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Notes to Accounts of Basil Infrastructure Projects Ltd.

Mar 31, 2015

1. (a) Employee benefit plans:

As per Accounting Standard 15 - "Employee Benefits" issued by the Institute of Chartered Accountants of India the disclosure of employee benefits as defined in the Accounting Standard are given hereunder:

The present value in respect of obligation towards gratuity liability is determined based on actuarial valuation using the Projected Unit Credit Method which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.The obligation for compensatory absences is recognised in the same manner as gratuity.

2. Related party Transactions:

Related parties in terms of AS-18 issued by the institute of Chartered Accountants of India.

i. Key Management Personnel

Mrs. M. Srimani, Managing Director

ii. Relatives of Key Management Personnel -

Mr.M.S.P.Rama Rao

iii.Companies/Firms/Other Concerns in which Key Management Personnel or her relatives hold substantial interest:

* Konaseema Gas Power Ltd * Konaseema Power Corporation Ltd * Golden Jubilee Hotels Ltd * VBC Ferro Alloys Ltd * VBC Industries Ltd -Hillfort Palace (P) Ltd -11C Hotels (P) Ltd * Core Hotels Ventures (P) Ltd. * Avaialable Resources (p) Ltd * VBC Fertilizers & Chemicals Ltd

3. Previous years figures have been regrouped wherever necessary.


Mar 31, 2014

Note no. 1.1 (a) Employee benefit plans:

As per Accounting Standard 15 - "Employee Benefits" issued by the Institute of Chartered Accountants of India the disclosure of employee benefits as defined in the Accounting Standard are given hereunder:

The present value in respect of obligation towards gratuity liability is determined based on actuarial valuation using the Projected Unit Credit Method which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for compensatory absences is recognised in the same manner as gratuity.

II. Reconciliation of opening and closing balances of fair value of plan assets and fair value of assets and obligations does not arise as the company has no planned assets in respect of its obligation towards gratuity

2A. Related party Transactions:

Related parties in terms of AS-18 issued by the institute of Chartered Accountants of India.

I. Key Management Personnel

Mrs. M. Srimani, Managing Director

ii. Relatives of Key Management Personnel - Mr.M.S.P.Rama Rao

iii. Companles/Firms/Other Concerns in which Key Management Personnel or her relatives hold substantial interest:

- Konaseema Gas Power Ltd

- Konaseema Power Corporation Ltd

- Golden Jubilee Hotels Ltd

- VBC Ferro Alloys Ltd

- VBC Industries Ltd

- Hillfort Palace (P) Ltd

- I I C Hotels (P) Ltd

- Core Hotels Ventures (P) Ltd.

- Available Resources (p) Ltd

- VBC Fertilizers & Chemicals Ltd

3 Previous years figures have been regrouped wherever necessary.


Mar 31, 2012

1A. Related party Transactions :

Related parties in terms of AS-18 issued by the institute of Chartered Accountants of India.

i. Key Management Personnel -

Mrs. M. Srimani, Managing Director

ii. Relatives of Key Management Personnel -

Mr.M.S.P.Rama Rao

iii. Companies/Firms/Other Concerns in which Key Management Personnel or her relatives hold

substantial interest :

- Konaseema Gas Power Ltd

- Konaseema Power Corporation Ltd

- Indo-Us Coal Washeries Ltd

- Golden Jubilee Hotels Ltd

- VBC Industries Ltd

- Hillfort Palace (P) Ltd

- I I C Hotels (P) Ltd

- Core Hotels Ventures (P) Ltd.

- Available Resources (p) Ltd


Mar 31, 2011

1 As per Accounting Standard 15-'Employee Benefits' issued by the Institute of Chartered Accountants of India the disclosure of employee benefits as defined in the Accounting Standard are given hereunder: Defined Benefit Plans

The present value in respect of obligation towards gratuity liability is determined based on actuarial valuation using the Projected Unit Credit Method which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for compensatory absences is recognized in the same manner as gratuity.

I. Reconciliation of opening and closing balances of fair value of plan assets and fair value of assets and obligations does not arise as the company has no planned assets in respect of its obligation towards gratuity.

2A. Related party Transactions:

Related parties in terms of AS-18 issued by the institute of Chartered Accountants of India.

i. Key Management Personnel

Mrs. M. Srimani, Managing Director ii. Relatives of Key Management Personnel

Mr.M.S.P.Rama Rao iii. Companies/Firms/Other Concerns in which Key Management Personnel or her relatives hold substantial interest:

-Konaseema Gas Power Ltd

-Konaseema Power Corporation Ltd

- Indo-Us Coal Washeries Ltd

- Golden Jubilee Hotels Ltd

- VBC Industries Ltd

- Hillfort Palace (P) Ltd -IIC Hotels (P) Ltd

- Core Hotels Ventures (P) Ltd.

- Avaialable Resources (p) Ltd

3 Previous years figures have been regrouped wherever necessary.


Mar 31, 2010

1.As per Accounting Standard 15 - "Employee Benefits" issued by the Institute of Chartered Accountants of India the disclosure of employee benefits as defined in the Accounting Standard are given hereunder: Defined Benefit Plans The present value in respect of obligation towards gratuity liability is determined based on actuarial valuation using the Projected Unit Credit Method which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for compensatory absences is recognized in the same manner as gratuity.

I. Reconciliation of opening and closing balances of Defined Benefit obligation :

II. Reconciliation of opening and closing balances of fair value of plan assets and fair value of assets and obligations does not arise as the company has no planned assets in respect of its obligation towards gratuity.

III. Expenses recognized during the year (in the statement of Profit & Loss Account):

2 Previous years figures have been regrouped wherever necessary.

 
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