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CHD Chemicals

BSE: 539800|ISIN: INE043U01010|SECTOR: Trading
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Notes to Accounts Year End : Mar '18

1. NATURE OF OPERATION:-

CHD CHEMICALS LTD (herein after referred to as ‘The Company’ is a doing trading of CHEMICALS.

2. NOTES ON ACCOUNT OF THE YEAR ENDED 31 March, 2018

The previous period figures have been regrouped and reclassified, wherever necessary to conform to the current presentation.

* The Company has only one class of equity shares, fully paid, having a par value of Rs. 10/- each. Each holder of equity shares is entitled to one vote per share.

During the Current year 2017-18 the company has issued 2402000 equity shares of face value of Rs 10/- at par by conversion of 2402000 warrants.

3. Contingent Liabilities not provided for in respect of:-Inland letter of Letter issued by Axis Bank Rs Nil

Bank Guarantee issued by Axis bank Nil (Rs 2.50 crore in previous year).

4. RETIREMENT BENEFITS

The company is not liable to pay retirement benefits.

5. LEASES

The company at present does not have any operational lease contract.

6. SEGMENT REPORTING

Based on the guiding principle given in the Accounting Standard - 17 “Segment Reporting” issued by The Institute of Chartered Accountants of India, the Company in single business segment of Trading.

7. In the opinion of Board of Directors and to the best of their knowledge and belief, the value on realization of current assets, loans and advances in the ordinary course of business would not be less than the amount at which they are stated in Balance Sheet. The provision for all known liabilities is adequate and is neither excess nor short of the amount reasonably necessary.

8. Dividends

The Board of directors has not recommended any dividend for the Financial year 2017-18 as funds are required for meeting working capital requirements of the company.

9. RELATED PARTY DISCLOSURES

Disclosures as required by Accounting Standard - 18 “Related Party Disclosures” issued by The Institute of Chartered Accountants of India are given below:-

10. Outstanding balances in sundry debtors & creditors are subject to confirmation from the parties.

11. Figures in brackets represent figures of previous year.

12. Previous year’s figures have been regrouped and/or rearranged wherever considered necessary.

Source : Dion Global Solutions Limited
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