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Notes to Accounts of H S India Ltd.

Mar 31, 2015

1. Term Loan from Bank is secured by Ist & excutive charge by way of registered mortgage over Hotel land and Budding and exclusive charge on all movabr fixed assets (both present and future) of company. Further, it is also secured by way of personal guarantee from Director. Tire aforesaid term loan is obtained at the interest rate of 12,5%p.a.

2. There are no Contingent Liabilities and Commitments occurred after the balance sheet date which require disclosure in the books of accounts.

3. There is no amount due and outstanding to “Investors Education and Protection Fund. ’

4. Income from operations represents invoiced value of goods sold and services rendered exclusive of applicable taxes.

5. In the opinion of Board of Directors of the Company, all the current assets, loans and advances have value on realisation of an amount at least equal to the amount at which they are stated in the Balance Sheet.

Note:

6. Employer’s contribution, Benefits Paid and Past Service Cost includes payments made by the Company directly to its past employees.

7. The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market.

8. The Company’s Gratuity fund is managed by Life Insurance Corporation of India. The plan assets under the fund are deposited under approved securities.

9. The Company’s only business being hoteliering and since all the operations are undertaken in India only, segment-wise information is not applicable under Accounting Standard 17- ‘Segmental Information’ (AS-17) specified under section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014.

10. Related Party Disclosure as required by Accounting Standard - 18 issued by the Institute of Chartered Accountants of India;

(A)Nature of Relationship

(I) Enterprises in which Key Management Personnel have significant influence, with whom the company had transactions:

Kcsar Motels Pvt. Ltd.

Lords Inn Hotels and Developers Ltd.

Sai Ram Krupa Hotels Pvt. Ltd.

Lords Oriental Resorts Developers (Silvassa) Pvt. Ltd.

Lords Sai Ma Hotels Pvt. Ltd.

Lords Institute of Management Pvt. Ltd,

Sahyaadri Health Tourism Pvt. Ltd.

(II) Key Management Personnel:

Pushpendra Bansal Ramesh Bansal

11. The previous year’s figures have been regrouped and/or rearranged wherever necessary.


Mar 31, 2014

1. There is no amount due and outstanding to "Investors Education and Protection Fund."

2. Income from operations represents invoiced value of goods sold and services rendered exclusive of applicable taxes.

3. In the opinion of Board of Directors of the Company, all the current assets, loans and advances have value on realisation of an amount at least equal to the amount at which they are stated in the Balance Sheet.

4. As per Accounting Standard -15 - Accounting for Employees benefits as defined in the accounting standard, the summarised components of net benefit expense recognised in the Statement of profit and loss and the funded status and the amount recognised in the balance sheet are given herein below:

Note:

I. Employer''s contribution, Benefits Paid and Past Service Cost includes payments made by the Company directly to its past employees.

II. The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market.

III. The Company''s Gratuity fund is managed by Life Insurance Corporation of India. The plan assets under the fund are deposited under approved securities.

5. Earning Per Share:

Earning per Share is calculated in accordance with Accounting Standard 20 - ''Earning per Share'' - (AS- 20), notified by the Company''s (Accounting Standards) Rules, 2006

6. The Company''s only business being hoteliering, and since all the operations are undertaken in India only, segment-wise information is not applicable under Accounting Standard 17- ''Segmental Information'' (AS-17) notified by the Companies Accounting Standards Rules, 2006.

7. Related Party Disclosure as required by Accounting Standard - 18 issued by the Institute of Chartered Accountants of India:

(A) Nature of Relationship

(I) Enterprises in which Key Management Personnel have significant influence, with whom the company had transactions:

Kesar Motels Pvt. Ltd.

Lords Inn Hotels and Developers Ltd.

Sai Ram Krupa Hotels Pvt. Ltd.

Lords Oriental Resorts Developers (Silvassa) Pvt. Ltd.

Lords Sai Ma Hotels Pvt. Ltd.

Lords Ishwar Hotels Ltd.

Lords Institute of Management Pvt. Ltd.

Sahyaadri Health Tourism Pvt. Ltd.

(II) Key Management Personnel: Pushpendra Bansal Ramesh Bansal


Mar 31, 2013

1. Contingent Liabilities not provided for in respect of:

a)Corporate Guarantee given to Bank of India on behalf of 9,55,00,000 9,55,00,000 M/sKesar Motels Pvt.Ltd.

2. There is no amount due and outstanding to "Investors Education and Protection Fund."

3. Income from operations represents invoiced value of goods sold and services rendered exclusive of applicable taxes.

4. In the opinion of Board of Directors of the Company, all the current assets, loans and advances have value on reahsation of an amount at least equal to the amount at which they are stated in the Balance Sheet.

5. As per Accounting Standard -15 - Accounting for Employees benefits as defined in the accounting standard, the summarised components of net benefit expense recognised in the Statement of profit and loss and the funded status and the amount recognised in the balance sheet are given here in below:


Mar 31, 2012

1. The Company has initiated the process of obtaining details from Sundry Creditors who are registered under the Micro, Small and Medium Enterprises Development Act, 2006. To the extent that the Company has received information, it has evaluated that there are no amounts due to the Creditors who are registered under the said Act beyond the period of 45 days.

2011-12 2010-11 Rs Rs 2. Estimated amount of Contracts remaining to be executed on capital 30,00,000 50,00,000 account (Net of Advances)

3. Contingent Liabilities not provided for in respect of:

a) Corporate Guarantee given to Bank of India on behalf of

M/s. Kesar Motels Pvt. Ltd. 9,55,00,000 9,55,00,000

4. There is no amount due and outstanding to "Investors Education and Protection Fund."

5. Income from operations represents invoiced value of goods sold and services rendered exclusive of applicable taxes.

6. In the opinion of Board of Directors of the Company, all the current assets, loans and advances have value on realisation of an amount at least equal to the amount at which they are stated in the Balance Sheet.

7. As per Accounting Standard -15 -Accounting for Employees benefits as defined in the accounting standard, the summarized components of net benefit expense recognised in the Statement of profit and loss and the funded status and the amount recognised in the balance sheet are given herein below:

VII. Actuarial Assumptions

Discount Rate Current 8% 8%

Salary Escalation 7% 7%

Note: i) Employer's contribution, Benefits Paid and Past Service Cost includes payments made by the Company directly to its past employees.

ii) The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market.

iii) The Company's Gratuity fund is managed by Life Insurance Corporation of India. The plan assets under the fund are deposited under approved securities.

8. Related Party Disclosure as required by Accounting Standard - 18 issued by the Institute of Chartered

Accountants of India: (A) Nature of Relationship

(I) Enterprises in which Key Management Personnel have significant influence:

Kesar Motels Pvt. Ltd.

Lords Inn Hotels and Developers Ltd.

Sai Ram Krupa Hotels Pvt. Ltd.

Lords Oriental Resorts Developers (Silvassa) Pvt. Ltd.

Lords Sai Ma Hotels Pvt. Ltd.

Lords Ishwar Hotels Ltd.

(II) Key Management Personnel:

Pushpendra Bansal

Ramesh Bansal

9. The Company's only business being hoteliering and since all the operations are undertaken in India only, segment- wise information is not applicable under Accounting Standard 17 - 'Segmental Information' (AS-17) notified by the Companies Accounting Standards Rules, 2006.

10. During the year ended 31st March, 2012 the Revised Schedule VI notified under the Companies Act 1956, has become applicable for preparation and presentation of financial statements. The preparation of financial statements based on the Revised Schedule VI does not impact the recognition and measurement principles followed for preparation of the financial statements. However, it has significant impact on the presentation and disclosure made in the financial statements. The company has regrouped/reclassified the previous year figures in accordance with the requirements applicable in the current year.


Mar 31, 2010

1. Conversion of Preferential Warrant and 12.5% Optionally Fully Convertible Debentures ( OFCDs ) During the year, the Company has converted 27,19,000 preferential warrants into equal number of Equity Shares of Rs. 10/- each at a Premium of Rs. 4/- each aggregating to Rs 380.66 Lacs and also converted 3000 12.5% Optionally Fully convertible debentures (OFCD) of Rs. 1000/- each into 300000 Equity Shares of Rs. 10/- each at par. Consequently, the paid up Share Capital of the Company has increased from Rs. 1321.94 Lacs to Rs. 1623.84 Lacs and Share Premium account is credited with Rs. 108.76 Lacs. The fund raised by way of Preferential Allotment of Equity Shares amounting to Rs. 761.32 lacs (out of which Rs. 380.66 lacs pertains to 2008-09) were utilised as under :-

2 As the Turnover of the Company includes sale of food and beverages, it is not possible to give quantitative details of the turnover and food and beverages consumption. The Company has been exempted from disclosure of the quantitative details vide Order No.46/189/2007-CL.III dated 24.01.2008 issued by Ministry of Company Affairs, Government of India. Accordingly the quantitative data covered under paragraph 3(i) (a) of Part II of Schedule VI of the Companies Act 1956, are not disclosed herein. However the said order required the company to disclose certain additional particulars which are given below:

(a) The income from wine and liquor is Rs. 2,94,67,395/- (P.Y. Rs. 2,20,67,346/- ).

(b) The income from telex & telephone is Rs. 75,147/- (P.Y. Rs. 1,91,255/-) included in other services.

(c) The break up of Consumption of Provisions, Stores, Beverages, Wine & Liquor and other consumables are as follows:

(Figures in brackets represent figures for the year 2008-09)

3. The Company has initiated the process of obtaining details from Sundry Creditors who are registered under the Micro, Small and Medium Enterprises Development Act, 2006. To the extent that the Company has received information, it has evaluated that there are no amounts due to the Creditors who are registered under the said Act beyond the period of 45 days.

4. As per Accounting Standard -15 Accounting for Employees benefits as defined in the accounting standard the summarised components of net benefit expense recognised in the profit and loss account and the funded status and the amount recognised in the balance sheet are given herein below:

Note: i) Employers contribution includes payments made by the Company directly to its past employees.

ii) The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market

iii) The Companys Gratuity fund is managed by Life Insurance Corporation of India. The plan assets under the fund are deposited under approved securities.

5. There is no amount due and outstanding to “Investors Education and Protection Fund.”

6. During the year, the Company has disposed/discarded part of fixed assets, which were replaced by new assets. The gross blockvalue of the same is Rs. 1.84CroresandW.D.Vis Rs. 0.09Crores.

7. Contingent Liabilities not provided for in respect of :

2009-10 2008-09 a) Corporate Guarantee given to Bank of India on behalf of 9,55,00,000 9,55,00,000

M/s. Kesar Motels Private Limited.

8. During the year, the amount of Rs. 41,60,512 has been charged to profit and loss account which pertains to disputed Interest to Financial Institutions for the period April, 2004 to March, 2009.

9. The Term Loans from Bank are secured by first charge by way of equitable mortgage of Companys all immovable properties, both present and future and first charge by way of hypothecation of Companys all movable, present and future subject to prior charges created and/or to be created in favour of the Companys bankers for securing the borrowing of working capital requirements in the ordinary course of business. The mortgage and hypothecation are ranking pari passu inter se.

10. Cash Credit from Punjab National Bank is secured by way of hypothecation of stocks and related book debts and further hypothecation of building under WIP.

11. Vehicle Loans from Bank and NBFCs are secured by way of hypothecation of the Vehicle.

12. Income from Operations, represents invoiced value of goods sold and services rendered exclusive of applicable taxes.

13. In the opinion of Board of Directors of the Company, all the current assets, loans and advances have value on realization of an amount at least equal to the amount at which they are stated in the Balance Sheet.

14. Related Party Disclosure as required by Accounting Standard-18 issued by the Institute of Chartered

Accountants of India: (A) Nature of Relationship :

(I) Enterprises in which Key Management Personnel have significant influence: Kesar Motels Private Limited

Lords Inn Hotels and Developers Limited

(II) Key Management Personnel Pushpendra Bansal

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