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Notes to Accounts of Sai Capital Ltd.

Mar 31, 2014

NOTE NO. - 1

SHARE CAPITAL

Note 1.a

a) The company is having only one class of Shares referred to as Equity shares having a par value of Rs. 10/- each.

b) Each holder of equity shares is entitled to one vote per share.

c) No shares are reserved for issue under options and contracts/commitments for the sale of shares/disinvestment/ESOP etc.

d) The company has not declared any dividend during the year.

e) The company does not have any Holding company in the current or previous period, hence disclosure of shares held by holding and ultimate holding companies is not applicable.

NOTE NO. - 2

LONG TERM BORROWINGS

Note 2.a

Unsecured Loans : from related parties and others

None of the borrowings are guaranteed by directors or any other person.

None of above are interest bearing loans.

Terms of Repayment : Payable on demand after 12 months.

No default on account of repayment of principal or interest, where ever applicable.

NOTE NO. - 3

TRADE PAYABLES

The confirmation of transactions and balances of some of the Trade Payables are awaited form the respective parties till the conclusion of the audit and in absence of such confirmation the entries recorded in the books have been relied upon and therefore, such balances are as per books of accounts of the company and subject to reconciliation with respective parties. Disclosure regarding trade payables and overdue payments to Micro and Small Enterprises as required to be disclosed under the MSMED Act, 2006 is determined to the extent such parties have been identified by the Company on the basis of information supplied by the parties, which has been relied upon by the auditors.

NOTE NO. - 4

SHORT TERM LOANS AND ADVANCES

In the opinion of the Management loans and advances have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated.


Mar 31, 2013

1 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.

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

3 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.

4 Segment wise financial performance - AS -17

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

There are no significant events occurring after balance Sheet Date having any material impact on Balance Sheet as at 31.03.2013


Mar 31, 2012

1 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 diminution in value

2 contingent liability in respect of Income Tax Demand Rs. 15.87 lacs besides interest accrued Sreoftill date of payment. The S.L.P filed by the Company before the Hon ble Supreme Court has been dismissed. However, the Company is exploring the option of filing a Review Petition before the Humble Supreme Court and therefore has not provided for the liability in the books of account.

3 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 Referred tax in terms of accounting standard (AS 22) "Accounting for taxes on income issued by the Institute of Chartered Accountants in India is made.

4 A) Related Party Disclosures

i) Associates Sai Capital Limited

Sai Enterprises Pvt. Ltd.

Sai Business & Consultancy Systems Pvt. Ltd.

ii) Key Management Personnel & their Relatives DR. NIRAJ K. SINGH ' y JUHI SINGH

DR. S. M. PATHAK

S. C. DWIVEDI B) Transactions with related parties

5 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.

6 There are no significant events occurring after balance Sheet Date having any material impact on Balance Sheet as at 31.03.2012


Mar 31, 2011

1 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.

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

3 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.

4 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 31.03.2011 to any Smaii Scaie Industries.


Mar 31, 2010

1 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.

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

3 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.

4 A) Related Party Disclosures

i) Associates Sai Agencies Pvt. Ltd.

Sai Industries Limited

Sai Enterprises Pvt Ltd

ii) Personnel & Relatives

Dr. Niraj Kumar Singh

Mrs. Juhi Singh

 
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