| 2014-15 2013-14
1. CONTINGENT LIABILITIES (not provided for)
Claim against company not acknowledged as Debt 2.50 0.50
2. In view of uncertainty that sufficient future taxable income will be
available against unabsorbed depreciation and carried forward losses
under tax laws, deferred tax assets has not been recognized.
3. In spite of company's net worth being fully eroded, Accounts have
been prepared on going concern basis.
4. The company's operations fall under single segment namely
"Chemicals".
5. Related Party Disclosure
a. Parties where control exists :
Refnol Overseas Limited Subsidiary
Tex Care Middle East LLC Sub-subsidiary
Tex Care Bahrain WLL Sub-subsidiary
b. Other related parties with whom transactions have taken place
during the year :
i Other parties
Indokem Limited Associate
Indokem Export Limited Associate
Shubhlabh Chemicals Pvt. Ltd. Associate
Formost Chemicals Pvt. Ltd. Associate
Chemron Texchem Pvt. Ltd. Associate
Orchard Acres Associate
Priyamvada Holdings Limited Associate
Khatau Leasing and Finance Co. Pvt. Ltd. Associate
MKK Holdings Private Limited Associate
Vindyapriya Holdings Private Limited Associate
ii. Key Management Personnel & Relatives :
1. Mr. Mahendra K. Khatau, Chairman
2. Mr. Arup Basu, Managing Director
3. Mr. Vikas Agarwal, Chief Financial Officer
4. Ms. Anu Rajput, Company Secretary
5. Vikas Agarwal (HUF), HUF firm of Vikas Agarwal, Chief Financial
Officer
6. Mr. Abhik Basu, S/o, Mr. Arup Basu, Managing Director
7. Mrs. Leela K. Khatau, Executive (Mother of Mr. Mahendra K. Khatau,
Chairman)
6. The figures of the previous year have been regrouped / reclassified
/ rearranged, wherever necessary.
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