అకౌంట్స్ గమనికలుBagalkot Udyog Ltd.

Mar 31, 2013

Note 1. Contingent liabilities not provided for -

a) Guarantees given by the Company pursuant to the Joint Sector Agreement to Rajasthan Industrial & Investment Corporation for Rs.60 lacs for the financial assistance provided by them to Rajasthan Communications Limited, a Company under liquidation.

b) Demand for additional rent aggregating to Rs. 3990.33

Lacs (Including Interest of f 2034.51) raised by the Estate Officer (Air India Ltd.) in respect of the premises taken on Leave & Licence basis by the Company. The Company has disputed the said demand. The appeal is pending before the Hon''ble High Court against the order passed by the City Civil Court.

c) Demand raised by Govt. Of India under Cement Control (Regulation of Production) Order,- aggregating to Rs. 69.52 Lacs with interest @ 18% for manufacturing of colour cement by the Company. The Company has disputed the said demand. The review petition is pending before the Delhi High Court.

As per the Sanction Scheme of BIFR, the Company is liable to pay 10% of the crystallised dues as stated above (without any interest and other charges) to unsecured and contingent creditors.

2. Certain assets of erstwhile sugar division of the company were given on leave and licence basis to Kanoria Sugar & General Manufacturing Co Ltd (KSGM) under the scheme of arrangement for hiving off of the Sugar division of the Company. In terms of the said arrangement, KSGM was entitled to purchase these assets on or before 30.6.99 at a lumpsum value of Rs.10 lacs. The value of abovementioned assets stand fully depreciated in the books of the company.

3. Previous year''s figures have been regrouped / rearranged wherever necessary. The figures given in brackets are for the previous year.

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Mar 31, 2012

Note 1

Contingent liabilities not provided for -

a) Guarantees given by the Company pursuant to the Joint Sector Agreement to Rajasthan Industrial & Investment Corporation for Rs.60 lacs for the financial assistance provided by them to Rajasthan Communications Limited, a Company under liquidation.

b) Demand for additional rent aggregating to Rs. 3990.33 Lacs (Including Interest of Rs. 2034.51) raised by the Estate Officer (Air India Ltd.) in respect of the premises taken on Leave & Licence basis by the Company. The Company has disputed the said demand.

As per the Sanction Scheme of BIFR, the Company is liable to pay 10% of the crystallised dues (without any interest and other charges) to unsecured and contingent creditors.

Note 2.

Certain assets of erstwhile sugar division of the company were given on leave and licence basis to Kanoria Sugar & General Manufacturing Co Ltd (KSGM) under the scheme of arrangement for hiving off of the Sugar division of the Company. In terms of the said arrangement, KSGM was entitled to purchase these assets on or before 30.6.99 at a lumpsum value of Rs.10 lacs. The value of abovementioned assets stand fully depreciated in the books of the company.

Note 3

Previous year's figures have been regrouped / rearranged wherever necessary. The figures given in brackets are for the previous year.

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Mar 31, 2010

1. Related Party Disclosures

A) Particulars of Related parties which control or are under common control with the Company

Name Nature of Relationship

Tirupati Holdings Ltd. Associate Company

Pratap Holdings Ltd. Associate Company

Tirupati Screen Printing Co. Ltd. Associate Company

Bagalkot Cement & Industries Ltd Associate Company

U.P.Investment Associate Firm

B) Related party relations are identified by the company and relied upon by the Auditors.

C) Transaction with Related Parties with Associate company.

Associate Company Current Previous

Year Year

Rs. In 000 Rs.in 000

Advance Given Nil 673



2. Contingent liabilities not provided for -

a) Guarantees given by the Company pursuant to the Joint Sector Agreement to Rajasthan industrial & Investment Corporation for Rs.60 lacs for the financial assistance provided by them to Rajasthan Communications Limited, a Company under liquidation.

b) Demand for additional rent aggregating to Rs. 3990.33 Lacs (Including Interest of Rs. 2034.51) raised by the Estate Officer (Air India Ltd.) in respect of the premises taken on Leave & Licence basis by the Company. The Company has disputed the said demand.

As per the Sanction Scheme of BIFR, the Company is liable to pay of the crystallised dues (without any interest and other charges) to unsecured and contingent creditors.

3. Certain assets of erstwhile sugar division of the company were given on leave and licence basis to Kanoria Sugar & General Manufacturing Co Ltd (KSGM) under the scheme of arrangement for hiving off of the Sugar division of the Company. In terms of the said arrangement, KSGM was entitled to purchase these assets on or before 30.6.99 at a lumpsum value of Rs.10 lacs. The value of abovementioned assets stand fully depreciated in the books of the company.

4. There are no dues payable to Micro, Small and Medium Enterprises as at the year end. This information as required to be disclosed under the Micro, Small and Medium Enterprise Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

5. Extra ordinary Item-As per BIFR scheme Company has to pay 10% of total outstanding dues (without any interest and other charges) to unsecured and contingent creditors. Notice received from Rajasthan Financial Corporation for Principal outstanding of Rs. 22.04 lacs for Guarantees given by the Company for the financial assistance provided by them to Rajasthan Communications Limited, a Company under liquidation. Company has provided Rs. 2.21 Lacs as 10% principal Outstanding.

6. Previous years figures have been regrouped / rearranged wherever necessary. The figures given in brackets are for the previous year.