Mar 31, 2015
AS AT
31.03.2015
(Amount in Rs)
1. Contingent Liabilities not provided
for :-
(excluding matters separately dealt
with in other notes)
a) Counter guarantees issued to Bankers
in respect of guarantees issued by NIL
them
b) Guarantees issued on behalf of Ltd. NIL
Co's
c) Bank Guarantees issued to Sales Tax NIL
Dept & Electricity Board
d) In respect of Sales Tax/Excise 23,18,460.00
Demands pending before various
authorities and in dispute( Gross )
e) In respect of Service Tax Demands 1,84,06,471.00
pending before various authorities
and in dispute ( Gross )
f) Other claim against the company not 26,09,480.00
acknowledged as debt
AS AT
31.03.2014
(Amount in Rs)
1. Contingent Liabilities not provided
for :-
(excluding matters separately dealt
with in other notes)
a) Counter guarantees issued to Bankers
in respect of guarantees issued by NIL
them
b) Guarantees issued on behalf of Ltd. NIL
Co's
c) Bank Guarantees issued to Sales Tax NIL
Dept & Electricity Board
d) In respect of Sales Tax/Excise 23,32,656.00
Demands pending before various
authorities and in dispute( Gross )
e) In respect of Service Tax Demands 1,84,06,471.00
pending before various authorities
and in dispute ( Gross )
f) Other claim against the company not 26,09,480.00
acknowledged as debt
2. The Company has not complied with Accounting Standard AS-15
(revised) regarding retirement benefits of the employees. However the
company has accounted for retirement benefit of employees on accrual
basis calcu- lated on arithmetical basis based on last drawn salaries.
3. In the opinion of the Management current assets, loans and
advances have a value on realisation in the ordinary course of business
at least equal to the amount at which they are stated except where
indicated otherwise.
4. Balances of certain debtors, creditors, loans and advances are
subject to confirmation. Balances of debtors, unsecured loans, loans
and advances, sundry creditors and advance under capital work in
progress are subject to confirmation and reconciliation and
consequential adjustment, if any, will be accounted for in the year of
reconciliation and/or confirmation.
5. The Company has during the year not received any information from
any vendor regarding their status being registered under Micro, Small
and Medium Enterprises Development Act, 2006. Based on the above,
disclosures if any, relating to amounts unpaid as at the period end
along with interest paid / payable have not been given.
6. Tax Expense is the aggregate of current year income tax and
deferred tax charged to the Profit and Loss Account for the year :-
Income Tax
Current Year Charge: (Amount In Rs.)
Income tax Provision made for the year 38,24,000.00
7. Deferred Tax Liability/Asset
The Company estimates the deferred tax charge using the applicable rate
of taxation based on the impact of timing differences between financial
statements and estimated taxable income for the current year. The move-
ment of provision for deferred tax is given below :
8. The Company has not provided interest on foreign currency loan
amounting to Rs. 1,81,31,810.62 (previous year Rs. 1,81,31,810.62)
(excluding exchange fluctuation amount unascertained) till the date of
conversion of the loan into interest free unsecured loan, as in the
opinion of the management the same is not payable. The same shall be
accounted for on actual payment if made in the future.
9. The valuation of stock in process is as estimated by the Management
and auditors have relied thereon.
10. As the company is engaged in manufacturing of a single product
i.e. "beer", there is no separate reportable segment as per Accounting
Standard - 17 for "Segment Reporting" issued by the Institute of
Chartered Accoun- tants of India.
11. Finished goods inventory include material amounting to Rs.
2,09,380.00/- (Previous year Rs. 2,09,380.00) in the possession of an
ex-C&F Agent, Patna; pending for confirmation. The said Agent had
raised demands on the Company for payment of commission and other dues
amounting to Rs. 26,09,480/- which has been disputed by the company and
the case is pending in the Hon'ble High Court of Bihar at Patna.
Pending decision of the Court, no provision has been made there
against.
12. Related Party Disclosures :
Disclosures as required by the Accounting Standard - 18 " Related Party
Disclosures" are given below:
(a) List of Related Parties
Key Management Personnel and Relatives (Group A)
(i) Mr. R.K. Bagrodia -(Chairman Cum Managing Director)
(ii) Smt. Sneh Bagrodia -(Director)
(iii) Mr. Shantanu Bagrodia -(Relative of Directors)
(iv) Mrs Shivani Bagrodia -(Relative of Directors)
Enterprises in which Key Management Person or his relatives are able to
exercise significant influence or have substantial interest (Group B)
(i) Indfish Ltd.
(ii) Innovative Enterprises
(iii) Indo Australia Mining Pvt. Ltd.
(iv) R.K. Bagrodia (HUF)
(v) Corrkil Solutions (India) Pvt Ltd
(vi) Enzyme Infra Pvt Ltd
(vii) Adayana Learing Solutions Pvt. Ltd
(viii) Pentstemom Florist Pvt. Ltd.
(ix) Winsome Coatings (P) Ltd.
13. Previous year's figures have been regrouped/ rearranged, wherever
necessary so as to make them comparable with those of current year's
figures.
Mar 31, 2014
1. SHARE CAPITAL
a) Company has not issued any shares during the year
b) The holder of the equity shares are entitled to receive dividends as
declared from time to time, and are entitled to voting rights
proportionate to their share holding at the meetings of shareholders.
(c) Following Shareholders hold equity shares more than 5% of the total
equity shares of the company at the end of the peirod :-
As at As at
31.03.2014 31.03.2013
Amount in Rs. Amount in Rs.
OTHER NOTES ON ACCOUNTS
2. COMMITMENTS
a) Estimated amount of contracts Remaining to NIL NIL
be executedNIL on Capital Account and not
provided for (Net of advances)
b) Letters of Credit opened in favour of NIL NIL
inland/overseas suppliers
26. Contingent Liabilities not provided for
(excluding matters separately dealt with in
other notes)
a) Counter guarantees issued to Bankers in NIL NIL
respect of guarantees issued by them
b) Guarantees issued on behalf of Ltd. Co''s NIL NIL
c) Bank Guarantees issued to Sales Tax Dept & NIL NIL
Electricity Board
d) In respect of Sales Tax/Excise Demands 23,32,656 23,32,656
pending before various
authorities and in dispute
e) Other claim against the company not 26,09,480 26,09,480
acknowledged as debt
3. The Company has not complied with Accounting Standard AS-15
(revised) regarding retirement benefits of the employees. However the
company has accounted for retirement benefit of employees on accrual
basis calculated on arithmetical basis based on last drawn salaries.
4. In the opinion of the Management 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 except where indicated
otherwise.
5. Balances of certain debtors, creditors, loans and advances are
subject to confirmation. Balances of debtors, unsecured loans, loans
and advances, sundry creditors and advance under capital work in
progress are subject to confirmation and reconcilia- tion and
consequential adjustment, if any, will be accounted for in the year of
reconciliation and/or confirmation.
6. The Company has during the year not received any information from
any vendor regarding their status being registered under Micro, Small
and Medium Enterprises Development Act, 2006. Based on the above,
disclosures if any, relating to amounts unpaid as at the period end
along with interest paid / payable have not been given.
7. Tax Expense is the aggregate of current year income tax and
deferred tax charged to the Profit and Loss Account for the year :-
Income Tax
Current Year Charge:
Income Tax provision of Rs. 18.00 lacs has been made towards MAT u/s
115JB and no tax is payable on regular income.
8. The Company has not provided interest on foreign currency loan
amounting to Rs.1,81,31,810.62 (previous year Rs. 1,81,31,810.62)
(excluding exchange fluctuation amount unascertained) till the date of
conversion of the loan into interest free unsecured loan, as in the
opinion of the management the same is not payable. The same shall be
accounted for on actual payment if made in the future.
9. The company has not provided for notional Loss on account of
exchange fluctuation against the liability of Foreign Currency
unsecured loan as on 31.03.2014 in accordance with the provisions of AS
11. The exchange rate as on 31.03.2014 was unexpectively higher and the
same is continuously decreasing till the date of signing the Balance
sheet. In view of the above the management feels that ultimately there
will be no material difference in the foreign exchange liability in the
present scenario. Had the provision for the fluctuation been made, the
net profit would have decreased and the Foreign Currency unsecured loan
would have been increased by Rs. 62.15 lacs.
10. The valuation of stock in process is as estimated by the Management
and auditors have relied thereon.
11. Finished goods inventory include material amounting to Rs.
2,09,380.00/- (Previous year Rs. 2,09,380.00) in the possession of an
ex-C&F Agent, Patna; pending for confirmation. The said Agent had
raised demands on the Company for payment of commission and other dues
amounting to Rs. 26,09,480/- which has been disputed by the company and
the case is pending in the Hon''ble High Court of Bihar at Patna.
Pending decision of the Court, no provision has been made there
against.
12. As the company is engaged in manufacturing of a single product i.e.
"beer'''', there is no separate reportable segment as per Accounting
Standard - 17 for "Segment Reporting" issued by the Institute of
Chartered Accountants of India.
13. Related Party Disclosures :
Disclosures as required by the Accounting Standard - 18 " Related Party
Disclosures" are given below:
(a) List of Related Parties :-
Key Management Personnel and Relatives (Group A)
(i) Mr. R.K. Bagrodia - (Chairman cum Managing Director)
(ii) Smt. Sneh Bagrodia - (Director & Wife of Managing Director)
(iii) Mr. Shantanu Bagrodia - (Son of Managing Director)
Enterprises in which Key Management Person or his relatives are able to
exercise significant influence or have substantial interest (Group B)
(i) Indfish Ltd.
(ii) Innovative Enterprises
(iii) Indo Australia Mining Pvt. Ltd.
(iv) R.K. Bagrodia (HUF)
(v) Corrkil Solutions (India) Pvt Ltd.
14. Previous year''s figures have been regrouped/ rearranged, wherever
necessary so as to make them comparable with those of current year''s
figures.
Mar 31, 2013
1. The Company has not provided interest on foreign currency loan
amounting to Rs.1,81,31,810.62 (previous year Rs. 1,81,31,810.62)
(excluding exchange fluctuation amount unascertained) till the date of
conversion of the loan into interest free unsecured loan, as in the
opinion of the management the same is not payable. The same shall be
accounted for on actual payment if made in the future.
2. The valuation of stock in process is as estimated by the
Management and auditors have relied thereon.
3. Balances of debtors, unsecured loans, loans and advances, sundry
creditors, advance under capital work in progress and certain banks are
subject to confirmation and reconciliation and consequential
adjustment, if any, will be accounted for in the year of reconciliation
and/or confirmation.
4. Finished goods inventory include material amounting to Rs.
2,09,380.00/- (Previous year Rs. 2,09,380.00) in the possession of an
ex-C&F Agent, Patna; pending for confirmation. The said Agent had
raised demands on the Company for payment of commission and other dues
amounting to Rs. 26,09,480/- which has been disputed by the company and
the case is pending in the Hon''ble High Court of Bihar at Patna.
Pending decision of the Court, no provision has been made there
against.
5. In the opinion of the Management, Current Assets, Loans and
Advances, Fixed Assets and Capital work in progress have a value on
realisation in the ordinary course of business at least equal to the
amount at which they are stated.
6. CONTINGENT LIABILITIES:
(To the extent ascertained by the management)
a) Disputed demand/claims of Excise/Sales Tax/Income Tax etc. amounting
to Rs. 23,32,656.00 (previous year Rs. 87,62,118.00) not provided.
b) Other claim against the company not acknowledged as debt amounting
Rs 26,09,480.00 (Previous year Rs. 34,39,480.00).
7. Estimated amount of contract remaining to be executed on Capital
Account and not provided for (Net of advances) Rs. NIL (Previous year
Rs. NIL)
8. The Compnay, has during the year not received any information from
any vendor regarding their status being registered under Micro, Small
and Medium Enterprises Development Act, 2006. Based on the above,
disclosures, if any, relating to amounts unpaid as at the period end
along with interest paid / payable have not been given.
9. As the company is engaged in manufacturing of a single product
i.e. "beer", there is no separate reportable segment as per Accounting
Standard -17 for "Segment Reporting" issued by the Institute of
Chartered Accountants of India.
10. The company had purchased assets on hire purchase amounting to
Rs.22,69,702.00 Amount payable as on 31.03.2013 877,826.00 (previous
year Rs.513,436.00) Amount payable within one year 462,276.00 (previous
year Rs. 268,016.00)
11. The Company has not complied with Accounting Standard AS-15
(revised) regarding retirement benefits of the employees. However the
company has accounted for retirement benefit of employees on accrual
basis calculated on arithmetical basis based on last drawn salaries
which is considered sufficient by the management.
12. Related Party Disclosures :
Disclosures as required by the Accounting Standard - 18 " Related Party
Disclosures" are given below:
(a) List of Related Parties
Key Management Personnel and Relatives (Group A) (i) Mr. R.K. Bagrodia
- (Chairman cum Managing Director) (ii) Mrs. Sneh Bagrodia - (Director
& Wife of Managing Director) (iii) Mr. Shantanu Bagrodia - (Son of
Managing Director)
Enterprises in which Key Management Person or his relatives are able to
exercise significant influence or have substantial interest (Group B)
(i) Indfish Ltd.
(ii) Innovative Enterprises
(iii) Indo Australia Mining Pvt.Ltd.
(b) Details of transactions with related parties during the year
2012-2013 :
13. Previous year''s figures have been regrouped/rearranged, wherever
necessary so as to make them comparable with those of current year''s
figures.
Mar 31, 2012
A) Company has not issued any shares during the year
b) The holder of the equity shares are entitled to receive dividends as
declared from time to time, and are entitled to voting rights
proportionate to their share holding at the meetings of shareholders.
(c) Following Shareholders hold equity shares more than 5% of the total
equity shares of the company at the end of the peirod :-
NOTES:
1. Term loans from financial institutions & Banks are secured by
Vehicles and 1 st charge on immoveable property (present) in the name
of Jay Ditya Anand Developers Pvt. Ltd. situated at D-61, Okhla
Industrial Area, Phase-I, New Delhi ranking pari-pasu with the charges
created in favour of participating financial institutions and Banks.
2. Loan from others parties are unsecured.
3. There has been no continuing default on the balance sheet date in
repayment of loan and interest.
4. The term loans are repayable generally over a period of three to
five years in installments as per the terms of the respective
agreements.
5. The Company has not provided interest on foreign currency loan
amounting to Rs. 1,81,31,810.62 (previous year Rs. 1,81,31,810.62)
(excluding exchange fluctuation amount unascertained) till the date of
conversion of the loan into interest free unsecured loan, as in the
opinion of the management the same is not payable. The same shall be
accounted for on actual payment if made in the future.
6. The Company has short provided income tax liability for financial
year ended 31-03-2012 to the extent of Rs. 5750000/- as in the opinion
of the management the same is not payable. The same shall be accounted
for on actual payment if made in the future.
7. The valuation of stock in process is as estimated by the
Management and auditors have relied thereon.
8. Balances of debtors, unsecured loans, loans and advances, sundry
creditors, advance under capital work in progress and certain banks are
subject to confirmation and reconciliation and consequential
adjustment, if any, will be accounted for in the year of reconciliation
and/or confirmation.
9. Finished goods inventory include material amounting to Rs.
2,09,380.00/- (Previous year Rs. 2,09,380.00) in the possession of an
ex-C&F Agent, Patna; pending for confirmation. The said Agent had
raised demands on the Company for payment of commission and other dues
amounting to Rs. 26,09,480/- which has been disputed by the company and
the case is pending in the Hon'ble High Court of Bihar at Patna.
Pending decision of the Court, no provision has been made there
against.
10. In the opinion of the Management, Current Assets, Loans and
Advances, Fixed Assets and Capital work in progress have a value on
realisation in the ordinary course of business at least equal to the
amount at which they are stated.
11. CONTINGENT LIABILITIES:
(To the extent ascertained by the management)
a) Disputed demand/claims of Excise/Sales Tax/Income Tax etc. amounting
to Rs. 87,62,118.00 (previous year Rs. 32,94,322.00) not provided.
b) Other claim against the company not acknowledged as debt amounting
Rs 34,39,480.00 (Previous year Rs. 34,39,480.00).
12. Estimated amount of contract remaining to be executed on Capital
Account and not provided for (Net of advances) Rs. NIL (Previous year
Rs. NIL)
13. Small scale industrial undertakings to whom the company owes sums
of Rs. Nil (Previous year Rs. nil) to the extent identification from
available information.
14. EXPENDITURE IN FOREIGN CURRENCY
15. . As the company is engaged in manufacturing of a single product
i.e. "beer", there is no separate reportable segment as per Accounting Standard -17 for "Segment Reporting" issued by the Institute of Chartered Accountants of India.
16. The company had purchased assets on hire purchase amounting to Rs.
1912531.00 Amount payable as on 31st March 12 513436.44 (previous year
Rs.976934.64) Amount payable within one year 268016.00 (previous year
Rs. 463498.00)
17. Related Party Disclosures :
Disclosures as required by the Accounting Standard -18" Related Party
Disclosures" are given below:
(a) List of Related Parties
Key Management Personnel and Relatives (Group A)
(i) Mr. R.K. Bagrodia - (Chairman cum Managing Director)
(ii) Smt. Sneh Bagrodia - (Director & Wife of Managing Director)
(Hi) Mr. Shantanu Bagrodia - (Son of Managing Director)
Enterprises in which Key Management Person or his relatives are able to
exercise significant influence or have
substantial interest (Group B)
(i) Indfish Ltd.
(ii) R.K. Bagrodia (HUF)
(Hi) Shree International
(b) Details of transactions with related parties during the year
2011-2012 :
18. Previous year's figures have been regrouped/rearranged,
wherever necessary so as to make them comparable with those of current
year's figures.
Mar 31, 2010
1. Additions/ (deductions) to Plant & Machinery includes
(Rs.63,46,295.76) {previous year Addition Rs. 1,19,93,515.93) being
exchange difference on foreign currency loan.
2. Depreciation in earlier years on Plant & Machinery, Building &
Electrical installation has been provided in proportion to actual
capacity utilization Vis a vis installed capacity, resulting in lower
provision by amounting to Rs. 3,56,73,039.70 till date (previous year
Rs. 3,56,73,039.70).
3. The Company has not provided interest on foreign currency loan
amounting to Rs.1,81,31,810.62(previous year Rs. 1,81,31,810.62)
(excluding exchange fluctuation amount unascertained) till the date of
conversion of the loan into interest free unsecured loan, as in the
opinion of the management the same is not payable.
4. The valuation of stock in process is as estimated by the Management
and auditors have relied thereon.
5. Balances of debtors, unsecured loans, loans and advances, sundry
creditors, advance under capital work in progress and certain banks are
subject to confirmation and reconciliation and consequential
adjustment, if any, will be accounted for in the year of reconciliation
and/or confirmation.
6. Finished goods inventory include material amounting to Rs.
2,09,380.00/-(Previous year Rs. 2,09,380.00) in the possession of an
ex-C&F Agent, Patna; pending for confirmation. The said Agent had
raised demands on the Company for payment of commission and other dues
amounting to Rs. 26,09,480/- which has been disputed by the company and
the case is pending in the Honble High Court of Bihar at Patna.
Pending decision of the Court, no provision has been made there
against.
7. In the opinion of the Management, Current Assets, Loans and
Advances, Fixed Assets and Capital work in progress have a value on
realisation in the ordinary course of business at least equal to the
amount at which they are stated.
8. Loan from Others under Unsecured Loans includes Rs.
4,93,06,676.40 received from bodies corporate (previous year Rs.
5,56,52,972.16).
9. CONTINGENT LIABILITIES:
(To the extent ascertained by the management) i) Disputed demand/claims
of Excise/Sales Tax/Interest on cash credit from bank etc. amounting to
Rs. 32,94,322.00 (previous year Rs. 90,69,570.00) not provided. ii)
Other claim against the company not acknowledged as debt amounting Rs
34,39,480.00 (Previous year Rs. 46,54,340.00).
10. Estimated amount of contract remaining to be executed on Capital
Account and not provided for (Net of advances) Rs. NIL (Previous year
Rs. NIL)
11. Small scale industrial undertakings to whom the company owes sums
of Rs.nil (Previous year Rs. nil) to the extent identification from
available informations.
12 As the company is engaged in manufacturing of a single product i.e.
"beer", there is no separate reportable segment as per Accounting
Standard -17 for "Segment Reporting" issued by the Institute of
Chartered Accountants of India.
13 The company had purchased assets on hire purchase amounting to
Rs.763846
Amount payable as on 31 st March 10 418849.34 (previous year
Rs.722309.96)
Amount payable within one year 236124.00(previous year
Rs.*439524.00)
- including interest
14. Related Party Disclosures :
Disclosures as required by the Accounting Standard - 18" Related Party
Disclosures" are given below: (a) List of Related Parties
Key Management Personnel and Relatives (Group A)
(i) Mr. R.K. Bagrodia - (Chairman cum Managing Director)
(ii) Smt. Sneh Bagrodia - (Director & Wife)
(iii) Mr. Shantanu Bagrodia - (Son)
Enterprises in which Key Management Person or his relatives are able to
exercise significant influence or have substantial interest (Group B)
(i) IndfishLtd.
(ii) R.K. Bagrodia (HUF)
(iii) Shree International
15 Previous years figures have been regrouped/rearranged, wherever
necessary so as to make them comparable with those of current years
figures.
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