NEPC Agro Foods Ltd. के अकाउंट के लिये नोट

Mar 31, 2014

1. Contingent Liabilities

On account of delayed/non-compliance of various fiscal statutes - Amount Unascertainable (Previous year - Amount Unascertainable)

2 The Balances appearing under Secured and Unsecured Loans, Sundry Debtors, Loans and Advances, Deposits and Current Liabilities are subject to confirmations and reconciliation, if any. Pending such confirmation and/or reconciliation no adjustments have been made in the accounts. Adjustments if any will be considered in the accounts in the year of such confirmation/ reconciliation.

2.1 Pending confirmation and reconciliation of Debtors and Creditors as referred in para 2.1 above no adjustment has been considered necessary for creditors having debit balances and debtors having credit balances since the beginning of the accounting period. Adjustments if any will be considered in the accounts in the year of such confirmation /reconciliation.

3. In the opinion of the management, current assets and loans and advances are approximately of the value stated, if realised in the ordinary course of business and adequate provisions for all known liabilities have been made in the accounts except otherwise stated elsewhere in other notes.

4. Investments are subject to physical verification. The amount of permanent diminution in the book value of Longterm Investments has not been recognized during the year, since the same is unascertainable (Previous year-Amount unascertainable), in the absence of value indicators in respect of the said Investments which are yet to be received by the Company.

5.1 Sundry debtors amounting to Rs. 131.61 lacs (Previous year Rs. 131.61 lacs) are outstanding for a substantial year. However, no provision is considered necessary in the accounts, since in the management''s view, the same are realisable.

5.2 Loans and Advances amounting to Rs. 1664.91 lacs (Previous year-Rs. 1682.83 lacs), are outstanding for a substantial year. However no provision has been made by the Company, since the management is hopeful of their performance /recovery.

6. Amounts due to Small Scale Industrial undertakings under the head Current Liabilities, based on the information available with the Company and relied upon by the auditors -Nil. (Previous Year-Nil).

7. The fixed assets are taken as physically verified and certified by the management.

8. The Company has neither made provision for the Gratuity under the Group Gratuity Assurance Scheme nor paid the premium for the same to the Life Insurance Corporation of India. Further the Company has not made any provision for Leave Encashment. Instead the Gratuity and the Leave encashment are accounted for on payment basis. This is in departure of the provisions as prescribed under Accounting Standard 15 - Accounting for Retirement Benefits in the Financial Statements of Employers issued by the Institute of Chartered Accountants of India. The liability for payment of gratuity and Leave Encashment is presently unascertainable.

9. The operations of the Company are in essence concentrated in a particular geographical area and in a particular product/service only. However in earlier years the Company was operating in some other product/service viz. Mineral Water, Agro products & Pharmaceuticals products. As the said divisions were discontinued hence, Segmental information as prescribed by the Accounting Standard 17 - Segmental Reporting issued by the Institute of Chartered Accountants of India is not disclosed during the year under review.

10. During the year no provision for depreciation is considered in the books since the assets were not put into use.

11 No provision has been made in accounts towards interest and penal interest for the year on the secured loans taken from Banks and Financial Institutions and unsecured loans from others, since the management is in the process of negotiating compromise and settlement/ restructuring with the respective lenders. The amount of such non- provision and its consequential impact on the secured and unsecured loans, profit for the year and current liabilities are presently unascertainable (Previous Year - amount unascertainable).

12. In compliance with guidelines prescribed under Accounting Standard 26 Intangible Assets the company has written off Miscellaneous Expenditures amounting to Rs.249.95 Lacs during the financial year 2003-04 instead of writing off in ten years as per policy of the company.

13. During the year Company has not complied with the provisions as prescribed by Accounting Standard as 28 - Impairment of Assets issued by the Institute of Chartered Accountants of India and has not recognised any impairment in the value of certain assets, though conditions exists for the impairment of the same. The amount of such non recognition is presently unascertainable.

14 Deferred Taxation

Deferred tax as per Accounting Standard AS-22 issued by the Institute of Chartered Accountants of India is not considered in view of the Accumulated losses as per Income Tax Act 1961.

16. Related Party Desclosure:

In pursuance of Accounting Standard 18 pertaining to Related Party Disclosure issued by the Institute of Chartered Accountants oflndiaand Based on available information, the disclosure are as under:

a) List of Related Parties and relationships:

Sr.No Relation Name of Party Key Management Personnel Mr. Rajkumar, Director Mr. Tirupathi Kumar, Director

b) Salaries & Wages include Remuneration paid to key management personnel - Rs.Nil (Previous Period - Nil)

17. No provision has been made towards deterioration/ erosion, if any, in the value of inventories due to efflux of time, obsolescence and market conditions.

18. The previousyear accounts were prepared for 12 months and current year is 12 months from April 2013 to March 2014.

19. Auditors remuneration consists of the following:

20) Information pursuant to Part II of Schedule VI to the Companies Act. 1956. to the extent applicable to the Company for the period is as follows:

a) Licensed/ Installed Annual Capacities on Single Shift Basis

e) FOB value of exports - Nil (Previous year - Nil)

f) CIF value of Imports - Nil (Previous year - Nil)

g) Expenditure in foreign Currency - Nil ( Previous year - Nil)

21. Previous Period figures have been regrouped/ rearranged wherever considered necessary.

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Mar 31, 2013

1. Contingent Liabilities

On account of delayed/non-compliance of various fiscal statutes - Amount Unascertainablc (Previous year - Amount Unascertainable)

2.1 The Balances appearing under Secured and Unsecured Loans, Sundry Debtors, Loans and Advances, Deposits and Current Liabilities are subject to confirmations and reconciliation, if any. Pending such confirmation and/or reconciliation no adjustments have been made in the accounts, Adjustments if any will be considered in the accounts in the year of such confirmation/ reconciliation.

2.2 Pending confirmation and reconciliation of Debtors and Creditors as referred in para 2.1 above no adjustment has been considered necessary for creditors having debit balances and debtors having credit balances since the beginning of the accounting period. Adjustments if any will be considered in the accounts in the year of such confirmation /reconciliation.

3. In the opinion of the management, current assets and loans and advances are approximately of the value stated, if realised in the ordinary course of business and adequate provisions for all known liabilities have been made in the accounts except otherwise stated elsewhere in other notes.

4. Investments are subject to physical verification. The amount of permanent diminution in the book value of Long term Investments has not been recognized during the year, since the same is unascertainable (Previous year- Amount unascertainable), in the absence of value indicators in respect of the said Investments which are yet to be received by the Company.

5.1 Sundry debtors amounting to Rs. 131.61 lacs (Previous year Rs. 131.61 lacs) are outstanding for a substantial year. However, no provision is considered necessary in the accounts, since in the management''s view, the same are realisable.

5.2 Loans and Advances amounting to Rs. 1682.92 lacs (Previous year-Rs. 1682.83 lacs), are outstanding for a substantial year. However no provision has been made by the Company, since the management is hopeful of their performance /recovery.

6. Amounts due to Small Scale Industrial undertakings under the head Current Liabilities, based on the information available with the Company and relied upon by the auditors -Nil. (Previous Year-Nil).

7. The fixed assets are taken as physically verified and certified by the management.

8. The Company has neither made provision for the Gratuity under the Group Gratuity Assurance Scheme nor paid the premium for the same to the Life Insurance Corporation of India. Further the Company has not made any provision for Leave Encashment. Instead the Gratuity and the Leave encashment are accounted for on payment basis. This is in departure of the provisions as prescribed under Accounting Standard 15 - Accounting for Retirement Benefits in the Financial Statements of Employers issued by the Institute of Chartered Accountants of India. The liability for payment of gratuity and Leave Encashment is presently unascertainable.

9. The operations of the Company are in essence concentrated in a particular geographical area and in a particular product/service only. However in earlier years the Company was operating in some other product/service viz. Mineral Water, Agro products & Pharmaceuticals products. As the said divisions were discontinued hence, Segmental information as prescribed by the Accounting Standard 17 - Segmental Reporting issued by the Institute of Chartered Accountants of India is not disclosed during the year under review.

10. During the year no provision for depreciation is considered in the books since the assets were not put into use.

11 No provision has been made in accounts towards interest and penal interest for the year on the secured loans taken from Banks and Financial Institutions and unsecured loans from others, since the management is in the process of negotiating compromise and settlement/restructuring with the respective lenders. The amount of such non-provision and its consequential impact on the secured and unsecured loans, profit for the year and current liabilities are presently unascertainable (Previous Year - amount unascertainable).

12. In compliance with guidelines prescribed under Accounting Standard 26 Intangible Assets the company has written off Miscellaneous Expenditures amounting to Rs.249.95 Lacs during the financial year 2003-04 instead of writing off in ten years as per policy of the company.

13. During the year Company has not complied with the provisions as prescribed by Accounting Standard as 28 - Impairment of Assets issued by the Institute of Chartered Accountants of India and has not recognised any impairment in the value of certain assets, though conditions exists for the impairment of the same. The amount of such non recognition is presently unascertainable.

14 Deferred Taxation

Deferred tax as per Accounting Standard AS-22 issued by the Institute of Chartered Accountants of India is not considered in view of the Accumulated losses as per Income Tax Act 1961.

16. Related Party Desclosure:

In pursuance of Accounting Standard 18 pertaining to Related Party Disclosure issued by the Institute of Chartered Accountants of India and Based on available information, the disclosure are as under:

b) Salaries & Wages include Remuneration paid to key management personnel - Rs.Nil (Previous Period - Nil)

17. No provision has been made towards deterioration/ erosion, if any, in the value of inventories due to efflux of time, obsolescence and market conditions.

18. The previousyear accounts were prepared for 12 months and current year is 12 months from April 2012 to March 2013.

e) FOB value of exports - Nil (Previous year - Nil)

f) OF value of Imports - Nil (Previous year - Nil)

g) Expenditure in foreign Currency - Nil ( Previous year - Nil )

19. Previous Period figures have been regrouped/ rearranged wherever considered necessary.

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Mar 31, 2010

1. Contingent Liabilities

On account of delayed/non-compliance of various fiscal statutes - Amount Unascertainable (Previous year - Amount Unascertainable)

2.1 The Balances appearing under Secured and Unsecured Loans, Sundry Debtors, Loans and Advances, Deposits and Current Liabilities are subject to confirmations and reconciliation, if any. Pending such confirmation and/or reconciliation no adjustments have been made in the accounts. Adjustments if any will be considered in the accounts in the year of such confirmation/ reconciliation.

2.2 Pending confirmation and reconciliation of Debtors and Creditors as referred in para 2.1 above no adjustments has been considered necessary creditors having debit balances and debtors having credit balances since the beginning of the accounting period. Adjustments if any will be considered in the accounts in the year of such confirmation /reconciliation.

3. In the opinion of the management, current assets and loans and advances are approximately of the value stated, if realised in the ordinary course of business and known liabilities have been made in the accounts except otherwise stated elsewhere in other notes.

4. Investments are subject to physical verification. The amount of Permanent diminution in the book value of Long term Investments has not been recognized during the year since the same in unascertainable (previous year amount unascertainable), in the absence of value indicators in respect of the said Investments which are yet to be received by the Company Of the said Investments, shares having face value of Rs. 100.00 lacs (Previous year-Rs. 1 lacs) have still not been transferred in the Company''s name.

5. Sundry Debtors amounting to Rs. 131.61 lacs (Previous year Rs. 131.61 lacs for a substantial year. However, no provision is considered necessary in the accounts, since in the management s view, the same are realisable.

5.1 Loans and Advances amounting to Rs.1683.18 lacs (Previous year Rs.1683 17 lacs) are outstanding for a substantial year. However no prevision has been made by the company since the management is hopeful of their performance /recovery.

6. Amounts due to Sma11 Industrial undertakings under the head Current Liabilities, based on the information available with the Company and relied upon by the auditors -Nil. (Previous year - Nil)

7. The fixed assets are taken as physically verified and certified by the management

8. The company has neither made provision for the Gratuity under the Group Gratuity Assurance scheme not paid the premium for the same to the life insurance corporation of India. Further the company has not made any provision for leave Encashment. Instead the Gratuity and the leave encashment are accounted for on payment basis. This is in departure of the provisions as prescribed under Accounting Standard 15 - Accounting for Retirement Benefits in the Financial Statements of Employees issued by the institute of charted Accountant of India. The liability for payment of gratuity and leave encashment is presently unascertainable.

9. The operations of the Company are in essence concentrated in a particular geographical area and m a particular product/service only. However in earlier years the Company was operating in some other products/ service viz. Mineral Water, Agro products & Pharmaceuticals products. As the said divisions were discontinued hence, Segmental information as prescribed by the Accounting Standards 17- Segmental Reporting issued by the Institute of Chartered Accountants of India is not disclosed during the year under review.

10. During the year no provision for depreciation is considered in the books since the assets were not put into use.

11 No provision has been made in accounts towards interest and penal interest for the year on the secured loans taken from Banks and Financial Institutions and unsecured loans from others, since the management is in the process of negotiating compromise and settlement/restructuring with the respective lenders. The amount of such non-provision and its consequential impact on the secured and unsecured loans, profit for the year and current liabilities are presently unascertainable (Previous Year - amount unascertainable).

12. In compliance with guidelines prescribed under Accounting Standard 26 Intangible Assets the company has written off Miscellaneous Expenditures amounting to Rs.249.95 Lacs during the financial year 2003-04 instead of writing off in ten years as per policy of the company.

13. Certain bank balances amounting to Rs.0.02 lacs are subject to confirmation and / or reconciliation. Any adjustments consequent to such reconciliation would be considered in the '' account upon receipt of such confirmation and/or reconciliation.

14. During the year Company has not complied with the provisions as prescribed by Accounting Standard as 28 - Impairment of Assets issued by the Institute of Chartered Accountants of India and has not recognised any impairment in the value of certain assets, though conditions exists for the impairment of the same. The amount of such non recognition is presently unascertainable.

15 Deferred Taxation

a) Deferred tax as per Accounting Standard AS-22 issued by the Institute of Chartered Accountants of India is not considered in view of the Accumulated losses as per Income Tax Act 1961.

16. Related Party Disclosure:

In Pursuant of Accounting Standard 18 pertaining to Related Partly Disclosure issued by the Institute of Chartered Accountants of India and Based on available information, the disclosure are as under:

c) Salaries & Wages include Remuneration paid to key management personnel - Rs. Nil (Previous Period - Nil)

17. No provision has been made towards deterioration/ erosion, if any, in the value of inventories due to efllux of time, obsolescence and market conditions.

18. The previous year accounts were prepared for 12 months and current year is 12 months from April 2009 to March 2010.

19) Information pursuant to Part n of Schedule VI to the Companies Act, 1956, to the extent applicable to the Company for the period is as follows:

e) FOB value of exports - Nil (Previous year - Nil)

f) CIF value of Imports - Nil (Previous year - Nil)

g) Expenditure in foreign Currency - Nil (Previous year - Nil)

20. Previous Period figures have been regrouped/ rearranged wherever considered necessary.

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Mar 31, 2009

1. Contingent Liabilities

On account of delayed/non-compliance of various fiscal statutes - Amount Unascertainable (Previous year - Amount Unascertainable)

2.1 The Balances appearing under Secured and Unsecured Loans, Sundry Debtors, Loans and Advances, Deposits and Current Liabilities are subject to confirmations and reconciliation, if any. Pending such confirmation and/or reconciliation no adjustments have been made in the accounts. Adjustments if any will be considered in the accounts in the year of such confirmation/ reconciliation.

2.2 Pending confirmation and reconciliation of Debtors and Creditors as referred in para 2.1 above no adjustment has been considered necessary for creditors having debit balances and debtors having credit balances since the beginning of the accounting period. Adjustments if any will be considered in the accounts in the year of such confirmation /reconciliation.

3. In the opinion of the management, current assets and loans and advances are approximately of the value stated, if realised in the ordinary course of business and adequate provisions for all known liabilities have been made in the accounts except otherwise stated elsewhere in other notes.

4. Investments are subject to physical verification. The amount of permanent diminution in the book value of Long term Investments has not been recognized during the year, since the same is unascertainable (Previous year- Amount unascertainable), in the absence of value indicators in respect of the said Investments which are yet to be received by the Company. Of the said Investments, shares having face value of Rs.100.00 Lacs (Previous year-Rs.lOO.OOLacs) have still not been transferred in the Companys name.

5.1 Sundry debtors amounting to Rs. 132.61 Lacs(PreviousyearRs.ll4.05Lacs)areoutstanding for a substantial year. However, no provision is considered necessary in the accounts, since in the managements view, the same are realisable.

5.2 Loans and Advances amounting to Rs.1683.17 lacs (Previous year-Rs. 1400.23 lacs), are outstanding for a substantial year. However no provision has been made by the Company, since the management is hopeful of their performance /recovery.

6. Amounts due to Small Scale Industrial undertakings under the head Current Liabilities, based on the information available with the Company and relied upon by the auditors -Nil. (Previous Year-Nil).

7. The fixed assets are taken as physically verified and certified by the management.

8. The Company has neither made provision for the Gratuity under the Group Gratuity Assurance Scheme nor paid the premium for the same to the Life Insurance Corporation of India. Further the Company has not made any provision for Leave Encashment. Instead the Gratuity and the Leave encashment are accounted for on payment basis. This is in departure of the provisions as prescribed under Accounting Standard 15 - Accounting for Retirement Benefits in the Financial Statements of Employers issued by the Institute of Chartered Accountants of India. The liability for payment of gratuity and Leave Encashment is presently unascertainable.

9. The operations of the Company are in essence concentrated in a particular geographical area and in a particular product/service only. However in earlier years the Company was operating in some other product/service viz. Mineral Water, Agro products & Pharmaceuticals products. As the said divisions were discontinued hence, Segmental information as prescribed by the Accounting Standard 17 - Segmental Reporting issued by the Institute of Chartered Accountants of India is not disclosed during the year under review.

10. During the year no provision for depreciation is considered in the books since the assets were not put into use.

11 No provision has been made in accounts towards interest and penal interest for the year on the secured loans taken from Banks and Financial Institutions and unsecured loans from others, since the management is in the process of negotiating compromise and settlement/restructuring with the respective lenders. The amount of such non-provision and its consequential impact on the secured and unsecured loans, profit for the year and current liabilities are presently unascertainable (Previous Year - amount unascertainable).

12. In compliance with guidelines prescribed under Accounting Standard 26 Intangible Assets the company has written off Miscellaneous Expenditures amounting to Rs.249.95 Lacs during the financial year 2003-04 instead of writing off in ten years as per policy of the company.

13. Certain bank balances amounting to Rs.0.18 Lacs are subject to confirmation and / or reconciliation. Any adjustments consequent to such reconciliation vculd be considered in the account upon receipt of such confirmation and/or reconciliation.

14. During the year Company has not complied with the provisions as prescribed by Accounting Standard as 28 - Impairment of Assets issued by the Institute of Chartered Accountants of India and has not recognised any impairment in the value of certain assets, though conditions exists for the impairment of the same. The amount of such non recognition is presently unascertainable.

15 Deferred Taxation

a) Deferred tax as per Accounting Standard AS-22 issued by the Institute of Chartered Accountants of India is not considered in view of the Accumulated losses as per Income Tax Act 1961.

16. Related Party Desclosure:

In pursuance of Accounting Standard 18 pertaining to Related Party Disclosure issued by the Institute of Chartered Accountants of India and Based on available information, the disclosure are as under:

a) List of Related Parties and relationships:

Sr.No Relation Name of Party

i) Associates Concerns NEPC India Limited

NEPC Textiles Ltd. National Wind Power Corp. Ltd. Skyline NEPC Limited Sai Television Limited

ii) Subsidiaries & Fellow Subsidiaries None

iii) Key Management Personnel Mr. Ravi Prakash - Chairman

Mr. Rajkumar, Director

Mr. Tirupathi Kumar, Director

c) Salaries & Wages include Remuneration paid to key management personnel - Rs.Nil (Previous Period - Nil)

17. No provision has been made towards deterioration/ erosion, if any, in the value of inventories due to efflux of time, obsolescence and market conditions.

18. The previous Period accounts were prepared for 15 months and current year is 12 months from April 2008 to March 2009 hence the current year figures are not strictly comparable.

19. Auditors remuneration consists of the following:

e) FOB value of exports - Nil (Previous year - Nil)

f) CIF value of Imports-Nil (Previous year -Nil)

g) Expenditure in foreign Currency - Nil (Previous year - Nil)

20. Previous Period figures have been regrouped/ rearranged wherever considered necessary.

21. Balance sheet abstract and Companys General Business Profile as per part IV to Schedule VI to the Companies Act, 1956.

II) Capital Raised during the Period (Amount in Rs. Thousands)

Public Issue Right Issue

Nil Nil

Bonus Issue Private Placem

Nil Nil

V. Genetic Names of three Principal Products/Services of Company

(as per Monetary Terms)

Item Code No. (ITC Code) NA Product Description : Tea Plantation

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Oct 31, 2001

1. Sales - others, includes Power Generation income of Rs. 90.48 lakhs.

2. Gratuity: The Companys liability towards Gratuity to the Employees is covered by a Group Gratuity Policy with Life Insurance Corporation of India on the basis of premium paid on the above policy.

3. Preliminary Expenses have been amortised as per Section 35 D of the Income Tax Act, 1961.

4. The figures for the period have been regrouped/rearranged/ recast/rounded off wherever necessary to confirm for comparison purpose.

5. Unascertained liability on DPG default will be considered on actual payment basis.

6. Interest charges not provided for since restructuring of Loan including Interest is under progress with Banks & Financial Institutions.

7. Sundry DebtorsCreditorsLoans & Advances are subject to Confirmation and reconciliation

8. Contingent Liabilities

(a) Estimated amount of contracts remaining to be executed and not provided for: Rs.Nil lakhs

(b) Claims against the company not acknowledged as debts : Rs.677.61 lakhs.

(c) Contingent Liabilities that may arise on account of delayed / noncompliance of certain fiscal statues or contracts / agreements if any - Amount Unascertainable.

11. The assessment orders passed by the Income Tax Department has been disputed by the company for various disallowance which are prima facie unjustified and unacceptable to the company. Appeal has been preferred against the same for the A.Y 1993-94 to 1998- 99 and they are still pending.

13. Sales and Purchases of wheat and wheat products transacted are shown net.

16. Rs.299.52 lakhs has been incurred as operating Tea Business expenses.