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Notes to Accounts of Arcotech Ltd.

Mar 31, 2018

(In Lacs,INR)

31 Related Party Disclosures

a) Name of the related party and nature of relationship, where control exists

Name of related party Nature of relationship

Sidhant distributors pvt ltd Shareholder

There were no transactions with the related party during the year.

b) Name of the related party and nature of relationship, where there are transactions :Key management personnel

Mr. R N Pattanayak Whole time director

Mr. Krishan Kumar Mishra Company secretary

Mr. Akshaya Kumar Biswal Chief financial officer

(appointed w.e.f 27.11.2017)

Mr. Amit Sharma Chief financial officer

(resigned w.e.f 13.02.2017)

34 As per the information available with the Company, no transaction have been entered with suppliers as defined under the Micro, Small and Medium Enterprises Development Act, 2006. Therefore, no disclosure are made as required under the said Act.

The Company has compiled this information based on intimations received from the suppliers of their status as Micro or Small Enterprises and / or its registration with the appropriate authority under the Micro, Small and Medium Enterprises Development Act, 2006.

36 Previous years figures have been recast, re-classified, re-grouped wherever considered necessary.

(In Lacs,INR)

37 Figures in these financial statements are in lacs unless otherwise stated.

38 Financial risk management

Company''s business activities are exposed to a variety of financial risks, namely credit risk, interest risk, liquidity risk, market risk.

a) Credit risk

Credit risk is the risk that counter party will not meet its obligation under financial instrument or customer contract, leading to a financial loss. The Company is exposed to credit risk primarily from trade receivables, other receivables, deposits with banks.

Credit risk management for trade receivables

The customer credit risk is managed subject to the company''s established policy, procedure and controls relating to customer credit risk management. In order to contain the business risk, prior to acceptance of an order from a customer, the creditworthiness of the customer is ensured through scrutiny of its financials, if required, market reports, past experience and other factors. The Company remains vigilant and regularly assesses the financial position of customers during execution of contracts with a view to limit risks of delays and default. In view of the industry practice, credit risks from receivables are well contained on an overall basis.

The impairment analysis is performed at each reporting date on an individual basis for major clients. In addition, a large number of minor receivables are grouped into homogeneous groups and assessed for impairment collectively. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets as disclosed

The management does not expect any losses from non-performance of the above assets. The maximum exposure to credit risk at the reporting date is the carrying value of each class of financial assets disclosed in note no 8,9,10.

b) Liquidity risk

Liquidity risk is the risk that the Company will face in meeting its obligations associated with its financial liabilities. The Company''s approach in managing liquidity is to ensure that it will have sufficient funds to meet its liabilities when due without incurring unacceptable losses. In doing this, management considers both normal and stressed conditions.

The Company''s principal sources of liquidity are cash and cash equivalents and the cash flow that is generated from operations

c) Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market prices comprise three types of risk: Foreign currency rate risk, Interest rate risk, and other price risk.

Foreign currency risk:

The Company is exposed to foreign exchange risk arising from various currency exposures. Foreign exchange risk arises from future commercial transactions, recognized assets and liabilities denominated in a currency that is not the entity''s functional currency.

The Company is not exposed to significant foreign currency risk as at the respective reporting dates.

Interest rate risk:

Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate due to changes in market interest rates. The Company''s exposure to the risk of changes in interest rates relates primarily to the Company''s debt obligations with floating interest rates.

The company''s interest rate risk arises due to debt obligation and restricted deposit with bank. The exposure to interest risk is between 11% to 15% p.a. and in relation to restricted deposits is between 6% to 7%. These deposits are earnest money deposit issued by bank on behalf of the company. Restriction on such deposits is realized on the expiry of terms of respective arrangements.

The Company is not exposed to significant interest rate risk as at the respective reporting dates.

Price risk

The Company is mainly exposed to the price risk due to its investment in mutual funds. The price risk arises due to uncertainties about the future market.values of these investments"

The Company is not exposed to significant price risk as at the respective reporting dates.

d) Capital management

The Company''s objectives when managing capital is to provide maximum returns to shareholders, benefits to other stakeholders and to maintain an optimal capital structure to reduce the cost of capital. The Company manages its capital structure and makes adjustments in light of changes in economic conditions.

The gearing ratio is calculated as net debt divided by total capital. Net debt is calculated as total borrowings less cash and cash equivalents. Total capital is calculated as equity as shown in the balance sheet plus all other equity reserves attributable to equity holders of the Company.

The management assessed that cash and cash equivalents, trade receivables, trade payables and other financial instruments approximate their carrying amounts largely due to the short term maturities of these instruments.

(ii) Fair value hierarchy

This section explains the judgments and estimates made in determining the fair values of the financial instruments that are recognized and measured at fair value. To provide an indication about the reliability of the inputs used in determining fair value, the Company has classified its financial instruments into the three levels prescribed under the accounting standard. An explanation of each level follows underneath the table.

Financial assets and liabilities measured at fair value - recurring fair value measurements

Level 1: Level 1 hierarchy includes financial instruments measured using quoted prices.

Level 2: The fair value of financial instruments that are not traded in an active market is determined using valuation techniques which maximize the use of observable market data and rely as little as possible on entity-specific estimates. If all significant inputs required to fair value an instrument are observable, the instrument is included in level 2.

Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is included in level 3.

(iii) Valuation technique used to determine fair value

Specific valuation techniques used to value financial instruments include:

- the fair value of the mutual funds is determined using daily NAV as declared for the particular scheme by the Asset Management Company. The fair value estimates are included in Level 2.

40 Employee Benefit Plans 1 Defined benefits plans

The Company has a defined benefit gratuity plan . The Company''s defined benefit gratuity plan is a final salary plan for employees, which requires contributions to be made to a separately administered fund.

The gratuity plan is governed by the Payment of Gratuity Act, 1972. Under the act, employee who has completed five years of service is entitled to specific benefit. The level of benefits provided depends on the member''s length of service and salary at retirement age.

Risk exposure:

Valuations are based on certain assumptions, which are dynamic in nature and vary over time. As such company is exposed to various risks as follow -

Salary Increases: Actual salary increases will increase the Plan''s liability. Increase in salary increase rate assumption in future valuations will also increase the liability.

Investment Risk: If Plan is funded then assets liabilities mismatch & actual investment return on assets lower than the discount rate assumed at the last valuation date can impact the liability.

Discount Rate: Reduction in discount rate in subsequent valuations can increase the plan''s liability.

Mortality & disability: Actual deaths & disability cases proving lower or higher than assumed in the valuation can impact the liabilities.

Withdrawals: Actual withdrawals proving higher or lower than assumed withdrawals and change of withdrawal rates at subsequent valuations can impact Plan''s liability.

41 First time adoption of Ind AS

These financial statements, for the year ended March 31, 2018, are the first the Company has prepared in accordance with Ind AS. For periods up to and including the year ended March 31, 2017, the Company prepared its financial statements in accordance with Accounting Standards notified under Section 133 of the Companies Act 2013, read together with paragraph 7 of Companies (Accounts) Rules, 2014 (Indian GAAP).

Accordingly, the Company has prepared financial statements that comply with Ind AS applicable for the year ending March 31, 2018, together with the comparative period data as at and for the year ended March 31, 2017.In preparing these financial statements, the Company''s opening balance sheet was prepared as at April 1, 2016, the Company''s date of transition to Ind AS. This note explains the principal adjustments made by the Company in restating its Indian GAAP financial statements, including the balance sheet as at April 1, 2016 and the financial statements as at and for the year ended March 31, 2017.

Ind AS 101 allows first-time adopters certain exemptions/ exceptions from the retrospective application of certain requirements under Ind AS. The Company has applied the following exemptions:

Estimates: An entity''s estimates in accordance with Ind ASs at the date of transition to Ind AS shall be consistent with estimates made for the same date in accordance with previous GAAP (after adjustments to reflect any difference in accounting policies), unless there is objective evidence that those estimates were in error.

Classification and measurement of financial assets: The classification of financial assets to be measured at amortized cost or fair value through other Profit & loss is made on the basis of the facts and circumstances that existed on the date of transition to Ind AS.

Notes to first-time adoption:

a Amortization of loan processing fees under effective interest rate method:

"The Company has incurred transaction costs on its borrowings. The same has been reduced from the borrowings on the date of initial recognition and amortized using effective interest rate method. Simultaneously, the transaction costs have been reduced from qualifying PPE/CWIP/profit & loss which were earlier debited respectively in previous GAAP.As a result, impact on depreciation has also been taken, where the PPE is changed."

The Company has incurred transaction costs on its borrowings. The same has been reduced from the borrowing on the date of initial recognition and amortized using effective interest rate method. As a result an amount has been recognized as finance cost on account of amortization under the effective interest rate method.

b Expenses have been reclassified/readjusted as per Ind AS- Rs 63 lacs related to prior period error for its reclassification to asset from the earlier classification of expene and Rs 17 lacs related to processing charges for the borrowings which is done now on net of borrowings.

c Deferred tax

Deferred tax have been recognized on the adjustments made on transition to Ind AS.

d Proposed dividend and dividend distribution thereon

Under Indian GAAP, dividends proposed by the Board of Directors after the balance sheet date but before the approval of financial statements were considered as adjusting events. Accordingly, provision for proposed dividend was recognized as a liability. Under Ind AS such dividends are recognized when the same are approved by the shareholders in the general meeting, accordingly, liability for proposed dividend (inc DDT) for Rs. 379.13 lacs as at April 1, 2016 included under provisions has been reversed with corresponding adjustment to retained earnings. Correspondingly, total equity increased by this amount.

e Excise duty

Under Indian GAAP, revenue from sale of products was presented excluding excise duty. Under Ind AS, revenue from sale of products is presented inclusive of excise duty. Excise duty paid is presented on the face of the Statement of Profit and Loss as part of expenses. This change has resulted in an increase in total revenue and total expenses for the year ended March 31, 2017 by Rs.8562.63 lacs There is no impact on total equity and profits. f Remeasurements of post - employment benefits obligations

Under Ind AS, remeasurements i.e. actuarial gains and losses and return on plan assets, on the net defined benefit liability are recognized in other comprehensive income instead of Statement of Profit and Loss. Under Indian GAAP, these remeasurements were forming part of the Statement of Profit and Loss for the year. As a result of this change, the profit for the year ended March 31,2017 has decreased by Rs. 4.88 lacs There is no impact on total equity. g Retained earnings

Retained earnings as at April 1, 2016 have been adjusted consequent to the above Ind AS transition adjustments. h Other comprehensive income

Under Ind AS, all items of income and expense recognized in a period should be included in profit or loss for the period, unless a standard requires or permits otherwise. Items of income and expense that are not recognized in profit and loss but are shown in the Statement of Profit and Loss as ''other comprehensive income'' includes remeasurements of defined benefit plans.

The concept of other comprehensive income did not exists under Indian GAAP.


Mar 31, 2016

(i) Taxes on Income

Current tax is determined as the amount of tax payable in respect of taxable Income for the period. Deferred Tax is recognized subject to considering prudence on timing differences being the differences between taxable Income and Accounting Income that originate in one period and are capable of reversal in one or more subsequent period. MAT under the provisions of Income Tax Act, 1961 is recognized as current tax in the statement of profit and loss. The credit available under the act in respect of MAT paid is recognized as an asset only when and to the extent convincing evidence that the Company will pay normal income tax during the period for which the MAT credit can be carried forward for set off against the normal tax liability. MAT credit recognized as an asset is reviewed at each balance sheet date and written down to the extent the aforesaid convincing evidence no longer exists.

2. Other Notes to the Accounts

i) Related party disclosures

a) List of related parties:

i. Key management personnel

1. Mr. A K Saraf (Chairman)

2. Mr. Rishabh Saraf (Director)

3. Mr. R N Pattanayak (Whole Time Director)

ii Relative of key management personnel with whom transactions have taken place: NIL

iii Other related parties

1. Arcotech Info Ltd.

2. Arcotech Biochem Ltd.

3. Arcotech Uniexpat Ltd.

4. Arcofemi Healthcare Ltd.

5. Arcotech Advanced Metaliks Ltd.

6. Arco Infoway Pvt Ltd.

7. Arco IT Solutions Pvt Ltd.

8. Cloast Trade and Services Pvt Ltd

9. Hiland Enclave Pvt Ltd

10. Jeevan Vihar Properties Pvt. Ltd.

11. Lifestyle Vincom Pvt Ltd

12. Medsave Healthcare (TPA) Ltd.

13. Sidhant Distributors Pvt Ltd.

14. Spice Vintrade Pvt Ltd

15. Siddhivinayak Stockist and Traders Pvt Ltd.

16. Sarathi Infrastructure Pvt Ltd.

17. Vasudha Commercial Pvt. Ltd.

b) Transactions with related parties: there are no transactions in the year with the related parties which need to be reported except : i)Remuneration paid to Mr. R N Pattanayak, Whole Time Director aggregating to Rs 3000000/- ii) Advance given to Arcotech International Limited-100% subsidiary of Rs 762010/- (previous year Rs 571253/-) has been written off.

ii) The Company is Contingently liable for an amount of Rs. 52,12,07,,603 (net of margin) towards bank Guarantees and Rs.5,19,58,020 towards Income Tax demand for AY 2013-14.

iii) There are no Micro, Small and Medium enterprises to whom the Company owed dues, which were outstanding for more than 45 days during the year.

iv) Provision for the current tax has been made as per Income Tax Act, 1961.

v) Corporate Social Responsibility

a) Gross amount required to be spent by the Company 2015-16 2014-15 as per section 135 of CA, 2013 during the year. Rs 88.78 Lacs Rs 69.66 Lacs

b) Amount spent during the year on the activities mentioned in Schedule VII of the CA, 2013 Rs 15.25 Lacs Rs 11.51 Lacs

vi) Information required under paragraph 5 of Part-II of Schedule III of the Companies Act, 2013 are annexed therewith as per Annexure-I

vii) Previous year’s figures have been recast, re-classified, re-grouped wherever considered necessary.


Mar 31, 2015

I) Related party disclosures

a) List of related parties:

i. Key management personnel

1. Mr. A K Saraf (Chairman)

2. Mr. Rishabh Saraf (Vice President)

3. Mr. R N Pattanayak (Whole Time Director)

ii Relative of key management personnel with whom transactions have taken place: NIL

iii Other related parties

1. Arcotech International Ltd.-100% subsidiary

2. Arcotech Info Ltd.

3. Arcotech Biochem Ltd.

4. Arcotech Uniexpat Ltd.

5. Arcofemi Healthcare Ltd.

6. Arcotech Advanced Metaliks Ltd.

7. Medsave Healthcare (TPA) Ltd.

8. Sidhant Distributors Pvt Ltd.

9. Vasudha Commercial Pvt. Ltd.

10. Jeevan Vihar Properties Pvt. Ltd.

11. Sarathi Infrastructure Pvt Ltd.

12. Arco Infoways Pvt Ltd.(erstwhile Nucleus Insurance Risk Managers Pvt Ltd.)

13. Arco IT Solutions Pvt Ltd. (erstwhile Trust Insurance Risk Managers Pvt Ltd.)

14. Siddhivinayak Stockist and Traders Pvt Ltd.

b) Transactions with related parties: there are no transactions in the year with the related parties which need to be reported except : i) Remuneration paid to Mr. R N Pattanayak, Whole Time Director aggregating to Rs 3000000/- and Mr. Rishabh Saraf, Vice President (Marketing) aggregating to Rs 375000/- including reimbursements. ii) Advance given to Arcotech International Limited-100% subsidiary of Rs 571253/- (previous year Rs 97253/-).

ii) The Company is Contingently Liable for an amount of Rs 12,31,51,500 (net of margin) towards Bank Guarantees. iii) There are no Micro, Small and Medium enterprises to whom the Company owed dues, which were outstanding for more than 45 days during the year.

iv) Provision for the current tax has been made as per Income Tax Act, 1961 as under:- - Provision for Current Tax at regular rate 15,54,20,892

- Less: MAT Credit Availed 10,54,411

- Net Tax Payable Provided 15,43,66,481

v) Corporate Social Responsibility

a) Gross amount required to be spent by the Company as per section 135 of Companies Act, 2013 during the year. Rs 69.66 Lacs

b) Amount spent during the year on the activities mentioned in Schedule VII of the Companies Act, 2013 Rs 11.51 Lacs

vi) Information required under paragraph 5 of Part-II of Schedule III of the Companies Act, 2013 are annexed therewith as per Annexure-I

vii) Previous year’s figures have been recast, re-classified, re-grouped wherever considered necessary.


Mar 31, 2014

1. Other Notes to the Accounts

i) Related party disclosures

a) List of related parties:

i. Key management personnel

1. Mr. A K Saraf (Chairman)

2. Mr. Rishabh Saraf (Vice President)

3. Mr. R N Pattanayak (Whole Time Director)

ii Relative of key management personnel with whom transactions have taken place: NIL

iii Other related parties

1. Arcotech International Ltd.-100% subsidiary

2. Arcotech Info Ltd.

3. Arcotech Biochem Ltd.

4. Arcotech Uniexpat Ltd.

5. Arcofemi Healthcare Ltd.

6. Arcotech Advanced Metaliks Ltd.

7. Medsave Healthcare (TPA) Ltd.

8. Sidhant Distributors Pvt Ltd.

9. Vasudha Commercial Pvt. Ltd.

10. Jeevan Vihar Properties Pvt. Ltd.

11. Sarathi Infrastructure Pvt Ltd.

12. Nucleus Insurance Risk Managers Pvt Ltd.

13. Trust Insurance Risk Managers Pvt Ltd.

14. Siddhivinayak Stockist and Traders Pvt Ltd.

b) Transactions with related parties: there are no transactions in the year with the related parties which need to be reported except : i) Remuneration paid to Mr. R N Pattanayak, Whole Time Director aggregating to Rs 3000000/- and Mr. Rishabh Saraf, Vice President (Marketing) aggregating to Rs 900000/- including reimbursements. ii) Advance given to Arcotech International Limited-100% subsidiary of Rs 97253 (previous year Rs 84467/-).

ii) Contingent Liability not provided for is Rs 6,45,04,000/- towards Bank Guarantees given to Ordnance Factories against Job Work tenders

iii) There are no Micro, Small and Medium enterprises to whom the Company owed dues, which were outstanding for more than 45 days during the year.

iv) Provision for the current tax has been made as per Income Tax Act, 1961 as under:- - Provision for Current Tax at regular rate 13,89,20,380

- Less: MAT Credit Availed 3,26,94,752

- Net Tax Payable Provided 10,62,25,628

v) Information required under paragraph 3,4C & 4D of Part-II of Schedule VI (Revised) of the Companies Act, 1956 are annexed therewith as per Annexure-I

vi) Previous years figures have been recast, re-classified, re-grouped wherever considered necessary.

2. The disclosures required under Accounting Standard (AS-15) "Employee Benefit" notified in the Companies (Accounting Standard Rules, 2006) are as given below:

(b) Defined Contribution Plans

Employer’s contribution to provident fund charged off during the year ended 31st March, 2014 of Rs 1334151 (previous year 1339104) has been included under the head Personnel Expenses (Note No. 21).


Mar 31, 2013

I) Related party disclosures

a) List of related parties:

i. Key management personnel

1. Mr. A K Saraf (Chairman)

2. Mr. Rishabh Saraf (Vice President)

3. Mr. R N Pattanayak (Whole Time Director)

ii Relative of key management personnel with whom transactions have taken place: NIL iii Other related parties

1. Arcotech International Ltd.-100% subsidiary

2. Arcotech Info Ltd.

3. Arcotech Biochem Ltd.

4. Arcotech Uniexpat Ltd.

5. Medsave Healthcare (TPA) Ltd.

6. Sidhant Distributors Pvt Ltd.

7. Vasudha Commercial Pvt. Ltd.

8. Jeevan Vihar Properties Pvt. Ltd.

9. Sarathi Infrastructure Pvt Ltd.

b) Transactions with related parties: there are no transactions in the year with the related parties which need to be reported except : i) Remuneration paid to Mr. R N Pattanayak, Whole Time Director aggregating to Rs 3000000/- and Mr. Rishabh Saraf, Vice President aggregating to Rs 900000/- including reimbursements. ii) Advance given to Arcotech International Limited-100% subsidiary of Rs 84467/-.

ii) Contingent Liability not provided for : - NIL

iii) There are no Micro, Small and Medium enterprises to whom the Company owed dues, which were outstanding for more than 45 days during the year.

iv) Provision for the current tax has been made as Minimum Alternate Tax (MAT) pursuant to the provisions of Section 115 JB of Income Tax Act, 1961.

v) Information required under paragraph 3,4C & 4D of Part-II of Schedule VI (Revised) of the Companies Act, 1956 are annexed therewith as per Annexure-I

vi) Previous years figures have been recast, re-classified, re-grouped wherever considered necessary.


Mar 31, 2012

1.1 The Company has issued Equity Shares worth Rs. 6,29,09,800 (62,90,980 Shares of Rs. 10/- each) on 20th July, 2007 at par.

1.2 Since, the shares outstanding at the beginning and at the end of the reporting period are same, reconciliation of the figures is not required.

1.3 Details of shareholders holding more than 5% shares in the company

2.1 Term loan from the bank was taken during the financial year 2009-10 and carries interest @ Base Rate 4.25%.

2.2 The loan is secured by way of equitable mortgage/ hypothecation of land, plant & machinery and building and other fixed assets of the Company and personal guarantee of the promoter director.

3.1 The cash credit is repayable on demand and carries interest @ Base Rate 3.75%.

3.2 Cash credit from banks is secured by way of hypothecation of charge on entire current assets i.e raw material, finished goods, semi finished goods, stores and book debts & personal guarantee of the promoter director.

4.1 Expense payable includes Rs 896356/- (Previous year Rs 727082/-) towards statutory dues.

5.1 Provision for leaves include current maturity amount of Rs 56,219/-

Basic earnings per share are calculated by dividing the net profit or loss for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period.For the purpose of calculating diluted earnings per share, the net profit or loss for the period attributable to equity shareholders and the weighted average numbers of shares outstanding during the period are adjusted for the effect of all dilutive potential equity shares.

6. Contingent liability not provided for.- Nil

7. RELATED PARTY DISCLOSURES

a) List of related parties:

i. Key management personnel

1. Mr. A K Saraf (Chairman)

2. Mr. Rishabh Saraf (Vice President-Marketing)

3. Mr. R N Pattanayak (Whole Time Director)

ii Relative of key management personnel with whom transactions have taken place: NIL

iii Other related parties

1. Medsave Healthcare (TPA) Ltd.

2. Sidhant Distributors Pvt Ltd.

3. Vasudha Commercial Pvt. Ltd.

4. Jeevan Vihar Properties Pvt. Ltd.

5. Arcotech Info Limited

6. Sarathi Infrastructure Pvt Ltd.

7. Arcotech Biochem Limited

8. Arcotech Uniexpat Limited

b) Transactions with related parties: there are no transactions in the year with the related parties which need to be reported except remuneration paid to Mr. R N Pattanayak, Whole Time Director aggregating to Rs. 18,06,000/- and Mr. Rishabh Saraf, Vice President (Marketing) aggregating to Rs 4,50,000/- 27. Contingent Liability not provided for : - NIL

8. There are no Micro, Small and Medium enterprises to whom the Company owed dues, which were outstanding for more than 45 days during the year.

9. Provision for the current tax has been made as Minimum Alternate Tax (MAT) pursuant to the provisions of Section 115 JB of Income Tax Act, 1961.

10. Information required under paragraph 3,4C & 4D of Part-II of Schedule VI (Revised) of the Companies Act, 1956 are annexed therewith as per Annexure-I

11. Additional information pursuant to Schedule VI (Revised) of the Companies Act, 1956 is as per Annexure II

12. Previous years figures have been recast, re-classified, re-grouped wherever considered necessary.


Mar 31, 2010

1. Contingent liability not provided for.

Bills discounted Rs 15,95,59,240/-

2. In view of companies application for grant of various reliefs under Income Tax Act pending for approval, the company has not provided for income tax.

3. Related party disclosures:

a) List of related parties:

i Key management personnel:

1. Mr. A K Saraf (Chairman)

2. Mr. R N Pattanayak (Whole time Director)

ii Relative of key management personnel with whom transactions have taken place: NIL iii Other related parties

1. Medsave Healthcare (TPA) Ltd.

2. Sidhant Distributors Pvt Ltd.

3. Vasudha Commercial Pvt. Ltd.

4. Jeevan Vihar Properties Pvt. Ltd.

5. Arcotech Info Pvt. Ltd.

4. Sarathi Infrastructure Pvt Ltd.

b) Transaction with related parties: there are no transactions in the year with the related parties, which need to be reported except remuneration paid to Mr. R.N. Pattanayak, Whole Time Director aggregating to Rs. 30,00,000/- 5. Information required under paragraph 3,4C & 4D of Part II of Schedule VI of the Companies Act, 1956 are annexed therewith as per Annexure-I.

5. Additional information pursuant to Schedule VI of the Companies Act, 1956 is as per Annexure II

6. Previous years figures have been recast, re-classified, re-grouped wherever considered necessary

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