Mar 31, 2013
1. RELATED PARTY TRANSACTIONS, TRANSACTIONS WITH RELATED PARTIES :
Amount of Outstanding
Unsecured Loans taken 10,18,500/-
Amount of Outstanding
Unsecured Loans Given 2,13,54,350/-
2. PREFERENTIAL ISSUE OF EQUITY SHARES:
During the year the company has made a preferential issue of 40,00,000
of Rs. 10/- each at par to the investors who have subscribed to the
issue with the aim of maximizing the returns to the shareholders.
3. There is no earning in Foreign Exchange nor any expenditure in
foreign Exchange.
4. There are no Sundry Creditors at the end of the year who has
registered as Small Scale Industries. Hence relevant information is not
applicable.
5. Previous year figures have been regrouped, rearranged and recosted
to Correspond the figures of the current year.
Mar 31, 2012
A)Rights, preferences and restrictions attached to Equity shares
The Company has one class of equity shares having a par value of `
10each. Each shareholder is eligible for one vote per share held. The
dividend proposed by the Board of Directors,if any is subject to the
approval of the shareholders in the ensuingAnnual General Meeting,
except in case of interim dividend. In the event of liquidation, the
equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion
to their shareholding.
1. RELATED PARTY TRANSACTIONS; TRANSACTIONS WITH RELATED PARTIES:
Amount of Outstanding
Unsecured Loans taken 13,03,000/
Amount of Outstanding
Unsecured Loans Given 4,58,00,000/-
2. There is no earning in Foreign Exchange nor any expenditure in
foreign Exchange.
3. There are no Sundry Creditors at the end of the year who has
registered as Small Scale Industries. Hence relevant information is not
applicable.
4. Previous year figures have been regrouped, rearranged and recosted
to Correspond the figures of the current year.
Mar 31, 2011
1. The company has not made any investment in quoted Shares and
unquoted shares. The company has sold during the year shares of Rs.
25,000 of Pooja Ferro Alloys Pvt. Ltd at cost i.e. Rs.25,000/-.
2. RELATED PARTY TRANSACTIONS;
Associates:
Annanaya Enterprises
Pankaj Dhoot HUF
P.C.Dhoot HUF
Total Investments P. Ltd
Dhoot Industries Ltd
Pankaj Dhoot & Co.
3. SEGMENT REPORTING (Accounting Standard-17)
The company operates under single business segment of Providing of
Finance for Housing and Business.
4 There is neither earning in Foreign Exchange nor any expenditure in
foreign Currency.
5. There are no Sundry Creditors at the end of the year who has
registered as Small Scale Industries. Hence relevant information is not
applicable.
6. Previous year figures have been regrouped, rearranged and recasted
to Correspond to the figures of the current year.
Mar 31, 2010
1) CONTINGENT LIABILITIES NOT PROVIDED FOR:
1. In respect of penalty proceedings u/s 271(1) (c) of Income tax Act,
1961 for the assessment Year 1997-98, 1999-00 & 200-01 initiated on the
quantum of additions made which are under are not ascertainable.
2. The company has not deposited the amount due on allotment amounting
to Rs. 25000/- for the investment in the shares of Viraj Foregenings.
The amount is payable with interest @ 18 % per annum from 30-11-1996.
The shares may be forfeited non payment of allotment money.
3. The income tax assessment of the company has been completed up to
assessment year 2001-02. The total demand of Income Tax under Appeal
and in dispute is Rs. 26, 36,137/- pertaining to A.Y. 1992-93 and
1993-94. Pending decision of the appeal a sum of Rs. 10.00 Lacs has
been deposited by the company under protest. The same has been treated
as advance recoverable in cash or kind.
4. There is contingent liabilities of the company to the extent of Rs.
8,26,506/- to Madhya Pradesh state Electricity Board which is under
dispute and any interest if any on such outstanding dues of Rs.
49,71,514/- towards power charges payable to the board. In the absence
of any speculations for the same, the quantum is not ascertainable.
5. No provision has been made for annual listing fees since F.Y.
1998-99 for which company has been listed with Indore, Mumbai, Calcutta
and ahemdabad Stock exchanges.
6. No provision for gratuity has been made in respect of gratuity
payable to the staff, if Gratuity Act is applicable.
7. Balance of debtors, creditors and Loans and Advances are subject to
confirmations, reconciliation and adjustment, if any.
8. in absence of details from the registrar to issue the liability for
share application money could not be adjusted till date
9. Previous Year figures have been regrouped or rearranged to make the
comparable with current year figures.
10. No provision for Doubtful Debts of Rs. 38.69 Lacs has been made
out of which Rs. 2.36 Lacs are under dispute.
11. Deferred tax Assets have not been created in view of Accumulated
Loss and Unabsorbed Depreciation. This is in conformity of AS-22
"Accounting for Taxes on income" issued by ICAI.
12. Earnings in Foreign Exchange:
Export of Goods on F.O.B. basis during the year was Rs. Nil (Previous
Year Rs. Nil). Foreign Exchange outgo was Rs. Nil (Previous Year Rs.
Nil).
13. The commercial production of the company was suspended from the
month of October, 1999 and further on account of seizure and auction of
the assets of the company by Madhya Pradesh State Electricity Board.
14. The Madhya Pradesh State Electricity Board, Mandsaur has auctioned
the factory along with fixed assets lying in the factory fro Rs. 45.00
Lacs. The balance of Rs. 49, 71,514/- excluding the claim of expenses
on auction is still outstanding The company has filed suit before
District Judge, Mandsaur on 24-06-02 challenging the legality of the
auction. The same is pending till the date of audit
15. The figures have been rounded off to the nearest rupee.
16. Additional information pursuant to the provision of the Part II of
schedule - VI to the companies Act, 1956 is as per annexure.
Mar 31, 2002
1. CONTINGENT LIABILITIES NOT PROVIDED FOR :
(Rs. in Lacs) (Rs. in Lacs)
(Cunentyear) (Previous Year)
a. Inrespect of telephone bills in the
name of company. the matter is pending
before consumer forum (A sum of
Rs. 0.41 Lacs has been paid under protest). 0.51 0.51
b. In respect of capital subsidy
received from Govt. or M.P. - 1.50
c. The company has not deposited the amount due on allotment amounting
to Rs. 25,000/- for the investment in the shares of Viraj Forgings. The
amount is payable with interest @ 18% per annum from 3011.96. The
shares may be forfeited nonpayment of allotment money.
d. The Income Tax Assessment of the company has been completed upto
assessment year 2000-2001. The total demand of Income-tax under appeal
and in dispute is Rs. 26,36,137/- pertaining to A.Y. 92-93 to 93-84.
Pending decision of the appeal a sum of Rs. 10,00,000/- has been
deposited by the company under protest The same has been treated as
advance recoverable in cash or kind
e. There is continegent liability of the company to the extent of Rs.
8,26,506/- to Madhya Pradesh State Electricity Board wich is under
disupte.
f. No provision has been made for annual listing fees since F.Y.
1998-99 for wich company has been listed with Idore. Mumbai. Calcutta
and Ahmedabad Stock Exchanges.
2. 1/10th of Miscellaneous Expenditure i.e. preliminary and public
issue expenses etc,
3. No provision for gratuity has been made in respect of gratuity
payable to the staff, if gratuity Act, is applicable.
4. Balance Debtors, Creditors and and Loan & advance are subject to
confirmation, reconciliation and adjustments,if any
5. In absence of details from the Registration to issue, the liability
for share application maoney could not be adjusted till date.
6. Previous year figures have been regrouped or rearranged to made them
comparable with current year figures. The computer error occurred in
figures of loss for the previous year has been correctly reflected in
the previous year figures.
7. No provision for doubtful debts of Rs. 42.15 lacs has been made, out
of which Rs.2.36 lacs are under dispute.
8. The commercial production of the company has been suspended from the
month of May, 1999 and further on account of seizure and auction of the
assets of the company by Madhya Pradesh State Electrity Board.
9. The Madya pradesh State Electricity Board, Mandsaur has auctioned
the factory alongwith fixed assets lying in the factory for Rs. 45
lacs. The balance of Rs.49,71,514/- exduding the claim of expenses on
auction is still outstanding. The company has filed suit before
District Judge, Mandsaur on 24.6.02 challanging uction. The same is
pending till the date of audit
10. The figures have been rounded off to nearest rupee.
11. Additional information pursuant to the provision of the part II of
schedule VI to the company signature to schedule `A to `O For C.H.
Padliya & Co. Chartered Accountants For Mandsaur Ferro Alloys Ltd.
(C.H. Padliya) (V.K. Jain) (N.D. Parekh)
Partner. Managing Director Director
Place: Botalganj, Mandsaur
Dated: This 13th Day of August 2002.
Mar 31, 2000
1. CONTINGENT LIABILITIES NOT PROVIDED FOR :
a. In respect of telephone bills in the name of company, the matter is
pending before consumer forum. (A sum of Rs. 0.41 Lacs has been paid
under protest).
b. In respect of capital subsidy received from Govt. or M.P.
c. The company has not deposited the amount due on allotment amounting
to Rs. 25.000/- for the investment in the shares of Viraj Foregenings
the amount is payable with interest @ 18% per annum form 30-11-96. The
shares may be forfeited on non deposition of allotment money
d. The Income Tax Assessment of the company has been completed upto
assessment year 1997-98. The total demand of Income-Tax under appeal
and in dispute is Rs. 26,36,137/- pending decision of the appeal a sum
of Rs. 10,00,000/- has been deposited by the company under protest. The
same has been treated as advance recoverable in cash or kind.
2. Depreciation on Fixed assets has been provided for the entire
financial year on straight line method at the rates prescribed by
schedule XIV (as amended) to the companies Act, Depreciation in
respect of addition to such assets has been provided on prorata basis.
3. 1/10th of Miscellaneous Expenditure i.e. preliminary and public
issue expenses etc. have been written off for the year.
4. No provision for gratuity has been made in respect of gratuity
payable to the staff, if gratuity Act, is applicable.
5. Balance of Debtors, Creditors and Loan & advances are subject to
confirmations, reconciliation and adjustments, if any.
6. In absence of details from the Registrar to issue, the liability for
share application money could not be adjusted till date.
7. Previous year figures have been regrouped or rearranged to made them
comparable with current year figures.
8. No provision for the bonus payable to employees has been made in
view of losses.
9. No provision for doubtful debts of Rs. 3.85 lacs and advance to
contractors of Rs. 0.47 lacs has been made.
10. The commercial production of the company has been suspended from
the month of May 1999.
11. The figures have been rounded off to nearest rupee.
Mar 31, 1999
1. CONTINGENT LIABILITIES NOT PROVIDED FOR :
(Rs. in Lakhs)
Current Year Previous Year
a) In respect of telephone bills in the 0.51 0.51
name of Company, the matter is pending
before Consumer Forum. (A sum of
Rs. 0.41 lakhs has been paid under
protest)
b) In respect of Capital subsidy 1.50 1.50
received from Govt. of M.P.
c) The Company has not deposited the amount due on allotment amounting
to Rs. 25,000/- for the investment in the Shares of Virai Forgings Ltd.
The amount is payable with interest @ 18% per annum from 30.11.1996.
The Shares may be forfeited on non deposition of allotment money.
d) The Income Tax Assessment of the Company has been completed upto
Assessment Year 1996-97. The total demand of Income Tax under appeal
and dispute is Rs. 30,71,351/- Pending decision of the appeal a sum of
Rs. 10,00,000/- has been deposited by the Company under protest. The
same has been treated as Advance recoverable in cash or Kind.
2. Depreciation on Fixed Assets has been provided for the financial
(****) straight line method at the rates prescribed by schedule XIV (as
amended) to the Companies Act. Depreciation in respect of addition to
such assets has been provided on prorata basis.
3. 1/10th of Miscellaneous Expenditure i.e preliminary, public issue
expense etc. have been written off for the year.
4. As advised, provisions of Gratuity Act are not applicable to the
Company.
5. Balance of Debtors, Creditors and Loan & Advances are subject to
confirmation, reconciliation and adjustment, if any.
6. In absence of details from the Registrar to issue, the liability for
Share Application Money could not be adjusted till date.
7. Previous year figures have been regrouped or rearranged to make them
comparable with current year figures.
8. No provision for the bonus payable to employees has been made in
view of losses.
9. No provision for interest payable on unsecured loans has been made
in view at losses.
10. No provision for Doubtful Debts of Rs. 3.85 lacs and Advance to
contractors of Rs. 0.47 lacs been made.
11. The figures have been rounded off to nearest rupee.
12. Additional information pursuant to the provision of the Part II of
Schedule VI to the companies Act, 1956 is as per Annexure.
Mar 31, 1998
1. Depreciation on Fixed Assets has been provided for the entire financial Year on straight line method at the rates prescribed by schedule XIV (as amended) to the Companies Act. Depreciation in respect of addition to such assets has been provided on prorata basis.
2. 1/10th of Miscellaneous Expenditure i.e. preliminary, public issue
expense etc. have been written off for the year.
3. As advised, provisions of Gratuity Act are not applicable to the
Company.
4. As per the practise followed by the Company, Excise duty on finished goods liable to excise duty lying at the factory is accounted for on the removal of goods for sale.
5. In absence of details from the Registrar to Issue, the liability for Share Application Money could not be adjusted till date.
6. Balance of debtors, creditors and loan and advances are subject to
confirmations, renconciliation and adjustments, if any.
7. Modvat credit is accounted for by reducing the purchase cost of
related material.
Mar 31, 1997
1. Depreciation on Fixed Assets has been provided for the entire
financial Year on straight line method at the rates prescribed by
schedule XIV (as amended) to the Companies Act. Depreciation in
respect of addition to such assets has been provided on prorata basis
2. 1/10th of Miscellaneous Expenditure i.e preliminary, public issue
expense etc. have been written off for the year.
3. As advised, provisions of Gratuity Act are not applicable to the
Company.
4. As per the practice followed by the Company. Excise duty on finished
goods liable to excise duty lying at the factory is accounted for on the removal of goods for sale.
5. Balance of debtors, creditors and loan and advances are subject to
confirmations, reconciliation and adjustments, if any.
6. Modvat credit is accounted for by reducing the purchase cost of
related material.
7. Previous year figures have been regrouped or rearranged to make them
comparable with current Year figures
8. No provision for the bonus payable to employees has been made in
view of losses.
Mar 31, 1996
1. CONTINGENT LIABILITIES NO PROVIDED FOR:
a) Bills discounted against LIC from Nil 40.31
Dena Bank and Punjab National Bank,
Mandsaur
b) In respect of telephone bills in 0.51 0.41
the name of the Company, the matter
is pending before Consumer Forum (A sum
of Rs.0.41 lakhs has been paid under
protest during the year)
c) In respect of Capital subsidy received
from Govt. of M.P. 1.50 1.50
d) In respect of following bank guarantees.
i) Bank Guarantee given to Tata Iron &
Steel Co. Ltd., Calcutta. Against
Letter of Credit. - 40.00
ii) Bank Guarantee to Central Excise,
Ratlam against release of Seized Truck. - 0.75
iii) Bank Guarantee to Central Excise,
Ratlam in respect of release of
seized goods for Excise duty. - 0.06
e) The Income Tax Assessment of the Company has been
completed upto Assessment Year 1993-94. The total demand
of Income Tax under appeal and dispute is Rs.27,22,900/-.
Pending decision of the appeal a sum of Rs. 10,00,000/- has
been deposited by the Company under protest. The same has
been treated as advance recoverable in cash or kind.
f) The order of Excise Authorities for the demand & Penalty
of Rs.46,500/- has been set aside, pending revised orders
no provision has been made.
2. A provision of Rs.43,00,000/- for the Income Tax for
Asstt. year 1996-97 has been made, against the provision a
sum of Rs.45,00,000/- has been paid as advance tax.
3. Depreciation on Fixed assets have been provided for the
entire financial year on Straight line method at the rates
prescribed under Schedule XIV (as amended) to the Companies
Act, 1956 Depreciation in respect of addition to such
assets has been provided on prorata basis.
4. 1/10th of Miscellaneous Expenditure i.e. preliminary
public issue expenses etc. have been written off for the
year.
5. As advised, provisions of Gratuity Act are not
applicable to the Company.
6. As per the practice followed by the Company, Excise duty
on finished goods liable to excise duty lying at the
factory is accounted for on the removal of goods for sale.
7. Balances of debtors, creditors and loan and advances are
subject to confirmations, rehabilitation and adjustments, if
any.
8. Modvat credit is accounted for by reducing the purchase
cost of related material.
9. The commercial production from the Unit No.11 commenced
on 01.11.1995.
Mar 31, 1995
1. CONTINGENT LIABILITIES NOT PROVIDED FOR:
(Rs. in Lacs)
Current Previous
Year Year
a) Security deposit and service
line charges payable to M.P.E.B.
in six equal monthly instalements. 8.72 5.65
b) Bills discounted against L/c from
Dena Bank and PNB Mandsaur. NIL 40.31
c) In respect of telephone bills
in the name of Company, the matter
is pending before Consumer Forum 0.41 0.41
d) In respect of Capital subsidy
received from Govt. of M.P. 1.50 1.50
e) In respect of following bank
guarantees.
i) Bank guarantee given to Tata
Iron Steel Co. Ltd. Calcutta.
Against Letter of Credit. 40.00 -
ii) Bank gurantee to Central
Excise, Ratlam against
release of Seized Truck. 0.75 -
iii) Bank guarantee to Central
Excise, Ratlam in respect of
release of seized goods for
Excise duty. 0.06 -
2. Depreciation on Fixed assets have been provided for the
entire financial Year on straight line method at the rates
prescribed by schedule XIV (as amended) to the Companies
Act. Depreciation in respect of addition to such assets
has been provided on prorata basis. (Fixed assets costing
below Rs. 5,000/- purchased during the year have been fully
written off during the year.
3. 1/10th of Miscellaneous Expenditure i.e. preliminary,
public issue expenses etc. have been written off for the
year.
4. As advised, provision of provident Fund and Gratuity Act
are not applicable to the Company.
5. Previous year figures have been regrouped or rearranged
to make them Comparable with current Year figures.
6. The figures have been rounded off to the nearest rupee.
7. As per the practice followed by the Company, Excise duty
on finished goods liable to excise duty lying at the
factory is accounted for on the removal of goods for sale.
8. Balance of debtors, creditors and loan and advances are
subject to confirmations, reconciliation and adjustments,
if any.
9. Modvat credit is accounted for by reducing the
purchase cost of related material.
10. The Company's management reviews on a periodical basis
the advances and debtors outstanding with a view to
determining whether the same etc. are good or doubtful (and
to their collectibility). The management determines whether
the same are doubtful or bad wholly or in part. On the
basis of such review and in pursuance of other prudent
financial considerations, the board of Directors determines
the extent of provision required to be created in respect
of the same. Accordingly no provision for doubtful debts
has been made.
11. No Income tax provision has been made, as the Company
has been advised that there will be no taxable income in
current year.
12. Additional information pursuant provision of the
Part-II of Schedule VI to the Companies Act, 1956 is as per
annexure.
Mar 31, 1994
1. 1/10th of Miscellaneous Expenditure i.e. Preliminary public issue etc. expenses have been written off for the year
2. As per the practice followed by the Company, Excise duty on finished goods liable to Excise duty lying at the factory is accounted for on the removl of goods for sale.
3. The Company's management reviews on a periodical basis the loan assets outstanding with a view to determining whether the loans etc. are good, bad or doubtful (and at otheir collectiility). The management determines whether the loan assets is doutful or bad wholly or inpart. On the basis of such review and in persuance of other prudent financial considerations, the board of Directors determines the extent of provision required tobe created in respect of such loan assets. Accordingly no provision for doubtful debts has been made.
4. No Income tax provision has been made as the Company has been advised that there will be no taxable income in current year.
5. Depreciation on Fixed assets has been provided for the entire financial year on straight line method at trhe rates prescribed by schedule XIV (as amended) to the Companies Act. Depreciation in respect of addition to such assets has been provided on prorata basis. Fixed assets costing below Rs.5,000/- purchased during the year have been fully written off during the year.
Mar 31, 1993
The company has commenced commercial production from 1st August,
1992.
Depreciation on Assets has been provided for the entire Financial
year on straight line method at the rate prescribed by schedule
XIV to the Companies (Amended) Act. 1988 read with Section
205(2)(b) of the Companies Act, 1956. Depreciation in respect of
addition to and the deductions from assets has been charged on
pro-rata basis with reference to the period of use of such
assets.
The provision for Depreciation for Multiple shifts wherever
applicable as per records and as advised has been made on the
basis of the actual utilisation of respective eligible assets.
Share issue and preliminary Expenses has been advised to write
off over a period of 10 years and accordingly 1/10 of these
expenses have been written off during the period.