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Notes to Accounts of RTCL Ltd.

Mar 31, 2015

1. Public Issue Account of Rs. 3,500/- (2013-2014 Rs. 3,500/-) is subject to reconciliation and confirmation.

2. Company had given an advance of Rs. 289,930/- (2013-2014 Rs. 289,930/-) during the financial year 1999-2000 to 'Kanpur Nagar Mahapalika' for conversion of leasehold land into freehold land. However, the said effect has not yet been given.

3. There were no Micro and Small enterprises to whom amounts are outstanding for more than 45 days, as at March 31, 2015 (Previous Year Rs. Nil). As at March 31,2015, no supplier has intimated the company about its status as Micro and Small enterprises or its registration with the appropriate authority under The Micro, Small and Medium Enterprises Development Act, 2006.

4. Confirmation from Debtors, Creditors and advances to and from various parties were not received and their balances are shown as appearing in the accounts.

5. During the year, there were no expenditure and/ or earnings in foreign exchange.

6. Particulars in respect of Guarantees given and Securities provided:

i.) The Company has provided Corporate Guarantee and given a collateral security by way of equitable mortgage of its Properties, situated at Cuelim Village, Village Panchayat Cansaulim Arrosim, Taluka and Sub District Marmugao, Goa, in connection to the credit facility sanctioned to Sir Bio Tech India Limited', in the form of Import LC (usance period upto 180 days) from Bank of Baroda, Panjim Branch, Goa, vide sanction letter bearing reference number PAN/ADV/2014 dated May 17, 2014.

ii.) The Company has provided a Corporate Guarantee to Messrs. Shreesri Buildtech Private Limited, by way of extension over Equitable Mortgage of its property situated at Village Chaudharipur Pargana & Tehsil Bilhaur to State Bank of India, Birhana Road, Kanpur for facilitating FBWC Limit of Rs. 950.00 Lacs (Rupees Nine Hundred Fifty Lacs Only), vide sanction letter dated August 8, 2014.

iii.) The Company has provided a Corporate Guarantee to Messrs. Muskan Towers Private Limited, by way of extension over Equitable Mortgage of its property situated at Village Chaudharipur Pargana & Tehsil Bilhaur to State Bank of India, The Mall, Kanpur for facilitating Term Loan Rs. 500.00 Lacs (Rupees Five Hundred Only), vide sanction letter dated February 26, 2014.

7. During the year, the Company has applied the estimated useful lives as specified in Schedule II of the Companies Act, 2013. Accordingly, the unamortized carrying value is being depreciated / amortized over the revised/remaining useful lives. The written down of Fixed Assets whose lives have expired as at April 1,2014 have been adjusted in the opening balance of the retained earnings amounting to Rs.1,131,193.21. However, the Company has not created any provision for residual value of the Fixed Assets, which is not significant considering the total value of block of assets.

8. Related Party Disclosures

a.) Following are Related Parties:

1. Key Management Personnel/Directors Mr. Ajay Kumar Jain, Whole- Time-Director

Mr. Sunil Tandon, Whole-Time- Director

2. Associate(s.) Raghunath Builders Private Limited

PJ. Softwares Private Limited

Trendy Buildcom Private Limited

Mangalam Infra Projects Private Limited

3. Individual and their relatives Mr. Om Prakash Agrawal having significant influence over the company Mr. Jai Prakash Agrawal

Mr. Sri Prakash Agrawal(HUF)

Om Prakash Agrawal (HUF)

Jai Prakash Agrawal (HUF)

Smt. Geeta Agrawal

Smt. Ranjana Agrawal

Mrs. Alka Dalmia

Mr. Yuvraj Dalmia

Mr. Pulkit Dalmia

Mr. Prakhar Dalmia

4. Enterprises over which persons Sir Bio Tech India Limited mentioned in paragraph number (2) above exercise significant influence Jai Nest-Build Home Private Limited

Lotus Infra Projects Private Limited

Sir Bio Tech India Limited

Elite Creations Private Limited

Shreesri Buildtech Private Limited

9. Note nos.1 to 32 forms an integral part of the Balance Sheet and Profit and Loss Account and have been duly authenticated.


Mar 31, 2014

1. NATURE OF OPERATION

RTCL Limited (The "Company") is mainly engaged in Real Estate including renting activities.

2. Public Issue Account of Rs. 3,500/- (2012-2013 Rs. 3,500/-) is subject to reconciliation and confi rmation.

3. Company had given an advance of Rs. 289,930/- (2011-2012 Rs. 289,930/-) during the fi nancial year 1999-2000 to ''Kanpur Nagar Mahapalika'' for conversion of leasehold land into freehold land. However, the said effect has not yet been given.

4. There were no Micro and Small enterprises to whom amounts are outstanding for more than 45 days, as at March 31, 2014 (Previous Year Rs. Nil). As at March 31, 2013, no supplier has intimated the company about its status as Micro and Small enterprises or its registration with the appropriate authority under The Micro, Small and Medium Enterprises Development Act, 2006.

5. Confi rmation from Debtors, Creditors and advances to and from various parties were not received and their balances are shown as appearing in the accounts.

6. During the year, there were no expenditure and/ or earnings in foreign exchange.

7. The Company has provided Corporate Guarantee and given an additional collateral security by way of equitable mortgage of its Property bearing Survey Number 46/3 area admeasuring 10,379 Square Meter (Approximately) and Survey Number 46/4C area admeasuring 2,482 Square Meter (Approximately) both situated at Cuelim Village, Village Panchayat Cansaulim Arrosim, Taluka and Sub District Marmugao, Goa, in connection to the credit facility sanctioned to Sir Bio Tech India Limited'', in the form of Import LC (usance period upto 180 days) from Bank of Baroda, Panjim Branch, Goa, vide sanction letter bearing reference number PAN/ADV/2014 dated May 17, 2014.

8. Note nos.1 to 31 forms an integral part of the Balance Sheet and Profi t and Loss Account and have been duly authenticated.


Mar 31, 2013

1. NATURE OF OPERATION

RTCL Limited (The "Company”) is mainly engaged in Real Estate including renting activities.

2. Public Issue Account of Rs. 3,500/- (2011-2012 Rs. 3,500/-) is subject to reconciliation and confi rmation.

3. Company had given an advance of Rs. 289,930/- (2011-2012 Rs. 289,930/-) during the fi nancial year 1999-2000 to ''Kanpur Nagar Mahapalika'' for conversion of leasehold land into freehold land. However, the said effect has not yet been given.

4. There were no Micro and Small enterprises to whom amounts are outstanding for more than 45 days, as at March 31, 2013 (Previous Year Rs. Nil). As at March 31, 2012, no supplier has intimated the company about its status as Micro and Small enterprises or its registration with the appropriate authority under The Micro, Small and Medium Enterprises Development Act, 2006.

5. Confi rmation from Debtors, Creditors and advances to and from various parties were not received and their balances are shown as appearing in the accounts.

6. During the year, there were no expenditure and/ or earnings in foreign exchange.

7. Note nos.1 to 30 form an integral part of the Balance Sheet and Profi t and Loss Account and have been duly authenticated.


Mar 31, 2012

1. NATURE OF OPERATION

RTCL Limited (The "Company") is mainly engaged in Real Estate including renting activities.

2. Public Issue Account of Rs. 3,500/- (2010-2011 Rs. 3,500/-) is subject to reconciliation and confirmation.

3. Company had given an advance of Rs. 289,930/- (2010-2011 Rs. 289,930/-) during the financial year 1999-2000 to 'Kanpur Nagar Mahapalika' for conversion of leasehold land into freehold land. However, the said effect has not yet been given.

4. There were no Micro and Small enterprises to whom amounts are outstanding for more than 45 days, as at March 31, 2012 (Previous Year Rs. Nil). As at March 31, 2012, no supplier has intimated the company about its status as Micro and Small enterprises or its registration with the appropriate authority under The Micro, Small and Medium Enterprises Development Act, 2006.

5. Confirmation from Debtors, Creditors and advances to and from various parties were not received and their balances are shown as appearing in the accounts.

6. During the year, there were no expenditure and/ or earnings in foreign exchange.

7. Note No. 1 to 30 form an integral part of the Balance Sheet and the Profit and Loss Account and have been duly authenticated.


Mar 31, 2011

1 Previous year's figures have been regrouped, recast, rearranged wherever necessary to conform to this year's classification. Figures in bracket represent figures pertaining to financial year 2009-2010 unless stated otherwise. Amounts are mentioned in Rupees.

2 Public Issue Account of Rs. 3,500/- (2009-2010 Rs. 3,500/-) is subject to reconciliation and confirmation.

3 Company had given an advance of Rs. 289,930/- (2009-2010 Rs. 289,930/-) during the financial year 1999-2000 to 'Kanpur Nagar Mahapalika' for conversion of leasehold land into freehold land. However, the said effect has not yet been given.

4 Creditors of Rs. 330.00/- (2009-2010-Rs. 750,820.85) have been written back during the year.

5 There were no Micro and Small enterprises to whom amounts are outstanding for more than 45 days, as at March 31st, 2011 (Previous Year Rs. Nil). As at March 31, 2011, no supplier has intimated the company about its status as Micro and Small enterprises or its registration with the appropriate authority under The Micro, Small and Medium Enterprises Development Act, 2006.

6 Confirmation from Debtors, Creditors and advances to and from various parties were not received and their balances are shown as appearing in the accounts.

7 During the year, there were no expenditure and/ or earnings in foreign exchange.

d) During the year, no amount receivable/payable from/to related parties has been written off/written back.

8 Information pursuant to the provisions of paragraphs 3,4C, 4D of part II of Schedule VI of the Companies Act, 1956 are not applicable.

9 (a) Pursuant To Accounting Standard -17 on "Segment Reporting" issued by the Institute of Chartered Accountants of India, Retailing, Agency and Real Estate are considered three business segments whereas other remaining activities are considered as un-allocable segment.

(C) Segment Revenue, Segment Results, Segment Assets and Segment Liabilities include the respective amounts identifiable to each of the segment. The expenses, which are not directly relatable to the business segment, are shown as unallocated cost. Assets and Liabilities, which cannot be allocated between the segments, are shown as unallocated assets and liabilities respectively.

10 Pending actuarial valuation for gratuity as per AS-15 issued by The ICAI, the company has provided liability for Gratuity amounting to Rs. 117,865/- (2009-2010 Rs. 201,617/-) during the year. However, the company has not actually paid any sum by way of gratuity during the year.

11 In the opinion of the management, the current assets, loans and advances have a value on realization in the ordinary course of the business at least equal to the amount at which they are stated in the balance sheet.

12 Balance Sheet Abstract and Company's General Business Profile (in terms of amendment to Part IV of Schedule VI to the Companies Act, 1956) is annexed herewith.

13 Contingent liabilities not provided for in respect of:

The Hon'ble Income Tax Appellate Tribunal, New Delhi has decided the appeal in favour of the company vide its order No. ITA No. 1917/Del of 2007 dated August 29, 2008 thereby canceling the demand of Rs. 21.63 Lakh for the assessment year 2002-2003. Therefore, the tax deposited by the company against this demand to the extent of Rs. 9,00,000/- has become due for refund along with necessary interest thereon. However, the Income Tax Department has preferred an appeal against the said order before Hon'ble Delhi High Court for which the proceedings are yet to begin.

14 Schedules 'A' to 'L' form an integral part of the Balance Sheet and Profit and Loss Account has been duly authenticated.


Mar 31, 2010

I. NATURE OF OPERATION

RTCL Limited (The "Company") is mainly engaged in Real Estate including renting activities.

1. Previous years figures have been regrouped, recast, rearranged wherever necessary to conform to this years clas- sification. Figures in bracket represent figures pertaining to financial year 2006-2009 unless stated otherwise Amounts are mentioned in Rupees.

2. Public Issue Account of Rs. 3,500;- (2006-2009 Rs. 3,500;-) is subject to reconciliation and confirmation.

3. Company had given an advance of Rs. 269,930;- (2006-2009 Rs. 289.930;-) during the financial year 1999-2000 to Kanpur Nagar MahapaIika for conversion of leasehold land into freehold land. However, the said effect has not yet been given.

4. Creditors of Rs. 750,620.65 (2006-2009-Rs. 247,207.13) have been written back during the year.

5. There were no Micro and Small enterprises to whom amounts are outstanding for more than 45 days, as at March 31, 2010 (Previous Year Rs. Nil). As at March 31, 2010, no supplier has intimated the company about its status as Micro and Small enterprises or its registration with the appropriate authority under The Micro, Small and Medium Enterprises Development Act, 2006.

7. Confirmation from Debtors, Creditors and advances to and from various parties were not received and their balances are shown as appearing in the accounts.

8. During the year, there were no expenditure and/or earnings in foreign exchange.

12. Related Part/Disclosures:

a} Following are related parties:

[a] Key Management Personnel

Mr. Om Prakash Agrawal Director

Mr. Brijesh Katiyar: Director

(b) Individuals and their relatives having significant influence over the company

Mr. Om PrakashAgrawal Mrs. Alka Dalmia (Wife of Director) Mr. Yuvraj Dalmia (Son of Director) Mr. Pulkit Dalmia (Son of Director)

[c] Enterprises that control or are controlled by the company, its directors and persons having significant influence over the company

P. J. Softwares Limited

Raghunath Builders Private Limited

Sir Bio Tech India Limited

Raghunath Holdings and Finlease Limited

Eternity Township Private Limited

RPA Buildestate Private Limited

Sunflower Durabuild Private Limited

New Wave Dwellers Private Limited

Everbright Infradevebpers Private Limited

Mandakini Motels Private Limited

RTC Real Estate Private Limited

14.
(c) Segment Revenue. Segment Results, Segment Assets and Segment Liabilities include the respective amounts identifiable to each of the segment. The expenses. which are not directly relatable to the business segment, are shown as unallocated cost. Assets and Liabilities, which cannot be allocated between the segments, are shown as unallocated assets and liabilities respectively.

15. The company has invested an amount of Rs. 100.000/- [Rupees One Lakh only) with RTC Real Estate Private Limited on 25.09.2008 during the previous year 2008-09 through one of its director. The transaction, however, has been re- flected during the current year on completion of necessary documentation.

16. Pending actuarial vaIuation for gratuity as per AS-15 issued by The ICAI, the company has provided liability for Gratuity amounting to Rs. 201,617/- (2008-2009 Rs. 36,365/-) during the year. However, the company has not actually paid any sum by way of gratuity during the year.

18. In the opinion of the management, the current assets, loans and advances have a value on realization in the ordinary course of the business at least equal to the amount at which they are stated in the balance sheet.

19. Balance Sheet Abstract and Companys General Business Profile fin terms of amendment to Part IV of Schedule VI to the Companies Act. 1956) is annexed herewith.

20. Contingent liabilities not provided for in respect of:

The Honble Income Tax Appellate Tribunal. New Delhi has decided the appeal in favour of the company vide its order No. ITA No. 1917/Del of 2007 dated August 29 2008 thereby canceling the demand of Rs. 21.63 Lakh for the assessment year 2002-2003. Therefore, the tax deposited by the company against this demand to the extent of Rs. 9,00,000/- has become due for refund alongwith necessary interest thereon. However, the Income Tax Department has preferred an appeal against the said order before Honble Delhi High Court for which the proceedings are yet to begin.

21. Schedules A to L form an integral part of the Balance Sheet and Profit and Loss Account has been duly authenticated.

 
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