Rupee Term Loans from non banking financial institution is
(a) Secured by first charge on hypothetication of three cars owned by
(b) Repayable monthly instalment of Rs.22242 (agreement no.CF4789851)
Rs. 17910 (agreement no.6882438) & Rs.25740 (agreement no.CF 6926179)
are given against car loan.
1. CC Limits & FCNRB loan from bank are secured by hypothecation of
fixed assets and current assets equitable mortgage of immovable
properties owned by the company and further secured by personal
guarantee by the directors of the company.
As at As at
Rs. Rs. Rs. Rs
NOTE-1 : CONTINGENT LIABILITIES & COMMITMENTS:
Contingent Liabilities :
Claims against the Company not
acknowledged as debts Other
In respect of disputed Excise duty
demand (in lacs) 4.15 6.49
In respect of disputed Service Tax
demand (in lacs) 5.81 5.37
In respect of disputed Sales\trade Tax
demand (in lacs) 35.19 40.57
In respect of disputed Entry Tax demand
(in lacs) 8.24 13.36
Estimated amount of contracts remaining
to be executed on Capital Account not
provided for -
Uncalled liabilities on shares and other
investments partly paid -
NOTE-2 : RELATED PARTY DISCLOSURE:
Name of the related parties with whom transactions were carried out
during the year and description of relationship :
I) Key Management Personnel & their relatives :
(i) Mr. Pawan Kumar Garg. Chairman & Managing Director
(ii) Mr. Atul Kumar Garg, Whole Time Director
(iii) Mr. Rakesh Kumar Garg
(iv) Mr. Ankur Garg, Director
(v) Mr. Aditya Garg, Son of Director
(vi) Mr. Kunal Garg
II) Shareholder having significant influence over the enterprises :
(i) M/s Standard Sulphonators (P) Ltd.
(ii) M/s Industrial Enterprises, Kanpur
(iii) M/s Kashi Prasad Roop Kishore
(iv) M/s Standard Ventures Ltd.
(v) M/s Sudhir Kumar Gautam Kumar
(vi) M/s Standard Ganpati Merchandise (P) Ltd.
(vii) Navsheel Standard Constructions Pvt. Ltd.
3. Some of the Suppliers, Debtors. Advances and Unsecured Loans
accounts are subject to Confirmation/Reconciliation, settlement of
claims and encashment/realization of cheques in Hand/issued.
4. In the view of Management
(i) No provision is required to be made for any impairment loss as in
the opinion of the management the recoverable amount of the assets of
the each unit is much more than the value stated in the accounts.
(ii) Credit balances, not payable, hence written back in the books of
(iii) The realizable value of all current assets, in the normal course
of business, is not less than the value stated in the balance sheet.
5. During the year gratuity has been provided on adhoc basis in
absence of actuarial valuation.
6. DISCLOSURE REQUIRED BY MICRO, SMALLAND MEDIUM ENTERPRISES
(DEVELOPMENT) ACT, 2006
In the absence of necessary information in relation to the suppliers
registered as Micro or Small enterprises under the Micro, Small and
Medium Enterprises (Development) Act. 2006. the company has not been
able to identify such suppliers and the information Required under the
said Act could not be complied and disclosed.
7. Segment Reporting :
(A) Segment Identification
Business segments have been identified on the basis of the nature of
(B) Segment Composition
Chemicals and Surfaces Active Segment is engaged in the Manufacture and
sale of specialty Chemicals in detergent, Personal care and pesticides
industry. Synthetic Detergent - engaged in manufacturing of Synthetic
Detergent Others - engaged in trading and other activities.
8. The detergent plants at Rania & Mandideep (Bhopal) are not in
operation, during the year & there are no immediate plans to operate
the same. In view thereof, no depreciation is provided in respect of
the two units. Amount is not ascertained.
9. The Previous year''s figures have been reworked or regrouped and
reclassified wherever necessary.
10. Notes- ''1 to 24'' Form an integral part of accounts.