Mar 31, 2015
1.ADDITIONAL NOTES
a. Estimated amount of the contracts remaining to be executed on
capital account and not provided for : Not ascertainable.(Previous Year
- Not Ascertainable)
b. The Company has not given any guarantee.
c. Contingent Liabilities not provided for in the books of accounts
Rs.Nil. (Previous year Rs. Nil)
d. Expenditure on employees who are in receipt of remuneration of not
less than Rs. 60,00,000/- per annum (previous year Rs. 60,00,000/- per
annum) when employed through out the year or Rs. 5,00,000/- per month
(previous year Rs. 5,00,000/- per month) when employed for part of the
year is Nil (previous year Rs. Nil.)
e. Previous year figures have been regrouped and/or reclassified
wherever necessary,
f. The figures have been rounded off to the nearest Rupee.
g. Balances in Sundry Debtors, Creditors and Loans & Advances are
subject to confirmation and reconciliation and are stated at the book
balance thereof.
h. In the opinion of the Management, the Current Assets, Loans &
Advances will fetch the amount as stated, if realized in the ordinary
course of its business.
2. TERM LOANS :
1. Allahabad Bank , Andhra Bank & Canara Bank.
Secured by way of Hypothecation of entire fixed assets of the Company
both existing and future, Equitable Mortgage of hotel properties at
Tirupur and Coonoor and Hypothecation of entire current assets of the
Company. The loan is also personally guaranteed by the Managing
Director & Executive Director of the Company.
2. Axis Bank Limited
Secured by way of hypothecation of the Vehicle of the Company.
3. The Company has called for details of applicability from trade
parties from the provisions of Micro,Small and Medium Enterprises
Development Act,2006, However no reply has been received from any of
the parties, In view of the above no disclosure is made under Micro,
Small and Medium Enterprises Development Act,2006.
. Related Party Transactions.
The following are the transactions with related parties in terms of
Accounting Standard 18 Issued by the ICAI.
Key Managerial Personnel Interested Concerns
Sri.E.V.Muthukumararamalingam - Managing m/s. Shree Vallee Enterprises
Director Private Limited
Sri.M.R.Gautham - Executive Director
Sri.B.A.Madhusudan - Whole-Time Director
Mar 31, 2014
NOTE : 1
a. Estimated amount of the contracts remaining to be executed on
capital account and not provided for : Not ascertainable.(Previous Year
not ascertainable)
b. The company has not given any guarantee.
c. Contingent Liabilities not provided for in the books of accounts
Rs.Nil. (Previous year Rs. Nil)
d. Expenditure on employees who are in receipt of remuneration of not
less than Rs. 60,00,000/- per annum (previous year Rs. 60,00,000/- per
annum) when employed through out the year or Rs. 5,00,000/- per month
(previous year Rs. 5,00,000/- per month) when employed for part of the
year is nil (previous year Rs. Nil.)
e. Previous year figures have been regrouped and/or reclassified
wherever necessary,
f. The figures have been rounded off to the nearest Rupee.
g. Balances in Sundry Debtors, Creditors and Loans & Advances are
subject to confirmation and reconciliation and are stated at the book
balance thereof.
h. In the opinion of the Management, the Current Assets, Loans &
Advances will fetch the amount as stated, if realized in the ordinary
course of its business.
j. TERM LOANS :
2. Allahabad Bank , Andhra Bank ,Canara Bank & Axis Bank Limited :
Secured by way of Hypothecation of entire fixed assets of the Company
both existing and future, Equitable Mortgage of hotel properties at
Tirupur and Coonoor and Hypothecation of entire current assets of the
Company. The loan is also personally guaranteed by the Managing
Director & Executive Director of the company.
3. Axis Bank Limited :
Secured by way of hypothecation of the Vehicle of the Company.
a. The Company has called for details of applicability from trade
parties from the provisions of Micro,Small and Medium Enterprises
Development Act,2006, However no reply has been received from any of
the parties, In view of the above no disclosure is made under
Micro,Small and Medium Enterprises Development Act,2006.
b. During the year a sum of Rs.1275000 been provided in the books of
accounts towards income tax.
c. Earning per share :
d. Basic earnings per share are calculated by dividing the net profit
attributable to the share holders by the weighted average number of
ordinary shares outstanding during the year.
e. Disclosure as required by Accounting Standard 17 on Segment
Reporting issued by the Institute of Chartered Accountants of India
(ICAI) is furinished in a separate annexure.
Mar 31, 2013
A. Estimated amount of the contracts remaining to be executed on
capital account and not provided for : Not ascertainable.(Previous Year
- not ascertainable)
b. The Company has not given any guarantees.
c. Contingent Liabilities not provided for in the books of accounts
Rs.Nil. (Previous year Rs. Nil)
d. Expenditure on employees who are in receipt of remuneration of not
less than Rs. 60,00,000/- per annum (previous year Rs. 60,00,000/- per
annum) when employed throughout the year or Rs. 5,00,000/- per month
(previous year Rs. 5,00,000/- per month) when employed for part of the
year is Nil (previous year Rs. Nil.)
e. Previous year figures have been regrouped and/or reclassified
wherever necessary.
f. The figures have been rounded off to the nearest Rupee.
g. Balances in Sundry Debtors, Creditors and Loans & Advances are
subject to confirmation and reconciliation and are stated at the book
balance thereof.
h. In the opinion of the Management, the Current Assets, Loans &
Advances will fetch the amount as stated, if realized in the ordinary
course of its business.
i TERM LOANS :
1. Allahabad Bank and Andhra Bank :
Secured by way of Hypothecation of entire fixed assets of the Company -
both existing and future, Equitable Mortgage of hotel properties at
Tirupur and Coonoor and Hypothecation of entire current assets of the
Company. The loans are also personally guaranteed by the Managing
Director & Executive Director of the Company.
2. Sundaram Finance Limited
Secured by way hypothecation of Vehicle of the Company.
j. The Company has called for details of applicability from trade
parties from the provisions of Micro, Small and Medium Enterprises
Development Act, 2006. However, no reply has been received from any of
the parties. In view of the above, no disclosure is made under Micro,
Small and Medium Enterprises Development Act, 2006.
k. During the year, a sum of Rs.21,10,000/- has been provided in the
books of accounts towards Income Tax.
l. Earning per share :
a. Basic earnings per share are calculated by dividing the net profit
attributable to the share holders by the weighted average number of
ordinary shares outstanding during the year.
Mar 31, 2012
A. Estimated amount of the contracts remaining to be executed on
capital account and not provided for : Not ascertainable.(Previous Year
- not ascertainable)
b. The Company has not given any guarantees.
c. Contingent Liabilities not provided for in the books of accounts
Rs. Nil. (Previous year Rs. Nil)
d. Expenditure on employees who are in receipt of remuneration of not
less than Rs. 60,00,000/- per annum (previous year Rs. 60,00,000/- per
annum) when employed throughout the year or Rs. 5,00,000/- per month
(previous year Rs. 5,00,000/- per month) when employed for part of the
year is Nil (previous year Rs. Nil.)
e. Previous year figures have been regrouped and/or reclassified
wherever necessary, to conform to the requirement of revised Schedule
VI of the Companies Act, 1956.
f. The figures have been rounded off to the nearest thousands, except
otherwise stated.
g. Balances in Sundry Debtors, Creditors and Loans & Advances are
subject to confirmation and reconciliation and are stated at the book
balance thereof.
h. In the opinion of the Management, the Current Assets, Loans &
Advances will fetch the amount as stated, if realized in the ordinary
course of its business.
j. TERM LOANS :
1. Allahabad Bank and Andhra Bank :
Secured by way of Hypothecation of entire fixed assets of the Company -
both existing and future, Equitable Mortgage of hotel properties at
Tirupur and Coonoor and Hypothecation of entire current assets of the
Company. The loans are also personally guaranteed by the Managing
Director & Executive Director of the Company.
2. Sundaram Finance Limited
Secured by way hypothecation of Vehicle of the Company.
k. The Company has called for details of applicability from trade
parties from the provisions of Micro, Small and Medium Enterprises
Development Act, 2006. However, no reply has been received from any of
the parties. In view of the above, no disclosure is made under Micro,
Small and Medium Enterprises Development Act, 2006.
l. During the year, a sum of Rs. 31,30,000/- has been provided in the
books of accounts towards income tax.
m. Earnings per share :
a. Basic earnings per share are calculated by dividing the net profit
attributable to the share holders by the weighted average number of
ordinary shares outstanding during the year.
n. The Company is exclusively engaged in the business of Hotelering.
This, in context of Accounting Standard 17 on Segment Reporting issued
by The Institute of Chartered Accountants of India (ICAI) is considered
to constitute one single primary segment and accordingly no segment
information as required under Accounting Standard 17 is furnished.
o. Notes 1 to 29 form an integral part of the annual accounts.
p. Payments to Auditors included under "Capital Work in Progress" on
account of Certification work is Rs. 31545/-.
Mar 31, 2011
1. Estimated amount of the contracts remaining to be executed on
capital account and not provided for: Not ascertainable.(Previous Year
not ascertainable)
2. Contingent Liabilities not provided for in the books of accounts
Rs.Nil. (Previous year Rs. Nil)
3.a). Depreciation is provided under straight line method on Fixed
Assets on a pro-rata basis at the rates specified in Schedule XIV to
the Companies Act, 1956.
b). Depreciation on assets revalued is calculated on its revalued
figure on Straight Line Method at the rates specified in Schedule XIV
to the Companies Act, 1956.
4. Expenditure on employees who are in receipt of remuneration of not
less than Rs. 60,00,000/- per annum (previous year Rs. 24,00,000/- per
annum) when employed through out the year or Rs. 5,00,000/- per month
(previous year Rs. 2,00,000/- per month) when employed for part of the
year is nil (previous year Rs. Nil.)
5. Previous year figures have been regrouped and/or reclassified
wherever necessary.
6. The figures have been rounded off to the nearest rupee.
7. Balances in Sundry Debtors, Creditors and Loans & Advances are
subject to confirmation and reconciliation and are stated at the book
balance thereof.
8. In the opinion of the Management, the Current Assets, Loans &
Advances will fetch the amount as stated, if realized in the ordinary
course of its business.
9. i. Quantitative details of turnover, opening and closing stock,
purchase and consumption have not
been furnished, in view of general exemption u/s.211 vide Press Note
No:2/2011 dated 08.02.2011 issued by Ministry of Corporate Affairs,
Government of India.
10. TERM LOANS:
1. Allahabad Bank, Andra Bank, & Bank of Bahrain and Kuwait(upto the
date of Closure) Secured by way of Hypothecation of entire fixed assets
of the Company both existing and future, Equitable Mortgage of hotel
properties at Tirupurand Coonoorand Hypothecation of entire current
assets of the Company. The loan is also personally guaranteed by the
Chairman, Managing Director & Executive Director of the Company.
2. Sundaram Finance Limited
Secured byway hypothecation of Vehicle of the Company.
11. The Company has called for details from trade parties regarding
applicability of the provisions of Micro,Small and Medium Enterprises
Development Act,2006. However no reply has been received from any of
the parties. In view of the above, no disclosure is made regarding
liability under Micro,Small and Medium Enterprises DevelopmentAct,
2006.
12. Asum of Rs.5,94,000/- has been paid to Sri E.V.Muthukumara
Ramalingam,Managing Director of the Company as remuneration and a sum
of Rs.2,79,000/- has been paid to Sri. M.R. Gautham, Executive Director
of the Company as remuneration.
13. During the year a sum of Rs.37,00,000/- has been provided in the
books of accounts towards income tax.
14. Earning per share:
a. Basic earnings per share are calculated by dividing the net profit
attributable to the share holders by the weighted average number of
ordinary shares outstanding during the year.
15. The Company is exclusively engaged in the business of Hotelering.
This, in the context of Accounting Standard 17 on Segment Reporting
issued by The Institute of Chartered Accountants of India (ICAI) is
considered to constitute one single primary segment and accordingly no
segment information as required under Accounting Standard 17 is
furnished.
16. Schedules 1 to 24 form an integral part of annual accounts.
Mar 31, 2010
1. Estimated amount of the contracts remaining to be executed on
capital account and not provided for : Not ascertainable.(Previous Year
not ascertainable)
2. Contingent Liabilities not provided for in the books of accounts
Rs.Nil. (Previous year Rs. 150000)
3. a) Depreciation is provided under straight line method on Fixed
Assets on a pro-rata basis at the rates specified in Schedule XIV to the
Companies Act, 1956.
b) Depreciation on assets revalued is calculated on its revalued figure
on Straight Line Method at the rates specified in Schedule XIV to the
Companies Act, 1956.
4. Expenditure on employees who are in receipt of remuneration of not
less than Rs. 24,00,000/- per annum (previous year Rs. 24,00,000/- per
annum) when employed through out the year or Rs. 2,00,000/- per month
(previous year Rs. 2,00,000/- per month) when employed for part of the
year is nil (previous year Rs. Nil.)
5. Previous year figures have been regrouped and/or reclassified
wherever necessary.
6. The figures have been rounded off to the nearest rupee.
7. Balances in Sundry Debtors, Creditors and Loans & Advances are
subject to confirmation and reconciliation and are stated at the book
balance thereof.
8. In the opinion of the Management, the Current Assets, Loans &
Advances will fetch the amount as stated, if realized in the ordinary
course of its business.
9. Additional information pursuant to the paragraphs 3 & 4 of the Part
II of Schedule VI of the Companies, Act, 1956
i) In line with the order of Department of Company Affairs order (No.
46/165/2008-CL-III date 31.03.2009) under section 211 (4) of the
Companies Act, 1956, quantitative details of turnover, opening and
closing stock, purchase and consumption have not been furnished.
10.TERM LOANS :
1. State Bank of India & Bank of Bahrain and Kuwait, BSC.
Secured by way of Hypothecation of entire fixed assets of the Company
both existing and future, Equitable Mortgage of hotel properties at
Tirupur and Coonoor and Hypothecation of entire current assets of the
Company. The loan is also personally guaranteed by the Chairman,
Managing Director & Executive Director of the company.
2. Sundaram Finance Limited
Secured by way hypothecation of Vehicle of the Company.
11. WORKING CAPITAL LOANS
State Bank of India (Upto the date of Settlement)
Secured by way of Hypothecation of entire fixed assets of the Company
both existing and future, Equitable Mortgage of hotel properties at
Tirupur and Coonoor and Hypothecation of entire current assets of the
Company. The loan was also personally guaranteed by the Chairman,
Managing Director & Executive Director of the Company.
12. The Company is in the process of compiling relevant information
from its suppliers about their coverage under the Micro, Small and
Medium Enterprises Development Act,2006. Since the relevant information
is not readily available, no disclosures have been made in these
Financial Statements. However, in the considered view of the
management and as relied upon by the auditors, impact of interest, if
any that may be payable in accordance with the provisions of this Act
is not material.
13. A sum of Rs.5,70,000/- has been paid to Sri E.V.Muthukumara
Ramlingam, Managing Director of the company as remuneration and a sum
of Rs.2,67,000/- has been paid to Sri. M.R. Gautham, Executive Director
of the company as remuneration.
14. During the year a sum of Rs.29,80,000/- has been provided in the
books of accounts towards income tax after taking into consideration
the provisions of Section 115JB of the Income Tax Act.
15. Earning per share :
a. Basic earnings per share are calculated by dividing the net profit
attributable to the share holders by the weighted average number of
ordinary shares outstanding during the year.
16. The Company is exclusively engaged in the business of Hotelering.
This, in context of Accounting Standard 17 on Segment Reporting issued
by The Institute of Chartered Accountants of India (ICAI) is considered
to constitute one single primary segment and accordingly no segment
information as required under Accounting Standard 17 is furnished.
17. Payment of preclosure, processing and documentation charges
incurred for availing foreign currency term from M/s.Bank of Bahrain
and Kuwait, BSC and settling rupee term loan from M/s.State bank of
India is shown as exceptional item of Expenditure.
18. Schedules 1 to 24 form an integral part of annual accounts.