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Notes to Accounts of Brilliant Portfolios Ltd.

Mar 31, 2015

NOTE NO.1 : CORPORATE INFORMATION

Brilliant Portfolios Limited is a public limited company domiciled in India and incorporated under the provisions of the Companies Act, 1956. Its shares are listed on two stock exchanges in India. The company is engaged in the business of Corporate Finance and Real Estate.

NOTE NO.2 : SHARE CAPITAL

(a) Terms / Rights attached to Equity Shares

The Company has only one class of equity shares having a par value of Rs.10/- per share. Each holder of equity shares is entitled to one vote per share. The dividend, as & when, proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing annual general meeting.

During the year ended 31 st March, 2015, no dividend (Previous Year Nil) is declared by the Board of Directors. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of preferential amounts. The distribution will be in proportion to the number of equity shares held by the Shareholders

(b) Shares held by Holding / Ultimate holding company and/or their subsidaries/associates:

NIL

(c) Details of Shareholders holding more than 5% shares in the company:

NOTE NO. - 3. - Related Party Disclosure

Related party disclosure as required by AS-18 - "Related Party Disclosure". are given below Companies having Significant Influence -

Key Managerial Personnel

Ravi Jain

R.N. Arora

Bhuvnesh Kumar Sharma

Sajal Jain

Transactions with related parties

Loan taken from Director Rs. 10,40,000/-

NOTE NO. - 4. - CONTINGENT LIABILITIES

The Company has furnished corporate guarantee to a bank for a loan taken by a company.

NOTE NO. - 5

There have been no reported transactions during the year with Micro, Small and Medium Enterprises covered under the Micro, Small and Medium Enterprises Development (MSMED) Act, 2006.

NOTE NO. - 6

In accordance with the Accounting Standard - 22 on Accounting for Taxes on Income, the Company has net cumulative deferred tax asset of Rs. 3,21,868/- (P.Y.- Rs. 3,67,888/-)

NOTE NO. - 7

(i) Expenditure in Foreign Currency Nil (Previous Year Nil)

(ii) CIF value of Import Nil (Previous Year Nil)

(iii) FOB value of Export Nil (Previous Year Nil)

(iv) Earning in Foreign Exchange Nil (Previous Year Nil)

NOTE NO. - 8

In the opinion of the Board, the current assets, loans & advances, have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet.

NOTE NO. - 9. - SEGMENT REPORTING

The Company is engaged in the business of Non Banking financial business and there are no separate reportable segment as per Accounting Standard - 17 "Segment Reporting"

NOTE NO. - 10

As required in terms of Paragraph 13 of Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 2015 schedule to Balance sheet of a Non Banking Financial Company are annexed hereto.

NOTE NO. - 11 PREVIOUS YEAR FIGURES

Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

 
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