| 1. Contingent Liabilities
a. Estimated amount of contracts remaining to be executed on capital
account not provided for (Net of Advance) is Rs.192.06 (Rs in Lacs)
2. Terms of Redemption.
a. The 14% Redeemable cumulative taxable Preference Shares are
redeemable at par at any time after the date of issue but before the
expiry of ten years from the date of issue. Earliest redemption month
February 99.
b.The 17.5% Redeemable cumulative taxable Preference Shares are
redeemable at par at any time after the date of issue but before the
expiry of ten years from the date of issue. Earliest redemption month
July 2003.
c. The 16.5% Redeemable cumulative taxable Preference Shares are
redeemable at par at any time after the date of their issue date but
before the expiry of 15 months from the date of issue. Earliest
redemption month March 97.
d.Preference shares, which have fallen due for redemption long ago,
could not be redeemed due to inadequate Profits and non issuance of
additional shares.
e. Preference Share Redemption Reserve has not been created for the
last 10 accounting periods due to inadequate Profits.
3. Reserves on account of Share premium of Rs.1652.16 Does not include
arrears in share premium amounting to Rs.6.58 Lacs due from
Shareholders other than directors.
4. Details of Secured Loans & Security
a) Term Loan from Punjab National Bank for Refurnishing of hotel&
Acquiring of Annexure building . Secured by first mortgage and charge
on all immovable and movable properties of the Company both present and
future and guaranteed by Managing Director, Joint Managing Director and
Executive Director.
5. 7 Year National Saving Certificate 1995 has been lodged with the
Sales Tax Authorities, Kerala as Sales Tax Deposit.
6. Confirmation of balances has not been received from Creditors and
Debtors.
7 . Other advances / Deposits include Rs.25 Lacs paid as Lease Deposit
for purchase of land and building for the Hotel Division.
8. In the absence of adequate profits the remuneration paid to
Managing Director is within the limits prescribed as minimum
remuneration in Schedule XIII of the Companies Act.
9. There is no amount due to SSI Units, pending for more than 30 days
and above Rs.1.00 Lac.
10. Previous year figures have been regrouped and rearranged wherever
necessary, to confirm to current period's figures.
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