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Notes to Accounts of Shantai Industries Ltd.

Mar 31, 2013

1 The Company has invested in the capital of the following partnership firms : Name of the Partnership Firm : RAYBAN INVESTMENTS

Total Capital of the Firm : Rs.30,62,94,326/-

2 No Provision for Current tax has been made in the absence of taxable income.

3 The Company has no suppliers which constitutes small scale Industrial undertaking.

4 The Company principally engaged in the business of Textiles. Accordingly there are no reportable segments as per Accounting Standard No.17 issued by the Institute of Chartered Accountants of India on ''Segment Reporting''.

5 The equity shares of the company are listed on the following Stock Exchanges and company has duly paid the requisite amount of annual listing fees for the year 2012-13 to both the Stock Exchanges.

a) Ahmedabad Stock Exchange Limited Kamdhenu Complex, Opp. Sahajanand College, Panjarapole, Ahmedabad - 380 015.

b) Bombay Stock Exchange Limited Phiroz Jeejeebhoy Tower, Dalal Street, Mumbai-01.

6 Related party disclosures as required by Accounting Standard No.18 issued by the Institute of Chartered Accountants of India are as follows :

(a) Relationships :

i) Joint Ventures / Partnerships : Rayban Investments


Mar 31, 2012

1 The Company has invested in the capital of the following partnership firms :

Name of the Partnership Firm : RAYBAN INVESTMENTS

Total Capital of the Firm : Rs. 43,80,64,179/-

Name of the partners Share of Profit/Loss

1 Shri Praful A. Shah 51.00%

2 Shri Praful A. Shah (HUF) 4.00%

3 Smt. Shilpa P. Shah 3.00%

4 Shri Alok P. Shah 15.00%

5 Shri Suhail P. Shah 15.00%

6 Bijlee Textiles Ltd. 1.00%

7 Jarigold Textiles Ltd. 1.00%

8 Introscope Properties Pvt. Ltd. 7.00%

9 Prabhat Silk Mills Ltd. 1.00%

10 Rosekamal Textiles Ltd. 1.00%

11 Wheel & Axle Textiles Ltd. 1.00%

2 No Provision for Current tax has been made in the absence of taxable income.

3 The Company has no suppliers which constitutes small scale Industrial undertaking.

4 The Company principally engaged in the business of Textiles. Accordingly there are no reportable segments as per Accounting Standard No. 17 issued by the Institute of Chartered Accountants of India on 'Segment Reporting'.

5 The equity shares of the company are listed on the following Stock Exchanges and company has duly paid the requisite amount of annual listing fees for the year 2011-12 to both the Stock Exchanges.

a) Ahmedabad Stock Exchange Limited Kamdhenu Complex, Opp. Sahajanand College, Panjarapole, Ahmedabad - 380 015.

b) Bombay Stock Exchange Limited Phiroz Jeejeebhoy Tower, Dalal Street, Mumbai-01.

6 Related party disclosures as required by Accounting Standard No. 18 issued by the Institute of Chartered Accountants of India are as follows :

(a) Relationships :

i) Joint Ventures/Partnerships :

Rayban Investments

ii) Related enterprises where transactions have taken place :

Amichand Textiles Ltd.

Vareli Fabrics Pvt. Ltd.

Garden Silk Mills Ltd.