Amal Ltd 2012-13

53 Notes to financial statements ( in ‘ 000) Sr Particulars As at As at No March 31, 2013 March 31, 2012 ` (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; (d) The amount of interest accrued and remaining unpaid at the - - end of accounting year; and 31. LEASE 32. GOINGCONCERN 33. MICRO,SMALLANDMEDIUMENTERPRISEDUES The Company has taken land on cancellable lease at Atul from M/s Atul Ltd for 97 years from February 3, 1996 on annual lease rent of 8,000/-. 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 18, 2010. Relevant adjustments as required by the scheme including recasting of creditors hadbeen carriedout inbooks 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 Company has revised the DRS with cut-off date as March 31, 2013 and the same is under review with BIFR for approval. The DRS envisages revival plan which is a multi faceted approach for improving the operational and financial strength of the Company.Themanagement believes that DRSwill 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 expansionof SulphuricAcidplant at Ankleshwar from120TPD to 140TPD. In viewof abovedevelopments,the accounts havebeenpreparedona going concernbasis. 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. ` `