NOTE 1 : NATURE OF OPERATIONS
Rodium Realty Limited the Company or RRL, is primarily engaged in
business of real estate development and services.
(a) Rights, preferences and restrictions attached to shares;
i. The company has one class of equity shares having a par value of
Rs.10 per share. Each shareholder is eligible for one vote per share
held. The dividend proposed by the Board of Directors is subject to the
approval of the shareholders in the ensuing Annual General Meeting,
except in case of interim dividend. In the event of liquidation, the
equity shareholders are eligible to receive the remaining assets of the
Company after distribution of all preferential amounts, in proportion
to their shareholding.
ii The company has 9% Cumulative Redeemable Preference Shares having
par value of Rs. 10 per share. The voting rights of the persons holding
the said shares shall be in accordance with section 87 of the Companies
Act, 1956. The shares shall, in case of winding up are entitled to
rank, as regards repayment of Capital and arrears of dividend, whether
declared or not upto the commencment on the winding up, in priority of
equity shares but shall not be entitled to any further partcipation in
profits or assets. The shares are for a term of 20 Years from 31st
March, 2008 being the date of allotment.
A Contingent Liability not provided for:
a) The Hon. Supreme Court has given the interim relief on the VAT
liability to be discharged on the sale of underconstruction flats/
units as on August 28, 2012. Under the premises ownership agreement/
letter of allotment entered into by the company and the partnership
firm which the company has taken over on dissolution of the partnership
firm on going concern basis, such liabiltity ultimately needs to be
borne by the purchaser of the premises and hence no provision has been
made in the books.
b) Uncalled amount of Rs. 46,500 /- each on 250 units of Kotak India
Growth Fund - Rs. 1,1 6,25,000
B The Company operates under a single segment Real Estate Development
and Services and its operations are within the country. In view of the
above, segment wise disclosures, either primary or secondary, as per AS
17 are not required to be made during the year.
C Dues to Micro and Small enterprieses under Micro, Small and Medium
Enterprise Development Act, 2006; (MSMED)
The information given below and included in other current liabilities
(Note 8 & 9) regarding Micro, Small and Medium Enterprises has been
determined to the extent such parties have been identified on the basis
of information available with the company;
D The Company had taken various office premises under operating leases.
These are generally not non-cancelable and range between 11 months to 3
years and above and are renewable by mutual consent on mutually
agreeable terms. Lease payments amounting to Rs. 12,606,000 (P. Y. Rs.
12,206,032) are recognised in the Statement of Profit and loss account
under the head [RentQ
E The Central Government vide notification SO. 447 (E) dated February
28, 2011, has revised the Schedule VI under the Companies Act, 1956 and
the same has become applicable for the Financial Statements to be
prepared for the financial year commencing on or after April 1, 2011.
Accordingly, the Company has reclassified the previous year figures to
conform to this year''s classification. The adoption of the revised
Schedule VI does not impact the recognition and measurement principles
followed for the presentation of the Financial Statements.