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Kamdhenu

BSE: 532741|NSE: KAMDHENU|ISIN: INE390H01012|SECTOR: Steel - Medium & Small
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« Mar 13
Notes to Accounts Year End : Mar '15
1. Terms/rights attached to Equity Shares
 
 The Company has only one class of equity shares having a par value of
 Rs.10/- Per Share. Each holder of equity shares is entitled to one vote
 per share. The Company declares and pays dividends in Indian rupees.
 The dividend proposed by the Board of Directors is subject to the
 approval of the shareholders in the ensuing Annual General Meeting.
 
 During the year ended 31st March 2015, the amount of per share dividend
 recognised as distribution to equity shareholders is Re. 0.70 per
 equity share of Rs. 10 each (Previous year Rs. Nil per share).
 
 The repayment of Equity share capital in the event of Liquidation and
 buy back of Shares are possible subject to prevalent regulations. In
 the event of Liquidation, normally the equity shareholders are eligible
 to receive the remaining assets of the company after distribution of
 all preferential amount, in proportion of shareholding.
 
 The Company has not allotted any fully paid up shares pursuant to
 contract(s) without payment being received in cash. The Company has
 neither allotted any fully paid up shares by way of bonus shares nor
 has bought back any class of shares during the period of five years
 immediately preceding the balance sheet date.
 
 2. Nature of Security of Term Loan from Bank and Financial
 institution:
 
 # Term Loans from State Bank of Bikaner & Jaipur are secured by way of
 :
 
 (a) Pari passu charge by way of hypothecation of stocks, book debts &
 Other current assets of the company, present & future.
 
 (b) Pari passu charge over the movable and immovable assets including
 equitable mortgage of land & building at Plot No. A- 1112 & A-1114,RIA.
 Bhiwadi, Rajasthan & Plot no. E-538-539A RIA, Chopanki,Rajasthan &
 Personal guarantee of whole time directors.
 
 * Vehicle loans from Banks are secured by hypothecation of respective
 vehicles.
 
 ## Term Loans from RIICO are secured by way of First pari passu charge
 over the movable and immovable assets including equitable mortgage of
 land & building at Plot No. A-1112 & A-1114,RIA. Bhiwadi, Rajasthan and
 Personal guarantee of whole time directors.
 
 #Working Capital Loan from Banks are secured by way of:
 
 (a) Pari passu charge by way of hypothecation of stocks, book debts &
 Other current assets of the company, present & future.
 
 (b) Pari passu charge over the movable and immovable assets including
 equitable mortgage of land & building at Plot No.A-1112 & A-1114,RIA.
 Bhiwadi, Rajasthan & Plot no. E-538-539A RIA, Chopanki,Rajasthan &
 Personal guarantee of whole time directors.
 
 3. Contingent Liabilities and Commitments (to the extent not provided
 for) (Amount in Rs.)
 
 a. Contingent Liabilities
 
 Particulars                            Year ended         Year ended
                                     31st March, 2015    31st March, 2015
 
 (A)  Claims against the company not
      acknowledged as debt
 
 - Central Excise & Service Tax          166,233,152         46,618,128
 
 - Income Tax                              1,827,000          8,921,000
 
 - Sales Tax & Central Sales Tax          27,598,891         36,192,544
 
 (B)  Guarantees issued by Bank            4,300,000          4,520,000
 
                                          199,959,04         96,251,672
 
 b. Commitments
 
 Estimated amount of contracts
 remaining to be executed on capital
 account and not  provided for
 (Net of advance)                         3,128,134           1,989,593
 
                                          3,128,134           1,989,593
 
 TOTAL (a b)                            203,087,177          98,241,265
 
 4. Some of the balances of Trade Receivables, Trade Payables, advances
 and Security deposits as on 31.03.2015 are subject to confirmation. The
 company had initiated legal cases on some debtors for its recovery and
 the same have been included to the extent of Rs.1,07,87,259/- in
 outstanding for more than six months and Rs.2,15,09,264/- in other non
 current assets. The management of the company is hopeful of favourable
 decision on such legal cases, hence no provision for bad and doubtful
 debts have been considered. Other payables under other long term
 liabilities includes Rs.2,39,33,701/- of trade payables under
 litigation.
 
 5. In the opinion of the management, current & non current assets,
 loans & advances have a value on realisation in the ordinary course of
 business at least equal to the amount at which thay are stated in the
 Balance Sheet.
 
 6. Effective from 01.04.2014, the company has revised estimated useful
 life of its fixed assets as per the Schedule II of the Companies Act
 2013. Based on current estimates, after retaining the residual value,
 the carrying amount of the fixed assets of Rs.53,46,251 (net of
 deffered tax assets of Rs.28,29,445) on account of fixed assets whose
 useful life has already exhausted as on 1st April, 2014 have been
 adjusted to General Reserves. Had there not been any change in the
 useful of life of the fixed assets, net depreciation for the year ended
 31.03.2015 would have been lower by Rs. 55,32,096.
 
 7. The gross amount required to be spent by the company on CSR during
 the year worked out to be Rs.10,41,236 which is yet to be spent.
 
 8. Disclosure of related parties and transaction with them:
 
 Description of Relationship
 
 Nature of Relationship           Name of Related Party
 
 Key Management Personnel         Sh. Satish Kumar Agarwal, Chairman &
                                  Managing Director
 
                                  Sh. Sunil Kumar Agarwal, Whole Time
                                  Director
                                  Sh. Saurabh Agarwal, Whole Time
                                  Director
                                  Sh. Sachin Agarwal, Whole Time
                                  Director
                                  Sh. Harish Kumar Agarwal-Chief
                                  Financial Officer
                                  Sh. Jogeswar Mohanty-Company Secretary
 
 Related Company                  M/s Kamdhenu Overseas Ltd.
 
 9.  As per Accounting Standard-28  Impairment of Assets issued by
 ICAI, there are no indication of overall impairment in assets.
 
 10.  Previous year figures have been reclassified/ rearranged wherever
 necessary.
Source : Dion Global Solutions Limited
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