a) The Term Loan from State Bank of India (MIDC Gokul Shirgaon Branch)
is secured by hypothecation of Plant & Machinery and Building situated
at G-1, MIDC Gokul Shirgaon, Kolhapur owned by the Company. The Term
Loan is jointly and severally Guaranteed by Mr. Ram Menon & Mr. Nitin
Menon. The Company had availed Rs. 5 Crores Term Loan, the repayment
started from October 2011.
b) The Term Loan from AXIS Bank Limited is secured by hypothecation of
Plant & Machinery and immovable property situated at C-1, Five Star
MIDC, Kagal, Kolhapur owned by the Company. The Term Loan is personally
Guaranteed by Mr. Nitin Menon. Loan taken from AXIS Bank Limited is
repayable with installment of Rs.19.71 Lakhs.
c) The Long Term Borrowing includes Car Loan taken by the Company from
the IDBI Bank Ltd, AXIS Bank Ltd and Maruti Udyog Ltd. & State Bank Of
d) The Unsecured Loan represents Interest Free Sales Tax Deferral Loan
from SICOM received under the Incentive Scheme of Government of
a) The Working Capital facilities from State Bank of India (MIDC Gokul
Shirgaon Branch) are secured by stock of raw materials, semi-finished
goods, finished goods and debtors collateral security of factory land &
building situated at G-1, MIDC, Gokul Shirgaon, Kolhapur-416234.
b) The Working Capital facilities from AXIS Bank Limited are secured by
hypothecation of current assets including stock & book debts of the
Company, both present and future.
a) Aggregate market value of quoted investments as on 31-03-2012 is Rs.
b) Aggregate amount of unquoted investments Rs. 4,00,000.00
Note No.1 Contingent Liabilities
a. Axis Bank Ltd. and State Bank of India have given guarantees on
behalf of the Company for Rs. 4.97 lacs and for Rs. 20.00 lacs
respectively. (previous year Rs. 0.50 lac and Rs. 2.015 lacs). Letter
of credit for Rs. 76.24 lacs from State Bank of India.(Previous year
Rs. 101.30 lacs)
b. Central Sales Tax and Bombay Sales Tax assessments are completed
upto 31.03.2005. The liability in respect of pending assessments /
appeals under BST/CST /VAT is unascertainable.
c. The Income Tax assessments are completed up to the Assessment Year
2009-2010. (relevant to accounting year ended 31.03.2009). Liability
if any, in respect of the pending assessments or appeals under the
Income Tax Act, 1961 is unascertainable.
a. Previous year figures are regrouped wherever necessary to conform
to current year figures.
b. Amounts are rounded off to the nearest lac or decimals thereof.
c. The Company has been accounting liability for Excise Duty on
Finished Goods as and when they are cleared. A liability in respect of
finished goods in stock at the close of the year estimated at Rs. 36.38
lacs and has not been provided in the accounts nor included in the
valuation of the inventory. However, the said liability, if accounted,
would have no impact on the profit for the year.