Swarnsarita Jewels India Ltd. இன் கணக்கு குறிப்புகள்

Mar 31, 2016

1. Deferred Tax:-

The Company has accounted for Deferred Taxation in respect of timing differences in accordance with the requirement of Accounting Standard 22 “Accounting for Taxes on Income”. The Deferred Tax liability comprises the followings:

2. Segment Reporting:-

The Company has been operating significantly in a single segment of Jewellery

3. As per Micro, Small and Medium Enterprises Development Act 2006, the company is required to identify the Micro, Small and Medium enterprises and pay them interest on amount overdue beyond the specified year irrespective of the terms agreed with them. However, management is of the opinion that in view of supplier profile of the company, the liability in any case will be insignificant. The management has rolled out letters for the confirmation from the parties for confirming their registration under the said Act.

4. The balances of creditors and debtors appearing in the balance sheet are subject to balance confirmations/reconciliation at the year end. The management is in the process of obtaining the respective confirmations in the due course. However, the reconciliation of these balances is not expected to result in any material adjustments in the stated balances.

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Mar 31, 2015

1. Terms / Right Attached to Equity Shares

In the event of liquidation of the company, the holder of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be in the number of equity shares held by the shareholders at the time of liquidation

The Cash Credit facility and Gold Loan from the Union Bank of India is secured by hypothecation of Stock and book debts upto 90 days , collaterally secured by the equitable mortgage of property of directors, personal guarantee given by the directors of the company and Corporate gurantee of Swarnsarita Realty Private Limited and Swarnsarita Jewellers Private Limited.

The Cash Credit facility and Gold Loan from the State Bank of India is secured by first hypothecation charge over entire current assets of the Company, present and future on pari pasu basis with other working capital landers, collaterally secured by the equitable mortgage of property of directors, personal guarantee given by the directors of the company and Corporate gurantee of Swarnsarita Realty Private Limited and Swarnsarita Jewellers Private Limited and Sankalp Erectors and Builders Private Limited.

Particulars As at 31st March, As at 31st March, 2015 2014

Contingent Liabilities Nil Nil

2. Segment Reporting:-

The Company has been operating significantly in a single segment of Jewellery.

3. There are no delays in payments to Micro, Small and Medium Enterprises as required to be disclosed under "The Micro, Small and Medium Enterprises Development Act, 2006."

4. During the year the company has not been made any new investment.

5. Related Party Disclosure as per AS 18 (As identified by the Management):

Nature of Relationship Name of Party

Where control Exists Swarnsarita Realty Private Limited (100% Holdings) Swarnsarita Gold & Diamonds (45% Holdings)

Key Management Personnel

Whole Time Directors Mahendra M. Chordia

Sunil Jain

Rajendra M. Chordia (Resigned w.e.f. 18.03.2015) Asha M. Chordia (Appointed w.e.f. 14.11.2014) Vishal R. Nolkha

Independent Directors Ashok Surana

Sunderlal L. Bothra

Relatives of Key Management Personnel (Where Sunny Chordia transactions have been made)

Related parties to Key Swarnsarita Jewellers Private Limited Management Personnel (Where transactions have been made)

6. Outstanding Balance of Debtors, Creditors and Others are subject to confirmation.

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Mar 31, 2014

Note No. 1

SHAREHOLDER''S FUND EQUITY SHARE CAPITAL

d) Terms / Right Attached to Equity Shares

In the event of liquidation of the Company, the holder of equity shares will be entitled to receive any of the remaining assets of the Company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be in the number of equity shares held by the shareholders at the time of liquidation

e) Details of Shareholders holding more than 5% share in the Company

Equity Shares Fully Paid at Rs. 10/- each

1. Previous year figures have been regrouped, reworked, rearranged and reclassified whenever necessary.

As At 31st As At 31st March, 2014 March, 2013

2. Contingent Liabilities NIL NIL

3. Estimated amount of contract remaining to be executed on Capital Account and not provided for the year NIL NIL

4. Amount Outstanding to SSI Units NIL NIL

5. Payments to Auditors:-

(i) Audit Fees 300000 300000

(ii) Tax Audit Fees 90000 100000

(iii) certification and Taxation Matters 10000 12500

(iv) Service Tax 49440 50985

449440 463485

5. Deferred Tax:-

The Company has accounted for Deferred Taxation in respect of timing differences in accordance with the requirement of Accounting Standard 22 "Accounting for Taxes on Income". The Deferred Tax liability comprises the followings :

Deferred Tax Assets Current Year Previous Year

On account of fixed assets 226182 189273

6. Segment Reporting:-

The Company has been operating significantly in a single segment of Jewellery.

7. There are no delays in payments to Micro, Small and Medium Enterprises as required to be disclosed under "The Micro, Small and Medium Enterprises Development Act, 2006."

9. During the year the company has not been made any investment.

9. Related Party Disclosure as per AS 18 (As identified by the Management) :

(i) Related Party Relationship

(a) Where Control Existed 1) Swarnsarita Realty Pvt Ltd

(b) Key Management Personnel 1) Shri Mahendra M. Chordia

2) Shri Sunil Jain

3) Shri Rajendra M. Chordia

(c) Relatives of Key Management Personnel 1) Swarnsarita Jewellers (Whom Transaction have taken place) 2) Asha M. Chordia

(d) Other Related Parties 1) Swarnsarita Jewellers Private Limited

(Whom Transaction have taken place) 2) Sunny Chordia

10. Outstanding Balance of Debtors, Creditors and Others are subject to confirmation.

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Mar 31, 2013

1. Previous year figures have been regrouped, reworked, rearranged and reclassified whenever necessary.

As At 31st As At 31st March, 2013 March, 2012

2. Contingent Liabilities NIL NIL

3. Deferred Tax:-

The Company has accounted for Deferred Taxation in respect of timing differences in accordance with the requirement of Accounting Standard 22 "Accounting for Taxes on Income". The. Deferred Tax liability comprises the followings :

4. Segment Reporting:-

The Company has been operating significantly in a single segment of Jewellery.

5. There are no delays in payments to Micro, Small and Medium Enterprises as required to be disclosed under "The Micro, Small and Medium Enterprises Development Act, 2006."

6. During the year the company has made investment in wholly owned subsidiary "Swarnsarita Reality Pvt Ltd."

7. Related Party Disclosure as per AS 18 (As identified by the Management) : (i) Related Party Relationship

(a) Where Control Existed 1 )Swarnsarita Realty Pvt Ltd

(b) Key Management Personnel 1) Shri Mahendara M. Chordia

2) Shri Sunil Jain

3) Shri Vallbhbhai N. Patel

(c) Relatives of Key Management Personnel 1) Swarnsarita Jewellers (Whom Transaction have taken place) 2) Asha M. Chordia

(d) Other Related Parties 1) Swarnsarita Jewellers Private Limited (Whom Transaction have taken place)

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Mar 31, 2012

A) Terms / Right Attached to Equity Shares

In the event of liquidation of the company, the holder of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be in the number of equity shares held by the shareholders at the time of liquidation

1. Previous year figures have been regrouped, reworked, rearranged and reclassified whenever necessary.

As At 31st As At 31st March, 2012 March, 2011

2. Contingent Liabilities NIL NIL

3. Estimated amount of contract remaining to be executed on Capital Account and not provided for the year NIL NIL

4. Amount Outstanding to SSI Units NIL NIL

5. Deferred Tax:-

The Company has accounted for Deferred Taxation in respect of timing differences in accordance with the requirement of Accounting Standard 22 "Accounting for Taxes on Income". The Deferred Tax liability comprises the followings :

6. Segment Reporting:-

The Company has been operating significantly in a single segment of Diamond & Jewellery.

7. There are no delays in payments to Micro, Small and Medium Enterprises as required to be disclosed under " The Micro, Small and Medium Enterprises Development Act, 2006."

8. Earning Per Share:-

The Earning Per Share has been computed by dividing the profit after tax by number of Equity Shares outstanding.

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Mar 31, 2011

1. There are no Dues to Micro & Small Enterprises as at 31.03.2010. This information as required to be disclosed under the Micro, Small & Medium Enterprises Development Act, 2006 has been determined on the basis of information available with the company.

2 The Figures of previous year have been reworked/regrouped/recasted, wherever necessary to conform to current year's classification.

3 The figures have been rounded off to the nearest rupee.

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Mar 31, 2010

1. i) Impairment of assets

The carrying amount of asets is reviewed at each balance sheet date for any indication of impairment based on internal external factors. An impairment loss is recognised wherever the carrying amount of an asset exceeds its recoverable amount and is charged to the Profit & Loss account in the year of identification as an impaired asset. The impairment loss recognised in prior accounting periods is reversed if there is a change in the estimate of recoverable amount.

2. Disclosures as required by Accounting Standard AS-18 "Related Parties Disclosure" issued by The Institute of Chartered Accountants of India are as follows : i) Key Management Personnel

Mr. Vallabh N. Patel

Mr. Savji D. Patel

Mr. Ramesh M. Patel