JAYANT AGRO Notes to Accounts

1: Capital Commitment


Estimated amount of contracts remaining to be executed on capital accounts amounted to Rs.7,411,294/- (PY Rs.6,781,463/-). Note 34: Micro, Small and Medium Enterprises Dues


The Company is in the process of identifying the Micro, Small and Medium Enterprises as defined under the ''''The Micro, Small and Medium Enterprises Development Act, 2006.'''' However, based on the information so far available with the Company, the Company has no dues to micro and small enterprises during the year ended March 31, 2017.


Gratuity


The Company operates a gratuity plan covering qualifying employees. The benefit payable is the greater of the amount calculated as per the Payment of Gratuity Act or the Company scheme applicable to the employee. The benefit vests upon completion of the five years of continuous service and once vested is payable to employee on retirement or on termination of employment. The Company makes annual contribution to the gratuity scheme administered by the Life Insurance Corporation of India through its Gratuity Trust Fund.


2. Related Party disclosures (As identified by the Management)


Related party disclosures as required by Accounting Standard 18, "Related Party Disclosures", issued by the Institute of Chartered Accountants of India are given below:-


3. Related Parties and their relationship i. Holding Company


Jayant Finvest Limited


4. Subsidiary companies


Ihsedu Agrochem Private Limited


Ihsedu Coreagri Services Private Limited


Ihsedu Itoh Green Chemicals Marketing Private Limited


5. Joint Venture


Vithal Castor Polyols Private Limited


6. Entities Controlled by Directors and Relatives


Enlite Chemical Industries Limited Gokuldas K. Udeshi Investment Innovative Micro Systems Private Limited Gokulmani Agricom Limited Akhandanand Engineering & Trading Company


7. Key Management Personnel


Mr.Abhay V Udeshi Chairman


Mr. Hemant V. Udeshi Managing Director


Dr. Subhash V. Udeshi Whole-time Director


Mr. Varun A. Udeshi (from July 23, 2016) Whole-time Director


Mr. Vikram V. Udeshi Chief Financial Officer


Mr. Dinesh M. Kapadia Company Secretary


vi. Relative of Key Management Personnel


Mr. Sudhir V. Udeshi Mrs. Trupti A. Udeshi Mr. Dhayvat H. Udeshi


Mr. Varun A. Udeshi (up to the date of becoming Director)


8: During the year 2014-15, pursuant to Joint Venture Agreement, the company has subscribed to 36,000,000 share warrants of Rs.5 each issued by Vithal Castor Polyols Pvt. Ltd. a joint venture of the company. These warrants entitles company to subscribe 36,000,000 equity shares of Rs.5 each fully paid upon payment at any time after the period of 7 years but on or before 20 years from the date of issue of warrants made by the said associated enterprise.


9: Long Term Derivative Contracts


The Company does not have any long term contracts or derivatives contract, which require provision of any foreseeable losses. Note 45: Investor Education and Protection Fund


The Company has transferred the amount, required to be transferred, of Rs.308,390 (PY Rs.374,871) to Investor Education and Protection Fund.


10: Interest income include an amount of Rs. Nil/- (PY Rs.19,164,860) received from Department of Commercial Tax in Gujarat as interest on VAT refunds.


11: Previous Year Figures


Previous year figures have been regrouped/reclassified wherever necessary to correspond with the current year''''s classification.


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.
“2019 © COPYRIGHT DYNAMIC EQUITIES PVT. LTD.”

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 compliance@dynamiclevels.com

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