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Accounting Policies of Anjani Finance Ltd. Company

Mar 31, 2014

(i) Basis of Preparation of Financial Statements

The financial statements are prepared and presented under the historical cost convention on an accrual basis of accounting in accordance with generally accepted accounting principles in India and are to comply with the applicable accounting standards notified under Section 211 (3C) of the Companies (Accounting Standards) Rules, 2006 and the relevant provisions of the Companies Act, 1956 read with the general circular 15/2013 dated 13th September,2013 of the Ministry of Corporate Affairs in respect of the Companies Act,2013. The accounting policies have been consistently applied unless otherwise stated.

(ii) Use of Estimates:

The preparation of financial statements requires the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as at the date of the financial statements and the reported amounts of incomes and expenses during the reporting period. Difference between the actual results and estimates are recognised in the period in which the results are known or materialise.

(iii) Revenue Recognition

(a) Income from trading in shares and securities are accounted on accrual basis (Value wise) under the head Sales and Income from share Operation. It is management''s decision to classify shares and securities trading as investments or trading operation.

(b) Interest income on loans is recognized on accrual basis.

(c) Revenue from windmill energy generation is accounted for on the basis of the billing to Rajasthan Power Procurement Company as per the Purchase of Power Agreement entered into with them.

(iv) Fixed Assets

Fixed assets are stated at Cost Less Depreciation on Written Down method under Companies Act 1956. The costs of fixed assets not ready for their intended use before balance sheet date are disclosed under capital work- in-progress.

(v) Depreciation

Company has provided Depreciation as per written down value Method at the rates and manner prescribed in Schedule XIV of the Companies Act, 1956.

(vi) Retirement Benefits

We have been informed by the Management that payment of Gratuity, Provident Fund is not applicable to Company.

(vii) Borrowing Cost

Interest and other costs in connection with the borrowing of the funds to the extent related/attributed to acquisition or construction of qualifying assets are capitalised up to the date when such fixed assets are ready for their intended use and all other borrowing costs are charged to statement of Profit and Loss.

(viii) Provision for Taxation

Provision for Income tax for the current year is based on the estimated taxable income for the period in accordance with the provisions of the Income Tax Act, 1961.

Deferred Tax resulting from "timing difference” between book and taxable profit is accounted for using tax rates & tax laws that have been enacted or substantively enacted as on the Balance Sheet date. The deferred tax asset is recognized only to the extent that there is a reasonable certainty that the future taxable profit will be available against which the deferred tax assets can be realized.

(ix) Segment Reporting

The Company has identified its operations into two major Businesses: Financial / Investment Activity and Wind Mill Energy Generation. The Company has identified its major operations into single geographical area that is within India.

(x) Contingent Liabilities:

Contingent Liabilities are disclosed by way of notes to the accounts explaining the nature and quantum of such liabilities. Contingent liabilities are disclosed in respect of possible obligations that arise from past events but the existence is confirmed by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the company.


Mar 31, 2013

(i) Basis of Preparation of Financial Statements

The financial statements are prepared and presented under the historical cost convention on an accrual basis of accounting in accordance with generally accepted accounting principles in India and are to comply with the applicable accounting standards notified under Section 211 (3C) of the Companies (Accounting Standards) Rules, 2006 and the relevant provisions of the Companies Act, 1956. The accounting policies have been consistently applied unless otherwise stated.

(ii) Use of Estimates:

The preparation of financial statements requires the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities as at the date of the financial statements and the reported amounts of incomes and expenses during the reporting period. Difference between the actual results and estimates are recognised in the period in which the results are known or materialise.

(iii) Revenue Recognition

(a) Income from trading in shares and securities are accounted on accrual basis (Value wise) under the head Sales and Income from share Operation. It is management''s decision to classify shares and securities trading as investments or trading operation.

(b) Interest income on loans is recognized on accrual basis.

(c) Revenue from windmill energy generation is accounted for on the basis of the billing to Rajasthan Power Procurement Company as per the Purchase of Power Agreement entered into with them.

(iv) Fixed Assets

Fixed assets are stated at Cost Less Depreciation on Written Down method under the Companies Act 1956.

The costs of fixed assets not ready for their intended use before balance sheet date are disclosed under capital work-in-progress.

(v) Depreciation Company has provided Depreciation as per written down value Method at the rates and manner prescribed in Schedule XIV of the Companies Act, 1956.

(vi) Retirement Benefits We have been informed that payment of Gratuity, Provident Fund is not applicable to Company.

(vii) Borrowing Cost Interest and other costs in connection with the borrowing of the funds to the extent related/attributed to acquisition or construction of qualifying assets are capitalised up to the date when such fixed assets are ready for their intended use and all other borrowing costs are charged to statement of Profit and Loss.

(viii)Provision for Taxation Provision for Income tax for the current year is based on the estimated taxable income for the period in accordance with the provisions of the Income Tax Act. 1961.

Deferred Tax resulting from "timing difference" between book and taxable profit is accounted for using tax rates & tax laws that have been enacted or substantively enacted as on the Balance Sheet date. The deferred tax asset is recognized only to the extent that there is a reasonable ertainty that the future taxable profit will be available against which the deferred tax assets can be realized.

(ix) Segment Reporting

The Company has identified its operations into two major Businesses: Financial / Investment Activity and Wind

Mill Energy Generation.The Company has identified its major operations into single geographical area that is within India.

(x) Contingent Liabilities:

Contingent Liabilities are disclosed by way of notes to the accounts explaining the nature and quantum of such liabilities.

Contingent liabilities are disclosed in respect of possible obligations that arise from past events but the existence is confirmed by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the company.


Mar 31, 2012

(i) Basis of Preparation of Financial Statements

The financial statements have been prepared and presented on an accrual basis under the historical cost convention and in accordance with the applicable accounting standards prescribed by the Companies (Accounting Standards) Rules, 2006 and the relevant provisions of the Companies Act, 1956. The accounting policies have been consistently applied unless otherwise stated.

(ii) Use of Estimates:

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumption that affects the reported amount of assets and liabilities on the date of financial statements and reported amount of revenues and expenses during the reporting period. Difference between the actual results and estimates are recognized in the period in which the results are known/materialized.

(iii) Revenue Recognition

(a) Income from trading in shares and securities are accounted on accrual basis (Value wise) under the head Sales and Income from share Operation. It is management's decision to classify shares and securities trading as investments or trading operation.

(b) Interest income on loans is recognized on accrual basis.

(c) Revenue from windmill energy generation is accounted for on the basis of the billing to Rajasthan Power Procurement Company as per the Purchase of Power Agreement entered into with them.

(iv) Fixed Assets

Fixed assets are stated at Cost Less Depreciation on Written Down method under Companies Act 1956. Incidental Expenditure directly attributable to construction is accumulated as Capital Work in Progress.

(v) Depreciation

Company has provided Depreciation as per written down value Method at the rates and manner prescribed in . Schedule XIV of the Companies Act, 1956.

(vi) Retirement Benefits

We have been informed that payment of Gratuity, Provident Fund is not applicable to Company.

(vii) Borrowing Cost

Borrowing cost is recognized as expense in the period in which these are incurred.

(viii) Provision for Taxation

Provision for Income tax for the current year is based on the estimated taxable income for the period in accordance with the provisions of the Income Tax Act, 1961.

The Deferred Tax resulting from timing difference between book and taxable profit is accounted for using tax rates and tax laws that have been enacted or substantively enacted as at the Balance Sheet date.

(ix) Segment Reporting

The Company has identified its operations into two major Businesses: Financial / Investment Activity and Wind Mill Energy Generation.

The Company has identified its major operations into single geographical area that is within India.

(x) Contingent Liabilities:

Contingent Liabilities are disclosed by way of notes to the accounts explaining the nature and quantum of such , liabilities.

Contingent liabilities are disclosed in respect of possible obligations that arise from past events but the existence is confirmed by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the company.


Mar 31, 2010

(1) Basis of Preparation of Financial Statements

The Financial Statements are prepared and presented under the historical cost convention on the accrual basis of accounting in accordance with accounting principles generally accepted in India ("Indian GAAP") and are in compliance with Accounting Standard issued by the Institute of Chartered Accountants of India ("ICAI") and the provisions of Companies Act, 1956.

(2) Revenue Recognition

(i) Income from trading in shares and securities are accounted on accrual basis (Value wise) under the head Sales and Income from share Operation. It is managements decision to classify shares and securities trading as investments or trading operation.

(ii) Interest income on loans is recognized on accrual basis.

(iii) Revenue from windmill energy generation is accounted for on the basis of the billing to Rajasthan Power Procurement Company as per the Purchase of Power Agreement entered into with them.

(3) Fixed Assets

Fixed assets are stated at Cost Less Depreciation on Written Down method under Companies Act 1956. Incidental Expenditure directly attributable to construction is accumulated as Capital Work in Progress.

(4) Depreciation

Company has provided Depreciation as per written down value Method at the rates and manner prescribed in Schedule XIV of the Companies Act, 1956.

(5) Retirement Benefits

We have been informed that payment of Gratuity, Provident Fund is not applicable to Company.

(6) Borrowing Cost

Borrowing cost is recognised as expense in the period in which these are incurred.

(7) Provision for Taxation

Provision for Income tax for the current year is based on the estimated taxable income for the period in accordance with the provisions of the Income Tax Act, 1961.

The Deferred Tax resulting from timing difference between book and taxable profit is accounted for using tax rates and tax laws that have been enacted or substantively enacted as at the Balance Sheet date.

(8) Segment Reporting

The Company has identified its operations into two major Businesses: Financial / Investment Activity and Wind

Mill Energy Generation.

The Company has identified its major operations into single geographical area that is within India.

(9) Contingent Liabilities:

Contingent Liabilities are disclosed by way of notes to the accounts explaining the nature and quantum of such liabilities.

Contingent liabilities are disclosed in respect of possible obligations that arise from past events but the existence is confirmed by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the company.


Mar 31, 2009

(A) METHOD OF ACCOUNTING

Company maintain its accounts on accrual basis following the historical cost convention in compliance with the Accounting Standards Specified to be mandatory by Institute of Chartered Accountant of India and Relevant Provision of the Companies Act, 1956.

(B) REVENUE RECOGNITION

(i) Income from trading in shares and securities are accounted on accrual basis (Value wise) under the head Sales and Income from share Operation It is managements decision to classify shares and securities trading as investments or trading operation.

(ii) Interest income on loans is recognized on accrual basis.

(C) EXPENSES

It is Companys policy to account for all expenses on accrual basic except certain expense of traditional nature

(D) FIXED ASSETS AND DEPRECIATION

Fixed assets are stated at cost less accumulated depreciation on Written Down method under Companies Act 1956.

(E) RETIREMENT BENEFITS

We have been informed that payment of Gratuity, Provident Fund is not applicable to Company.

(F) PROVISION FOR TAXATION

Provision for Income tax and fringe benefit tax for the current year is based on the estimated taxable income for the period in accordance with the provisions of the Income Tax Act, 1961.

The Deferred Tax resulting from timing difference between book & taxable profit is accounted for using tax rates & tax laws that have been enacted or substantively enacted as at the Balance Sheet date.

 
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