Mar 31, 2016
1. Some of the customers & suppliers accounts are subject to confirmation / reconciliation, which is in progress.
2. The company extends the benefits of the encashment of leave to its employees at the option of the employee and is accounted for as and when claimed.
3. Out of the total creditors, amount due to Small Scale Industries, cannot be segregated pursuant to the notification issued by the Department of Company Affairs, as none of the creditors have provided the information about their status.
4. In the opinion of the Directors, current assets, loans & advances have the value at which they are stated in the Balance Sheet if realized in the ordinary course of business.
5. As the turnover of the company includes safe of Rooms, Foods & Beverages etc., it is not possible to give quantity wise details of the turnover and of Food & Beverages consumed.
6. All raw materials, provisions & beverages consumed are indigenous.
7. Value of Imports (calculated on CIF bases) in respect of:
8. Company has 39 non-resident shareholders holding 10,01,800 equity shares of Rupees 10/each (Previous Year 38 non-resident shareholders holding 1001750 equity shares). The company has not declared any dividend during the year (Previous year- Nil).
In accordance with Accounting Standard 22, Accounting for taxes of Income issued by the Institute of Chartered Accountants of India, during the year under review the company has Credited Rs. 44,44,620/- in Statement of Profit and Loss towards Reversal of Deferred Tax Liability.
the basic and diluted earnings per share of the company remain the same.
9.RELATED PARTY DISCLOSURE
In terms of Accounting Standard 18 issued by The Institute of Chartered Accountants of India, regarding -âRelated party disclosures", the desired information is as follows:
(I) Names of related parties
Key Management Personnel 1. Sikandar Hafiz Khan
2. S. Shankar Narayanan
3. Abdul Tahir
4. Rajendra Malpani
5. RanjayDawar
6. SanobarBano Relatives of key management 1. Kaleem Ullah Khan personnel Enterprises owned
or significantly influenced by
key management personnel 1. Reliable Global Venture Pvt Ltd
ortheirrelatives 2. Reliable Overseas
3. ReliableConsumerProductsP.Ltd.
4. Reliable Oven & Bakery Private Limited
5. Reliable Carriers P. Ltd.
6. Reliable Dairy & Farm Products Pvt ltd
7. Reliable Multimedia & Enterprises Ltd
8. Reliable Tours & Travels (India) Pvt Ltd
10. The company is in the business of Hotel, Restaurant & allied activities and all its services fall in the same segment as nature of the services, its commercial location, the regulatory environment and resulting risks and rewards associated with these business lines are not materially different and is consequently, not subject to segment reporting as defined in AS-17 issued by the Institute of Chartered Accountants of India.
11. Provision for income tax amounting to Rs. 29.97 lacs (current tax) is made in the current year, in view of the âbook profit" as envisaged in section 115JBofthelncomeTaxAct, 1961.
12. The Company has reviewed all its pending litigations and proceedings and has adequately provided for where provisions are required and disclosed the contingent liabilities where applicable, in its financial statements. The Company does not expect the outcome of these proceedings to have a material adverse effect on its financial results at March 31, 2016. Refer Note 23.1 for details on contingent liabilities
13. The figures for the previous year have been regrouped / rearranged wherever necessary.
14. Disclosure under Micro, Small and Medium Enterprises Development Act, 2006.
There are no Micro and Small Scale business Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as on the date of Financial Statements. This information as required to be disclosed under the micro, Small and Medium enterprises development Act, 2006 has been determined to the extent such parties have been identified on the basis of information, available with the company.
Mar 31, 2015
1. CONTINGENT LIABILITIES
The company is contingently liable for:
2. Some of the customers & suppliers accounts are subject to
confirmation / reconciliation, which is in progress.
3. The company extends the benefits of the encashment of leave to its
employees at the option of the employee and is accounted for as and
when claimed.
4. Out of the total creditors, amount due to Small Scale Industries,
cannot be segregated pursuant to the notification issued by the
Department of Company Affairs, as none of the creditors have provided
the information about their status.
5. Long term borrowing of a sum of Rs. 4,89,85,199.15 (Previous year
Rs. 5,19,85,986.15) are due to body corporate and individuals in which
some of the directors are interested as director and/or shareholders.
Maximum outstanding amount during the year is Rs. 5,19,85,986.15
(Previous year Rs. 5,91,79,558.86) on the basis of individual lender.
6. In the opinion of the Directors, current assets, loans & advances
have the value at which they are stated in the Balance Sheet if
realised in the ordinary course of business.
7. As the turnover of the company includes sale of Rooms, Foods &
Beverages etc., it is not possible to give quantity wise details of the
turnover and of Food& Beverages consumed.
8. All raw materials, provisions & beverages consumed are indigenous.
9. Company has 38 non-resident shareholders holding 1001750 equity
shares of Rupees 10/- each. The company has not declared any dividend
(Previous year - 38 Non Resident Shareholders holding 1001750 equity
shares of Rs 10/- each which were allotted under 39 folios).
NOTES:
a. In accordance with Accounting Standard 22, Accounting for taxes of
Income issued by the Institute of Chartered Accountants of India,
during the year under review the company has Credited Rs. 4,88,569.53/-
in Statement of Profit and Loss towards Reversal of Deferred Tax
Liability.
The Company does not have any outstanding dilutive potential equity
shares. Consequently the basic and diluted earning per share of the
company remain the same.
10. RELATED PARTY DISCLOSURE: -
In terms of Accounting Standard 18 issued by The Institute of Chartered
Accountants of India, regarding "Related party disclosures", the
desired information is annexed as Annexure "A" forming part of annual
financial statements.
11. The company is in the business of Hotel, Restaurant & allied
activities and all its services fall in the same segment as nature of
the services, its commercial location, the regulatory environment and
resulting risks and rewards associated with these business lines are
not materially different and is consequently, not subject to segment
reporting as defined in AS-17 issued by the Institute of Chartered
Accountants of India.
12. Directors remuneration amounting to Rs. 58.96 Lacs (Previous year
Rs. 50.03 Lacs).
13. Disclosure under Micro, Small and Medium Enterprises Development
Act, 2006.
There are no Micro and Small Scale business Enterprises, to whom the
Company owes dues, which are outstanding for more than 45 days as at
31.03.2015. This information as required to be disclosed under the
micro, Small and Medium enterprises development Act, 2006 has been
determined to the extent such parties have been identified on the basis
of information, available with the company.
14. During the year company has not made any addition in deposit on
Leasehold Land and Leasehold Land Building & Interior.
15. Provision for income tax amounting to Rs. 16.54 lacs (current tax)
is made in the current year, in view of the "book profit" as envisaged
in section 115 JB of the Income Tax Act, 1961.
16. The figures for the previous year have been regrouped / rearranged
wherever necessary.
17. Pursuant to the enactment of Companies Act 2013, the company has
applied the estimated useful lives of the assets as specified in
Schedule II. Accordingly the unamortized carrying value is being
depreciated / amortized over the revised/remaining useful lives. The
written down value of fixed Assets whose lives have expired as at 1st
April 2014 have been adjusted out of free reserves. Amount of Rs
36,55,328.86 has been Written off from Free reserve.
18. If the Schedule II of The Companies Act 2013 would not have
applicable then the Depreciation of Rs.1,25,16,408.30 would have
charged. Due to applicability of Schedule II The Companies Act 2013
Depreciation of Rs. 1,48,77,313.08 has been charged in the Statement of
Profit & Loss Account. Net Impact of Rs 23,60,904.78 effecting the
profit of Current year.
19. As per the Schedule VI of The companies Act 1956 the life of
Building is given 58 years and in Schedule II of The Companies Act 2013
the useful life is 60 years due to this minor change we have not
recalculated the WDV of the Block Building as on 31 march 2014 assuming
the Life of Building as per the Old provision and addition made
thereafter has been considered as per the provision of Schedule II of
The Companies Act 2013.
Mar 31, 2014
1. CONTINGENT LIABILITIES
The company is contingently liable for:
Particulars As at 31.03.2014 As at 31.03.2013
1Guarantee given by the company to 80,00,000/- 80,00,000/-
ING Vysya Bank for loan taken by the
Reliable Dairy Farm & Products P.Ltd.
2. Some of the customers & suppliers accounts are subject to
confirmation / reconciliation, which is in progress.
3. Extra Ordinary items shown in Statement of P & L consist of Prior
period Adjustment account aggregating to Rs. 31,517.00 (net Credit)
(previous year the amount was Rs. 1,36,129.22, (Net Debit))
4. The company extends the benefits of the encashment of leave to its
employees at the option of the employee and is accounted for as and
when claimed.
5. Out of the total creditors, amount due to Small Scale Industries,
cannot be segregated pursuant to the notification issued by the
Department of Company Affairs, as none of the creditors have provided
the information about their status.
6. Long term borrowing of a sum of Rs. 5,1 9,85,986.15 (Previous year
Rs. 5,91,79,558.86) are due to body corporate and individuals in which
some of the directors are interested as director and/or shareholders.
Maximum outstanding amount during the year is Rs. 5,91,79,558.86/-
(Previous year Rs. 7,73,33,509.26/-) on the basis of individual
lender.
7. In the opinion of the Directors, current assets, loans & advances
have the value at which they are stated in the Balance Sheet if
realised in the ordinary course of business.
8. As the turnover of the company includes sale of Rooms, Foods &
Beverages etc., it is not possible to give quantity wise details of the
turnover and of Food & Beverages consumed.
9. All raw materials, provisions & beverages consumed are indigenous.
10. Value of Imports (calculated on CIF bases) in
respect of :
2013-14 2012-13
Provision Stores NIL NIL
Capital Goods NIL NIL
11. Receipts in Foreign currency
2013-14 2012-13
Rs.31,15,200.90 Rs. 46,28,063.00
12. Company has 38 non-resident shareholders holding 1001750 equity
shares of Rupees 10/- each. The company has not declared any dividend
(Previous year - 28 Non Resident Shareholders holding 1001760 equity
shares of Rs 10/- each which were allotted under 39 folios).
NOTES:
a. In accordance with Accounting Standard 22, Accounting for taxes of
Income issued by the Institute of Chartered Accountants of India,
during the year under review the company has Charged Rs. 53,04,557.95/-
in Statement of Profit and Loss towards Deferred Tax Liability.
14. EARNING PER SHARE
The Company does not have any outstanding dilutive potential equity
shares. Consequently the basic and diluted earning per share of the
company remain the same.
15. RELATED PARTY DISCLOSURE:-
In terms of Accounting Standard 18 issued by The Institute of Chartered
Accountants of India, regarding "Related party disclosures", the
desired information is annexed as Annexure "A" forming part of
annual financial statements.
16. The company is in the business of Hotel, Restaurant & allied
activities and all its services fall in the same segment as nature of
the services,
its commercial location, the regulatory environment and resulting risks
and rewards associated with these business lines are not materially
different and is consequently, not subject to segment reporting as
defined in AS-17 issued by the Institute of Chartered Accountants of
India.
17. Directors remuneration amounting to Rs. 50.03 Lacs (Previous year
Rs. 47.02 Lacs).
18. Disclosure under Micro, Small and Medium Enterprises
DevelopmentAct, 2006.
There are no Micro and Small Scale business Enterprises, to whom the
Company owes dues, which are outstanding for more than 45 days as at
31.03.2014. This information as required to be disclosed under the
micro, Small and Medium enterprises development Act, 2006 has been
determined to the extent such parties have been identified on the basis
of information, available with the company.
19. During the year company has not made any addition in deposit on
Leasehold Land and Leasehold Land Building & Interior.
20. Accumulated depreciation on Computer upto 31.03.2013 was Rs
41,46,675.73/- while Gross block of the same was Rs. 44,92,871.00/-
therefore Depreciation on opening value has been charged maximum upto
the amount of gross block of computer i.e Rs. 3,46,195.27/-
21. Provision for income tax amounting to Rs. 50.34 lacs (current tax)
is made in the current year, in view of the "book profit" as
envisaged in section 115JBofthelncomeTaxAct, 1961.
22. The figures for the previous year have been regrouped / rearranged
wherever necessary.
Mar 31, 2013
1. CORPORATE INFORMATION
Reliable ventures India Limited is a public Company domiciled in India
and incorporated under the provisions of the companies Act 1956. Its
share is listed on two stock exchanges in India. The company is engaged
in the hospitality business. The company caters in domestic market.
2. BASIS OF PREPARATION OF FINANCIAL STATEMENTS:
The accounts have been prepared to comply in all material aspects with
applicable accounting principles in lndia(lndian GAAP), the Accounting
Standards (Accounting Standard Rules 2006 as amended ) issued by the
Institute of Chartered Accountants of India and the relevant provisions
of the Companies Act, 1956.
The accounting policies adopted in preparation and presentation of
financial statement are consistent with those of previous year except
as suitably explained.
3 CONTINGENTLIABILITIES
The company is contingently liable for:
S.No Particulars As at 31.03.2013 As at 31.03.2012
1. Guarantee given by
the company to 80,00,000/- 80,00,000/-
ING Vysya Bank for
loan taken by the
Reliable Dairy Farm
& Products P. Ltd.
2. Some of the customers & suppliers accounts are subject to
confirmation / reconciliation, which is in progress.
3. Extra Ordinary items shown in Statement of P & L consist of Prior
period Adjustment account aggregating to Rs. 1,36,129.22 (net Debit)
(previous yearthe amount was Rs. 4,12,717.00, (Net Debit))
4. The company extends the benefits of the encashment of leave to its
employees at the option of the employee and is accounted for as and
when claimed.
5. Out of the total creditors, amount due to Small Scale Industries,
cannot be segregated pursuant to the notification issued by the
Department of Company Affairs, as none of the creditors have provided
the information abouttheir status.
6. Long term borrowing of a sum of Rs. 5,80,98,771.86 (Previous year
Rs. 7,62,52,722.26) are due to directors, shareholders and companies in
which some of the directors are interested as director and/or
shareholders, besides that a sum of Rs. 10,80,787.00 which is repayable
on demand considered as Short term borrowings in Balance Sheet. Maximum
outstanding amount during the year is Rs. 5,91,79,558.86/-(Previous
year Rs. 7,73,33,509.26/-) on the basis of individual lender.
7. In the opinion of the Directors, current assets, loans & advances
have the value at which they are stated in the Balance Sheet if
realised in the ordinary course of business.
8. As the turnover of the company includes sale of Rooms, Foods &
Beverages etc., it is not possible to give quantity wise details of the
turnover and of Food & Beverages consumed.
9. All raw materials, provisions & beverages consumed are indigenous.
12. Company has 28 non-resident shareholders holding 1001760 equity
shares of Rupees 10/- each, which are allotted under 39 folios. The
company has not declared any dividend (Previous year - 29 Non Resident
Shareholders holding 1005510 equity shares of Rs 10/- each which were
allotted under 40 folios).
4 RELATED PARTY DISCLOSURE: -
In terms of Accounting Standard 18 issued by The Institute of Chartered
Accountants of India, regarding "Related party disclosures", the
desired information is annexed as Annexure "A" forming part of annual
financial statements.
5. The company is in the business of Hotel, Restaurant & allied
activities and all its services fall in the same segment as nature of
the services, its commercial location, the regulatory environment and
resulting risks and rewards associated with these business lines are
not materially different and is consequently. not subject to segment
reporting as defined in AS-17 issued by the Institute of Chartered
Accountants of India.
6. Directors remuneration amounting to Rs. 47.02lacs (Previous year
Rs. 46.15 Lacs).
7 Disclosure under Micro, Small and Medium Enterprises Development
Act, 2006.
There are no Micro and Small Scale business Enterprises, to whom the
Company owes dues, which are outstanding for more than 45 days as at
31.03.2013. This information as required to be disclosed under the
micro, Small and Medium enterprises development Act, 2006 has been
determined to the extent such parties have been identified on the basis
of information, available with the company.
8. During the year company has made addition in deposit on leasehold
land by Rs. 2.5 lacs and Leasehold Land, Building & Interior by Rs. 25
Lacs.
9. Accumulated depreciation on Computer upto 31.03.2012 was Rs
39,28,250.55/- while Gross block of the same was Rs. 41,38,278/-
therefore Depreciation on these value has been charged maximum upto the
amount of gross block of computer i.eRs. 2,10,027.45/-
10. Provision for income tax amounting to Rs. 53.73 lacs (current tax)
is made in the current year, in view of the "book profit" as envisaged
in section 115 JB of the Income TaxAct, 1961.
Mar 31, 2012
1. CORPORATE INFORMATION
Reliable ventures India Limited is a public Company domiciled in India
and incorporated under the provisions of the companiesAct 1956. Its
share is listed on two stock exchanges in India. The company is engaged
in the hospitality business. The company caters in domestic market.
2. BASIS OF PREPARATION OF FINANCIAL STATEMENTS:
The accounts have been prepared to comply in all material aspects with
applicable accounting principles in lndia(lndian GAAP), the Accounting
Standards (Accounting Standard Rules 2006 as amended) issued by the
Institute of Chartered Accountants of India and the relevant provisions
of the CompaniesAct, 1956.
The accounting policies adopted in preparation and presentation of
financial statement are consistent with those of previous year except
as suitably explained.
1. CONTINGENT LIABILITIES
The company is contingently liable for:
S.
No Particulars As at 31.03.2012 As at 31.03.2011
1. Guarantee given by the company
to ING Vysya Bank for 80,00,000/- 80,00,000/-
loan taken by the Reliable Dairy
Farm & Products P. Ltd.
2. Guarantee issued by the bank on
behalf of the 0.00 1,63,175.00
company.
2. Some of the customers & suppliers accounts are subject to
confirmation / reconciliation, which is in progress.
3. Extra Ordinary items shown in Statement of P & L consist of Prior
period Adjustment account aggregating to Rs. 4,12,717.00 (net Debit)
(previous year Rs. 26,481.00, (Net Debit) consisting of previous years
expenses.
4. The company extends the benefits of the encashment of leave to its
employees at the option of the employee and is accounted for as and
when claimed.
5. Out of the total creditors, amount due to Small Scale Industries,
cannot be segregated pursuant to the notification issued by the
Department of Company Affairs, as none of the creditors have provided
the information about their status.
6. Long term borrowing of a sum of Rs. 7,62,52,722.26 (Previous year
Rs. 88,730,981.36) are due to companies in which some of the directors
are interested as director and/or shareholders, besides that a sum of
Rs. 5,80,787.00 which is repayable within 12 months considered as Short
term borrowings in Balance Sheet. Maximum outstanding amount during the
year is Rs. 9,08,72,098.30 (Previous year Rs. 10,53,29,1'24.42)
7. In the opinion of the Directors, current assets, loans & advances
have the value at which they are stated in the Balance Sheet if
realised in the ordinary course of business.
8. As the turnover of the company includes sale of Rooms, Foods &
Beverages etc., it is not possible to give quantity wise details of the
turnover and of Food & Beverages consumed.
9. All raw materials, provisions & beverages consumed are indigenous.
10. Company has 29 non-resident shareholders holding 1005510 equity
shares of Rupees 10/- each, which are allotted under 40 folios. The
company has not declared any dividend (Previous year - 29 Non Resident
Shareholders holding 1005375 equity shares of Rs 10/- each which were
allotted under 40 folios).
NOTES:
a. In accordance with Accounting Standard 22, Accounting for taxes of
Income issued by the Institute of Chartered Accountants of India,
during the year under review the company has Charged Rs. 80,21,014.20
in Statement of Profit and Loss towards Deferred Tax Liability.
b. The company expects to generate taxable income in the coming years
which will enable it to utilise the carried forward losses, in view of
increasing trend of Turnover and corresponding incremental profits as
compared to previous financial year.
11. RELATED PARTY DISCLOSURE: -
In terms of Accounting Standard 18 issued by The Institute of Chartered
Accountants of India, regarding "Related party disclosures", the
desired information is annexed as Annexure "A" forming part of
annual financial statements.
12. The company is in the business of Hotel, Restaur- -ant & allied
activities and all its services fall in the same segment as nature of
the services, its commercial location, the regulatory environment and
resulting risks and rewards associated with these business lines are
not materially different and is consequently, not subject to segment
reporting as defined in AS-17 issued by the Institute of Chartered
Accountants of India.
13. Directors remuneration amounting to Rs. 46.15 lacs (Previous year
Rs. 24.79 Lacs).
14. Disclosure under Micro, Small and Medium Enterprises Development
Act, 2006.
There are no Micro and Small Scale business Enterprises, to whom the
Company owes dues, which are outstanding for more than 45 days as at
31.03.2012. This information as required to be disclosed under the
micro, Small and Medium enterprises development Act, 2006 has been
determined to the extent such parties have been identified on the basis
of information, available with the company.
15. The figures for the previous year have been regrouped / rearranged
wherever necessary and the typographical error of displaying the figure
of Rs. 4.09 lacs as exp. simultaneously as extraordinary as well as
exceptional item in the quarterly result for the Last quarter ended
31.03.2012 has been rectified which culminated into increase in the net
profit for the Financial 2011-12 by Rs. 4.13 lacs with incidental
improvement in the EPS for the year.
Mar 31, 2010
1. CONTINGENT LIABILITIES
The company is contingently liable for:
S.No Particulars As at 31.03.2010 As at 31.03.2009
1. Guarantee issued by
bank on behalf of the
company 1,63.175.00 1,63,175.00
2. Some of the customers and suppliers accounts are pending
confirmation/ reconciliation and the same have been taken as per the
balances appearing in the books. Any differences arising on account of
such reconciliations will be accounted for as and when these
reconciliations are completed.
3. Prior period Adjustment account aggregating to Rs. 1,51,755.00 (net
Credit) (previous year Rs. 3,73,577.43 Net Credit) consisting of
previous years income.
4. The company extends the benefits of the encashment of leave to its
employees at the option of the employee and is accounted for as and
when claimed and have not been provided for.
5. Of the total creditors, amount due to Small Scale Industries,
cannot be segregated pursuant to the notification issued by the
Department of Company Affairs, as none of the creditors have provided
the information about their status.
6. Unsecured loans of a sum of Rs. 9,28,29,124.42 (Previous year Rs.
5,90,80,147.42) are due to companies in which some of the directors are
interested as director and/or shareholders, maximum outstanding amount
during the year is Rs. 10,70,74,889.25 (Previous year Rs.
9,03.86,383.10)
7. In the opinion of the Directors, current assets, loans & advances
have the value at which they are stated in the Balance Sheet if
realised in the ordinary course of business.
8. As the turnover of the company includes sale of Rooms, Foods &
Beverages etc., it is not possible to give quantity wise details of the
turnover and of Food & Beverages consumed.
9. All raw materials, provisions & beverages consumed are indigenous.
10. Value of Imports (calculated on CIF bases) in respect of :
2009-10 2008-09
Provision Stores NIL NIL
Capital Goods NIL NIL -
2009-10 2008-09
11. Earning in Foreign
currency Rs.53,08.829.00 Rs. 53,11.402.00
12. Company has 28 non-resident shareholders holding 1004800 equity
shares of Rupees 10/- each, which are allotted under 43 folios. The
company has not declared any dividend (Previous year - 27 Non Resident
Shareholders holding 1004800 equity shares of Rs 10/- each which were
allotted under 42 folios).
13. Related Party Disclosure :
In terms of Accounting Standard 18 issued by The Institute of Chartered
Accountants of India, regarding "Related party disclosures", the
desired information is annexed as Annexure "A" forming part of annual
financial statements.
14. The company is in the businessof Hotel, Restaurant & allied
activities and all its services fall in the same segment as nature of
the services, its commercial location, the regulatory environment and
resulting risks and rewards associated with these business lines are
not materially different and is consequently, not subject to segment
reporting as defined in AS-17 issued by the Institute of Chartered
Accountants of India.
15. Directors remuneration amounting to Rs. 14.04 lacs (Previous year
Rs.14.04 Lacs) has been provided for Managing Director during the year.
16. Previous year figures have been regrouped and rearranged wherever
considered necessary.
17. Disclosure under Micro, Small and Medium Enterprises Development
Act, 2006.
There are no Micro and Small Scale business Enterprises, to whom the
Company owes dues, which are outstanding for more than 45 days as at
31.03.2010. This information as required to be disclosed under the
Micro, Small and Medium enterprises development Act, 2006 has been
determined to the extent such parties have been identified on the basis
of information, available with the company.