a) Terms/ Rights Attached to Equity Shares:
The company has only one class of equity shares having par value of Rs.
10/-each holder of equity shares is entitled to one vote per share.
The compnay delcares and pays dividend in Indian Rupees.
In the event of liquidation of the company, the holders of the equity
shares will be entitled to receive remaining assets of the company,
after distribution of all preferential amounts. The distribution will
be in proportion to the number of equity shares held by the
1.1 Related parties disclosures:-
1. (a) Key Management Personnel : Shri Sandeep Kasera (b) Associate
Kuberkamal Ind. Invest. Ltd., Remi Securities Ltd., Rajendra Finance P.
Ltd., Remi Finance & Invest. P. Ltd. Bajrang Finance Ltd.
Note: Related party relationship is as identified by the Company and
relied upon by the Auditors.
Transactions carried out with related parties referred in above, in
ordinary course of business.
(Rs. in Lacs)
Nature of Transactions Referred in Referred in
1(a) above 1(b) above.
Interest paid - 2.41
Loans and Advances taken - 20.00
1.2 Contingent Liabilities not provided for :
i) Bank Guarantees given Rs. 10,76,891.00 (P.Y. Rs.6,53,525.00)
ii) Guarantees given to bank on behalf of third party Rs. Nil
( P.Y.Rs. 4,30,00,000/-) iii) Claim of third party towards rent not
acknowledged by Company
Rs. 30,07,038.00 ( P.Y. Rs. 30,07,038.00) iv) Sales Tax demand disputed
in appeal Rs. 59,47,031/- (P.Y. Nil)
1.3 Payment to Micro, Small & Medium Enterprises are made in
accordance with the agreed credit terms and to the extent ascertained
from available information, there was no amount overdue beyond the
period specified in Micro, Small and Medium Enterprises Development
1.4 Value of Imports calculated on CIF basis: Rs.33,10,544/- (P.Y. Rs.
1.5 Expenditure in foreign currency - Travelling expenses
Rs.4,11,747/- (P.Y. 1,09,557/-)
Payment of Imported Material Rs.33,10,544/- (P.Y. 79,46,861/-)
1.6. Disclosures in accordance with Revised AS – 15 on Employee
(A) Defined Contribution Plans: The Company has recognized the
following amounts in the Profit and Loss Account for the year.
For the year ended March 31, 2012
Contribution to Employees''
Provident Fund 995730
(iii) Amount recognized in the Balance Sheet including a reconciliation
Present Value of Defined Benefit Obligation and the Fair Value of
(vi) The Overall expected rate of return on assets is based on the
expectation of the Average long term rate of return expected on
investments of the Fund during the estimated term of the obligations.
(vii) The Actual Return on Plan assets is as follows
(a) Actual return on plan assets 648037.00
(viii) Following are the Principal Actuarial Assumptions used as at the
balance sheet date.
Gratuity Leave Encashment
(a) Rate of Interest. 8.75% 0.09%
(b) Salary growth 7.00% 7.00%
(c) Withdrawal late 1% 1%
(d) Mortality Rates LIC(1994-96) - LIC(1994-96) -
Ultimate Ultimate Mortality
Mortality Rate Rate
The estimates of future salary increases considered in actuarial
valuation takes into account inflation, seniority, promotion and other
1.7 Till the year ended 31st March, 2011, the Company was using
pre-revised Schedule VI to the Companies Act, 1956, for preparation and
presentation of its Financial Statements. During the year ended 31st
March 2012, the revised Schedule VI to the Companies Act, 1956 has
become applicable to the Company. The Company has reclassified previous
year figures to confirm to this year''s classification. The adoption of
this revised Schedule VI does not impact recognition and measurement
principles followed for preparation of Financial Statements.