Contingent liabilities are not recognized but disclosure of its existence is done in the Financial Statements. A contingent asset
is neither recognized nor disclosed in the Financial Statements.
Working Capital Loan has been availed under Consortium Banking arrangement from State Bank of Mysore, (Leader of Consortium) &
other member banks being State Bank of Hyderabad, State Bank of Travancore, Bank of India, Andhra Bank, Punjab National Bank,
Laxmi Vilas Bank Limited, Tamilnad Mercantile Bank Limited, Corporation Bank, Vijaya Bank, Indian Overseas Bank with sharing of
pari passu charge by way of hypothecation of present & future Currents Assets of the Company, consisting of Stock & Book Debts.
b) Rights and restriction attached to Shares Capital
The Company has one class of equity shares having a par value of Rs,10 each. Each shareholder is eligible for one vote per share
held. The Company has declared dividend of Rs,0.75 (i.e. 7.50%) per share during the current year and in previous year dividend
was of Rs,0.50 (i.e.5.00%) per share.
c) Share held by holding/ultimate holding company and/or their subsidiaries/associates :
There is no such Share held by holding/ultimate holding company and/or their subsidiaries/associates.
d) Shares allotted as fully paid up by way of bonus shares (during 5 years preceding March 31, 2016)
During the last 5 years preceding to March 31, 2016, the Company has allotted as fully paid up Bonus share in the ratio of 1:1 on
12.10.2015 as approved by Members in the EGM held on 29.09.2015.
|