| Details of Equity Shareholders holding more than 5 % of equity shares
along with No.of Equity Shares held at the beginning and at the end of
the reporting period are as given below:-
Note No 2.1 A
Loans from Directors & Other Related Parties are repayable after 12
Months and carries interest rate Of 15% p.a.
Note No.2.2 B
Repayment of Unsecured loans are sub- ordinated to bank borrowings -
Cash credit from Andhra Bank
Note No. 2.2.a Employee Benefit:
As per Accounting Standard 15 "Employees Benefits" the disclosures of
Employees Benefit as defined in the Accouting Standard are given below:
Defined Contributions:
Payments and Provisions for employees include Rs.11.96 lakhs (Previous
Year RS.10.11 lakhs) recognised as expenses in respect of defined
contribution plans.
Defined Benefit Plans:
Gratuity - Gratuity is payable to all the eligible employees of the
Company on resignation, death, Permanent disablements in terms of the
Payment of Gratuity Act,1972.
Leave Encashment - Entitlement of annual leave is recognised when they
accrue to employeesAnnual leave can either be availed or encashed
subject to a restriction on the maximum number of accumulation of
leaves.
For the For the
Year Ended Year Ended
31.03.2015 31.03.2014
Note. No. 2.3
(a) CONTINGENT LIABILITIES :
(i) On account of Bank Guarantee 500,000 0
(ii) Claims against the company/ disputed
liabilities not acknowledged as debts:
(a) In respect of Excise matters 1,629,999 0
Demand raised for the year 2008-09 to 2013-14
(Oct-2013)-Appeal pending with Commissioner
Appeals (Central Excise - Nagpur)
(b) In respect of Customs matter - Demand
raised for the year 2000-2001.and
Appeal pending with CESTAT Mumbai) 696,062 0
The Company expects no liability in respect
of above matters.
TOTAL 2,826,061 -
(a) In accordance with the provisions of Schedule II of the Companies
Act, 2013 effective from 1st April,2014, the carrying value (Net of
residual value) amounting to Rs. 9,62,197/- (Net of Deferred Tax of Rs.
4,30,273/-) as a transitional provision has been recognised in the
retained earnings.
(b) Further in case of assets aquired prior to 1st April,2014, the
carrying value of assets (Net of Residual Value) is depreciated over
the remaining useful life as determined effective from 1st April, 2014.
(c ) Depreciation & Amortization expenses for the year would have been
higher by Rs.21,42,938/- had the company continued with the previous
assessment of useful life of such assets.
Note no. 2.4
The Company has not obtained Confirmations of balances outstanding to
trade payables and receivables to debit and credit of the parties which
are subject to reconciliation and review thereof by the management.
Note No. 2.5
RELATED PARTY TRANSACTIONS
Names of Associated Companies
Godavari Capital Pvt. Ltd.
Godavari Homes Pvt. Ltd A.K. Paper Products Pvt. Ltd.
NAMES OF ASSOCIATED FIRMS : NIL NAMES OF KEY MANAGEMENT PERSONNEL
Mr. Mukund Kakani, Mr. Mohit Jaju, Mr. Kirti Kumar Jain and Mr. Jeevan
Innani Names of Relatives of Key Management Personnel
Mr. Ghanshyam Jaju, Mrs. Kamala Jaju, Ghanshyam Jaju HUF, and Mrs.
Sushma kakani
Note No. 2.6
Previous period's figures have been recast/restated to confirm to the
current year presentations.
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