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Notes to Accounts of Empee Distilleries Ltd.

Mar 31, 2015

The Company has dosed the accounting year on 31.03.2015 for 18 months period from 01,10.2013 to 31.03.2015.

1. Contingent Liabilities, Guarantees & Capital commitments

A. Contingent Liabilities (Rs. In Lakhs)

Particulars 31.03.2015 30.09.2013

a) Claims against the company not — - acknowledged as debts

b) Disputed Income tax demand 714.68 714.68

B. Capital Commitments (Rs. In Lakhs)

Particulars 31.03.2015 30.09.2013

Estimated amount of capital contracts - 654.96 remaining to be executed

2. Employee Benefits

As per Accounting Standard 15 "Employee Benefits", the disclosures as defined in the Accounting Standard are given below:

a) Defined Contribution Plans: Contribution to defined contribution plan recognized as expenses for the year is amount to Rs. 132.59 Lakhs (previous year Rs.69.58 Lakhs) pertaining to employers'' contribution to provident fund, Employees State Insurance Funds,Gratuity fund.

b) Defined Benefit Plans:

Leave encashment:

The company has dispensed off the leave encashment policy during the current period; hence no provision had been recognized in the books of accounts for the period.

Gratuity:

The Company operates gratuity plan wherein every employee is entitled to the benefit equivalent to 15 days salary (includes dearness allowance) last drawn for each completed year of service. The same is payable on termination of service, or retirement, or death whichever is earlier. The benefit vests after five years of continuous service.

3. Sundry Creditors and Debtors balances are subject to confirmation by the parties concerned

4. Trade Deposits and advance from customer includes Rs.90.20 lakhs (Previous year Rs.1306.65 lakhs) received during 2013-15.

5. Related party transactions

Related Parties

Subsidiary Company

Empee Sugars & Chemicals Limited EDI Properties Limited Appolio Distilleries Private Limited

Fellow Subsidiary Company Empee Power Company (India) Limited Appollo Wind Energy Pvt. Ltd

Key Management Personnel Mr.M.P.Purushothaman Chairman Mr.Shaji Purushothaman Director Ms.Nisha Purushothaman Jt.Mg. Director & Vice Chair Person

Relatives of Key Management Personnel Ms.Sheena.Purushothaman

Other related parties Empee Holdings Limited Empee International Hotels & Resorts Limited South (India) Hotels Pvt Ltd Appollo Alchobev Limited Aruna Exports Pvt Ltd Empee Hotels Limited Aruna Constructions (India) Limited Empee Agro Farm Products Pvt Ltd Empee Marine Products Limited Appollo Beers Pvt Ltd Empee Leasing & Finance Limited Empee Communications Limited Universal Spirits Ltd Empee Construction Company Ltd Empee Power & Infrastructure Pvt Ltd Empee Packaging Industries Aruna Constructions Empee Hospitality Pvt. Ltd


Sep 30, 2013

1.1 Contingent Liabilities, Guarantees & Capital commitments

A. Contingent Liabilities

(Rs.in Lakhs)

Particulars 30.09.2013 30.09.2012

a) Claims against the company not acknowledged as debts

b) Disputed Income tax demand 714.68 560.58

B. Capital Commitments (Rs.in Lakhs)

Particulars 30.09.2013 30.09.2012

Estimated amount of capital contracts remaining 654.96 1176.85

1.2 Employee Benefits

As per Accounting Standard 15 "Employee Benefits", the disclosures as defined in the Accounting Standard are given below:

a) Defined Contribution Plans: Contribution to defined contribution plan , recognized as expenses for the year is amount to Rs. 69.58 Lakhs (previous year Rs.96.81 Lakhs) pertaining to employers'' contribution to provident fund, Employees State Insurance Funds,Gratuity fund.

b) Defined Benefit Plans:

Leave encashment:

The company has dispensed off the leave encashment policy during the current period; hence no provision had been recognized in the books of accounts for the period.

Gratuity:

The Company operates gratuity plan wherein every employee is entitled to the benefit equivalent to 15 days salary (includes dearness allowance) last drawn for each completed year of service. The same is payable on termination of service, or retirement, or death whichever is earlier. The benefit vests after five years of continuous service.

1.3 Sundry Creditors and Debtors balances are subject to confirmation by the parties concerned

1.4 Trade Deposits and advance from customer includes Rs.1306.65 lakhs (Previous year Rs.1661.19 lakhs) received from TASMAC on adhoc basis during the month of September 2013.

1.5 Related party transactions Related Parties

Subsidiary Company

Empee Sugars & Chemicals Limited

EDL Properties Limited

Appollo Distilleries Private Limited

Fellow Subsidiary Company

Empee Power Company (India) Limited Appollo Wind Energy Pvt. Ltd

Key Management Personnel

Mr.M.P.Purushothaman Chairman

Ms.Nisha Purushothaman Jt.Mg. Director & Vice Chair Person

Mr.Shaji Purushothaman Director

Relatives of Key Management Personnel Ms.Sheena.Purushothaman

Other related parties

Empee Holdings Limited

Empee International Hotels & Resorts Limited

South (India) Hotels Pvt Ltd

Appollo Alchobev Limited

Aruna Exports Pvt Ltd

Empee Hotels Limited

Aruna Constructions (India) Limited

Empee Agro Farm Products Pvt Ltd

Empee Marine Products Limited

Appollo Beers Pvt Ltd

Empee Leasing & Finance Limited

Empee Communication Limited

Universal Spirits Ltd

Empee Construction Company Ltd

Empee Power & Infrastructure Pvt Ltd

Empee Packaging Industries

Aruna Constructions

Empee Hospitality Pvt. Ltd

EDL Marketing Pvt. Ltd

1.6 The company is in the process of appointing Company Secretary

1.7 Figures for the previous year have been regrouped / reclassified wherever necessary.


Mar 31, 2010

1. Contingent Liabilities

a) Claims against the company not acknowledged as debts: Rs.35 Lacs (Previous year Rs.87 lacs)

b) Disputed Income tax demand Rs.674 lakhs (previous year Rs.674 lacs)

c) Disputed sales tax demand Rs. 1240 lacs (previous year Rs. 1640 lacs)

2. Estimated amount of capital contracts remaining to be executed is Rs.2819.03 lacs (previous year Rs.2331.61 lacs).

3. Balances in some of the parties accounts are subjectto confirmation.

4. In the absence of receipt of information the small scale industrial status from the parties, the details of names of small scale industrial undertaking to which the company owe any sum together with interest outstanding for more than 30 days could not be ascertained.

5. Related party transactions

Related Parties

Subsidiary Companies

Empee Sugars & Chemicals Limited

EDL Properties Private Limited

Fellow Subsidiary Company

Empee Power Company (India) Limited

Key Management Personnel

Mr.M.P.PurushothamanChairman Mr.Shaji PurushothamanManaging Director Ms.Nisha PurushothamanJoint Managing Director

Relatives of Key Management Personnel

Ms.Sheena.Purushothaman

Other related parties

Empee Holdings Limited

Empee International Hotels & Resorts Limited

South (India) Hotels Pvt Ltd

Appollo Alchobev Limited

Aruna Exports Pvt Ltd

Empee Hotels Limited

Aruna Constructions (India) Limited

Empee Agro Farm Products Pvt Ltd

Empee Marine Products Limited

Appollo Wind Energy Pvt Limited

Appollo Bears Pvt Ltd

Empee Leasing & Finance Limited

Shainvest Holdings Ltd

Universal Spirits Ltd

Empee Construction Company Pvt Ltd

Empee Power & Infrastructure Pvt Ltd

Empee Packaging Industries

Aruna Constructions

6. Employees cost include Rs.Rs.65.66 lakhs being provision for gratuity as per actuarial valuation of which Rs.4.75 lakhs is for the current year and the balance of Rs.60.91 lakhs is relating to earlier years.

 
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