1 Corporate information
CPEC Ltd is in the business of solar power and implementing 5 mw solar
power project in the state of Gujarat under the associate company Euro
Solar Power Pvt ltd . CPEC ltd is operating from Mumbai having
registered office at 505,Sai Samarth Business Park, Deonar Road,
Mumbai- 400088, Maharashtra.
2. The company made investment in S. J. Green Park Pvt. Ltd. for
implementation of 5 MW solar project in the state of Gujarat. The
company sold its investment in S. J. Green Parks Pvt. Ltd , resulting
in net loss of Rs.Rs.3.2 Cr.However, the company made gains of Rs. 3.30
Cr. on sale of 41 acres of land to the promoters of S.J.Greenpark P
3. The company has made investment in Euro Solarpower Pvt. Ltd and
holding controlling rights. The said company is implementing 5MW solar
power project in the state of Gujarat.
4. The investments are stated at cost. Provisions for diminution in
the value of the investments will be made only if such decline is other
than temporary in the opinion of the management.
Moulik Impex Pvt. Ltd. a subsidiary company is not carrying out any
discharge of their liability to the bank since their was a common
mortagage of company.s property at Lalbaug which was sold in the last
financial year. Accordingly to the management the amounts are
(a) Amount invested in Artheon Teleservices Pvt. Ltd. for which shares
has yet to be alloted.
(i) The Advances in the course of business given to two related
parties of Rs. 2.15 crs and Rs.7.4 lacs respectively has been
outstanding for more than 2 years and as per management opinion it is
not receivable and hence written off in the current year.
Description of relationship Details of related parties:
Holding Company CPEC Ltd
Subsidiaries Moulik Impex Pvt. Ltd.
Associates Euro Solar Power Pvt. Ltd.
Key Management Personnel (KMP) Mr Akbar Shamji , Alim Shamji , Ryaz
Mrs. S H Master Relatives of KMP Mrs. Samina Shamji
Entities in which KMP/relatives of KMP have Barayu/Golden
significant influence Processing,Golden Agro Farms Ltd.,Llion net
Ltd.,Stonefield construction PLC. Note: Related parties have been
identified by the Management