1 Prior period adjustments
Prior period adjustments of Rs. 11,91,05,334/- is in respect of reversal
of interest income on capital with a partnership firm. The partners of
the firm mutually agreed to discontinue the interest charged on
partners'' capital. Accordingly amount of Rs. 11,91,05,334/- being
interest on capital from the said firm pertaining to earlier years have
been written back during the year.
2 In the opinion of the Management, the Current Assets, Loans and
Advances and Current Liabilities are approximately stated if realized
in the ordinary course of business. The balances of debtors, creditors
and loans & advances are subject to confirmation and reconciliation.
if any. The provisions for all other liabilities are adequate and not
in excess of the amount reasonably necessary.
3 Segment Information
The Company is engaged in the business of contracting activities i.e.
construction and development of infrastructure. The entire operations
are governed by the same set of risk and rewards and therefore the same
has been considered as representing single primary business segment.
The Company operates within a single geographical segment i.e. India.
In view of this, the disclosure requirements of Accounting Standards
(AS-17) Segment Reporting issued by the Institute of Chartered
Accountants of India are not applicable.
4 Impairment of Assets
There was no impairment Loss on fixed assets on the basis of review
carried out by the Management in accordance with the Accounting
Standards AS-28 Impairment of Assets issued by the Institute of
Chartered Accountants of India.
5 Disclosures of Related Parties Transactions
As per the Accounting Standards AS - 18 Related Party Disclosure
issued by the Institute of Chartered Accountants of India, the
disclosure of transactions with related parties as defined in the
Accounting Standards for the period ended 31st March, 2013 is given
below: A List of Related Parties i Key Management Personnel and their
Rajhoo Bbarot - Managing Director
Rikiin R. Bbarot- Executive Director
Bhavana R. Bbarot
Pooja R. Bbarot
Ridhima M. Doshi
Rajhoo A. Bbarot - HUF
Ambalal P. Barot - HUF ii Partnership Firms and Joint Ventures:
Atlanta Thakural Constructions
Atlanta-ARSS Joint Venture
ARSS-Atlanta Joint Venture iii Subsidiaries:
Atlanta Coalmines Pvt. Ltd.
Atlanta Energy Pvt. Ltd.
Atlanta Hotels Pvt. Ltd. (formerly known as Atlanta Nature Homes Pvt.
Atlanta Recycling Company Pvt. Ltd.
Atlanta Tourism Ventures Ltd. (formerly known as Atlanta Urban
Infrastructure Projects Pvt. Ltd.)
Atlanta Infra Assets Ltd. (formerly known as Balaji Toll Ways Ltd.)
Atlanta Ropar Tollways Pvt. Ltd. (formerly known as ARSS Action Ropar
Tollway Pvt. Ltd.)
MORA Tollways Ltd. iv Associate Companies:
Lucknow Varanasi Tollways Pvt. Ltd. v Enterprises over which Key
Management Personnel is able to exercise significant influence:
Atul Raj Builders Pvt. Ltd.
Vaikuntam Realty Pvt. Ltd.
Shrikant Studios Pvt. Ltd.
(As identified and certified by the Management and relied upon by the
auditors, for details of transactions (excluding reimbursement) entered
into with the related parties refer Annexure - 1).
6 The Company has regrouped/reclassified the previous year figures
wherever necessary to conform the current year presentation.