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Notes to Accounts of Capri Global Capital Ltd.

Mar 31, 2015

1.1 Terms/Rights attached to equity shares

The company has only one class of equity share having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. During the year ended 31st March 2015, the amount of per share dividend recognized as distributions to equity shareholders was Rs. 1.50/- (31 March 2014 Rs. 1.50/-)

In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company. The distribution will be proportional to the number of equity shares held by the shareholders.

As per records of the company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.

2. Gratuity and oth er post employm ent benefit plans (AS - 15) The Company has an funded defined benefit obligation plan for gratuity under the Group Gratuity scheme of Life Insurance Corporation of India. The company has created plan assets by contributing to the Gratuity Fund with LIC Of India & to HDFC Standard Life Insurance Company. The following tables summarise the components of the net employee benefit expenses recongnised in the Statement of Profit and Loss, and the fund status and amount recognised in the Balance Sheet for the gratuity benefit plan.

3. Employee Stock Option Plan

During the year, the Company has alloted 21,600 Equity shares as a result of Excersising Employee Stock Options at the Excersise price of Rs. 10/- per share. Further, there are no Employee Stock Options Outstanding as on the Balance Sheet Date. 25. Segment Reporting (AS-17)

Primary Segment (Business Segment)

The Company operates mainly in the business segment of fund based financing activity. All other activities revolve around the main business. Further, all activities are carried out within India. As such, there are no separate reportable segments as per the provisions of AS 17 on ''Segment Reporting''.

Secondary Segment (Geographical Segment)

The Company operates only in domestic markets. As a result sepearate segment information for different geographical segments is also not disclosed.

4. Leases (AS - 19)

Operating Leases

The company has taken office premises & guest houses under operating lease and the leases are of cancellable/ noncancellable in nature. The lease arrangement are normally renewable on expiry of the lease period at the option of the lessor/ lessee ranging from 3 to 5 years. Some of the lease agreements are having lock in period of six months to three years which are non-cancellable during that period. After the expiry of the lock in period, the lease agreement becomes cancellable in nature at the option of the lessor or the lessee by giving 1-3 months notice to the either party. There are no restrictions imposed by the lease agreement. There is no contingent rent in the lease agreement. There is escalation clause in some lease agreements. The future minimum lease payments in respect of the non cancellable lease are as follows:

The lease payments recognized in the Statement of Profit & Loss in respect of non-cancellable lease for the year are Rs. 3.23 Lacs (31 March 2014: Rs. 102.71 Lacs).

The lease payments recognized in the Statement of Profit & Loss in respect of cancellable lease for the year are Rs. 325.16 Lacs (31 March 2014: Rs. 249.02 Lacs).

The Company had sub-leased the office premises under operating lease in the current year. The lease income recognized in the Statement of Profit & Loss for the year is Rs. 16.29 Lacs (31 March 2014: Rs. 8.87 Lacs).

5. The company believes that no impairment of assets arises during the year as per Accounting Standard - 28 "Impairment of Assets".

6. Contingent Liabilities

On account of bank guarantee to the Central Bureau of Investigation against release of cash Rs.12.12 Lacs (31 March 2014: Rs.12.12 Lacs)

7. Capital and oth er commitm ents

a) Estimated amount of contracts remaining to be executed on capital account and not provided for Rs. 2.92 Lacs (31st March 2014 Rs. 20.42 Lacs)

b) Other Commitments

Pending disbursements of sanctioned loans Rs. 8,541.59 Lacs (31 March 2014 Rs. 5,776.56 Lacs)

8. Details of dues to Micro and Small Enterprises as defined under the MSMED Act, 2006 Based on the intimation received by the Company, none of the suppliers have confirmed to be registered under "The Micro, Small and Medium Enterprises Development (''MSMED'') Act, 2006". Accordingly, no disclosures relating to amounts unpaid as at the year end together with interest paid /payable are required to be furnished.

9. The Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007, require the Company to make provision for standard assets at 0.25 percent of the Standard Assets. However, as a prudent practice from FY 2012-13, the Company has adopted to make provision of 0.50 percent.

Consequently, during the current financial year 2014-15, the profits of the company are lower by Rs. 55.03 Lacs. Further, during the year, the Company has decided to make Additional Floating Provision on standard asset of 1.50 Percent which will be available for adjustment towards provision for Sub-standard Assets. Accordingly an amount of Rs. 1374.42 Lacs is provided as Additional Floating Provision, which has been partially utilised towards the Provision for Non Performing Assets to the extent of Rs. 92.68 Lacs.

10. The Board of Directors in their meeting held on December 17, 2014 have approved the Scheme of Amalgamation of Capri Global Distribution Company Private Limited, Capri Global Finance Private Limited, Capri Global Investment Advisors Private Limited and Capri Global Research Private Limited with Capri Global Capital Limited and their respective shareholders and creditors under sections 391 to 394. The Appointed Date for the merger is April 1, 2015. The Company has filed the Application with the Hon''ble Bombay High Court and awaiting further instructions from the Hon''ble Court. The Scheme is subject to various regulatory approvals including the Bombay High Court.

11. In the opinion of the Board, the Current Assets, Loans & Advances are realizable in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

12. Previous year figures Previous year figures have been regrouped and reclassified wherever necessary to confirm to current year''s presentation.


Mar 31, 2014

1. Gratuity and other post employment benefit plans (AS - 15)

The Company has an funded defined benefit obligation plan for gratuity under the Group Gratuity scheme of Life Insurance Corporation of India. The company has created plan assets by contributing to the Gratuity Fund with LIC Of India.

The following tables summarise the components of the net employee benefit expenses recongnised in the Statement of profit and loss, and the fund status and amount recognised in the balance sheet for the gratuity benefit plan.

2. Segment Reporting (AS - 17) The Company operates mainly in the business segment of fund based financing activity. All other activities revolve around the main business. Further, all activities are carried out within India. As such, there are no separate reportable segments as per the provisions of AS - 17 on ''Segment Reporting''.

3. Disclosures as required by Accounting Standard (AS - 18) ''Related Party Disclosures'' in respect of transactions for the year are as under A) List of Related Parties over which control exists

Sr. No. Name of the Related Party Relationship

i SUBSIDIARIES

1 Capri Global Securities Private Limited Wholly owned Subsidiary

2 Capri Global Investment Advisors Private Limited Wholly owned Subsidiary

3 Capri Global Distribution Company Private Limited Wholly owned Subsidiary

4 Capri Global Finance Private Limited Wholly owned Subsidiary

5 Capri Global Research Private Limited Wholly owned Subsidiary

6 Capri Global Resources Private Limited Wholly owned Subsidiary

B) Enterprises over which Management and/or their relatives have control

1 Money Matters Infrastructure Private Limited

2 Parijat Properties Pvt Ltd

3 Dreamwork Media & Entertainment Pvt Ltd

C) Key Management Personnel

1 Mr. P. H. Ravikumar Managing Director (Upto 24-January-2014)

2 Mr. Rajesh Sharma Director (Chairman & Managing Director Upto 11-April-2013)

3 Mr. Quinton E Primo III Chairman (From 02-August-2013)

4 Mr. Sunil Kapoor Executive Director (From 24-January-2014)

4. Leases (AS - 19)

Operating Leases

The company has taken office premises & guest houses under operating lease and the leases are of cancellable/non-cancellable in nature. The lease arrangement are normally renewable on expiry of the lease period at the option of the lessor/lessee ranging from 3 to 5 years. Some of the lease agreements having lease period of five years have a lock in period of three years which are non-cancellable in nature. After the expiry of the lock in period, the lease agreement becomes cancellable in nature at the option of the lessor or the lessee by giving 1-3 months notice to the either party. There are no restrictions imposed by the lease agreement. There is no contingent rent in the lease agreement. There is escalation clause in some lease agreements. The future minimum lease payments in respect of the non cancellable lease are as follows :

5. Impairment of Assets (AS - 28)

The Company believes that no impairment of assets arises during the year as per Accounting Standards-28 "Impairment of Assets".

6. Contingent Liabilities

On account of bank guarantee to the Central Bureau of Investigation against release of cash Rs. 12.12 Lacs (31 March 2013 : Rs. 12.12 Lacs)

7. Capital and other commitments

a) Estimated amount of contracts remaining to be executed on capital account and not provided for Rs. 20.42 Lacs (31 March 2013 Rs. 126.05 Lacs)

b) Other Commitments

Pending disbursements of sanctioned loans Rs. 5776.56 Lacs (31 March 2013, Rs. 1,312.73 Lacs)

8. Expenditure in Foreign Currency

Foreign Travelling Expenses Rs. 14.86 Lacs (31 March 2013 : Rs. 18.38 Lacs)

Director Sitting Fees Rs. 0.60 Lacs (31 March 2013 : Rs. Nil)

Capital Expenditure (Royalty) Rs. 605.79 Lacs (31 March 2013 : Rs. Nil)

9. Details of dues to Micro and Small Enterprises as defined under the MSMED Act, 2006 Based on the intimation received by the Company, none of the suppliers have confirmed to be registered under "The Micro, Small and Medium Enterprises Development (''MSMED'') Act, 2006". Accordingly, no disclosures relating to amounts unpaid as at the year end together with interest paid /payable are required to be furnished.

10. The Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007, require the Company to make provision for standard assets at 0.25 percent of the Standard Assets. However, as a prudent practice from FY 2012-13, the Company has adopted to make provision of 0.50. Consequently, during the current financial year 2013-14, the profits of the company are lower by Rs. 67.54 Lacs.

During the year, the Company, has decided to provide an additional Floating provision on standard asset of 0.25 percent which will be available for adjustment towards provision for Substandard Assets. Accordingly an amount of Rs. 174.04 Lacs is provided as a Floating Provision, which has been adjusted towards the Provision for Substandard Assets, thereby having no impact on Profits for the year.

11. The 5th warrant conversion period in relation to 36,83,092 outstanding warrants of the Company commenced from 27th December, 2013 and ended on 26th March, 2014. Warrant Conversion price was fixed at Rs. 109.62 (including premium of Rs. 99.62). Warrantholders holding 27,408 warrants opted for conversion to equity shares and the Company received an amount of Rs. 30.04 Lacs from the warrantholders who have exercised their option to convert warrants into equity shares. The shares were alloted on 2nd April, 2014. The amount received has not been utilized for any purpose as at the end of the year. The balance 36,55,684 warrants have lapsed.

12. Utilization of money received on conversion of warrants

During the year ended 31 March, 2014 the company raised Rs. 30.04 Lacs towards conversion of 27,408 warrants into equity shares. As on 31 March 2014, the said proceeds were not utilized & were parked in a separate bank account.

13. In the opinion of the Board, the Current Assets, Loans & Advances are realizable in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

14. Previous year figures

Previous year figures have been regrouped and reclassified wherever necessary to confirm to current year''s presentation.


Mar 31, 2013

1. Gratuity and other post employment benefit plans (AS - 15)

The Company has a funded defined benefit obligation plan for gratuity under the Group Gratuity scheme of Life Insurance Corporation of India. The Company has created plan assets by contributing to the Gratuity Fund with LIC Of India.

The following tables summarise the components of the net employee benefit expenses recognised in the Statement of Profit and Loss, and the fund status and amount recognised in the Balance Sheet for the gratuity benefit plan.

2. Segment Reporting (AS - 17)

The Company operates mainly in the business segment of fund based financing activity. All other activities revolve around the main business. Further, all activities are carried out within India. As such, there are no separate reportable segments as per the provisions of AS - 17 on ‘Segment Reporting''.

3. Leases (AS - 19) Operating Leases:

The company has taken office premises, guest houses & motor car under operating lease and the leases are of cancellable/ non-cancellable in nature. The lease arrangement are normally renewable on expiry of the lease period at the option of the lessor/lessee ranging from 3 to 5 years. Some of the lease agreements having lease period of five years have a lock in period of three years which are non-cancellable in nature. After the expiry of the lock in period, the lease agreement becomes cancellable in nature at the option of the lessor or the lessee by giving 1-3 months notice to the either party. There are no restrictions imposed by the lease agreement. There is no contingent rent in the lease agreement. There is escalation clause in some lease agreements. The future minimum lease payments in respect of the non cancellable leases are as follows:

4. Impairment of Assets (AS - 28)

The Company believes that no impairment of assets arises during the year as per Accounting Standards-28 "Impairment of Assets".

5. Contingent Liabilities

On account of bank guarantee to the Central Bureau of Investigation against release of cash Rs. 12.12 Lacs (31 March 2012 : Rs. 12.12 Lacs)

6. Capital and other commitments

a) Estimated amount of contracts remaining to be executed on capital account and not provided for Rs. 126.05 Lacs (31 March 2012 Rs. 77.32 Lacs)

b) Other Commitments

Pending disbursements of sanctioned loans Rs. 1,312.73 Lacs (31March 2012, Rs. 3,500 Lacs)

7. Expenditure in Foreign Currency

Foreign Travelling Expenses Rs. 18.38 Lacs (31 March 2012 : Rs. 0.25 Lacs)

8. Details of dues to Micro and Small Enterprises as defined under the MSMED Act, 2006

Based on the intimation received by the Company, none of the suppliers have confirmed to be registered under "The Micro, Small and Medium Enterprises Development (‘MSMED'') Act, 2006". Accordingly, no disclosures relating to amounts unpaid as at the year end together with interest paid/payable are required to be furnished.

9. As per the Non - Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007, the Company is required to make provision for standard assets at 0.25 percent of the Standard Assets. The Company has accordingly made provision of 0.25 percent on its standard assets as at 31st March, 2012. However, in light of the current market environment, considering credit and market risks, as a prudent practice, the Company has decided to adopt an additional provisioning whereby in addition to standard provisioning of 0.25 percent, the Company will make an additional provision of 0.25 percent. Consequently, the profits of the current year are lower by Rs. 106.50 Lacs.

10. The 4th warrant conversion period in relation to 3,726,086 outstanding warrants of the Company commenced from 27th December, 2012 and ended on 26th March, 2013. Warrant Conversion price was fixed at Rs. 106.07 (including premium of Rs. 96.07). Warrantholders holding 42,994 warrants opted for conversion to equity shares and the Company received an amount of Rs. 45.60 Lacs from the warrantholders who have exercised their option to convert warrants into equity shares. The shares were alloted on 5th April, 2013. The amount received has not been utilized for any purpose as at the end of the year. As on the end of the year 3,683,092 warrants are outstanding.

11. Utilization of money received on conversion of warrants

During the year ended 31st March, 2013 the company raised Rs. 45.60 Lacs towards conversion of 42,994 warrants into equity shares. As on 31st March, 2013, the said proceeds were not utilized & were parked in a separate bank account.

12. In the opinion of the Board, the Current Assets, Loans & Advances are realizable in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet. The provision for all known liabilities is adequate and not in excess of the amount reasonably necessary.

13. Previous year figures

Previous year figures have been regrouped and reclassified wherever necessary to confirm to current year''s presentation.


Mar 31, 2012

1.1 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 Company declares and pays dividends in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

During the year ended 31st March 2012, the amount of per share dividend recognized as distributions to equity shareholders was Rs 1.00/- (31 March 2011 Rs 1.25/-)

In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company. The distribution will be proportional to the number of equity shares held by the shareholders.

There are 37,26,086 (31 March 2011: 37,34,487)warrants outstanding as at the end of the year. The warrant holders at their option can convert the warrants into equity shares in the ratio of 1:1 as per the Warrant Exercise Price. The 4th conversion period of warrants will begin from December 27, 2012 and will close on March 26, 2013 and 5th Conversion period of warrants will begin from December 27, 2013 and will close on March 26, 2014. Warrant Exercise Price shall be calculated as 20% discount to the Market Price subject to a minimum of Rs 10/- and the Market Price shall be the higher of the following:

(a) The average price of the Equity shares of the Company computed as the average of the weekly high and low of the closing prices of the shares of the Company during the six months immediately preceding the month in which the exercise price is announced; or

(b) Average of the weekly high and low of the closing prices of the related shares during the two weeks preceding the month in which the exercise price is announced.

Note:

2(i) Cash & foreign currency seized by Central Bureau of Investigation in the previous year has been released during the current year.

2(ii) Fixed Deposits of Rs 29.50 Lacs (31 March 2011: Rs NIL) have been pledged as security for overdraft facility from bank.

3. Retirement Benefit - Gratuity (AS -15)

From the current financial year, the Company has funded (upto previous year unfunded) Defined Benefit Obligation Plan for gratuity to its employees, who have completed five years or more of service, under the group gratuity scheme of Life Insurance Corporation (LIC) of India. The Company has created planned assets by contribution to the gratuity fund with LIC of India.

Consequent to the adoption of revised AS- 15 'Employee Benefits' issued under Companies (Accounting Standards) Amendment Rules, 2008, the following disclosures have been made as required by the standard.

Since the enterprise used the intrinsic value method the impact on the reported net profit and earnings per share by applying the fair value based method is as follows:

In March 2005, ICAI has issued a guidance note on "Accounting for Employees Share Based Payments" applicable to employee based share plan, the grant date in respect of which falls on or after April 1, 2005. The said guidance note requires that the preformed disclosures of the impact of the fair value method of accounting of employee stock compensation accounting in the financial statements applying the fair value based method defined in the said guidance note. The impact on the reported net profit and earnings per share would be as follows;

4. Segment Reporting (AS - 17)

Basis of Preparation

Information is given in accordance with the requirements of Accounting Standard 17 on Segment Reporting issued by the Institute of Chartered Accountants of India. Revenues and expenses directly attributable to the Segments are allocated to the respective segments. Those revenues and expenses which cannot be directly allocated to the Segments are apportioned on a reasonable basis. Segment Capital employed represents the net assets in that Segment. It excludes Capital reserve and tax related assets.

Business Segments

The Company's business is organized and management reviews the performance based on the business segments. The Company's business may be divided into three major Segments.

(A) Investment & Trading in Securities

(B) Financing Activity and

(C) Financial Advisory Services Geographical Segments

The Company's operations are solely in one Geographic segment namely 'Within India' and hence no separate information for Geographic segment wise disclosure is required.

5. Leases (AS - 19)

Operating Leases:

The Company has taken office premises, guest houses & motor car under operating lease and the leases are of cancellable/ non-cancellable in nature. The lease arrangement are normally renewable on expiry of the lease period at the option of the lessor/ lessee ranging from 3 to 5 years. Some of the lease agreements having lease period of five years have a lock-in period of three years which are non-cancellable in nature. After the expiry of the lock-in period, the lease agreement becomes cancellable in nature at the option of the lessor or the lessee by giving 1-3 months notice to the either party. There are no restrictions imposed by the lease agreement. There is no contingent rent in the lease agreement. There is escalation clause in some lease agreements. The future minimum lease payments in respect of the non cancellable lease are as follows :

The lease payments recognized in the Statement of Profit & Loss in respect of non-cancellable lease for the year are Rs 8.75 Lacs (31 March 2011: Rs 38.98 Lacs).

The lease payments recognized in the Statement of Profit & Loss in respect of cancellable lease for the year are Rs 293.67 Lacs (31 March 2011: Rs 269.78 Lacs).

The Company had sub-leased the office premises under operating lease in the previous year.

The lease income recognized in the Statement of Profit & Loss for the year is Rs Nil (31 March 2011: Rs 46.37 Lacs).

6. The Company believes that no impairment of assets arises during the year as per Accounting Standards - 28 "Impairment of Assets.

7. Contingent Liabilities

On account of bank guarantee to the Central Bureau of Investigation against release of cash Rs 12.12 Lacs (31 March 2011: Nil)

8. (a) Foreign Currency Earnings Rs Nil (31 March 2011: Nil)

(b) Foreign Currency Expenditure

Professional Fees Rs Nil (31 March 2011: Rs 70.78 Lacs)

Travelling Expenses Rs Nil (31 March 2011: Rs 5.38 Lacs)

9. Capital and other commitments

a) Estimated amount of contracts remaining to be executed on capital account and not provided for Rs 77.32 Lacs (31 March 2011 Rs 78.61 Lacs)

b) Other Commitments Rs NIL (31 March 2011 Rs NIL)

10. Details of dues to Micro and Small Enterprises as defined under the MSMED Act, 2006

The Company has not transacted with any Micro and Small Enterprises as specified under MSMED Act, 2006. Hence, the disclosure requirement under Section 22 of the said act is not applicable.

11. (a) Additional Disclosures as required in terms of Paragraph 13 of Non Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 issued by Reserve Bank of India.

12. During the year, the Company has proposed dividend of Rs 1/- per share to Equity Shareholders.

13. The 3rd (third) warrant conversion period in relation to 37,34,487 outstanding warrants of the Company commenced from 27th December, 2011 and ended on 26th March, 2012. Warrant Conversion price was fixed at Rs 77.54 (including premium of Rs 67.54). Warrant holders holding 8401 warrants opted for conversion to equity shares and the Company received an amount of Rs 6.51 Lacs from the warrant holders who have exercised their option to convert warrants into equity shares. The shares were allotted on March 30, 2012. The said proceeds were not utilized & were parked in a separate bank account. As on the end of the year, 37,26,086 warrants are outstanding.

14. In the opinion of the Board of Directors, the Current Assets and the Non - Current Assets have a value on realization in the normal course of business at least equal to the value at which they are stated in the Balance Sheet.

15. Previous year figures

Till the year ended 31 March, 2011, the Company was using pre-revised Schedule VI to the Companies Act, 1956, for preparation and presentation of its financial statements. During the year ended 31 March, 2012 the revised Schedule VI notified under the Companies Act, 1956, has become applicable to the Company. The Company has reclassified previous year figures to conform to this year's classification. Except accounting for dividend on investments in subsidiaries, the adoption of revised Schedule VI does not impact recognition and measurement principles followed for preparation of financial statements. However, it significantly impacts presentation and disclosures made in the financial statements, particularly presentation of balance sheet.


Mar 31, 2009

1. Contingent Liability not provided for Rs. Nil.(Previous year Rs. Nil).

2. In the opinion, of the Board of Directors, the Current Assets, Loans & Advances have a value on realisation in the normal course of business at least equal to the value at which they are stated in the Balance Sheet.

3. In accordance with section 45IC of Reserve Bank of India (Amendment) Act, 1997, amount not less than Twenty percent of the profit after taxation in the current year has been transferred to Statutory Reserve.

4. The gratuity provision has not been made, as the provisions of the Act, are not applicable to the Company for the Current year.

5. Deferred Tax

i) Deferred Tax Assets and Liabilities have been considered in accordance with Accounting Standard No.22, issued by the Institute of Chartered Accountants of India.

6. Segment Reporting

Information is given in accordance with the requirements of Accounting Standard 17 on Segment Reporting issued by the Institute of Chartered Accountants of India. The Companys business is organized and management reviews the performance based on the business segments as mentioned below:

The Companys business may be divided into three major Segments

A) Income from Trading in Debt Securities

B) Financing Activity. And

C) Income from Financial Advisory Services

The Companys business is primarily concentrated in India, so, the Company is considered to operate only in the domestic segment.

Revenues and expenses directly attributable to the Segments are allocated to the respective segments. Those revenues and expenses which cannot be directly allocated to the Segments are apportioned on a reasonable basis.

7. Related Party Transactions

The Company has promoted wholly owned subsidiaries Money Matters Investment Advisors Private Limited and Money Matters Distribution Company Private Limited during the year. The transactions with the other related parties are as under.

Disclosures as required by Accounting Standard (AS-18) Related Party Disclosures in respect of transactions for the year are as under:

A. List of Related Parties over which control exists:

Sl. No. Name of the Related Party Relationship

1. Money Matters Securities Private Limited Wholly owned Subsidiary wef 28/03/2008

2. Money Matters Investment Advisors Private Limited Wholly owned Subsidiary wef 15/04/2008

3. Money Matters Distribution Company Private Limited Wholly owned Subsidiary wef 18/11/2008

B. List of related parties with whom transactions were carried out during the year and description of relationship:

Subsidiaries:

1. Money Matters Securities Private Limited

2. Money Matters Investment Advisors Private Limited

3. Money Matters Distribution Company Private Limited

Key Management Personnel and their Relatives:

1. Mr.Rajesh Sharma Chairman & Managing Director w.e.f. 24/01/2009

2. Mr. Suresh Gattani Whole Time Director w.e.f. 08/09/2007

Other Related Parties

1. Money Matters Advisory Services Limited

2. Money Matters India Private Limited

3. Money Matters Properties Private Limited

4. Money Matters Infrastructure Private Limited

5. Dnyaneshwar Trading & Investments Private Limited

6. Shri Rangji Investments Private Limited

8. Change of Name

During the year, the name of the Company has been changed from Dover Securities Limited to Money Matters Financial Services Limited w.e.f October 6, 2008.

9. Earning Per Share

The basic earning per share is computed by dividing the net profit attributable to equity shareholders for the year by the weighted average number of equity shares outstanding during the reporting year. Diluted earnings per share are computed using the weighted average number of equity shares and also the weighted average number of equity shares that could have been issued on the conversion of all dilutive potential equity shares. The dilutive potential equity shares are adjusted for the proceeds receivable, had the shares been actually issued at fair value.

10. Additional Information pursuant to the provisions of paragraphs 3, 4C & 4D of part II of Schedule VI to The Companies Act, 1956 (to the extent applicable) are as under:

a) Earning in Foreign Currency : Rs. 4,054,765 Previous Year (Nil)

b) Expenditure in Foreign Currency : Rs. Nil Previous Year (Nil)

11. Utilisation of Proceeds from Rights Issue:

During the year the Company has raised Rs. 1800.04 Lacs through issue of 1,80,00,400 equity shares of Rs. 10/- each alongwith detachable warrants for cash to the equity shareholders of Company on rights basis. The allottment of Right Shares along with Detachable warrants was completed on March 27, 2009- As at March 31, 2009 the entire proceeds of the Rights Issue was lying with the Bankers to the Issue and is unutilized.

12. Prior period comparatives:

Previous year figures have been regrouped and reclassified wherever necessary to confirm to current years presentation.

 
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