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Notes to Accounts of Sheraton Properties & Finance Ltd.

Mar 31, 2014

COMPANY INFORMATION:

Sheraton Properties & Finance Limited (''The Company) is a public limited company domiciled in India.

2 Contingent Liabilities are not provided form the accounts. The details of contingent liabilities are as follows:

As at 31/03/2014 As at 31/03/2013 (Rs.. in Lacs) {Rs.. in Lacs)

Income lax Liability including Interest (up to the last notice of Demand recieved) due for the A.Y. J 990-91 163.32 163.32

(The appeal is punding before Higher authority. the Company has deposited Rs.. 1.24,83,600/- towards said demands. The Company has not acknowledged the liability as debt.)

3) There are no employees during the year hence the company has not provided for the employees liability as required by AS-15 revised 2005 "Limpioycc Benefits".

4) Segment reporting in accordance with Accounting Standards is not applicable to Company.

5) Related Party Disclosure:

As per Accounting Standard of issued b> the Institute of Chartered Accountant of India the Company''s related parties and transaction are disclosed below-

(i) List of realted parties there control exists and related parties with whom transactions have taken place and relationships;

6) Previous year figures are rearranged/ regrouped wherever necessary


Mar 31, 2013

1) Deferred Taxation :

a. In the absence of block of assets no provision for deferred tax has been made as required by the Accounting Standard - 22 "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India.

b. Provision for Current Year Income Tax if any has been made in the accounts for the financial year as per Income Tax Act 1961.

2) Contingent Liabilities are not provided for in the accounts. The details of contingent liabilities are as follows:

(The appeal is pending before Higher authority. The Company has deposited Rs. 1,24,83,600/- towards said demands. The Company has not acknowledged the liability as debt)

3) There are no employees during the year hence the company has not provided for the employees liability as required by AS-15 revised 2005 "Employee Benefits".

4) Segment reporting in accordance with Accounting Standards 17 is not applicable to Company.

5) Previous year figures are rearranged/ regrouped wherever necessary.


Mar 31, 2012

1.1 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 equity shareholder is entitled to one vote per share. The company declars and pays dividend in Indian rupees.

The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General meeting.

2) Deferred Taxation :

a. In the absence of block of assets no provision for deferred tax has been made as required by the Accounting Standard - 22 'Accounting for Taxes on Income' issued by the Institute of Chartered Accountants of India.

b. Provision for Current Year Income Tax if any has been made in the accounts for the financial year as per Income Tax Act 1961.

3) Contingent Liabilities are not provided for in the accounts:

As at 31/03/2011 As at 31/03/2010 (RS in Lacs) (RS in Lacs)

Income Tax Liability including Interest (up . to the last notice of Demand recieved) due for the A. Y. 1990-91 163.32 163.32

(The appeal is pending before Higher authority. The Company has deposited Rs. 1,24,93,600/- towards said demands. The Company has not acknowledged the liability as debt.)

4) There are no employees during the year hence the company has not provided for the employees liability as required by AS-15 revised 2005 '`Employee Benefits”.

5) Segment reporting in accordance with Accounting Standards 17 is not applicable to Company.

6) Previous year figures are rearranged/regrouped wherever necessary.


Mar 31, 2011

1) Contingent Liabilities are not provided for in the accounts:

As at 31/03/2011 As at 31/03/2010 (RS in Lacs) ( RS in Lacs)

Income Tax Liability including Interest (up to the last notice of Demand received) due for the A.Y. 1990-91 Rs. 163.32 Rs. 163.32

(The appeal is pending before Higher authority. The Company has deposited Rs.1.24,3 3,600/- towards said demands. The Company has not acknowledged the liability as debt.)

2) The Earning Per Share is Rs.(0.044).

3) There are no employees during the year hence the company has not provided for the employees liability as required by AS-15 revised 2005 "Employee Benefits".

4) Segment reporting in accordance with Accounting Standards 17 is not applicable to Company.

5) Additional information required under part II of the schedule VI of the Companies Act, 1956 are either NIL or NOT APPLICABLE to the Company.

6) Other information required under Part IV of the Schedule VI of the Companies Act, 1956 is enclosed as Annexure.

7) Previous year figures are rearranged/regrouped wherever necessary.

8) Signatures of Schedule 'A' to" P.