Mar 31, 2015
1. SHARE CAPITAL
a) Terms/ rights attached to equity shares
The company has only one class of equity shares having a par value of
Rs. 10 per share. Each holder of equity shares is entitled to one vote
per share. The company declares and pays dividends in Indian rupees.
The dividend proposed by the Board of Directors is subject to the
shareholders in the ensuing Annual General Meeting. In the event of
liquidation of the company the holders of equity shares will be
entitled to receive remaining assets of company , after distribution of
all preferential amounts. The distribution will be in proportion to the
number of equity shares held by the shareholders.
2. Pursuant to the Companies Act, 2013 ("the Act") becoming effective
from 1st April, 2014, the Company has recomputed the depreciation based
on the useful life of the assets as prescribed in Schedule II of the
Act. The depreciation and amortization expense charged for the year
ended 31st March, 2015 would have been higher by Rs. 64,108/- had the
Company continued with the previously prescribed depreciation rates as
per Schedule XIV of the Companies Act, 1956. Further, in accordance
with the transitional provisions of Schedule il, the Company has
adjusted an amount of Rs. 718,637 (Net off deferred tax Rs. 322000/-
thereon) in the opening balance of retained earnings for those assets
where the remaining useful life is Nil as on 1st April, 2014.
3. Related parties and transactions with them as specified in
Accounting Standard 18 on "Related Parties Disclosure" issued by iCAI
has been identified and given below.
a) Enterprises where control exists Blackberry Property Advisory
Private Limited (Subsidiary
Company)
b) Associates and Joint Ventures -
c) Individual Owning an interest in
the voting power of the company and
their relatives -
d) Key Management Personnel and Anil Agrwal (Chairman and
their Relatives Managing Director)
Renu Agarwal (Director)
Lalit Kumar Chhawchharia
(Director)
Krishan Kumar Singh (CFO)
Parul Jain (Company Secretary)
e) Enterprises over which any person referred to in Nilgiri Mercantile
Pvt. Ltd.
(c) or is able to exercise significant influence
4. on the basis Physical verification of assets,specified in Accounting
Standard 28, and cash generation capacity of those assets management
perception there is no impairment of such assets as appearing in the
balance sheet as on 31.03.2015
5. Particulars required to be disclosed in pursuance of Accounting
Standard - 15 (revised 2005) on -Employee Benefits" as issued by the
Institute of Chartered Accountants of India is not determined and
hence, not disclosed.
6. Previous year figures have been rearranged/regrouped wherever
considered necessary.
Mar 31, 2014
1. Capital commitments remaining to be executed and not provided for
amount to Rs.353.77 lacs ( Rs.332.53 lacs); advance there against amount
to Rs. 238.03 lacs (Rs. 202.82 lacs).
2. a) There are no dues to any entity which is covered under small
scale industrial undertaking.
b) In absence of necessary information relating to the suppliers under
the Micro, Small and Medium Enterprises Development Act, 2006, the
company is unable to identify such suppliers, hence the information
required under the said act is not given.
c) Balance in the account of M/s Shoecraft under the head ''Sundry
Creditors - Others'' and certain adjustments there in are subject to
confirmation.
3 Due to economic reasons, the company has changed its line of business
from being a manufacturing exporter to merchant exporter w.e.f 1 st
November, 2013 under an arrangement with a manufacturer and getting
company''s export orders manufactured from the company''s existing
manufacturing facilities.
4. On the baste of physical verfication of assets, as specified in
Accounting Standard - 28. and cash generation capacity of those assets,
in the management perception there is no impairment of such assets as
appearing in the balance sheet as on 31.03.2014
5. Particulars required to be disclosed in pursuance of Accounting
Standard -15 (revised 2005) on "Employee Benefits" as issued by the
Institute of Chartered Accountants of India is not determined and
hence, not disclosed.
6. Previous year figures have been rearranged/regrouped wherever
considered necessary.
Mar 31, 2013
A) Terms/ rights attached to equity shares
The company has only one class of equity shares having a par value of
10 per share. Each holder of equity shares is entitled to one vote per
share. The company declares and pays dividends in indian rupees. The
dividend proposed by the Board of Directors is subject to the
shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the company, the holders of equity
shares will be entitled to receive remaining assets of company, after
distrubution of all preferential amounts. The distrubution will be in
proportion to the number of equity shares held by the shareholders.
1. Capital commitments remaining to be executed and not provided for
amount to Rs. 332.53 lacs (Rs. 232.52 lacs); advance there against amount
to Rs. 202.82 lacs (Rs. 130.18 lacs).
2. a) The names of small scale industrial undertakings to whom the
Company owes sums outstanding for more than 30 days as at the Balance
Sheet date is Indcoat Shoe Accessories, Sagar Buckles Pvt. Ltd, Ashian
Mercantile Pvt Ltd, Capston Rubber India and Scarco Shoes Pvt. Ltd..
This information and that given in Note 6 - "Trade Payables* regarding
small scale industrial undertakings has been determined to the extent
such parties have been identified on the basis of information available
with the Company. This has been relied upon by the auditors.
b) In absence of necessary information relating to the suppliers under
the Micro, Smalt and Medium Enterprises Development Act, 2006, the
company is unable to identify such suppliers, hence the information
required under the said act is not given.
c) Balance in the account of M/s Shoecraft under the head âÂÂSundry
Creditors - Others'' is subject to confirmation.
3. Advance against one Property namely âÂÂKensington BoulevardâÂÂ,
Noida is in the name of the an Ex-Director on behalf of the company.
Company is taking steps to transfer such allotment in the name of the
company.
4. On the basis of physical verfication of assets, as specified in
Accounting Standard - 28, and cash generation capacity of those assets,
In the management perception there is no impairment of such assets as
appearing in the balance sheet as on 31.03.2013
5. Particulars required to be disclosed in pursuance of Accounting
Standard - 15 (revised 2005} on "Employee Benefits* as issued by the
Institute of Chartered Accountants of India is not determined and
hence, not disclosed,
6. Previous year figures have been rearranged/regrouped wherever
considered necessary.
Mar 31, 2012
A) Terms/ rights attached to equity shares
The company has only one class of equity shares having a par value of X
10 per share. Each holder of equity shares is entitled to one vote per
share. The company declares and pays dividends in indian rupees. The
dividend proposed by the Board of Directors is subject to the
shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the company , the holders of equity
shares will be entitled to receive remaining assets of company , after
distrubution of all preferential amounts. The distrubution will be in
proportion to the number of equity shares held by the shareholders.
b) Out of the above, 757800 Equity shares were alloted on 31.03.2007
pursuant to the scheme of amalgamation,without payment being received
in cash .
OTHERS:
1.a) Premium on import entitlements is accounted for on sale thereof.
b) Liability towards gratuity is funded with Life Insurance Corporation
of India and administered through a separate trust set up by the
Company. The Company's contribution towards the Fund is charged to
Profit & Loss Account. Provision o' gratuity for employees not covered
by the scheme is made at the undiscounted amount.
c) Impairment Loss in the value of assets, as specified in Accounting
Standard - 28, is recognised whenever carrying value of such assets
exceeds the market value or value in use , whichever is higher.
2. Capital commitments remaining to be executed and not providedfor
amount to Rs. 232.52 lacs (Rs. 473.22 lacs); advance there against amount
toRs. 130.18 lacs ( Rs. 135.26 lacs).
3. a) The names of small scale industrial undertakings to whom the
Company owes sums outstanding for more than 30 days as at the Balance
Sheet date is Anand Brothers, Indcoat Footwear, Indcoat Shoe Components
Ltd., Indcoat Shoe Accessories, Sagar Buckles Pvt. Ltd and Scarco Shoes
Pvt. Ltd.. This information and that given in Note 6 - "Trade Payables"
regarding small scale industrial undertakings has been determined to
the extent such parties have been identified on the basis of
information available with the Company. This has been relied upon by
the auditors.
b) In absence of necessary information relating to the suppliers under
the Micro, Small and Medium Enterprises DevelopmentAct, 2006, the
company is unable to identify such suppliers, hence the information
required under the said act is not given,
4. Interest to Banks is net of interest Income ofT 5.16 lacs (Rs. 4.27
lacs); TDSRs. 0.47 lacs ( Rs. 0.43 lacs), on Fixed Deposits pledged with
the Banks against the Credit Facilities related to exports.
5. Advance against one Property is in the name of the an Ex-Director
on behalf of the company. Company is taking steps to transfer such
allotment in the name of the company.
6. On the basis of physical verification of assets, as specified in
Accounting Standard - 28, and cash genaration capacity of those assets,
in the management perception there is no impairment of such assets as
appearing in the balance sheet as on 31.03-2012
7. Particulars required to be disclosed in pursuance of Accounting
Standard à 15 (revised 2005) on "Employee Benefits" as issued by the
Institute of Chartered Accountants of India is not determined and
hence, not disclosed.
8. Previous year figures have been rearranged/regrouped wherever
considered necessary.
Mar 31, 2010
1. Capital commitments remaining to be executed and not provided for
amount to Rs.124.44 lacs(Rs.96.94 lacs); advance there against amount
to Rs.103.10 lacs (Rs.82.76 lacs).
2. a) The names of small scale industrial undertakings to whom the
Company owes sums outstanding for more than 30 days as at the Balance
Sheet date is Sagar Buckles Pvt. Ltd and Anand Cutting Profile P. Ltd..
This information and that given in Schedule 11 - "Current Liabilities
and Provisions" regarding small scale industrial undertakings has been
determined to the extent such parties have been identified on the basis
of information available with the Company. This has been relied upon by
the auditors.
b) In absence of necessary information relating to the suppliers under
the Micro, Small and Medium Enterprises Development Act, 2006, the
company is unable to identify such suppliers, hence the information
required under the said act is not given.
3. Interest to Banks is net of interest Income of Rs.3.55 lacs
(Rs.3.07 lacs); TDS Rs.0.55 lacs (Rs.0.67 lacs), on Fixed Deposits
pledged with the Banks against the Credit Facilities related to
exports.
4. Related Party Disclosures
1 Enterprises where control exists None
2 Other related parties with whom the Company had transactions Key
management personnel
Sh. Anil Agarwal Chairman & Managing Director
Smt. Rakhee Agarwal Whole Time Director
3 Enterprises over which Key Management Personnel and their relatives
are able to exercise significant influence Nilgiri Mercantile Private
Ltd.
5. On the basis of physical verfication of assets, as specified in
Accounting Standard - 28, and cash genaration capacity of those assets,
in the management perception there is no impairment of such assets as
appearing in the balance sheet as on 31.03.2010.
6. Particulars required to be disclosed in pursuance of Accounting
Standard à 15 (revised 2005) on ÃEmployee Benefitsà as issued by the
Institute of Chartered Accountants of India is not determined and
hence, not disclosed.
7. Previous year figures have been rearranged/regrouped wherever
considered necessary.