Mar 31, 2015
1. Debenture redemption - Public:
The Company during the year 2007-08 redeemed the entire balance
debentures of Rs. 152.41 lakhs of principal plus simple interest @ 14%
per annum up to and inclusive of 30th September 2007, as per the
approval accorded by the Debenture Holders at their Meeting held on
12.12.2007. The entire amount was paid into the Current account opened
with the State Bank of India, Chennai Main Branch on 14.12.2007.
Unclaimed Debentures aggregating to Rs. 87.02 lakhs was transferred to
Investor Education and protection fund on 07th January 2015.
2. Lease
The Company has given Land along with its Demised Premise Under Lease
for a Period of29Years to Apollo Hospitals Enterprises Limited which is
renewable at the option of lessee for a further period of 31 years the
Company has obtained Refundable interest free Deposit of Rs. 20 Crores.
Operating Lease Income aggregating to Rs. 432.15 Lakhs is shown under
Other Income.
The future minimum lease payments under non- cancellable operating
leases in the aggregate and for the each of the following periods:
3. Related Party Disclosure (As per Accounting Standard - 18)
The List of related parties as identified by the Company are as under
Key Management Personnel
1) Sri. R. P. Agrawal - Director
2) Sri. M. S. Meeramohideen - Director
Persons who have significant influence : Sri. P. Vijayakumar Reddy.
Entitles over which related party has Significant Influence : PPN
Holdings Limited
Remuneration paid to Key Management Personnel - Rs. 10.51Lakhs (9.34
lakhs.)
4. On consideration of Prudences Deferred Tax Asset has not been
created.
5. The Company had no outstanding dues that require to be furnished
under section 22 of "The Micro small and medium enterprises development
Act 2006.
6. CIF value of imports Nil
7. Earnings and Expenditure in Foreign currency Nil
8. Paise have been rounded off to the nearest Rupee.
9. Previous year's figures have been regrouped and rearranged wherever
necessary, to conform to current year's classification.
Mar 31, 2013
1. Exceptional Item:
Exceptional Item for the year ended 31.03.2013 comprises of Asset
written off on account of demolition of Building and related Electrical
items attached to it.
2. Debenture redemption - Public:
The Company during the year 2007-08 redeemed the entire balance
debentures of Rs. 152.41 lakhs of principal plus simple interest @ 14%
per annum up to and inclusive of 30th September 2007, as per the
approval accorded by the Debenture Holders at their Meeting held on
12.12.2007. The entire amount was paid into the Current account opened
with the State Bank of India, Chennai Main Branch on 14.12.2007.
Unclaimed Debentures as at 31.03.2013 amounting to Rs. 85.99 lakhs
(Previous year amounting to 86.41 lakhs) is reflected under current
liability and also under Bank Balance.
3. Lease
The Company has given Land along with its Demised Premise Under Lease
for a Period of 29 Years to Apollo Hospitals Enterprises Limited which
is renewable at the option of lessee for a further period of 31 years
the Company has obtained Refundable interest free Deposit of Rs. 20
Crores.
Operating Lease Income aggregating to Rs. 55 Lakhs is shown under
Rental Income.
4. Related Party Disclosure under Accounting Standard 18
The List of related parties as identified by the Company are as under
:- Key Management Personnel 1) Sri. R. P. Agrawal - Director
2) Sri. M. S. Meeramohideen - Director
Persons who have significant influence : Sri. P. Vijayakumar Reddy.
Entitles overwhich related party has
Significant Influence : PPN Holdings Limited
Remuneration paid to Key Management Personnel - Rs. 8.26 Lakhs (7.67
lakhs.)
5. On consideration of Prudences Deferred Tax Asset has not been
created.
6. The Company had no outstanding dues that require to be furnished
under section 22 of "The Micro small and medium enterprises development
Act 2006.
7. CIF value of imports Nil
8. Earnings and Expenditure in Foreign currency Nil
9. Paise have been rounded off to the nearest Rupee.
10. Previous year''s figures have been regrouped and rearranged
wherever necessary, to conform to current year''s classification.
Mar 31, 2012
1. Contingent Liabilities :
The Company has not made any provision towards Income Tax demand /under
dispute to the extent of Rs. Nil (previous year Rs. 14 lakhs) as the
Company has preferred appeals.
2. Debenture redemption - Public:
The Company during the year 2007-08 availed an Inter Corporate Loan of
Rs. 385 lakhs and redeemed the entire balance debentures of Rs. 152.41
lakhs of principal plus simple interest @ 14% per annum up to and
inclusive of 30th September 2007, as per the approval accorded by the
Debenture Holders at their Meeting held on 12.12.2007. The entire
amount was paid into the Current account opened with the State Bank of
India, Chennai Main Branch on 14.12.2007. Unclaimed Debentures as at
31.03.2012 amounting to Rs. 86.41 lakhs (Previous year amounting to
86.63 lakhs) is reflected under current liability and also under Bank
Balance.
3. The Company during the year continued to do job work to M/s MTL
Instruments (P) Ltd. Further the Company is planning to venture into
other activities. For the reasons stated above the accounts have been
prepared on "Principle applicable to Going Concern"
4. Related Party Disclosure under Accounting Standard 18
The List of related parties as identified by the Company are as
under:-
Key Management Personnel 1) Sri. K. Venkateswaran - Director
(Up to 31.03,2012)
2) Sri. M. S. Meeramohideen - Director
Persons who have significant influence : Sri. P. Vijayakumar Reddy.
Entitles over which related party has
Significant Influence : PPN Holdings Limited
Remuneration paid to Key Management Personnel - Rs. 7.67 Lakhs (7.41
lakhs.)
Other Related Party Transactions:
Particulars 2011-12 2010-11
Loans availed from PPN
Holdings Limited 23,79,20,853 23,82,40,853
5. The Company had no outstanding dues that require to be furnished
under section 22 of "The Micro small and medium enterprises development
Act 2006.
6. Paise have been rounded off to the nearest Rupee.
7. Previous year's figures have been regrouped and rearranged wherever
necessary, to conform to current year's classification.
Mar 31, 2011
1. Contingent Liabilities :
a) The Company has not made any provision towards Income Tax demand
/under dispute to the extent of Rs.14.00 lakhs (previous year Rs.28.88
lakhs) as the Company has preferred appeals.
2. Debenture redemption - Public:
The Company during the year 2007-08 availed an Inter Corporate Loan of
Rs. 385 lakhs and redeemed the entire balance debentures of Rs. 152.41
lakhs of principal plus simple interest @ 14% per annum up to and
inclusive of 30th September 2007, as per the approval accorded by the
Debenture Holders at their Meeting held on 12.12.2007. The entire
amount was paid into the Current account opened with the State Bank of
India, Chennai Main Branch on 14.12.2007. Unclaimed Debentures as at
31.03.2011 amounting to Rs. 86.63 lakhs (Previous year amounting to
87.10 lakhs) is reflected under current liability and also under Bank
Balance.
3. The Company during the year continued to do job work to M/s MTL
Instruments (P) Ltd. The Company expect that the quantum of work is
likely to pick up in the near future. Further the Company is planning
to venture into other activities. For the reasons stated above the
accounts have been prepared on "Principle applicable to Going Concern"
4. During the year, the Company has settled certain disputed Income
Tax Liability. Such Income Tax Liability aggregating to Rs. 25.84
lakhs is reflected as tax expenses relating to earlier years.
5. Related Party Disclosure under Accounting Standard 18
The List of related parties as identified by the Company are as under
:- Key Management Personnel
1) Sri. K. Venkateswaran - Director
2) Sri. M. S. Meeramohideen - Director
Persons who have significant influence : P. Vijayakumar Reddy.
Remuneration paid to Key Management Personnel - Rs. 7.41 Lakhs (6.29
lakhs.)
6. The entire operations of the Company relate to only one Segment,
viz. manufacturing of sub-assemblies on Contractual basis. Hence,
reporting Segment-wise Results does not arise.
7. The Company had no outstanding dues that require to be furnished
under section 22 of "The Micro small and medium enterprises development
Act 2006.
8. Paise have been rounded off to the nearest Rupee.
9. Previous year's figures have been re-arranged/re-grouped wherever
necessary, to conform to current year's classification.
Mar 31, 2010
1. Contingent Liabilities :
a) The Company has not made any provision towards Income Tax demand
/under dispute to the extent of Rs.28.88 lakhs (previous year Rs.28.88
lakhs) as the Company has preferred appeals.
2. Debenture redemption - Public:
The Company during the year 2007-08 availed an Inter Corporate Loan of
Rs. 385 lakhs and redeemed the entire balance debentures of Rs. 152.41
lakhs of principal plus simple interest @ 14% per annum up to and
inclusive of 30th September 2007, as per the approval accorded by the
Debenture Holders at their Meeting held on 12.12.2007. The entire
amount was paid into the Current account opened with the State Bank of
India, Chennai Main Branch on 14.12.2007. Unclaimed Debentures as at
31.03.2010 amounting to Rs. 87.10 lakhs (Previous year amounting to
91.34 lakhs) is reflected under current liability and also under Bank
Balance.
3. The Company during the year continued to do job work to M/s MTL
Instruments (P) Ltd. The Company expect that the quantum of work is
likely to pick up in the near future. Further the Company is planning
to venture into other activities. For the reasons stated above the
accounts have been prepared on ÃPrinciple applicable to Going ConcernÃ
4. During the year, the Company has got favourable orders in respect
of certain issues disputed before the Income Tax Appellate Tribunal,
Chennai and refund have been received amounting to Rs. 159.47 lakhs in
respect of the amount paid relating to earlier years. Out of the refund
received, interest received amounting to Rs. 58.91 lakhs is reflected
under other income.
5. Related Party Disclosure under Accounting Standard 18
The List of related parties as identified by the Company
are as under :-
Key Management Personnel
1) Sri. K. Venkateswaran - Director
2) Sri. M. S. Meeramohideen - Director
6. The entire operations of the Company relate to only one Segment,
viz. manufacturing of sub-assemblies on Contractual basis. Hence,
reporting Segment-wise Results does not arise.
7. The Company had no outstanding dues that require to be furnished
under section 22 of "The Micro small and medium enterprises development
Act 2006".
8. Paise have been rounded off to the nearest Rupee.
9. Previous years figures have been re-arranged/re-grouped wherever
necessary, to conform to current years classification.
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