Mar 31, 2015
1. Confirmations in support of outstanding expenses payable amount due
to suppliers are being obtained at the instance of auditors.
2. Power & Fuel cost is inclusive of cost of L.P.G, Diesel &
Electricity.
3. Sundry Debtors Written off represent quality rebate given in
yester years supplies on final settlement of accounts.
4. Share issue expense of yester years have been amortized as per
provision of section 35D of Income Tax Act, 1961.
5. Wherever expenses/payment was not supported by bill/receipts,
auditors have relied upon satisfaction of expenses/payment.
6. Sales Tax Arrears for Assessment Year 2006-2007 have been recorded
in books of accounts.
7. Contingent Liabilities exist in respect of:
(a) Any demands that may be raised suppliers of machinery/ Raw Material
& other suppliers on reconciliation of accounts.
(b) Any demands that may be raised E.S.I. & P.F. authorities on delay
deposit of E.S.I /P.F. contribution.
(c) Any demand that may be raised by Excise, Income Tax & sales Tax
authorities on completion of pending assessment. Sales Tax Assessment
are pending from 2012-2013.
8 .Accounting Policies
a) Cost of Inventory of Raw Material, stores, Chemicals & packing
Material is inclusive of Purchase Price & Net of Excise Duty.
b) Sales are net of Excise Duty.
c) Stock of Raw Material & Packing Material are valued at cost price.
Purchase Cost is inclusive of cost of Raw Material, Insurance, and
Entry Tax with cess. Finished Goods Stock has been valued at selling
rate subject to adjustment of excise duty.
d) As per the practice of the company the liability on account of
Gratuity and Leaves Encashment would be on the payment basis. However
the company is proposing to take up effective steps for insurance
cover.
e) Fixed assets are stated at cost. All cost relating to acquisition
and installation of Fixed Assets are capitalized.
f) During the year Company has charged depreciation on Fixed Assets on
SLM Method as per Schedule II of Companies Act, 2013. In yester Years
Company charged depreciation on Fixed Assets as per rate mentioned in
Income T ax Act, 1961.
g) P.F. /E.S.I charges are inclusive of administrative charges.
h) Raw Material consumption for the year is inclusive of Raw Material
Stores consumed during the year.
i) Current Assets, Loans and Advances have a value on realization in
the ordinary course of business at least equal to the amount at which
they are stated in the Balance Sheet and Provision for all known
liabilities have been made.
j) Advances recoverable in cash or kind include advances made to
Machinery suppliers which would be, adjusted on rendition of the
accounts receipts of the material/ render of services.
k) No Provision made for deferred tax liability and steps are yet to be
taken for creation of deferred tax assets as on 31.03.2015.
l) Previous year figures have been rearranged/ regrouped to make them
comparable.
m) Foreign Currency Transaction is accounted for at the exchange rates
from prevailing on the date of transaction. All foreign currency
liabilities at the year are accounted for at FEDAI exchange rates
prevailing on the date any resulting foreign exchange gain or losses
are recognized as period cost.
n) During the year company has imported Car-Bentley from London for
Rs.3, 07, 70,887/- and same has been sold to Group Company -HAL
Offshore Ltd. during the year at purchase cost.
Mar 31, 2014
NOTE NO. 1 - Share Capital
Details of Shares held by each shareholder holding more than 5% shares
NOTE NO. 2 -
I. Confirmations in support of outstanding expenses payable amount due
to suppliers are being obtained at the instance of auditors.
II. Power & Fuel cost is inclusive of cost of L.P.G, Diesel &
Electricity.
III. Company has made investment in shares of M/sMetbrass Plassim India
Ltd. to the extent of 300000 shares of face value Rs. 10/- at premium
Rs. 140/-, in shares of M/s Moon Beverages Ltd. to the extent of 316000
shares of face value Rs. 10/- at premium Rs. 365/- and in subsidiary
M/s Hindustan Aqua Ltd to the extent of 3275000 shares of face value
Rs. 10/- at premium Rs. 30/-.
IV. Sundry Debtors Written off represent quality rebate given on
supplies at the time of final settlement of accounts.
V. Share issue expense has been amortized as per permission of section
35D of Income Tax Act, 1961.
VI. Wherever expenses/payment was not supported by bill/receipts,
auditors have relied upon satisfaction of expenses/pay- ment.
VII. Finished Goods purchases and sales are inclusive of overseas
transactions.
NOTE NO. 3 - Contingent Liabilities exist in respect of:
(a) Any demands that may be raised suppliers of machinery/ raw Material
& other suppliers on reconciliation of accounts.
(b) Any demands that may be raised E.S.I. & P.F. authorities on delay
deposit of E.S.I./P.F. contribution.
(c) Any demand that may be raised by Excise, Income Tax & sales Tax
authorities on completion of pending assessment. Sales Tax Assessment
are pending from 2011-2012.
(d) Appeal for Assessment Year 2002-2003 is pending before C.I.T.
(Appeals). No provision made for demand of Rs. 3017132/- being disputed
by the company.
(e) Sales tax appeal for Assessment Year 2006-2007 is pending for which
no provision exists.
Mar 31, 2013
I. Confirmation in support of outstanding expenses payable amount dug
to suppliers are being obtained at the instance of auditors
II Power & Fuel cost is inclusive of cost of LP G, Diesel & Electricity
III. During the year company has obtained SEBI permission for
preferential allotmeni Preferential allotment also made to parties
listed u/s 301 of Companies Act 1S56 However terms and conditions of
preferential allotment are not prejudicial (a the interest of company
IV. Company has made investment in shares of W$ Moon Beverages Lta to
the extent of 316000 share of Face value Rs10/- at premium Rs 365/- and
in Subsidiary M/s Hindustan Aqua Ltd to the extent of 3275000 share of
face vaiue RslO/- at premium. Rs.3GA
V Company has made share purchase advance to Metbrass Piassim India
However allotment could not be done as on 31.03.2013 for want of
comoletion or allotment formalities.
VI Share issue expense has been amortized as per permission of section
35D j'' Income Tax Act, 1961
VII. Company has proposed 10% dividend for the year ended 3V'' March
2012 aiong with Dividend Tax. However same was not approved by the
share holders, hence withdrawn during the year
VIII Wherever expenses/payment was not supporteo by bill/receipts,
auditors have relied upon satisfaction of expenses/payment
NOTE NO,2-Contincjent Liabilities exist in respect of:
(aJ Any demands that may be raised suppliers of machinery/ aw Material
& orhe suppliers on reconciliation of accounts *
(b) Any demands that may be raised E.S.I. & P.P. authorities on delay
deposit ur E.S.I./P.F contribution
(c) Any demand that may be raised by Excise. Income Tax & sales Tax a
Lithe ties completion of pending assessment Sales Tax Assessmen; are
pending hui; 20 "K 2011.
(d) Appeal for Assessment Year 2002-2003 pending beforey provision mace
for demand of Rs 3017132/- under aforesaid/ y*V
Mar 31, 2012
I. Confirmation in support of outstanding expenses payable amount due
to suppliers are being obtained at the instance of auditors.
II. Power & Fuel cost is inclusive of cost of L.P.G, Diesel &
Electricity.
III. Wherever expenses/payment was not supported by bill/receipts,
auditors have relied upon satisfaction of expenses/payment.
NOTE NO.1-Continaent Liabilities exist in respect of:
(a) Any demands that may be raised suppliers of machinery/ aw Material
& other suppliers on reconciliation of accounts.
(b) Any demands that may be raised E.S.I. & P.F. authorities on delay
deposit of E.S.I. /P.F. contribution.
(c) Any demand that may be raised by Excise, Income Tax & sales Tax
authorities on completion of pending assessment. Sales Tax Assessment
are pending from 2009- 2010.
(d) Appeal for Assessment Year 2002-2003 pending before C.I.T.
(Appeals). No provision made for demand of Rs.3017132/- under aforesaid
appeal.
Mar 31, 2011
I) In the opinion of the Board, Current Assets. Loans and Advances
have a value on relation in the ordinary course of business at least
equal to the amount at which they are stated in the Balance Sheet and
Provision for all known liabilities have been made
II) Advances recoverable in cash or kind include advances made to
Machinery suppliers which would be. adjusted on rendition of the
accounts receipts of the material/ render of services.
III) Confirmation in support of outstanding expenses payable amount due
to suppliers are being obtained at the instance of auditors
IV) No Provision made for deferred tax liability and steps are yet to
be taken for creation of deferred tax assets as on 31 03.5011
V) Previous year figures have been rearranged/ regrouped to make them
comparable.
VI) Profit or Loss on sales of Plant & Machinery of Vanaspati &. Mi IK
Unit would be accounted at the time of adjustment of Advance against
sale of aforesaid Machinery.
VII) No Depreciation has been provided on Plant & Machinery and other
items related to Vanaspati Division & Milk Division, as same was not
put to use during the year.
VIII) Power & Fuel cost is inclusive of cost of L.P.G, Diesel &
Electricity
IX) Sale Tax paid during the year represents Arrears
XI) Wherever expenses/payment was not supported by bill/receipts,
auditors have relied upon satisfaction of expenses/payment
This is the Schedule of Contingent Liabilities and Notes referred to in
the Balance Sheet of even date.
Mar 31, 2010
1. CONTINGENT LIABILITY EXISTS IN RESPEST OF; -
a) Any demands that may be raised suppliers of Machinery / Raw Material
& other Suppliers on reconciliation of accounts.
b) Any demands that may be raised E.S.I & P.F. authorities on delay
deposit of E.S.I of P.F. contribution in yester years.
c) Any demand that may be raised by Excise, Income tax & Sales tax
authorities on completion of pending proceeding /assessment. Sales Tax
Assessments are pending from 2008-09 onward.
d) Appeal for Assessment year 2002-03 pending before C.I.T. (Appeals).
No provision made for demand of R$.3017132/-under aforesaid appeal.
2. NOTES;
I. In the opinion of the Board, current assets, Loans and Advances have
a value on realization in the ordinary course of business at least
equal to the amounts at which they are stated in the Balance Sheet and
Provision for all known liabilities have been made.
II. Advances recoverable in cash or kind include advances made to
Machinery suppliers which would be, adjusted on rendition of the
accounts, receipts of the materials/render of services.
III. Confirmation in support of outstanding expenses payable,Advances
against Machinery Sales are being obtained at the instance of auditors.
IV. No provision made for deferred tax liability and steps are yet to
be taken for creation of deferred tax assets as on 31.03.2010.
V. Previous year figures have been rearranged/ regrouped to make them
comparable.
VI. Profit or Loss on Sales of Old Plant & Machinery of Vanaspati &
Milk Unit would be accounted at the time of adjustment of Advance
against sale of aforesaid Machinery.
VII. No depreciation has been provided on plant & machinery and other
items related to Vanaspati Division & Milk Division, as same was not
put to use during the year.
VIII. Raw Material Consumption for the year is inclusive of Raw
Material Stores & Electricals.
IX. Sale Tax Paid during the Year represents Arrears.
XI. Wherever expenses/ payment was not supported by a bill / receipts,
auditors have relief upon satisfaction of expenses / payment.
XII. Information required by Notification no CSr.695(E) dt. 10.06.1998
issued by the Govt, of India Ministry of Law Justice and Company
Affairs is appended as under.
2009-2010 2008-2009
a) No of Employees getting
Rs.200000/-PM NIL NIL
in the whole year
b) No of Employees getting
Rs.200000/-PM NIL NIL
in part of the year
Additional information pursuant of paragraph 3&4 off part II of
Schedule VI of the companies Act 1956 as certified by the management.
(A)Licensed & Installed Capacity 2009-10 2008-09
(a) Licensed Capacity (MT) N.A. N.A.
(B) Raw Material As per Schedule Attached : NIL
This is the schedule of contingent liabilities and notes
Referred to in the balance sheet of even date.
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