Home  »  Company  »  Texmaco Infrastructu  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Texmaco Infrastructure & Holdings Ltd.

Mar 31, 2015

1.1 Advance from others includes Rs. 300 lakhs received from a party as security deposit in terms of an agreement for development of land, in which the party defaulted and the matter is presently under arbitration.

1.2 Post demerger of the Heavy Engineering and Steel Foundry businesses of the Company to Texmaco Rail & Engineering Limited, the first charge created on its immovable property and the corporate guarantee issued for the said businesses, continue as collateral security for the facilities extended to Texmaco Rail & Engineering Limited by the State Bank of India in respect of the demerged businesses.

1.3 The company has surrendered the requisite land to DDA from its Industrial plot and has retained 39673.09 sq. mtrs. of land in term of the orders of the Hon'ble Supreme Court. The District Judge of Delhi the executing authority has issued orders that the execution proceedings stand closed being satisfied.

Post acceptance of surrendered land by DDA, the balance area is now in the clear possession of the Company in terms of the Supreme Court Order.

1.4 As per the Agreement with Chambal Fertilizers & Chemicals Limited, when they took over the assets and liabilities of Baddi Unit from 01-10-99, Texmaco Infrastructure & Holdings Limited (formerly Texmaco Limited) is liable to pay wages and salary in respect of excess workers/ staff taken over by them over and above the required one to run the Baddi Unit. The Company incurred an expenditure of Rs. 136.65 lakhs (previous year Rs 106.23 lakhs) by way of Legal Expenses and payment of dues and ex-gratia to the ex-employees for obtaining vacant possession of the residential quarters unauthorized occupied by them even after cessation of their employment. These expenses have been shown as expenses on Land and Capitalised under the head " Land". 2.26

In the opinion of the management, current assets, loans and advances have a value on realisation in the ordinary course of business unless otherwise stated, at least to the amount at which they are stated and the provisions for all known and determined liabilities is adequately provided.

1.5 Balance of debtors and loans and advances are subject to confirmation from respective parties.

1.6 Following assets (Company's share) are held under co ownership with other companies

1.7 Previous year figure have been regrouped/ rearranged/ restated/ recast wherever necessary to conform this year classification.

1.8 Figures below Rs. 500/- have been omitted for rounding off and Rs. 500/- & above have been rounded off to the next Rs. 1,000/-.


Mar 31, 2014

A. Key Management Personnel

Shri Hemant Kumar Shri Hemant Kumar

(Executive Director) (Executive Director)

B. Subsidiaries

High Quality Steels Limited

(100% of the Capital held by the Company)

Macfarlane & Company Limited

(71.27% of the Capital held by the Company)

High Quality Steels Limited

(100% of the Capital held by the Company)

Macfarlane & Company Limited

(71.27% of the Capital held by the Company!

C. Associates

Lionel India Limited

(50.00% of the Capital held by the Company) Texmaco Rail & Engineering Limited (30.00% of the Capital held by the Company)

Lionel India Limited

(50.00% of the Capital held by the Company) Texmaco Rail & Engineering Limited (30.00% of the Capital held by the Company)

D. Group Company where transaction exists

Zuari Investments Ltd

Duke Commerce Ltd.

Adventz Securities Enterprises Ltd.

Zuari Global Ltd.

Adventz Holdings Ltd

Adventz investment & Holdings Ltd.

New Eros Tradecom Ltd.

Master Exchange & Finance Ltd.

Adventz Investments Co. Pvt. Ltd.

Adventz Securities Trading Pvt. Ltd.

Adventz Finance Pvt. Ltd..

Eureka Traders Pvt. Ltd.

Abhishek Holdings Pvt. Ltd.

Greenland Trading Pvt. Ltd.

Indrakshi Trading Company Pvt. Ltd.

High Quality Steels Ltd.

Zuari Agro Chemicals Ltd.

Zuari Investments Ltd

Duke Commerce Ltd.

Adventz Securities Enterprises Ltd.

Zuari Global Ltd.

Adventz Holdings Ltd

Adventz investment & Holdings Ltd.

New Eros Tradecom Ltd.

Master Exchange & Finance Ltd.

Adventz Investments Co. Pvt. Ltd

Adventz Securities Trading Pvt. Ltd.

Adventz Finance Pvt. Ltd.

Eureka Traders Pvt. Ltd

Abhishek Holdings Pvt. Ltd.

Greenland Trading Pvt. Ltd

Indrakshi Trading Company Pvt. Ltd.

High Quality Steels Ltd.

Zuari Agro Chemicals Ltd.

Previous year figure have been regrouped/ rearranged/ restated/ recast wherever necessary to confirm this year classification. Figures below Rs. 500/- have been omitted for rounding off and above Rs. 500/- have been rounded off to the next Rs. 1,000/-.


Mar 31, 2013

1.1

The Company has agreed to continue with the charge on its property at Kamala Nagar, Delhi in favour of the Bank from where credit facilities were availed for working capital for its Heavy Engineering and Steel Foundry businesses demerged to Texmaco Rail & Engineering Ltd (TexRail), an associate company under a Court approved scheme effective from 01.04.2010. It being a requirement of the Bank, during the initial years of the operations of TexRail after demerger, the Company has also given a Corporate Guarantee to the bank in support of the charge against the said working capital facilities to the extent of Rs 50 crore.

1.2

Pursuant to the Supreme Court order dated 25th March, 2010 the Company could retain 35% of its Industrial Land with a F.A.R., 1.5 times of normal and surrender the balance Land to DDA. In terms of the decision taken by the screening committee of the DDA, the Company surrendered and DDA has duly taken possession of 52,201 sq mtrs. land out of 58,951 sq mtrs. that was required to be surrendered to DDA. The balance area has not yet been surrendered being the balance 5 nos residential quarters occupied by ex-employees, not yet vacated, for which the management has taken necessary steps for obtaining vacant possession.

1.3

As per the Agreement with Chambal Fertilizers & Chemicals Ltd., when they took over the assets and liabilities of Baddi Unit from 01-10-99, Texmaco Infrastructure & Holdings Limited (formerly Texmaco Limited) is liable to pay wages and salary in respect of excess workers/ staff taken over by them over and above the required one to run the Baddi Unit. The Company incurred an expenditure of Rs. 96.94 lakhs (previous year Rs 51.08 lakhs) by way of Legal Expenses and payment of dues and ex-gratia to the ex-employees for obtaining vacant possession of the residential quarters unauthorized occupied by them even after cessation of their employment. These expenses have been shown as expenses on Land and Capitalised under the head D LandD.

1.4

In the opinion of the management, current assets, loans and advances have a value on realisation in the ordinary course of business unless otherwise stated, at least to the amount at which they are stated and the provisions for all known and determined liabilities is adequately provided.

1.5

Balance of debtors and loans and advances are subject to confirmation from respective parties.

1.6

Following assets (company''s share) are held under co ownership with other companies

Figures below Rs. 500/- have been omitted for rounding off and above Rs. 500/- have been rounded off to the next Rs. 1000/-.


Mar 31, 2012

1. Company Overview

Texmaco Infrastructure & Holdings Limited, is involved in carrying on the business of constructing, creating, developing etc. all types of infrastructural facilities required for socio-economic development including social infrastructure related facilities in turnkey projects such as roads, water supply, power supply works, , commercial complexes, etc., industrial structure and providing necessary equipments and facilities either on its own or through private sector participation, joint venture etc., or such other facilities as may be required for attaining the object and to acquire, purchase, own, take on lease, any type of lands or properties and to act as developers, buifders.

The abridged financial statement have been prepared pursuant to Rule 7 A of the Companies (Central Government's) General Rules and Forms, 1956 and are based on the annual accounts for the year ended March 31, 2012

2. Figures below Rs. 500/- have been omitted for rounding off and above Rs. 500/- have been rounded off to the next Rs. 1,000/- (Refer Note 2.36 in the Notes to Accounts of the annual standalone financial statement.)


Mar 31, 2010

1 Contingent Liabilities (not 2009-10 2008-09 provided for) in respect of:

(a) Guarantees given by Banks 32,258.80 39,607.46

(b) Letters of Credit opened by Banks 25,397.05 25,638.36

(c) Claims under dispute (excise duty & service tax) 2,054.48 2,600.96

(d) Claims not acknowledged as debts (Amount unascertainable) - -

(e) Income Tax assessment re-opened (Amount unascertainable) - -

2. The Company accounts for gratuity liability of its Engineering units equivalent to the premium amount paid/ payable to Life Insurance Corporation of India (LIC). However, the entire amount of provision of gratuity has not been funded with LIC.

3. As per the Agreement with Chambal Fertilizers & Chemicals Ltd., when they took over the assets and liabilities of Baddi Unit from 01-10-99, Texmaco is liable to pay wages and salary in respect of excess workers/ staff taken over by them over and above the required one to run the Baddi Unit. The Company has paid Rs. 21.79 Lakhs (Previous year Rs. 44.75 Lakhs) during the year to such workers/ staff including various other related expenses. Such expenses have been shown as expenses on land and capitalised under the head v Land.

4. Pending receipt of intimation from its suppliers about registration under MSMED Act, the management has reclassified erstwhile SSI creditors as MSMED creditors.

5. Unclaimed dividend amount have been separately funded in the respective Bank Accounts.

6. In the opinion of the management, current assets, loans and advances have a value on realisation in the ordinary course of business unless otherwise stated, at least to the amount at which they are stated and the provisions for all known and determined liabilities is adequately provided.

7. Balance of debtors and loans and advances are subject to confirmation from respective parties.

8. As per the valuation report submitted by the external valuer appointed for the purpose of the company has revalued some of its fixed assets i.e. certain Land, Building, Road, Railway siding and Plant & Machinery, of its engineering units as at 31.12.1985, after considering depreciation for the year, at net replacement cost. As a result, there has been a net increase in the book value of assets as at 31.12.1985 of Rs. 3,484.58 lakhs which has been transferred to Revaluation Reserve Account. The umamortised balance as 31st March 2010 is Rs. 1,306.55 lakhs.

9. Sales include inter departmental transfers Rs.l4,914.81lakhs (previous year Rs. 20,061.00 lakhs), Tax deducted at source Rs.1,267.68 lakhs (previous year Rs. 735.73 lakhs), excess/(short) realization of bills (net) Rs. (5.11) lakhs (previous year Rs. 17.74 lakhs).

10. Export incentives, escalation, insurance claims ana otner claims nave been accounted Tor on accrual basis based on latest data available with the Company and where the realization of the amount is reasonably certain.

11. Consumption of raw materials, components, stores and spares parts includes profit/loss on sale thereof.

12. During the year, the company has redeemed 2,74,050 6% Redeemable Non cumulative Preference Share of Rs. 100/- each amounting to Rs. 274.05 lakhs.

13. The Company has allotted 1,64,00,000 Equity Shares of Re. 1/- each at a premium of Rs. 103/- per Equity share aggregating to Rs. 17,056 lakhs in July, 2009 against QIP issue. Subsequent to the issue of Equity Shares to the Qualified Institutional Buyers the paid up Equity share capital of the company has increased from Rs. 1,107.83 lakhs to Rs. 1,271.83 lakhs. QIP expenses are adjusted with Share premium account including Rs. 2 lakhs paid to statutory auditors of the company.

14. Issued, Subscribed and Paid up Share Capital of the company is excluding 9,960 Nos of Equity Shares lying in abeyance - NSDL - Transit case (Previous Year - 9,960 Nos of Equity Shares)

15.Previous year figure have been regrouped/ rearranged/ restated/ recast wherever necessary to confilm this year classiflcation.

16. Figures below Rs. 500 have been omitted for rounding off.

 
Subscribe now to get personal finance updates in your inbox!