Mar 31, 2016
b. Rights, preferences and restrictions attached to equity shares
The Company has only one type of equity share having par value of Rs. 10/- each per share. All shares rank pari passu with respect to dividend, voting rights and other terms. Each shareholder is entitled to one vote per share except, in respect of any shares on which any calls or other sums payable have not been paid. The Company pays and declares dividends in Indian Rupees. Whenever dividend is proposed by the Board of Directors, the same is subject to approval of shareholders in the ensuing Annual General Meeting, except in case of interim dividend, if any. The repayment of equity share capital in the event of liquidation and buy back of shares are possible subject to prevalent regulations. In the event of liquidation, normally the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
Texmaco has, in terms of a share purchase agreement dated July 20, 2013, agreed to purchase 19,37,960 equity shares held by the erstwhile promoters of the company. However, acquisition of only 9,14,575 equity shares (out of the above) has been completed till 31.03.2016, which have been taken into account while calculating Texmacoâs 42.87% shareholding in the company mentioned above. After acquisition of balance 10,23,385 shares Texmaco holding will increase to 49.07%.
As per the records of the Company including its register of shareholders / members and other declaration received from the shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares.
d. Aggregate number of bonus shares issued, shares issued for consideration other than cash and shares bought back during the period of five years immediately preceding the reporting date : Nil
1 Bank guarantees
Based on contractual agreements with customers the company has issued bank guarantees aggregating Rs.365.40 crores (PY Rs.377.44 crores). The management believes that none of the bank guarantees will be cashed by any of the customers.
2 Details of dues to micro, small and medium enterprises defined under the MSMED Act, 2006
The company has not received any information from the suppliers regarding there status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosure, if any, relating to the amount paid as at the year end together with interest payable/paid as required under the said act has not been furnished.
3 Disclosure as required under Clause 32 of listing agreement
There is no reportable amount of Loans and advances (excluding advance towards equity) in the nature of loans given to Subsidiaries, Joint Ventures and Associates.
4 During the year company has reconciled majority of its trade receivables/loans and advances. Pursuant to such reconciliation, the company has made a provision for bad debts of Rs. 5477.21 lacs (previous year Rs.1621.05 lacs) in statement of profit & loss for the year ended 31st March 2016. Considering that these trade receivable/loans & advances are pertaining to previous periods before the current management took over, an equivalent amount has been transferred from balance surplus in statement of profit & loss of the earlier years. Considering the above, the same has been classified as an exceptional item.
5 In the opinion of the Board and to the best of their knowledge and belief, the value on realization of loans, advances and current assets in the ordinary course of business will not be less than the amount at which they are stated in the balance sheet.
6 In the opinion of the management except for matters as mentioned above, there are no impairment indicator and as such the impairment exercise has not been carried out by the management.
7 At board meeting held on 31st August 2015, a change has been made in composition of Board of Directors by appointing four additional directors as a nominee from Texmaco Rail & Engineering Limited, after the change Texmaco Rail & Engineering Limited controls the composition of Board of Directors and has become the holding company of Kalindee Rail Nirman (Engineers) Limited.
8 Employee benefits
Defined Benefit Plan (Gratuity Funded and Leave Encashment Non-funded) - As per Actuarial Valuation on 31.03.2016.
The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days salary (last drawn salary) for each completed year of service. The Scheme is funded with an insurance company in the form of a qualifying insurance policy.
Earned leave not availed during the year can be accumulated with subsequent year up to maximum 90 days. The earned leave accumulated beyond 90 days can be encashed at any point of time.
The following tables summaries the components of net benefit expense recognized in the statement of profit and loss and the funded status and amounts recognized in the balance sheet for the plan.
a) Disclosure in respect of previous three annual periods as required by paragraph 120n of Accounting Standards - 15 "Employee Benefits" is not presented as the management considers it impracticable in absence of requisite information.
b) The expected return on plan assets has been determined considering several applicable factors mainly the composition of plan assets held, associated risks of assets management, historical results of returns and policies for plan assets.
c) The estimates of future salary increase considered in actuarial valuation take into account inflation, seniority, promotions and other relevant factors such as supply and demand factors in the employment market.
d) Based on the Guidance Note from the Institute of Actuaries of India, the Company''s Actuary has reliably measured the provident fund liability in respect of Provident Fund (Trust) and there is no shortfall.
e) Defined Contribution Plan
Employer''s contribution to Provident Fund and Other Funds aggregating to Rs.11,578,129 (Previous year Rs.9,634,547) has been included under Note 21 - Employee benefit expense.
e) Actuarial valuation for liability towards Gratuity & Leave encashment started from the current financial year 2015-2016.
9 Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification/disclosure.
Mar 31, 2015
1. Details of dues to micro and small enterprises defined under the
MSMED Act, 2006
The company has not received any information from the suppliers
regarding there status under the Micro, Small and Medium Enterprises
Development Act, 2006. Hence disclosure, if any, relating to the amount
paid as at the year end together with interest payable/paid as required
under the said act has not been furnished.
2. Segment information
The company's operations predominantly relates to construction as EPC
contractors for railway sector and there is no segregated supply
business. Accordingly during the current year, the financials of the
company represent a single primary segment (railway construction work),
and therefore there are no additional disclosures to be provided under
Accounting Standard 17 "Segment Reporting".
3. In the opinion of the Board and to the best of their knowledge and
belief, the value on realisation of loans, advances and current assets
in the ordinary course of business will not be less than the amount at
which they are stated in the balance sheet.
4. Previous year's figures have been regrouped/reclassified wherever
necessary to correspond with the current year's
classification/disclosure
5. The Company is in the process of reconciliation of its trade
receivables/loans & advances subsequent to the change of management.
Pursuant to such reconciliation, the company has made a provision for
bad debts of Rs 1621.05 lacs in its statement of profit & loss account
for the year ended 31st March 2015. This provision relates to trade
receivables prior to the change of management, and disclosed the same
as exceptional items. Further adjustments, if any which are
undetermined presently, arising on completion of this reconciliation
shall be adjusted in the subsequent periods.
6. In the opinion of the management except for matters as mentioned
above, there are no impairment indicator and as such the impairment
exercise has not been carried out by the management.
7. Employee benefits
Defined Benefit Plan (Gratuity Funded and Leave Encashment Non-funded)
- As per Actuarial Valuation on 31.03.2015
The Company has a defined benefit gratuity plan. Every employee who has
completed five years or more of service gets a gratuity on departure at
15 days salary (last drawn salary) for each completed year of service.
The Scheme is funded with an insurance company in the form of a
qualifying insurance policy. Earned leave not availed during the year
can be accumulated with subsequent year upto maximum 90 days. The
earned leave accumulated beyond 90 days can be encashed at any point of
time.
a) The expected return on plan assets has been determined considering
several applicable factors mainly the composition of plan assets held,
associated risks of assets management, historical results of returns
and policies for plan assets.
b) The estimates of future salary increase considered in actuarial
valuation take into account inflation, seniority, promotions and other
relevant factors such as supply and demand factors in the employment
market.
c) Based on the Guidance Note from the Institute of Actuaries of India,
the Company's Actuary has reliably measured the provident fund
liability in respect of Provident Fund (Trust) and there is no
shortfall.
d) Defined Contribution Plan Employer's contribution to Provident Fund
and Other Funds aggregating to Rs. 9,634,547 (Previous year Rs. 3,219,366)
has been included under Note 22 - Employee bebefit expense.
e) Acturial valuation for liability towards Gratuity & Leave encashment
started fron the current financial year 2014-2015.
Mar 31, 2013
1. Terms/rights attached to equity shares:
The company has only one class of share capital, i.e. equity shares
having face value of Rs 10/- per share. Each holder of equity share is
entitled to one vote per share
2. Loans repayable on demand from banks include fund based working
capital viz cash credits and demand loans. The secured portion of
working capital facilities and other non fund based facilities viz bank
guarantees and letters of credit are secured by :
Property (land & building) at Flat no. 103 measuring 65.02 sq metres,
Ground Floor, Plot no. C-4-A, Silver Oak, Sawai Jai Singh Highway, Bani
Park, Jaipur, Rajasthan, Room measuring 135.62 sq metres, Basement,
Plot no. C-4-A, Silver Oak, Sawai Jai Singh Highway, Bani Park, Jaipur,
Rajasthan, Flat no. C-102 measuring 1120 sq feet, First Floor, Wing C,
Gautam Complex, Plot no. 17/18 Sector-11, CBD Belapur, Navi Mumbai,
Flat no. C-104 measuring 1120 sq. feet, First Floor, Wing C, Gautam
Complex, Plot no. 17/18, Sector-11, CBD Belapur, Navi Mumbai, 206 Sec
55 Gurgaon, Hypothecation of inventories, book debts and receivables &
personal gurantee of Directors Sh R D Sharma, Kalpana Gemini and Sunita
Gemini.
3. CONTINGENT LIABILITIES COMMITMENTS
Contingent liabilities and March 31,2013(Rs.)
commitments
(to the extent not
provided for)
(I) Contingent Liabilities
(a) Bank Guarantees The contingent liabilities towards
Guarantees given to Railways &
other Customers for Rs. 140.85
crore & by State Bank of India,
New Delhi; Rs. 71.01 crore from
State Bank of Patiala, New Delhi;
Rs. 4.48 crore by Yes Bank Ltd.,
New Delhi; Rs. 28.28 crore by Axis
Bank Ltd., New Delhi; Rs. 0.92 crore
by The Royal Bank of Scotland crore
N.V., New Delhi and Rs. 4.00 crore
by HDFC Bank Ltd., New Delhi;
Rs. 12.75 crore & 21.03 crore
Bangladesh Taka by Standard
Chartered Bank, New Delhi, Rs.
8.13 crore by Indusind Bank Ltd.
against which company has
provided part security by way
of cash margin.
(b) Service tax liability
(excluding penalty) 11.82 CR
that may arise in respect
of which the
company is in appeal
(c) Income tax liability
excluding penalty) 0.37CR
that may arise in respect
of which the
company is in appeal
Contingent liabilities and March 31,2012(Rs.)
commitments
(to the extent not
provided for)
(I) Contingent Liabilities
(a) Bank Guarantees The contingent liabilities towards
Guarantees given to Railways &
other Customers for Rs. 86.04 crore
& $ 0.05 crore by State Bank of
India, New Delhi; Rs. 65.38 crore
from State Bank of Patiala, New
Delhi; Rs. 14.92 crore by Yes Bank
Ltd., New Delhi; Rs. 19.07 crore by
Axis Bank Ltd., New Delhi; Rs. 1.00
by The Royal Bank of
Scotland N.V., New Delhi and
Rs.1.61 crore by HDFC Bank Ltd.,
New Delhi; Rs. 4.10 crore & 21.03
crore Bangladesh Taka by
Standard Chartered Bank, New
Delhi against which company
has provided part security by
way of cash margin.
(b) Service tax liability
(excluding penalty) Â
that may arise in respect
of which the
company is in appeal
(c) Income tax liability
excluding penalty) Â
that may arise in respect
of which the
company is in appeal
Notes
1. The company does not expect any reimbursements in respect of the
above contingent liabilities.
2. It is not practicable to estimate the timing of cash outflows, if
any, inrespect of matters above pending resolution of the
arbitration/appellate proceedings.
1. The Balance Sheet as on March 31,2013 and the Statement of Profit &
Loss for the year ended March 31,2013 are drawn and presented as per
the new format prescribed under schedule VI to the Companies Act 1956 .
2. Additional liability (if any) for taxes, duties under direct and
indirect taxes as well as deposits thereof are made under protest and
income of refunds for pending assessments / appeals / revisions /
reference as well as financial effect for pending court cases of claims
are accounted for at the time of final settlement/decision.
4. Contingent Liabilities:
a) Claims against company to be acknowledged as Debts. - Nil
b) Uncalled liability on share partly paid. - Nil
c) Arrear for fixed cumulative dividend. - Nil
d) Contracts remaining to be executed on capital account, which is not
provided for. - Nil
e) The contingent liabilities towards Guarantees given to Railways &
other Customers for Rs.140.85 crores by State Bank of India, New Delhi
(previous year Rs. 86.04 crores & $ 0.05 crores); Rs. 71.02 crores from
State Bank of Patiala, New Delhi (previous year Rs.65.38 crores); Rs.
4.48 crores by Yes Bank Ltd., New Delhi (previous year Rs. 14.92
crores); Rs. 28.28 crores by Axis Bank Ltd., New Delhi (Previous year
Rs. 19.07 crores) ; Rs. 0.92 crores by The Royal Bank of Scotland N.V.,
New Delhi (previous year Rs. 1.00 crores ); Rs. 4.00 crores by HDFC
Bank Ltd., New Delhi (previous year Rs. 1.61crores); Rs. 12.75 crores &
BDT 21.03 crores by Standard Chartered Bank, New Delhi (previous year
Rs. 4.10 crores & BDT 21.03 crores) Rs. 8.14 crores by IndusInd Bank,
New Delhi against which company has provided part security by way of
cash margin.
5. In the opinion of Board of Directors, value on realization of
assets, loans and Advances in the ordinary course of business, will not
be less than the value of which they are stated in the Balance Sheet.
6. Gratuity:
Company has obtained Actuarial Valuation in respect of Gratuity
pursuant to AS-15 issued by ICAI, New Delhi.
7. Segment Reporting
The company's operations predominantly relates to construction as EPC
contractors for railway sector and there is no segregated supply
business.
Accordingly during the current year, the financials of the company
represent a single primary segment (railway construction work), and
therefore there are no additional disclosures to be provided under
Accounting Standard 17 "Segment Reporting".
8. Quantitative Detail
The company is engaged as EPC contractors. Such activity cannot be
expressed in any generic unit. Hence it is not possible to give the
quantitative details of work executed as required under paragraphs 3,
4C and 4D of part II of Schedule VI of the Companies Act, 1956.
9. The company has not received any information from the suppliers
regarding there status under the Micro Small and Development Act 2006.
Hence disclosure, if any, relating to the amount paid as at the year
end together with interest payable/paid as required under the said act
has not been furnished.
10. Figures of previous year have been regrouped and rearranged
wherever deemed necessary.
Mar 31, 2012
NOTE 1 A
Terms/rights attached to equity shares:
The company has only one class of share capital, i.e. equity shares
having face value of Rs 10/- per share. Each holder of equity share is
entitled to one vote per share
6(i) Loans repayable on demand from banks include fund based working
capital viz cash credits and demand loans. The secured portion of
working capital facilities and other non fund based facilities viz bank
guarantees and letters of credit are secured by:
Property (land & building) at Flat no. 103 measuring 65.02 sq metres,
Ground Floor, Plot no. C-4-A, Silver Oak, Sawai Jai Singh Highway, Bani
Park, Jaipur,Rajasthan, Room measuring 135.62 sq metres,Basement,Plot
no. C-4-A, Silver Oak, Sawai Jai Singh Highway, Bani Park, Jaipur,
Rajasthan, Flat no. G102 measuring 1120 sq feet, First Floor, Wing C,
Gautam Complex, Plot no. 17/18 Sector-1 1, CBD Belapur, Navi Mumbai,
Flat no. C-104 measuring 1 120 sq. feet , First Floor, Wing C, Gautam
Complex , Plot no. 17/18, Sector-1 1, CBD Belapur, Navi Mumbai,
Hypothecation of inventories, book debts and receivables & personal
gurantee of Director Sh R D Sharma & Sh Arvind Gemini who got expired
on 21/06/201 2
NOTE 1 NOTES TO THE ACCOUNTS:
1. The Balance Sheet as on March 31, 2012 and the statement of Profit
& Loss for the year ended March 31, 201 2 are drawn and presented as
per the new format prescribed under schedule VI to the Companies Act
1956 applicable for the financial year commencing from April 1, 2011.
The amount pertaining to previous financial year have been recast to
conform with the new format.
2. Additional liability (if any) for taxes, duties under direct and
indirect taxes as well as deposits thereof are made under protest and
income of refunds for pending assessments / appeals / revisions /
reference as well as financial effect for pending court cases of claims
are accounted for at the time of final settlement/decision.
3. Contingent Liabilities:
a) Claims against Company to be acknowledged as Debts. - Nil
b) Uncalled liability on share partly paid. - Nil
c) Arrear for fixed cumulative dividend. - Nil
d) Contracts remaining to be executed on capital account, which are not
provided for. - Nil
e) The contingent liabilities towards Guarantees given to Railways &
other Customers for Rs. 86.04 crore INR & $ 0.05 crore by State Bank of
India, New Delhi; Rs. 65.38 crore from State Bank of Patiala, New Delhi;
Rs.14.92 crore by Yes Bank Ltd., New Delhi; Rs. 19.07 crore by Axis Bank
Ltd., New Delhi; Rs.1.00 crore by The Royal Bank of Scotland N.V., New
Delhi, Rs. 1.61 crore by HDFC Bank Ltd., New Delhi; and Rs. 4.10 cr INR &
21.03 crore Bangladesh Taka) by Standard Chartered Bank, New Delhi
(Previous Year Rs. 98.32 crore, Euro 677,072.92, Taka 68,000,000 & $
908,567 by State Bank of India, New Delhi; Rs. 68.24 crore from State
Bank of Patiala, New Delhi; Rs. 1 3.78 crore by Yes Bank Ltd., New Delhi;
Rs. 19.02 crore by Axis Bank Ltd., New Delhi; Rs. 7.1 8 crore by The Royal
Bank of Scotland N.V., New Delhi, Rs. 2.1 8 crore by HDFC Bank Ltd., New
Delhi; and Rs. 0.34 crore by Standard Chartered Bank, New Delhi)
againstwhich Company has provided part security by way of cash margin.
4. In the opinion of Board of Directors, value on realisation of
assets, loans and Advances in the ordinary course of business, will not
be less than the value of which they are stated in the Balance Sheet.
5. Gratuity:
Company has obtained Actuarial Valuation in respect of Gratuity
pursuant to AS-15 issued by ICAI, New Delhi.
6. Segment Reporting
The company's operations predominantly relates to construction as EPC
contractors for railway sector and there is no segregated supply
business.
Accordingly during the current year, the financials of the company
represent a single primary segment (railway construction work), and
therefore there are no additional disclosures to be provided under
Accounting Standard 17 "Segment Reporting".
7. Quantitative Detail
The company is engaged as EPC contractors. Such activity cannot be
expressed in any generic unit. Hence it is not possible to give the
quantitative details of work executed as required under paragraphs 3,
4C and 4D of part II of Schedule VI of the Companies Act, 1956.
8. Deffered Taxation
During the year, the company has accounted for Rs.13.47 lacs [previous
year Rs.38.57 lacs] towards deffered tax liability and the same has been
debited to Profit & Loss account of the current year.
9. Disclosures in respect of joint ventures pursuant to Accounting
Standard (AS) 27 " Financial Reporting of Interests in Joint Ventures"
10. The company has not received any information from the suppliers
regarding there status under the Micro Small And Development Act 2006.
Hence disclosure, if any, relating to the amount paid as at the year
end together with interest payable/paid as required under the said act
has not been furnished.
11. Figures of previous year have been regrouped and rearranged
wherever deemed necessary.
Mar 31, 2011
1 Additional liability (if any) for taxes, duties under direct and
indirect taxes as well as deposits thereof are made under protest and
income of refunds for pending assessments / appeals / revisions /
reference as well as financial effect for pending court cases of claims
are accounted for at the time of final settlement/decision.
2. Contingent Liabilities:
a) Claims against Company to be acknowledged as Debts. - Nil
b) Uncalled liability on share partly paid. - Nil
c) Arrear for fixed cumulative dividend. - Nil
d) Contracts remaining to be executed on capital account, which are not
provided for. - Nil
e) The contingent liabilities towards Guarantees given to Railways &
other Customers for Rs. 98.32 crore, Euro 677,072.92, Taka 68,000,000 &
$ 908,567 by State Bank of India, New Delhi; Rs. 68.24 crore from State
Bank of Patiala, New Delhi; Rs. 13.78 crore by Yes Bank Ltd., New
Delhi; Rs.19.02 crore by Axis Bank Ltd., New Delhi; Rs. 7.18 crore by
The Royal Bank of Scotland N.V., New Delhi and Rs. 2.18 crore by HDFC
Bank Ltd., New Delhi; Rs. 0.34 crore by Standard Chartered Bank, New
Delhi (Previous year Rs. 61.40 crore by State Bank of India,
New Delhi; Rs. 42.55 crore by State Bank of Patiala, New Delhi; Rs.
0.63 crore by Yes Bank Ltd., New Delhi; Rs.10.44 crore by Axis Bank
Ltd., New Delhi; Rs. 5.98 crore by The Royal Bank of Scotland N.V., New
Delhi and Rs. 2.29 crore by HDFC Bank Ltd., New Delhi) against which
Company has provided part security by way of cash margin.
3. In the opinion of Board of Directors, value on realisation of
assets, loans and Advances in the ordinary course of business, will not
be less than the value of which they are stated in the Balance Sheet.
4. Gratuity:
Company has obtained Actuarial Valuation in respect of Gratuity
pursuant to AS-15 issued by ICAI, New Delhi.
5. Segment Reporting
The company's operations predominantly relates to construction as EPC
contractors for railway sector and there is no segregated supply
business.
Accordingly during the current year, the financials of the company
represent a single primary segment (railway construction work), and
therefore there are no additional disclosures to be provided under
Accounting Standard 17 "Segment Reporting".
6. Quantitative Detail
The company is engaged as EPC contractors. Such activity cannot be
expressed in any generic unit.Hence it is not possible to give the
quantitative details of work executed as required under paragraphs 3,
4C and 4D of part II of Schedule VI of the Companies Act, 1956.
7.Deffered Taxation
During the year, the company has accounted for Rs. 38.57 lacs [previous
year Rs. 43.43 lacs] towards deffered tax liability and the same has
been debited to Profit & Loss account of the current year. Deffered
Tax liability as on 01/04/2010 Rs. 146.33
Add: Provision made during the year Rs. 38.57
Total as on 31 March 2011 Rs. 184.90
8. The company has not received any information from the suppliers
regarding there status under the Micro Small And Development Act 2006.
Hence disclosure, if any, relating to the amount paid as at the year
end together with interest payable/paid as required under the said act
has not been furnished
9. Figures of previous year have been regrouped and rearranged
wherever deemed necessary.
Mar 31, 2010
1. Additional liability (if any) for taxes, duties under direct and
indirect taxes as well as deposits thereof are made under protest and
income of refunds for pending assessments/appeals/revisions/reference
as well as financial effect for pending court cases of claims are
accounted for at the time of final settlement/decision.
2. Contingent Liabilities:
(a) Claims against Company to be acknowledged as Debts. - Nil
(b) Uncalled liability on share partly paid. - Nil
(c) Arrear for fixed cumulative dividend. - Nil
(d) Contracts remaining to be executed on
capital account, which are not provided for. - Nil
(e) The contingent liabilities towards Guarantees given to Railways &
other Customers for Rs. 61.40 crore by State Bank of India, New Delhi;
Rs. 42.55 crore from State Bank of Patiala, New Delhi; Rs. 0.63 crore
by Yes Bank Ltd., New Delhi; Rs. 10.44 crore by Axis Bank Ltd., New
Delhi; Rs. 5.98 crore by Royal Bank of Scotland N.Y, New Delhi and Rs.
2.29 crore by HDFC Bank Ltd., New Delhi (Previous year Rs. 43.99 crore
by State Bank of India, New Delhi; Rs. 34.1 7 crore by State Bank of
Patiala, New Delhi; Rs. 8.78 crore by Yes Bank Ltd., New Delhi; Rs.
15.71 crore by Axis Bank Ltd., New Delhi; Rs. 4.14 crore by Royal Bank
of Scotland N.V., New Delhi and Rs. 5.03 crore by HDFC Bank Ltd., New
Delhi) against which Company has provided part security by way of cash
margin.
(f) The contingent liability towards Sales tax Demand relevant to
financial year 2003-2004 amounting to Rs. 25.30 lacs and for the year
2004-2005 amounting to Rs. 18.85 lacs have not been provided in books
of accounts due to pending appeals in both the years as it has been
disputed by the company and is very likely to be waived off.
3. In the opinion of Board of Directors, value on realisation of
assets, loans and Advances in the ordinary course of business, will not
be less than the value of which they are stated in the Balance Sheet.
4. Out of the 0.5% Unsecured FCCB [$5,200,000] which were due for
redemption in 2012, equity share of Rs. 10/- each [numbering 1,022,356]
have been issued at a premium of Rs. 150/- per share to the extent of
bonds $3,700,000. The exchange rate for the purpose of conversion of
equity shares has been taken as 44.21 as per terms of the offer letter.
The remaining FCCB [$1,500,000] have been bought back by the company at
a discounted value of $1,080,000 and the remaining $420,000 has been
shown as other income of the company, after conversion in equivalent
Indian rupee.
5. Gratuity:
Company has obtained Actuarial Valuation in respect of Gratuity
pursuant to AS-15 issued by ICAI, New Delhi.
6. Segment Reporting
The companys operations predominantly relates to construction as EPC
contractors for railway sector and there is no segregated supply
business.
Accordingly during the current year, the financials of the company
represent a single primary segment (railway construction work), and
therefore there are no additional disclosures to be provided under
Accounting Standard 1 7 "Segment Reporting".
7. Quantitative Detail
The company is engaged as EPC contractors. Such activity cannot be
expressed in any generic unit. Hence it is not possible to give the
quantitative details of work executed as required under paragraphs 3,
4Cand 4D of part II of Schedule VI of the Companies Act, 1956.
8. Deferred Taxation
During the year, the company has accounted for Rs. 43.47 lacs [previous
year Rs. 42.99 lacs] towards deferred tax liability and the same has
been debited to Profit & Loss account of the current year.
Deferred Tax liability as on 01/04/2009 : Rs. 102.90
Add: Provision made during the year : Rs. 43.43
Total as on 31st March 2010 : Rs. 146.33
9. The company has not received any information from the suppliers
regarding there status under the Micro Small And Development Act 2006.
Hence disclosure, if any, relating to the amount paid as at the year
end together with interest payable/paid as required under the said act
has not been furnished
10. Figures of previous year have been regrouped and rearranged
wherever deemed necessary.
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article