Mar 31, 2021
In common with many business of similar size and organization, the Company''s system of control depends upon the close involvement of directors where independent confirmation of completeness of accounting records was, thereof, not available, we have accepted assurance from directors that all transactions have been reflected in the records of the Company.
The basic earnings per share is computed by dividing the net profit attributable to equity shareholders for the year by the weighted average number of equity shares outstanding during the reporting year.
Particulars |
Current Year (in lakhs) |
Previous Year (in lakhs) |
Profit /(Loss) after Tax |
(222.70) |
(298.56) |
No. of shares(Weighted Avg. no. of Share) |
1250 |
1250 |
Earnings per share |
(0.18) |
(0.24) |
iii) According to the information available, the Company does not owe any sum to a small scale industry as defined in clause (i) of section 3 of the Industries (Development and Regulation) Act, 1951.
iv) The Company has not received any instruction from suppliers regarding their status under
the Micro, Small & Medium Enterprises Development Act,2006 and hence, disclosures if any, relating to amounts unpaid as at the yearend together with interest payable as required under the said Act have not been given.
v) The amount of interest paid by the company during the year ended 31st March, 2021 to Micro, Small Scale Industries & Medium enterprises is Nil.
The company does not have any credit policy, invoice are due for payment on presentation. Hence, date of invoice is considered as due date for payment.
Previous Year figures are regroup/rearrange whenever necessary.
Management has the view that as per the Binding Resolution Plan approved by the Honorable NCLT Kolkata all the pending demands before the respective tax authorities will be Nil by the virtue of para 1 to 4 of page 44 of the Binding Resolution Plan dated 09.05.2019
One of the creditor filed application with Honorable NCLT Kolkata based on which Tribunal has passed an Resolution Plan on 09.05.2019. As per the resolution plan Liability with Bank loan is settled at Rs.34.00 Crore out of which payment of Rs.12.001 crore has been made till 31st March, 2021 and employee due at Rs. 0.95 crore out of which payment of Rs 0.93 crore has been made till 31st March, 2021. For the said purpose Yashoda Inn Private Limited and Uneecops Solar Private Limited have agreed to finance the said plan. There has been a change in the Management and Key Managerial Person during the reporting period.
Jun 30, 2015
1. Based on the information available with the company, the principal
amount due to Micro, Small & Medium Enterprises, as defined under the
Micro, Small, and Medium Enterprises Development Act, 2006 (MSMED Act,
2006) is Rs, Nil (Previous year Rs, Nil). Further, no interest during
the year has been paid or payable under the terms of the MSMED Act,
2006.
2. Total stores and spare parts consumed during the year are Rs, 49.07
Lacs (Previous year Rs, 13.55 Lacs).
3. ACCOUNTING OF INVESTMENTS AS-13
In accordance with Accounting Standard (AS-13) of the Institute of
Chartered Accountants of India, the long term investments held by the
Company are to be carried at cost. Diminution in the value of some
investments if any has not been made as amount is not ascertainable in
view of market value is not available. The Company however does not
anticipate any decline being permanent in nature. Few shares have been
sold and relevant Long Term Capital Gain have been booked accordingly.
4. As per Accounting Standard 15 'Employee Benefits' the disclosures as
defined in the Accounting Standard are given below : Defined
Contribution Plans
The Company has not recognized an expense of towards defined
contribution plans (Previous year NIL).
Defined Benefit Plans
In respect of gratuity liability, under defined benefit plan, the
company has set up a Group Gratuity Scheme by entering into a scheme of
insurance with Life Insurance Corporation of India, for providing
Gratuity benefits to its employee and a sum of Rs,. 2.50 Lakhs
(Previous Year NIL) has been contributed during the year to Marsons
Electrical Ltd., Group Gratuity Scheme with Life Insurance Corporation
of India.
5. CONTINGENT LIABILITIES AND CONTINGENT ASSETS
Aggregate amount of guarantees furnished by the banks on behalf of the
company to various State Electricity Board are Rs,. 1,917.62 lacs
(Previous year Rs,. 2,481.00 lacs) which are secured by deposits of
Fixed Deposit Receipts amounting to Rs,. 115.08 lacs (previous year
Rs,. 303.61 lacs) with banks.
6. RELATED PARTY DISCLOSURES AS REQUIRED BY AS-18
"Related party disclosures" are given below: 1) Relationships:
a) Key Management Personnel and their relatives : Mr. G.C. Kotia
Mr. Akhilesh Kotia
Mrs. Charu Kotia
Mr. Harshvardhan Kotia
b) Enterprises over which the Key Management personnel and/or their
relatives have significance influence :
1) Advance Powerinfra Tech Ltd.
2) Marsons Textiles Ltd.
3) M-Secure HR Services Pvt. Ltd.
4) M-Trust Capital Advisory Pvt. Ltd.
5) Marsons Infomedia Pvt. Ltd.
6) Marsons Research Institute
7. RESEARCH AND DEVELOPMENT EXPENSES
In pursuit of Research and Development endeavors the company is
continuously incurring R & D expenditure both on Capital and Revenue
which is shown as part of regular heads of accounts in fixed assets and
in Profit and Loss account respectively. Revenue expenditure on
research & development activities accounted for under their natural
heads of revenue expenses accounts is Rs,. 156.91 lacs. (previous Year
Rs,. 236.20 Lacs) Capital expenditure on research & development
activities accounted for under their natural heads of Fixed assets
accounts is Rs,. 328.00 Lacs (Previous year Rs,. 6.42 Lacs)
8. The figures for the current financial year are for nine months
period.
Mar 31, 2014
1 ACCOUNTING OF INVESTMENTS AS-13
In accordance with Accounting Standard (AS-13) of the Institute of
Chartered Accountants of India, the long term investments held by the
Company are to be carried at cost. Diminution in the value of some
investments if any has not been made as amount is not ascertainable in
view of market value is not available. The Company however does not
anticipate any decline being permanent in nature.
2 As per Accounting Standard 15 ''Employee Benefits'' the disclosures as
defined in the Accounting Standard are given below : Defined
Contribution Plans The Company has not recognised an expense of towards
defined contribution plans (Previous year NIL).
Defined Benefit Plans
In respect of gratuity liability, under defined benefit plan, the
company has set up a Group Gratuity Scheme by entering into a scheme of
insurance with Life Insurance Corporation of India, for providing
Gratuity benefits to its employee and a sum of R. Nil (Previous Year
NIL) has been contributed during the year to Marsons Electrical Ltd.,
Group Gratuity Scheme with Life Insurance Corporation of India. The
company is yet to make funding to LIC to the extent of R.35.03 lacs.
3 CONTINGENT LIABILITIES AND CONTINGENT ASSETS
Aggregate amount of guarantees furnished by the banks on behalf of the
company to various State Electricity Board are R. 2,481.00 lacs
(Previous year R. 2,608.33 lacs) which are secured by deposits of Fixed
Deposit Receipts amounting to R.303.61 lacs (previous year R. 336.57
lacs) with banks.
4 COMMISSION TO DIRECTOR
Directors'' Remuneration includes payment to Managing Director with
commission Current Year NIL (Previous year Nil including commission).
5 RELATED PARTY DISCLOSURES AS REQUIRED BY AS-18
"Related party disclosures" are given below: 1) Relationships:
a) Key Management Personnel and their relatives : Mr. G.C. Kotia
Mr. Akhilesh Kotia
Mrs. Charu Kotia
Mr. Harshvardhan Kotia
b) Enterprises over which the Key Management personnel and/or their
relatives have significance influence :
1) Advance Powerinfra Tech Ltd. (Formerly Marson''s Power &
Infrastructure Dev. Ltd)
2) Marsons Properties Pvt. Ltd. (formerly Marsons Board Pvt. Ltd.)
3) Marsons Logistics Pvt. Ltd.
4) M-Secure HR Services Pvt. Ltd. (formerly Marsons Metals Pvt. Ltd.)
5) Marsons Petro Products Ltd.
6) M-Trust Capital Advisory Pvt. Ltd. (Formerly Marsons Powergen Pvt.
Ltd.)
6 RESEARCH AND DEVELOPMENT EXPENSES
In pursuit of Research and Development endeavors the company is
continuously incurring R & D expenditure both on Capital and Revenue
which is shown as part of regular heads of accounts in fixed assets and
in Profit and Loss account respectively. Revenue expenditure on
research & development activities accounted for under their natural
heads of revenue expenses accounts is R.236.20 lacs. (previous Year R
212.30 Lacs) Capital expenditure on research & development activities
accounted for under their natural heads of Fixed assets accounts is R
6.42 Lacs (Previous year R 23.33 Lacs)
7 Break up of balance in Trade Receivables of over 6 months and others
have been taken as worked out by the concurrent auditors as appointed
by the bankers of the company.
8 The figures for the current financial year are for nine months
period.
9 In view of the revision to the Schedule VI as per notification
issued by the Central Government, the financial statements for the year
ended 31st March, 2014 have been prepared as per the requirements of
the revised Schedule VI to the Companies Act, 1956.
Jun 30, 2013
1 Based on the information available with the company, the principal
amount due to Micro, Small & Medium Enterprises, as defined under the
Micro, Small, and Medium Enterprises Development Act, 2006 (MSMED Act,
2006) is R Nil (Previous year R Nil). Further, no interest during the
year has been paid or payable under the terms of the MSMED Act, 2006.
2 Total stores and spare parts consumed during the year are R 24.61
Lacs (Previous year R 33.30 Lacs).
3 ACCOUNTING OF INVESTMENTS AS-13
In accordance with Accounting Standard (AS-13) of the Institute of
Chartered Accountants of India, the long term investments held by the
Company are to be carried at cost. Diminution in the value of some
investments if any has not been made as amount is not ascertainable in
view of market value is not available. The Company however does not
anticipate any decline being permanent in nature.
4 As per Accounting Standard 15 ''Employee Benefits'' the disclosures as
defined in the Accounting Standard are given below : Defined
Contribution Plans
The Company has not recognised an expense of towards defined
contribution plans (Previous year R 8.80 Lacs). Defined Benefit Plans
In respect of gratuity liability, under defined benefit plan, the
company has set up a Group Gratuity Scheme by entering into a scheme of
insurance with Life Insurance Corporation of India, for providing
Gratuity benefits to its employee and a sum of R. Nil (Previous Year R.
7.50 lacs) has been contributed during the year to Marsons Electrical
Ltd., Group Gratuity Scheme with Life Insurance Corporation of India.
The company is yet to make funding to LIC to the extent of R.35.03
lacs.
5 CONTINGENT LIABILITIES AND CONTINGENT ASSETS
Aggregate amount of guarantees furnished by the banks on behalf of the
company to various State Electricity Board are R. 2,608.33 lacs
(Previous year R. 1,980.81 lacs) which are secured by deposits of Fixed
Deposit Receipts amounting to R.336.57 lacs (previous year R. 290.71
lacs) with banks.
6 COMMISSION TO DIRECTOR
Directors'' Remuneration includes payment to Managing Director with
commission R. 6.60 (Previous year R. 20.00 lacs).
7 RELATED PARTY DISCLOSURES AS REQUIRED BY AS-18
"Related party disclosures are given below: 1) Relationships:
a) Key Management Personnel and their relatives : Mr. G.C. Kotia
Mr. Akhilesh Kotia Mrs. Charu Kotia
b) Enterprises over which the Key Management personnel and/or their
relatives have significance influence :
1) Advance Powerinfra Tech Ltd. (Formerly Marson''s Power &
Infrastructure Dev. Ltd)
2) Marsons Properties Pvt. Ltd. (formerly Marsons Board Pvt. Ltd.)
3) Marsons Logistics Pvt. Ltd.
4) M-Secure HR Services Pvt. Ltd. (formerly Marsons Metals Pvt. Ltd.)
5) Marsons Petro Products Pvt. Ltd.
6) M-Trust Capital Advisory Services Pvt. Ltd. (Formerly Marsons
Powergen Pvt. Ltd.)
8 RESEARCH AND DEVELOPMENT EXPENSES
In pursuit of Research and Development endeavors the company is
continuously incurring R & D expenditure both on Capital and Revenue
which is shown as part of regular heads of accounts in fixed assets and
in Profit and Loss account respectively. Revenue expenditure on
research & development activities accounted for under their natural
heads of revenue expenses accounts is R.212.30 lacs. (previous Year R
113.50 Lacs) Capital expenditure on research & development activities
accounted for under their natural heads of Fixed assets accounts is R
23.33 Lacs (Previous year R 53.31 lacs)
9 Break up of balance in Trade Receivables of over 6 months and others
have been taken as worked out by the concurrent auditors as appointed
by the bankers of the company.
10 The figures for the current financial year are for twelve months
period.
11 In view of the revision to the Schedule VI as per notification
issued by the Central Government, the financial statements for the year
ended 30th June, 2013 have been prepared as per the requirements of the
revised Schedule VI to the Companies Act, 1956.
Mar 31, 2011
1. Aggregate amount of guarantees furnished by the banks on behalf of
the company to various State Electricity Board are 25,46,00,041
(Previous year 15,54,30,517) which are secured by deposits of Fixed
Deposit Receipts amounting to 1,77,05,000 (previous year 2,02,95,845)
with banks.
2. The company has during the year recognized an expense of 3,79,545
(Previous year 8,79,545) towards defined contribution plans.
3. In respect of gratuity liability, under defined benefit plan, the
company has set up a Group Gratuity Scheme by entering into a scheme of
insurance with Life Insurance Corporation of India, for providing
Gratuity benefits to its employee and a sum of 2,50,000(Previous Year
7,50,000) has been contributed during the year to Marsons Electrical
Ltd., Group Gratuity Scheme with Life Insurance Corporation of India.
The company is yet to make funding to LIC to the extent of 32,14,125.
4. Loans & Advances and Sundry Creditors include dues from Companies
under the same management 51,51,189 (Previous year 1,66,66,738).
5. Research and Development
In pursuit of Research and Development endeavors the company is
continuously incurring R & D expenditure both on Capital and Revenue
which is shown as part of regular heads of accounts in fixed assets and
in Profit and Loss account respectively. The Company has started
recognizing expenses incurred on R & D both on Capital and Revenue
which are as below:
a) Revenue expenditure on research & development activities accounted
for under their natural heads of revenue expenses accounts is
5,86,86,370.
b) Capital expenditure on research & development activities accounted
for under their natural heads of fixed assets accounts is 7,83,17,267.
6. Based on information made available with the Company, there are no
dues to micro and small enterprises as defined in Micro, Small and
Medium Enterprises Development Act, 2006. Further no interest during
the year has been paid or payable under the terms of this Act.
7. All the debtors, creditors & other receivables from/to the parties
are subject to confirmation.
8. Out of sanctioned capital subsidy by Govt. of West Bengal on
capital investment of 15 lacs, the company has received and accounted
for of a sum of 12.50 lacs, and pending amount will be accounted on
receipt.
9. Directorsà Remuneration includes payment to Managing Director with
commission 40,00,000(Previous year 19,95,000). Contribution to
Provident Fund & Other includes 33,680 paid for Directors.
10. In accordance with Accounting Standard (AS13) of the Institute of
Chartered Accountants of India, the long term investments held by the
Company are to be carried at cost. Diminution in the value of some
investments if any has not been made as amount is not ascertainable in
view of market value is not available. The Company however does not
anticipate any decline being permanent in nature.
11. Current Account with the Directors having credit balances of
19,99,667/- as on 31st March, 2011.
12. Previous year's figures have been re-arranged and/or re-grouped,
wherever necessary.
13. Additional information pursuant to the provisions of Part II of
the Schedule VI of the Companies Act, 1956.
a) Licensed Capacity Not applicable
b) Installed Capacity (Transformers) 5000MVA (5000000KVA)
c) Goods Manufactured Transformers (Power &
distribution)
d) Production, Stocks and Sales
14. Related Party Disclosures as required by AS-18"
"Related party disclosures" are given below
1) Relationships
a) Key Management Personnel and their relatives
Mr. G.C. Kotia
Mr. Akhilesh Kotia
Mrs. Charu Kotia
b) Enterprises over which the Key Management personnel
and/or their relatives have significance influence
1) Advance Power Infra Technologies Ltd. (Formerly
Marson's Power & Infrastructure Dev. Ltd)
2) Advance Power Technologies Ltd. (Formerly A.P.
Electrical Pvt. Ltd.)
3) Marsons Board Pvt. Ltd.
4) Marsons Logistics Pvt. Ltd.
5) Marsons Metals Pvt. Ltd.
6) Marsons Petro Products Pvt. Ltd.
7) Marsons Powergen Pvt. Ltd.
15. As the Company's business activities primarily falls within single
segment viz. Transformers, the disclosure requirement of Accounting
Standard "17 segment Reporting" issued by Institute of Chartered
Accountants of India is not applicable.
Mar 31, 2010
1. Aggregate amount of guarantees furnished by the banks on behalf of
the company to various State Electricity Board are Rs. 15,54,30,517
(Previous year Rs. 6,49,82,558) which are secured by deposits of Fixed
Deposit Receipts amounting to Rs. 2,02,95,845 (previous year Rs.
1,48,10,960) with banks.
2. The company has during the year recognized an expense of
Rs.8,79,545 (Previous year Rs. 1343795) towards defined contribution
plans.
3. In respect of gratuity liability, under defined benefit plan, the
company has set up a Group Gratuity Scheme by entering into a scheme of
insurance with Life Insurance Corporation of India, for providing
Gratuity benefits to its employee and a sum of Rs. 7,50,000 (Previous
Year 7,50,000) has been contributed during the year to Marsons
Electricals Ltd., Group Gratuity Scheme with Life Insurance Corporation
of India. The company is yet to make funding to LIC to the extent of
Rs.3054734.
4. Loans & Advances and Sundry Creditors / Sundry Debtors include
Due to a Company under the same management NIL (Previous year
Rs.2367605.14) & Due from a Company under the same management
Rs.16666738.19 (Previous year Rs. 12261825.90).
5. Research and Development
In pursuit of R & D endeavors the company is continuously incurring R&D
expenditure both on Capital and Revenue which is shown as part of
regular heads of accounts in fixed assets and in Profit and Loss
Account respectively.
6. Based on information made available with the Company, there are no
dues to micro and small enterprises as defined in Micro, Small and
Medium Enterprises Development Act, 2006. Further no interest during
the year has been paid or payable under the terms of this Act.
7. All the debtors, creditors & other receivables from/to the parties
are subject to confirmation.
8. Out of sanctioned capital subsidy by Govt, of West Bengal on
capital investment of Rs.15 lacs, the company has received and
accounted for of a sum of Rs. 12.50 lacs, and pending amount will be
accounted on receipt.
9. Directors Remuneration includes payment to Managing Director with
commission Rs. 19,95,000 - (Previous year Rs.1915000). Contribution to
Provident Fund & Other includes Rs.18,720 paid for Directors.
10. In accordance with Accounting Standard (AS13) of the Institute of
Chartered Accountants of India, the long term investments held by the
Company are to be carried at cost. Diminution in the value of some
investments if any has not been made as amount is not ascertainable in
view of market value is not available. The Company however does not
anticipate any decline being permanent in nature.
11. Current Account with the Directors having credit balances of
Rs.22,88,752 as on 31st March, 2010.
12. Previous years figures have been re-arranged and/or re-grouped,
wherever necessary.
13. i) Including Excise Duty scrap sale of Rs. 693672,50 (Previous
year Rs. 295895)
14. Related Party Disclosures
"Related party disclosures as required by AS-18" "Related party
disclosures" are given below: 1. Relationships:
a) Key Management Personnel and their relatives : Mr. G.C. Kotia
Mr. Akhilesh Kotia Mrs. Charu Kotia Mr. Nikhilesh Kotia
b) Enterprises over which the Key Management personnel and/or their
relatives have significance influence : Advance Power Infra
Technologies Ltd. (Formerly Marsons Power & Infrastructure Dev. Ltd)
Advance Power Technologies Ltd. (Formerly A.P. Electrical Pvt. Ltd.)
15. As the Companys business activities primarily falls within single
segment viz. Transformers, the disclosure requirement of Accounting
Standard "17 segment Reporting" issued by Institute of Chartered
Accountants of India is not applicable.
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