Indian Polyfins Ltd. के अकाउंट के लिये नोट

Mar 31, 2015

1 Corporate information

The Company is having its place of Business at Surat.

The Company was incorporated in 7.8.1987 to carry on the activities of trading & manufacturing of Textiles.

The Company is mainly dealing in textile manufacturing and trading.

2. Note : Car Loan : Kotak Mahindra Prime Ltd. -

(i) The Car Loan from Kotak Mahindra Prime Ltd. Surat was secured by Hypothecation of the Vehicle financed out of the said agreemet. Residual repayment period of the said loan is Nil months.

(ii) The Company has not defaulted in repayment of loans and interest in respect of any of the abovesaid Term Loans.

3. Contingent Liabilities & (Commitments (to the extent not provided for)

PARTICULARS AS AT AS AT 31.03.2015 31.03.2014 (I) Contingent Liablities

(a) Claims against the company not acknowledged as debts

- Excise & Customs 256.62 256.62

(b) Letter of Undertaking (LUT) given by the company towards custom & Excise Duty saved against Advance license under Duty Exemption estitilement scheme (DEEC)

The company is in Appeal against the order made 135.46 135.46

(c) Electiricity Matter

The company is in appeal against the order of the Appellate com- 35.25 35.25

4. Employees Benefit Plans

The company makes provident fund contribution to defined contribution plans for qualifying employees. Under the Scheme the company is required to contribute specified percentage of the payroll costs to fund the benefits. Gratuity payments will be accounted for on payment basis.

5. Segment Information

The company is engaged in the business of manufacturing & Trading of Textile Fabrics which comes under single business segment known as Textiles.

6. Related Party Transactions

1. Relationships

(a) Key Managerial Personnel

Vijendra Arya

(b) Other related parties

Sunil Fibers Pvt. Ltd.

Geotex Textile Pvt. Ltd.

Sunil Fibers

7. Deferred Tax (Liability) / Asset

Deferred Tax (Liability) / Asset arising from timing difference between book and taxable profit is accounted for using the prevalent tax rates and laws as on the balance sheet date. The deferred tax asset is reconginsed and carried forward only to the extent that there is a reasonable cetainty that the asset will be realised in' future.

8. Previous Year's Figures

Previous years figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

Notes:

(i) There being no discontinuing business hence the Cash Flow pertains to continuing operations.

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Mar 31, 2014

1. Corporate information

The Company is having its place of Business at Surat.

The Company was incorporated in 7.8.1987 to carry on the activities of trading & manufacturing of Textiles.

The Company is mainly dealing in textile manufacturing and trading.

2. Contingent Liabilities & (Commitments (to the extent not provided for)

PARTICULARS AS AT AS AT 31.03.2014 31.03.2013 (I) Contingent Liablities

(a) Claims against the company not acknowledged as debts

* Excise & Customs 256.62 256.62

Letter of Undertaking (LUT) given by the company towards custom & Excise Duty saved against Advance license under Duty Exemption estitilement scheme (DEEC)

The company is in Appeal against the order made 135.46 135.46

* Electiricity Matter

The company is in appeal against the order of the Appellate committee. 35.25 35.25 However the company has paid the demand alongwith Interest and shown the same under advnaces.

3. Employees Benefit Plans

The company makes provident fund contribution to defined contribu- tion plans for qualifying employees. Under the Scheme the company is required to contribute specified percentage of the payroll costs to fund the benefits. Gratuity payments will be accounted for on pay- ment basis.

4. Segment Information

The company is engaged in the business of manufacturing & Trading of Textile Fabrics which comes under single business segment known as Textiles.

5. Deferred Tax (Liability) / Asset

Deferred Tax (Liability) / Asset arising from timing difference between book and taxable profit is accounted for using the prevalent tax rates and laws as on the balance sheet date. The deferred tax asset is reconginsed and carried forward only to the extent that there is a reasonable cetainty that the asset will be realised in future.

6. Previous Year''s Figures

Previous years figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.