Annual Report-FY 2011-12 - Timex Group India

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41. The Company’s foreign currency exposure on account of payables/ receivables not hedged is as follows:(Rs. in lakhs)Particulars As at 31 March 2012 As at 31 March 2011(in original (in Rupees) (in original (in Rupees)currency) currency)Payables- USD 94 4,900 77 3,474- EURO 29 20 -# 14- HKD 8 55 7 43- CHF - - - # 18Receivables- USD 9 468 6 265- CHF - - - # 15# Amount is below rounding off threshold adopted by the Company.42. Amount remitted during the year ended 31 March 2012 in foreign currency on account of dividend was Rs. 274 lakhs(previous year Rs. 274 lakhs).Non Resident shareholders Number of shares on which Year to which dividend relates(numbers)dividend was dueOne 41,100,000 2010-201143. The Company has established a comprehensive system of maintenance of information and documents as required bythe transfer pricing regulation under sections 92-92F of the Income-Tax Act, 1961. Since the law requires existence ofsuch information and documentation to be contemporaneous in nature, the Company continuously updates itsdocumentation for the international transactions entered into with the associated enterprises during the financial yearand expects such records to be in existence latest by such date as required under law. The management is of the opinionthat its international transactions are at arms length so that the aforesaid legislation will not have any impact on thefinancial statements, particularly on the amount of tax expense and that of provision for taxation.44. Managerial remuneration of Rs. 7 lakhs provided by the Company in the current year is in excess of the limits specifiedin the relevant provisions of the Companies Act, 1956 and the amount approved by the Central Government. Further, weare informed that as required by the relevant provisions of the Act, the Company is taking necessary steps to seekapproval from the Central Government for excess remuneration paid.45. Till the financial year ended 31 March 2011, the Company was using pre-revised Schedule VI to the Companies Act,1956, for preparation and presentation of its financial statements. During the year ended 31 March 2012, the revisedSchedule VI notified under the Companies Act, 1956, has become applicable to the company. The company has reclassifiedprevious year figures to conform to this year’s classification. The adoption of Revised Schedule VI for previous yearfigures does not impact recognition and measurement principles followed for preparation of financial statements.For and on behalf of the Board of Directors of Timex Group India LimitedFor B S R & Co.Chartered AccountantsFirm Registration No.: 101248WRakesh Dewan Kapil Kapoor V D Wadhwa Shilpa Verma Amit JainPartner Chairman Managing Director Company Secretary Head AccountsMembership No.: 092212Place: Gurgaon Place : Noida Place : Noida Place : Noida Place : NoidaDate: 31 May 2012 Date: 31 May 2012 Date: 31 May 2012 Date: 31 May 2012 Date: 31 May 201254
○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○○ ○ ○ ○ ○ ○ ○ ○ ○○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○ ○○ ○ ○ ○ ○ ○ ○ ○ ○○ ○ ○ ○ ○ ○ ○ ○Timex Group India Limited○ ○ ○ ○ ○ ○ ○ ○MembersBusiness ReplyName & Joint Name s : ………………………………………………………………………………....................Address:…………………….........………………………………………………………………………..............…DPID. : …………………………………………….……………………………………………………….................Client ID :………………………………………………………………………………………………….................○ ○ ○ ○ ○ ○ ○ ○Folio No.:………………………………………………………………………………………………….................(in case of physical holding)No.of equity shares held :…………………………………………(the period for which held)Signature of member(s)○ ○ ○ ○ ○ ○ ○ ○e-mail id for registration under “________________________________”.Note : In case you hold shares in demat mode, kindly get your email id updated with the depositoryparticipant where you are maintaining the demat accountMembers are requested to send this Business Reply Form to the address given overleaf.55
Page 5 and 6: and / or Agreement in such manner a
Page 9 and 10: working. He put in rigorous systems
Page 11 and 12: investments made by several Indian
Page 13 and 14: has sharpened its bell curve to imp
Page 15 and 16: REPORT ON CORPORATE GOVERNANCEYour
Page 17 and 18: Committee Membership1. Timex Group
Page 19 and 20: Reviewing the adequacy of internal
Page 21 and 22: The Committee was formed specifical
Page 23 and 24: Listing Fees : Listing fees as pres
Page 25 and 26: DEMATERIALISATION OF SHARESDemateri
Page 27 and 28: CERTIFICATETo the Members of Timex
Page 29 and 30: Annexure referred to in para 3 of t
Page 31 and 32: * Represents additions made to the
Page 33 and 34: Statement of Profit and Loss for th
Page 35 and 36: Notes to the financial statements f
Page 37 and 38: immediately in the Statement of Pro
Page 39 and 40: (Rs. in lakhs)Year endedYear ended3
Page 41 and 42: 5. Provisions Long-term Short-termY
Page 43 and 44: As at 31 March 2011(Rs. in lakhs)Gr
Page 45 and 46: Year endedYear ended31 March 2012 3
Page 47 and 48: Year endedYear ended31 March 2012 3
Page 49 and 50: . Other related parties with whom t
Page 51 and 52: 32. Value of imports on CIF basis(R
Page 53 and 54: 39. Segment informationThe Company
Page 55: 53(Rs. in lakhs)Particulars 2011-12

Annual Report-FY 2011-12 - Timex Group India

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