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Notes to Accounts of Crane Infrastructure Ltd.
Mar 31, 2015
A) All the figures are rounded off to the nearest rupee.
b) No claims under Interest on delayed payments to Small Scale and
Ancillary Industrial Undertakings are outstanding with the Company.
c) In the opinion of the Board of Directors, Current Assets, loans and
advances as at 31st March 2015 are expected to produce on realization
in the ordinary course of the company's business, at least the amounts
at which they are stated in the Balance Sheet. .
d) The Revaluation Reserve acquired from Virat Crane Industries Ltd,
which is created in the year 2006-07 on revaluation of Fixed Assets, is
charged / debited by Rs. 18,87,577- being the difference between the
depreciation computed on revalued buildings and the written down value
of building before revaluation.
e) The Company has changed the Accounting Policy on Providing for
Depreciation of Fixed Assets in line with the changes in Provisions of
Companies Act, 2013 [Refer Accounting Policy 1-F]. Consequent to the
change, the amount of depreciation charged to Statement of Profit and
Loss during the" year is lower by Rs.5.42 lakhs for the year ended
31.03.2015. Further an amount of Rs.9.42 lakhs being the opening
written down value of the Assets whose useful life has become Rs. Nil
as per the transitional provision of Schedule-II of the Companies Act,
2013 has been adjusted to the Opening Balance of Profit and Loss
account under the head Reserves and Surplus.
f) The difference between the Demerger Reserve and Shares allotted
amounting to Rs.3,70,86,141/- has been treated as Goodwill in the books
g) Disclosure requirements as per Accounting Standards prescribed
under Companies Act, 201