Mar 31, 2015
1. In the opinion of the Board :
i) The current assets, loans and advances will realize in the ordinary
course of business, at least the amount at which these are stated in
the Balance Sheet
ii) Provision for all known liabilities have been made.
2. The balances of Sundry Debtors, Creditors, Loans and Advances are
subject to confirmation.
3. The Company has been informed by their suppliers that they are not
falling under the category of Small Scale Industries.
4. The company has a spinning unit at Dindigul, Tamilnadu. The
accounts of the Dindigul unit has been audited by S.M.M & Co.
-Chartered Accountants
5. Cash flow statement is enclosed as Annexure  1
6. The previous year's figures have been reclassified to conform to the
current year's classification.
Mar 31, 2014
1. Term Loan from Yes Bank secured by hypothecation of machinery
purchaseout of term loan , charge over the company''s Factory Building,
equitable mortgage of Industrial Property at Dombivali East, personal
guarantee of Directors Mr. Vinod Lath and Mr.Pradeep Roongta and
Corporate Guarantees of M/s Sunil Exim Pvt Ltd, M/s Sunil Print Pvt
Ltd, M/s Sunil Fabrics Pvt Ltd., M/s Sunil Synthetics Pvt Ltd and
owners of the property till the end of tenor of facility.
2. Loan from Edelweiss Housing Finanace Ltd secured by mortgage of
residential property at Sunbean May Flower chs Ltd , Peddar Road,
Mumbai-400026.
3. Car loan from Yes bank secured by hypothecation of Rexton motor car.
(Secured by hypothecation of Fixed Assets and current assets, charge
over the company''s Factory Building, equitable mortgage of Industrial
Property at Dombivali East, personal guarantee of Directors Mr. Vinod
Lath and Mr.Pradeep Roongta and Corporate Guarantees of M/s Sunil Exim
Pvt Ltd, M/s Sunil Print Pvt Ltd, M/s Sunil Fabrics Pvt Ltd., M/s Sunil
Synthetics Pvt Ltd and owners of the property till the end of tenor of
facility)
Trade Payables include - -- Nil payable to "Suppliers" registered under
Micro, Small and Medium enterprises development act, 2006. No interest
has been paid /payable by company during the year to the suppliers
covered under the Micro, Small and Medium enterprises development act,
2006
Method of Valuation of Stock :
a) Stock of Raw Material & Packing material is valued at lower of Cost
determined on FIFO basis or net realisable value
b) Stores & spares and Fuel ,oil & Gases
c) Work -in Progress and Finished Goods are valued at cost or net
realizable value whichever is lower.
The cost includes manufacturing expenses and appropriate overheads.
Of the above, the balances that meet the definition of Cash and cash
equivalents as per AS 3 Cash Flow Statements is -Rs.379,99,115/- for the
PY 2012-2013 and - Rs.931,93,438/- for the CY 2013-2014
Notes Forming Part of the Financial Statements Note
1 Corporate information
The Company is engaged in the business of manufacturing of cloth and
processing thereof.
2.1 Contingent Liabilities not provided for:
31/03/2014 31/03/2013
Particulars
i) Disputed Excise Duty liability 458.04 457.85
ii) Disputed Customs Duty liability of
M/s. Sunil Impex,
a firm in which the company was an erstwhile
partner sharing 80% profit
and loss (to the extent of the profit
and loss sharing ratio). 336.00 336.00
iii) Bank Guarantee 344.50 281.27
3 In the opinion of the Board :
i) The current assets, loans and advances will realise in the ordinary
course of business, at least the amount at which these are stated in
the Balance Sheet
ii) Provision for all known liabilities have been made.
4 The balances of Sundry Debtors, Creditors, Loans and Advances are
subject to confirmation.
5 The Company has been informed by their suppliers that they are not
falling under the category of Small Scale Industries.
5.1 The company has a spinning unit at Dindigul, Tamilnadu. The
accounts of the Dindigul unit has been audited by S.M.M & Co.
-Chartered Accountants
5.2 Cash flow statement is enclosed as Annexure - 1
6 The previous year''s figures have been reclassified to conform to the
current year''s classification.
Mar 31, 2013
1 Corporate information
The Company is engaged in the business of manufacturing of cloth and
processing thereof.
2 In the opinion of the Board :
i) The current assets, loans and advances will realise in the ordinary
course of business, at leastthe amount at which these are stated in the
Balance Sheet
ii) Provision for all known liabilities have been made.
3 The balances of Sundry Debtors, Creditors, Loans and Advances are
subjectto confirmation.
4 The Company has been informed by their suppliers that they are not
falling under the category of Small Scale Industries.
4.1 The company has a spinning unit at Dindigul, Tamilnadu. The
accounts of the Dindigul unit has been audited by S.M.M& Co.-Chartered
Accountants
4.2 Cash flow statement is enclosed as Annexure- 1
5 The previous year''s figures have been reclassified to conform to the
current year''s classification.
Mar 31, 2010
31.3.2010 31.3.2009
Rs. In Rs. In
Lakhs Lakhs
1) Contingent Liabilities
not provided for:
i) disputed Excise Duty 590.89 590.89
liability
ii) disputed Customs Duty 336.00 336.00
liability of M/s. Sunil
Impex, a firm in which
the company was an erstwhile
partner sharing 80% profit
and loss (to the extent of
the profit and loss sharing
ratio).
2) Secured Loans :
A) Working Capital Loans :
i) Cash credit, Overdraft facilities and Working Capital Term Loan are
secured by joint hypothecation of Stocks, book debts and other Current
Assets of the Company, both present and future and equitable mortgage
charge on Factory Building at MIDC, Dombivili ranking pari-pasu between
Indian Bank and Allahabad Bank.
ii) Loan from Allahabad Bank is also secured by Corporate guarantee of
Sunil Fabrics Pvt. Ltd. & Eske Tex (India) Pvt. Ltd. with negative lien
on land and building owned by them.
B) Other Secured Loans:Plant & Machinery purchased under hire purchase
scheme is secured against the machinery purchased under the scheme.
C) Secured Loans from Allahabad Bank are guaranteed by Shri. V.G. Lath
.Managing Director and Smt. Saroj Lath .wife of Shri. V.G. Lath.
D) Secured Loans from Indian Bank are guaranteed by Shri V. G. Lath,
Managing Director, Smt. Saroj Lath .wife of Shri.V. G. Lath, and Shri.
Laxmikant Lath.
3) In the opinion of the Board :
i) The current assets, loans and advances will realise in the ordinary
course of business, at least the amount at which these are stated in
the Balance Sheet
ii) Provision for ail known liabilities have been made.
4) The balances of Sundry Debtors, Creditors, Loans and Advances are
subject to confirmation.
5) The Company has been informed by their suppliers that they are not
falling under the category of Small Scale Industries.
6) Segment Reporting:
Business Segments The company is primarily engaged in business of
processing of fabrics and sale . The company also processes fabrics on
job work basis. However the revenue from processing on job work basis
during the year under review and in the preceding financial year is
less than 10% of the total revenue, the disclosure requirements of
Accounting Standard (AS-17) issued by the Institute of chartered
Accountants Of India are not applicable. Since there are no exports
reporting on geographical segments is not required.
7) Disclosure of related party transactions :
A) Related party and their relationships :
i) Enterprises controlled by Director
and Relatives.
Eske Tex (India) Private Limited
Sunil Fabrics Private Limited
Sunil Synthetics Private Limited
Sunil Prints Private Limited
Sunil Industrial Finance Private Limited
Sunil Bleaching Co. Private Limited
ii) Name of Key Management
Personnel and their relatives :
a) Mr. Vinod Lath - Managing Director
b) Mr. Laxmikant Lath - Son of Managing Director
c) Mr. Ramesh Khanna- Whole time Director
d) Mr. Pradeep Rungta - Whole time Director
e) Mrs. Saroj Lath - Wife of Managing Director
f) Mrs. Rashmi Khanna - Wife of the Director
Mrs. Reena Rungta - Wife of the Director
8) Previous year figures have been regrouped, rearranged, recast and
reclassified wherever considered necessary.
9) The figures have been rounded off to the nearest multiple of Rupee.
10) Information required by Part IV of Schedule VI is enclosed as
annexure - 1
11) Cash flow statement is enclosed as Annexure - 2
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