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2013-14 2012-13
Rs. Rs.
1. Contingent liabilities and
Commitments:
(i) Contingent Liability not
provided for in respect of:
Claims against the company not
acknowledged as debt
(a) Income Tax 597,829 6,930,083
(b) Others 1,562,455 2,422,071
(ii) Commitments :
Estimated amount of contracts remaining to be executed on capital
account and not provided for (net off advances) Rs.4,36,107 (Previous
year Rs. 17,32,987)
2. In the opinion of the Board of Directors, Current Assets, Loans
and Advances have realizable value at least equal to amount stated in
Balance Sheet in the ordinary course of business.
3. Amounts due to Micro, Small and Medium Enterprises
Disclosure of amounts due to Micro, Small and Medium Enterprises under
current liabilities is based on the information with the company
regarding status of the supplier as defined under "Micro, Small and
Medium Enterprises Development Act, 2006". As certified by the
management, accounts overdue as on March 31, 2014 to Micro, Small and
Medium Enterprises on account of principal amount together with
interest aggregate to Rs. Nil (Previous Year Nil)
4. Deferred Taxation
No provision has been made for deferred tax assets in respect of
carried forward business losses as there is no virtual certainty of
having adequate taxable profit in the near future to realize such
assets.
5. Related Party Disclosure under AS-18 :
Related parties with whom transactions have taken place during the year
Holding Company : Tata Global Beverages Ltd
Key Managerial Personnel : Mr. Pradeep Poddar, Managing Director & CEO
6. Applicable disclosures as per AS-15 (Revised).
The Company has calculated the various benefits provided to employees
as under:
A) Defined Contribution Plans
Provident Fund including Employee pension scheme
During the year Company has recognized the following amounts in Profit
& Loss Account for the year ended
March 31, 2014
Employers' Contribution to Provident Fund Rs. 2,735,522/- (Previous Year
Rs. 2,433,517/-)
7. There is no separate reportable segment, as the company is
predominantly engaged in only one segment i.e. "Natural Mineral
Water". Therefore, the provisions of AS-17 issued by the Institute of
Chartered Accountants of India, pertaining to Segment Reporting, is not
applicable. Exports being less than 10% of total sales, Geographical
Segment reporting is also not required.
8. The Board of Directors of the Company in its meeting held on
November 12, 2013 had approved the scheme of merger of the Company with
Tata Global Beverages Limited (TGBL), in terms of a scheme of
amalgamation under Section 391-394 and other applicable provisions of
the Companies Act, 1956. The necessary approvals from the Stock
exchange and SEBI have been obtained. The scheme is proposed to be
placed at the Court convened meeting of the Equity Shareholders of the
Company to be held on June 14, 2014 for their approval. The appointed
date of the scheme is 1st April 2013. The Scheme would be effective on
the receipt of necessary approvals and completion of formalities as
laid down thereunder. As per the scheme, the business operations of the
company are being carried out in trust on behalf of TGBL from the
appointed date till the effective date.
9. The figures of the previous year have been regrouped / rearranged,
wherever necessary, to conform to current year's presentation.
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