Mar 31, 2014
Sr. FY -13-14 FY-12-13
No- Particulars
NOTE NO: 1 ADDITIONAl INFORMATION
1 CONTINGENT LIABILITIES AND COMMITMENTS
(To the extent not provided for)
a) Contingent liabilities
(i) Claims against the company not a
cknowledged as debt 0 0
(ii) Guarantees
Bank Guarantee valid upto 28/09/2021 against
EPGC Licence issued by Bank of India against
export obligations to be fulfilled
in 6 yrs commencing from FY 12. The said
guarantee is equivalent to 15% of duty saved
amount of Rs. 119.49 lacs on import of 3
Machines (now reduced to two machines) under
export obligatioi against which 100% margin
by way of TOR (i.e. 15% of Rs. 119.49
lacs equivalent to Rs. 17.92 lacs but
rounded to Rs. 20.70 lacs) is
held by bank. 2070000 2070000
(iii) A Bond of Rs. 335 lacs in
the form of undertaking dated 27/09/2011
is given by the Company under said EPGC
No. 03330030577 dated 15/09/2011 in
favour of President of India account
custom towards duty saved plus interest
for 10 years atl8% p.a. in case if
there is a short fall in meeting the export
obligations. (Net of export obligation
fulfilled in FY 12, FY 13 & FY 14,
balance Export obligations to be
fulfilled in 3 years
by FY -17) 13147381 23400000
15217381 25470000
2 The Disclosures required under
Accounting Standard 15 "Employee
Benefits" notified in the Companies
(Accounting Standards) Rules, 2006
are given below.
b) Defined benefit plan/ Long Term Compensated Absences.
The company''s Employees Gratuity Fund Scheme managed by the LIC of
India is a defined plan. The present value of obligation based on
actuarial valuation using the Projected Unit Credit Method is not
determined and any effect thereof will be provided / accounted as and
when finalized.
c) Compensated Absences
The company has provided for the leave encashment liability at the
balance sheet date based on permissible accumulated leave balance of
the employees at the last salary drawn. Liability as per actuarial
valuation is not determined arid any effect thereof will be provided /
accounted as and when finalized. The company has no defined benefit
plan for this purpose as yet.
3 Amounts not provided for
a) Import against DALC for Rs NIL for purchase of raw materials
(previous year Rs NIL).
b) On account of claims by two ex-employees amounting to Rs. 0.37 lacs
and Rs. 2.97 lacs which the company is contesting before the
appropriate authority/Court.
c) A charge sheet has been filed in the JMFC, XVth Court, Aurangabad by
the MIDC CIDCO Police Station, Aurangabad against the erstwhile
Technical Director, N. K. Chatterjee and two other ex-employees of the
company for the misappropriation of funds carried out by them during
their tenure of employment with the company in FY 03 - 04. The company
has also filed a suit in the City Civil Court at Aurangabad claiming an
amount of Rs 72 lacs from N.K. Chatterjee for the amounts
misappropriated. The amounts so misappropriated will be accounted for
in the year of recovery. As a counter blast to the FIR, the said
ex-employee N. K. Chatterjee has made a claim of Rs. 50 lacs in FY 04 -
05 for his alleged terminal dues in the City Civil Court, Aurangabad
which is being contested by the company.
d) On account of penalty of Rs 1.75 lacs imposed by SEBI which is
represented by the company for remission/ waiver.
e) On account of additional custom duty demand of Rs. 7,13,812/- on a
CNC machine imported in FY 07 - 08 which had been contested in appeal
before the Commissioner of Customs (Appeal) and Rs. 2,00,500/- has been
paid as advance against the same.
4 Realisable value
In the opinion of the Board, all assets other than fixed assets have a
realisable value in the ordinary course of business which is not less
than the amount at which it is stated.
5 The company is not required to have a Qualified Company Secretary in
view of Section 383A of Companies Act, 1956.
6 Confirmation of Balances
The balances of trade receivables, trade payables, unsecured loans and
loans and advances are subject to confirmation.
7 Related Party Disclosures
a) Related Party and their Relationship
Subsidiaries : NIL
Associates : Jainex Foods Private Limited
Jainex Limited
Jainex Imports & Exports Private
Limited
Dugar Brothers & Company
Key Management Personnel : Mr. B. S. Dugar (Chairman)
Mr. R. Mazumdar (Ex. MD)
Mr. M. Z. Kothari (Jt. MD now MD)
Mr. Kunal Bafna
Relatives of Key Management
Personnel : NIL
8 Figures for previous year have been rearranged/regrouped wherever
necessary.
Mar 31, 2013
1. The Gross Block of Fixed Assets as at 31.03.2013 include Rs. 339.21
lacs(p. y. Rs. 343.82) (net of sale of half land at Aurangabad during
the financial year FY 03 and machinery in FY 13) on account of
revaluation of Fixed Assets of Aurangabad Unit comprising Land,
Building and Plant & Machinery carried out on 01.04.98 by an
approved valuer.
2. Cummulative amount transferred on account of depreciation on
revaluation 7 280.12 lacs (net of adjustment/deduction on account of
sale of land)
3. No depreciation has been charged on assets not in use.
Sr. FY-12-13 FY-11-12
Particulars
No
Against export obligations to be fulfilled in 6 yrs commencing from FY
12. The said guarantee is equivalent to 15% of duty saved amount of Rs.
119.49 lacs on import of 3 Machines under export obligation against
which 100% margin by way of TDR is held by bank. 1800000 1800000
a) Defined Contribution Plan
Contribution to Defined Contribution Plan, reco- gnised are charged off
for the year are as under.
Employers Contribution to state governed Provident Fund Employers
Contribution to state governed Pension Schemes Employers Contribution
to state governed Employees State Insurance
b) Defined benefit plan/ Long Term Compensated Absences.
The company''s Employees Gratuity Fund Scheme managed by the LIC of
India is a defined plan. The present value of obligation based on
actuarial valuation using the Projected Unit Credit Method is not
determined and any effect thereof will be provided / accounted as and
when finalized.
c) Compensated Absences
The company has provided for the leave encashment liability at the
balance sheet date based on permissible accumulated leave balance of
the employees at the last salary drawn. Liability as per actuarial
valuation is not determined and any effect thereof will be provided /
accounted as and when finalized. The company has no defined benefit
plan for this purpose as yet.
4 Amounts not provided for
a) Import against DALC for Rs NIL for purchase of raw materials
(previous year Rs NIL).
b) On account of claims by two ex-employees amounting to Rs. 0.37 lacs
and Rs. 2.97 lacs which the company is contesting before the
appropriate authority and is of the view that the claim will not
sustain.
c) A charge sheet has been filed in the JMFC, XVth Court, Aurangabad by
the MIDC CIDCO Police Station, Aurangabad against the erstwhile
Technical Director, N. K. Chatterjee and two other ex-employees of the
company for the misappropriation of funds carried out by them during
their tenure of employment with the company in FY 03 - 04. The company
has also filed a suit in the City Civil Court at Aurangabad claiming an
amount of Rs 72 lacs from N.K. Chatterjee for the amounts
misappropriated. The amounts so misappropriated will be accounted for
in the year of recovery. As a counter blast to the FIR, the said
ex-employee N. K. Chatterjee has made a claim of Rs. 50 lacs in FY 04 -
05 for his alleged terminal dues in the City Civil Court, Aurangabad
which is being contested by the company.
d) On account of penalty of Rs 1.75 lacs imposed by SEBI which is
represented by the company for remission/ waiver.
e) On account of additional custom duty demand of Rs. 7,13,812/- on a
CNC machine imported in FY 07 - 08 which had been contested in appeal
before the Commissioner of Customs (Appeal) and Rs. 2,00,500/- has been
paid as advance against the same.
5 Realisable value
In the opinion of the Board, all assets other than fixed assets have a
realisable value in the ordinary course of business which is not less
than the amount at which it is stated.
6 The company is not required to have a Qualified Company Secretary in
view of Section 383A of Companies Act, 1956.
7 Confirmation of Balances
The balances of trade receivables, trade payables, unsecured loans and
loans and advances are subject to confirmation
8 Related Party Disclosures
a) Related Party and their Relantionship
Subsidiaries : NIL
Associates : Jainex Foods Private Limited
Jainex Limited
Jainex Imports & Exports Private Limited Dugar Brothers & Company
Key Management Personnel : Mr-B-s- Du8ar (Chairman)
Mr. R. Mazumdar (MD) Mr. M. Z. Kothari (Jt. MD)
Relatives of Key Management Personnel: NIL
Mar 31, 2012
1 CONTINGENT LIABILITIES AND COMMITMENTS
(To the extent not provided for)
a) Contingent liabilities
(i) Claims against the company not
acknowledged as debt 0 0
(ii) Guarantees
Bank Guarantee valid upto 28/09/2021 against
EPGC Licence issued by Bank of India
Against export obligations to be fulfilled
in 6 yrs commencing from FY 12. The said
guarantee is equivalent to 15% of duty
saved amount of Rs. 119.49 lacs on import
of 3 Machines under export obligation
against which 100% margin by way of TDR
is held by bank. 1800000 0
(iii) A Bond of Rs. 335 lacs in the form
of undertaking dated 27/09/2011 is given
by the Company under said EPGC No.
03330030577 dated 15/09/2011 in favour
of President of India account custom
towards duty saved plus interest for
10 years at 18% p.a. in case if there
is a short fell in meeting the export
obligations. (Net of export obligation
fulfilled in FY 12, balance Export
obligations to be fulfilled in 5 years
by FY -17) 29400000 0
31200000 0
b) Defined benefit plan/ long Term Compensated Absences.
The company's Employees Gratuity Fund Scheme managed by the LIC of
India is a defined plan. The present value of obligation based on
actuarial valuation using the Projected Unit Credit Method is not
determined and any effect thereof will be provided / accounted as and
when finalized.
c) Compensated Absences
The company has provided for the leave encashment liability at the
balance sheet date based on permissible accumulated leave balance of
the employees at the last salary drawn. Liability as per actuarial
valuation is not determined and any effect thereof will be provided /
accounted as and when finalized. The company has no defined benefit
plan for this purpose as yet.
2 Amounts not provided for. .
a) Import against DALC for Rs NIL for purchase of raw materials
(previous year Rs NIL).
b) On account of claims by two ex-employees amounting to Rs. 0.37 lacs
and Rs. 2.97 lacs which the company is contesting before the
appropriate authority and is of the view that the claim will not
sustain.
c) A charge sheet has been filed in the JMFC, XVth Court, Aurangabad by
the MIDC CIDCO Police Station, Aurangabad against the erstwhile
Technical Director, N. K. Chatterjee and two other ex-employees of the
company for the misappropriation of funds carried out by them during
their tenure of employment with the company in FY 03 - 04. The company
has also filed a suit in the Gty Civil Court at Aurangabad claiming an
amount of Rs 72 lacs from NX Chatterjee for the amounts
misappropriated. The amounts so misappropriated will be accounted for
in the year of recovery. As a counter blast to the FIR, the said
ex-employee N. K. Chatterjee has made a claim of Rs. 50 lacs in FY 04 -
05 for his alleged terminal dues in the Gty Civil Court, Aurangabad
which is being contested by the company.
d) On account of penalty of Rs 1.75 lacs imposed by SEBI which is
represented by the company for remission/ waiver.
e) On account of additional custom duty demand of Rs. 7,13,812/- on a
CNC machine imported in FY 07 - 08 which had been contested in appeal
before the Commissioner of Customs (Appeal) and Rs. 2,00,500/- has been
paid as advance against the same.
3 Realisable value
In the opinion of the Board, all assets other than fixed assets have a
realisable value in the ordinary course of business which is not less
than the amount at which it is stated.
4 The company is not required to have a Qualified Company Secretary in
view of Section 383A of Companies Act, 1956.
5 Confirmation of Balances
The balances of trade receivables, trade payables, unsecured loans and
loans and advances are subject to confirmation
6 Figures for previous year have been rearranged/regrouped wherever
necessary.
7 Balance Sheet and Statement of Profit & Loss are drwan as per
notification No. S.O. 447 (E) dt. 28.02.2011 on revised Schedule VI to
the Companies Act. 1956.
Mar 31, 2011
1 The company is not required to have a Qualified Company
Secretary in view of Section 383A of Companies Act, 1956.
2 The balances of Sundry Debtors, Sundry Creditors and Loans & Advances
are subject to confirmation.
3 Commitments pending on capital accounts is Rs. 617 lacs -net of
advance (previous year Rs. NIL).
4 Provision for Contingencies (not provided)
a Import against DALC for Rs NIL for purchase of raw materials
(previous year Rs. NIL).
b On account of claim by two ex-employee amounting to Rs. 0.37 lacs and
Rs. 2.97 lacs which the company is contesting before the appropriate
authority and is of the view that the claim will not sustain.
c A charge sheet has been filed in the JMFC, XVth Court,Aurangabad by
the MIDC CIDCO Police Station, Aurangabad against the erstwhile
Technical Director, N. K. Chatterjee and two other ex-employees of the
company for the misappropriation of funds carried out by them during
their tenure of employment with the company. The company has also filed
a suit in the City Civil Court at Aurangabad claiming an amount of Rs
72 lacs from N. K. Chatterjee for the amounts misappropriated. The
amounts so misappropriated will be accounted for in the year of
recovery. As a counterblast to the FIR, the said ex-employee N. K.
Chatterjee has made a claim of Rs. 50 lacs for his alleged terminal
dues in the City Civil Court, Aurangabad which is being contested by
the company.
d On account of penalty of Rs 1.75 lacs imposed by SEBI which is
represented by the company for remission/ waiver.
e On account of additional custom duty demand of Rs. 713812 on
account of a CNC machine imported in ealier years which had been
contested in appeal before tha Appellate Tribunal.
5. Related party Disclosure
(a) Related Party and their Relationship.
Subsidiries NIL
Associates Jainex Foods Pvt. Limited
Jainex Limited
Jainex Imports & Exports Pvt. Limited
Dugar Brothers & Company
Key Management Personnel Mr. B. S. Dugar (Chairman)
Mr. R. Mazumdar (MD),
Mr. M. Z. Kothari (Jt MD),
Mr. Rahul Dugar (WTD).
Relatives of Key Management Personnel
6 The Disclosures required under Accounting Standard 15 "Employee
Benefits* notified in the Companies (Accounting Standards) Rules, 2006
are given below.
b) Defined benefit plan/ Long Term Compensated Absences.
The company's Employees Gratuity Fund Scheme managed by the LIC of
India is a defined plan. The present value of obligation based on
actuarial valuation using the Projected Unit Credit Method is being
determined and any effect thereof will be provided / accounted as and
when finalized.
c) Compensated Absences
The company has provided for the leave encashment liability at the
balance sheet date based on permissible accumulated leave balance of
the employees at the last salary drawn. Liability as per actuarial
valuation is being determined and any effect thereof will be provided /
accounted as an when finalized. The company has no defined benefit plan
for this purpose as yet.
7 Information pursuant to Part IV of Schedule VI to the Companies Act,
1956. Balance Sheet abstract and general business profile and cash flow
statement pursuant to clause 32 of listing agreement are annexed
hereto.
8 Figures for previous year have been rearranged/regrouped wherever
necessary.
Mar 31, 2010
1 Sundries in schedule 14 includes Auditors
Remuneration as under
Audit Fees
Tax Audit Fees
Taxation and other matters
2 The company is not required to have a Qualified Company Secretary in
view of Section 383A of Companies Act, 1956.
3 The balances of Sundry Debtors, Sundry Creditors and Loans & Advances
are subject to confirmation.
4 Commitments on capital accounts pending is Rs. NIL (previous year Rs.
NIL).
5 Provision for Contingencies
a Import against DALC for Rs NIL for purchase of raw materials
(previous year Rs. NIL).
b On account of claim by two ex-employee amounting to Rs. 0.37 lacs and
Rs. 2.97 lacs which the company is contesting before the appropriate
authority and is of the view that the claim will not sustain.
c A charge sheet has been.filed in the JMFC, XVth Court,
Aurangabad by the MIDCCIDCO Police Station, Aurangabad against the
erstwhile Technical Director, N. K. Chatterjee and two other
ex-employees of the company for the misappropriation of funds carried
out by them during their tenure of employment with the company. The
company has also filed a suit in the City Civil Court at Aurangabad
claiming an amount of Rs 72 lacs from N. K. Chatterjee for the amounts
misappropriated. The amounts so misappropriated will be accounted for
in the year of recovery. As a counterblast to the FIR, the said
ex-employee N. K. Chatterjee has made a claim of Rs. 50 lacs for his
alleged terminal dues in the City Civil Court, Aurangabad which is
being contested by the company.
d On account of penalty of Rs 1.75 lacs imposed by SEBI which is
represented by the company for remission/ waiver.
6. Related party Disclosure
6 (a) Related Party and their Relationship.
Subsidiries NIL
Associates Jainex Foods Pvt. Limited
Jainex Limited
Jainex Imports & Exports Pvt. Limited
Dugar Brothers & Company
Key Management Personnel: Mr. B. S. Dugar (Chairman)
Mr. R. Mazumdar (MD), Mr. M. Z. Kothari
(Jt. MD), Mr. Rahul Dugar (WTD).
Relatives of Key Management Personnel
7 The Disclosures required under Accounting Standard 15 "Employee
Benefits" notified in the Companies (Accounting Standards) Rules, 2006
are given below.
b) Defined benefit plan/ Long Term Compensated Absences.
The companys Employees Gratuity Fund Scheme managed by the LIC of
India is a defined plan. The present value of obligation based on
actuarial valuation using the Projected Unit Credit Method is being
determined and any effect thereof will be provided / accounted as and
when finalized.
c) Compensated Absences
The company has provided for the leave encashment liability at the
balance sheet date based on permissible accumulated leave balance of
the employees at the last salary drawn. Liability as per actuarial
valuation is being determined and any effect thereof will be provided /
accounted as an when finalized. The company has no defined benefit plan
for this purpos as yet.
8 Information pursuant to Part IV of Schedule VI to the Companies Act,
1956. Balance Sheet abstract and general business profile and cash flow
statement pursuant to clause 32 of listing agreement are annexed
hereto.
9 Figures for previous year have been rearranged/regrouped wherever
necessary.
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