Mar 31, 2017
1). Preference shares are Redeemable after five years from the date of allotment subject to achieving net worth of Rs. 100 lakhs without considering the said preference shares
2). The Board meeting held on 22/07/2016 has approved the redemption plan of the preference shares. Ten lakhs redeemable preference shares of Rs. 100 each shall be redeemed out of the profits of the Company in not more than 10 annual installments of a minimum of 1,00,000 preference Shares of Rs. 100 each aggregating to Rs. 1 crore per year.
3). The Company has redeemed 100000 Zero percent Redeemable Preference Shares of Rs. 100 each at a value of Rs. 1 crore during the year.
4. AS -19, Leases (Operating Lease - Leases as a lessor)
5. The Company has given plant & equipment to its franchisees under operating lease on cancellable basis by giving 90 days notice by either party. The lease term varies from 3 years to 5 years.
6. Total contingent rent recognized as income in the statement of profit and loss for the period. NIL
7. Initial direct costs in connection with the leases are expensed in the statement of profit and loss for the period.
8.. Information of the Company as required to be furnished as per Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act) for the year ended March 31, 2017 is given below. This information has been determined to the extent such parties have been identified on the basis of information available with the Company.
9. Previous year figures have been regrouped /reclassified wherever necessary to suit the current year''s layout.
Mar 31, 2015
1. BACKGROUND
Eastern Treads Limited was incorporated on 02/07/1993. Its shares are
listed in Bombay Stock Exchange. The company is primarily engaged in
the business of manufacturing and dealing of tread rubber and rubber
based adhesives.
2. CONTINGENT LIABILITIES AND COMMITMENTS (to the extent not provided
for)
a. Claims against the company not
acknowledged as debt Demand by 5,646,168 5,455,836
KVAT Authorities in appeal
pending disposal
Bank Guarantees outstanding 12,021,943 14,469,543
Vendor Finance Facility with 24,295,846 -
IDBI Bank
Foreign Bills Discounting 2,542,061 6,537,314
b. Estimated amounts of contracts
remaining to be executed on capital
account and not provided for 31,577,300 34,198,950
3. The management has initiated the process of identifying
enterprises which have provided goods and services to the company and
which qualify under the definition of micro and small enterprises, as
defined under Micro, Small and Medium Enterprises Development Act,
2006. The company has not received any intimation from its vendors
regarding their status under Micro, Small and Medium Enterprises
Development Act, 2006. Further in the view of the management, the
impact of interest, if any, that may be payable in accordance with the
provisions of the Act is not expected to be material.
4. Previous year figures have been regrouped /reclassified wherever
necessary to suit the current year''s layout.
Mar 31, 2013
1. ACTIVITIES
Eastern Treads Limited was incorporated on 02/07/1993. Its shares are
listed in Bombay Stock Exchange, Cochin Stock Exchange and Madras Stock
Exchange. The Company is primarily engaged in the business of
manufacturing and dealing of tread rubber and rubber based adhesives.
2. CONTINGENT LIABILITIES AND COMMITMENTS
(to the extent not provided for)
a. Claims against the company not
acknowledged as debt Demand by KVAT
Authorities in appeal 5,455,836.00 5,435,836.00
pending disposal
b. Guarantees given by Banks against
counter guarantee of the Company 10,695,000.00 12,050,491.00
c. Estimated amounts of contracts
remaining to be executed on capital
account and not provided for 2,826,632.00 5,276,448.00
3. RELATED PARTY DISCLOSURES
Name of the related party and nature of relationship where control
exists
List of the companies in which one of the director has significant
influence
Eastern Condiments Pvt Ltd Eastern Mattresses Pvt Ltd Eastern Retreads
Pvt Ltd Eastea Chai Pvt Ltd Feroz Treads Pvt Ltd Sheram Treads Pvt Ltd
Sumo Treads Pvt Ltd
Key Management Personnel
Navas M. Meeran M.E.Meeran M.E. Mohamed M S Ranganathan
Relative of Key Management Personnel
Alfa Rubbers Rosekhan Rubbers Sahara Treads
Mar 31, 2012
1. ACTIVITIES
Eastern Treads Limited was incorporated on 02/07/1993. The Company is
primarily engaged in the business of manufacturing and dealing of tread
rubber and rubber based adhesives.
2. CONTINGENT LIABILITIES AND COMMITMENTS (to the extent not provided
for)
a. Claims against the company not
acknowledged as debt demand by KVAT
Authorities in appeal pending disposal 5,435,836.00 5,000,000.00
b. Guarantees given by Banks against
counter guarantee of the company 12,050,491.00 5,103,126.00
c. Estimated amounts of contracts
remaining to be executed on capital
account and not provided for 5,276,448.00 6,000,000.00
3. In the opinion of the management, the current assets, loans and
advances shall realise the value as show in the balance sheet, if
realised in the normal course of business.
4. Balance of sundry debtors, creditors, fixed deposits & loans and
advances are subject to confirmation / reconciliation.
5. RELATED PARTY DISCLOSURES
Name of the related party and nature of relationship
List of the companies in which one of the directors has significant
influence
Eastern Condiments Pvt Ltd
Eastern Retreads Pvt Ltd
Feroz Treads Pvt Ltd
Sheram Treads Pvt Ltd
Key Management Personnel
Navas M. Meeran
M.E. Mohamed
M.S. Ranganathan
Relative of Key Management Personnel
Alfa Rubbers
Kappiri Rubbers
Rosekhan Rubbers
Sahara Treads
Sumo Treads Private Limited
Safine Rubbers Private Limited
Nilima Treads Private Limited
6. The management has initiated the process of identifying
enterprises which have provided goods and services to the Company and
which qualify under the definition of micro and small enterprises, as
defined under Micro, Small and Medium Enterprises Development Act,
2006. The Company has not received any intimation from its vendors
regarding their status under Micro, Small and Medium Enterprises
Development Act, 2006. Further in the view of the management, the
impact of interest, if any, that may be payable in accordance with the
provisions of the Act is not expected to be material.
7. Previous year figures have been regrouped/reclassified wherever
necessary to suit the current year's layout.
Mar 31, 2010
1. Background
Eastern Treads Limited was incorporated on 02/07/1993.The Company is
primarily engaged in the business of manufacturing and dealing of tread
rubber and rubber based adhesives.
Current Year Previous Year
2. Contingent liabilities not
provided for in the Accounts:
a. Guarantees given by Banks
against counter 999,491.00 799,491.00
guarantee of the Company
b. Demand by KVAT Authorities
in appeal pending disposal 5,000,000.00 5,000,000.00
3. The Cash Credit from The Federal Bank Ltd is secured by way of
first charge on the floating assets and second charge on the fixed
assets ofthe Company and are further guaranteed by the Promoter
Directors of the Company.
4. In the opinion of the management , the current assets, loans and
advances shall realise the value as shown in the balance sheet, if
realised in the normal course of business.
5. Balance of sundry debtors, creditors, loans and advances are
subject to confirmation/reconciliation.
6. Disclosure in respect of related parties:- a) Name of the related
party and nature of relationship
1. Associate Companies
Eastern Condiments Pvt Ltd Eastern Retreads Pvt Ltd Feroz Treads Pvt
Ltd Sheram Treads Pvt Ltd
2. Key Management Personnel
M.E. Meeran
Navas M. Meeran
M.E. Mohamed
3. Relative of Key Management Personnel
Alfa Rubbers
Kappiri Rubbers
Rosekhan Rubbers
Sahara Treads
7. The management has initiated the process of identifying enterprises
which have provided goods and services to the Company and which qualify
under the definition of micro and small enterprises, as defined under
Micro, Small and Medium Enterprises Development Act, 2006. The Company
has not received any intimation from its vendors regarding their status
under Micro, Small and Medium Enterprises Development Act, 2006.
Further in the view of the management, the impact of interest, if any,
that may be payable in accordane with the provisions of the Act is not
expected to be material.
8. Previous year figures have been regrouped /reclassified wherever
necessary to suit the current years layout.