Lalit Polymers & Electronics Ltd. के अकाउंट के लिये नोट

Mar 31, 2015

Note 1 - Contingent Liabilities

In respect of Current Year Last Year

Claim against the company not acknowledged as debts 133128.65 133128.65

Note 2

The Company is engaged in the business of manufacturing and laying & jointing of Asbestos Cement Products, which as per Accounting Standard -17 and in the opinion of the management, is considered to be the only reportable business segment. The geographical segmentation is not relevant.

Note 3

Disclosure in respect of Related Parties pursuant to Accounting Standard-18 List of Related Parties

DISCLOSURE RELATED PERSON

A. Key Managerial Personnel i) Shri Sanjay Kumar Kanoria, Director

ii) Smt.Priyadarshini Kanoria,Director

B. Name of Related Enterprises i) Kanoria Sugar and General in which Directors are Manufacturing Company Limited Interested ii) Chiraj Stock & Securities Pvt.Ltd.

Note 4

Debit/Credit Balances in Parties Account are subject to confirmation.

Note 5- Micro, Small & Medium Scale business entities

There are Micro, Small and Medium Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at 31st March, 2015. This information is required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006, and have been determined to the extent such parties have been identified on the basis of information available with the Company. The outstanding dues which are more than 45 days old amounting to Rs NIL (Previous Year Rs.NIL ).

Interest paid to others is 1.21 Lacs (Previous year Rs.0.07 Lacs). Tax deducted at source is Rs.Nil Lacs (Previous year Rs.Nil)

Note 6

In the opinion of the management, all the Current Assets, Loans & Advances have a value on realization in the ordinary course of business equal to an amount at which they are stated.

Note 7 - Tax Assessment

Liability, if any, arises on completion of pending assessment in respect of VAT, Service Tax, Income Tax, etc. will be provided in the year of completion of such assessment.

Note 8

Consequent to the Notification under the Company's Act, 2013; the Financial Statements for the year ended on 31st March 2015 are prepared under the Schedule III of the Companies Act, 2013.

Note 9 - Foreign Exchange Earning and Outgo

There were no export earnings and foreign exchange outflow during the year Rs. Nil (Previous year Rs. Nil).

Note 10

Additional information pursuant to the provisions of para-3, 4C and 4D of Para-II of Schedule of VI to the Company's Act,1956.

The Company has entered into an agreement vide letter dated 24th May,2014 which was later modified by an extension letter dated 20th May,2015 for sale of land &building as well as part of plant & machineries to M/s Patni Foams Pvt. Ltd., having its office at shop no. 12, Chetna Apartment 2423 East street Saifee Lane, Camp Pune-411001 at total consideration of Rs. 165 Lakhs and Rs. 21 Lakhs respectively. Profit on sale of land & building and part of plant & machinery will be recognised on finalization of sale and handling over of possession.

Note 11

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

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Mar 31, 2010

1. Contingent liabilities

In respect of Current year

i) Claim against me company not acknowledged as debt. 133128.65

2. Related parties disclosures:

A) Transactions with related Parties

S.NO.DISCLOSURE RELATED PERSON

1. Name of the Related persons Shri Sanjay Kumar Kanoria - -Director Director Smt. Priyadarshini Kanoria - Director

3. Name of the Related Enterprises Kanoria Sugar & General Mfg. in which Directors are Co. Ltd.A Infrastructure interested Limited

Description of the nature of transactions a. Loan / advance taken by 1,08,89,939/-. Company

3. Micro, Small & Medium Scale business entities

There are no Micro, Small and Medium Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at 31st March, 2010. This information required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006, and have been determined to the extent such parties has been identified on the basis of information available with the Company.

4. Interest paid to others is Rs.3.50 lacs (Previous year Rs. Nil). Tax deducted at source is Rs. Rs.0.35 lacs (Previous year Rs. Nil).

5. In the opinion of the management, all the Current Assets, Loans & advances have the Value on realization in the ordinary course of business and equal to the amount at which they are stated.

6. Liability, if any arises on completion of pending-assessment in respect of VAT, Service Tax and IncomeTax etc. will be provided in the year of completion of such assessment.

7. Previous year figures have been regrouped/re-arranged wherever considered necessary to confirm with current year's classification. /

8. A schedule 1 to 13 forms an integral part of the accounts and has been duly authenticated.

9. Foreign Exchange Earning and Outgo

There were no export earnings and foreign exchange out flow during the year.(Previous year Nil).