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Notes to Accounts of Sanblue Corporation Ltd.

Mar 31, 2014

Note 1 ADITIONAL INFORMATION TO THE FINANCIAL STATEMENT

Note : 1.1 Disclosure required under section 22 of the Micro, Small & Medium Enterprises development At, 2006. The company has not received information from vendors regarding their status under the micro / small & medium enterprises development Act , 2006, hence disclosure relating to amounts unpaid as at the year end under this Act has not been given.

Note : 1.2 Certain balances of receivable, payables, loans and advances are subject to confirmation. Any adjustments, if required, would be made at the time of reconciliation/ settlement of Accounts

Note: 2 Disclosure under Accounting Standard

Note : 2.1 Disclosure under Accounting Standard:

3 : Segment Information

The company is engaged mainly in consultancy business and as such, consulting service is the only reportable segment as per Accounting Standard – 17 issued by The Institute of Chartered Accountants of India.

Note : 3.1 Related Parties disclosure in accordance with Accounting Standard - 18

a. Key management personnel

1). Jose Daniel ( Managing Director)

2). Sanjiv D Shah (Director )

b). Enterprises owned or significantly influenced by key management personnel or their relatives

1). Sanblue Infrastructure Pvt Ltd

2). Sanblue Enterprises Pvt. Ltd.


Mar 31, 2013

Corporate Information:

Sanblue Corporation Limited is primarily engaged in the business of providing consulting services.

Note 1.1 : Certain balances of receivable, payables, loans and advances are subject to confirmation. Any adjustments, if required, would be made at the time of reconciliation / settlement of Accounts.

Note 2 : Disclosure under Accounting Standard

Note 2.1 : Disclosure under Accounting Standard: 17 : Segment Information

The company is engaged mainly in consultancy business and as such, consulting service is the only reportable segment as per Accounting Standard - 17 issued by The Institute of Chartered Accountants of India.

Note : 2.2 Related Party Disclosure in Accordance with Accounting Standard : 18

a. Key management personnel

1) Rooshikumar V Pandya ( Managing Director)

2) Sanjiv D Shah (Director )

b. Enterprises owned or significantly influenced by key management personnel or their relatives

1) Sanblue Infrastructure Pvt Ltd.

2) Sanblue Enterprises Pvt. Ltd.


Mar 31, 2012

Note : 1 Corporate Information:

Sanblue Corporation Limited is primarily engaged in the business of providing consulting services.

Note : 2 Change in accounting policy

Presentation and disclosure of financial statements

During the year ended 31 March 2012, the revised Schedule VI notified under the Companies Act 1956, has become applicable to the company, for preparation and presentation of its financial statements. The adoption of revised Schedule VI does not has significant impact on presentation and disclosures made in the financial statements. The company has also reclassified the previous year figures in accordance with the requirements applicable in the current year.

a) Terms/rights attached to equity shares

The company has only one class of equity shares having a par value of Rs 10/- per share. Each holder of equity shares is entitled to one vote per share. The dividend if any proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. During the year ended 31 March 2012, the company has not declared any dividend to equity shareholders (31 March 2011: 'Rs Nil).

In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders

a) The Company has invested in shares of one of the enterprises significantly influenced by key management personnel namely, Sanblue Enterprises Pvt Ltd. The net worth of that company has turned negative. The permanent diminution in value of investment has been reduced earlier. No provision has been made for any possible loss in value of investments, considering the intrinsic value of the business, the nature of investments being of a long term nature and the expected improvement in performance of the investee company.

b) Investments :

No Provision for difference between book value and market value of Rs. 3025231/- ( P.Y. 1277126) in value of long term quoted investments in one script has been made since in the opinion of the management such difference is of temporary nature and do not represent a diminution other than temporary.

Note : 3. Exceptional Items current year nil (Previous Year Loss on sale of Furniture Rs. 414,725)

Note : 4 Disclosure required under section 22 of the Micro, Small & Medium Enterprises development Act, 2006. The company has not received information from vendors regarding their status under the micro / small & medium enterprises development Act , 2006, hence disclosure relating to amounts unpaid as at the yearend under this Act has not been given.

Note : 5 Related Parties disclosure in accordance with Accounting Standard - 18

a. Key management personnel

1) Rooshikumar V Pandya ( Managing Director)

2) Sanjiv D Shah (Director )

b. Enterprises owned or significantly influenced by key management personnel or their relatives

1) Sanblue Infrastructure Pvt Ltd.

2) Sanblue Enterprises Pvt. Ltd.

Note : 6 The company is engaged mainly in consultancy business and as such, consulting service is the only reportable segment as per Accounting Standard - 17 issued by The Institute of Chartered Accountants of India.


Mar 31, 2011

1. In the opinion of the Board of Directors, Current Assets, Loans and Advances are approximately of the value stated, if realized, in the ordinary course of business. The provisions for all known liabilities is adequate & not in excess of the amount reasonably necessary.

2. Sundry Creditors, Loans & Advances are subject to confirmation by respective parties. Necessary adjustment in the accounts will be made in the year in which discrepancy, if any, may be noticed.

3. The company is engaged mainly in consultancy business and as such, consulting service is the only reportable segment as per Accounting Standard – 17 issued by The Institute of Chartered Accountants of India.

4. The Company has carefully considered the impact of Accounting Standard-28 pertaining to impairment loss. As the recoverable amount of assets is higher than the WDV/book Value of its fixed Assets, no provision is made for impairment loss.

5a. The company has invested in shares of one of the enterprises significantly influenced by key management personnel namely, Sanblue Enterprises Pvt. Ltd. . The net worth of that company has turned negative. The permanent diminution in value of investment has been reduced earlier. No provision has been made for any possible loss in value of investments, considering the intrinsic value of the business, the nature of investment being of a long term nature and the expected improvement in performance of the investee company.

5b. Investments :

No provision for difference between book value and market value of Rs. 1277126/- (P.Y. Nil ) in value of long term quoted investments has been made since in the opinion of the management such difference is of temporary nature and do not represent a diminution other than temporary.

6 Related Parties disclosure in accordance with Accounting Standard - 18

a. Key management personnel

1). Rooshikumar V Pandya ( Managing Director)

2). Sanjiv D Shah (Director )

b. Enterprises owned or significantly influenced by key management personnel or their relatives

1). Sanblue Infrastructure Pvt Ltd

2). Sanblue Enterprises Pvt. Ltd.

7. Exceptional Items represent Loss on sale of Furniture Rs. 4.14 Lacs ( Previous Year investment Written Off 4.19 Lacs)

8. The company has not received information from vendors regarding their status under the micro / small & medium enterprises development Act , 2006, hence disclosure relating to amounts unpaid as at the year end under this Act has not been given.

9. Since this is a service company , provisions of paragraph - 4 (c) of part II of schedule - VI of companies Act 1956, are not applicable.

10. Previous Year's figures have been regrouped/reclassified and/or rearranged wherever considered necessary. Figures have been rounded off to the nearest rupee.

11. Information pursuant to Part IV of Schedue VI is annexed herewith.


Mar 31, 2010

1. In the opinion of the Board of Directors, Current Assets, Loans and Advances are approximately of the value stated, if realized, in the ordinary course of business. The provisions for all known liabilities is adequate & not in excess of the amount reasonably necessary.

2. The name of the company has been changed from La Mere Apparels Ltd, to Sanblue Corporation Ltd W.e.f. 12-06- 2009.

3. Sundry Creditors, Loans & Advances are subject to confirmation by respective parties. Necessary adjustment in the accounts will be made in the year in which discrepancy, if any, may be noticed

4. The company is engaged mainly in consultancy business and as such, consulting service is the only reportable segment as per Accounting Standard -17 issued by The Institute of Chartered Accountants of India

5. Provision lor taxation has been made as per provision of Income tax. As regards deferred tax as per AS 22 "Accounting for taxes on income". there is as net deferred tax asset for current year after adjusting brought forward business losses of the past years. Considering the provisions of AS - 22 and as a matter of prudence the company has not recognized the said deferred tax assets while preparing the accounts of the year under review.

6. The company has invested in shares of one of the associate company. Sanblue Enterprises Pvt. Ltd.. The net worth of that company has been eroded The permanent diminution in value of investment has been reduced earlier. The investment is long term nature hence no further reduction is considered necessary.

7. Related Parties disclosure in accordance with Accounting Standard -18 issued by The Institute of Chartered Accountants of India:

a. Related parties & nature of relationship: L Directors of the Company:

1) Shri Sanjiv D. Shah (Managing Director upto 28-01 -2010)

2) Shri Rooshikumar R. Pandya (Managing Director wef 29-01 -2010) Associate Companies, Firms, relatives of Directors:

1) Capital Consultancy

2) Sanblue Infrastructure Pvt Ltd

3) Sanblue Enterprises Pvt. Ltd

4) Executive Excellence Consultancy Pvt Ltd

5) lykot Hightech Toolroom Limited

6) Bhargava Musik Pvt Ltd

7) RVR Presents Pvt Ltd

8) Gaiaka Media Works Pvt Ltd

Related party relationship is as identified by the management & relied upon by the auditors.

8. Exceptional Items represent investment written off Rs. 4.19 Lacs (Previous Year. Less on Sale of Machmanes Rs 7.10 Lacs)

9. The company has not received information from vendors regarding their status under the micro/ small & medium enter- prises development Act, 2006, hence disclosure relating to amounts unpaid as at the year end under this Act has not been given.

10. Previous Years figures have been regrouped reclassified and. or rearranged wherever considered necessary. Figures have been rounded off to the nearest rupee.

11. Information pursuant to Part IV of Schedue VI is annexed herewith.

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