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Notes to Accounts of Shriniwas Power & Infrastructure Ltd.

Mar 31, 2011

1. Secured Loans

a) Term Loan

During the financial year company obtained term loan from a nationalized bank.

b) Working Capital Facilities

During the year company obtained Working capital loan from a nationalized bank.

2. The Company has not obtained conformation of balances for Sundry Debtors, Sundry Creditors and Loans & Advances.

3. Employee Benefits (AS - 15)

The Company has not made any provision to Gratuity, Leave Encashment and other retirement benefits to the employees as per AS 15.

4. Segment Reporting (AS - 17)

Since the Company Operate in one segment only - segment reporting as required Under Accounting Standard - 17 is not disclosed here separately.

5. Related Party Transactions (AS - 18)

As per the Management Representation received by us , the following are the related party transactions are as follows.

6. Deferred Tax Assets & Liabilities (AS - 22 )

In accordance with Accounting Standard 22 ( AS 22) issued by the ICAI, the Company has not accounted for deferred income tax during the year because the Company is following the Depreciation as per Companies Act only.

7. Physical Verification of Inventory and Fixed Assets

Even though the physical verification of inventory and fixed assets followed by the Management are reasonable, in our opinion the company needs to be strengthening or improve the adequate procedures and controls in relation to the size of the Company and the nature of its business.

8. During this year the Company has incurred the expenditure toward Preliminary Expenses of Rs.90, 50,000/- It is totally written off in Profit and Loss Account during this Year.

9. Figures have been rounded off to the nearest rupee.

10. Previous year's figures have been regrouped / rearranged wherever necessary.

Mar 31, 2010

1. In the opinion of the management, the provident Fund and ESIC Act are not yet applicable. Hence no provision has been made for the same.

2. Miscellaneous Expenditure (to the extent w/off or adjusted) comprise of preliminary expenses, preoperative exp. & Deferred Revenue Expenses.

3. The balance of Debtors, Creditors, Loans & Advances are subject to confirmation from the parties.

4. In the opinion of Board, Current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the financial statement.

5. No provision has been made in respect of gratuity, Leave encashment and Leave Travel Allowance.

6. The previous years figures are regrouped & rearranged wherever necessary, if any

7. Additional information pursuant to the provision of Paragraphs 4 c of Part II of Scheduled VI of Companies Act, 1956

Note: * Excludes Service Tax



The earning per share computed as per the requirement under Accounting Standard 20 on Earning per Share issued by the Institute of Charted Accountant of India, is as under:

Net Profit / Loss after Tax as per P& L account : 44,304,012

Weighted average No. of Equity share outstanding : 43,059,999

Basic and diluted earning per share : 1.03

Oct 27, 12:00 am
Oct 27, 4:14 pm
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