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Notes to Accounts of Sun Source (India) Ltd.

Mar 31, 2015

1. Right, Preferences and Restriction attached to shares Equity shares

The company has only one class of Equity having a par value Rs. 10.00 per share. Each shareholder Is eligible for one vote per share held. The dividend proposed by the board of directors is. subject to the approval Of the shareholders in ensuing Annual General Meeting, except in case of interim dividen In the event .of liquidation, the Equity shareholders' are eligible to receive the remaining assets of the company after distribution of all preferential amounts, in proportion to their shareholding.

2. Corporate Information

Sun Source (India) Limited was incorporated under the Companies Act, 1956 on 10-04- 1992.

The Company is principally engaged in executing alternate power projects During the year, the. Company is in the process of exploring sources of alternate power projects. As an ancillary activity, the Company carries trading activity. During the year the income is mainly from this trading activity.

3. Gujarat Electricity Board has filed a suit against the company for recovery of electricity dues, penalty etc, for approx 3 Lacs, The Company has opted for settlement of the dues under the Amnesty scheme of Government of Gujarat. The liability if any is not ascertainable.

4. RSEB has invoked Bank guarantee of 75 lac given by Vijaya Bank, against Fixed Deposit placed by the company. RSEB has received 75 Lac from Vijaya Bank & 25 lac which were lying with RSEB is also confiscated. However on the request of the company, RSEB has kept ' 100 lac as interest free deposit for future work that would be given to the company. Hence ' 1 crore is Shown as advance to RSEB.

5. Previous Year's figures have been regrouped wherever necessary.

6. The Company has no information on micro, small or medium enterprises to whom the Company owes dues, which are outstanding over 45 days as at 31st March 2014 as required, under the Micro, Small and Medium Enterprises Development Act, 2006.

7. The balance in respect of Trade Receivables, loans and advances- Long Term and Short Term Deposits, bank balances and other accounts, either debit or credit, as appearing in the books of accounts are subject to confirmations from the respective parties as well as the reconciliation/ adjustments, if any, arising there from.


Mar 31, 2014

1. Preliminary Expenses: The Company has not written off preliminary & Public issue expenses till date.

2. Gujarat Electricity Board has filed a suit against the company for recovery of electricity dues, penalty etc, for approx Rs, 3 Lacs. The Company has opted for settlement of the dues under the Amnesty scheme of Government of Gujarat. The liability if any is not ascertainable.

3. RSEB has invoked Bank guarantee of Rs, 75 lac given by Vijaya Bank, against Fixed

Deposit placed by the company. RSEB has received Rs, 75 Lac from Vijaya Bank & Rs, 25 lac which were lying with RSEB is also confiscated. However on the request of the company, RSEB has kept Rs, 100 lac as interest free deposit for future work that would be given to the company. Hence Rs, 1 crore is shown as advance to RSEB.

4. Previous Year's figures have been regrouped wherever necessary.

5. In accordance with Accounting Standard – 20, issued by the Institute of Chartered Accountants of India, the basic and diluted Earnings per Share Rs, (0.21) has been determined considering the numerator of Rs, (23,69,230) as the Earnings after Tax as per the Profit & Loss account for the year and denominator of 143,91,461 Equity Shares. There has been no change in the Equity Share Capital as compared to the previous year.

6. The Company has no information on micro, small or medium enterprises to whom the Company owes dues, which are outstanding over 45 days as at 31st March 2013 as required under the Micro, Small and Medium Enterprises Development Act, 2006.

7. The balance in respect of Trade Receivables, loans and advances- Long Term and Short Term, Deposits, bank balances and other accounts, either debit or credit, as appearing in the books of accounts are subject to confirmations from the respective parties as well as the reconciliation/ adjustments, if any, arising there from.


Mar 31, 2010

1. Previous Years figures have been regrouped wherever necessary.

2. The figures have been round off to nearest rupee.

3. RSEB has invoked Bank guarantee of Rs. 75 iacs given by Vijaya Bank, against Fixed Deposit placed by the Company. RSEB has received Rs. 75 lacs from Vijaya Bank & Rs. 25 lacs, which were lying with RSEB as Deposit is also confiscated. However, on request from the Company, RSEB has kept Rs. 1 crore as interest free deposit for future work that would be given to the company, Hence Rs. 1 crore is shown as Advance to RSEB.

4. Payment to Auditors:

Current Year Rs, Previous Year Rs,

Audit Fees 10,000/- 20,000/-

5. The balance in respect of sundry debtors, loans and advances, deposites, bank balances and other accounts, either debit or credit, as appearing in the books of acounts are subject to confirmations from the respective parties as well as the reconciliation/adjustments, if any, arising tere from.

 
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