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Notes to Accounts of Anjani Foods Ltd.

Mar 31, 2014

1. Note:

Note: Section 205 of the Companies Act, 1956 mandates that companies transfer dividend/depoists that has been unclaimed for a period of seven years from unpaid dividend/deposit account to the Investor Education and Protection Fund (IEPF). Accordingly, if dividend/deposit is unclaimed for a period of seven years, it will be transferred to IEPF.

2. Estimated amount of contracts, remaining to be executed on Capital account and notprovided for (net of advances) Rs. Nil (Previous year Rs. Nil).

3. CONTINGENT LIABILITIES NOT PROVIDED FOR:

I. Disputed Income Tax demands year 1998-99 Rs. 6.80 lakhs towards in respect of which company has filed an appeal with Commissioner Income Tax (Appeals).

II. Disputed Income Tax Liability for A.Y.2004-05 Rs. 9.78 lakhs towards lease income from buildings in respect of which the company has filed an appeal with Commissioner Income Tax (Appeals).

4. During the year the Company has sold some of the fixed assets for Rs. 5.50 Crores where book value is Rs. 5.92 Crores resulting in a loss of Rs. 0.43 Crores which is shown as exceptional item in the profit and loss account. The Company''s Subsidiary has made a turnover of Rs. 22.34 crores during the financial year 2013-14. The Company has initiated the merger process to merge the subsidiary company. In order to meet the growing demands of food industry, the Company has acquired 5.5 acres of additional land beside the existing facilities of the subsidiary company. Further the Company has plans to start a huge food park which includes manufacturing of bakery products, milk products and short eats etc.,

5. Balances with Scheduled Banks, Loans & Advances, and unsecured loans aresubject to confirmation and reconciliation.

6. The Company has made relevant disclosures which are applicable as per revised schedule VI and the figures for the previous years are reclassified/regroupedand rearranged wherever necessary.


Mar 31, 2013

1. Estimated amount of contracts, remaining to be executed on Capital account and not provided for (net of advances) Rs.Nil (Previous year Rs.Nil).

2. CONTINGENT LIABILITIES NOT PROVIDED FOR:

I. Disputed Income Tax demands year 1998-99 Rs.6.80 lakhs towards in respect of which company has filed an appeal with Commissioner Income Tax (Appeals).

II. Disputed Income Tax Liability for A.Y.2004-05 Rs.9.78 lakhs towards lease income from buildings in respect of which the company has filed an appeal with Commissioner Income Tax (Appeals).

3. Aggregated Related Party Disclosures Related Parties

Enterprises owned or significantly influenced by Key Management personnel or relatives

- Anjani Portland Cement Limited

- Sri Vishnu Educational Society

- Dr.B.V.Raju Foundation Subsidiary Company

- Sai Aditya Foods and Retail Private Limited Key Management Personnel

Shri K.V.Vishnu Raju - Chairman

Shri R.Ravichandran - Whole Time Director

Shri S.Ram Kumar - Director

Shri P.V.R.L.Narasimha Raju - Director

Shri K.Hari Babu - Director

4. Balances with Scheduled Banks, Loans & Advances, and unsecured loans are subject to confirmation and reconciliation.

5. The Company has made relevant disclosures which are applicable as per revised schedule VI and the figures for the previous years are reclassified / regrouped and rearranged wherever necessary.


Mar 31, 2012

Notes :

a) The term loan from Indian Overseas Bank, Bhimavaram Branch, is secured against the Lease Rentals receivable on the buildings let out to Sri Vishnu Educational Society, Bhimavaram. Further they are secured by equitable mortgage on land and building situated at Bhimavaram. Sri K.V. Vishnu Raju, Chairman of the Company in his personal capacity and Sri Vishnu Educational Society stood as guarantors for the said loan.

b) Terms of Repayment

Loans taken from Indian Overseas Bank is repayable in 81 Equated Monthly Installment of Rs.7,49,696/- each commencing from April 2011; Interest @13.25%.

Note:

Section 205 of the Companies Act, 1956 mandates that companies transfer dividend/depoists that has been unclaimed for a period of seven years from unpaid dividend/deposit account to the Investor Education and Protection Fund (IEPF). Accordingly, if dividend/deposit is unclaimed for a period of seven years, it will be transferred to IEPF.

1. Estimated amount of contracts, remaining to be executed on Capital account and not provided for (net of advances) Rs.Nil (Previousyear Rs.Nil).

2. CONTINGENT LIABILITIES NOT PROVIDED FOR:

I. Disputed Income Tax demands year 1998-99 Rs.6.80 Lakhs towards in respect of which company has filed an appeal with Commissioner Income Tax (Appeals).

II. Disputed Income Tax Liability for A.'Y.2004-05 Rs.9.78 takhs towards lease income from buildings in respect of which the company has filed an appeal with Commissioner Income Tax (Appeals).

3. Aggregated Related Party Disclosures Related Parties

Enterprises owned or significantly influenced by Key Management personnel orrelatives

- Anjani Portland Cement Limited

- Sri Vishnu Educational Society

- Dr.B.V.Raju Foundation Subsidiary Company

- Sai Aditya Foods and Retail Private Limited Key Management Personnel

Shri K.V.Vishnu Raju - Chairman

Shri R.Ravichandran - Whole Time Director

Shri S.Ram Kumar - Director

Shri P.V.R.L.Narasimha Raju - Director

Shri K.Hari Babu - Director

4. Balances with Scheduled Banks, Loans & Advances, and unsecured loans are subject to confirmation and reconciliation.

5. The Company has made relevant disclosures which are applicable as per revised schedule VI and the figures for the previous years are reclassified / regrouped and rearranged wherever necessary.


Mar 31, 2011

1. Estimated amount of contracts, remaining to be executed on Capital account and not provided for (net of advances) Rs. Nil (Previous year Rs. Nil).

2. CONTINGENT LIABILITIES NOT PROVIDED FOR:

i) Disputed Income Tax demands year 1 998-99 Rs. 6.80 lakhs towards in respect of which company has filed an appeal with Commissioner Income Tax (Appeals).

ii) Disputed Income Tax Liability for A.Y.2004-05 Rs. 9.78 lakhs towards lease income from buildings in respect of which the company has filed an appeal with Commissioner Income Tax (Appeals).

3. Buildings situated at Bhimavaram, W.G.District are constructed on a land belonging to Sri Vishnu Educa- tional Society, a society registered under the Public Registration Societies Act, 1 860.

4. Aggregated Related Party Disclosures Related Parties

5. The term loan from Indian Overseas Bank, Bhimavaram Branch, is secured against the Lease Rentals receiv- able on the buildings let out to Sri Vishnu Educational Society, Bhimavaram. Further they are secured by equitable mortgage on land and building situated at Bhimavaram. Sri K.V.Vishnu Raju, Chairman of the Company in his personal capacity and Sri Vishnu Educational Society stood as guarantors for the said loan.

6. Deferred Tax Asset / Liability:

In accordance with Accounting Standard 22 "Accounting for taxes on Income" issued by the companies (Accounting Standards) Rules 2006.

7. Balances with Scheduled Banks, Loans & Advances, and unsecured loans are subject to confirmation and reconciliation.

8. Previous year's figures have been re-grouped / reclassified wherever necessary to conform to the current year's classification.


Mar 31, 2010

1. CONTINGENT LIABILITIES NOT PROVIDED FOR:

i) Disputed Income Tax demands year 1998-99 Rs. 6.80 lakhs (previous year Rs.6.80 lakhs). ii) Disputed Income Tax Liability for A.Y.2004-05 Rs.9,77,706/- towards lease income from buildings in respect of which the company has filed an appeal with Commissioner Income Tax (Appeals).

2. The company has been advised that its present practice of recognizing income on rentals though presently disputed by Income Tax Department will ultimately be decided in favour of the Company.

3. Buildings situated at Bhimavaram, W.G.District are constructed on a land belonging to Sri Vishnu Educational Society, a society registered under the Public Registration Societies Act, 1 860.

4. Aggregated Related Party Disclosures Related Parties

Enterprises owned or significantly influenced by Key Management personnel or relatives

- Anjani Portland Cement Limited

- Sri Vishnu Educational Society

- Dr.B.V.Raju Foundation

- Hitech Print Systems Limited

Subsidiary Company

- Sai Aditya Foods and Retail Private Limited

Key Management Personnel

Shri K.V.Vishnu Raju - Chairman

Shri R.Ravichandran - Whole Time Director

Shri B.V.N.Satyanarayana Raju - Director

Shri S.Ram Kumar - Director

Shri P.V.R.LNarasimha Raju - Director



5. Balances with Scheduled Banks, Loans & Advances, Unsecured loans and Creditors are subject to confirmation and reconciliation.

6. The term loan from Indian Overseas Bank, Bhimavaram Branch, is secured against the Lease Rentals receivable on the buildings let out to Sri Vishnu Educational Society, Bhimavaram. Further they are secured by equitable mortgage on land and building situated at Bhimavaram. Sri K.V.Vishnu Raju, Chairman of the Company in his personal capacity and Sri Vishnu Educational Society stood as guarantors for the said loan.

7. Deferred Tax Asset / Liability:

In accordance with Accounting Standard 22 "Accounting for taxes on Income" issued by the Institute of Chartered Accountants of India, the company has a Net Deferred Tax Liability aggregating to Rs.55,80,362/ - (Previous Year Net Deferred Tax Liability Rs.41,68,998/-).

8. Previous years figures have been re-grouped / reclassified wherever necessary to conform to the current years classification.

 
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