| 1.1 As per the Sanctioned Scheme of BIFR, the company has received an
amount of Rs. 1,02,00,000/- towards Equity Share Application money for
allotment of 10,02,000 equity shares to be alloted at par. The Company
has sufficient Authorised Share Capital to cover the allotment of these
Shares.
1.2 As part of term loan settlement, Company has to allot to I F C I,
0.01% Redeemable Preference Shares for an amount of Rs. 71,22,000/-
and accordingly Rs. 71,22,000/- of term loan was converted into
Preference Share Application money for allotment of 7,12,200 preference
shares to be alloted at par. The Company has sufficient Authorised
Share Capital to cover the allotment of these Shares.
2.1 The Comapny has taken interest free unsecured loan aggregating to
Rs. 2,31,89,253/- from Sahasra Investments Private _Limited._
2.2 The Comapny has taken interest free unsecured loan aggregating to
Rs. 1,00,00,000/- from G Venkateswara Rao and Rs. _6,00,000/- from G
Lalitha.
2.3 During the year 2009-10, the Company has taken a Vehicle Loan from
Tata Motors Finance Limited for an amount of Rs. 2,69,000/- The said
loan is repayable in 47 equal monthly instalments commencing from 18 th
June, 2010. 22 monthly instalments are outstanding as on 30 th June,
2012. The said loan is secured by way of Hypotecation of same asset on
which loan has taken.
3.1 Sales Tax Department has raised excess demand of Rs. 26,51,401/-
and on contest has agreed to reconcile the dues._
3.2 The Sales Tax department also charged interest on sales tax dues
and Hon'ble BIFR, vide sanctioned scheme, directed the _Department to
consider waiver of interest and the same is pending with the Sales Tax
department.
3.3 Department of Mines & Geology, Govt. Of Andhra Pradesh has charged
interest on mining cess dues and Hon'ble BIFR, vide sanctioned scheme,
directed the Department to consider waiver of interest and the same is
pending with the Mines & Geology Department. The Company has deposited
an amount of Rs. 46,52,224/- towards disputed interest dues.
4 The Hon'ble BIFR has sanctioned a rehabilitation scheme in the Order
dated 8th June 2011 and the Company is in the process of _implementing
the said scheme.
5 Irelated party disclousures
Key Management Personnel
Dr. K.S.N.Prasad -Managing Director
Associate Companies
(i) Sahasra Investments Private Limited
(ii) Cura Technologies Limited
6 Dues to Micro, Small and Medium Enterprises: The identification of
micro, small and medium enterprise suppliers as defined under the
provisions of "Micro, small and medium enterprises Act, 2006" is based
on Management's knowledge of their status. There are no dues to micro,
small and medium enterprises as on 30 th June 2012.
7 Conformations are not received in respect of the amounts relating to
some of trade receivable, trade payables, loans & advances.
8 The Revised Schedule VI has become effective from 1 April, 2011 for
the preparation of financial statements. This has significantly
impacted the disclosure and presentation made in the financial
statements. Previous year's figures have been regrouped / reclassified
wherever necessary to correspond with the current year's classification
/ disclosure. Figures are rounded off to the nearest.
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