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Standard Chrome
BSE: 513593|ISIN: INE715E01017|SECTOR: Steel - Medium / Small
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Standard Chrome is not traded in the last 30 days
Standard Chrome is not listed on NSE
Notes to Accounts Year End : Mar '99
1. Contingent Liabilities not provided for :
 
 i) Power Bills raised by Madhya Pradesh State Electricity Board under
 dispute RS. 3,47,O2,O81 (1998 : Rs. 3,47,02,081)
 
 ii) Guarantees given by bank on behalf of the Company Rs. 1,00,000
 (1998 : 1,00,0000)
 
 2. Estimated amount of capital commitments (net of advances)
 outstanding as on 31st March, 1999 and not provided for Rs. 7,03,000
 (1998 : Rs. 7,03,000).
 
 3. No provision has been made in this accounts for year end liability
 for leave encashment benefit determined by the Company at Rs. 29,056
 (1998 : Rs. 45,347) which is being accounted for in the year of payment
 as per normal practice of the Company.
 
 4. No provision has been made for doubtful debts and loans and advances
 amounting to Rs. 24,10,093 (1998 : Rs. 21,92,417) and Rs. 4,83,840
 (1998 : Rs. 4,83,840) respectively as it is not warranted at this
 stage.
 
 5. No provision has been made for Excise Duty amounting to Rs. 1,14,000
 approximately (1998 : Rs.  4,72,000) on stock lying at the Company's
 factory, as this will be paid on clearance, such accounting treatment
 being revenue neutral.
 
 6. Sundry Creditors include credit balance Rs. 174.25 Lacs (1998 : Rs.
 174.25 lacs) with a supplier which is under reconciliation and/or under
 dispute.
 
 7. These accounts do not include Rs. 6,64,170 (1998 : Rs. 6,64,170)
 being total amount lying with a Bank for warrants issued for refund to
 non-allottees but not presented.
 
 8. Future rental obligations in respect of assets taken on lease Rs.
 14,58,356 (1998 : Rs. 60,13,266)
 
 9. Previous Year's figures have been regrouped wherever necessary to
 confirm to current year's classification.
 
 10. Statement pursuant to part IV of Schedule VI to the Companies Act,
 1956.
 
 11. Secured Loans:
 
 The Rupee Term Loans from Financial Institutions are secured by way of joint mortgage created by deposit of
the title deeds in respect of land together with all buildings and structure thereon, all fixed plant and
machinery and charge on the whole of moveable properties (save and except book debts), both present an
future, subject to prior charge on stocks in favour of the Company's Banker.
 
 The Cash Credit facilities from a Bank are secured a First Charge by
 way of hypothecation on stocks and book debts, both present and future
 of the Company and also guaranteed by two Directors of the Company.
Source : Dion Global Solutions Limited
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