Pitambar Coated Papers Ltd. के अकाउंट के लिये नोट

Mar 31, 2014

Current Year Previous Year 31.03.2014 31.03.2013

1. Contingent Liabilities

Rajasthan Sales Tax 2006-07 26,339.00 26,339.00

Central Sales Tax 2006-07 — —

Rajasthan Sales Tax 2007-08 576,820.00 576,820.00

Central Sales Tax 2007-08 150,256.00 150,256.00

Rajasthan Sales Tax 2008-09 895,301.00 895,301.00

Central Sales Tax 2008-09 480.00 480.00

Rajasthan Sales Tax 2009-10 501,517.00 501,517.00

Central Sales Tax 2009-10 234,959.00 255,436.00

RIICO 2,205,426.00 2,205,426.00

The company has got the PF demand raised by the department set aside and the same has been withdrawn by the department and the department has agreed to adjust the advance PF amount of Rs. 8.0 Lacks adjusted against future employer PF contribution.

2. Auditor''s Remuneration

(a) Audit Fee 20,000.00 25,000.00

(b) Tax Audit Fees 5000.00 10,000.00

(c) Other Matters 1500.00 5,000.00

(d) Service Tax 3275.00 4,944.00

3. During the Year the Company has accounted for the gratuity and leave encashment benefits on estimate basis instead of actuarial valuation basis. However, the impact of the same on current year''s profit is not ascertainable.

4. Names of Small Scale Industrial Undertaking to whom the company owe a sum outstanding for more than 30 days as at March 31,2014 as are under:

b) Auchtel Products Ltd. b) Rukhmani Chemicals Works

The above information has been compiled in respect of parties to the extent to which they could be identified as small scale,and ancillary undertakings on the basis of information available with the company.

5. In the context of Accounting Standard-17 "Segmental Reporting" issued by the Institute of Chartered Accountants of India, no reportable segment is formed since the company is largely engaged in paper segment. Hence segment wise information need not to be given.

6. In view of carry forward and unabsorbed depreciation, no provision of current income tax is made.

7. Deferred Tax Assets is to be created on timing difference subject to the consideration of prudence, that there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized, keeping this in view no deferred tax assets has been provided for in the current year.

8. Earnings per Share

The numerators and denominators used to calculate earnings per share

9. In the opinion of the management, the current assets, loans and advances are having the value at which they are stated in the Balance Sheet, if realized in the ordinary course of business.

10. Wherever confirmations have not been received from the parties, the book balance have been considered.

11. An amount of Rs. 56,213,113/- on account of interest on secured loan from Sumit Apparels Ltd. has not been provided in the Books of Accounts. Interest on Secured loanRs.95,77,928.00 Rs. 92,22,162, Rs. 98,05,327, Rs. 90,50,354, Rs. 31,47,949, Rs. 70,43,278, and Rs. 83,66,120 for the financial year, 2013-14,2012-13, 2011-2012, 2010-11,2009-10, 2008-2009, and 2007-08 respectively.

12. Rates & Taxes include an amount of Rs. 6,63685/- and Rs. 2,80,969/- towards Central Sales Tax and Rajasthan Sales Tax on account of demand raised by the respective departments relating to years 2001-02 to 2005-06 for shortfall in deposit of sales tax and interest thereon. However the company has made necessary representation as per BIFR order to the respective authorities for waiver.

13. Out of Unsecured loan of Rs.266.67 lac from promoters/ Associates/ group concern the sum of Rs. 157.61 Lac has been converted into Share Application money for Allotment of Shares as per the BIFR order dt. 13/08/2009.

14. Other income include income in respect of suppliers/customers balances including loan written back-Nil (previous year Rs. 19,00,834)

15. In pursuance of BIFR Order dated 13.08.2009, Equity share Capital of the Company has been reduced by 90% from Rs. 8,02,67,300 divided into 8026730 Equity Share of Rs.10/- each to Rs. 80,26,730 divided into 802673 Equity Shares of Rs. 10/- each fully paid up.

16. Statement on Related Party disclosure as required by AS-18 issued by the Institute of Chartered Accountants of India is enclosed.

17. During the year due to higher input cost and lower sales realization, the company incurred a loss of Rs. 1,63,74,955/- which includes the loss on sale of machinery amounting to Rs.4222237.00 carried over.

18. The figures of previous year have been regrouped/rearranged as required under revised Schedule vi to the Companies Act, 1956, wherever necessary to confirm current year classification.

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Mar 31, 2013

Current Year Previous Year 31.03.2013 31.03.2012

1. Contigent Liabilities

Rajasthan Sales Tax 2006-07 26,339.00 26,339.00

Central Sales Tax 2006-07

Rajasthan Sales Tax 2007-08 576,820.00 576,820.00

Central Sales Tax 2007-08 150,256.00 150,256.00

Rajasthan Sales Tax 2008-09 895,301.00 895,301.00

Central Sales Tax 2008-09 480.00 480.00

Rajasthan Sales Tax 2009-10 501,517.00 501,517.00

Central Sales Tax 2009-10 234,959.00 255,436.00

RIICO 2,205,426.00 2,205,426.00

The company has got the PF demand raised by the department set aside and the same has been withdrawn by the department and the department has agred to adjust the advance PF amount of Rs. 8.0 Lacks adjusted against future employer PF contribution.

2. During the Year the Company has accounted for the gratutity and leave encashment benefits on estimate basis instead of acturial valuation basis. However, the impact of the same on current year''s profit is not ascertainable.

3. Names of Small Scale Industrial Undertaking to whom the company owe a sum outstanding for more than 30 days as at March 31,2013 as are under:

b) Auchtel Products Ltd.

b) Rukhmani Chemicals Works

The above information has been compiled in respect of parties to the extent to which they could be identified as small scale and ancillary undertakings on the basis of information available with the company.

4. In the context of Accounting Standard-17 "Segmental Reporting" issued by the Institute of Chartered Accountants of India, no reportable segment is formed since the company is largely engaged in paper segment. Hence segmentwise information need not to be given.

5. In view of carry forward and unabsorbed depreciation, no provision of current income tax is made.

6. Deferred Tax Assets is to be created on timing difference subject to the consideration of prudence, that there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised, keeping this in view no deferred tax assets has been provided for in the current year.

7. Earning per Share

The numerators and denominators used to calculate earnings per share

8. In the opinion of the management, the current assets, loans and advances are having the value at which they are stated in the Balance Sheet, if realized in the ordinary course of business.

9. Wherever confirmations have not been received from the parties, the book balance have been considered.

10. An amount of Rs. 4,66,35,190/- on account of interest on secured loan from Sumit Apparels Ltd. has not been provided in the Books of Accounts. Interest on Secured loan Rs. 92,22,162, Rs. 98,05,327, Rs. 90,50,354, Rs. 31,47,949, Rs. 70,43,278, and Rs. 83,66,120 for the financial year, 2012-13, 2011- 2012, 2010-11, 2009-10, 2008-2009, and 2007-08 respectively.

11. Rates & Taxes include an amount of Rs. 6,63685/- and Rs. 2,80,969/- towards Central Sales Tax and Rajasthan Sales Tax on account of demand raised by the respective departments relating to years 2001-02 to 2005-06 for shortfall in deposit of sales tax and interest thereon. However the company has made necessary representation as per BIFR order to the respective authorities for waiver.

12. Out of Unsecured loan of Rs.266.67 lac from promoters/Associates/ group concern the sum of Rs. 157.61 Lac has been converted into Share Application money for Allotment of Shares as per the BIFR order dt. 13/08/2009.

13. Other income include income in respect of suppliers/customers balances written back Rs. 19,00,834, including loans of Rs. 10,50,680/- (previous year 22,33,026).

14. In pursuance of BIFR Order dated 13.08.2009, Equity share Capital of the Company has been reduced by 90% from Rs. 8,02,67,300 divided into 8026730 Equity Share of Rs.10/- each to Rs. 80,26,730 divided into 802673 Equity Shares of Rs. 10/- each fully paid up.

15. Statement on Related Party disclosure as required by AS-18 issued by the Institute of Chartered Accountants of India is enclosed.

16. During the year due to higher input cost and lower sales realisation, the company incurred a loss of Rs. 1,10,81,543/- which is carriedover.

17. The figures of previous year have been regrouped/rearranged as required under revised Schedule vi to the Companies Act, 1956, wherever necessary to confirm current year classification.

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Mar 31, 2012

Current Previous Year Year 31.3.2012 31.3.2011

1) Contingent Liabilities

Rajasthan Sales Tax

2006-07 26' 339.00 54' 683.00

Central Sales Tax

200607 - 219' 368.00

Rajasthan Sales Tax

200708 576' 820.00 576' 820.00

Central Sales Tax

2007-08 150' 256.00 178' 379.00

Rajasthan Sales Tax

200809 895' 301.00 895' 301.00

Central Sales Tax

200809 480.00 480.00

Rajasthan Sales Tax

2009-10 501' 517.00

Central Sales Tax

2009-10 255' 436.00

RIICO 2' 205' 426.00 1' 292' 039.00

The company has got the PF demand raised by the department set aside and the same has been withdrawn by the department and the department has agreed to adjust the advance PF amount of Rs. 8.0 Lacs to be adjusted against future employer PF contribution.

2) During the Year the Company has accounted for the gratuity and leave encashment benefits on estimate basis instead of acturial valuation basis. However the impact of the same on current year's profit is not ascertainable.

3) Names of Small Scale Industrial Undertaking to whom the company owe a sum outstanding for more than 30 days as at March 31' 2012 as are under:-

a) Auchtel Products Ltd.

b) Rukhmani Chemicals works

The above information has been compiled in respect of parties to the extent to which they could be identified as small scale and ancillary undertakings on the basis of information available with the company.

4) In the context of Accounting Standard-17 "Segmental Reporting" issued by the Institute of Chartered Accountants of India' no reportable segment is formed since the company is largely engaged in paper segment. Hence segment wise information need not to be given.

5) In view of carry forward & unabsorbed depreciation' no provision of current income tax is made.

6) Deferred Tax Assets is to be created on timing difference subject to the consideration of prudence' that there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised' keeping this in view no deferred tax assets has been provided for in the current year.

7) In the opinion of the management' the current assets' loans & advances are having the value at which they are stated in the Balance Sheet' if realized in the ordinary course of business.

8) Wherever confirmations have not been received from the parties' the book balance have been considered.

9) An amount of Rs. 3' 74' 13' 028/- on account of interest on secured loan from Sumit Apparels Ltd.has not been provided in the Books of Accounts. Interest on secured loan -Rs. 98' 05' 327/-Rs. 90' 50' 354/-' Rs. 31' 47' 949/-' Rs. 70' 43' 278/-' Rs. 83' 66' 120/- for' financial year 2011-12' 2010-11' 2009-10' 2008-09' and 2007-08 respectively.

10) Rates & Taxes include an amount of Rs. 6' 63685/- and Rs. 2' 80' 969/- towards Central Sales Tax and Rajasthan Sales Tax on account of demand raised by the respective departments relating to years 2001-02 to 2005-06 for shortfall in deposit of sales tax and interest thereon. However the company has made necessary representation as per BIFR order to the respective authorities for waiver.

11) Other income include income in respect of suppliers/customers balances including PF damages written back - Rs. 2233026.39 (RY. Rs. 3312818.90)

12) In pursuance of BIFR Order dated 13.08.2009' Equity share Capital of the Company has been reduced by 90% from Rs. 8' 02' 67' 300 divided into 8026730 Equity Share of Rs.10/- each to Rs.8026730 divided into 802673 Equity Shares of Rs. 10/- each fully paid up.

13) During the year due to higher input cost and lower sales realisation ' the company incurred a loss of Rs.1' 15' 65' 242.45/-' which is carriedover.

14) Statement on Related Party disclosure as required by AS-18 issued by the Institute of Chartered Accountants of India is enclosed.

15) The figures of previous year have been regrouped/reclassified as required under revisedschedulevi to the companies Act' 1956. wherever necessary to confirm current year classification.

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Mar 31, 2010

31.03.2010 31.03.2009

1) Contingent Liabilities

Rajasthan Sales Tax 2006-07 712,153.00 --

Central Sales Tax 2006-07 384,267.00 --

Rajasthan Sales Tax 2007-08 1,514,500.00 --

Central Sales Tax 2007-08 753,978.00 --

RIICO 1,292,039.00 --

PF Demand 2004-05 to 2005-06* 1,594,266.00 --

* Besides this company has also received a demand towards payment PF for earlier years amounting to Rs. 38,63,358/- and has already deposited Rs. 22,69,092/- the same and has obtained a stay order by depositing 50% liability i.e. Rs.800000/- against payment of balance amount.

2) During the period the Company has accounted for the gratuity and leave encashment benefits on estimate basis instead of acturial valuation basis. However the impact of the same on current year profit is not ascertainable.

3) Names of Small Scale Industrial Undertaking to whom the company owe a sum outstanding for more than 30 days as at March 31, 2010 as are under:—

a) Alpha Minerals & Chemicals

b) Auchtel Products Ltd.

c) Chem Expo India (P) Ltd.

d) Harish Aero Polymer (P) Ltd.

e) Rukhmani Chemicals works

The above information ha« been compiled in respect of parties to the extent to which they could be identified as small scale and ancillary undertakings on the basis of information available with the company.

4) In the context of Accounting Standard-17 "Segmental Reporting" issued by the Institute of Chartered Accountants of India, no reportable segment is formed since the company is largely engaged in paper segment .Hence segment wise information need not to be given.

5) In view of carry forward & unabsorbed depreciation, no provision of current income tax is made.

6) Deferred Tax Assets is to be created on timing difference subject to the consideration of prudence, that there is a reasonable certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised, keeping this in view no deferred tax assets has been provided for in the current year.

7) Related Party Disclosure as required by AS-18 issued by the institute of Chartered Accountant of India. Name of Related Parties

a) Associate/Sister Companies/Concerns Nature of Relationship

i) Kamlax Industries Ltd. Associated Company

ii) Kamlax Polytex Pvt. Ltd. Associated Company

iii) Regent Exim International Ltd. Associated Company

iv) Sumit Apparels Ltd. Holding company

v) Shyam Sunder Textiles Associated Concern

vi) Cobondrite Business Pvt. Ltd. Associated Concern

b) Key Managerial Personnel

i) Shri Subhash Gupta Managing Director

ii) Shri Sunil Gupta Director

iii) Shri Satish Gupta Director

iv) Shri Anshu Gupta Director

c) Related Key Personnel

i) Mrs. Lali Gupta Relative of Key Managerial Personnel

ii) Subhash Gupta & Sons (HUF) Relative of Key Managerial Personnel

8) In the opinion of the management, the current assets, loan & advances are having the value at which they are stated in the Balance Sheet, if realize in the ordinary course of business.

9) Wherever confirmations have not been received from the parties, the book balance have been considered.

10) An amount of Rs. 18557347 on account of interest on secured loan from Sumit Apparels Ltd. has not been provided in the Books of Accounts. Interest on Secured loan Rs.3147949, Rs.7043278 and Rs.8366120 financial year 2009-10, 2008-09 and 2007-08 respectively.

11) Rates & Taxes include an amount of Rs. 39,33,051/- and Rs. 3,54,396/- towards Central Sales Tax and Rajasthan Sales Tax on account of demand raised by the respective departments relating to years 2001-02 to 2005-06 for shortfall in deposit of sales tax and interest thereon. According to BIFR order amount reduced by Rs.3269366, Rs.73427 CST and Rajasthan Sales Tax respectively.

12) Interest includes an amount of Rs. 4,79,323/- towards interest on provident fund on account of demand raised by the concerned department relating to earlier periods has been paid and difference of Rs.17028/- as new demand raised by PF department on a/c of Interest on Provident Fund. The Company filed application for waiver of Damages of PF for Rs. 23,03,892/- to the concerned Authorities as per BIFR order dt. 13/08/2009 and order for waiver still awaited and the effect of same amount has not been considered in books of accounts.

13) Out of Unsecured loan of Rs.266.67 lac from promoters/ Associates/ group concern the sum of Rs. 15761000 has been coverted into Share Application money for allotment of shares as per the BIFR order dt. 13/08/2009.

14) Other income include income in respect of suppliers/customers balances written back Rs. 15736962.

15) In pursuance of BIFR Order dated 13.08.2009, Equity share Capital of the Company has been reduced by 90% + from Rs. 80267300 divided into 8026730 Equity Share of Rs.10/- each to Rs. 8026730 divided into 802673 Equity Shares of Rs.10/- each fully paid up. Further out of the unsecured loan balance an amount of Rs. 5592387, Statutory dues CST Rs. 3209366, 72240570 RST Rs. 73427, Stock Exchange pending /dues Rs 125750, unsecured creditor Rs. 970942 have been written off, Reduction in Share capital Rs. 72240570.

The amount of reduction in Equity Share capital Rs. 72240570 and aforesaid unsecured loan, Statutory dues, Stock Delisting fees and unsecured Creditor have been set off/ adjusted against the accumulated losses of the company during the year. Consequently opening debit balance of Profit & loss Account representing accumulated losses of Rs. 82189717 stands reduced to NIL.

16) The figures of previous year have been regrouped/rearranged whichever considered necessary.