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Notes to Accounts of RDB Realty & Infrastructure Ltd.

Mar 31, 2015

A. The rights, preferences & restrictions attaching to shares and restrictions on distribution of dividend and repayment of capital

The Company has only one class of equity shares having par value of Rs. 10 per share. Each Shareholder is eligible for one vote. The dividend proposed by the Board of Directors is subject to the approval of shareholders, except in case of interim dividend.

i) 1,07,50,000 Shares were issued in the FY 10-11 to the Shareholders of NTC Industries Ltd. (Formerly RDB Industries Ltd.) in pursuance of scheme of arrangement for demerger of Real Estate Division of RDB Industries Ltd. (Now known as NTC Industries Ltd.)

ii) As per the scheme of amalgamation in the FY 12-13 of Pincha Home Builders Private Limited (The Transferor Company) and

RDB Realty & Infrastructure Limited (The Transferee Company) as approved by Honourable High Court at Calcutta, company has issued 64,83,400 Nos. of Shares to the shareholders of the Pincha Home Builders Private Limited. in the ratio 1:2.2 (Refer Note No. 35)

2. Employee Defined Benefits:-

a) Defined Contribution Plans: The Company has recognised an expense of Rs. 1.17 Lacs (Previous Year Rs. 1.14 Lacs) towards the defined contribution plans.

b) Defined Benefit Plans: As per actuarial valuation as on March 31, 2015 and recognised in the financial statements in respect of Employee Benefit Schemes:

3. Segment Reporting:-

The Business of the company fall under a single segment i.e. "Development of Real Estate & Infrastructure". In view of the general classification notified by Central Government in exercise of power conferred u/s 129 of Companies Act, 2013 for company operating in a single segment, the disclosure requirement as per AS - 17 on 'Segment Reporting' is not applicable to the company. The Company's business is mainly concentrated in similar geographical, political and economical conditions; hence disclosure for Geographical segment is also not required.

* Entire holding of the Company was disposed off as on 20.03.2015

** Holding was disposed as on 28.07.2014 consequently the holding is reduced to 53.63%.

*** 7000 shares representing 70% of the paid up share capital of the company were acquired by Parent Company as on 01.07.2014 (B) Partnership Firm/LLP:-

4. In the opinion of the Board the Current Assets, Loans and Advances are not less than the stated value if realised in ordinary course of business. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary. There is no contingent liability except stated and informed by the Management.

5. Interest on Short Term Borrowings included under the relevant loan, as it is deemed to have been converted into loan as and when credited as per terms.

6. Disclosure relating to Amalgamation as per AS-14

a) The scheme of amalgamation has taken place between Pincha Home Builders Private Limited (the Transferor Company) and RDB Realty & Infrastructure Ltd (the Transferee Company) both are dealing in construction activities.

b) The Effective date of Amalgamation is 1st April, 2012.

c) Pooling of interest method of accounting has been used to reflect the amalgamation.

d) The scheme of amalgamation of Pincha Home Builders Private Limited (the Transferor Company) and RDB Realty & Infrastructure Ltd (the Transferee Company) has been approved by the Honourable High Court at Calcutta. Hence, the effect of amalgamation has been incorporated in the books of accounts.

e) 64,83,400 Nos. of Equity Shares issued against 29,47,000 Nos. of Equity Shares of Pincha Home Builders Private Limited in the ration 1:2.2.

f) Net Assets Aquired amounted Rs. 15,28,18,275/-

7. Contingent Liabilities:-

a) On account of Guarantee Rs. 1475.59 lacs (Previous Year Rs. 2306.25 lacs) issued by the company's bankers to the Contractee for projects under EPC Division.

b) During the year under review, demand has been raised by Income Tax Department for Rs.277.94 Lacs against company for the Asst Year 11 - 12 and 12 - 13 for which appeal have been filed with Commissioner (Appeal) of Income Tax.

8. During the year under review, HSCC Limited (contractor) a government of India undertaking has revoked contract for construction of hostel and O.P.D under the control of Regional Institute of Medical Science at Imphal consequent to such revocation the contractor has revoked the Bank Guarantee issued in favour of contractor amounting to Rs. 557.75 lacs. The contract was executed by a sub-contractor, as per the terms of contract with RDBRIL, the sub-contractor is liable to bear any damages/loss/expenses suffered by RDBRIL. Hence, no provision has been made for the same.

9. During the year under review, the company has changed the method of providing depreciation on fixed assets from W.D.V. to S.L.M., persuant to the change, depreciation the current year is short by Rs. 22.09 Lacs. Further depreciation up to 31.03.14 has been charged in excess by Rs. 153 Lacs.

10. The Company has adopted useful lives of the fixed assets as those specified in Part "C" of Schedule II to the Companies Act, 2013 ("the Act"). Accordingly carrying amount of assets, for which the useful lives as per the revised estimate are exhausted as of 1st April, 2014 have been adjusted with the opening balance retained earning as on that date after retaining the residual value of those assets. For the other assets, the carrying amount as of 1st April, 2014 will be amortised over the remaining useful lives of the assets. Rs. 4.22 Lacs has been adjusted with the opening retained earning as of 1st April' 2014.

11. The figures of Previous Year have been recast, regrouped wherever considered necessary.


Mar 31, 2014

1. The rights, preferences & restrictions attaching to shares and restrictions on distribution of dividend and repayment of capital

The Company has only one class of equity shares having par value of Rs. 10 per share. Each Shareholder is eligible for one vote. The dividend proposed by the Board of Directors is subject to the approval of shareholders, except in case of interim dividend.

2. Segment Reporting

The Business of the company fall under a single segment i.e. "Development of Real Estate & Infrastructure". In view of the general classification notified by Central Government in exercise of power conferred u/s 211(3C) of Companies Act, 1956 for company operating in a single segment, the disclosure requirement as per AS - 17 on ..Segment Reporting is not applicable to the company. The Companys business is mainly concentrated in similar geographical, political and economical conditions; hence disclosure for Geographical segment is also not required.

3. Related Party Disclosures in accordance with AS -18

(i) Enterprises where control exists (A) Subsidiaries:-

Sl. No. Name of Company

1 Bahubali Tie-Up Private Limited

2 Baron Suppliers Private Limited

3 Bhagwati Builders & Development Private Limited

4 Bhagwati Plasto Works Private Limited

5 Headman Mercantile Private Limited

6 Kasturi Tie-Up Private Limited

7 Triton Commercial Private Limited

8 Rathi Ess En Finance Co. Private Limited

9 Raj Construction Projects Private Limited

10 RDB Legend Infrastructure Private Limited

11 RDB Realty Private Limited

(B) Partnership Firm:-

Sl. No. Name of the Firm

1 Bindi Developers

2 Unique RDB Realty

(ii) Other related parties with whom the company had transactions

(A) Key Management Personnel & their relatives:-

Sl. No. Name Designation /Relationship

1 Sunder Lal Dugar Chairman and Managing Director

2 Pradeep Kumar Pugalia Whole Time Director

(B) Enterprises over which Key Management Personnel/Major Shareholders ATheir Relatives have Significant Influence: -

Sl.No. Name of Enterprise

1 BFM Industries Limited

2 Humraj Commodities Private Limited

3 Khatod Investment & Finance Company Limited

4 Loka Properties Private Limited

5 Modak Vyapar Private Limited

6 NTC Industries Limited

7 Pyramid Sales Private Limited

8 MKN Investment Private Limited

9 Ranchhod Vanijya Private Limited

10 RD Devcon Private Limited

11 Regent Education & Reserch Centre

12 S.D.Infrastructure & Real Estate Private Limited

13 Samspa Expo Private Limited

14 Somani Estates Private Limited

15 Veekay Apartments Private Limited

4. In the opinion of the Board the Current Assets, Loans and Advances are not less than the stated value if realised in ordinary course of business. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary. There is no contingent liability except stated and informed by the Management.

5. Disclosure relating to Amalgamation as per AS-14

a) The scheme of amalgamation has taken place between Pincha Home Builders Private Limited (the Transferor Company) and RDB Realty & Infrastructure Ltd (the Transferee Company) both are dealing in construction activities.

b) The Effective date of Amalgamation is 1st April, 2012.

c) Pooling of interest method of accounting has been used to reflect the amalgamation.

d) The scheme of amalgamation of Pincha Home Builders Private Limited (the Transferor Company) and RDB Realty & Infrastructure Ltd (the Transferee Company) has been approved by the Honourable High Court at Calcutta. Hence, the effect of amalgamation has been incorporated in the books of accounts.

e) 64,83,400 Nos. of Equity Shares issued against 29,47,000 Nos. of Equity Shares of Pincha Home Builders Private Limited in the ration 1:2.2.

f) Net Assets Aquired amounted Rs. 15,28,18,275/-

6. Contingent Liabilities:-

a) On account of Guarantee Rs. 23,06,24,812/- (Previous Year Rs. 20,10,18,812/-) issued by the companys bankers to the Contractee for projects under EPC Division.

b) Rs. 32,07,510/- (Previous Year Rs. 32,07,510/-) on account of Service Tax collected from flat owners of Regent Enclave and deposited to the credit of central government. Flat owners filed a suit against company, claiming refund of Service Tax.

7. The figures of Previous Year have been recast, regrouped wherever considered necessary.


Mar 31, 2013

1. SEGMENT REPORTING

The Business of the company fall under a single segment i.e. "Development of Real Estate & Infrastructure". In view of the general classification notified by Central Government in exercise of power conferred u/s 211(3C) of Companies Act, 1956 for company operating in a single segment, the disclosure requirement as per AS -17 on ''Segment Reporting'' is not applicable to the company. The Company''s business is mainly concentrated in similar geographical, political and economical conditions; hence disclosure for Geographical segment is also not required.

2. In the opinion of the Board the Current Assets, Loans and Advances are not less than the stated value if realised in ordinary course of business. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary. There is no contingent liability except stated and informed by the Management.

3. DISCLOSURE RELATING TO AMALGAMATION AS PER AS-14

a) The scheme of amalgamation has taken place between Pincha Home Builders Private Limited (the Transferor Company) and RDB Realty & Infrastructure Ltd (the Transferee Company) both are dealing in construction activities.

b) The Effective date of Amalgamation is 1st April, 2012.

c) Pooling of interest method of accounting has been used to reflect the amalgamation.

d) The scheme of amalgamation of Pincha Home Builders Private Limited (the Transferor Company) and RDB Realty & Infrastructure Ltd (the Transferee Company) has been approved by the Honourable High Court at Calcutta. Hence, the effect of amalgamation has been incorporated in the books of accounts.

e) 64,83,400 Nos. of Equity Shares issued against 29,47,000 Nos. of Equity Shares of Pincha Home Builders Private Limited in the ratio 1:2.2.

f) Net Assets Acquired amounted Rs. 15,28,18,275/-

4. CONTINGENT LIABILITIES

a) On account of Guarantee Rs. 20,10,18,812/- (Previous Year Rs. 24,06,73,812/-) issued by the company''s bankers to the Contractee for projects under EPC Division.

b) Rs. 32,07,510/- (Previous Year Rs. 32,07,510/-) on account of Service Tax collected from flat owners of Regent Enclave and deposited to the credit of central government. Flat owners filed a suit against Company, claiming refund of Service Tax.

5. The figures of Previous Year have been recast and regrouped wherever considered necessary.


Mar 31, 2012

A. The rights, preferences & restrictions attaching to shares and restrictions on distribution of dividend and repayment of capital The Company has only one class of equity shares having par value of Rs10 per share. Each Shareholder is eligible for one vote. The dividend proposed by the Board of Directors is subject to the approval of shareholders, except in case of interim dividend.

*10750000 Shares were issued to the Shareholders of RDB Industries Ltd. (Now known as NTC Industries Ltd.) in pursuance of scheme of arrangement for demerger of Real Estate Division of RDB Industries Ltd. (Now known as NTC Industries Ltd.)

i) If the scheme of amalgamation of Pincha Home Builders Private Limited (The Transferor Company) and RDB Realty & Infrastructure Limited (The Transferee Company) is approved by Honourable High Court at Calcutta, company will issue 64,83,400 Nos. of Shares to the shareholders of the Pincha Home Builders Private Limited.

1. SEGMENT REPORTING

The Business of the Company fall under a single segment i.e., "Development of Real Estate & Infrastructure". In view of the general classification notified by Central Government in exercise of power conferred u/s 211(3C) of Companies Act, 1956 for Company operating in a single segment, the disclosure requirement as per AS - 17 on 'Segment Reporting' is not applicable to the Company. The Company's business is mainly concentrated in similar geographical, political and economical conditions; hence disclosure for Geographical segment is also not required.

2. In the opinion of the Board the Current Assets, Loans and Advances are not less than the stated value if realized in ordinary course of business. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary. There is no contingent liability except stated and informed by the Management.

3. The scheme of amalgamation of Pincha Home Builders Private Limited (the Transferor Company) and RDB Realty & Infrastructure Ltd (the Transferee Company) is pending for approval with the Honourable High Court at Calcutta before the finalization of accounts of company. Hence, effect of amalgamation is not incorporated.

4. CONTINGENT LIABILITIES

a) On account of Guarantee Rs24,06,73,812/- (Previous Year Rs15,51,32,746/-) issued by the Company's bankers to the Contractee for projects under EPC Division.

b) Rs32,07,510/- (Previous Year Rs32,07,510/-) on account of Service Tax collected from flat owners of Regent Enclave and deposited to the credit of Central Government. Flat owners filed a suit against Company, claiming refund of Service Tax.

5. The financial statements for the year ended 31st March 2011 had been prepared as per the then applicable, pre-revised Schedule VI to the Companies Act,1956. Consequent to the notification the revised Schedule VI under the Companies Act, 1956, the financial statement for the year ended 31st March 2012 are prepared as per revised Schedule VI. Accordingly, the previous year have also been reclassified / regrouped to confirm to this year's classification. The adoption of revised Schedule VI for previous year figures does not impact recognition and measurement principles followed for preparation of financial statements.

 
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