50
th
ANNUAL REPORT 2015-2016 THE GEM & JEWELLERY EXPORT PROMOTION COUNCIL
98
THE GEM & JEWELLERY EXPORT PROMOTION COUNCIL
(A COMPANY LIMITED BY GUARANTEE AND NOT HAVING SHARE CAPITAL)
NOTES TO THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2016
As at
As at
31.03.2016
31.03.2015
Rupees
Rupees
Rupees
THE GEM & JEWELLER EXPORT PROMOTI N COUNCIL
( A COMPANY LIMITE BY GUARANTEE AND NOT HAVING SHARE CAPITAL )
NOTES TO THE STANDALONE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2016
NOTES :
1
2
3 Interest free moratorian period of 3 years i.e. upto March, 2013.
4 Interest payable @ 6 % p.a. with effect from 1st April, 2013.
5 Other Particulars - Refer Note No." 35" herein
6
5 SHORT TERM BORROWINGS :
Short Term Secured Loan
(Due within one year
)
National Skill Development Corporation (NSDC)
(Refer Note No. "4" above)
(Refer Note No."35")
42,06,000
20,40,000
Deposits
Others
5,61,055
3,55,000
Other Loans & Advances
Advances from Debtors ( Exhibitors)
15,04,51,653
20,48,33,775
15,52,18,708
20,72,28,775
6 TRADE PAYABLES :
Membership Fees Refundable
12,09,343
10,28,829
Sundry Creditors
8,95,89,165
5,85,27,767
9,07,98,508
5,95,56,596
7 OTHER CURRENT LIABILITIES :
Grant In Aid Refundable :
MDA Small Exporters' Scheme
-
20,23,785
MDA Code Scheme
-
94,77,305
MAI Scheme for the year 2015-2016
1,48,00,000
80,00,000
ASIDE Scheme for IIGJ New Delhi for the year 2015-2016 (Refer Note No.
"1"below)
2,32,00,000
2,32,00,000
ASIDE Scheme for 5th Year Plan Project (CFC)
48,00,000
Income tax Deducted at Source (TDS) Payable
53,37,599
1,10,35,347
Other Statutory Liabilities
17,800
79,602
Book Overdraft with Scheduled Banks due to issuance of cheques
3,42,29,537
9,56,37,284
Outstanding Liabilities for expenses
1,27,50,847
1,44,82,050
Provisiion for CSR Expenses
1,07,14,781
-
Notes:
10,58,50,564
16,39,35,373
1
9 NON CURRENT INVESTMENTS :
Trade Investments, Unquoted (At Cost)
51,00,000
51,00,000
1,25,00,000
1,25,00,000
1,76,00,000
1,76,00,000
5,10,000 Equity Shares of Rs. 10 each, fully paid up of National Skill
Development Corporation Ltd.
12,50,000 Equity Shares of Rs. 10 each, fully paid up of The Gem & Jewellery
Skill Council of India Ltd.
Secured by Irrevocable and Unconditional Bank Guarantee for a sum of Rs
1,33,07,435 (Rupees One Crores Thirty three Lacs Seven Thousand Four
Hundred Thirty Five Only) furnished by the Council in favour of NSDC.
Repayable in 84 Equated Monthly Installments (EMI) commencing with
effect from April, 2013. Repayment during the year :
Rs.20,40,000
(2014-15 :
Rs.19,22,000)
The Council has received grant of
Rs. 2,80,00,000
(2014-2015: Rs.
2,32,00,000) under Assistance to States for Developing Export Infrastructure
& Allied Activity (ASIDE) Scheme from the Government of India. This grant
is required to be utilised not later than 31st March, 2016. Pending such
utilisation the same has been included under the head 'Other Current
Liabilities'.
Effective 1st April,, 2015, the responsibility /liability towards repayment of
the loan and payment of interest rests with IIGJJ. However, IIGJJ has
defaulted in payment and has requested the Council for providing funds for
the purpose. The matter is under consideration by the Council. Accordingly
provision has been made in the accounts of IIGJJ, for Interest payable for the
year 2015-16.
Add:- Surplus as per Annexed Statement of Income and Expenditure
35,85,71,085
26,39,59,397
1,84,73,29,068
1,49,12,54,216
-
24,96,233
1,84,73,29,068
1,48,87,57,983
2,12,39,80,011
1,77,09,50,200
4
Financial Assistance provided by
National Skill Development Corporation (NSDC)
73,35,000
95,01,000
73,35,000
95,01,000
Less: Retained Earnings (Due to Depreciation as per Schedule II of Companies
Act 2013)
for Indian Institute of Gems and Jewellery at Jaipur (IIGJ)-
(Refer Note No. "35")
SECURED LOANS :
