Home  »  Company  »  Khoday India  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Khoday India Ltd.

Mar 31, 2013

1 Previous year figures have been re-grouped/ re-arranged wherever necessary to conform to the current year''s presentation.

2 Contingent Liabilities

S. No. Particulars 2012-13 2011-12

1. Claims against the company not acknowledged as debts 29,675 26,983

2. Disputed Sales Tax not provided 149 4,427

3. Disputed Income Tax not provided 10,910

3 During the year 2010-11 a party had filed a winding up petition against the company. The company has submitted necessary objections for the petition and the matter is pending before Karnataka High Court.

4 Exceptional items represent payment of Rs. 15,612 thousands paid as litigation settlement to two parties.

5 Segment Reporting

Segment Reporting is presented in the Consolidated Financial Statements in terms of the Accounting Standard -17 - Segment Reporting.

6 Related Party Disclosures

The List of related parties as identified by the Management is as under

Subsidiary:

1. Khoday Properties Private Limited

Key Management Personnel:

1. KL Ramachandra ( Non Executive Chairman)

2. K L Srihari (Managing Director)

3. K L A Padmanabhasha (Joint Managing Director)

4. K L Swamy ( Executive Director)

5. K R Nithyanand (Non Executive Director)

6. K H Gurunath (Non Executive Director)

7. K S Giridhar (Non Executive Director) Relatives of Key Management Personnel:

1. K H Radheshyam

2. K.H. Srinivas

3. K P Ganashayam

4. K R Dayanand

5. K S Brijmohan

6. Rajalakshmi Srihari

7. Gulab P Khoday

8. Lalitha Swamy Khoday

9. Padma N Khoday

10. Meera Bai

11. Dhanalakshmi

12. Estate of Late K L Narayanasa

Entities over which Key Management Personnel and/or their relatives are able to exercise significant influence

1. KL Ramachandra - HUF

2. K L A Padmanabhasha - HUF

3. K L Srihari - HUF

4. KL Swamy - HUF

5. Acqua Borewells Private Limited

6. Blendwell bottlers Private Limited

7. Cassonava Distilleries Private Limited

8. Coconut Groves & Holiday Resorts Pvt Limited

9. Daatha Builders Private Limited

10. Elkay Farm

11. Elkay Tradings Corporation Private Limited

12. Five Brothers Marketing Private Limited

13. Forest Resort (Bandipur) Limited

14. Gayathri Foundation

15. Gayathri Holdings Private Limited

16. General mining and minerals

17. Hercules Construction Company Pvt Limited

18. Honeywell Business Private Limited

19. Ingo Property Developers Private Limited

20. Jay Pee Shoes Private Limited

21. K Lakshmana & Company

22. Kankapura Trading Private Limited

23. Khoday Brothers

24. Khoday Breweries Limited

25. Khoday Business Private Limited

26. Khoday Control Systems Private Limited

27. Khoday Eshawarsa and Sons

28. Khoday Hotels Private Limited

29. Khoday Industires (Kuppam) Private Limited

30. Khoday Industries (Hyderabad) Private Limited

31. Khoday Industries Pvt Limited

32. Khodays Brothers International Limited

33. Khodays Technologies Limited

34. Kilara Power Limited

35. L.K Polyfibre Limited

36. L.K Power Corporation Limited

37. L.K Trust

38. Lakshmi Estate

39. Macdonald Tradings Private Limited

40. Mc Donald Distilleries Private Limited

41. Murugan enterprises

42. National Distilleries Limited

43. North India Distillers Private Limited

44. Panchaganga Tradings Private Limited

45. Panchakalyani Tradings Private Limited

46. Parsan Holiday Resorts Private Limited

47. Peterscot Tradings Private Limited

48. Ram Mohan & Company Private Limited

49. Ransh Coffee Estate

50. River Resorts Limited

51. Saraswathi Estate

52. Sovereign Hotels

53. Spring Borewells Company Private Limited

54. Sree Gurunath Panels

55. Sri Gurunath Tradings Private Limited

56. Sri Narmada Distilleries Private Limited

57. Surya Watch Industries Private Limited

58. The Distillers Company Private Limited

59. Thiruvonam Wines

60. Tiger Breweries Limited

61. Trishul Wineries & Distilleries Private Limited

62. United Glass Bottles Manufacturing Company Limited

63. Universal Business Concepts Private Limited

64. Universal Trading Company

65. Vaishnavi Communications Private Limited

66. Vindhya Distilleries

67. Vyjayanthi Tradings Private Limited

68. Wesco Power Generation Limited

69. West India Distilleries Private Limited

70. Yajaman Enterprises

7 Certain confirmation of balances for Trade Payables (Current and Non-Current), Trade Deposits and Advances, Capital Advances, Deposits, Other Loans & Advances and Trade Receivables are awaited. The accounts'' reconciliations of some parties where confirmation have been received are in progress. Adjustments for differences, if any, arising out of such confirmations/ reconciliations would be made in the accounts on receipt of such confirmations and reconciliations thereof. The Management is of the opinion that the impact of adjustments, if any, is not likely to be significant. In the opinion of the Management all current assets, loans and advances including advances in capital accounts would be realized at the values at which these are stated in the accounts, in the ordinary course of business.

8 Fixed Assets includes a building with a WDV of Rs. 11,426 thousands (Previous Year: Rs. 12,028 thousands) the title of which is under dispute before the Debt Recovery Tribunal / City Civil Court. Pending resolution of this dispute, the company continues to reckon the Building as an asset in its financial statement.


Mar 31, 2012

1 The Financial statements for the year ended 31st March 2011 had been prepared as per the then applicable, Schedule VI to the Companies Act, 1956. Consequent to the notification of Revised Schedule VI under the Companies Act, 1956, the financial statements for the year ended 31st March 2012 are prepared as per Revised Schedule VI. Accordingly, the previous year figures have also been reclassified to conform to this year's classification.

2 Contingent Liabilities

S. No. Particulars 2011-12 2010-11

1. Claims against the company not acknowledged as debts 26,983 17,742

2. Disputed Sales Tax not provided 4,427 2,108

3. Disputed Income Tax not provided 10,910 20,825

3 Winding up petition filed by a party in the Previous Year is still pending adjudication before the Karnataka High Court. The Company is of the view that the debt claimed to be due by the petitioner is time barred and hence the winding up petition is not maintainable.

4 Employee Benefits

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

Defined Contribution Plan

Contribution to defined contribution plan recognized as an expense for the year.

5 Segment Reporting

Segment Reporting is presented in the Consolidated Financial Statements in terms of the Account- ing Standard -17 - Segment Reporting.

6 Related Party Disclosures

The List of related parties as identified by the Management is as under Subsidiary :

1. Khoday Properties Private Limited Key Management Personnel :

1. K L Ramachandra ( Non Executive Chairman)

2. K L Srihari (Managing Director)

3. K L A Padmanabhasha (Joint Managing Director)

4. K L Swamy ( Executive Director)

5. K S Giridhar (Non Executive Director)

Relatives of Key Management Personnel :

1. K H Gurunath

2. K H Radheshyam

3. K.H. Srinivas

4. Estate of Late K L Narayanasa

5. K P Ganashayam

6. K R Dayanand

7. K R Nithyanand

8. K S Brijmohan

9. Rajalakshmi Srihari

10. Gulab P Khoday

11. Lalitha Swamy Khoday

12. Padma N Khoday

13. Meera Bai

14. Dhanalakshmi

Entities over which Key Management Personnel and/or their relatives are able to exercise significant influence

1. K L Ramachandra - HUF

2. K L A Padmanabhasha - HUF

3. K L Srihari - HUF

4. K L Swamy - HUF

5. Acqua Borewells Private Limited

6. Blendwell bottlers Private Limited

7. Cassonava Distilleries Private Limited

8. Coconut Groves & Holiday Resorts Pvt Limited

9. Daatha Builders Private Limited

10. Elkay Farm

11. Elkay Tradings Corporation Private Limited

12. Five Brothers Marketing Private Limited

13. Forest Resort (Bandipur) Limited

14. Gayathri Foundation

15. Gayathri Holdings Private Limited

16. General mining and minerals

17. Hercules Construction Company Pvt Limited

18. Honeywell Business Private Limited

19. Ingo Property Developers Private Limited

20. Jay Pee Shoes Private Limited

21. K Lakshmana & Company

22. Kankapura Trading Private Limited

23. Khoday Brothers

24. Khoday Breweries Limited

25. Khoday Business Private Limited

26. Khoday Control Systems Private Limited

27. Khoday Eshawarsa and Sons

28. Khoday Hotels Private Limited

29. Khoday Industires (Kuppam) Private Limited

30. Khoday Industries (Hyderabad) Private Limited

31. Khoday Industries Pvt Limited

32. Khodays Brothers International Limited

33. Khodays Technologies Limited

34. Kilara Power Limited

35. L.K Polyfibre Limited

36. L.K Power Corporation Limited

37. L.K Trust

38. Lakshmi Estate

39. Macdonald Tradings Private Limited

40. Mc Donald Distilleries Private Limited

41. Murugan enterprises

42. National Distilleries Limited

43. North India Distillers Private Limited

44. Panchaganga Tradings Private Limited

45. Panchakalyani Tradings Private Limited

46. Parsan Holiday Resorts Private Limited

47. Peterscot Tradings Private Limited

48. Ram Mohan & Company Private Limited

49. Ransh Coffee Estate

50. River Resorts Limited

51. Saraswathi Estate

52. Sovereign Hotels

53. Spring Borewells Company Private Limited

54. Sree Gurunath Panels

55. Sri Gurunath Tradings Private Limited

56. Sri Narmada Distilleries Private Limited

57. Surya Watch Industries Private Limited

58. The Distillers Company Private Limited

59. Thiruvonam Wines

60. Tiger Breweries Limited

61. Trishul Wineries & Distilleries Private Limited

62. United Glass Bottles Manufacturing Company Limited

63. Universal Business Concepts Private Limited

64. Universal Trading Company

65. Vaishnavi Communications Private Limited

66. Vindhya Distilleries

67. Vyjayanthi Tradings Private Limited

68. Wesco Power Generation Limited

69. West India Distilleries Private Limited

70. Yajaman Enterprises

7 Deferred Tax

In accordance with the Accounting Standard - 22 "Accounting for Taxes on Income" the company reviewed the deferred tax assets and liabilities. As a measure of prudence, this net deferred tax asset has not been recognized in the financial statement. The details are as below:-

8 During the year, the company has identified certain impairable fixed assets, being Building, Capital Work-in-Progress(Civil), Office equipments and Plant & Machinery aggregating to Rs. 15,961 thousands, employed in the Paper division which have been written down to their recoverable amount of Rs. NIL. The Impairment Loss to the tune of Rs. 13,970 thousands has been adjusted against Revaluation Reserve of the assets impaired and balance amounting to Rs. 1,991 thousands has been transferred to Profit and Loss account.

9 Part of Land belonging to the Distillery Division identified on a systematic basis has been revalued on 2nd April 2009 and converted to stock in trade. The increase in the book value arising on such revaluation amounts to Rs. 15,988 thousands.

10 Income from operations includes Rs.40 Crores arising from a contract with a firm for making over the risk and rewards of a project.

11 Certain confirmation of balances for Trade Payables (Current and Non-Current), Trade Deposits and Advances, Capital Advances, Deposits, Other Loans & Advances and Trade Receivables are awaited. The accounts' reconciliations of some parties where confirmation have been received are in progress. Adjustments for differences, if any, arising out of such confirmations/ reconciliations would be made in the accounts on receipt of such confirmations and reconciliations thereof. The Management is of the opinion that the impact of adjustments, if any, is not likely to be significant. In the opinion of the Management all current assets, loans and advances including advances in capital accounts would be realized at the values at which these are stated in the accounts, in the ordinary course of business.

12 Fixed Assets includes a building with a WDV of Rs. 12,028 thousands (Previous Year: Rs. 12,661 thousands) the title of which is under dispute before the Debt Recovery Tribunal / City Civil Court. Pending resolution of this dispute, the company continues to reckon the Building as an asset in its financial statement.


Mar 31, 2011

1. Previous year figures have been re-grouped / re-arranged wherever necessary to conform with the current year's presentation.

Defined Benefit Plan

In case of Gratuity, the present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is recognized in the same manner as gratuity. In line with the accounting policy and as per the Accounting Standard - 15(R), the summarized position of post employment benefits is recognized in the Profit & Loss A/c and Balance Sheet as under:

2. Segment Reporting

Segment Reporting is presented in the Consolidated Financial Statements in terms of the Accounting Standard-17 - Segment Reporting

3. Related Party Disclosures

The list of related parties as identified by the Management is as under:

Subsidiary:

1. Khoday Properties Private Limited

Key Management Personnel:

1. K. L. Ramachandra (Non - Executive Chairman)

2. K. L. Srihari (Managing Director)

3. K. L. A. Padmanabhasa (Joint Managing Director)

4. K. L. Swamy (Executive Director)

5. K. S. Giridhar (Non Executive Director)

Relatives of Key Management Personnel

1. K H Gurunath

2. K H Radheshyam

3. K.H. Srinivas

4. Estate of Late K L Narayanasa

5. K P Ganashayam

6. K R Dayanand

7. K R Nithyanand

8. K S Brijmohan

9. Rajalakshmi Srihari

10. Gulab P Khoday

11. Lalitha Swamy Khoday

12. Padma N Khoday

Entities over which Key Management Personnel and/or their relatives are able to exercise significant influence

1. KL Ramachandra - HUF

2. K L A Padmanabhasha - HUF

3. KL Srihari - HUF

4. K L Swamy - HUF

5. Acqua Borewells Private Limited

6. Blendwell bottlers Private Limited

7. Cassonava Distilleries Private Limited

8. Coconut Groves & Holiday Resorts Pvt Limited

9. Daatha Builders Private Limited

10. Elkay Farm

11. Elkay Tradings Corporation Private Limited

12. Five Brothers Marketing Private Limited

13. Forest Resort (Bandipur) Limited

14. Gayathri Foundation

15. Gayathri Holdings Private Limited

16. General mining and minerals

17. Hercules Construction Company Pvt Limited

18. Honeywell Business Private Limited

19. Ingo Property Developers Private Limited

20. Jay Pee Shoes Private Limited

21. K Lakshmana & Company

22. Kankapura Trading Private Limited

23. Khoday Brothers

24. Khoday Breweries Limited

25. Khoday Business Private Limited

26. Khoday Control Systems Private Limited

27. Khoday Eshwarsa and Sons

28. Khoday Hotels Private Limited

29. Khoday Industries (Kuppam) Private Limited

30. Khoday Industries (Hyderabad) Private Limited

31. Khoday Industries Private Limited

32. Khodays Brothers International Limited

33. Khodays Technologies Limited

34. Kilara Power Limited

35. L K Polyfibre Limited

36. L K Power Corporation Limited

37. L K Trust

38. Lakshmi Estate

39. Macdonald Tradings Private Limited

40. Mc Donald Distilleries Private Limited

41. Murugan enterprises

42. National Distilleries Limited

43. North India Distillers Private Limited

44. Panchaganga Tradings Private Limited

45. Panchakalyani Tradings Private Limited

46. Parsan Holiday Resorts Private Limited

47. Peterscot Tradings Private Limited

48. Ram Mohan & Company Private Limited

49. Ransh Coffee Estate

50. River Resorts Limited

51. Saraswathi Estate

52. Sovereign Hotels

53. Spring Borewells Company Private Limited

54. Sree Gurunath Panels

55. Sri Gurunath Tradings Private Limited

56. Sri Narmada Distilleries Private Limited

57. Surya Watch Industries Private Limited

58. The Distillers Company Private Limited

59. Thiruvonam Wines

60. Tiger Breweries Limited

61. Trishul Wineries & Distilleries Private Limited

62. United Glass Bottles Manufacturing Company Limited

63. Universal Business Concepts Private Limited

64. Universal Trading Company

65. Vaishnavi Communications Private Limited

66. Vindhya Distilleries

67. Vyjayanthi Tradings Private Limited

68. Wesco Power Generation Limited

69. West India Distilleries Private Limited

70. Yajaman Enterprises

[Rupees in Thousands] PARTICULARS 2010-11 2009-10

4. Contingent Liabilities

1. Claims against the company not acknowledged as debts 17,742 27,917

2. Disputed Sales Tax not provided 2,108 2,096

3. Guarantees / Counter - Guarantees given to Bank / Financial Institutions / Government Departments 15,405 15,300

4. Disputed Income Tax not provided 20,825 -

5. Part of Land belonging to the Distillery Division has been revalued on 2nd April 2009 and converted to stock in trade. The increase in the book value arising on such revaluation amounts to Rs. 15,988 thousands.

6. An amount of Rs. 26,344 thousands has been disclosed as contingent liability in the earlier years towards an interest claim against the company. Pursuant to an order of the court, a provision for interest to an extent of Rs. 10,076 thousands has been made during the year. The balance amount of Rs. 16,268 continues to be disclosed as contingent liability as the company has preferred a Review Petition.

7. Sundry Credit balances to the tune of Rs. 21,892 thousands has been written back. During the year a party has filed a winding up petition against the company. The Company is in the process of submitting the objection to the petition.

8. Certain confirmation of balances from Sundry Debtors, Loans and advances, Deposits and Sundry Creditors are awaited. The accounts reconciliations of some parties where confirmation have been received are in progress. Adjustments for differences, if any, arising out of such confirmations/ reconciliations would be made in the accounts on receipt of such confirmations and reconciliations thereof. The Management is of the opinion that the impact of adjustments, if any, is not likely to be significant. In the opinion of the Management all current assets, loans and advances including advances in capital accounts would be realized at the values at which these are stated in the accounts, in the ordinary course of business.

9. Purchase of Raw Materials (Distillery) includes Stock Received on Loan Basis from Khoday Breweries Limited to the extent of Rs. 9,252 thousands which is returnable.

10. Information relating to Micro, Medium and Small enterprises having business transaction with the Company is furnished based on the information available amounting to Rs. 7,737 thousands (Previous Year: Rs. 8,145 thousands).

Naveen Prakashna - Blr

Apex Industries

Paras Mineral Industries

Chembor Engineering Work

Ramya Minerals

Esscee Engineering Company

Shanthi Silicon Traders

Giliyal Industries, Bangalore

Shree Shree Lakshmi Venkateshwara Swamy Industries

I.S.Moulds & Spares

Shreno Ltd.

IS Engineers

Sudha Minechem Industries

Jaimaruti Packaging

Sudharshan Mould- Mumbai

Karanja Industries Pvt Ltd.

Super Graphic 'N' Prints-B'lore

27. Loans and Advances include

- Rs. 2,00,000 thousands (previous year: Rs.2,50,000 thousands) towards Lease Deposit given to firms in which some of the Directors are Partners.

11. Fixed Assets includes a building with a WDV of Rs. 12,661 thousands (Previous Year: Rs. 13,327 thousands) the title of which is under dispute before the Debt Recovery Tribunal / City Civil Court. Pending resolution of this dispute, the company continues to reckon the Building as an asset in its financial statement.

12. Fixed Deposit of 11,943 thousands (Previous year: Rs. 10,825 Thousands) has been pledged with the Banks towards margin money for issuance of bank guarantee.

13. Consequent to the revaluation of certain fixed assets carried out in 1998-99, there is an additional charge of depreciation amounting to Rs. 7,599 thousands (Previous year: Rs. 7,599 thousands) and an equivalent amount has been withdrawn from Revaluation Reserves and credited to the Profit & Loss Account.


Mar 31, 2010

1. Previous year figures have been re-grouped / re-arranged wherever necessary to conform with the current years presentation.

2. SEGMENT REPORTING

Segment Reporting is presented in the Consolidated Financial Statements in terms of the Accounting Standard-17 - Segment Reporting

3. Related Party Disclosures

The list of related parties as identified by the Management is as under:

Subsidiary:

1. Khoday Properties Private Limited Key Management Personnel:

1. K. L Ramachandra (Non - Executive Chairman)

2. K. L. Srihari (Managing Director)

3. K. L A. Padmanabhasa (Joint Managing Director)

4. K. L. Swamy (Executive Director)

5. K. S. Giridhar (Non Executive Director)

Relatives of Key Management Personnel

1. K H Gurunath

2. K H Radheshyam

3. K.H. Srinivas

4. Estate of Late K L Narayanasa

5. K P Ganashayam

6. K R Dayanand

7. K R Nithyanand

8. K S Brijmohan

9. Rajalakshmi Srihari

10. Gulab P Khoday

11. Lalitha Swamy Khoday

12. Padma N Khoday

Entities over which Key Management Personnel and/or their relatives are able to exercise significant influence

1. K L Ramachandra - HUF

2. K L A Padmanabhasha - HUF

3. K L Srihari - HUF

4. K L Swamy - HUF

5. Acqua Borewells Private Limited

6. Blendwell bottlers Private Limited

7. Cassonava Distilleries Private Limited

8. Coconut Groves & Holiday Resorts Pvt Limited

9. Daatha Builders Private Limited

10. Elkay Farm

11. Elkay Tradings Corporation Private Limited

12. Five Brothers Marketing Private Limited

13. Forest Resort (Bandipur) Limited

14. Gayathri Foundation

15. Gayathri Holdings Private Limited

16. General mining and minerals

17. Hercules Construction Company Pvt Limited

18. Honeywell Business Private Limited

19. Ingo Property Developers Private Limited

20. Jay Pee Shoes Private Limited

21. K Lakshmana & Company

22. Kankapura Trading Private Limited

23. Khoday Brothers

24. Khoday Breweries Limited

25. Khoday Business Private Limited

26. Khoday Control Systems Private Limited

27. Khoday Eshwarsa and Sons

28. Khoday Hotels Private Limited

29. Khoday Industries (Kuppam) Private Limited

30. Khoday Industries (Hyderabad) Private Limited

31. Khoday Industries Private Limited

32. Khodays Brothers International Limited

33. Khodays Technologies Limited

34. Kilara Power Limited

35. L K Polyfibre Limited

36. L K Power Corporation Limited

37. L K Trust

38. Lakshmi Estate

39. Macdonald Tradings Private Limited

40. Mc Donald Distilleries Private Limited

41. Murugan enterprises

42. National Distilleries Limited

43. North India Distillers Private Limited

44. Panchaganga Tradings Private Limited

45. Panchakalyani Tradings Private Limited

46. Parsan Holiday Resorts Private Limited

47. Peterscot Tradings Private Limited

48. Ram Mohan & Company Private Limited

49. Ransh Coffee Estate

50. River Resorts Limited

51. Saraswathi Estate

52. Sovereign Hotels

53. Spring Borewells Company Private Limited

54. Sree Gurunath Panels

55. Sri Gurunath Tradings Private Limited

56. Sri Narmada Distilleries Private Limited

57. Surya Watch Industries Private Limited

58. The Distillers Company Private Limited

59. Thiruvonam Wines

60. Tiger Breweries Limited

61. Trishul Wineries & Distilleries Private Limited

62. United Glass Bottles Manufacturing Company Limited

63. Universal Business Concepts Private Limited

64. Universal Trading Company

65. Vaishnavi Communications Private Limited

66. Vindhya Distilleries

67. Vyjayanthi Tradings Private Limited

68. Wesco Power Generation Limited

69. West India Distilleries Private Limited

70. Yajaman Enterprises

[Rupees in Thousands]

4. Contingent Liabilities

PARTICULARS 2009-10 2008-09

1. Claims against the company not

acknowledged as debts 27,917 11,649

2. Disputed Sales Tax not provided 2,096 8,089

3. Guarantees / Counter -

Guarantees given to

Bank / Financial Institutions /

Government Departments 15,300 16,000

5. Payments made or provided

for Directors

Directors sitting fees 55 79

Managerial Remuneration * *

* Remuneration to Managerial personnel has not been provided

6. Part of Land belonging to the Distillery Division identified on a systematic basis has been revalued on 2nd April 2009 on the basis of Fair market value and converted into Stock in trade. The increase in net book value arising on such revaluation amounting to Rs. 15,988 thousands and the balance in the revaluation reserve of Rs. 9,280 thousands pertaining to this asset on account of revaluation done in the year 1998-99 has been transferred to capital reserve account pursuant to the conversion.

7. Certain confirmation of balances from Sundry Debtors, Loans and advances, Deposits and Sundry Creditors are awaited. The accounts reconciliations of some parties where confirmation have been received are in progress. Adjustments for differences, if any, arising out of such confirmations/ reconciliations would be made in the accounts on receipt of such confirmations and reconciliations thereof. The Management is of the opinion that the impact of adjustments, if any, is not likely to be significant. In the opinion of the Management all current assets, loans and advances including advances in capital accounts would be realized at the values at which these are stated in the accounts, in the ordinary course of business

8. Information relating to Micro, Medium and Small enterprises having business transaction with the Company is furnished based on the information available amounting to Rs. 8145 thousands (Previous Year Rs 7,529 thousands).

Name of SSI

Adithya Enterprises - Blr Apex Industries Chembor Engineering Work Dhanalakshmi Minerals Esscee Engineering Company Everest Engineers - Poona Giliyal Industries, Bangalore I.S.Moulds & Spares IS Engineers Jai Maruthi & Co.

Jaimaruti Packaging

Karanja Industries Pvt Ltd.

Kirti Printers

Maleeka Enterprises - Bangalore

Naveen Prakashna - Blr

Paras Mineral Industries

Ramya Minerals

Shanthi Silicon Traders

Shree Shree Lakshmi Venkateshwara Swamy Industries

Shreno Ltd.

Sri Balaji Trading Corpom., Bangalore

Sudha Minechem Industries

Sudharshan Mould- Mumbai

Super Graphic N Prints-Blore

9. Loans and Advances include

- Rs. 2,50,000 thousands towards Lease Deposit given to firms in which some of the Directors are Partners.

- Trade Advance amounting to Rs. 72,809 thousands due from Khoday Breweries Limited in which some of the Directors are interested.

10. Fixed Assets includes a building with a WDV of Rs. 13,327 thousand (Previous Year 14,029 thousands) the title of which is under dispute before the Debt Recovery Tribunal / City Civil Court. Pending resolution of this dispute, the company continues to reckon the Building as an asset in its financial statement.

11. Fixed Deposit of 10,825 thousands (Previous year-Rs.13,016 Thousands) has been pledged with the Banks towards margin money for issuance of bank guarantee.

12. Consequent to the revaluation of certain fixed assets carried out in 1998-99, there is an additional charge of depreciation amounting to Rs. 7,599 thousands (Previous year Rs 20,858 thousands) and an equivalent amount has been withdrawn from Revaluation Reserves and credited to the Profit & Loss Account.

Find IFSC