Mar 31, 2015
1. CONTINGENT LIABILITY & CAPITAL COMMITMENT:
2014-2015 2013-2014
Amount in Amount in
Rs. Rs.
Contingent Liabilities not provided for* 7,74,50,120 6,58,17,580
Capital Commitment not provided for NIL NIL
Others NIL NIL
*The demand was raised by the jurisdictional assessing officer of the
Income Tax Authorities u/s 143(3) of the Income Tax Act, 1961 for the
Assessment Year 2011-12. The management feels that demand raised is
likely to be either deleted or substantially reduced. Also, the company
has filed an appeal and deposited tax of Rs. 1,50,00,00 in response to
the demand raised by the assessing officer and accordingly no provision
is considered.
2. EARNING PER SHARE:
Earnings per Share, as required by the Accounting Standard 20- "Earning
Per Share" issued by the Institute of Chartered Accountants of India,
is given below:
Particulars 2014-15 2013-14
Amount in Rs. Amount in Rs.
Net profit for the period
attributable to Equity
Shareholders (Rs.) (1,91,04,588) 3,27,730
Weighted Average No of Equity 11.37.60.000 11,37,60,000
shares outstanding for
Basic Earnings per share
Weighted Average No. of Equity 11.37.60.000 11,37,60,000
shares outstanding for
Diluted earnings per share
Basic Earning Per Shares (0.168) 0.003
(face value of Rs. 1/-each ) (Rs)
Diluted earnings per share
(face valued of Rs.1/-each) (Rs) (0.168) 0.003
3. RELATED PARTY TRANSACTION:
List of Related Parties:-
a) Key Management personnel :-
i) Giriraj Kishor Agrawal
b) Relatives of Key Management Personnel
i) Girraj Kishor Agarwal HUF
ii) Tanu Agarwal
iii) Saloni Agarwal
c) Related parties over which Key Management personnel have significant
influence :-
i) Agrawal Bullion Limited (Formerly known as Kayaguru Health Solutions
Limited)
ii) Axon Finance Limited (Formerly known as Axon Infotech Limited)
iii) Five X finance & Investment Ltd
iv) Handful Investrade Pvt Ltd
v) Kayaguru Capital Market Private Limited
vi) Rockon Capital Market Private Limited
vii) Rockon Fintech Limited
viii) Shree Nath Commercial & Finance Ltd
ix) Tilak Finance Limited (Formerly known as Out of City Travel
Solutions Limited)
4. MAJOR COMPONENTS OF DEFERRED TAX LIABILITIES:
PARTICULARSI 2014-2015 2013-2014
Amount in Rs. Amount in Rs.
Deferred Tax Asset on Account
of Carry Forward Losses NIL 4,03,365
Deferred Tax Asset /
(Liability) on Account
of Depreciation 1,22,315 (2,48,462)
Deferred Tax Assets 1,22,315 1,54,903
5. INCOME IN FOREIGN CURRENCY:
PAR.TICULARS 2014-2015 2013-2014
Amount in Rs. Amount in Rs.
Income in foreign currency NIL NIL
6. EXPENDITURE IN FOREIGN CURRENCY:
PARTICULARS 2014-2015 2013-2014
Amount in Rs. Amount in Rs.
Expenditure in Foreign Currency NIL NIL
7. PRUDENTIAL NORMS OF NBFC:
i. Majority of the loans given are demand loans, therefore in some
cases the terms of repayment including interest and loan agreement
including KYC documents etc are not available. Demand and other loans
given are governed by the Board policies. Considering the close
monitoring of Board no appraisal, renewal, Policies, Procedure,
Committee or documents have been prescribed and executed.
ii. In view of the management all the loans outstanding are considered
good and therefore provision on Non- Performing Assets not provided.
iii. Pre and post sanction generally accepted procedures are not in
place.
iv. Provision on standard assets @ 0.25% is yet to be provided.
8. As per information available with the Company, none of the
creditors has confirmed that they are registered under the Micro, Small
and Medium enterprises Development Act, 2006.
9. As the intention is to hold the unquoted securities for sale in
short term and in absence of flow of periodic data, absence of
liquidity and market related data closing stock of unquoted shares are
valued at cost.
10. The Full time Company Secretary of the Company has resigned on 7th
February, 2015. However, no one has been appointed till the date of
signing the Balance sheet.
11. The company does not have Internal Auditors for conduct of
Internal Audit.
12. Trade Receivable, Trade Payable, Borrowings and Loans and Advances
balances are subject to confirmation and reconciliation.
13. Segment Information: The Company is engaged in single segment and
there are no separate reportable segments as defined in AS-17.
14. Previous year's figures have been regrouped, rearranged and
reclassified wherever necessary to conform to the current's
classification/ presentation.
Mar 31, 2014
1. Employee benefits
Provision for retirement benefits to employees was not provided on
accrual basis, which is not in conformity with Accounting Standard-15
issued by ICAI and the amount has not been quantified because actuarial
valuation report is not available. However, in the opinion of the
management the amount involved is negligible and has no material impact
on the Profit & Loss Account
2. Income in Foreign Currency NIL
3. Expenditure in Foreign Currency NIL
4. As per information available with the Company, none of the
creditors has confirmed that they are registered under the Micro, Small
and Medium enterprises Development Act, 2006.
5. Trade Receivable, Trade Payable, Short Term Borrowings and Short
Term Loans and Advances balances are subject to confirmation and
reconciliation.
6. Segment Information: The Company is engaged in single segment and
there are no separate reportable segments as defined in AS-17.
7. Previous year''s figures have been regrouped, rearranged and
reclassified wherever necessary to conform to the current''s
classification/ presentation.
Mar 31, 2013
1. Employee benefits
Provision for retirement benefits to employees was not provided on
accrual basis, which is not in conformity with Accounting Standard-15
issued by ICAI and the amount has not been quantified because actuarial
valuation report is not available. However, in the opinion of the
management the amount involved is negligible and has no material impact
on the Profit & Loss Account.
2. CONTINGENT LIABILITY:
2012-2013 2011-2012
Amount in Rs. Amount in Rs.
Contingent Liabilities
not provided for '' NIL NIL
Others NIL NIL
3. RELATED PARTY TRANSACTION:
List of Related Parties:-
a) Key Management person :-
i) Giriraj Kishor Agrawal ii) Tanu Agrawal iii) Saloni Agrawal
b) Related parties over which Key Management personnel have significant
influence :-
i) Axon Infotech Ltd.
ii) Shree Nath Commercial & Finance Ltd
iii) Rockon Fintech Limited
iv) Out of City Travel Solutions Ltd
v) Five X finance & Investment Ltd
vi) Kayaguru Health Solutions Limited
vii) Handful Investrade Pvt Ltd
viii) Girraj Kishor Agrawal HUF
4. Income in Foreign Currency NIL [^"nilt|
5. Expenditure in Foreign Currency NIL
6. As per information available with the Company, none of the
creditors has confirmed that they are registered under the Micro, Small
and Medium.enterprises Development Act, 2006.
7. Trade Receivable, Trade Payable, Short Term Borrowings and Short
Term Loans and Advances balances are subject to confirmation and
reconciliation.
8. Segment Information: The Company is engaged in single segment and
there are no separate reportable segments as defined in AS-17.
9. Previous year''s figures have been regrouped, rearranged and
reclassified wherever necessary to conform to the current''s
classification/ presentation.
Mar 31, 2012
1 The financial statements for the year ended 31st March, 2011 had
been prepared as per the then applicable, pre-revised Schedule VI to
the Companies Act, 1956. Consequent to the notification of Revised
Schedule VI under the Companies Act, 1956, the financial statements for
the year ended 31st March,2012 are prepared as per Revised Schedule VI.
Accordingly, the previous year figures have been reclassified to
conform to this year's classification. The adoption of Revised Schedule
VI for previous year figures does not impact recognition and
measurement principles followed for preparation of financial statements
except for accounting for dividend on investments in subsidiaries.
2. Contingent Liabilities not provided for:
Particulars : 2011-2012 2010-2011
[Rs] [Rs.]
Claims against the company not
acknowledged as debts NIL NIL
Others NIL NIL
3. Balances of* Loans and Advances, Sundry Creditors are subject to
confirmation and reconciliation and consequential adjustments, if any.
4. In the opinion of the Board & to the best of their knowledge &
belief the value of realization of current assets, loans & advances in
the ordinary course of business would not be less than the amount at
which they are stated in the Balance Sheet & the provisions for all the
loans & determined liabilities is adequate and not in excess of the
amount.
5. Related Party Transaction :
List of Related Parties:
(i) Kev Management person
- G.K. Agrawal
- Tanu Agrawal
(ii) Associates
- Five X Finance & Investment Ltd
- Out of City Travel Solutions Pvt Ltd
- Shree Nath Commercial & Finance Ltd.
- Rockon Fintech Ltd -
. Kayaguru Health Solutons Ltd.
- Handfu-l Investrade Pvt. Ltd
- Axon InfoTech Ltd
- Kayaguru Insurance Broker Pvt Ltd
- Kayaguru Wellness Pvt Ltd
As per information available with the Company, none of the creditors
has confirmed that they are registered under the Micro, Small and
Medium enterprises Development Act, 2006. The company has no dues to
Micro, Small and Medium Enterprises during the year ended March 31st,
2012 and March 31st 2011.
6. Segment Information :
The Company is engaged in single segment and there are no separate
reportable segments as defined in AS-17.
7. Previous year's figures have been regrouped, rearranged and
reclassified wherever necessary to conform to the current's
classification/ presentation.
Mar 31, 2011
*Excluding Service Tax
1. Contingent Liabilities not provided for :
2010-2011 2009-2010
(Rs.) (Rs.)
Claims against the company not
acknowledged as debts NIL NIL
Others NIL NIL
2. Balances of Loans and Advances, Sundry Creditors are subject to
confirmation and reconciliation and consequential adjustments, if any.
3. In the opinion of the Board & to the best of their knowledge &
belief the value of realisation of current assets, loans & advances in
the ordinary course of business would not be less than the amount at
which they are stated in the Balance Sheet & the provisions for all the
loans & determined liabilities is adequate and not in excess of the
amount.
4. Related Party Transaction : List of Related Parties:
Key Management person
G.K. Agrawal Tanu Agrawal
Associate
Axon Infotech Ltd.
Tilak Finance Ltd.
Shree Nath Commercial & Finance Ltd.
Rockon Fintech Ltd.
Kayagu Health Solutons Pvt. Ltd.
Handful Investrade P. Ltd.
5. Balance Sheet Abstract & Company's general business profiles as
required by part IV of Schedule VI to the Companies Act, 1956 are
enclosed.
6. As per information available with the Company, none of the
creditors has confirmed that they are registered under the Micro, Small
and Medium enterprises Development Act, 2006.
The company has no dues to Micro, Small and Medium Enterprises during
the year ended March 31st, 2011 and March 31st 2010.
7. Segment Information:
The Company is engaged in single segment and there are no separate
reportable segments as defined in AS-17.
8. Previous year's figures have been regrouped, rearranged and
reclassified wherever necessary to conform to the current's
classification/ presentation.
Mar 31, 2010
1. Balances under Unsecured Loans, Sundry Debtors, Sundry Creditors,
Loans and Advances are subject to confirmation from the parties
2. Since the Company is not a manufacturing Company, the requirement
under Clause 4-C of part II to Schooke VI to the Companies Act, 1956
does not apply.
3. Accounting Standard (AS-22) on Accounting of Taxes on Income issued
by the Institute of Chartered Accountants of India (ICAI) :
The timing difference relating mainly to Unabsorbed Depreciation /
Business Loss for the earlier years have resulted in net Deferred Tax
Asset/Liability for the year which has not been recognised in the
accounts as prudent policy-
4. As per Accounting Standard 18 (AS-18) on Related party disclosures
issued by the Institute of Chartered Accountants of India, the
disclosure of transactions with the related party as defined in the
Accounting Standard are given below ;
5. Previous Year figures have been regrouped/rearranged wherever
necessary