| Note : 1
a) There is no movement in the equity shares outstanding at the
beginning and at the end of the year.
b) The Company has only one class of issued shares i.e. Equity Shares
having par value of Rs. 10/- per share. Each holder of Ordinary Shares
is entitled to one vote per share and equal right for dividend. The
dividend proposed by the Board of Directors is subject to the approval
of shareholders in the ensuing Annual General Meeting, except in case
of interim dividend. In the event of liquidation, the ordinary
shareholders are eligible to receive the remaining assets of the
Company after payment of all preferential amounts, in proportion to
their shareholding.
c) No Equity Shares have been reserved for issue under options and
contracts/commitments for the sale of shares/ disinvestment as at the
Balance Sheet date
d) No shares have been bought back by the Company during the period of
5 years preceding the date as at which the Balance Sheet is prepared.
e) No securities convertible into Equity/Preference shares issued by
the Company during the year.
f) No calls are unpaid by any Director or Officer of the Company during
the year.
Note : 2
(Amount in Rs.)
2014-15 2013-14
A. Contingent Liabilities not
provided for in respect of :
a) Claims against the company not
acknowledged as debts:
- Central Sales Tax 213,331 213,331
Note : 3
A. During the year the Company has recognized the profit on sale of a
property situated at Goa as necessary formalities with respect to its
transfer has been duly completed.
B. The management is of the view that the Goa property sold by the
Company during the year is Agricultural Land. As per the provisions of
the Income Tax Act, 1961 Capital Gains Tax is not applicable on the
profits arising from the sale of Agricultural Land, hence no provision
for Income Tax is required to be made on the said profits.
C. In an earlier year the Company had received entire sale
consideration in respect of sale of Kinalur Estate and recognized the
profit on its sale in accordance with the terms of the revised
settlement agreement. Except in certain cases, the process of
registration of Land in the name of the respective buyers has also been
completed.
D. The Company has not recognized deferred tax assets during the year
in absence of virtual certainity of future taxable income.
E. Related party disclosures as required by AS 18 "Related Party
Disclosures" are given below :
Relationship:
a) Company having significant influence in TCMEIL (by virtue of having
more than 20% voting rights) Joonktollee Tea & Industries Ltd. (JTIL)
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