Home  »  Company  »  Reliance Ind.Inf  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Reliance Industrial InfraStructure Ltd.

Mar 31, 2016

1.1 Gross Block includes Rs, 53 00.88 lakh (Previous Year Rs, 53 00.88 lakh) being the amount added on revaluation of Plant and Machiner y as at 01.04.1997.

1.2 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 disclosed in Accounting Policy on Depreciation, Amortisation and Deplition. Accordingly the unamortised carrying value is being depreciated / amortised over the revised / remaining useful lives. The written down value of Fixed Assets whose lives have expired as at 1st April 2014 have been adjusted net of tax, in the opening balance of Profit and Loss Account of the year ended 31st March, 2015, amounting to Rs, 1 02.87 lakh.

1.3 Capital Work-in-Progress include Rs, 56.83 lakh (Previous Year Rs, 1 32.49 lakh) on account of Capital Goods Inventory.

The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market. The above information is certified by the Actuary.

The expected rate of return on Plan Assets is determined considering several applicable factors mainly, the composition of Plan Assets held, assessed risks, historical result of return on Plan Assets and the Company''s policy for Plan Asset Management.

2. SEGMENT INFORMATION

The Company is mainly engaged in Infrastructure Activity in India. All activities of the Company revolve around this main business. As such, there are no separate reportable segments as per the Accounting Standard (AS) - 17 "Segment Reporting".

3. RELATED PARTY DISCLOSURE

As per Accounting Standard 18, disclosures of the transactions with the related parties as defined in the Accounting Standard are given below.

(i) List of related parties with whom transactions have taken place and relationships:

Name of the Related Party Relationship

Reliance Industries Limited Entity Exercising Significant Influence

Reliance Europe Limited Associate

Shri Dilip V. Dherai Key Managerial Personnel

4. Charity and Donations include expenditure related to Corporate Social Responsibility as per Section 135 of the Companies Act, 2013 read with Schedule VII thereof: Rs, 70 lakh (previous year Rs, 70 lakh).

Gross amount required to be spent as per aforesaid provision is Rs, 62.13 lakh.

The amount spent on CSR activity during the financial year 2015 - 16 was utilised for promoting Health Care, including Preventive Health Care.

5. Income tax assessments of the Company have been completed up to Assessment Year 2012 - 13. There is no disputed demand outstanding up to the said Assessment Year.

6. Estimated amount of contracts remaining to be executed on capital account is Nil (Previous Year Rs, 52.14 lakh) and not provided for (net of advances).

7. Details of Loans given, Investments made, Guarantees given and Securities provided during the year covered under Section 186(4) of the Companies Act, 2013:

i) Loans given Rs, Nil (Previous Year Rs, Nil)

ii) Investment made Rs, Nil (Previous Year Rs, Nil)

iii) Guarantees given and Securities provided by the Company in respect of loan Rs, Nil (Previous Year Rs, Nil)


Mar 31, 2015

1. Income tax assessments of the Company have been completed up to Assessment Year 2012-2013. The disputed demand outstanding up to the said Assessment Year is Rs. Nil (Previous Year Rs. 2.34 lakh).

2. Estimated amount of contracts remaining to be executed on capital account is Rs. 52.14 lakh (Previous Year Rs. 32.20 lakh) and not provided for (net of advances).

3. Details of Loans given, Investments made, Guarantees given and Securities provided covered under Section 186(4) of the Companies Act, 2013:

i) Loans given Rs. Nil (Previous year Rs. Nil).

ii) Investments made Rs. Nil (Previous Year Rs. Nil).

iii) Guarantees given and Securities provided by the Company in respect of loans Rs. Nil (Previous Year Rs. Nil).


Mar 31, 2014

1. SEGMENT INFORMATION

The Company is mainly engaged in Infrastructure Activity in India. All activities of the Company revolve around this main business. As such, there are no separate reportable segments as per the Accounting Standard on Segment Reporting (AS - 17).

2. RELATED PARTY DISCLOSURES

As per Accounting Standard 18, disclosures of the transactions with the related parties as defined in the Accounting

Standard are given below:

(i) List of Related Parties with whom transactions have taken place and Relationships : Name of the Related Party Relationship

Reliance Industries Limited Entity exercising significant influence

Shri Dilip V. Dherai Key Managerial Personnel


Mar 31, 2013

1.1 Leasehold Land includes Rs. 23.44 lakh (Previous Year Rs. 23.44 lakh) in respect of which lease deed is pending execution.

1.2 Gross Block includes Rs. 53 00.88 lakh being the amount added on revaluation of Plant and Machinery as at 01.04.1997. Consequent to the said revaluation there is an additional charge of depreciation of Rs. 34.03 lakh (Previous Year Rs. 42.90 lakh) and an equivalant amount has been withdrawn from Revaluation Reserve and credited to the Profit and Loss Account.

* includes provision for loss on impairment, Rs. 0.75 lakh (Previous Year Rs. 0.75 lakh).

A. Defined Benefit Plan :

The employees'' gratuity fund scheme managed by Life Insurance Corporation of India is a defined benefit plan. The present value of obligation is determined based on the actuarial valuation using the Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is recognised in the same manner as gratuity.

The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market. The above information is certified by the actuary.

The expected rate of return on plan assets is determined considering several applicable factors mainly, the composition of plan assets held, assessed risks, historical result of return on plan assets and the Company''s policy for plan asset management.

2. SEGMENT INFORMATION :

The Company is mainly engaged in Infrastructure Activity in India. All activities of the Company revolve around this main business. As such, there are no separate reportable segments as per the Accounting Standard on Segment Reporting (AS - 17).

3. Income tax assessments of the Company have been completed up to Assessment Year 2010-2011. The total demand raised by the Income Tax department up to the said assessment year is Rs. 32.80 lakh (Previous Year Rs. 1 38.08 lakh). Based on the decisions of the Appellate authorities and the interpretations of other relevant provisions, the Company has been legally advised that the demand is likely to be either deleted or substantially reduced and accordingly no provision has been made.

4. Estimated amount of contracts remaining to be executed on capital account is Rs. 20 42 lakh (Previous Year Rs. 4 19.05 lakh) and not provided for (net of advances).


Mar 31, 2012

1 The previous year figures have been regrouped/reclassified, wherever necessary to conform to the current year presentation.

2. Leasehold Land includes Rs. 23.44 lakh (Previous Year Rs. 23.44 lakh) in respect of which lease deed is pending execution.

3. Gross Block includes Rs. 5300.88 lakh being the amount added on revaluation of Plant and Machinery as at 01.04.1997. Consequent to the said revaluation there is an additional charge of depreciation of Rs. 42.90 lakh (Previous Year Rs. 54.06 lakh) and an equivalant amount has been withdrawn from Revaluation Reserve and credited to the Profit and Loss Account.

* includes provision for loss on impairment, Rs. 0.75 lakh (Previous Year Rs. 0.75 lakh),

4. Balance with banks include Rs. 75.61 lakh (Previous Year Rs. 62.91 lakh) earmarked for dividend payment.

B. Defined Benefit Plan

The employees' gratuity fund scheme managed by Life Insurance Corporation of India is a defined benefit plan. The present value of obligation is determined based on the actuarial valuation using the Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is recognised in the same manner as gratuity.

The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market. The above information is certified by the actuary. The expected rate of return on plan assets is determined considering several applicable factors mainly, the composition of plan assets held, assessed risks, historical result of return on plan assets and the Company's policy for plan asset management.

5. SEGMENT INFORMATION

The Company is mainly engaged in Infrastructure Activity in India. All activities of the Company revolve around this main business. As such, there are no separate reportable segments as per the Accounting Standard on Segment Reporting (AS - 17).

6. Income tax assessments of the Company have been completed up to Assessment Year 2009-2010. The total demand raised by the Income Tax department up to the said assessment year is Rs. 138.08 lakh (Previous Year Rs. 148.85 lakh). Based on the decisions of the Appellate authorities and the interpretations of other relevant provisions, the Company has been legally advised that the demand is likely to be either deleted or substantially reduced and accordingly no provision has been made.

7. Estimated amount of contracts remaining to be executed on capital account is Rs. 419.05 lakh (Previous Year Rs. 59.06 lakh) and not provided for (net of advances).


Mar 31, 2010

1. The previous years figures have been reworked, regrouped, rearranged and reclassified, wherever necessary. Amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.

2. Gross Block of Fixed Assets include Rs.530,088 thousand (Previous Year Rs.530,088 thousand) on account of revaluation of Fixed Assets carried out in the past. Consequent to the said revaluation there is an additional charge of depreciation of Rs. 6814 thousand (Previous Year Rs. 8,589 thousand) and an equivalent amount has been withdrawn from Revaluation Reserve and credited to the Profit and Loss Account.

3. As per Accounting Standard 15 "Employee Benefits" the disclosures as defined in Accounting Standard are given below: Defined Contribution Plans:

Defined Benefit Plan :

The employees gratuity fund scheme managed by Life Insurance Corporation of India is a defined benefit plan. The present value of obligation is determined based on the actuarial valuation using the Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is recognised in the same manner as gratuity.

The estimates of rate of escalation in salary is considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market. The above information is certified by the actuary. The expected rate of return on plan assets is determined considering several applicable factors mainly, the composition of plan assets held, assessed risks, historical result of return on plan assets and the Companys policy for plan asset management.

4. Segment Information :

The Company is mainly engaged in Infrastructure Activity in India. All activities of the Company revolve around this main business. As such, there are no separate reportable segments as per the Accounting Standard on Segment Reporting (AS - 17).

5. Managerial Remuneration :

(i) The Company has been advised that computation of net profits for the purpose of managerial remuneration under Section 349 of the Companies Act, 1956 need not be enumerated, since no commission by way of percentage of profit is payable for the year to any of the Directors of the Company.

(iii) Income tax assessments of the Company have been completed upto Assessment Year 2007-2008. The total demand raised by the Income Tax department upto the said assessment year is Rs. 14,520 thousand. Based on the decisions of the Appellate authorities and the interpretations of other relevant provisions, the Company has been legally advised that the demand is likely to be either deleted or substantially reduced and accordingly no provision has been made.

 
Subscribe now to get personal finance updates in your inbox!