| 1. Contingent Liabilities: There is no contingent liability.
2. Estimated amount of contracts remaining to be executed on capital
account and not provided for Rs. Nil (previous year Rs.15,564,000, net
of advances paid). There is no other commitment as at year end.
3. Related Party Disclosure
a. Entities having control
Castron Mining Limited - Holding company (w.e.f. 6th October 2012)
Chinmaya Steel and Power Limited - Intermediary holding company (w.e.f.
26th March 2014)
Chinmaya Holding Private Limited- Ultimate holding company (w.e.f. 26th
March 2014)
B L A Industries Private Limited - Ceased to be ultimate holding
company (w.e.f. 26th March 2014)
b. Companies in which Key Management Personnel (KMP) has significant
influence / control: Anup Malleables Limited - up to 10th January 2014
Mechanical & Electrical Engineering Co. Private Limited B L A
International Private Limited B L A Minerals Private Limited Dhanbad
Engineering Private Limited
c. Key Management Personnel (KMP)
Shri Devendra Kumar Agarwalla (Ceased to be Managing Director w.e.f.
13th August 2013) Shri Kamal Ghosh (Whole Time Director w.e.f. 29th May
2013)
d. Relatives of KMP
Mrs. Madhu Agarwalla (wife of Managing Director)
Shri Adarsh Agarwalla (Director - son of Managing Director)
Mrs. Dipanwita Ghosh (wife of Whole Time Director)
4. There are no employees (except Managing director who has waived
his right to receive managerial remuneration for the year) in the
Company as on 31st March 2015. Therefore disclosures are not
applicable under Accounting Standard 15 - 'Employee benefits'
(revised).
5. Segment reporting:
There are no reportable segments under Accounting Standard 17 "Segment
Reporting" as the primary operations comprise of only one segment i.e.
manufacturing of coke. Further there are no secondary / geographical
segments as the Company does its business only in India.
Deferred tax assets created only to the extent of deferred tax
liability.
6. The Company's business which was dependent on the commencement of
mining operation by its holding company. In view of the Hon'ble Supreme
Court's order cancelling coal block allocations of various companies
including the holding company, the Company is planning to initiate the
process of searching another project. Further, in the opinion of the
management, fixed assets are sufficiently and substantially depreciated
/ amortized and hence no adjustment would be required to its carrying
value. For the purpose of payment to the trade liabilities, Company
will be able get sufficient funds from holding company. Considering the
same, accounts are prepared on going concern basis.
7. Depreciation has been provided based on the Schedule II of the
Companies Act 2013 which has been effective from 1st April 2014.
Accordingly carrying value of fixed assets is depreciated over the
remaining useful life of the assets. Consequently, depreciation & loss
for the year ended is higher by Rs. 1,513,456.
8. Pending finalisation of another project as referred to in note 25
above, the Company is yet to appoint Chief financial officer and
Company secretary (key managerial personnel) as required by Section 203
of the Companies Act, 2013. Also the Company is in process of
appointing woman director in accordance with Section 149 of the
Companies Act, 2013.
9. The additional information as required by Para 5 of General
Instructions for preparation of Statement of Profit and Loss (other
than already disclosed above) are either Nil or Not Applicable.
10. Previous year figures are regrouped or rearranged wherever
considered necessary.
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