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Khoday India

BSE: 507435|ISIN: INE687B01014|SECTOR: Breweries & Distilleries
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Dec 09, 16:00
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Khoday India is not listed on NSE
Mar 16
Notes to Accounts Year End : Mar '17

1. A special resolution u/s 100 of the Companies Act 1956 approving the reduction of paid up share capital of the Company held by Public shareholders to the extent of 3,931,042 shares at Rs 75/- per share amounting to Rs 294,828 was passed at the AGM held on 30th December 2013. The Hon''ble Karnataka High Court, on 7th August, 2014 passed an order confirming the special resolution passed by the Company in the said AGM. A certificate of reduction of Capital was issued by the said ROC dated 12th September, 2014 and the MCA records have been updated, incorporating the Reduction of Capital.

The Company has made requisite entries in the books of accounts giving effect to the Reduction of Capital by reducing its Share Capital, Reserves/Securities Premium and creating a liability towards the equity share holders under the head Liability to Equity Share Holders” and a fixed deposit to the tune of Rs 295,000 has been placed with Punjab National Bank for settlement of this liability.

An application filed by SEBI for impalement in the proceedings and recalling the order of Reduction of Capital was rejected by the Hon''ble High Court of Karnataka. SEBI has filed an appeal before the divisional bench of the High Court of Karnataka and the matter is pending before the concerned forum.

The Company has made consistent and repeated attempts to implement the Court''s Order by fixing the record date first on 29th September, 2014 and subsequently on 10th October, 2014, 7th December, 2014, 7th April, 2015, 22nd June, 2015 and 13th October, 2015 for the purpose of drawing up the list of Public Shareholders entitled to payment in respect of the shares so cancelled, but the same has not been acted upon by BSE Limited.

The Company has, in parallel, filed an application before the Hon''ble High Court of Karnataka requesting the Court to issue directions to the Bombay Stock Exchange to confirm the ''Record Date'' set by the Company and consequently issue necessary instructions to the NSDL and CDSL. The matter is pending before the Hon''ble High Court of Karnataka.

Defined Benefit Plan

In case of Gratuity, the present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is recognized in the same manner as gratuity. In line with the accounting policy and as per the Accounting Standard - 15(R), the summarized position of post employment benefits is recognized in the Profit & Loss A/c and Balance Sheet as under:

2. Segment Reporting is presented in Consolidated Financial Statements in terms of Accounting Standard 17 on Segment Reporting.

3. Related Party Disclosures

The List of related parties as identified by the Management is as under Wholly owned Subsidiary

4. Khoday Properties Private Limited Key Management Personnel

5. Late K L Srihari (Managing Director) upto 31st October, 2016

6. K L A Padmanabhasa (Joint Managing Director)

7. K L Swamy ( Executive Director)

Relatives of Key Management Personnel

8. K L Ramachandra (Non Executive Chairman)

9. K R Nithyanand (Non Executive Director)

10. K H Gurunath (Non Executive Director)

11. K S Giridhar (Non Executive Director)

12. KHRadheshyam

13. K H Srinivas

14. K P Ghanshyam

15. K R Dayanand

16. K S Brijmohan

Entities over which Key Management Personnel and/or their relatives are able to exercise significant influence

17. K L Ramachandra - HUF

18. K L A Padmanabhasa - HUF

19. K L Srihari - HUF

20. KLSwamy-HUF

21. Acqua Borewells Private Limited

22. Blendwell bottlers Private Limited

23. Cassanova Distilleries Private Limited

24. Coconut Groves & Holiday Resorts Pvt Limited

25. Daatha Builders Private Limited

26. Elkay Farm

27. Elkay Tradings Corporation Private Limited

28. Five Brothers Marketing Private Limited

29. Forest Resort (Bandipur) Limited

30. Gayathri Foundation

31. Gayathri Holdings Private Limited

32. Hercules Construction Company Pvt Limited

33. Honeywell Business Private Limited

34. Ingo Property Developers Private Limited

35. Jay Pee Shoes Private Limited

36. K Lakshmansa & Company

37. Kankapura Trading Private Limited

38. Khoday Brothers

39. Khodays Breweries Limited

40. Khoday Business Private Limited

41. Khoday Control Systems Private Limited

42. Khoday Eshwarsa and Sons

43. Khoday Hotels Private Limited

44. Khoday Industires (Kuppam] Private Limited

45. Khoday Industries (Hyderabad] Private Limited

46. Khoday Industries Pvt Limited

47. Khodays Brothers International Limited

48. Khodays Technologies Limited

49. Kilara Power Limited

50. L.K Polyfibre Limited

51. L.K Power Corporation Limited

52. L.K Trust

53. Lakshmi Estate

54. Macdonald Tradings Private Limited

55. Me Donald Distilleries Private Limited

56. National Distilleries Limited

57. North India Distillers Private Limited

58. Panchaganga Tradings Private Limited

59. Panchakalyani Tradings Private Limited

60. Parsan Holiday Resorts Private Limited

61. Peterscot Tradings Private Limited

62. Ram Mohan & Company Private Limited

63. Ransh Coffee Estate

64. River Resorts Limited

65. Saraswathi Estate

66. Spring Borewells Company Private Limited

67. Sri Gurunath Tradings Private Limited

68. Sri Narmada Distilleries Private Limited

69. Surya Watch Industries Private Limited

70. The Distillers Company Private Limited

71. Thiruvonam Wines

72. Regit Estates Limited (formerly Tiger Breweries Limited)

73. Trishul Wineries & Distilleries Private Limited

74. United Glass Bottles Manufacturing Company Limited

75. Universal Business Concepts Private Limited

76. Universal Trading Company

77. Vaishnavi Communications Private Limited

78. Vindhya Distilleries

79. Vyjayanthi Tradings Private Limited

80. Wesco Power Generation Limited

81. West India Distilleries Private Limited

82. Fixed Assets includes a building with a WDV of Rs. 9,353 (Previous Year: Rs. 9,829) the title of which is under dispute before the Debt Recovery Tribunal and on which an attachment order has been served by the Employees Provident Fund Organization (EPFO). Pending resolution of these issues, the company continues to reckon the Building as an asset in its financial statement.

83. Certain confirmation of balances for Trade Payables, Trade Deposits and Advances, Capital Advances, Imprest Cash, Deposits, Other Loans & Advances and Trade Receivables are awaited. The accounts'' reconciliations of some parties where confirmation have been received are in progress. Adjustments for differences, if any, arising out of such confirmations/ reconciliations would be made in the accounts on receipt of such confirmations and reconciliations thereof. The Management is of the opinion that the impact of adjustments, if any, is not likely to be significant. In the opinion of the Management all current assets, loans and advances including advances in capital accounts would be realized at the values at which these are stated in the accounts, in the ordinary course of business.

Source : Dion Global Solutions Limited
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