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Accounting Policies of Sai Industries Ltd. Company

Mar 31, 2014

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 upto the asset are capitalised as part of the cost of such asset upto 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 in accordance with the provisions of Section 205(2)(b) of the Companies Act, 1956 at the rates specified in Schedule XIV of the 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 which have become NPA as per NBFC Prudential Norms (RBI) Directors 2000 which has been accounted on receipt basis.


Mar 31, 2012

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 he 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 in accordance with the provisions of Section 205{2)(b) of the Companies Act, 1956 at the rates specified in Schedule XIV of the 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.

J) Lease Rentals are accounted on accrued and due basis except in the case of leased rentals which have become NPA as per NBFC Prudential Norms (RBI) Directors 2000 which has been accounted on receipt basis.


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 Straight Line Method in accordance with the provisions of Section 205(2)(b) of the Companies Act, 1956 at the rates specified in Schedule XIV of the 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 which have become NPA as per NBFC Prudential Norms (RBI) Directors 2000 which has been accounted on receipt basis.

 
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