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Sita Enterprises

BSE: 512589|ISIN: INE579D01019|SECTOR: Finance - General
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« Mar 14
Notes to Accounts Year End : Mar '15
 i. Previous period''s figures have been regrouped/rearranged wherever
 necessary. Headings, sub-headings and information as per Schedule VI
 and Accounting Standards which are not applicable to the company are
 not stated in Balance Sheet and Statement of Profit and Loss. Figures
 in brackets are for previous year unless otherwise specified.
 
 ii.  Tax deducted at source on interest income - Rs. 1,61,845/- (Rs.
 1,48,012/-) and on dividend Nil. Interest income includes an amount of
 Rs.4,83,400/- (Rs. 1,58,014/-) received during the year from a venture
 capital fund.
 
 iii. Basic and Diluted earning per share has been calculated by
 dividing the net profit after tax i.e. Rs.3.99 Lacs for the year by the
 weighted average number of equity shares outstanding during the year
 i.e. 30 Lacs shares.
 
 iv.  The provision for deferred tax assets/liabilities as on 31-3-15 is
 Nil. As a measure of prudence, deferred tax assets for MAT credit for
 future tax liabilities has not been taken into account. Provision for
 bad and doubtful debts and for depreciation in investments - Nil. Gross
 non-performing assets - Nil. Net non-performing assets - Nil, Assets
 acquired in satisfaction of debts - Nil. Amount due to Micro, Small &
 Medium Enterprises as per MSMED Act, 2006 as on 31-03-2015 - Nil. The
 Company has not accepted any deposits from the public. As per
 guidelines issued by Reserve Bank of India an amount of Rs. 2.5 lacs
 has been provided as Contingent Provision against Standard Assets and
 has been shown as Contingent Provision in the balance sheet.
 
 v.  The Company is in the business of investment and finance and all
 its activities revolve around this business. As such, there are no
 separate reportable Segments. As provided in Accounting Standard 3 the
 Dividend income has been included in Operating Activities in Cash Flow
 Statement. In the Statement of Profit and Loss Dividend Income has been
 shown under Other Income as per requirement of Revised Schedule VI.
 
 vi.  The Company has only one class of shares referred to as equity
 shares having a par value ofRs.10 entitling the holder to one vote per
 share. There was no change in the number of shares outstanding at the
 beginning and at the end of the reporting period. Share holders holding
 more than 5% shares in the company and number of shares held: Bombay
 Mercantile & Leasing Co Ltd-1025398, Abhinandan Textiles & Traders Pvt.
 Ltd.-375000 and Ashok Tulsyan (HUF) 600000.
 
 vii. Meeting fees paid to Independent Director - Mr. S. Rathi
 Rs.5000/-.
 
 viii. Market value of all quoted investments-Rs.10,29,276/-
 (Rs.9,72,941/-). Provision for diminution in value of investments- Nil.
 Investments in Properties are partly paid to the extent of amount due
 and payable as per the terms of purchase and progress of construction
 and are shown as other non current investments as per requirement of
 Revised Schedule VI.
 
 ix.  Miscellaneous expenses grouped under the head of Other Expenses
 include Rs.11,236/- (Rs.11,236/-) for audit fees, Rs. 3,371/-
 (Rs.3,000) for internal audit, Rs.11,000/- (Rs. 7,303/-)for Secretarial
 Auditors fees and Rs.2,085/- (Rs.1,053/-) for Securities Transaction
 Tax.
 
 x.  Contingent liabilities and commitments (to the extent not provided
 for) - Uncalled liability on commitments for Investments in Properties
 under construction or development Rs.116 Lacs.
 
 
Source : Dion Global Solutions Limited
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