| 1.1 The information regarding suppliers who are holding permenant
registration certificate as an ancilliary industrial undertaking issued
by the Director of Industries of State or Union Territory is not
available from relevant parties. In the absence of such information the
amount and interest due as per the interest of delayed payment to small
and ancilliary industries act,1993 is not ascertainable.
2.1 Other liabilities include the amount of Rs. 2125715 (P. Y. 2125715)
Service Tax adjustment account payable only after amount received from
the customers, includes unite equipments
3.1 For Lease hold land the lease deed has been executed by
Prothonotary & Seniopr Master, through Hon'ble High Court of Judicature
at Bombay in 1993 for 30 years with condition that it will be renewed
on the same terms for a further period of 30 years.
3.2 The Company is using part of the Building for warehousing. The
rentals are charged as per agreed terms. .
3.3 The machineries of the value approximately Rs.18.49 lakhs are in
possession of the Executive Engineer,Kakkad Hydro Electric Project
under Kerala State Electricity Board. The Company's claim in respect
of these Machineries is pending with Authority '
4.1 Debts includes Rs.883568 (883568) due from partnership firm
where in Company is a partner.
4.2 The Company has accounted for various debtors which are
fully recoverable. The Company is persuing through legal battle
for realization of these amounts through Arbitration or Court
Proceedings and considered the same as good debts.
5.1 The Deposits maintained by the Company with banks comprise
time deposits which can be withdrawn by the Company at any point
without prior notice or penalty on principal.
5.2 Fixed Deposits with banks includes deposits of
Rs.68587044 (previous Year Rs.65730105) with maturity of
more than 12 months.
5.3 Fixed Deposits with banks includes Rs.2022044 (Previous Year
Rs.1730105) pledged with contractees and government Departments.
6.1 The Company's Provident Fund is exempted under Section 17 of
Employee's Provident Fund and Miscellaneous Provisions Act, 1952
6.2 Eligible Employees receive benefit from provident fund which is a
defined benefit plan. Both the employee and the Company make monthly
contributions to the provident fund plan equal to a specified
percentage of the covered employees salary. The trust invests in
specific designated instruments as permiteed by Indian Law. The
remaining portion is contributed to government administered fund. As
per the past practice and as per the understanding between the Company
and the employees the staff benefits like leave salary .gratuity and
bonus are worked out and added to basic monthly salary of the
employees. The monthly salary paid is inclusive of all benefits. In
view of this understanding the management is of the view that no
liability exists on
6.3 Legal & Professional Fees of Rs. 1405070 (previous year 1411605)
icludes payment made to Directors Rs.nil (previous year Rs.30000) in
their Professional capacity.
6.4 A sum of Rs. 302190 (Previous Year 11850) is included under other
expenses representing previous years items.
7 CONTINGENT LIABILITIES
for the year ended
31/03/2014 31/03/2013
A. In respect of guarantees given
to Project Authorities by Bank
and counter guaranteed by other
Bank 13,992,417 16,492,417
B. Claims against Company not
acknowledged as debts 10,952,780 9,055,312
C. In respect of Income Tax
pending rectification 3,108,372 3,108,372
7.0 The Company has a single segment namely "Engineering and
Construction". Therfore the Company's business does not fall under
different business segments as defined by Accounting Standard (AS) 17
on "segment reporting".
8.0 Disclosure in accordance with Accounting Standard - 7( Revised)-
amount due from / to customers on construction contracts:
Note: The above information is given only in respect of contracts
entered into on or after 1.04.2003.
9.0 In the opinion of the Board,the Current Assets,Loans and Advances
are approximately of the value stated, if realised in the ordinary
course of business. The provision for all known liabilities are
adequate and not in excess of the amounts considered reasonably
necessary.
10.0 The Company has accounted for Deferred Tax in accordance with
Accounting Standard 22"Accounting for Taxes on Income". Consequently
the Company has credited Deferred Tax Assets/Oiabilities) of Rs 200566
(previous yearRs (100649) to the statement of of Profit and Loss
Account.The year end position of deferred Tax Assets and (Liabilities)
are attributed to the following items:
11 The balance of trade receivables, loans and advances, deposits,
trade and other payables as on 31st March 2014 are subject to
confirmation.
12 Related Parties disclosures.
As per Accounting Standard 18, the disclosures of transactions with the
related parties are given below.
(i) List of related parties where control exists and related parties
with whom transactions have taken place and relationship.
Sr. No. Name of Related Party Relationship
1 Kalindi Engineering Industires (Pvt)Ltd. Associates
2 Rajendra Shipping Pvt. Ltd. Associates
3 Kalindi R. Shah . Managing Director
4 Tejaswini R. Shah Joint Managing Director
* Figures in brackets indicates previous year's figures.
13 The Previous year's figures have been regrouped / reclassified
wherever necessary to confirm to the current years presentation. As
per Report of even date.
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