Kandhari Rubbers Ltd. के अकाउंट के लिये नोट

Mar 31, 2013

A. NOTES FORMING PART OF THE ACCOUNTS

1. Contingent Liabilities not provider for :

1. Sales Tax

Assessment year 2000-01 2637439.00

Total 2637439.00 (Previous Year Rs. 2637439.00)

II. Guarantees given by bank on behalf of the Company for Rs. 1251472.00 (Previous Year Rs. 1251472.00). Out of the above, Rs. 1241472.00 is with State Bank of India. The account of the Company with State Bank of India has already turned NPA; hence the margin money on these BGs is not realizable.

2. Estimated amount of contract executed on capital account and pending allocation lor Rs. 318546.00 (Previous Year Rs. $18546.00). ''

3. (I) Managerial remuneration to Directors is Rs. 240000/-.

(II) Auditors remuneration is inclusive of service tax.

4. Value of Imports calculated on C.I.F. basis.

Raw material Rs. NIL Lacks. (Previous Year Rs. NIL)

5. The closing stock is accepted as taken, valued and certified by the management.

6. Expenses pertaining to previous year Rs. NIL.

7. During the year cheque issued for Rs. Nil and Cheque Deposited for Rs NIL were not presented / cleared on the last date.

8. The Provident Fund outstanding is calculated at Rs. 124284.79

9. The depreciation for the current year amounting to Rs. 6461610.00 has not been provided. The depreciation has not been provided since 1998-99.

10. The Company''s reference has been registered by the Board for Industrial and Financial Reconstruction at case number 30 / 2002 on 28.11.2001.

The Tribunal vide reference No. 25 / 2001 dated 04.10.2001 awarded interest payable @ 6 % p.a. for pendent lite and future which has been revised tol0%p.a. vide reference No. 69 / 2001 dated 12.09.2002. The company has not provided liability in respect of interest on these debts aggregating to Rs. 6146390 (Previous year Rs. 6146390). The aggregate amount of interest payable for 2001-2002 to 2011-2012 is Rs.678.02 Lacs (Previous year Rs.616.56 Lacs).

11. The Company has not provided liability in respect of interest on its debt payable to State Bank of India.

12. The unsecured loans & advances listed on the register maintained under section 301 of the Companies Act, 1956 amounts to Rs. 6679338.62 (Previous Year Rs 6662002.62).

13. Loans and advances including amount due from directors, their relatives and Companies under the same management is Rs. 6933605.62 (Previous year Rs. 6969517.52). Maximum balance during the year Rs 6969517.52 (Previous year Rs70,85958.52.).

14. The balances under Sundry Debtors, Loans and Advances and Creditors are subject to confirmation.

15. Accounting of raw material consumption is exclusive of modvat credit utilized during the year. Claims & refunds, if any, shall be accounted for in the year of determination.

16. Sundry Creditors include Rs. 0.00 lacs (Previous year Rs. 0.00 lacs ) due to small scale industrial undertakings to the extent such parties have been identified from available information and Rs. 27.64 lacs ( Previous year Rs. 29.44 lacs ) due to the creditors other than small scale industrial undertakings. Based on the information available with the Company, there is no small scale industrial undertaking where outstanding exceeds Rs. 1 lac for more than 30 days.

17. Company is manufacturing only butyl tubes and as such there are no primary and secondary segments as per the requirement of AS - 17 issued by the Institute of Chartered Accountants of India on "Segment Reporting".

18. In view of uncertainty to have taxable profits in near future, Deferred Tax Assets in accordance with AS - 22 issued by the Institute of Chartered Accountants of. India on "Accounting for Taxes on Income" has not been recognized.

19. Though the accumulated losses of the Company as on 31.03.2013 are in excess of the paid up Capital and Reserves and Surplus, the Company do not have intention to suspend operational activities. Therefore, accounts are prepared on going concern basis.

20. Previous year figures have been re-grouped, rearranged and / or recanted wherever necessary so as to make them comparable with those of the current year. Figures a.e shown in nearest of Rupees. Figures in brackets relates to previous year.

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Mar 31, 2012

I. Guarantees given by bank on behalf of the Company for Rs. 1251472.00 (Previous Year Rs. 1251472.00). Out of the above, Rs. 1241472.00 is with State Bank of India. The account of the Company with State Bank of India has already turned NPA; hence the margin money on these BGs is not realizable.

1. Estimated amount of contract executed on capital account and pending allocation for Rs. 318546.00 (Previous Year Rs. 318546.00).

2. (I) Managerial remuneration to Directors is Rs. 363197/-.

(II) Auditors remuneration is inclusive of service tax.

** Installed capacity is as certified by Management but not verified by the Auditors.

3. Value of Imports calculated on C.I.F. basis.

Raw material Rs. NIL Lacks. (Previous Year Rs. NIL)

4. The closing stock is accepted as taken, valued and certified by the management.

5. Expenses pertaining to previous year Rs. NIL.

6. During the year cheque issued for Rs. 2102.00 and Cheque Deposited for Rs NIL were not presented / cleared on the last date.

7. The Provident Fund outstanding is calculated at Rs. 124284.79

8. The depreciation for the current year amounting to Rs. 6461610.00 has not been provided. The depreciation has not been provided since 1998-99.

9. The Company''s reference has been registered by the Board for Industrial and Financial Reconstruction at case number 30 / 2002 on 28.11.2001.

The Tribunal vide reference No. 25 / 2001 dated 04.10.2001 awarded interest payable @6% p.a. for pendent late and future which has been revised tol0%p.a. vide reference No. 69 / 2001 dated 12.09.2002. The company has not provided liability in respect of interest on these debts aggregating to Rs. 6146390 (Previous year Rs. 6146390). The aggregate amount of interest payable for 2001-2002 to 2011-2012 is Rs.678.02 Lacs (Previous year Rs.616.56 Lacs) .

10. The Company has not provided liability in respect of interest on its debt payable to State Bank of India.

11. The unsecured loans & advances listed on the register maintained under section 301 of the Companies Act, 1956 amounts to Rs. 6679338.62 (Previous Year Rs 6662002.62).

12. Loans and advances including amount due from directors, their relatives and Companies under the same management is Rs. 6969517.52 (Previous year Rs. 6962985.62). Maximum balance during the year Rs 7085958.52 (Previous year Rs. 6975032.52).

13. The balances under Sundry Debtors, Loans and Advances and Creditors are subject to confirmation.

14. Accounting of raw material consumption is exclusive of modvat credit utilized during the year. Claims & refunds, if any, shall be accounted for in the year of determination.

15. Sundry Creditors include Rs. 0.00 lacs (Previous year Rs. 0.00 lacs ) due to small scale industrial undertakings to the extent such parties have been identified from available information and Rs. 29.44 lacs ( Previous year Rs. 40.91 lacs ) due to the creditors other than small scale industrial undertakings. Based on the information available with the Company, there is no small scale industrial undertaking where outstanding exceeds Rs. 1 lac for more than 30 days.

16. Company is manufacturing only butyl tubes and as such there are no primary and secondary segments as per the requirement of AS - 17 issued by the Institute of Chartered Accountants of India on "Segment Reporting".

17. In view of uncertainty to have taxable profits in near future, Deferred Tax Assets in accordance with AS - 22 issued by the Institute of Chartered Accountants of India on "Accounting for Taxes on Income" has not been recognized.

18. Though the accumulated losses of the Company as on 31.03.2012 are in excess of the paid up Capital and Reserves and Surplus, the Company do not have intention to suspend operational activities. Therefore, accounts are prepared on going concern basis.

19. Previous year figures have been re-grouped, rearranged and / or recanted wherever necessary so as to make them comparable with those of the current year. Figures are shown in nearest of Rupees. Figures in brackets relates to previous year.

We have examined the above cash flow statement of Kandhari Rubbers Ltd., for the year ended 31.03.2012 The statement has been prepared by the Company in accordance with clause 32 of listing agreement with stock exchanges & is based on & in agreement with Balance Sheet & Profit & Loss Account of the Company concerned by our Report of 25.07.12 to the members of the Company

Note : Figures in brackets represent out flows.

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Mar 31, 2009

1. GRATUITY PROVISIONS

Provision for gratuity is made on the basis of self valuation by the Company based on provisions under Payment of Gratuity Act, 1972. The Directors of the Company have not been considered employees for this purpose.

2. INVESTEMTS

Investments are stated at cost.

3. ACCOUNTING CONCEPTS

I. The company follows mercantile system of accounting, following the amendment in Income Tax Act, 1961.

II. Financial Statements are based on historical cost. These costs are not adjusted to reflect the impact of changes in purchasing power of money.

4. CONTINGENT LIABILITIES

Contingent Liabilities are determined on the basis of available information and are disclosed by way of Notes on Accounts.

II. Guarantees given by bank on behalf of the Company for Rs. 1251472.00 (Previous Year Rs. 1251472.00). Out of the above, Rs. 1241472.00 is with State Bank of India. The account of the Company with State Bank of India has already turned NPA; hence the margin money on these BGs is not realizable.

5. Estimated amount of contract executed on capital account and pending allocation for Rs. 318546.00 (Previous Year Rs. 318546.00).

6. (I) Managerial remuneration to Directors is Rs. 313000/-. (II) Auditors remuneration is inclusive of service tax.

7. Value of Imports calculated on C.I.F. basis.

Raw material Rs. NIL Lacks. (Previous Year Rs. NIL)

8. The closing stock is accepted as taken, valued and certified by the management.

9. Expenses pertaining to previous year Rs. NIL.

10. During the year cheque issued for Rs. 0.00 and Cheque Deposited for Rs NIL were not presented / cleared on the last date.

11. The Provident Fund outstanding is calculated at Rs. 171686.79

12. Cash worth Rs. 26535.41 is with Income tax Department.

13. The depreciation for the current year amounting to Rs. 6461610.00 has not been provided. The depreciation has not been provided since 1998-99.

14. The Companys reference has been registered by the Board for Industrial and Financial Reconstruction at case number 30 / 2002 on 28.11.2001.

15. The Debt Recovery Tribunal, Rajasthan has passed Recovery certificate in favour of the FIs as under:

IFCI Rs. 24429269

IDBI Rs. 25955747

ICICI Rs. 11078883

Rs. 61463899

The Tribunal vide reference No. 25 / 2001 dated 04.10.2001 awarded interest payable @ 6 % p.a. for pendent lite and future which has been revised tol0%p.a. vide reference No. 69 / 2001 dated 12.09.2002. The company has not provided liability in respect of interest on these debts aggregating to Rs. 6146390 (Previous year Rs. 6146390). The aggregate amount of interest payable for 2001-2002 to 2006-2007 is Rs.37073562 (Previous year Rs.30927172).

16. The Company has not provided liability in respect of interest on its debt payable to State Bank of India.

17. The unsecured loans & advances listed on the register maintained under section 301 of the Companies Act, 1956 amounts to Rs. 6418948.62 (Previous Year Rs 6420779.62).

18. Loans and advances including amount due from directors, their relatives and Companies under the same management is Rs. 7240122.52 (Previous year Rs. 6884300.52). Maximum balance during the year Rs 7244510.52 (Previous year Rs. 7164250.52).

19. The balances under Sundry Debtors, Loans and Advances and Creditors are subject to confirmation.

20. Accounting of raw material consumption is exclusive of modvat credit utilized during the year. Claims & refunds, if any, shall be accounted for in the year of determination.

21. Sundry Creditors include Rs. 0.00 lacs (Previous year Rs. 0.05 lacs ) due to small scale industrial undertakings to the extent such parties have been identified from available information and Rs. 40.28 lacs ( Previous year Rs. 32.80 lacs ) due to the creditors other than small scale industrial undertakings. Based on the information available with the Company, there is no small scale industrial undertaking where outstanding exceeds Rs. 1 lac for more than 30 days.

22. Related Party Disclosure

List of related parties with whom transactions have taken place during the year:

Name of related Party Name of Type of Payment Amt. relationship (Rs.in Lacs)

Sh. Harish Kandhari Managing Remuneration 1.80 Director Monetary value of 0.00 Perquisites



23. Company is manufacturing only butyl tubes and as such there are no primary and secondary segments as per the requirement of AS - 17 issued by the Institute of Chartered Accountants of India on "Segment Reporting".

24. In view of uncertainty to have taxable profits in near future, Deferred Tax Assets in accordance with AS - 22 issued by the Institute of Chartered Accountants of India on "Accounting for Taxes on Income" has not been recognized.

25. Though the accumulated losses of the Company as on 31.03.2009 are in excess of the paid up Capital and Reserves and Surplus, the Company do not have intention to suspend operational activities. Therefore, accounts are prepared on going concern basis.

26. Previous year figures have been re-grouped, rearranged and / or recasted wherever necessary so as to make them comparable with those of the current year. Figures are shown in nearest of Rupees. Figures in brackets relates to previous year.