A. NOTESONACCOUNTS
1. Refundable Membership Fees
The Company has received Rs. 6,69,65,000/- (Rs. 1,53,52,005/- after Ind AS effect)towards Refundable Membership Fees as on the date of the Balance Sheet and the same are shown under Non- Current Liability as Refundable Membership Fees.
2. Contingent Liabilities and Commitments (to the extent not provided for)
A. Contingent Liabilities:
i. Real estate stock-in-trade (Swastik Textiles Division) of Rs.3,754,229/- (as at 31st March, 2018, Rs.3,754,229/-) has been valued at cost of land including the accretion to its value on change of its character from’capital assets’to ‘trading assets’ plus development expenses incurred. The plots and area of these real estate stocks in trade (land) is as under:
ii. Confirmation letters have not been obtained from debtors, creditors, loans/ advances given and for certain loans/ deposits taken and hence their balances are subject to reconciliation and consequent adjustments, if any.
iii. Related party transactions
Related Parties (As identified by the Management In the Light of Requirements of AS 18)
Names of Related Parties:-
1. Key Management Personnel
(a)Rajesh Loya
(b)Jashwant Mehta
(c)Chetan Mehta
2. Other Related Parties
(a)Dhwani Mercantile Private Limited
(b) Juhu Resorts and Development Private Limited
(c) Neptune Resorts & Developers Private Limited
(d) Techno Broking & Financial Services Private Limited
(e) Techno Equity Broking Private Limited
(f) Juhu Tours & Travels Private Limited
iv. Earnings per share
Earnings per share (EPS) are calculated by dividing the profit attributable to equity shareholders by the weighted average number of equity shares outstanding during the year, as under:
v. Segment accounting as per AS 17.
The Company Operates only in a Single Segment & hence Segment Reporting as required under Accounting Standard -17 is not applicable.
vi. The deferred tax asset on account of Depreciation as per the Income Tax Act, and that as per the accounts - to Rs17,20,590/-. In view of the continuing losses no further Deferred Tax Asset is created in view of uncertainty about its ultimate recovery.
vii. Figures of the previous year have been regrouped to conform to current year grouping.
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