| 1.1 The Company has only one class of Equity Shares having a par value
of Rs. 4 each. Each Shareholder of equity share is entitled to one vote
per share. The dividend proposed by the Board ofDirectors is subject to
the approval of shareholders. 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.A.1- The above loan is secured against movable and immovable
properties except book debts both present and future in respect of wind
power project and guaranteed by a director and 2 ex-director.
2.A.2- The company has not made any provision for interest amounting to
Rs.94.50 lac during the year on the above loan. The interest not
provided on Loan from REC including earlier years is Rs 1636.08 Lacs.
2.A.3- REC has filed a recovery suit against the company for recovery
of dues which is pending at the Court of Law. The Company has paid
Rs.200 lacs on the directives received from the court. The amount of
Rs 200 Lacs has been separately shown as advances under Loans &
Advances.
3.1 The company has valued the investment at cost against lower of
cost or market value of each script individually as required by
Accounting Standard 13 issued by Institute of Chartered Accountants
oflndia. However, the company has a provision ofRs.57097107 on account
of diminution in value of investment as per order of the Hon'ble
Calcutta High Court dated 10.08.05 out of which Rs 4,67,40,183/ is
utilisedt leaving a balance ofRs 10356924/. After giving effect the
investment are shown higher by Rs.463.41 Lacs (previous year Rs.393.42
Lacs).
(A) Key Managementpersonnel & relatives Name of the Related Party
1) Santosh Kumar Jain Managing Director
2) Hari Ram Agarwal Director
3) Tarak Nath Datta Director
4) Pranab Chakraborty Director
4. The Company has not made provision for Loss in value of inoperative
Wind Power Project in terms of Accounting Standard -28 (Impairment of
Assets) issued by ICAI
5. A. In the opinion of the Board of Directors, Current Assets, Loans
and Advances have a value on the realisation in the ordinary course
ofBusiness at least equal to amount at which they are stated in the
Balance Sheet.
B. Certain Debit and Credit Balances including Trade Receivables and
Payables, Bank Balances and Advances are subject to confirmation and
consequential reconcialtion thereof.
6. Previous year's figures have been re-arranged and re-grouped
wherever necessary.
| 