| Note 1 Corporate information
The Company is engaged in Hotel Business.
Note 2 Other non-current assets - Company does not maintain any other
non current asset, other than those reported in aforesaid notes.
Note 3 Current investments - Company has not made any Current
Investment during the current or previous reporting period.
Note 4 Non-current investments - Company has not made any Non Current
Investment during the current or previous reporting period.
Note 5
Contingent Liability in respect of dividend on Rs.200/- Lakhs 12.5%
Optionally Cumulative Redeemable Preference Shares is Rs.25,00,000/-
(Previous Year Rs.25,00,000/-). Further there may be nominal liability
on account of interest, penalty for delay in depositing VAT, Service
tax. Tax Deducted at Source, Luxury Tax and Employees Provident Fund.
Note 6
In view of the unabsorbed depreciation and carry forward losses of the
past years and in absence of convincing evidence regarding availability
of sufficient future taxable income Deferred Tax Asset has been taken
at nil and it shall be re-assessed at each balance sheet date.
Note 7
Depreciation has been provided in the accounts on Written down value
method at rates prescribed in Schedule XIV of the Companies Act, 1956.
Note 8
In the absence of all information as to whether any of the suppliers
are Small Scale and Ancillary Industrial Undertaking, provision for
interest payable on delayed payment, if any, to such suppliers is not
made. Interest will be paid as and when the claim is made. No such
claim has been received by the Company during the year or subsequent to
the year end. Staggered payments to few suppliers is as per the agreed
terms with the parties.
Note 9
Balances of Debtors and Creditors and advances are as per books of
account. Confirmation of balances has been sought and replies are
awaited in some cases
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