I. Guarantees given by bank on behalf of the Company for Rs.
1251472.00 (Previous Year Rs. 1251472.00). Out of the above, Rs.
1241472.00 is with State Bank of India. The account of the Company
with State Bank of India has already turned NPA; hence the margin money
on these BGs is not realizable.
1. Estimated amount of contract executed on capital account and
pending allocation for Rs. 318546.00 (Previous Year Rs. 318546.00).
2. (I) Managerial remuneration to Directors is Rs. 363197/-.
(II) Auditors remuneration is inclusive of service tax.
** Installed capacity is as certified by Management but not verified by
3. Value of Imports calculated on C.I.F. basis.
Raw material Rs. NIL Lacks. (Previous Year Rs. NIL)
4. The closing stock is accepted as taken, valued and certified by the
5. Expenses pertaining to previous year Rs. NIL.
6. During the year cheque issued for Rs. 2102.00 and Cheque Deposited
for Rs NIL were not presented / cleared on the last date.
7. The Provident Fund outstanding is calculated at Rs. 124284.79
8. The depreciation for the current year amounting to Rs. 6461610.00
has not been provided. The depreciation has not been provided since
9. The Company''s reference has been registered by the Board for
Industrial and Financial Reconstruction at case number 30 / 2002 on
The Tribunal vide reference No. 25 / 2001 dated 04.10.2001 awarded
interest payable @6% p.a. for pendent late and future which has been
revised tol0%p.a. vide reference No. 69 / 2001 dated 12.09.2002. The
company has not provided liability in respect of interest on these
debts aggregating to Rs. 6146390 (Previous year Rs. 6146390). The
aggregate amount of interest payable for 2001-2002 to 2011-2012 is
Rs.678.02 Lacs (Previous year Rs.616.56 Lacs) .
10. The Company has not provided liability in respect of interest on
its debt payable to State Bank of India.
11. The unsecured loans & advances listed on the register maintained
under section 301 of the Companies Act, 1956 amounts to Rs. 6679338.62
(Previous Year Rs 6662002.62).
12. Loans and advances including amount due from directors, their
relatives and Companies under the same management is Rs. 6969517.52
(Previous year Rs. 6962985.62). Maximum balance during the year Rs
7085958.52 (Previous year Rs. 6975032.52).
13. The balances under Sundry Debtors, Loans and Advances and
Creditors are subject to confirmation.
14. Accounting of raw material consumption is exclusive of modvat
credit utilized during the year. Claims & refunds, if any, shall be
accounted for in the year of determination.
15. Sundry Creditors include Rs. 0.00 lacs (Previous year Rs. 0.00
lacs ) due to small scale industrial undertakings to the extent such
parties have been identified from available information and Rs. 29.44
lacs ( Previous year Rs. 40.91 lacs ) due to the creditors other than
small scale industrial undertakings. Based on the information available
with the Company, there is no small scale industrial undertaking where
outstanding exceeds Rs. 1 lac for more than 30 days.
16. Company is manufacturing only butyl tubes and as such there are no
primary and secondary segments as per the requirement of AS - 17 issued
by the Institute of Chartered Accountants of India on Segment
17. In view of uncertainty to have taxable profits in near future,
Deferred Tax Assets in accordance with AS - 22 issued by the Institute
of Chartered Accountants of India on Accounting for Taxes on
Income has not been recognized.
18. Though the accumulated losses of the Company as on 31.03.2012 are
in excess of the paid up Capital and Reserves and Surplus, the Company
do not have intention to suspend operational activities. Therefore,
accounts are prepared on going concern basis.
19. Previous year figures have been re-grouped, rearranged and / or
recanted wherever necessary so as to make them comparable with those of
the current year. Figures are shown in nearest of Rupees. Figures in
brackets relates to previous year.
We have examined the above cash flow statement of Kandhari Rubbers
Ltd., for the year ended 31.03.2012 The statement has been prepared by
the Company in accordance with clause 32 of listing agreement with
stock exchanges & is based on & in agreement with Balance Sheet &
Profit & Loss Account of the Company concerned by our Report of
25.07.12 to the members of the Company
Note : Figures in brackets represent out flows.