* The additional charge of depreciation on account of revaluation is
withdrawn from the Revaluation Reserve and credited to the Profit and
# The Company has forfeited Rs. 9,45,00,000/- being the 25% advance on
35,00,000 Preferential warrants at Rs. 108/- per Preferential warrant for
which the remaining amount was not received prior to the stipulated
time period. The said amount is transferred to the General Reserve
i. # Working Capital Loans are secured by Hypothecation of Books
Debts, Current Assets, Unencumbered Plant & Machinery and Portion of
the Immovable Properties as per the sanction terms.
ii. # Other Short Term Facilities from Banks are either unsecured
and/or against the securities offered under working capital limits.
Employees'' Retirement and other Benefits :
Defined contribution Plan : The Company''s c&ntribution to provident
fund is charged to Profit and Loss Account.
Defined benefit plan: The Company''s Liability towards Gratuity are
determined by Independent actuaries using the projected credit method.
Actual gain and losses are recognised immediately in the Income and
Expenses. Obligation is measured at the Present value of the estimated
future cash flow using a discounted rate i.e. determined by the market
yield at the Balance Sheet date.
1. CONTINGENT LIABILITIES
Contingent Liabilities are not provided for and are disclosed by way of
(i) Bank Guarantees and Letter of Credits outstanding amounting to Rs.
34,769.53 lacs (Previous Year Rs. 29,148.85 lacs).
(ii) Corporate Guarantee issued in favour of the Lenders on behalf of
their subsidiaries towards the Project Finance of the BOT/Annuity Road
Projects. Loan amount outstanding as at 31.03.2012 was Rs. 28,740 lacs
(Previous Year Rs. 4,471 lacs).
2. Since the principal business of the Company is construction
activity quantitative data in respect of trading and manufacturing
activities carried out by the Company as required by Part II of
schedule VI to the Company''s Act 1956 is not applicable.
3. The Company has not received any information from the suppliers
regarding status under the Micro, Small and Medium Enterprises
Development Act, 2006. (The Act) and hence disclosures required under
the said act have not been given. The Company is making efforts to get
the confirmation from the suppliers as regards their status under the
Act. However, none of the supplier has confirmed the same.
4. The Financials Statements for the year ended 31.03.2011 had been
prepared as per the then applicable, pre-revised Schedule-VI to the
Companies Act, 1956. Consequent to the notification under the Companies
Act, 1956, the Financial Statements for the year ended 31st March, 2012
are prepared under revised Schedule-VI. Accordingly, the previous
year''s figures have also been reclassified to conform to this year''s