| 1. Corporate Information:
Le Waterina Resorts & Hotels Limited is a Public Limited Company, which
was incorporated on 28th July 1987 in the name of Harringtons
Construction and Industries Limited and later on name change. The
Shares of the Company are listed on Bombay Stock Exchange. The Company
is primarily engaged in the Hotel Business through its "Lewaterina
Resorts and Spa" a three star Resort situated in Sriperambudur and
"Lewaterina, the Boutique Hotel" a two star Hotel situated in Chennai.
2. CONTINGENT LIABILITIES
A. i. On account of demand by Income Tax Department
of wealth Tax for two years : Rs. 49,941 (Rs.49,941)
ii On account of demand for additional charges by Hire Purchase Finance
Company and disputed by the company : Rs. 9,207 (Rs.9,207)
B. The company has not accepted the demand by a secured creditor to
the extend of Rs. 9207(9,207/-) towards various charges and the same is
under dispute for which no provision has been made in the books of
accounts.
The company has filed wealth tax returns with no liability towards
wealth tax for assessment year 1990-91 to 1992-93 for Rs.
49,941(49,941). The same has been contested by the company before
appellate authorities.
3. OTHERS
4. Confirmation of balances has not been received in respect of current
liabilities and provisions current assets and loans and advances.
5. No employee had received remuneration in excess of the amount
specified in the rules U/s 217(2A) of the Companies Act, 1956
6. Figures have been rounded off to the nearest Rupee.
7. Figures of the previous years have been regrouped wherever
necessary to confirm to the current year presentation.
8. Figures in the brackets represent previous year figures.
9. There are no Micro and Small Enterprises, to whom the Company owes
dues, which are outstanding for more than 45 days as at March 31,2015.
This is information as required to be disclosed under "The Micro, Small
and Medium Enterprises Development Act, 2006" (the act) has been
determined to the extent such parties have been identified on the basis
of information available with the company.
10. Secured Loan :
Term loan and Overdaft
11. Credit Facility from Vijaya Bank is charged on the Fixed and
Moveable Assets of the Company excepting car which is financed by HDFC
Bank. Further the Managing Director Sanjay Jalan has guaranteed and
offered his properties as collateral to the above said loans.
12. Term loan from HDFC Bank is charged on the car purchased out of the
finance.
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