NOTE 1
In the opinion of the management, Current Assets, Loans and Advances are of the valued stated, if realized in the ordinary course of business.
NOTE 2
SEGMENT REPORTING
The Company is predominantly in the business of providing "Project Management Consultancy Services" and, as such there are no separate reportable segments. The company's operations are only in India.
NOTE 3
RELATED PARTY DISCLOSURES
A. List of Related parties:
(As certified by the Management)
I. Subsidiary
Artefact Infrastructure Limited (up to January 02nd, 2017)
II. Joint Ventures
Zaidun Leeng Sdn. Bhd. - Artefact Projects
Sheladia Associates Inc. - Artefact Projects - Zaidun Leeng Sdn. Bhd.
Meinhardt Singapore Pte. Ltd. - Artefact Projects (Dissolution pending as on 31.03.2017)
III. Key Management Personnel (KMP) and their Relatives
Mr. Pankaj B Shah
Mr. Siddharth P Shah
Miss. Ankita M Shah
Mr. Manoj B Shah
Mr. Chetan B Shah
Mrs. Madhavi Manoj Shah
Mr. Anshul Manoj Shah
Mr. Sanjay M Khare - Chief Financial Officer
Miss. Shilpa A Bhargava - Company Secretary
IV. Enterprises in which key managerial personnel and their relatives are able to exercise significant influence with whom transactions have taken place during the year:
(Other related parties)
a) Artefact Towers Association
b) Artefact Infrastructure Limited (w.e.f. January 2nd, 2017)
c) Alpine Mining Infra LLP
(ii) The Company's share in the total value of the assets and liabilities as at 31* March, 2017 is K 51,951,718 (Previous year K 55,408,060) and K 44,272,051 (Previous Year K 51,134,370) respectively and in the income, expenditure and net profit/ ( Loss) before tax for the year ended 31"t March, 2017 of the above Joint Ventures amounts to K 14,022,228 (Previous Year K 22,329), K 13,839,193 (Previous Year K 1,030,907) and K 183,035 (Previous Year (K 1,008,578) respectively. The figures have been incorporated based on the audited financial statements received from the jointly controlled operations.
NOTE 4
In accordance with Regulation 34(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 the details of advance given are as under:
a. To Artefact Infrastructure Limited (AIL), closing balance as on 31st March, 2017 is K 90,891,699 (Previous year K 136,653,070). Maximum balance outstanding during the year was K 169,404,651 (Previous year K 137,193,645).
b. As per the Company’s policy loans to employees are not considered in ‘a’ above.
NOTE 5
Previous Year's figures have been reworked /regrouped / rearranged / reclassified wherever necessary to make them comparable with those of current year.
NOTE 6
The Company has not entered into any derivative contracts and accordingly there are no outstanding derivative contracts as on 31st March, 2017. The Company does not have any foreign currency exposure as on 31st March, 2017.
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