Notes to Accounts of Abhinav Capital Services Ltd.

Mar 31, 2018

Note : 1 - Deferred Tax Assets

As per accounting standard (AS-22) on accounting for taxes on income issued by the Institute of Chartered Accountants of India, the provision for Deferred Tax Income for the Financial Year 2015-2016 has been computed at Rs. 16,497/- (Previous Year Income of Rs. 1,61,828/- ) and is Credited to the statement of Profit and Loss.

2) Debtors, Creditors & Loans and Advances:

The Debtors, creditors & Loans & Advances are stated at Book Value and the same are subject to confirmation and reconciliation, if any.

3) Foreign Exchange Transactions:

The company has not entered into any foreign exchange transactions during the year.

4) Borrowing Cost:

“NIL” amount of borrowing cost is capitalized during the year.

5) In the opinion of the Board, all the Current Assets, Loans and Advances are approximately of the values stated, if realized in the ordinary course of business.

6) There is only one segment as required by Accounting Standard 17 and accordingly the figures stated in the balance sheet and profit and loss account pertains to segment results only. Hence the same are not reported separately.

7) Contingent Liabilities and Capital and Other Commitments:

There are no Contingent Liabilities and outstanding capital and other commitments.

8) The Company has not appointed company secretary throughout the year under review, according to the provision of section 203 of the Companies Act, 2013 read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 due to the unavailability of Company Secretary. The Company has written a letter to the Institute of Company Secretaries of India for giving the names of suitable candidate for appointment of Company Secretary of India. However company has continued to avail services of practicing company secretary.

9) Disclosure of details as required by Revised Para 13 of Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 2007, earlier Para 9BB of Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998 :

All Accounting Standards and Guidance Notes issued by ICAI are applicable including for valuation of investments and other assets as also assets acquired in satisfaction of debt. However, market value in respect of quoted investments and break up/fair value/NAV in respect of unquoted investments should be disclosed irrespective of whether they are classified as long term or current in (4) above.

10) The day-to-day operations of the company are closely supervised by the Board of Directors and no significant deficiencies or material weakness has been observed in the operation and Financial Control and processes of the company. However, the company is in process of documenting an Internal Control framework mechanism commensurate with the size of the Company and nature of its activities.

11) Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classifications / disclosures.

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Mar 31, 2015

Notes Forming Integral Part of the Financial Statement:

1) The Company has obtained the registration as a Non-Banking Finance Company from Reserve Bank of India duly approved through its letter dated 16th May, 1998 having registration number as 13.00685.

2) Debtors, Creditors & Loans and Advances:

The Debtors, creditors & Loans & Advances are stated at Book Value and the same are subject to confirmation and reconciliation, if any.

3) Foreign Exchange Transactions:

The company has not entered into any foreign exchange transactions during the year.

4) Borrowing Cost:

"NIL." amount of borrowing cost is capitalized during the year.

5) In the opinion of the Board, all the Current Assets, Loans and Advances are approximately of the values stated, if realized in the ordinary course of business.

6) Related Party Transactions:

The related party transaction has incurred during the reporting period: NIL

7) There is only one segment as required by Accounting Standard 17 and accordingly the figures stated in the balance sheet and profit and loss account pertains to segment results only. Hence the same are not reported separately.

8) Contingent Liabilities and Capital & Other Commitments:

There are no Contingent Liabilities and outstanding capital and other commitments.

9) The Company has not appointed company secretary throughout the year under review, according to the provision of section 203 of the Companies Act, 2013 read with Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 due to the unavailability of Company Secretary. The Company has written a letter to the Institute of Company Secretaries of India for giving the names of suitable candidate for appointment of Company Secretary of India. However company has continued to avail services of practicing company secretary.

10) Disclosure of details as required by Revised Para 13 of Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 2007, earlier Para 9BB of Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998. :

* As per Separate Annexure Attached

11) Previous year's figures have re-grouped and re-arranged wherever necessary.

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Mar 31, 2014

1) The Company has obtained the registration as a Non-Banking Finance Company from Reserve Bank of India duly approved through its letter dated 16th May, 1998 having registration number as 13.00685

2) Debtors:

The Debtors are stated at Book Value and the same are subject to confirmation and reconciliation, if any.

3) Foreign Exchange Transactions:

The company has not entered into any foreign exchange transactions during the year.

4) Credit balances of creditors as also the Loans and Advances are shown as appearing in the accounts and are subject to confirmation.

5) Borrowing Cost:

"NIL" amount of borrowing cost is capitalized during the year.

6) In the opinion of the Board, all the Current Assets, Loans and Advances are approximately of the values stated, if realized in the ordinary course of business.

7) Related Party Transactions:

The related party transaction has incurred during the reporting period: NIL

8) There is only one segment as required by Accounting Standard 17 and accordingly the figures stated in the balance sheet and profit and loss account pertains to segment results only. Hence the same are not reported separately.

9 ) Contingent Liabilities:

There are no Contingent Liabilities.

10) The Company has not appointed company secretary throughout the year under review, according to the provision of sec 383 A (1) of the Companies Act, 1956 due to the unavailability of Company Secretary. The Company has written a letter to the Institute of Company Secretaries of India for giving the names of suitable candidate for appointment of Company Secretary of India. However company has continued to avail services of practicing company secretary.

11) Disclosure of details as required by Revised Para 13 of Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 2007, earlier Para 9BB of Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998.:

-As per Separate Annexure Attached

12) Previous year''s figures have re-grouped and re-arranged wherever necessary.

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Mar 31, 2013

1) Debtors:

The Debtors are stated at Book Value and the same are subject to confirmation and reconciliation, if any.

2) Foreign Exchange Transactions:

The company has not entered into any foreign exchange transactions during the year.

3) Credit balances of creditors as also the Loans and Advances are shown as appearing in the accounts and are subject to confirmation.

4) Borrowing Cost:

"NIL" amount of borrowing cost is capitalized during the year.

5) In the opinion of the Board, all the Current Assets, Loans and Advances are approximately of the values stated, if realized in the ordinary course of business.

6)The Company has obtained the registration as a Non-Banking Finance Company from Reserve Bank of India duly approved through its letter dated 16th May, 1998 having registration number as 13.00685

7) Related Party Transactions:

The related party transaction has incurred during the reporting period: NIL

8) Deferred Tax:

As per Accounting Standard (AS-22) on accounting for taxes on income issued by the Institute of Chartered Accountants of India, the provision for deferred tax Income for the year 2012-13 has been computed at Rs. 13,949/- (Previous Year Rs. 14415) and is credited to Statement of Profit & Loss A/c The Deferred Tax Assets as at 31 st March, 2013 comprises of the following:

9)There is only one segment as required by Accounting Standard 17 and accordingly the figures stated in the balance sheet and profit and loss account pertains to segment results only. Hence the same are not reported separately.

10) Contingent Liabilities:

There are no Contingent Liablities.

11) The Company has not appointed company secretary throughout the year under review, according to the provision of sec 383 A (1) of the Companies Act, 1956 due to the unavailability of Company Secretary. The Company has written a letter to the Institute of Company Secretaries of India for giving the names of suitable candidate for appointment of Company Secretary of India. However company has continued to avail services of practicing company secretary.

12) Disclosure of details as required by Revised Para 13 of Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 2007, earlier Para 9BB of Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998.: as per Annexure Attached

13) Previous year''s figures have re-grouped and re-arranged wherever necessary.

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Mar 31, 2012

1) Debtors:

The Debtors are stated at Book Value and the same are subject to confirmation and reconciliation, if any.

2) Foreign Exchange Transactions:

The company has not entered into any foreign exchange transactions during the year.

3) Credit balances of creditors as also the Loans and Advances are shown as appearing in the accounts and are subject to confirmation.

4) Borrowing Cost:

"NIL." amount of borrowing cost is capitalized during the year.

5) In the opinion of the Board, all the Current Assets, Loans and Advances are approximately of the values stated, if realized in the ordinary course of business.

6) The Company has obtained the registration as a Non-Banking Finance Company from Reserve Bank of India duly approved through its letter dated 16th May, 1998 having registration number as 13.00685

7) Related Party Transactions:

The related party transaction has incurred during the reporting period: NIL

8) Statement under Section 217(2A) of the Companies Act, 1956:

There was no employee in receipt of remuneration at a rate of Rs.24,00,000/- per annum for the whole year, nor was there an employee in receipt of remuneration of Rs.2,00,000/- or more per month for any part of the year.

9) Deferred Tax:

As per Accounting Standard (AS-22) on accounting for taxes on income issued by the Institute of Chartered Accountants of India, the provision for Deferred tax Income for the year 2011-12 has been computed at 14,415 (Previous Year Rs. 76,696) and is credited to Statement of Profit & Loss A/c. The Deferred Tax Assets as at 31st March, 2012 comprises of the following:

10) There is only one segment as required by Accounting Standard 17 and accordingly the figures stated in the balance sheet and profit and loss account pertains to segment results only. Hence the same are not reported separately.

11) Impairment of Assets:

There is only one class of asset i.e. Office Equipments.

12) Contingent Liabilities:

Claims against the company not acknowledged as debt: NIL

Income Tax Demand for A.Y 06-07 & A.Y 07-08 NIL

Estimated value of contracts remaining to be executed on capital account NIL and remaining to be accounted

13) The Company has not appointed company secretary throughout the year under review, according to the provision of sec 383 A (1) of the Companies Act, 1956 due to the unavailability to Company Secretary. The Company has written a letter to the Institute of Company Secretaries of India for giving the names of suitable candidate for appointment of Company Secretary of India. However company has continued to avail services of practicing company secretary.

14) Disclosure of details as required by Revised Para 13 of Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 2007, earlier Para 9BB of Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998.: as per Annexure Attached

15) Previous year's figures have re-grouped and re-arranged wherever necessary.

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Mar 31, 2011

1) Debtors:

The Debtors are stated at Book Value and the same are subject to confirmation and reconciliation, if any.

2) Foreign Exchange Transactions:

The company has not entered into any foreign exchange transactions during the year.

3) Credit balances of creditors as also the Loans and Advances are shown as appearing in the accounts and are subject to confirmation.

4) Borrowing Cost:

“NIL” amount of borrowing cost is capitalized during the year.

5) In the opinion of the Board, all the Current Assets, Loans and Advances are approximately of the values stated, if realized in the ordinary course of business.

6) The Company has obtained the registration as a Non-Banking Finance Company from Reserve Bank of India duly approved through its letter dated 16th May, 1998 having registration number as 13.00685

7) Related Party Transactions:

The following related party transaction has incurred during the reporting period : NIL

8) Statement under Section 217(2A) of the Companies Act, 1956:

There was no employee in receipt of remuneration at a rate of Rs. 24,00,000/- per annum for the whole year, nor was there an employee in receipt of remuneration of Rs. 2,00,000/- or more per month for any part of the year.

No. of Employees: 0 Amount : NIL

9) There is only one segment as required by Accounting Standard 17 and accordingly the figures stated in the balance sheet and profit and loss account pertains to segment results only. Hence the same are not reported separately.

10) Impairment of Assets:

There is only one class of asset i.e. Office Equipments

The amount of impairment losses recognizes NIL in the statement of profit and loss during the period and the line item(s) of the statement of profit and loss in which those impairment losses are included:

The amount of reversals of impairment NIL losses recognizes in the statement of profit and loss during the period and the line item(s) of the statement of profit and loss in which those impairment losses are reversed:

The amount of impairment losses NIL recognized directly against revaluation surplus during the period:

The amount of reversals of impairment losses recognized directly in revaluation surplus during the period: NIL

11) Contingent Liabilities:

Claims against the company not acknowledged as debt: Rs. 6,84,185.00

Income Tax Demand for A.Y 06-07 & A.Y 07-08 Rs. 6,71,131.00

Estimated value of contracts remaining to be executed on capital account NIL and remaining to be accounted

12) The Company has not appointed company secretary throughout the year under review, according to the provision of sec 383 A (1) of the Companies Act, 1956 due to the unavailability to Company Secretary. The Company has written a letter to the Institute of Company Secretaries of India for giving the names of suitable candidate for appointment of Company Secretary of India. However company has continued to avail services of practicing company secretary.

13) Disclosure of details as required by Revised Para 13 of Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 2007, earlier Para 9BB of Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998.

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Mar 31, 2010

1) Debtors:

The Debtors are stated at Book Value and the same are subject to confirmation and reconciliation, if any.

2) Foreign Exchange Transactions:

The company has not entered into any foreign exchange transactions during the year.

3) Credit balances of creditors as also the Loans and Advances are shown as appearing in the accounts and are subject to confirmation.

4) Borrowing Cost:

"NIL" amount of borrowing cost is capitalized during the year.

5) In the opinion of the Board, all the Current Assets, Loans and Advances are approximately of the values stated, if realized in the ordinary course of business.

6) The Company has obtained the registration as a Non-Banking Finance Company from Reserve Bank of India duly approved through its letter dated 16th May, 1998 having registration number as 13.00685

7) Statement under Section 217(2A) of the Companies Act, 1956:

There was no employee in receipt of remuneration at a rate of Rs.24,00,000/- per annum for the whole year, nor was there an employee in receipt of remuneration of Rs.2,00,000/- or more per month for any part of the year.

8) There is only one segment as required by Accounting Standard 17 and accordingly the figures stated in the balance sheet and profit and loss account pertains to segment results only. Hence the same are not reported separately.

9) Impairment of Assets:

There is only one class of asset i.e. Office Equipments.

The amount of impairment losses recognizes in the statement of profit and loss during the period and the line item(s) of the statement of profit and loss in which NIL those impairment losses are included:

The amount of reversals of impairment losses recognizes in the statement of profit and loss during the period and the line item(s) of the statement of profit and loss in NIL which those impairment losses are reversed:

The amount of impairment losses recognized directly against revaluation surplus during the period: NIL

The amount of reversals of impairment losses recognized directly in revaluation surplus during the period: NIL

10) Contingent Liabilities:

Claims against the company not acknowledged as debt: Rs.6,84,185.00

Income Tax Demand for A.Y 06-07 & A.Y 07-08 Rs.6,71,131.00

Estimated value of contracts remaining to be executed on capital account and NIL remaining to be accounted

11) The Company has not appointed company secretary throughout the year under review, according to the provision of sec 383 A (1) of the Companies Act, 1956 due to the unavailability to Company Secretary. The Company has written a letter to the Institute of Company Secretaries of India for giving the names of suitable candidate for appointment of Company Secretary of India. However company has continued to avail services of practicing company secretary.

12) Disclosure of details as required by Revised Para 13 of Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 2007, earlier Para 9BB of Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998.

13) Previous years figures have re-grouped and re-arranged wherever necessary.