Jhaveri Flexo India Ltd. के अकाउंट के लिये नोट

Mar 31, 2010

1. CONTINGENT LIABILITY:

Guarantees given by bank on behalf of the Company Rs. Nil Lacs

1. In respect to Assessment Year 2001 -02, there is a IT demand u/s 271 (1) for Rs. 43.61 lac on the erstwhile Jhaveri Flexi Laminate Pvt. Ltd. The company has appealed with the Income tax Appeallate Tribunal.

2. In respect to Assessment Year 2003-04, there is a IT demand against assessment u/s 154 of Rs. 11.66 lac on the erstwhile Jhaveri Flexi Laminate Pvt. Ltd. The company has appealed with the Income Tax Appeallate Tribunal.

3. In respect to Assessment 2005-06, there is a IT demand against assessment u/s 143(3) of Rs. 28.83 lacs on the erstwhile Jhaveri Flexi Laminate Pvt. Ltd. The company has appealed with the Income Tax Appeallate Tribunal.

4. The Company has funded total gratuity liability of Farola unit with Life Insurance Corporation of India.

5. Excise duty is on clearance under Central Excise Rules, Hence, no provision has been made in accounts for Rs. 45,17,234/- (Previous year Rs. 20,36,983/-) on stock of finished goods awaiting clearance. This has no impact on the profit of the year.

6. Additional information pursuant to the provision of paragraph 3 & 4 Part-ll, Schedule VI to the Companies Act, 1956.

7. Value of Imports on C.I.F basis : (Previous Year Rs. 4996.82 Lacs)

Raw Material Rs. 3549.02 Lacs

Spares Parts Rs. 18.44 Lacs

Plant & Machinary Rs. 76.08 Lacs

8. Earning in Foreign Currency:

Exports of goods calculated on FOB basis: Rs. 358.06 Lacs (Previous Year Rs. 141.36 Lacs)

9. Expenditure in Foreign Currency:

Directors Foreign Travelling Expenses Rs..10 lacs (Previous Year Rs. 4.27 lacs)

10. Related party Disclosures as per Accounting Standard 18-" Related Party Disclosures"

I) Related Party and their relationship

Names of the related party Nature of Relationship

Rajul S. Jhaveri Chairperson

SandeepJhaveri Managing Director

Wellworth Securities Ltd. Assocaite Company

R.S. Jhaveri Steel & Co. Pvt. Ltd. Associate Company

Sangam Press Pvt. Ltd. Associate Company

R.S. Jhaveri & Co. Associate Firm

11) Material transaction with related party

Printing & Stationary Expenses of Rs. 12,91,965 from Sangam Press Pvt. Ltd. Paper Cores & Edge Protector of Rs. 96,23,949 from Wellworth Industries Ltd.

12) Disclosure as per The Micro,Small, and Medium Enterprises Development Act, 2006 :-

(a) The principal amount and the interest due thereon remaining unpaid to any supplier as at the end of each accounting year:- Nil.

(b) The amount of interest paid by the buyer in terms of section 16 of the Micro, Small and Medium Enterprises Devlopment Act, 2006 along with the amount of the payment made to the supplier beyond the appointed day during each accounting year:- Nil.

(c) The amount of interest due and payable for the period of delay in making payment (which have been paid but beyond the appointed day during the year) but without adding the interest specifed under the Micro, Small and Medium Enterprises Devlopment Act, 2006:- Nil.

(d) The amount of interest accured and remaining unpaid at the end of the each accounting year:- Nil.

(e) The amount of further interest remaining due and payable even in the suceeding years, until such date when the interest dues as above are actully paid to the small enterprises, for the purpose of disallowance as a deductible expenditure under section 23 of the Micro, Small and Medium Enterprises Development Act, 2006.:-Nil.

13. Previous years figures have been regrouped/rearranged wherever necessary.