Outstanding dues to Creditors:-
As per the Materiality Policy, our Board has approved that each creditor, to whom our Company individually owes a net aggregate amount that exceeds 5.00% of the trade payables as per the Restated Financial Statements for the most recent financial year, shall be considered as a material creditor of our Company. Our Board has also approved that dues owed by our Company to small scale undertakings as per the Restated Financial Statements for the most recent financial year shall be disclosed in a consolidated manner.
As of March 31, 2016, our Company, in its ordinary course of business, has an aggregate amount of Rs.1,166.90 lakhs, which is due towards sundry and other creditors. As per the above policy, consolidated information of outstanding dues, as at March 31, 2016, owed to small scale undertakings, material dues to creditors and other dues to creditors separately, giving details of number of cases and aggregate amount for such dues is as under:
Number of cases
Amount Outstanding (Rs.)
Dues to small scale undertakings
Material dues to creditors
Other dues to creditors
Details of Material Creditors whose outstanding is more than 5% of total creditors as on March 31, 2016
Name of the Creditor
SHREE KRISHNA ENTERPRISES
WEBSON INSUSTRIES LTD.