Mar 31, 2015
1. Particulars of Employees in accordance with Sec. 197(12) of the
Act. Read with Rules 5(2) and 5(3) of the Companies (Appointment and
remuneration of Managerial Personnel) Rule, 2014. NIL
2. There are no dues to SSI Units outstanding for more than 30 days.
3. No confirmations were obtained from debtors/creditors as to the
balances receivable from/payable to them as at year end.
4. Company has not provided Depreciation during the year as per
Schedule II of the Companies Act, 2013.
5. As there is no timing difference of depreciation / loss, the
provisions for deferred tax Liability does not arise as per Accounting
Standard 22 (AS 22) issued by the ICAI and hence deferred income tax
liability has not been provided.
6. Previous year's figures have been regrouped wherever necessary.
7. The figures have been rounded off to the nearest rupee.
Mar 31, 2014
Not Available.
Jun 30, 2013
Contingent liabilities and commitments
Contingent liabilities and commitments have not been accounted for but
have been disclosed by note if any.
Sales Tax
Sales Tax liability was accounted for on the basis of sales tax
return filed by the company in the years where the company was in
operation. Additional liability on finality of the assessment are being
taken into account in the year of finalisation. In the opinion of board
of directors there were no such liability as on 30.06.2013.
(i) With the amount of VAT purchase cost of material has been reduced.
However there was no purchase during the year.
Paid up amount on 3002100 forfeited Equity shares i.e.
Rs.15010500/- which have not been reallotted have been shown under the
head "Share Capital".
Jun 30, 2012
1.1. Out of above shares 120000 Equity Shares have been allotted as
fully paid up bonus shares by capitalisation of General Reserve.
1.2. There has been no movement in the equity shares during the year.
1.3. The company has only one class of equity shares having a par value
of Rs.10/- share. Each holder of equity shares is entitled to one vote
per shares.
2.1.1 (i) Loan of U.P. Financial Corporation''s is secured by
hypothecation of Plant & Machineries/Equipments and collaterally
secured by mortgage of all immovable and movable properties and
personal guarantees of Shri Vikas Jain and Shri Vivek Jain. Balance
payable to UPFC as per OTS scheme after repayment has been shown as
secured loan. Provision of Interest and penal Interest has not been
done. However sufficient provision already exist as (Interest Payable)
under the head Other Current Liabilities against this contingent
liability. Balance is subject to confirmation.
(ii) Loans of PICUP''s is secured by hypothecation of plant &
machineries/equipment and collaterally secured by joint equitable
mortgage with UPFC of all immovable and movable properties and personal
guarantees of Shri Vikas Jain and Shri Vivek Jain. Balance payable to
PICUP as per OTS scheme after repayment has been shown as secured loan.
Provision of Interest and penal Interest has not been done. However
sufficient provision already exist as (Interest Payable) under the head
Other Current Liabilities against this contingent liability. Balance
is subject to confirmation.
3.1. Total outstanding dues of "Small Scale Industrial
Undertakings'' and ''other than Small Scale Industrial
Undertakings'' and the name of the Small Scale Industrial Undertakings
to whom sthe company owe a sum of exceeding Rs.1.00 lac which is
outstanding for more than 30 days are not disclosed on the balance
sheet as the suppliers have not indicated their status whether they are
Small Scale Industrial Undertaking or not on their documents and
accordingly it was not possible for the company to bifercate the trade
creditors.
4. CONTINGENT LIABILITIES / COMMITMENTS NOT PROVIDED FOR :
(a) Listing fee of Stock Exchange (Other than BSE) Rs.5.10 lacs (Prev.
Year Rs.6.59 lacs)
(b) Electricity Department Rs.1.26 lalcs (Prev. Year Rs.1.26 lacs)
(c) Interest UPFC Rs.128.00 lacs (Prev. Year Rs.100.00 lacs)
(d) Interest PICUP Rs.160.00 lacs (Prev. Year Rs.120.00 lacs)
(e) House Tax Amount Ascertained
Jun 30, 2011
1. Secured Loans - UPFC
Loans of U.P. Financial Corporation are secured by hypothecation of
Plant & Machineries/Equipments and collaterally se- cured by mortgage
of all immovable and movable properties and personal guarantees of Shri
Indra Kumar Jain (deceased), Shri Vikas Jain and Shri Vivek Jain.
Balance payable to UPFC as per OTS scheme as reduced by repayment has
been shown as secured loan. UPFC has cancelled OTS and has adjusted
repayment amount against interest which is against the NPA guidelines
of RBI. Company has disputed the action of UPFC and hope favorable
result in the end. However, sufficient provision already exist as
interest suspense under the head - Sundry Creditors - others against
this contingent liability.
2. Secured Loans - PICUP
Loans of PICUP are secured by hypothecation of plant and
machineries/equipment and collaterally secured by joint equitable
mortgage with UPFC of all immovable and movable properties and personal
guarantees of Shri Indra Kumar Jain (deceased), Shri Vikas Jain and
Shri Vivek Jain. Balance payable to PICUP as per OTS scheme as reduced
by repayment has been shown as secured loan. PICUP has cancelled OTS
and has adjusted repayment amount against interest which is against the
NPA guidelines of RBI. Company has disputed the action of PICUP and
hope favorable result in the end. However, sufficient provision
already exist as interest suspense under the head. Sundry Creditors -
others against this contingent liability.
3. Contingent Liability
i) Claims not acknowledged by company - .NIL (Prev. Year Rs.8.30 lacs)
only
ii) Company is also contingent liable for the following -
a) Listing fee of Stock Exchange Rs.6.59 lacs (Prev.year
Rs.3.66 lacs)
b) Electricity Department Rs.1.26 lacs (Prev. year
Rs.1.26 lacs)
c) InttUPFC Rs.100.00 lacs approx (Prev. year
Rs.72.00 lacs)
d) Intt PICUP Rs.120.00 lacs approx (Prev. year
Rs.83.00 lacs)
e) House Tax Amount unascertained
4. Retirement Benefits
There is no liability of retirement benefits to employees.
5. Balance of Debtors, Advances, Creditors, UPFC and PICUP are subject
to confirmation / reconciliation. However, in the opinion of Board of
Directors, the current assets and loans and advances are approx. of the
value stated if realised in the ordinary course of the business and
provisions for all known liabilities are adequate and not in excess of
the amount reasonably necessary.
6. Total outstanding dues of 'Small Scale Industrial Undertakings' and
'other than Small Scale Industrial Undertakings' and the name of the
Small Scale Industrial Undertakings to whom the company owe a sum of
exceeding Rs.1.00 lac which is outstanding for more than 30 days are
not disclosed on the balance sheet as the suppliers have not indicated
their status whether they are Small Scale Industrial Undertaking or not
on their documents and accordingly it was not possible for the company
to bifercate the trade creditors accordingly.
7. ADDITIONAL INFORMATION PURSUANT TO THE PROVISIONS OF PART II OF THE
SCHEDULE VI OF THE COMPA- NIES ACT, 1956 (AS CERTIFIED BY THE DIRECTORS
AND ACCEPTED BY THE AUDITORS):
Break up of Expenditure incurred on Employees who:
(i) If employed through out the year i.e. 01.07.2010 to 30.06.2011 were
in receipt of remuneration for the period which in the aggregate was
not less than Rs.24,00,000.00 or more - NIL
(ii) If employed for the part of the year were in receipt of
remuneration for any part of that year at a rate in the aggregate was
not less than Rs.2,00,000.00 per month or more - NIL
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