Morgan Industries Ltd. के अकाउंट के लिये नोट

Mar 31, 2014

1. Preference Shares:

5,00,000 Redeemable 5% Cumulative Preference Shares of Rs.100/- each aggregating to Rs.500 lakhs were allotted on 30.06.2006 and 23.05.2008 and are redeemable on or before 30.06.2016 & 23.05.2018 at the option of the Company. Arrears of Preference Dividend for the period ending 31.03.2014 is Rs.179.56 lakhs (Rs.154.56 lakhs as on 31.03.2013).

2.Related Party Disclosure:

Information on related party transactions as required by Accounting Standard 18 for the year ended 31.03.2014.

3. Since Excise Duty is paid on removal of goods under self-removal procedure, provision has not been made in the accounts for Excise Duty in respect of closing stock of Finished Goods lying at the factory as on 31.03.2014. This company is in the process of identifying active inventories, evaluation of which may render suitable adjustments if any, on completion of the exercise. However at this stage no provision thereby arises and hence no adjustments are considered necessary in the accounts.

4. Provision for accrued gratuity and leave encahment benefits payable to employees has been made on the basis of actuarial valuation as per Accounting standard - 15, but the same has not been funded.

5. The previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year classification / disclosure.

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Mar 31, 2013

1: Contingent Liabilities and Provisions:

a. Bank guarantees outstanding ,

(Rs.in Lakhs)

As on 31.03.13 As on 31.03.12

NIL NIL

0.17 0.17

2. Preference Shares:

5,00,000 Redeemable 5% Cumulative Preference Shares of Rs.100/- each aggregating to Rs.500 lakhs were , allotted on 30.06.2006. and 23.05.2008 and are redeemable on or before 30.06.2016 & 23.05.2018 at the option of the Company. Arrears of Preference Dividend for the period ending 31.03.2013 is Rs.154.56 lakhs (Rs.129.56 lakhs as on 31.03.2012).

3. Since Excise Duty is paid on removal of goods under self-removal procedure, provision has not been made in the accounts for Excise Duty in respect of closing stock of Finished Goods lying at the factory as on 31.03.2013. Non provision of this liability will not affect the profitability of the Company.

4. Inventories include-non-moving materials valued at Rs.2.96 lakhs as on 31.03.2013 (Rs.3.95, lakhs as on 31.03.2012).

5. No confirmation from parties of the closing balances as at 31.03.2013 reflected in the books of accounts in respect of Unsecured Loans, Trade creditors, Sundry debtors, Loans and advances, Deposits and other Liabilities have been obtained.

6. There are no micro, small and medium enterprises as defined in the Micro Small and Medium Enterprises Development Act 2006 (Act) to whom the company owes dues on account of principal amounts together with interest. Accordingly no additional disclosures have been made.

7. Segment Reporting as per AS-17 is not applicable as the Company is operating only in one segment.

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Mar 31, 2012

1.Preference Shares:

5,00,000 Redeemable 5% Cumulative Preference Shares of Rs.100/- each aggregating to Rs.500 lakhs were allotted on 30.06.2006 and 23.05.2008 and are redeemable on or before 30.06.2016 & 23.05.2018 at the option of the Company. Arrears of Preference Dividend for the period ending 31.03.2012 is Rs.129.56 lakhs (Rs.104.56 lakhs as on 31.03.2011).

2.Reiatad Party Disclosure:

Information on related party transactions as required by Accounting Standard 18 for the year ended 31.03.2012.

3. Since Excise Duty is paid on removal of goods under self-removal procedure, provision has not been made in the accounts for Excise Duty in respect of closing stock of Finished Goods lying at the factory as on 31.03.2011. Non provision of this liability will not affect the profitability of the Company.

4. Inventories include non-moving materials valued at Rs3.95 lakhs as on 31.03.2012 (Rs.4.32 lakhs as on 31.03.2011).

5. No confirmation from parties of the closing balances as at 31.03.2012 reflected in the books of accounts in respect of Unsecured loans. Trade creditors. Sundry debtors. Loans and advances. Deposits and other Liabilities have been obtained.

6.ln respect of Term Loan availed from a bank no interest has been provided in the books upto the date of Balance Sheet as the loan has become NPA in the bank books and the bank has charged any interest from the date of account becoming NPA and has not provided any confirmation of balance. In the absence of confirmation the company has not provided the interest in the books.

7. There are no micro, small and medium enterprises as defined bi the Micro Small and Medium Enterprises Development Act 2006 (Act) to whom the company owes dues on account of principal amounts together with interest Accordingly no additional disclosures have been made.

8. Segment Reporting as per AS-17 is not appBcable as the Company is operating only in one segment

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Mar 31, 2010

1.Preference Shares:

5,00,000 Redeemable 5% Cumulative Preference Shares of Rs.100/- each aggregating to Rs.500 lakhs were allotted on 30.06.2006 and 23.05.2008 and are redeemable on or before 30.06.2016 & 23.05.2018 at the option of the Company. Arrears of Preference Dividend for the period ending 31.03.2010 is Rs.79.56 lakhs (Rs.54.56 lakhs as on 31.03.2009).

2. CONTINGENT LIABILITIES (Rs. in Lakhs) As on As on 31.03.10 31.03.09 a. Customs duty payable on goods in bonded warehouse/port — 26.49

b. Bank guarantees outstanding 9.49 11.56

(Remuneration includes Salary, Allowances, Bonus and contibution to Provident Fund)

3. Inventories include non-moving materials valued at Rs.4.08 lakhs as on 31.03.2010 (Rs.4.43 lakhs as on 31.03.2009).

4. No confirmation from parties of the closing balances reflected in the books of accounts in respect of Sundry creditors, Sundry debtors, Loans and advances, Deposits and other Liabilities are available.

5. There are no micro, small and medium enterprises as defined in the Micro Small and Medium Enterprises Development Act 2006 (Act) to whom the company owes dues on account of principal amounts together with interest. Accordingly no additional disclosures have been made.

6. Employee retirement benefits:

No provision for Leave Encashment has been made and no actuarial valuation has been made for the same. Liability provided towards Gratuity has been provided on the basis of actuarial valuation but the same has not been funded.

7. Previous years figures have been regrouped / reclassified wherever necessary.

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Mar 31, 2009

1. Preference Shares

5,00,000 Redeemable 5 % Cumulative Preference Shares of Rs 100/- each aggregating to Rs.500 lakhs were alloted oh 30,06.2006 and 23.05.2008 andare redeemable on or before 30.06.2016 and 23.05.2018 at the option of the Company. Arrears of Preference Dividend for the period ending 31.03.2009 is Rs.54.56 lakhs (Rs.30.63Lakhs as on 31.03.2008).-

2. CONTINGENT LIABILITIES (Rs. in Lakhs)

As on 31.03.09 As on 31.03.08

a. Customs duty payable on goods in bonded warehouse/port 26.49 26.49

b. Bank guarantees outstanding 11.56 11.56

3. DIRECTORS REMUNERATION

a. Managing Director 10.47 11.47

b. Executive Director 7,15 7.57

(Remuneration includes Salary, Allowances, Bonus and contribution to Provident Fund.)

4. Since Excise Duty is paid on remoyai of goods under self -removal procedure, provision has not been made in the accounts for Excise duty in respect of closing stock of Finished Goods lying at the factory as on 31.03.2009. Non provision of this liability will not affect the profitability of the Company.

5. Inventories include non-moving materials valued at Rs.4.43 lakhs as on 31.03.2009 (Rs.4:77 lakhs as on 31.03.2008).

6. Confirmation of balances in respect of Debtors/ Creditors/Loans & advances / unsecured loans have not been obtained.

7.(a) Sundry Creditors include Rs.0.94 Lakhs (Rs.1.51 Lakhs) due to Small Scale and ancillary undertaking.

8. Previous years figures have been regrouped / reclassified wherever necessary