| A. NATURE OF OPERATIONS
Raj Packaging Industries Limited was incorporated on 18th June, 1987 in
Hyderabad, Telangana.It has got manufacturing facility at the outskirts
of Hyderabad and engaged in manufacture of multilayer co-extruded
plastic film and flexible packaging material. It is a part of the
plastic packaging material industry.
B. OTHER NOTES
1. In the opinion of the Board, all the assets other than Non-current
Assets have a value on realization in the ordinary course of business
at least equal to the amount at which they are stated in the Balance
Sheet. The provision for depreciation and all other known liabilities
is adequate and not in excess of the amount reasonably necessary.
2.1 Contingent Liabilities and Commitments (to the extent not provided
for) - Nil.
2.2 The Company's pending litigations comprise of claims against the
Company and proceedings pending with Tax and other Authorities. The
Company has reviewed all its pending litigations and proceedings and
has made adequate provisions, wherever required and disclosed the
contingent liabilities, wherever applicable, in its financial
statements. The Company does not reasonably expect the outcome of these
proceedings to have a material impact on its financial statements.
3. Balances in Trade Payables, Trade Receivables, Other Current
Liabilities and Loans and Advances are subject to confirmations,
reconciliation & adjustments. In the opinion of the management,
adjustments, if any, on such confirmations / reconciliations will not
have material impact on the profit for the year.
4. The Company has not received any intimation from suppliers
regarding their status under the Micro, Small and Medium Enterprises
Act, 2006 and hence disclosures, if any, relating to amounts unpaid as
at the year end together with interest paid/payable as required under
the said Act have not been given.
5. In terms of Accounting Standard 17, the Company operates materially
only in one business Segment viz., Plastic Films and has its production
facilities and all other assets located in India. Sales comprise of
export sales of Rs. 1,02,87,419 (Previous Year Rs. Nil) and local sales
of Rs. 43,95,66,082 (Previous Year Rs. 42,81,41,260)
6. Disclosure in respect of related parties pursuant to Accounting
Standard 18:
(A) List of related parties:
Related parties with whom company entered into transactions during the
year:
i) Companies in which directors are interested:
Chetanya Securities Private Limited
ii) Key Management Personnel
Shri Prem Kankaria, Managing Director (M.D)
Shri M. Narsimha, CFO (Chief Financial Officer)
iii) Relative of Key Management Personnel and their entities
Miss Neepa Kankaria, Daughter of M.D
Mrs Shyama Kankaria, Spouse of M.D
Kankaria Leasing & Finance Private Limited
7. Previous years figures have been regrouped / rearranged where ever
necessary to conform to the current year's presentation.
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