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Notes to Accounts of Southern Online Bio Technologies Ltd.

Mar 31, 2015

1. Corporate information:

Southern Online Bio Technologies Limited was originally incorporated as Southern Online Services Private Limited vide certificate of Incorporation no.01-30463 dated November 9, 1998 with Registrar of Companies, Hyderabad and subsequently converted into a Public Limited Company on January 4, 2000. The name of the Company has been Changed to Southern Online Bio Technologies Limited on 31s1 March 2004 to reflect the new line of business in which the Company has ventured i.e. manufacture of Biodiesel. Currently the Company's shares are listed at Bombay Stock Exchange Limited.

The Company is one of the first private sector ISPs to commence operations in the state of Andhra Pradesh. However, considering the opportunities In the field of manufacture and supply of alternative fuels to petroleum- based fuels, the promoters have decided to diversify into production and supply of biodiesel. The Company has established 40,000 liters per day capacity Biodiesel production unit from non-edible vegetables oils, fatty acids, animal fats, etc for partial substitution or using as a blend in fossil diesel. This project is located at Samsthan Narayanpur (v), Nalgonda Dlst, Telangana. The Second Bio diesel unit with a capacity of 250 TPD Is located at APIIC, SEZ, vlsakhapatnam, Andhra Pradesh.

2. Share Capital:

The Equity Share Capital of the company as on 31st March, 2015 is 5,89,93,288 Equity Shares of Rs. 10/- each fully paid up.

During the year:

During the year 2014-15 the Company has allotted 77,15,414 Equity Shares of Rs 10/- each and the same is included in the share capital as on 31st March 2015.

3. Investments

During the year 2004-05 the Company has invested the 3,43,097 Equity shares of Rs 10/- each fully paid up to the shareholders of Southern Biofe Fuels Private Limited as 99.97% subsidiary company and same is approved by Board of Directors.

No other investments were made by the Company.

4. Segment Reporting

The activities of the Company can be broadly classified into Internet Service Provider (ISP), Manufacturing of Bio Diesel, Used Cooking Oil trading and Corrtractand construction of Bio diesel plant for IROAF at Tondiarpet Chennai.

The ISP Division provides Internet Bandwidth to the Corporate Clients, Educational Institutions, Cyber Cafes & Individual etc.,

The Bio Diesel division manufactures the Bio diesel.

Income and direct expenses relation to segments are categorized based on items that are individually identifiable to that segment, while the reminder of cost is apportioned on appropriate basis. Certain expenses which are not specifically allocable to individual segments as the relevant services are used interchangeably. The company therefore believes that it is not practical to provide segment disclosures relating to such expenses. Accordingly, they are separately disclosed as unallowable and directly charged against total income.

In other segment shown in the table given below includes:-

a) The income and expenditure relating to 30 TPD capacity Bio diesel unit at Tondiarpet, Chennai.

b) The income and expenditure relating to Cross country trading of Used Cooking Oil.

The assets of the company are used interchangeably between segments, and the management believes that it is not practical to provide segment disclosure relating to total assets and liabilities.

5. Details of Quantitative Information:

The Company is engaged in the Internet Service Provider (ISP) services and Biodiesel Unit construction for Indian Railways (IROAF). The ISP services and IROAF Construction are not capable of being expressed in any generic unit and hence it is not possible to give the quantitative details In respect of Bio Diesel Division and UCO Merchant trading the quantitative information is as follows:

6. Confirmations were obtained from debtors / creditors as to the balances receivable / payable to them as at year ended 31st March 2015.

7. BANK GUARANTEES

The Company has outstanding guarantees and counter guarantees of Rs 1,78,98,799/- as on 31.03.2015 (previous year ended 31.03.2014 is Rs 1,89,98,799/-) to bank, in respect of the guarantees given by the Bank in favour of the President of India, Government of India, acting through the Telegraph Authority, and Ministry of Railways., Indian Railways Organization for Alternative Fuels (IROAF).

8. LETTER OF CREDITS

The company has outstanding Letter of Credit to the extent of Rs. 65,77,22,406/- as on 31.03.2015. (Previous year Rs 46,41,21,151/-as on 31.03.2014).

9. RIGHT OF RECOMPENSE (ROR)

a) ROR to CDR lender for the relief fi and sacrifice extended is subject to the provisions of CDR guidelines and MRA.

b) As per CDR package the ROR amount forthe year 2014-15 is Rs 12.16 Cr.

10. The Visakhapatnam unit of the Company was effected by the natural calamity i.e. cyclone Hudhud on 12th October 2014. Due to the cyclone, the unit has incurred the loss of Rs 1914.29 Lakhs. The damages are properly covered with the insurance and the petition for the claim of such losses has been already filed to the insurance company. The claim of the company is under process with the National Insurance Company Limited as on balance sheet date.

11. Previous year figures have been regrouped wherever necessary.

12. The figures have been rounded off to the nearest rupee.


Mar 31, 2014

1.Corporate information:

Southern Online Bio Technologies Limited was originally incorporated as Southern Online Services Private Limited vide certificate of incorporation no.01-30463 dated 9th November 1998 with Registrar of Companies, Hyderabad and subsequently converted into a Public Limited Company on 4th January 2000. The name of the Company has been Changed to Southern Online Bio Technologies Limited on 31st March 2004 to reflect the new line of business in which the Company has ventured i.e manufacture of Biodiesel. Currently the Company''s shares are listed at Bombay Stock Exchange Limited.

The Company is one of the first private sector ISPs to commence operations in the state of Andhra Pradesh. However, considering the opportunities in the field of manufacture and supply of alternative fuels to petroleum- based fuels, the promoters have decided to diversify into production and supply of biodiesel. The Company has established 40,000 liters per day capacity Biodiesel production unit from non-edible vegetable oils, fatty acids, animal fats, etc for partial substitution or using as a blend in fossil diesel. This project is located at Samsthan Narayanpur (v), Nalgonda Dist, Telangana. The Second Biodiesel unit with a capacity of 250 TPD is located at APIIC, SEZ, Visakhapatnam, Andhra Pradesh.

2. Share Capital:

- The Equity Share Capital of the company as on 31st March, 2014 is 5,12,77,874 Equity Shares of Rs. 10/- each fully paid up.

During the year:

- During the year 2013-14, an amount of Rs. 7,71,54,140/- ( 77,15,414 Equity shares of Rs 10/- each fully paid up) was received towards Share application money pending for allotment.

3. Contingent Liabilities :

1. Bank Guarantees:

The Company has outstanding guarantees and counter guarantees of Rs.1,89,98,799/- as on 31.03.2014 (previous year ended 31.3.2013 is Rs.1,78,98,799/-) to bank, in respect of the guarantees given by the bank in favour of The President of India, Government of India, acting through the Telegraph Authority, and Ministry of Railways , Indian Railways Organization for Alternative Fuels (IROAF).

2. Letters of Credits

The Company has outstanding Letter of Credit to the extent of Rs 46,41,21,151/- as on 31.03.2014

3. Right to Recompense (ROR)

a) ROR to CDR lenders for the relief and sacrifice extended is subject to the provisions of CDR guidelines and MRA

b) As per CDR package the ROR amount for the year 2013-14 is Rs 6.97cr.

4. Secured Loans

a) The Company''s ISP Division has Over Draft facility to the tune of Rs 35 Lakhs with Bank of India which is secured against book debts of the company.

b) The Company''s Biodiesel Division has Working Capital facility to the tune of Rs 4546 Lakhs which is secured against Stocks and book debts of the company.

c) The working of your company was adversely affected due to insufficient working capital which resulted in to low capacity utilisation. To get the required working capital and to overcome the adverse effects of low capacity utilisation. Your Company made a reference to the CDR cell through Bank of India for restructuring of the debts of the Company and to have the required working capital limits for the company through CDR mechanism envisaged under RBI guidelines dated August 23, 2001 and subsequent amendments thereto. The CDR Empowered Group (CDR-EG) approved a restructuring scheme in terms of which the existing facilities were restructured in October 2013 and also approved the demerger of Internet Service provider and Biodiesel businesses. The Company had executed the Master Restructuring Agreement in February 2014 (the MRA) with CDR Lender in furtherance of CDR scheme, besides various other related documents as envisaged under the CDR scheme. The cut off date is 1st April 2013. The CDR proposal includes a two year moratorium on principal and term debt interest payments and approximately 3% reduction in interest rates. In terms of CDR scheme, the promoters (on their own or together with friends, relatives and associates) are required to bring in equity to the extent of Rs 6.23 Cr into the Company within the stipulated time, which has been infused successfully before March 2014.

During the financial year the following credit facilities have been sanctioned/ Restructured by consortium banks under CDR EG (Bank of India, State Bank of Hyderabad, UCO Bank and Punjab National Bank) which is secured by way of charge on the fixed assets of the Company and personal guarantees of the Directors.

1) Term Loan - III Restructured to Rs 39.44 Cr

2) Term Loan - IV Restructured to Rs 24.52 Cr

3) FITL - I Restructured to Rs 10.59 Cr

4) WCTL - I Restructured to Rs 22.00 Cr.

5) Additional Sanction of FITL - II Rs 24.54 Cr.

6) Additional Sanction of WCTL - II Rs 22.45 Cr.

7) WCFB enhanced from Rs 12.55 Cr (after WCTL-II Carved) to Rs 45.46 Cr.

8) WCNFB enhanced from Rs 36.75 Cr to Rs 80.83 Cr.

Term Loan I and II have been fully paid.

5. Investments

During the year 2004-05 the Company has invested 3,43,097 Equity shares of Rs 10/- each fully paid upto the shareholders of Southern Biofe Biofuels Private Limited as 99.97% subsidiary company and same is approved in Board of Directors. No other investments were made by the Company.

6. Segment Reporting

The activities of the Company can be broadly classified into Internet Service Provider (ISP), Manufacturing of Biodiesel, Used Cooking Oil trading and Contract and Biodiesel Plant Construction for IROAF at Tondiarpet, Chennai.

Income and direct expenses relation to segments are categorized based on items that are individually identifiable to that segment, while the remainder of cost is apportioned on appropriate basis. Certain expenses which are not specifically allocable to individual segments as the relevant services are used interchangeably. The company therefore believes that it is not practical to provide segment disclosures relating to such expenses. Accordingly, they are separately disclosed as unallowable and directly charged against total income.

In other segment shown in the table given below includes:-

a) The income and expenditure relating to 30 TPD capacity biodiesel unit at Tondiarpet, Chennai.

b) The income and expenditure relating to Cross country trading of Used Cooking Oil.

The assets of the company are used interchangeably between segments, and the management believes that it is not practical to provide segment disclosure relating to total assets and liabilities.

7. Deferred Tax Asset/ Liability:

The current charge for income tax is calculated in accordance with the relevant tax regulations applicable to the company. Deferred tax asset and liability is recognized for future consequences attributable to the timing differences that result between the profit offered for income tax and the profit as per the Financial Statements. Deferred Tax asset and liability are measured as per the tax rates/laws that have been enacted or substantively enacted by the balance sheet date.

During the current year, the company recognized the deferred tax asset for an amount of Rs 983.29 lakhs on business loss of the current financial year 2013-14. Such DTA is recognized only to the extent that there is virtual certainty supported by convincing evidence that sufficient future taxable income will be available against which such DTA can be realized.

The certainty for earning future taxable income is evidence with that the company is going to utilize the full capacity of plant for generation of Biodiesel situated at Vizag.

8. Directors'' Remuneration

The Managerial remuneration paid or provided in accordance with Schedule XIII of the Companies Act, 1956 to the Directors is as follows:

The above figures exclude the gratuity and leave encashment payable which cannot be separately identified from the composite amount advised by the Actuary.

9. Details of Quantitative Information:

The activities of the Company can be broadly classified into Internet Service Provider (ISP), Manufacturing of Biodiesel, Used Cooking Oil trading and Contract and Biodiesel Plant Construction for IROAF at Tondiarpet, Chennai. The ISP services and IROAF Construction are not capable of being expressed in any generic unit and hence it is not possible to give the quantitative details required under paragraph 3 and 4C of part II of the schedule VI of the Companies Act, 1956. In respect of Biodiesel Division and UCO Merchant Trading the quantitative information is as follows:

10. DETAILS OF RELATED PARTY TRANSACTION

The company has entered into the following related party transactions as on 31st March, 2014 such parties and transactions are identified as per Accounting Standard 18

(a) The following are the list of related parties:

11. PRIOR PERIOD ITEMS: NIL

12. Confirmations were obtained from debtors/ creditors as to the balances receivable/ payable to them as at year ended 31st March, 2014.

13. Earning per share:

The earning considered in ascertaining the companies earning per share comprise net profit after tax. The number of shares used in computing basic earning per share is the weighted average number of shares outstanding during the year.


Mar 31, 2013

1. Share Capital:

- The Equity Share Capital of the company as on 31st March, 2013 is 3,46,13,815 Equity Shares of Rs. 10/- each fully paid up.

During the year:

- During the year 2012-13, an amount of Rs. 9,84,40,593/- was received towards Share application money pending for allotment.

2. Contingent Liabilities :

(i) Bank Guarantees:

The Company has outstanding guarantees and counter guarantees of Rs.1,67,98,799 /- as on 31.03.2013 ( previous year ended 31.3.2012 is Rs. 1,67,98,799/- ) to bank, in respect of the guarantees given by the bank in favour of The President of India, Government of India, acting through the Telegraph Authority, Ministry of Railways , Indian Railways Organization for Alternative Fuels ( IROAF ).

(ii) Letter of Credit

The Company has outstanding Letter of Credit to the extent of Rs 32,48,92,159/-

3. Secured Loans

a) The Company''s ISP division has a Over Draft facility to the tune of Rs 35 Lakhs with Bank of India. which is secured against book debts of ISP Division of the company.

b) The Company''s Bio Diesel has a Working Capital facility to the tune of Rs 3500 Lakhs which is secured against stock and Debtors of the Company.

c) During the financial year the following credit facilities have been sanctioned by consortium banks (Bank of India, State Bank of Hyderabad, UCO Bank and Punjab National Bank )which is secured by way of charge on the fixed assets of the Company and personal guarantees of the Directors.

(i) Rs 36.00 crores non fund based Letter of Credit limit.

(ii) Working Capital enhancement from Rs 22.85 Cr to Rs 35.00 Cr.

4. Bio Diesel plant at Visakhapatnam

Bio diesel at Visakhapatnam is shut down due to major modification and up gradation of the technology till January 2013. Hence Interest and depreciation has not been charged to profit and loss account during the period of shut down. Interest on term loans of the plant has been capitalized during that shut down.

5. Investments

During the year 2004-05 the Company has invested in 3,43,097 Equity Shares of Rs.10/- each fully paid in Southern Biofe Biofuels Private Limited a 99.97% Subsidiary Company.

No other investments were made by the company.

6. Segment Reporting

The activities/segments of the Company can be broadly classified into Internet Service Provider (ISP), Manufacturing of Bio Diesel and others (Used Cooking Oil Trading and IROAF Contract)

The ISP division provides Internet Bandwidth to the Corporate Clients, Educational Institutions, Cyber Cafes, & Individual etc..,

The Bio Diesel division manufactures the Bio Diesel.

Income and direct expenses relation to segments are categorized based on items that are individually identifiable to that segment, while the remainder of cost is apportioned on appropriate basis. Certain expenses which are not specifically allocable to individual segments as the relevant services are used interchangeably. The company therefore believes that it is not practical to provide segment disclosures relating to such expenses. Accordingly, they are separately disclosed as unallowable and directly charged against total income.

In other segment shown in the table given below includes:- d) The income and expenditure relating to 30 TPD capacity bio diesel unit at Tondiarpet, Chennai.

e) The income and expenditure relating to Cross country trading of Used Cooking Oil.

The assets of the company are used interchangeably between segments, and the management believes that it is not practical to provide segment disclosure relating to total assets and liabilities.

7. Deferred Tax Asset/ Liability:

The current charge for income tax is calculated in accordance with the relevant tax regulations applicable to the company. Deferred tax asset and liability is recognized for future consequences attributable to the timing differences that result between the profit offered for income tax and the profit as per the Financial Statements. Deferred Tax asset and liability are measured as per the tax rates/laws that have been enacted or substantively enacted by the balance sheet date.

8. Details of Quantitative Information:

The Company is engaged in the Internet Service Provider (ISP) services. The ISP services are not capable of being expressed in any generic unit and hence it is not possible to give the quantitative details required under paragraph 3 and 4C of part II of the schedule VI of the Companies Act, 1956. In respect of Bio Diesel Division the quantitative information is as follows:

9 PRIOR PERIOD ITEMS: NIL

10. Confirmations were obtained from debtors/ creditors as to the balances receivable / payable to them as at year ended 31st March, 2013.

11. Earning per share:

The earning considered in ascertaining the companies earning per share comprise net profit after tax. The number of shares used in computing basic earning per share is the weighted average number of shares outstanding during the year.

12. Previous year figures have been regrouped wherever necessary.


Mar 31, 2011

1.1 Share Capital:

(a) The Equity Share Capital of the company as on 31st March, 2011 is 3,46,13,815 Equity

Shares of Rs. 10/- each fully paid up. During the year;

- During the year 2010-11, Thirteen Lakh (13,00,000) warrants were converted into equity- shares on 5 th April 2010.

- Out of 13,00,000 convertible warrants, amount for 3,00,000 warrants was received on 31st March 2010 but the shares were allotted on 5th April 2010.

- During the year 2010-11, the company has received a share premium of Rs. 14.31 per share for 10,00,000 shares amounting to Rs. 1,43,10,000/-.

2.2 Contingent Liabilities : 1. Bank Guarantees:

The Company has outstanding guarantees and counter guarantees of Rs.28,98,799/- as on3lJ03^0ll {previous year ended 31.3.2010 is Rs. 42,05,794/-) to bank, in respect of the guarantees given by the bank in favour of The President of India, Government of India, acting through the Telegraph Authority , Andhra Pradesh State Road Transport Corporation (APS RTC) and Ministry of Railways.

2.3 Secured Loans

a) The Company has a Over Draft facility for ISP Division of Rs.0.35Lakhs with Bank of India. This is secured against book debts of the company.

b) The Company has a Working Capital facility for Bio Diesel Division - Nalgonda unit of Rs.481 Lakhs with Bank of India consortium (Bank of India, State Bank of Hyderabad, UCO Bank and Punjab national Bank) which is secured against Stock of the company.

c) The Company has a working capital facility for Bio-diesel division-Visakhapatnam unit of Rs 3894 lakhs with Bank of India consortium (Bank of India, State Bank of I lyderabad, UCO Bank and Punjab National Bank) which is secured against Stock of the company.

2.4 Investments

During the year 3004-05 the Company has invested Rs. 3,430,970/- in Southern Biofe- Biofuels Limited to acquire its business by issuing 3,43,097 Equity shares of Rs. 10/- each fully paid upto the share holders of Southern Biofe-Biofules Private Limited on swap basis. Subsequently the company has become a 10(1% subsidiary to Southern Online Biotechnologies Ltd, and the same is approved by the Board of Directors and shareholders of the Company

2.5 Segment Reporting

The activities of the Company can be broadly classified into two segments, viz., Internet Service Provider (ISP) and Manufacturing of Bio Diesel.

The ISP division provides Internet Bandwidth to the Corporate Clients, Educational Institutions, Cyber Cafes, & Individual etc.,

The Bio Diesel division manufactures the Bio Diesel.

Income and direct expenses relation to segments are categorized based on items that are individually identifiable to that segment, while the remainder of cost is apportioned on appropriate basis. Certain expenses which are not specifically allocable to individual segments as the relevant services are used interchangeably. The company therefore believes that it is not practical to provide segment disclosures relating to such expenses. Accordingly they are separately disclosed as unallowable and directly charged against total income.

The assets of the company ate used interchangeably between segments, and the management believes that it is not practical to provide segment disclosure relating to total assets and liabilities.

2.6 Deferred Tax Asset/ Liability:

The current charge for income tax is calculated in accordance with the relevant tax regulations applicable to the company. Deferred tax asset and liability is recognized for future consequences attrihutable to the timing differences that result between the profit offered for income tax and the profit as per the Financial Statements, Deferred Tax asset and liability are measured as per the tax rates/laws that have been enacted or substantively enacted by the balance sheet date.

2.7 Foreign Exchange Earnings - NIL -

2.13 PRIOR PERIOD ITEMS: NIL

2.14 Confirmations were obtained from debtors/ creditors as to the balances receivable/ payable to them as at year ended 31st March, 2011.

2.16 Gratuity and Leave encashment etc.

1. Gratuity Provision: During the year the Company has provided for Gratuity on Actuarial Valuation basis to comply with AS 15 (Revised 2005), 1. The Amount of gratuity paid during the year is Rs. 6,67,819/-

2.17 Previous year figures have been regrouped wherever necessary.


Mar 31, 2010

1.1 Share Capital:

a) The Equity Share Capital of the company as on 31st March, 2010 is 3,33,13,815 Equity Shares of Rs. 10/- each fully paid up.

During the year:

- On 21.05.2009, 13.08.2009 and 30.03.2010 Out of First preferential issue, Share warrants of number 15,84,500 and out of second preferential issue, share warrants of number 26,50,000 and out of third preferential issue 66,00,000 were forfeited, due to lapse of 18 months from the date of Issue.

- Monies relating to forfeiture of Share warrants amounting to Rs.1,08,34,500 were transferred to Capital Reserve.

- Out of preferential Issue, made on 30.09.2008,2,00,000 Share warrants were fully converted in to Equity Shares on 05.03.2010 and 2,00,000 Share warrants are fully converted in to Equity Shares on 10.03.2010.

- Out of the preferential issues made 06.10.2008 , 2,00,000 Shares warrants were fully converted into Equity Shares on 15.02.2010.

- Funds against share warrants of number 3,00,000 are received, pending allotment

- Balance of Share warrants, which are pending for conversion, are 10,00,000.

(The same should be converted into Equity Shares on or before 18 months from the date of allotment, else the entire amount will be forfeited.)

1.2 Contingent Liabilities :

1. Bank Guarantees:

The Company has outstanding guarantees and counter guarantees of Rs. 42,05,794/- as on 31.03.2010 (previous year ended 31.3.2009 is Rs. 46,97,528/- ) to bank, in respect of the guarantees given by the bank in favour of The President of India, Government of India, acting through the Telegraph Authority , Andhra Pradesh State Road Transport Corporation ( APS RTC) and Ministry of Railways .

1.3 Secured Loans

a) The Company has a Over Draft facility for ISP Division of Rs.0.35Lakhs with Bank of India. This is secured against book debts of the company.

b) The Company has a Working Capital facility for Bio Diesel Division - Nalgonda Division of Rs. 481 Lakhs with Bank of India, which is secured against Stock of the company.

c) During the financial year the company got additional sanction Rs. 1255 Lakhs working capital for the Bio Diesel unit -2 at Visakhapatnam under API1C - SEZ, from Bank of India and State Bank of Hyderabad through consortium agreement which is secured by way of charge on the fixed assets of the Company and personal guarantees of the Directors..

1.4 Investments

During the year 2004-05 the Company has invested the 3,43,097 Equity Shares of Rs.10/ - each fully paid up to the shareholders of Southern Bio fuels Private Limited as 100% subsidiary company and same is approved in Board of Directors.

No other investments were made by the company.

1.5 Segment Reporting

The activities of the Company can be broadly classified into two segments, viz., Internet Service Provider (ISP) and Manufacturing of Bio Diesel.

The ISP division provides Internet Bandwidth to the Corporate Clients, Educational Institutions, Cyber Cafes, & Individual etc.,

The Bio Diesel division manufactures the Bio Diesel.

Income and direct expenses relation to segments are categorized based on items that are individually identifiable to that segment, while the remainder of cost is apportioned on appropriate basis. Certain expenses which are not specifically allocable to individual segments as the relevant services are used interchangeably. The company therefore believes that it is not practical to provide segment disclosures relating to such expenses. Accordingly, they are separately disclosed as unallowable and directly charged against total income.

The assets of the company are used interchangeably between segments, and the management believes that it is not practical to provide segment disclosure relating to total assets and liabilities.

1.6 Deferred Tax Asset/ Liability:

The current charge for income tax iscalculated in accordance with the relevant tax regulations applicable to the company. Deferred tax asset and liability is recognized for future consequences attributable to the timing differences that result between the profit offered for income tax and the profit as per the Financial Statements. Deferred Tax asset and liability are measured as per the tax rates/laws that have been enacted or substantively enacted by the balance sheet date.

1.7 Foreign Exchange Earnings

1.8 Directors Remuneration

The above figures exclude the gratuity and leave encashment payable which can not be separately identified from the composite amount advised by the Actuary.

1.9 Details of Quantitative Information:

1.10 DETAILS OF RELATED PARTY TRANSACTION

The company has entered into the following related party transactions as on 31 st March,2(T10 such parties and transactions are identified as per Accounting Standard 18

a] The following are that list of related parties:

Name of the Party Relationship

Southern Biofe Biofuels Pvt. Ltd 100 % Subsidiary

Mr. N. Satish Kumar Managing Director

Mr. K. Radha Krishna Director - Finance

Mr. B. Sreedhara Reddy Director - Admin

Mr. B. H. R. Balaji Executive Director

Mr. K. Tejesh Kumar Director

Mr. K. Venkateshwara Rao Promoter



1.11 PRIOR PERIOD ITEMS: NIL

1.12 Confirmations were obtained from debtors/ creditors as to the balances receivable/ payable to them as at year ended 31st March, 2010.

1.13 Earning per share:

1.14 Gratuity and Leave encashment etc.

a) Gratuity Provision: During the year the Company has provided for Gratuity on Actuarial Valuation basis to comply with AS 15 (Revised 2005).

b) The Amount of gratuity paid during the year is . 47,560.

1.15 Previous year figures have been regrouped wherever necessary.









 
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