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Notes to Accounts of Adarsh Mercantile Ltd.

Mar 31, 2014

1. Application for Listing

The Company has filed an application with the Bombay Stock Exchange (BSE) for listing of its entire equity share capital of Rs 10 each on the BSE. The application of the Company is pending approval of BSE.

2. Capitai Commitments 31 March, 2014 31 March, 2013 Estimated amount of contracts remaining to be executed on capital account and not provided for (net 21,825,836 - of advances)

3. Contingent liabilities

Contingent Liability in respect of contested demand of AY 2008-09 44,600 44,600

4. Segment Reporting

The Company is predominantly engaged In the business of trading activities and Is a ''Single Segment'' Company.

5. Related Party Disclosures

As per Accounting Standard 18 ''Related Party Disclosures'' Issued by ICAI, the disclosure of transactions with related parties are given below:

(i) Names of the related parties and description of relationship

List of related parties where control exists:

1- Key Management Personnel (KMP) and their relatives

Mrs. Suchita Chhawchharia - Director

Mr. Ksbitii Chhawchharia - Relative of Director

2. Enterprises where KMP/ relatives of KMP have significant influence or control

BCCO Commodities Private Limited

BCCO Consultants Private Limited

BCCOHoldings Private Limited

B Chhawchharia & Co.

3, Associates

Avon Credit Private Limited

6. Accounting far Taxes on Income

As availability of future taxable income is not certain. On consideration of prudence, provision for deferred tax assets is not made In term of AS 22, Accounting for Taxes on Income.

7. Details of dues to micro and small enterprises as defined under the MS MED Act,2006

The Company has circulated confirmation for the identification of suppliers registered under the Micro, Small and Medium Enterprises Development Act, 200&. On the basis of information available with the Company under the aforesaid Act, there are no Enterprises to whom the Company owes dues which are outstanding at year end. This has been relied upon by the Auditors.

8. There is no employee eligible for gratuity and as such no provision made.

9. Previous year figures have been reclassified Wherever appropriate to confirm to current year''s presentation.

10. All the figures in these notes are in ''Rs'' except otherwise stated,


Mar 31, 2012

1. Contingent liabilities 31 March, 2012 31 March, 2011

Contingent Liability in respect of contested demand of AY 2008-09 44,600 44,600

2. Segment Reporting

The Company is predominantly engaged in the business of financial activities and is a ''Single Segment'' Company.

3. Related Party Disclosures

As per Accounting Standard 18 ''Related Party Disclosures'' issued by ICAI, the disclosure of transactions with related parties are given '' below:

(i) Names of the related parties and description of relationship

Associates Avon Credit Private Limited Gallon Holdings Private Limited

4. Accounting for Taxes on Income

As availability of future taxable income is not certain, on consideration of prudence, provision for deferred tax assets is not made in term of AS 22, Accounting for Taxes on Income.

5. Details of dues to micro and small enterprises as defined under the MSMED Act,2006

The Company has circulated confirmation for the identification of suppliers registered under the Micro, Small and Medium Enterprises Development Act, 2006. On the basis of information available with the Company under the aforesaid Act, there are no Enterprises to whom the Company owes dues which are outstanding at year end. This has been relied upon by the Auditors.

6. There is no employee eligible for gratuity and as such no provision made.


Mar 31, 2011

1) Contingent Liability not provided for in respect of contested demand for AY 2008-09 &. AY 2007-08 amounts to Rs 97,343.

2) Advances recoverable includes against given against property Rs 4,625,000 for acquisition and property development to body corporates.

3) The Company is predominantly engaged in the business of financial activities and is a ''Single Segment1 Company.

4) Related Party Disclosures:

(a) List of Related Parties:

Associates Avon Credit Pvt. Ltd.

Gallon Holdings Pvt. Ltd.

5) As availability of future taxable income is not.certain, on consideration of prudence, provision for deferred tax assets is not made in terms of AS - 22, Accounting for Taxes on Income.

6a) The Company does not owe any sum to Small Scale Undertakings which were outstanding for more than 30 days as at the end of the financial year.

6b) In the absence of necessary information relating to the suppliers registered as Micro, Small and Medium Enterprises under the Micro, Small and Medium Enterprises (Development) Act, 2006, the Company has not been able to identify such suppliers and the information required under the said Act could not be compiled and disclosed.

7) There is no employee eligible for Gratuity as such no provision made.

8) (a) Previous years figures have been rearranged/regrouped wherever necessary, (b) Previous year figures above are mentioned in the brackets.

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