Amal Ltd 2017-18

85 Note 27 Going Concern (continued) abolished and the Sick Industrial Companies (Special Provisions) Act, 1985 is repealed. Pursuant to the same, all proceedings or appeals of whatever nature pending before BIFR | AAIFR have been abated. However, any scheme of revival, which has already been sanctioned by the BIFR in the past and is under implementation, will continue to be in force. Accordingly, the MS - 13 approved by BIFR in its meeting held on July 01, 2013 continues to be in place. In view of the above, books of account have been prepared on going concern basis. The merger scheme pending approval of BIFR, stands abated. Subsequently, the Board of Directors in its meeting held on March 24, 2017 decided not to proceed with the merger scheme. Note 28 Micro and small enterprise dues The Company has certain dues to suppliers (trade and capital) registered under Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act). The disclosures pursuant to the said MSMED Act are as follows: ( ` 000) Particulars As at March 31, 2018 As at March 31, 2017 Principal amount due to suppliers registered under the MSMED Act and remaining unpaid as at year end - - Interest due to suppliers registered under the MSMED Act and remaining unpaid as at year end - - Principal amounts paid to suppliers registered under the MSMED Act, beyond the appointed day during the year - - Interest paid, other than under Section 16 of MSMED Act, to suppliers registered under the MSMED Act, beyond the appointed day during the year - - Interest paid, under Section 16 of MSMED Act, to suppliers registered under the MSMED Act, beyond the appointed day during the year - - Interest due and payable towards suppliers registered under MSMED Act, for payments already made - - Further interest remaining due and payable for earlier years - - Note 29 Employee Benefit Obligation a) Defined contribution plans: i) Provident fund ii) State defined contribution plans Employers’ contribution to employees’ state insurance Employers’ contribution to employees’ pension scheme 1995 The provident fund and the state defined contribution plan are operated by the Regional Provident Fund Commissioner. Under the scheme, the Company is required to contribute a specified percentage of payroll cost to the retirement benefit scheme to fund the benefits. These funds are recognised by the income tax authorities.The Company’s contribution to the provident fund and other contribution plans for all employees is charged to the Statement of Profit and Loss. Notes to the Financial Statements