1. GENERAL INFORMATION
Narendra Properties Limited ( "Narendra Properties" or "the Company" )
is a leading Chennai-based Real Estate company. It is engaged in the
business of commercial and residential property development as well as
civil construction for over 40 years, and has developed over 2.5
million sq.ft area.
2. Contingent Liabilities
Bank Guarantees (Previous Year - Rs. 2,50,000) - Rs. 2,50,000. (Issued
in favor of CMDA)
3. Unclaimed / Unpaid Dividend
Pursuant to the provisions of Section 205A and 205C of the Companies
Act, 1956, the dividend which remains unclaimed / unpaid for a period
of seven years from the date of transfer to the unpaid dividend account
is required to be transferred to the Investor Education and Protection
Fund (IEPF) of the Central Govt.
4. Leases
The Company leases office facilities under cancelable operating leases.
The rental expense under cancelable operating lease during the period
was Rs. 11,28,060/-. (Previous Year - Rs. 11,28,060/).
The above amounts do not form part of the Cash and Bank Balances
available with the company and are held off the-Balance-Sheet in Unpaid
Dividend Accounts.
5. Previous year's figures have been regrouped / reclassified wherever
necessary to correspond with the current year's classification/
disclosure.
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