| 1. The accounts of the company have been prepared on going concern
basis. In the opinion of Board of Directors of the Company, the current
assets including loans and advances and debtors of the company have a
value on realisation at least equal to the amount at which they are
stated.
2. The Balances of Trade Receivables and Trade Payables and Loans &
Advances are subject to confirmations and reconciliation, if any.
3. Related Party Disclosures as required by Accounting Standard - 18 is
given in Annexure "A" to this Notes.
4. Deferred Revenue Expenditure
During the financial year ended March 31,2012 the Company had incurred
certain expenses amounting to Rs. 76,22,358/- for which management was
of the view that these expenses are providing future economic benefit
and accordingly these expenses have not been charged to the Profit and
Loss Account and are being amortised over a period of 10 years .
Accordingly , during the year, the Company has amortised 1/10th of the
expenses amounting to Rs. 762,236 /- and debited the same to the
Statement of Profit and Loss (Refer Note No. 23).
As on March 31,2015 the unamortised portion of these expenses amouting
to Rs. 53,35,651/- have been carried as "Deferred revenue expenditure"
(Refer Note 12 & Note 17) .
5. Preoperative Expenses
During the financial year ended March 31,2011 the Company had incurred
certain expenses amounting to Rs. 9,52,127/- for which management was
of the view that these expenses are providing future economic benefit
and accordingly these expenses have not been charged to the Profit and
Loss Account and has been amortised over a period of 5 years .
During the year, as per the accounting policy followed consistently,
the Company has amortised 1/5th of the expenses amounting to Rs.
2,71,216 /- (Refer Note No. 23) and debited the same to the Statement
of Profit and Loss of the current year. As on March 31,2015 unamortised
portion of these expenses amounting to Rs. 1,38,481/- have been carried
as "Pre-operative expenses" (Refer Note 12 & Note 17).
6. Contingent liabilities not provided for:
Compounding fees under sections 276C and 277 of the Income Tax Act ,
1961 - amount unascertainable
7. Segment Reporting
In accordance with the requirements of Accounting Standard 17 "Segment
Reporting", the Company's business consists of one reportable business
segment i.e. "Sale of Vacation Ownership", hence no separate
disclosures pertaining to attributable Revenues, Profits, Assets,
Liabilities, Capital Employed are given.
8. Details of Loans given, Investments made and gurarantee given
pursuant to clause 32 of the Equity Listing Agreement and section
186(4) of the Companies Act, 2013, are given in Annexure "B" to the
notes
9. Figures of the previous year have been regrouped, reclassified
and/or rearranged wherever considered necessary to conform to the
layout of the current year.
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