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Notes to Accounts of Taaza International Ltd.

Mar 31, 2015

1. Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) is : Rs. NIL (Previous year : NIL)

2. Contingent Liabilities not provided for is :

S. Particulars 31.03.2015 31.03.2014 No.

1. Bill Discounted Under LC 43,14,80,700 21,22,78,262

2. Bill Discounted under BG 57,99,81,685 38,66,97,910

3. In the opinion of the Board, the current assets, loans and advances are approximately of the value stated in realized in the ordinary course of business. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

4. Sundry Debtors, Sundry Creditors, Advances and Deposits are subject to confirmation and reconciliations.

5. Dividend to the extent of Rs.51,23,047/- declared for the financial year 2010-2011, has not been paid till date.

6. Dues to micro & small-scale industrial undertakings: As at March 31,2015 as per available information with the company, there are no dues to small scale industrial undertakings.

7. Paise have been rounded off to the nearest rupee.

8. Figures for the previous year are regrouped and rearranged, wherever necessary.

9. Notes 1 to 19 form part of Balance Sheet and Profit and Loss account have been authenticated.


Mar 31, 2014

1. Estimated amount of contracts remaining to be executed on capital account and not pro- vided for (net of advances) is : Rs. NIL (Previous year : NIL)

2. Contingent Liabilities not provided for is;

Sl. No. Particulars 31.03.2014 31.03.2013

1. Bill Discount under LC 21,22,78,262 42,65,22,607

2. Bill Discount under BG 38,66,97,910 48,56,23,332

3. In the opinion of the Board, the current assets, loans and advances are approximately of the value stated in realized in the ordinary course of business. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

4. Sundry Debtors, Sundry Creditors, Advances and Deposits are subject to confirmation and reconciliations if any, which in the opinion of the management will not be significant.

5. Dividend to the extent of Rs.51,23,047/- declared for the financial year 2010-2011, has not been paid till date.

6. Related Party Disclosure;

Disclosures as required by the Accounting Standard 18 "Related Party Disclosure" are given below;

Key Management Personnel (Directors)

Ravinder Rao Polsani Managing Director

Namburu Venugopal Non Executive Non Independent Director

Ganesh Vithal Kamath Non Executive Independent Director

Ayyala Somayajula Srinivas Executive Director cum CFO

Yernani Satish Kumar Non Executive Independent Director

Chittars Bhandhavi Company Secretary

7. Dues to micro & small-scale industrial undertakings: As at March 31,2014 as per available information with the company, there are no dues to small scale industrial undertakings.

8. Paise have been rounded off to the nearest rupee.

9. Figures for the previous year are regrouped and rearranged, wherever necessary.

10. Notes 1 to 19 form part of Balance Sheet and Profit and Loss account have been authenticated.


Mar 31, 2013

1. Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) is : Rs. NIL (Previous year : NIL)

2. In the opinion of the Board, the current assets, loans and advances are approximately of the value stated in realized in the ordinary course of business. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

3. Sundry Debtors, Sundry Creditors, Advances and Deposits are subject to confirmation and reconciliations if any, which in the opinion of the management will not be significant.

4. Dividend to the extent of Rs.72,58,110/- declared for the financial year 2010-2011, has not been paid till date.

5. Related Party Disclosure;

Disclosures as required by the Accounting Standard 18 "Related Party Disclosure" are given below;

Key Management Personnel (Directors)

Ravinder Rao Polsani Managing Director

Namburu Venugopal Additional Director

Srinivas Ayyala Somayajula Director

Ganesh Vithal Kamath Director

6. Dues to micro & small-scale industrial undertakings: As at March 31, 2013 as per available information with the company, there are no dues to small scale industrial undertakings.

7. Paise have been rounded off to the nearest rupee.

8. Figures for the previous year are regrouped and rearranged, wherever necessary.

9. Notes 1 to 20 form part of Balance Sheet and Profit and Loss account have been authenticated.


Mar 31, 2010

1. Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) is : Rs. NIL (Previousyear : NIL)

2. Contingent Liabilities not provided for is : Rs.NIL (Previous year: NIL)

3. In the opinion of the Board, the current assets, loans and advances are approximately of the value stated in realized in the ordinary course of business. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

4. Some of the balances in Sundry Debtors, Sundry Creditors, Advances and Deposits are subject to confrmation, reconciliations and adjustments if any, which in the opinion of the management will not be signifcant.

5. Related Party Disclosure

Disclosures as required by the Accounting Standard 18 "Related Party Disclosure" are given below;

Key Management Personnel (Directors)

RAVINDER RAO POLSANI Managing Director

YALAMARTHY SRINIVAS Addl. Director

VIKRAM CHAKRAVARTHY PHANIBHATLA Director

GANESH VITHAL KAMATH Director

6. Earnings Per Share

The calculation of Earning Per Share (EPS) as disclosed in the Balance Sheet Abstract has been made in accordance with Accounting Standard (AS-20) on Earnings per Share issued by the Institute of Chartered Accountants of India. A statement on calculation of basic and diluted EPS is as under;

7. Foreign Currency Earnings : Rs. 5,07,300 (Previous year : NIL)

8. Expenditure in Foreign Currency : Rs.23,79,400 (Previous year :NIL)

9. Figures for the previous year are regrouped and rearranged, wherever necessary.

 
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