| Corporate Information
Anand Projects Limited ('the Company') is a public limited Company
domicited in India. Its shares are listed on one stock exchange in
India. The Company is engaged in Engineering, Procurment and
Construction related activities which are project specific.
1. SHARE CAPITAL
(i) There is no change in the share capital during the current and
preceding year.
(ii) Terms/Rights of equity shares:-
The company has one class of equity shares having par value of Rs.
10/- per share. All equity shares are ranking pari passu in all
respects including dividend. In the event of liquidation of the
company, the holders of the equity share will be entitled to receive
the realised value of the assets of the Company, remaining after
payment of all preferential dues. The distribution will be in
proportion to the number of equity shares held by the shareholders.
(iii) 8,82,385 Equity Shares of Re. 10 each were allotted during the
year ended March 31, 2012 as fully paid bonus shares by capitalization
of capital redemption reserve and general reserves of the Company.
2. Fixed Assets
2(i) Computers costing Rs. 4,72,000 (Accumulated Depreciation Rs.
4,72,000 have been removed from fixed asstes register as physically
discarded.
2(ii) Depreciation of Rs. 20,033 and deffered tax Rs. 6809 (adjustment
net of tax Rs. 13, 224) have been charge to opening balances of
reserves, pursuant to the transaction provision provided in 7(b) os
Schedule II of the Companies Act, 2013. Refer note 27 for detail.
3. Contingent Liabilities and Commitments
As at 31st As at 31st
March, 2015 March, 2014
Rs. Rs.
(i) Contingent Liabilities
(a) Computer has given performance
coporate guarantee in favour of
M/s Lalitpur Power Generation
Company Ltd for performance
of the contract awarded 2,100,000,000 7,870,000
(b) Bank Guarantee given to Sales Tax
Department 500,000 500,000
(c) Tax liability imposed by assistant
commissioner of income tax for
assessment year 2012-13 an appeal
has been filed against the said
order to the Comissioner of
income tex (Appeals) 205,486,630 -
(d) Claims against the Company not
acknowledged as debts 6,133,964 -
(ii) Commitments
Estimated value of Contracts
remaining to be
executed on capital account and
not provided
for (net of advances): Nil Nil
4. Disclosure as required by Accounting Standard 19 "Leases", are as
below:
(i) The Company has taken various commercial space under cancellable
operating leases. These lease agreements are for 11 month period and
normally renewed on expiry of lease term. There are no
exceptional/restictive convenants in the lease agreements.
(ii) Lease rent debited to statement of profit and loss is Rs. 110,
13,277 (Previous Year: Rs. 77,77,933).
5. Segment Reporting
The Company is operating into only one business segment i.e. EPC
Contracts and only one geographical segment i.e. India, the disclosure
requirements of the Accounting Standards (AS) 17 "Segment Reporting"
as notified under section 133 of the Companies Act 2013, read together
with paragraph 7 of the Companies (Accounts) Rules, 2014 are not
applicable. However, it does not have any impact on the true and fair
view of the state of affairs in case of Balance Sheet and Statement of
Profit and Loss.
6. Pursuant to the enactment of Companies Act 2013, the company has
applied the estimated useful lives as specified in Schedule II.
Accordingly the unmortised carrying value is being
depreciiated/amortised over the revised/remaining useful lives. The
written down value of Fixed Assrts whose lives have expired as at 1st
April 2014 have been adjusted net of tax, in the opening balance of
statement of Profit and Loss amounting to Rs. 13,224.
7. Previous years' figures have been regrouped re rearranged wherever
necessary.
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