| 1. CONTINGENT LIABILITIES AND COMMITMENTS
PARTICULARS As At March 31,2015 As At March 31,2014
Rupees Rupees
i) Mathadi Labour Dispute 655,320.00 655,320.00
ii) Corporate Guarantees on
behalf of other companies 124,048,000.00 124,048,000.00
124,703,320.00 124,703,320.00
2. Disclosure pursuant to Accounting Standard- 15 "Employee Benefits"
(i) The company has made a provision amounting to Rs.171980/- in the
profit & Loss Account for the year ended 31st March 2015 under defined
Contribution Plans.
(ii) Details of Defined Plan
Assumptions Gratuity
Discount Rate 8% P.A.
Expected Return On Plan Assets N/A
Mortality Indian Assured Lives
Mortality (2006-08) Ultimate
Future Salary Increases 5% after every 2 years
Disability Nil
Attrition 0.5% p.a.
Retirement 58 Years
3. The details pertaining to related party transactions in terms
of Accounting Standard (AS 18) "Related Parties" are as follows:
a) Related Parties:
Name of the related party Nature of Relationship
1. Arvind S. Khator Director
2. Ashok S. Khator Director
3. Kailash S. Khator Mg. Director
b) . Relative of Key Management Personnel 1. Praful A.Khator
(c) Disclosure of Transactions between the Company and Related Parties
and the status of Outstanding Balances as on 31st March, 2015
(d) Corresponding figures of the previous year have been regrouped to
confirm with the year's groupings.
(f) The company is not having adequate details to ascertain the status
of sundry creditors as to whether they are Micro, Small and Medium
enterprises or not, hence necessary informations with regard to amount
due and total outstandings are not ascertainable with reference to
Micro, Small and Medium Enterprises.
(g) Balance in personal accounts are subject to confirmation from
respective parties.
(h) The Depreciation Expense for the year ended 31 March, 2015 would
have been lower by Rs. 29.44 Lacs if company had continued with the
previous assessment of useful life of such assets.
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