Mar 31, 2015
CORPORATE INFORMATION
TAMILNADU STEEL TUBES LTD. (the Company) is a Public Limited Company
domiciled in India and incorporated under the provisions of the
Companies Act 1956. under RC No. L27110TN1979PLC007887. Its share is
listed on Stock Exchanges in India. The Company is engaged in the
manufacturing and selling a reputed Brand of Black Pipe (ERW Pipe) &
G.I. Pipe. The Company caters only domestic market.
Mar 31, 2014
1. LONG TERM BORROWINGS:
SECURITIES OFFERED:
(Secured by Hypothecation of Stock-in-Trade, Stores, Spares &
Consumables, Book Debts & Receivables, both present & future and
further secured by residual charge on Fixed Assets).
2. SCHEDULE OF FIXED ASSETS AS ON 31.03.2014:
Note : Depreciation has been provided for the single shift on the basis
of SLM at the rates and in the manner specified in Schedule XIV of the
Companies Act, 1956.
3. RELATED PARTY DISCLOSURE
3.1 NATURE OF RELATIONSHIP
KEY MANAGERIAL PERSON
i) HOLDING COMPANY NIL NIL
ii) SUBSIDIARIES NIL NIL
iii) KEY MANAGERIAL PERSONNEL:
RAKESH GOYAL
MAHAVIR SINGH
VIKRAM SINGH
iv) RELATIVES OF KEY MANAGERIAL PERSONNEL
DURGA DEVI GOYAL
DRISHYA GOYAL
SAATVIK GOYAL
SAACHI GOYAL
INDERSAIN GOYAL
INDERSAIN GOYAL HUF (S)
RAKESH GOYAL (HUF)
3.2 Nature of Transaction of Key Managerial
Personnel & Relatives
Note: * Mr. Indersain Goyal was expired during the previous year and
the amount outstanding on his name is transferred to Mr. Rakesh Goyal,
S/o. Late Sri Indersain Goyal, the Legal Heir.
* Loan amount of Rs. 21,16,743/- of M/s. Indersain Goyal HUF (S) is
transferred, after the death of Shri Indersain Goyal to Smt. Durga Devi
Goyal, W/o. Late Shri Indersain Goyal.
Note: Bold figures pertains to Fin. Year: 2013-14 and other figures
pertains to Fin. year 2012-13.
Mar 31, 2013
1 GENERAL:
During the year the Hon''ble Tribunal of Income Tax has remanded back
the case '' relating to the Asst. Year 1999-2000 and 2000-2001 to the
concerned Assessing Officer for the re-assessment. The Company has
preferred an Appeal before the Hon''ble High Court and numbered the
Appeal, subsequently, the Assessing Officer has taken up for both the
years for re-assessment. The Company has preferred an Appeal against
re-assessment for the year 1999-2000 and obtained a Stay from the Hon''
ble High Court. However, the Assessing Officer has concluded the
hearing for the Asst. Year 2000-2001 in the month of March 2013 and the
orders were received only in the month of April 2013.
Mar 31, 2012
1) CORPORATE INFORMATION
TAMILNADU STEEL TUBES LTD. (The Company) is a Public Limited Company
domiciled in India and incorporated under the provisions of Indian
Companies Act 1956. Its Shares are Listed on Stock Exchanges in India.
The Company is engaged in the business of Manufacturing and Selling a
reputed Brand of Black Pipe (ERW Pipe) & G.I. Pipe. The Company caters
only domestic market,
2. RELATED PARTY DISCLOSURE
2.1 NATURE OF RELATIONSHIP
KEY MANAGERIAL PERSON
III. KEY MANAGERIAL PERSONNEL
RAKESH GOYAL MAHAVEER SINGH
IV. RELATIVES OF KEY MANAGERIAL PERSONNEL
DURGADEVI GOYAL
DRISHYA GOYAL
SAATVIK GOYAL
SAACHI GOYAL
INDERSAIN GOYAL
INDERSAIN GOYAL - HUF (S)
RAKESH GOYAL - HUF
Mar 31, 2010
1. The Company has been declared by the Board for Industrial Financial
Reconstruction as a Sick Industrial Company with in the meaning of Sec.
3(1) (o) of Sick Industrial Companies (Special Provisions) Act, 1985.
2. Rates and Taxes includes a sum of Rs. 3,08,44,000/- being Stamp
Duty payable on acquisition of factory land situated at Maraimalai
Nagar Industrial Estate, Chengleput Taluk, Kancheepuram District.
3. The Company has booked interest payment to Jammu & Kashmir Bank for
Rs. 179.9 Lacs which includes prior period interest of Rs. 147.75 lacs.
The Company has recognized this as a liability only during this year.
4. The Company is in the process of appointing a Full Time Company
Secretary.
5. Other liabilities include Rs.2,64,370/- towards Dividend payable
for the year 1993-94 which remains unpaid for more than 7 years. The
amount has not been deposited with Investor Protection Fund as
stipulated by Section 205A (5) of Companies Act, 1956.
6. As per letter dated 09.02.2010 from the Directorate of Income Tax
(Recovery) the correct liability for income tax for assessment year
1999-2000 amounting to Rs. 88,22,255/- and for assessment year
2000-2001 amounting to Rs.2,57,05,659/- has been provided in terms of
the modified rehabilitation scheme.
7. a) The SAIL has claimed a sum of Rs.1.62 Crores as Sales Tax and
the same has been countered as disputed claim as per Ministry of
industry, Notification 90/88 and according to the information and
explanation given to us, the case is still pending before the
Honourable High Court of Madras.
b) The SAIL has also claimed a sum of Rs.16.85 Lacs and the case is
pending before the Honourable High Court of Madras.
c) The Joint Director General of Foreign Trade office had claimed a sum
of Rs.25.48 Lacs for some discrepancies in the Advance licences and the
same is disputed.
8. The Company has addressed letters to the suppliers and service
providers seeking information from them as to whether they fall under
the categories of "Micro, Small and Medium Enterprises". The Company
is yet to receive replies from them.
9. Balances in parties account and banks are subject to confirmation
and consequential reconciliation, if any. In the opinion of the
Management, the Current Assets, Loans & Advances would realize atleast
to the extent stated in the balance sheet.
Note : Upto Previous year, the Company has not recognized any deferred
tax liability as required by the AS 22 in the books of account on
account of huge unabsorbed business and depreciation losses.
10 Segment Information :
The Company is principally engaged in the business of manufacture of
only steel pipes and hence there are no other reportable segments as
per Accounting Standard 17 on Segment Reporting.
B.Related Party Disclosure:
Nature of relationship Name
i)Holding Company NIL
ii)Subsidiaries NIL
iii)Key Managerial personnel RAKESH GOYAL
iv)Relatives of Key Managerial DURGADEVI GOYAL
Personnel DRISHYA GOYAL
SAATVIK GOYAL
SMC HI GOYAL
INDERSAIN GOYAL
RAKESH GOYAL - HUF
INDERSAIN GOYAL HUF S .
INDERSAIN GOYAL & SONS (HUF)
11 Secured Loans include a sum of Rs. 1,73 Crores which is to be
written back in a year to come as per the OTS settlement with J & K
Dank.
12 Previous Years figures have been regrouped wherever necessary to
confirm to current years classification.
Figures have been rounded off to the nearest rupee.
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article