Home  »  Company  »  South India Projects  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of South India Projects Ltd.

Mar 31, 2015

1. CORPORATE INFORMATION

South India projects Limited (the 'Company' or 'SIPL') is a public Company domiciled in India and incorporated on December 4, 1981 under the provisions of the Companies Act, 1956. The Company has received a Certificate of Registration from the Reserve Bank of India ('RBI') on December 5, 2001 to commence/carry on the business of Non- Banking Financial Institution ('NBFC') without accepting public deposits.

2. BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements of the Company have been prepared in accordance with Generally Accepted Accounting Principles in India ('Indian GAAP') to comply with the Accounting Standards specified under Section 133 of the Companies Act, 2013 ('the 2013 Act') read with Rule 7 of the Companies (Accounts) Rules, 2014 and the relevant provisions of the 2013 Act / Companies Act, 1956 ('the 1956 Act') as applicable. The financial statements have been prepared on the accrual basis under the historical cost convention. The accounting policies adopted in the preparation of the financial statements are consistent with those followed in the previous year unless stated otherwise.

a)Terms/Rights attached to Equity Shares:

The Company has only one class of equity shares having a par value of ' 10 per share. Each holder of equity shares is entitled to one vote per share. The dividend, if any is proposed by the Board of Directors and is subject to the approval of The shareholders in the ensuing Annual General Meeting. In the event of liquidation of 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.

3. Related Party Disclosures (Where transactions exist)

As per Accounting Standard 18 on 'Related Party Disclosures' as notified under the Accounting Standards specified under Section 133 of the 2013 Act read with Rule 7 of the Companies (Accounts) Rules, 2014, the related parties of the Company are as follows:

Associates -

AKI Investment Pvt. Ltd.

Century Business Ltd.

4. No amount is payable to 'Suppliers' registered under the Micro, Small and Medium Enterprises Development Act, 2006. No interest has been paid / payable by the Company during the year to the 'Suppliers' covered under the Micro, Small and Medium Enterprises Development Act, 2006.

5. Segment Reporting

Since the Company has only one reportable business segment "Financing / Investment in Shares and Securities" as primary segment and it operates in a single geographical segment within India, no disclosure is required to be given as per Accounting Standard - 17 'Segmental Reporting' as notified under Section 133 of the Companies Act, 2013 ('the Act') read together with paragraph 7 of the Companies (Accounts) Rules, 2014.

6. Contingent Liabilities

There is no contingent Liabilities as on 31.03.2015

7. Figures for previous year have been regrouped and/or reclassified wherever considered necessary, to conform to current year's classification.


Mar 31, 2014

1. Other Notes :

i) Sundry Creditors, Debtors and Advances are subject to confirmation.

ii) Segment Reporting :

The Company is engaged primarily in the business of Financing/Investment in Shares and Securities accordingly there are no separate reportable segments as per A.S. 17.

iii) "Related Party Discloser" under A.S.-18 : (To the extent of transaction)

iv) There is no amount due to Micro, Small and Medium Enterprise as on 31-03-2014.

v) Previous year figures have been regrouped/reclassified to conform to this year''s classification.


Mar 31, 2013

I) Sundry Creditors, Debtors and Advances are subject to confirmation.

ii) Segment Reporting :

The Company is engaged primarily in the business of Flnancing/lnvestment in Shares and trading of Shares and accordingly there are no separate reportable segments as per A.S. 17.

iii) "Related Party Discloser" under A.S.-18 :

a) Particulars of Related Parties -

i) Key Management Personnel - Sri J. P. Tantia - Director

ii) Relative of KMP - Sri Akash Tantia - Son of a Director,

- Smt. Kaiiash Devi Tantia (wife of a Director) J. P. Tantia (HUF)

iii) Associate Companies - Swastik Township Pvt. Ltd.

iv) There is no amount due to Micro, Small and Medium Enterprise as on 31-03-2013.

v) Previous year figures have been regrouped/reclassified to conform to this year''s classification.


Mar 31, 2012

I) Sundry Creditors, Debtors and Advances are subject to confirmation.

ii) Segment Reporting :

The Company is engaged primarily in the business of Financing/lnvestment in Shares and trading of Shares and accordingly there are no separate reportable segments as per A.S. 17.

iii) "Related Party Discloser" under A.S.-18 ;

a) Particulars of Related Parties -

i) Key Management Personnel - Sri J. P. Tantia - Director

ii) Relative of KMP - Sri Akash Tantia - Son of a Director, - Smt. Kailash Devi Tantia (wife of a Director) J. P. Tantia (HUF)

iii) Associate Companies - Swastik Township Pvt. Ltd.

iv) There is no amount due to Micro, Small and Medium Enterprise as on 31-03-2012.

V) Expenditure in Foreign Currency

Travelling - Rs. Nil (Previous year Rs. 69,175/-)

vi) Previous year figures have been regrouped/reclassified to conform to this year''s classification.


Mar 31, 2011

1. Sundry Creditors, Debtors and Advances are subject to confirmation.

2. Directors Remuneration - Rs: 6,00,000/- (Previous Year Rs. 1,20,000/-).

3. Segment Reporting :

The Company is engaged primarily in the business of Financing/lnvestment in Shares and trading of Shares and accordingly there are no separate reportable segments as per A.S. 17

4. There is no amount due to Micro, Small and Medium Enterprise as on 31-03-2011.

5. Expenditure in Foreign Currency

Travelling - Rs.. 69,175/- (Previous year Rs, - 1,11,053/-)

6. Previous year figures have been regrouped / re-arranged wherever deemed necessary.

 
Subscribe now to get personal finance updates in your inbox!