Estimated amount of contracts remaining to be executed on capital
account and not provided for Rs. 5025,000/- (Previous year Rs.
a. The Company has filed appeals with various Income-tax authorities
against demands raised by Departments for Asst. Year 1992-93 to 1994-95
and 1996-97 to 2000-2001. The Company disputes such demands raised by
the department and expects substantial relief in the appeals. In the
opinion of the Directors provision made for taxation is adequate and
their is no additional provision required on this account.
b. Liability for guarantees given to financial institutions for
borrowings of sister companies Rs. 775 lakh.
3. In the opinion of the Board of Directors, Current Assets and Loans &
Advances are approximately of the value stated if realised in the
ordinary course of business.
4. The Company has not paid any remuneration to its Directors.
5. Investments - Unquoted Fully paid equity shares of Rs.10/- each of
Motel Pali Hill Ltd., a group Company 200 Nos. of Rs.56,35,000.
6. Sundry creditors does not include any amount due to small scale
industrial undertakings where outstanding exceeds Rs. One lakh and
outstanding for more than 30 days.
7. In view of the variety m nature of activities and its turnover
including sale of food and beverages, it is not practicable to give
quantitative details of turnover and consumption.
8. Deferred Revenue expenditure of the agro division is being written
off over a period of 10 years against the income of agro division. As
stated elsewhere the agro division is being liquidated and this
expenditure will be adjusted suitably at appropriate time.
9. Capital work in progress Rs.2995 lakh includes work done by its
lessee companies is take over by the company against the bank loan of
the related companies transferred by the Banker to the Companys
Account. As these projects have not been completed these assets are not
capitalised and no depreciation has been provided. Certain expenditure
which could not be directly aligned to the capital creation activity
have been written off to revenue.
10. Previous Years Figures have been regrouped/rearranged wherever
11. No other additional information pursuant to para-graph 3,4-C and
4-D of part u of Schedule VI of the Companies Act, 1956 is applicable
to the Company.
12. Additional information pursuant to Schedule VI of the Companies
Act, 1956 is disclosed to the extent applicable to the Company.
As per our report even date
For and on behalf of the board
Dedhia Talak Devji SUMAN MOTELS LIMITED
Plate : Mumbai Chrtered Accountant S. M. Hussain - chairman
Dated : 25-06-2003, S.M. Khandhar - Managing
P.M. Khandhar - Director