Warren Tea

1.  Revaluation of all Plantation Assets excluding depreciable Assets
 was conducted in 2001-02 by approved Valuers appointed by theCompany.
 In evaluating such Assets, the Valuers carried out physical inspection,
 verification, and analysis of plantation areas and valued the same on a
 conservative basis. The resultant incremental amount of Rs. 362743 was
 incorporated in the Accounts as on 31st March, 2002 and credited to the
 Revaluation Reserve Account.
 
 2.  Pursuant to an Agreement dated 8th October, 2002, Tippuk Tea Estate
 located in Doom Dooma sub-district in Assam was acquired by the Company
 as a going concern with effect from 1st October, 2002 and possession
 and operations have been taken over by the Company effective from the
 same date. Conclusion of the Deed of Conveyance is in process.
 
 3.  Issued, Subscribed and Paid-up Capital both for current and
 previous year includes :
 
 (a) 5419153 Equity Shares of Rs. 10/- each allotted as fully paid-up
 for consideration otherwise than in cash at par in terms of the Schemes
 of Arrangements for Amalgamation.
 
 (b) 4550070 Equity Shares of Rs. 10/- each allotted as fully paid-up
 Bonus Shares by capitalisation of General Reserve.
 
 (c) 5730386 Equity Shares held by the Holding Company - Warren Tea
 Holdings Limited, U.K.
 
 4.  Under the Assam Fixation of CeiJing of Land Holding Act, 1956,
 undeveloped lands .approximately 3745 (Previous Year - 3745) hectares
 have been vested in the State Government. Necessary adjustments in
 respect of land compensation will be made in the accounts on settlement
 of the same.
 
 5.  Post Employment Defined Benefit Plans
 
 The Company operates defined Benefit Schemes like Gratuity,
 Superannuation and Pension Plans based on current salaries in
 accordance with the rules of the Funds/Plans. The Companys Actuary has
 expressed his inability to reliably measure Provident Fund liabilities
 arising out of shortfall in earnings, if any, pending issuance of
 guidance notes from the Actuary Society of India. The Company could
 not, therefore, exhibit the related information.
 
 In terms of Accounting Policies enumerated in Note 24 the following
 Table sets forth the particulars in respect of Defined Benefit Plans of
 the Company for the year ended 31st March, 2009 arising out of
 actuarial valuations:
 
 Post Employment Contribution Plan
 
 During the year an aggregate amount of Rs. 57750 (Previous Year - Rs.
 55205) has been recognised as expenditure towards defined contribution
 plan of the Company.
 
 6.  Related Party Disclosures (i) Names and Relationship Relationship
 
 Holding Company
 
 Significant Influence by Key Management Personnel
 
 Key Management Personnel
 
 Relative of a Key Management Personnel
 
 Name
 
 Warren Tea Holdings Limited
 
 Warren Industrial Limited DPIL Limited
 
 Sectra Plaza Private Limited Suvira Properties Private Limited Warren
 Steels Private Limited
 
 Mr. Vinay K. Goenka (Executive Chairman) Mr. S. K. Ghosh (Managing
 Director)
 
 Mr. Vivek Goenka