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NOTES TO ACCOUNTS

Velan Hotels Ltd.

You can view the entire text of Notes to accounts of the company for the latest year
Market Cap. (₹) 10.77 Cr. P/BV 0.57 Book Value (₹) 5.87
52 Week High/Low (₹) 7/3 FV/ML 10/1 P/E(X) 0.00
Bookclosure 28/09/2018 EPS (₹) 0.00 Div Yield (%) 0.00
Year End :2015-03 
1.ADDITIONAL NOTES

a. Estimated amount of the contracts remaining to be executed on capital account and not provided for : Not ascertainable.(Previous Year - Not Ascertainable)

b. The Company has not given any guarantee.

c. Contingent Liabilities not provided for in the books of accounts Rs.Nil. (Previous year Rs. Nil)

d. Expenditure on employees who are in receipt of remuneration of not less than Rs. 60,00,000/- per annum (previous year Rs. 60,00,000/- per annum) when employed through out the year or Rs. 5,00,000/- per month (previous year Rs. 5,00,000/- per month) when employed for part of the year is Nil (previous year Rs. Nil.)

e. Previous year figures have been regrouped and/or reclassified wherever necessary,

f. The figures have been rounded off to the nearest Rupee.

g. Balances in Sundry Debtors, Creditors and Loans & Advances are subject to confirmation and reconciliation and are stated at the book balance thereof.

h. In the opinion of the Management, the Current Assets, Loans & Advances will fetch the amount as stated, if realized in the ordinary course of its business.

2. TERM LOANS :

1. Allahabad Bank , Andhra Bank & Canara Bank.

Secured by way of Hypothecation of entire fixed assets of the Company both existing and future, Equitable Mortgage of hotel properties at Tirupur and Coonoor and Hypothecation of entire current assets of the Company. The loan is also personally guaranteed by the Managing Director & Executive Director of the Company.

2. Axis Bank Limited

Secured by way of hypothecation of the Vehicle of the Company.

3. The Company has called for details of applicability from trade parties from the provisions of Micro,Small and Medium Enterprises Development Act,2006, However no reply has been received from any of the parties, In view of the above no disclosure is made under Micro, Small and Medium Enterprises Development Act,2006.

. Related Party Transactions.

The following are the transactions with related parties in terms of Accounting Standard 18 Issued by the ICAI.

Key Managerial Personnel                     Interested Concerns
Sri.E.V.Muthukumararamalingam - Managing m/s. Shree Vallee Enterprises Director Private Limited Sri.M.R.Gautham - Executive Director Sri.B.A.Madhusudan - Whole-Time Director

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