Note No : 1.1
(e) The Company has only one class of equity shares having a par value
of Rs. 10 per share. Each holder of equity shares is entitled to one
vote per share. The holders of equity shares are entitled to receive
dividends as declared from time to time. In the event of liquidation of
the company the holders of 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 shareholders.
Note No : 2 Long-term borrowings
(a) Nature of securities:
Term loan from entities other than banks is secured by first charge on
the Company''s immovable properties situated at Jeypore (Assam) by
deposit of title deeds and also by hypothecation of all plant and
machinery and other fixed assets of the Company, both present & future,
and is additionally secured by personal guarantee of the Managing
Note No : 3.1 FIXED ASSETS
a)Land. Building and Plant & Machinery were revalued on 30th June 1985
as per valuation report of M/s. Consolidated Enterprises on the basis
of net replacement value and appreciation on revaluation aggregating to
Rs. 1,63,77.041/- was credited to Capital Reserve.
b) Intangible Assets
The unamortised amount of Computer Software (Acquired) Rs. 49.85.977/-
(Previous year Rs. 16,31.249/-) is to be amortised at the rate of 20%
per annum over a period of 3 - 5 years as the case may be.
As at AS at
Note No. : 3.2
1 Estimated amount of contract
remaining to be executed not provided
for 5,464,406 505.877
2. Contingent Liabilities not
provided for in respect of:
a) Uncalled Capital against partly
paid-up shares held as investment 8,000 8,000
b) Guarantees furnished by Company''s
Bankers on behalf of the Company 465,845 465,845
e) Demand raised by Govt. authorities
in respect of Taxes and Duties and
contested by the Company . 37,640,576 30.001,270
4. The Company has not received any memorandum (as required to be
filed by the suppliers with the notified authority under the Micro.
Small and Medium Enterprises Development Act. 2006) claiming their
status as on 31st March 2012 as micro or small or medium enterprises.
Consequently the amount due to micro and small enterprises as per
section 22 of the above said Act is Rs. Nil (Previous year Rs. Nil).
5. Segment information as per Accounting Standard - 17 on Segment
The Company has identified two business segments viz. Plywood and Tea.
Segments have been identified and reported taking into account the
nature of the products, the differing risks and returns, the
organisational structure & internal business reporting system.
a) Revenue and expenses have been identified to a segment on the basis
of relationship to operating activities of the segment. Revenue and
expenses which relate to enterprise as a whole and are not allocable to
a segment on reasonable basis have been disclosed as Unallocable.
b) Segment Assets and Segment Liabilities represent assets and
liabilities of respective segments. investments, tax related assets and
other assets and liabilities that can not be allocated to a segment on
reasonable basis have been disclosed as Unallocable.
a) There are no transactions between segments. Common costs are
apportioned on a reasonable basis.
b) Since the company''s activities/operations are primarily within the
country, there is only one geographical segment.
c) Figures in the brackets pertain to previous year.
6. Related Party Disclosures
a) Figures in the brackets pertain to previous year.
b) The Company has neither written off nor written back any amount
recoverable/payable from/to any related party during the year.
c) The amount due from related parties are good and hence no provision
for doubtful debts in respect of dues from such related parties is
Names of related parties & description of relationship
Associates : Abhinandan Fintex Pvt Ltd.
Calcutta Technician & Advisers Ltd.
Madhya Unarm Papers Ltd.
P S Plywood Products Pvt. Ltd.
Purma Timber Products Ltd.
Personnel : Shri Sudeep Chitlangia
Shri Sohan Lal Yadav
7. Disclosure under clause 32 of the Listing Agreement:
There are no transactions (except related party transactions) which are
required to be disclosed under Clause 32 of the Listing Agreement with
the Stock Exchanges where the Equity Shares of the Company are listed.
8. Disclosure pursuant to AS-29 on Provision, Contingent Liabilities
and Contingent Assets :
a) No provisions for Liabilities was made during the year and no
provision was outstanding at the beginning and at the end of the year.
b) The Contingent liabilities mentioned at SI No. 1 are dependent upon
Court decision/out of court settlement/disposal of appeals etc.
9. Disclosure pursuant to AS - 15 (revised 2005) on Employee
Defined Benefit Plan:
Post employment and other long-term employee benefits in the form of
gratuity, sick leave and earned leave encashment are considered as
defibenefit obligation. The Present value of obligation is determined
based on actuarial valuation using projected unit credit method as at
the Balance Sheet dale. The amount of defined benefits recognized in
the balance sheet represent the present value of the obligation as
adjusted for unrecognized past service cost, and as reduced by the fair
value of plan assets.
VIII. Basis used to determine the Expected Rate of Return on Plan
The expected rate of return on plan assets is determined considering
several applicable factors, mainly the composition of plan assets held,
assessed risks, historical results of return on plan assets and the
IX Basis of estimates of rate of escalation in salary
The estimates of rate of escalation in salary considered in actuarial
valuation, take into account inflation. seniority, promotion and other
relevant factors including supply and demand in the employment market.
The above information is certified by the actuary.
10. Previous year''s figure have been rearranged/regrouped wherever
necessary to conform to current year''s presentation as required by the
Revised Schedule VI to the Companies Act, 1956.