| |
Notes |
| 18. |
13% Secured redeemable non convertible debentures aggregating Rs.100 crores (31.03.08-Nil), privately placed (allotment date -17th November, 2008) are due for redemption at par at the end of third year from the date of allotment with put / call option at par at the end of first year from the date of allotment. Debenture Redemption Reserve of Rs. 25 crores, being 25% of the aforesaid value of debentures has been created out of the profits for the year. |
| 19. |
Pursuant to acquisition of shares in Bulland Buildmart Private Limited (BBPL) during the year, BBPL has become a wholly owned subsidiary of the Company effective 1st July, 2008. The Company has filed an application in the High Court at Calcutta for amalgamation of BBPL with the Company effective 1st October, 2008 which is pending before the High Court, accordingly, no effect of the aforesaid amalgamation has been considered in these accounts. |
| 20. |
In keeping with the Notification No. G.S.R. 225(E) dated 31st March, 2009 issued by the Ministry of Corporate Affairs, the Company has opted to adjust the exchange differences arising on reporting of long term foreign currency monetary items (loan) relating to acquisition of depreciable capital assets in the carrying amount of such assets (to be depreciated over the balance life of the related assets) with retrospective effect from the Company's financial year ended 31st March, 2008 vis-a-vis recognition of aforesaid exchange differences as income / expense in the Profit and Loss Account in the previous year. Pursuant to the exercise of the aforesaid option, exchange difference as on 1st April, 2008 being net loss of Rs. 810,000 has been debited to Capital Work in Progress with corresponding credit to General Reserve. Further, as a result of this change, year-end carrying amount of fixed assets / capital work in progress is higher by Rs. 26,83,80,252 with corresponding incremental impact on the profit for the year. |
| 21. |
Pursuant to the Announcement on Accounting for Derivatives issued by the Institute of Chartered Accountants of India in March, 2008, the Company has accounted for during the year losses amounting to Rs. 17,36,12,270 (2007-08 -Nil) in respect of outstanding derivative contracts at the Balance Sheet date by marking them to market as indicated in Note 1 (g) above. Such derivative loss is included in 'Miscellaneous Expenses 'under Schedule 15 to accounts. Realised Loss (net) of Rs. 77,02,500 (2007-08 - Nil) during the year arising from derivative contracts is included in 'Miscellaneous Expenses' under schedule 15 to accounts. |
| 22. |
Information pursuant to the provisions of paragraph 3, 4C and 4D of Part II of Schedule VI to the Companies Act, 1956 is given in Schedule 18. |
