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Accounting Policies of Sai Capital Ltd. Company

Mar 31, 2014

1. a) Accounting Convention

These accounts are prepared under the historical cost convention and evaluated on a going concern basis. The financial statements materially comply with and are in conformity with the mandatory accounting standards issued by The Institute of Chartered Accountants of India and the standards and the presentation requirements of the Companies Act, 1956.

b) Borrowing Costs

Borrowing Costs attributable to the acquisition and construction of asset are capitalised as part of the cost of such asset up to the asset are capitalised as part of the cost of such asset up to the date when such asset is ready for its intended use. Other borrowing costs are treated as revenue.

c) Valuation of Investments At Cost. Provision is made for permanent diminution in value of investments.

d) Valuation of Fixed Assets At Cost less accumulated depreciation.

2. In the opinion of the Board of Directors, the investments made by the Company are intended to be held for more than one year from the date on which such investment is made and have therefore been valued at cost. However, provision is made for provision for permanent diminution in value of investments.

3. Contingent liability in respect of unpaid liability on partly paid shares/debentures is Nil (Previous year Rs. Nil)

4. In the opinion of the Board of Directors, there is no tax effect of timing differences based on the estimated computation for a reasonable period, therefore, no provision for deferred tax in terms of accounting standard (AS 22) "Accounting for taxes on income" issued by the Institute of Chartered Accountants in India is made.

5. Related Party Disclosures

i) Associates

Sai Agencies Pvt. Ltd.

Sai Industries Limited

Sai Enterprises Pvt Ltd

ii) Key Management Personnel & Relatives

Dr. Niraj Kumar Singh

Mrs. Juhi Singh

Late Mr. Bhoj Raj Singh

6. As per information and explanations given to us the company does not owe any amount more than Rs. 1.00 Lac and outstanding for more than 30 days as at 31.03.2014 to any Small Scale Industries.

7. Segment wise financial performance - AS-17

Entire revenue and expenses of the company are considered as related to one segment only, hence no separate reporting under AS-17 is considered as required.

8. There are no significant events occurring after balance Sheet Date having any material impact on Balance Sheet as at 31.03.2014.


Mar 31, 2013

A) Accounting Convention

These accounts are prepared under the historical cost convention and evaluated on a going concern basis. The financial statements materially comply with arid are in conformity with the mandatory accounting standards issued by The Institute of Chartered Accountants of India and the standards and the presentation requirements of the Companies Act, 1956.

b) Borrowing Costs

Borrowing Costs attributable to the acquisition and construction of asset are capitalized as part of the cost of such asset up to the asset are capitalized as part of the cost of such asset up to the date when such asset is ready for its intended use. Other borrowing costs are treated as revenue.

c) Valuation of Investments

At Cost. Provision is made for permanent diminution in value of investments.

d) Valuation of Fixed Assets

At Cost less accumulated depreciation.

e) Depreciation has been provided on Written Down Value Method at the rates specified in Schedule XIV of the Companies Act, 1956 on pro-rate basis on existing assets with quarterly rest of additions.


Mar 31, 2012

A) There Prepared under the historical cost convention and evaluated on a going concern basis The Financial statements materially comply with and are in conformity with the mandatory accounting standards issued by The Institute of Chartered Accountants of India and the standards and the presentation requirements of the Companies Act, 1956.

b) Borrowing cots attributable to the acquisition and construction of asset are capitalised as part of the cost of such asset up to the asset are capitalised as part of the cost of such asset up to the date when such asset is ready for its intended use. Other borrowing costs are treated as revenue.

c) Valuation of investments At Cost. Provision is made for permanent diminution in value of investments.

d) Valuation of Fixed Assets At Cost less accumulated depreciation.

e) Depreciation has been provided on Straight Line Method m accordance Wrth the prows ons of Section 205(2)(b) of the Companies Act, 1956 at the rates specified in Schedule XIV of he Companies Act, 1956 on pro-rate basis on existing assets. However, on leased assets, the substantial part of the block has been written off during the year.

f) Lease Rentals are accounted on accrued and due basis except in the case of leased rentals Shave become NPAas per NBFC Prudential Norms (RBI) Directors 2000 which has been


Mar 31, 2011

A) Accounting Convention

These accounts are prepared under the historical cost convention and evaluated on a going concern basis. The financial statements materially comply with and are in conformity with the mandatory accounting standards issued by The Institute of Chartered Accountants of India and the standards and the presentation requirements of the Companies Act, 1956.

b) Borrowing Costs

Borrowing Costs attributable to the acquisition and construction of asset are capitalised as part of the cost of such asset up to the date when such asset is ready for its intended use. Other borrowing costs are treated as revenue.

c) Valuation of Investments

At Cost. Provision is made for permanent diminution in value of investments.

d) Valuation of Fixed Assets

At Cost less accumulated depreciation. e} Depreciation has been provided on Written Down Value Method at the rates specified in Schedule XIV of the Companies Act, 1956 on pro-rate basis on existing assets with quarterly rest of additions.


Mar 31, 2010

A) Accounting Convention

These accounts are prepared under the historical cost convention and evaluated on a going concern basis. The financial statements materially comply with and are in conformity with the mandatory accounting standards issued by The Institute of Chartered Accountants of India and the standards and the presentation requirements of the Companies Act, 1956.

b) Borrowing Costs

Borrowing Costs attributable to the acquisition and construction of asset are capitalised as part of the cost of such asset up to the asset are capitalised as part of the cost of such asset up to the date when such asset is ready for its intended use. Other borrowing costs are treated as revenue.

c) Valuation of Investments

At Cost. Provision is made for permanent diminution in value of investments.

d) Valuation of Fixed Assets

At Cost less accumulated depreciation.

e) Depreciation has been provided on Written Down Value Method at the rates specified in Schedule XIV of the Companies Act, 1956 on pro-rate basis on existing assets with quarterly rest of additions.

 
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