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Notes to Accounts of Techindia Nirman Ltd.

Mar 31, 2015

NOTE N0 1 : GENERAL INFORMATION

The company is incorporated in the year 1979 under the Indian Companies Act, 1956. The company is engaged in the business of infrastruture development.

NOTE NO 2

(1) The Company had in the past revalued the land admeasuaring 8.65 acres situated at gut no 64/2, 63,62/3, Itkheda Paithan Road, Aurangabad. The corresponding value of Rs. 25,61,37,775 representing such upward revision has been shown as revaluation reserve under the head "Reserves & Surplus".

(2) Pursuant to the notificationof Schedule II of the Companies Act, 2013, (the Act) by the Ministry of Corporate Affairs effective from 01.04.2014, the management has internallyreassessed based upon the technicalevaluationand change, wherever necessary, the use ful life to compute depreciationto confirmthe requirementof the Act. Accordingly,the carrying amount as at 01.04.2014 is being depreciated over the revised useful life of the assets.

NOTE 3

Contingent Liabilities not proivided for in respect of

Particulars Current Year Previous Year (Rs) (Rs.)

a) Arrears of Dividend on Cumulative 26,972,993 25,557,616 Redeemable preference shares (including Corporate Dividend Tax)

b) Penalty in respect of income tax assessment completed for assesment year 2001-02 and 2003-04 (net of deposit of Rs. 1,42,00,000; Previous 162,813,562 175,013,562 year 30,00,000) which is being constested in appeal before Commissioner of Income Tax (Appeal) by the Company.

NOTE 4

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

NOTE 5

The accounts including detailed transactions of Creditors, Unsecured Loans, Loans and Advances are subject to confirmations and reconciliations. The difference as may be noticed on reconciliation will be accounted for on completion thereof. In the opinion of the management, the ultimate difference will not be material.

NOTE 6

In view of huge carried forward unabsorbed depreciation, the management has, as the matter of prudence, not recognized deferred tax assets during the year.

NOTE 7

The operations of the company have continued to be suspended during the year. The accumulated losses of the Company have exceeded its net worth excluding revaluation reserve, however, the accounts have been prepared on a going concern basis in veiw of the real estate activity planned in the near future.

NOTE 8

Related parties disclosure as per Accounting Standard - 18:

a) List of related parties

i) Associates:-

1 Agri Tech (India) Ltd.

ii) Key Management Personnel:-

Mr. Satish Kagliwal (Managing Director)

NOTE 9

Previous year's figures have been regrouped / rearranged wherever necessary to conform to the current year's presentation.


Mar 31, 2014

NOTE 1

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

NOTE 2

The accounts including detailed transactions of certain Creditors, Unsecured Loans, Loans and Advances are subject to confirmations and reconciliations. The difference as may be noticed on reconciliation will be accounted for on completion thereof. In the opinion of the management, the ultimate difference will not be material.

NOTE 3

In view of the carried forward unabsorbed depreciation, the management has, as the matter of prudence, not recognized deferred tax assets during the year.

NOTE 4

Related parties disclosure as per Accounting Standard - 18:

a) List of related parties

i) Associates:-

Agri Tech (India) Ltd. 1

Nath Bio-Genes Ltd. 2

Nath Biotechologies Ltd 3

ii) Key Management Personnel:-

Mr. Satish Kagliwal (Whole time Director)

NOTE 5

Previous year''s figures have been regrouped / rearranged wherever necessary to conform to the current year''s presentation.


Mar 31, 2013

NOTE 1

Contingent Liabilities not proivided for in respect of

Current Year Previous Year Particulars (Rs.) (Rs.)

a) Arrears of Dividend on Cumulative Redeemable preference shares (including Corporate Dividend Tax) 2,41,59,383 2,27,61,150

b) Amount of interest liability / penalty / liquidated damages, if any on delayed / non-payment of certain Amount Amount creditors / loans (secured or unsecured) / statutory dues. Unascertainable Unascertainable

c) Amount of penalty in respect of assessment completed for assesment year 2001-02 and 2003-04 earlier year. (net of advances of Rs. 20,00,000) which is being constested by the Company. 17,50,13,562 Nil

NOTE 2

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

NOTE 3

The accounts including detailed transactions of Creditors, Debtors, Unsecured Loans, Deposits, Loans and Advances are subject to confirmations and reconciliations. The difference as may be noticed on reconciliation will be accounted for on completion thereof. In the opinion of the management, the ultimate difference will not be material.

NOTE 4

No provision for the Income Tax and Minimum Alternate Tax for the year has been considered necessary in view of the unabsorbed depreciation and carried forward losses.

NOTE 5

In view of the carried forward unabsorbed depreciation, the management has, as the matter of prudence, not recognized deferred tax assets during the year.

NOTE 6

Related parties disclosure as per Accounting Standard - 18:

a) List of related parties

i) Associates:-

1 Agri Tech (India) Ltd.

2 Global Transgenetics Ltd

3 Nath Bio-Genes Ltd.

4 Nath Biotechologies Ltd

ii) Key Management Personnel:-

Mr. Satish Kagliwal (Whole time Director)

NOTE 7

Previous year''s figures have been regrouped / rearranged wherever necessary to conform to the current year''s presentation.


Mar 31, 2012

NOTES- 1

Contingent Liabilities not proivided for in respect of

Current Year Previous Year Particulars (Rs) (Rs.)

a) Arrears of Dividend on Cumulative Redeemable preference shares (including Corporate Dividend Tax) 22,761,150 19,964,684

b) Amount of interest liability / penalty / liquidated damages, if any on delayed / non-payment of certain Amount Amount creditors / loans (secured or unsecured) / statutory dues. Unas certainable Unascertainable

NOTES- 2

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

NOTES- 3

The accounts of certain Creditors, Unsecured Loans, certain current account balances with banks, Deposits, Loans and Advances are subject to confirmations and reconciliations, if any. The difference as may be noticed on reconciliation will be accounted for on completion thereof. In the opinion of the management, the ultimate difference will not be material.

NOTES- 4

No provision for the Income Tax for the year has been considered necessary in view of the unabsorbed depreciation and carried forward losses.

NOTES- 5

In view of the carried forward business losses, the management has, as the matter of prudence, not recognized deferred tax assets during the year.

NOTES- 6

Related parties disclosure as per Accounting Standard - 18:

a) List of related parties

i) Associates:-

1 Agri Tech (India) Ltd.

2 Global Transgenetics Ltd

3 Nath Industrial Chemicals Ltd.

4 Nath Bio-Genes Ltd.

5 Rama Pulp & Papers Ltd

6 Nath Securities Ltd

7 Nath Biotech Ltd

8 Nath Royal Ltd

ii) Key Management Personnel:-

Mr. Satish Kagliwal (Whole time Director)

NOTES- 7

Previous year's figures have been regrouped / rearranged wherever necessary to conform to the current year's presentation


Mar 31, 2010

Current Year Prev Year Particulars

(Rs) (Rs.)

Contingent liabilities not provided for in respect of disputed demand in the matters of Income Tax

1 a) 28,158,193 28,158,193

including interest

Arrears of Dividend on Cumulative Redeemable preference shares (including Corporate Dividend

b) 19,964,684 18,557,187

Tax)

Amount of interest liability / penalty / liquidated damages, if any on delayed / non-payment of certain Amount Amount

c) creditors / loans (secured or unsecured) / statutory dues. Unascertainab Unascertainabl

le e

Liabilities and other obligations related to seed business and Corporate farming division which has Amount Amount

d) been transferred to the transferee companies viz. Nath Biogenes (India) Ltd and Agritech (India) Ltd. Unascertainab Unascertainabl

le e

2006.

2 Segmental Reporting : -

Criteria Segment

Product base 1. Seed

2. Land

Customer base Domestic market / overseas market

Geographical Area of Operation Domestic market / overseas market

3 Related parties disclosure as per Accounting Standard - 18:

a) List of related parties

i) Associates:-

Nath Pulp & Paper Mills Ltd.

Nath Industrial Chemicals Ltd.

Nath Capital & Financial Services Ltd.

Global Transgenetics Ltd

Nath Bio-gene Ltd.

Mayo (India) Ltd

Nath Securities Ltd

Agri Tech (India) Ltd.

Rama Pulp & Papers Ltd

Nath Biotech Ltd

Nath Royal Ltd

ii) Key Management Personnel:-

Mr. Satish Kagliwal (Whole time Director)

4 Particulars of Licensed and Installed Capacities and Production (As certified by the Management) The company does not have any manufacturing plant/ processing center, therefore, the information regarding licensed, installed a) capacity and production data have not been given.

5 Previous years figures have been regrouped / rearranged wherever necessary to conform to the current years presentation.

 
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