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NOTES TO ACCOUNTS

Gujarat Petrosynthese Ltd.
You can view the entire text of Notes to accounts of the company for the latest year
Market Cap. (₹) 34.12 Cr. P/BV 0.70 Book Value (₹) 81.19
52 Week High/Low (₹) 89/52 FV/ML 10/1 P/E(X) 20.57
Bookclosure 14/08/2019 EPS (₹) 2.78 Div Yield (%) 0.00
Year End :2015-03 
1. "The Company had lodged claims on Axis Bank demanding repayment of fraudulent withdrawal of Rs .39,00,500/- during the year 2011-12. The adjudication complaint is Pending before the Adjudicator of Karnataka and other legal proceedings to recover the amount is before the Cyber Appellate Tribunal. In the opinion of management and legal consultant the amount is considered good for recovery thru judicial process. The current assets include the above claim of Rs. 39,00,500 (previous year Nil) recoverable from Axis Bank Ltd and is considered as good"

2. In the opinion of the Management:

a) All the current assets, loans and advances have a value on realization at least equal to the amount at which they are stated in the accounts.

b) All the known liabilities have been provided no liability, contingent or otherwise, except those which are stated in the accounts.

3. Depreciation

There is a change in accounting policy for providing Depreciation as per Schedule II of the Companies Act, 2013 due to which there is an increase of Rs 8,93,789/- in the current year depreciation and Rs 39,31,305 of additional Depreciation

has been charged to Reserves & surplus. The new rates of Depreciation have been reworked as per the useful life of the assets as per Schedule II of the Companies Act, 2013.

4. Commission to Directors not worked out in view of Loss during the year.

5. Based on the information received by the Company from the creditors in regard to their S.S.I. Status, there are no amounts due to such creditors outstanding for over 30 days exceeding Rs. One lakh as on 31st March, 2015. Based on such information, there is no liability for interest on delayed payments which would be payable under "The Interest on Delayed Payments to Small Scale and Ancillary Industrial undertakings ordinance, 1992". Moreover, the Company has not received any claims in respect of interest.

6. Additional information in pursuance to clause (ii) of part II of the Schedule III of Companies Act, 2013 are given to the extent as applicable to the Company.

7. The Company has written off old debit and credit balances of various parties during the year, net debit on this account is Rs NIL (Previous Year Rs NIL/- net Debit)

8. Prior Period expenses of Rs NIL (Previous Year expenses Rs 79,909/-)

9. Balances of Debtors, Creditors and Other parties are subject to confirmations.

10. Previous year's figure have been re-grouped and re-arranged wherever necessary.

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