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Notes to Accounts of Spectrum Foods Ltd.

Mar 31, 2015

Note 1: Shri Girdhar Saboo is director in the company. In all the other companies, one or more director/ shareholder is common having substantial interest of more than 10% in this company and the other company and as such associated companies

Note 2:

1) SBI Term Loan (Phalodi) is primarily secured against Plant, fixed assets of the company with extension of charge

2) SBI Term Loan (Phalodi) is primarily secured against Plant, fixed assets of the company with extension of charge

3) SBI term Loan (Ratlaam) is primarily secured against windmill at ratlaam with extension of charge 4)Terms of repayment are given below:

a)Term Loans taken from SBI is repayable in monthly installments of R s.10,00,000 b)Term Loans taken from SBI is repayable in monthly installments of R s.1,50,000 c)Term Loans taken from SBI is repayable in monthly installments of Rs.4,75,000

Note 3: Out of the above amt. Rs. nil pertain to the Micro, Small and Medium Enterprises (MSME) as defined under "Micro, Small and Medium Enterprises Development Act, 2006" based on th e information available with the Company. There is no intt. payable to such parties as at 31-3-2015 (31-3-2014 :Rs. N IL )

Note 4: The preliminary expenses are related to a new project at Phaludi (Raj.). T he project is still in progress and yet to be commissioned

* The company has been advised that the demand is likely not to be raised or deleted substantially and as such no provision is considered necessary

** Concept of materiality has been followed

*** The guarantee given is in respect of Saboo Sodium Chloro Ltd. which is a associate concern of the assessee

Note 5: Financial & Derivative Instruments

The company has not entered into any long term contracts including derivative contracts during the year

Note 6: There was no such segment in the FY 2013-14 and hence, comparatives not given Note 34: Previous year's figures have been regrouped or reclassified wherever considered necessary


Mar 31, 2014

1. Shri Girdhar Saboo is director in the company. In all the other companies, one or more director/ shareholder is common having substantial interest of more than 10% in this company and the other company

2. In respect of share application money outstanding the complete complience have been completed. Allotment of share are pending for approval of BSE. On receive of which share will be alloted

3. During the year preferential allotment of shares have been made which have earlier been forfeited by the company. Preferential allotments have been made to related parties also the details of which is appearing at the relevant place

4. Related Party Disclosures

Key Management Personnel

Vijay Kumar Verma

Atul Kharbanda

Girdhar Saboo

*Other Related Parties

Saboo Sodium Chloro Ltd

Fortress Hotels & Resorts (P) Ltd.

Girdhar Shaboo Tiger Salts Pvt. Ltd

Nawa Hotels & Resorts Private Limited

Rajasthan Mega Developers Private Ltd

Saboo Damodar Ropeways Pvt Ltd


Mar 31, 2013

Note 1.1 : Out of the above amount , Rs. nil pertain to the Micro, Small and Medium Enterprises (MSME) as defined under " Micro, Small and Medium Enterprises Development Act, 2006" based on the information available with the Company. There is no interest payable to such parties as at March 31, 2013 (March 31, 2012 :Rs. NIL )

Note 2.1: The preliminary expenses are related to a new project at Falodi (Raj.). The project is still in progress and yet to be commissioned

Note 3.1: Director of Saboo Sodium Chloro Ltd is having substantial shareholding above 10% in the company and is also director in the company. In case of Nawa Hotels & Resorts Pvt. Ltd. and Nawa Salts Pvt. L td. the director of the company is shareholder having substantial interest of more than 10%. All these advances are interest free

* on the basis of information provided by the management


Mar 31, 2012

Note 1.1 : Out of the above amount , Rs. nil pertain to the Micro, Small and Medium Enterprises (MSME) as defined "Micro Small and Medium Enterprises Development Act, 2006TH based on the Information available with the Company. There is no interest payable to such parties as at March 31, 2012 (March 31, 2011 :Rs. NIL )

Note 2.1: During the year under consideration, the company has incurred a substantial loss on account of washing away of stock of salt due to extraordinary circumstances. Accordingly, the c ompany has written off an amount of Rs.65.45 lacs on account of the same and the same is not part of the inventory.


Mar 31, 2010

1. Contingent liability- Nil

2. Book debts, advances, creditors, deposits etc. have been taken at their book value awaiting respective confirmation and subject to reconciliation.

3. Loans and advances and debtors have been considered good in respect of which the Company holds no security other than the personal guarantee of the person concerned.

4. So far as the information received from the creditors/ suppliers and as explained by the manage- ment, there were no SSI undertakings to which the Company owes any amount together with interest outstanding for more than 30 days.

5. During the year, the company had stock in trade of unquoted shares of Saboo Engitech Pvt. Ltd. & Fortress Hotels & Resorts Pvt. Ltd. As per the last available balance sheets of these companies, the values of these shares were substantially lower than the cost. It is the policy of the company to value the shares at lower of cost or market price whichever is less, where the market price is substantially lower than the cost. Therefore, following the consistent policy of the company these shares have been valued at such reduced valuation as calculated from the last available balance sheet instead of cost.

6. Additional information pursuant to para 3, 4 ofthe para II of schedule VI ofthe companies act, 1956 is given below (to the extent applicable):

7. There is no expenditure incurred on employees who were in receipt of remuneration in the aggregate of not less than Rs. 24,00,000/- per annum, if employed throughout the year or Rs.2,00,000/- per month if employed for a part of the year.

8. The Company is engaged in dealing of shares as well as trading in salt etc., which, as per AS- 17 "Segment Reporting" issued by the Institute of Chartered accountants of India, are consid- ered the reportable business segments of the Company. The sale, purchase etc. are separately shown in the p&l account for reporting the same. Most of the other expenses are non-allocable in nature.

9. Information pursuant to AS-18 related party disclosure is as under:

KEY MANAGEMENT PERSONNEL & RELATIVES:

1 Bhanwar Singh Director

2 Anuj Samdhani Director

3 Atul Kharbandha Director

10. The Company has applied the AS-22 issued by the Institute of Chartered Accountants of India. In view of uncertainty in realization of losses, no deferred tax provision has been made. However particulars pursuant to As-22 are as under:

11. Previous year figures have been regrouped and rearranged wherever it is necessary.

12. Figures have been round off to nearest rupee, wherever required.

 
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