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Notes to Accounts of Ad-Manum Finance Ltd.

Mar 31, 2015

(A) ADDITIONAL NOTES ON ACCOUNTS

1) The Company is contingent Liability in respect:-

2) In accordance with A5-13 the long term investments held by the company are to be carried at cost. All the investments of the Company have been considered by the management to be of long-term nature.

3) The company has identified doubtful debt of Rs. 13.87 Crores (Pr.Yr. Rs. 11.98 Crore) and there against made NPA Provision of Rs.291.31 Lacs (Pr. Yr. Rs. 157.64 Lacs) as per prudential norms of RBI Act and rules, including fraud-covered NPA amounting to Rs.NIL (Previous year Rs.160.21). The fraud covered NPA is fully written off amounting toRs. 215.79 Lacs.

4) Pursuant to the Provisions of Section 135 of the Companies Act 2013 read with companies (Corporate Social Responsibility Policy) Rules 2014 the company has provided for an amount of 718.5 Lacs towards the discharge of Corporate Social Responsibility.

5) During the year company has written off certain loan creditors amounting to Rs. 8127240 and the same is shown as exceptional item.

6) Segment Reporting:

Based on the accounting principles given in AS -17 "Segment Reporting" issued by the Institute of Chartered Accountants of India, the size of operation of wind power segment does not come under Reportable segment. Accordingly the company has no reportable segment other than finance.

7) There are no dues payable to small scale undertaking in view of the business of the nature of the company.

8) Depreciation on fixed assets is provided on straight line method as per the estimated remaining useful life of assets pursuant to t h e provisions of section 123 read with Schedule II - Part C of The Companies Act, 2013. Accordingly the depreciation for the Current year is taken at Rs.3799817. Had the earlier method been followed the depreciation would have been at Rs.12246884.

9) Additional Information as required under Part II clause (viii) (d) of Schedule III of the Companies Act, 2013 in respect of payment of Dividend in foreign exchange:

- No. of Shareholders : One

- Total no. of shares held : 2770000 equity shares

- Dividend for the Financial Year: 2013-14

- Amount remitted : INR 2770000 (USD 57584.93).

10) As per AS-3 the Cash Flow Statement is enclosed herewith.

11) Disclosure in the Balance Sheet under Non-Banking Financial Company as required by RBI as per their Circular RBI/2008-09116 DNBS(PD).CC.No.l25/03.05.002/2008-2009, Guidelines for NBFC-ND-SI as regards capital adequacy, liquidity and disclosure norms is enclosed as per Statement-"A".

12) Figures related to previous year regrouped/rearranged wherever necessary.

13) The figures have been rounded off to the nearest multiple of a rupee.

14) Figures of Debtors and Creditors are subject to confirmation,


Mar 31, 2014

1. The Company is contingently liable in respect:-

Current year Previous year Rs. In Lacs Rs. In Lacs

a) Disputed demand of Income Tax not provided For: 425.92 56.15

b) Disputed demand of Custom related to F.Y.1996-97 10.00 10.00

Fully paid but not provided for.

2. In accordance with AS-13 the long term investment held by the company are to be carried at cost. All the investments of the Company have been considered by the management to be of long term nature.

3. The company has identified doubtful debt of Rs. 11.98 Crores (P/Y Rs. 3.95 Crore) and there against made NPA Provision of X 157.64 Lacs (P/Y Rs. 53.35 Lacs) as per prudential norms of RBI Act and rules, including fraud-covered NPA amounting to Rs. 60.21 Lacs.

4. During the year the Company has continued taking Corporate Guarantees from Agarwal Coal Corporation Pvt. Ltd. and Agarwal Transport Corporation Pvt. Ltd. for Rs. 100 Crores (P/Y Rs. 100 Crores), each, which stand withdrawn as at 31st March, 2014, in pursuant to compliance with Section 185(1) of the Companies Act, 2013.

8. Segment Reporting:

Based on the accounting principles given in AS - 17 "Segment Reporting" issued by the Institute of Chartered Accountants of India, the size of operation of wind power segment does not come under Reportable segment. Accordingly company has no reportable segment other than finance.

9. The above information regarding related parties have been determined to the extent such parties have been identified on the basis of information available with the Company.

* In pursuant to the introduction of Section 185(1) of the Companies Act, 2013, the Corporate Guarantees extended have been withdrawn for compliance with the said section.

10. There are no dues payable to small scale undertaking in view of the business of the nature of the company.

11. Additional Information as required under Part II (VIII) of Revised Schedule VI of the Companies Act, 1956 in respect of foreign exchange earnings and outgo etc. are - Remittance of Dividend (USD Equivalent 63728.34)Rs. 2770000.

12. As per AS-3 the cash flow statement is enclosed herewith.

13. Disclosure in the Balance Sheet under Non-Banking Financial Company as required by RBI as per their Circular RBI/2008-09116 DNBS(PD).CC.No.125/03.05.002/2008-2009, Guidelines for NBFC-ND-SI as regards capital adequacy, liquidity and disclosure norms is enclosed as per statement-"A" .

14. Figures related to previous year regrouped/rearranged wherever necessary.

15. The figures have been rounded off to the nearest multiple of a rupee.


Mar 31, 2013

1. Segment Reporting

Based on the accounting principles given in Accounting Standard AS -17 "Segment Reporting" issued by the Institute of Chartered Accountants of India, the size of operation of wind power segment does not come under Reportable segment Accordingly the company has no reportable segment other than finance.

2. There are no dues payable to small scale industrial undertaking in view of the business of the nature of the company.

3. Additional Information as required under part II (VIII) of revised Schedule VI of the Companies Act, 1956 m respect of foreign exchange earnings and outgo etc. are :-

a) Director''s Foreign Travelling Expenditure Rs. NIL(Pr.yr.Rs. 51842)

b) Remittance in foreign currency on account of dividend to Agarwal Coal Corporation (S) PTE Ltd. (Related Party) for the financial year 2011-12 in respect of 2770000 equity shares of Rs. 10/- each held by them at the rate Rs. 1/- share amounting to Rs. 2770000 (Pr. Yr. 561590)

4. As per AS-3 the cash flow statement is enclosed herewith.

5. Disclosure in the Balance Sheet under Non-Banking Financial Company as required by RBI as per their Circular RBI/2008-09116 DNBS(PD).CC.No.l25/ 03.05.002/2008-2009, Guidelines for NBFC-ND-SI as regards capital adequacy, liquidity and disclosure norms is enclosed as per statement-"A".

6. The figures have been rounded off to the nearest multiple of a rupee.


Mar 31, 2010

1) Adjustment relating to previous year amounting to Rs 1036253/- pertains to the compensation of under performance of wind power mill of suzlon shown as income in earlier years The amount of compensation, if any, shall be settled by the suppliers in the F.Y. 2010-11 and accordingly, income if any shall be accounted for on cash basis.

2) The company is contigently liable in respect of :-

a) Disputed demand of Rs 794395/- under appeal in respect of income tax.

b) In respect of corporate guarantee of Rs 34 crore taken from Agarwal Coal Corporation Pvt. Ltd.

c) In respect of corporate guarantee of Rs 34 crore taken from Agarwal Transport Corporation Pvt. Ltd.

3) The company has made adequate provision of Income Tax against disputed demands, pending settlement in appeals/rectification at various stages.

4) In accordance with accounting standard (AS) 13 issued by the council of the Institute of Chartered Accountants of India, the long term investments held by the company are to be carried at cost. All the investments of the Company have been considered by the management to be of long-term nature.

5) The Company has discontinued the operations with HDFC Bank Ltd., to act as a Channel Partner. Accordingly, the debtors on account of HDFC shall become the debtors ot the company.

6) Adequate provision against the doubtful sundry debtors has been made in the books of accounts as per the prudential norms prescribed by RBI related to Non Performing Assets.

7. SEGMENT REPORTING

Based on the accounting principles given in Accounting Standard AS-17 "Segment Reporting" issued by the Institute of Chartered Accountants of India, the size of operation of wind power segment does not come under reportable segment. Accordingly the company has no reportable segment other than finance.

8. RELATED PARTY DISCLOSURE AS PER ACCOUNTING STANDARD - 18 :

a) Key Management Personnel : Mr. Vinod K. Agarwal, M.D.

Mr. J.N. Choudhury, Director- In-Charge

b) Relative(s) of Key Management : Smt. Neena Devi Agarwal, Wife of M.D. Personnel Tapan Agarwal, Son of M.D. Smt. Dolly Choudhury, Wife of Mr. J.N. Choudhury, Director- In-Charge

c) Asssociates : Agarwal Coal Corporation Pvt. Ltd. Agarwal Transport Corporation Pvt. Ltd. Available Finance Ltd.



d) the above information regarding related parties have been determined to the extent such parties have been identified on the basis of information available with the Company.

9. There are no dues payable to small scale industrial undertaking in view of" the business of the nature of the company.

10. Additional Information as required under part Il & lll of schedule VI of the Companies Act, 1956 in respect of quantity records, foreign exchange earnings and outgo etc.

a) Foreign exchange expenditures on account of FNCRB interest Rs 615932 - (Previous year- Rs 1687993).

b) Production of Wind Power 2280624 units (Previous year 2195471 units)

11. As per AS-3 the cash How statement is enclosed here with.

12. Additional Information in respect of" balance sheet abstract as required under part IV of Schedule VI of the Companies Act, 1956 is Enclosed herewith.

13. As required by para 9BB of NBFC Prudential Norms (Reserve Bank) Directions, 1998 a statement is enclosed herewith.

14. Previous year figures have been re-grouped re-arranged wherever considered necessary.

15. The figures have been rounded off to the nearest multiple of a rupee.

 
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