Mar 31, 2017
1. A special resolution u/s 100 of the Companies Act 1956 approving the reduction of paid up share capital of the Company held by Public shareholders to the extent of 3,931,042 shares at Rs 75/- per share amounting to Rs 294,828 was passed at the AGM held on 30th December 2013. The Hon''ble Karnataka High Court, on 7th August, 2014 passed an order confirming the special resolution passed by the Company in the said AGM. A certificate of reduction of Capital was issued by the said ROC dated 12th September, 2014 and the MCA records have been updated, incorporating the Reduction of Capital.
The Company has made requisite entries in the books of accounts giving effect to the Reduction of Capital by reducing its Share Capital, Reserves/Securities Premium and creating a liability towards the equity share holders under the head "Liability to Equity Share Holdersâ and a fixed deposit to the tune of Rs 295,000 has been placed with Punjab National Bank for settlement of this liability.
An application filed by SEBI for impalement in the proceedings and recalling the order of Reduction of Capital was rejected by the Hon''ble High Court of Karnataka. SEBI has filed an appeal before the divisional bench of the High Court of Karnataka and the matter is pending before the concerned forum.
The Company has made consistent and repeated attempts to implement the Court''s Order by fixing the record date first on 29th September, 2014 and subsequently on 10th October, 2014, 7th December, 2014, 7th April, 2015, 22nd June, 2015 and 13th October, 2015 for the purpose of drawing up the list of Public Shareholders entitled to payment in respect of the shares so cancelled, but the same has not been acted upon by BSE Limited.
The Company has, in parallel, filed an application before the Hon''ble High Court of Karnataka requesting the Court to issue directions to the Bombay Stock Exchange to confirm the ''Record Date'' set by the Company and consequently issue necessary instructions to the NSDL and CDSL. The matter is pending before the Hon''ble High Court of Karnataka.
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 is presented in Consolidated Financial Statements in terms of Accounting Standard 17 on Segment Reporting.
3. Related Party Disclosures
The List of related parties as identified by the Management is as under Wholly owned Subsidiary
4. Khoday Properties Private Limited Key Management Personnel
5. Late K L Srihari (Managing Director) upto 31st October, 2016
6. K L A Padmanabhasa (Joint Managing Director)
7. K L Swamy ( Executive Director)
Relatives of Key Management Personnel
8. K L Ramachandra (Non Executive Chairman)
9. K R Nithyanand (Non Executive Director)
10. K H Gurunath (Non Executive Director)
11. K S Giridhar (Non Executive Director)
12. KHRadheshyam
13. K H Srinivas
14. K P Ghanshyam
15. K R Dayanand
16. K S Brijmohan
Entities over which Key Management Personnel and/or their relatives are able to exercise significant influence
17. K L Ramachandra - HUF
18. K L A Padmanabhasa - HUF
19. K L Srihari - HUF
20. KLSwamy-HUF
21. Acqua Borewells Private Limited
22. Blendwell bottlers Private Limited
23. Cassanova Distilleries Private Limited
24. Coconut Groves & Holiday Resorts Pvt Limited
25. Daatha Builders Private Limited
26. Elkay Farm
27. Elkay Tradings Corporation Private Limited
28. Five Brothers Marketing Private Limited
29. Forest Resort (Bandipur) Limited
30. Gayathri Foundation
31. Gayathri Holdings Private Limited
32. Hercules Construction Company Pvt Limited
33. Honeywell Business Private Limited
34. Ingo Property Developers Private Limited
35. Jay Pee Shoes Private Limited
36. K Lakshmansa & Company
37. Kankapura Trading Private Limited
38. Khoday Brothers
39. Khodays Breweries Limited
40. Khoday Business Private Limited
41. Khoday Control Systems Private Limited
42. Khoday Eshwarsa and Sons
43. Khoday Hotels Private Limited
44. Khoday Industires (Kuppam] Private Limited
45. Khoday Industries (Hyderabad] Private Limited
46. Khoday Industries Pvt Limited
47. Khodays Brothers International Limited
48. Khodays Technologies Limited
49. Kilara Power Limited
50. L.K Polyfibre Limited
51. L.K Power Corporation Limited
52. L.K Trust
53. Lakshmi Estate
54. Macdonald Tradings Private Limited
55. Me Donald Distilleries Private Limited
56. National Distilleries Limited
57. North India Distillers Private Limited
58. Panchaganga Tradings Private Limited
59. Panchakalyani Tradings Private Limited
60. Parsan Holiday Resorts Private Limited
61. Peterscot Tradings Private Limited
62. Ram Mohan & Company Private Limited
63. Ransh Coffee Estate
64. River Resorts Limited
65. Saraswathi Estate
66. Spring Borewells Company Private Limited
67. Sri Gurunath Tradings Private Limited
68. Sri Narmada Distilleries Private Limited
69. Surya Watch Industries Private Limited
70. The Distillers Company Private Limited
71. Thiruvonam Wines
72. Regit Estates Limited (formerly Tiger Breweries Limited)
73. Trishul Wineries & Distilleries Private Limited
74. United Glass Bottles Manufacturing Company Limited
75. Universal Business Concepts Private Limited
76. Universal Trading Company
77. Vaishnavi Communications Private Limited
78. Vindhya Distilleries
79. Vyjayanthi Tradings Private Limited
80. Wesco Power Generation Limited
81. West India Distilleries Private Limited
82. Fixed Assets includes a building with a WDV of Rs. 9,353 (Previous Year: Rs. 9,829) the title of which is under dispute before the Debt Recovery Tribunal and on which an attachment order has been served by the Employees Provident Fund Organization (EPFO). Pending resolution of these issues, the company continues to reckon the Building as an asset in its financial statement.
83. Certain confirmation of balances for Trade Payables, Trade Deposits and Advances, Capital Advances, Imprest Cash, 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.
Mar 31, 2016
1. Previous year figures have been re-grouped/ re-arranged wherever necessary to conform to the current j year''s presentation.
2. A special resolution u/s 100 of the Companies Act 1956 approving the reduction of paid up share capital of the Company held by Public shareholders to the extent of 3,931,042 shares at Rs 75/- per share amounting to Rs 294,828 was passed at the AGM held on 30th December 2013. The Hon''ble Karnataka High Court, on 7th August, 2014 passed an order confirming the special resolution passed by the Company in the said AGM. A certificate of reduction of Capital was issued by the said ROC dated 12th September, 2014 and the MCA records have been updated, incorporating the Reduction of Capital.
The Company has made requisite entries in the books of accounts giving effect to the Reduction of Capital by reducing its Share Capital, Reserves/Securities Premium and creating a liability towards the equity share holders under the head "Liability to Equity Share Holders" and a fixed deposit to the tune of Rs 295,000 has been placed with Punjab National Bank for settlement of this liability. The Company has also obtained a legal opinion for the same and considers the liability to be a subsisting liability.
An application filed by SEBI for impalement in the proceedings and recalling the order of Reduction of Capital was rejected by the Hon''ble High Court of Karnataka. SEBI has filed an appeal and the matter is pending before the concerned forum.
The Company has made consistent and repeated attempts to implement the Court''s Order by fixing the record date first on 29th September, 2014 and subsequently on 10th October, 2014, 7th December, 2014, 7th April, 2015, 22nd June, 2015 and 13th October, 2015 for the purpose of drawing up the list of Public Shareholders entitled to payment in respect of the shares so cancelled, but the same has not been acted upon by BSE Limited.
3. Exceptional items represent payment of Rs NIL (PY Rs 25,668) paid as litigation settlement to two parties.
4. Segment Reporting is presented in Consolidated Financial Statements in terms of Accounting Standard 17 on Segment Reporting.
5. Related Party Disclosures
The List of related parties as identified by the Management is as under Wholly owned Subsidiary
6. Khoday Properties Private Limited Key Management Personnel
7. K LSrihari (Managing Director)
8. K LA Padmanabhasha (Joint Managing Director)
9. K L Swamy( Executive Director)
Relatives of Key Management Personnel
10. K L Ramachandra (Non Executive Chairman)
11. K R Nithyanand (Non Executive Director)
12. K H Gurunath (Non Executive Director)
13. K S Giridhar (Non Executive Director)
14. K H Radheshyam
15. K.H. Srinivas
16. K P Ghanshyam
17. K R Dayanand
18. KSBrijmohan
Entities over which Key Management Personnel and/or their relatives are able to exercise significant influence
19. K L Ramachandra - HUF
20. K LA Padmanabhasha - HUF
21. K LSrihari-HUF
22. KL Swamy-HUF
23. AcquaBorewells Private Limited
24. Blendwell bottlers Private Limited
25. Cassonava Distilleries Private Limited
26. Coconut Groves & Holiday Resorts Pvt Limited
27. Daatha Builders Private Limited
28. Elkay Farm
29. Elkay Tradings Corporation Private Limited
30. Five Brothers Marketing Private Limited
31. Forest Resort (Bandipur) Limited
32. Gayathri Foundation
33. Gayathri Holdings Private Limited
34. Hercules Construction Company Pvt Limited
35. Honeywell Business Private Limited
36. Ingo Property Developers Private Limited
37. Jay Pee Shoes Private Limited
38. K Lakshmana& Company
39. Kankapura Trading Private Limited
40. Khoday Brothers
41. Khodays Breweries Limited
42. Khoday Business Private Limited
43. Khoday Control Systems Private Limited
44. KhodayEshawarsa and Sons
45. Khoday Hotels Private Limited
46. KhodayIndustires (Kuppam) Private Limited
47. Khoday Industries (Hyderabad) Private Limited
48. Khoday Industries Pvt Limited
49. Khodays Brothers International Limited
50. Khodays Technologies Limited
51. Kilara Power Limited
52. L.K Polyfibre Limited
53. L.K Power Corporation Limited
54. L.K Trust
55. Lakshmi Estate
56. Macdonald Tradings Private Limited
57. Me Donald Distilleries Private Limited
58. National Distilleries Limited
59. North India Distillers Private Limited
60. PanchagangaTradings Private Limited
61. PanchakalyaniTradings Private Limited
62. Parsan Holiday Resorts Private Limited
63. PeterscotTradings Private Limited
64. Ram Mohan & Company Private Limited
65. Ransh Coffee Estate
66. River Resorts Limited
67. Saraswathi Estate
68. Spring Borewells Company Private Limited
69. Sri GurunathTradings Private Limited
70. Sri Narmada Distilleries Private Limited
71. Surya Watch Industries Private Limited
72. The Distillers Company Private Limited
73. Thiruvonam Wines
74. Regit Estates Limited (formerly Tiger Breweries Limited)
75. Trishul Wineries & Distilleries Private Limited
76. United Glass Bottles Manufacturing Company Limited
77. Universal Business Concepts Private Limited
78. Universal Trading Company
79. Vaishnavi Communications Private Limited
80. Vindhya Distilleries
81. Vyjayanthi Trading Private Limited
82. Wesco Power Generation Limited
83. West India Distilleries Private Limited
84. Fixed Assets includes a building with a WDV of Rs. 9,829 (Previous Year: Rs. 10,330) the title of which is under dispute before the Debt Recovery Tribunal. Pending resolution of this dispute, the company continues to reckon the Building as an asset in its financial statement.
85. 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.
Mar 31, 2015
Subsidiary
Khoday properties private limited
Key Management personnal
Retatives of key management personel
1. K.H.Radheshyam
2. K.H.Ssinivas
3. Estate of late K.L.Narayana
4. KP.Genshaswamy
5. k.R Dayanand
6.K.S Baijmohan
7. Rajaiaksmi ,srihari
8. Gulap khoday
9. Lalitha swamy.khoday
10. Padma N .Khoday
11. Meera Bai
12.Chanralakshmi
Entities over which key management personnal and /or their relatives are able to execitove significant influence
1 .K.L Ramachanra âHUF
2. K.L.A.Padmanabhasha âHUF
3. K.L.Srihari-HUF
4.K.L.SWAMY-HUF
5. Acqua boreweith pritive limitied
6.brend well private limited
7.cassonave distillecles private limiteed
8.cocunct groves& holiday resorts pvt.limited
Dasthia butiders pvt limited
10.khoday farm
11. Elkay trading corpordation private limited
12.Five brothers marketing pritive limited
13. Forest resort mareting privited limited
14. Gayathri foundation
15.Gayathri holdings pritive limited
16 General miting and minerals
17.Honeywell business pritive limited
18.Hercules construction company pvt limited
19. Ingo property devevipers pvt limited
20.jay pee shoes pvt limited
21K.Lakshimana &company
22.kankapura traging pritive limited
23. khoday brother
24.khoday brewerles limited
25` khoday basiness pritive limited
26. khoday control systems pritive limited
27. khoday eshawarsa and sores
28khoday hotels privite limited
29.khodayindustries`(kuppam)privite limited
30.khoday industries (Hyderabad )privite limited
31. khoday industries pvt limited
KHODAY INDIA LIMITED
Significant Accouting policics notes on financial statements
Entities over which key management personal and /or relatives are abie exercise infiuence
32.khoday brothers international limited
33. khodays technologive limited
34. lk.l.polyber goporation limited
35.K.l.kitaer power limited
36. L.Kpower limited
37.L.K.turst
38. lakshmi state
39.mecdanald tradings pvt limited
40.mc. dorialo distillers pvt limited
41. murugan enterpress
42. national distallerses
43.north india distillers pvt limite=
44.panchagonga trading pvt limited
45. panchkalyan tradings pvt limited
46. parsan holiday resorts pvt limited
47. peterscot traings resorts pvt limited
48. ram mohan &company pvt limited
49.ransh coffee estate
51.river resorts limited
52.saraswathi estate
53.sovereing hotals
54.sree garunath panets
55.sri guruath tradings pvt limited
56.sri narmade distille pvt limited
57.surya wetch industries pvt limited
58.the distillers company pvt limited
59.thirshul wineries &dissccects private limited
60.tiger bresiness limited
61.tristul wisinries &distlerries private limited
62. united giass bottles manuturing company limited
63. universal business concepts private limited
64. universal trading company
65.vaishnavi communications private limited
66. vindhya distilleries
67.vijavathi trading private limited
68.wesco power generation limited
69 west india distillenies private limited
70. yajaman enterprises.
1.During the year the company the tranfied unctaimed dividened of his 653 to the inaestor education and protection
2.(a) pursuant to enactment of the companies ACT2013, the company has apptied the estimated useful life for depercition of assets as specified in specitied in sched in accotdingiy the balace carrying amount of aisets whose remaining useful life is at 1th apirl 2014 amounting to Rs 27,468 have been statement of &loss account
Futher in the company in fine with scheduled at of the companies ACT 2013 read with the âapplication guideâ on the provitabie of scheduled portion of fead assets amounting to Rs 5,368 have been charged to the statement of proft &loss account and not withdrawn form the revation reserve
(b)Had the company applied the provitions of schedule XFUto the company ACT.1986,THE DEPRERCITION would have been lower by Rs 52,471 accordigly the charge in the statementbof profit &loss account at higher to this extent in the curretnt year.
3. fixed assats includes &building with of a wdy of Rs 10,8561bthe title of which is under to this extentin the corrtent in the currert year. Staterment
Significant Accounting Pollcies and notes on financial statements
4 certain conformation of balances for trade payables (current and non-current), trade deposits and advances .caoital advances, deposits .Other loans &advances and trade receivables are awaited.The account reconecillations of some partias where conformation have been received are in progress adjustments for differences if any arising out of such conformations/reconciliations would be made in the account on receipt of such conformations and reconciliation thereof. The management is of the opinion that the impact of adjustments,if any ,is not likely to be significant.in capital accounts would be reallzed at the values at which these are stated in the accounts ,in the ordinary course of business.
Mar 31, 2014
As per accounting slandered 15 employee Benefit the discloses of employee benefits as defend in the accounting standards are given below
Key Management personal
Retatives of key management personnel
1. K.H.Radheshyam
2. K.H.Ssinivas
3. Estate of late K.L.Narayana
4. KP.Genshaswamy
5. k.R Dayanand
6.K.S Baijmohan
7. Rajaiaksmi ,srihari
8. Gulap khoday
9. Lalitha swamy.khoday
10. Padma N .Khoday
11. Meera Bai
12.Chanralakshmi
Entities over which key management personal and /or their relatives are able to executive significant influence
1 .K.L Ramachanra âHUF
2. K.L.A.Padmanabhasha âHUF
3. K.L.Srihari-HUF
4.K.L.SWAMY-HUF
5. Acqua boreweith private limited
6.brend well private limited
7.cassonave disilecles private limited
8.cocunct groves& holiday resorts pvt. limited
Dasthia betides pvt limited
10.khoday farm
11. Elkay trading corporation private limited
12.Five brothers marketing private limited
13. Forest resort marketing private limited
14. Gayathri foundation
15.Gayathri holdings private limited
16 General meeting and minerals
17.Honeywell business private limited
18.Hercules construction company pvt limited
19. Ingo property deceivers pvt limited
20.jay pee shoes pvt limited
21K.Lakshimana &company
22.kankapura triaging pristine limited
23. khoday brother
24.khoday breweries limited
25` khoday business prestige limited
26. khoday control systems prestige limited
27. khoday eshawarsa and sores
28khoday hotels private limited
29.khodayindustries`(kuppam)private limited
30.khoday industries (Hyderabad )private limited
31. khoday industries pvt limited
KHODAY INDIA LIMITED
Significant Accounting policies notes on financial statements
Entities over which key management personal and /or relatives are able exercise influence
32.khoday brothers international limited
33. khodays technologies limited
34. lk.l.polyber goporation limited
35.K.l.kitaer power limited
36. L.Kpower limited
37.L.K.turst
38. lakshmi state
39.mecdanald trading pvt limited
40.mc. dorialo distillers pvt limited
41. murugan enterprises
42. national distallerses
43.north India distillers pvt limited=
44.panchagonga trading pvt limited
45. panchkalyan trading pvt limited
46. parsan holiday resorts pvt limited
47. peters cot tracings resorts pvt limited
48. ram mohan &company pvt limited
49.ransh coffee estate
51.river resorts limited
52.saraswathi estate
53.sovereing hotals
54.sree garunath panets
55.sri great trading pvt limited
56.sri Narmada distiller pvt limited
57.surya watch industries pvt limited
58.the distillers company pvt limited
59.thirshul wineries &descents private limited
60.tiger business limited
61.tristul wisinries &distilleries private limited
62. united glass bottles manicuring company limited
63. universal business concepts private limited
64. universal trading company
65.vaishnavi communications private limited
66. vindhya distilleries
67.vijavathi trading private limited
68.wesco power generation limited
69 west India distilleries private limited
70. yajaman enterprises.
5. fixed assets includes &building with of a WDV of Rs 10,856 THOSANDS (PREVIOUS YEAR Rs, 11,426 THOUSANDS) the title of which is under dispute before the recovery tribunal city civil court pending resolution of this dispute the dept recovery tribunal /city the title of which is under to this extent in the current in the current year. Statement.
6.During the year the company has identified certain impair able plant & machinery of class division having a net block of Rs,1,751 thousands which have been written down to NIL as there is no recoverable amount from these assets the impairment loss o Rs,1,751 thousands have been charged off to statement of profit & Loss.
7. certain conformation 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 account reconciliations of some parties where conformation have been received are in progress adjustments for differences if any arising out of such conformations/reconciliations would be made in the account on receipt of such conformations and reconciliation thereof. The management is of the opinion that the impact of adjustments, if any ,is not likely to be significant. in capital accounts would be realized at the values at which these are stated in the accounts ,in the ordinary course of business.
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.