| 1. SHARE CAPITAL
Rights, preferences and restrictions attached to:
Equity Shares:- The Company has only one class of equity share having a
par value of Rs 10 per share. Each shareholder is eligible for one vote
per share. In the Event of liquidation, the equity shareholders are
eligible to receive the remaining assets of the Company after
distribution of all preferential amounts in proportion to their
shareholding.
2. Notes forming part of Financial Statements
2.1 The presentation in the Balance Sheet, Profit and Loss Statement
and Notes to the Accounts is in terms of the Revised Schedule VI to the
Companies Act, 1956 which has become mandatory with effect from 1st
April, 2011. The assets and liabilities have been classified as current
and non-current based on a twelve month operating cycle. Previous
year's figures have regrouped/reclassified wherever necessary to
conform to the current year's presentation.
2.2 Segment Reporting:
The board of directors of the company is of the opinion that there are
no separate reportable segments as per Accounting Standard-17, as the
operations of the company are in the nature of an integrated system of
the function.
2.3 Related Parties Disclosures:
Related party disclosures, as stipulated by Accounting Standard-18 -
'Related Party Disclosures', are give below:
a) Related Parties and their relationships
(1) Associates:
i) R. P. Villas Private Limited
ii) RPT Constructions Private Limited
iii) REL Builders Private Limited
iv) REL Housing Development Private Limited
(2) Key Managerial Personnel:
i) Lingam Ravindra Rao
ii) Lingam Tulasi Prasad
iii) Kilaru Harischandra Prasad
iv) Tummala Sri Rambabu
v) Kanuru Koteswara Rao
vi) Anne Srinivas
vii) Ponnapalli Srinivasa Phani Bhushan Maruthi
viii) Burugulla Venkata Ravi Kumar Maruthi
ix) Koti Surya Prakasa Rao Mullapudi
x) Anjaneyulu Chunchu
2.4 Accounting for taxes on income as per Accounting Standard-22
The deferred tax Asset for the year 2013-14 due to timing differences
between financial statements and taxation statements as per the
applicable rate of taxation, estimated as Rs. 38,762/- and the same has
been credited to Profit & Loss Account as per the procedure prescribed
in Accounting Standard-22 "Accounting for Taxes on Income" issued by
the ICAI.
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