1 The company has converted from a Private limited company to a Public limited company along with change of name of the company from Nachas Wind Energy Private Limited to KKV Agro Powers Limited vide fresh Certificate of Incorporation given by the Ministry of Corporate Affairs on 18-05-2015.
2. (i) List of Related Parties with whom transactions have taken place during the year 2015-16 and 2014-15 and relationship.(As identified by the management and relied upon by Auditors)
(a) Holding Company:
NIL
(b) Key Management Personnel:
- Mr.T.K.Chandiran
- Ms.C.Selvi
- Mr.A.C.Vineeth Kumar
(c) Others: (Enterprise over which Key Management Personnel are able to exercise significant influence)
- The KTM Jewellery Limited
- Space Textiles Private Limited
- KKV Gold N Retail Limited
- SCM Global Brands Private Limited
3. Disclosure under Accounting Standard 15:
Description of the Company's defined benefit plan:
The company operates a defined benefit plan for payment of post employment benefits in the form of gratuity. Benefits under the plan are based on pay and years of service and vested on completion of five years of service, as provided in the Payment of Gratuity Act, 1972. The terms of benefits are common for all the employees of the company.
4. Segment Information:
- The company operates under only one segment viz. business of generation and sale of electricity.
5. The Company has recognized deferred tax asset in line with the requirements of AS-22. Deferred tax asset has been recognized on unabsorbed depreciation and carry forward of business losses under tax laws to the extent that there is virtual certainty supported by power purchase agreement entered into by the Company for sale of wind and solar power.
6. Inventory represents Renewable Energy Certificates (REC) held for sale which is valued at Cost or Net realizable value whichever is lower.
7. Post the Balance sheet date, the company had made a public issue of 1, 12,000 Equity shares of face value of ' 10 each at a premium of ' 310 per equity share. The initial public offer was fully subscribed and has been listed on the SME platform of the National Stock Exchange of India Ltd (NSE Emerge) on 15-07-2016.
8. In the opinion of the management, the current assets and loans and advances as stated in the Balance Sheet will realize to the extent stated therein.
9. Balances in parties' accounts are subject to confirmation and reconciliation, if any. Appropriate adjustments will be made as and when the balances are reconciled.
10. Previous years figures have been regrouped, reclassified and rearranged wherever necessary to conform to the current years classification.
11. All Figures have been rounded off to the nearest rupee.
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