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Notes to Accounts of Apollo Sindoori Hotels Ltd.

Mar 31, 2015

1. Background

Apollo Sindoori Hotels Limited. ("the Company"), a company incorporated under the Indian Companies Act at Chennai. The Company is in the business of managing food outlets at hospitals and reputed organisations. The Company also undertakes Outdoor Catering Services etc.

2. RELATED PARTY DISCLOSURE:

List of Related Parties as declared by the Management:

Nature of Relation Name of Related Party

Promoter Dr. Prathap.C.Reddy

Mr. P.Vijayakumar Reddy

Mrs. Suneeta Reddy

Mrs. Shobana Kamineni

Mrs. Sucharitha Reddy

Mrs. Sindoori Reddy

Key Management Personnel Mrs. Sucharitha Reddy

Joint Venture M/s Faber Sindoori Management Services (P) Ltd

Enterprise over which promoter or Key Management Personnel exercise Significant influence M/s Apollo Hospitals Enterprises Ltd

M/s Apollo Gleneagles Hospitals Ltd

M/s.Apollo Health & Lifestyle Ltd

M/s.Apollo Hospital International Limited

M/s Imperial Cancer Hospital & Research Center Ltd

M/s Lifetime Wellness Rx International Ltd

M/s PPN Power Generating Company Private Ltd.

3. OPERATING LEASE:

The Company has taken various premises on lease for its operations under operating lease or under lease and licence agreements. These lease are generally not non-cancellable and have an average life of 12 months to three years and are renewable by mutual consent.

Lease payments are recognized in profit and loss account under rent in Note 27:Other Expenses Lease payments under non-cancellable lease agreements.

4. EMPLOYEE BENEFITS

i. Defined Benefit Plan: a) Gratuity

5. Contingent Liability:

1. Corporate Guarantee to bank on behalf of Joint Venture enterprise for loan obtained by it. - Rs. Nil (Previous Year - Rs. 2,80,00,000)

2. Claim against the company/disputed liabilities not acknowledged as debts - Rs.13,92,680 (Previous Year - Rs.13,92,680)

5. The company has not received any declaration from its vendors under Micro, Small and Medium Enterprises Act 2006 and hence no disclosure as provided in the Act is feasible.

6. Figures for the previous year have been regrouped or rearranged wherever necessary.


Mar 31, 2013

BACKGROUND

Apollo Sindoori Hotels Limited. ("The Company"), a company incorporated under the Indian Companies Act at Chennai. The Company is in the business of managing food outlets at hospitals and reputed organisations. The Company also undertakes Outdoor Catering Services etc..

Note 1:

RELATED PARTY DISCLOSURE:

List of Related Parties

Nature of Relation Name of Related Party

Promoter Dr.Pratap.C.Reddy

Mr.P.Vijayakumar Reddy Mrs.Suneeta Reddy

Mrs.Shobana Kamineni

Mrs.Sucharitha Reddy

Mrs.Sindoori Reddy

Key Management Personnel Mrs.Sucharitha Reddy

Mrs.Sindoori Reddy

Joint Venture M/s Faber Sindoori Management Services (P) Ltd

Enterprise over which promoter or Key Management Personnel exercise

significant influence M/s Apollo Hospitals Enterprises Ltd

M/s Apollo Gleneagles Hospitals Ltd.

M/s Apollo Health & Lifestyle Ltd.

M/s Apollo Hospital International Limited

M/s Imperial Cancer Hospital & Research Center Ltd.

M/s Lifetime Wellness Rx International Ltd.

Note 2:

LEASES:

OPERATING LEASE:

The Company has taken various premises on lease for its operations under operating lease or under leave and licence agreements. These lease are generally not non-cancellable and have an average life of 12 months to three years and are renewable by mutual consent.

Note 3:

Contingent Liability:

1. Corporate Guarantee to bank on behalf of Joint Venture enterprise for loan obtained by it. - Rs. 2,80,00,000 (Previous Year - Rs. 2,80,00,000)

2. Claim against the company/disputed liabilities not acknowledged as debts - Rs. 13,92,680 (Previous Year Rs. 13,92,680)

Note 4: The company has not received any declaration from its vendors under Micro, Small and Medium Enterprises Act 2006

Note 5: The Board of Directors had decided to discontinue the operations of Travels Division from 31.03.2013 is also a separate segment as per Acounting Standard -17. This closure is consistent with the Long Term Strategy of the Company to focus its activities in the areas of "Food and Beverage"

Note 6:

Figures for the previous year have been regrouped or rearranged wherever necessary

 
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