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Notes to Accounts of RCL Retail Ltd.

Mar 31, 2015

1 Background

RCL Retail Limited was originally incorporated as private limited company on 29.09.2010 in the State of Tamilnadu which was subsequently converted to public company as on 23.03.2011 having its registered office in Chennai. The Company is engaged in the business of trading of food and processed foods.

2. Terms / rights attached to eauity shares

The Company has only one class of shares referred to as equity shares having a par value of Rs.10. Each holder of equity shares is entitled to one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. The Company declares dividend in Indian rupees and pays dividend to shareholders outside India in foreign currency based on the rates prevailing on the date of such remittances, with respect to other shareholders, dividend is paid in Indian rupees.

In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding. During the year ended March 31, 2015, the Company has not declared any dividend.

3. Contingent Liabilities And Commitments: As at As at

i) Contingent Liabilites 31-Mar-15 31-Mar-14

Claims against the company not acknowledged as debts - -

ii) Commitments:

Estimated amount of contracts remaining to be executed on capital account - 87,411 and not provided for

4. Segment reporting

The Company is engaged in only one business namely trading of food and processed foods and the operations primarily cater to the needs of the domestic market. Accordingly there are no separate reportable segments according to AS 17 'Segment Reporting' issued under the Companies (Accounting Standards) Rules, 2006.

5. Related party transactions

a) Names of related parties and nature of relationship are as follows:

Nature of relationship Name of the related party

Associate company RCL Foods Limited

RCL Enterprise Private limited

Key management personnel (KMP) Nitesh R Lodha

b Details of related party transactions

6. Retirement benefits Gratuity Plan

Based on actuarial valuation necessary provision has been created in the books to meet the liability as per Accounting Standard 15 (R).

7. Previous years figures have been regrouped/rearranged wherever necessary.


Mar 31, 2014

1 Background

RCL Retail Limited was originally incorporated as private limited company on 29.09.2010 in the State of Tamilnadu which was subsequently converted to public company as on 23.03.2011 having its registered office in Chennai. The Company is engaged in the business of trading of food and processed foods.

2. a) Terms / rights attached to equity shares

The Company has only one class of shares referred to as equity shares having a par value of Rs.10. Each holder of equity shares is entitled to one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. The Company declares dividend in Indian rupees and pays dividend to shareholders outside India in foreign currency based on the rates prevailing on the date of such remittances, with respect to other shareholders, dividend is paid in Indian rupees.

In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding. During the year ended March 31, 2014, the Company has not declared any dividend.

Note b: Secured by hypothecation of Stock-in-Trade,supply bills & additional charge by way of equitable mortgage of land and building.

3 Contingent Liabilities And Commitments: As at As at 31-Mar-14 31-Mar-13 i) Contingent Liabilites

Claims against the company not - - acknowledged as debts

ii) Commitments:

Estimated amount of contracts remaining 87,411 - to be executed on capital account and not provided for 9 Segment reporting

The Company is engaged in only one business namely trading of food and processed foods and the operations primarily cater to the needs of the domestic market. Accordingly there are no separate reportable segments according to AS 17 ''Segment Reporting'' issued under the Companies (Accounting Standards) Rules, 2006.

4 Micro, Small and Medium Enterprises Development Act, 2006

The management has identified enterprises which have provided goods and services to the Company and which qualify under the definition of micro and small enterprises, as defined under Micro, Small and Medium Enterprises Development Act, 2006. Accordingly, the disclosure in respect of the amount payable to such enterprises as at 31 March, 2014 has been made in the financial statements based on information received and available with the Company, to the extent identified by the management and relied upon by the auditors. The details of overdue amount and interest payable are set out below.

5 Retirement benefits Gratuity Plan

Based on actuarial valuation necessary provision has been created in the books to meet the liability as per Accounting Standard 15 (R).

6 Previous years figures have been regrouped/rearranged wherever necessary.


Mar 31, 2013

1 Background

RCL Retail Limited was originally incorporated as private limited company on 29.09.2010 in the State of Tamilnadu which was subsequently converted to public company as on 23.03.2011 having its registered office in Chennai. The Company is engaged in the business of trading of food and processed foods.

2 Segment reporting

The Company is engaged in only one business namely trading of food and processed foods and the operations primarily cater to the needs of the domestic market. Accordingly there are no separate reportable segments according to AS 17 ''Segment Reporting'' issued under the Companies (Accounting Standards) Rules, 2006.

3 Value of Imports (On C.I.F Basis) - -

4 Earnings in Foreign Currency : - -

5 Expenditure in Foreign Currency : - -

6 Micro, Small and Medium Enterprises Development Act, 2006

The management has identified enterprises which have provided goods and services to the Company and which qualify under the definition of micro and small enterprises, as defined under Micro, Small and Medium Enterprises Development Act, 2006. Accordingly, the disclosure in respect of the amount payable to such enterprises as at 31 March, 2012 has been made in the financial statements based on information received and available with the Company, to the extent identified by the management and relied upon by the auditors. The details of overdue amount and interest payable are set out below.

7 Retirement benefits

Gratuity Plan

Based on actuarial valuation necessary provision has been created in the books to meet the liability as per Accounting Standard 15 (R).

The following table sets out the status of the gratuity plan as required under AS 15 (Revised 2005). Reconciliation of opening and closing balances of the present value of the defined benefit obligation.

8 The Company completed a public issue of 58,05,000 equity shares of face value 10/- each for cash at a par aggregating to Rs.5,80,50,000. The Company completed the allotment of the above shares on 22nd Oct, 2012.

9 Previous years figures have been regrouped/rearranged wherever necessary.

 
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