| Note : 1
Term loan from Apna Sahakari Bank Ltd. Aggregating to Rs.
1,43,71,083/- is secured by
(a) Personal guarantee of the two Directors of the Company
(b) Pledge of Rs. 62,50,000/- of Fixed deposit of Third Party with Bank
(c) Shares of Rs. 25000/- of Apna Sahakari Bank Ltd.
(d) Primary Security : First Charge on Plant & Machinery of the Company
(e) Collateral Security : Hypothecation of new Machine procured in
future
Note : 2
Cash Credit from Apna Sahakari Bank Ltd. Aggregating to Rs.
11,45,238/- @ 13.50%, is secured by:
(a) Personal guarantee of the two Directors of the Company
(b) Pledge of Rs. 12,50,000/- of Fixed deposit of Third Party with Bank
(c) Primary Security : First Charge on Plant & Machinery of the Company
(d) Collateral Security : Hypothecation of all Stocks of the Company
Note : 3
The disclosures of employee Benefits as defined in Accounting
Standard AS-15 are given below:
Defined Contribution Plan :
Contribution to defined contribution plan recognised as expenses for
the year is as under:
Employers contribution to Provident Fund Rs 11,13,882/- (Previous Year
Rs. 10,56,665/-)
Defined Benefit Plan :
The employees Gratuity Fund Scheme managed by a Trust is a defined
benefit plan. The present value of obligation is determined based on
acturial valuation. The obligation for Leave encashment is recognised
in the same manner as Gratuity.
Note : 4
Foreign Currency exposure that are not hedged by Derivative
instruments or forward contracts as at March, 31, 2015 amount to Rs.
5,21,20,943/- (Previous Year Rs. 5,60,18,082/-)
Note : 5
Segment Information
The Company has only one primary segment viz: "Printed Circuit Board".
The Company has only one major secondary segment viz : Exports out of
India. Hence no additional disclosure is required under Accounting
Standard AS-17.
Note : 6
The net amount of foreign exchange difference Debited to Profit &
Loss Accounts is Rs. 69,578/- (Previous Year Rs. 32,51,967/-Credited.)
Note : 7
Contingent Liabilities :
In respect of :
(i) Bonds executed in favour of
President of India in respect
of Custom Duty on Import of
Machinery and Raw Materials 28,89,18,000 22,05,82,000
(ii) Estimated amount of contracts
remaining to be executed on
capital account and not
provided for (Net of Advances) NIL NIL
Note : 8
Related Party Disclosures: (As certified by the management)
a. Key Management Personnel:
a - Key Management Personnel Relationship
1. Shri. B. T Doshi Executive Chairman
2. Shri. A. B. Doshi Managing Director
3. Shri. R. B. Doshi Executive Director
b - Parties where control exists
1. Kapurwala Properties Pvt. Ltd.
2. Shri. Gautam B. Doshi Director
Note : 9
Pursuant to the enactment of Companies Act, 2013, the Company has
applied the estimated useful lives as specified in Schedule II.
Accordingly the unamortised carrying value is being depreciated/
amortised over the revised / remaining useful lives. The written down
value of Fixed Assets whose lives have expired as at 1st April 2014
have been adjusted net of tax, in the opening balance of Profit and
Loss Account amounting to Rs. 4,26,415/-
Note : 10
Previous year's figures have been regrouped / rearranged / recast
wherever necessary.
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