Mar 31, 2018
1 SIGNIFICANT ACCOUNTING POLICIES
a) Corporate Information:
BNK Capital Markets Limited is a Public Limited Company domiciled in India and incorporated under the Provisions of the Companies Act, 1956. Its shares are listed on the BSE Limited and The Calcutta Stock Exchange Limited in India. BNK Capital Markets Limited is a Non- Banking Financial (Non Deposit Accepting or Holding) Company registered underthe Reserve Bank oflndia Act, 1934.
b) Basis of Accounting and Preparation of Financial Statements:
The financial statements of the Company have been prepared under on going concern assumption and underthe historical cost convention in accordance with Generally Accepted Accounting Principles in India (Indian GAAP) and relevant provisions of the Companies Act, 2013.
All Expenses and Income to the extent ascertainable with reasonable certainty are accounted for on accrual basis.
c) Use of Estimates:
The preparation of financial statements in conformity with generally accepted accounting principles (Indian GAAP) requires the management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities as on the date of financial statements and the amou nts of revenue and expenses within the reported period. Difference between the actual results and estimates are recognized in the period in which the results are known/materialized All assets and liabilities have been classified as Current and Non Current as perthe Companyâs normal operating cycle and other criteria set out in the Schedule III to the Companies Act, 2013.
d) Tangible Assets:
All Fixed Assets are valued at cost less depreciation.
An Asset is treated as impaired when the carrying cost of asset exceeds its recoverable value. An impairment loss is charged to profit & loss account in the year in which an asset is identified as impaired.
e) Depreciation:
Depreciation is systematically allocated over the useful life of all tangible assets under StraightLine Method as specified in part C of Schedule II of the Companies Act, 2013.Depreciation for assets purchased/sold during the period under review is proportionately charged.
f) Investments:
Investments are readily realizable but intended to be held for more than one year from the date on which such investments are made, are classified as Non Current Investments, all other Investments are classified as current Investments. Investments are stated at cost.
On disposal of an Investment, the difference between its carrying amount and net disposal proceeds is charged to the statement of profit and loss,however if there is any permanent diminution in the value of investment it is recognized in the statement of Profit & Loss and appreciation is generally ignored.
g) Inventory
Inventories are valued at lower of cost and net realizable value or at NAV in case of mutual fund.
h) Income Recognition
Revenue is recognized and reported to the extent it is probable that the economic benefits will flow to the company and the revenue can be reliably measured.
Interest Income is recognized as and when the same has accrued on time proportion basis and companyâs right to receive interest is established.
Dividend Income is recognized when the same is received by the company.
Income including interest/ discount or any other charges on NPA is recognized when it is actually realized.
The expenditure of the business are measured and taken into account on accrual basis.
i) Employees Retirement & Other Benefits
Short term employees benefits are recognized in the period in which employeesâ services are rendered.
Leave Encashment benefit is considered and provided for, based on actual as at the financial year.
The benefits for staff gratuity have been provided for the year under review, j) Income Taxes
Tax expenses comprise Current & Deferred Tax. Current Income Tax is measured at the amount expected to be paid to the Tax Authorities in accordance with the Income Tax act, 1961.
Deferred Taxes reflect the impact of the timing differences between taxable income and the accounting income originating during the current year and reversal of timing differences for the earlier years.
Deferred tax liabilities are recognised for all taxable timing differences. Deferred tax asset is not recognized in the books as a matter of prudence. Deferred tax is measured at substantively enacted tax rates by the Balance Sheet date. Minimum Alternate Tax (MAT) if paid in a year is charged to the Statement of Profit & Loss as Current Tax. The company recognises MAT credit available as an asset only to the extent that there is convincing evidence that the company will pay normal income tax during the specified period i.e. the period for which MAT credit is allowed to be earned forward, k) Provisions, Contingent Liabilities and Contingent Assets Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized but are disclosed in the notes. Contingent Assets are neither recognized nor disclosed in the financialstatements.
I) Earnings per Share (EPS)
Basic EPS are calculated by dividing the net profit for the period attributable to the equity share holders (after deducting attributable taxes) by the weighted average number of equity shares outstanding during the period.
Mar 31, 2016
a) Corporate Information:
BNK Capital Markets Limited is a public limited Company domiciled in India and incorporated under the Provisions of the Companies Act, 1956. Its shares are listed on the BSE Limited and The Calcutta Stock Exchange Limited in India. BNK Capital Markets Limited is a Non- Banking Financial (Non Deposit Accepting or Holding) Company registered under the Reserve Bank of India Act, 1934.
b) Basis of Accounting and Preparation of Financial Statements: The financial statements of the Company have been prepared under or going concern assumption and under the historical cost convention in accordance with Generally Accepted Accounting Principles in India (Indian GAAP) and relevant provisions of the Companies Act, 2013, in compliance with all material aspects with the accounting standards notified by the Companies (Accounting Standards) Rules, 2006 and also as per the guidelines for prudential norms prescribed by the Reserve Bank of India.
All Expenses and Income to the extent ascertainable with reasonable certainty are accounted for on accrual basis.
c) Use of Estimates:
The preparation of financial statements in conformity with generally accepted accounting principles (Indian GAAP) requires the management to make judgments, estimates and assumptions that affect the reported amounts of assets and liabilities as on the date of financial statements and the amounts of revenue and expenses within the reported period. Difference between the actual results and estimates are recognized in the period in which the results are known/materialized .All assets and liabilities have been classified as Current and Non Current as per the Company''s normal operating cycle and other criteria set out in the Schedule III to the Companies Act, 2013.
d) Tangible Assets:
All Fixed Assets are valued at cost less depreciation.
An Asset is treated as impaired when the carrying cost of asset exceeds its recoverable value. An impairment loss is charged to profit & loss account in the year in which an asset is identified as impaired.
e) Depreciation:
Depreciation is systematically allocated over the useful life of all tangible assets under Straight-line Method as specified in part C of Schedule II of the Companies Act, 2013.Depreciation for assets purchased/sold during the period under review is proportionately charged.
f) Investments:
Investments are readily realizable but intended to be held for more than one year from the date on which such investments are made, are classified as Non Current Investments, all other Investments are classified as current Investments. Investments are stated at cost.
On disposal of an Investment, the difference between its carrying amount and net disposal proceeds is charged to the statement of profit and loss, but if there is any appreciation in the value of investments is generally ignored.
There have been changes in the quantity face value/the name of the Companies due to their respective various corporate restructuring activities. These are marked with (*) in Note no. 6(b).
g) Inventory
Inventories are valued at lower of cost and net realizable value or at NAV in case of mutual fund.
h) Income Recognition
Revenue is recognized and reported to the extent it is probable that the economic benefits will flow to the company and the revenue can be reliably measured.
Interest Income is recognized as and when the same has accrued on time proportion basis and company''s right to receive interest is established.
Dividend Income is recognized when the same is received by the company.
Income including interest / discount or any other charges on NPA is recognized when it is actually realized.
The expenditure of the business are measured and taken into account on accrual basis.
i) Employees Retirement & Other Benefits
Short term employees benefits are recognized in the period in which employees'' services are rendered.
Leave Encashment benefit is considered and provided for, based on actual as at the financial year The benefits for staff gratuity have been provided for the year under review, j) Income Taxes
Tax expenses comprise Current & Deferred Tax. Current Income Tax is measured at the amount expected to be paid to the Tax Authorities in accordance with the Income Tax Act, 1961.
Deferred Taxes reflect the impact of the timing differences between taxable income and the accounting income originating during the current year and reversal of timing differences for the earlier years.
Deferred tax liabilities are recognized for all taxable timing differences. Deferred tax asset is not recognized in the books as a matter of prudence. Deferred tax is measured at substantively enacted tax rates by the Balance Sheet date. Minimum Alternate Tax (MAT) if paid in a year is charged to the Statement of Profit & Loss as Current Tax. The Company recognizes MAT credit available as an asset only to the extent that there is convincing evidence that the Company will pay normal income tax during the specified period i.e. the period for which MAT credit is allowed to be carried forward, k) Provisions, Contingent Liabilities and Contingent Assets Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized but are disclosed in the notes. Contingent Assets are neither recognized nor disclosed in the financial statements.
I) Earnings Per Share (EPS)
Basic EPS are calculated by dividing the net profit for the period attributable to the equity share holders (after deducting attributable taxes) by the weighted average number of equity shares outstanding during the period.
Mar 31, 2015
A) Corporate Information:
BNK Capital Markets Limited is a public limited Company domiciled in
India and incorporated under the Provisions of the Companies Act, 1956.
Its shares are listed on the BSE Limited and The Calcutta Stock
Exchange Limited in India. BNK Capital Markets Limited is a Non-
Banking Financial (Non Deposit Accepting or Holding) Company registered
underthe Reserve Bank oflndia Act, 1934.
b) Basis of Preparation of Financial Statements:
The financial statements have been prepared under on going concern
assumption and under the historical cost convention in accordance with
Generally Accepted Accounting Principles in India and provisions of the
Companies Act, 2013.
All Expenses and income to the extent ascertainable with reasonable
certainty are accounted for on accrual basis.
c) Use of Estimates:
The preparation of financial statements in conformity with generally
accepted accounting principles (GAAP) requires the management to make
estimates and assumptions that affect the reported amounts of assets
and liabilities as on the date of financial statements and the amounts
of revenue and expenses within the reported period. Difference between
the actual results and estimates are recognized in the period in which
the results are known/materialized.AII assets and liabilities have been
classified as Current and Non Current as per the Company's normal
operating cycle and other criteria set out in the Schedule III to the
Companies Act, 2013.
d) Fixed Assets:
All Fixed Assets are valued at cost less depreciation.
An Asset is treated as impaired when the carrying cost of asset exceeds
its recoverable value. An impairment loss is charged to profit & loss
account in the year in which an asset is identified as impaired.
e) Depreciation:
Depreciation is systematically allocated over the useful life of all
tangible assets under StraightLine Method as specified in part C of
Schedule II of the Companies Act, 2013.The Company had followed under
W. D.V. method for and upto the year ended 31st March 2014. Due to the
change of depreciation method, the consequential impact on the
depreciation charged for the year ended 31st March 2015, since not
being material, has not been separately considered.
f) Investments:
Investments are readily realizable but intended to be held for more
than one year from the date on which such investments are made, are
classified as Non Current Investments, all other Investments are
classified as current Investments. Investments are stated at cost.
On disposal of an Investment, the difference between its carrying
amount and net disposal proceeds is charged to the statement of profit
and loss, but if there is any appreciation in the value of investments
is generally ignored.
There have been changes in the quantity /focevalue/the name of the
Companies due to their respective various corporate restructuring
activities. These are marked with (*) in Note no. 6(b).
g) Inventory
Inventories are valued at lower of cost and net realizable value or at
NAV in case of mutual fund.
h) Income Recognition
Revenue is recognized and reported to the extent it is probable that
the economic benefits will flow to the company and the revenue can be
reliably measured.
Interest Income is recognized as and when the same has accrued on time
proportion basis and company's right to receive interest is
established. Dividend Income is recognized when the same is received by
the company.
Income including interest/ discount or any other charges on NPA is
recognized when it is actually realized.
The expenditure of the business are measured and taken into account on
accrual basis.
i) Employees Retirement & Other Benefits .
Short term employees benefits are recognized in the period in which
employees' services are rendered.
Leave Encashment benefit is considered and provided for, based on
actual as at the financial year.
The benefits for staff gratuity have been provided for the year under
review.
j) Income Taxes
Tax expenses comprise Current & Deferred Tax Current Income Tax is
measured at the amount expected to be paid to the Tax Authorities in
accordance with the Income Tax act 1961. Deferred Taxes reflect the
impact of the timing differences between taxable income and the
accounting income originating during the current year and reversal of
timing differences for the earlier years.
Deferred tax liabilities are recognised for all taxable timing
differences. Deferred tax asset is not recognized in the books as a
matter of prudence. Deferred tax is measured at substantively enacted
tax rates by the Balance Sheet date. Minimum Alternate Tax (MAT) if
paid in a year is charged to the Statement of Profit & Loss as Current
Tax. The company recognises MAT credit available as an asset only to
the extent that there is convincing evidence that the company will pay
normal income tax during the specified period i.e. the period for which
MAT credit is allowed to be carried forward.
k) Provisions, Contingent Liabilities and Contingent Assets Provisions
involving substantial degree of estimation in measurement are
recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognized but are disclosed in the
notes. Contingent Assets are neither recognized nor disclosed in the
financialstatements.
l) Earnings Per Share (EPS)
Basic EPS are calculated by dividing the net profit for the period
attributable to the equity share holders (after deducting attributable
taxes) by the weighted average number of equity shares outstanding
during the period.
Mar 31, 2014
A) Corporate Information
BNK Capital Markets Limited is a public limited Company domiciled in
India and incorporated under the Provisions of the Companies Act, 1956.
Its shares are listed on the BSE Limited and The Calcutta Stock
Exchange Limited in india. BNK Capital Markets Limited is a Non-
Banking Financial ( Non Deposit Accepting or Holding ) Company
registered under the Reserve Bank of India Act, 1934.
b) Basis of Accounting :
The financial statements have been prepared under the historical cost
convention on the accounting principles of a going concern. Accounting
Policies not specifically referred to otherwise are consistent and in
consonance with the applicable accounting standards prescribed by the
Companies (Accounting Standards) Rules, 2006 and the relevant
provisions of the Companies Act, 1956 (as amended) to the extent
applicable and also as per the guidelines for prudential norms
prescribed by the Reserve Bank of India and the general circular
15/2013 dated 13th september,2013 of the Ministry of Corporate Affairs
in respect of section 133 of the Companies Act, 2013. All Expenses and
income to the extent ascertainable with reasonable certainty are
accounted for on accrual basis."The preparation of financial statements
in conformity with generally accepted accounting principles (GAAP)
requires the management to make estimates and assumptions that affect
the reported amounts of assets and liabilities and disclosures of
contingent liabilities on the date of financial statements and reported
amounts of revenue and expenses for that year. Actual result could
differ from these estimates. Any revision to the accounting estimates
is recognised prospectively."All assets and liabilities have been
classified as Current and Non Current as per the Company''s normal
operating cycle and other criteria set out in the Schedule VI to the
Companies Act, 1956 (as amended).
c) Fixed Assets :
All Fixed Assets are valued at cost less depreciation.
An Asset is treated as impaired when the carrying cost of asset exceeds
its recoverable value. An impairment loss is charged to profit & loss
account in the year in which an asset is identified as impaired.
d) Depreciation :
Depreciation on all tangible fixed assets is provided on written down
value method in terms of Section 350 of the Companies Act, 1956, at the
rates prescribed in Schedule XIV to the said act over their useful
life.
e) Investments :
Investments, are readily realisable but intended to be held for more
than one year from the date on which such investments are made, are
classified as Non Current Investments, all other Investments are
classified as current Investments. Investments are stated at cost. On
disposal of an Investment, the difference between its carrying amount
and net disposal proceeds is charged to the statement of profit and
loss.
f) Inventory
Inventories are valued at cost.
g) Recognition of Income and Expenditure :
i) Revenue is recongnised and reported to the extent it is probable
that the economic benefits will flow to the company and the revenue can
be reliably measured.
ii) Interest Income is recognised as and when the same has accrued on
time proportion basis and company''s right to receive interest is
established.
iii) Dividend Income is recognised when the same is received by the
company.
h) Employee Retirement & Other Benefits
i) Short term employees benefits are recognised in the period in which
employees'' services are rendered.
ii) Leave Encashment benefit is considered and provided for, based on
actual as at the financial year.
iii) The benefits for staff gratuity have not been provided for the
year under review. As most of the employees appointed are contractual.
i) Income Taxes
Tax expenses are comprised of Current & Deferred Tax. Current Income
Tax is measured at the amount expected to be paid to the Tax
Authorities in accordance with the Income Tax act, 1961. Deferred
Income Taxes reflect the impact of the timing differences between
taxable income and the accounting income originating during the current
year and reversal of timing differences for the earlier years.
Deferred tax liabilities are recognised for all taxable timing
differences. Deferred tax Assets are recognised for deductable timing
differences only to the extent that there is reasonable certainty that
sufficient future taxable income will be available against which such
deferred tax assets can be realised. Minimum Alternate Tax (MAT) if
paid in a year is charged to the Statement of Profit & Loss as Current
Tax. The company recognises MAT credit available as an asset only to
the extent that there is convincing evidence that the company will pay
normal income tax during the specified period i.e. the period for which
MAT credit is allowed to be carried forward.
j) Provisions, Contingent Liabilities and Contingent Assets Provisions
involving substantial degree of estimation in measurement are
recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognised but are disclosed in the
notes. Contingent Assets are neither recongnized nor disclosed in the
financial statements.
k) Earnings Per Share (EPS)
Basic EPS are calculated by dividing the net profit for the period
attributable to the equity share holders (after deducting attributable
taxes) by the weighted average number of equity shares outstanding
during the period.
Mar 31, 2013
A) Basis of Preparation of Financial Statements :
The financial statements have been prepared to comply in all material
aspects with the Accounting Standards notified by the Companies
(Accounting Standards) Rules, 2006, relevant provisions of the
Companies Act, 1956 and also as per the guidelines for prudential norms
prescribed by the Reserve Bank of India. The accounts have been
prepared on the historical cost basis and on the principles of going
concern.
b) Fixed Assets :
All Fixed Assets are valued at cost less depreciation.
An Asset is treated as impaired when the carrying cost of asset exceeds
its recoverable value. An impairment loss is charged to profit & loss
account in the year in which an asset is identified as impaired.
c) Depreciation :
Depreciation on all tangible fixed assets is provided on written down
value method in terms of Section 350 of the Companies Act, 1956, at the
rates prescribed in Schedule XIV to the said act over their useful
life.
d) Investments :
Investments, are readily realisable but intended to be held for more
than one year from the date on which such investments are made, are
classified as Non Current Investments, all other Investments are
classified as current Investments.
Long Term Investments are stated at cost.
On disposal of an Investment, the difference between its carrying
amount and net disposal proceeds is charged to the statement of profit
and loss.
e) Recognition of Income and Expenditure :
i) Revenue is recongnised and reported to the extent it is probable
that the economic benefits will flow to the company and the revenue can
be reliably measured.
ii) Interest Income is recognised as and when the same has accrued on
time proportion basis and company''s right to receive interest is
established.
iii) Dividend Income is recognised when the same is received by the
company.
f) Emloyee Retirement & Other Benefits
i) Short term employees benefits are recognised in the period in which
employees'' services are rendered.
ii) Leave Encashment
Leave Encashment benefit is considered and provided for, based on
actual as at the financial year.
g) Income Taxes
Deferred Income Taxes reflect the impact of the timing differences
between taxable income and the accounting income originating during the
current year and reversal of timing differences for the earlier years.
Deferred tax liabilities are recognised for all taxable timing
differences. Deferred tax Assets are regnised for deductable timing
differences only to the extent that there is reasonable certainty that
sufficient future taxable income will be available against which such
deffered tax assets can be realised.
Minimum Alternate Tax (MAT) in accordance with the provisions of
sec.115JB of the income tax act, 1961 is not applicable to the company
for the year under audit.
h) Provisions, Contingent Liabilities and Contingent Assets Provisions
involving substantial degree of estimation in measurement are
recognized when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognised but are disclosed in the
notes. Contingent Assets are neither recongnized nor disclosed in the
financial statements.
i) Earnings Per Share (EPS)
Basic EPS are calculated by dividing the net profit for the period
attributable to the equity share holders (after deducting attributable
taxes) by the weighted average number of equity shares outstanding
during the period.
Mar 31, 2012
A) Presentation & Disclosure of Financial statements
The revised Schedule VI notified under the Companies Act, 1956 has
become applicable to the company during the year ended 31st March, 2012
for preparation & presentation of its financial statements. The
adoption of revised Schedule VI does not impact recognition &
measurement principles followed for preparation of financial
statements. However, the company has reclassified the previous year
figures in accordance with the requirements applicable in the current
year.
b) Basis of Accounting :
The financial statements have been prepared to comply in all material
aspects with the Accounting Statendards notified by the Companies
(Accounting Standards) Rules, 2006, relevant provisions of the
Companies Act, 1956 and also as per the guidelines for prudential norms
prescribed by the Reserve Bank of India. The accounts have been
prepared on the historical cost basis and on the principles of going
concern.
c) Fixed Assets :
All Fixed Assets are valued at cost less depreciation. An Asset is
treated as impaired when the carrying cost of asset exceeds its
recoverable value. An impairment loss is charged to profit & loss
account in the year in which an asset is identified as impaired.
d) Depreciation :
Depreciation on all tangible fixed assets is provided on written down
value method in terms of Section 350 of the Companies Act, 1956, at the
rates prescribed in Schedule XIV to the said act.
e) Investments :
Investments, are readily realisable but intended to be held for more
than one year from the date on which such investments are made, are
classified as Non Current Investments. All other Investments are
classified as current Investments.
Long Term Investments are stated at cost. Current Investments are
carried in the financial statements at cost of individual investment
basis. In case of unquoted securities, the value is determined at cost.
On disposal of an Investment, the difference between its carrying
amount and net disposal proceeds is charged to the statement of profit
and loss.
f) Recognition of Income and Expenditure :
i) Revenue is recongnised and reported to the extent it is probable
that the economic benefits will flow to the company and the revenue can
be reliably measured.
ii) Interest Income is recognised as and when the same has accrued on
time proportion basis and company's right to receive interest is
established.
iii) Dividend Income is recognised when the same is received by the
company.
g) Employee Retirement & Other Benefits
Short term employees benefits are recognised in the period in which
employees's services are rendered.
Leave Encashment : Leave Encashment benefit is considered and provided
for, based on actual as at the financial year.
h) Income Taxes
Deferred Income Taxes reflect the impact of the timing differences
between taxable income and the accounting income originating during the
current year and reversal of timing differences for the earlier years.
Deferred tax liabilities are recognised for all taxable timing
differences. Deferred tax Assets are recognised for deductable timing
differences only to the extent that there is reasonable certainty that
sufficient future taxable income will be available against which such
differed tax assets can be realised.
Minimum Alternate Tax (MAT) in accordance with the provisions of
sec.115GB of the income tax act,1961 is not applicable for the year
under audit to the company.
i) Earnings Per Share (EPS)
Basic EPS are calculated by dividing the net profit or loss for the
period attributable to the equity share holders (after deducting
attributable taxes) by the weighted average number of equity shares
outstanding during the period.
For the purpose of calculating the diluted EPS, the net profit or loss
for the period attributable to Equity Shareholders and the Weighted
average number of shares outstanding during the period are adjusted for
the effects of all dilutive potential equity shares.
Mar 31, 2010
1. Basis of preparation of Financial Statement
a) The Company prepares the accompanying financial statements in
accordance with Generally Accepted Accounting Principles(GAAP).GAAP
comprises mandatory accounting standards issued by the Institute of
Chartered Accountants of India(ICAI), the provisions of the Companies
Act, 1956 and guidelines issued by the Securities and Exchange Board of
India to the extent applicable.The financial statements are presented
in Indian rupees rounded off to the nearest thousand.
b) The Company generally follows mercantile system of accounting and
recognises significant items of income / expenditure on the accrual
basis.
c) Management evaluates all recently issued or revised accounting
standards on an ongoing basis.
2. Fixed Assets and Depreciation
The Company capitalises Fixed Assets at cost inclusive of all
incidental expenses incurred in acquisition of such ? .sets .
Depreciation on Fixed Assets has been provided on written down value
method . The rates applied, however, are in accordance with the
provision of Schedule XIV to the Companies Act, 1956.
3. Investments
Investments being in the nature of long term investments are valued at
cost at which they have been accured.
4. Stock-in-Trade Stock-in-Trade is valued at cost
Information pursuant to Schedule VI of the Companies Act,1956
Particulars in respect of Opening Stock,Purchases.Sales,and Closing
stock of shares and Bonds.
5. Taxes on Income
Current Tax is determined as the amount of tax payable in taxable
income for the period.Deferred tax is recognized subject to the
consideration of prudence in respect of deferred tax liablities.on
timing differences being the difference between taxable income and
accounting income that originate in one period and are capable of
reversal in one or more subsequent periods.
8. The Company has not provided gratuity liability as per Accounting
Standard AS-15, as there is no liability on gratuity for the year
under reference.
9. There is no reportable segment as per Accounting Standard 17 as the
operations of the Company relate to mainly NBFC activities
10. Provisions
Provisions are recognised for liabilities that can be measured only by
using a substantial degree of estimation,if the company has a present
obligation as a result of a past event, and the amount of the
obligation can be reliably estimated.