Mar 31, 2015
1. Basis of Preparation of Financial Statements:
a. The Company follows Mercantile System of Accounting and generally
recognizes Income and Expenditure on accrual basis except in case of
significant uncertainties and are prepared on historical cost
convention.
b. The Financial Statements of the Company have been prepared in
accordance with the generally accepted accounting principles in India
(Indian GAAP) and comply with accounting standard applicable under
section 133 of the Companies Act, 2013, read with rule 7 of the
Companies (Accounts) Rules, 2014 (As amended and relevant provisions of
the Companies Act, 2013 as applicable.
c. Estimates and Assumptions used in the preparation of the financial
statements are based upon Management's evaluation of the relevant facts
and circumstances as of the date of the Financial Statements, which may
differ from the actual results at a subsequent date.
2. Revenue Recognition:
1. Revenue from Hotel activity is recognized on rendering of services
net of Taxes and billing to the customer.
2. Interest income is recognized on a time proportion basis taking
into account the amount outstanding and the rate applicable.
3. Fixed Assets:
Fixed assets are stated at cost less accumulated depreciation. The
Company capitalizes all direct costs relating to the acquisition and
installation of fixed assets. Interest on borrowed funds, if any, used
to finance the acquisition of fixed assets, is capitalized up to the
date the assets are ready for commercial use. Under-utilized assets are
recorded at estimated realizable value.
4. Method of Depreciation:
The Company provides depreciation on all its assets on the Straight
Line method at the rates and useful life of Assets in the manner
specified in Schedule II of the Companies Act, 2013, proportionate from
the date they are put to use.
5. Investments:
Long term investments including interests in incorporated jointly
controlled entities, are carried at cost, after providing for any
diminution in value, if such diminution is of permanent nature. Current
investments are carried at lower of cost or market value. The
determination of carrying amount of such investments is done on the
basis of specific identification.
6. Retirements Benefits:
i. Gratuity:
The Company provides for gratuity, a defend retirement benefit plan
covering eligible employees. The gratuity plan provides for a lump sum
payment to employees at retirement, death, incapacitation or
termination of the employment based on the respective employee's salary
and the tenure of the employment. Liabilities with regard to gratuity
plan are determined based on actuarial valuation carried out by
independent actuary as at the Balance Sheet date.
Actuarial gains and losses are recognized in full in the Profit and
Loss account for the year in which they occur. (Refer note 26 B (10)
below).
ii. Provident Fund:
The eligible employees of the Company are entitled to receive the
benefits of Provident fund, a defend contribution plan, in which both
employees and the Company make monthly contributions at a specified
percentage of the covered employee's salary (currently at 12% of the
basic salary). The contributions as specified under the law are paid to
the Regional Provident Fund Commissioner by the Company.
iii. Leave Encashment:
Employees' are eligible for Leave Encashment. The Company has provided
Leave Encashment benefit on actuarial value basis.
iv. Employees' State Insurance Scheme (ESIS):
Employees' State Insurance Scheme (ESIS) is the defend contribution
scheme offered by the Company. The contribution to this scheme is
charged to the Profit and loss account of the year in which
contribution to such scheme becomes due.
7. Inventories:
Stock of food and beverages and operating supplies are carried at cost
computed on a weighted average basis or Net Realizable Value, whichever
is lower.
8. Research and Development:
The Company does not have a separate Research and Development
department and has not incurred any expenditure on Research and
Development.
9. Taxation:
Deferred tax resulting from timing differences between book Profits and
taxable Profits is accounted for using the tax rates that have been
enacted or substantially enacted by the Balance Sheet date to the
extent such differences are reversible in subsequent period. Deferred
Tax assets are recognized only if there is reasonable certainty that
they will be realized and are reviewed for the appropriateness of their
carrying values at each Balance Sheet date.
10. Earnings per Share:
The Company reports basic earnings per share in accordance with
Accounting Standard 20 on 'Earnings per Share'. Basic earnings per
share is computed as dividing the net Profit or loss for the period by
the weighted average number of Equity shares outstanding during the
period.
Mar 31, 2014
1. Basis of Preparation of Financial Statements:
a. The Company follows Mercantile System of Accounting and generally
recognizes Income and Expenditure on accrual basis except in case of
significant uncertainties.
b. The Financial Statements are prepared on historical cost convention
in accordance with the applicable Accounting Standards and the
provision of the Companies Act, 1956.
c. Estimates and Assumptions used in the preparation of the financial
statements are based upon Management''s evaluation of the relevant facts
and circumstances as of the date of the Financial Statements, which may
differ from the actual results at a subsequent date.
2. Revenue Recognition:
1. Revenue from Hotel activity is recognized on rendering of services
net of Taxes and billing to the customer.
2. Interest income is recognized on a time proportion basis taking into
account the amount outstanding and the rate applicable.
3. Fixed Assets:
Fixed assets are stated at cost less accumulated depreciation. The
Company capitalizes all direct costs relating to the acquisition and
installation of fixed assets. Interest on borrowed funds, if any, used
to finance the acquisition of fixed assets, is capitalized up to the
date the assets are ready for commercial use. Under-utilized assets are
recorded at estimated realizable value.
4. Method of Depreciation:
The Company provides depreciation on all its assets on the Straight
Line method at the rates and in the manner specified in Schedule XIV of
the Companies Act, 1956, proportionate from the date they are put to
use.
5. Investments:
Long term investments including interests in incorporated jointly
controlled entities, are carried at cost, after providing for any
diminution in value, if such diminution is of permanent nature. Current
investments are carried at lower of cost or market value. The
determination of carrying amount of such investments is done on the
basis of specific identification.
6. Retirements Benefits:
i. Gratuity:
The Company provides for gratuity, a defined retirement benefit plan
covering eligible employees. The gratuity plan provides for a lump sum
payment to employees at retirement, death, incapacitation or
termination of the employment based on the respective employee''s salary
and the tenure of the employment. Liabilities with regard to gratuity
plan are determined based on actuarial valuation carried out by
independent actuary as at the Balance Sheet date.
Actuarial gains and losses are recognized in full in the Profit and
Loss account for the year in which they occur. (Refer note 27 B (11)
below).
ii. Provident Fund:
The eligible employees of the Company are entitled to receive the
benefits of Provident fund, a defined contribution plan, in which both
employees and the Company make monthly contributions at a specified
percentage of the covered employee''s salary (currently at 12% of the
basic salary). The contributions as specified under the law are paid to
the Regional Provident Fund Commissioner by the Company.
iii. Leave Encashment:
Employees'' are eligible for Leave Encashment. The Company has provided
Leave Encashment benefit on actuarial value basis.
iv. Employees'' State Insurance Scheme (ESIS):
Employees'' State Insurance Scheme (ESIS) is the defined contribution
scheme offered by the Company. The contribution to this scheme is
charged to the profit and loss account of the year in which
contribution to such scheme becomes due.
7. Inventories:
Stock of food and beverages and operating supplies are carried at cost
computed on a weighted average basis or Net Realizable Value, whichever
is lower.
8. Research and Development:
The Company does not have a separate Research and Development
department and has not incurred any expenditure on Research and
Development.
9. Taxation:
Deferred tax resulting from timing differences between book profits and
taxable profits is accounted for using the tax rates that have been
enacted or substantially enacted by the Balance Sheet date to the
extent such differences are reversible in subsequent period. Deferred
Tax assets are recognized only if there is reasonable certainty that
they will be realized and are reviewed for the appropriateness of their
carrying values at each Balance Sheet date.
10. Earnings per Share:
The Company reports basic earnings per share in accordance with
Accounting Standard 20 on ''Earnings per Share''. Basic earning per share
is computed as dividing the net profit or loss for the period by the
weighted average number of Equity shares outstanding during the period.
Mar 31, 2013
1. Basis of Preparation of Financial Statements:
a. The Company follows Mercantile System of Accounting and generally
recognizes Income and Expenditure on accrual basis except in case of
signifcant uncertainties.
b. The Financial Statements are prepared on historical cost convention
in accordance with the applicable Accounting Standards and the
provision of the Companies Act, 1956.
c. Estimates and Assumptions used in the preparation of the fnancial
statements are based upon Management''s evaluation of the relevant facts
and circumstances as of the date of the Financial Statements, which may
differ from the actual results at a subsequent date.
2. Revenue Recognition:
1. Revenue from Hotel activity is recognized on rendering of services
net of Taxes and billing to the customer.
2. Income from derivatives comprises proft/loss on equity derivative
instruments.
Proft/loss on equity derivative transactions is accounted for as
explained below:
a. Initial and additional margin paid over and above initial margin,
for entering into contracts for Equity Index/ Stock Futures and or
equity Index/stock options which are released on fnal
settlement/squaring-up of underlying contracts are disclosed under
Current Assets, Loans and advances. "Mark-to-market margin- Equity
Index/ Stock Futures" representing the amounts paid in respect of mark
to market margin is disclosed under Loans and Advances and amount
received is shown under current liabilities.
b. "Equity Index/Stock Option Premium Account" represents premium paid
or received for buying or selling the options, respectively.
c. On fnal settlement or squaring up of contracts for equity index /
stock futures, the realized proft or loss after adjusting the
unrealized loss already accounted, if any, is recognized in the Proft
and Loss Account. On settlement or squaring up of equity index / stock
options before expiry, the premium prevailing in "Equity Index/Stock
Option Premium Account" on that date is recognized in the Proft and
Loss Account. When more than one contract in respect of the relevant
series of equity index / stock futures or equity index / stock options
contract to which the squared-up contract pertains is outstanding at
the time of the squaring-up of the contract, the contract price of the
contract so squared-up is determined using the weighted average cost
method for calculating the proft/loss on squaring-up. As at the balance
sheet date, the mark to market on all hedged transactions comprising of
Securities and Equity.
Derivatives positions are determined on a Portfolio basis with net
unrealized losses being recognized in the Proft and Loss Account.
Unrealized gains (on portfolio basis) are not recognized in the Proft
and Loss Account on grounds of prudence as enunciated in Accounting
Standard - 1, Disclosure of Accounting Policies.
3. Fixed Assets:
Fixed assets are stated at cost less accumulated depreciation. The
Company capitalizes all direct costs relating to the acquisition and
installation of fxed assets. Interest on borrowed funds, if any, used
to fnance the acquisition of fxed assets, is capitalized up to the date
the assets are ready for commercial use. Under-utilized assets are
recorded at estimated realizable value.
4. Method of Depreciation:
The Company provides depreciation on all its assets on the Straight
Line method at the rates and in the manner specifed in Schedule XIV of
the Companies Act, 1956, proportionate from the date they are put to
use.
5. Investments:
Long term investments including interests in incorporated jointly
controlled entities, are carried at cost, after providing for any
diminution in value, if such diminution is of permanent nature. Current
investments are carried at lower of cost or market value. The
determination of carrying amount of such investments is done on the
basis of specifc identifcation.
6. Retirements Benefts:
i. Gratuity:
The Company provides for gratuity, a defned retirement beneft plan
covering eligible employees. The gratuity plan provides for a lump sum
payment to employees at retirement, death, incapacitation or
termination of the employment based on the respective employee''s salary
and the tenure of the employment. Liabilities with regard to gratuity
plan are determined based on actuarial valuation carried out by
independent actuary as at the Balance Sheet date. Actuarial gains and
losses are recognized in full in the Proft and Loss account for the
year in which they occur. (Refer note 27 B (11) below).
ii. Provident Fund:
The eligible employees of the Company are entitled to receive the
benefts of Provident fund, a defned contribution plan, in which both
employees and the Company make monthly contributions at a specifed
percentage of the covered employee''s salary (currently at 12% of the
basic salary). The contributions as specifed under the law are paid to
the
Regional Provident Fund Commissioner by the Company. iii. Leave
Encashment:
Employees'' are eligible for Leave Encashment. The Company has provided
Leave Encashment beneft on actuarial value basis.
iv. Employees'' State Insurance Scheme (ESIS):
Employees'' State Insurance Scheme (ESIS) is the defned contribution
scheme offered by the Company. The contribution to this scheme is
charged to the proft and loss account of the year in which contribution
to such scheme becomes due.
7. Inventories:
Stock of food and beverages and operating supplies are carried at cost
computed on a weighted average basis or Net Realizable Value, whichever
is lower.
8. Research and Development:
The Company does not have a separate Research and Development
department and has not incurred any expenditure on Research and
Development.
9. Taxation:
Deferred tax resulting from timing differences between book profts and
taxable profts is accounted for using the tax rates that have been
enacted or substantially enacted by the Balance Sheet date to the
extent such differences are reversible in subsequent period. Deferred
Tax assets are recognized only if there is reasonable certainty that
they will be realized and are reviewed for the appropriateness of their
carrying values at each Balance Sheet date.
10. Earnings per Share:
The Company reports basic earnings per share in accordance with
Accounting Standard 20 on ''Earnings per Share''. Basic earning per share
is computed as dividing the net proft or loss for the period by the
weighted average number of Equity shares outstanding during the period.
Mar 31, 2012
1. Basis of Preparation of Financial Statements:
a. The Company follows Mercantile System of Accounting and generally
recognizes Income and Expenditure on accrual basis except in case of
significant uncertainties.
b. The Financial Statements are prepared on historical cost convention
in accordance with the applicable Accounting Standards and the
provision of the Companies Act, 1956.
c. Estimates and Assumptions used in the preparation of the financial
statements are based upon Management's evaluation of the relevant facts
and circumstances as of the date of the Financial Statements, which may
differ from the actual results at a subsequent date.
2. Revenue Recognition:
1. Revenue from Hotel activity is recognized on rendering of services
net of Taxes and billing to the customer.
2. Income from derivatives comprises profit/loss on equity derivative
instruments.
Profit/Loss on equity derivative transactions is accounted for as
explained below:
a. Initial and additional margin paid over and above initial margin,
for entering into contracts for Equity Index/Stock Futures and or
equity Index/stock options which are released on final
settlement/squaring-up of underlying contracts are disclosed under
Current Assets, Loans and advances. "Mark-to-market margin-Equity
Index/Stock Futures" representing the amounts paid in respect of mark
to market margin is disclosed under Loans and Advances and amount
received is shown under current liabilities.
b. "Equity Index/Stock Option Premium Account" represents premium
paid or received for buying or selling the options, respectively.
c. On final settlement or squaring up of contracts for equity index /
stock futures, the realized profit or loss after adjusting the
unrealized loss already accounted, if any, is recognized in the Profit
and Loss Account. On settlement or squaring up of equity index / stock
options before expiry, the premium prevailing in "Equity Index/Stock
Option Premium Account" on that date is recognized in the Profit and
Loss Account. When more than one contract in respect of the relevant
series of equity index / stock futures or equity index / stock options
contract to which the squared-up contract pertains is outstanding at
the time of the squaring-up of the contract, the contract price of the
contract so squared-up is determined using the weighted average cost
method for calculating the profit/loss on squaring-up. As at the
balance sheet date, the mark to market on all hedged transactions
comprising of Securities and Equity.
Derivatives positions are determined on a Portfolio basis with net
unrealized losses being recognized in the Profit and Loss Account.
Unrealized gains (on portfolio basis) are not recognized in the Profit
and Loss Account on grounds of prudence as enunciated in Accounting
Standard - 1, Disclosure of Accounting Policies.
3. Fixed Assets:
Fixed assets are stated at cost less accumulated depreciation. The
Company capitalizes all direct costs relating to the acquisition and
installation of fixed assets. Interest on borrowed funds, if any, used
to finance the acquisition of fixed assets, is capitalized up to the
date the assets are ready for commercial use. Under-utilised assets are
recorded at estimated realizable value.
4. Method of Depreciation:
The Company provides depreciation on all its assets on the Straight
Line method at the rates and in the manner specified in Schedule XIV of
the Companies Act, 1956, proportionate from the date they are put to
use.
5. Investments:
Long term investments including interests in incorporated jointly
controlled entities, are carried at cost, after providing for any
diminution in value, if such diminution is of permanent nature. Current
investments are carried at lower of cost or market value. The
determination of carrying amount of such investments is done on the
basis of specific identification.
6. Retirements Benefits:
i. Gratuity:
The Company provides for gratuity, a defined retirement benefit plan
covering eligible employees. The gratuity plan provides for a lump sum
payment to employees at retirement, death, incapacitation or
termination of the employment based on the respective employee's salary
and the tenure of the employment. Liabilities with regard to gratuity
plan are determined based on actuarial valuation carried out by
independent actuary as at the Balance Sheet date.
Actuarial gains and losses are recognized in full in the Profit and
Loss account for the year in which they occur. (Refer note 27 B (11)
below)
ii. Provident Fund:
The eligible employees of the Company are entitled to receive the
benefits of Provident fund, a defined contribution plan, in which both
employees and the Company make monthly contributions at a specified
percentage of the covered employee's salary (currently at 12% of the
basic salary). The contributions as specified under the law are paid to
the Regional Provident Fund Commissioner by the Company.
iii. Leave Encashment:
Employees' are eligible for Leave Encashment. The Company has provided
Leave Encashment benefit on actuarial value basis.
iv. Employees' State Insurance Scheme (ESIS):
Employees' State Insurance Scheme (ESIS) is the defined contribution
scheme offered by the Company. The contribution to this scheme is
charged to the profit and loss account of the year in which
contribution to such scheme becomes due.
7. Inventories:
Stock of food and beverages and operating supplies are carried at cost
computed on a weighted average basis or Net Realizable Value, whichever
is lower.
8. Research and Development:
The Company does not have a separate Research and Development
department and has not incurred any expenditure on Research and
Development.
9. Taxation:
Deferred tax resulting from timing differences between book profits and
taxable profits is accounted for using the tax rates that have been
enacted or substantially enacted by the Balance Sheet date to the
extent such differences are reversible in subsequent period. Deferred
Tax assets are recognized only if there is reasonable certainty that
they will be realized and are reviewed for the appropriateness of their
carrying values at each Balance Sheet date.
10. Earnings per Share:
The Company reports basic earnings per share in accordance with
Accounting Standard 20 on ÃEarnings per Share'. Basic earning per
share is computed as dividing the net profit or loss for the period by
the weighted average number of Equity shares outstanding during the
period.
Mar 31, 2011
1. Basis of Preparation of Financial Statements:
a. The Company follows Mercantile System of Accounting and generally
recognizes Income and Expenditure on accrual basis except in case of
signifcant uncertainties.
b. The Financial Statements are prepared on historical cost convention
in accordance with the applicable Accounting Standards and the
provision of the Companies Act, 1956.
c. Estimates and Assumptions used in the preparation of the financial
statements are based upon Management's evaluation of the relevant facts
and circumstances as of the date of the Financial Statements, which may
differ from the actual results at a subsequent date.
2. Revenue Recognition:
Revenue from Hotel activity is recognized on rendering of services and
billing to the customer.
3. Fixed Assets:
Fixed assets are stated at cost less accumulated depreciation. The
Company capitalizes all direct costs relating to the acquisition and
installation of fixed assets. Interest on borrowed funds, if any, used
to finance the acquisition of fixed assets, is capitalized up to the date
the assets are ready for commercial use. Under-utilised assets are
recorded at estimated realizable value.
4. Method of Depreciation:
The Company provides depreciation on all its assets on the Straight
Line method at the rates and in the manner specifed in Schedule XIV of
the Companies Act, 1956, proportionate from the date they are put to
use.
5. Investments:
Long term investments including interests in incorporated jointly
controlled entities, are carried at cost, after providing for any
diminution in value, if such diminution is of permanent nature. Current
investments are carried at lower of cost or market value. The
determination of carrying amount of such investments is done on the
basis of specifc identifcation.
6. Retirements Benefits:
i. Gratuity:
The Company provides for gratuity, a defned retirement benefit plan
covering eligible employees. The gratuity plan provides for a lump sum
payment to employees at retirement, death, incapacitation or
termination of the employment based on the respective employee's salary
and the tenure of the employment. Liabilities with regard to gratuity
plan are determined based on actuarial valuation carried out by
independent actuary as at the Balance Sheet date.
Actuarial gains and losses are recognized in full in the profit and Loss
account for the year in which they occur. (Refer note 12 (a) above)
ii. Provident Fund:
The eligible employees of the Company are entitled to receive the
benefits of Provident fund, a defned contribution plan, in which both
employees and the Company make monthly contributions at a specifed
percentage of the covered employee's salary (currently at 12% of the
basic salary). The contributions as specifed under the law are paid to
the Regional Provident Fund Commissioner by the Company.
iii. Leave Encashment:
Employees' are eligible for Leave Encashment. The Company has provided
Leave Encashment benefit on actuarial value basis.
iv. Employees' State Insurance Scheme (ESIS):
Employees' State Insurance Scheme (ESIS) is the defned contribution
scheme offered by the Company. The contributions to this scheme is
charged to the profit and loss account of the year in which contribution
to such scheme becomes due.
7. Inventories:
Stock of food and beverages and operating supplies are carried at cost
computed on a weighted average basis or Net Realizable Value, whichever
is lower.
8. Research and Development:
The Company does not have a separate Research and Development
department and has not incurred any expenditure on Research and
Development.
9. Taxation:
Deferred tax resulting from timing differences between book profits and
taxable profits is accounted for using the tax rates that have been
enacted or substantially enacted by the Balance Sheet date to the
extent such differences are reversible in subsequent period. Deferred
Ta x assets are recognized only if there is reasonable certainty that
they will be realized and are reviewed for the appropriateness of their
carrying values at each Balance Sheet date.
10. Earnings Per Share:
The Company reports basic earnings per share in accordance with
Accounting Standard 20 on 'Earnings per Share'. Basic earning per
share is computed as dividing the net profit or loss for the period by
the weighted average number of Equity shares outstanding during the
period.
Mar 31, 2010
A. System of Accounting
The Company follows Mercantile System of Accounting and generally
recognizes Income and Expenditure on accrual basis except in case of
signifcant uncertainties.
The Financial Statements are prepared on historical cost convention in
accordance with the applicable Accounting Standards and the provision
of the Companies Act, 1956.
Estimates and Assumptions used in the preparation of the fnancial
statements are based upon Managements evaluation of the relevant facts
and circumstances as of the date of the Financial Statements, which may
differ from the actual results at a subsequent date.
b. Revenue Recognition
Revenue from Hotel activity is recognized on rendering of services and
billing to the customer.
c. Fixed Assets:
Fixed assets are stated at cost less accumulated depreciation. The
Company capitalizes all direct costs relating to the acquisition and
installation of fxed assets. Interest on borrowed funds, if any, used
to fnance the acquisition of fxed assets, is capitalized up to the date
the assets are ready for commercial use. Under-utilised assets are
recorded at estimated realizable value.
d. Method of Depreciation:
The Company provides depreciation on all its assets on the Straight
Line method at the rates and in the manner specifed in Schedule XIV of
the Companies Act, 1956, proportionate from the date they are put to
use.
e. Investments:
Long term investments including interests in incorporated jointly
controlled entities, are carried at cost, after providing for any
diminution in value, if such diminution is of permanent nature. Current
investments are carried at lower of cost or market value. The
determination of carrying amount of such investments is done on the
basis of specifc identifcation.
f. Retirements Benefts:
1. Gratuity:
The Company provides for gratuity, a defned retirement beneft plan
covering eligible employees. The gratuity plan provides for a lump sum
payment to employees at retirement, death, incapacitation or
termination of the employment based on the respective employees salary
and the tenure of the employment. Liabilities with regard to gratuity
plan are determined based on actuarial valuation carried out by
independent actuary as at the Balance Sheet date.
Actuarial gains and losses are recognized in full in the proft and Loss
account for the year in which they occur. (Refer note 14 (a) above)
2. Provident Fund:
The eligible employees of the Company are entitled to receive the
benefts of Provident fund, a defned contribution plan, in which both
employees and the Company make monthly contributions at a specifed
percentage of the covered employees salary (currently at 12% of the
basic salary). The contributions as specifed under the law are paid to
the Regional Provident Fund Commissioner by the Company.
3. Leave Encashment:
Employees are eligible for Leave Encashment. The Company has provided
Leave Encashment beneft on actuarial value basis.
4. Employees State Insurance Scheme (ESIS):
Employees State Insurance Scheme (ESIS) is the defned contribution
scheme offered by the Company. The contributions to this scheme is
charged to the proft and loss account of the year in which contribution
to such schemes becomes due.
g. Inventories:
Stock of food and beverages and operating supplies are carried at cost
computed on a weighted average basis or Net Realizable Value, whichever
is lower.
h. Research and Development:
The Company does not have a separate Research and Development
department and has not incurred any expenditure on Research and
Development.
i. Taxation:
Deferred tax resulting from timing differences between book profts and
taxable profts is accounted for using the tax rates that have been
enacted or substantially enacted by the Balance Sheet date to the
extent such differences are reversible in subsequent period. Deferred
Tax assets are recognized only if there is reasonable certainty that
they will be realized and are reviewed for the appropriateness of their
carrying values at each Balance Sheet date.
j. Earnings Per Share:
The Company reports basic earnings per share in accordance with
Accounting Standard 20 on ÃEarnings per Share. Basic earning per
share is computed as dividing the net proft or loss for the period by
the weighted average number of Equity shares outstanding during the
period.
Mar 31, 2000
1. BASIS OF ACCOUNTING
The accounts have been prepared on the basis of Historical costs.
2. SALES
Sales comprise of sale of room, food & beverage and allied services
relating to Hotel stay and Miscellaneous Income and sale of material.
3. FIXED ASSETS
Fixed Assets are valued at cost less depreciation. In respect of
borrowed capital used for construction of fixed assets, interest during
the period of construction capi- talised as per Accounting Standard No.
10 (AS! 0) on accounting for fixed assets issued by the institute of
chartered accountants of India.
4. INVENTORIES
Stock of foods and beverages and operating supplies are carried at
cost.
5. TREATMENT OF EXPENDITURE DURING CONSTRUCTION
At the end of the year there is capital work in progress to be
capitalised in respect of Capsule Lift of Rs. 11,91,286.00, Building
Rs. 1,26,00,760.64, Plant & Machinary Rs. 56,01,106.00 & Furniture &
Fixture Rs. 33,05,117.00, are capitalised during year.
6. METHOD OF DEPRECIATION
The depreciation has been provided as per Schedulr XIV of the companies
Act, 1956, on straight line method.
7. INVESTMENTS
All investments are valued at cost of acquisition.
8. RESEARCH & DEVELOPMENT
The Company does not have a Seperate Research & Development department
and has not incurred any expenditure on Research & Development.
9. ACCRUAL SYSTEMS OF ACCOUNTING
Accural system of accounting is adopted in respect of:
(1) Interest on Bank loan, Term Loan from Financial Institutions except
as mentioned in report.
(2) Income & Expenses.
10. GRATUITY
Proviion for gratuity liability to employees will be made on the basis
of eqatorial valuation.