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Notes to Accounts of C & C Constructions Ltd.

Jun 30, 2015

1. The Company has only one class of equity shares having a par value of Rs. 10/- per share. Each holder of equity share is entitled to one vote per share. 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 no. of equity shares held by the shareholder.

2. The Promoters have contributed the above said sum as a pre-condition to the CDR Scheme.

3. Decision to allot the share is pending. The allotment of shares to be issued is subject to approval by the Stock Exchange. Hence, proposed date of allotment, no. of shares to be allotted has not yet been decided.

4. Since the Number of shares to be alloted has not yet been decided, sufficiency/ insufficiency of the authorised share capital can not be worked out.

5. The Share Application Money is not refundable.

6. Details of Securities of Secured Term Loans from Banks & Others under CDR Scheme [CTL, MTL, WCTL, FITL from Banks amounting to Rs. 52295.85 Lacs & from Others amounting to Rs. 25676.82 Lacs].

A. FOR TL: IN FAVOUR OF SBP, SBH, L&T Infra, Bajaj and SREI

For WCTL: IN FAVOUR OF SBI, SBP, SBH, ICICI, Axis, IDBI, OBC, Central Bank, IndusInd:

FOR FITL: IN FAVOUR OF SBI, SBP, SBH, ICICI, Axis, IDBI, OBC, Central Bank, IndusInd, L&T Infra, Bajaj and SREI:

a. First charge ranking pari passu by way of mortgage on immovable property bearing Plot No. 70, Sector-32, Gurgaon, Haryana admeasuring 2167.90 Sq. Meters and hypothecation of moveable, fixed assets both present and future of Comapney except specifically charged assets;

b. Second charge ranking pari passu by way of hypothecation and/or pledge of current assets both present and future namely finished goods, raw materials, work-in-progress, consumable stores and spares, book debts, bills receivable etc.

B. Additional Security

In addition to the aforesaid securities on the Facilities, all the CDR Lenders shall be secured further by following additional collateral securities and shall have First charge ranking pari passu:

a. Pledge of entire unencumbered shares of the Borrower held by promoters and promoter group which shall include following persons and companies:

i. Mr. Gurjeet Singh Johar (Chairman)

ii. Mr. Charanbir Singh Sethi (Managing Director)

iii. Mr. Rajbir Singh (Whole time Director)

iv. Mr. Amrit Pal Singh Chadha (Whole time Director)

v. Mr. Sanjay Gupta (Whole time Director)

vi. M/s S J Leasing & Investment Private Limited, a company registered under the Companies Act, 1956 and having its registered office at 11 Club Drive, MG Road, Ghittorni, New Delhi-110030;

vii. M/s Bags Registry Services Private Limited, a company registered under the Companies Act, 1956 and having its registered office at 74, Hemkunt Colony, Opposite Nehru Place, New Delhi-110019;

b. It is acknowledged that the 10% shares of the Promoters held in Companey were pledged in favour of the Lenders including some Non-CDR Lenders i.e., Barclays Bank, DBS Bank Limited, Standard Chartered Bank who had sanctioned working capital facility prior to Cut-off Date. Consequent upon the CDR Package, proportionate share of the Non-CDR Lenders i.e Barclays Bank, DBS Bank Limited, Standard Chartered Bank in the security of pledge of Promoter's share shall be protected in proportion of their liability towards Working Capital Facility and balance amount of security shall be shared among the CDR Lenders in proportion to their liability towards the Working Capital Facility;

c. Pledge of all encumbered shares held by Companey, Promoters and Promoter Group which shall become unencumbered in future of all the Special Purpose Vehicles (SPVs) namely (i) C&C Projects Limited ( no. of shares 56304422), (ii) C&C Realtors Limited ( No. of Shares 125817254), (iii) BSC C&C Kurali Toll road Limited, (iv) North Bihar Highways Limited ( No. of Shares 1363700), (v) Mokama Munger Highways Limited ( No. of Shares 563940), (vi) Patna Bakhtiyarpur Tollways Limited ( No.of Shares 785859), (vii) C&C Western UP Expressway Limited ( No. of Shares 25500) and (viii) C&C Towers Limited;

d. The Promoter shall provide additional security by way of mortage of unencumbered immovable properties having valuation equivalent Rs. 30.00 Cr. as collateral only to CDR Lenders.

C. Creation of Additional Security:

If, at any time during the subsistence of this Agreement, CDR Lenders are of the opinion that the security provided by the Borrower has become inadequate to cover the balance of the Loans then outstanding, then, on CDR Lenders/ Monitoring Committee advising the Borrower to that effect, the Borrower shall provide and furnish to CDR Lenders/ Monitoring Committee, to their satisfaction such additional security as may be acceptable to CDR Lenders/Monitoring Agency to cover such deficiency

D. Acquisition of Additional Immovable Properties

So long as any monies remain due and outstanding to the CDR Lenders, the Borrower undertakes to notify the CDR Lenders/ Monitoring Institution in writing of all its acquisitions of immovable properties and as soon as practicable thereafter to make out a marketable title to the satisfaction of Security Trustee/Monitoring Institution and charge the same in favour of the CDR Lenders by way of first charge in such form and manner as may be decided by the CDR Lenders.

E. Guarantee

The Borrower shall procure irrevocable and unconditional guarantee(s) of its Promoters and Promoter Group i.e.,

a. Unconditional and irrevocable Personal Guarantees of following Directors as part of Promoter Group,

i. Mr. Gurjeet Singh Johar (Chairman)

ii. Mr. Charanbir Singh Sethi (Managing Director)

iii. Mr. Rajbir Singh (Whole time Director)

iv. Mr. Amrit Pal Singh Chadha (Whole time Director)

v. Mr. Sanjay Gupta (Whole time Director)

b. Unconditional and irrevocable Corporate Guarantee of following companies as part of Promoter Group,

i. M/s S J Leasing & Investment Private Limited and

ii. M/s Bags Registry Services Private Limited

in favour of CDR Lenders and those Non CDR Lenders who give their consent for restructuring on the same terms and conditions as contained in CDR Agreement and other Financing Documents and Security Documents.

7. Details of Securities of Secured Term Loans for Machinery & Vehicles from Banks under Non-CDR Scheme amounting to Rs. 156.99 Lacs:

Secured by hypothecation of Specific Assets and Personal Guarantees of Promoter Director(s).

8. Details of Securities of Secured Term Loans for Machinery & Vehicles from Others under Non-CDR Scheme amounting to Rs. 6742.08 Lacs:

Secured by hypothication of specific Assets and personal Guarantees of Promoter Director.

9. In view of ongoing business circumstances/climate of C&C, management has not provided Deferred Tax Assets on account of losses incurred by the company.

10. Segregation of advance from employers(Contractees) into Current & Non-Current is based on the next year's estimated deduction.

11. Working Capital Loan & Demand Loan are secured as follows:-

(a) First charge ranking pari passu by way of hypothecation and/or pledge of current assets both present and future namely finished goods, raw materials, work-in progress, consumable stores and spares, book debts, bills receivable, etc and;

(b) Second pari-passu charge by way of mortgage of all immovable assets, properties as per the details given in Schedule XI and hypothecation of moveable fixed assets both present and future of the Borrower except specifically charged assets in favour of aforesaid CDR Lenders;

(c) The above security shall be shared on pari passu basis with Non-CDR Lenders i.e Barclays Bank, DBS Bank Limited, Standard Chartered Bank of pre-restructuring Working Capital Consortium alongwith on similar condition as agreed earlier

12. The Borrower and CDR Lenders acknowledge that the Non-CDR Lenders i.e Barclays Bank, DBS Bank Limited, Standard Chartered Bank have following Existing Security Documents (other than the existing securities referred hereinabove for them ) in their favour;

a. Unconditional and irrevocable Personal Guarantees of following Directors as part of Promoter Group,

i. Mr. Gurjeet Singh Johar (Chairman)

ii. Mr. Charanbir Singh Sethi (Managing Director)

iii. Mr. Rajbir Singh (Whole time Director)

iv. Mr. Amrit Pal Singh Chadha (Whole time Director)

v. Mr. Sanjay Gupta (Whole time Director)

b. Unconditional and irrevocable Corporate Guarantee of M/s Case Components Industries Private Limited, a company registered under the Companies act,1956 and having its registered office at 74, Hemkunt Colony, Nehru Place, New Delhi.

13. Other Liabilities includes Retention Money Payable,Security deposit Payable,Sundry Debtors credit Balances, Payable to employees,other expenses payable, credit balances of banks due to reconciliation etc.

14. Statutory Liability is subject to reconciliation.

15. Long-term Trade Receivables consists of Claims filed against Employers(Contractees).

16. Non-current amount of interest accrued on FDRs represent interest receivable after 12 months.

17. Advances includes Creditors debit balances, Advances to employees, Prepaid Expenses and other misc advances.

18. Advances recoverable from Related Parties includes an amount Rs. 422.55 lacs (Previous Year Rs. 630.83 lacs) due from directors on account of remuneration paid in excess of the limits prescribed in Schedule XIII of the Companies Act,1956, debited to their accounts at the year end, on account of loss during the Previous Year ending 30.06.12.

19. During the execution of projects, claims arise on account of various disputes with the Employers. The contract defines the process of settlement of such claims. The company recognizes the revenue from these claims only on receipt, however, expenses are provided for as and when incurred.

20. CONTINGENT LIABILITIES NOT PROVIDED FOR:

A In relation to the Company:-

Particular As at 30th As at 30th June, 2015 June,2014 Rs. (Lacs) Rs. (Lacs)

Claims against the Company not acknowledged as debts. 9,896.85 52.03

Tax Liabilities that may arise in respect of matters in appeal 1,684.24 513.39

(Amount Deposited Rs. 12.34 Lacs)

Outstanding bank guarantees 19,116.56 24,944.20

Outstanding Letter Of Credit 709.29

Total 31,406.93 25,509.62

In case of following Special Purpose Companies (SPCs), the Company has guaranteed and undertaken to the lenders of these SPCs to cover the shortfall in repayment of the loan amount and payment of interest in case of termination of Concession Agreement due to any event of default during the currency of the loan.

* BSC-C&C Kurali Toll Road Ltd.

* C&C Towers Ltd.

* Mokama Munger Highway Ltd.

* North Bihar Highways Ltd.

* Patna Bakhtiyarpur Tollways Ltd

21. DISCLOSURES OF RELATED PARTIES AND RELATED PARTY TRANSACTIONS:

(i) Associate Companies

A Export Pvt Ltd

Amaltas Consulting P Ltd

Bags Registry Services (P) Ltd.

BSC-C&C- JV Nepal (P) Ltd

BSC-C&C-Kurali Toll Road Ltd

C & C Corporate Services Ltd

Case Cold Roll Forming Limited

Case Component Industries Pvt. Limited

Fidere Facilities Management Pvt Ltd

Fidere Investments Limited

FOS Laser SPA Pvt. Ltd

Frontier Services LLC Frontline Innovation (P) Ltd.

Grace Developer LLC J.D. Resort Pvt. Ltd

JBS Capital Pvt. Ltd

JBS Education Infrastructure Pvt Ltd Jeet Properties (P) Ltd.

Kinder Plume Education Pvt. Ltd

Mokama - Munger Highway Ltd

North Bihar Highway Limited

Patna Bakhtiyarpur Tollway Limited

Pelican Education Services Pvt Ltd

Pelican Educational Resources Ltd

Pelican Vocational Education P Ltd

Ruhani Realtors Pvt Ltd

S.J. Leasing & Investment (P) Limited

Sonar Infosys Ltd

SS Quality Certification LLP

Tel Systems Ltd

Titanium Engineering Pvt Ltd

Titanium Faab-Tech Pvt Ltd

(ii) Joint Ventures

BSC-C&C 'JV'

Isolux Corsan India -C&C 'JV'

ICI- C&C JV ICI-C&C Mainpuri JV C&C - ICI MEP JV

ISOLUX -C&C execution JV

ISOLUX -C&C transmission JV C & C-SE "JV"

BLA-CISC-C&C 'JV'

iii) Subsidiary Companies

C and C Projects Ltd

C& C Realtors Ltd

C & C Towers Ltd (*)

C&C Western UP Expressway Ltd

C&C (Oman) LLC

C&C Tolls Ltd

(*) Stepdown Subsidiary Company

iv) Key Managerial Personnel Board of Directors

Mr. Gurjeet Singh Johar

Mr. Charanbir Singh Sethi

Mr. Rajbir Singh

Mr. Sanjay Gupta

Mr. Amrit Pal Singh Chadha

Mr. Rajendra Mohan Aggarwal

v) Relatives of Key Managerial Personnel

Mrs Sumeet Johar

Mr. Jaideep Singh Johar

Mrs. Aayesha Singh

Mrs. Divya Johar

Mrs. Simrita Johar

Mr. Shabadjit Singh Bawa

Mr. Tarun Sarin

Dr. Suneeta Singh Sethi

Mr. Gobind Singh Sethi

Ms. Pranavi Sethi

Mr. Rajbir Singh

Mr. Lakhbir Singh Sethi

Mrs. Sukhvinder Kaur

Mrs. Paramjeet Kaur Sethi

Mr. Harjeev Sethi

Ms. Jessica Sethi

Mr. Charanbir Singh Sethi

Mrs Seema Gupta

Mr. Ujjwal Gupta

Ms. Prerana Gupta

Mrs. Inderjeet Kaur

Mr. Sardar Singh Chadha

Mrs. Pritpal Kaur

Mr. Hitpreet Singh Chadha

Mr. Harvinder Pal Singh Chadha

22. As per information available with the Company, the Sundry Creditors do not include any amount due to Micro, Small and Medium Enterprises registered under "The Micro, Small and Medium Enterprises Development Act".

23. Defined Benefit Plan

The Employee's Gratuity Fund scheme is managed by Trust ( Life Insurance Corporation of India) except the Gratuity fund contibution of Joint Ventures of the company, is a defined benefit plan. The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognises 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 of leave encashment is recognised in the same manner as gratuity.

24. Balances of some of the parties, including some related parties, are subject to reconciliation/ confirmation.


Jun 30, 2014

1. SHARE CAPITAL

1.1 5,00,00,000 authorised preference shares of Rs. 10 each has been converted to 5,00,00,000 authorised equity shares of Rs. 10 each during the year.

1.2 The Company has only one class of equity shares having a par of value of Rs.10/- per share. Each holder of equity share is entitled to one vote per share. 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 no. of equity shares held by the shareholder.

2. SHARE APPLICATION MONEY PENDING ALLOTMENT

2.1 The Promoters have contributed the above paid sum as a pre-condition to the CDR Scheme.

2.2 Decision to allot the share is pending. The allotment of shares to be issued is subject to approval by the Board of Directors & Stock Exchange. Hence, proposed date of allotment, no. of shares to be allotted has not yet been decided.

2.3 Since the Number of shares to be alloted has not yet been decided, sufficiency/insufficiency of the authorised share capital can not be worked out, and hence, the share application money received over and above the Authorised capital has not been shown under the head "Other Current Liabilities".

2.4 The Share Application Money is not refundable.

3. Long Term Borrowings

3.1 Details of Securities of Secured Term Loans from Banks & Others under CDR Scheme [CTL, MTL, WCTL, FITL from Banks amounting to Rs. 55374.29 Lacs & from Others amounting to Rs. 25968.78 Lacs].

A. FOR TL: IN FAVOUR OF SBP, SBH, L&T Infra, Bajaj and SREI

For WCTL: IN FAVOUR OF SBI, SBP, SBH, ICICI, Axis, IDBI, OBC, Central Bank, IndusInd:

FOR FITL: IN FAVOUR OF SBI, SBP, SBH, ICICI, Axis, IDBI, OBC, Central Bank, IndusInd, L&T Infra, Bajaj and SREI:

a. First charge ranking pari passu by way of mortgage on immovable property bearing Plot No. 70, Sector-32, Gurgaon, Haryana admeasuring 2167.90 Sq. Meters and hypothecation of moveable, fixed assets both present and future of Borrower except specific charged assets;

b. Second charge ranking pari passu by way of hypothecation and/or pledge of current assets both present and future namely finished goods, raw materials, work-in-progress, consumable stores and spares, book debts, bills receivable etc.

B. Additional Security

In addition to the aforesaid securities on the Facilities, all the CDR Lenders shall be secured further by following additional collateral securities and shall have First charge ranking pari passu:

a. Pledge of entire unencumbered shares of the Borrower held by promoters and promoter group which shall include following persons and companies:

i. Mr. Gurjeet Singh Johar (Chairman)

ii. Mr. Charanbir Singh Sethi (Managing Director)

iii. Mr. Rajbir Singh (Whole time Director)

iv. Mr. Amrit Pal Singh Chadha (Whole time Director)

v. Mr. Sanjay Gupta (Whole time Director)

vi. M/s S J Leasing & Investment Private Limited, a company registered under the Companies Act, 1956 and having its registered office at 11 Club Drive, MG Road, Ghittorni, New Delhi-110030;

vii. M/s Bags Registry Services Private Limited, a company registered under the Companies Act, 1956 and having its registered office at 74, Hemkunt Colony, Opposite Nehru Place, New Delhi-110019;

b. It is acknowledged that the 10% shares of the Promoters held in Borrower were pledged in favour of the Lenders including some Non-CDR Lenders i.e., Barclays Bank, DBS Bank Limited, Standard Chartered Bank who had sanctioned working capital facility prior to Cut-off Date. Consequent upon the CDR Package, proportionate share of the Non- CDR Lenders i.e Barclays Bank, DBS Bank Limited, Standard Chartered Bank in the security of pledge of Promoter''s share shall be protected in proportion of their liability towards Working Capital Facility AND balance amount of security shall be shared among the CDR Lenders in proportion to their liability towards the Working Capital Facility;

c. Pledge of all encumbered shares held by Borrower, Promoters and Promoter Group which shall become unencumbered in future of all the Special Purpose Vehicles (SPVs) namely (i) C&C Projects Limited ( no. of shares 56304422), (ii) C&C Realtors Limited ( No. of Shares 125817254), (iii) BSC C&C Kurali Toll road Limited, (iv) North Bihar Highways Limited ( No. of Shares 1363700), (v) Mokama Munger Highways Limited (No. of Shares 563940), (vi) Patna Bakhtiyarpur Tollways Limited (No.of Shares 785859), (vii) C&C Western UP Expressway Limited (No. of Shares 25500) and (viii) C&C Towers Limited;

d. The Promoter shall provide additional security by way of mortage of unencumbered immovable properties having valuation equivalent to Rs. 30.00 Cr. as collateral only to CDR Lenders.

C. Creation of Additional Security:

If, at any time during the subsistence of this Agreement, CDR Lenders are of the opinion that the security provided by the Borrower has become inadequate to cover the balance of the Loans then outstanding, then, on CDR Lenders/Monitoring Committee advising the Borrower to that effect, the Borrower shall provide and furnish to CDR Lenders/Monitoring Committee, to their satisfaction such additional security as may be acceptable to CDR Lenders/Monitoring Agency to cover such deficiency

D. Acquisition of Additional Immovable Properties

So long as any monies remain due and outstanding to the CDR Lenders, the Borrower undertakes to notify the CDR Lenders/ Monitoring Institution in writing of all its acquisitions of immovable properties and as soon as practicable thereafter to make out a marketable title to the satisfaction of Security Trustee/Monitoring Institution and charge the same in favour of the CAR lenders by way of first charge in such form and manner as may be decided by the CAR Lenders.

E. Guarantee

The Borrower shall procure irrevocable and unconditional guarantee(s) of its Promoters and Promoter Group i.e.,

a. Unconditional and irrevocable Personal Guarantees of following Directors as part of Promoter Group,

i. Mr. Gurjeet Singh Johar (Chairman)

ii. Mr. Charanbir Singh Sethi (Managing Director)

iii. Mr. Rajbir Singh (Whole Time Director)

iv. Mr. Amrit Pal Singh Chadha (Whole Time Director)

v. Mr. Sanjay Gupta (Whole Time Director)

b. Unconditional and irrevocable Corporate Guarantee of following companies as part of Promoter Group,

i. M/s S J Leasing & Investment Private Limited and

ii. M/s Bags Registry Services Private Limited

in favour of CDR Lenders and those Non CDR Lenders who give their consent for restructuring on the same terms and conditions as contained in this Agreement and other Financing Documents and Security Documents.

4. SHORT-TERM BORROWINGS

4.1 Working Capital Loan & Demand Loan are secured as follows:-

(a) First charge ranking pari passu by way of hypothecation and/or pledge of current assets both present and future namely finished goods, raw materials, work-in progress, consumable stores and spares, book debts, bills receivable, etc and;

(b) Second pari-passu charge by way of mortgage of all immovable assets, properties as per the details given in Schedule XI and hypothecation of moveable fixed assets both present and future of the Borrower except specifically charged assets in favour of aforesaid CDR Lenders;

(c) The above security shall be shared on pari passu basis with Non-CDR Lenders i.e Barclays Bank, DBS Bank Limited, Standard Chartered Bank of pre-restructuring Working Capital Consortium alongwith on similar condition as agreed earlier

4.2 The Borrower and CDR Lenders acknowledge that the Non-CDR Lenders i.e Barclays Bank, DBS Bank Limited, Standard Chartered Bank have following Existing Security Documents ( other than the existing securities referred hereinabove for them) in their favour;

a. Unconditional and irrevocable Personal Guarantees of following Directors as part of Promoter Group,

i. Mr. Gurjeet Singh Johar (Chairman)

ii. Mr. Charanbir Singh Sethi (Managing Director)

iii. Mr. Rajbir Singh (Whole Time Director)

iv. Mr. Amrit Pal Singh Chadha (Whole Time Director)

v. Mr. Sanjay Gupta (Whole Time Director)

b. Unconditional and irrevocable Corporate Guarantee of M/s Case Components Industries Private Limited, a company registered under the Companies act,1956 and having its registered office at 74, Hemkunt Colony, Nehru Place, New Delhi.

5. OTHER CURRENT LIABLITIES

5.1 Other Liabilities includes Retention Money Payable, Security deposit Payable, Sundry Debtors credit Balances, Payable to employees other expenses payable, credit balances of banks due to reconciliation etc.

5.2 Statutory Liability is subject to reconciliation.

6. OTHER CURRENT ASSETS

6.1 Long-term Trade Receivables consists of Claims filed against Employers (Contractees).

6.2 Non-current amount of interest accrued on FDRs represent interest receivable after 12 months.

7. SHORT-TERM LOANS AND ADVANCES

7.1 Advances includes Creditors debit balances, Advances to employees, Prepaid Expenses and other misc advances.

7.2 Advances recovered from related parties includes an amount of Rs. 630.83 Lacs due (Previous year Rs. 630.83 Lacs) due from Directors on account of remuneration paid in excess of the limits prescribed in Schedule XIII of the Companies Act,1956, debited to their accounts at the year end, on account of loss during the Previous Year ending 30.06.12.

8. REVENUE FROM OPERATIONS

8.1 During the execution of projects, claims arise on account of various disputes with the Employers.

The contract defines the process of settlement of such claims. The company recognizes the revenue from these claims only on receipt, however, expenses are provided for as and when incurred.

9. CONTINGENT LIABILITIES NOT PROVIDED FOR:

A. In relation to the Company:-

Partculars 2013-14 2012-13

Claims against the Company not acknowledged as debts. 52.03 51.96

Tax Liabilities that may arise in respect of 513.39 108.66 matters in appeal (Amount Deposited Rs.92.94 Lacs)

Outstanding bank guarantees 24,944.20 17,594.12

Total 25,509.62 17,754.74

In case of following Special Purpose Companies (SPCs), the Company has guaranteed and undertaken to the lenders of these SPCs to cover the shortfall in repayment of the loan amount and payment of interest in case of termination of Concession Agreement due to any event of default during the currency of the loan.

- BSC-C&C Kurali Toll Road Ltd.

- C&C Towers Ltd.

- Mokama Munger Highway Ltd.

- North Bihar Highways Ltd.

- Patna Bakhtiyarpur Tollways Ltd.

10. DISCLOSURES OF RELATED PARTIES AND RELATED PARTY TRANSACTIONS:

(i) Associate Companies

A Export Pvt Ltd

Amaltas Consulting P Ltd

Bags Registry Services (P) Ltd.

BSC-C&C- JV Nepal (P) Ltd

BSC-C&C-Kurali Toll Road Ltd

C & C Corporate Services Ltd

C&C Logistics Limited

Case Cold Roll Forming Limited

Case Component Industries Pvt. Limited

Fidere Facilities Management Pvt Ltd

Fidere Investments Limited

FOS Laser SPA Pvt. Ltd

Frontier Services LLC

Frontline Innovation (P) Ltd.

Grace Developer LLC

J.D. Resort Pvt. Ltd

JBS Capital Pvt. Ltd

JBS Education Infrastructure Pvt Ltd

Jeet Properties (P) Ltd.

Kims Wardak Diagnostic Centre Pvt Ltd

Afghanistan Kinder Plume Education Pvt. Ltd

Mokama - Munger Highway Ltd

North Bihar Highway Limited

Patna Bakhtiyarpur Tollway Limited

Pelican Education Services Pvt Ltd

Pelican Educational Resources Ltd

Pelican Vocational Education P Ltd

Ruhani Realtors Pvt Ltd

N.J. Leasing & Investment (P) Limited

Sonar informs Ltd

AS Quality Certification LLP

Tel Systems Ltd

Titanium Engineering Pvt Ltd

Titanium fab-tech Pvt Ltd

(ii) Joint Ventures

BSC-C&C ''JV''

Isolux Corsan India -C&C ''JV''

ICI- C&C JV

ICI-C&C Mainpuri

JVC&C - ICI MEP JV

ISOLUX -C&C execution JV

ISOLUX -C&C transmission JV

C & C-SE "JV"

BLA-CISC-C&C ''JV''

(iii) Subsidiary Companies

C and C Projects Ltd

C&C Realtors Ltd

C&C Towers Ltd (*)

C&C Western UP Expressway Ltd

C&C (Oman) LLC

C&C Tolls Ltd

(*) Stepdown Subsidiary Company

(iv) Key Managerial Personnel (Board of Directors)

Mr. Gurjeet Singh Johar

Mr. Charanbir Singh Sethi

Mr. Rajbir Singh

Mr. Sanjay Gupta

Mr. Amrit Pal Singh Chadha

Mr. Rajendra Mohan Aggarwal

(v) Relatives of Key Managerial Personnel

Mrs. Sumeet Johar

Mr. Jaideep Singh Johar

Mrs. Aayesha Singh

Mrs. Divya Johar

Mrs. Simrita Johar

Mr. Shabadjit Singh Bawa

Mr. Tarun Sarin

Dr. Suneeta Singh Sethi

Mr. Gobind Singh Sethi

Ms. Pranavi Sethi

Mr. Rajbir Singh

Mr. Lakhbir Singh Sethi

Mrs. Sukhvinder Kaur

Mrs. Paramjeet Kaur Sethi

(v) Relatives of Key Managerial Personnel

Mr. Harjeev Sethi

Ms. Jessica Sethi

Mr. Charanbir Singh Sethi

Mrs. Seema Gupta

Mr. Ujjwal Gupta

Ms. Prerana Gupta

Mrs. Inderjeet Kaur

Mr. Sardar Singh Chadha

Mrs. Pritpal Kaur

Mr. Hitpreet Singh Chadha

Mr. Harvinder Pal Singh Chadha

11. Defined Benefit Plan

The Employee''s Gratuity Fund scheme is managed by Trust (Life Insurance Corporation of India) except the Gratuity fund contribution of Joint Ventures of the company, is a defined benefit plan. The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognises 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 of leave encashment is recognised in the same manner as gratuity.


Jun 30, 2013

1. coNtiNGeNt LiaBiLities Not ProVided for: A. in relation to the company:- as at 30th as at 30th Particular June, 2013 June, 2012

Rs. (Lacs) Rs. (Lacs)

Claims against the Company not acknowledged as debts. 51.96 45.43

"Tax Liabilities that may arise in respect of matters in appeal 108.66 157.00

(Amount Deposited Rs.29.00 lacs) "

Outstanding bank guarantees 17,594.12 24,441.00

total 17,754.74 24,643.43

In case of following Special Purpose Companies (SPCs), the Company has guaranteed and undertaken to the lenders of these SPCs to cover the shortfall in repayment of the loan amount and payment of interest in case of termination of Concession Agreement due to any event of default during the currency of the loan.

- BSC-C&C Kurali Toll Road Ltd.

- C&C Towers Ltd.

- Mokama Munger Highway Ltd.

- North Bihar Highways Ltd.

- Patna Bakhtiyarpur Tollways Ltd.

2. discLosUres of reLated Parties aNd reLated PartY traNsactioNs:

(i) Associate Companies A Export Pvt Ltd

Amaltas Consulting P Ltd

Arrow Distribution (Goa) Private Ltd

Bags Registry Services (P) Ltd.

BSC-C&C (Oman) LLC

BSC-CandC- JV Nepal (P) Ltd

BSC-CandC-Kurali Toll Road Ltd

C & C Corporate Services Ltd

C&C Logistics Limited

Case Cold Roll Forming Limited

Case Component Industries Pvt. Limited

Fidere Facilities Management Pvt Ltd

Fidere Investments Limited

FOS Laser SPA Pvt. Ltd

Frontier Services LLC

Frontline Innovation (P) Ltd.

Grace Developer LLC

J.D. Resort Pvt. Ltd

JBS Capital Pvt. Ltd

JBS Education Infrastructure Pvt Ltd

Jeet Properties (P) Ltd.

Kims Wardak Diagnostic Centre Pvt Ltd

Kinder Plume Education Pvt. Ltd

Mainpuri Power Transmission Pvt. Ltd

Mokama – Munger Highway Ltd

Mudit Cement Pvt. Ltd.

North Bihar Highway Limited

Patna Bakhtiyarpur Tollway Limited

Pelican Education Services Pvt Ltd

Pelican Educational Resources Ltd

Pelican Vocational Education P Ltd

Ruhani Realtors Pvt Ltd

S.J. Leasing & Investment (P) Limited

Sonar Infosys Ltd

South East UP Power Transmission Ltd

Tel Systems Ltd

Titanium Engineering Pvt Ltd

Titanium Faab-Tech Pvt Ltd

(ii) Joint Ventures BSC-C&C ''JV''

Isolux Corsan India -C&C ''JV'' ICI- C&C JV ICI-C&C Mainpuri JV C&C - ICI MEP JV C & C-SE "JV" C&C- Case Cold JV BLA-CISC-C&C ''JV''

(iii) Subsidiary Companies C and C Projects Ltd

C& C Realtors Ltd C& C Towers Ltd (*) C&C Western UP Expressway Ltd C&C Tolls Ltd

(*) Stepdown Subsidiary Company

(iv) Key Managerial Personnel Mr. Gurjeet Singh Johar

Board of Directors Mr. Charanbir Singh Sethi

Mr. Rajbir Singh Mr. Sanjay Gupta Mr. Amrit Pal Singh Chadha Mr. Rajendra Mohan Aggarwal

(v) Relatives of Key Managerial Personnel Gurjeet Singh johar ( HUF)

Ms.Sumeet Johar Mr. Jaideep Singh Johar Ms. Divya Johar Ms. Simrita johar C.S. Sethi (HUF) Ms. Suneeta Singh Sethi Mr. Lakhbir Singh Sethi Ms. Jessica Sethi Mr. Jwala Prashad Gupta Mr. Harvinder Pal Singh Chadha Ms. Sukvinder Kaur Ms. Ayesha Singh Mr. Tarun Sarin Mr. Shabadjit Bawa Ms. Indrajit Kaur Chadha

3.1 Previous year fgures are in bracket.

4. As per information available with the Company, the Sundry Creditors do not include any amount due to Micro, Small and Medium Enterprises registered under "The Micro, Small and Medium Enterprises Development Act".

5. Some of Sundry Debtors, Creditors, Loans & Advances, are subject to confrmation.


Jun 30, 2010

1. CONTINGENT LIABILITIES NOT PROVIDED FOR

As at As at June 30th, June 2010 30th, ( Rs. Lacs) 2009 (Rs. Lacs)

a) Claims against the Company 49.97 78.37 not acknowledged as debts.

b) Statutory Liabilities that may 326.77 94.94 arise in respect of matters in appeal

c) Outstanding bank guarantees 68515.00 51411.00

d) Outstanding letters of credit 31046.00 21041.00

e) Corporate guarantee given 26000.00 26000.00 on behalf of associates/joint venture entities/subsidiaries

Capital Commitments

Estimated amount of Contracts (net of advances) remaining to be executed on Capital Account and not provided for Rs 412.13 Lacs (Rs.1295.91 Lacs )

2. The construction activities of the company are considered as a service activity covered under para 3(II)(C) of Part-II of Schedule VI of the Companies Act, 1956. Thus, particulars in respect of installed capacities, licensed capacities, production, stocks and sales of fi nal products/services are not applicable.

3. Value of imported raw material, stores and spares consumed and the value of all indigenous raw materials, stores and spares similarly consumed and the percentage of each to the total consumption:

4. As per information available with the Company, the Sundry Creditors do not include any amount due to Micro, Small and Medium Enterprises registered under "The Micro, Small and Medium Enterprises Development Act".

5. During the year, the Company has issued 31,53,000 No. of equity shares to Qualifi ed Institutional Buyers. Share issue expenses amounting to Rs. 32,682,101/- have been adjusted against share premium.

6. Sundry Debtors includes Rs.619.11 Lacs (Rs. 3349.21 Lacs) amount due from Associates Companies in which the Directors of the Company are interested and Rs.1063.83 (Rs.5516.14 Lacs) due from Subsidiary company. The maximum amount outstanding at any time during the year Rs.3715.20 Lacs (3349.21 Lacs) and Rs.1063.83 Lacs (Rs, 5516.14 Lacs) respectively.

7. HP FINANCE

Assets acquired on HP finance mainly comprise Tippers and Tractors, Excavators, Motor Graders, Crushers and Cars. The HP finance agreements have a primary period which is fixed and non cancellable. There are no exceptional/restrictive covenants in the HP agreements.

8. Some of Sundry Debtors, Creditors, Loans Advances, are subject to confirmation.

9. Previous year figures (including those given in bracket) have been regrouped, rearranged and reclassifi ed, wherever considered necessary, to make them comparable to the current year figures.

 
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