| 1.1 Working Capital Limits Sanctioned by Tamilnad Mercantile Bank Ltd.,
are repayable on demand from bank and are secured against Hypothecation
of Inventories, Book Debts / Receivables , Bills Negotiation drawn
under ILC/ FLC, against Collateral Security of Open Land and premises
in the name of the Company and Personal Gurantee of Directors and the
sanctionad limits are Rs. 1.50 Crores for C.C. Rs. 50 Lacs for FBN/IBN.
Rs. 14 Crores for FLC/ILC. Rs. 15 Crores for Forward Contract.
2. Limits Sanctioned by Can Bank Factors Ltd is secured against the
PDC's for the full value of factored invoices of 5 parties.
3. Orher Payables includes Rental Advance and statutory dues such as
TDS Payable, Service Tax Payable and other Outstanding Liabilities.
4. As confirmed by the management, there are no dues above Rs. 1.00
Lakh Outstanding for more than 45 days to Micro and Small Scale
Undertakings.
5. Fixed Deposits with Bank includes deposits of Rs.55.70/-
Lakhs(Previous year 153.65/-) with maturity of more than 12 Months.
6. Advance to Others includes an amount of Rs. 11,00,000/- paid Anand
Solvex Limited which is overdue and the case is pending in the court
for the recovery of the same.
7. Deposits includes deposits paid towards amenities i.e.,
Electricity, Telephone, Rent etc.,
8. The company does not have Whole Time Company Secretary, as per
requirements of Section 203 of the Companies Act, 2013. Hence, the
accounts have not been signed by the Company Secretary.
9. The company operates in only one segment i.e. 'India'. Hence
separate information on geographical segment is not required. The
accounting policies adopted for segment reporting are in line with the
accounting policies adopted for preparation of financial information of
the Company.
10. Related Party Disclosure as per Accounting Standard -18:
During the year, the Company entered into transactions with the related
parties. Those transactions along with related balances as at 31 st
March, 2015 and for the year ended are presented in the following
table.
11. Figures in brackets in these notes are in respect of previous
year.
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