Southern Fuel Ltd. के अकाउंट के लिये नोट

Mar 31, 2014

B.SUMMARY OF NOTES ON ACCOUNTS RELATED PARTY TRANSACTIONS

1. Disclosure of related party transaction as per AS-18 "Related Party Disclosures" of The Institute of Chartered Accountants of India:

A) Related Party Relationships:-

a) Subsidiary NIL

b) Associates Shivamani & Company (P) Ltd

Sivamani Energy Source Pvt Ltd

c) Key Management Personnel Sri. CV. Kaleeswaran

Sri. K. Vijayanand

2. Land has been allotted to the company on lease —cum sale basis by the state Industries Promotion Corporation of Tamil Nadu Ltd., (SIPCOT). The company has taken possession of the land but will get ownership of it only after expiry of lease period of 99 years at which time SIPCOT will execute the sale Deed.

3. The company has not given any guarantee on behalf of the directors or other officers and no amount are due either at the end or were due at any time during the currency of the year from the directors or other officers.

4. Estimated amount of contract remaining to be executed on capital account is NIL.

5. CONTINGENT LIABILITY

(a) Sales Tax

Tamilnadu General Sales Tax of Rs. 56.09 Lakhs is under dispute with Tamilnadu Government towards waiver of sales tax for the period 1998-1999 and 1999-2000. No provision has been made in books since the matter is pending before the Commissioner (CT),

Government of Tamil Nadu.

The assessment under TNGST and CST for the year 2002-2003 has been reopened by the Commercial Tax department and tax of Rs.9,58,762 and Rs.2,16,852 under TNGST and CST respectively demanded. An appeal is preferred against this order .The company has paid half of the disputed tax liability and has executed Bank Guarantee for balance portion of tax liability.

(b) Income Tax

The company has filed an appeal against the order for the Assessment Year 2003-2004 disputing the additions made and proceedings initiated in respect of the assessment and the matter is pending before the Commissioner of Appeals,

c )SEBI

The Company has received show cause notice from Securities and Exchange Board of India for violation of the provisions of regulation 8(3) of the SEBI (substantial acquisition of shares and take overs) regulations 1997 for the years 1998-2011. In response to show cause notice the company has submitted a detailed letter. In the opinion of the management, the proceeding when ultimately concluded will not have a material effect on the results of operations or financial position of the company

6. As the company is engaged in only one segment of manufacture of low ash metallurgical coke segment information is not given.

7 .In the opinion of the management all current Assets including Stock in trade, Sundry Debtors, Loans and Advances would realize the value stated in the normal course of Business.

8. Earning in Foreign currency NIL

Expenses in Foreign Currency NIL

9. Amounts due to small scale industrial undertakings/ suppliers under the MSME Act, 2006

There are no Micro, Small and Medium-scale industries to which the Company owes dues, which were outstanding for more than 45 days as on the balance sheet date. The amount due to Micro, Small and Medium-scale industries has been determined to the extent such parties has been identified on the basis of information available with the company. This has been relied upon by Auditors.

10. The Comparative figure for the previous year are regrouped/reclassified, wherever necessary, to correspond with the current year's classification/disclosure

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Mar 31, 2013

B.SUMMARY OF NOTES ON ACCOUNTS RELATED PARTY TRANSACTIONS

1. Disclosure of related party transaction as per AS-18 "Related Party Disclosures" of The Institute of Chartered Accountants of India:

A) Related Party Relationships:-

a) Subsidiary NIL

b) Associates Shivamani & Company (P) Ltd

Sivamani Energy Source Pvt Ltd

c) Key Management Personnel Sri. CV. Kaleeswaran

Sri. K. Vijayanand

2. Land has been allotted to the company on lease -cum sale basis by the state Industries Promotion Corporation of Tamil Nadu Ltd., (SIPCOT). The company has taken possession of the land but will get ownership of it only after expiry of lease period of 99 years at which time SIPCOT will execute the sale Deed.

3. The company has not given any guarantee on behalf of the directors or other officers and no amount are due either at the end or were due at any time during the currency of the year from the directors or other officers.

4. Estimated amount of contract remaining to be executed on capital account is NIL.

5. CONTINGENT LIABILITY

(a) Sales Tax

Tamilnadu General Sales Tax of Rs. 56.09 Lakhs is under dispute with Tamilnadu Government towards waiver of sales tax for the period 1998-1999 and 1999-2000. No provision has been made in books since the matter is pending before the Commissioner (CT), Government of Tamil Nadu.

The assessment under TNGST and CST for the year 2002-2003 has been reopened by the Commercial Tax department and tax of Rs.9,58,762 and Rs.2,16,852 under TNGST and CST respectively demanded. An appeal is preferred against this order .The company has paid half of the disputed tax liability and has executed Bank Guarantee for balance portion of tax liability.

(b) Income Tax

The company has filed an appeal against the order for the Assessment Year 2003- 2004 disputing the additions made and proceedings initiated in respect of the assessment and the matter is pending before the Commissioner of Appeals.

6. As the company is engaged in only one segment of manufacture of low ash metallurgical coke segment information is not given.

7 .In the opinion of the management all current Assets including Stock in trade, Sundry Debtors, Loans and Advances would realize the value stated in the normal course of Business.

8. Earning in Foreign currency NIL

Expenses in Foreign Currency NIL

9. EARNINGS PER SHARE (EPS) - The numerator and denominator used to calculated Basic and Diluted Earnings per share:

lO.Amounts due to small scale industrial undertakings/ suppliers under the MSME Act, 2006

There are no Micro, Small and Medium-scale industries to which the Company owes dues, which were outstanding for more than 45 days as on the balance sheet date. The amount due to Micro, Small and Medium-scale industries has been determined to the extent such parties has been identified on the basis of information available with the company. This has been relied upon by Auditors.

11. The Comparative figure for the previous year are regrouped/reclassified, wherever necessary, to correspond with the current year's classification/disclosure

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Mar 31, 2012

1. Disclosure of related party transaction as per AS-18 "Related Party Disclosures" of The Institute of Chartered Accountants of India:

A) Related Party Relationships:-

a) Subsidiary NIL

b) Associates Shivamani & Company (P) Ltd

Sivamani Energy Source Pvt Ltd

c) Key Management Personnel Sri. CV. Kaleeswaran

Sri. K. Vijayanandh

2. Land has been allotted to the company on lease -cum sale basis by the state Industries Promotion Corporation of Tamil Nadu Ltd., (SIPCOT). The company has taken possession of the land but will get ownership of it only after expiry of lease period of 99 years at which time SIPCOT will execute the sale Deed.

3. The company has not given any guarantee on behalf of the directors or other officers and no amount are due either at the end or were due at any time during the currency of the year from the directors or other officers.

4. Estimated amount of contract remaining to be executed on capital account is NIL.

5. BANK FACILITY

Working capital facility (cash credit) availed from Axis Bank are secured by the hypothecation of all current assets (both present and future) and also secured by a EM Charge on the Factory Land & Building of the company. The working capital facilities from banks are also secured by personal guarantees of Sri. C.V. Kaleeswaran and Sri. K. Vijay Anand Directors of the Company. The loan carried an interest of 12.75%.

6. CONTINGENT LIABILITY

(a) Sales Tax

Tamilnadu General Sales Tax of Rs. 56.09 Lakhs is under dispute with Tamilnadu Government towards waiver of sales tax for the period 1998-1999 and 1999-2000. No provision has been made in books since the matter is pending before the Commissioner (CT), Government of Tamil Nadu.

The assessment under TNGST and CST for the year 2002-2003 has been reopened by the Commercial Tax department and tax of Rs.9,58,762 and Rs.2,16,852 under TNGST and CST respectively demanded. An appeal is preferred against this order The company has paid half of the disputed tax liability and has executed Bank Guarentee for balance portion of tax liability.

(b) Income Tax

The company has filed an appeal against the order for the Assessment Year 2003-2004 disputing the additions made and proceedings initiated in respect of the assessment and the matter is pending before the Commissioner of Appeals.

7. As the company is engaged in only one segment of manufacture of low ash metallurgical coke segment information is not given.

8 .In the opinion of the management all current Assets including Stock in trade, Sundry Debtors, Loans and Advances would realize the value stated in the normal course of Business.

9. Earning in Foreign currency NIL

Expenses in Foreign Currency NIL

10.Amounts due to small scale industrial undertakings/ suppliers under the MSME Act, 2006 There are no Micro, Small and Medium-scale industries to which the Company owes dues, which were outstanding for more than 45 days as on the balance sheet date. The amount due to Micro, Small and Medium-scale industries has been determined to the extent such parties has been identified on the basis of information available with the company. This has been relied upon by Auditors.

11. The Comparative figure for the previous year are regrouped/reclassified to conform to revised Schedule IV and figures haven rounded off to the nearest rupee..

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Mar 31, 2011

RELATED PARTY TRANSACTIONS

1. Disclosure of related party transactions as per AS-18 "Related Party Disclosure" of The Institute of Chartered Accounts of India:

A) Related Party Relationships:-

a) Subsidiary Nil

B) Associates Shivamani & Company Private Limited

Shivamani Energy Source Private Limited

C) Key Management Sri.C.V Kalleeswaran Personnel Sri.K.Vijay Anand

2.Land has been alloted to the company on lease -cum sale basis by the state Industries Promotion Corporation of Tamil Nadu Ltd., (SIPCOT).The company has taken possession of the land but will get ownership of it only after expiry of lease period of 99 years at which time SIPCOT will execute the sale Deed.

3. The company has not given any graduate on behalf of the directors or others and no amount are due either at the end or were due at any time during the currency of the year from the directors or other offers.

4.Estimated amount of contract remaining to be executed on capital account is NIL.

5.BANK FACILITY

Working Capital facility (cash Credit) availed from Axis Bank are secured by the hypothecation of all current assets(both present and future )also secured by a EM Charge on the Factory Land & Building of the Company.The working capital facilities from banks are also secured by personal guarantees of C.v. Kaleeswaram and Sri.K.Vijay Anand Directors of the Company

6. DISPUTED TAX

The assessment under TNGST and CST for the year 2002-2003 has been reopened by the Commercial Tax department and tax of Rs.9,58,762 and Rs.2,16,852 under TNGST and CST respectively demanded.An appeal is preferred against this order.The company has paid half of the disputed tax liability and has executed Bank Guarentees for balance portion of tax liability.

7.CONTINGENT LIABILITY

(a) Sales Tax

Tamilnadu General Sales Tax of RS .56.09 Lakhs is under dispute with Tamilnadu Governament towards waiver of sales tax for the period 1998-1999 and 1999-2000.No provision has been in books since the matter is pending before the Commissioner (CT) of Tamil nadu governament

(b) Income Tax

The company has filed an appleal against the order for the Assessment year 2003-2004 disputing the additional made and proceedings initiated in respect of the assessment and the matter is pending before the commissioner of Appeals.

8.As the company is engaged in only one segment of manufucture of low ash metallurgical coke segment information is not given.

9.In the opionion of the management all current Assests including Stock in trade,Sundry Debtors,Loans and advances would realize the value stated in the normal course of Business.

10.There are no Micro,small and Medium-scale industries to which the company owes dues,which were outstanding for more than 45 days as on the balance sheet date.The amount due to micro,small and Medium-Scale industries has been determined to the extent such parties has been indentified on the basis of information available with the company.This has been relied upon by Auditors.

11.The Comparative figure for the previous year has been regrouped wherever neccessary to conform to the classification for the year and figures have been rounded off to the nearest rupee.

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Mar 31, 2010

Ralated party Transactions

1. Land has been allotted to the company on lease -cum sale basis by the state Industries Promotion Corporation of Tamil Nadu Ltd., (SIPCOT). The company has taken possession of the land but will get ownership of it only after expiry of lease period of 99 years at which time SIPCOT will execute the sale Deed.

2. The company has not given any guarantee on behalf of the directors or other officers and no amount are due either at the end or were due at any time during the currency of the year from the directors or other officers.

3. Estimated amount of contract remaining to be executed on capital account is NIL.

4. DISPUTED TAX

The assement under TNGST and CST for the year 2002-2003 has been reopened by the Commercial Tax department and tax of Rs. 9,58,762 and Rs. 2,16,852 under TNGST and CST respectively are demanded. An appeal is preferred against this order. The Company has paid half of the disputed tax liability and has executed Bank Guarantee for balance portion of tax liability.

5. DEFERRED TAX LIABILITY

The Deferred Tax Asset for the current year is Rs. 3.86 Lakhs and the Deferred Tax Liability relating to earlier years is Rs. 40.47 Lakhs and the net amount of Rs. 36.61 is recognized in the accounts.

6. CONTINGENT LIABILITY

(a) Sales Tax

Tamilnadu General Sales Tax of Rs. 56.09 Lakhs is under dispute with Tamilnadu Government towards waiver of sales tax for the period 1998-1999 and 1999-2000. No provision has been made in books since the matter is pending before the Commissioner (CT), Government of Tamil Nadu.

(b) Income Tax

The company has filed an appeal against the order for the Assessment Year 2003-2004 disputing the additions made and proceedings initiated in respect of the assessment and the matter is pending before the Commissioner of Appeals.

7. As the company is engaged in only one segment of manufacture of low ash metallurgical coke segment information is not given.

8. In the opinion of the management all current Assets including Stock in trade, Sundry Debtors, Loans and Advances would realize the value stated in the normal course of Business.

9. There are no Micro, Small and Medium-scale industries to which the Company owes dues, which were outstanding for more than 45 days as on the balance sheet date. The amount due to Micro, Small and Medium-scale industries has been determined to the extent such parties has been identified on the basis of information available with the company. This has been relied upon by Auditors.

10. The Comparative figure for the previous year has been regrouped wherever necessary to conform to the classification for the year and figures have been rounded off to the nearest rupee.