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Notes to Accounts of Thakker's Developers Ltd.

Mar 31, 2015

1. Contingent liabilities not provided for

i) Claims against company not Nil Nil acknowledged as debts.

ii) Income Tax demands 10,53,039 10,53,039 disputed in appeal.

iii) Letters of credit issued by banks Nil Nil in favour of suppliers

2. Related Party transaction

List of Related Party

Other parties with whom the Company has entered in to transaction during the year

a) Associates and Joint Ventures/ Partnership Firm/ LLP :

Agro Farms Shri Balaji Enterprises

Khushal Farms Shri Rachana Construction

Model Activity Sky Farms

Pooja Farms Takshashila and Thakker Infrastructure (LLP)

Shree Kalavati Farm

b) Key Management Personnel :

Thakker Jitendra M. Thakker Narendra M.

Thakker Rajendra M. Thakker Nishant R.

c) Enterprises in which Key Management Personnel have significant influence :

Abhilasha Horticulture Pvt.Ltd.

Abhishek Kutir Nirman Pvt.Ltd.

Alankar Marketing Pvt.Ltd.

Amardeep Agriculture Pvt.Ltd.

Babita Marketing Pvt.Ltd.

Bhaktibhav Horticulture Pvt.Ltd.

Bholenath Farm Pvt.Ltd.

Bholenath Marketing Pvt.Ltd.

Bhushan Farms Pvt.Ltd.

Charminar Marketing Pvt.Ltd.

Dattatray Marketing Pvt.Ltd.

Dhananjay Marketing Pvt.Ltd.

Dharam Marketing Pvt.Ltd.

Durgawati Horticulture Pvt.Ltd.

Fag Horticulture Pvt.Ltd.

Fragmeal Marketing Pvt.Ltd.

Freedom Marketing Pvt.Ltd.

Gananayak Enterprises Pvt.Ltd.

Gaurav Developers Pvt.Ltd.

Hemangini Marketing Pvt.Ltd.

Inflation Marketing Pvt.Ltd.

J.M.Thakker Developers Pvt.Ltd.

Jay-Jeet Marketing Pvt.Ltd.

Jeet Agricultural Pvt.Ltd.

M.R.Thakker & Co.Const.Pvt.Ltd.

Mahalaxmi Travels Pvt.Ltd.

Minimax Horticulture Pvt.Ltd.

Monarch Horticulture Pvt.Ltd.

Motel Kutir Nirman Pvt.Ltd.

Nakul Agriculture Pvt.Ltd.

Pooja Kutir Nirman Pvt.Ltd.

Pradip N.Mehta Inv.& Const.Pvt.Ltd.

Priya Marketing Pvt.Ltd.

Ragini Marketing Pvt.Ltd.

Rajendra M.Dev. & Build. Pvt.Ltd.

Roshan Agriculture Pvt.Ltd. Saptashrungi Marketing Pvt.Ltd.

Shivprit Marketing Pvt.Ltd.

Shubhakamana Build. Pvt.Ltd.

Shubhashani Construction Pvt.Ltd.

Sumangal Const.Pvt.Ltd.

Thakkers Apna Ghar Pvt.Ltd.

Thakkers Gruh Nirman Pvt.Ltd.

Thakkers Housing Dev.Pvt.Ltd.

Tilak Marketing Pvt.Ltd.

d) Director's and their relatives :

Thakker Abhishek N.

Thakker Gaurav J.

Thakker Hetal N.

Thakker Jitendra M.(HUF)

Thakker Karishma G.

Thakker Manjulaben M.

Thakker Narendra M.(HUF)

Thakker Nitu J.

Thakker Pooja R.

Thakker Poonam R.

Thakker Savitaben H.

Thakker Vidhi Narendra

3. The Company has not made provision for disputed Income Tax liabilities amounting to Rs.10,53,039/- on the basis of management perception this liabilities will not be materialized.

4. The Company is engaged in construction and estate dealing activity and as such in view of management it is not possible to give additional information as required by para 3(i) (a), 3(ii) (d), and 4C of Part II of Schedule VI of Companies Act,1956.

5. Borrowing costs for the year are in relation to working capital, not specificaly attributable to any project. Hence, the same are charged to the Profit & Loss A/c, as period cost.

6. No provision has been made for penal interest, if any, (amount unascertainable) payable as per agreements for delayed payment to Land Vendors. The same will be accounted as and when claimed, ascertained and settled.

7. From the records available with the company, the amount outstanding to small and micro industrial under takings for more than Rs.1.00 lakh for a period exceeding 30 days is not ascertainable.

8. In the opinion of Board, the current assets if realised in ordinary course of business will be at least of the value stated in the Balance Sheet. Provisions for all known liabilites are made in the accounts and are not in excess of amount considered necessary.

9. Debtors and Creditors are subject to confirmation.

10. Previous year's figures have been regrouped/recasted wherever considered necessary to confirm with current year's presentations of accounts.


Mar 31, 2013

1. Contingent liabilities not provided for

I) Claims against company not Nil Nil acknowledged as debts.

ii) Income Tax demands 13,43,787 11,98,020 disputed in appeal.

iii) Letters of credit issued by banks Nil Nil in favour of suppliers

2. The company has generally followed the accounting standards prescribed by the Institute of Chartered Accountants of India.

3. Deferred Tax liability/(asset) as on 31-3-2013 comprise of timing difference on account of:

4. RELATED PARTY TRANSACTION :

4.1 List of related party

4.1.1 Other parties with whom the Company has entered in to transaction during the year

a) Associates and Joint Ventures/ Partnership Firm :

Agro Farms

Khushal Farms

Pooja Farms

Shri Balaji Enterprises

Sky Farms

Model Activity

Shri Rachana Construction

b) Key Management Personnel:

Thakker Jitendra M. ThakkerRajendra M. ThakkerNarendraM. Thakker Nishant R.

c) Enterprises in which Key Management Personnel have significant influence:

Anmol Marketing Pvt.Ltd. Ashwashilp Agriculture Pvt.Ltd. Asian Food Products Ltd. BarsatAagriculture Pvt.Ltd. Dattatray Marketing Pvt.Ltd. Dhananjay Marketing Pvt.Ltd. Deacon Infrastructures Pvt.Ltd. Freedom Marketing Pvt.Ltd. Gaurav Developers Pvt.Ltd. Hemangini Marketing Pvt.Ltd. Jay-Jeet Marketing Pvt.Ltd. Mangal Garden Pvt.Ltd.

M.R.Thakker&Co.Const.Pvt.Ltd. Mahalaxmi Travels Pvt.Ltd. Motikamal Agriculture Pvt.Ltd. Pooja Kutir Nirman Pvt.Ltd. Rajendra M.Dev. & Build. Pvt. Ltd. Shubhakamana Build. Pvt. Ltd. Shubhashani Construction Pvt.Ltd. Thakker Kutir Nirman Pvt.Ltd. Thakkers Housing Dev.Pvt. Ltd. Thakkers Housing Pvt. Ltd. Yashodeep Marketing Pvt.Ltd.

d) Director''s and their relatives:

Thakker AbhishekN. Thakker AmitK. Thakker AshaJaman Thakker Bharati J. Thakker Gaurav J. Thakker HetalN. ThakkerJitendra M.(HUF) Thakker JyotiN. Thakker KanjiR. Thakker Ka vita Kanji

Thakker KarishmaG. Thakker Manjulaben M. Thakker Manohardas R. Thakker M.R.(HUF) Thakker Nitu J. Thakker N.M.(HUF) Thakker Pooja R. Thakker PoonamR. Thakker R.M.(HUF) Thakker Vidhi Narendra Thakker Savita ben H.

5. The Company has not made provision for disputed Income Tax liabilities amounting to Rs. 11,13,002/- on the basis of management perception this liabilities will not be materialized.

6. The Company is engaged in construction and estate dealing activity and as such i n view of management it is not possible to give additional information as required by para 3(i) (a), 3(ii) (d), and 4C of Part II of Schedule VI of Companies Act,1956.

7. Borrowing costs for the year are in relation to working capital, not specificaly attributable to any project. Hence, the same are charged to the Profit & Loss A/c, as period cost.

8. No provision has been made for penal interest, if any, (amount unascertainable) payable as per agreements for delayed payment to Land Vendors. The same will be accounted as and when claimed, ascertained and settled.

9. From the records available with the company, the amount outstanding to small and micro industrial under takings for more than Rs. 1.00 lakh for a period exceeding 30 days is not ascertainable.

10. In the opinion of Board, the current assets if realised in ordinary course of business will be at least of the value stated in the Balance Sheet. Provisions for all known liabilites are made in the accounts and are not in excess of amount considered necessary.

11. Debtors and Creditors are subject to confirmation.

12. Details of investment in partnershipfirm/AOP

13. Previous year''s figures have been regrouped/recasted wherever considered necessary to confirm with current year''s presentations of accounts.


Mar 31, 2012

Suppliers/Service providers covered under Micro, Small Medium Enterprises Development Act, 2006 have not furnished the information regarding filing of necessary memorandum with the appropriate authority. In view of this, information required to be disclosed u/s. 22 of the said Act is not given.

Mode of Valuation - Refer Notes to Accounts No. 14 (5)

Prior Period Item Includes the profit on sale of Land effected in the year 2009-10 but not recorded in the books. It was offered for the Purpose of Tax in the year 2009-10 only.

1. The company has generally followed the accounting standards prescribed by the Institute of Chartered Accountants of India.

2. Deferred Tax liability/(asset) as on 31-3-201 2 comprise of timing difference on account of:

3.1.1 Other parties with whom the Company has entered in to transaction during the year

4. The Company has not made provision for disputed Income Tax liabilities amounting to Rs. 14,80,559/- on the basis of management perception this liabilities will not be materialized.

5. The Company is engaged in construction and estate dealing activity and as such in view of management it is not possible to give additional information as required by para 3(i) (a), 3(ii) (d), and 4Cof Part II of Schedule VI of Companies Act, 1956.

6 Borrowing costs for the year are in relation to working capital, not specifically attributable to any project. Hence, the same are charged to the Profit & Loss A/c, as period cost.

7. No provision has been made for penal interest, if any, (amount unascertainable) payable as per agreements for delayed payment to Land Vendors. The same will be accounted as and when claimed, ascertained and settled.

8 From the records available with the company, the amount outstanding to small and micro industrial undertakings for more than Rs. 1.00 lakh for a period exceeding 30 days is not ascertainable.

9. In the opinion of Board, the current assets if realized in ordinary course of business will be at least of the value stated in the Balance Sheet. Provisions for all known liabilities are made in the accounts and are not in excess of amount considered necessary.

10. Previous year's figures have been regrouped/recanted wherever considered necessary to confirm with current year's presentations of accounts.


Mar 31, 2011

2010-2011 2009-2010

1. Contingent liabilities not provided for

i) Claims against company not Nil Nil acknowledged as debts.

ii) Income Tax demands 14,80,559 16,66,629 disputed in appeal.

iii) Letters of credit issued by banks Nil Nil in favour of suppliers

2. The company has generally followed the accounting standards prescribed by the Institute of Chartered

Accountants of India.

3. RELATED PARTY TRANSACTION

3.1 List of related party

3.1.1 Parties where control exists

Deacon Infrastructures Pvt.Ltd.

3.1.2 Other parties with whom the Company has entered in to transaction during the year

a) Associates and Joint Ventures/ Partnership Firm :

Model Activity

Shri Rachana Construction

Shri Balaji Enterprises

Agro Farms

Khushal Farms

Pooja Farms

Sky Farms

b) Key Management Personnel :

Thakker Jitendra M. Thakker Rajendra M. Thakker Narendra M.

c) Enterprises in which Key Management Personnel have significant influence :

Abhijit Marketing Pvt.Ltd. Abhilasha Horti. Pvt.Ltd. Abhishek Kutir Nirman Pvt.Ltd. Arundhati Marketing Pvt. Ltd. Asian Food Products Ltd. Ashish agriculture Pvt.Ltd. Dattatray Marketing Pvt.Ltd. Devprit Marketing Pvt. Ltd. Hemangini Marketing Pvt.Ltd. Jay-Jeet Marketing Pvt.Ltd. Jasmin Marketing Pvt.Ltd. Jeet Agriculture Pvt.Ltd.

Legend Pharmaceuticals Pvt.Ltd. M.R.Thakker & Co.Const.Pvt.Ltd. Nashik Marketing Pvt.Ltd. Panchavati Horticulture Pvt.Ltd. Rajendra M.Dev. & Build. Pvt. Ltd. Ramleela Marketing Pvt.Ltd. Shivprit Marketing Pvt.Ltd. Shubhakamana Build. Pvt. Ltd. Surbhi Horticulture Pvt.Ltd. Thakkers Housing Pvt. Ltd. Vichal Enterprises Pvt.Ltd. Yashodeep Marketing Pvt.Ltd.

d) Director's and their relatives :

Batavia Chetan G. Batavia Pallavi C. Thakker Abhishek N. Thakker Amit K. Thakker Asha Jaman Thakker Bharati J. Thakker Gaurav J. Thakker HetalN. Thakker Jyoti N. Thakker Giridharlal H. Thakker Karishma G.

Thakker Manjulaben M. Thakker Manohardas R. Thakker M.R.(HUF) Thakker N.M.(HUF) Thakker Nishant R. Thakker Pooja R. Thakker Poonam R. Thakker R.M.(HUF) Thakker Saroj G. Thakker Savitaben H.

4. The Company has not made provision for disputed Income Tax liabilities amounting to Rs.14,80,559/- on the basis of management perception this liabilities will not be materialized.

5. The Company is engaged in construction and estate dealing activity and as such in view of management it is not possible to give additional information as required by para 3(i) (a), 3(ii) (d), and 4C of Part II of Schedule VI of Companies Act,1956.

6. Borrowing costs for the year are in relation to working capital, not specificaly attributable to any project. Hence, the same are charged to the Profit & Loss A/c, as period cost.

7. No provision has been made for penal interest, if any, (amount unascertainable) payable as per agreements for delayed payment to Land Vendors. The same will be accounted as and when claimed, ascertained and settled.

8. From the records available with the company, the amount outstanding to small and micro industrial under takings for more than Rs. 1.00 lakh for a period exceeding 30 days is not ascertainable.

9. In the opinion of Board, the current assets if realised in ordinary course of business will be at least of the value stated in the Balance Sheet. Provisions for all known liabilites are made in the accounts and are not in excess of amount considered necessary.

10. Debtors and Creditors are subject to confirmation.

11. Previous year's figures have been regrouped/recasted wherever considered necessary to confirm with current year's presentations of Accounts.


Mar 31, 2010

2009-2010 2008-2009

1. Estimated amount of contracts remaining to Nil Nil be executed on capital account not provided

2. Contingent liabilities not provided for

i) Claims against company not Nil Nil

acknowledged as debts.

ii) Income Tax demands 16,66,629 16,66,629

disputed in appeal.

iii) Letters of credit issued by banks Nil Nil

in favour of suppliers

3. The company has raised certain working capital loans in the name of and on the security of personal properties of directors and relativies of directors.Those amount are utilised by the company for its working capital finance and amount outstanding as at 31-3-2010 in respect of such loan is 7,90,73,287 8,32,61,606

4. The company has generally followed the accounting standards prescribed by the Institute of Chartered Accountants of India.

5. RELATED PARTY TRANSACTION

5.1 List of related party

5.1.1 Parties where control exists

Deacon Infrastructures Pvt.Ltd.

5.1.2 Other parties with whom the Company has entered in to transaction during the year

a) Associates and Joint Ventures/ Partnership Firm :

Model Activity

Shri Rachana Construction

Shri Balaji Enterprises

b) Key Management Personnel :

Thakker Jitendra M.

Thakker Rajendra M.

Thakker Narendra M.

c) Enterprises in which Key Management Personnel have significant influence :

Abhijit Marketing Pvt.Ltd.

Abhilasha Horti. Pvt.Ltd.

Abhishek Kutir Nirman Pvt.Ltd.

Anmol Marketing Pvt.Ltd.

Arundhati Marketing Pvt.Ltd.

Ashish Agriculture Pvt.Ltd.

Asian Food Products Ltd.

Bholenath Farms Pvt.Ltd.

Dattatraya Marketing Pvt.Ltd.

Devprit Marketing Pvt. Ltd.

Dharmin Marketing Pvt.Ltd.

Durgawati Horticulture Pvt.Ltd.

Gaurav Developers Pvt.Ltd.

Hemangini Marketing Pvt.Ltd.

Intra Communication Pvt.Ltd.

J.M.Thakker Developers Pvt.Ltd.

Jay-Jeet Marketing Pvt.Ltd.

Kartik Farms Pvt.Ltd.

Kirit Farms Pvt.Ltd.

Krishnaleela Enter.Pvt.Ltd.

Legend Pharmaceuticals Pvt.Ltd.

Mahalaxmi Travels Pvt.Ltd.

M.R.Thakker & Co.Const.Pvt.Ltd.

Narrottam Marketing Pvt.Ltd.

Nitu Marketing Pvt.Ltd.

Paridhan Printers Pvt.Ltd.

Parvati Marketing Pvt.Ltd.

Radheya Farm Pvt. Ltd.

Rajendra M.Dev. & Build. Pvt. Ltd.

Rudraksha Builders Pvt.Ltd.

Shivprit Marketing Pvt.Ltd.

Shubhakamana Build. Pvt. Ltd.

Shubhashani Const. Pvt. Ltd.

SumangalConstruction Pvt.Ltd.

Thakkers Housing Pvt. Ltd.

Vishwas Farm Pvt. Ltd.

Vichal Enterprises Pvt.Ltd.

d) Directors and their relatives :

Batavia Chetan G.

BataviaChetanG(HUF)

Samani Usha Ashish

Thakker Abhishek N.

Thakker Asha Jaman

Thakker Bharati J.

Thakker Gaurav J.

Thakker HetalN.

Thakker Jyoti N.

Thakker Karishma G.

Thakker Manjulaben M.

Thakker M.R.(HUF)

Thakker N.M.(HUF)

Thakker Nishant R.

Thakker Nitu J.

Thakker Pooja R.

Thakker Poonam R.

Thakker R.M.(HUF)

Thakker Saroj G.

6. The Company has not made provision for disputed Income Tax liabilities amounting to Rs. 16,66,629/- on the basis of management perception this liabilities will not be materialized.

7. The Company is engaged in construction and estate dealing activity and as such in view of management it is not possible to give additional information as required by para 3(i) (a), 3(ii) (d), and 4C of Part II of Schedule VI of Companies Act,1956.

8. Borrowing costs for the year are in relation to working capital, not specificaly attributable to any project. Hence, the same are charged to the Profit & Loss A/c, as period cost.

9. No provision has been made for penal interest, if any, (amount unascertainable) payable as per agreements for delayed payment to Land Vendors. The same will be accounted as and when claimed, ascertained and settled.

10. From the records available with the company, the amount outstanding to small and micro industrial under takings for more than Rs.1.00 lakh for a period exceeding 30 days is not ascertainable.

11. In the opinion of Board, the current assets if realised in ordinary course of business will be at least of the value stated in the Balance Sheet. Provisions for all known liabilites are made in the accounts and are not in excess of amount considered necessary.

12. Debtors and Creditors are subject to confirmation.

13. Details of investment in partnership firm

14. Previous years figures have been regrouped/recasted wherever considered necessary to confirm with current years presentations of Accounts.

 
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