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Notes to Accounts of Luharuka Media & Infra Ltd.

Mar 31, 2015

1. Detailed note on the terms of the rights, preferences and restrictions relating to each class of shares including restrictions on the distribution of dividends and repayment of capital.

i) The Company has only one class of Equity Shares having a par value of Rs. 1/- per share. Each holder of Equity Share is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees.

ii) In the event of liquidation of the Company, the holders of Equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of Equity shares held by the shareholders.

2. Detailed note on shares reserved to be issued under options and contracts / commitment for the sale of shares / divestments including the terms and conditions.

The company does not have any such contract / commitment as on reporting date.

3. Detailed terms of any securities convertible into shares, e.g. in the case of convertible warrants, debentures, bonds etc.

The company does not have any securities convertible into shares as on reporting date.

4. Amounts due to Micro, Small and Medium Enterprises:

Under the Micro, Small and Medium Enterprises Development Act, 2006 certain disclosures are required to be made related to micro, small and medium enterprise. The company does not have any transactions with such entities.

5. Amortisation of Preliminery expenses

The Company had incurred some expenses on account of Increase in Authorised Capital and in connection with the Right Issue of Equity Shares which were treated as Preliminary expenses in the books of Accounts till 31 March 2013 (Rs.14,69,675/-) and no such expenses were written off in the books of Accounts. However, the management has framed a policy of Amortising the above Preliminary expenses over a period of 5 years starting from the financial year 2013-14.

6. Exceptional Item

The Company has revised its policy of providing depreciation on fixed assets effective 1 April, 2014. Depreciation is now provided based on the revised remaining useful life of each asset which has been revised based on an evaluation by the management. The carrying amount of each asset as on 1 April, 2014 is depreciated over the revised remaining useful life. As a result of these changes, the depreciation charge for the year ended 31 March, 2015 of Rs. 48,719 is higher by Rs. 20,494 and the effect relating to the period prior to 1 April, 2014 is Rs. 7,039 which has been shown as an 'Exceptional Item'. Accordingly, depreciation and amortisation expense for the year ended 31 March, 2015 aggregates to Rs. 41,680.

7. NOTES TO ACCOUNTS:

1. In the opinion of the Board of Directors, the Current Assets, Loans & Advances have realizable value in the ordinary course of business at least equal to the amount at which they are stated in the balance sheet and the same has been certified by the Board of Directors.

2. Legal Disputes in Projects undertaken by the company:

(i) Company has entered into a Development Agreement with M/s. Krishna Sagar Builders Ltd. to develop a property situated at Charkop Village, Kandivali (West) admeasuring total area of 1138.78 Sq. Mtrs (Developable Area: 984.90 Sq Mtrs) the total amount incurred on the said project is Rs. 446.62 Lacs as on 31st March, 2015 which is under Legal Dispute.

(ii) The company has entered into a Joint Venture Agreement with M/s. Krishna Developers through its proprietor Mr. Rajiv Kashyap to develop the property situated at CTS No.484 at Gulmohar Road, Juhu, Mumbai the total amount incurred on the said project is Rs. 147.45 Lacs as on 31st March, 2015, which is also under Dispute but the company has made a recovery of Rs. 50.70 Lacs in the year 2013 so the net amount incurred on the said project is Rs.96.75 Lacs as on 31st March 2015.

8. Related Parties Disclosure:

(i) As per Accounting Standard on 'Related Party Disclosure" (AS 18), the related parties of the company as at March 31,2015 are as follows:

(a) Wholly Owned Subsidiary Company : N.A.

(b) Promoter Group/ Holding Company :

M/s. Bhrarosemand Commodities Pvt Ltd. Promoter Group

(c ) Key Management Personal :

Ms. Alka Lath Whole Time Director

9. Balances of Sundry Debtors, Sundry Creditors, Advances received and recoverable are subject to confirmation and reconciliation, if any from the respective parties.

10. Previous years figures have been regrouped/ rearranged and reclassified wherever necessary to make them comparable with current year figures.

11. Identification of accounts relating to small industrial undertaking, information for determining the particulars relating to current indebtedness of such undertaking as required under Schedule III Part I of the Company Act, 2013 are not applicable to this company.

12. All the other information's as required under paragraph 3, 4A, 4B, 4C & 4D of part II of Schedule III of the Companies Act, 2013 is either Nil or Not Applicable to the Company.

13. Calculation of Deferred Tax:

Provision for income tax has been made as per the existing provision of the Income Tax, 1961 and as required by Accounting standard AS-22 relating to 'Accounting for taxes on income" issued by the Institute of Chartered Accountants of India, the provision of deferred tax liability, has been made in respect of difference between books depreciation and income tax depreciation, as under:-

14. Contingent liabilities:

There is no contingent liability in the opinion of the Management.

15. Changes after Date of Balance Sheet:

There is no material change occurred after the date of Balance Sheet till date of audit affecting the financial statements as on 31.03.2015.


Mar 31, 2014

1. In the opinion of the Board of Directors, the Current Assets, Loans & Advances have realizable value in the ordinary course of business at least equal to the amount at which they are stated in the balance sheet and the same has been certifies by the Board of Directors.

2. Legal Disputes in Projects undertaken by the company:

(i) Company has entered into a Development Agreement with M/s. Krishna Sagar Builders Ltd. to develop a property situated at Charkop Village, Kandivali (West) admeasuring total area of 1138.78 Sq. Mtrs (Developable Area: 984.90 Sq Mtrs) the total amount incurred on the said project is RS. 446.62 Lacs as on 31st March, 2014 which is under Legal Dispute.

(i) The company has entered into a Joint Venture Agreement with M/s. Krishna Developers through its proprietor Mr. Rajiv Kashyap to develop the property situated at CTS No.484 at Gulmohar Road, Juhu, Mumbai the total amount incurred on the said project is RS. 147.45 Lacs as on 31st March, 2014, which is also under Dispute but the company has made a recovery of RS. 50.70 Lacs in the year 2013 so the net amount incurred on the said project is RS.96.75 Lacs as on 31st March 2014.

3. Related Parties Disclosure:

(i) As per Accounting Standard on "Related Party Disclosure" (AS 18), the related parties of the company as at March 31,2014 are as follows:

(a) Wholly Owned Subsidiary Company: N.A.

(b) Promoter Group/ Holding Company:

* M/s. Bhrarosemand Commodities Pvt Ltd.

(c) Key Management Personal :

* Mr. KailashChandra Sharma - Managing Director

5. Balances of Sundry Debtors, Sundry Creditors, Advances received and recoverable are subject to confirmation and reconciliation, if any from the respective parties.

6. Previous years figures have been regrouped/ rearranged and reclassified wherever necessary to make them comparable with current year figures.

7. Identification of accounts relating to small industrial undertaking, information for determining the particulars relating to current indebt ness of such undertaking as required under Schedule IV Part I of the Company Act, 1956 are not applicable to this company.

8. All the other information''s as required under paragraph 3, 4A, 4B, 4C & 4D of part II of Schedule VI of the Companies Act, 1956 is either Nil or Not Applicable to the Company.

(b) Detailed note on the terms of the rights, preferences and restrictions relating to each class of shares including restrictions on the distribution of dividends and repayment of capital.

i) The Company has only one class of Equity Shares having a par value of RS. 1/- per share. Each holder of Equity Share is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees.

ii) In the event of liquidation of the Company, the holders of Equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of Equity shares held by the shareholders.

(e) Detailed note on shares reserved to be issued under options and contracts / commitment for the sale of shares / divestments including the terms and conditions.

The company does not have any such contract / commitment as on reporting date.

(f) Detailed terms of any securities convertible into shares, e.g. in the case of convertible warrants, debentures, bonds etc.

The company does not have any securities convertible into shares as on reporting date.

9. Amounts due to Micro, Small and Medium Enterprises:

Under the Micro, Small and Medium Enterprises Development Act, 2006 certain disclosures are required to be made related to micro, small and medium enterprise. The company does not have any transactions with such entities.

10. Previous year figures

The figures of the previous year have been re-arranged, re-grouped and re- classified wherever necessary.

11. Amortisation of Preliminery expenses

The Company had incurred some expenses on account of Increase in Authorised Capital and in connection witth the Right Issue of Equity Shares which were treated as Preliminary expenses in the books of Accounts till 31 March 2013 (RS.14,69,675/-) and no such expenses were written off in the books of Accounts. However, the management has framed a policy of Amortising the above Preliminary expenses over a period of 5 years starting from this year.


Mar 31, 2013

Note 1 - Amounts due to Micro, Small and Medium Enterprises:

Under the Micro, Small and Medium Enterprises Development Act, 2006 certain disclosures are required to be made related to micro, small and medium enterprise. The company does not have any transactions with such entities.

Note 2-Previous year fgures

The fgures of the previous year have been re-arranged, re-grouped and re- classifed wherever necessary.

3. In the opinion of the Board of Directors, the Current Assets, Loans & Advances have realizable value in the ordinary course of business at least equal to the amount at which they are stated in the balance sheet and the same has been certifes by the Board of Directors.

4. Legal Disputes in Project undertaken by the company :

(i) Company has entered into a Development Agreement with M/s. Krishna Sagar Builders Ltd. in the previous year to develop a property situated at Charkop Village, Kandivali (West) admeasuring total area of 1138.78 Sq. Mtrs (Developable Area: 984.90 Sq Mtrs) the total amount incurred on the said project is Rs. 446.62 Lacs as on 31st March, 2013 which under legal dispute.

(ii) The company has entered into a Joint Venture Agreement with M/s. Krishna Developers through its proprietor Mr. Rajiv Kashyap to develop the property situated at CTS No.484 at Gulmohar Road, Juhu, Mumbai the total amount incurred on the said project was Rs. 145.20 Lacs as on 31st March, 2012 which is also under dispute but in the year 2013 a recovery of Rs. 51.70 Lacs made agaist this project so the net amount incurred on the said project is Rs. 93.5 Lacs as on 31st March,2013.

5. Related Parties Disclosure:

(i) As per Accounting Standard on "Related Party Disclosure” (AS 18), the related parties of the company as at March 31, 2013 are as follows:

(a) Wholly Owned Subsidiary Company: N.A.

(b) Promoter Group/ Holding Company:

- M/s. Bhrosemand Commodities Pvt Ltd.

(c) Key Management Personal :

- Mr. KailashChand Sharma - Managing Director

- Mr . Nalin Panchal - Excutive Director*

6. Balances of Sundry Debtors, Sundry Creditors, Advances received and recoverable are subject to confrmation and reconciliation, if any from the respective parties.

7. Previous years fgures have been regrouped/ rearranged and reclassifed wherever necessary to make them comparable with current year fgures.

8. Identifcation of accounts relating to small industrial undertaking, information for determining the particulars relating to current indebt ness of such undertaking as required Under Schedule IV Part I of the Company Act, 1956 are not applicable to this company.

9. All the other information''s as required under paragraph 3, 4A, 4B, 4C & 4D of part II of Schedule VI of the Companies Act, 1956 is either Nil or Not Applicable to the Company.


Mar 31, 2012

1. In the opinion of the Board of Directors, the Current Assets, Loans & Advances have realizable value in the ordinary course of business at least equal to the amount at which they are stated in the balance sheet and the same has been certified by the Board of Directors

2. New Project undertaken during the Year :

(i) Company has entered into a Development Agreement with M/s. Krishna Sagar Builders Ltd. to develop a property situated at Charkop Village, Kandivali (West) admeasuring total area of 1138.78 Sq. Mtrs (Developable Area: 984.90 Sq Mtrs) the total amount incurred on the said project is Rs. 441.62 Lacs as on 31st March, 2012.

(ii) The company has entered into a Joint Venture Agreement with M/s. Krishna Developers through its proprietor Mr. Rajiv Kashyap to develop the property situated at CTS No.484 at Gulmohar Road, Juhu, Mumbai the total amount incurred on the said project is Rs. 145.20 Lacs as on 31 st March, 2012.

(iii) Company has entered into contract with various parties to construct the Row Houses at Bombay Hospital Road, Indore. Income from completed Row Houses sold during the year was Rs. 41.89 Lacs which are accounted in this year.

(iv) Company has undertaken infrastructure projects for Road works. Income from these contracts during the year was Rs. 54.02 Lacs.

4. Balances of Sundry Debtors, Sundry Creditors, Advances received and recoverable are subject to confirmation and reconciliation, if any from the respective parties.

5. Previous years figures have been regrouped/ rearranged and reclassified wherever necessary to make them comparable with current year figures.

6. Identification of accounts relating to small industrial undertaking, information for determining the particulars relating to current indebtness of such undertaking as required Under Schedule IV Part I of the Companies Act, 1956 are not applicable to this company.

7. All the other information's as required under paragraph 3,4A, 4B, 4C & 4D of part II of Schedule VI of the Companies Act, 1956 is either Nil or Not Applicable to the Company.


Mar 31, 2011

1. In the opinion of the Board of Directors, the Current Assets, Loans & Advances have realizable value in the ordinary course of business at least equal to the amount at which they are stated in the balance sheet and the same has been certifes by the Board of Directors.

2. Income from operation amounting to Rs.52,958,250/- (TDS Rs.4,22,765/-) is net of payment.

4. New Project undertaken during the Year :

(i) Company has entered into a Development Agreement with M/s. Krishna Sagar Builders Ltd. to develop a property situated at Charkop Village, Kandivali (West) admeasuring total area of 1138.78 Sq. Mtrs (Developable Area: 984.90 Sq Mtrs) against which company has paid Rs.423.68 Lacs till 31st March, 2011 which has been shown under the head Project under Development.

(ii) The company has entered into a Joint Venture Agreement with M/s. Krishna Developers through its proprietor Mr. Rajiv Kashyap to develop the property situated at CTS No.484 at Gulmohar Road, Juhu, Mumbai. against which company has paid Rs.138.50 Lacs till 31st March, 2011 which has been shown under the head Project under Development.

(iii) Company has entered into contract with various parties to construct the Row Houses at Bombay Hospital Road, Indore. Income from completed Row Houses sold during the year was Rs. 3,18,20,000 which are accounted in this year.

(iv) Company has undertaken infrastructure projects for Road works. Income from these contracts during the year was Rs. 2,11,38,250.

7. Related Parties Disclosure:

(i) As per Accounting Standard on "Related Party Disclosure" (AS 18), the related parties of the company as at March 31, 2011 are as follows:

(a) Wholly Owned Subsidiary Company: N.A.

(b) Promoter Group/ Holding Company:

- M/s. Bhrosemand Commodities Pvt Ltd.

(c) Key Management Personal :

- Mr. Kailash C Sharma - Managing Director

- Mr. Nalin Kumar Panchal - Executive Director

8. Balances of Sundry Debtors, Sundry Creditors, Advances received and recoverable are subject to confrmation and reconciliation, if any from the respective parties.

9. Previous years fgures have been regrouped/ rearranged and reclassifed wherever necessary to make them comparable with current year fgures.

10. Identifcation of accounts relating to small industrial undertaking, information for determining the particulars relating to current indebt ness of such undertaking as required Under Schedule IV Part I of the Company Act, 1956 are not applicable to this company.

11. Information about Business Segments:

In accordance with the requirement of Accounting Standard 17 (AS 17) "Segment Reporting" issued by the Institute of Chartered Accountants of India, the Company has identifed two distinguishable primary business segments as under:

a) Media Services

b) Infrastructure & Construction Activities

These segments have been identifed because management perceives that these two businesses are subject to different risks and returns.

The assets used in the Companys business or liabilities which has been classifed under unallocable are the assets and liabilities which have not been identifed to any of the reportable segments as the same are used interchangeably bweetn segments and as such it is not practicable to allocate such assets or liabilities to segments and provide segments disclosures in relation to total assets and liabilities.

12. All the other informations as required under paragraph 3, 4A, 4B, 4C & 4D of part II of Schedule VI of the Companies Act, 1956 is either Nil or Not Applicable to the Company.

 
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