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NOTES TO ACCOUNTS

Jindal Hotels Ltd.

You can view the entire text of Notes to accounts of the company for the latest year
Market Cap. (₹) 25.68 Cr. P/BV 1.02 Book Value (₹) 41.86
52 Week High/Low (₹) 88/32 FV/ML 10/1 P/E(X) 27.99
Bookclosure 12/09/2017 EPS (₹) 1.53 Div Yield (%) 0.00
Year End :2015-03 
1. Terms/ right attached to equity shares

The Company has only one class of equity shares of par value of Rs.10 per share.Each holder of equity shares is entitled to one vote per share.

In the event of liquidation of the Company,the holders of equity shares will be entitled to receive remaining assets of the Company,after distribution of all preferential amounts.The distribution will be in proportion to the number of equity shares held by the members.

The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the members in the ensuing Annual General Meeting.

During the year ended 31st March 2015,the amount per share recognized as dividend distribution to equity members was Rs.0.80 (31st March 2014: Rs.0.80)

Cash Credit from B.O.M. (P.Y. S.B.I.) is secured by Exclusive Charge by way of Registered Mortgage over company's lease hold land bearing City Survey No.202 to 208, free hold land bearing City Survey no 193 & 194, building constructed thereon,hypothecation of movable assets acquired /to be acquired out of Cash Credit limit,hypothecation of entire movable assets of the Company and personal guarantee of two Directors

2. Amount of Income Tax has been provided as per provision of Section 115 JB of the Income Tax Act, 1961.

3. The Board of Directors are of the opinion that discounted net future generation from the Assets in use and shown in the schedule of fixed assets, is more than the carrying amount of fixed assets in Balance Sheet, as such, no provision for Impairment of Assets is required to be made in terms of the requirement of accounting standard (AS - 28) "Impairment of Assets" issued by the Institute of Chartered Accountants of India for the year ended 31.03.2015.

4. Segment Reporting

The Company operates in one reportable operating segment i.e. Hoteliering

5. The Investment made by the company is held in its own name

6. Contingent Liabilities & Commitments:

                                             2014-15         2013-14
a Estimated amount of contracts 1,02,464 42,820 (Net of advances) remaining to be executed on capital account not provided for

b  Counter Bank Guarantee furnished            1,122           1,660
for supply of Natural Gas from
VMSS and also for availing benefit
under EPCG Scheme.
c  Claims against the Company,                   Nil             Nil
not acknowledged as debt.
7. Related Party disclosure under Accounting Standard 18.

The Company has no subsidiary or joint venture concern. The Company has identified all the related parties' transactions during the year, as per details given below:

During the year, there were no amounts written off or written back from such parties.

Key Management Party                    Related Parties

1. Piyush D. Shah                       Nilesh D Shah
                                        Nilesh D Shah HUF
                                        Chanda P Shah
                                        Yamini N Jalan
                                        Piyush D. Shah HUF
                                        Shantaben D Shah
                                        Munish D. Shah HUF
                                        Satvik P. Agrawal
                                        Prachi S. Agrawal
                                        Shagun Kunal Mehra
                                        Sunita M Agarwal
                                        Munish D Shah
                                        Munira N Agrawal
                                        Hardik Agrawal
                                        Jamunadevi Educational Trust
                                        Global Gourmet Pvt Ltd.
                                        (rs. in '000)
8. Pursuant to the enactment of Companies Act 2013, the company has applied the estimated useful lives as specified in Schedule II, as disclosed in Accounting Policy on Depreciation and Amortisation. Accordingly the un amortised carrying value is being depreciated / amortised over the revised / remaining useful lives. The written down value of Fixed Assets whose lives have expired as at 1st April 2014 have been adjusted, net of tax, in the opening balance of Surplus in Profit and Loss Account, amounting to Rs.1,38,37,117/-. Change in use full life of the Fixed Assets has increased the amount of depreciation charge for the year under review by Rs.85,36,611/ - on Fixed assets installed up to 31.03.2014,as compared to the provision of erstwhile Schedule XIV of the Companies act,1956

9. During the year under review, there is a change in method of charging to the revenue, the cost of various operating inventories from " Purchase Cost Basis" to "Actual Consumption Basis". Due to this change, there is a Net Decrease in expense of Operating Inventories by Rs. 347,694/- in the Statement of Profit & Loss of the year under review.

10. The Company has defended a Civil Suit filed by M/s. Phonographic Performance Ltd. (PPL) in the Court of Law. PPL claims to have Copy Rights of public performance of sound recordings of about 250 Music Companies in India. All those who use these sound recording in public place or commercial establishment, in any form or technology, they must obtain prior license from PPL at certain amount of fees. The company has not obtained such license from them, hence, PPL has filed a Civil Suit. The company claims that it is not required to avail license from PPL on certain legal grounds. Board is of opinion that Company has valid defense in this case and has a fair chance to succeed in the said Civil Suit. In any case , the said license fee if required to be paid will be not more than INR 1,00,000/-.

11. In the opinion of the Board, the assets other than Fixed Assets have value on realization in the Ordinary course of Business at least equal to the amount at which they are stated in Balance Sheet. The adequate provision of all known liabilities have been made in the accounts.

12. Previous year figure have been reclassified, regrouped, wherever necessary and recast to make comparable with those of year under review.

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