Kerala Rubber & Reclaims Ltd. के अकाउंट के लिये नोट

Mar 31, 2009

1. The Company is small and medium sited Company (SMC) as defined in the General Instruction in respect of Accounting Standards notified under the Companies Act, 1956. Accordingly, the Company has complied with the Accounting Standard to the extent to which they are applicable to small and Medium sized company,

2. Contingent Liabilities

a) Arrears of Fixed Cumulative Preference Rs.46,44,314.00 [46,44,314.00)

As per the terms of issue 9.5% Cumulative Redeemable Preference Shares are redeemable at par of the 12 years but not later than 15 years from the date of issue ie: 3.8.1968. The company has extended the redumption date from 4.8.1983 to 3.8.1988 with the consent of the share holders. The dividend rate of 9.5% has been also enhanced to 13.5% with effect from 4.8.1983. As on the date of signing the Balance Sheet, the said period is over and the Company has neither redeemed the shares nor extended the redemption with the consent of the share holders.

b) Guarantee issued by the Bank on behalf of the Company for which counter guarantees have been issued by the Company Rs, 7.17 lakhs.

c) Sales Tax department has raised a demand of Rs. 6.11 lakh for the assessment year 2000-01. The Company has disputed the demand and the appeal files before the Sales Tax appellate tribunal is pending disposal. Against the demand Company has paid Rs. 2,04 lakhs and the payments were charged off to revenue in the year of payment.

3. The sunsecured loans/debtors/creditors/loans and advances made by/to the company and balance with Central Excise are subject to confirmation.

4. The lease hold land valued at Rs. 305394.00 and grouped under fixed assets represents, lease deposit of Rs. 2,00,000.00 registration and stamp duty amouting to Rs. 17,426 (Ru- pees seventeen thousand four hundred and twenty six only) and expenditure on alloca- tion on capital accounts amounting to Rs. 40,274.00 and development expenses amount- ing to Rs. 47,694.50. The lease is to be determined at the end of 20 years from the date of commencement of the agreement and the lease deposit is to be refunded to the company on determination of the lease. Consequently no depreciation is written off on this asset during the year. The lease period is terminated on 16.11.2002 and the lease deposit is due from the leasor.

5. In the opinion of the Board, all the current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the amount of which they are stated except as expressly stated otherwise. The provisions for depreciation and all known liabilities are adequate and not in excess of the amount reasonably necessary.

6. Loans and Advances include Rs. 17.36 lakhs (17.361akhs) due from a firm and two companies in which Directors are interested. Maximum amount due at any time during the year was Rs. 17.36 lakhs (Rs. 17.36 lakhs).

7. As no intimation from suppliers regarding their status under micro, small and medium enteprises (development) Act, 2006 has been received, disclosure regarding amounts, if any, unpaid at the year end together with interest paid/payable as required under the said Act have not been furnished.

8. Income/Expenses relating to the previous year which are less than Rs. 10,000/- each are not reckoned for disclosure purpose since it is not material considering the scale of opera- tions of the company.

9. The company is eligible to consider deferred tax asset on account of carry forward loss. However, the same is not recognized as matter of prudence.

10. Earnings per share is calculated on the basis of weighted average of equity shares outstanding during the year.

11. Figure in brakets In notes on account relate to the previous year.