1. Term Loan from Bank is secured by Ist & excutive charge by way of
registered mortgage over Hotel land and Budding and exclusive charge on
all movabr fixed assets (both present and future) of company. Further,
it is also secured by way of personal guarantee from Director. Tire
aforesaid term loan is obtained at the interest rate of 12,5%p.a.
2. There are no Contingent Liabilities and Commitments occurred after
the balance sheet date which require disclosure in the books of
accounts.
3. There is no amount due and outstanding to "Investors Education and
Protection Fund. '
4. Income from operations represents invoiced value of goods sold and
services rendered exclusive of applicable taxes.
5. In the opinion of Board of Directors of the Company, all the current
assets, loans and advances have value on realisation of an amount at
least equal to the amount at which they are stated in the Balance Sheet.
Note:
6. Employer's contribution, Benefits Paid and Past Service Cost
includes payments made by the Company directly to its past employees.
7. The estimates of future salary increases, considered in actuarial
valuation, take account of inflation, seniority, promotion and other
relevant factors, such as supply and demand in the employment market.
8. The Company's Gratuity fund is managed by Life Insurance
Corporation of India. The plan assets under the fund are deposited
under approved securities.
9. The Company's only business being hoteliering and since all the
operations are undertaken in India only, segment-wise information is not
applicable under Accounting Standard 17- `Segmental Information'
(AS-17) specified under section 133 of the Companies Act, 2013, read
with Rule 7 of the Companies (Accounts) Rules, 2014.
10. Related Party Disclosure as required by Accounting Standard - 18
issued by the Institute of Chartered Accountants of India;
(A)Nature of Relationship
(I) Enterprises in which Key Management Personnel have significant
influence, with whom the company had transactions:
Kcsar Motels Pvt. Ltd.
Lords Inn Hotels and Developers Ltd.
Sai Ram Krupa Hotels Pvt. Ltd.
Lords Oriental Resorts Developers (Silvassa) Pvt. Ltd.
Lords Sai Ma Hotels Pvt. Ltd.
Lords Institute of Management Pvt. Ltd,
Sahyaadri Health Tourism Pvt. Ltd.
(II) Key Management Personnel:
Pushpendra Bansal Ramesh Bansal
11. The previous year's figures have been regrouped and/or rearranged
wherever necessary.
|