2010-11 - Grasim

SAMR
AMRUDDHI SWASTIK
TRADING AND
INVESTMENTS LIMITED
Schedule ‘C’
Notes on Accounts
1. Significant Accounting Policies :
a) Revenues are accounted for on accrual basis. Dividend income
on investments is accounted for when the right to receive the
payment is established. Interest income is recognised on time
proportion basis.
b) Fixed Assets are stated at cost, less accumulated depreciation.
Cost comprises the purchase price and attributable cost of
bring the assets to its working conditions for its intended use.
c) Current investments are stated at lower of cost and fair value.
Long term investments are stated at cost after deducting
provision made, if any, for other than temporary diminution in
value.
d) Depreciation is charged on Written Down Value Method
applying rates as provided in Schedule XIV of the Companies
Act 1956.
2. Building includes Rs. 67486 Thousands being cost of 11,194 Equity
Shares (Face Value Rs 10 each) and 1,23,980 0% Debentures of a
Company, entitling the Company the right of exclusive occupation
and use of certain office premises.
3. Additional information required under Paragraphs 4C and 4D of Part
II of Schedule VI to the Companies Act, 1956:- Nil
4. As per Accounting Standard 18 issued by the Institute of Chartered
Accountants of India, the related parties are as under:
a) Holding Company - Grasim Industries Ltd.
b) Fellow subsidiaries:
1 UltraTech Cement Limited
2 Sun God Trading And Investments Limited
3 Grasim Bhiwani Textiles Ltd.
4 Samruddhi Cement Limited
5 Dakshin Cement Limited
6 UltraTech Cement Lanka Private Limited
7 Harish Cement Limited
8 UltraTech Cement Middle East Investment Limited
9 Star Cement Co LLC, Dubai, UAE
10 Star Cement Co LLC, RAK, UAE
11 Al Nakhla Crusher, LLC, Fujairah, UAE
12 Arabian Cement Industry LLC, Abu Dhabi, UAE
13 Arabian Gulf Cement Co WLL, Bahrain
14 Emirates Power Company Ltd., Bangladesh
15 Emirates Cement Bangladesh Ltd., Bangladesh
c) Details of Related Party Transactions: ` in Thousand
Sr Nature of Transac- Transac- Outstanding on Outstanding
No. transactions tions tions 31 st Mar’11 31 st Mar’10
during during Liability Asset Liability Asset
FY 11 FY 10
1 Rent for
Offices,
Garages Nil 923.52 Nil Nil Nil Nil
leased to
Grasim
Industries Ltd.
(Net of Service Tax)
2 Rent for Offices,
Garages 3,752.70 1,957.58 Nil Nil Nil Nil
leased to
UltraTech
Cement Ltd.
(Net of Service Tax)
3 Interest free
deposit received (692.64) 158.49 Nil Nil 692.64 Nil
from Grasim
Industries Ltd
as per Lease
Agreement
4 Interest free
deposit received 1,682.82 535.68 3,111.30 Nil 1,428.48 Nil
from UltraTech
Cement Ltd.
as per Lease
Agreement
5 Advance received/
(Paid) 400.00 (1,548,909.75) 400.00 Nil Nil Nil
to Grasim
Industries Ltd
5. Previous year’s figures have been regrouped wherever necessary to
make them comparable
6. All the Amounts have been rounded off to Rupees Thousand with
Hundreds in Decimals.
As per our report of even date attached to the Balance Sheet
FOR SAMRUDDHI SWASTIK TRADING AND INVESTMENTS LIMITED
For AMRITLAL H. JAIN & CO.,
Chartered Accountants
AMRITLAL H.JAIN
G.K. Tulsian
Partner
Shailendra K. Jain
UJJAIN ANIL KUMAR LADHA Adesh Gupta
Dated : 29 April, 2011 Manager and Company Secretary Directors
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