Mar 31, 2016
1. Previous year figures have been regrouped and / or rearranged where ever necessary.
2. The Company has carefully considered the impact of Accounting Standard -28 pertaining to Impairment loss. As the recoverable amount of assets is higher than the W.D.V. of its Fixed Assets and hence no provision is made for impairment of Assets.
3. The balances of unsecured loan, trade payables, loans & advances and trade receivables are subject to confirmation by respective parties.
4. In the opinion of the Board of Directors, provisions for depreciation and all liabilities are adequate and not in excess of the amount reasonably necessary.
5. Wherever external evidence in the form of cash memos / bills / supporting are not available, the internal vouchers have been prepared, authorized and approved.
6. The company''s major business activity is of trading in shares & securities in future and option segment and gross turnover of trading in future and option segment is of Rs. 5339.22 crores. The company has also carried out the business of trading in commodity and gross turnover of trading in commodity is of Rs. 65.87 crores.
7. The company is having its own funds which were temporarily given on a current account transaction under the principle of commercial expediency for the business purpose.
However, the company has already filed an application before the RBI for granting the registration to the company as a Non-Banking Finance Company vide application dated May 13, 2016.
Mar 31, 2015
A. GENERAL NOTES:
As regards the other Accounting Standards, they are statutorily
applicable to our Company i.e Amrapali Fincap Private Limited but as
there are no transactions inviting those Accounting Standards, no
specific disclosures on the same are made.
B. OTHER NOTES FORMING PART OF THE ACCOUNTS:
1. The Company has carefully considered the impact of Accounting
Standard -28 pertaining to Impairment loss. As the recoverable amount
of assets is higher than the W.D.V. of its Fixed Assets and hence no
provision is made for impairment of Assets.
2. The balances of unsecured loan and loans and advances are subject
to confirmation by respective parties.
3. In the opinion of the Board of Directors, provisions for
depreciation and all liabilities are adequate and not in excess of the
amount reasonably necessary.
4. Wherever external evidence in the form of cash memos / bills /
supporting are not available, the internal vouchers have been prepared,
authorized and approved.
5. The search proceedings u/s.132 of the Income-tax Act, 1961 has been
carried out by the Income-tax Authority at the business premises of the
company Amrapali Fin cap Pvt Ltd. on 26/10/2012. In pursuance of the
search proceedings, the company and other applicants of Amrapali Group
have filed applications before the Hon'ble Settlement Commission,
Mumbai. Wherein the company has disclosed net additional income of
Rs.1,93,21,097/- for the F.Y.2006-07 to 2013-14 relevant to A.Y.2007-08
to 2014-15. During the year the Hon'ble Settlement Commission has
passed an Order u/s.245D(1) of the Act dated 21/11/2014 admitting the
application of the company and the Hon'ble Settlement Commission has
also passed an Order u/s.245D(2C) of the Act dated 9/1/2015 considering
the application of the company as valid. The company has paid
Income-tax with interest on the net additional income offered before
the Hon'ble Settlement Commission for an amount of Rs.1,18,13,000/-.
The necessary accounting entries have been passed in the books of
accounts. The capitalization in the form of cash balance has been given
in the books of accounts and the cash has been deposited in the bank
accounts. The net additional income offered before the Hon'ble
Settlement Commission net of taxes paid has been shown under the head
"Reserves & Surplus" for an amount of Rs.75,08,097/-.The final hearing
of the company before the Hon'ble Settlement Commission and final order
u/s.245D(4) of the Income-tax Act, 1961 is pending.
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