EXCEL CROP CARE LIMITED C O N T E N T S - BSE

SCHEDULE ‘T’ — (Cont’d.)
NOTES TO ACCOUNTS
EXCEL CROP CARE LIMITED
SCHEDULE FORMING PART OF THE BALANCE SHEET AND THE PROFIT AND LOSS ACCOUNT
48
As at 31st
March, 2011
(` in lacs)
As at 31st
March, 2010
(` in lacs)
3. Contingent Liabilities:
(a) Disputed Excise-duty liability 4.40 2.77
(b) Disputed Service-tax liability 36.05 34.45
(c) Disputed Income-tax liability 1,20.79 1,05.38
(d) Disputed Sales-tax liability 73.18 11.57
(e) Guarantees given by the Company 51.15 79.46
(f) Liability in respect of employee(s) disputes Amount
Amount
unascertainable unascertainable
(g) Claims against the Company not acknowledged as debts 44.23 19.86
4. Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) 9,06.27 1,39.34
5. On a writ petition filed by Democratic Youth Federation of India against the Union of India and State Governments
seeking a ban on Endosulfan (a major product of the Company) citing health concerns, the Hon’ble Supreme
Court opined that a detailed study on an all India basis needed to be undertaken by an Expert Committee to
address the said health concerns. By an ad-interim order passed on 13th May, 2011, the Hon’ble Supreme
Court has appointed a Joint Committee headed by the Director General of Indian Council of Medical Research
and the Commissioner (Agriculture) to conduct a scientific study and submit its interim report within eight
weeks. Pending submission of the interim report, the order bans the production, use and sale of Endosulfan
all over India till further orders.
In compliance with the ad-interim order of the Hon’ble Supreme Court, the Company immediately suspended
production and sale of Endosulfan. Out of abundant caution, a provision of ` 10,20.00 lacs has been made in
respect of the inventory items relating to Endosulfan as at 31st March, 2011.
6. The Company has 50% ownership interest in M/s. Multichem Industries, a partnership firm registered in India.
The proportionate interest of the Company in the said entity as per the latest Balance Sheet as at 31 March
2011 is as under:
Assets 2.20 2.16
Liabilities 2.20 2.16
Income — —
Expense 0.02 0.01
7. Details of dues to Micro and Small Enterprises: Current Year Previous Year
The amount due to Micro and Small Enterprises as defined in the “The Micro, Small and Medium Enterprises
Development Act, 2006” (MSMED Act, 2006) has been determined to the extent such parties have been identified
on the basis of information available with the Company. The disclosures relating to the suppliers as defined in
the MSMED Act, 2006 are as under:
(` in lacs) (` in lacs)
(a) The principal amount remaining unpaid to suppliers as at the end of accounting year 2,44.45 1,96.94
(b) The amount of interest due thereon remaining unpaid as at the end of the accounting year — 0.03
(c) The amount of interest paid in terms of Section 16 along with amount of payment made to the suppliers
beyond the appointed date during the year
— —
(d) 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 without adding interest specified under this Act)
0.61 9.30
(e) The amount of interest accrued during the year and remaining unpaid at the end of the accounting year 0.61 9.33
As at 31st
As at 31st
March, 2011 March, 2010
(` in lacs) (` in lacs)
8. Break up of Deferred Tax Assets and Deferred Tax Liabilities:
(a) Deferred Tax Assets:
(i) Liabilities Allowable on Payment basis 2,92.64 2,06.76
(ii) Provision for Doubtful Debts 1,31.91 97.29
(iii) Provision for Inventory 3,30.94 —
7,55.49 3,04.05
(b) Deferred Tax Liabilities:
Depreciation 16,84.20 16,80.85