Mar 31, 2015
NOTE N0 1 : GENERAL INFORMATION
The company is incorporated in the year 1979 under the Indian Companies
Act, 1956. The company is engaged in the business of infrastruture
development.
NOTE NO 2
(1) The Company had in the past revalued the land admeasuaring 8.65
acres situated at gut no 64/2, 63,62/3, Itkheda Paithan Road,
Aurangabad. The corresponding value of Rs. 25,61,37,775 representing
such upward revision has been shown as revaluation reserve under the
head "Reserves & Surplus".
(2) Pursuant to the notificationof Schedule II of the Companies Act,
2013, (the Act) by the Ministry of Corporate Affairs effective from
01.04.2014, the management has internallyreassessed based upon the
technicalevaluationand change, wherever necessary, the use ful life to
compute depreciationto confirmthe requirementof the Act.
Accordingly,the carrying amount as at 01.04.2014 is being depreciated
over the revised useful life of the assets.
NOTE 3
Contingent Liabilities not proivided for in respect of
Particulars Current Year Previous Year
(Rs) (Rs.)
a) Arrears of Dividend on Cumulative 26,972,993 25,557,616
Redeemable preference shares
(including Corporate Dividend Tax)
b) Penalty in respect of income tax
assessment completed for assesment
year 2001-02 and 2003-04 (net of
deposit of Rs. 1,42,00,000; Previous 162,813,562 175,013,562
year 30,00,000) which is being
constested in appeal
before Commissioner of Income Tax
(Appeal) by the Company.
NOTE 4
In the opinion of the Board, Current Assets, Loans and Advances are
approximately of the value stated, if realised in the ordinary course
of the business.
NOTE 5
The accounts including detailed transactions of Creditors, Unsecured
Loans, Loans and Advances are subject to confirmations and
reconciliations. The difference as may be noticed on reconciliation
will be accounted for on completion thereof. In the opinion of the
management, the ultimate difference will not be material.
NOTE 6
In view of huge carried forward unabsorbed depreciation, the management
has, as the matter of prudence, not recognized deferred tax assets
during the year.
NOTE 7
The operations of the company have continued to be suspended during the
year. The accumulated losses of the Company have exceeded its net worth
excluding revaluation reserve, however, the accounts have been prepared
on a going concern basis in veiw of the real estate activity planned in
the near future.
NOTE 8
Related parties disclosure as per Accounting Standard - 18:
a) List of related parties
i) Associates:-
1 Agri Tech (India) Ltd.
ii) Key Management Personnel:-
Mr. Satish Kagliwal (Managing Director)
NOTE 9
Previous year's figures have been regrouped / rearranged wherever
necessary to conform to the current year's presentation.
Mar 31, 2014
NOTE 1
In the opinion of the Board, Current Assets, Loans and Advances are
approximately of the value stated, if realised in the ordinary course
of the business.
NOTE 2
The accounts including detailed transactions of certain Creditors,
Unsecured Loans, Loans and Advances are subject to confirmations and
reconciliations. The difference as may be noticed on reconciliation
will be accounted for on completion thereof. In the opinion of the
management, the ultimate difference will not be material.
NOTE 3
In view of the carried forward unabsorbed depreciation, the management
has, as the matter of prudence, not recognized deferred tax assets
during the year.
NOTE 4
Related parties disclosure as per Accounting Standard - 18:
a) List of related parties
i) Associates:-
Agri Tech (India) Ltd. 1
Nath Bio-Genes Ltd. 2
Nath Biotechologies Ltd 3
ii) Key Management Personnel:-
Mr. Satish Kagliwal (Whole time Director)
NOTE 5
Previous year''s figures have been regrouped / rearranged wherever
necessary to conform to the current year''s presentation.
Mar 31, 2013
NOTE 1
Contingent Liabilities not proivided for in respect of
Current Year Previous Year
Particulars (Rs.) (Rs.)
a) Arrears of Dividend on
Cumulative Redeemable preference
shares (including Corporate
Dividend Tax) 2,41,59,383 2,27,61,150
b) Amount of interest liability /
penalty / liquidated damages, if any
on delayed / non-payment of certain Amount Amount
creditors / loans (secured or
unsecured) / statutory dues. Unascertainable Unascertainable
c) Amount of penalty in respect
of assessment completed for assesment
year 2001-02 and 2003-04 earlier
year. (net of advances of Rs.
20,00,000) which is being
constested by the Company. 17,50,13,562 Nil
NOTE 2
In the opinion of the Board, Current Assets, Loans and Advances are
approximately of the value stated, if realised in the ordinary course
of the business.
NOTE 3
The accounts including detailed transactions of Creditors, Debtors,
Unsecured Loans, Deposits, Loans and Advances are subject to
confirmations and reconciliations. The difference as may be noticed on
reconciliation will be accounted for on completion thereof. In the
opinion of the management, the ultimate difference will not be
material.
NOTE 4
No provision for the Income Tax and Minimum Alternate Tax for the year
has been considered necessary in view of the unabsorbed depreciation
and carried forward losses.
NOTE 5
In view of the carried forward unabsorbed depreciation, the management
has, as the matter of prudence, not recognized deferred tax assets
during the year.
NOTE 6
Related parties disclosure as per Accounting Standard - 18:
a) List of related parties
i) Associates:-
1 Agri Tech (India) Ltd.
2 Global Transgenetics Ltd
3 Nath Bio-Genes Ltd.
4 Nath Biotechologies Ltd
ii) Key Management Personnel:-
Mr. Satish Kagliwal (Whole time Director)
NOTE 7
Previous year''s figures have been regrouped / rearranged wherever
necessary to conform to the current year''s presentation.
Mar 31, 2012
NOTES- 1
Contingent Liabilities not proivided for in respect of
Current Year Previous Year
Particulars (Rs) (Rs.)
a) Arrears of Dividend on Cumulative
Redeemable preference shares
(including Corporate Dividend Tax) 22,761,150 19,964,684
b) Amount of interest liability /
penalty / liquidated damages, if any
on delayed / non-payment of certain Amount Amount
creditors / loans (secured or
unsecured) / statutory dues. Unas
certainable Unascertainable
NOTES- 2
In the opinion of the Board, Current Assets, Loans and Advances are
approximately of the value stated, if realised in the ordinary course
of the business.
NOTES- 3
The accounts of certain Creditors, Unsecured Loans, certain current
account balances with banks, Deposits, Loans and Advances are subject
to confirmations and reconciliations, if any. The difference as may be
noticed on reconciliation will be accounted for on completion thereof.
In the opinion of the management, the ultimate difference will not be
material.
NOTES- 4
No provision for the Income Tax for the year has been considered
necessary in view of the unabsorbed depreciation and carried forward
losses.
NOTES- 5
In view of the carried forward business losses, the management has, as
the matter of prudence, not recognized deferred tax assets during the
year.
NOTES- 6
Related parties disclosure as per Accounting Standard - 18:
a) List of related parties
i) Associates:-
1 Agri Tech (India) Ltd.
2 Global Transgenetics Ltd
3 Nath Industrial Chemicals Ltd.
4 Nath Bio-Genes Ltd.
5 Rama Pulp & Papers Ltd
6 Nath Securities Ltd
7 Nath Biotech Ltd
8 Nath Royal Ltd
ii) Key Management Personnel:-
Mr. Satish Kagliwal (Whole time Director)
NOTES- 7
Previous year's figures have been regrouped / rearranged wherever
necessary to conform to the current year's presentation
Mar 31, 2010
Current Year Prev Year
Particulars
(Rs) (Rs.)
Contingent liabilities not provided
for in respect of disputed demand
in the matters of Income Tax
1 a) 28,158,193 28,158,193
including interest
Arrears of Dividend on Cumulative
Redeemable preference shares
(including Corporate Dividend
b) 19,964,684 18,557,187
Tax)
Amount of interest liability /
penalty / liquidated damages,
if any on
delayed / non-payment of certain Amount Amount
c) creditors / loans (secured or
unsecured) / statutory dues.
Unascertainab Unascertainabl
le e
Liabilities and other obligations
related to seed business and
Corporate farming division which
has Amount Amount
d) been transferred to the
transferee companies
viz. Nath Biogenes
(India) Ltd and Agritech
(India) Ltd. Unascertainab Unascertainabl
le e
2006.
2 Segmental Reporting : -
Criteria Segment
Product base 1. Seed
2. Land
Customer base Domestic market /
overseas market
Geographical Area of Operation Domestic market /
overseas market
3 Related parties disclosure as per Accounting Standard - 18:
a) List of related parties
i) Associates:-
Nath Pulp & Paper Mills Ltd.
Nath Industrial Chemicals Ltd.
Nath Capital & Financial Services Ltd.
Global Transgenetics Ltd
Nath Bio-gene Ltd.
Mayo (India) Ltd
Nath Securities Ltd
Agri Tech (India) Ltd.
Rama Pulp & Papers Ltd
Nath Biotech Ltd
Nath Royal Ltd
ii) Key Management Personnel:-
Mr. Satish Kagliwal (Whole time Director)
4 Particulars of Licensed and Installed Capacities and Production (As
certified by the Management) The company does not have any
manufacturing plant/ processing center, therefore, the information
regarding licensed, installed a) capacity and production data have not
been given.
5 Previous years figures have been regrouped / rearranged wherever
necessary to conform to the current years presentation.
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article