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Notes to Accounts of CNI Research Ltd.

Mar 31, 2015

A. Contingent Liabilities are disclosed by way of notes.

The company has only one class of shares referred to as equity shares having a par value of Rs, 1/- each. Each holder of equity shares is entitled to one vote per share.

Note:

1) Of the above 11,151,000 equity shares of Rs, 1/- each fully paid up have been issued towards acquisition of business.

2) Of the above 10,200,750 equity shares of Rs, 1/- each fully paid up have been issued as bonus by capitalizing reserves.

3) Of the above 6,800,500 equity shares of Rs, 1/- each fully paid up have been issued as bonus by capitalizing reserves.

4) Of the above 1,800,000 equity shares of Rs, 1/- each fully paid up have been on conversion of warrants.

5) Of the above 32,402,250 equity shares of Rs, 1/- each fully paid up have been issued as bonus by capitalizing reserves.

Note 2. Deferred Tax Liabilities/Assets ( net )

In accordance with the Accounting Standard 22 on " Accounting for Taxes on Income " issued by The Institute of Chartered Accountants of India, Deferred tax assets and liabilities should be recognized for all timing differences in accordance with the said standard.

The tax effect of temporary timing differences during the year that have resulted in deferred tax assets / liabilities are given below.

A) Other Related Party ( Enterprise Owend or significantly influenced by Key Management Personnel)

CNI Info change Pvt. Ltd.

Neil Information Technology Limited

Shreenath Fin stock Pvt. Ltd.

2) Related Party transactions

The Case for A.Y. 2011-12 was selected under scrutiny and the assesing officer has raised demand of Rs, 4,32,590/- on the company. The company had filed an appeal against the order to CIT(A). The result of the CIT (A) was decided against the company. Thereafter the company has filed the appeal to ITAT against the order of CIT(A). The principal matter is that the officer has made addition to income under Rule 8D of IT Rules,1962 which the company has disputed. In case the appeal is not decided in favour of the company, then it may have to pay an amount of Rs, 4,32,590/- along with interest.

3. Previous year's figures have been regrouped / rearranged wherever necessary, so as to make them comparable with those of the current year.


Mar 31, 2014

Company Overview :

Cni Research Limited has international tie ups with global agencies to distribute their research content to global acclaimed investors through their research reports. It provides research content of international standards. It has developed in house research content which is not only propriety in nature but also unique in helping any investor to take decision on any company listed in India.

1 Related party Transactions

A) List of Related party

Key Management Personnel

Mr. Kishor Ostwal Managing Director

Mrs. Sangita Ostwal Whole Time Director

Mr. Mayur Doshi_Director_

Mr. Arun Jain Additional Director

Other Related Party ( Enterprise Owend or siognificantly influenced by Key Management Personnel)

CNI Infoxchange Pvt. Ltd.

Neil Information Technology Limited

Shreenath Finstock Pvt. Ltd.

b) Related Party transactions

2 Expenses in foreign currency : NIL (P.Y. NIL) Earnings in foreign currency : Rs. 16,020 (P.Y. Rs. 23,871)

3 Segment Reporting

The company has identified business segments as its primary segment.Business segments are primarily sale & purchase of equity shares. Segments have been identified taking into the account the nature of the products and the differing risks & returns.

The Case for A.Y. 2011-12 was selected under scrutiny and the assesing officer has raised demand or Rs. 4,32,590/- on the company. The company has filed an appeal against the order to CIT(A). The principal matter is that the officer has made addition to income under Rule 8D of IT Rules,1962 which the company has disputed. In Case the appeal is not decided in favour of the company, then it may have to pay an amount of Rs. 4,32,590/-.

4 Previous year''s figures have been regrouped / rearranged wherever necessary, so as to.


Mar 31, 2012

Company Overview :

Cni Research Limited (formerly known as Chamatkar.Net (India) Ltd.) has international tie ups with global agencies to distribute their research content to global acclaimed investors through their research reports. It provides research content of international standards. It has developed in house research content which is not only propriety in nature but also unique in helping any investor to take decision on any company listed in India.

Note:

1) Of the above 11,151,000 equity shares of Rs. 1/- each fully paid up have been issued towards acquisition of business.

2) Of the above 10,200,750 equity shares of Rs. 1/- each fully paid up have been issued as bonus by capitalising reserves.

3) Of the above 6,800,500 equity shares of Rs. 1/- each fully paid up have been issued as bonus by capitalising reserves.

4) Of the above 1,800,000 equity shares of Rs. 1/- each fully paid up have been on conversion of warrants.

5) Of the above 32,402,250 equity shares of Rs. 1/- each fully paid up have been issued as bonus by capitalising reserves.

Note 1.1 Deferred Tax Liabilities ( net )

In accordance with the Accounting Standard 22 on " Accounting for Taxes on Income " issued by The Institute of Chartered Accountants of India, Deferred assets and liabilities should be recognized for all timing accordance with the said standard. differences in

The tax effect of significant timing differences during the year that have resulted in deferred assets and liabilities are given below.

2) Segment Information

The Company has identified business segments as its primary segment. Business Segments are primarily Content Sale, Research Product Saler and Equity Sales. Revenues and Expenses directly attributable to segments are reported under each reportable segment. All other expenses which are not attributable or allocable to segments have been disclosed as unallocable expenses. Any capital expenditure incurred for any reportable segment is disclosed.

3) Accounting for Investment

(a) The long term investments are valued at cost less provision if any, for permanent diminution in value of investments.

(b) Profit & Loss Statement includes amount of Rs. 77,61,994 which is written off from the value of investment due to permanent diminution in the value of investment.

(c) The value of investment as on 31.03.2012 is Rs. 5,18,75,208. The value of investment as on 31.03.2011 is Rs. 7,33,11,191.


Mar 31, 2010

1. Information under 4D of Para II, Para 3 and 4 of Part II of Schedule VI of the Companies Act, 1956 are not applicable to the company.

2. In accordance with the Accounting Standard 22 on "Accounting for Taxes on Income",(AS 22) issued by The Institute of Chartered Accountants of India, Deferred assets and liabilities are recognised for all timing differences in accordance with the said standard.

3. Balance of Debtors, Creditors, Loan & Advances are subject to confirmation and/or reconciliation/consequential adjustments, if any.

4. Key Man Insurance Premium of Rs. 10,85,959/- (PYRs. 10,71,000)

5. Previous years figures have been re-grouped, re-classified and re-arranged, wherever considered necessary to conform to current years presentation.



 
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