Eddy Current Control (India) Ltd. के अकाउंट के लिये नोट

Mar 31, 2015

1. Contingent liabilities not provided for :

As at As at 31.03.2015 31.03.2014 (Rs in Lakhs) (Rs in Lakhs)

a. Guarantees issued by the bankers on behalf of the company and counterguaranteed by the company NIL NIL

d. Sales Tax demands disputed on appeal 6.84 31.44

2. Fixed Assets include certain items of Plant & machinery and Equipments given for job contracts to concerns in which Directors are interested under an agreement and installed at their works for Company's jobs.

3. Expenses incurred aggregating to Rs.1,06,39,404/- on Project/ Program for Switched Reluctance Drives (Financial by Technology Development Board) inclusive of Rs.65,60,586/- representing patterns & dies lying with concerns (in which Directors are interested) for job works is reflected under Capital Work in Progress.

A sum of Rs.34,60,857/- being revenue expenses on the same project are Reflected under Miscellaneous Expenditure for being written off in future accounting periods when the product development is expected to be completed and the product is sold/used. A sum of Rs. 8,67,626/- being expenditure incurred on development of HKW Eddy current Clutch Gear unit for new Diesel Locomotive being developed by DLW under program partly Assisted by DSIR has been capitalized pending completion of the project.

4. No decline is anticipated in the realizable value of long term investment in shares of Eddy Automobiles Ltd having regard to the current value of the assets of the said company.

5. Employee Benefits ( Disclosure as per AS-15)

a) Leave encashment has not been provided in accounts and will be accounted when it is paid.

b) Gratuity has not been provided in accounts and will be accounted when it is paid.

Charged to Profit and Loss account based on contribution:

Employers contribution to PF Rs.26,967/- Employers contribution to ESI Rs.16,632/-

6. Sundry Debtors, Creditors, Loans and advances, certain bank accounts (inoperative)are Subject to confirmation/reconciliation and include balances carried forward from prior Years, which in the opinion of the management are expected to be realizable/payable in full.

7. Loans and advances include Rs. 23,09,748/- is due from firms in which Directors are interested as Proprietors/partners on account of advances from manufacture of Dies and patterns for DLW Project.

8. There are no amounts due for more than 30 days in respect of identified Medium, Small & Micro units as per information available with the Company about the status of such units.

9. Quantum of Excise Duty included in closing stock of finished goods in the current year is Rs. 2,24,920(Rs.2,85,218)

10. No interst has been provided during the year on the loan taken from Eddy Automobiles (India) Limited.

11. Figures in the brackets represent figures for the previous year, previous year's figures have been regrouped wherever necessary to suit current year's layout

12. Related Party Disclosures Key Management Personnel

Mr. M. D. Jos Managing Director

Relatives of Key Management personnel:

Mrs. Reetha Jos Non Executive Director

Other related parties:

1. Eddy Automobiles(india) Ltd

2. BakeIite Products allied Industries

3.Industrial Electronics

4.GPR Castings

---

Mar 31, 2014

1. Contingent liabilities not provided for:

As at As at 31.03.2014 31.03.2013 (Rs in Lakhs) (Rs in Lakhs)

a. Guarantees issued by the bankers on behalf of the company and counter guaranteed by the company NIL NIL

b. Sales Tax demands disputed on appeal 31.44 NIL

2. Fixed Assets include certain items of Plant & Machinery and Equipments given for job contracts to concerns in which Directors are interested under an agreement and installed at their works for Company''s jobs.

3. Expenses incurred aggregating to Rs. 1,06,39,404 on Project / Programme for Switched Reluctance Drives (Financial by Technology Development Board) inclusive of Rs. 65,60,586.00 representing patterns & dies lying with concerns (in which Directors are interested) for job works is reflected under Capital Work In Progress.

A sum of Rs.3460857/- being revenue expenses on the same project are Reflected under Miscellaneous Expenditure for being written off in future accounting periods when the product development is expected to be completed and the product is sold / used. A sum of Rs. 867626/- being expenditure incurred on development of HKW Eddy Current Clutch Gear unit for new Diesel Locomotive being developed by DLW under program partly assisted by DSIR has been capitalized pending completion of the project.

4. No decline is anticipated in the realizable value of long term investment in shares of Eddy Automobiles Ltd having regard to the current value of the assets of the said company.

5. Employee Benefits (Disclosure as per AS-15)-

a) Leave encashment has not been provided in accounts and will be accounted as and when it is paid

b) Gratuity has not been provided in accounts and will be accounted as and when it is paid

Charged to Profit and Loss account based on contribution:

Employers contribution to PF : Rs. 36349/-

Employers contribution to ESI : Rs. 19154/-

6. Sundry Debtors, Creditors, Loans and advances, certain bank accounts(inoperative) are subject to confirmation / reconciliation and include balances carried forward from prior years, which, in the opinion of the management are apected to be realizable / payable in full.

7. Loans and advances include Rs. 2,215,136/- is due from firms in which Directors are interested as proprietors/partners on account of advances for manufacture of Dies and patterns for DLW project.

8. There are no amounts due for more than 30 days in respect of identified Medium, Small & Micro units as per information available with the Company about the status of such units

9. Quantum of Excise Duty included in closing stock of finished goods in the current year is Rs. 285218 (Rs. 220484)

10. Particulars of remuneration to Directors

11. No interest has been provided during the year on the loan taken from Eddy Automobiles (India) Limited.

12. Figures in the brackets represent figures for the previous year, Previous year''s figures have been regrouped wherever necessary to suit current year''s layout

---

Mar 31, 2013

1. Contingent liabilities not provided for:

As at 31.03.2013 As at 31.03.2012 (Rs) (Rs)

a. Guarantees issued by the bankers on behalf of the company and counterguaranteed by the company NIL NIL

d. Sales Tax demands disputed on appeal NIL NIL

2 Fixed Assets include certain items of Plant & Machinery and Equipments given for job contracts to concerns in which Directors are interested under an agreement and installed at their works for Company''s jobs.

3 Expenses incurred aggregating to Rs. 1,06,39,404 on Project / Programme for Switched Reluctance Drives (Financial by Technology Development Board) inclusive of Rs.65,60,586.00 representing patterns & dies lying with concerns (in which Directors are interested) for job works is reflected under Capital Work In Progress.

A sum of Rs.3460857/- being revenue expenses on the same project are Reflected under Miscellaneous Expenditure for being written off in future accounting periods when the product development is expected to be completed and the product is sold / used. A sum of Rs. 867626/- being expenditure incurred on development of HKW Eddy Current Clutch Gear unit for new Diesel Locomotive being developed by DLW under program partly assisted by DSIR has been capitalized pending completion of the project.

4 No decline is anticipated in the realizable value of long term investment in shares of Eddy Automobiles Ltd having regard to the current value of the assets of the said company.

5. Employee Benefits ( Disclosure as per AS-15)-

a) Leave encashment has not been provided in accounts and willl be accounted as and when it is paid

b) Gratuity has not been provided in accounts and willl be accounted as and when it is paid

Charged to Profit and Loss account based on contribution: Employers contribution to PF : Rs. 41353/-

Employers contribution to ESI : Rs. 20432/-

6. Sundry Debtors, Creditors, Loans and advances, certain bank accounts(inoperative) are subject to confirmation /reconciliation and include balances carried forward from prior years, which, in the opinion of the management are expected to be realizable / payable in full.

7. Loans and advances include

Rs. 2,215,136/- is due from firms in which Directors are interested as proprietors/partners on account of advances for manufacture of Dies and patterns for DLW project.

8. There are no amounts due for more than 30 days in respect of identified Medium, Small & Micro units as per information available with the Company about the status of such units

9. Quantum of Excise Duty included in closing stock of finished goods in the cunent year is Rs. 220484 (Rs. 280353)

10. Particulars of remuneration to Directors

11. No interest has been provided during the year on the loan taken from Eddy Automobiles (India) Limited.

12. Figures in the brackets represent figures for the previous year, Previous year''s figures have been regrouped wherever necessary to suit current year''s layout

13. Related Party Disclosures

Key Management Personnel

Mr. M.D.JOS Managing Director

Relatives of Key Management personnel :

Mrs Reetha Jos Non Executive Director

Other related parties:

1. Eddy Automobiles(I)Ltd,

2. Bakelite Products allied Industries

3. Industrial Electronics

4. GPR Castings

---

Mar 31, 2011

1. Contingent liabilities not provided for:

As at As at 31.03.2011 31.03.2010 (Rs) (Rs)

a. Guarantees issued by the bankers on behalf of the company and counterguaranteed by the company NIL 445,250

d. Sales Tax demands disputed on appeal NIL 13,69,981 ( 3,24,694 -Paid)

2 Fixed Assets include certain items of Plant & Machinery and Equipments given for job contracts to concerns in which Directors are interested under an agreement and installed at their works for Company's jobs.

3 Expenses incurred aggregating to Rs. 1,06,39,404.17 on Project / Programme for Switched Reluctance Drives (Financial by Technology Development Board) inclusive of Rs.65,60,586.00 representing patterns & dies lying with concerns (in which Directors are interested) for job works is reflected under Capital Work In Progress.

A sum of Rs.3460857/- being revenue expenses on the same project are Reflected under Miscellaneous Expenditure for being written off in future accounting periods when the product development is expected to be completed and the product is sold / used. A sum of Rs. 867626/- being expenditure incurred on development of HKW Eddy Current Clutch Gear unit for new Diesel Locomotive being developed by DLW under program partly assisted by DSIR has been capitalized pending completion of the project.

4 No decline is anticipated in the realizable value of long term investment in shares of Eddy Automobiles Ltd having regard to the current value of the assets of the said company.

5 Inventories include:

(a) Rs.8,290/-(Rs. ll,200/-)being Raw materials, Stores and Finished goods lying with firms /companies in which Directors are interested as partner / members.

6. Employee Benefits ( Disclosure as per AS-15)-

a) Leave encashment has been provided in accounts on actuarial basis

b) Gratuity (unfunded) actuarial basis at Rs. 202,027/-, (Rs. 139,356)

7. Sundry Debtors, Creditors, Loans and advances, certain bank accounts(inoperative) are subject to confirmation / reconciliation and include balances carried forward from prior years, which, in the opinion of the management are expected to be realizable / payable in full.

8. Loans and advances include

Rs. 2,215,136/- is due from firms in which Directors are interested as proprietors/partners on account of advances for manufacture of Dies and patterns for DLW project.

9. There are no amounts due for more than 30 days in respect of identified Medium, Small & Micro units as per information available with the Company about the status of such units

10. Quantum of Excise Duty included in closing stock of finished goods in the current year is Rs. 280853 (Rs. 165830)

11. Verification has been done for assessing the impairment of assets in terms of value and quantity. Provision has been made for impairment of assets during the year. (Rs. 10.59 Lacs)

12. Due to itemised depreciation for plant machinery current year depreciation is lower (Rs. 2.52 Lacs)

13. Figures in the brackets represent figures for the previous year, Previous year's figures have been regrouped wherever necessary to suit current year's layout

14. Related Party Disclosures

Key Management Personnel

Mr. M.D.JOS Managing Director

Relatives of Key Management personnel :

Mrs Reetha Jos Non Executive Director

Other related parties:

1. Eddy Automobiles(I)Ltd,

2. Bakelite Products allied Industries

3. Industrial Electronics

4. GPR Castings

V GENERIC NAMES OF THREE PRINCIPAL PRODUCTS/SERVICES OF THE COMPANY (As per monetary terms)

Item Code No.(ITC Code) 85.01.52.01 87.03.10.00.10

AC Squirrel Gage Battery or Electri Product Descnption Induction Motors cally Operated 3 Phase type Vehicles

As per our report of even date attached.

---

Mar 31, 2010

1. Contingent liabilities not provided for :



As at 31.03.2010 As at 31.03.2009 (RS) (Rs)

a. Guarantees issued by the bankers on behalf of the company and counterguaranteed by the company 445,250 815,025

d. Sales Tax demands disputed on appeal 13,69,981 13,69,981 (3,24,694-Paid)

2 Fixed Assets include certain items of Plant & Machinery and Equipments given for job contracts to concerns in which Directors are interested under an agreement and installed at their works for Companys jobs.

3 Expenses incurred aggregating to Rs. 1,06,39,404.17 on Project / Programme for Switched Reluctance Drives (Financial by Technology Development Board) inclusive of Rs.65,60,586.00 representing patterns & dies lying with concerns (in which Directors are interested) for job works is reflected under Capital Work In Progress.

A sum of Rs.3460857/- being revenue expenses on the same project are Reflected under Miscellaneous Expenditure for being written off in future accounting periods when the product development is expected to be completed and the product is sold / used. A sum of Rs. 867626/- being expenditure incurred on development of HKW Eddy Current Clutch Gear unit for new Diesel Locomotive being developed by DLW under program partly assisted by DSIR has been capitalized pending completion of the project.

4 No decline is anticipated in the realizable value of long term investment in shares of Eddy Automobiles Ltd having regard to the current value of the assets of the said company.

5 Inventories include:

(a) Rs. 11,200/- (Rs. 11,200/-)being Raw materials, Stores and Finished goods lying with firms /companies in which Directors are interested as partner / members.

6. Employee Benefits ( Disclosure as per AS-15)-

7. Sundry Debtors, Creditors, Loans and advances, certain bank accounts(inoperative) are subject to confirmation / reconciliation and include balances carried forward from prior years, which, in the opinion of the management are expected to be realizable / payable in full.

8. Loans and advances include

Rs.2,43,040.00 (Rs.2,43,040.00) being amount paid towards disputed Sales Tax demands aggregating to Rs. 13,69,981.00 as stated in 2(d) above..

Rs. 2,215,136/- is due from firms in which Directors are interested as proprietors/partners on account of advances for manufacture of Dies and patterns for DLW project.

9. There are no amounts due for more than 30 days in respect of identified Medium, Small & Micro units as per information available with the Company about the status of such units

10. Quantum of Excise Duty included in closing stock of finished goods in the current year is Rs. 280853 (Rs. 165830)

11. No verification has been done for assessing the impairment of assets in terms of value and quantity. Hence no provision has been made for impairment of assets during the year.

12. Particulars of remuneration to Directors

13. No interest has been provided during the year on the loan taken from Eddy Automobiles (India) Limited.

14. Deferred Tax Liability:

15. Figures in the brackets represent figures for the previous year, Previous years figures have been regrouped wherever necessary to suit current years layout

16. Related Party Disclosures

Key Management Personnel

Mr. M.D.JOS Managing Director

Relatives of Key Management personnel :

Mrs Reetha Jos Non Executive Director

Other related parties:

1. Eddy Automobiles(I)Ltd,

2. Bakelite Products allied Industries

3. Industrial Electronics

4. GPR Castings

18. Earnings per share:

19. Additional Information :

20. Production Capacity and Goods Manufactured:

V GENERIC NAMES OF THREE PRINCIPAL PRODUCTS/SERVICES OF THE COMPANY