Download the Annual Report for 2010-11. - kiocl limited
Download the Annual Report for 2010-11. - kiocl limited
Download the Annual Report for 2010-11. - kiocl limited
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Schedules (Contd.)Schedule 16NOTES FORMING PART OF THE ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2011Year ended Year ended31-03-2011 31-03-<strong>2010</strong>1. Pending execution of Lease Deed with New MangalorePort Trust <strong>for</strong> certain tracts of land, provision hasbeen made <strong>for</strong> <strong>the</strong> Registration charges and Stampduty, which is estimated at ` 4.35 Lakhs (Previousyear ` 119.92 Lakhs). The expenditure incurred isamortised over <strong>the</strong> period of lease. Lease Rentalsare charged to Profit and Loss Account on accrualbasis.The Company has registered following tracts of landtaken on lease during <strong>the</strong> year. The period of leaseand rental obligation <strong>for</strong> <strong>the</strong> remaining period oflease are as follows :Track of land Period of lease Rental obligationRemaining (`/Lakhs)Period not later than five years:Track 1 21270 sqm 20.7.10 to 20.7.2012 50.74Track 2 27008 sqm 17.2.11 to 16.2.2014 144.08Period later than five years:Track 1 213783 sqm 20.7.97 to 19.7.2017 2,580.44Track 2 113497 sqm 20.4.99 to 19.4.2019 4,424.88Track 3 300 sqm 01.4.11 to 31.3.2029 <strong>11.</strong>66Track 6 1190 sqm 01.8.10 to 31.7.2029 47.26Track 7 475 sqm 01.7.10 to 30.6.2028 1.17Track 8 48 sqm 01.5.10 to 30.4.2028 <strong>11.</strong>61` in Lakhs2. (A) Estimated amount of <strong>the</strong> contracts to be 4,440.28 1,664.52executed on capital account and not provided<strong>for</strong> (net of advances)(B) Contingent liabilities not provided <strong>for</strong> :(a) In respect of - Letter of Credit and BankGuarantees etc., outstanding(i) On Revenue Account 2,979.83 29<strong>11.</strong>99(ii) On Capital Account 7,230.87 Nil(b) Claims against <strong>the</strong> Company notacknowledged as debts(i) On Revenue Account 11,051.97 3,189.86(ii) On Capital Account 16,845.48 16,199.2497