Mar 31, 2017
b. Terms/rights attached to the equity shares
The Company has one class of equity shares having a par value of '' 10/- per share. Each holder of equity shares is entitled to one vote per share. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the Company, the holders of the equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts, in proportion to their shareholding.
Retirement benefit plans
As per Accounting Standard 15 "Employee benefits", the disclosures as defined in the Accounting Standard are given below:
I) Defined Contribution Plans
a) Provident Fund
b) Superannuation Fund and Pension Scheme,1995
The Company has recognized the following amounts in the Statement of Profit and Loss which are included under Contribution to Provident, Superannuation and other fund;
1. Contingent Liabilities not provided for
a) Claims against the Company not acknowledged as debt:
b) The Company has received a demand notice of Rs. 17, 15, 65,324/- from the State Revenue Department on account of permission required for transfer of flats built out of FSI relating to Leasehold land in project "Planet Godrej". The Company filed a writ petition against the demand in the Honbâ.le High Court of Bombay ("the Court'''') and the Court has stayed the demand order until a formal policy applicable to all leasehold lands is framed by the State. Further, the Court has ordered that as and when the policy is framed by the State, thereafter, the State shall approach the Honb''le High Court of Bombay for amending the present order.
2. The Company has not received any intimation from "suppliers" regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid/payable as required under the said Act have not been given.
3. The lease of the land at Mumbai has expired and it is yet to be renewed by the Collector of Mumbai ("the Collector"). Pending renewal of the lease, the previously agreed lease rent continues to be paid by the Company on the basis of the expired lease agreement. The demands previously raised by the Collector have been set aside by the Honb''le High Court of Bombay ("the Court''''), and the Court has directed the Collector to re-assess the lease rent. As of the Balance Sheet date, no revised demand is received.
4. During the year, the Company has recognized Rs. 9,17,18,515/- as revenue from the on-going project "Simplex Khushaangan". The aggregate amount of cost incurred and the profit/(loss) recognized to date is Rs. 87,99,79,534/- and Rs. (15,35,59,496/-) respectively.
5. Earnings per share - EPS is calculated by dividing the profit / (loss) attributable to the equity share holders by weighted average number of equity shares outstanding during the year.
For the purpose of calculating diluted earnings per share, the net profit / (loss) for the period attributable to equity shareholders and the weighted average number of shares outstanding during the period is adjusted for the effects of all dilutive potential equity shares, except when the results would be anti-dilutive.
6. The Company''s main business activity constitutes developing real estate, which is the only reporting segment. The Company does not have any reportable geographical segment.
31. Related party disclosure (i) Related party relationship during the year |
|
|
(a) |
Associates |
Simplex Papers Ltd. Simplex Mills Company Ltd. |
(b) |
Key Management Personnel |
Mr. Nandan Damani - Managing Director Mr. Surendra Kabra - Chief Financial Officer Mr. Shekhar R Singh - Company Secretary |
(c) |
Relative of Key Management Personnel |
Mr. Sanjay N Damani Mrs. Shashi Patodia Mrs. Shivani Jatia |
(d) |
Where persons mentioned in (b) or (c) exercise significant influence |
The Nav Bharat Refrigeration and Industries Ltd Lucky Vyapaar and Holdings Pvt. Ltd. |
7. During the year, the Company has written off Rs. 5, 97, 59,760/- out of advances given towards land acquisition after adjusting the amount realized and value of property acquired. The Company had given advances to a party towards land acquisition at Bangalore, but the title to the land was not clear and marketable and there are so many claimants on the same land parcels. Hence, the Company had entered into agreement with an intending buyer who was interested in acquiring the land parcels in that area and agreed to buy our rights on those land parcels against part payment and in exchange of 4 villas at Goa. The Company has acquired 4 villas at Goa from the buyer and after adjusting the amount realized and value of the property acquired at Goa, the balance amount of Rs. 5,97,59,760/- has been written off during the year and the same has been shown as an extraordinary item.
Mar 31, 2015
CORPORATE INFORMATION
Simplex Realty Limited ("the Company") is into real estate
development. The Company develops residential as well as commercial
properties in and around Mumbai. The Company is a public limited
Company and is listed on BSE Limited.
b. Terms/rights attached to the equity shares
The Company has 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. The dividend proposed by the Board of Directors is subject to
the approval of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the Company, the holders of the equity
shares will be entitled to receive remaining assets of the Company,
after distribution of all preferential amounts, in proportion to their
shareholding.
2. i) Contingent Liabilities not provided for
a) Claims against the Company not acknowledged as debt: (In Rs.)
2014-15 2013-14
Appeals filed in respect of disputed
demands:
Relating to Income Tax where the
Company is in appeal 7,73,86,149 7,73,86,149
Relating to Income Tax where
Department is in appeal 54,46,63,110 54,46,63,110
Labour Matters 1,35,327 1,35,327
Legal Cases 34,05,600 34,05,600
Letter of Credit 83,08,929 -
b) The Company has received a demand of Rs. 17,15,65,324/- from the State
Revenue Department on account of permission required for transfer of
flats built out of FSI relating to Leasehold land in project "Planet
Godrej". The Company has been legally advised that this demand is not
payable by the Company and a writ petition against this demand has been
filed in the Honb'le High Court of Bombay ("the Court") and by way
of ad-interim relief, the Court has directed to the Collector and
others that they shall not take any further steps against the Company
till the communication of the decision of the Government and no
decision has been taken yet.
3. As per the information available, the Company has no dues to micro,
small and medium enterprises as defined under Micro, Small and Medium
Enterprise Act, 2006 during the year ended 31st March, 2015 and 31st
March, 2014 and as at 31st March, 2015 and 31st March, 2014.
4. The lease of the land at Mumbai has expired and it is yet to be
renewed by the Collector of Mumbai ("the Collector"). Pending
renewal of the lease, the previously agreed lease rent continues to be
paid by the Company on the basis of the expired lease agreement. The
demands previously raised by the Collector have been set aside by the
Honb'le High Court of Bombay ("the Court"), and the Court has
directed the Collector to re-assess the lease rent. As of the Balance
Sheet date, no revised demand is received.
5. During the year, the Company has provided depreciation as per the
provision of Schedule II to the Companies Act, 2013 (''the Act")
based on the remaining useful life of the assets and consequently, in
case of the assets which have completed their useful lives as
prescribed under Schedule II to the Act, the carrying value (net of
residual value) as at 01st April, 2014 have been adjusted, net of tax,
in the opening balance of Profit and Loss Account amounting to Rs.
4,62,622/- and in case of other assets, the carrying value (net of
residual value) is being depreciated over the revised remaining useful
lives. As a result of the above, depreciation for the current year is
higher by Rs. 9,50,576/-.
6. During the year, the Company has recognized Rs. 4,76,27,220/- as
revenue from the on-going project "Simplex Khushaangan". The
aggregate amount of cost incurred and the profit/(loss) recognized to
date is Rs. 62,27,97,156/- and Rs. (6,66,71,488/-) respectively.
7. Earnings per share - EPS is calculated by dividing the profit
attributable to the equity share holders by weighted average number of
equity shares outstanding during the year.
For the purpose of calculating diluted earnings per share, the net
profit for the period attributable to equity shareholders and the
weighted average number of shares outstanding during the period is
adjusted for the effects of all dilutive potential equity shares,
except when the results would be anti-dilutive.
8. The Company's main business activity constitutes developing real
estate, which is the only reporting segment. The company does not have
any reportable geographical segment.
9. Previous year figures
The previous year's figures have been reclassified, wherever necessary,
to conform current year's presentation.
Mar 31, 2014
CORPORATE INFORMATION
Simplex Realty Limited ("the Company") is into real estate development.
The Company develops residential as well as commercial properties in
and around Mumbai. The Company is a public limited Company and is
listed on BSE Limited.
2. i) Contingent Liabilities
a) Claims against the Company not acknowledged as debt:
(In Rs.)
2013-14 2012-13
Appeals filed in respect of disputed
demands:
Relating to Income Tax where the
Company is in appeal 7,73,86,149 19,12,77,352
Relating to Income Tax where
Department is in appeal 54,46,63,110 -
Labour Matters 1,35,327 1,35,327
Legal Cases 34,05,600 34,05,600
b) During the year, the Company has received a demand of Rs.
17,15,65,324/- from the State Revenue
Department on account of permission required for transfer of flats
built out of FSI relating to Leasehold land in project "Planet Godrej".
The Company has been legally advised that this demand is not payable by
the Company and a writ petition against this demand has been filed in
the appropriate court and accordingly no provision has been made.
3. The Company has no dues to micro, small and medium enterprises as
defined under Micro, Small and Medium Enterprise Act, 2006 during the
year ended 31st March, 2014 and 31st March, 2013 and as at 31st March,
2014 and 31st March, 2013 .
4. The lease of the land at Mumbai has expired and it is yet to be
renewed by the Collector of Mumbai ("the Collector"). Pending renewal
of the lease, the previously agreed lease rent continues to be paid by
the Company on the basis of the expired lease agreement. The demands
previously raised by the Collector have been set aside by the Honorable
High Court of Bombay and the Court has directed the Collector to
re-assess the lease rent. As of the Balance Sheet date, no revised
demand is received.
5. The net share of revenue from the Project "Planet Godrej" has been
recognized as income from operation on the basis of final project cost
and unsold flats which are retained have been shown in inventory at
cost as per agreement with the developer.
30. During the year, the Company has recognized Rs. 9,33,28,020/- as
revenue from the on-going project "Simplex KhushAangan".The aggregate
amount of cost incurred and the profit/(loss) recognized to date is Rs.
51,86,21,219/- and (Rs. 5,60,35,812/-) respectively.
6. Earnings per share  EPS is calculated by dividing the profit
attributable to the equity share holders by weighted average number of
equity shares outstanding during the year.
For the purpose of calculating diluted earnings per share, the net
profit for the period attributable to equity shareholders and the
weighted average number of shares outstanding during the period is
adjusted for the effects of all dilutive potential equity shares,
except when the results would be anti-dilutive.
7. The Company''s main business activity constitutes developing real
estate, which is the only reporting segment. The company does not have
any reportable geographical segment.
8. Related party disclosure
(i) Related party relationship during the year
(a) Associates Simplex Papers Ltd.
Simplex Mills Company Ltd.
(b) Key management personnel Mr. Nandan Damani - Managing Director
(c) Relative of key management personnel
Mr. S.K.Somany Mr. Sanjay N.Damani Mrs. Shashi Amit Patodia Mrs.
Shivani Vishal Jatia
(d) Where persons mentioned in (b) or (c) exercise significant
influence
The Nav Bharat Refrigeration and Industries Ltd. Shreelekha Global
Finance Ltd. Lucky Vyapaar and Holdings Pvt. Ltd. Shrinathji Flour
Mills Pvt. Ltd.
9. Previous year figures
The previous year figures have been reclassified, wherever necessary to
conform current year''s presentation.
Mar 31, 2013
CORPORATE INFORMATION
Simplex Realty Limited (the Company) is into real estate development.
The Company develops residential as well as commercial properties in
and around Mumbai. The Company is a public limited Company and is
listed on BSE Limited.
1. Contingent liabilities not provided for
(In Rs.)
2012-13 2011-12
Appeals filed in respect of disputed
demands:
Income Tax 19,12,77,352 12,83,15,672
Labour Matters 1,35,327 1,35,327
Legal Cases 34,05,600 34,05,600
2. The Company has no dues to micro, small and medium enterprises as
defined under Micro, Small and Medium Enterprise Act, 2006 during the
year ended 31st March, 2013 and 31st March, 2012 and as at 31st March,
2013 and 31st March, 2012 .
3. The lease of the land at Mumbai has expired and it is yet to be
renewed by the Collector of Mumbai. Pending renewal of the lease, the
previously agreed lease rent continues to be paid by the Company on the
basis of the expired lease agreement. The demands previously raised by
the Collector of Mumbai (''the Collector'') have been set aside by the
Honorable High Court of Bombay, and the Court has directed the
Collector to re-assess the lease rent. As of the Balance Sheet date, no
revised demand is received.
4. The net share of revenue from the Project "Planet Godrej" (i.e.
net share in profit) if any, will be recognized as income from
operation on the basis of estimated project cost. The increase in
earlier estimates of cost, if any, will be recognised in the year of
revision in such estimates.
5. Earnings per share  EPS is calculated by dividing the profit
attributable to the equity share holders by weighted average number of
equity shares outstanding during the year.
For the purpose of calculating diluted earnings per share, the net
profit for the period attributable to equity shareholders and the
weighted average number of shares outstanding during the period is
adjusted for the effects of all dilutive potential equity shares,
except when the results would be anti-dilutive.
6. The Company''s main business activity constitutes developing real
estate, which is the only reporting segment. The company does not have
any reportable geographical segment.
7. Related party disclosure
(i) Related party relationship during the year
(a) Associates Simplex Papers Ltd.
Simplex Mills Company Ltd.
(b) Key management personnel Mr. Nandan Damani - Managing Director
(c) Relative of key management personnel Mr. S.K.Somany
Mr. Sanjay N.Damani Mrs. Shashi Amit Patodia Mrs. Shivani Vishal Jatia
(d) Where persons mentioned in (b) or (c) exercise significant
influence
The Nav Bharat Refrigeration and Industries Ltd. Lucky Vyapaar and
Holdings Pvt. Ltd. Shrinathji Flour Mills Pvt. Ltd.
8. Previous year figures
The financial statements for the year ended 31st March, 2013 are
prepared as per Revised Schedule VI. The previous year figures have
been reclassified to conform to this year''s classification, wherever
necessary to conform current year''s presentation.
Mar 31, 2012
CORPORATE INFORMATION
Simplex Realty Limited ("The Company") is in real estate development.
The Company develops residential as well as commercial properties in
and around Mumbai. The Company is a public limited Company and is
listed on BSE Limited.
a. Terms/rights attached to the equity shares
The Company has one class of equity shares having a par value of Rs 10/-
per share. Each holder of equity shares is entitled to one vote. The
dividend proposed by the Board of Directors is subject to the approval
of the shareholders in the ensuing Annual General Meeting. In the event
of liquidation of the company, the holders of the equity shares will be
entitled to receive the remaining assets of the company, after
distribution of all preferential amounts, in proportion to
their shareholding.
-Includes ex-employees dues (pending claims) and other statutory dues,
etc.
NOTES:
1. The Company holds leasehold land at Mumbai whose lease has expired
on 22nd April, 1983. The Company is pursuing the matter with the
Collector of Mumbai for renewal of the lease. This land has been
developed and residential units thereon were sold to the buyers,
pursuant to development permissions obtained from the concerned
authorities.
* Formerly known as Prime Textiles Ltd.
** 69 shares of Piramal Healthcare Ltd. received free of cost during
the year pursuant to scheme of arrangement of Piramal Life Science Ltd.
*** Ceased to be subsidiary w.e.f. 29th February, 2012
Retirement benefit plans
As per Accounting Standard 15 "Employee Benefits", the disclosures as
defined in the Accounting Standard are given below:
I) Defined Contribution Plan
a) Provident Fund
b) Superannuation fund and Pension Scheme -1995
The Company has recognized the following amounts in the Statement of
Profit and Loss which are included under Contribution to Provident and
Other funds:
II) Defined Benefit Plans
a) Contribution to Gratuity fund (Non-funded)
b) Leave encashment (Non-funded)
1. Contingent liabilities not provided for (In Rs.)
2011-12 2010-11
Appeals filed in respect of disputed
demands:
Income Tax 12,83,15,672 62,41,97,421
Labour Matters 1,25,327 1,35,327
Legal Cases 34,05,600 34,05,600
2. The company has no dues to micro and small enterprises during the
year ended 31st March, 2012 and 31st March, 2011 and as at 31s,March,
2012 and 31s,March,2011.
3. The lease of the land at Mumbai has expired and it is yet to be
renewed by the Collector of Mumbai. Pending renewal of the lease, the
previously agreed lease rent continues to be paid by the Company on the
basis of the expired lease agreement. The demands previously raised by
the Collector of Mumbai ('the Collector') have been set aside by the
Honorable High Court of Bombay, and the Court has directed the
Collector to re-assess the lease rent. As of the Balance Sheet date, no
revised demand is received.
4. The Net share of revenue from project 'Planet Godrej' (i.e. net
share in profit) has been recognized as income from operation upon
finalization of cost of the project. The increase in earlier estimates
of cost has been recognised during the year.
5. Earnings per share (EPS) is calculated by dividing the profit
attributable to the equity share holders by weighted average number of
equity shares outstanding during the year.
For the purpose of calculating diluted earnings per share, the net
profit or loss for the period attributable to equity shareholders and
the weighted average number of shares outstanding during the period is
adjusted for the effects of all dilutive potential equity shares,
except when the results would be anti-dilutive.
6. The Company's main business activity constitutes developing real
estate, which is the only reporting segment.
7. Related party disclosure
8. Previous year figures
The financial statements for the year ended 31st March, 2011 had been
prepared as per the then applicable, pre- mised Schedule VI to the
Companies Act, 1956. Consequent to the notification of Revised Schedule
VI under the Companies Act, 1956, the financial statements for the year
ended 31st March, 2012 are prepared as per Revised Schedule VI.
Accordingly, the previous year figures have also been reclassified to
conform 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.
Particulars regarding subsidiary Company, in accordance with General
Circular No:02/2011 dated 8th February, 2011 from the Ministry of
Corporate Affairs.
1 Subsidiary Company
Simplex Renewable Resources Pvt. Ltd.
Ceased to be subsidiary w.e.f. 29th February, 2012
Mar 31, 2011
1. Contingent liabilities not provided For:
(Rs. In Lacs)
2010-11 2009-10
Appeals filed in respect of
disputed demands:
Income Tax 8,241,01
Labour Matters 1.35 1.35
Legal Cases 34.06 34.06
Total 8.27S.42 35.41
3. The Company has not received any intimation from "suppliers"
regarding their status under the Micro, Small and Medium Enterprises
Development Act, 2006 and hence disclosures, if any, relating to
amounts unpaid as at the year end together with interest paid/ payable
as required under the said Act have not been given.
4. The lease of the land at Mumbai has expired and it is yet to be
renewed by the Collector of Mumbai. Pending renewal of the lease, the
previously agreed lease rent continues to be paid by the Company on the
basis of the expired lease agreement. The demands previously raised by
the Collector of Mumbai (the Collector) have been set aside by the
Honorable High Court of Bombay, and the Court has directed the
Collector to re-assess the lease rent. As of the Balance Sheet date, no
revised demand is received.
5. In the previous years, the Net share of revenue (i.e. net share in
profit) has been recognized as income from operation after considering
estimated construction cost. These estimations of the income may vary
upon finalisation of Project cost.
8. The Company has classified the various benefits provided to
employees as under: I) Defined Contribution Plan
a) Provident Fund
b) Superannuation Fund and Pension Scheme -1995
The Company has recognized the following amounts in the Profit and Loss
account which are included under Contribution to Provident Fund and
Other Funds;
II) Defined Benefits Plans
a) Contribution to Gratuity Fund (Non- Funded)
b) Leave Encashment (Non-Funded)
11. The Companys main business activity constitutes developing real
estate, which is the only reporting segment.
12. Related Party Disclosure (As identified by the management):
(i) Related Party Relationship during the year
(a) Associates Simplex Papers Ltd.
Simplex Mills Company Ltd.
(b) Subsidiary Company Simplex Renewable Resources Pvt. Ltd.
(c) Key Management Personnel Mr. Nandan Damani - Managing Director
(d) Relative of Key Management Personnel Mr. S. K. Somany
(e) Where persons mentioned in (c) or (d) Lucky Vyapaar & Holdings Pvt.
Ltd. exercise significant influence
Enas Foundation
Ratanbai Surajratan Damani Educational Trust
14. Previous years figures have been regrouped wherever necessary to
conform to the current years presentation.
Mar 31, 2010
1. Contingent liabilities not provided for:
Claims against the Company not acknowledged as debts Rs. 35.41 Lacs
(Previous Year Rs. 35.81 Lacs)
2. The Company has not received any intimation from "suppliers"
regarding their status under the Micro, Small and Medium Enterprises
Development Act, 2006 and hence disclosures, if any, relating to
amounts unpaid as at the year end together with interest paid/ payable
as required under the said Act have not been given.
3. The lease of the land at Mumbai has expired and it is yet to be
renewed by the Collector of Mumbai. Pending renewal of the lease, the
previously agreed lease rent continues to be paid by the Company on the
basis of the expired lease agreement. The demands previously raised by
the Collector of Mumbai (the Collector) have been set aside by the
Honorable High Court of Mumbai, and the Court has directed the
Collector to re-assess the lease rent. As of the Balance Sheet date, no
revised demand is received. During the year 2008-09 the Company has
provided Rs.36.53 lacs as lease rent for the period from April 1983 to
March 2004 based on valuation report of an eminent approved valuer. The
lease rent from the period April 2004 onwards will be borne by the flat
owners of the apartment built on leasehold land.
4. Unamortised balance of Voluntary Retirement Scheme and Gratuity
paid in earlier years was shown hitherto under Property Development
Account and the proportionate cost was being recognized in the Profit
and Loss Account as a part of Realty Development cost. During the year,
in compliance with Accounting Standard (AS-15) "Employee Benefits
(Revised)", unamortised portion of deferred revenue expenditure (VRS
and Gratuity) at the year end has been fully charged and shown under
extraordinary items.
5. Revenue arising from developable land represents the Companys
share in profit from the project "Planet Godrej" after reducing
estimated cost. This estimate may vary on finalisation of the
construction cost with the developer upon completion of the project.
6. The Companys main business activity constitutes developing real
estate, which is the only reporting segment.
7. Related Party Disclosure (As identified by the Management):
(i) Related Party Relationship during the year
(a) Associates Simplex Papers Ltd.
Simplex Mills Company Ltd.
(b) Key Management Personnel Mr. Nandan Damani - Managing Director
(c) Relative of Key Management Personnel Mr. S.K.Somany
(d) Where persons mentioned in (b) or (c) Lucky Vyapaar & Holdings
Pvt.Ltd. exercise significant influence Enas Foundation
8. Previous years figures have been regrouped wherever necessary to
conform to the current years presentation.
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