1. The Company has only one class of equity shares having a par value
of R 10/- each. Each holder of equity shares is entitled to one vote
per share. In the event of liquidation, the shareholers are eligible to
receive the remaining assets of the company, after distribution of all
the preferential amounts, in proportion of their shareholding.
2. There is no movement in the number of shares outstanding at the
beginning and at the end of the reporting period.
3. Term Loans from Banks are secured by hypothecation of crops, entire
stocks, book debts and other current assets and Plant and Machineries,
both present and future and equitable mortgage of Leasehold Land at
Garden by deposit of Title Deeds and guaranteed by Srikrishna Arjun
Trading & Investment Co. Private Limited and personal guarantee of two
person, one of them is a Director. Term Loan carries interest of Base
rate 5% and is repayable during the financial year 2015-2016.
4. Vehicle Loan is secured by hypothecation of vehicles acquired under
Car Loan Scheme. Repayment details of Vehicle Finance Loan from Bank
outstanding as on 31st March 2015 and repayable during the financial
year 2015-2016.
5. The above loans are secured by hypothecation of crops, entire
stocks, book debts and other current assets and Plant and machineries,
both present and future and equitable mortgage of Leasedhold Land at
Garden by deposit of Title Deeds and guaranteed by Srikrishna Arjun
Trading & Investment Co. Private Limited and personal guarantee of two
persons, one of them is a Director.
6. To the extent identified, the Company has no information from the
suppliers under the Micro, Small and Medium Enterprise Development Act,
2006 and accordingly the disclosure as acquired in Section 22 of the
said Act is not applicable.
7. Market quotation in respect of non traded shares are not available
since long, therefore the market value of these investments has not
been stated
8. The Company's investments of Rs. 14,000,000 in certain
Non-Cumulative Redeemable Preference Shares in group/associated
companies are strategic in nature. Considering the long term
involvement and the intrinsic values of these companies, these
investments have been carried at cost and based on the valuation by
Independant experts, no provision is considered necessary in this
respect.
9. Particulars of Investments as required in terms of Section 186(4)
of the Companies Act, 2013 have been disclosed under Note No. 11 and
15.
10. Rs. 75,00,000 (Previous year Rs. 87,00,000/-) included under
loans to others as above and Rs. 12,00,000 shown under loans and
advances (Note 19) are being repaid in terms of the Order received from
The Hon'ble High Court at Calcutta. Further, in terms of the said order
interest of Rs. 96,96,000 accrued in earlier years on the above loan
and shown under other non current assets (Note No. 14) is recoverable
as per the settlement to be arrived at with the borrower. In view of
the above, the amount outstanding in respect of Loans and interest
thereon have been considered good and recoverable by the Management.
11. Represents loan granted for their business purposes.
a. Current Income tax has been computed considering that the benefits
available under section 80I E of Income Tax Act, 1961 on substantial
expansion is available on the entire profit and provision for tax has
been made accordingly.
b. Current tax includes Rs. NIL (Previous year Rs. 15,79,725/-) of
agricultural income tax payable under the Assam Agricultural Income
Tax, 1939.
12. Contingent Liabilities and commitments (to the extent not provided
for)
13. Commitments
Estimated amount of contract remaining to be executed on capital
account (net of advance of Rs. 1,50,000/-) Rs. 1,79,550/- (Previous
year Rs. NIL).
14. The Company has has no pending litigation with respect to claim
against the company and proceedings pending with
tax/statutory/Government Authorities.
15. Related Party disclosures as identified by the management in
accordance with the Accounting Standard 18
List of related parties
a. Associates Srikrishna Arjun Trading &
Investment Co. (P) Ltd.
b. Directors / Relatives having
significant influence, directly or
indirectly Mr. A. K. Jalan (Relative
Director)
Mr. S. P. Jalan (Relative of
Director)
Mr. Anirudha Jalan ( Director)
Mrs. Indra Jalan (Director)
c. Enterprises where Directors
and relatives have significant
influence Creative Services (P) Ltd.
Hasimara Industries Ltd.
James Alexander & Co. Ltd.
I. In respect of the above parties, there is no provision for doubtful
debts as on 31.3.2015 and no amount has been written off or written
back during the year in respect of debts due from/to them.
II. The above related party information is as identified by the
management and relied upon by the auditors.
16. In the opinion of the Board, the assets other than fixed assets and
non-current investments have a value on reaslisation in the ordinary
course of business at least equal to the amount at which they are
stated.
Defined Benefit Scheme :
The present value of obligation is determined based on actuarial
valuation using the projected unit Credit, which recognises each period
of service as giving rise to additional unit of employee benefit
entitlement and measures each unit separately to built up the final
obligation.
a. Assumption relating to future salary increases, attrition, interest
rate for discount & overall expected rate of return on Assets have been
considered based on relevant economic factors such as inflation, market
growth & other factors applicable to the period over which the
obligation is expected to be settled.
17. The Company's main business is growing and manufacturing Tea. As
such there is no separate reportable segments as per the Accounting
Standard 17 "Segment reporting". Further, as the Company operates
entirely in India, no secondary segment has been identified.
18. Previous year figures has been regrouped / reclassified to conform
with current year presentation, wherever considered necessary.
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