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Accounting Policies of Asahi Infrastructure & Projects Ltd. Company

Mar 31, 2015

1.1 Accounting convention

Financial statements are prepared under the historical cost convention on accrual basis in accordance with the Indian Generally Accepted Accounting Principles (IGAAP) comprising the Accounting standards Notified under Companies Accounting Standards Rules 2006 by the Central Government of India under section 211(3C) of the Companies Act 1956.

1.2 Use of Estimates

The preparation of financial statements in conformity with IGAAP requires management to make estimates and assumptions that affect the reported amount of assets, liabilities, revenues and Expenses and disclosure of contingent liabilities on the date of financial statements. Examples of such estimates and assumptions include useful lives of fixed assets and Intangible assets, taxes, Provision for doubtful debts, anticipated obligations under employee retirement plans, etc.

The recognition, measurement, classification or disclosures of an item or information in the financ Statements have been made relying on these estimates to a greater extent. Actual results could differ from those estimates

1.3. Revenue Recognition

Income from General Trading of goods, Construction of Housing units as well as Infrastructure business. Interest Income is recognized based on time proportion and on gross basis.

1.4. Fixed Assets

Fixed assets are stated at cost less accumulated depreciation. Cost includes all identifiable Expenditure to bring the assets to its present location and condition for intended use.

Intangible assets are stated at the consideration paid for the purchase /acquisition less accumulate Amortization.

1.5. Depreciation

Depreciation on Fixed Assets has been provided on straight-line method and for certain fixed asset at written down value method at the rates specified in Schedule XIV of the Companies Act, 1956. Depreciation on addition/deletion of assets during the year is provided on a pro-rata basis.

1.6. Investments

Investments are valued at cost of acquisition and include brokerage fees and incidental expenses, Wherever applicable. Investments are classified as long term and are carried at cost with an Appropriate provision of permanent diminution in value. Investments made in the wholly/partly Owned subsidiaries are valued at cost of acquisition including the acquisition expenses relating to

1.7. Taxation

Provision for current tax is based on tax liability computed in accordance with relevant tax rates and tax laws. If/Provision for deferred tax is made for all timing differences arising between taxabl incomes and accounting Income at rates that have enacted or substantively enacted as of the balai

1.8 .Foreign Exchange Transaction

Transactions in Foreign Currency are converted at the rates prevailing on the date of the transact: Monetary assets and liabilities (for eg. Cash, receivables, payables etc) denominated in foreign currency are translated into Indian Rupees at the rate of exchange prevailing at the balance sheet date.

1.9. Deferred Revenue Expenditure

Amount paid for the purchase of contracts relating to the medical transcription and coding have be amortized and shall be written off over a period of 3 years being the period of contract. The expenditure incurred for the training of the new employees has been amortized and shall be writte off over a period of 5 years.

1.10. Inventories

Inventories are vaslued at lower cost and net realizable value., cost being ascertained on the follow basis. Cost includes taxes and is net of eligible credit under VAT Schemes.

1.11. Lease

Leasees wherein a significant portion of the ricks and reward of ownership are retained by the less are classified as opreating leases.Leases rentails in respects of such leases are charged to the profi loss account.

1.12. Employee benefits

Contrubution to defined contribution scheme such as provident fund, superannuation fund etc, are charged to statements of Profit and Loss/ cpaital Work in progress, as appliacble. The compnay also provided for retirment benefit in the form of gratuity and leave incashment. Such defined ben are charged to Statements of Profit & Loss / Capital Work -in- Progress, as applicable, based on actuarial valuation, as at the balance sheet date, made by independent actuaries.

1.13 Financial Statements: Presentation and disclosures

During the year ended March 31,2015 the Revised Shedule VI notified under the Companies Act, 1956, has become applicable to the Compnay, for preparation and presantation of its financial statements.

1.14 Related Party Disclosure

1) Group Copanies where common control exit.

a) Shri. Ramdeobaba Charitable Society

b) Asahi Pre- Fab Private Ltd

c) Assara

2) Key Management Personnel

a) Laxminarayan J.Rathi :- Managing Director

b) Paresh L. Rathi :- Whole Time Director

c) Yasmin Khan :- Director

d) Venketrao Karri :- Director

e) Nilesh Bhaiya :- Director

1.15 Director Remuneration/Allowances

a) Laxminarayan J.Rathi :- Managing Director :- Rs.2400000/- 1.15

(b) Director Sitting Fees

a) Yasmin Khan :- Director :- Rs.40000/-

b) Venketrao Karri :- Director :- Rs.40000/-

c) Nilesh Bhaiya :- Director :-Rs.40000/-


Mar 31, 2014

1.1 Accounting convention

Financial statements are prepared under the historical cost convention on accrual basis in accordance with the Indian Generally Accepted Accounting Principles (IGAAP) comprising the Accounting standards Notified under Companies Accounting Standards Rules 2006 by the Central Government of India under section 211(3C) of the Companies Act 1956.

1.2 Use of Estimates

The preparation of financial statements in conformity with IGAAP requires management to make estimates and assumptions that affect the reported amount of assets, liabilities, revenues and Expenses and disclosure of contingent liabilities on the date of financial statements. Examples of such estimates and assumptions include useful lives of fixed assets and Intangible assets, taxes, Provision for doubtful debts, anticipated obligations under employee retirement plans, etc. The recognition, measurement, classification or disclosures of an item or information in the financial Statements have been made relying on these estimates to a greater extent. Actual results could differ from those estimates

1.3. Revenue Recognition

Income from General Trading of goods, Construction of Housing units as well as Infrastructure business. Interest Income is recognized based on time proportion and on gross basis.

1.4. Fixed Assets

Fixed assets are stated at cost less accumulated depreciation. Cost includes all identifiable Expenditure to bring the assets to its present location and condition for intended use.

Intangible assets are stated at the consideration paid for the purchase /acquisition less accumulated Amortization.

1.5. Depreciation

Depreciation on Fixed Assets has been provided on straight-line method and for certain fixed assets at written down value method at the rates specified in Schedule XIV of the Companies Act, 1956. Depreciation on addition/deletion of assets during the year is provided on a pro-rata basis.

1.6. Investments

Investments are valued at cost of acquisition and include brokerage fees and incidental expenses, Wherever applicable. Investments are classified as long term and are carried at cost with an Appropriate provision of permanent diminution in value. Investments made in the wholly/ partly Owned subsidiaries are valued at cost of acquisition including the acquisition expenses relating to it.

1.7. Taxation

Provision for current tax is based on tax liability computed in accordance with relevant tax rates and tax laws. If/Provision for deferred tax is made for all timing differences arising between taxable incomes and accounting Income at rates that have enacted or substantively enacted as of the balance sheet.

1.8 .Foreign Exchange Transaction

Transactions in Foreign Currency are converted at the rates prevailing on the date of the transaction. Monetary assets and liabilities (for eg. Cash, receivables, payables etc) denominated in foreign currency are translated into Indian Rupees at the rate of exchange prevailing at the balance sheet date.

1.9. Deferred Revenue Expenditure

Amount paid for the purchase of contracts relating to the medical transcription and coding have been amortized and shall be written off over a period of 3 years being the period of contract. The expenditure incurred for the training of the new employees has been amortized and shall be written off over a period of 5 years.

1.10. Inventories

Inventories are vaslued at lower cost and net realizable value., cost being ascertained on the following basis. Cost includes taxes and is net of eligible credit under VAT Schemes.

1.11. Lease

Leasees wherein a significant portion of the ricks and reward of ownership are retained by the lessor are classified as opreating leases.Leases rentails in respects of such leases are charged to the profit and loss account.

1.12. Employee benefits

Contrubution to defined contribution scheme such as provident fund, superannuation fund etc, are charged to statements of Profit and Loss/ cpaital Work in progress, as appliacble. The compnay also provided for retirment benefit in the form of gratuity and leave incashment. Such defined benefit are charged to Statements of Profit & Loss / Capital Work -in- Progress, as applicable, based on actuarial valuation, as at the balance sheet date, made by independent actuaries.

1.13 Financial Statements: Presentation and disclosures

During the year ended March 31,2014 the Revised Shedule VI notified under the Companies Act, 1956, has become applicable to the Compnay, for preparation and presantation of its financial statements.


Mar 31, 2012

1.1 Accounting convention

Financial statements are prepared under the historical cost convention on accrual basis in accordance with the Indian Generally Accepted Accounting Principles (IGAAP) comprising the Accounting standards Notified under Companies Accounting Standards Rules 2006 by the Central Government of India under section 211(3C) of the Companies Act 1956.

1.2 Use of Estimates

The preparation of financial statements in conformity with IGAAP requires management to make estimates and assumptions that affect the reported amount of assets, liabilities, revenues and expenses and disclosure of contingent liabilities on the date of financial statements. Examples of such estimates and assumptions include useful lives of fixed assets and Intangible assets, taxes, provision for doubtful debts, anticipated obligations under employee retirement plans, etc. The recognition, measurement, classification or disclosures of an item or information in the financial statements have been made relying on these estimates to a greater extent. Actual results could differ from those estimates.

1.3. Revenue Recognition

Income from General Trading of goods, Construction of Housing units as well as Infrastructure business. Interest Income is recognized based on time proportion and on gross basis. ‘

1.4. Fixed Assets

Fixed assets are stated at cost less accumulated depreciation. Cost includes all identifiable expenditure to bring the assets to its present location and condition for intended use.

Intangible assets are stated at the consideration paid for the purchase /acquisition less accumulated amortization.

1.5. Depreciation

Depreciation on Fixed Assets has been provided on straight-line method and for certain fixed assets at written down value method at the rates specified in Schedule XIV of the Companies Act, 1956. Depreciation on addition/deletion of assets during the year is provided on a pro-rata basis.

1.6. Investments

Investments are valued at cost of acquisition and include brokerage fees and incidental expenses, wherever applicable. Investments are classified as long term and are carried at cost with an appropriate provision of permanent diminution in value. Investments made in the wholly/partly owned subsidiaries are valued at cost of acquisition including the acquisition expenses relating to it.

1.7. Taxation

Provision for current tax is based on tax liability computed in accordance with relevant tax rates and tax laws. If/Provision for deferred tax is made for all timing differences arising between taxable incomes and accounting Income at rates that have enacted or substantively enacted as of the balance sheet date. Deferred tax assets are recognized only if there is a reasonable certainty that they will be realized in feature.

1.8 .Foreign Exchange Transaction

Transactions in Foreign Currency are converted at the rates prevailing on the date of the transaction. Monetary assets and liabilities (for eg. Cash, receivables, payables etc) denominated in foreign currency are translated into Indian Rupees at the rate of exchange prevailing at the balance sheet date.

1.9. Deferred Revenue Expenditure

Amount paid for the purchase of contracts relating to the medical transcription and coding have been amortized and shall be written off over a period of 3 years being the period of contract. The expenditure incurred for the training of the new employees has been amortized and shall be written off over a period of 5 years.

1.10. Inventories

Inventories are valued at lower cost and net realizable value. Cost being ascertained on the following basis. Cost includes taxes and is net of eligible credit under VAT Schemes.

1.11. Lease

Leases wherein a significant portion of the ricks and reward of ownership are retained by the lesser are classified as operating leases. Leases rentals in respects of such leases are charged to the profit and loss account.

1.12. Employee benefits

Contribution to defined contribution scheme such as provident fund, superannuation fund etc, are charged to statements of Profit and Loss/ capital Work in progress, as applicable. The company also provided for retirement benefit in the form of gratuity and leave encashment. Such defined benefit are charged to Statements of Profit & Loss / Capital Work -in- Progress, as applicable, based on actuarial valuation, as at the balance sheet date, made by independent actuaries.

1.13 Financial Statements: Presentation and disclosures

During the year ended March 31, 2012 the Revised Schedule VI notified under the Companies Act, 1956, has become applicable to the Company, for preparation and presentation of its financial statements.


Mar 31, 2010

1. Foreign exchange loss is re cognized to the extent of amount repatriated to India.

2. Miscellaneous & preliminary expense arising of account of GDR issued and training expense amounting to Rs. 1,31,26,185 for current year have not been amortized for the year and would be amortized from Financial year 2010-2011 on words.