Mar 31, 2014
1. Accounting Period
The period of accounts under review is from April 1, 2013 to March 31,
2014 for Gemmia Oiltech (India) Limited.
2. Employee Benefits
The payment of gratuity and leave encashment is recognized on actuarial
valuation as at the end of the reporting period.
3. Earning per share
The Company has incurred loss of Rs. 1,52,99,044/- and hence, EPS is
not determined.
4. Remuneration to Managing Director
During the year company has not paid any remuneration to the directors
5. Contingent Liability
The Company has entered into One Time Settlement (OTS) arrangement with
four of its bankers. There are delays in the payment of installments as
envisaged in these OTS arrangements. In case, the bankers annul the OTS
arrangements citing non compliance with the OTS terms, the liability of
the company may go up which at present is not quantifiable.
6. Managerial Assertions
No amount is due to Small Scale Ancillary Industrial Undertakings.
Debit and Credit balances are subject to confirmation or
reconciliation. Expenditure incurred on employees in receipt of
remuneration of not less than Rs. 24 lakhs per annum, where employed
throughout the period or not less than Rs. 2 lakh per month, where
employed for a part of the period is NIL.
7. Additional Information pursuant to Part II of Schedule VI of the
Companies Act, 1956:
The company had not undertaken any trading in tangible goods in this
year. Hence, providing quantitative particulars does not arise.
8. Rounding off Figures have been rounded off to the nearest rupee.
9. Regrouping
Previous year figures have been regrouped / reclassified wherever
necessary.
Mar 31, 2013
1.1 Accounting Period
The period of accounts under review is from April 1, 2012 to March 31,
2013 for Gemmia Oiltech (India) Limited and its Subsidiaries.
1.2 Capital Reserve
Consequent to OTS from during the year, a sum of Rs. 262.50 Lacs
principal due is being transferred to capital reserve from other
current liabilities, and waiver in interest on loans of Rs.62.99 Lacs
has credited as other income in Profit and Loss account.
1.3 Employee Benefits
The payment of gratuity and leave encashment is recognized on actuarial
valuation as at the end of the reporting period.
1.4 Remuneration to Managing Director
During the year company has not paid any remuneration to the directors.
1.5 Contingent Liability
The Company has entered into One Time Settlement (OTS) arrangement with
three of its bankers. There are delays in the payment of installments
as envisaged in these OTS arrangements. In case, the bankers annul the
OTS arrangements citing non compliance with the OTS terms, the
liability of the company may go up which at present is not
quantifiable.
1.6 Managerial Assertions
No amount is due to Small Scale Ancillary Industrial Undertakings.
Debit and Credit balances are subject to confirmation or
reconciliation. Expenditure incurred on employees in receipt of
remuneration of not less than Rs. 24 lakhs per annum, where employed
throughout the period or not less than Rs. 2 lakh per month, where
employed for a part of the period is NIL.
1.7 Additional Information pursuant to Part II of Schedule VI of the
Companies Act, 1956:
The company had not undertaken any trading in tangible goods in this
year. Hence, providing quantitative particulars does not arise.
1.8 Rounding off
Figures have been rounded off to the nearest rupee.
1.9 Regrouping
Previous year figures have been regrouped / reclassified wherever
necessary.
Mar 31, 2011
1. Accounting Period
The period of accounts under review is from April 1. 2010 to March 31.
2011 for Ram Kaashyap Investment Limited and its Subsidiaries from
April 1. 2010 to March 31. 2011.
2. Employee Benefits
The payment of gratuity and leave encashment are recognized based on
actuarial valuation as on 31.03.2011
3. Investments
Long Term Investments are stated at cost. There had been no diminution
in the value of long term investments.
4. Loans
Secured Loans are represented by hire purchase dues against
hypothecation of specific assets of the company.
5. Related Parties
As per the Accounting standards (AS 18)"Related Party Disclosure" as
referred to in Accounting standard rules. the disclosure of
transactions with the related parties as defined therein are given
below:
6. Impairment of Assets
An asset is impaired when the carrying amount of assets exceeds its
recoverable amount. The company has reviewed the carrying amount of
assets at each Balance sheet date and found that there is no indication
for impairment of assets.
The maximum permissible remuneration as per Section 198 of the
Companies Act shall not exceed 11% of Net profits calculated under
Section 349 and 350 of the Companies Act. The maximum permissible
remuneration as per the available profits calculated above is
Rs.11.07.478/-. Managerial Remuneration charged Rs.9.00.000/- during
the year.
7. Disclosures under Listing Agreement
As required by the amendment to Clause 32 of the listing agreement vide
SEBI circular no. 2 / 2003 of 10thJanuary. 2003. the following
disclosure has been made.
Loans and advances:
i) Loan to Subsidiaries:
Refer Point 5 of Notes to Accounts
ii) Loan to Associates : NIL
iii) Non-charging of Interest: Nil
iv) Loan to Firms / Companies in which directors are interested:
Refer Point 5 of Notes to Accounts
v) Investments by the Loan in the shares of the Company as on March
31. 2011: Nil
8. Contingent Liability
The Company has entered into One Time Settlement (OTS) arrangement with
three of its banker. There are delays in the payment of instalments as
envisaged in these OTS arrangements. In case. the bankers annul the OTS
arrangements citing non compliance with the OTS terms. the liability of
the company may go up which at present is not quantifiable.
9. Managerial Assertions
I. No amount is due to Small Scale Ancillary Industrial Undertakings.
II. Debit and Credit balances are subject to confirmation or
reconciliation.
III. Expenditure incurred on employees in receipt of remuneration of
not less than Rs.24 lakhs per annum. where employed throughout the
period or not less than Rs.2 lakhs per month. where employed for a part
of the period is NIL.
10. Additional Information pursuant to Part II of Schedule VI of the
Companies Act. 1956:
The company had not undertaken any trading in tangible goods in this
year. Hence. providing quantitative particulars does not arise.
11. Figures have been rounded off to the nearest rupee.
Mar 31, 2010
1. Accounting Period
The period of accounts under review is from April 1, 2009 to March 31,
2010 for Ram Kaashyap Investment Limited and its Subsidiaries from
January 1, 2010 to March 31, 2010.
2. Acquisition of shares
The company has acquired 100% shares in Pix Aalaya Studios Pvt Ltd for
a consideration of Rs. 1,65,00,000/- by allotment of 11,00,000 equity
shares of the company at Re. 10/- with a Premium of Rs. 5/- each to the
shareholders of Pix Aalaya Studios Pvt Ltd.
Also, the company has acquired 100% shares in Tamil Box Office (India)
Pvt Ltd for a consideration of Rs. 1,95,00,000/- which is settled by
allotment of 13,00,000 equity shares of the company at Re. 10/- with a
Premium of Rs. 5/- each to the shareholders of Tamil Box Office (India)
Pvt Ltd.
3. Share Capital
During the year, the company re-classified its authorised shares and
increased its authorised share capital from Rs. 25.00.00.000/- to Rs.
50,00,00,000/- During the year, the Company raised fresh equity capital
of Rs. 3,00,00,000/- by way of
(i) Issue of 24,00,000 equity shares under preferential allotment as
referred in Point (2) for Rs. 10/- each with a premium of Rs. 5/- each.
(ii) Issue of 6,00,000 equity shares under preferential allotment for
Rs. 10/- each with a premium of Rs. 5/- each.
4. Employee Benefits
The payment of gratuity and leave encashment are recognized based on
actuarial valuation as on 31.03.2010
5. Investments
Long Term Investments are stated at cost. There had been no diminution
in the value of long term investments.
6. Loans
i) The Company had borrowed an amount of Rs. 2,00,00,000/- from Bank of
Baroda. Due to financial crisis, the company was not able to fulfill
its commitments. Therefore, the company entered into a One Time
Settlement with the Bank of Baroda in September 2009 and the same was
accepted by the bank. Based on bank acceptance on 24th September 2009,
the company has written off Rs. 1,25,00,000/- towards principal and Rs.
35,99,863/- towards interest. The write back of Rs. 1,25,00,000/-
towards principal is treated as capital reserve.
ii) The Company had borrowed an amount of Rs. 1,60,00,000/- from State
Bank of Hyderabad. Due to financial crisis, the company was not able to
fulfill its commitments. Therefore, the company entered into a One Time
Settlement with the State Bank of Hyderabad in December 2009 and the
same was accepted by the bank. Based on bank acceptance on 30th
December 2009, the company has written off Rs. 1,20,00,000/- towards
principal and Rs. 28,79,890/- towards interest. The write back of Rs.
1,20,00,000/- towards principal is treated as capital reserve.
iii) Secured Loans are represented by hire purchase dues against
hypothecation of specific assets of the company.
7. Impairment of Assets
An asset is impaired when the carrying amount of assets exceeds its
recoverable amount. The company has reviewed the carrying amount of
assets at each Balance sheet date and found that there is no indication
for impairment of assets.
8. Disclosures under Listing Agreement
As required by the amendment to Clause 32 of the listing agreement vide
SEBI circular no. 2 / 2003 of 10thJanuary, 2003, the following
disclosure has been made.
Loans and advances:
i) Loan to Subsidiaries: Nil
ii) Loan to Associates : NIL
iii) Non-charging of interest: Nil
iv) Loan to Firms / Companies in which directors are interested: Refer
Point 7 of Notes to Accounts
v) Investments by the Loanee in the shares of the Company as on 31st
March 2010 : Nil
9. Contingent Liability
The Company has entered into One Time Settlement (OTS) arrangement with
three of its bankers. There are delays in the payment of installments
as envisaged in these OTS arrangements. In case, the bankers annul the
OTS arrangements citing non compliance with the OTS terms, the
liability of the company may go up which at present is not
quantifiable.
10. Managerial Assertions
I. No amount is due to Small Scale Ancillary Industrial Undertakings.
II. Debit and Credit balances are subject to confirmation or
reconciliation.
III. Expenditure incurred on employees in receipt of remuneration of
not less than Rs. 24 lakhs per annum, where employed throughout the
period or not less than Rs. 2 lakh per month, where employed for a part
of the period is NIL.
11. Additional Information pursuant to Part II of Schedule VI of the
Companies Act, 1956:
The company had not undertaken any trading in tangible goods in this
year. Hence, providing quantitative particulars does not arise.
12. Figures have been rounded off to the nearest rupee.
13. Previous year figures have been regrouped / reclassified wherever
necessary.
Mar 31, 2009
1. Accounting Period
The period of accounts under review is for 12 months.
2. Share Capital
During the year, the Company raised fresh equity capital of Rs.
39,00,000/- by issue of 3,90,000 equity shares of Rs.10/- each on a
preferential basis.
3. Inventories
The Company does not carry any inventory as on the balance sheet date.
4. Employee Benefits
Payment of Gratuity has not arisen and therefore not recognized in the
account.
5. Loans
i) Secured Loans include a sum of Rs. 9,77,79,461/- (Rs. 9,77,79,461/-
as in the previous year) under hire purchase dues against hypothecation
of specific assets of the company.
6. Disclosures under Listing Agreement
As required by the amendment to Clause 32 of the listing agreement vide
SEBI circular no. 2 / 2003 of lO^January, 2003, the following
disclosure has been made:
Loans and advances
Loan to Subsidiaries : NIL
Loan to Associates : NIL
Non-charging of interest : NIL
Loan to Firms / Companies in which
Directors are interested : Refer Point 7 of Notes to
Accounts
Investments by the Loanee in the
shares of the Company as on
31st March 2009 : NIL
7. Provision for Taxation including Fringe Benefit Tax: Rs. 99,373/-.
8. No Remuneration or sitting Fees has been paid to any Directors.
9. Figures have been rounded off to the nearest rupee.
10. Previous year figures have been regrouped / reclassified wherever
necessary.