1 The company has received 31,000 Equity Shares of Bank of Rajasthan
Limited held as security against Inter Corporate Loan of Rs.
50,00,000/-, provided earlier. Hence the entire amount has been
allocated towards cost of acquisition of the said shares. However,
26,000 Equity Shares of Bank of Rajasthan Ltd., out of 31,000 shares
are yet to be transferred in the name of the Company, which is in
2 No provision, if any, for fall in market value of investments is made
in the accounts, being temporary in nature.
a) Contingent Liabilities provided in respect of :
I) Income Tax matter under appeal 13,30,585/- (Previous Year
II) Guarantee given to Sales Tax Authority
at Coonoor 5,000.00 5,000.00
b) In view of press release No. 1998-99/1269 dt. 8th April,1999 issued
by RBI the Company has filed application for registration as an NBFC.
But no communication regarding it has been received till date. In view
of pending registration, the company has complied with the prudential
norms prescribed for an NBFC (Notification No. : DFC-199/DG(SPT)-98
c) As the company''s activities fall within a single primary business
segment viz. Tea export so disclosure requirement of Accounting
Standard 17 Segment Reporting issued by ICAI has not been given.
d) As per Related Party disclosure pursuant to Accounting Standard (AS)
18 Related Party Disclosure issued by ICAI:
e) Pursuant to Accounting Standard AS-22 Accounting for taxes on
Income issued by ICAI the Company had a deffered Tax Assets which had
been ignored on prudent basis as the amount is negligible.
f) The Company has no amounts due to suppliers under the Micro, Small &
Medium Enterprises as defined under the Micro, Small & Medium
Enterprises Development Act, 2006 (MSMED) as at 31.03.2012. Hence no
additional disclosure have been made. The information regarding Micro,
Small and Medium Enterprises has been determined to the extent such
parties have been identified on the basis of information.
g) The Ministry of Corporate Affairs has notified the Revised Schedule
VI on 28th February, 2011 which has replaced the existing Schedule VI
in respect of Balance Sheet and Profit and Loss Account from the
financial year commencing 1st April 2011. Accordingly the company has
adopted the Revised Schedule VI from 1st April 2011 which does not
impact recognition and measurement of principles followed for
preparation of financial statements. However it significantly impacts
presentation and disclosures made in the financial statements. Previous
year figures have been reclassified for comparison and conforms to
current year''s classification.