| 1. Sundry debtors and creditors are subject to confrmations.
2. a) Construction Work at Vizag:
The Company has entered into a License agreement with APSRTC for
construction of Commercial Complex at Dwarakanagar Bus Station, Vizag
on BOT basis for 30 years. The company has entered into an agreement
with M/s. Trinethra Infra Ventures Ltd., (TIVL), Hyderabad for
construction of the said Commercial Complex and the value of works
completed as on 31-03-2013 was Rs. 567.26 Lakhs.
(b) Construction Work at Vijayawada:
The Company has entered into a License agreement with APSRTC for
construction of Commercial Complex at Old Bus stand, Vijayawada on BOT
basis for 30 years. However, the Municipal Corporation of Vijayawada
did not accord its permission for the construction of commercial
complex at the allotted premises on the ground that the premises comes
under Transport Zone but not of Commercial Zone. The company has
already requested the said local authority to convert the premises into
Commercial Zone from Transport Zone. Aggrieved by the decision of the
Municipal Corporation Vijayawada, the company fled a Writ Petition vide
W.P No. 14449/09 before the Honourable High Court of Andhra Pradesh
which is pending for disposal. Keeping the dispute in view the company
is not paying the License fees to be payable as per the BOT agreement
with the APSRTC. However, the company is regular in making the required
provisions in the books of account.
3. Investment in Vaibhav Skyscapes Ltd.,
During the Financial year 2008-09, the company has transferred all its
interest and investments in M/s. Vaibhav Skyscapes Pvt. Ltd., to
Vaibhav Empire Pvt. Ltd., and the formalities for the registration of
the same are still pending.
4. Hotel and Other Division:
The requirement regarding furnishing of quantitative details is not
required to Hotel Division and Other Divisions, since they belong to
service industry.
5. Previous years's fgures have been regrouped/reclassifed wherever
necessary to confrm to the current year's classifcation.
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