Mar 31, 2014
1. Earnings per share
The basic earnings per equity share are computed by dividing the net
profit attributable to the equity shareholders for the reporting period
by the weighted average number of equity shares outstanding during the
reporting period.
The number of shares used in computing diluted earnings per share
comprises the weighted average number of shares considered for deriving
basic earnings per share and also the weighted average number of equity
shares, which may be issued on the conversion of all dilutive potential
shares, unless the results would be anti dilutive.
2. Contingent liabilities not provided for in respect of:
The details of the suit filed against
the company pending for disposal is as under: (Amount in lacs)
1. Income Tax Authority Matter pending Filed Appeal against
before CIT Appeal the Demand Raised
for Rs.63.24 lacs.
2. Income Tax Authority Matter pending Filed Appeal against
before ITAT- B. the Demand Raised
for Rs.7.24 lacs.
3. Balances in respect of certain sundry debtors, sundry creditors and
loans and advances are taken as shown by the books of account and are
subject to confirmation and consequent adjustments and reconciliation,
if any.
4. As per Management opinion Current assets, loans and advances have a
value on realization which in the ordinary course of the business would
not be less than the amount at which they are stated in the balance
sheet and the provisions for all known and determined liabilities are
adequate and not in excess of the amount reasonably required.
5. Details of dues to micro and small enterprises as defined under the
MSMED Act, 2006
There are no micros, small and medium enterprises, to which the Company
owes dues, which are outstanding for more than 45 days as at March 31,
2014. This information as required to be disclosed under the Micro,
Small and Medium Enterprises Development Act, 2006 has been determined
to the extent such parties have been identified on the basis of
information available with the Company.
6. Figures in brackets represent those of the previous year.
7. Figures for the previous year have been regrouped / amended wherever
necessary.
Mar 31, 2013
1. In the opinion of the Board of Directors, the current assets, loans
and advances have a value on realization in the ordinary course of
business at least equal to the amount stated in the balance sheet
unless otherwise stated.
2) Sundry Debtors, Sundry Creditors , Loans and advances are subject to
adjustments due to verification and reconciliation of amount as per
books.
3) No provision has been made in respect of the following:
Income Tax Demand aggregating to Rs. 5,32,21,791/- against which the
company has referred the matter to the Settlement Commission. The
Settlement Commission has passed the order in favour of the Company and
has directed the Assessing Officer to recalculate the net tax
liability/ Refund.
(i) Income matters of earlier years in appeals, rectification towards
which the liability is not ascertained , will be accounted for in the
year in which the matters are settled.
(ii) Gratuity amounting to Rs. 46,500/- upto March 2013, since the same
will be accounted for at the time of settlement of the employees
accounts.
4. Deferred Tax:
In accordance with the requirements of Accounting Standard 22 on "
Accounting for taxes on income" issued by the Institute of Chartered
Accountants of India , the Company has given effect to Deferred Tax
accounting. The break-up of deferred tax assets/ liabilities as on 31st
March, 2013 is as under: -
5. Previous year''s figures have been regrouped rearranged wherever
necessary.
6. The Company does not have any business other than its main business
of Merchant Banking hence segment information is not applicable.
Mar 31, 2012
1. In the opinion of the Board of Directors, the current assets, loans
and advances have a value on realization in the ordinary course of
business at least equal to the amount stated in the balance sheet
unless otherwise stated.
2. Sundry Debtors, Sundry Creditors, Bank accounts, Loans & Advances,
are subject to adjustments due to verification and reconciliation of
amounts as per books.
3. No provision has been made in respect of the following: -
(i) Income Tax Demand aggregating to Rs. 5,32,21,791/- against which
the company has referred `the matter to the Settlement Commission. The
Settlement commission has admitted the `company's application under
section 245D(1) of the Income Tax Act, 1961,
(ii) Income matters of earlier years in appeals, rectification, towards
which the liability is not ascertained, will be accounted for in the
year in which the matters are settled.
(iii) Gratuity amounting to Rs. 122333/- upto March 2012, since the
same will be accounted for at the time of settlement of the employees
accounts.
4. Previous year's figures have been regrouped rearranged wherever
necessary.
5. The Company does not have any business other than its main business
of Merchant Banking hence segment information is not applicable.
6. The information with respect to Note No.6A
(d)(e)(f)(h)(i)(j)(k)(l), 6B (b)(c)(d)(e)(f)(g), 6C, 6D, 6E, 6 F, 6G(a)
to 6G(i), 6J, 6L (iii)(iv), 6M, 6N, 6O, 6 P, 6Q (ii)(iii)(iv), 6R
(iii)(iv), 6U, 6V, 6W of Part I (Form of Balance Sheet) of Schedule VI
are not given in this statement to the extent it is inapplicable to the
Company.
7. The information with respect to Note No. 1, 2(A), 3, 4(a)(b)(c), 5
of Part II (Form of Statement of profit & loss) of Schedule VI are not
given in this statement to the extent it is inapplicable to the
Company.
NOTE 8.1
Contingent liabilities and As at 31 March As at 31 March
2012 2011
commitments (to the extent not
provided for) In Rupees In Rupees
Contingent Liabilities
(a) Claims against the company Please Refer Please Refer
not acknowledged as debt NOTE 1 (B) 3 NOTE 1 (B) 3
(b) Guarantees - -
(c) Other money for which the Please Refer Please Refer
company is contingently liable NOTE 1 (B) 3 NOTE 1 (B) 3
Mar 31, 2010
1) In the opinion of the Board of Directors, the current assets, loans
and advances have a value on realization in the ordinary course of
business at least equal to the amount stated in the balance sheet
unless otherwise stated.
2) Sundry Debtors, Sundry Creditors, Bank accounts, Loans & Advances,
Assets on Lease in custody of the parties, Stock on hire in custody of
the parties are subject to adjustments due to verification and
reconciliation of amounts as per books.
3) No provision has been made in respect of the following. -
(i) Income Tax Demand aggregating to Rs. 5,32,21,791/- against which
the company has referred the matter to the Settlement Commission. The
Settlement commission has admitted the companys application under
section 245D(1) of the Income Tax Act, 1961,
(ii) Income matters of earlier years in appeals, rectification, towards
which the liability is not ascertained, will be accounted for in the
year in which the matters are settled.
(iii) Gratuity amounting to Rs. 61725/- Upto March 2010, since the same
will be accounted for at the time of settlement of the employees
accounts.
4) Previous years figures have been regrouped rearranged wherever
necessary.
5) The Company does not have any business other than its main business
of Finance hence segment information is not applicable.
6) Provision for taxation has not been made due carried forward losses.
7) Disclosure pursuant to The Reserve Bank of India Notification DNBS.
167 / CGM (OPA) - 2003 dated March 29, 2003 (As per Annexure )
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