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NOTES TO ACCOUNTS

Cochin Malabar Estates & Industries Ltd.

You can view the entire text of Notes to accounts of the company for the latest year
Market Cap. (₹) 10.93 Cr. P/BV -10.27 Book Value (₹) -6.01
52 Week High/Low (₹) 62/45 FV/ML 10/1 P/E(X) 0.00
Bookclosure 09/09/2019 EPS (₹) 0.00 Div Yield (%) 0.00
Year End :2015-03 
Note : 1

a) There is no movement in the equity shares outstanding at the beginning and at the end of the year.

b) The Company has only one class of issued shares i.e. Equity Shares having par value of Rs. 10/- per share. Each holder of Ordinary Shares is entitled to one vote per share and equal right for dividend. The dividend proposed by the Board of Directors is subject to the approval of shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the ordinary shareholders are eligible to receive the remaining assets of the Company after payment of all preferential amounts, in proportion to their shareholding.

c) No Equity Shares have been reserved for issue under options and contracts/commitments for the sale of shares/ disinvestment as at the Balance Sheet date

d) No shares have been bought back by the Company during the period of 5 years preceding the date as at which the Balance Sheet is prepared.

e) No securities convertible into Equity/Preference shares issued by the Company during the year.

f) No calls are unpaid by any Director or Officer of the Company during the year.

Note : 2

                                                       (Amount in Rs.)

                                                2014-15         2013-14
A. Contingent Liabilities not provided for in respect of :

a) Claims against the company not acknowledged as debts:

- Central Sales Tax                             213,331         213,331
Note : 3

A. During the year the Company has recognized the profit on sale of a property situated at Goa as necessary formalities with respect to its transfer has been duly completed.

B. The management is of the view that the Goa property sold by the Company during the year is Agricultural Land. As per the provisions of the Income Tax Act, 1961 Capital Gains Tax is not applicable on the profits arising from the sale of Agricultural Land, hence no provision for Income Tax is required to be made on the said profits.

C. In an earlier year the Company had received entire sale consideration in respect of sale of Kinalur Estate and recognized the profit on its sale in accordance with the terms of the revised settlement agreement. Except in certain cases, the process of registration of Land in the name of the respective buyers has also been completed.

D. The Company has not recognized deferred tax assets during the year in absence of virtual certainity of future taxable income.

E. Related party disclosures as required by AS 18 "Related Party Disclosures" are given below :

Relationship:

a) Company having significant influence in TCMEIL (by virtue of having more than 20% voting rights) Joonktollee Tea & Industries Ltd. (JTIL)

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