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Notes to Accounts of Apollo Finvest (India) Ltd.

Mar 31, 2014

1) Contingent Liabilities not provided for: Year ended Year ended 31.3.2014 31.3.2013 (Rs. in Lacs.) (Rs. in Lacs.)

Demand raised by Income Tax department against which the Company has preferred an appeal 145.57 145.57

2) Balances of sundry debtors, sundry creditors and loans and advances are subject to confirmation and reconciliation if any.

3) The Company''s main business is financing, investment in shares / debentures, investment in mutual funds, investment in properties etc. and all the activities of the Company are related to its main business. As such there are no separate reportable segments as defined by Accounting Standard-17 on "Segment Reporting".

4) Related Party Information pursuant to AS-18: i) Relationships

a) Where control exists

Anju R. Innani - Managing Director,

Estate of Late Shri Ramesh R Innani - Husband of Managing Director,

Ramesh R. Innani HUF - Karta Anju R. Innani (Managing Director)

Mikhil R. Innani - Son of Managing Director,

b) Key Management Personnel

Anju R. Innani Managing Director

Umanath R. Agarwal Executive Director

5) Pursuant to Accounting Standard-22 issued by the Institute of Chartered Accountants of India, current tax is determined at the amount of tax payable in respect of estimated taxable income of the year. Deferred Tax resulting from ''timing difference'' between book and taxable profit for the year is accounted for using the tax rates and laws that have been enacted on the balance sheet date. Deferred Tax Asset has not been recognized due to uncertainty of future profit. The working of the same is as under:-

6) Estimated amounts of contracts remaining to be executed (Net of Advances) Rs 1,76,44,050/ - (Previous Year Rs. 1,80,75,173/-)

7) Other informations pursuant to the provisions paragraph 3, 4C and 4D of Part II of Schedule VI to the Companies Act, 1956 are not applicable.

8) Figures are rounded off to the nearest rupee and previous years figures are regrouped and rearranged wherever necessary.


Mar 31, 2013

1) (a) The Company has made Provision for Diminution in value of Long Term Investment of Rs. 1,44,76,374/- (Previous Year Rs. 1,63,87,787/-).

(b) Company has made provision for NPA assets as per RBI Prudential Norms as applicable to NBFC amounting to Rs. 8,00,273/- (Previous year Rs.8,00,273/-).

2) Balances of sundry debtors, sundry creditors and loans and advances are subject to confirmation and reconciliation if any.

3) The Company''s main business is financing, investment in shares / debentures, investment in mutual funds, investment in properties etc. and all the activities of the Company are related to its main business. As such there are no separate reportable segments as defined by Accounting Standard-17 on "Segment Reporting".

4) Related Party Information pursuant to AS-18: i) Relationships

a) Where control exists

Anju R. Innani - Managing Director,

Estate of Late Shri Ramesh R Innani - Husband of Managing Director, Ramesh R. Innani HUF - Karta Anju R. Innani (Managing Director) Mikhil R. Innani - Son of Managing Director,

5) Estimated amounts of contracts remaining to be executed (Net of Advances) Rs 1,80,75,173/- (Previous Year Rs. 3,31,70,597/-)

6) Other informations pursuant to the provisions paragraph 3, 4C and 4D of Part II of Schedule VI to the Companies Act, 1956 are not applicable.

7) Figures are rounded off to the nearest rupee and previous years figures are regrouped and rearranged wherever necessary.


Mar 31, 2012

1) Contingent Liabilities not provided for: Year ended Year ended 31.3.2012 31.3.2011

(Rs. in Lacs.) (Rs. in Lacs.)

i) Allotment/Call Money payable 15.97 15.97

ii) Demand raised by Income Tax department against which the Company has preferred an appeal 145.57 123.47

2) Directors' Remuneration:

Salary 36.18 34.24

Perquisites 0.30 0.30

3) Details of Auditors' Remuneration:

(a) Statutory Audit Fees 0.98 0.80

(b) Taxation Matters 2.01 1.87

4) (a) The Company has made Provision for Diminution in value of Long Term Investment of Rs. 1,63,87,287/- (Previous Year Rs. 1,39,97,172 /-).

(b) Company has made provision for NPA assets as per RBI Prudential Norms as applicable to NBFC amounting to Rs. 8,00,273/- (Previous year Rs.45,17,997/-).

(c) Loss on lease adjustment of Rs. 32,43,492/- has been adjusted against excess provision for NPA and balance amount has been written back during the year.

5) Balances of sundry debtors, sundry creditors and loans and advances are subject to confirmation and reconciliation if any.

6) The Company's main business is financing, investment in shares / debentures, investment in mutual funds, investment in properties etc. and all the activities of the Company are related to its main business. As such there are no separate reportable segments as defined by Accounting Standard- 17 on "Segment Reporting".

7) Related Party Information pursuant to AS-18: i) Relationships

a) Where control exists

Anju R. Innani - Managing Director,

Estate of Late Shri Ramesh R Innani - Husband of Managing Director,

Ramesh R. Innani HUF - Karta Anju R. Innani (Managing Director)

Mikhil R. Innani - Son of Managing Director,

8) Pursuant to Accounting Standard-22 issued by the Institute of Chartered Accountants of India, current tax is determined at the amount of tax payable in respect of estimated taxable income of the year. Deferred Tax resulting from 'timing difference' between book and taxable profit for the year is accounted for using the tax rates and laws that have been enacted on the balance sheet date. During the year the company has written back deferred tax liability as on 31st March 2012 amounting to Rs. 14,71,036/- .Deferred Tax Asset has not been recognized due to uncertainty of future profit. The working of the same is as under:-

9) Estimated amounts of contracts remaining to be executed (Net of Advances) Rs. 3,31,70,597/- (Previous Year Rs. 3,84,47,895/-)

10) Other informations pursuant to the provisions paragraph 3, 4C and 4D of Part II of Schedule VI to the Companies Act, 1956 are not applicable.

11) Figures are rounded off to the nearest rupee and previous years figures are regrouped and rearranged wherever necessary.


Mar 31, 2011

1) Contingent Liabilities not provided for:

Year ended Year ended 31.3.2011 31.3.2010 (Rs. in Lacs.) (Rs. in Lacs.)

i) Allotment/Call Money payable 15.97 15.97

ii) Demand raised by Income Tax department against which the Company has preferred an appeal 123.47 76.56

iii) Estimated amount of contract remaining to be remaining to be executed on capital account and not provided for Nil 10.07

2) (a) The Company has made Provision for Diminution in value of Long Term Investment of Rs. 1,39,97,172/- (Previous Year Rs. 2,26,29,171/-).

(b) Company has made provision for NPA assets as per RBI Prudential Norms as applicable to NBFC amounting to Rs. 45,17,997/- (Previous year Rs. 49,98,771/-).

3) Balances of sundry debtors, sundry creditors and loans and advances are subject to confirmation and reconciliation if any.

4) Sundry creditors do not include any amount payable to SSI Units.

5) The Company's main business is financing, investment in shares / debentures, investment in mutual funds, investment in properties etc. and all the activities of the Company are related to its main business. As such there are no separate reportable segments as defined by Accounting Standard- 17 on "Segment Reporting".

6) Related Party Information:- i) Relationships

a) Where control exists Anju R. Innani - Managing Director, Estate of Late Shri Ramesh R Innani - Husband of Managing Director, Ramesh R. Innani HUF - HUF of Managing Director, Mikhil R. Innani - Son of Managing Director,

b) Key Management Personnel

Anju R. Innani Managing Director

Umanath R. Agarwal Executive Director

Narayan T. Rathi Director

Sandeep Maheshwari Director

7) Other information's pursuant to the provisions paragraph 3, 4C and 4D of Part II of Schedule VI to the Companies Act, 1956 are not applicable.

8) Figures are rounded off to the nearest rupee and previous years figures are regrouped and rearranged wherever necessary.


Mar 31, 2010

1) Contingent Liabilities & Provisions for:

Year ended Year ended 31.3.2010 31.3.2009 (Rs. in Lacs.) (Rs. in Lacs.)

i) Allotment/Call Money payable 15.97 15.97

ii) Demand raised by Income Tax department against which the Company has preferred an appeal 76.56 45.86

iii) Estimated amount of contract remaining to be remaining to be executed on capital account and not provided for Nil 10.07

2) (a) The Company has made Provision for Diminution in value of Long Term Investment of Rs. 2,26,29,171/- (Previous Year Rs. 4,55,71,356/-). (b) Company has made provision for NPA assets as per RBI Prudential Norms as applicable to NBFC. Accordingly, Company has made provision of Rs. 49,98,771/- (Previous Year Rs 49,98,771/-).

3) Balances of sundry debtors, sundry creditors and loans and advances are subject to confirmation and reconciliation if any.

4) Sundry creditors do not include any amount payable to SSI Units.

5) Company does not have a full time Company Secretary as it has not been able to find a suitable person looking to the size of the Company. However, Company has assigned a secretarial work to a practicing Company Secretary.

6) The Companys main business is financing and all the activities of the Company are related to its main business. As such there are no separate reportable segments as defined by Accounting Standard-17 on "Segment Reporting".

7) Related Party Information:

i) Relationships:

a) Where control exists

Anju R. Innani - Managing Director,

Estate of Late Shri Ramesh R Innani - Husband of Managing Director,

Ramesh R. Innani HUF - HUF of Managing Director,

Mikhil R. Innani - Son of Managing Director.

8) Other informations pursuant to the provisions paragraph 3, 4C and 4D of Part II of Schedule VI to the Companies Act, 1956 are not applicable.

9) Figures are rounded off to the nearest rupee and previous years figures are regrouped and rearranged wherever necessary.

 
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