Kamar Chemicals & Industries Ltd. के अकाउंट के लिये नोट

Mar 31, 2014

1. Terms and Rights attached to Equity Shares

The Company one two classes of equity Shares. Each shareholder is entitled to one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the share holders. In the event of liquidation of the company, the holders of equity share will be entitled to receive remaining assets of the company, after distribution of all preferential amounts and preference share holders. The distribution will be in proportion to the number of equity shares held.

2. Terms and Rights attached to Preference shares

The company has one class of preference shares ie.15% Redeemable cumulative preference shares of Rs.100/- per share. In the event of liquidation of the company, the holders of preference share will be entitled to receive outstanding amount including dividend after distribution of all other preferential amounts in proportion to their shareholding. In the event of winding - up of the Company before redemption of preference shares, the holders Cumulative Redeemable preference share will have priority over equity shares in the payment of dividend and repayment of capital.

3. Share application money pending :

Share application money pending allotment represents application received on account of key employees and directors of companies.

4. 15% cumulative Redeemable Preference Shares :

5600 Nos. of 15% cumulative Redeemable Preference Shares of Rs.100/- each have been overdue for redemption since from 30-12-2000.

5. During the financial year 2007-08 SIPCOT had exercised its rights of selling the assets by calling for tenders and had sold the assets for a consideration of Rs.285 lakhs for the settlement of dues due to SIPCOT. In the absence of adequate confirmation from SIPCOT, the balance amount outstanding after the adjustment of above sale proceeds is not known. In view of the above, interest also has not been provided for the year

6. As the Company is not engaged in the business of manufacturing or sale activity, there are no reportable segments as per (AS-17) issued by The Institute of Chartered Accountants of India.

7. The Company does not have any related party transaction, as specified in (AS-18) issued by The Institute of Chartered Accountants of India.

8. Deferred Tax is recognized on timing differences; being the difference between the taxable incomes and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

Deferred Tax Assets subject to the consideration of prudence are recognized and carried forward only to the extent that there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized.

Based on the above, the Company has not recognized "Deferred Tax Asset''".

9. Third party balances are subject to confirmation.

10. Figures have been rounded off to the nearest rupee.

11. Previous years figures have been regrouped / re-classified wherever necessary to conform to the current year classification.

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Mar 31, 2013

I During the financial year 2007-08 SIPCOT had exercised its rights of selling the assets by calling for tenders and had sold the assets for a consideration of Rs.285 lakhs for the settlement of dues due to SIPCOT. In the absence of adequate confirmation from SIPCOT, the balance amount outstanding after the adjustment of above sale proceeds is not known. In view of the above, interest also has not been provided for the year.

II As the company is not engaged in the business of manufacturing or sale activity, there are no reportable segments as per (AS-17) issued by The Institute of Chartered Accountants of India.

III The Company does not have any related party transaction, as specified in (AS-18) issued by The Institute of Chartered Accountants of India.

IV Deferred Tax is recognized on timing differences; being the difference between the taxable income''s and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

Deferred Tax Assets subject to the consideration of prudence are recognized and carried forward '' only to the extent that there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized.

Based on the above, the company has not recognized "Deferred Tax Asset".

V Third party balances are subject to confirmation.

VI Figures have been rounded off to the nearest rupee.

VII Previous years figures have been regrouped / re-classified wherever necessary to conform to the current year classification.

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Mar 31, 2012

A. Terms and Rights attached to Equity Shares

The Company has one Class of equity Shares having Par value of Rs.10/- per share and Preference Shares having par value of Rs.100/- per share. Each holder of equity shares is entitled to one vote. In the event of liquidation of the company, the holders of equity share will be entitled to receive remaining assets of the company, after distribution of all preferential amounts and Preference share holders. The distribution will be in proportion to the number of equity shares held.

* The Company has not identified the status if creditors under the Micro Small & Medium Enterprises Development Act,2006 as the relevent information is not available and hence,disclosures relating to amounts unpaid as at the year end together with interest payable under this Act have not been made

I CHANGE IN FINANCIAL REPORTING FORMAT UNDER SCHEDULE VI

The financial statements for the year ended 31st March, 2011 had been prepared as per the then applicable, pre - revised Schedule VI to the Companies Act, 1956. Consequent to the notification under the Companies Act, 1956, the financial statements for the year ended 31st March, 2012 are prepared under revised Schedule VI. Accordingly, the previous year figures have also been reclassified to confirm to this year's classification. The adoption of Revised Schedule VI for previous year figure does not impact recognition and measurement , principles followed for preparation of financial statements.

II Third party balances are subject to confirmation.

III Figures have been rounded off to the nearest rupee.

IV Previous years figures have been regrouped / re-classified wherever necessary to conform to the current year classification.

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Mar 31, 2011

1. During the financial year 2007-08 SIPCOT had exercised its rights of selling the assets by calling for tenders and had sold the assets for a consideration of Rs 285 Lakhs for the settlement of dues due to SIPCOT. In the absence of adequate confirmation from SIPCOT, the balance amount outstanding after the adjustment of above sale proceeds is not known In view of above, interest provision also has not been provided for the year.

2. 5600 Nos. of 15% Cumulative Redeemable Preference Shares of Rs.100/- each have been overdue for redemption since from 30.12.2000.

3. As the Company is not engaged in the business of manufacturing or sale activity, there are no reportable segments as per (AS-17) issued by The Institute of Chartered Accountants of India.

4. The Company does not have any related party transaction, as specified in (AS-18) issued by The Institute of Chartered Accountants of India.

5. DEFERRED TAX

As per the pronouncement of Accounting Standard 22 "Accounting for Taxes on Income" issued by The Institute of Chartered Accountants of India:

"Where an enterprise has unabsorbed depreciation or carry forward of losses under tax laws, deferred tax assets shouia be recognised only to the extent that there is virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax assets can be realised".

Based on the above, the Company has not recognised "Deferred Tax Asset"

6. The balances in Sundry Debtors; Sundry Creditors ana dues to Financial Institutions are subject to confirmation

7. The Company has not identified the status of creditors under the Micro Small & Medium Enterprises Development Act, 2006 as the relevant information is not available and hence, disclosures relating to amounts unpaid as at the year end together with interest payable under this Act have not been made

8. Previous year's figures have been reclassified and regrouped wherever necessary to conform to the current year's classification.

9. Figures have been rounded off to the nearest rupee.

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Mar 31, 2010

1. During the financial year 2007-08 SIPCOT had exercised its rights of selling the assets by calling for tenders and had sold the assets for a consideration of Rs 285 Lakhs for the settlement of dues due to SIPCOT. |n the absence of adequate confirmation from SIPCOT, the status of the balance amount outstanding after the adjustment of above sale proceeds is not known. In view of above, interest provision also has not been provided for the year.

2. 5600 Nos. of 15% Cumulative Redeemable Preference Shares of Rs.100/- each have been overdue for redemption since from 30.12.2000.

3. As the company is not engaged in the business of manufacturing or sale activity, there are no reportable segments as per (AS-17) issued by The Institute of Chartered Accountants of India.

4. The Company does not have any related party transaction, as specified in (AS-18) issued by The Institute of Chartered Accountants of India.

5. DEFERRED TAX

As per the pronouncement of Accounting Standard 22 "Accounting for Taxes on Income" issued by the Institute Of Chartered Accountants of India:

"Where an enterprise has unabsorbed depreciation or carry forward of losses under tax laws, deferred tax assets should be recognised only to the extent that there is virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such deferred tax assets can be realised".

Based on the above, the company has not recognised "Deferred Tax Asset".

6. The balances in Sundry Debtors, Sundry Creditors and dues to Financial Institutions are subject to confirmation.

7. The company has not identified the status of creditors under the Micro Small & Medium Enterprises Development Act, 2006 as the relevant information is not available and hence, disclosures relating to amounts unpaid as at the year end together with interest payable under this Act have not been made.

8. Previous years figures have been reclassified and regrouped wherever necessary to conform to the current years classification.

9. Figures have been rounded off to the nearest rupee.