1.1 Car Finance Loan
Car Loan availed by the Company from ICICI Bank is secured against
motor car against which the finance is availed.
2.1 As per the information available with the Company, there are no
Micro and Medium Enterprises, as defined in the Micro small, Medium
Enterprise Development Act 2006 to whom the Company owes on account of
principal amount together with the interest and according no additional
disclosures have been made.
Note 3 : Additional Information to financial statements
1 Contingent Liabilities in respect of :
Guarantees given by Bankers Rs. 0.36 Lacs. (Previous Year Rs. 0.36
2 Auditors Remuneration :
Particulars Year Ended
30.06.2012 Year Ended
(a) Audit Fees 1,05,000 1,05,000
(b) Tax Audit Fees 20,000 20,000
Although the installed capacity has been indicated as above most of the
machines being common for different constructions and mesh sizes of
Nylon Fish Knitted Fabrics manufactured by the Company, the installed
capacity thus may vary from time to time.
The figures of installed capacity are as certified by a Director and
accepted by the Auditors.
4. In the opinion of the Board, current assets, loans and advances
have a value of at least equal to the amounts shown in the Balance
Sheet, if realized in the ordinary course of business. The provision
for all the known liabilities is adequate and not in excess of the
amount reasonably necessary. There are no contingent liabilities other
than those stated in Note No.22(1).
5. Reconciliation of Sundry Debtors has been completed in part and the
same has been reflected in the Accounts.
6. Garware Nylons Limited has gone into liquidation and Bombay High
Court has appointed Official Liquidator on 18th December, 1998. No
provision for diminution in the value of investment of 42,550 equity
shares and an amount of Rs 10,97,791/- recoverable from them is made in
7. The Company has certified that the Company does not have any
related party as per the requirement of accounting standard 18 on
Related Party Disclosure” issued by the Institute of Chartered
Accountants of India.
The Company''s operations mainly relate to manufacture of Nylon Fish
Knitted Fabrics and providing ship repair services. Accordingly,
revenues segmental information set out above.
Segmental Capital Employed
Fixed Assets and Liabilities pertain to fishnet division of the
Company. Accordingly, no disclosure relating to total segment assets
and liabilities have been made.
Note : Earnings per share is calculated by dividing the profit
attributable to the equity shareholders by the weighted average number
of equity shares outstanding during the Year.
8. The Revised Schedule VI has become effective from April 1, 2011
for the preparation of financial statement. This has significantly
impacted the disclosure and presentation made in the financial
statements. Previous year''s figures have accordingly been regrouped /
reclassified, to correspond with the current year''s classification /