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Notes to Accounts of Tirupati Sarjan Ltd.

Mar 31, 2015

I Background

TIRUPATI SARJAN LTD undertakes civil construction and real estate development business. The company specializes in developing residential, commercial and government projects across Asia and Africa; in particular India where we have number of projects under development. The company has undertaken many projects of construction of Hospitals colleges, and Infrastructural development work like Road development, canals bridges etc. In short span of time, Tirupati Group has curved a niche for itself for providing affordable residential and commercial real estate solutions that offer value for money to its customers.

(a) Corporate Social Responsiblity

During the year company has spend total amount of Rs. 7,12,547 for upliftment of poor people and for eduacation of children as Corporate social resposibility Activities.

(b) Segment Reporting

Company has prepared its financial statement according to Accounting Standard 17 issued by The Institute of Chartered Accountants of India. Company has stated segment wise revenue in its financial statement, viz. income from construction activities, Tender Division. Company's business activities are confined only to India more particularly in North Gujarat. Hence, no additional disclosures are made as required under Accounting Standard 17 issued by The Institute of Chartered Accountants of India. A statement showing activity wise sales/revenue, is as under:

(c) Related Party Disclosures

Related party disclosures ,as required by AS-18."Related Party Disclosures",are given below:

1. Relationships:

(i) Key Management Personnel and their relatives :

1. Ankit R. Shah

2. Bhailal B. Shah

3.Jitendrakumar I. Patel

4. Jashwantlal K. Patel

5. Ruchir R. Patel

6. Soham B. Patel.

(ii) Relatives of the Key Management Personnel

1. Alka R. Shah

2. Jimit R. Shah

3. Jalpaben C. Patel

4. Hiralal Shankarlal Patel.

5. Chintan J. Patel

6. Jasmin J. Patel

7. Rushikesh G. Patel

(ii) Enterprises over which the key management personnel and/or their relatives have significant influence

1.Siddh Corporation

2.Tirupati Natural park

3. Tirupati Quarry Works

4. Patel Steel Corporation

5. Rajesh J. Shah & Associates

6. Bharat Pipe Industries.

7.Dhruvi Ceramic Pvt. Ltd.

8.Titan Investment

9. Umiya Marble & Stone Ind.

10. Tirupati Development (U) Ltd.

11. Adishwar Infrastructure Pvt. Ltd.

12. Panchshi Trust-Kansa

13 Tirupati Foundation


Mar 31, 2014

I Background

TIRUPATISARJAN LTD undertakes civil construction and real estate development business. The company specializes in developing residential, commercial and government projects across Asia and Africa; in particular India where we have number of projects under development. The company has undertaken many projects of construction of Hospitals colleges, and Infrastructural development work like Road development, canals bridges etc. In short span of time, Tirupati Group has curved a niche for itself for providing affordable residential and commercial real estate solutions that offer value for money to its customers.

(a) Contingent liabilities and commitments (to the extent not provided for) (Amount in Lacs)

Particulars As at As at March 31,2014 March 31,2013

(i) Contingent Liabilities

(a) Unexpired Bank Guarantee 1,572.01 1,004.00

(b) Limited Liability Bank Guarantee 3,803.12 3,803.12

5,375.13 4,807.12

(b) Segment Reporting

Company has prepared its financial statement according to Accounting Standard 17 issued by The Institute of Chartered Accountants of India. Company has stated segment wise revenue in its financial statement, viz. income from construction activities, Tender Division. Company''s business activities are confined only to India more particularly in North Gujarat. Hence, no additional disclosures are made as required under Accounting Standard 17 issued by The Institute of Chartered Accountants of India. A statement showing activity wise sales/revenue, is as under:

(g) Related Party Disclosures

Related party disclosures ,as required by AS-18."Related Party Disclosures",are given below:

1. Relationships:

(i) Key Management Personnel and their relatives :

1. Jitendrakumar I. Patel

2. Alka R. Shah

3. Ankit R. Shah

4. Natubhal K. Patel

5. Bhailal B. Shah

6. Jimit R. Shah

7. Jalpaben C. Patel

8. Rushlkesh G. Patel

9. Somabhai J. Prajapati

10. Hardikkumar M Patel

11. Jashwantlal K. Patel

12. Ruchir R. Patel

13. Soham B. Patel.

14. Chintan J. Patel

15. Ketan Natubhai Patel

16. Jasmin J. Patel

17. Poonam N. Patel

18. Vijay S. Prajapati

19. Kamal M. Patel

20. Nehalkumar J Patel

(ii) Enterprises over which the key management personnel and/or their relatives have significant influence

1. Siddh Corporation

2. Tirupati Natural park

3. Tirupati Quarry Works

4. Patel Steel Corporation

5. Rajesh J. Shah & Associates

6. Bharat Pipe Industries.

7. Tirupati Shyam Enterprise

8. Tirupati Foundation (Trust)

9. Umiya Marble & Stone Ind.

10. Tirupati Development (U) Ltd.

11. Adishwar Infrastructure Pvt. Ltd.

12. Panchshi Trust-Kansa


Mar 31, 2013

I Background

"TIRUPATI SARJAN LTD undertakes civil construction and real estate development business. The company specializes in developing residential, commercial and government projects across Asia and Africa; in particular India where we have number of projects under development. The company has undertaken many projects of construction of Hospitals colleges, and Infrastructural development work like Road development, canals bridges etc. In short span of time, Tirupati Group has curved a niche for itself for providing affordable residential and commercial real estate solutions that offer value for money to its customers.

(a) Related Party Disclosures

Related party disclosures ,as required by AS-18."Related Party Disclosures",are given below:

1.Relationships:

(i) Key Management Personnel and their relatives :

1. Chandrakant T. Patel 11.Jitendrakumar I. Patel

2. Alka R. Shah 12.Jashwantlal K. Patel

3. Ankit R. Shah 13. Ruchir R. Patel

4. Natubhai K. Patel 14. Soham B. Patel.

5. Bhailal B. Shah 15. Chintan J. Patel

6. Jimit R. Shah 16. Ketan Natubhai Patel

7. Jalpaben C. Patel 17. Jasmin J. Patel

8. Rushikesh G. Patel 18. Poonam N. Patel

9. Somabhai J. Prajapati 19. Vijay S. Prajapati

10. Hiralal Shankarlal Patel.

* Mrs. Alka R. Shah who is an Independent director of the company, is wife of Mr. Rajesh J. Shah one of the partner of audit firm.

* Mr. Chandrakant T. Patel who was a Managing director of the company, being eligible for re appoint ment was not re appointed by the members at the Annual General Meeting of the Company held on 27th September, 2012.


Mar 31, 2012

(i) Nature of Security

1 Secured against Hypo of stock and book debts & Equitable Mortgage of Shops of Shops at Tirupati Bazar, Patan, Gr. Floor, Second Floor, Tirupati Market, Siddhpur, Gr. Floor, First Floor, Second Floor.

2 Secured against equitable mortgage of NA Land and Proposed construction thereon situated at R.S. No. 81/1 CTS No. 1051 Opp. GEB Gayatri Mandir Road Visnagar, Mehesana, Residential Project Tirupati Greenz.

3 Secured against the personal guarantee of all Directors.

4 Secured against Land S. No. 309, 2735, 2734/2, 2734/3 jointly owned in the name of Mr. Natubhai K. Patel and Mr. Somabhai J. Prajapati directors of the company and S. No. 425 in the name of Guarantor)

1 Accounting Policies

I Background

TIRUPATI SARJAN LTD undertakes civil construction and real estate development business. The company specializes in developing residential, commercial and government projects across Asia and Africa; in particular India where we have number of projects under development. The company has undertaken many projects of construction of Hospitals colleges, and Infrastructural development work like Road development, canals bridges etc. In short span of time, Tirupati Group has curved a niche for itself for providing affordable residential and commercial real estate solutions that offer value for money to its customers. Q. Other Notes to Accounts

(a) Contingent liabilities and commitments (to the extent not provided for) (Amount in Lacs)

As at As at Particulars March 31, 2012 March 31, 2011

(i) Contingent Liabilities

(a) Unexpired Bank Guarantee 856.37 333.86

(b) Limited Liability Bank Guarantee 1,500.69 -

2,357.06 333.86

(c) Segment Reporting

Company has prepared its financial statement according to Accounting Standard 17 issued by The Institute of Chartered Accountants of India. Company has stated segment wise revenue in its financial statement, viz. income from construction activities, Tender Division. Company's business activities are confined only to India more particularly in North Gujarat. Hence, no additional disclosures are made as required under Accounting Standard 17 issued by The Institute of Chartered Accountants of India. A statement showing activity wise sales/revenue, is as under:


Mar 31, 2011

1) Mrs. Alka R. Shah who is independent director of the company, is a wife of Mr. Rajesh J. Shah one of the partner of audit firm.

2) Investments at the year-end have been physically verified, valued and certified by the management.

3) Closing stock of materials as on 31-03-2011 has been physically verified, valued and certified by the management and the same has been incorporated in the Balance Sheet.

4) In the opinion of the Board of the Directors and Management, the Current Liabilities, Unsecured loans, Current Assets, Loans and Advances the values at which they are stated in accounts, so realizable in the ordinary course of business, their confirmation/ reconciliation however are in arrears.

5) Contingent liability

2010-11 2009-10

1) Unexpired Bank Guarantee 3,33,86,090 3,36,86,090

11) Quantitative Information (Certified by Management)

i) Licensed/Installed Capacity : Not Applicable

12) Previous year figures have been regrouped and rearranged wherever required.

13)

CATEGORY I

Name of Associate concerns wherein the directors and/or their relatives are interested.

1. Maulik Enterprise

2. Indian Tube Corporation

3. Manas Builders

4. Swastik Traders

5. Shree Engineers

6. Siddh Corporation

7. Tirupati Natural Park

8. Meenaben Rushikesh Patel

9. Titan Laboratories Pvt. Ltd.

10. Harendra J. Shah

11. Jagdishbhai T. Patel

12. Jivabhai J. Prajapati

13. Kashirambhai J. Patel

14. Panchshil Trust

15. Patel Steel Corporation

16. Rajesh J. Shah & Associates

17. Umiya Marble & Stone Industries

18. Pravin Pumps Pvt. Ltd.

19. Amrut Corporation

20. Bharat Pipe Industries.

21. Dhruvi Ceramic Pvt. Ltd.

22. Pravin Spin Tex Pvt. Ltd.

23. Titan Investment

24. Jaswantlal D. Shah

25. Bhikhabhai J. Prajapati

26. Ketan Natubhai Patel

27. Jivanlal Ramanlal Patel

28. C. J. Infrastructure

17) Information required in terms of Part IV of Schedule VI of the Companies Act, 1956 is attached.

18) Schedule 1 to 12 form an integral part of the Balance Sheet and Profit & Loss Account.

19. Generic Names of Three Principal Products (as per monetary terms)

Item Code No. ( Code) N. A.

Product N. A.

Description (The Company is engaged in the business of Real Estate Development and Construction Activities)

 
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