DOLLAR INDUSTRIES Notes to Accounts

1. Term /Rights, Preferences and Restrictions attached to the Equity Shares


The company has only one class of equity shares having a par value of Rs.10 per share which does not enjoy any preferential right or bear any restriction with regard to distribution of dividend or repayment of capital. Each holder of equity shares is entailed to one vote per share.


As per records of the Company, including i1s register of shareholders/members and other declarations received from shareholders regarding beneficial interest. the above shareholding represents both legal and beneficial ownership of shares.


2. Security


Loan from Bank and Financial Institutions for purchase of Fixed Assets are secured against the fixed assets purchased out of those loans.


3. Repayment Terns


4. Term Loan From Allahabad Bank is repayable in 24 equated qualify installments of Rs.1,02.00.000/= starting from 30.06.2011 and the last installment will be felling due on 30,06.2017.


5. Term Loan from ICJCI Bank is repayable in 20 equaled quarterly installments of Rs. 50,00.000/= starting from 19.08.2012 and the last installment will be falling due on 19.08.2017.


6. Term Loan from ICICI Bank is repayable in 15 equated quarterly Installments of Rs. 1,06,04,621/= starting from 30.04.2014 and the last installment will be falling due on 30.10.2017


7. Term Loan from ICICI Bank is repayable in 16 equated quarterly installments or Rs. 15,01,382/= starling from 30.04.2015 and the last installment will be falling due on 30.04.2018.


8. Term Loan from Yes Bank Ltd is availed to the tune of Rs. 3,44,57,606/= out of She iota I sanctioned loan or T 7,2&.00,000/=. The same shall be repaid as per the final repayments schedule to be fixed by the bank.


9. Term Loan from Allahabad Bank is Availed to the tone of Rs. 10,54,43,364/= out of the total sanctioned loan of Rs. 13,00,00,000/=. The same shall be repaid as per the final repayment schedule lo be fixed by the bank.


10. Term Loan from Daimler Financial Services (I) Pvt. Ltd ( NBFC) was repayable in 36 equated monthly installments of Rs.13,889/= starting foam 28.02.3014 and the Iasi installment will be falling due on 28.02.2017.


11. Term Loan from BMW India Financial Services Pvt Ltd (M8FC) is repayable in 36 equated monthly installments ofRs. 1,44,063/= starting from 15.11.2014 and the last installment will be falling due on 15.10.2017,


12. Unsecured Loans are repayable at the will of the management or lenders after three years from the date of receipt of such loan.


13. The applicable rate of interest on the above term loans during the year are


14. Term Loan f ram Allahabad Bank carries interest rate of 12,25% p ,a. on reducing balance basis.


15. Term Loan from ICIC f Bank Ltd carries interest rate of 13.50% p.a. on reducing balance basis.


16. Term Loan from ICICI Bank Ltd caries interest rate of 12.00% p .a. on reducing balance basis,


17. Term Loan from JCICI Bank Ltd carries interest rate of 12.00% p.a. on reducing balance basis.


18. Term Loan from Yes Bank Ltd caries interest rate of 11.60% p.a. on reducing balance basis.


19. Term Loan from Allahabad Bank carries interest rate Of 12.25%p,a. on reducing balance basis.


20. Term Loan from Daimler Financial Services(l) Pvt. Ltd (NBFC) is interest free.


21. Term Loan from BMW India Financial Services Pvt. Ltd {NBFC ) carries interest rate of 9.60% p. a, on reducing balance basis.


22. Unsecured Loans from Related Parties carries interest rate of 9% p.a.


23. The related party relationship is as identified by the Company and relied upon by the Auditors.


24. Transactions with related parties have been disclosed for the period of existence of relationship. Previous year transactions with parties that have ceased to be related parties in ''''the current year have been excluded in above details as the relationship did not exist.


25. Figures in bracket are those as at and far the year ended 31st March, 2014.


29. No employee of the company is in receipt of remuneration in excess of the amount specified U/s 134 of the Companies Act, 2013.


26. Provision is made for Income tax liability estimated to arise on the financial results for the year at the current rate of tax in accordance with the provisions of Income Tax Act, 1961.


27. Balances and transactions of parties appearing under the head Debtors, Creditors and Advances are subject to confirmations. In opinion of the Directors, Current Assets, Loans arid Advances have the value at which they are stated in the Balance Sheet it realized in the ordinary course of business. The provision for depreciation and other known liabilities are adequate and not in excess of the amount reasonably necessary.


28. The Company has not received any intimation from the ''''suppliers'''' under the Micro, Small and Medium Enterprises Development Act, 2006 and therefore disclosures, if any, relating to amounts unpaid as at the yearend together with interest paid/payable as required under the said Act have not been given.


29. The company has only one main business segment ’Hosiery Goods''''. Further, since virtually alt sates are effected in the domestic market, there is only one geographical segment. Therefore the disclosure requirements for'''' Segment Reporting" are not applicable to the company,


30. Comparative Financial information {i.e. the amounts and other disclosure for the preceding year presented above, is included as an inelegant part of the current year’s financial statements, and is to be react in relation to the amounts and other disclosures relating to the current year. Figures of the previous year are regrouped and reclassified wherever necessary to correspond to figures of the current year.


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. We also trade in NIFTY Options, Bank Nifty Options in our own account apart from, our Investment Advisory Division providing advisory services in NIFTY Options, Bank Nifty Options to clients as per the relevant Regulations. In case of any complaints/grievances, clients may write to us at compliance@dynamiclevels.com

  • Download our Mobile App
  • Available on Google Play
  • Available on App Store
  • RSS