| 1 Corporate information
Duropack Limited is engaged in business of Manufacturing of Flexible
laminates pouches and Holograpics Products. The company has been
incorporated in the year 1986. The company's registered office is in
Delhi.
2. Bank Guarantee issued in favour of Asst. Commissioner of custom,
Mumbai for Rs 60000/-. by the company's bankers and counter guaranteed
by the company for Rs 60000/- against which the margin is held by the
company's bankers by way of fixed deposits amounting to Rs 60000/-
3. In the opinion of the board and the best of their knowledge, the
current assets, loans and advances shown in the Balance sheet have a
value on realization in the ordinary course of the business at least
equal to the amount stated therein.
4. The company's has an export obligation of Rs 10347864 upto
30.10.2015 under EPCG scheme. Duty saved is Rs 1293483.
5. Sundry Debtors/ Creditors balances are subject to confirmation &
reconciliation.
6. The Company has been discharged from BIFR with w.e.f 25.09.2013 & is
no longer a sick industrial company.
7. Unclaimed Dividend of Rs 134,492 (f.y.1994-95), Rs 282,489 (f.y.
1995-96) & 586 (f.y. 1996-97) have not been transferred to the investor
education & protection fund as per provision of sec-205 A of the
companies act 1956.
8. Deferred tax assets & liabilities are measured using the current tax
rates. When there is unabsorbed depreciation or carry forward of
losses, deferred tax assets are recognized only to the extent that
there is virtual certainty of realization of deferred tax assets. Other
deferred tax assets are recognized to the extent, there is reasonable
certainty of realization of deferred tax assets. Such deferred tax
assets and other unrecognized deferred tax assets are re-assessed at
each balance sheet dates and the carrying value of the same are
adjusted recognizing the change in the value of each such deferred tax
assets.
9. As the company's business activity falls within a single primary
business segment viz. "Flexible packaging material, services "and
single geographical segment , the disclosure requirement of Accounting
Standard (AS-17)"Segment Reporting "notified in the companies
(Accounting Standards) Rules,2006 are not applicable.
10. There are no dues to micro, small and medium enterprises as at 31st
March, 2015.
11. Related party disclosures in terms of Accounting Standard 18 issued
by the Institute of Chartered Accountants of India are as per
annexure-1.
12. Provision for Income Tax of Rs 26,60,000 has been made for the year
2014-2015 as per Section 115 JB of the Income Tax Act, 1961.
13. Contingent Liabilities:
i) Estimated amount of Contracts remaining to be executed on capi-tal
account and not provided for - Rs. Nil
ii) Claims against the company not acknowledged as debts-Rs. Nil.
14. Provision for Gratuity
Provisions of Rs36995/- has been made on account of Gratuity for the
year.
15. The previous period figures, have been re-grouped or re-arranged
whenever considered necessary and have been shown in bracket.
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