BALAJI AMINES Notes to Accounts

B. Contingent Liabilities:

Disputed demands

A. Under the Income Tax Act, l96l: Rs.l7.60 Lakhs (relating to Assessment Year 20l3-l4) and Rs.23l.08 Lakhs (relating to Assessment Year 20l4-l5) in respect of additions made in assessment under section l43(3) of the Income Tax Act, l96l and disputed in appellate proceedings. The appeals are pending before the Commissioner of Income Tax (Appeals) 7 Pune. The company has deposited an amount of Rs.2.64 Lakhs and Rs.34.66 Lakhs respectively against the said demands and obtained stay of collection of the balance disputed demand till disposal of the appeal. The above referred tax payments are grouped under the head "Short term loans and advances"

B. Service Tax: Rs.l66.l6 Lakhs. The matter is pending in appeal before the First Appellate Authority, viz., Commissioner of Central Excise, Customs and Service Tax (Appeals). An amount of Rs.l2.47 Lakhs has been deposited against this disputed demand. This amount is grouped under the head "Short term loans and advances"

C. Amounts recoverable from employees

The company has an arrangement with the supplier of coal for supply of coal in specified consignments on a periodic basis. Few consignments aggregating to the value of Rs.3l.7l lacs have been misappropriated, while in transit, by 2 employees of the company during the year ended March 3l, 20l5. The services of the said employees have been terminated in that year itself and legal action against initiated on these employees including action for the recovery of the above mentioned amounts. Pending recovery the amounts are shown under short term advances.

D. Segment Reporting:

The company operates in two segments viz., (a) Amines & Specialty Chemicals and (b) Hotel segment.

E. Expenditure on Corporate Social Responsibility (CSR):

The company has incurred an expenditure of Rs.I34.96 Lakhs on Corporate Social Responsibility initiatives in accordance with the provisions of Section I35 of the Companies Act, 20I3. The details of the projects on which the amounts are expended by the company on account of Corporate Social Responsibility are given in Note.26.

F. Related Party transactions:

e. Restriction on disbursement of Dividend

As part of the general terms & conditions in respect of borrowings from Banks, prior permission should be taken from the lending Banks before distribution of dividend. Similarly, the term lenders have imposed a condition that, no dividend shall be declared in the event of default in the scheduled repayment of installment.

f. Particulars of each shareholder holding more than 5% of share capital

CIN: U67190WB2003PTC096617. Trading in Commodities is done through our Group Company Dynamic Commodities Pvt. Ltd. The company is also engaged in Proprietory Trading apart from Client Business.

Disclaimer: There is no guarantee of profits or no exceptions from losses. The investment advice provided are solely the personal views of the research team. You are advised to rely on your own judgment while making investment / Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. You should read and understand the Risk Disclosure Documents before trading/Investing.

Disclosure: We, Dynamic Equities Private Limited are also engaged in Proprietory Trading apart from Client Business. In case of any complaints/grievances, clients may write to us at

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