3. 2850 Shares of Ganesh Flour Mill Company Limited held by the Company
has been classified as unquoted as all the undertaking of Ganesh Flour
Mills Company Limited were taken over by the Government Company
Hindustan Vegetable Oil Company under the Ganesh Flour Mills
(Acquisition and Transfer of Undertakings) Ordinance 1984. Out of this
400 shares which were sent for transfer has not been received back by
the Company and 2450 shares which were not registered in the name of
the Company the particulars of which are entered in the Register
maintained under section 49 (7) of the Companies Act 1956.
4. Position of Old Loans & Advances:
(a) Company Law Board v/s. Ganesh Flour Mills Company Limited and
other: Petition No. 45 of 1971. Company Application Nos. 225 and The
Company''s claims under the secured category had been settled and the
Company had agreed not to pursue its alternate claim through the
debenture trustees. The Company''s other claim under the unsecured
category are pending before the Commissioner of Payments. The Company
is constantly following up the matter to recover the amount . The
Company''s Petition 45 of 1971 and other Applications thereunder are
pending before the High Court, New Delhi for disposal.
(b) Miss S. Kelly, Principal, Hill Grange High School - High Court Suit
No. 280 of 1975 for Rs.27,311.95p Miss S. Kelly has deposited a sum of
Rs.15,000/- as directed by the Court. The Company has advised its
advocate to immediately file precipe for expeditious hearing of the
matter.
(c) Indira Gandhi Pratibha Pratishtan- High Court Suit No. 2923 of 1984
against A. R. Antulay & Others. The Company had filed a Suit in 1984
against the Trustees of Pratibha Pratishan in the High Court of Mumbai
for recovering the amount contributed to the Pratibha Pratishtan on
behalf of the cultivators in 1981 as per the request of Deccan Sugar
Factories Association and as authorised by the Directorate of Sugar,
Government of Maharashtra. The said amount could not be deducted from
final sugar price paid to the cultivators for the season 1980-81 as the
deduction was objected to by the cultivators. The Suit has not yet
reached for hearing.
5. The Company could not obtain balance confirmations in respect of the
balances under the heads Sundry Debtors, Bank Balances, Loans and
Advances, Deposits and Sundry Creditors. Hence such balances are shown
as per the Books of Account and are subject to
reconciliation/adjustments, if any.
6. In view of Notes 3 to 5 Investment, Current Assets and loans and
advances may not have a value on realisation in the ordinary course of
business at least equal to the respective amount at which they are
stated in the Balance Sheet.
7. The ex-factory prices of levy sugar for the seasons 1974-75 to
1979-80 were refixed by the Government of India pursuant to the
direction of the Supreme Court. The Company received the amount of Rs.
1,08,98,889/- being the difference in prices for the seasons 1974- 75
to 1979 - 80 from the Government of India during the year 1996-97 as
part payment against the claim of the Company. The balance claim of
the Company amounting to Rs. 12,47,934/- is under consideration of the
Government, the credit for which was taken in the Profit and Loss
Account for the year 1997- 98.
8. In absence of information from suppliers as to their status, the
Company does not possess a list of small scale suppliers. It is
therefore not possible to determine the amount due and interest (if
any) thereon.
(b) Computation of Profits under Section 349 of the Companies Act has
not been given as no commission is payable to the Managing
Director/Directors.
(c) Provision has been made towards Salary and House rent Allowance
payable to the Managing Director in the current year.
9. There is no change in the value of Inventories in compliance with
the revised Accounting Standards AS-2 issued by the Institute of
Chartered Accountants of India as there was no finished stock of
products dealt with by the Company at the year end.
10. The Figures of the previous year have been regrouped wherever
necessary.
Mar 31, 2013
1. (a) Provision has not been made for:
(I) Claims of ex-employees Rs. 4,30,399/- as the matters are
sub-judice.
2. 1829 acres of land at Gangapur and wells thereon continue to appear
in the Schedule of Fixed Assets under Land (Freehold) Rs. 13,01,993/-
(Previous Year Rs. 13,01,993/-) and wells at Farms Rs. 98,208/-
(Previous Year Rs. 98,208/-). The Government of Maharashtra had
declared the said land as surplus and taken over their possession. The
Company has preferred claims for compensation which is yet to be
settled. The necessary effects in the accounts will be given on receipt
of the Compensation.
3. 2850 Shares of Ganesh Flour Mill Company Limited held by the
Company has been classified as unquoted as all the undertaking of
Ganesh Flour Mills Company Limited were taken over by the Government
Company Hindustan Vegetable Oil Company under the Ganesh Flour Mills
(Acquisition and Transfer of Undertakings) Ordinance 1984. Out of this
400 shares which were sent for transfer has not been received back by
the Company and 2450 shares which were not registered in the name of
the Company the particulars of which are entered in the Register
maintained under section 49 (7) of the Companies Act 1956.
4. Position of Old Loans & Advances:
(a) Company Law Board v/s. Ganesh Flour Mills Company Limited and
other: Petition No. 45 of 1971. Company Application Nos. 225 and The
Company''s claims under the secured category had been settled and the
Company had agreed not to pursue its alternate claim through the
debenture trustees. The Company''s other claim under the unsecured
category are pending before the Commissioner of Payments. The Company
is constantly following up the matter to recover the amount. The
Company''s Petition 45 of 1971 and other Applications thereunder are
pending before the High Court, New Delhi for disposal.
(b) Miss S. Kelly, Principal, Hill Grange High School - High Court Suit
No. 280 of 1975 for Rs.27,311.95p Miss S. Kelly has deposited a sum of
Rs.15,000/- as directed by the Court. The Company has advised its
advocate to immediately file precipe for expeditious hearing of the
matter.
Indira Gandhi Pratibha Pratishtan- High Court Suit No. 2923 of 1984
against A. R. Antulay & Others. The Company had filed a Suit in 1984
against the Trustees of Pratibha Pratishan in the High Court of Mumbai
for recovering the amount contributed to the Pratibha Pratishtan on
behalf of the cultivators in 1981 as per the request of Deccan Sugar
Factories Association and as authorised by the Directorate of Sugar,
Government of Maharashtra. The said amount could not be deducted from
final sugar price paid to the cultivators for the season 1980-81 as the
deduction was objected to by the cultivators. The Suit has not yet
reached for hearing.
5. The Company could not obtain balance confirmations in respect of
the balances under the heads Sundry Debtors, Bank Balances, Loans and
Advances, Deposits and Sundry Creditors. Hence such balances are shown
as per the Books of Account and are subject to
reconciliation/adjustments, if any.
In view of Notes 3 to 5 Investment, Current Assets and loans and
advances may not have a value on realisation in the ordinary course of
business at least equal to the respective amount at which they are
stated in the Balance Sheet.
The ex-factory prices of levy sugar for the seasons 1974-75 to 1979-80
were refixed by the - Government of India pursuant to the direction of
the Supreme Court. The Company received the amount of Rs.1,08,98,889/-
being the difference in prices for the seasons 1974- 75 to 1979 - 80
from the Government of India during the year 1996-97 as part payment
against the claim of the Company. The balance claim of the Company
amounting to Rs. 12,47,934/- is under consideration of the Government,
the credit for which was taken in the Profit and Loss Account for the
year 1997- 98.
In absence of information from suppliers as to their status, the
Company does not possess a list of small scale suppliers. It is
therefore not possible to determine the amount due and interest (if
any) thereon.
(b) Computation of Profits under Section 349 of the Companies Act has
not been given as no commission is payable to the Managing
Director/Directors.
(c) Provision has been made towards Salary and House rent Allowance
payable to the Managing Director in the current year.
6. There is no change in the value of Inventories in compliance with
the revised Accounti Standards AS-2 issued by the Institute of
Chartered Accountants of India as there was finished stock of products
dealt with by the Company at the year end.
7. The Figures of the previous year have been regrouped wherever
necessary.
Mar 31, 2012
1. (a) Provision has not been made for :
(i)Claims of ex-employees Rs. 4,30,399/- as the matters are sub-judice.
2. 1829 acres of land at Gangapur and wells thereon continue to appear
in the Schedule of Fixed Assets under Land (Freehold) Rs. 13,01,993/-
(Previous Year Rs. 13,01,993/-) and wells at Farms Rs. 98,208/-
(Previous Year Rs. 98,208/-). The Government of Maharashtra had
declared the said land as surplus and taken over their possession. The
Company has preferred claims for compensation which is yet to be
settled. The necessary effects in the accounts will be given on receipt
of the Compensation.
3. 2850 Shares of Ganesh Flour Mill Company Limited held by the
Company has been classified as unquoted as all the undertaking of
Ganesh Flour Mills Company Limited were taken over by the Government
Company Hindustan Vegetable Oil Company under the Ganesh Flour Mills
(Acquisition and Transfer of Undertakings) Ordinance 1984. Out of this
400 shares which were sent for transfer has not been received back by
the Company and 2450 shares which were not registered in the 'name of
the Company the particulars of which are entered in the Register
maintained under section 49 (7) of the Companies Act 1956.
4. Position of Old Loans & Advances :
(a) Company Law Board v/s. Ganesh Flour Mills Company Limited and other
:
Petition No. 45 of 1971. Company Application Nos. 225 and The Company's
claims under the secured category had been settled and the Company had
agreed not to pursue its alternate claim through the debenture
trustees. The Company's other claim under the unsecured category are
pending before the Commissioner of Payments. The Company is constantly
following up the matter to recover the amount . The Company's Petition
45 of 1971 and other Applications thereunder are pending before the
High Court, New Delhi for disposal.
(b) Miss S. Kelly, Principal, Hill Grange High School - High Court Suit
No. 280 of 1975 for Rs.27,311.95p.
Miss S. Kelly has deposited a sum of Rs.15,000/- as directed by the
Court. The Company has advised its advocate to immediately file precipe
for expeditious hearing of the matter.
(c) Indira Gandhi Pratibha Pratishtan- High Court Suit No. 2923 of 1984
against A. R. Antulay & Others.
The Company had filed a Suit in 1984 against the Trustees of Pratibha
Pratishan in the High Court of Mumbai for recovering the amount
contributed to the Pratibha Pratishtan on behalf of the cultivators in
1981 as per the request of Deccan Sugar Factories Association and as
authorised by the Directorate of Sugar, Government of Maharashtra. The
said amount could not be deducted from final sugar price paid to the
cultivators for the season 1980-81 as the deduction was objected to by
the cultivators. The Suit has not yet reached for hearing.
5. The Company could not obtain balance confirmations in respect of
the balances under the heads Sundry Debtors, Bank Balances, Loans and
Advances, Deposits and Sundry Creditors. Hence such balances are shown
as per the Books of Account and are subject to
reconciliation/adjustments, if any.
6. In view of Notes 3 to 5 Investment, Current Assets and loans and
advances may not have a value on realisation in the ordinary course of
business at least equal to the respective amount at which they are
stated in the Balance Sheet. ,
7. The ex-factory prices of levy sugar for the seasons 1974-75 to
1979-80 were refixed by the Government of India pursuant to the
direction of the Supreme Court. The Company received the amount of
Rs.1,08,98,889/- being the difference in prices for the seasons 1974-
75 to 1979 - 80 from the Government of India during the year 1996-97 as
part payment against the claim of the Company. The balance claim of the
Company amounting to Rs. 12,47,934/- is under consideration of the
Government, the credit for which was taken in the Profit and Loss
Account for the year 1997- 98.
8. In absence of information from suppliers as to their status, the
Company does not possess a list of small scale suppliers. It is
therefore not possible to determine the amount due and interest (if
any) thereon.
9. There is no change in the value of Inventories in compliance with
the revised Accounting Standards AS-2 issued by the Institute of
Chartered Accountants of India as there was no finished stock of
products dealt with by the Company at the year end.
10. The Figures of the previous year have been regrouped wherever
necessary.
Mar 31, 2010
1. (a) Provision has not been made for:
(i) Claims of ex-employees Rs. 4,30,399/- as the matters are
sub-judice.
2.1829 acres ofland at Gangapur and wells the reoncontinue to appear in
the Schedule of Fixed Assetsunder Land(Freehold)Rs.13,01,993/-(Previous
Year Rs.13,01,993/-)andwellsatFarmsRs.98,208/-(Previous Year
Rs.98,208/-).The Gcwemment of Maharashtra had dedared the said
possession.The Company has preferred claims for compensation which is
yetto be settled. The necessary effects in the accounts will be given
on receipt of the Compensation.
3. 2850 Shares of Ganesh Four Mill CompanyLimited held by the Company
has been classified as unquoted as all the undertaking of Ganesh Flour
Mills Company Limited were taken over by the Government Company
Hindustan Vegetable Oil Company under the Ganesh Flour Mills
(Acquisition and Transfer of Undertakings) Ordinance 1984. Out of this
400 shares which were sent for transfer has not been received back by
the Company and 2450 shares which were not registered in tire name of
the Company the part of which are entered in the Register maintained
under section 49 (7) of the Companies Act 1956.
4. Position of Old Loans & Advances:
(a) Company Law Board v/s. Ganesh Flour Mills Company Limited and
other:
Petition No. 45 of 1971. Company Application Nos. 225 and The
CDcimpanys claims under the secured category had been settled and the
Company had agreed not to pursue its alternate claim through the
debenture trustees. The Companys other daim under the unsecured
category are pending before the Commissioner of Payments. The Company
is constantly following up the matter to recover the amount. The
Companys Petition 45 of 1971 and other Applications thereunder are
pending before the High Court, New Delhi for disposal.
(b) Miss S. Kelly, Principal, Hill Grange High School - High Court Suit
No. 280 of 1975 for Rs.27,311.95p. Miss S. Kelly has deposited a sum
of Rs. 15,000/- as directed by the Court. The Company has advised its
advocate to immediately file precipe for expeditious hearing of the
matter.
(c) Indira Gandhi Pratibha Pratishtan- High Court Suit No. 2923 of 1984
against A. R. Antulay & Others. The Company had filed a Suit in 1984
against the Trustees of Pratibha Pratishan in the High Court of Mumbai
for recovering the amount contributed to the Pratibha Pratishtan on
behalf of the cultivators in 1981 as per the request of Deccan Sugar
Factories Association and as authorised by the Directorate of Sugar,
Government of Maharashtra. The said amount could not be deducted from
final sugar price paid to the cultivators for the season 1980-81 as lhe
cleduction was objected to by the cultivatots. The Suit has not yet
reached for hearing.
5. The Company could not obtain balance confirmations in respect Ban
Balances, Loensand Advances, Depositsand Sundry Creditors. Hence such
of Acccount and are subject to reconciliation/adjustmenls,ifany.
6. In view of Notes 3 to 5 lnvestment, Current Assets and loans and
advances may not have a value on realisation in the ordinary course of
business at least equal to the respective amount at which they are
stated in the Balance Sheet
7. The ex-factory prices of levy sugar for the seasons 1974-75 to
1979-80 were refixed by the Government of India pursuant to the
direction of the Supreme Court. The Company received the amount of
Rs.1,08,98,889/ - being the difference in prices for the seasons 1974-
75 to 1979 - 80 from the Government of India during the year 1996-97 as
part payment against the claim of the Company. The balance claim of the
Company amounting to Rs. 12,47,934/-is under consideration of the
Government, the credit for which was taken in the Profit and Loss
Account for the year 1997-98.
8. I n absence of information from suppliers as to thei r status, the
Company does not possess a list of smalI scale suppliers. It is
therefore not possible to determine the amount due and interest (if
any) thereon.
(b) Computation of Profits under Section 349 of the Companies Act has
not been given as no commission is payable to the Managing
Director/Directors.
(c) Payment / Provision has not been made towards Salary and House rent
Allowance payable to the Managing Director as the same is waived by
him.
9. There is no change in the value of Inventories in compliance with
the revised Accounting Standards AS-2 issued by the Institute of
Chartered Accountants of India as there was no finished stock of
products dealt with by the Company at the year end.
10. The Figures of the previous year have been regrouped wherever
necessary.