1. GENERAL INFORMATION :
Haria Exports Limited ('the Company') was incorporated on 28th August,
1970 under The Companies Act, 1956. The company is in the Business of
manufacturing of Notebooks and Plastic Preform and also trading of
goods.
2. Details of Shareholding as at March 31, 2015
i. Equity / Preference Shares held by various entities:
5,87,952 (5.09%) (PY: 5,87,952 (5.09%)) Eq. Shares of Rs. 10/- each
held by Vilco Pharma Pvt. Ltd.
ii. Shareholders holding more than 5% of Equity / Preference Shares:
24,82,530 (21.49%) {(PY: 24,82,530 (21.49%)) Equity Shares of Rs. 10/-
each held by Manish K. Haria (HUF) 11,83,842{(10.25%)} {(PY: 11,83,842
(10.25%)) Equity Shares of Rs.10/- each held by Mr. Ketan Keshvaji Shah
10,41,650 (9.02%) {(PY: 10,41,650(9.02%)) Equity Shares of Rs.10/- each
held by Mr. Ramesh Keshvaji Shah
3. Each Equity Share is entitled to one voting right only.
4. In the event of liquidation of the company, the holders of equity
shares will be entitled to receive assets remaining, after remittance
to the Preference Shareholders and distribution of all preferential
amounts.
5. Additional Information to Secured / Unsecured Long Term Borrowings:
6. Unsecured Long terms loans and advances from Related Parties :
a. Long Term loans from related parties are not going to be recalled
before the end of 2 years.
b. There was no default in repayment of the loans.
7. Unsecured Inter Corporate Deposits
a. Unsecured Inter Corporate Deposits from others are not going to be
recalled before the end of 2 years.
b. There was no default in repayment of the loans.
8. CONTINGENT LIABILITIES AND COMMITMENTS
PARTICULARS 2014-2015 2013-2014
(I) Contingent Liabilities
(A) Claims against the company/ disputed
liabilities not acknowledged as debts.
(i) Income Tax 27,030 27,030
(ii) FEMA 27,19,901 27,19,901
(B) Guarantees NIL NIL
(i) Guarantees to Banks and Financial
Institutions against credit facility
extended to third parties. NIL NIL
(II) Capital Commitments
9. EMPLOYEE BENEFITS :
The directors have waived off the claim in respect of gratuity as per
the Payment of Gratuity Act,1972 in the year under consideration,hence
no provision for the same is made.
10. Foreign exchange gain/loss (net) of Rs. NIL/- (Previous year Rs.
44,470/-) has been included in respective heads of the Statement of
Profit and Loss
11. SEGMENT REPORTING :
1) Information about Primary segment (by business segment)
a) Note books.
b) Engineering Goods - Trading
c) Notebooks - Trading
The Company's business segments are organised around product lines
which have been identified taking into account the nature of products,
the different risks and returns the organisational structure and
internal reporting systems.
i) Segment revenue segment results, segment assets and segment
liabilities include the respective amount identifiable to each of the
segment as also the amount allocated on reasonable basis. The expenses
which are not directly relatable to the business segment are shown as
unallocated corporate cost.
12. RELATED PARTY DISCLOSURE :
LIST OF RELATED PARTIES PARTICULARS
Subsidiaries / Associates NIL
Key Management Personnel 1] Kantilal Haria
2] Manish Haria
Enterprise in which key management
personnel, and their relatives have 1] Plastex Products Pvt Ltd
significant influence
2] Haria Apparel Limited
Relative of Key Management Personnel NIL
13. The Trade Receivables of Rs. 2,55,81,723/- are overdue and
outstanding since three years. The management has made the provision
for doubtful debts of on the overdue amount.
14. The balance confirmations have been sent to Sundry Debtors,
Creditors, Deposits and Loans & Advances Parties, due adjustment if any
shall be done on receipt of the confirmation. Management is confident
of receiving all the sums due. The provisions for all known liabilities
and for depreciation is adequate and not in excess of the amounts
reasonably necessary.
15. In the opinion of the board the current assets, loans and advances
are approximately of the values stated in the Balance Sheet, realized
in the ordinary course of business.
16. In the absence of declaration from sundry creditors / suppliers
with regard to their status as SSI Undertaking wherever appropriate, it
is not possible to determine the amount, payable to sundry creditors
falling within the meaning of SSI Undertaking.
17. Disclosure under Micro, Small and Medium Enterprises development
Act, 2006. The Company has not received any memorandum ( as required to
be filed by the suppliers with notified authority under the Micro,
Small and Medium Enterprises development Act, 2006) claiming their
status as micro, small and medium enterprises. Consequently the amount
paid/payable to these parties during the period under review is NIL
18. Sundry balances are written off amounting to net Rs. 53,747/- as
per the resolution passed by the Board of Directors at their meeting
held on 6th April, 2015
19. Previous Year Figures have been regrouped &
reclassified/rearranged wherever necessary.
As per Report of the even date attached.
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