| 1. The Company has only one class of shares namely equity shares
comprising of nominal value of Rs 10 per equity shares. Each holder of
equity shares is entitled to one vote per share. The shareholders have
the right to receive interim dividends, if any, declared by the Board
of Directors and final dividends proposed by the Board of Directors and
approved by the shareholders. In the event of liquidation of the
Company, the holders of equity shares will be entitled to receive any
of the remaining assets of the Company after distribution of
preferential amounts. The distribution will be in proportion to the
number of equity shares held by the shareholders. The equity
shareholders have all other rights as available to the equity
shareholders as per the provisions of the Companies Act, 1956, read
together with the Memorandum of Association and Articles of Association
of the Company as applicable.
2. Out of 61,61,100 Equity shares issued subscribed and paid up,
13,60,000 Equity shares of Rs 10/- each have been issued and allotted
as fully paid bonus shares on 29th December 2007 by capitalisation of
General Reserves.
3. Short term borrowings from Banks represents working capital
borrowings by way of cash credit repayable on demand. They are secured
by hypothecation of raw-materials, work in progress, finished goods,
book debts and a part of plant and machineries, and additionally
secured by equitable mortgage by deposit of title deeds of land and
personal guarantees of promoter directors.
4. The Company has not accepted any deposits from public. The
deposits represents unsecured security deposits from dealers which will
be retained with the Company till such time the dealership arrangement
continues.
5. The Company has not borrowed any funds from related parties.
6.Related Party Transactions during the year ended 3f'March 2015:
1. Relationships
a. Key Management Personnel
Mr B. Popatlal Kothari - Managing Director
Mr P Kashyap Kothari - Factory Manager
b. Relatives of Key Managerial Personnel:
Mr P Nitya Kothari
7. The Company operates in a single segment and as such disclosures
under segmental reporting is not applicable.
8.The Depreciation on tangible assets have been re-computed based on
useful life of assets, under straight line method as prescribed under
Schedule II to the Companies Act, 2013. The re-computation has resulted
in the excess depreciation amounting to Rs 669810 being written off
against the assets as on 1 st April 2014 which has been adjusted
against the retaining earnings in the reserves as at the beginning of
the year.
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