Mihijam Vanaspathi Ltd. के अकाउंट के लिये नोट

Mar 31, 2012

Notes: 1

1) Contingent liabilities not provided for in respect of the claims against the Company, which has not been acknowledged as debts:

i) Central Excise - Rs. 6.32 lacs (Net of Rs. 0.55 lacs deposited) (Previous Year Rs. 6.32 lacs, net of Rs. 0.55 lacs deposited).

ii) Customs - Rs. 106.89 lacs (Net of Rs. 55.00 lacs deposited) (Previous year Rs. 106.89 lacs, net of Rs. 55.00 lacs deposited)

iii) Different Appeals pending before Commercial Taxes Authorities - Rs. 19.91 lacs (Net of Rs. 9.97 Lacs deposited) (Previous Year Rs. 19.91 lacs, net of Rs. 9.97 lacs deposited).

iv) Excise & Sales tax liability on bye products - Amount not ascertainable.

v) Different Appeals pending before CIT (A) Ranchi - Rs. 189.13 lacs (Net of Rs. 25.00 Lacs deposited) (Previous Year Rs. 189.13 lacs, net of Rs. 20.00 lacs deposited)

vi) Guarantees issued by the Company on behalf of Associates Rs. 1629.50 Lacs (Previous Year Rs. 1629.50).

Note: 2

As the Company's business activity falls within a single primary business segment. Viz; 'Edible oil' the disclosure requirement of Accounting Standard - 17 "Segment Reporting" as notified by Companies (Accounting Standards) Rule, 2006 (as amended) are not applicable.

Note: 3

Related Party Disclosure as prescribed by Accounting Standard - 18 issued by The Institute of Chartered Accountants of India is as below:

List of Related parties

i) Associates of the company Gaurang Alloys & Iron Ltd. Rajesh Auto Merchandise Private Limited S R Enterprises Bhasa Construction and Industrial Projects Pvt. Ltd. Urmindra Vincom Pvt. Ltd. Anoop Tea Co. Pvt. Ltd. Max-cot Vyapaar Pvt. Ltd. Tamanna Commosales Pvt. Ltd.

ii) Managerial Personnel Directors

Sri Amar Agarwal Sri Amit Agarwal Sri Rajesh Agarwal Sri Arup Roy Sri Anis Khan

Note: 4

There are no dues to micro, small & medium enterprises as at the Balance Sheet date and no interest has been paid to any such parties. This is based on the information on such parties having been identified on the basis of information available with the company and relied upon by the auditors.

Note: 5

a) The company has made adequate provision for Income tax based on the current year's taxable income. As the tax under Minimum Alternative Tax is higher than the tax computed under the normal provisions of the Income tax Act, 1961 provision for current tax has been made as per Minimum Alternative Tax provisions of the Income Tax Act, 1961.

Note: 6

Earning and Expenditure in foreign currency Rs. Nil (Previous year Rs. Nil)

Note: 7

In view of the revision to the schedule VI as per notification issued by the Central Government, the Financial Statements for the year ended 31st March, 2012 have been prepared as per requirements of the revised schedule VI to the Companies Act, 1956. The previous year's figures have been accordingly regrouped/reclassified to confirm the current year's figure.

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Mar 31, 2010

1) Contingent liabilities not provided for in respect of the claims against the Company, which have not been acknowledged as debts:

i) Central Excise - Rs. 6.32 lac (Net of Rs. 0.55 lac deposited) (Previous Year Rs.9.00 lac, net of Rs. 3.22 lac deposited).

ii) Customs - Rs. 106.89 lac (Net of Rs. 55.00 lac deposited) (Previous year Rs. 106.89 lac, net of Rs. 55.00 lac deposited)

iii) Different Appeals pending before Commercial Taxes Authorities - Rs. 578.23 lac (Net of Rs 13.93 Lac deposited) (Previous Year Rs. 338.95 lac, net of Rs. 14.22 lac deposited).

iv) Excise & Sales tax liability on bye products - Amount not ascertainable.

v) Different Appeals pending before CIT (A) Ranchi - Rs. 206.62 lac (Net of Rs 10.00 Lac deposited) (Previous Year Rs. Nil).

2) Purchases are net of claims received against shortages and quality.

3) There are no separate reportable segments as per Accounting Standard 17 as the entire operations of the Company relate to one segment, viz. edible oil.

4) Balances of Sundry Debtors and Sundry Creditors are subject to confirmation.

5) Disclosure in respect of Related Parties pursuant to Accounting Standard 18

a) List of Related parties

i) Associates

Gaurang Alloys & Iron Limited

Rajesh Auto Merchandise Private Limited

S R Enterprises

Bhasa Construction and Industrial Projects Private Limited

Urmindra Vincom Private Limited

b) List of Managerial Personnel

i) Directors

Sri Amar Agarwal

Sri Amit Agarwal

Sri Rajesh Agarwal

Sri Arup Roy

Sri Anis Khan

6) Due to non-availability of adequate documents/information from parties, the Company is not in a position to furnish the information with regard to the small scale undertaking as on 31st March, 2010 as required vide Notification no. G.S.R. 129(E) dated 22nd February, 1999 issued by the Department of Company Affairs.

7) Additional information pursuant to provisions of paragraph 3, 4C, 4D of part II of Schedule VI to The Companies Act, 1956.

8. Earning and Expenditure in foreign currency Rs. Nil (Previous year Rs. Nil)

9) Corresponding figures of the previous year have been regrouped and/or re-arranged wherever considered necessary.

10) Figures are rounded off to the nearest rupee.

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Mar 31, 2009

1) Contingent liabilities not provided for in respect of the claims against the company which have, not been acknowledged as debts:

i) Central Excise - Rs. 9.00 lacs (Net of Rs. 3.22 lacs deposited) (Previous Year Rs.9 lacs, net of Rs. 3.22 lacs deposited).

ii) Customs - Rs. 106.89 lacs (Net of Rs. 55.00 lacs deposited) (Previous year Rs 106.89lacs, net of Rs. 55.00 lacs deposited) iii) Different Appeals pending before Commercial Taxes Authorities - Rs. 338.95 lacs (Net of Rs 14.22 Lacs deposited) (Previous Year Rs. 338.95 lacs, net of Rs. 14.22 lacs deposited). iv) Bank Guarantee & Others - Rs. 0.45 lacs (Previous year Rs. 0.45 lacs)

v) Excise & Sales tax liability on bye products - Amount not ascertainable.

2) Purchases are net of claims received against shortages and Quality.

3) There are no separate reportable segments as per Accounting Standard 17 as the entire operations of the Company relate to one segment, viz. edible oil.

4) Disclosure in respect of Related Parties pursuant to Accounting Standard 18 a) List of Related parties

i) Associates

Gaurang Alloys & Iron Ltd

Rajesh AutoMerchandise Private Limited

S. R. Enterprisess

Bhasa Construction And Industrial Projects Pvt. Ltd.

Umundra Vincom Pvt. Ltd.

5) Due to non-availability of adequate documents/information from parties, the company is not in a position to furnish the information with regard to the small scale undertaking as on 31st March 2009 as required vide Notification no. G.S.R. 129(E) dated 22nd February 1999 isSued by the Department of Company Affairs.

6) In compliance with the Accounting Standard 22 relating to Accounting for Taxes on Income, the Company has recognized cumulative deferred tax liabilities (net) amounting Rs. 27.91 lac (deferred tax liabilities (net) Rs. 34.53 lac as on 1.4.2008).

The compositions of deferred tax assets and liabilities on account of timing differences as on 31st March 2009 are- Net Block difference as per Tax law & Book - Rs. 82.93 lac, resulting in deferred tax liabilities (net) of Rs. 27.91 lac.

7) Corresponding figures of the previous year have been regrouped and/or re-arranged wherever considered necessary.

8) Figures are rounded off to the nearest rupee.