| 1.1 The company does not have any outstanding amount payable to Micro,
Small and Medium Enterprises as specified in Micro, Small and Medium
Enterprises Development Act, 2006.
1.2 Provisions of The Payment of Gratuity Act, and the Employees'
Provident Fund Act, 1952 are not applicable to the Company.
1.3 Related parties disclosures
A. Associate Companies
Bajarang Finance Limited, Rajendra Finance Private Limited, Remi
Finance & Investment Private Limited,Remi Fans Limited and Kuberkamal
Industrial Investments Ltd.
31-03-2014 31-03-2013
(Rs.) (Rs.)
a) Interest Paid 33,49,905.00 16,28,978.00
b) Interest Received. NIL 875.00
c) Loan Given NIL NIL
d) Loan Received 40,00,000.00 6,77,57,281.00
e) Outstanding Payable at year end 2,24,40,995.00 3,72,31,080.00
f) Outstanding Receivable at year end NIL NIL
1.4 The company has exposure to National Spot Exchange Ltd. (NSEL) of
Rs.7,94,79,965/- through M/S Motilal Oswal Commodities Broker Pvt. Ltd.
NSEL has not been able to discharge its payment obligation from August
2013 onwards. Economic Office Wing (EOW) of Mumbai Police is
investigating the matter and NSEL Investors Forum of which company is a
member has also filed writ in Bombay High Court. Based on the
information available with the company it is decided to write off Rs.
1,98,70,000/- during the year being 25% of the original outstanding
amount. The company is hopeful for recovery of the balance amount in
view of the steps taken by EOW of Mumbai Police, legal case in the High
Court and steps taken by court.
2. Share Capital
A) Terms/ Rights Attached to Equity Shares:
i) The company has only one class of equity shares having par value of
Rs. 10. Each holder of equity shares is entitled to one vote per share.
ii) In the event of liquidation of the company, the holders of the
equity shares will be entitled to receive remaining assets of the
company, after distribution of all preferential amounts. The
distribution will be in proportion to the number of equity shares held
by the shareholders.
3. Previous year figures have been regrouped / rearranged, wherever
necessary to control with current year's presentation.
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