SENSEX NIFTY
Moneycontrol.com India | Notes to Account > Finance - Leasing & Hire Purchase > Notes to Account from Sundaram Finance - BSE: 590071, NSE: SUNDARMFIN
YOU ARE HERE > MONEYCONTROL > MARKETS > FINANCE - LEASING & HIRE PURCHASE > NOTES TO ACCOUNTS - Sundaram Finance
Sundaram Finance
BSE: 590071|NSE: SUNDARMFIN|ISIN: INE660A01013|SECTOR: Finance - Leasing & Hire Purchase
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
Dec 19, 16:30
1245.60
2.6 (0.21%)
VOLUME 6,569
LIVE
NSE
Dec 19, 16:30
1246.70
8.7 (0.7%)
VOLUME 47,339
« Mar 13
Notes to Accounts Year End : Mar '14
1.1 Segment Reporting
 
 Segment information is presented in the Consolidated Financial
 Statements in terms of the Accounting Standard 17 - Segment Reporting.
 
 1.2 The Company preferred an appeal against the demand raised by the
 Commissioner of Customs, Tuticorin, in respect of a lease transaction.
 The Customs Excise and Service Tax Appellate Tribunal (CESTAT) in its
 Order, remanded the appeal to the adjudicating Commissioner for
 Re quantifying the duty. The Commissioner of Customs, Tuticorin vide
 order dated 19.12.2012, re-quantified the duty at Rs. 43.79 lakhs. The
 company fled an appeal against the order and remitted the duty under
 protest.
 
 The Hon''ble High Court of Madras granted an interim stay against the
 collection of penalty of Rs. 10 lakhs imposed by CESTAT.
 
 The Special Director of Enforcement, New Delhi, imposed a penalty of Rs.
 10 lakhs on the Company. The Company has preferred an appeal against
 the penalty with the Appellate Tribunal for Foreign Exchange and
 obtained a stay after remitting Rs. 2.50 lakhs as directed by the
 Tribunal. Meanwhile the company has initiated arbitration proceedings
 against the Lessee and has received an award in its favour.
 
 2. Estimated amount of contracts remaining to be executed on capital
 account – Rs. 508.63 lakhs (net of advances of Rs. 346.56 lakhs)
 (31.03.2013 – Rs. 1949.34 lakhs, net of advances of Rs. 101.54 lakhs)
 
 Investment in Partly paid-up Equity shares Rs. 1098.90 lakhs (31.03.2013
 – Nil).
 
 3. There are no amounts due to Small Scale Industries in terms of
 The Micro, Small and Medium Enterprises Development Act, 2006.
 
 4. Contingent liabilities in respect of          (Rs. in lakhs)
 
                              31.03.2014     31.03.2013
 
 a) Liability –
 
    To Banks – on Cheques 
    discounted                  6,97.09       16,46.19
 
               on Letters 
               of Credit        7,57.91        3,94.67
 
 b) Claims against the 
 company not acknowledged 
 as debts:
 
 Hire Purchase/Lease 
 transactions                      –             31.07
 
 Service Tax                   64,84.63       61,04.70
 
 Others                        16,37.83       14,13.47
 
 5. Previous year''s figures have been regrouped /reclassified wherever
 necessary to conform to the current year''s presentation.
Source : Dion Global Solutions Limited
Quick Links for sundaramfinance
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.