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SENSEX NIFTY India | Notes to Account > Pesticides & Agro Chemicals > Notes to Account from Syschem India - BSE: 531173, NSE: N.A

Syschem India

BSE: 531173|ISIN: INE121D01036|SECTOR: Pesticides & Agro Chemicals
Oct 11, 16:00
Syschem India is not listed on NSE
Mar 13
Notes to Accounts Year End : Mar '14
(Rs in Lacs) 
 Particulars                           31st March 2014    31st March 2013
 1 Contingent liabilities and Commitments:
 (to the extent not provided for)
 a) Contingent Liabilities:
 i) Claims against the Company not 
    acknowledged as debts                        22.50            10.50
 ii) Bank Guarantee                                  -           300.00
 iii) Tax demands under disputes                 14.94            19.49
 iv) Other monies for which Company is contingently liable H
 The management believes, based on internal assessment and / or legal
 advice, that the probability of an ultimate adverse decision and
 outflow of resources of the Company is not probable and accordingly, no
 provision for the same is considered necessary.
 b) Commitments
 i) Estimated amount of contracts remaining - 17.45
 to be executed on capital account and not
 provided for (net of advances) ii) Other Commitments
 2 Additional Information:
 1) Details related to Long term Borrowings
 a Details of security
 Term Loan is secured by hypothecation of Land & Building, Plant &
 Machinery and Misc Fixed Assets purchased from the term loan coupled
 with extension of charge on existing asset block of the Company.
 Vehicle Loans are secured against hypothecation of vehicles for which
 loan has been taken.
 Other Secured Loans are secured by way of first charge on assets
 against which loan is taken and personal guarantee of the Managing
 Directorand Whole-time Directors of the Company.
 b Term Loan, Cash Credit and Bank Guarantee from PNB are guaranteed and
 collaterally secured by the Managing
 Director and the Whole-time Directors of the Company along with Mr.
 Ajay Kumar Chaudhary, Mr. and Mrs Atul Kumar, M/s Allychem Laboratories
 Pvt. Limited and Allychem Securities Pvt. Limited.
 3) The management has certified the fixed assets installed and put to
 use & relied upon by the auditors, being a technical matter.  During
 the year, Borrowing cost and other cost capitalized up to March 31,2014
 Rs 209.43 lacs (as at March 31,2013 is Rs 262.23 lacs)
 4) The inventory of stocks, stores and spares has been taken, valued
 and certified by the management.
 5) The balance of Trade Receivable and Trade Payable, are subject to
 6) Segment Reporting
 The Company is working under one business segment only i.e. chemicals.
 These chemicals are having different applications.  Besides there is
 not any significant variances on geographical basis, so the segment
 reporting defined under Accounting Standard 17 is not applicable to the
 7) Previous year''s figures have been re-arranged and reclassified
 wherever necessary to make them comparable with the current year''s
 figures. The amount have been rounded off to nearest lakhs.
Source : Dion Global Solutions Limited
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