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Notes to Accounts of Aishwarya Technologies And Telecom Ltd.

Mar 31, 2015

1. SHARE CAPITAL

a) Terms attached to equity shares

The company has one class of equity shares having a par value of Rs.5/- per share. Each shareholder is eligible for one vote per share held. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amounts, in proportion to their shareholdings.

2. Contingent Liabilities not provided for:

Current Year Previous Year Rs. Lakhs Rs. Lakhs

a. Bank Guarantees 212.21 346.10

b. Letter of Credit 421.44 718.27

c. Disputed Sales Tax Liability 19.06 19.06

3. There are no separate reportable segments (business and/or geographical) in accordance with the requirements of Accounting Standard 17 - 'Segment Reporting', specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts ) Rules, 2014.

4. Transactions with the Related Parties pursuant to Accounting Standard 18:

i. List of Related Parties

Subsidiary Company : Bhashwanth Power Projects Pvt. Ltd., Associate Companies / Firms (including Companies / firms Controlled by key management Personnel / relatives who are sub- stantially interested) : Nil

Key Management Personnel : Mr. G. Rama Krishna Reddy, Chairman Mr. G. Rama Manohar Reddy, Managing Director Mrs. G. Amulya Reddy, Whole Time Director

In compliance with the Accounting Standard "AS-22 Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the company has recognized Rs.1,09,652/-towards deferred tax asset in the year 2014-15. The major components of deferred tax assets and liabilities are arising on account of timing differences in depreciation and carried forward of losses.

5. Depreciation as per Companies Act, 2013

Useful life of various assets was revised in accordance with schedule II of the companies Act 2013. The Change in useful life resulted in the completion of useful life of certain fixed assets before 31.03.2014. The carrying amount of the assets after retaining the salvage value was transferred to the retained earnings in the current year. The amount of which is Rs.6,73,708/-

6. Cash Flow statement has been prepared under indirect method as per Accounting Standard - 3" Cash Flow Statements".

7. Sundry Debtors, Sundry Creditors, Advance for Supplies and Deposits subject to confirmation with the respective parties / authorities.

8. Foreign Exchange Earnings & Out Go:

- Foreign Exchange Earnings - Rs. 87.40 Lakhs (Previous year Rs.72.38 Lakhs)

- Foreign Exchange Outgo - Rs.4802.69 lakhs (Previous year - Rs.671.88 lakhs)

9. Paise have been rounded off the nearest rupee. Previous year figures have been regrouped wherever if thought necessary in conformity with the Current year groupings.

Notes to the financial statements and statement on accounting policies form an integral part of the Balance Sheet, Statement of profit and Loss and Cash Flow Statement.




Mar 31, 2014

Contingent Liabilities not provided for: Current Year Previous Year Rs. Lakhs Rs. Lakhs

a. Bank Guarantees 346.10 211.79

b. Letter of Credit 718.27 192.68

c. Disputed Sales Tax Liability 19.06 19.06

NOTE NO. 1

Particulars of employees required under section 217(2A) of the companies Act, 1956 and the rules framed there under is not applicable as none of the employees are in receipt of gross remuneration as per the details prescribed in these rules.

NOTE NO. 2

Paise have been rounded off to the nearest rupee. Previous year figures have been regrouped wherever if thought necessary in conformity with the Current year groupings.

There are no separate reportable segments (business and/or geographical) in accordance with the requirements of Accounting Standard 17 - ''Segment Reporting'', notified in the companies (Accounting Standards) Rules 2006.

NOTE NO. 3

Transactions with the Related Parties pursuant to Accounting Standard 18:

i. List of Related Parties

Subsidiary Company : Bhashwanth Power Projects Pvt. Ltd.,

Associate Companies / Firms (including Companies / firms Controlled by key management Personnel / relatives who are sub- stantially interested) : Nil

Key Management Personnel : Mr. G. Rama Krishna Reddy, Chairman

Mr. G. Rama Manohar Reddy, Managing Director Mrs. G. Amulya Reddy, Whole Time Director

ii. Transactions with Related Parties

a) Remuneration to Directors : Rs.51,00,000/-

b) Loan taken from Directors : Rs.93,08,263/-

NOTE NO. 4

Outstanding dues to Micro small and medium enterprises under the MSME development act, 2006 have been determined based on the information available with the company and the required disclosures are given below.

NOTE NO. 5

In compliance with the Accounting Standard "AS-22 Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the company has additionally provided Rs.53,44,802/-towards deferred tax liability in the year 2013-14. The major components of deferred tax assets and liabilities are arising on account of timing differences in depreciation and carried forward of losses.

NOTE NO. 6

Cash Flow statement has been prepared under indirect method as per the Accounting Standard - 3" Cash Flow Statements".

NOTE NO. 7

Sundry Debtors, Sundry Creditors, Advance for Supplies and Deposits are subject to confirmation with the respective parties / authorities.

NOTE NO. 8

Foreign Exchange Earnings & Out Go:

- Foreign Exchange Earnings - Rs. 72.38 Lakhs/- (Previous year Rs.NIL)

- Foreign Exchange Outgo - Rs.671.88 lakhs (Previous year - Rs.1560.88 lakhs)

Notes to the financial statements and statement on accounting policies form an integral part of the Balance Sheet, Statement of profit and Loss and Cash Flow Statement.


Mar 31, 2013

NOTE NO. 1

Contingent Liabilities not provided for:

Current Year Previous Year Rs. Lakhs Rs. Lakhs

a. Bank Guarantees 211.79 518.65

b. LetterofCredit 192.68 777.13

c. Disputed Sales Tax Liability 19.06 19.06

NOTE NO. 2

Particulars of employees required under section 217(2A) of the companies Act, 1956 and the rules framed there under is not applicable as none of the employees are in receipt of gross remuneration as per the details prescribed in these rules.

NOTE NO. 3

Paise have been rounded off to the nearest rupee. Previous year figures have been regrouped wherever if thought necessary in conformity with the Current year groupings.

NOTE NO. 4

There are no separate reportable segments (business and/or geographical) in accordance with the requirements of Accounting Standard 17 – ‘Segment Reporting'', notified in the companies (Accounting Standards) Rules 2006.

NOTE NO. 5

In compliance with the Accounting Standard "AS-22 Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the company has recognized Rs.1,14,74,733/- towards deferred tax asset in the year 2012-13. The major components of deferred tax assets and liabilities are arising on account of timing differences in depreciation and carried forward of losses.

NOTE NO. 6

Cash Flow statement has been prepared under indirect method as per the Accounting Standard – 3" Cash Flow Statements".

NOTE NO. 7

Sundry Debtors, Sundry Creditors, Advance for Supplies and Deposits are subject to confirmation with the respective parties / authorities.

NOTE NO. 8

Foreign Exchange Earnings & Out Go:

- Foreign Exchange Earnings – Rs. NIL (Previous year Rs.NIL)

- Foreign Exchange Outgo – Rs.1560.88 lakhs (Previous year – Rs. 1198.53 lakhs)

Notes to the financial statements and statement on accounting policies form an integral part of the balance sheet, profit and Loss Statement and cash flow statement.


Mar 31, 2012

NOTE NO. 1

Particulars of employees required under section 217(2A) of the companies Act, 1956 and the rules framed there under is not applicable as none of the employees are in receipt of gross remuneration as per the details prescribed in these rules.

NOTE NO. 2

Paise have been rounded off to the nearest rupee. Previous year figures have been regrouped wherever if thought necessary in conformity with the Current year groupings.

NOTE NO. 3

There are no separate reportable segments (business and/or geographical) in accordance with the requirements of Accounting Standard 17 " Segment Reporting , notified in the companies (Accounting Standards) Rules 2006.

NOTE NO. 4

In compliance with the Accounting Standard AS-22 Accounting for Taxes on Income Issued by the Institute of Chartered Accountants of India, the company has recognized Rs.17,81,484/- towards deferred tax asset in the year 2011-12. The major components of deferred tax assets and liabilities are arising on account of timing differences in depreciation.

NOTE NO. 5

Cash Flow statement has been prepared under indirect method as per the Accounting Standard "3" Cash Flow Statements

NOTE NO. 6

Sundry Debtors, Sundry Creditors, Advance for Supplies and Deposits are subject to confirmation with the respective parties / authorities.

NOTE NO. 7

Foreign Exchange Earnings & Out Go:

- Foreign Exchange Earnings - Rs. NIL (Previous year Rs.NIL)

- Foreign Exchange Outgo - Rs.1198.53 lakhs (Previous year" Rs. 699.73 lakhs)


Mar 31, 2011

1. Contingent Liabilities not provided for:

Current Year Previous Year Rs. Lakhs Rs. Lakhs

a. Bank Guarantees 385.00 386.00

b. Letter of Credit 556.58 378.93

c. Disputed Income Tax Liability 178.15 -

d. Disputed Sales Tax Liability 19.06 19.06

2. The company has set up an industrial undertaking at Yanam, State of Pondicherry under Section 80IB and Dehradun State of Uttarakhand under Section 80IC under backward states. The company has also registered with Director of Industries and Commerce. As per provisions of Section 80 IB, the company is eligible for deduction at 100% profit earned for the unit for a period of 5 years and 30% of profits for the next 5 years for both the units. Therefore, the provision for tax has been made after claiming the deduction under section 80IB & IC.

3. Cash Credit from State Bank of Hyderabad is secured by Hypothecation of raw materials, semi-finished, finished goods and sundry debtors of the company and guaranteed by directors of the company in their personal capacities.

4. Short Term Working Capital Loans from Banks and Financial Institutions mentioned under Schedule - D are not charged with any assets of the company but these loans are secured by the personal guarantees of directors.

5. Particulars of employees required under section 217(2A) of the companies Act, 1956 and the rules framed there under is not applicable as none of the employees are in receipt of gross remuneration as per the details prescribed in these rules.

6. Paise have been rounded off to the nearest rupee. Previous year figures have been regrouped wherever if thought necessary in conformity with the Current year groupings.

7. There are no separate reportable segments (business and/or geographical) in accordance with the requirements of Accounting Standard 17 - 'Segment Reporting', notified in the companies (Accounting Standards) Rules 2006.

8. Transactions with the Related Parties pursuant to Accounting Standard 18 :

i. List of Related Parties

Subsidiary Company : Bhashwanth Power Projects Associate Companies/Firms Pvt. Ltd., (including Companies/firms Controlled by key management Personnel/relatives who are sub- stantially interested)

Key Management Personnel : Mr. G. Rama Krishna Reddy, Chairman

Mr. G. Rama Manohar Reddy, Managing Director

Mrs. G. Amulya Reddy, Whole Time Director

ii. Transactions with Related Parties

Remuneration to Directors Rs. 37,00,000/-

9. In compliance with the Accounting Standard " AS-22 Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the company has recognized Rs.24,42,903/- towards deferred tax asset in the year 2010-11. The major components of deferred tax assets and liabilities arising on account of timing differences in depreciation.

10. Cash Flow statement has been prepared under indirect method as per the Accounting Standard - 3" Cash Flow Statements".

11. Sundry Debtors, Sundry Creditors, Advance for Supplies and Deposits are subject to confirmation with the respective parties / authorities.

12. Foreign Exchange Earnings & Outgo:

- Foreign Exchange Earnings - Rs. NIL (Previous year Rs.47.57 lakhs)

- Foreign Exchange Outgo - Rs.699.73 lakhs (Previous year - Rs. 2225.50 lakhs)


Mar 31, 2003

1. Particulars of employees required under section 217 (2A) of the companies Act 1956 and the rules framed there under is not applicable as none of the employees are in receipt of gross remuneration as per the details prescribed in these rules.

2. Paise have been rounded off to the nearest rupee. Previous year figures have been regrouped wherever if thought necessary in conformity with the Current year groupings.

3. Segment Reporting as per AS-17 is not applicable to this company.

4. Earning per Share

The numerators and denominators used for calculation of EPS-

5. In compliance with the Accounting Standard - AS-22 relating to "Accounting for taxes on Income" issued by the Institute of Chartered Accountants of India, the company has adjusted the deferred tax liability (net) arising out of timing differences for the period upto 31-03-2002 of Rs. 2,43,071 adjusted in the Profit & Loss Appropriation account and deferred tax liability accrued during the year aggregating to Rs. 2,89,703 has been recognized in the Profit & Loss Account. The major components of deferred tax assets and liabilities arising on account of timing differences In depreciation.

6. Other advances. Sundry Debtors, Sundry Creditors and advance from customers are subject to confirmation with the respective parties.

Notes : Schedules and statement on accounting policies form an integral part of the balance sheet and profit and loss account.

 
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