NELCAST Notes to Accounts

1. Term Loans from Banks are secured by equitable mortgage of land, building and hypothecation of plant and machinery present and future. Working Capital Loan is fully secured by hypothecation of raw materials, stocks in process, finished goods, stores and book debts.


Claims against the company not acknowledged as debts represent demands raised by central excise and sales tax authorities, as reduced by the amounts paid by the Company. Against these demands the Company has already filed appeals with concerned appellate authorities. As per the experts’ opinion these disputed matters are likely to be decided in Company’s favour and as such the management believes the ultimate outcome of the proceedings will not have a material adverse effect on the Company’s financial position and results of operations.


2. DETAILS OF SPECIFIED BANK NOTES (SBN) AND OTHER DENOMINATION NOTES HELD AND TRANSACTED FROM 8lh NOVEMBER 2016 TO 30lh DECEMBER 2016:


3. Amount payable to Micro, Small and Medium Enterprises (MSMEs) as defined under the Micro Small and Medium Enterprises Development Act, 2006 is Rs, 50.04 Lakhs as on 31st March 2017 (Previous Year: Rs, 149.20 Lakhs) and there is no overdue amount.


4. INTERIM FINANCIAL REPORTING


The Quarterly financial results are published in accordance with the requirements of Listing Regulations with Stock Exchanges.


5. RELATED PARTY DISCLOSURE


As identified by the Management and relied upon by the auditors


(a) List of Related Parties (2016-17)


Subsidiary Company:- NC Energy Limited


Associate Company:- Nelcast USA INC


Key Management Personnel (KMP):-1. Mr. P. Deepak, Managing Director


2. Ms. P. Divya, Director


3. Mr. P. Vijaya Bhaskar Reddy, Dy. Managing Director & CFO


(b) List of Related Parties (2015-16)


Subsidiary Company:- NC Energy Limited


Associate Company:- Nelcast USA INC


Key Management Personnel (KMP):-1. Mr. P. Deepak, Managing Director


2. Ms. P. Divya, Director


3. Mr. P. Vijaya Bhaskar Reddy, Dy. Managing Director & CFO


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


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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