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moneycontrol.com भारत | लेखांकन नीति > Aluminium > लेखांकन नीति फॉलोड से संगम - बीएसई: 513297, NSE: N.A

संगम

बीएसई: 513297  |  NSE: N.A  |  ISIN:  |  Aluminium

खोजें संगम कनेक्शन
लेखांकन नीति साल : मार्च '01
a) Accounting Convention :
 
 The accounts are prepared on a historical cost convention and
 materially complies with the Accounting Standards as referred to in
 Section 211(3C) of the Companies Act, 1956.
 
 b) Fixed Asset and Depreciation :
 
 i) Fixed Assets are valued at cost less accumulated depreciation.
 
 ii) Depreciation has been provided on Straight Line Method as per rates
 prescribed in Schedule XIV to the Companies Act, 1956.
 
 c) Valuation of Inventories :
 
 i) Closing Stock of Raw Materials, are valued at cost on FIFO basis.
 
 ii) Closing Stock of Work in Progress is valued at lower of average
 cost or estimated realisable value.
 
 iii) Closing Stock of Finished goods is valued at lower of cost or net
 realisable value.
 
 iv) Closing stock of Dies is valued at their amortised cost based on
 the production.
 
 v) Tools are valued at their depreciated value.  
 
 vi) Reusable Metals are valued at net realisable value.  
 
 vii) No provision for dimunition in the value of dies have been made,
 in the absence of any production during the year and stores and spares
 have been valued at cost without the same being written down to the
 expected realizable value.
 
 d) Excise Duty :
 
 Excise duty on finished goods is accounted at the time of despatch and
 is included in the sales value.
 
 e) Retirement Benefits :
 
 i) Gratuity: Liability of Gratuity has been provided in accordance with
 the provisions of the Gratuity Act.  
 
 ii) Leave encashment: Year end accrued liability towards Leave
 encashment benefits payable to the employees is recognised as revenue
 charge in the accounts.
 
 f) Miscellaneous Expenditure :
 
 i) Preliminary and Share issue expenses are written off over a period
 of ten years.  
 
 ii) Deferred revenue expenditure are written off over a period of five
 years.
 
 g) Subsequent to the directions of the Board for Industrial and
 Financial Reconstruction vide letter dtd. 29th November 1999, only the
 present promoters submitted a proposal and the same was not found
 acceptable to the Banks and Financial Institutions. Consequently, the
 Company received a show-cause notice from BIFR for winding up of the
 Company. However, the present promoters have submitted a fresh proposal
 and sought for a fresh rehabilitation package from the Financial
 Institutions and Banks, based on which the BIFR has kept the show cause
 notice in abeyance and has directed the Operating Agency to consider
 the revised proposal and submit a fresh rehabilitation package. At the
 meeting held on 9th February 2001, the Financial Institutions have
 expressed their willingness to-settle the accounts if the company makes
 payment of 100% of the balance, crystallised one time settlement dues,
 agreed upon earlier and the Banks have sought time to express their
 stand
 on the company's offer. The Company is yet to receive the communication
 from the Banks.  In view of the expression of willingness of the
 Financial Institutions and Banks to consider the revised proposal, the
 Company is hopeful of reviving the production based on which the
 accounts have been prepared on 'going concern' concept.
 
 h) In the opinion of Board of Directors :
 
 i) the market value of Assets given as security for the Secured Loans
 are inadequate to cover both One Time Settlement (OTS) dues of
 Financial Institutions and Banks and the Interest free Sales Tax (IFST)
 Loan received from the Government of Tamil Nadu and as such the IFST
 Loan which has 2nd charge on the Fixed Assets, is classified as
 Unsecured Loan.
 
 ii) All other Current assets, Loans and advances except the inventories
 have atleast the value as stated in the Balance Sheet if realised in
 the ordinary course of business.
 
स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

  • MARKET CUES : FIIs ने कैश में `566.52 Cr की खरीदारी की
  • MARKET CUES : DIIs ने कैश में `183.41 Cr की खरीदारी की
  • MARKET CUES : FIIs ने F&O में `800 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स फ्यूचर्स में `818 Cr की बिकवाली की
  • MARKET CUES : इंडेक्स ऑप्शंस में `140.36 Cr की खरीदारी की
  • MARKET CUES : स्टॉक फ्यूचर्स में `42.76 Cr की बिकवाली की
  • MARKET CUES : स्टॉक ऑप्शंस में `79.20 Cr की बिकवाली की
  • MS ON TCS : Equal-weight रेटिंग, लक्ष्य `1,980/Sh
  • MS ON TITAN : Equal-weight रेटिंग, लक्ष्य `1240/Sh
  • MS ON ICICI BANK : Overweight रेटिंग, लक्ष्य `665/Sh

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