Mar 31, 2015
1. Estimated amount of Contract remaining to be executed on capital
account (Factory at TADA Andhra Pradesh) and not provided for is Rs 366
lakhs. PY (Nil).
2. As per the information and explanation provided by the company
none of the suppliers of the company are micro enterprises or small
enterprises under the Micro, Small and Medium Enterprises Development
Act, 2006. Therefore the disclosures under section 22 of the said act
are not necessary.
3. Amount due and outstanding to be credited to the Investor
Education and protection fund Rs. NIL (P.Y.467853/-).
4. Pursuant to the enactment of Companies Act 2013, the company has
applied the estimated useful lives as specified in Schedule II.
Accordingly the unamortized carrying value is being depreciated over
the remaining useful lives. The transitional depreciation bn fixed
assets as at Ist April 2014,amounting to Rs 33,58,252/- has been
debited to Profit & Loss appropriation account and the current year
depreciation of Rs II ,78,744/- has been charged to profit and loss
account.
5. The Company's main activity of business is manufacturing and
marketing of cotton canvas. All other activity revolve around this main
business, hence there are is no separate segment within the company as
defined by 'AS 17 - SEGMENT REPORTING'.
6. Related party disclosures
Key Management Personnel & relative
Ajeet Kumar Bhandari
Anil Kumar Bhandari
Klix Brainotech
Krishna Kumar Bhandari
Ajeet Kumar Huf
Krishna Tarpaulin Industries Pvt Ltd
Rudraaksh Textiles India LLP
7. Previous year figures have been regrouped/ rearranged wherever
necessary to make them Comparable with the current year figures.
Mar 31, 2014
1. As per the information and explanation provided by the company none
of the suppliers of the company are micro enterprises or small
enterprises under the Micro, Small and Medium Enterprises Development
Act, 2006. Therefore the disclosures under section 22 of the said act
are not necessary.
2. Amount due and outstanding to be credited to the Investor Education
and protection fund Rs.467853/-(P.Y.467853/-). However the Company has
submitted letter to ING Vysya Bank Ltd (Banker to the Public issue) for
transfer of money to Investor Protection fund.
3. The Company''s main activity of business is manufacturing and
marketing of cotton canvas. All other activity revolve around this main
business, hence there are is no separate segments within the company as
defined by ''AS 17 - SEGMENT REPORTING''.
4. Previous year figures have been regrouped/ rearranged wherever
necessary to make them comparable with the current year figures.
Mar 31, 2013
1 Corporate information
M/s Bharat Textiles and Proofing Industries Ltd is a public company
domiciled in India and incorporated under the provisions of the
Companies Act, 1956. The Company is engaged in manufacturing and
trading of processed canvas, Tarpaulin, HDPE and chemically processing
canvas on Job work basis. The Company caters to both domestic and
international market.
2. CONTINGENT LIABILITIES
Contingent liabilities are determined on the basis of available
information and are disclosed by way of notes to the accounts.
Amount in INR
Particulars 31.03.2013 31.03.2012
Claim against the company not (INR in Lakhs) (INR in Lakhs)
Acknowledged as debt being NIL 16.53
Disputed Customs matter
The Director General of Foreign Trade, New Delhi has revoked Bank
Guarantee amount of INR 1,653,890/- towards non-fulfilment of Export
obligation against EPCG Scheme. The Honourable High Court of Madras had
given order in the favor of Company. However High court order has not
been given effect by the DGFT, as it is received very recently. No
provision has been made in the books of accounts.
3. As per the information and explanation provided by the company none
of the suppliers of the company are micro enterprises or small
enterprises under the Micro, Small and Medium Enterprises Development
Act, 2006. Therefore the disclosures under section 22 of the said act
are not necessary.
4. Amount due and outstanding to be credited to the Investor
Education and protection fund INR 467,853/-(P.Y. INR 467,853/-).
However the Company has submitted letter to ING Vysya Bank Ltd (Banker
to the Public issue) for transfer of money to Investor Protection fund.
5. The accumulated provision for Gratuity debited to profit and loss
account during the year is Nil PY (INR 1,106,977/-).
6. The Company''s main activity of business is manufacturing and
marketing of cotton canvas. All other activity revolve around this main
business, hence there are is no separate segments within the company as
defined by ''AS 17 - SEGMENT REPORTING''.
Mar 31, 2012
1. Corporate information
M/s Bharat Textiles and Proofing Industries Ltd is a public company
domiciled in India and incorporated under the provisions of the
Companies Act, 1956. The Company is engaged in manufacturing and
trading of processed canvas. Tarpaulin HDPE and chemically processing
canvas on Job work basis. The Company caters to both domestic and
international market.
2 Basis of preparation
The financial statements of the Company have been prepared in
accordance with generally accepted accounting principles in India and
the provision of the Companies Act, 1956. The financial statements have
been prepared on an accrual basis and at historical cost. Accounting
policies not specifically referred to otherwise are consistent with and
are in consonance with generally accepted accounting principles.
a.Term loan securities:
The term loan is secured by entire immovable properties of company
situated at factory, go down, premises and Hypothecation of all movable
assets including inventories, Book debts and Plant & Machinery. The loan
is also guaranteed by one of the Director of company. The term loan is
repayable on demand.
b.Unsecured loan from related parties are repayable on demand.
3. Contingent Liabilities:
Contingent liabilities are determined on the basis of available
information and are disclosed by way of notes to the accounts:
Claim against the company not Acknowledged as debt being Disputed
Customs matter 16.53 lakhs 16.53 lakhs
Director General of Foreign Trade, New Delhi has revoked Bank Guarantee
amount of Rs.16,53,890/- towards non-fulfillment of Export obligation
against EPCG Scheme. The Company has obtained interim injection order
from Honorable High Court of Madras. The Company is confident of
succeeding the case. No provision has been made in the 29.As per the information and explanation provided by the company none of the
suppliers of the company are micro Enterprises or small enterprise
under the Micro, Small and Medium Enterprises Development Act, 2006.
Therefore the disclosures under section 22 of the said act are not
necessary.
4. Amount due and outstanding to be credited to the Investor
Education and protection fund Rs.467853/- (F.Y.467853/-). However the
However the Company has submitted letter to ING Vysya Bank Ltd (Banker
to the Public issue) for transfer of money to Investor Protection fund.
5.The Gratuity provision debited to profit and loss account amounting
to Rs 11,06,977/- includes earlier years accumulated provision of Rs
9,75,246/-.
6.The Companys main activity of business is manufacturing and
marketing of cotton canvas. All other activity revolve around this main
business, hence there are is no separate segments within the company as
defined by AS 17 - SEGMENT REPORTING.
7. Previous year figures have been regrouped/ rearranged wherever
necessary to make them comparable with the current year figures.
Mar 31, 2011
1. CONTINGENT LIABILITY
Claims against the company not acknowledged as debts, being disputed
and pending in Appeals/assessment in respect of
Current Year Previous Year
(in Lacs) (in Lacs)
(a) Customs matter 16.53 16.53
2. The Director General of Foreign Trade, New Delhi has revoked Bank
Guarantee amount of Rs.16,53,890/- towards non-fulfillment of Export
obligation against EPCG Scheme. The Company has obtained interim
injection order from Honorable High Court of Madras. No provision has
been made in the books of accounts.
3 The obligation of Company towards accumulated gratuity provision is
estimated at Rs.19,50,492/-. However the Company has made provision for
50% of the amount i.e. Rs.975246/- only and the balance provision will
be made in the subsequent year.
4. Debit and credit balances not recoverable / payable are written
off/written back in the books of accounts.
5. Amount due and outstanding to be credited to the Investor Education
and protection fund Rs.467853/- (F.Y.467853/-). However the Company has
submitted letter to ING Vysya Bank Ltd (Banker to the Public issue) for
transfer of money to Investor Protection fund.
6. Previous year figures have been regrouped/ rearranged wherever
necessary to make them comparable with the current year figures.
7. The Company has been advised that the computation of net profits
for the purpose of Directors remuneration under Section 349 of the
Companies Act 1956 need not be enumerated since no Commission has been
paid to the Directors. The monthly remuneration paid to the Director is
as per Schedule XIII of the Companies Act 1956.
8. Payments against suppliers from Small Scale Industrial undertaking
are made in accordance with agreed terms and to the extent
ascertainable from available information. The names of small scale
Industrial undertakings in whose account an amount of Rs.1.00 lakh or
more was outstanding for more than 30 days are NIL (Previous year- Nil
)
9.In accordance with 'Accounting Standard 22' the deferred tax assets
has been recognized by company on its accumulated losses, Gratuity
provision and MAT Credit amounting to Rs.1,39,52,516/-.Deferred tax
Liability has recognized on depreciation amounting to Rs
75,10,066/-.The deferred Tax Asset and Liability are netted and Rs
64,42,450 /- has been stated as deferred Tax asset. A Provision of
Deferred Tax amounting to Rs.6,17,403/- has made in the books of
accounts.
10.The Company main activity of business is manufacturing and marketing
of cotton canvas. All other activity revolve around this main
business, hence there are is separate segments within the company as
defined by 'AS 17 - SEGMENT REPORTING'.