Mar 31, 2015
1. Corporate Information
Servo tech Engineering Industries Ltd. (the Company) is a public
company domiciled in India and incorporated under the provisions of the
companies Act, 1956. Its share are listed on Bombay Stock Exchange Ltd.
The Company is engaged in the trading & Supply of turnkey projects of
Solvent Extraction Plants, Castor Oil Plants, Edible Oil Plants, Oil
Refinery Plants, Vanaspati Plants, and Dairy & Food Processing Plants,
Chemical/Petrochemical, Pharmaceutical Plants etc. Distilleries & its
all type of equipment's, Accessories, Spare parts & Components.
Mar 31, 2014
1. Corporate Information
Servotech Engineering Industries Ltd. (the Company) is a public company
domiciled in India and incorporated under the provisions of the
companies Act, 1956. Its share are listed on Bombay Stock Exchange Ltd.
The Company is engaged in the trading & Supply of turnkey projects of
Solvent Extraction plants, Castor Oil Plants, Edible Oil plants, Oil
Refinery Plants, Vanaspati Plants, and Dairy & food Processing Plants,
Chemical/Petrochemical, Pharmaceutical Plants etc. Distilleries & its
all type of equipment''s, Accessories, Spare parts & Components.
2.1 All Balances of sundry Debtors, Creditors, Loan & Advances are
subject to confirmations
2.2 Provision has been made for Income tax as per the provisions if
Income Tax Act 1961.
2.3 In order to comply with the requirement of the Micro, Small and
Medium Enterprises Development Act 2006, as the company has not
received any memorandum ( as required by to be filed by the suppliers
with the notified authority under Micro, Small and Medium Enterprises
Development Act 2006) claiming their status as micro or medium
enterprises the information as required to be given above is considered
to be NIL.
2.4 On accordance with the Accounting Standard on " Related Party
Disclosure"(AS-18),the disclosure in respect of transactions with the
company''s related parties are as follows :
a) Associate company
(in which some of directors are interested) : Lahoti Exports Pvt Ltd
b) Key Managerial Person: : R S Lahoti (Director)
c) Material Transaction with related Party : Nil
2.5 In the opinion of the Board of Directors all the current assets,
Loans & Advances are approximately of the value stated in the balance
sheet as at 31st march, 2014 if realized in the ordinary course of
business. The provision for depreciation and all known liabilities has
been made and is adequate and not in excess of amount reasonably
required.
2.6 In view of Accounting Standard -22 " Accounting for Taxes on
Income", deferred tax Assets has been considering lack of virtual
certainty of its realization of losses.
2.7. Previous year figures have been regrouped and rearranged,
wherever necessary.
Mar 31, 2013
1. Corporate Information
Servotech Engineering Industries Ltd. (the Company) is a public company
domiciled in India and incorporated under the provisions of the
companies Act, 1956. Its share are listed on Bombay Stock Exchange Ltd.
The Company is engaged in the trading & Supply of turnkey projects of
Solvent Extraction plants, Castor Oil Plants, Edible Oil plants, Oil
Refinery Plants, Vanaspati Plants, and Dairy & food Processing Plants,
Chemical/Petrochemical, Pharmaceutical Plants etc. Distilleries & its
all type of equipment''s, Accessories, Spare parts & Components.
Mar 31, 2012
1. Corporate Information
Servotech Engineering Industries Ltd. (the Company) is a public company
domiciled in India and incorporated under the provisions of the
companies Act, 1956. Its share are listed on Bombay Stock Exchange Ltd.
The Company is engaged in the trading & Supply of turnkey projects of
Solvent Extraction plants, Castor Oil Plants, Edible Oil plants, Oil
Refinery Plants, Vanaspati Plants, and Dairy & food Processing Plants,
Chemical/Petrochemical, Pharmaceutical Plants etc. Distilleries & its
all type of equipment's, Accessories, Spare parts & Components.
2.1 Trade Receivables including Rs.21,80,048/- which are doubtful for
recovery. The Management has taken necessary steps to recover the same.
The Management is hopeful about the recovery; hence no provision has
been considered.
2.2 Provision has been made for Income tax as per the provisions if
Income Tax Act 1961.
2.3 In order to comply with the requirement of the Micro, Small and
Medium Enterprises Development Act 2006, as the company has not
received any memorandum ( as required by to be filed by the suppliers
with the notified authority under Micro, Small and Medium Enterprises
Development Act 2006) claiming their status as micro or medium
enterprises the information as required to be given above is considered
to be NIL
2.4 On accordance with the Accounting Standard on " Related Party
Disdosure"(AS-18),the disclosure in respect of transactions with the
company's related parties are as follows :
a) Associate company
(in which some of directors are
interested) : Lahoti Exports Pvt Ltd
b) Key Managerial Person: : R S Lahoti (Director)
c) Material Transaction with
related Party :
M/s. Amitex Engg. Services P Ltd. : Purchase - Rs. 84,46,432.00
(Director - M M Lahoti Son of MD)
2.5 All Balances of sundry Debtors, Creditors, Loan 8i Advances are
subject to confirmations.
2.6 In the opinion of the Board of Directors all the current assets,
Loans & Advances are approximately of the value stated in the balance
sheet as at 31st march, 2012 if realized in the ordinary course of
business. The provision for depreciation and all known liabilities has
been made and is adequate and not in excess of amount reasonably
required.
Mar 31, 2011
1. In the opinion of Board, the current assets are approximately at
the value stated except doubtful debts as per notes no.4 & 6, as if
realized in the ordinary course of business.
2. The Principal & interest thereon payable to Oriental Bank of
Commerce on working capital loan had settled with ARCI Ltd with amount
of Rs. 70,00,000/-. And same has been already repaid.
3. No provision has been made for Bad debts which are considered as
doubtful of recovery.
4. No provision has been made for accrued liability on retirement
benefits i.e gratuity and encashment of leave as recommended by the
Institute of Chartered Accountants of India vide Accounting standard
No. 15, it is the practice of the company to account for this as and
when paid.
5. Provision has been made for Income tax as per the provisions if
Income Tax Act 1961.
6. As per the package scheme of Incentives issued by Sicom Ltd. under
Rule 31B of the Schedule to Government Notification U/s. 41 vide
Certificate No. 401407-S/R-31B/970 dated 24.03.1999. As per the
incentive scheme, the company is entitled to defer the Sales Tax
liability as per the returns / assessment pertaining to the period from
01.02.1999 to 31.05.2002. The amount of incentives availed during the
period will be repaid after expiry of incentive period. The Company has
availed the aforesaid incentives as under :
Apart from that the company had paid the sum of Rs. 10,20,205/- as full
& final payment according to Assessment order issued by concern
authority.
7. In order to comply with the requirement of the Micro, Small and
Medium Enterprises Development Act 2006, as the company has not
received any memorandum ( as required by to be filed by the suppliers
with the notified authority under Micro, Small and Medium Enterprises
Development Act 2006) claiming their status as micro or medium
enterprises the information as required to be given above is considered
to be NIL.
8. In accordance with the Accounting Standard on " Related Party
Disclosure"(AS-18),the disclosure in respect of transactions with the
company's related parties are as follows :
9. All Balances of sundry Debtors, Creditors, Loan & Advances are
subject to confirmations & reconciliation there of what's ever necessary
10. In view of Accounting Standard -22 " Accounting for Taxes on
Income", deferred tax Assets has been considering lack of virtual
certainty of its realization of losses.
I) Licensed Capacity : Not applicable
II) Installed : Not applicable
Units Produced : Refer to appoint no. III below
III) Quantitative details : Regarding Machineries, Equipments regarding
opening stock and fabrication works etc.
consumption and Turnover As the Company is engaged in the business of
supplying machineries, equipments and other materials as per customers
Specifications, it is no possible to give quantitative details of each
and every term. The company has not maintained record for raw materials
store and spare parts and work in progress.
11. Previous year figures have been regrouped and rearranged, wherever
necessary.
12. Balance Sheet Abstract and General Profile of the Company is
enclosed herewith.
Mar 31, 2010
1. In the opinion of Board, the current assets are approximately at
the value stated except doubtful debts as per notes no.4 & 6, as if
realized in the ordinary course of business.
2. The Principal & interest thereon payable to Oriental Bank of
Commerce on working capital loan had settled with ARCI Ltd with amount
of Rs. 70,00,000/-. Apart form that Rs. 50,00,000/- has been already
repaid.
3. No provision has been made for Bad debts which are considered as
doubtful of recovery.
4. No provision has been made for accrued liability on retirement
benefits i.e gratuity and encashment of leave as recommended by the
Institute of Chartered Accountants of India vide Accounting standard
No. 15, it is the practice of the company to account for this as and
when paid.
5. The company has advanced the sum of Rs. 19,25,000/- to contractors
towards fixed assets but they have not supplied materials till date. No
Provision has been made in books of accounts for Capital work in
progress of Rs. 19,25,000/- , which is considered on doubtful for
recovery.
6. Provision has been made for Income tax as per the provisions if
Income Tax Act 1961.
7. As per the package scheme of Incentives issued by Sicom Ltd. under
Rule 31B of the Schedule to Government Notification U/s. 41 vide
Certificate No. 401407-S/R-31B/970 dated 24.03.1999. As per the
incentive scheme, the company is entitled to defer the Sales Tax
liability as per the returns / assessment pertaining to the period from
01.02.1999 to 31.05.2002. The amount of incentives availed during the
period will be repaid after expiry of incentive period. The Company has
availed the aforesaid incentives as under :
8. In accordance with the Accounting Standard on " Related Party
Disclosure"(AS-18),the disclosure in respect of transactions with the
company's related parties are as follows :
9. All Balances of sundry Debtors, Creditors, Loan & Advances are
subject to confirmations & reconciliation there of what's ever necessary
10. In view of Accounting Standard -22 " Accounting for Taxes on
Income", deferred tax Assets has been considering lack of virtual
certainty of its realization of losses.
11. Previous year figures have been regrouped and rearranged, wherever
necessary.
12. Balance Sheet Abstract and General Profile of the Company is
enclosed herewith. Manufacturer of turnkey projects of Solvent
Extraction plants, Castor Oil Plants, Edible Oil plants, Oil Refinery
Plants, Vanaspati Plants, and Dairy & food Processing Plants,
Chemical/Petrochemical, Pharmaceutical Plants etc. Distilleries & its
all type of equipment's, Accessories, Spare parts & Components.
Signature to Schedule '1' to '18' as per our report of even date