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Notes to Accounts of Bengal & Assam Company Ltd.

Mar 31, 2016

1. Rights and preferences attached to Equity Shares :

a. The Company has only one class of Equity Shares having a par value of Rs.10/- per share. Each shareholder is entitled to one vote per share.

b. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the Shareholders.

c. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend.

NOTES:- SECURED LOANS

- Term Loan of Rs, 4000 Lacs (Previous Year Rs, 5000 Lacs) from Indian Overseas Bank is repayable in 8 half yearly installments of Rs, 500 Lacs (Previous Year Rs, 500.00 Lacs) each with interest payable on monthly rests. The loan is secured by way of first & exclusive charge by way of equitable mortgage on Company''s immovable property at Flat No. 5-A, 5th Floor, Brighton Co-operative Housing Society Ltd, No. 2, Plot No. 68D Nepean Sea Road, Rungatha Lane, Mumbai - 400006.

- Term Loan Rs, 3392.51 Lacs (Previous Year Rs, 3747.46 Lacs) from HDFC Limited is repayable in 72 monthly installments of Rs, 67.23 Lacs including interest. The loan is secured by way of 4551 Nos. Equity Shares held by the Company in Divyashree Company Pvt. Ltd.

- Term Loan Rs, 2000 Lacs (Previous Year Rs, 2500 Lacs) from Corporation Bank is repayable in 8 half yearly installments of Rs, 250 Lacs each w.e.f. May,2016 with interest payable on monthly rests. The loan is secured by way of first & exclusive charge of equitable mortgage on Company''s immovable property at M-20, South Extn., Part-II, New Delhi & Negative Lien on immovable property at 46D, Chowringhee Road, Kolkata.

- Term Loan Rs, 1350 Lacs from Corporation Bank is repayable in 9 half yearly installments of Rs, 150 Lacs each with interest payable on monthly rests. The loan is secured by way of first & exclusive charge of equitable mortgage on Company''s immovable property at M-20, South Extn., Part-II, New Delhi & Negative Lien on immovable property at 46D, Chowringhee Road, Kolkata.

- Term Loan Rs, 5000 Lacs from Corporation Bank is repayable in 10 half yearly installments of Rs, 500 Lacs each w.e.f. Sep,2016 with interest payable on monthly rests. The loan is secured by way of first & exclusive charge of equitable mortgage on Company''s immovable property at 85, 95, Sunfower, Cuffe Parade, Mumbai & charge on property at M-20, South Extn., Part-II, New Delhi & Negative Lien on immovable property at 46D, Chowringhee Road, Kolkata.

UNSECURED LOANS

a) Rs, 3000 Lacs payable to a body corporate (related party) in 9 Yearly installments of Rs, 333.33 Lacs each.

b) Rs, 700 Lacs payable to a body corporate on 08.01.2020 with interest payable quarterly .

In view of uncertainty in the present market value of shares and securities due to volatile market conditions, management does not consider it prudent to create deferred tax asset on carried forward unabsorbed losses.

Note:- @ include certain assets yet to be registered in the name of the Company .

Notes:

1 4,551 Equity Shares Pledged with HDFC Ltd. for loan facility availed.

2 Pursuant to the Scheme of Arrangement & Demerger, the Company received 4,388 equity shares of Aditya Birla Fashion and Retail Limited in the ratio of 5:26

3 The Company received 480 bonus equity shares of Infosys in the ratio of 1:1

4 The Company received 16,665 equity shares of Rs.10/- each against 50,000 equity shares of Rs.10/- each held as per scheme of arrangement between JK Envirotech Ltd. with JK Paper Ltd. duly sanctioned by the Hon''ble High Court Gujarat Ahmadabad vide order dated 4th April, 2015.

5 Certain Investments are pending for transfer in the name of the Company.

@ includes Rs, 1200 Lacs(Previous Year Rs,1400 Lacs) to subsidiary companies & Rs, 750 Lacs (Previous Year Rs,250 Lacs) to a related party * includes Rs, 0.27 Lacs (Previous Year Rs, NIL) from a subsidiary company & Rs, 241.84 Lacs (Previous Year Rs,141.58 Lacs) from a related party

1. Contingent Liabilities not provided for – Rs, Nil (Previous Year - Rs, Nil)

2. Provision for Income Tax has been made considering certain allowances/adjustments available and as assessed by the management.

3. a) In the opinion of the Management, Current Assets, Loans and Advances have value on realization in the ordinary course of business at least equal to the amount at which they are stated.

b) Loans and Advances pursuant to Regulation 34(3) and 53(f) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:-

4. Related Party Disclosures:- (a) Related Parties:- Subsidiaries:

J.K. Fenner (India) Ltd.

Southern Spinners and Processors Ltd. *

Modern Cotton Yarn Spinners Ltd. *

Acorn Engineering Ltd. *

BMF Investments Ltd. *

Divyashree Company Pvt. Ltd. *

LVP Foods Pvt.Ltd.

Panchmahal Properties Ltd.

Hifazat Chemicals Ltd. (Under liquidation)

* Subsidiaries of J.K. Fenner (India) Ltd.

(b) Associates:-

JK Lakshmi Cement Ltd.

JK Tyre & Industries Ltd.

JK Paper Ltd.

JK Agri Genetics Ltd.

Umang Dairies Ltd.

Pranav Investment (M.P.) Company Ltd.

Deepti Electronics & Electro-Optics Pvt. Ltd.

Global Strategic Technologies Ltd.

(iv) Remuneration paid to Chief Financial Officer - Rs,66.32 Lacs. (Previous Year - Rs,58.12 Lacs) and Company Secretary - Rs,35.58 Lacs. (Previous Year - Rs,29.44 Lacs)

6. Amounts outstanding under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act) to the extent of information available with the Company - Rs,Nil. (Previous Year - Rs, Nil).

7. The balances of certain Creditors, Other Liabilities and Loans & Advances are subject to confirmation/ reconciliation.

8. Employee Benefit s: Employees Defend Benefit s - As per Actuarial Valuation on March 31, 2016:-

(*) Included under the head Employee Benefit Expenses – (Refer Note. No.17)

(i) Amount recognized as an expense include Rs,9.74 Lacs towards Provident and other Funds. (Previous year - Rs,8.46 Lacs) under the head Employee Benefit Expenses - (Refer Note No. 17). (ii) The estimates of future salary increase, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market.

9. No provision for diminution in the value of certain long term investments has been considered necessary, since in the opinion of the Management, such diminution in their value is temporary in nature considering the nature of investments, inherent value, investees'' assets and expected future cash fows from such investments.

10. Remittances in foreign currency on account of Dividend for the year 2015-16. (Previous Year : 2014-15):-

11. The information as required in terms of para 13 of Systemically Important Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions 2015 are enclosed as per Annexure -1.

12. Previous year figures have been reclassified / re-casted suitably wherever considered necessary.

Notes :

* As per Accounting Standard under Companies (Accounting Standards) Rules, 2006.

** For the purpose of Market/Break-up Value, Quoted Share/Units have been valued at Market Price/NAV as at 31.03.16 while, the Unquoted shares (other than subsidiaries) have been valued as per Breakup Value calculated as per audited Balance Sheet as on 31.03.15 or cost of acquisition (in case fresh acquired during the year).

# The definition of group companies has been taken in terms of CIC guidelines issued by RBI.


Mar 31, 2015

A. Rights and preferences attached to Equity Shares :

a. The Company has only one class of Equity Shares having a par value of Rs. 10/- per share. Each shareholder is entitled to one vote per share.

b. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

c. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend.

NOTES:- SECURED LOANS

Term Loan of Rs. 5000 Lacs (Previous Year Rs. 6000 Lacs) from Indian Overseas Bank is repayable in 10 half yearly instalments of Rs. 500 Lacs (Previous Year Rs. 500.00 Lacs) each w.e.f. June, 2015 with interest payable on monthly rests. The loan is secured by way of first & exclusive charge of equitable mortgage on Company's immovable property at Flat No. 5-A, 5th Floor, Brighton Co-operative Housing Society Ltd, No. 2, Plot No. 68D Nepean Sea Road, Rungatha Lane, Mumbai-400006. Term Loan Rs. 3747.46 Lacs from HDFC Limited is repayable in 85 monthly instalments of Rs. 67.23 including interest.The loan is secured by way of pledge of 4551 Nos. Equity Shares held by the Company in Divyashree Company Pvt. Ltd.

Term Loan Rs. 2500 Lacs from Corporation Bank is repayable in 10 half yearly instalments of Rs. 250 Lacs each w.e.f. May, 2015 with interest payable on monthly rests.The loan is secured by way of first & exclusive charge of equitable mortgage on Company's immovable property at M-20, South Extn., Part-II, New Delhi UNSECURED LOANS

a) Rs. 3333.34 Lacs payable to a body corporate(related party) in 10 Yearly instalments of Rs. 333.33 Lacs each.

b) Deferred payment to SASF Rs. 100 Lacs is payable on 30.09.2015.

c) Rs. 700 Lacs payable to a body corporate on 08.01.2020 with interest payable quarterly .

Notes:

1 4,551 Equity Shares Pledged with HDFC Ltd. for loan facility availed.

2 Due to Sub-division of shares, the Company received 137,200 No. of Equity shares of Rs. 2/- each in lieu of 27,440 Equity shares of Rs. 10/- each.

3 The Company received 240 bonus equity shares of Infosys in the ratio of 1:1.

4 The Company received 2,425,600 Equity shares of Rs. 10/- each on conversion of share warrants into Equity shares & further 11,014,850 shares were sub-divided into 55,074,250 Equity shares of Rs. 2/- each.

5 Pursuant to Scheme of Amalgamation of Wyeth Limited with Pfizer Limited, Company has received 39 Equity Shares of Pfizer Limited against 55 Equity shares of Wyeth Limited.

6 Pursuant to Scheme of Arangement of Ranbaxy Laboratories Ltd. With Sun Pharmaceutical Industries Ltd. Company has received 2,692 Equity Shares of Sun Pharmaceutical Limited against 3,366 Equity shares of Ranbaxy Laboratories Limited.

7 Due to Sub-division of shares the Company received 23,360 No. of Equity shares of Rs. 1/- each in lieu of 2,336 Equity shares of Rs. 10/- each.

8 a) 1,500,000 Fully Convertible Debentures - Series-I are converted into 1,176,471 equity shares of Rs. 10/- each.

b) Fully Convertible Debentures Series-II ('FCDs') are convertible into fully paid equity shares of Rs. 10/- each on or before 31.07.2015.

9 The Company received 1,785 bonus 8.49% non-cumulative, non-convertible, redeemable Debentures of NTPC Ltd. in the ratio of 1:1.

10 Certain Investments are pending for transfer in the name of the Company.

11 Contingent Liabilities not provided for: -

Disputed Income Tax matters (estimated) under Appeal of Rs. Nil. (Previous Year - Rs. 88.76 Lacs).

12 Provision for Income Tax has been made considering certain allowances / adjustments available and as assessed by the management

13 a) In the opinion of the Management, Current Assets, Loans and Advances have value on realisation in the ordinary course of business at least equal to the amount at which they are stated.

b) Loans and Advances pursuant to Clause 32 of the Listing Agreement:-

14 Related Party Disclosures:

(a) Related Parties:- Subsidiaries:

J.K. Fenner (India) Ltd. - (Formerly Fenner (India) Ltd. Southern Spinners and Processors Ltd. *

Modern Cotton Yarn Spinners Ltd. *

Acorn Engineering Ltd. *

BMF Investments Ltd. *

Divyashree Company Pvt. Ltd. *

LVP Foods Pvt.Ltd.

Panchmahal Properties Ltd.

Hifazat Chemicals Ltd. (Under liquidation)

* Subsidiaries of J.K. Fenner (India) Ltd.

(b) Associates:-@

JK Lakshmi Cement Ltd.

JK Tyre & Industries Ltd.

JK Paper Ltd.

JK Agri Genetics Ltd.

Umang Dairies Ltd.

Pranav Investment (M.P.) Company Ltd.

Deepti Electronics & Electro-Optics Pvt. Ltd.

Global Strategic Technologies Ltd.

Others:- @

Entities where Directors are interested:- Nav Bharat Vanijya Ltd.

Pushpawati Singhania Research Institute Key Management Personnel:-@

Shri U.K. Gupta, Manager & Chief Financial Officer Shri Dillip Swain, Company Secretary

15. Amounts outstanding under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act) to the extent of information available with the Company - Rs. Nil. (Previous Year - Rs. Nil).

16. The balances of certain Creditors, Other Liabilities and Loans & Advances are subject to confirmation/ reconciliation.

17. No provision for diminution in the value of certain long term investments has been considered necessary, since in the opinion of the Management, such diminution in their value is temporary in nature considering the nature of investments, inherent value, investees' assets and expected future cash flows from such investments.

18. The information as required in terms of para 13 of Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions 2007 are enclosed as per Annexure-1.

19. Previous year figures have been reclassified / re-casted suitably wherever considered necessary.


Mar 31, 2014

1. Contingent Liabilities not provided for:

Disputed Income Tax matters (estimated) under Appeal of Rs.88.76 Lacs (Previous Year – Rs.88.76 Lacs).

2. a) Provision for Income Tax has been made considering certain allowances / adjustments available and as assessed by the management.

b) Provision for taxation represents Minimum Alternate Tax (MAT) computed under Section 115JB of the Income Tax Act, 1961.

3. a) In the opinion of the Management, Current Assets, Loans and Advances have value on realisation in the ordinary course of business at least equal to the amount at which they are stated.


Mar 31, 2013

1 (A) Contingent Liabilities not provided for:

Disputed Income Tax matters (estimated) under Appeal of Rs. 88.76 Lacs (Previous Year - Rs. 112.73 Lacs).

(B) Other Commitments:

Undertaking for Non-Disposal of equity shares of JK Sugar Ltd. given to Bank of India against the term loan availed by JK Sugar Ltd.

2 a) Provision for Income Tax has been made considering certain allowances/ adjustments available and as assessed by the management.

b) Provision for taxation represents Minimum Alternate Tax (MAT) computed under section 115JB of the Income Tax Act, 1961.

3. a) In the opinion of the management, Current Assets, Loans and Advances have value on realisation in the ordinary course of business at least equal to the amount at which they are stated.

b) Loans and Advances pursuant to Clause 32 of the Listing Agreement:

4. Related Party Disclosure:

(a) Related Parties:- Subsidiaries:

Fenner (India) Ltd.

Southern Spinners and Processors Ltd. *

Modern Cotton Yarn Spinners Ltd. *

Acorn Engineering Ltd. *

BMF Investments Ltd. *

Divyashree Company Pvt. Ltd. *

LVP Foods Pvt. Ltd.

Panchmahal Properties Ltd.

Hifazat Chemicals Ltd. (Under liquidation)

* Subsidiaries of Fenner (India) Ltd.

Key Management Personnel:

Shri U.K. Gupta, (Manager)

5 The details of amounts outstanding under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act) to the extent of information available with the Company are as under:-

(i) Principal & Interest amount due and remaining unpaid as at 31.03.2013 : Rs.NIL (Previous Year : Nil), (ii) Payment made beyond the appointed day during the year : Rs.Nil (Previous year : Nil) and (iii) Interest Accrued and unpaid as at 31.03.2013 : Rs.Nil (Previous year : Nil).

6 The balances of certain Creditors, Other Liabilities and Loans & Advances are subject to confirmation/ reconciliation.

7 Employee Benefits : Employees Defined Benefits - As per Actuarial Valuation on March 31, 2013:-

8 No provision for diminution in the value of certain long term investments has been considered necessary, since in the opinion of the Management, such diminution in their value is temporary in nature considering the nature of investments, inherent value, investees'' assets and expected future cash flows from such investments.

9 The information as required in terms of para 13 of Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions 2007 are enclosed as per Annexure-1.

10 Previous year figures have been reclassified / re-casted suitably wherever considered necessary.


Mar 31, 2012

SECURED LOANS

1a. Term Loan of Rs 390 Lacs from Kotak Mahindra Bank is repayable in 12 Qtly. instalments of Rs 32.50 Lacs each with interest payable at monthly rests. The Loan is secured by way of first charge on all existing and future current assets and movable fixed assets related to Company's immovable property situated at M-20 South Extension,New Delhi and further secured by equitable mortgage on the aforesaid property.

1b. Term Loan of Rs 5000 Lacs from Indian Overseas Bank is repayable in 12 half yearly instalments of Rs416.67 Lacs each w.e.f. June,2014 with interest payable on monthly rests. The loan is secured by way of first & exclusive charge by way of equitable mortgage on Company's immovable property at Flat No. 5-A, 5th Floor, Brighton Co-operative Housing Society Ltd, No. 2, Plot No. 68D Nepean Sea Road, Rungatha Lane, Mumbai - 400006 as collateral security.

1c. Term Loan of Rs5000 Lacs from HDFC Ltd. is repayable in one go in Aug'2014 with interest payable at monthly rests. The loan is secured by way of pledge of 4551 Nos. Equity Shares held by the Company in M/s Divyashree Company Pvt. Ltd. along with an undertaking for Non Dilution and Non Disposal of above shareholding and by extension of the first equitable mortgage on property located at B-16, West End, New Delhi together with construction thereof.

UNSECURED LOANS

1. Loan of Rs 500 Lacs payable to a body corporate on 15th August 2012.

2. Rs 4333.33 Lacs payable to a body corporate in 13 Yrly. instalments of Rs 333.33 Lacs each.

3. Deferred payment to SASF Rs595 Lacs is payable in yearly instalments of Rs295 Lacs, Rs100 Lacs, Rs100 Lacs and Rs100/- Lacs each in the year 2012-13, 2013- 14, 2014-15 & 2015-16 respectively.

Notes:

1 4551 Equity Shares Pledged with HDFC Bank Ltd. for a loan availed by the company.

2 The Company received 2000 bonus equity shares of Ashok Leyland Ltd. in the ratio of 1:1.

3 Sub-divided into 5 Equity Shares of Rs 2/- each as against 1 Equity Share of Rs 10/- each.

4 Sub-divided into 5 Equity Shares of Rs 2/- each as against 1 Equity Share of Rs 10/- each.

5 124 shares of Malanpur Steel Ltd received against 160 shares of Hindustan Development Corpn. Ltd.

6 Undertaking for Non Disposal of equity shares of JK Sugar Ltd given to Bank of India against the term loan availed by JK Sugar Ltd.

7 Sub-divided into 10 Equity Shares of Rs 1/- each as against 1 Equity Share of Rs10/- each.

8 Pursuant to the Scheme of Arrangement between Piramal Life Sciences Limited and Piramal Healthcare Limited the Company received 12 Equity shares of Rs2 each of Piramal Healthcare Limited in lieu of 50 Equity Shares of Rs10/- each held in Piramal Life Sciences Limited.

9 Sub-divided into 5 Equity Shares of Rs 2/- each as against 1 Equity Share of Rs 10/- each.

10 Sub-divided into 5 Equity Shares of Rs 2/- each as against 1 Equity Share of Rs 10/- each.

11 Includes 8,50,000 Equity Shares Pledged with Infrastructure Development Finance Company Limited (IDFC Ltd.) for a Loan availed by JK Envirotech Ltd.

12 Convertible into equity shares (as per the applicable SEBI Guidelines) of JK Agri Genetics Ltd. , pending order in appeal before the Division Bench of High Court of Calcutta in connection with the scheme of Arrangement & Demerger between JK Agri Genetics Ltd. and Florence Alumina Ltd.

13 In the earlier years the Company has made investments in the redeemable preference shares ( Long Term as per AS-13) which are now redeemable within 12 months from the reporting date and are now shown under the current portion of long term investment.

14 Certain Investments are pending for transfer in the name of Company.

20. The Company has been registered as a Core Investment Company (CIC-ND-SI) vide Certificate of Registration dated 17.11.2011 issued by Reserve Bank of India.

15. (A) Contingent Liabilities (to the extent not provided for):

i. Disputed Income Tax matters (estimated) under Appeal of Rs6.73 Lacs (Previous Year Rs11.84 Lacs). (Net of advance - Rs 106 Lacs, Previous year - Rs26.69 Lacs).

(B) Other Commitments

i. Guarantee given to a Bank in respect of Loan facility availed by other body corporate [ Outstanding as at 31.03.2012 Rs Nil ( Previous Year- Rs15.37 Lacs)] against counter indemnity.

ii. Undertaking for Non Disposal of equity shares of JK Sugar Ltd given to Bank of India against the term loan availed by JK Sugar Ltd.

16. a) Income Tax calculation has been made considering certain allowances / adjustments available as assessed by the management.

b) Provision for taxation represents Minimum Alternate Tax (MAT) computed under section 115JB of the Income Tax Act, 1961.

17. a) In the opinion of the Board, Current Assets, Loans and Advances have value on realisation in the ordinary course of business at least equal to the amount at which they are stated.

b) In the opinion of the management (read with note no. 29) there is no provision for bad and doubtful debts, loans & advances and diminution in the value of long term investments in their respective carrying values.

c) Loans and Advances pursuant to Clause 32 of the Listing Agreement:

18. As per Accounting Standard 18, issued by the Institute of Chartered Accountants of India, the disclosures of and transactions with the related parties as defined in Accounting Standard are given below:-

a) List of related parties where control exists and related parties with whom transactions have taken place and relationships (As identified by the management):-

Subsidiaries:

Fenner (India) Ltd.

Southern Spinners and Processors Ltd. *

Modern Cotton Yarn Spinners Ltd. *

Acorn Engineering Ltd. *

BMF Investments Ltd. *

LVP Foods Pvt.Ltd

Panchmahal Properties Ltd.

Dwarkesh Energy Ltd.(Ceased to be subsidiary w.e.f. 11.08.2011)

Divyashree Company Pvt. Ltd.(Formerly M.S. & Sons JV Projects Pvt. Ltd.) (w.e.f. 05.08.2011) *

Hifazat Chemicals Ltd. (Under liquidation)

* Subsidiaries of Fenner (India) Ltd.

Key Management Personnel:

Shri U.K. Gupta, (Manager)

i. There are no transactions with and remuneration to Key Management Personnel during the current and previous year.

ii. Guarantee has been given by the Company to a Bank in respect of loan facility of Rs1,753 Lacs availed by a subsidiary company - LVP Foods Pvt. Limited. {Loan outstanding as at 31.03.12 - Rs 1,205.19 Lacs (Previous Year - Rs1,643.44 Lacs)}.

iii. First charge by way of equitable mortgage on the immovable property of the Company situated at B- 16 West End New Delhi has been created for the term loan availed by Fenner (India) Ltd. (Subsidiary Company) from HDFC Ltd.

26. The details of amounts outstanding under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act) to the extent of information available with the Company are as under:

(i) Principal & Interest amount due and remaining unpaid as at 31.03.2012: Nil (Previous year: Nil), (ii) Payment made beyond the appointed day during the year: Nil (Previous year: Nil) and (iii) Interest Accrued and unpaid as at 31.03.2012: Nil (Previous year: Nil).

19. The balances of certain Creditors, Other Liabilities and Loans & Advances are subject to confirmation/ reconciliation.

20. No provision for diminution in the value of certain long term investments has been considered necessary, since in the opinion of the Management, such diminution in their value is temporary in nature considering the nature of investments, inherent value, investees' assets and expected future cash flows from such investments.

21. The information as required in terms of para 13 of Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions 2007 are enclosed as per Annexure-1.

22. During the year ended 31st March 2012, the revised Schedule VI notified under the Companies Act, 1956, has become applicable to the Company. Thus previous year figures has been reclassified / recasted suitably. The adoption of revised Schedule VI does not impact recognition and measurement principles followed for preparation of financial statements except for presentation and disclosures, wherever required.

 
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