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AksharChem (India)

BSE: 524598|NSE: AKSHARCHEM|ISIN: INE542B01011|SECTOR: Dyes & Pigments
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Mar 16
Notes to Accounts Year End : Mar '17

b. Terms / rights attached to Equity Shares

The Company has issued only one class of equity shares having a par value of Rs.10 each. Each holder of Equity Shares are entitled to one vote per share. The Company declares and pay dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders at the Annual General Meeting, except in case of interim dividend. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive the realized value of the assets of the Company, remaining after the payment of all preferential dues. The distribution will be in proportion to the number of equity shares held by the shareholders.

As per records of the company, including its register of members and other declarations received from them regarding beneficial interest, the above shareholding represent both legal and beneficial ownership of the shares.

e. 1. Aggregate number and class of shares allotted as fully paid up pursuant to contracts without payment being received in cash: NIL

2. Aggregate number and class of shares allotted as fully paid up by way of Bonus Shares : NIL

3. Aggregate number and class of shares bought back: NIL

Note I:

1. Term Loan is repayable by 4 quarterly equal installments of Rs. 25,09,641.

2. Corporate Loan is repayable by 4 quarterly installments of Rs. 50,00,000, 4 quarterly installments of Rs. 75,00,000, 2 quarterly installments of Rs. 1,00,00,000 and last 1 quarterly installment of Rs. 1,25,00,000.

b. Vehicle loans are secured by hypothecation of concerned vehicles.

Repayment terms of Vehicle Loan

Vehicle loans are repayable in equal monthly installment over the terms of loan ranging from 1 to 3 years.

There was no default in repayment of loan or interest.

(2) There are no Micro, Small & Medium Enterprises to whom the company over dues, which are outstanding for more than 45 days as at 31st March, 2017. This information is disclosed under the Micro, Small & Medium Enterprises Development Act, 2006 which has been determined to the extent such parties have been identified on the basis of the information available with the company.

*There is no amount due and outstanding to be transferred to the Investors Education and Protection Fund (IEPF) as on March 31, 2017, Unclaimed Dividend if any shall be transferred to IEPF as and when they become due.

4. SEGMENT REPORTING

The Company is principally engaged in a single segment of Dyes and Pigments.

5. RELATED PARTY DISCLOSURES

Related Party Disclosures as required by Accounting Standard 18 issued by Institute of Chartered Accountants of India are given below:

1. Related Parties and Nature of Relationship

a) The Enterprises in which Key Managerial Personnel (KMP) and their relatives have significant influence:

Asahi Songwon Colors Ltd.

Skyjet Aviation Pvt. Ltd.

Skyways

Asahi Energy Pvt. Ltd.

Asahi Powertech Pvt. Ltd.

Flyover Communication Pvt. Ltd.

Akshar Silica Pvt. Ltd.

Vapi Enviro Management System Private Limited

b) Key Managerial Personnel:

Mrs. Paru M. Jaykrishna Mr. Munjal M. Jaykrishna Mr. Meet Joshi

c) Relative of Key Managerial Personnel Mr. Mrugesh Jaykrishna

d) Subsidiary Company*

Akshar Pigments Pvt. Ltd

6. IMPAIRMENT OF ASSETS

No material impairment of Assets has been identified by the Company and as such no provision is required as per Accounting Standard 28 issued by The Institute of Chartered Accountants of India.

* For the purpose of this clause Specified Bank Notes: shall have the same meaning provided in the notification of the Government of the India, in the Ministry of Finance. Department of Economic Affairs number S.O. 3407{E}, dated the 8th November, 2016.

7. Previous year''s figures have been regrouped / reclassified, wherever necessary to make them comparable with the figures of the current year financial statements.

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