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Notes to Accounts of Le Waterina Resorts & Hotels Ltd.

Mar 31, 2015

1. Corporate Information:

Le Waterina Resorts & Hotels Limited is a Public Limited Company, which was incorporated on 28th July 1987 in the name of Harringtons Construction and Industries Limited and later on name change. The Shares of the Company are listed on Bombay Stock Exchange. The Company is primarily engaged in the Hotel Business through its "Lewaterina Resorts and Spa" a three star Resort situated in Sriperambudur and "Lewaterina, the Boutique Hotel" a two star Hotel situated in Chennai.

2. CONTINGENT LIABILITIES

A. i. On account of demand by Income Tax Department of wealth Tax for two years : Rs. 49,941 (Rs.49,941)

ii On account of demand for additional charges by Hire Purchase Finance Company and disputed by the company : Rs. 9,207 (Rs.9,207)

B. The company has not accepted the demand by a secured creditor to the extend of Rs. 9207(9,207/-) towards various charges and the same is under dispute for which no provision has been made in the books of accounts.

The company has filed wealth tax returns with no liability towards wealth tax for assessment year 1990-91 to 1992-93 for Rs. 49,941(49,941). The same has been contested by the company before appellate authorities.

3. OTHERS

4. Confirmation of balances has not been received in respect of current liabilities and provisions current assets and loans and advances.

5. No employee had received remuneration in excess of the amount specified in the rules U/s 217(2A) of the Companies Act, 1956

6. Figures have been rounded off to the nearest Rupee.

7. Figures of the previous years have been regrouped wherever necessary to confirm to the current year presentation.

8. Figures in the brackets represent previous year figures.

9. There are no Micro and Small Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31,2015. This is information as required to be disclosed under "The Micro, Small and Medium Enterprises Development Act, 2006" (the act) has been determined to the extent such parties have been identified on the basis of information available with the company.

10. Secured Loan :

Term loan and Overdaft

11. Credit Facility from Vijaya Bank is charged on the Fixed and Moveable Assets of the Company excepting car which is financed by HDFC Bank. Further the Managing Director Sanjay Jalan has guaranteed and offered his properties as collateral to the above said loans.

12. Term loan from HDFC Bank is charged on the car purchased out of the finance.


Mar 31, 2014

I. CONTINGENT LIABILITIES

A (i) On account of demand by Income Rs.49941/- (Rs.49941/-) Tax Department of wealth Tax for two years

(ii) On account of demand for Rs.9207/- (Rs.9207/-) additional charges by Hire Purchase Finance Company and disputed by the company

B

(i) The company has not accepted the demand by a secured creditor to the extend of Rs. 9207(9,207/-) towards various charges and the same is under dispute for which no provision has been made in the books of accounts.

(ii) The company has filed wealth tax returns with no liability towards wealth tax for assessment year 1990-91 to 1992-93 for Rs. 49,941(49,941). The same has been contested by the company before appellate authorities.

II. OTHERS

1. Confirmation of balances has not been received in respect of current liabilities and provisions current assets and loans and advances.

2. No employee had received remuneration in excess of the amount specified in the rules U/s 217(2A) of the Companies Act, 1956

3. Figures have been rounded of to the nearest Rupee.

4. Figures of the previous years have been regrouped wherever necessary to confirm to the current year presentation.

5. Figures in the brackets represent previous year figures.

6. There are no Micro and Small Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31,2014. This is information as required to be disclosed under "The Micro, Small and Medium Enterprises Development Act, 2006" (the act) has been determined to the extent such parties have been identified on the basis of information available with the company.

7. Secured Loan:

Termloan and Overdaft:

a) Credit Facility from Vijaya Bank is charged on the Fixed and Moveable Assets of the Company excepting can which is financed by HDFC Bank. Further the Managing Director Sanjay Jaian has guaranteed and offered his properties as collateral to the above said loans.

b) Termloan from HDFC Bank is charged on the car purchased out of the finance.


Mar 31, 2013

Corporate Information:

Le Waterina Resorts & Hotels Limited is a Public Limited Company, which was incorporated on 28th July 1987 in the name of Harringtons Construction and Industries Limited and later on name change. The Shares of the Company are listed on Bombay Stock Exchange. The Company is primarily engaged in the Hotel Business through its "Le Waterina Resorts and Spa" a three star Resort situated in Sriperambudur and "Le Waterina, the Boutique Hotel" a two star Hotel situated in Chennai.

CONTINGENT LIABILITIES

A (i) On account of demand by Income Tax Department Of wealth Tax for two years Rs.49,941 (Rs.49,941)

(ii) On account of demand for additional charges by Hire Purchase Finance Company and disputed by the company Rs. 9,207 (Rs.9,207)

B (i)The company has not accepted the demand by a secured creditor to the extend of

Rs.(9,207/-) towards various charges and the same is under dispute for which no provision has been made in the books of accounts.

The company has filed wealth tax returns with no liability towards wealth tax for assessment year 1990-91 to 1992-93 for Rs. 49,941(49,941). The same has been contested by the company before appellate authorities.

OTHERS

Confirmation of balances has not been received in respect of current liabilities and provisions current assets and loans and advances.

No employee had received remuneration in excess of the amount specified in the rules U/s 217(2A) of the Companies Act, 1956

1. There are no Micro and Small Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31,2013. This is information as required to be disclosed under "The Micro, Small and Medium Enterprises Development Act, 2006" (the act) has been determined to the extent such parties have been identified on the basis of information available with the company.

2. Secured Loan : Termloan and Overdaft:

a) Credit Facility from Vijaya Bank is charged on the Fixed and Moveable Assets of the Company excepting car which is financed by HDFC Bank. Further the Managing Director, Sanjay Jalan has guaranteed and offered his properties as collateral to the above said loans.

b) Termloan from HDFC Bank is charged on the car purchased out of the finance.

3. Earnings per share (E.P.S.) under accounting standard 20


Mar 31, 2012

I. CONTINGENT LIABILITIES

A (i) On account of demand by Income Tax Department

Of wealth Tax for two years Rs.49,941 (Rs.49,941)

(ii) On account of demand for additional charges by Hire

Purchase Finance Company and disputed by the company Rs.9,207 (Rs.9,207)

B (i) The company has not accepted the demand by a secured creditor to the extend of Rs.(9,207) towards various charges and the same is under dispute for which no provision has been made in the books of accounts.

(ii) The company has filed wealth tax returns with no liability towards wealth tax for assessment year 1990-91 to 1992-93 for Rs. 49,941(49,941). The same has been contested by the company before appellate authorities.

II. OTHERS

1. Confirmation of balances has not been received in respect of current liabilities and provisions current assets and loans and advances.

2. No employee had received remuneration in excess of the amount specified in the rules U/s 217(2A) of the Companies Act, 1956

3. Figures have been rounded of to the nearest Rupee.

4. Figures of the previous years have been regrouped wherever necessary to confirm to the current year presentation.

5. Figures in the brackets represent previous year figures.

6. There are no Micro and Smail Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31,2012. This is information as required to be disclosed under "The Micro, Small and Medium Enterprises Development Act, 2006" (the act) has been determined to the extent such parties have been identified on the basis of information available with the company.


Mar 31, 2011

I. CONTINGENT LIABILITIES

A (i) On account of demand by Rs.49,941 (Rs.49,941) Income Tax Department Of wealth Tax for two years

(ii) On account of demand for Rs. 9,207 (Rs.9,207) additional charges by Hire Purchase Finance Company and disputed by the company

B (i) The company has not accepted the demand by a secured creditor to the extend of Rs. (9,207) towards various charges and the same is under dispute for which no provision has been made in the books of accounts.

(ii) The company has filed wealth tax returns with no liability towards wealth tax for assessment year 1990-91 to 1992-93 for Rs. 49,941(49,941). The same has been contested by the company before appellate authorities.

II. OTHERS

1. Confirmation of balances has not been received in respect of current liabilities and provisions current assets and loans and advances.

2. No employee had received remuneration in excess of the amount specified in the rules U/s 217(2A) of the Companies Act, 1956

3. Figures have been rounded of to the nearest Rupee.

4. Figures of the previous years have been regrouped wherever necessary to confirm to the current year presentation.

5. Figures in the brackets represent previous year figures.

6. During the year the Company has acquired licence to run Boutique hotel at Kottivakkam from Mr. Sanja Jalan, Managing Director of the company. No licence fees is paid for running of the boutique hotel for th year ending on 31st March 2011. Mr. Sanjay Jalan has waived licence fees for period up to 30th Septembe 2011 as the boutique hotel is set up just now. However the company has credited him with advanc licence fees for twenty months amounting to Rs.338.00 lakhs during the current year.

7. There are no Micro and Small Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31,2011. This is information as required to be disclosed under"The Micro, Small and Medium Enterprises Development Act, 2006" (the has been determined and permitted by such parties on the basis of information available with the company.


Mar 31, 2010

II. CONTINGENT LIABILITIES

A (i) On account of demand by Income Tax Department

Of wealth Tax for two years 49,941 (49,941)

(ii) On account of demand for additional charges by Hire

Purchase Finance Company and disputed by the company 9,207 (9,207)

B (i) The company has not accepted the demand by a secured creditor to the extend of Rs. 9,207/- towards various charges and the same is under dispute for which no provision has been made in the books of accounts.

(ii) The company has filed wealth tax returns with no liability towards wealth tax for assessment year 1990-91 to 1992-93 for Rs. 49,941(49,941). The same has been contested by the company before appellate authorities.

II. OTHERS

1. Confirmation of balances has not been received in respect of current liabilities and provisions current assets and loans and advances.

2. No employee had received remuneration in excess of the amount specified in the rules U/ s 217(2A) of the Companies Act, 1956

3. During the year, the company has charged interest to the partnership firm in which it is a partner on the balance outstanding as per the agreement entered into with the firm for a tune of Rs 1508456 / - as against previous year amount of Rs. 1769348 / -

4. Cash at Non- Schedule Bank : Development Credit Bank : Rs. 83194/- (Nil) Federal Bank : Rs 713825/- (Nil)

None of the Directors are interested in the above banks.

5. Figures have been rounded of to the nearest Rupee.

6. Figures of the previous years have been regrouped wherever necessary to confirm to the current year presentation.

7. Figures in the brackets represent previous year figures.

8. During the Year the Company has acquired a three star hotel on a going concern basis.

RELATED PARTY DISCLOSURE

RELATED PARTY : M/s GRAFEX MACHINERY is a Partnership Firm in which 90% share was held by Lewaterinal Resorts and Hotels Ltd

on 31.12.2009 the firm was dissolved as there was no further business .

Full Investment is realised.

M/S Lewaterina Residences, a three star Hotel in which Managing Director is Interested as Owner.

The Key Management Personnel are :

Mr. Sanjayjalan Managing Director

RELATED PARTY : Interest Received From M/s. GRAFEX MACHINERY

TRANSACTIONS COMPANY for Rs. 1508456 /- (Rs 1769348)

Share of Profit From M/s. GRAFEX MACHINERY COMPANY is Nil (Rs.4832)

Advance paid for taking over management of three star hotel at Sriperembadur to M/S Le Waterina Residences in which the managing director is interested as owner Rs 55000000/ -, (represents 20 months advance). (Nil)

Charges paid for three star hotel to M/S Lewaterina Residency Rs 8250000/- (Nil)