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Accounting Policies of Apollo Finvest (India) Ltd. Company

Mar 31, 2015

1) SIGNIFICANT ACCOUNTING POLICIES

A System of Accounting:

The Company follows accrual system of accounting except in case of interest on allotment money m arrears which is accounted as and when received.

B. Revenue Recognition

(i) Lease Rentals are recognized as revenue over the lease period as per the terms of the lease agreements. Lease Equalization Amount is computed « accordance with Guidance Note issued by ICAJ

(ii) Income is recognized m respect of Non-Performing Assets on recent basis as per RBI Prudential Norms applicable to NBPC.

(iii) Profit/Loss on Sale of Investments is worked out on the basis of FIFO Method.

(iv) Interest income is recognized on time proportion basis.

C. Expenses:

(i) Al expenses and income are accounted on accrual basis.

(ii) As per the guidelines (or Prudential Norms prescribed, the Company makes provision against Non-Performing Assets.

D. Fixed Assets

Fixed Assets are stated at cost less accumulated depredation after taking into consideration the Lease Adjustment Amount.

E. Impairment of Fixed Assets:

Fixed Assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Whenever the carrying amount of an asset exceeds its recoverable amount, an impairment toss s recognized in the income statement for items of fixed assets earned at cost However, m the opinion of the management no provision is required for impairment of assets in the current year.

F. Depreciation

Consequent to the enactment of the Companies Act. 2013. the company has reviewed and revised toe estimated useful Me of its fixed assets in accordance with the provisions of the Schedule n of the Companies Act. 2013.

G. Investments.

a) All the Investments are classified as long-term investment based on intention of holding them for a period exceeding one year.

b) Long term investments have been valued at cost plus any incidental expenses thereto.

c) Provision for diminution in the value of investments is made to recognize a decline, other than the temporary fal to the value.

H. Stock-In-Trade

Stock-in Trade is valued sent wise at Cost or Market price whichever is tower.

I. Gratuity & Other Retirement Benefit

Liabilities for gratuity and leave encashment are provided for on an actuarial valuation basis.


Mar 31, 2014

A System of Accounting:

The Company follows accrual system of accounting except in case of interest on allotment money in arrears and doubtful lease rental which is accounted as and when received.

B. Revenue Recognition:

(i) Lease Rentals are recognized as revenue over the lease period as per the terms of the lease agreements. Lease Equalisation Amount is computed in accordance with Guidance Note issued by ICAI.

(ii) Income is recognized in respect of Non-Performing Assets on receipt basis as per RBI Prudential Norms applicable to NBFC.

(iii) Profit/Loss on Sale of Investments is worked out on the basis of FIFO Method.

(iv) Interest income is recognized on time proportion basis.

C. Expenses:

(i) All expenses and income are accounted on accrual basis.

(ii) As per the guidelines for Prudential Norms prescribed, the Company makes pro- vision against Non-Performing Assets.

D. Fixed Assets:

Fixed Assets are stated at cost less accumulated depreciation after taking into consideration the Lease Adjustment Amount.

E. Impairment of Fixed Assets:

Fixed Assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Whenever the carrying amount of an asset exceeds its recoverable amount, an impairment loss is recognized in the income statement for items of fixed assets carried at cost. However, in the opinion of the management, no provision is required for impairment of assets in the current year.

F. Depreciation:

a) On assets for own use:

Depreciation on assets for own use is provided on Written Down Value Method at the rates and in the manner prescribed in Schedule XIV to the Companies Act, 1956.

b) On assets given on lease:

Depreciation on assets given on lease upto 31 March, 1994 is consistently provided on Written Down Value Method and on assets given on lease from 1st April, 1994 has been provided on Straight Line Method at the rates prescribed in Schedule XIV to the Companies Act, 1956. Depreciation on leased assets depreciation has been provided upto the residual value of asset.

G. Investments:

a) All the Investments are classified as long-term investment based on intention of holding them for a period exceeding one year.

b) Long term investments have been valued at cost plus any incidental expenses thereto.

c) Provision for diminution in the value of investments is made to recognize a decline, other than the temporary fall in the value.

H. Stock-in-Trade:

Stock-in-Trade is valued script wise at Cost or Market price whichever is lower.

I. Gratuity & Other Retirement Benefit:

Liabilities for gratuity and leave encashment are provided for on an estimated basis instead of on the basis of actuarial valuation.


Mar 31, 2013

A System of Accounting:

The Company follows accrual system of accounting except in case of interest on allotment money in arrears and doubtful lease rental which is accounted as and when received.

B. Revenue Recognition:

(i) Lease Rentals are recognized as revenue over the lease period as per the terms of the lease agreements. Lease Equalisation Amount is computed in accordance with Guidance Note issued by ICAI.

(ii) Income is recognized in respect of Non-Performing Assets on receipt basis as per RBI Prudential Norms applicable to NBFC.

(iii) Profit / Loss on Sale of Investments is worked out on the basis of FIFO Method.

(iv) Interest income is recognized on time proportion basis.

C. Expenses:

(i) All expenses and income are accounted on accrual basis. (ii) As per the guidelines for Prudential Norms prescribed, the Company makes provision against Non-Performing Assets.

D. Fixed Assets:

Fixed Assets are stated at cost less accumulated depreciation after taking into consideration the Lease Adjustment Amount.

E. Impairment of Fixed Assets:

Fixed Assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Whenever the carrying amount of an asset exceeds its recoverable amount, an impairment loss is recognized in the income statement for items of fixed assets carried at cost. However, in the opinion of the management, no provision is required for impairment of assets in the current year.

F. Depreciation:

a) On assets for own use:

Depreciation on assets for own use is provided on Written Down Value Method at the rates and in the manner prescribed in Schedule XIV to the Companies Act, 1956.

b) On assets given on lease:

Depreciation on assets given on lease upto 31s March, 1994 is consistently provided on Written Down Value Method and on assets given on lease from 1st April, 1994 has been provided on Straight Line Method at the rates prescribed in Schedule XIV to the Companies Act, 1956. Depreciation on leased assets depreciation has been provided upto the residual value of asset.

G Investments:

a) All the Investments are classified as long-term investment based on intention of holding them for a period exceeding one year.

b) Long term investments have been valued at cost plus any incidental expenses thereto.

c) Provision for diminution in the value of investments is made to recognize a decline, other than the temporary fall in the value.

H. Stock-in-Trade:

Stock-in-Trade is valued scrip wise at Cost or Market price whichever is lower.

I. Gratuity & Other Retirement Benefit:

Liabilities for gratuity and leave encashment are provided for on an estimated basis instead of on the basis of actuarial valuation.


Mar 31, 2012

A System of Accounting:

The Company follows accrual system of accounting except in case of interest on allotment money in arrears which is accounted as and when received.

B. Revenue Recognition:

(i) Lease Rentals are recognized as revenue over the lease period as per the terms of the lease agreements. Lease Equalisation Amount is computed in accordance with Guidance Note issued by ICAI.

(ii) Income is recognized in respect of Non-Performing Assets on receipt basis as per RBI Prudential Norms applicable to NBFC.

(iii) Profit / Loss on Sale of Investments js worked out on the basis of FIFO Method.

(iv) Interest income is recognized on time proportion basis.

C. Expenses:

(i) All expenses and income are accounted on accrual basis.

(ii) As per the guidelines for Prudential Norms prescribed, the Company makes provision against Non-Performing Assets.

D. Fixed Assets:

Fixed Assets are stated at cost less accumulated depreciation after taking into consideration the Lease Adjustment Amount.

E Impairment of Fixed Assets:

Fixed Assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Whenever the carrying amount of an asset exceeds its recoverable amount, an impairment loss is recognized in the income statement for items of fixed assets carried at cost. However, in the opinion of the management, no provision is required for impairment of assets in the current year.

F. Depreciation:

a) On assets for own use:

Depreciation on assets for own use is provided on Written Down Value Method at the rates and in the manner prescribed in Schedule XIV to the Companies Act, 1956.

b) On assets given on lease:

Depreciation on assets given on lease upto 31s March, 1994 is consistently provided on Written Down Value Method and on assets given on lease from 1st April, 1994 has been provided on Straight Line Method at the rates prescribed in Schedule XIV to the Companies Act, 1956. Depreciation on leased assets depreciation has been provided upto the residual value of asset.

G Investments:

a) All the Investments are classified as long-term investment based on intention of holding them for a period exceeding one year.

b) Long term investments have been valued at cost plus any incidental expenses thereto.

c) Provision for diminution in the value of investments is made to recognize a decline, other than the temporary fall in the value.

H. StPcK-in-Tratie:

Stock-in-Trade is valued scrip wise at Cost or Market price whichever is lower.

I. Gratuity & Other Retirement Benefit:

Liabilities for gratuity and leave encashment are provided for on an estimated basis instead of on the basis of actuarial valuation.


Mar 31, 2011

A System of Accounting:

The Company follows accrual system of accounting except in case of interest on allotment money in arrears which is accounted as and when received.

B. Revenge Recognition:

(i) Lease Rentals are recognized as revenue over the lease period as per the terms of the lease agreements. Lease Equalisation Amount is computed in accordance with Guidance Note issued by ICAI.

(ii) Income is recognized in respect of Non-Performing Assets on receipt basis as per RBI Prudential Norms applicable to NBFC.

(iii) Profit / Loss on Sale of Investments is worked out on the basis of FIFO Method.

C. Expenses:

(i) It is the Company's policy to provide for all expenses on accrual basis. (ii) As per the guidelines for Prudential Norms prescribed, the Company makes provision against Non-Performing Assets.

D. Fixed Assets:

Fixed Assets are stated at cost less accumulated depreciation after taking into consideration the Lease Adjustment Amount.

E. Impairment of Fixed Assets:

Fixed Assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Whenever the carrying amount of an asset exceeds its recoverable amount, an impairment loss is recognized in the income statement for items of fixed assets carried at cost. However, in the opinion of the management, no provision is required for impairment of assets in the current year.

F. Pepreciatjon:

a) On assets for own use:

Depreciation on assets for own use is provided on Written Down Value Method at the rates and in the manner prescribed in Schedule XIV to the Companies Act, 1956.

b) On assets given on lease

Depreciation on assets given on lease upto 31st March, 1994 is consistently provided on Written Down Value Method and on assets given on lease from 1st April, 1994 has been provided on Straight Line Method at the rates prescribed in Schedule XIV to the Companies Act, 1956. Depreciation on leased assets has been provided upto the residual value of asset.

G Investments:

a) All the Investments are classified as long-term investment based on intention of holding them for a period exceeding one year.

b) Long term investments have been valued at cost plus any incidental expenses thereto.

c) Provision for diminution in the value of investments is made to recognize a decline, other than the temporary fall in the value.

H. Stock-in-Trade:

Stock-in-Trade is valued scrip wise at Cost or Market price whichever is lower.

I. Gratuity & Other Retirement Benefit:

Liabilities for gratuity and leave encashment are provided for, on an estimated basis instead of on the basis of actuarial valuation.


Mar 31, 2010

A. System of Accounting:

The Company follows accrual system of accounting except in case of interest on allotment money in arrears which is accounted as and when received.

B. Revenue Recognition:

(i) Lease Rentals are recognized as revenue over the lease period as per the terms of the lease agreements. Lease Equalisation Amount is computed in accordance with Guidance Note issued by ICAI.

(ii) Income is recognized in respect of Non-Performing Assets on receipt basis as per RBI Prudential Norms applicable to NBFC.

(iii) Profit / Loss on Sale of Investments is worked out on the basis of FIFO Method.

C. Expenses:

(i) It is the Companys policy to provide for all expenses on accrual basis.

(ii) As per the guidelines for Prudential Norms prescribed, the Company makes provision against Non-Performing Assets.

D. Fixed Assets.

Fixed Assets are stated at cost less accumulated depreciation after taking into consideration the Lease Adjustment Amount.

E Impairment of Fixed Assets:

Fixed Assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Whenever the carrying amount of an asset exceeds its recoverable amount, an impairment loss is recognized in the income statement for items of fixed assets carried at cost. However, in the opinion of the management, no provision is required for impairment of assets in the current year.

F. Depreciation:

a) On assets for own use:

Depreciation on assets for own use is provided on Written Down Value Method at the rates and in the manner prescribed in Schedule XIV to the Companies Act, 1956.

b) On assets given on lease

Depreciation on assets given on lease upto 31st March, 1994 is consistently provided on Written Down Value Method and on assets given on lease from 1st April, 1994 has been provided on Straight Line Method at the rates prescribed in Schedule XIV to the Companies Act, 1956. Depreciation on leased assets has been provided upto the residual value of asset.

G. Investments:

a) All the Investments are classified as long-term investment based on intention of holding them for a period exceeding one year.

b) Long term investments have been valued at cost plus any incidental expenses thereto.

c) Provision for diminution in the value of investments is made to recognize a decline, other than the temporary fall in the value.

H. Stock-in-Trade:

Stock-in-Trade is valued scrip wise at Cost or Market price whichever is lower.

I. Gratuity & Other Retirement Benefit:

Liabilities for gratuity and leave encashment are provided for, on an estimated basis instead of on the basis of actuarial valuation.