Annexure XIV Continued… - Edelweiss

8. Sindhu Realtors Private Limited (“SRPL”)
Cases filed against SRPL
Tax
1. SRPL v. Deputy Commissioner of Income Tax, Circle 8(1), New Delhi before CIT Appeals XI, New
Delhi for A.Y.2008-2009
Appeal No. 263/10-11 before CIT Appeal–XI, New Delhi
SRPL filed an appeal no. 263/10-11 before the CIT Appeal–XI, New Delhi on January 31, 2011 against the
assessment order dated December 30, 2010 passed by the Deputy Commissioner of Income Tax, Circle 8(1),
New Delhi. The assessing officer has disallowed interest under section 36(1)(iii) of the I.T. Act of ` 1.62
million; addition of notional interest of ` 1.39 million treated as interest income; ` 10.31 million on account of
deemed dividend under section 2(22)(e) of the I.T. Act. As a result, demand of ` 5.34 million was raised. An
amount of ` 2.52 million has been adjusted. The total amount involved in this appeal is ` 5.34 million and the
matter is currently pending
9. Unity Holding Business Limited (“UHBL”)
Cases filed against UHBL
Civil
1. Gimpex Limited v. UHBL for injunction of LC payment before the Madras High Court
Civil Suit No.569 of 2010 before the Chennai High Court
A civil suit no.569 of 2010 was filed on May 25, 2010 against UHBL by M/s. Gimpex Limited (“Gimpex”) in
the Madras High Court. UHBL supplied coal to Gimpex against the letter of credit issued by ING Vysa Bank
Limited and Bank of India Limited. The suit was filed to get a permanent injunction against the said banks
from remitting the money to Gimpex. The suit has been withdrawn by Gimpex and withdrawal order is
awaited.
10. Rajasthan Explosive and Chemicals Limited (“RECL”)
Cases filed against RECL
Criminal
State of Madhya Pradesh v. RECL
RECL is engaged in the activity of manufacturing and supplying of industrial explosive used in the mining and
other construction activities. It is alleged that RECL, between April 2010 to June 2010, supplied quantities in
excess of the permissible levels provided in the buyer’s license to some buyers.
The state of Madhya Pradesh registered an F.I.R no.161/2010 on July 13, 2010 under section 9B of Explosives
Act, 1884 (“Explosives Act”). After due investigation, the police filed charge sheet on November 18, 2010 for
offences punishable under sections 34, 420, 467, 468, 471, 120B, 201, of the IPC, sections 9-B, 9-C of the
Explosives Act and sections 4 and 6 of Explosive Substances Act, 1908 (“Explosive Substances Act”).
A second F.I. R no. 310/2010 was lodged at Police Station Chanderi, Madhya Pradesh by the local police on
August 26, 2010 under sections 9-B of the Explosives Act. After due investigation, the police filed charge
sheet on November 25, 2010 for offences under sections 34, 420, 467, 468, 471, 120B, 201, of the IPC,
sections 9-B, 9-C of the Explosives Act and sections 5 and 6 of Explosive Substances Act.
A third F.I. R. no. 427/2010 was lodged on September 05, 2010 under sections 5, 9-B and 9-C of the
Explosives Act. After due investigation, the police filed charge sheet on December 04, 2010 for offences under
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