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Notes to Accounts of Industrial & Prudential Investment Company Ltd.

Mar 31, 2015

1. SHARE CAPITAL

(a) Terms and Rights attached to equity shareholders

The Company has only One class of Equity Shares having par value of Rs. 10/- per share. Each holder of equity shares is entitled to one vote per share. 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. The Share holders have all other right as available to Equity Shareholders as per the provisions of the Companies Act, 2013, read together with the Memorandum and Articles of Association of the Company, as applicable.

(b) Holding Company

In accordance with Section 2(87) (i) of the Companies Act, 2013 Paharpur Cooling Towers Limited is a Holding Company as it is deemed to control the Composition of the Board of Directors.

2. CONTINGENT LIABILITIES AND COMMITMENTS As on As on 31-03-2015 31-03-2014

Contingent liabilities not provided for fixed asset (Net of Advances): 90 — Commitments:

Other Commitments — —

TOTAL 90 —

3.The Board of Directors for the current year recommend a Dividend of Rs.55 per share (Previous year Rs. 55 per share).

4.The investment activity is considered as a single segment in accordance with the Accounting Standard (AS-17) "Segment Reporting."

5.Related Party Disclosures:

A. Name of the related party and nature of relationship where control exists:

Name of the Party Nature of Relationship

Paharpur Cooling Towers Ltd. (Refer Note Holding Company No 2(c))

New Holding and Trading Company Limited Subsidiary Company

NOTES: (i) There is no provision for doubtful debts as at the end of the year in respect of related parties.

(ii) There are no amounts written off or written back during the year in respect of debts due from or to related parties.

(iii) Previous Year figures are shown within Brackets.

(iv) The related parties included in the various categories above, where transactions have taken place are given below:

Holding Company Paharpur Cooling Towers Limited

Key Management Personnel Mr. Gaurav Swarup - Managing Director Mr. A. Singhania - Chief Financial Officer Mr. Hirak Ghosh - Company Secretary

Relatives of Key Mrs. Bindu Swarup Management Personnel Mrs. Gyan Swarup Mrs. Parul Swarup Mr. Vikram Swarup

Associate Company KSB Pumps Limited

Enterprises over which Paharpur Corporation Limited Key management personnel Melvin Powell Vanaspati & Engineering having significant influence Industries Limited over the reporting enterprise exercise significant influence.

6.Earnings per Share

(a) The amount used as the numerator in calculating basic and diluted earnings per share is the Net Profit for the year disclosed in the Profit and Loss Account.

(b) The weighted average number of equity shares used as the denominator in calculating both basic and diluted earnings per share is 5,81,780.

7.Employee benefits expenses includes Rs.9/- (Previous year Rs. 7/-) incurred on staff welfare and provision for gratuity Rs.1846 (Previous year Rs. Nil).

8.The Company has provided Rs. 1000 thousands (Previous year Nil) towards expenditure on Corporate Social Resposibility Activities.

9.Previous year figures have been regrouped wherever necessary to conform current year classification.


Mar 31, 2014

1. Terms and Rights attached to equity shareholders

The Company has only One class of Equity Shares having par value of Rs. 10/- per share. Each holder of equity shares is entitled to one vote per share. 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. The Share holders have all other right as available to Equity Shareholders as per the provisions of the Companies Act, 1956, read together with the Memorandum and Articles of Association of the Company, as applicable.

NOTE - 2 - CONTINGENT LIABILITIES As at As at AND COMMITMENTS 31-03-2014 31-03-2013

Contingent liabilities not provided for: --- --- Commitments:

Purchase of Units of Mutual Fund --- 6,000

Other Commitments --- ---

TOTAL --- 6,000

NOTE - 3 Earnings per Share

(a) The amount used as the numerator in calculating basic and diluted earnings per share is the Net Profit for the year disclosed in the Profit and Loss Account.

(b) The weighted average number of equity shares used as the denominator in calculating both basic and diluted earnings per share is 5,81,780.

NOTE - 4

Employee benefits expenses includes Rs. 9 thousand (Previous year Rs. 7 thousand) Incurred on staff welfare.

NOTE - 5

During the previous year, the Company has settled a claim for fraudulent transfer of shares of the Company.

NOTE - 6

The Company has recognised the MAT Credit during the year to the extent of virtual certainity of taxable income in accordance with the prevailing tax laws.

NOTE - 7

Disclosures as per the revised Schedule VI has been given to the extent those are applicable to the Company.

NOTE - 8

Previous year figures have been regrouped wherever necessary to conform current year classification.


Mar 31, 2013

As at As at 31-03-2013 31-03-2012

NOTE - 1

CONTINGENT LIABILITIES AND COMMITMENTS

Contingent liabilities not provided for:

Commitments:

Purchase of Units of Mutual Fund 6,000

TOTAL 6,000

NOTE - 2

The investment activity is considered as a single segment in accordance with the Accounting Standard (AS-17) "Segment Reporting."

NOTE - 3

Earnings per Share

(a) The amount used as the numerator in calculating basic and diluted earnings per share is the Net Profit for the year disclosed in the Profit and Loss Account.

(b) The weighted average number of equity shares used as the denominator in calculating both basic and diluted earnings per share is 5,81,780.

NOTE - 4

Employee benefits expenses includes Rs. II- (Previous year Rs. 7/-) Incurred on staff welfare.

NOTE - 5

During the year, the Company has settled a claim for fraudulent transfer of shares of the Company.

NOTE - 6

The Company has recognised the MAT Credit during the year to the extent of virtual certainity of taxable income in accordance with the tax laws.

NOTE - 7

Disclosures as per the revised Schedule VI has been given to the extent those are applicable to the Company.

NOTE - 8

Previous year figures have been regrouped wherever necessary to conform current year classification.


Mar 31, 2012

NOTE - 1

Earnings per Share

(a) The amount used as the numerator in calculating basic and diluted earnings per share is the Net Profit for the year disclosed in the Profit and Loss Account.

(b) The weighted average number of equity shares used as the denominator in calculating both basic and diluted earnings per share is 581780.

NOTE - 2

Employee benefits expenses includes Rs. 7 Incurred on staff welfare.

NOTE - 3

Previous year figures have been regrouped wherever necessary to conform current year classification in accordance with revised Schedule VI to the Companies Act, 1956.


Mar 31, 2011

1. Contingent liabilities not provided for in respect of:

(i) Disputed Taxation Matters Rs. Nil (Previous year Rs. NIL ).

(ii) In respect of Shares partly paid-up Rs. 8,34,000 (Previous year Rs. 52,500/-)

(iii) Liability in respect of disputed property tax levied by Brihanmumbai Mahanagarpalika on the Society where in the Company is a member, the amount of which is not ascertainable.

2. The investment activity is considered as a single segment in accordance with the Accounting Standard (AS-17) "Segment Reporting".

3. Related Party Disclosure :

A. Name of the related party and nature of relationship where control exists : (As certified by the management.)

Name of the Party Nature of Relationship

New Holding and Trading Company Limited Subsidiary Company

Subsidiary Company New Holding And Trading Company Limited

Key Management Personnel Mr. A. V. Setalvad

Mr. A. R. Broacha

Relatives of Key Management Personnel. Mr. H. V. Setalvad Mrs. J. A. Setalvad

Individuals having significant influence over the enterprise. Mr. V. C. Vaidya Mr. Gaurav Swarup Mr. Vikram Swarup

Relatives of individual having significant influence over the enterprise. Mr. Mahendra Swarup Mrs. Bindu Swarup Mr. Gyan Swarup Mr. Parul Swarup

Enterprise over which key Management Personnel exercise significant influence. KSB Pumps Limited

Enterprises over which Individuals having significant influence over the reporting enterprise exercise significant influence. Paharpur Cooling Towers Limited

Paharpur Corporation Limited

Melvin Powell Vanaspati & Engineering Industries Limited

4. Earnings per Share

(a) The amount used as the numerator in calculating basic and diluted earnings per share is the Net Profit for the year disclosed in the Profit and Loss Account.

(b) The weighted average number of equity shares used as the denominator in calculating both basic and diluted earnings per share is 581780.

5. Previous year figures have been regrouped wherever necessary to conform current year classification.


Mar 31, 2010

1. Contingent liabilities not provided for in respect of:

(I) Disputed Taxation Matters Rs.Nil (Previous year Rs. 8,50,373/-). (ii) In respect of Shares partly paid-up Rs. 47,250/- (Previous year Rs. Nil)

2. The investment activity is considered as a single segment in accordance with the Accounting Standard (AS-17) "Segment Reporting".

3. Related Party Disclosures:

A. Name of the related party and nature of relationship where control exists:

Name of the Party Nature of Relationship

New Holding and Trading Company Limited Subsidiary Company

4. Earnings per Share

(a) The amount used as the numerator in calculating basic and diluted earnings per share is the Net Profit for the yeardisclosed in the Profit and Loss Account.

(b) The weighted average number of equity shares used as the denominator in calculating both basic and diluted earnings per share is 581780.

5 Previous years figures have been regrouped wherever necessary to conform current years classification.

 
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