SENSEX NIFTY India | Notes to Account > Construction & Contracting - Civil > Notes to Account from Atlanta - BSE: 532759, NSE: ATLANTA
BSE: 532759|NSE: ATLANTA|ISIN: INE285H01022|SECTOR: Construction & Contracting - Civil
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« Mar 14
Notes to Accounts Year End : Mar '15
1. *Amortization of BOT Rights is provided in accordance with
 F.No.17/60/2012 CL -V dated March 31,2014 issued by the Ministry of
 Corporate Affairs for fixing the amortization rates for non-current
 assets being BOT Tolling Assets. The Company has computed amortization
 in accordance with the new Schedule II order.
 2. Expenditure on EPC contracts
 The Company, following the principle of prudence, conservatism and
 matching principle of cost and revenue in an EPC contract for
 Engineering, Designing, Procuring and Construction of road project at
 Mohania-Ara (Bihar), Ropar (Punjab) and Nagpur(Maharashtra) provides
 for expenditure on such contract so that profit from the contract is
 accrued proportionately in relation to the physical progress of the
 work throughout the contract. In view thereof, in this account an
 amount of Rs. 40,55,11,473 (net of previous year''s provision of Rs.
 1,79,49,92,040) has been adjusted in the Operating expenses.
 There are no prior period adjustments.
 4. 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.
 5. 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.
 6. 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.
 7. 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 March 31, 2015 is given
 A List of related parties
 i Key Management Personnel and their relatives:
 Rajhoo Bbarot - Chairman & Managing Director
 Rikiin R. Bbarot - Joint Managing Director
 Bhavana R. Bbarot
 Pooja R. Bbarot
 Ridhima M. Doshi
 Rajhoo A. Bbarot - HUF
 Ambalal P. Barot - HUF
 ii Partnership firms and joint ventures:
 ABT Developers
 Atlanta Thakural Constructions
 Shreenath Builders
 AAP Constructions
 Atlanta-ARSS Joint Venture
 ARSS-Atlanta Joint Venture
 iii Subsidiaries:
 Atlanta Coalmines Private Limited
 Atlanta Energy Private Limited
 Atlanta Hotels Private Limited
 Atlanta Recycling Company Private Limited
 Atlanta Tourism Ventures Limited
 Atlanta Infra Assets Limited
 Atlanta Ropar Tollways Private Limited
 MORA Tollways Limited
 Northeast Tollways Private Limited
 iv Associate Companies:
 Lucknow Varanasi Tollways Private Limited
 v Enterprises over which Key Management Personnel is able to exercise
 significant influence:
 Atul Raj Builders Private Limited
 Vaikuntam Realty Private Limited
 Shrikant Studios Private Limited
 (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)
 8. In the opinion of the Board, except otherwise stated all assets
 other than fixed assets and non current investments, have a realisable
 value in the ordinary course of business which is not different from
 the amount at which it is stated. The provision for current liabilities
 and other liabilities is adequate and not in excess of amount
 reasonably necessary.
 9. The Company has regrouped/reclassified the previous year figures
 whereever necessary to conform the current year presentation.
Source : Dion Global Solutions Limited
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