Mar 31, 2014
1.1 The Company has only one class of Equity Shares having a par value
of Rs. 4 each. Each Shareholder of equity share is entitled to one vote
per share. The dividend proposed by the Board ofDirectors is subject to
the approval of shareholders. In the event of liquidation, the equity
shareholders are eligible to receive the remaining assets of the
company,after distribution of all preferential amounts, in proportion
to their shareholding.
2.A.1- The above loan is secured against movable and immovable
properties except book debts both present and future in respect of wind
power project and guaranteed by a director and 2 ex-director.
2.A.2- The company has not made any provision for interest amounting to
Rs.94.50 lac during the year on the above loan. The interest not
provided on Loan from REC including earlier years is Rs 1636.08 Lacs.
2.A.3- REC has filed a recovery suit against the company for recovery
of dues which is pending at the Court of Law. The Company has paid
Rs.200 lacs on the directives received from the court. The amount of
Rs 200 Lacs has been separately shown as advances under Loans &
Advances.
3.1 The company has valued the investment at cost against lower of
cost or market value of each script individually as required by
Accounting Standard 13 issued by Institute of Chartered Accountants
oflndia. However, the company has a provision ofRs.57097107 on account
of diminution in value of investment as per order of the Hon''ble
Calcutta High Court dated 10.08.05 out of which Rs 4,67,40,183/ is
utilisedt leaving a balance ofRs 10356924/. After giving effect the
investment are shown higher by Rs.463.41 Lacs (previous year Rs.393.42
Lacs).
(A) Key Managementpersonnel & relatives Name of the Related Party
1) Santosh Kumar Jain Managing Director
2) Hari Ram Agarwal Director
3) Tarak Nath Datta Director
4) Pranab Chakraborty Director
4. The Company has not made provision for Loss in value of inoperative
Wind Power Project in terms of Accounting Standard -28 (Impairment of
Assets) issued by ICAI
5. A. In the opinion of the Board of Directors, Current Assets, Loans
and Advances have a value on the realisation in the ordinary course
ofBusiness at least equal to amount at which they are stated in the
Balance Sheet.
B. Certain Debit and Credit Balances including Trade Receivables and
Payables, Bank Balances and Advances are subject to confirmation and
consequential reconcialtion thereof.
6. Previous year''s figures have been re-arranged and re-grouped
wherever necessary.
Mar 31, 2013
1. The Company has not made provision for Loss in value of
inoperative Wind Power Project in terms of Accounting Standard - 28
(Impairment of Assets) issued by ICAI.
2. A. In the opinion of the Board of Directors, Current Assets,
Loans and Advances have a value on the realisation in the ordinary
course of Business at least equal to amount at which they are stated in
the Balance Sheet.
3. Certain Debit and Credit Balances including Trade Receivables and
Payables, Bank Balances and Advances are subject to confirmation and
consequential reconcialtion thereof.
4. Previous year''s figures have been re-arranged and re-grouped
wherever necessary.
Mar 31, 2012
1.1 The Company has only one class of Equity Shares having a par value
of Rs. 4 each. Each Shareholder of equity share is entitled to one vote
per share. The dividend proposed by the Board of Directors is subject
to the approval of shareholders. In the event of liquidation, the
equity shareholders are eligible to receive the remaining assets of the
company, after distribution of all preferential amounts, in proportion
to their shareholding.
2.1-The above loan is secured against movable and immovable properties
except book debts both present and future in respect of wind power
project and guaranteed by a director and 2 ex-director.
2.2-The company has not made any provision for interest amounting to
Rs.94.50 lac during the year on the above loan. The interest not
provided on Loan from REC including earlier years is Rs. 1447.08 Lacs.
2.3- REC has filed a recover suit against the company for recovery of
dues which is pending at the Court of Law. The Company has paid Rs. 200
lacs during the year on the directives received from the Court.
3.1 The company has valued the investment at cost against lower of
cost or market value of each script individu- ally as required by
Accounting Standard 13 issued by Institute of Chartered Accountants of
India. However, the company has made a provision of Rs.57097107 on
account of diminution in value of investment as per order of the
Hon'ble Calcutta High Court dated 10.08.05. After giving effect the
investment are shown higher by Rs.491.76 Lacs (previous year Rs.232.05
Lacs).
4.1 Extra Ordinary items present the old liabilities paid towards
Telecast Fee.
(B) Enterprises over which above person has significant influence: Name
of the Related Party
1) Amluckie Investment Company Limited
(C) Transaction with the enterprise mention in (B) above:
5. The Company has not made provision for Loss in value of
inoperative Wind Power Project in terms of Accounting Standard - 28
(Impairment of Assets) issued by ICAI.
6. A. In the opinion of the Board of Directors, Current Assets,
Loans and Advances have a value on the
realisation in the ordinary course of Business at least equal to amount
at which they are stated in the Balance Sheet.
B. Certain Debit and Credit Balances including Trade Receivables and
Payables, Bank Balances and Advances are subject to confirmation and
consequential reconcialtion thereof.
7. Previous year's figures have been re-arranged and re-grouped
wherever necessary.
8. Till the year ended 31 st March 2011, the Company was using
Pre-Revised Schedule VI to the Companies Act, 1956 for the preparation
& presentation of its Financial Statements. During the year ended 31 st
March, 2012, the Revised Schedule VI notified under the Companies Act,
1956 has become applicable to the Com- pany. The Company has
reclassified previous year's figures to conform to this year's
classification. The adoption of Revised Schedule VI does not impact
recognition and measurement principles followed for prepa- ration of
financial statements. However, it significantly impacts presenattaion
and disclosures made in the fianancial statements, particularly
presenatation of Balance Sheet.
Mar 31, 2011
1. Estimated amount of contracts remaining to be executed on Capital
account Rs.NIL (Previous Year Rs. NIL).
2. Earning / Expenditure in Foreign Currency :
Earning NIL NIL
Expenditure NIL NIL
3. Extraordinary item of Rs. 15,00,000/- in Profit & Loss account
represent on repayment of written off liabilities.
4. The company has made no provision for interest accrued amounting to
Rs. 94.50 Lacs (Previous year Rs. 94.50 Lacs) as the matter is
Subjudice Before Hon'ble Debt Recovery Tribunal in respect of amount
payable to Rural Electrification Corporation (REC). The interest not
provided on loan from REC including earlier years is Rs. 1352.58 Lacs.
5. The company has valued the investments at cost against lower of
cost or market value of each script individually as required by
Accounting Standard 13 issued by Institute of Chartered Accountants of
India. However, the company has made a provision of Rs. 57097107 on
account of diminution in value of investments as per order of the
Hon'ble Calcutta High Court dated 10.08.05. After giving an effect the
investments are shown higher by Rs. 232.05 Lacs (Previous year Rs.
481.07 Lacs).
6. In the opinion of the Board of Directors, Current Assets, Loans &
Advances have a value on the realization in the ordinary course of
business at least equal to amount at which they are stated in the
Balance Sheet.
7. Certain Debit and Credit Balances including Sundry Debtors and
Creditors, Bank Balances and Advances are subject to confirmation and
consequential reconciliation thereof.
8. Related Parties Disclosures :
LIST OF RELATED PARTIES WITH WHOM TRANSACTIONS HAVE TAKEN PLACE AND
RELATIONSHIP :
(A) Key Management personnel & Relatives :
Name of the Related Party : Post Hold
1) Santosh Kumar Jain Managing Director
(B) Enterprises over which above person has significant influence :
Name of the Related Party
1) Amluckie Investment Company Limited
9. Consequent to mandatory Accounting Standard issued by ICAI on
accounting for taxes on income, the Company has recorded cumulative net
deferred tax liabilities of Rs. 1,09,10,469/-Till 31 st March, 2011.
Deferred tax adjustment for the year ended 31 st March, 2011 amount to
Rs. (3,22,88,881.00).
10. The Company has not made provision for loss in value of
inoperative Wind Power Project in terms of Accounting Standard - 28
(Impairment of Assets) issued by ICAI.
11. Figures in brackets represent previous year figures.
12. Previous Year's figures have been re-arranged and regrouped
wherever considered necessary so as to make them comparable with
figures of the year under consideration.
13. There are no outstanding dues to S S I units.
14. Information pursuant to Part IV of Schedule VI to the Companies
Act, 1956 has been given in Annexure -1
15. Schedules 1 to 21 annexed to herewith are forming part of the
Balance Sheet and Profit & Loss Account.
Mar 31, 2010
1. Estimated amount of contracts remaining to be executed on Capital
account Rs. NIL{P/Y Rs.NlL)
2. Extraordinary item of Rs. 1,70,236/- in Profit & Loss account
represent on repayment ot liabilities of Fixed Deposit
3. The company has made no provision for interest accrued amounting to
Rs. 94.50 Lacs (Previous year Rs. 94.50 Lacs} as the matter is
Subjudice Before Honble Debt Recovery Tabunal in respect of amount
payable to Rural Electrification Corporation (REC). The interest not
provided on loan from REC including earlier years laRs. 1,256.08 Lacs.
4. The company has valued the investments at cost against lower of
cost or market value of each script individually as required by
Accounting Standard 13 Issued by Institute of Chartered Accountants of
India. However, the company has made a provision of Rs, 5,70,87,107/-
on account of diminution In value of Investments as per order of the
Honble Caloutta High Court dated 10.08.05 After giving an affect the
investments are shown higher by Rs.481.07 Lacs (Previous year Rs.
298.82 Lacs)
5. In the opinion of the Board of Directors, Current Assets, Loans &
Advances have a value on the realization In the ordinary course of
business at least equal to amount at which they are stated in the
Balance Sheet.
6. Certain Debit and Credit Balances including Sundry Debtors and
Creditors. Bank Balances and Advances are subjecl to confirmation and
consequential reconciliation thereof.
7. Related Parties Disclosures
List of Related Parties With Whom Transactions Have Taken Place And
Relationship
(A) Key Management personnel & Relatives
Name of the Related Party Post Hold
1) Santosh Kumar Jain Managing Director
(B) Enterprises over which above person has significant Influence Name
of the Related Party
1) Amluckje Investment Limited
2) Silicon Valley Info tech Limited
8. Consequent To mandatory Accounrlng Standard Issued by ICAI on
accounting for taxes on income, the Company has recorded cumulative net
deferred tax liabilities of Rs. 1,41,39,350/- till 31st March, 2010.
Deferred tax adjustment for the year ended 31 st March. 2010 amount to
Rs. 92,05,599/-.
9. The Company has nol made provision for loss in valueof inoperative
Wind Power Praied in terms of Accounting Standard -28 (Impairment of
Assets) issued by lCAI.
10, Figures in brackets represent previous year figures,
11, Previous Years figures have been re-arranged and regrouped wherever
considered necessary so as to make them comparable with figures Of the
year under consideration,
12. There are no outstanding dues to SS I unite.
13. Information pursuant to Part IV of Schedule VI lo the Companies
Act, 1956 has been given in Anrtevure - 1.
14. Schedules 1 lo 21 annexed lo herewith are forming partotihe
Balance Sheet and ProfilS Loss Account.