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Notes to Accounts of CHD Developers Ltd.

Mar 31, 2015

SEGMENT REPORTING

The Company has a single segment namely "Real Estate". Therefore ,the company's Business does not fall under different business segments defined by AS-17-"Segmental Reporting" issued by lCAI.

RELATED PARTIES DISCLOSURES

As per Accounting Standard 18, "Related Party Disclosures" the disclosure of transactions with the related parties are given below:

The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.

Company has transferred Rs.10,000/- to the Investor Education and Protection Fund during the F.Y. 2014-15. However, there is no amount pending to be transferred to Investor Education & Protection Fund as on 31.03.2015

I Some of the Balances of the Debtors, Creditors, Advances and loan are Subject to Confirmation/ reconciliation. BBUMSil Previous year's figures have been regrouped/rearranged, wherever necessary, to confirm this year's classifications.


Mar 31, 2014

1.a. Terms/rights attached to equity shares

i) The company has only one class of equity shares having a par value of Rs. 2/- per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees.

ii) 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.

DETAIL OF SECURITIES & TERM OF REPAYMENT Secured Loan

A) Vehicle Loan

i) Axis Bank

a) Secured by way of hypothecation of vehicle. The Interest rate is 10.51% p.a. and loan is repayable in 36 equal monthly installments of Rs. 32,224/-. The outstanding installment w.r.t. balance sheet date is 15 installments.

b) Secured by way of hypothecation of vehicle. The Interest rate is 9.25% p.a. and loan is repayable in 36 equal monthly installments of Rs. 63,837/- . The outstanding installment w.r.t. balance sheet date is 20 installments.

ii) ICICI Bank

a) Secured by way of hypothecation of vehicle. The Interest rate is 11.24% p.a. and loan is repayable in 36 equal monthly installments of Rs. 23,045/- . The outstanding installment w.r.t. balance sheet date is 6 installments.

b) Secured by way of hypothecation of vehicle. The Interest rate is 8.53% p.a. and loan is repayable in 36 equal monthly installments of Rs. 3,10,439/- . The outstanding installment w.r.t. balance sheet date is 15 installments.

c) Secured by way of hypothecation of vehicle. The Interest rate is 9.49% p.a. and loan is repayable in 36 equal monthly installments of Rs. 3,15,495/- . The outstanding installment w.r.t. balance sheet date is 29 installments.

B) TERM LOAN

i) Axis Bank

a) Secured by (i) Equitable mortgage of part Land & Building at Vikaspuri, New Delhi (ii) Equitable mortgage of SCO 16 & 17 situated at CHD City Karnal (iii) Personal guarantee of two directors of the company. The Interest rate is 14.75% p.a. and loan is repayable in 80 equal monthly installments of Rs. 2,05,050/- The outstanding installment w.r.t. balance sheet date is 17 installments.

b) Secured by (i) Equitable mortgage of part Land & Building at Vikaspuri, New Delhi (ii) Equitable mortgage of SCO 16 & 17 situated at CHD City Karnal (iii) Personal guarantee of two directors of the company. The Interest rate is 14.75% p.a. and loan is repayable in 96 equal monthly installments of Rs. 1,47,210/- The outstanding installment w.r.t. balance sheet date is 33 installments.

c) Secured by (i) Equitable mortgage of part Land & Building at Vikaspuri, New Delhi (ii) Equitable mortgage of SCO 16 & 17 situated at CHD City Karnal (iii) Personal guarantee of two directors of the company. The Interest rate is 14.75% p.a. and loan is repayable in 96 equal monthly installments of Rs. 1,40,500/- The outstanding installment w.r.t. balance sheet date is 33 installments.

d) Secured by (i) Equitable mortgage of part Land & Building at Vikaspuri, New Delhi (ii) Equitable mortgage of SCO 16 & 17 situated at CHD City Karnal (iii) Personal guarantee of two directors of the company. The Interest rate is 14.75% p.a. and loan is repayable in 75 equal monthly installments of Rs. 6,03,565/- The outstanding installment w.r.t. balance sheet date is 12 installments.

ii) Capri Global Capital Ltd.

a) Secured by (i) First & exclusive charge by way of equitable mortgage of part land in CHD City Sector-45, Karnal (ii) Personal guarantee of two Directors of the company. The Interest rate is 20.25% and loan is repayable in 9 quarterly installments. The outstanding installment w.r.t. balance sheet date is 6 installments.

b) Secured by (i) Extention of First charge by way of equitable mortgage of part land in CHD City Sector-45, Karnal (ii) Personal guarantee of two Directors of the company. The Interest rate is 20.25% and loan is repayable in 9 monthly installments. The outstanding installment w.r.t. balance sheet date is 6 installments.

c) Secured by (i) Extention of First charge by way of equitable mortgage of part land in CHD City Sector-45, Karnal (ii) Personal guarantee of two Directors of the company. The Interest rate is 20.25% p.a. and loan is repayable in 10 monthly installments with moratorium period of 10 months. The outstanding installment w.r.t. balance sheet date is 10 installments.

iii) DMI Finance Private Limited

Secured by (i) Equitable mortgage and Exclusive First charge of commercial land situated at Sector - 109, Gurgaon (ii) Personal guarantee of two Directors of the company, (iii) Corporate Guarantee of International Infratech Private Limited. The Interest rate is 19% p.a. and loan is repayable in 36 monthly installments with moratorium period of 12 months. The outstanding installment w.r.t. balance sheet date is 36 installments.

iv) Kotak Mahindra Prime Ltd.

Loan is secured by first pari pasu charge with Kotak Mahindra Bank Limited & Kotak Mahindra Investments Limited of (i) Project land of Golf Avenue-106, Gurgaon (ii) Personal Guarantee of two directors of the company (iii) Corporate Guarantee of Empire Realtech Pvt. Ltd.& CHD Armaan Realtech Pvt. Ltd. The Interest rate is 18.25% p.a. and loan is repayable in 24 monthly installments. The outstanding installment w.r.t. balance sheet date is 8 installments.

v) Kotak Mahindra Bank Ltd.

Loan is secured by first pari pasu charge with Kotak Mahindra Prime Limited & Kotak Mahindra Investments Limited of (i) Project land of Golf Avenue-106, Gurgaon (ii) Personal Guarantee of two directors of the company (iii) Corporate Guarantee of Empire Realtech Pvt. Ltd. The Interest rate is 18.25% p.a. and loan is repayable in 18 monthly installments. The outstanding installment w.r.t. balance sheet date is 13 installments.

vi) Kotak Mahindra Investments Ltd.

a) Loan is secured by (i) First pari pasu charge with Kotak Mahindra Bank Limited & Kotak Mahindra Prime Limited of project land of Golf Avenue-106, Gurgaon (ii) Equitable mortgage of project land of Sohna, located at Sector-34, Sohna (iii) Personal Guarantee of two directors of the company (iv) Corporate Guarantee of Empire Realtech Pvt. Ltd. The Interest rate is 18.00% p.a. and loan is repayable in 12 monthly installments with a moratorium period of 24 months. The outstanding installment w.r.t. balance sheet date is 12 installments.

b) Loan is secured by (i) First pari pasu charge with Kotak Mahindra Bank Limited & Kotak Mahindra Prime Limited of project land of Golf Avenue-106, Guargaon (ii) Equitable mortgage of project land of CHD Vann located at Sector-71, Gurgaon (iii) Personal Guarantee of two directors of the company (iv) Corporate Guarantee of Empire Realtech Pvt. Ltd. The Interest rate is 16.00% and loan is repayable in 12 monthly installments with a moratorium period of 24 months. The outstanding installment w.r.t. balance sheet date is 12 installments.

* The company has not received any information from its suppliers/ parties regarding the applicability of Micro, Small and Medium Enterprises Development Act, 2006. Hence, the information about Micro, Small and Medium Enterprises and other disclosures, if any relating to amounts unpaid as on 31 March, 2014 together with interest paid/ payable as required under Micro, Small and Medium Enterprises Development Act, 2006 is not given.

* Includes expenses payable, Retention payables, development charges & duties & taxes etc.

*Valued at lower of cost and net realizable value as certified by management

*includes fixed deposits of Rs. 6,07,46,004/- having maturity of more than 12 months.

The present value of obligation is determined based on actuarial valuation using the projected unit credit (PUC) actuarial method to assess the plan''s liabilities on exit of employees due to retirement, death-in-service and withdrawal, and also compensated absence while in service.

Under the PUC method, a projected accrued benefit is calculated at the beginning of the period and again at the end of the period for each benefit that will accrue for all active member of the plan. The projected accrued benefit is based on the plan accrual formula and upon service as of the beginning or end of period, but using member''s final compensation, projected to the age at which the employee is assumed to leave active service. The plan liability is the actuarial present value of the projected accrued benefits as of the beginning and end of the period for active members including availment, encashment while in service.

Note - 2 SEGMENT REPORTING

The company has a single segment namely "Real Estate " .Therefore ,the company''s Business does not fall under different business segments defined by AS-17- "Segmental Reporting" issued by ICAI.

Note - 3 CONTINGENT LIABILITIES & COMMITMENTS:

(Amount in Rs. )

Particulars As at As at 31 March 2014 31 March 2013

1. Claims against the company not acknowledged as debt 1,37,95,416 90,33,497

2. Guarantee issued by the Banks on behalf of the Company 45,84,03,800 29,51,75,000

3. Corporate Guarantee given to Bank for providing loans/ BG''s to related parties 16,42,00,000 16,42,00,000

Note - 4

Some of the Balances of the Debtors, Creditors, Advances and loan are Subject to Confirmation/ reconciliation.

Note - 5

Previous year''s figures have been regrouped/rearranged, wherever necessary, to confirm this year''s classifications.


Mar 31, 2013

A) Corporate Information

CHD Developers Limited (''the Company'') was incorporated on August 17, 1990. CHD Developers Limited is a leading real estate developer engaged in the business of township and residential/commercial complexes. The operation of the company spans all aspects of real estate development, from identifcation and acquisition of land, to planning, execution, construction and marketing projects.

Note - 1 CONTINGENT LIABILITIES & COMMITMENTS (Amount in Rs.)

As at As at Particulars 31 March 2013 31 March 2012

1. Claims against the company not acknowledged as debt

i. Income Tax Demand 49,548,000 49,548,000

ii. Sales Tax Demand 249,000 2,178,000

iii. Others 9,033,497 17,854,099

2. Guarantee issued by the Banks on behalf of the Company 295,175,000 166,868,500

3. Corporate Guarantee given to Bank for providing loans/ BG''s to related parties 164,200,000 193,408,000

Note - 2

During the year the company has acquired the entire undertaking i.e. Group Housing Project named "Avenue-71" at sector-71, Gurgaon at book value on "as-is-where-is-basis" through slump sale w.e.f. 1st April, 2012. Accordingly all the assets and liabilities including materially known contingent liabilities, if there is any, related to the said business of the company, have been acquired.

Note - 3

During the period under review, search operation under section 132 of the Income Tax Act, 1961 had taken place at the premises of the Company and its directors. Search Assessment proceeding will start in due course of time. No demand notice has been served on the Company till date pursuant to the said search.

Note - 4

Some of the Balances of the Debtors, Creditors, Advances and loan are Subject to Confrmation/ reconciliation.

Note - 5

Previous year''s fgures have been regrouped/rearranged, wherever necessary, to confrm this year''s classifcations.


Mar 31, 2012

A) Corporate Information

CHD Developers Limited ('the Company') was incorporated on August 17, 1990. CHD Developers Limited is a leading real estate developer engaged in the business of township and residential/commercial complexes. The operation of the company spans all aspects of real estate development, from identification and acquisition of land, to planning, execution, construction and marketing projects.

a. Terms/rights attached to equity shares

i) The company has only one class of equity shares having a par value of Rs.2/- per share. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General meeting.

During the year ended 31 March, 2012, the dividend recognized as distribution to equity shareholders is 5% of paid up value (31 March 2011 : 5%)

ii) 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.

As per records of the company, including its register of shareholders/members and other declarations received from shareholders/ members regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.

d) Employee Stock Option Scheme:

The Securities and Exchange Board of India (SEBI) has issued the Employees Stock Options Scheme and Employees Stock Purchase Scheme guidelines, 1999. In accordance with these guidelines, the excess of the market price of the underlying equity shares as on the date of grant of the options over the exercise price of the option, including upfront payments, if any, is to be recognised as an expense and amortised on a straight line basis over the vesting period.

DETAIL OF SECURITIES & TERM OF REPAYMENT Secured Loan

A) Vehicle Loan

i) Axis Bank

a) Secured by way of hypothecation of vehicle. The loan @10.25% is repayable in 36 equal monthly installments of Rs. 44,248/-. The outstanding installment w.r.t. balance sheet date is 3 installments.

b) Secured by way of hypothecation of vehicle. The loan @ 11% is repayable in 36 equal monthly installments of Rs. 8,839/-. The outstanding installment w.r.t. balance sheet date is 4 installments.

ii) HDFC Bank

Secured by way of hypothecation of vehicle. The loan @ 8.30% is repayable in 36 equal monthly installments of Rs. 31,475/-. The outstanding installment w.r.t. balance sheet date is 7 installments.

iii) ICICI Bank

a) Secured by way of hypothecation of vehicle. The loan @10.50% is repayable in 36 equal monthly installments of Rs. 12,888/. The outstanding installment w.r.t. balance sheet date is 15 installments.

b) Secured by way of hypothecation of vehicle. The loan @ 11.24% is repayable in 36 equal monthly installments of Rs. 23,045/-. The outstanding installment w.r.t. balance sheet date is 30 installments.

c) Secured by way of hypothecation of vehicle. The loan @ 11.00% is repayable in 36 equal monthly installments of Rs. 17,352/- . The outstanding installment w.r.t. balance sheet date is 18 installments.

iv) Kotak Mahindra Prime Ltd.

Secured by way of hypothecation of vehicle. The loan @10.75% is repayable in 35 equal monthly installments of Rs. 30,714/. The outstanding installment w.r.t. balance sheet date is 4 installments.

v) Reliance Capital

Secured by way of hypothecation of vehicle. The loan @ 16.00% is repayable in 35 equal monthly installments of Rs. 29,400/- . The outstanding installment w.r.t. balance sheet date is 1 installment.

B) TERM LOAN

i) Bank of Baroda

Secured by equitable mortgage of Land & Buildings at varindavan,UP and personal guarantee of two directors. The loan @ 18.00 % is repayable in 16 equal quarterly installments of Rs.53,12,000/- each. The outstanding installment w.r.t. balance sheet date is 2 installments.

ii) HUDCO

Secured by registered mortgage of project land at Village Uchana, Sector-45, Karnal and personal guarantee of two directors. The loan @ 15.25% is repayable in 12 equal quarterly installments of Rs.2,68,00,000/- The outstanding installment w.r.t. balance sheet date is 3 installments.

iii) Axis Bank

a) Secured by equitable mortgage of part of Land & Building at Vikaspuri, New Delhi and personal guarantee of two directors. The loan @ 14.50 % is repayable in 80 equal monthly installments of Rs.2,05,050/- The outstanding installment w.r.t. balance sheet date is 41 installments.

b) Secured by equitable mortgage of part of Land & Building at Vikaspuri, New Delhi and personal guarantee of two directors. The loan @ 14.50% is repayable in 96 equal monthly installments of Rs.1,47,210/- The outstanding installment w.r.t. balance sheet date is 57 installments.

c) Secured by equitable mortgage of part of Land & Building at Vikaspuri, New Delhi and personal guarantee of two directors. The loan @ 14.50% is repayable in 96 equal monthly installments of Rs.1,40,500/- The outstanding installment w.r.t. balance sheet date is 57 installments.

d) Secured by equitable mortgage of part of Land & Building at Vikaspuri, New Delhi and personal guarantee of two directors. The loan @ 14.50% is repayable in 75 equal monthly installments of Rs.6,03,565/- The outstanding installment w.r.t. balance sheet date is 36 installments.

iv) Money Matters Financial Services Ltd.

Secured by equitable mortgage of project land at Village Uchana, Sector-45, Karnal and personal guarantee of two directors. The loan @ 20.25% is repayable in 8 quarterly installments. First installment is of Rs. 1,00,00,000/-, second installment is of Rs. 3,00,00,000 and balanced 6 installments are of Rs. 3,50,00,000/- each. The outstanding installment w.r.t balance sheet date is 7 installments.

* The company has not received any information from its suppliers/ parties regarding the applicability of Micro, Small and Medium Enterprises Development Act, 2006. Hence, the information about Micro, Small and Medium Enterprises and other disclosures, if any relating to amount unpaid as on March 31, 2012 together with Interest paid / payable as required under Micro, Small and Medium Enterprises Act, 2006 is not given.

The present value of obligation is determined based on actuarial valuation using the projected unit credit (PUC) actuarial method to assess the plan's liabilities on exit of employees due to retirement, death-in-service and withdrawal, and also compensated absence while in service.

Under the PUC method, a projected accrued benefit is calculated at the beginning of the period and again at the end of the period for each benefit that will accrue for all active member of the plan. The projected accrued benefit is based on the plan accrual formula and upon service as of the beginning or end of period, but using member's final compensation, projected to the age at which the employee is assumed to leave active service. The plan liability is the actuarial present value of the projected accrued benefits as of the beginning and end of the period for active members including availment, encashment while in service.

1) Actuarial assumptions a) Economic Assumptions

The principal assumptions are the discount rate & salary growth rate. The discount rate is generally based upon the market yields available on Government bonds at the accounting date with a term that matches that of the liabilities & the salary growth rate takes account of inflation, seniority, promotion and other relevant factors on long term basis. Valuation assumptions are as follows which have been agreed by the company:

Note 2 SEGMENT REPORTING

The company has a single segment namely "Real Estate ". Therefore, the company's Business does not fall under different business segments defined by AS-17- "Segmental Reporting" issued by ICAI.

Note 3 CONTINGENT LIABILITIES & COMMITMENTS

Particulars As at As at 31 March, 2012 31 March, 2011

1. Claims against the company not acknowledged as debt

i. Income Tax Demand 49,548,000 48,338,000

ii. Sales Tax Demand 2,178,000 2,178,000

iii. Others - 17,170,000

2. Guarantee issued by the Banks on behalf of the Company 166,868,500 84,814,000

3. Corporate Guarantee given to Bank for providing secured loans/ BG's to related parties 193,408,000 305,508,000

Note 4 SUBSEQUENT EVENTS

There is a Business takeover of Project- Avenue - 71 from its subsidiary CHD Armaan Realtech Pvt. Ltd. the effective date of this transaction is April 01,2012.

Note 5

Some of the Balances of the Debtors, Creditors, Advances and loan are Subject to Confirmation/ reconciliation.

Note 6

Previous year's figures have been regrouped/rearranged, wherever necessary, to confirm this year's classifications.


Mar 31, 2010

1. In the opinion of the Board of Directors the value on realisation of current assets and loans & advances in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

2. Segment Information:

Company is operating in two segments, but is not giving segment-wise results because there is no reportable segment which has revenue/assets of more than required limit as per Accounting Standard (AS-17) on Segment Reporting.

3. Related Parties Disclosures:

As per the requirement of Accounting Standard "AS-18" issued by the Institute of Chartered Accountants of India the following are the list of and relationship with related parties with whom transactions have taken place during the year ended 31.03.2010:

4. Foreign Currency Transaction:

During the year expenses incurred in foreign currency were Rs. 12,32,5121- (P.Y. Rs. 2,00,964/-).

5. Deferred Tax:

The Accumulated net deferred tax liability is Rs. 36,03,460/- as on March 31, 2010. Provision for Deferred Tax Liability for the year ended March 31,2010 amounting Rs. 3,20,995/- has been debited to Profit & Loss Account. The deferred tax Liabilities / Assets arise due to timing difference on account of Depreciation on Fixed Assets. Deferred tax liabilities / Assets are reviewed as at each Balance Sheet date.

6. No provision has been made in respect of Municipal/Corporation Tax for owned Properties/ Flats in hand as assessment proceeding has not yet been finalised. The Municipal Tax will be accounted for in the year of payment.

7. Quantitative details: Quantitative details of material consumed/bought & sold as required under schedule VI of the Companies Act, 1956 are as under:

(b) Restaurant Division: There are too many items of food stuff eatable, provisions, beverages etc. details of which are not practically available the Company has applied for the extension of exemption U/s 211(4) of the Companies Act, 1956, earlier issued through certificate no. 46/39/2007 CL-III dated 8th March, 2007, to Ministry of Company affairs, Shashtri Bhawan, New Delhi.

8. Details of Convertible share Warrant.

During the year the Company has issued and allotted 1,56,60,000 convertible share warrants at the rate of Rs. 4.65/- only, which have been converted into 1,56,60,000 equity shares of Rs. 21- each at a premium of Rs. 2.65/-per share, during the year.

9. Detail of Karnal Project:

The Company has received a License from The Director, Town & Country Planning, Haryana, for the total area of 123.875 acres for development of an integrated Township namely CHD City at Sector-45 Karnal. 37.812 Acres of land out of the 123.875 acres is not in the name of the Company. However, the Company holds all the rights relating to developing/selling of the said land.

10. Detail of Gurgaon Project:

The Company has entered into a collaboration agreement for development of a Group Housing Complex at Sector 71, Gurgaon at a land measuring 16.465 Acres. The Company has incorporated a wholly owned subsidiary named CHD Armaan Realtech Pvt. Ltd, as a special propose vehicle, for development of the concerned project.

11. Employee Stock Option Scheme:

The Securities and Exchange Board of India (SEBI) has issued the (Employees Stock Options Scheme and Employees Stock Purchase Scheme) guidelines, 1999. In accordance with these guidelines, the excess of the market price of the underlying equity shares as on the date of the grant of the options over the exercise price of the option, including upfront payments, if any, is to be recognized as an expense and amortized on a straight line basis over the vesting period.

Details of options offered, granted, lapsed, vested and exercised are given below:

a) Total options offered The Company had not offered new options during the year

b) Options granted The Company has granted 3,75,588 Stock Options during the year (each Option carrying entitlement for one equity shares) at a price of Rs. 2/-each (face value)

c) The Pricing formula Rs. 2/-(face value of equity shares)

d) Options vested 3,61,357

e) Options exercised 2,96,067

f) Total No. of shares arising as a

result of exercise of Options 2,96,067

g) Options lapsed 65,291

h) Variation of terms of Options Nil

i) Money realized by exercisable

Options (Amt. in Rs.) 5,92,134/-

j) Total No. of Options in force 3,75,588

* The Company has received advance against employee stock options equivalent to ten percent of the face value i.e. Rs. 21- per share from the employees to whom options have been granted and has been availed thereby.

12. Micro, Small and Medium Enterprises:

The Company has not received any information from its suppliers under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures regarding their status, if any, relating to amounts unpaid as on 31st March, 2010 together with interest paid/payable as required under Micro, Small and Medium Enterprises Development Act, 2006 is not given.

13. Operating Lease:

The break up of the total minimal Lease Rental Expense /Income as per "AS-19 Lease" at March 31, 2010 is as follows:

14. Some of the balance of Debtors, Creditors, Advances and Loans are subject to confirmation / reconciliation.

15. Balance Sheet abstracts and Companys General business profile is attached herewith.

16. Previous years figures have been regrouped/rearranged, wherever necessary, to confirm this years classifications.


Mar 31, 2009

1. a) The Number of employees employed throughout the period, who were in receipt of or were entitled to receive remuneration aggregating to Rs.24,00,000/- (Rupees Twenty Four Lacs only) or more per annum were nil.

2. In the opinion of the Board, the value on realisation of current assets, loans & advances in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

3. Segment Information :

Company is operating in two segments, but is not giving segment-wise results because there is no reportable segment which has revenue/assets of more than required limit as per Accounting Standard (AS-17) on Segment Reporting.

4. Foreign Currency Transaction :

There is no transaction involving foreign currency except directors tour related to business promotion amounting to Rs. 2,00,964/- (P.Y. Rs. 5,16,700/-).

5. Contingent Liabilities

31.03.2009 31.03.2008

a) Contracts remaining to be executed on Capital Account (Net of advance and not provide for Rupees) to

be executed on capital Account - -

b) (Rs. In Lacs)

S. No Particulars 31.03.2009 31.03.2008

1. Claims against the Company not acknowledged as debt 191.37 103.76

2. Guarantee issued by the Banks on behalf of the company 715.91 231.39

3. Corporate guarantee given to Bank for providing secured loans to third party 595.00 595.00

6. A demand of Rs. 51,790/- is raised by the Sales Tax Authority for the Assessment year 1996-97 which is disputed and a case relating to the said Assessment Year is still pending before the Appellate Authority.

7. Deferred Tax :

The Accumulated net deferred tax liability is Rs. 32,82,465/- as on 31st March 2009. Provision for deferred tax assets for the year ended 31.03.2009 amounting Rs.1,54,738/- has been credited to Profit & Loss Account. The deferred tax Liabilities/assets arise due to timing difference on account of Depreciation on Fixed Assets. Deferred tax liabilities/Assets are reviewed as at each Balance Sheet date.

8. No provision has been made in respect of Municipal/Corporation tax for owned Properties/Flats in hand as assessment proceeding has not yet been finalised. The Municipal tax will be accounted for in the year of payment.

9. Some of the balance of Debtors, Creditors, Advances and Loans are subject to confirmation/reconciliation.

10. Quantitative details of material consumed/bought & sold as required by schedule VI of the Companies Act 1956 (a) Construction Division : There are so many items of different quantities like Cement, Bricks, steel, Badarpur & Rodi etc., details of which are as follows as on 31st March 2009. Information pursuant to Part II of schedule VI of Companies Act, 1956.

11. In respect of allotment of warrants of Rs. 40/- each, to be converted into equivalent Number of shares of Rs. 2/- each at a premium of Rs. 38/- per share. The allottees have not applied to get the warrants converted into equity shares. After giving due notice to the allottees, the Company has cancelled the allotment and forfeited 10% money already paid by the allottees of warrants.

12. The Company has received a License from The Director, Town & Country Planning for the total area of 123.875 acres for development of an integrated Township namely CHD City at Sector-45 Karnal. 37.812 Acres of land out of the 123.875 acres is not in the name of the company. However, the company holds all the rights relating to developing/selling of the said land.

13. Micro, Small and Medium Enterprises

The Company has not received any information from its suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as on 31st March, 2009 together with interest paid/payable as required under Micro, Small and Medium Enterprises Development Act, 2006 is not given.

 
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