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Notes to Accounts of Champion Finsec Ltd.

Mar 31, 2014

Note: 1 In the opinion of the Board, the Current Assets, Loans and Advances are not less than the value stated, if realized in the ordinary course of business. The provisions for all known liabilities are adequate and not in excess of the amount reasonably necessary.

Note: 2 The Company does not deal in any specific segment therefore it is not possible to give any segment wise information.

Note: 3 related party Disclosures: Related party disclosures, as required by AS-18,"Related Party Disclosures" are given below: No Related party transaction was carried out during the year.

Note: 4 No provision for gratuity is made in absence of any liability as per the provision of Gratuity Act 1972.

Note: 5 Figures in brackets indicate figures relating to the previous year.

Note: 6 previous year''s figures have been regrouped /rearranged wherever necessary.


Mar 31, 2013

Contingent Liabilities are disclosed when the Company has a possible obligation or a present obligation and it is probable that a cash outflow will not be required to settle the obligation.

Note: 1 In the opinion of the Board, the Current Assets, Loans and Advances are not less

than the value stated, if realized in the ordinary course of business. The provisions for all known liabilities are adequate and not in excess of the amount reasonably necessary.

Note: 2 The Company does not deal in any specific segment therefore it is not possible to give any segment wise information.

Note: 3 related party Disclosures: Related party disclosures, as required by AS- 18,"Related Party Disclosures" are given below:

No Related party transaction was carried out during the year.

Note: 5 No provision for gratuity is made in absence of any liability as per the provision of Gratuity Act 1972.

Note: 6 Figures in brackets indicate figures relating to the previous year.

Note: 7 previous year''s figures have been regrouped /rearranged wherever necessary.


Mar 31, 2012

Note: 1 In the opinion of the Board, the Current Assets, Loans and Advances are not less than the value stated, if realized in the ordinary course of business. The provisions for all known liabilities are adequate and not in excess of the amount reasonably necessary.

Note: 2 The Company does not deal in any specific segment therefore it is not possible to give any segment wise information.

Note: 3 related party Disclosures: Related party disclosures, as required by AS-18,"Related Party Disclosures" are given below: No Related party transaction was carried out during the year.

Note: 4 No provision for gratuity is made in absence of any liability as per the provision of Gratuity Act 1972.

Note: 5 Figures in brackets indicate figures relating to the previous year.

Note: 6 previous year's figures have been regrouped /rearranged wherever necessary.


Mar 31, 2011

1. In the opinion of the Board, the Current Assets, Loans and Advances are not less than the value stated, if realized in the ordinary course of business. The provisions for all known liabilities are adequate and not in excess of the amount reasonably necessary.

2. The Company does not deal in any specific segment therefore it is not possible to give any segment wise information.

3. The company has made investment of Rs. 13,680,150/- in other corporate and given Loans & advances of Rs.125,000,000/- to other companies.

4. Related party Disclosures

Related party disclosures, as required by AS-18,"Related Party Disclosures" are given below:

No Related party transaction was carried out during the year.

5. In the opinion of the management the current assets, loans and advances have a value on realization in ordinary course of business at least equal to the amounts at which they are stated in the Balance Sheet. Provisions have been made for all known liabilities, losses and claims.

6. No provision for gratuity is made in absence of any liability as per the provision of Gratuity Act 1972.

7. Figures in brackets indicate figures relating to the previous year.

8. Previous year's figures have been regrouped /rearranged wherever necessary.

9. Other Clause of Part II of Schedule VI of the Companies Act, 1956 are either NIL OR NOT APPLICABLE.


Mar 31, 2010

1. In the opinion of the Board, the Current Assets, Loans and Advances are not less than the value stated, if realized in the ordinary course of business. The provisions for all known liabilities are adequate and not in excess of the amount reasonably necessary.

2. The Company does not deal in any specific segment therefore it is not possible to give any segment wise information.

3. The company has made investment of Rs. 4088150/- in other corporate and given Loans & advances of Rs.90,000,000/- to other companies.

4. Related party Disclosures 1. Relationship

Related party disclosures, as required by AS-18,"Related Party Disclosures" are given below:

(i) List of Companies under common control: NA

(ii) Enterprises over which Key management personnel / Relatives have significant influence:

NA

(iii) Key Managerial Person NA

5. In the opinion of the management the current assets, loans and advances have a value on realization in ordinary course of business at least equal to the amounts at which they are stated in the Balance Sheet. Provisions have been made for all known liabilities, losses and claims.

6 No provision for gratuity is made in absence of any liability as per the provision of Gratuity Act 1972.

7. Figures in brackets indicate figures relating to the previous year.

8. Previous years figures have been regrouped /rearranged wherever necessary.

9. Other Clause of Part II of Schedule VI of the Companies Act, 1956 are either NIL OR NOT APPLICABLE.

 
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