Notes to Accounts of JVL Agro Industries Ltd.

Mar 31, 2016

Note 1 LIABILITY OF GRATUITY

The liability of gratuity of employees is provided by taking LIC''s group gratuity insurance scheme. For the year, premium on gratuity is yet to be paid . As per management there is no further liability of gratuity as on 31st March ''2016.

Note 2 TRADE RECEIVABLE, TRADE PAYABLE AND LOANS & ADVANCES

Trade Receivables, Trade Payable, Loans & Advances are taken as certified by management, which are subject to confirmation and reconciliation from respective parties.

Note 3 PREVIOUS YEAR FIGURE

Figures of previous year have been regrouped and rearranged whenever necessary. Figures in brackets are for previous years. All monetary figures are in crore. Figures below Rs.50000/- are seperately stated in Rupees.

Note 4 CAPITAL & OTHER COMMITMENTS

Estimated amount of expenditures on capital account for next year is Rs. 10.00 Crores as per management certificate.

Note 5 FIXED DEPOSIT PLEDGE WITH BANK

Note 6 UNPAID DIVIDENT PAYABLE TO INVESTOR EDUCATION & PROTECTION FUND

The dividend payable for the year 2004-05, 2005-06, 2006-07 & 2007-08 which have not been transferred to Investor Education & Protection Fund A/c.

Dividend Payable for F.Y. 2004-2005 Rs..04

Dividend Payable for F.Y. 2005-2006 Rs.02

Dividend Payable for F.Y. 2006-2007 Rs..05

Dividend Payable for F.Y. 2007-2008 Rs.04

Note 7 CSR EXPENDITURE

The Company has incurred Rs.0.42 crore under corporate social responsibility.

---

Mar 31, 2015

Note 1. LIABILITY OF GRATUITY

The liability of gratuity of employees is provided by taking LIC's group gratuity insurance scheme. For the year, premium on gratuity is yet to be paid . As per management there is no further liability of gratuity as on 31st March '2015.

Note 2. TRADE RECEIVABLE, TRADE PAYABLE AND LOANS & ADVANCES

Trade Receivables, Trade Payable, Loans & Advances are taken as certified by management, which are subject to confirmation and reconciliation from respective parties.

Note 3. PREVIOUS YEAR FIGURE

Figures of previous year have been regrouped and rearranged whenever necessary. Figures in brackets are for previous years. All monetary figures are in crore. Figures below H50000/- are separately stated in Rupees.

Note 4. CAPITAL & OTHER COMMITMENTS

Estimated amount of expenditures on capital account for next year is H10.00 Crores as per management certificate.

Note 5. UNPAID DIVIDENT PAYABLE TO INVESTOR EDUCATION & PROTECTION FUND

The dividend payable for the year 2004-05, 2005-06 & 2006-07, which have not been transferred to Investor Education & Protection Fund A/c.

Dividend Payable for F.Y. 2004-2005 H.04

Dividend Payable for F.Y. 2005-2006 H.02

Dividend Payable for F.Y. 2006-2007 H.05

Note 6. DEPRECIATION ADJUSTMENT ACCOUNT

The useful life of fixed assets have been revised in accordance with Schedule II to the Companies Act, 2013 which is applicable from accounting period commencing on or after 1st April'2014 or as the assessment of useful lives by the management based on technical evaluation. Accordingly an amount of H0.09 Crore (Net Of Differed Tax) representing assets as at 1st April, 2014 has been charged to Reserve & Surplus.

Note 7. CSR EXPENDITURE

The Company has incurred H0.45 crore under corporate social responsibility.

---

Mar 31, 2014

Note 1 COMPANY INFORMATION

JVL Agro Industries Limited (the ''Company'') is a public limited company and listed on Bombay Stock Exchange (BSE), National Stock Exchange (NSE), Delhi Stock Exchange and Uttar Pradesh Stock Exchange (Kanpur). The company is market leader in edible oil industry. The company has manufacturing facilities in Naupur- Uttar Pradesh, Alwar- Rajasthan, Dehri- Bihar and at Haldia- West Bengal and sell primarily in India.

(Rs. in crore)

Particulars Reporting Period Reporting Period ended on ended on 31st March 2014 31st March 2013

Note 2 CONTINGENT LIABILITY & OTHER COMMITMENTS

Claim against the company not acknowledged as debts

Trade Tax Liability under appeal before H''bleHigh Court, Allahabad 0.36 0.36

Excise Demand under appeal at different stage at H''ble High Court, Allahabad 0.03 0.03

Entry Tax demand under appeal before H''ble Supreme Court for different years for 0.67 0.64 which Bank Guarantee given by the company

Excise Duty on Fatty Acid not paid for different years under appeal at Appelate 10.85 8.42 Tribunal, Custom, Excise & Service Tax, New Delhi.

Note 3 LIABILITY OF GRATUITY

The liability of gratuity of employees is provided by taking LIC''s group gratuity insurance scheme. For the year, premium on gratuity is yet to be paid . As per management there is no further liability of gratuity as on 31st March 2014.

Note 4 TRADE RECEIVABLE, TRADE PAYABLE AND LOANS & ADVANCES

Trade Receivables, Trade Payable, Loans & Advances are taken as certified by management, which are subject to comfirmation and reconciliation from respective parties.

Note 5 PREVIOUS YEAR FIGURE :

Figures of previous year have been regrouped and rearranged whenever necessary. Figures in breakets are for previous years. All monetary figures are in crore. Figures below Rs.50000/- are seperately stated in Rupees.

Note 6 CAPITAL & OTHER COMMITMENTS

1. Estimated amount of expenditures on capital account for next year is Rs.15.00 Crores as per management certificate.

2. The Company has informed that acquisition of 500 Acre of land in Bihar through Court order have been made as a part of its plan to enter in to other commodity in which company can venture out & leverage its existing sales and distribution network. This will further strenghten the position of the company in the market.

Note 7 UNPAID DIVIDENT PAYABLE TO INVESTOR EDUCATION & PROTECTION FUND

The dividend payable for the year 2004-05 & 2005-06, which should have been transferred to Investor Education & Protection Fund A/c, but not yet transferred.

Dividend Payable for F.Y. 2004-2005 Rs. .04 Dividend Payable for F.Y. 2005-2006 Rs. .02

---

Mar 31, 2013

Note 1 COMPANY INFORMATION

JVL Agro Industries Limited (the ‘Company'') is a public limited company and listed on Bombay Stock Exchange (BSE), National Stock Exchange (NSE), Delhi Stock Exchange and Uttar Pradesh Stock Exchange (Kanpur). The Company is market leader in edible oil industry. The Company has manufacturing facilities in Naupur- Uttar Pradesh, Alwar- Rajasthan, Dehri- Bihar and at Haldia- West Bengal and sell primarily in India.

Note 2 LIABILITY OF GRATUITY

The liability of gratuity of employees is provided by taking LIC''s group gratuity insurance scheme. For the year, premium on gratuity is yet to be paid. As per management there is no further liability of gratuity as on 31st March ''2013.

Note 3 TRADE RECEIVABLE, TRADE PAYABLE AND LOANS & ADVANCES

Trade Receivables, Trade Payable, Loans & Advances are taken as certified by management, which are subject to confirmation and reconciliation from respective parties.

Note 4 PREVIOUS YEAR FIGURE

Figures of previous year have been regrouped and rearranged whenever necessary. Figures in brackets are for previous years. All monetary figures are in crore. Figures below Rs.50000/- are separately stated in Rupees.

Note 5 CAPITAL & OTHER COMMITMENTS

1. Estimated amount of expenditures on capital account for next year is Rs.15.00 Crores as per management certificate.

2. The Company has informed that acquisition of 500 Acre of land in Bihar through Court order have been made as a part of its plan to enter in to other commodity in which company can venture out & leverage its existing sales and distribution network. This will further strengthen the position of the Company in the market.

---

Mar 31, 2012

Note 01 COMPANY INFORMATION

COMPANY INFORMATION: JVL Agro Industries Limited (the 'Company') is a public limited company and listed on Bombay Stock Exchange (BSE), National Stock Exchange (NSE), Delhi Stock Exchange and Uttar Pradesh Stock Exchange (Kanpur). The company is market leader in edible oil industry. The company has manufacturing facilities in Naupur- Uttar Pradesh, Alwar- Rajasthan, Dehri- Bihar and proposed at Haldia- West Bengal and sell primarily in India.

(Rs. in Crore) Particulars As at As at 31 March, 2012 31 March, 2011

Note 2 CONTINGENT LIABILITY & OTHER COMMITMENTS

Claim against the company not acknowledged as debts:

Trade Tax Liability under appeal before H'ble High Court, Allahabad 0.36 0.36

Excise Demand at different stage at H'ble High Court, Allahabad 0.03 0.03

Entry Tax demand under appeal before H'ble Supreme Court for different years for which Bank Guarantee given by the company 0.64 0.52

Excise Duty on Fatty Acid not paid for different years under appeal at Appelate Tribunal, Custom, Excise & Service Tax, New Delhi. 1.24 0.00

Note 3 LIABILITY OF GRATUITY

The liability of gratuity of employees is provided by taking LIC's group gratuity insurance scheme. During the year premium & gratuity paid and debited to statement of profit & loss. As per management there is no further liability of gratuity as on 31st March '2012.

Note 4 TRADE RECEIVABLE, TRADE PAYABLE AND LOANS & ADVANCES

Trade Receivables, Trade Payable, Loans & Advances are taken as certified by management, which are subject to comfirmation and reconciliation from respective parties.

Note 5 PREVIOUS YEAR FIGURE

The financial statements for the year ended 31st March, 2011 had been prepared as per the then applicable, pre-revised Schedule VI to the Companies Act, 1956. Consequent to the notification of Revised Schedule VI under the Companies Act, 1956, the financial statements for the year ended 31st March, 2012 are prepared as per Revised Schedule VI. Accordingly, the previous year figures have also been reclassified to conform to this year's classification. The adoption of Revised Schedule VI for previous year figures does not impact recognition and measurement principles followed for preparation of consolidated financial statements. All monetary figures are in crore. Figure below Rs. 50000/- are seperately in Rupees.

Note 6 CAPITAL & OTHER COMMITMENTS

1. Estimated amount of expenditures on capital account for next year is Rs. 30.00 Crores.

2. The Company has informed that acquisition of 500 Acre of land in Bihar through Court order have been made as a part of its plan to enter in to other commodity in which company can venture out & leverage its existing sales and distribution network. This will further strenghten the position of the company in the market.

---

Mar 31, 2011

1. Previous Year figures have been regrouped and rearranged wherever necessary. Figures in the brackets are for previous year and all monetary figures are in Crores. Figures below Rs.50000/- are given separately in Rupees.

2. Depreciation during the year has been provided on straight line method at the rates prescribed under Schedule XIV of the Companies Act, 1956.

3. The liability of gratuity of employees is provided by taking LIC's group gratuity insurance scheme. During the year premium & gratuity paid and debited to profit and loss account. As per management there is no further liability of the gratuity as on 31.03.2011.

4. Sundry Debtors,Creditors,Loans and advances are taken as certified by the management which are subject to confirmation and reconciliation from respective parties.

5. a. Salary & wages includes payments of Remuneration to

I) Chairman Rs.0.17 (Rs.0.16).

ii) Managing Director Rs.0.17 (Rs.0.16).

iii) Whole Time Director Rs.0.13 (Rs.0.12).

b. Expenses under different heads include Cost Audit Fee, Internal audit Fee and auditors travelling Rs.0.03 (Rs.0.02).

6 Contingent liabilities not provided for in respect of :-

i) Trade Tax liability Rs.0.36 (Rs.0.36) under appeal before High Court, Allahabad.

ii) Sale tax demand under appeal Rs.0.22 (Rs.0.17) before Commissioner of Sales Tax (Appeal).

iii) Excise demand under appeal at different stages.

a. Rs.0.03 (Rs.0.03) high court, Allahabad.

b. Rs.0.03 (Rs.0.03) Commissioner (appeal), Allahabad

iv) Entry Tax demand under appeal before H'ble High Court for different years for which Bank Guarantee given by Company of Rs.0.52 (Rs.0.35).

7 Deferred Tax Assets/Liabilities

Deferred tax is recognised on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

8 Details of Securities as Certified By Management for Secured Loans are as follows:-

i) Bank of Baroda

Cash Credit - For Naupur and Alwar unit-Secured by Hypothecation of entire stocks in Trade, debtors and movable current assets. Secured by first charge on the fixed assets and personally guaranteed by two directors, their relative and a group company. Also secured by mortgage of joint property of one Director.

Term Loan - For Naupur and Alwar unit-Secured by Hypothecation of entire stocks in Trade, debtors and movable current assets. Secured by first charge on the fixed assets and personally guaranteed by two directors, their relative and a group company. Also secured by mortgage of joint property of one Director.

ii) Punjab National Bank

Cash Credit - For Naupur and Alwar unit-Secured by Hypothecation of entire stocks in Trade, debtors and movable current assets. Secured by first charge on the fixed assets and personally guaranteed by two directors, their relative and a group company. Also secured by mortgage of joint property of one Director.

Term Loan - For Naupur and Alwar unit-Secured by Hypothecation of entire stocks in Trade, debtors and movable current assets. Secured by first charge on the fixed assets and personally guaranteed by two directors, their relative and a group company. Also secured by mortgage of joint property of one Director.

iii) Cash Credit from other Banks - Hypothecation of entire current assets of unit at Chakia, Dehari, Bihar and Haldia, West Bengal on pari-passu basis with other working capital bankers and personal guarantee of two directors and collaterally secured by second charge on equitable mortgage of the land and factory at Chakia, Dehari, Bihar and Haldia, West Bengal on pari-passu basis with other term lenders and hypothecation charge on other fixed assets including plant & machinery at Chakia, Dehari, Bihar and Haldia, West Bengal on pari-passu basis with other term lenders.

Term Loan from other Banks - Equitable mortgage of land and factory at Chakia, Dehari, Bihar and Haldia, West Bengal on pari- passu basis with other term lenders.

Hypothecation of other fixed assets including plant & machinery at Chakia, Dehari, Bihar and Haldia, West Bengal on pari-passu basis with other term lenders and Collaterally secured by second charge on current assets of unit at Chakia, Dehari, Bihar and Haldia, West Bengal on pari-passu basis with personal guarantee of two directors.

The Other Banks includes State Bank Of India, State Bank Of Hyderabad, State Bank of Travancore, State Bank Of Patiala, State Bank Of Bikaner & Jaipur and Vijaya Bank.

9. Sundry Creditors includes Rs.2.22 (Rs.1.00) Due to Micro and Small Scale Industrial undertakings to the extent such parties have been identified from the available documents/informations with the company and as certified by the management. The names of such units to whom the company owe a sum exceeding Rs.0.01 which is outstanding for more than 30 days are as follows:- a) Jhunjhunwala Oils Mill Ltd. (b) M.V.Foils & Packaging (c) Vandana Packaging Pvt. Ltd. (d) Spack Laminators Pvt. Ltd.

10 Preferential Warrant -

The Company Has issued 40,00,000 Preferential Warrants @ Rs.190/- each against which received application money of Rs.19.00 Crores. Warrant is convertible into equity share of Rs.10/-each at a premium of Rs.180/- each with in a period of 18 months from the date of allotment. The allotment of preferential warrants will be made on receipts of necessary approvals from the stock exchange. However the equity shares has been splitted into Rs.1/- each and accordingly 40,000,000 Preferential warrants will be issued @ 19/- each.

11. Term Loan Payable within one year is Rs.18.05 Crores (Rs.14.20 Crores)

12. Segment reporting

The company's present operations are related to production of Vanaspati & Refined oil, Mustard oil, DOC and Trading of goods.

The entire income of the company are mainly in India, hence there is no reportable geographical segments. Vanaspati & Refined oil, Edible Oils are the primary segment of the company and there is no secondary segment.

---

Mar 31, 2010

NOt Available