Amal Ltd 2011-12

Amal Ltd | Annual Report 2011-12 c) Related party relationship is as identified by the Company on the basis of information available with them and relied upon by the Auditors. 30. Earning per Share Earning per Share (EPS) - The numerators and denominators used to calculate basic and diluted Earning per Share: Particulars March 31, 2012 March 31, 2011 Loss for the year attributable to the equity shareholders ( ` in ‘000) (32,146) (37,150) Basic | weighted average number of Equity Shares outstanding during the year Number 7,025,000 7,025,000 Nominal value of equity share ` 10 10 Basic Earning per Share ` (4.58) (5.29) Diluted Earning per Share ` (4.58) (5.29) 31. Lease The Company has taken land on lease at Atul from M/s. Atul Ltd. for 97 years from February 03, 1996 on annual lease rent of ` 8,000/-. 32. Going concern The Company was declared sick by Board of Industrial and Financial Reconstruction (BIFR) on July 20, 2006 and BIFR vide its order dated July 16, 2009 sanctioned the revival scheme for the Company which was further modified in June 2010. Relevant adjustments as required by the scheme including recasting of creditors had been carried out in books of account. Subsequently, the Appellate Authority of Industrial and Financial Reconstruction (AAIFR) vide its order dated March 22, 2011 allowed the appeal filed by one of the unsecured creditors and remanded the case back to the BIFR for considering revival scheme through operating agency. BIFR vide its order dated October 11, 2011 appointed IDBI bank as operating agency. IDBI has reviewed the Draft Rehabilitation Scheme (DRS) prepared by the Company and submitted the same to BIFR on February 16, 2012. The DRS envisages revival plan which is a multi faceted approach for improving the operational and financial strength of the Company. The management believes that DRS will further facilitate the revival and will have no adverse effects on the state of affairs of the company if approved as proposed. Consequential adjustments, if any, will be made in books of account upon approval of scheme by BIFR. Further, the Company has also completed its capacity expansion of Sulphuric Acid plant at Ankleshwar from 120 TPD to 140 TPD. In view of above developments, the accounts have been prepared on a going concern basis. 33. Micro, Small and Medium Enterprise dues Sundry creditors include ` Nil due to Micro, Small and Medium Enterprise. Following is the information, required to be furnished as per Section 22 of the Micro, Small and Medium Enterprise Development Act, 2006 ( ` in ‘000) Sr. No. Particulars As at March 31, 2012 As at March 31, 2011 (a) The principal amount and the interest due thereon remaining unpaid to any supplier at the end of each accounting year: Principal - - Interest - - (b) The amount of interest paid by the buyer in terms of Section 16 of the Micro, Small and Medium Enterprises Development Act, 2006, along with the amounts of the payment made to the suppliers beyond the appointed day during each accounting year. - - (c) The amount of interest due and payable for the period of delay in making payment (which have been paid but beyond the appointed day during the year) but with adding the interest specified under the Micro, Small and Medium Enterprises Development Act, 2006; - - Notes to financial statements for the year ended March 31, 2012