Notes to Accounts of Satya Miners and Transporters Ltd.

Mar 31, 2015

A) Segment Reporting

The Company is predominantly engaged in the business of financial activities and is a 'Single Segment' Company.

b) Related Party Disclosures

As per Accounting Standard 18 'Related Party Disclosures', the disclosure of transactions with related parties are given below:

(i) Names of the related parties and description of relationship

1 Key Management Personnel (KMP):

Shri Ananda Halder - Managing Director

(ii) Transactions with related parties during the period:

There was no Related party transaction during the year to see disclose in term of AS - 18.

c) Accounting for Taxes on Income

As availability of future taxable income is not certain, on consideration of prudence, provision for deferred tax assets is not made in term of AS 22,

d) Details of dues to micro and small enterprises as defined under the MSMED Act,2006

On the basis of information available with the Company under the Micro, Small and Medium Enterprises Development Act, 2006, there are no Enterprises to whom the Company owes dues which are outstanding at year end. This has been relied upon by the Auditors.

e) Particulars as required in terms of Paragraph 13 of Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 are given by way of an Annexure to the financial statements.

f)The management has assessed that there is no impairment of Fixed Assets requiring provision in the Accounts. Accordingly, there is no debit to the Statement of Profit & Loss for the impairment of Assets.

g)No provision has been made on account of gratuity as none of the employees have put in completed years of service as required by the payment of gratuity act.

h)No provision has been made on account of leave salary as there are no leave to the credit of employees as at the end of the year.

i) There are no outstanding contract of future & option which has not been squared off as on the date of Balance Sheet.

j) Previous year figures have been recast/reclassified wherever appropriate to confirm to current year's presentation as per revised Schedule III notified under the Companies Act, 2013.

k) All the figures in these notes are in 'Rs' except otherwise stated.

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Mar 31, 2014

1. Terms/rights attached to equity shares

The Company has only one class of equity shares having a par value of Rs. 10/- each. Each holder of equity shares is entitled to one vote per share. The dividend proposed by the Board of Directors, if any, is subject to the approval of the shareholders in the subsequent Annual General Meeting. In the event of liquidation of the Company, the holder of equity shares will be entitled to receive remaining assets of the Company after distributions of all preferential amount. The distributions will be in proportion to the number of equity shares held by the shareholders; and any other right as the Memorandum and Articles of Association of the Company may prescribe in relation to the aforesaid equity shares of the Company.

2. a) Segment Reporting

The Company is predominantly engaged in the business of financial activities and is a ''Single Segment'' Company.

b) Related Party Disclosures

As per Accounting Standard 18 ''Related Party Disclosures'', the disclosure of transactions with related parties are given below:

c) Details of dues to micro and small enterprises as defined under the MSMED Act,2006

On the basis of information available with the Company under the Micro, Small and Medium Enterprises Development Act, 2006, there are no Enterprises to whom the Company owes dues which are outstanding at year end. This has been relied upon by the Auditors.

d) There is a fall in the market value of investment to the extent of Rs 14,041,299 /- which the management perceives is not permanent in nature, hence no provision as against that is made in the books.

e) The management has assessed that there is no impairment of Fixed Assets requiring provision in the Accounts. Accordingly, there is no debit to the Statement of Profit & Loss for the impairment of Assets.

f) No provision has been made on account of gratuity as none of the employees have put in completed years of service as required by the payment of gratuity act.

g) No provision has been made on account of leave salary as there are no leave to the credit of employees as at the end of the year.

h) Provision for Outstanding Standard Assets have been made @ 0.25% as per RBI Circular No.: DNBPS.PD.CC.No. 207/03.02.002 /2010-11 dated: 17-01-2011

i) Particulars as required in terms of Paragraph 13 of Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 are given by way of an Annexure to the financial statements.

j) Previous year''s figures have been regrouped, rearranged and reclassified wherever necessary to make them comparable with those of the current year.

k) All the figures in these notes are in ''Rs'' except otherwise stated.

Notes :

1. As defined in Paragraph 2 (1) (xii) of the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank ) Directions, 1998.

2. Provisioning norms shall be applicable as prescribed in the Non - Banking Financial Companies Prudential Norms ( Reserve Bank ) Directions, 1998.

3. All Accounting Standards and Guidance Notes issued by ICAI are applicable including for valuation of investments and other assets as also assets acquired in satisfaction of debt. However, market value in respect of quoted investments and break up / fair value / NAV in respect of unquoted investment should be disclosed irrespective of whether they are classified as long term or current in column (5) above.

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Mar 31, 2013

A) Segment Reporting

The Company is predominantly engaged in the business of financial activities and is a ''Single Segment'' Company.

b) Related Party Disclosures

As per Accounting Standard 18 ''Related Party Disclosures'', the disclosure of transactions with related parties are given below:

(I) Names of the related parties and description of relationship

1 Key Management Personnel (KMP):

Shri Anurag Saraf (w.e.f 21/05/1990)

Shri Maloy Mohanta (w.e.f 10/02/2011)

Shri Bapi Das (w.e.f 14/05/2012)

Shri Amit Shaw (w.e.f 14/05/2012)

Shri Bhanu Singh (12/05/2011 to 14/05/2012)

Shri Ananda Halder (w.e.f 14/03/2013)

Shri M.C.Upreti (31/10/2009 to 14/03/2013)

Shri Virendra Kumar Agarwal (12/09/2011 to 14/03/2013)

c) Accounting for Taxes on Income As availability of future taxable income is not certain, on consideration of prudence, provision for deferred tax assets is not made in term of AS 22, Accounting for Taxes on Income.

d) Details of dues to micro and small enterprises as defined under the MSMED Act,2006 On the basis of information available with the Company under the Micro, Small and Medium Enterprises Development Act, 2006, there are no Enterprises to whom the Company owes dues which are outstanding at year end. This has been relied upon by the Auditors.

e) In lieu of acquisition of lands of the Company situated in Tehsil Sikandrabad, Distt. Bulandshahr, (U.P.), decree(s) for additional compensation was passed by the Hon''ble Court of Additional District Judge, Bulandshahr in January 2012 in favour of the Company. Based on such order the company has received additional compensation from the Govt. of Uttar Pradesh (U.P.), being full and final settlement of the said compensation.

f) Particulars as required in terms of Paragraph 13 of Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 are given by way of an Annexure to the financial statements.

g) Previous year''s figures have been audited by a firm of Chartered Accountants other than "M/s Maroti & Associates".

h) Previous year''s figures have been regrouped, rearranged and reclassified wherever necessary to make them comparable with those of the current year.

i) All the figures in these notes are in ''Rs'' except otherwise stated.

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Mar 31, 2012

A) Segment Reporting

The Company is predominantly engaged in the business of financial activities and is a ''Single Segment'' Company.

b) Related Party Disclosures

As per Accounting Standard 18 ‘Related Party Disclosures’, the disclosure of transactions with related parties are given below:

(i) Names of the related parties and description of relationship 1 Key Management Personnel (KMP):

Shri Anurag Saraf

Shri Bhanu Singh (w.e.f. 12/05/2011)

Shri H.B.Belwal (upto 29/07/2011)

Shri M.C.Upreti

Shri Maloy Mohanta

Shri Manoj Kumar Pandit (12/05/2011 to 29/07/2011)

Shri Virendra Kumar Agarwal (w.e.f 12/09/2011)

c) Accounting for Taxes on Income

As availability of future taxable income is not certain, on consideration of prudence, provision for deferred tax assets is not made in term of AS 22, Accounting for Taxes on Income.

d) Details of dues to micro and small enterprises as defined under the MSMED Act,2006

On the basis of information available with the Company under the Micro, Small and Medium Enterprises Development Act, 2006, there are no Enterprises to whom the Company owes dues which are outstanding at year end. This has been relied upon by the Auditors.

e) In lieu of acquisition of lands of the Company situated in Tehsil Sikandrabad, Distt. Bulandshahr, (U.P.) few years back, decree(s) for additional compensation was passed by the Hon’ble Court of Additional District Judge, Bulandshahr in January 2012 in favour of the Company. However, pending receipt of additional compensation from the Govt. of Uttar Pradesh (U.P.), the same has not been recognized in accounts as a prudent accounting practice.

f) Particulars as required in terms of Paragraph 13 of Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 are given by way of an Annexure to the financial statements.

g) Previous year figures have been recast/reclassified wherever appropriate to confirm to current year''s presentation as per revised Schedule VI notified under the Companies Act, 1956.

h) All the figures in these notes are in ''Rs'' except otherwise stated.

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Mar 31, 2011

1 Previous year figures have been re- grouped / re- arranged wherever necessary.

2. Special Reserve has been created out of profit after tax as per the provisions of Section 45-IC of the Reserve Bank of India Act,1934.

3. In the opinion of the Management the diminution in the market value on investment ( if any) is temporary in nature and hence no provision is made in the books.

4. The activity of the company is comprised of investment and financing centered in single geographical location. Hence segment wise reporting as required by the Accounting Standard -17 issued by the Institute of Chartered Accountants of India has not been made.

5. There are no outstanding dues payable to small scale industrial undertaking as per information available with the Company.

6. Provision for Income Tax has been made as per the relevant provision of Income Tax Act, 1961. There being no deferred tax liability no provision for such liability has been made in the accounts. Deferred tax assets in of carried forward capital loss has not been provided considering the uncertainty in realization of capital gains in future.

7. Related Party Disclosure as per Accounting Standard - 18 (with whom transactions made during the year)

01. Key Management Personnel : Shri R.H. Dalmia.

02. Relatives :- Smt. Padma Dalmia

03. Enterprises over which key management personnel is able to exercise significant influence : Dapel Investments Pvt. Ltd. & Hari Machines Ltd.

04. Transactions with Parties referred to above :

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Mar 31, 2010

1 Previous year figures have been re- grouped / re- arranged wherever necessary.

2. Special Reserve has been created out of profit after tax as per the provisions of Section 45-IC of the Reserve Bank of India Act,1934.

3. In the opinion of the Management the diminution in the market value on investment ( if any) is temporary in nature and hence no provision is made in the books.

4. The activity of the company is comprised of investment and financing centered in single geographical location. Hence segment wise reporting as required by the Accounting Standard -17 issued by the Institute of Chartered Accountants of India has not been made.

5. There are no outstanding dues payable to small scale industrial undertaking as per information available with the Company.

6. Provision for Income Tax has been made as per the relevant provision of Income Tax Act, 1961. There being no deferred tax liability no provision for such liability has been made in the accounts. Deferred tax assets in of carried forward capital loss has not been provided considering the uncertainty in realization of capital gains in future.

7. Related Party Disclosure as per Accounting Standard - 18 (with whom transactions made during the year)

i). Key Management Personnel : Shri R.H. Dalmia.

ii). Relatives :- None

iii). Enterprises over which key management personnel is able to exercise significant influence :

Swank Services Ltd., Dapel Investments Pvt. Ltd. ,OCL India Ltd..& Hari Machines Ltd.

iv). Transactions with Parties referred to above :

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Mar 31, 2009

1. Previous year figures have been re- grouped / re- arranged wherever necessary.

2. Special Reserve has been created out of profit after tax as per the provisions of Section 45- IC of the Reserve Bank of India Act, 1934.

3. In the opinion of the Management the diminution in the market value on investment (if any) is temporary in nature and hence no provision is made in the books.

4. The activity of the company is comprised of investment and financing centered in single geographical location. Hence segment wjse reporting as required by the Accounting Standard -17 issued by the Institute of Chartered Accountants of India has not been made.

5. There are no outstanding dues payable to small scale industrial undertaking as per information available with the Company.

6. Provision for Income Tax has been made as per the relevant provision of Income Tax Act, 1961. There being no deferred tax liability no provision for such liability has been made in the accounts. Deferred tax assets in of carried forward capital loss has not been provided considering the uncertainty in realization of capital gains in future.

7. Related Party Disclosure as per Accounting Standard -18 (with whom transactions made during the year)

01. Key Management Personnel: Shri R.H. Dalmia.

02. Relatives:- None

03. Enterprises over which key management personnel is able to exercise significant influence: Swank Services Ltd., Dapel Investments Pvt. Ltd. ,OCL India Ltd., OCL Iron & Steel Ltd.