| 1.1 Equity Shares:The Company has only one class of Equity shares
having a par value of Rs.10/ per share. Each shareholder is eligible
for one vote per share held.
1.2 In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive any of the remaining assets of the
company, after distribution of all preferential amounts. However, no
such preferential amounts exist currently. The distribution will be in
proportion to the number of equity shares held by the shareholders.
2 RELATED PARTY DISCLOSURE
Related Party Disclosure have been set out as below. The related
parties as defined by Accounting Standard 18 'Related Party
Disclosures' as per Accounting Standard Rules,2006, in respect of which
the disclosure have been made, are identified on the basis of
information available with the company:
A) Names of Related Parties and description of Relationship:
a) Key Managerial Personnel (Directors):
Rajiv Kashyap (Chairman cum Managing Director)
Praful Rane (Director)
Kunal Patil (Director)
b) Associates :
Krishnasagar Builders Limited
Krishna Developers
Fact Biodiesel Limited
Arymol Builders Pvt. Ltd.
Note : Related parties are as identified by the Company and relied upon
by the Auditors.
3 DUES TO MICRO SMALL AND MEDIUM ENTERPRISES AS PER MSMED ACT.2006
The Company has no dues to micro and small enterprises during the year
ended March 31, 2012 and March 31 ,2011 and as at March 31,2012 and
March 31,2011.
4 The Company has been advised that as there is no tax effect of
timing difference based on the estimated computation for a reasonable
period, there is no provision for deffered tax in terms of Accounting
Standard (AS 22) on accounting for Taxes on Income"
5 Information pursuant to clause 32 of the listing Agreements with
stock exchanges in respect of Loans and Advances in the nature of Loans
where there is no repayment schedule or repayment beyond seven years or
no interest or interest u/s 372A of the Companies Act, 1956 is Nil and
the Maximum Outstanding during the year is Rs. NIL.
6 The revised Schedule VI has been effective from 1st April, 2011 for
the preparation of financial statement. This has significantly infected
the disclosure and presentation made in the financial statements.
Accordingly, the Company has reclassified the previous year's figures
to this year's classification. The adoption of revised Schedule VI does
not impact revenue recognition and measurement principles followed for
preparation of financial statements.
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