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Notes to Accounts of Navkar Builders Ltd.

Mar 31, 2015

1. Terms and Rights attached to equity Shares

The company has only one class of equity shares having a par value of Rs 10 each. Each holder of equity shares is entitled to one vote per share. The Company declares and pay dividend proposed by the Board of Directors is subject to approval of the Shareholding in the ensuing Annual General Meeting.

2. The company has not issued any Right/ Bonus shares during any preceding year

3. Term Loan from Bank

Term Loans from Union Bank of India of Rs. 467.52 lac (678.12 lac) of which Rs. 200.37 lac (373.54 lac) has been as long term borrowing and Rs. 267.16 lac (304.58 lac) as current maturities of long term borrowing. are sucured by way of Hypothication of Plant & Machineries situated at Plants of the Company, Specific Immovable properties of company and others and Personal Guarantee of two directors, one shareholder and Corporate Guarantee of Associate Principal repayble in equal monthly/quarterly installments.

Interest is payable on Monthly Basis. Applicable Rate of Interest is B.R. 5% p.a. i.e. at Present 15.00% p.a.

4. Loan from Banks

Loans from Various Banks of Rs. Nil (216.45 lac) are secured by way of mortgage on the Plant & Machineries which are situated at Plants of the company and Personal Gaurantee of Directors.

Principal repayble in equal monthly installments.

Applicable rate of interest is within the range of 10.25% - 12% p.a.

5. Vehicle Loans from Banks

Vehcile loans of Rs. 14.31 Lac (20.68) are secured against respective vehicles under the Hire Purchase Contract. Principal repayble in equal monthly installments.

Applicable rate of interest is 12% p.a.

11.1 Capital work in progress includes advances for capital goods Rs. 93,25,776/-

Pursuant to the enactment of Companies Act 2013, the company has applied the estimated useful lives as specified in Schedule II, except in respect of certain assets as

6. disclosed in Accounting Policy on Depreciation, Amortisation and Depletion. Accordingly the unamortised carrying value is being depreciated / amortised over the revised / remaining useful lives.

In accordance with the Schedule II of the Companies Act, 2013, the company has reassessed the estimated useful life of assets. The reassessed useful life is in the line

7. with existing useful life of the assets used by the company for the purpose of the depreciation. Due to this reassessment, the depreciation expense for the year ended 31.03.2015 is higher by Rs. 38.90 Lacs.

8. Related Party Transactions:

As per Accounting Standard - 18- 'Related Party Disclosures', as notified by the Rules, the disclosures of transactions with the related parties as defined in the accounting standard are given below:

A. Related parties with whom transactions have taken place during the year

a) Entities where key management personnel (KMP)/relatives of key management personnel (RKMP) have significant influence -

Parshva Alluminium Co. Pvt Ltd.

Yashnand Engineers & Contractors Parshva Texchem (I) Pvt. Ltd Wild Wood Resorts & Realties Pvt. Ltd Innovative Infraplus India Limited

b) Key management personnel

Dakshesh R. Shah,

Samir C. Patel

c) Entities have significant influence -

Navkar Fiscal Services Pvt. Ltd.

Efficent Tie-up Pvt. Ltd.

a) All the above balances of loans are payable on demand.

b) No loans have been granted by the Company to any person for the purpose of investing in the shares of Navkar Builders Limited.

9. a) In opinion of the directors, contingent liability not provided is Rs. Nil. (Nil)

b) Estimated amount of contracts remaining to be executed on capital account and not provided for: Rs. Nil (Nil).

10. Figures have been rounded off to the nearest rupee and previous year's figures have been regrouped, rearranged and reclassified wherever necessary to confirm with current year's figures.


Mar 31, 2014

1. Related Party Transactions:

As per Accounting Standard - 18 (AS 18) - ''Related Party Disclosures'', as notified by the Rules, the disclosures of transactions with the related parties as defined in the accounting standard are given below:

A. Related parties with whom transactions have taken place during the year

- a) Entities where key management personnel (KMP)/relatives of key management personnel (RKMP) have significant influence -

Parshva Alluminium Co. Pvt Ltd., Yashnanad Engineers & Contractors, Parshwa Texchem (I) P. Ltd, Wild wood resorts & realties Pvt. Ltd Anar Project Ltd

b) Associate Company

Navkar Fiscal Services Private Limited

c) Key management personnel

Dakshesh R, Shah, Samir C. Patel

Note:

a) All the above balances of loans are including accrued interest and are payable on demand.

b) No loans have been granted by the Company to any person for the purpose of investing in the shares of Navkar Builders Limited.

2. In opinion of the directors, contingent liability not provided is Rs. Nil. (Previous Year Rs. Nil)

3. Estimated amount of contracts remaining to be executed on capital account and not provided for: Rs. Nil (Nil)

4. Figures have been rounded off to the nearest rupee and previous year''s figures have been regrouped, rearranged and reclassified wherever necessary N to confirm with current year''s figures.

Note:

a) All the above balances of loans are including accrued interest and are payable on demand.

b) No loans have been granted by the Company to any person for the purpose of investing in the shares of Navkar Builders Limited.

5. In opinion of the directors, contingent liability not provided is Rs. Nil. (Previous Year Rs. Nil)

6. Estimated amount of contracts remaining to be executed on capital account and not provided for: Rs. Nil (Nil).

7. Figures have been rounded off to the nearest rupee and previous year''s figures have been regrouped, rearranged and reclassified wherever necessary '' to confirm with current year''s figures.


Mar 31, 2013

1. Related Party Transactions:

As per Accounting Standard - 18 (AS 18) – ''Related Party Disclosures'', as notified by the Rules, the disclosures of transactions with the related parties as defined in the accounting standard are given below:

A. Related parties with whom transactions have taken place during the year

a) Entities where key management personnel (KMP)/relatives of key management personnel (RKMP) have significant influence – Parshva Alluminium Co. Pvt Ltd., Yashnanad Engineers & Contractors

b) Associate Company

Navkar Fiscal Services Private Limited

c) Key management personnel Dakshesh R. Shah, Samir C. Patel

Note:

a) All the above balances of loans are including accrued interest and are payable on demand.

b) No loans have been granted by the Company to any person for the purpose of investing in the shares of Navkar Builders Limited.

2. In opinion of the directors, contingent liability not provided is Rs. Nil. (Previous Year Rs. Nil)

3. Estimated amount of contracts remaining to be executed on capital account and not provided for: Rs. Nil (Nil).

4. Figures have been rounded off to the nearest rupee and previous year''s figures have been regrouped, rearranged and reclassified wherever necessary to confirm with current year''s figures.

 
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