Mercator Lines
BSE: 526235 | NSE: MLL | ISIN: INE934B01028 | Shipping
- Directors Report
- Chairman's Speech
- Auditors Report
- Notes To Accounts
- Accounting Policy
- Finished Products
- Raw Materials
| Notes to Accounts | Year End : Mar '08 |
1. Contingent Liabilities not provided for
Amount Rs in Lacs
Name Current Year Previous Year
Counter guarantees issued by 1,456.54 885.00
the Company for guarantees
obtained from the bank
Counter guarantees issued by 458.89 604.99
the company for guarantees
obtained from the bank on
behalf of subsidiaries
Corporate guarantees issued 29,962.17 6,725.83
by the company on behalf of
wholly owned subsidiaries
Corporate guarantees issued 19,400.00 13,359.50
by the company on behalf
of business associates
Letter of comforts issued by 45,123.75 5,500.00
the company on behalf of
wholly owned / fellow
subsidiaries
TOTAL 96,401.35 27,075.32
2. Estimated amount of contracts remaining to be executed on capital
accounts and not provided for (net of advances) as at March 31, 2008
Rs. 14,928.51 Lacs (Rs. NIL).
3. The Company has made preferential issue of equity shares, and
warrants aggregating to Rs. 5,627.25 Lacs (including premium) (Rs. Nil)
The said funds have been utilized for Working Capital requirements.
4. The company has raised Foreign Currency Loans aggregating to Nil
(Rs. 20,108 Lacs). The same has been utilized for acquisition of
vessels.
5. The Company has established Letters of Credit aggregating to Rs.
7,580.79 Lacs (Nil). The same has been utilized for acquisition of
vessel.
6. The company has not received any intimation from its vendors
regarding the status under the Micro, Small and Medium Enterprises
Development Act 2006 and hence disclosures required under this act have
not been made.
7. The balance in the Exchange Earners Foreign Currency account is
maintained in US Dollars and shown in equivalent Indian Rupees. The
balance in the said account as at the Balance Sheet date was USD 0.217
Lacs (Previous Year USD 3.72 Lacs)
8. The Company did not have full-time company secretary for the period
29th January2008 till date as required under section 383A of the
Companies Act, 1956. Company is in the process of appointing company
secretary. |
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| Source : Religare Technova | |
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