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Notes to Accounts of Sri Havisha Hospitality & Infrastructure Ltd.

Mar 31, 2014

1. CONTINGENT LIABILITIES (Rs.in,000s) As on As on 31.03.2014 31.03.2013

Differential Customs Duties demanded by Customs authorities pending in Appeals 352.77 352.77

2. As the operations of the company by way of Bottling of LPG are going on and as the company has various new scheme of activities and plans for the future, the accounts of the Company for the year are drawn up on going concern basis.

3. Balances standing to the debit/credit of parties are subject to reconciliation by the company confirmation by them and review by the Company.

4. "Other Non-Current Assets" represent amount encashed by The Kerala State Co-operative Consumer Federation Ltd. from State Bank of Hyderabad and Punjab National Bank by invoking guarantees given in their favour by the company and are considered good and recoverable by the Company, and the Company has filed a suit for the recovery of the amount.

5. The Company is entitled for deferred payment of Sales tax due to Government of Andhra Pradesh under New Comprehensive Scheme of State Incentives, 1992 (NCSSI) for Kakinada Unit. Such deferred amount is payable by the company at the end of 10 years. Under the Scheme, the company has deferred payment of a sum of Rs.283.67 Lakhs to the Government of Andhra Pradesh and the same is shown under "Long Term Borrowings Loans".

6. All Current Assets as at 31.03.2014 have a value on realization in the ordinary course of business atleast value equal to amounts at which they have been stated in the Balance Sheet as on that date.

7. Investments (Schedule V) of the Company are long-term investments. Hence, no provision is made for diminution in the value of Investments as it is temporary.

(I) The company is organized into two main business segments namely Liquefied Petroleum Gas –Comprising of Bulk and Packed LPG -- Auto Conversion Kits- LPG conversion kits for three wheelers Segments have been identified and reported taking into account the nature of products and services, the differing risks and returns, the organization structure, and the Internal financial reporting system

(ii) Segment Revenue in each of the above domestic business segments primarily includes sales and bottling charges

(iii) Segment revenue, results, assets and liabilities include the respective amounts identifiable to each of the segments and amounts allocated on a reasonable basis.

8. Related Party Disclosures:

Related party disclosures, as required by Accounting Standard 18, "Related Party Disclosures" issued by the institute of Chartered Accountants of India are given below:

(2) Related parties :

a) M/s. Shri Shakti Resorts & Hotels Limited

b) M/s. Shri Shakti Cylinders Private Limited

The company during the year had no transactions with the above related parties.

9. Previous Year''s figures have been re-grouped/re-classified/re- stated as far as practicable and wherever necessary to confirm with current year presentation.


Mar 31, 2013

1. CONTINGENT LIABILITIES

( Rs. in ''000s)

As on 31.03.2012 As on 31.03.2011

i) Claims not acknowledged as debts 668 668

ii) Differential Customs Duties demanded by

Customs authorities pending in Appeals 26,915 26,915

2. As the operations of the company by the way of bottling LPG are going on and as the company has various new scheme of activities and plans for the future, the accounts of the Company for the year are drawn up ''on going concern'' basis.

3. Balances standing to the debit/credit of parties are subject to reconciliation by the company confirmation by them and review by the Company.

4. "Other Non-Current Assets" represent amount encashed by The Kerala State Co-operative Consumer Federation Ltd. from State Bank of Hyderabad and Punjab National Bank by invoking guarantees given in their favour by the company and are considered good and recoverable by the Company, and the Company has filed a suit for the recovery of the amount.

5. The Company is entitled for deferred payment of Sales tax due to Government of Andhra Pradesh under New Comprehensive Scheme of State Incentives, 1992 (NCSSI) for Kakinada Unit. Such deferred amount is payable by the company at the end of 10 years. Under the Scheme, the company has deferred payment of a sum of Rs.283.67 Lakhs to the Government of Andhra Pradesh and the same is shown under "Long Term Borrowings Loans".

6. All Current Assets as at 31.03.2013 have a value on realization in the ordinary course of business atleast value equal to amounts at which they have been stated in the Balance Sheet as on that date.

7. "Investments" (Note No.2.7) of the Company are long-term investments. Hence, no provision is made for diminution in the value of Investments as it is temporary.

8. The information as to the status of the suppliers being SSI units is not made available to the Company. Hence, identification of debts in respect of these units and their aging cannot be ascertained.

(II) Notes :-

(i) The company is organized into two main business segments namely

Liquified Petroleum Gas —Comprising of Bulk and Packed LPG

- Auto Conversion Kits- LPG conversion kits for three wheelers

Segments have been identified and reported taking into account the nature of products and services, the differing risks and returns, the organization structure, and the Internal financial reporting system

(ii) Segment Revenue in each of the above domestic business segments primarily includes sales and bottling charges

(iii) Segment revenue, results, assets and liabilities include the respective amounts identifiable to each of the segments and amounts allocated on a reasonable basis.

9. Related Party Disclosures :

Related party disclosures, as required by Accounting Standard 18, "Related Party Disclosures" issued by the institute of Chartered Accountants of India are given below :

1) Key Management Personnel : Directors :

Mr.D.V.Manohar

Mr.S.V.Subramanian

Sitting fee ofRs. 41.5 Thousands (Previous Year - Rs. 0.50Thousands) was paid during the year.

2) Subsidiary Company :

M/s. Asia LPG Private Limited

There are no transactions carried out witii the subsidiary company in the ordinary course of business during the year.

3) Related parties

a) M/s. Shri Shakti Resorts & Hotels Limited

b) M/s. Shri Shakti Cylinders Private Limited

The company during the year had no transactions with the above related parties.

10. Previous Year''s figures have been re-grouped/re-classified/re-stated as far as practicable and wherever necessary to confirm with current year presentation.

11. Amounts have been rounded off to the nearest thousands.

 
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