(a) Terms / Rights attached to Equity Shares.
i) The Company has only one class of Equity Shares having a par value
of Rs. 1/- per share. Each holder of Equity Share is entitled to one vote
ii) The Company declares and pays dividend in Indian Rupees. The
dividend proposed by the Board of Directors is subject to approval of
the Shareholders in the ensuring Annual General Meeting.
iii) During the year ended 31st March 2012, amount of Dividend
recognized as distributions to Equity Shareholders was Rs.
63,98,762/-(31st March, 2011 was Rs. 63,98,762/-).
iv) In the event of liquidation of the Company, the holders of Equity
shares will be entitled to receive remaining assets of the Company,
after distribution of all preferential amounts. The distribution will
be in proportion to the number of Equity shares held by the
Note 1 - Amounts due to Micro, Small and Medium Enterprises:
Under the Micro, Small and Medium Enterprises Development Act, 2006
certain disclosures are required to be made related to micro, small and
medium enterprise. The company does not have any transactions with such
Note 2-Previous year figures
The figures of the previous year have been re-arranged, re-grouped and
re- classified wherever necessary.
3. Contingent liabilities & Commitments:
Particulars 2011-12 2010-11
Claims against the Company / Disputed
Liabilities, not acknowledged as Debt 22,52,550 22,52,550
Bank Guarantee provided by Union Bank
of India on behalf of Company in favor
of Bombay Stock Exchange Limited in
lieu of Security Deposit to Bombay
Stock Nil 31,99,380
4. Profit / loss from F&O and Non Delivery transactions are accounted
for on net of brokerage paid.
5. Advances recoverable in cash or in kind or for value to be
received in respect of which company is fully secured includes:-
6. Balances of the Sundry Debtors, Loans and Advances and Sundry
Creditors are subject to confirmation and resultant reconciliation, if
7. There are no dues to Micro and Small Enterprises as at 31st March,
2012. This information as required to be disclosed under the Micro,
Small and Medium Enterprises Development Act, 2006 has been determined
to the extent such parties have been identified on the basis of
information available with the company.
8. In accordance with Accounting standard ''AS-18'' relating to Related
Party Disclosures, information pertinent to related party transaction
is given as under:-
Parties Where Control Exists: Nil
Parties with whom transaction have taken place.
A) The accounting policies adopted for segment reporting are in line
with the accounting policies used in the preparation of financial
B) Segment Assets includes all operating assets used by the segment and
consist primarily of debtors, inventories and fixed assets. Segment
liabilities include all operating liabilities and consist primarily of
deposits from customers, creditors and statutory liabilities.
9. Rights Issue and Utilization of Proceeds:
During the financial year 2010-11, Company had issued 15,99,69,040
Equity Shares of face value of Rs. 1/- at an issue price of Rs. 4/- per
Equity Share by way of Rights Issue making total subscribed, issued and
paid up equity share capital to Rs. 31,99,38,080 /- divided into
31,99,38,080 equity shares of Rs. 1/- each.
Utilization of Proceeds of Rights Issue:
The Company had utilized to the tune of Rs. 4413.72 lacs during the
fiscal 2011 and balance has been utilized in the fiscal 2012. The
statement of projected utilization of the Rights Issue proceeds as per
Letter of Offer dated 27th May 2010 against actual utilization as on
31st March, 2011 and as of 31st March 2012 is as follows:
10. The Previous year''s figures have been regrouped / rearranged /
reclassified wherever necessary. Amount and other disclosures for the
preceding financial year are included as an integral part of current
year''s financial statements.