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Notes to Accounts of Atlanta Infrastructure and Finance Ltd.

Mar 31, 2014

1. SHARE CAPITAL

1.1 Pursuant to the approval of the members accorded by passing special resolution at extra ordinary general meeting held on January 18, 2014, each equity share of face value of Rs. 10/- each of the Company was sub-divided in to ten equity shares of face value of Rs. 1/- each fully paid up. The sub-division has been given effect as per the record date fixed by the Board of Directors i.e. March 18, 2014. Further, for the purpose of computing Earnings Per Share, the effect of sub-division had been considered in accordance with the requirements of Accounting Standard 20 "Earnings Per Share" in all comparable periods.

1.2 The Company issued 4,50,000 warrants convertible into equlal numbers of equity shares of Rs. 10/- each at premium of Rs. 20 each at the price of Rs. 30 each within period of 18 months from the date of allotment to Krishna Cap Shares Pvt. Ltd. vide board resolution dated 03.10.2012. The said 4,50,000 warrants are converted into 4,50,000 equity shaares of Rs. 10 each at premium of Rs. 20 each vide board resolution dated 20.12.2013.

2. MONEY RECEIVED AGAINST SHARE WARRANTS

25% Upfront money for preferendal issue of 4,50,000 warrants convertible into equal number of equity shares of Rs. 10 each at premium of Rs.20 each at the price of Rs.30 each within period of 18 months from date of allotment of warrants to Krishna Cap Shares Pvt. Ltd. vide board resolution passed in the meeting of Board of directors held on 03.10.2012.

3. FIXED ASSETS

3.1 The company had provided depreciation on written down value method (WDV) at the rates and in the manner prescribed in Schedule II to the Companies Act, 2013 so that the value of asset as on the reporting date shall comply with the transitory provisions contained in the said Schedule II.

4. LONG TERM LOAN & ADVANCES

4.1 Advance payments made by company for purchase of equity sahres. Amount outstanding for more than 12 months on the reporting date. External Confirmation of party for outstanding balance is not available. No interest charged on the advance payment made by the company.

5. INVENTORIES

5.1 Stock-in-trade comprises of equity shares of listed & unlisted companies and are valued at cost by following FIFO method valuation.

6. TRADE RECEIVABLES

6.1 Debts due by directors, officers or related parties is nil.

7. SHORT TERM LOAN & ADVANCES

7.1 Advances and loans to customers are interest bearing unsecured loans carrying rate of interest @ 9% per annum with few exceptions and are repayable on demand.

8. EMPLOYEE BENEFITS EXPENSE

8.1 In terms of Accounting Standard 15 ''Employee Benefits'', all the employee benefits granted by the company are in nature of Short-term employees benefits which fall due wholly within twelve months after the end of the period in which the employees render the related service. The company has recognised the undiscounted amount of short-term employee benefits expected to be paid in exchange for that service either as as a liability (accrued expense), after deducting any amount already paid or as an expense as the case may be. No specific disclosures are required for short-term employee benefits under the AS-15.

8.2 As informed to us, the assessee is not covered by the Provident Fund & other retirement benefits provisions.

9. EARNING PER SHARE (EPS)

(Equity shares of face value Rs. 10 each is sub-divided into equity share of face value Rs. 1 each during reporting period.)

10. EXPENDITURE IN FOREIGN CURRENCY

The company has not incurred any expenditure in foreign currency during the financial year on account of royalty, know-how, professional and consultation fees, interest, and other matters.

11. DIVIDEND REMITTANCE IN FOREIGN CURRENCY

The company has not declared any dividend during the financial year. Hence, the amount remitted during the year in foreign currencies on account of dividends is nil.

12. EARNINGS IN FOREIGN EXCHANGE

The company has not earned any income in foreign exchange during the financial year.

13. RELATED PARTY DISCLOSURES

As per Accounting Standard 18, the disclosures of transactions with the related parties as defined in the Accounting Standard are given below:

13.1 List of related parties where control exists and related parties with whom transactions have taken place and relationships:

Sr. No. Name of Related Party Relationship

1 Shailesh M. Ved Key Managerial Personnel

13.2 Disclosure in Respect of Material Party Transactions during the year:

1. Payment to Key management personnel include director salary to Shri Shailesh M. Ved Rs. 2,60,000 (Previous year Rs. 2,40,000).

14. SEGMENT REPORTING

The company has amended its main objects by incorporating new business segment - Infrastructure activities in addition to its existing NBFC operations of Investments in securities and financing during finacial year 2013-2014. Hence, the previous period comparables for segment revenue, results and capital employed are re-classified and re-casted to incorporate infrastructure activities as one of new business segment.

Business and Geographical Segments:

Business Segments: For Management purpose, the company is engaged in the primary business activities.

1. Activities of invenstments in shares and securities.

2. Activities of finacing.

3. Activities of Infrastructure investments.

These divisions are the basis on which the company reports its primary segment information.

Geographical Segments: The Company''s major operating divisions are managed on the Business segment basis. The company''s area of operations are at present limited to territory of India.

15. CONTINGENT LIABILITIES & COMMITMENT

As at 31.03.2014 As at 31.03.2013

CONTINGENT LIABILITIES

Claims against the company not acknowledged as debt - -

Guarantees - -

Other money for which the company is contingently liable - -

COMMITMENTS

Estimated amount of contracts remaining to be executed on capital account and not provided for - -

Uncalled liability on shares and other investments partly paid - -

Other commitments (specify nature) - -

TOTAL - -

16. ADDITIONAL INFORMATION

16.1 The balance of accounts grouped under the heads - current assets, loans & advances, bank balances and current liabilities are subject to confirmation.

16.2 In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value stated if realised in the ordinary course of business. In the opinion of the Board of directors, the provisions for all the liabilities are adequate and not in excess of the amounts considered reasonably necessary and there are no contingent liabilities outstanding on the balance sheet date.

16.3 The previous year''s figures have been reworked, regrouped, rearranged and reclassified wherever necessary. Amounts and other disclosures for the preceding year are included as an integral part of the current year finacial statements and are to be read in relation to the amounts and other disclosures relating to the current year.


Mar 31, 2013

1.1 in terms of Accounting Standard 15 ''Employee Benefits'', all the employee benefits granted by the company are in nature of Short-term employees benefits which fall due wholly within twelve months after the end of the period in which the employees render the related service. The company has recognised the undiscounted amount of short-term employee benefits expected to be paid in exchange for that service either as as a liability (accrued expense), after deducting any amount already paid or as an expense as the case may be. No specific disclosures are required for short-term employee benefits under the AS -15.

1.2 As informed to us, the assessee is not covered by the Provident Fund & other retirement benefits provisions.

2 EXPENDITURE IN FOREIGN CURRENCY

The company has not incurred any expenditure in foreign currency during the financial year on account of royalty, know-how, professional and consultation fees, interest, and other matters.

3 DIVIDEND REMITTANCE IN FOREIGH CURRENCY

The company has not declared any dividend during the financial year. Hence, the amount remitted during the year in foreigh currencies on account of dividends isinil.

4 EARNINGS IN FOREIGN EXCHANGE

The company has not earned any income in foreign exchange during the financial year.

5 RELATED PARTY DISCLOSURES

As per Accounting Standard 18, the disclosures of transactions with the related parties as defined in the Accounting Standard are given below:

5.1 List of related parties where control exists and related parties with whom transactions have taken place and relationships:

5.2 Disclosure in Respect of Material Related Party Transactions during the year:

1. Payment to Key management personnel include director salary to Shri Shailesh M. Ved Rs.2,40,000 (Previous year Rs.2,40,000).

6 SEGMENT REPORTING

The company is a Non-banking Finance Company and is engaged in the business of Finance and investments. The company has carried out only financial & investments activities during the year. It does not have different Business or Geographical Segments with different risks and returns. Hence,_disclosures required under AS 17 - Segment Reporting are not furnised here.


Mar 31, 2012

1.1 Advance payments made by company for purchase of equity shares. Amount outstanding for more than 12 months on the reporting date. No interest charged on the advance payment made by the company,

2.1 Advances and loans to customers are interest bearing unsecured loans carrying rate of interest p 9% per annum with few exceptions and are repayable on demand.

3.1 in terms of Accounting Standard 15 'Employee Benefits', alt the employee benefits granted by the company are in nature of Short-term employees benefits which fall due wholly within twelve months after the end of the period in which the employees render the related service. The company has recognised the undiscounted amount of short-term employee benefits expected to be paid in exchange for that service either as as a liability (accrued expense), after deducting any amount already paid or as an expense as the case may be. No specific disclosures are required for short-term employee benefits under the AS - 15.

3.2 As informed to us, the assessee is not covered by the Provident Fund &. other retirement benefits provisions.

4 EXPENDITURE IN FOREIGN CURRENCY

The company has not incurred any expenditure in foreign currency during the financial year on account of royalty, know-how, professional and consultation fees, interest, and other matters.

5 DIVIDEND REMITTANCE IN FOREIGH CURRENCY

The company has not declared any dividend during the financial year. Hence, the amount remitted during the year in foreigh currencies on account of dividends is nil.

6 EARNINGS IN FOREIGN EXCHANGE

The company has not earned any income in foreign exchange during the financial year.

7 RELATED PARTY DISCLOSURES

As per Accounting Standard 18, the disclosures of transactions with the related parties as defined in the Accounting Standard are given below:

7.1 Disclosure in Respect of Material Related Party Transactions during the year :

I. Payment to Key management personnel include to Shri Shailesh M, Ved Rs.2,40,000 (Previous year Rs.2,40,000).

8 SEGMENT REPORTING

The company is a Non-banking Finance Company and is engaged in the business of Finance and investments. The company has carried out only financial & investments activities during the year. It does not have different Business or Geographical Segments with different risks and returns. Hence, disclosures reautred under AS 17 - Seament Reoortina are not furntsed here.

9 CONTINGENT LIABILITIES & COMMITMENT As at 31.03.2012 As at 31.03.2011

CONTINGENT LIABILITIES

Claims against the company not acknowledged as debt - -

Guarantees - -

Other money for which the company is contingently liable - -

COMMITMENTS

Estimated amount of contracts remaining to be executed - - on capital account and not provided for

Uncalled liability on shares and other investments partly paid - -

Other commitments (specify nature) - -

TOTAL - -

10 ADDITIONAL INFORMATION

10.1 In the annual financial statements, the company has shown transactions in equity index and equity stock futures & option on net profit/loss basis. Detailed breakup of F & O Contracts purchased, sold & outstanding is given in the schedule - 6 forming part of Profit & Loss Statement. In the quarterly and year to date results filed with Stock Exchage, Mumbai, the transactions in F & O contracts are presented on gross basis.

10.2 The balance of accounts grouped under the heads - current assets, loans & advances, bank balances and current liabilities are subject to confirmation.

10.3 in the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value stated if realised in the ordinary course of business. In the opinion of the Board of directors, the provisions for all the liabilities are adequate and not in excess of the amounts considered reasonably necessary and there are no contingent liabilities outstanding on the balance sheet date.

10.4 The previous year's figures have been reworked, regrouped, rearranged and reclassified wherever necessary. Amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.


Mar 31, 2010

[1] The previous years figures have been reworked, regrouped, rearranged and reclassified wherever necessary. Amounts and other disclosures for the preceding year are included as an integral part of the. current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.

[2] In terms of Accounting Standard 15 Employee Benefits, all the employee benefits granted by the company are in nature of Short-term employees benefits which fall due wholly within twelve months after the end of the period in which the employees render the related service. The company has recognised the undiscounted amount of short-term employee benefits expected to be paid in exchange for that service either as as a liability (accrued expense), after deducting any amount already paid or as an expense as the case may be. No specific disclosures are required for short-term employee benefits under the AS-15.

[3] Deferred Tax:

The Company has made provision of Rs.44,425 for the current tax expense. No provision is made for the deferred tax for the current financial year.

[4] Related Party Disclosures:

As per Accounting Standard 18, the disclosures of transactions with the related parties as defined in the Accounting Standard are given below:

During the reporting period, the company bought more than one half of the equity shares of Chintamani Shares & Broking Ltd. All these shares are held as stock-in-trade and are acquired and held exclusively with a view to their subsequent disposal in the near future. The control is considered to be temporary in making financial and/or other operating decisions of related party.

Note: Figures in italic represent previous years transactions and balances. Disclosure in Respect of Material Related Party Transactions during the year:

1. Loans given during the year include Kadvani Forge Limited Rs.NIL (Previous year Rs.3,581), Kishor L. Kadvani Rs.2,84,712 (Previous year Rs.35,14,150), Ornate Ceramics Limited Rs.42,483 (Previous year Rs.21,12,242), Vanijya Enterprise Rs.86,910 (Previous year Rs.2,58,038). Loans retuned during the year from Kadvani Forge Limited Rs.NIL (Previous year Rs. 16,17,340), Kishor L. Kadvani Rs.10,00,000 (Previous year Rs.NIL), Ornate Ceramics Limited Rs.NIL (Previous year Rs.89,38,402).

2. Operating Income include interest income from Kadvani Forge Limited Rs.NIL (Previous year Rs.3,581), Kishor L. Kadvani Rs.2,84,712 (Previous year Rs.NIL), Ornate Ceramics Limited Rs.42,483 (Previous year Rs.5,12,242), Vanijya Enterprise Rs.86,910 (Previous year Rs.73,038).

3. Payment to Key management personnel include to Shri Ashok L. Kadvani Rs.NIL (Previous year Rs.3,20,000) and Shri Shailesh M. Ved Rs.2,40,000 (Previous year Rs.NIL).

4. Interest Expense include to Kadvani Chemicals Rs.NIL (Previous year Rs.5,157).

5. Purchase of 958,215 Equity Shares of Chintamani Shares & Broking Ltd. for Rs.75,00,000 (Previous year Rs.NIL) held as stock-in-trade. All the shares are acquired and held exclusively with a view to their subsequent disposal in the near future.

[6] The company is a Non-banking Finance Company and is engaged in the business of Finance and investments. The company has carried out only financial & investments activities during the year. It does not have different Business or Geographical Segments with different risks and returns. Hence, disclosures required under AS 17 - Segment Reporting are not furnised here.

[7] During the reporting period, the company has bought 958,215 equity shares of Chintamani Shares 8c Broking Limited, held as stock-in-trade in the physical form. The company has obtained delivery of shares in physical form and paid the consideration for the same. However, the shares have not been presented for registration of transfer in its own name during the reporting period.

[8] During the reporting period, the company bought more than one half of the equity shares of Chintamani Shares & Broking Ltd. All these shares are held as stock-in-trade and are acquired and held exclusively with a view to their subsequent disposal in the near future. Hence, as per ASI - 25 (Exclusion of a subsidiary from consolidation) to Accounting Standard 21 - Consolidated Financial Statements, the control is considered to be temporary within the meaning of paragraph 11(a) of AS - 21 and the subsidiary is excluded from consolidation. And as there are no other subsidiary company, consolidated financial statements for the reporting company has not been prepared.

(C) Contingent Liabilities

(i) Outstanding guarantees furnished to Banks and Financial Institutions including in respect of Letters of credit

(a) In respect of joint Ventures NIL NIL

(b) In respect of others NIL NIL

(if) Guarantees to Banks & Financial Institutions against credit facilities extended to third parties

(a) In respect of joint Ventures NIL NIL

(b) In respect of others NIL NIL

(iii) Liability in respect of bills discounted with Banks (Including third party bills discounting)

(a) In respect of joint Ventures NIL NIL

(b) In respect of others NIL NIL

(iv) Claims against the Company / disputed liabilities not acknowledged as debts

(a) In respect of joint Ventures NIL NIL

(b) In respect of others NIL NIL

(v) Performance Guarantees

(a) In respect of joint Ventures NIL NIL

(b) In respect of others NIL NIL

(D) The company has not entered into any Foreign Exchange transactions during the reporting period.

(E) As informed to us, the assessee is not covered by the Provident Fund & other retirement benefits provisions.

(F) From the information available with the company there were no outstanding dues to the small scale industries for a sum of Rs.l Lakh or more which were outstanding for more than 30 days.

(G) The balance of accounts grouped under the heads - current assets, loans & advances, bank balances and current liabilities are subject to confirmation.

(H)The opinion of the Board of Directors, the current assets, loans and advances are approximately of the value stated if realised in the ordinary course of business. In the opinion of the Board of directors, the provisions for all the liabilities are adequate and not in excess of the amounts considered reasonably necessary and there are no contingent liabilities outstanding on the balance sheet date.


Mar 31, 2009

[1] The previous years figures have been reworked, regrouped, rearranged and reclassified wherever necessary. Amounts and other disclosures for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.

[2] In terms of Accounting Standard 15 Employee Benefits, all the employee benefits granted by the company are in nature of Short-term employees benefits which fall due wholly within twelve months after the end of the period in which the employees render the related service. The company has recognised the undiscounted amount of short-term employee benefits expected to be paid in exchange for that service either as as a liability (accrued expense), after deducting any amount already paid or as an expense as the case may be. No specific disclosures are required for short-term employee benefits under the AS -15.

[5] Deferred Tax:

The Company has made provision of Rs.2,001 for the current tax and Rs.488 for the frienge benefit tax expense. No provision is made for the deferred tax for the current financial year.

[7] Related Party Disclosures:

As per Accounting Standard 18, the disclosures of transactions with the related parties as defined in the Accounting Standard are given below:

(i) List of related parties where control exists and related parties with whom transactions have taken place and relationships:

Sr. No. Name of the Related Party Relationship

1 Kadvani Forge Limited

2 Kadvani Chemicals

3 Ornate Ceramic Limited Associates

4 Vanijya Enterprise

5 Kishor L. Kadavani Key Managerial Personnel 6 Ashok L. Kadvani

[9] The company is a Non-banking Finance Company and is engaged in the business of Finance and investments. The company has carried out only financial & investments activities during the year. It does not have different Business or Geographical Segments with different risks and returns. Hence, disclosures required under AS 17 - Segment Reporting are not furnised here.

[10] Additional Information As at As at 31.03.09 31.03.08

(C) Contingent Liabilities

(i) Outstanding guarantees furnished to Banks and Financial Institutions including in respect of Letters of credit

(a) In respect of joint Ventures NIL NIL

(b) In respect of others NIL NIL

(D) The company has not entered into any Foreign Exchange transactions during the reporting period.

(E) As informed to us, the assessee is not covered by the Provident Fund & other retirement benefits provisions.

(F) From the information available with the company there were no outstanding dues to the small scale industries for a sum of Rs.l Lakh or more which were outstanding for more than 30 days.

(G) The balance of accounts grouped under the heads - current assets, loans & advances, bank balances and current liabilities are subject to confirmation.

(H) In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value stated if realised in the ordinary course of business. In the opinion of the Board of directors, the provisions for all the liabilities are adequate and not in excess of the amounts considered reasonably necessary and there are no contingent liabilities outstanding on the balance sheet date.

 
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