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Notes to Accounts of Avonmore Capital & Management Services Ltd.

Mar 31, 2015

(Amounts in Indian Rupees)

1. Contingent Liabilities

Particulars As at As at 31 March 2015 31 March 2014

Corporate Guarantee 27,50,00,000 25,50,00,000

(issued in favour of Almondz Global Securities Limited to Axis Bank Limited)

2. Gratuity and Leave benefit plans: (AS 15 Revised)

The company has a defined benefit gratuity plan. The present value of obligation is determined based on actuarial valuation using the projected unit method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation of leave encashment is recognized in the same manner as gratuity.

3. Segment Reporting

a) Primary Business Segments: The Company's business segments have been classified as above. This business segregation forms the basis for review of operating performance by the management.

b) Fees and Commission activities comprises of broking /commission /underwriting /arranger fees mainly in the nature of services involving no or negligible financial risk.

c) Income from Investments and trading comprises of dividend received on shares, interest on Fixed Deposits, Profit on trading activities, Profit on sale of Investment & Interest on loan.

d) The accounting policies of the segments are the same, to the extent possible, as those described in the summary of significant accounting policies as referred to in Note '1' to the accounts.

4. Related Party Disclosures

Names of related parties & description of relationship:

(i) Subsidiaries

(Entities with which control relationship exists)

a) M/s Almondz Infosystem Private Limited

b) M/s North Square Projects Private Limited (till 31 May 2014)

c) M/s Express Infra financial Consultancy Services Private Limited

d) M/s Latitude 23 Communication Limited

e) M/s Almondz Insurance Brokers Private Limited

f) M/s Almondz Re-Insurance Brokers Private Limited

g) M/s Avonmore Developers Private Limited

h) M/s Shivsathi Niketan Limited

i) M/s Apricot Infosoft Private Limited

j) M/s Anemone Holdings Private Limited

k) M/s Glow Apparels Private Limited

(ii) Associates

a) M/s Almondz Global Securities Limited

b) M/s Almondz Finanz Limited

c) M/s Almondz Commodities Private Limited

d) M/s Innovative Money Matters Private Limited

e) M/s Shivaz Spas & Hospitality Private Limited

f) M/s Yug Infrastructure Private Limited

(iii) Key Managerial Personnel

a) Mr. Ashok Kumar Gupta - Managing Director

b) Mr. Kunal Madaan - Company Secretary (w.e.f. 5 December, 2014)

c) Ms. Shruti Aggarwal - CFO

d) Ms. Reema Sachdeva - Company Secretary (till 30 September, 2014)

Transactions during the year and balances outstanding as at the year-end in respect of transactions entered into during the year with the related parties.

5. The Ministry of Micro, Small and Medium Enterprises has issued an Office Memorandum dated 26 August 2008 which recommends that Micro and Small Enterprises should mention in their correspondence with their customers the Entrepreneurs Memorandum number as allocated after filing of the Memorandum. Based on information received and available with the Company, there are no amounts payable to Micro and Small Enterprises as at 31 March 2015.


Mar 31, 2014

1 Contingent Liabilities

Particulars As at As at 31 March 2014 31 March 2013

Corporate Guarantee 255,000,000 255,000,000 (issued in favour of Almondz Global Securities Limited to Axis Bank Limited)

1.16 The Ministry of Micro, Small and Medium Enterprises has issued an Office Memorandum dated 26 August 2008 which recommends that Micro and Small Enterprises should mention in their correspondence with their customers the Entrepreneurs Memorandum number as allocated after filing of the Memorandum. Based on information received and available with the Company, there are no amounts payable to Micro and Small Enterprises as at 31 March 2014.


Mar 31, 2013

1.1 Contingent Liabilities

Particulars As at As at 31 March 2013 31 March 2012

Corporate Guarantee 255,000,000 305,000,000

(issued in favour of Almondz Global Securities Limited to Axis Bank Limited)

1.2 Gratuity and Leave benefit plans: (AS 15 Revised)

The company has a defined benefit gratuity plan. The present value of obligation is determined based on actuarial valuation using the projected unit method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation of leave encashment is recognized in the same manner as gratuity.

The estimates of future salary increase considered in actuarial valuation after taking into account the inflation, seniority, promotion and other relevant factors such as demand in the employment market.

Actuarial Assumptions

* Withdrawal Rates: 1% Age related 10% Service Related

Liability in respect of leave encashment at the end of the current year amounts to Rs. 67,337/-

Previous year figures are indicated in brackets (—).

a) Primary Business Segments : The Company''s business segments have been classified as above. This business segregation forms the basis for review of operating performance by the management.

b) Fees and Commission activities comprises of broking/commission/underwriting/arranger fees mainly in the nature of services involving no or negligible financial risk.

c) Income from Investments and trading comprises of dividend received on shares, interest on Fixed Deposits, Profit on trading activities, Profit on sale of Investment & Interest on loan.

d) The accounting policies of the segments are the same, to the extent possible, as those described in the summary of significant accounting policies as referred to in Note ''1'' to the accounts.

1.3 Related Party Disclosures

Names of related parties & description of relationship :

(i) Subsidiaries :

(Entities with which control relationship exists)

a) M/s. Almondz Infosystem Private Limited (w.e.f. 31st December 2012)

b) M/s. North Square Projects Private Limited (w.e.f. 6th August 2012)

c) M/s. Skiffle Healthcare Services Private Limited (Till 14th February 2013)

d) M/s Moon Orchid Housing Private Limited (Till 20th April 2012)

e) M/s Meadow Real Estate Private Limited (Till 7th April 2012)

ii) Associates:

a) M/s Almondz Global Securities Ltd.

b) M/s Almondz Insurance Brokers Pvt. Ltd.

c) M/s Almondz Finanz Limited

d) M/s Almondz Commodities Pvt. Ltd.

e) M/s Innovative Money Matters Pvt. Ltd.

f) M/s Shivaz Spas & Hospitality Pvt. Ltd.

iii) Key Managerial Personnel :

a) Mr. Ashok Kumar Gupta - Managing Director

(i) Previous year figures are indicated in brackets (—).

1.4 The Ministry of Micro, Small and Medium Enterprises has issued an Office Memorandum dated 26 August 2008 which recommends that Micro and Small Enterprises should mention in their correspondence with their customers the Entrepreneurs Memorandum number as allocated after filing of the Memorandum. Based on information received and available with the Company, there are no amounts payable to Micro and Small Enterprises as at 31 March 2013.


Mar 31, 2012

1.1 Corporate Guarantee issued in favour of Axis Bank Limited for Rs. 30,50,00,000/- for various bank limits granted to Almondz Global Securities Limited.

1.2 Gratuity and Leave benefit plans: (AS 15 Revised)

The company has a defined benefit gratuity plan. The present value of obligation is determined based on actuarial valuation using the projected unit method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation of leave encashment is recognized in the same manner as gratuity.

a) Primary Business Segments: The Company's business segments have been classified as above. This business segregation forms the basis for review of operating performance by the management.

b) Fees and Commission activities comprises of broking/ commission/ underwriting/ arranger fees mainly in the nature of services involving no or negligible financial risk.

c) Income from Investments and trading comprises of dividend received on shares, interest on Fixed Deposits, Profit on trading activities, Profit on sale of Investment & Interest on loan.

d) The accounting policies of the segments are the same, to the extent possible, as those described in the summary of significant accounting policies as referred to in Note '1' to the accounts

1.3 Related Party Disclosures

Names of related parties & description of relationship :

(i) Subsidiaries :

(Entities with which control relationship exists)

a) M/s Moon Orchid Housing Private Limited

b) M/s Meadow Real Estate Private Limited

ii) Associates:

a) M/s Almondz Global Securities Ltd.

b) M/s Almondz Insurance Brokers Pvt. Ltd.

c) M/s Almondz Finanz Limited

d) M/s Almondz Commodities Pvt. Ltd.

e) M/s Innovative Money Matters Pvt. Ltd.

f) M/s Shivaz Spas & Hospitality Pvt. Ltd.

iii) Key Managerial Personnel :

a) Mr. Ramesh Peer- Managing Director (Till 07th October 2011)

b) Mr. Ashok Kumar Gupta - Managing Director (From 31st December 2011)

1.4 The Ministry of Micro, Small and Medium Enterprises has issued an Office Memorandum dated 26 August 2008 which recommends that Micro and Small Enterprises should mention in their correspondence with their customers the Entrepreneurs Memorandum number as allocated after filing of the Memorandum. Based on information received and available with the Company, there are no amounts payable to Micro and Small Enterprises as at 31 March 2012.

 
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