1. Related party disclosures as per Accounting Standard 18
Names of related parties and nature of related party relationships:
a) Key Management Personnel and their relatives:
Mr. H R Kilachand Chairman & Managing Director
Mrs. M H Kilachand Director
Relatives of Key Management Personnel Mr. Rohan H Kilachand Son
Ms. Rohita H Kilachand Daughter
b) Enterprises over which Key Management Personnel and their relatives
are able to exercise signifcant infuence: Kesar Terminals &
Kesar Multimodal Logistics Limited
Kesar Corporation Pvt. Ltd.
Kilachand Devchand & Co. Pvt. Ltd.
Indian Commercial Co. Pvt. Ltd.
India Carat Pvt. Ltd.
Kilachand Devchand Commercial Pvt. Ltd.
Duracell Investments & Finance Pvt. Ltd.
Seel Investments Pvt. Ltd.
Skyline Chem-Trade Pvt. Ltd.
Disclosure of transactions between the Company and related parties and
the status of outstanding balance as on 30th June, 2013 indicated in
bold. Previous year fgures indicated in the row there below:
2. Disclosure in respect of Operating Lease in accordance with AS 19
a) The total of future minimum lease payments under non-cancellable
operating leases for each of the following periods:
i) Not later than one year Rs. 58.83 Lac (P.Y. Rs. 47.94 Lac).
ii) Later than one year and not later than fve years Rs. 9.20 Lac (P.Y. Rs.
b) Lease payments recognised in the statement of proft and loss during
the year is Rs. 50.02 Lac (P.Y. Rs. 23.91 Lac).
3. The Company follows Accounting Standard 22 (AS 22) Accounting for
taxes on Income”, Deferred Tax Asset arising on account of Unabsorbed
depreciation and brought forward losses has been recognised during the
year only to the extent of Deferred Tax Liability. The management has
assessed the position and on the basis of reasonable/virtual certainty
of realising it in future, has recognised Deferred Tax Asset as on 30th
June 2013 amounting to Rs. 1,569.74 Lac (P.Y. Rs. 1,296.43 Lac) and carried
it as at the end of the year.
4. The previous year fgures have been regrouped and re-casted