Gandhidham Spg & Mfg Company Ltd. के अकाउंट के लिये नोट

Mar 31, 2015

1. Related Party Disclosures

* The management has identified the following Companies, Firms & Individuals as related parties of the company for the year ended on 31 sf march, 2014 for the purposes of reporting as per AS-18 related party transaction.

Name of the Party Nature of Relation

1 Mr. Sukhraj A.Singhvi Key Management Personal

2 Mr. Parasmai M. Jain Key Management Personal

3 Mr. Pradip P. Jain Key Management Personal

4 Mr. Haresh K. Notani Key Management Personal

3 Mrs. Kamladevi P. Jain Key Management Personal

2 . Information of Litigations

(a) Suits filed in the High Court of Bombay by the company and S.R.C. Ltd. on 02.05.86 for recovery of amount of Rs.3435396.00 from M/s. Sabnani Export Pvt. Ltd. The High Court has appointed a retired Judge of High Court as sole arbitrator. Appeal of M/s. Sabncni Export Pvt. Ltd. against this Order has been rejected by the High Court,

(b) An amount of Rs. 871940.00 is due from M/s. Asha fabrics and against that, an amount of Rs. 802810.00 has been received in the name of M/s. Sabnani Export Pvt. Ltd. In absence of any confirmation about adjustment of the said balances & amount of Rs. 871940.00 is shown as Debtor and Rs. 802810.00 as Liability.

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Mar 31, 2013

Note 1 : Provisions, Contingent Liabilities and Contingent Assets Disclosure as requirement by AS-29 Provision, Contingent Liabilities and contingent Assets

No. PARTICULARS Current Year Previous Year

(a) The Acquirers have acquired 200000, 9.5% redeemable Cumulative Preference Shares, redeemable on 31.12.1990, But Still these are not redeemed and period of redemption is also not extended.

(b) Other Money for which the Company is contingently 8213540.00 8023540.00 liable (i) Arrears of preference dividend subject to deduction of tax.

(c) Contingent Liabilities not provided for :

1. Suits by Creditors Amount Amount Unascertained Unascertained

2. Claims of Ex-Chief Executive contested 60946.00 60946.00

3. Claims of Gandhidham Municipality for Municipal Amount Amount Taxes-Disputed Unascertained Unascertained

(d) Suits filed in the High Court of Bombay by the company and S.R.C. Ltd. on 02.05.86 for recovery of amount of Rs.3435396.00 from Sabnani Export Pvt. Ltd. The High Court has appointed a retired Judge of High Court as sole arbitrator. Appeal of M/s. Sabnani Export against this Order has been rejected by the High Court.

(e) An amount of Rs. 871940.00 is due from M/s. Asha fabrics and against that, an amount of Rs. 802810.00 has been received in the name of M/s. Sabnani Export Pvt. Ltd. In absence of any confirmation about adjustment of the said balances & amount of Rs. 871940.00 is shown as Debtor and Rs. 802810.00 as Liability.

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Mar 31, 2011

31.03.2011 31.03.2010 Rs. Rs.

I. Contingent Liabilities not provided for:

1. Suits by Creditors Amount Amount unascertained unascertained

2. Claims of Ex-Chief Executive contested. 60,946.00 60,946.00

3. Claim of Gandhidham Municipality for Municipal Taxes Amount Amount - Disputed. unascertained unascertained

4. According to information available with the company regarding suppliers who constitute a “Small Scale Industries undertaking” there are no amounts due to them as on 31st March 2011

5. The credit balances lying in Current Account with Jai Hind Cooperative Bank Ltd, Mumbai is not confirmed, as the Bank is currently not in function.

6. Related Parties Disclosure:

1. Key management personnel and relatives Shri Sukhraj A. Singhvi, Shri Parasmal M. Jain

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Mar 31, 2010

1. The acquirers have acquired 200000, 9.5% Redeemable Cumulative Preference Shares, redeemable on 31.12.1990, but still these are not redeemed and period of redemption is also not extended.

3. Sales tax assessments have been completed up to 31st March 2003 and Income Tax Assessments have been completed up to 31.03.2007, as no notice for assessment is issued by the department.

4. Balances of Debtors, Creditors, Deposits taken Advances given and are subject to confirmation.

5. Comparative figures of previous year have been reclassified wherever necessary to confirm to this years classification.

6. Contingent Liabilities not provided for:

1. Suits by Creditors Amount Amount unascertained unascertained

2. Claims of Ex-Chief Executive contested. 60,946.00 60,946.00

3. Claim of Gandhidham Municipality for Amount Amount Municipal Taxes - Disputed. unascertained unascertained

7. (a) Suit filed in the High Court of Bombay by the company and S.R.C. Ltd. on 02.05.86 for recovery of amount of Rs.34,35,396 from Sabnani Export Pvt. Ltd. The High Court has appointed a retired Judge of High Court as sole arbitrator. Appeal of M/s. Sabnani Export against this order has been rejected by the High Court.

(b) An amount of Rs.8,71,940 is due from M/s. Asha Fabrics and against that, an amount of Rs.8,02,810 has been received in the name of M/s.Sabnani Export Pvt. Ltd. In absence of any confirmation about adjustment of the said balances & amount of Rs.8,71,940 is shown as debtor and Rs.8,02,810 as Liability.

8. According to information available with the company regarding suppliers who constitute a “Small Scale Industries undertaking” there are no amounts due to them as on 31st March 2010

9. The Current Account with Jai Hind Cooperative Bank Ltd, Mumbai is non operative since Long and as such no Balance confirmation has been obtained.

10. Related Parties Disclosure:

1. Key management personnel and relatives Shri Sukhraj A. Singhvi, Shri Parasmal M. Jain, Shri Pradeep. P. Jain, Shri. Sandeep Jain and Smt. Kamla Jain