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Notes to Accounts of Kaveri Seed Company Ltd.

Mar 31, 2014

1. Capital Commitments

Estimated amount of contracts(net of advances) remaining to be executed on capital account and not provided for Rs.808.37 (282.25)Lakhs.

2. Contingent Liabilities and Commitments.

a) Contingent Liabilities

Claims against the company not acknowledged as debts Rs.146.65 Lakhs (Rs. 150.57 Lakhs) This comprise.

i) Tax demands disputed by the Company relating to disallowances/additions of fiscal benefits, pending before various judicial forums and tax authorities, aggregating to Rs. 22.36 Lakhs (Rs. 22.36 Lakhs)

ii) Other matters not related to Tax aggregating to Rs.10.75 Lakhs (Rs.10.75 Lakhs).

iii) Bank Gurantees Rs.113.54 Lakhs(Rs.117.46 Lakhs)

3. Related Parties Disclosure:

Key Managerial Persons and their relatives

Mr. G.V.Bhaskar Rao

Mrs. G. Vanaja Devi

Mr. R. Venumanohar Rao

Mr. C. Vamsheedhar

Mr. C. Mithun Chand

Mr. G.Pawan

Mrs. G. Madhusree

G.V.Bhaskar Rao - HUF

C. Vamsheedhar - HUF

R. Venumanohar Rao - HUF

Subsidary Companies:

M/s. Kexveg India Pvt Ltd M/s. Aditya Agritech Pvt Ltd M/s. Genome Agritech Pvt Ltd

Other Related Firms:

M/s. Kaveri Infra

4. Previous year''s figures have been regrouped/rearranged wherever necessary, to conform to those of the current year.


Mar 31, 2013

1. Capital Commitments

Estimated amount of contracts(net of advances) remaining to be executed on capital account and not provided for Rs. 282.25 (683.78) Lakhs.

2. Contingent Liabilities and Commitments a. Contingent Liabilities

Claims against the company not acknowledged as debts Rs. 150.57 Lakhs (Rs. 164.85 Lakhs) This comprise.

i) Tax demands disputed by the Company relating to disallowances/additions of fiscal benefits, pending before various judicial forums and tax authorities, aggregating to Rs. 22.36 Lakhs (Rs. 53.08 Lakhs).

ii) Other matters not related to Tax aggregating to Rs. 10.75 Lakhs (Rs. 14.20 Lakhs).

iii) Bank Gurantees Rs. 117.46 Lakhs (Rs. 97.57 Lakhs)

3. Related Parties Disclosure:

Key Managerial Persons and their relatives

Mr. G.V.Bhaskar Rao

Mrs. G. Vanaja Devi

Mr. R. Venumanohar Rao

Mr. C. Vamsheedhar

Mr. C. Mithun Chand

Mr. G.Pawan

Mrs. G. Madhusree

G.V.Bhaskar Rao - HUF

C. Vamsheedhar - HUF

R. Venumanohar Rao - HUF

Subsidary Companies:

M/s. Kexveg India Pvt Ltd

Partnership Firms In which company is partner:

M/s. Aditya Agriteck

Transactions with related parties during the year

4. Segment Information:

The Company has identified two reportable segments viz., Seed Division and Micro Nutrients Division. Segment have been identified and reported taking into account nature of products and service, the differing risks and returns and the internal business reporting systems. The accounting policies adopted for segment reporting are in line with the accounting policy of the company with following additional policies for segment reporting.

5. Previous year''s figures have been regrouped/rearranged wherever necessary, to conform to those of the current year.


Mar 31, 2012

1 Capital Commitments

Estimated amount of contracts (net of advances) remaining to be executed on capital account and not provided for Rs 683.78 (Rs 178.02) Lakhs.

2 Contingent Liabilities and Commitments

a. Contingent Liabilities

Claims against the company not acknowledged as debts Rs 164.85 Lakhs (Rs 125.33 Lakhs) This comprise.

i. Tax demands disputed by the Company relating to dis-allowances/additions of fiscal benefits, pending before various judicial forums and tax authorities, aggregating to Rs 53.08 Lakhs (Rs 25.38 Lakhs)

ii. Other matters not related to Tax aggregating Rs 14.20 Lakhs (Rs 14.20 Lakhs).

iii. Bank Gaurantees Rs 97.57 Lakhs (Rs 85.95 Lakhs)

3 Related Parties Disclosure

Key Managerial Persons and their relatives

GV Bhaskar Rao

G Vanaja Devi

R Venumanohar Rao

C Vamsheedhar

C Mithun Chand

G Pawan

G Madhusree

GV Bhaskar Rao - HUF

C Vamsheedhar - HUF

R Venumanohar Rao - HUF

Subsidary Companies

M/s Kexveg India Pvt Ltd

Transactions with related parties during the year

4 Segment Information

The Company has identified two reportable segments viz., Seed Division and Micro Nutrients Division. Segment have been identified and reported taking into account nature of products and service, the differing risks and returns and the internal business reporting systems. The accounting policies adopted for segment reporting are in line with the accounting policy of the company with following additional policies for segment reporting.

5 Previous year's figures have been regrouped/rearranged wherever necessary, to conform to those of the current year.


Mar 31, 2011

1. Contingent Liabilities not Provided for

(Rs. in Lacs)

S.No Particulars 2010-11 2009-10

a Bank Guarantees 96.70 120.89

b Claims a gain st the company not acknowledged as debts 28.83 36.74

2. Sundry Creditors

i, in respect of the amounts mentioned under section 205C of the Companies Act, 1956 no dues are to be credited to the Investor Education and Protection Fund as at March 31st, 2011.

ii. Disclosure as per the provision of Micro,Small and Medium Enterprises Development Act, 2006.

3. Deferred Tax Liability:

In conformity with Accounting Standards 22 on Accounting for Taxes on Income issued by Institute of Chartered Accountants of India, the Company hasprovided for the Deferred Tax Liability in the books of Accounts,

4. Segment Information:

The Company has identified two reportable segments viz., Seed Division and Micro Nutrients Division. Segment have been identified and reported taking into account nature of products and service, the differing risks and returns and the interna] business reporting systems. The accounting policies adopted for segment reporting are in line witli the accounting policy of the company with following additionaI policies for segment reporting.

5. Some of the balances under sundry debtors, sundry creditors, deposits, loans and advances payable / receivable are subject to confirmation and reconciliation,

6. Previous year's figures have been regrouped/rearranged wherever necessary, to conform to those of the current year,


Mar 31, 2010

1. Sundry Creditors

i. In respect of the amounts mentioned under section 205C of the Companies Act, 1956 no dues are to be credited to the Investor Education and Protection Fund as at March 31 st, 2010.

ii. Disclosure as per the provisions of Micro, Small and Medium Enterprises Development Act, 2006.

2. Deferred Tax Liability:

In conformity with Accounting Standards 22 on Accounting for Taxes on Income issued by Institute of Chartered Accountants of India, the Company has provided for the Deferred Tax Liability in the books of Accounts.

3. Segment Information:

The Company has identified two reportable segments viz., Seed Division and M,cro Nutrients Division. Segment have been identified and reported taking into account nature of products and service, the differing risks and returns and the internal business reporting systems. The accounting polices adopted for segment reporting are in line with the accounting policy of the company with following additional polices for segment reporting.

4. Some of the balances under sundry debtors, sundry creditors, deposits, loans and advances payable / receivable are subject to confirmation and reconciliation.

5. Figures in brackets represent those relating to the previous year

6. Previous years figures have been regrouped/rearranged wherever necessary, to conform to those of the current year.

 
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