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Notes to Accounts of Ravindra Energy Ltd.

Mar 31, 2015

1. Sundry Debtors, Sundry Creditors and all Advance Accounts are subject to confirmation.

2 Contingent Liability 2014-15 2013-14

Corporate Guarantee 2,559.96 3,500.37

MVAT FY (2009-10) Appeal pending before Sales Tax Tribunal, Mumbai 24.36 7.13

MVAT FY (2008-09) Appeal pending before Sales Tax Tribunal, Mumbai 6.55 6.55

2. RELATED PARTY DISCLOSURES

Subsidiary Companies

i. Vantamuri Trading and Investments Limited

ii. Agri Venture Trading and Investment Private Limited

iii. Damodar Resource Holdings, (FZE) (UAE)

iv. Renuka Energy Resource Holdings, (FZE) (UAE)

v. Pt. Renuka Jambi (Indonesia)

vi. Renuka Resource (Singapore) Pte Ltd (Singapore)

vii. Pt. Nagarta Coal Fields (Indonesia)

viii. Pt.Renuka Coal Indo TBK (Indonesia)

ix. Pt. Jambi Prima Coal (Indonesia)

x. Renuka Global Minerals, (Mauritius)

xi. Mineracao Elefante Ltda (Brazil)

xii. Minerales Elefante S.A.S (Colombia)

xiii. Pt Bandargah Mandiangin Internasional (Indonesia)

xiv. Pt Surya Global Makmur (Indonesia)

xv. Nandur Sugars Limited

Key Management personnel

I. Mr. J. Suresh Kumar

ii. Mr. Sidram Kaluti

iii. Mr. Ramnath Sadekar

Related Parties

i. Shree Renuka Sugars Limited

ii. Murkumbi Investments Private Limited

iii. Khandepar Investments Private Limited

iv. Renuka Commodities DMCC

3. During the year ended 31 st March 2015, the Company has revised the useful life of fixed assets as specified in schedule II of the Companies Act, 2013. Accordingly, the carrying value of fixed assets as on 1st April, 2014, has been depreciated over the revised remaining useful life of such asset. As a result of this change, the net depreciation charge for the year ended 31st March, 2015 is higher by 1,33,243/-. Further, an amount of Rs. 1,05,658/- has been charged to the opening balance of the retained earnings representing carrying value of assets, whose remaining useful life is Nil, as at 1st April, 2014, as per the transitional provision prescribed in note 7(b) of Schedule II of the Companies Act, 2013.

4. Previous year figures have been regrouped and reclassified wherever necessary.


Mar 31, 2014

1. CURRENT INVESTMENTS

* Note: These companies have applied for voluntary winding-up u/s 560 of the Companies Act'' 1956. As on 31st March 2014, it is pending for strike-off with the respective registrar of companies. The loss on Investment is estimated to be Rs. 0.30 millions and will be wrtten-off against strike-off of name.

2. OTHER NOTES TO ACCOUNTS

i. A Scheme of Amalgamation ("the Scheme"), for the amalgamation of Shree Renuka Energy Limited (SREL) called "the Transferor Company" with Ravindra Energy Limited (the Transferee Company) with effect from April 1, 2012, ("the Appointed Date"), was sanctioned by the Hon''ble High Court of Judicature at Bombay ("the Court’), vide its Order dated March 28, 2014 and certified copies of the Order of the Court sanctioning the Scheme were filed with the Registrar of Companies, Maharashtra on March 31, 2014 (the "Effective Date"). Accordingly, the standalone results of the Company for the year ended March 31, 2014, include the results of the erstwhile SREL for the financial year ended March 31, 2014.

ii. Sundry Debtors, Sundry Creditors and all Advance Accounts are subject to confirmation.

iii. Contingent Liability: 2013-14 2012-13

Corporte Guarantee 3,500.37 3,198.81

MVAT FY (2009-10) Appeal pending before Joint Comm. Kolhapur 7.13 -

MVAT FY (2008-09) Appeal pending before Sales Tax Tribunal, Mumbai 6.55 -

3. RELATED PARTY DISCLOSURES

Subsidiary Companies:

i. Vantamuri Trading and Investments Limited

ii. Agri Venture Trading and Investment Private Limite

iii. Damodar Resource Holdings, (FZE) UAE

iv. Renuka Energy Resource Holdings, (FZE) UAE

v. Pt. Renuka Jambi (Indonesia)

vi. Renuka Resource (Singapore) Pte Ltd

vii. Pt. Nagarta Coal Fields (Indonesia)

viii. Pt. Renuka Coal Indo TBK (Indonesia)

ix. Pt. Jambi Prima Coal (Indonesia)

x. Renuka Global Minerals, Mauritius

xi. Mineracao Elefante Ltda (Brazil)

xii. Minerales Elefante S.A.S (Colombia)

xiii. Shree Renuka Energy Urja Private Limited

xiv. Shree Renuka Ports Pvt. Ltd.

xv. Shree Renuka Resources Pvt. Ltd.

xvi. Shree Renuka Energy Infrastructure Pvt. Ltd.

xvii. Pt. Bandargah Mandiangin Internasional.

xviii. Nandur Sugars Ltd.



Key Management personnel

i. Mr. Vishwanath Mathur

ii. Mr. Sunil Bhide

iii. Mr. Basanagoud G. Patil

Companies coming under same management

i. Shree Renuka Sugars Limited

ii. Murkumbi Investments Private Limited

iii. Khandepar Investments Private Limited

iv. Renuka Commodities DMCC

4. Previous year figures have been regrouped and reclassified whereever necessary.


Mar 31, 2013

A. Previous year''s figures have been regrouped /rearranged wherever considered necessary.

B. The Company has not entered into any transactions with entities covered under the Micro, Small and Medium Enterprises Development Act, 2006. Accordingly, disclosure of such transactions does notarise.


Mar 31, 2012

A. Previous year's figures have been regrouped/rearranged wherever considered necessary.

b. The Company has not entered into any transactions with entities covered under the Micro, Small and Medium Enterprises Development Act, 2006. Accordingly, disclosure of such transactions does not arise.


Mar 31, 2009

1. These are consistent with the generally accepted accounting practices.

2. Balances, in respect of Unsecured Loans, Loans & Advances, Sundry Creditors & Advances Received against Sale of Share are subject to confirmation & reconciliation.

3. In the opinion of the Board, the value of the realisation of current assets, loans & advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance sheet and all known liabilities is adequate and not in excess of the amount reasonably required.

4. Previous years figures have been reclassified, regrouped wherever necessary. All the figures have been rounded off to the nearest rupee.

5. As per the information available with the company there are no dues outstanding to any Small Scale Industrial undertaking as defined under the interest on Delayed Payment to Small Scale and Ancillary Industrial Undertaking Act, 1993.

6. Additional information pursuant to the provision of Paragraph 3,4C & 4D and other information pursuant to the part of schedule VI of the Companies Act, 1956 to the extent applicable to the company.

7. RELATED PARTY DISCLOSURE : A. List of Related Parties:

Key Management Personnel

- Vishwanath Mathur - Director

- G. A Desai - Director

- B.G. Patil - Director

- B.K. Lohia - Director

8. In view of the time limitations on carry forward of losses and as a matter of prudence deferred tax assets arising on accounts of brought forward losses and deprecation under tax laws has not been recognized.

9. The Company does not have a full time Company Secretary as required under Section 383 of the Companies Act, 1956. However the company has obtained a Compliance Certificate from the full time practicing company Secretary.

 
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