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(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
confirmation.
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
Company.
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.
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