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Notes to Accounts of Khoday India Ltd.

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 Holders” 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

  1. K .l Ramachanra (Non-Execution chairman)
  2. K.L.Srihari(managing director)
  3. K.L.A.Padmanabacha (joint managing director)
  4. K.L.Swamy (Executive director)
  5. K..R.Nithyanand (non-execution director
  6. K.H Guruunath (non-executive director)
  7. K.S.Giridher (non-executive director)

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 –HUF

2. K.L.A.Padmanabhasha –HUF

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 “application guide” 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

  1. Provides year figures have been re-grouped /to-arranged when event necessary in conform to the current 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 the public shareholders was passed at the AGM held on 30th December 2013. The company propos to the potion u/s before honorable high court of Karnataka for seeking confirmation of the special resolution.
  3. During the year 2010-201 a party had filed a winding up potion against the company the company has submitted nesters objections for the petition and the matter is pending before Karnataka High Court
  4. Employee Benefit

As per accounting slandered 15 employee Benefit the discloses of employee benefits as defend in the accounting standards are given below

Key Management personal

  1. K .L Ramachanra (Non-Execution chairman)
  2. K.L.Srihari(managing director)
  3. K.L.A.Padmanabacha (joint managing director)
  4. K.L.Swamy (Executive director)
  5. K..R.Nithyanand (non-execution director
  6. K.H Guruunath (non-executive director)
  7. K.S.Giridher (non-executive director)

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 –HUF

2. K.L.A.Padmanabhasha –HUF

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.

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