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Notes to Accounts of Shri Krishna Devcon Ltd.

Mar 31, 2015

Note 1

The Company has not made any provisions towards gratuity and other retirement benefits as in view of the management, no provision are required to be made.

Note 2

In the opinion of Board, Current Assets, Loans & Advances are approximately of value which are stated in the Balance Sheet if realised in the ordinary course of business.

Note 3

The figures of trade receivable, Trade Payables and Loans & Advances are subject to confirmation and reconciliation, wherever required.

Note 4 Previous year's figures

Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.


Mar 31, 2014

1. Corporate information

Shri Krishna Devcon Limited (''the Company or ''SKDL'') is a real estate developer engaged in the business of construction, development of townships, housing projects, commercial premises and other related activities.

Note 2. Terms/ rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share. In event of liquidation of the Company, the holders of equity shares would be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

Note 3. Valuation of investment in quoted equity shares

The management of the Company is of the opinion that the decline in the market value of its investments is temporary in nature and hence, has valued the investment on "cost" basis. No provision has been made for the difference between cost and market value of the Investments.

Note 4. Contingent Liabilities (to the extent not provided for)

As at As at 31st March, 2014 31st March, 2013 Particulars Rs. Rs.

Guarantees issued by Bank 5,460,000 5,350,000

Note 5. Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006

Based on the information available with the Company, there are no suppliers who are registered as micro, small or medium enterprises under'' The Micro, Small and Medium Enterprises Development Act, 2006" as at March 31,2014.

Note 6.

The Company has not made any provisions towards gratuity and other retirement benefits as in view of the management, no provision are required to be made.

Note 7.

In the opinion of Board, Current Assets, Loans & Advances are approximately of value which are stated in the Balance Sheet if realised in the ordinary course of business.

Note 8.

The figures of trade receivable, Trade Payables and Loans & Advances are subject to confirmation and reconciliation, wherever required.

Note 9. Previous year''s figures

Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.


Mar 31, 2013

1 Corporate information

Shri Krishna Devcon Limited (''the Company or ''SKDL'') is a real estate developer engaged in the business of construction, development of townships, housing projects, commercial premises and other related activities.

Note 2 Contingent Liabilities (to the extent not provided for)

As at 31 March, 2013 As at 31 March, 2012 Particulars

Guarantees issued by Bank 5,350,000 4,500,000

Note 3 Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006

Based on the information available with the Company, there are no suppliers who are registered as micro, small or medium enterprises under "The Micro, Small and Medium Enterprises Development Act, 2006" as at March 31, 2013.

Note 4

The Company has not made any provisions towards gratuity and other retirement benefits as in view of the management, no provision are required to be made.

Note 5

In the opinion of Board, Current Assets, Loans & Advances are approximately of value which are stated in the Balance Sheet if realised in the ordinary course of business.

Note 6

The figures of trade receivable, Trade Payables and Loans & Advances are subject to confirmation and reconciliation, wherever required.

Note 7 Previous year''s figures

Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.


Mar 31, 2012

1 Corporate information

Shri Krishna Devcon Limited ('the Company or 'SKDL') is a real estate developer engaged in the business of construction, development of townships, housing projects, commercial premises and other related activities.

Note 2.1 Terms/ rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share. In event of liquidation of the Company, the holders of equity shares would be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

Note 3.1 Valuation of investment in quoted equity shares

The management of the Company is of the opinion that the decline in the market value of its investments is temporary in nature and hence, has valued the investment on "cost" basis. No provision has been made for the difference between Cost and market value of the Investments.

Note 4 Contingent liabilities (to the extent not provided for)

As at 31 March, 2012 As at 31 March, 2011

Particulars

Guarantees issued by Bank 4,500,000.00 4,250,000.00

Note 5 Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006

Based on the information available with the Company, there are no suppliers who are registered as micro, small or medium enterprises under "The Micro, Small and Medium Enterprises Development Act, 2006" as at March 31, 2012.

Note 6

The Company has not made any provisions towards gratuity and other retirement benefits as no provision is required to be made in view of the fact that none of the employees have put in required number of years of service with the company.

Note 7

In the opinion of Board, Current Assets, Loans & Advances are approximately of value which are stated in the Balance Sheet if realised in the ordinary course of business.

Note 8

The figures of Sundry Debtors, Sundry Creditors and Loans & Advances are subject to confirmation and reconciliation, wherever required.

Note 9 Previous year's figures

The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.


Mar 31, 2010

1) Contingent Liabilities not provided for:

PARTICULARS 31.03.2010 31.03.2009 Rs. Rs.

Guarantee issued by Bank 4,200,000.00 5,00,000.00

2) Deferred Tax:

The Company estimates deferred tax assets/ liabilities using the applicable rate of taxation based on the impact of timing difference between financial statements and estimated taxable income for the current year.

Deferred tax liability for the year aggregating to Rs 41,967/- has been recognised in Profit & Loss Account.

3) Determination of revenues under percentage of completion method necessarily involves making various estimates by the management which being of technical nature have been relied upon by the auditors.

4) Capital commitment Rs. NIL. (Previous Year Rs. NIL)

5) Earning in foreign currency Rs. NIL. (Previous Year Rs.NIL)

6) Expenditure in foreign currency Rs. NIL. (Previous Year Rs. NIL)

7) The management of the Company is of the opinion that the decline in the market value of its investments is temporary in nature and hence has valued the investment on "cost" basis. No provision has been made for the difference between Cost and market value of the Investments.

8) As the company is not manufacturing any items, the additional information pursuant to part II-B of Schedule VI of the Companies Act, 1956 has not been furnished.

9) The Company has not made any provisions towards gratiuty and other retirement benefits as no provision is required to be made in view of the fact that none of the employees have put in required number of years of service with the company.

10) In the opinion of Board, Current Assets, Loans & Advances are approximately of value which are stated in the Balance Sheet if realised in the ordinary course of business.

11) The figures of Sundry Debtors, Sundry Creditors and Loans & Advances are subject to confirmation and reconciliation, wherever required.

12) RELATED PARTY DISCLOSURES:

Information on related party transactions as required by Accounting Standard -18 for the year ended 31st March, 2010 are as follows:

List of Related Parties :

A) Key Management Personnel Designation

1) Mr. Sunil Jain Managing Director

2) Mr. Mukesh Jain Wholetime Director

3) Mr. Naveen Jain Wholetime Director

B) Enterprise owned or significantly influenced by key management personnel or their relatives

1) Navkar Finvest Ltd.

2) Shree Vrajraj Developers Pvt. Ltd.

3) Shreedhi Developers Pvt. Ltd.

4) Shreedhar Developers Pvt. Ltd.

5) NPS Investment Pvt. Ltd.

6) Manokesh Mines & Minerals Pvt. Ltd.

7) SKDL Developers Pvt. Ltd.

8) CSM Developers Pvt. Ltd.

9) M/s Avani Proteins

10) M/s Mukesh Proteins

11) M/s Mukesh Jain

12) M/s Bollywood Collection

13) M/s Royal Krishna Collection

14) M/s Bollywood Automobiles

C) Relatives of Key Management Personnel

1) Mrs. Anjana Jain

2) Mrs. Sangeeta Jain

3) Mrs. Surabhi Jain

4) Mr. Keshrimal Jain

5) Mrs. Manorama Jain

13) The Company did not have any transactions with Small Scale Industrial (SSI) Undertakings during the year ended March 31, 2010 and hence there are no amounts due to such undertakings. The identification of SSI undertakings is based on the managements knowledge of their status.

As per information and explanations to management there are no micro, small and medium enterprises as defined in Micro, Small and medium Enterprise Deveploment Act, 2006 to who company owes and dues.

14) The company operates only in one segment hence the requirement of segment reporting pursuant to AS 17 issued by the Institute of Chartered accountants of India are not applicable.

15) Previous Years figures have been regrouped and reclassified wherever necessary to conform with current years classification.

 
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