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Linaks Micro Electronics Ltd. Notes to Accounts
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You can view the entire text of Notes to accounts of the company for the latest year
Market Cap. (Rs.) 1.85 Cr. P/BV -0.08 Book Value (Rs.) -13.83
52 Week High/Low (Rs.) 1/1 FV/ML 1/1 P/E(X) 0.00
Bookclosure 30/11/2020 EPS (Rs.) 0.00 Div Yield (%) 0.00
Year End :2014-03 
1. Related Party Disclosure

1. Party where control exists:

Linaks Pressings, Raebareli - No transaction during the year.

2. Other related Parties with whom transactions have taken place - NIL

3. Directors.

Shri Anil Kumar Singh Managing Director

Shri Udayan Singh,

Shri Siddharth Singh Dr. Gautam Singh Mr. U.B. Singh

No remuneration is paid to any of the Whole Time Directors. However, Rs240000/- has been paid to M.D.

2. LIQUIDATED DAMAGES:

Liquidated Damages on late deliveries are accounted for only when they are finally not recoverable inspite of Company's best efforts.

3. i. No interest is provided on Funded CST and UPTT and statutory dues of PF & ESI in view of sanctioned rehabilitation scheme.

ii) No provision is made for loss on account of discarded /obsolete Plant and Machinery pending completion of transition period .

iii. No Provision is made for loss due to diminution in value of inventory pending completion of transition period.

iv. Due to financial crunch the company was not regular in depositing old PF dues of Rs. 3.54 lac previous year Rs. 10.50 lac. However, upto date payments of ESI has been paid by the company. No provision for gratuity has been made and will be paid as and when becomes due.

4. CONTINGENT LIABILITIES:

i. Estimated amount of contracts remaining to be executed on Capital Account NIL. (Previous year NIL)

ii. Outstanding Letters of Credit Rs. NIL Lac (Previous year Rs. NIL)

iii. Outstation Cheques purchased by bank but not cleared till the date of Balance Sheet Rs. Nil (Previous Year Rs. Nil Lac).

iv. No demand for Income Tax is pending.

v. Disputed demand for Rs.63.35 lac (Previous Year 63.35lacs) excluding Interest, for Sales Tax, is in appeal and pending before different authorities.

5. Dues towards SSIs for Rs 1 lac or more outstanding for more than 30 days are not ascertainable as the suppliers have not furnished their SSI registrations.

6. Details of litigated Sales Tax assessments under appeal and finalistaion

7. Previous year figures have been regrouped and rearranged where ever required to make it comparable with current period's figures.


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