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Notes to Accounts of Abirami Financial Services (India) Ltd.

Mar 31, 2015

PARTICULARS AS AT AS AT 31/03/2015 31/03/2014

RS RS. Rs. Rs.

CONTINGENT LIABILITIES AND COMMITMENTS 0 0

1. Others Points:

(a) The company has surrendered its NBFC license during April 2014 and hence it has discontinued its operations as a Non Banking Finahce Loan Company during the year under review. Balance amount in statutory reserve transferred to general reserve and balance amount in contingent Provision against Standard asset also transferred to surplus in profit and Loss account.

(b) The company has a proposal to demerge. The necessary procedures are being carried out subject to the approval of the regulatory authorities.

2. Expenditure in Foreign Currency: NIL

3. Contingent Liability not provided for: NIL

4. Taxes on Income:

Provision for current tax is made for the amount of tax payable in respect of taxable income for the year under the Income Tax Act, 1961.

The Net cumulative effect of the timing differences, as contemplated under the standard, results in a deferred tax asset. The company as a matter of conservative accounting policy, has not reflected this in the financial statements.

Previous year's figures have been regrouped and reclassified wherever necessary to conform to the current year's presentation.

This is the Notes referred to in our report of even date addressed to the members of the Company.


Mar 31, 2014

Not Available


Mar 31, 2013

1. Expenditure in Foreign Currency: NIL

2. Contingent Liability not provided for: NIL

3. Taxes on Income:

Provision for current tax is made for the amount of tax payable in respect of taxable income for the year under the Income Tax Act, 1961.

The Net cumulative effect of the timing differences, as contemplated under the standard, results in a deferred tax asset. The company as a matter of conservative accounting policy, has not reflected this in the financial statements.

Previous year''s figures have been regrouped and reclassified wherever necessary to conform to the current year''s presentation.

This is the Notes referred to in our report of even date addressed to the members of the Company.


Mar 31, 2012

1. Expenditure in Foreign Currency: NIL

2. Contingent Liability not provided for . NIL

3. Taxes on Income:

Provision for current tax is made for the amount of tax payable in respect of taxable income for the year under the Income Tax Act, 1961.

The Net cumulative effect of the timing differences, as contemplated under the standard, results in a deferred tax asset. The company as a matter of conservative accounting policy, has not reflected this in the financial statements.

Previous year's figures have been regrouped and reclassified wherever necessary to conform to the current year's presentation.

This is the Notes referred to in our report of even date addressed to the members of the Company.


Mar 31, 2011

1. Stock on Hire:

Stock on hire has been valued at the amount advanced less installments received.

2. Expenditure in Foreign Currency: NIL

3. Contingent Liability not provided for: NIL

4. Taxes on Income:

Provision for current tax is made for the amount of tax payable in respect of taxable income for the year under the Income Tax Act, 1961.

The Net cumulative effect of the timing differences, as contemplated under the standard, results in a deferred tax asset. The company as a matter of conservative accounting policy, has not reflected this in the financial statements.

Previous years figures have been regrouped and reclassified wherever necessary to conform to the current years presentation.

This is the Notes referred to in our report of even date addressed to the members of the Company.


Mar 31, 2010

1 Contingent liability not provided for: NIL.

2 Figures have been regrouped or reclassified wherever necessary.

3 Figures have been rounded off to the nearest rupee.

4 The previous year figures for the Balance Sheet and Profit and Loss A/c are given wherever applicable.

5 Managerial Remuneration:

Total Managerial Remuneration paid to Executive Director: Rs.2,94,000/-.

6 Provision for Taxations includes earlier years provision also.

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