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Notes to Accounts of Crest Ventures Ltd.

Mar 31, 2015

1.1 Rights of equity shareholders:

The Company has only one class of equity shares having a par value of Rs.10 each. Each holder of equity shares is entitled to one vote per share held. 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 all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

1.2 The Board of Directors at its meeting held on February 14, 2015 and the shareholders of the Company vide postal ballot process has approved the increase in Authorised Share Capital of the Company from Rs.175,000,000 divided into 17,500,000 Equity Shares of Rs.10 each to Rs.235,000,000 divided into 23,500,000 Equity Shares of Rs.10 each. Accordingly the Authorised Share Capital of the Company has been increased from Rs.175,000,000 divided into 17,500,000 Equity Shares of Rs.10 each to Rs.235,000,000 divided into 23,500,000 Equity Shares of Rs.10 each w.e.f. April 07, 2015.

2.1 Term loan from banks of Rs. 7,356,205 (previous year Rs. NIL) is secured against hypothecation of vehicles purchased thereof and Rs. 65,746,319 (previous year Rs. 95,369,381) is secured against the mortgage charge on the finished realty stock of the Company situated at Sharyans Audeus, Andheri (W), Mumbai 400058 and the personal guarantee of a director.

2.2 Term loan from others of Rs. 62,500,000 (previous year Rs. 62,500,000) is secured against equitable mortgage of realty work-in-progress of the Company situated at Sharyans Corner, Bandra (W), Mumbai-400050 and 10/J, Veronica Street, Waroda Road, Bandra (W), Mumbai-400050 and the personal guarantee of a director.

2.3 Term loan from bank of Rs. 34,140,020 (previous year Rs. 51,662,116) is secured against properties located at Kalpataru Horizon, Worli, Mumbai-400018 which are owned by relative of a director and the personal guarantee of the relative of a director.

2.4 Term loan from others of Rs. NIL (previous year Rs. 65,800,000) is secured against properties located at Kiara Apartment, Union Park, Khar, Mumbai-400052 which are owned by an entity controlled by a director and the personal guarantee of a director and Rs. 62,283,668 (previous year Rs. NIL) is taken jointly with subsidiary company Caladium Properties Private Limited and is secured against unsold inventories of the subsidiary company and hypothetication of subsidiary's present and future receivables and the personal gaurantee of a director.

3.1 Bank overdraft of Rs.72,707,324 (previous year Rs.94,145,932) is secured against mortgage charge on the finished realty stock of the Company situated at Sharyans Audeus, Andheri (W), Mumbai 400058 and the personal guarantee of a director.

4.1 Pursuant to the enactment of Companies Act 2013, the Company has applied the estimated useful lives as specified in Schedule II of the Companies Act, 2013. Accordingly the unamortised carrying value is being depreciated/ amortised over the revised/ remaining useful lives. The written down value of fixed assets whose lives have expired as at 1st April 2014 of Rs. 86,788 (net of tax of Rs. 59,971) have been adjusted in the opening balance of profit and loss account as per transition provisions contained in Schedule II to the Companies Act, 2013.

5.1 Others loans and advances includes advances given related to real estate of Rs.10,140,000 (previous year Rs.30,140,000) and service tax receivable of Rs.182,794 (previous year Rs.190,655).

6.1 As per Accounting Standard 15 - "Employee benefits", the disclosures as defined in the Accounting Standard are given below: Defined Contibution Plan

Contribution to Defined Contribution Plans, recognised as expense for the year is as under :

Defined Benefit Plan

The Company offers its employees defined-benefit plan in the form of a gratuity scheme. Benefits under the defined benefit plans are typically based on years of service and the employee's compensation (immediately before retirement). The gratuity scheme covers all regular employees. Actuarial valuation is done based on "Projected Unit Credit" method. Gains and Losses of the changed actuarial assumptions are charged to the statement of profit and loss. Gratuity scheme is not funded however, provision as per Accounting Standard 15 - "Employee benefits" has been made in the financial statements.

7.1 Donation includes expenditure related to Corporate Social Responsibility as per Section 135 of the Companies Act, 2013 read with Schedule VII of Rs.800,000.

8 Change in the name of the Company:

Pursuant to the approval of the members obtained at the Extra Ordinary General Meeting of the Company held on August 14, 2014 the name of the Company stands changed from "Sharyans Resources Limited" to "Crest Ventures Limited" w.e.f. September 01, 2014.

9 The Board of Directors' of the Company in their meeting held on February 05, 2015 has approved a Composite Scheme of Amalgamation ("Scheme") between ITI Securities Limited with ITI Capital Holdings Private Limited w.e.f. April 01, 2014 (being the appointed date) and ITI Capital Holdings Private Limited with Crest Ventures Limited w.e.f. April 02, 2014. (being the appointed date). The Company has filed an application under clause 24(f) of the Listing Agreement with the Bombay Stock Exchange Limited ("BSE"). Pending the approval of the Scheme from the BSE and subsequent approval of the Hon'ble High Court of Bombay and other Regulatory Authorities, no effect is given in these financial statements. The merger would be effective only once the order is received from Hon'ble High Court of Bombay and filed with the Registrar of Companies.

10 As per Accounting Standard 21 on "Consolidated Financial Statements" and Accounting Standard 23 on "Accounting for Investments in Associates in Consolidated Financial Statements" the Company has presented consolidated financial statements, including subsidiaries and associates. Accordingly segment information as required under Accounting Standard 17 on "Segment Reporting" is included under Notes to Consolidated Financial Statements.

11 Disclosure in respect of applicability of Accounting Standard 18 "Related Party Disclosures":

(i) List of related parties and relationship:

Sr. No. Name of the Party Relationship

1. ITI Securities Limited Subsidiary

2. Intime Spectrum Commodities Private Limited Subsidiary

3. Tamarind Tours Private Limited (upto September 14, 2014) Subsidiary

4. ITI Capital Holdings Private Limited Subsidiary

5. Crest Wealth Management Private Limited Subsidiary [Formerly known as ITI Wealth Management Private Limited]

6. Prebon Yamane (India) Limited Subsidiary

7. ITI Financial Services Limited (upto October 15, 2014) Subsidiary

8. ITI Investor Services Limited (upto October 15, 2014) Subsidiary

9. Crest Residency Private Limited Subsidiary

10. Caladium Properties Private Limited Subsidiary

11. Ramayana Realtors Private Limited Associate

12. Classic Mall Development Company Private Limited Associate

13. Starboard Hotels Private Limited Associate

14. Classic Housing Projects Private Limited Associate

15. Escort Developers Private Limited Associate

16 SAI Consulting Engineers Private Limited (upto November 04, 2014) Associate

17. Edelweiss Fund Advisors Private Limited Associate

18. Tamarind Tours Private Limited (w.e.f. September 15, 2014) Associate

19. Kara Property Ventures LLP Associate

20. Trinity Ventures Joint venture

21. Vijay Choraria - Managing Director Key managerial personnel (KMP)

22. Sunita Choraria Relative of KMP

23. Fine Estates Private Limited Entity controlled by KMP

24. Priyanka Finance Private Limited Entity controlled by KMP

25. Associated Luggage Company Private Limited Entity controlled by relative of KMP

26. Bridge Equities Private Limited Entity controlled by relative of KMP

27. Fine Business Facilitators Private Limited Entity controlled by relative of KMP

12 In Compliance with Accounting Standard 27 "Financial Reporting of Interest in Joint Venture" the required information is as under:

a. Trinity Ventures is a jointly controlled entity having its place of business in India. The Company is having 10% (previous year 10%) of ownership interest.

13 Contingent Liabilities:

a. Corporate guarantees given by the Company to banks against bank guarantees issued to subsidiaries Rs. NIL (previous year Rs.225,000,000), associates Rs.5,000,000 (previous year Rs. NIL) and others Rs.72,000,000 (previous year Rs. NIL).

b. Income-Tax matters in respect of which appeal is pending Rs.612,466 (previous year Rs.1,659,256).

14 The previous year figures have been regrouped, reworked, rearranged and reclassified, wherever necessary, to be read in relation to the amounts and other disclosures relating to the current year.

15 Crest Ventures Limited (Formerly known as Sharyans Resources Limited), is a registered Non Banking Financial Company with Reserve Bank of India bearing Certificate of Registration No. N-13.01888 dated December 14, 2007.

16 Disclosure of details as required by revised Para 13 of Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 2007:


Mar 31, 2014

1. Rights of equity shareholders:

The Company has only one class of equity shares having a par value of Rs. 10 each. Each holder of equity shares is entitled to one vote per share held. 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 all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. Term loan from bank of Rs. 95,369,381 (previous year Rs. NIL) is secured against the mortgage charge on the finished realty stock of the Company and the personal guarantee of a Director.

3. Term loan from others of Rs. 62,500,000 (previous year Rs. NIL) is secured against equitable mortgage of realty work in progress of the Company situated at Sharyans Corner, Bandra (W), Mumbai-400050, 10/J, Veronica Street, Waroda Road, Bandra (W), Mumbai-400050 and the personal guarantee of a Director.

4. Term loan from bank of Rs. 51,662,116 (previous year Rs. 66,855,630) is secured against properties located at Kalpataru Horizon, Worli, Mumbai- 400018 which are owned by relative of a Director and the personal guarantee of the relative of a Director.

5. Term loan from others of Rs. 65,800,000 (previous year Rs. 100,000,000) is secured against properties located at Kiara Apartment, Union Park, Khar, Mumbai- 400052 which are owned by an entity controlled by a Director and the personal guarantee of a Director.

6. Secured bank overdraft of Rs. 94,145,932 (previous year Rs. NIL) is secured against mortgage charge on the finished realty stock of the Company and the personal guarantee of a Director.

7. As per Accounting Standard 15 "Employee benefits", the disclosures as defined in the Accounting Standard are given below: Defined Benefit Plan The Company offers its employee''s defined-benefit plan in the form of a gratuity scheme (a lump sum amount). Benefits under the defined benefit plans are typically based on years of service and the employee''s compensation (immediately before retirement). The gratuity scheme covers all regular employee''s. Actuarial valuation is done based on "Projected Unit Credit" method. Gains and losses of the changed actuarial assumptions are charged to the statement of profit and loss. Gratuity scheme is not funded however, provision as per Accounting Standard 15 has been made in the financial statement.

(i) Loans and advances amounting to Rs. 206,500,000 as shown above, fall under the category of "Long term loans and advances" and are repayable within 2 to 3 years.

(ii) Loans and advances amounting to Rs. 90,000,000 as shown above, fall under the category of "Short term loans and advances" and are repayable within 12 months.

(iii) Loans to employees as per Company''s policy are not considered.

8. As per Accounting Standard 21 on "Consolidated Financial Statements" and Accounting Standard 23 on "Accounting for Investments in Associates in Consolidated Financial Statements" as notified by Companies (Accounting Standards) Rules, 2006, the Company has presented consolidated financial statements, including subsidiaries and associates. Accordingly segment information as required under Accounting Standard 17 on "Segment Reporting" as notified by Companies (Accounting Standards) Rules, 2006, is included under notes to Consolidated Financial Statements.

a. General description of lease term:

i) Lease rentals are charged on the basis of agreed terms.

ii) Asset given on lease over a period of 5 years and 9 years.

9. Contingent Liabilities:

a. Corporate guarantees issued by the Company on behalf of subsidiaries Rs. 225,000,000 (previous year Rs. 787,500,000).

b. Taxation matters in respect of which appeal is pending Rs. 1,659,256 (previous year Rs. 1,132,462).

10. The previous year figures have been regrouped, reworked, rearranged and reclassified, wherever necessary, to be read in relation to the amounts and other disclosures relating to the current year.

11. Disclosure of details as required by revised Para 13 of Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 2007, earlier Para 9BB of Non Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998.

Note:

i) Companies in the same group means companies under the same management as per Section 370(1B) of the Companies Act, 1956.

ii) Investments in case of unquoted shares it is assumed that market value is same as book value.

iii) Previous year figures are indicated in brackets.

12.The Ministry of Corporate Affairs, Government of India, vide General Circular No. 2/2011 and 3/2011 dated 8th February, 2011 and 21st February, 2011 respectively has granted a general exemption from compliance with Section 212 of the Companies Act, 1956, subject to fulfillment of conditions stipulated in the circular. The Company has satisfied the conditions stipulated in the circular and hence is entitled to the exemption. Necessary information relating to the subsidiaries has been included in the Consolidated Financial Statements.


Mar 31, 2013

1.1 As per Accounting Standard 15 "Employee benefits", the disclosures as defined in the Accounting Standard are given below :

Defined Benefit Plan

The Company offers its employee''s defined-benefit plan in the form of a gratuity scheme (a lump sum amount). Benefits under the defined benefit plans are typically based on years of service and the employee''s compensation (immediately before retirement). The gratuity scheme covers all regular employee''s. Actuarial valuation is done based on "Projected Unit Credit" method. Gains and Losses of the changed actuarial assumptions are charged to the statement of profit and loss. Gratuity scheme is not funded however, provision as per Accounting Standard 15 has been made in the financial statement.

2 As per Accounting Standard 21 on "Consolidated Financial Statements" and Accounting Standard 23 on "Accounting for Investments in Associates in Consolidated Financial Statements" as notified by Companies (Accounting Standards) Rules, 2006, the Company has presented consolidated financial statements, including subsidiaries and associates. Accordingly segment information as required under Accounting Standard 17 on "Segment Reporting" as notified by Companies (Accounting Standards) Rules, 2006, is included under Notes to Consolidated Financial Statements.

3 In compliance with Accounting Standard 27 "Financial Reporting of Interest in Joint Venture" the required information is as under:

a. Trinity Ventures is a jointly controlled entity having its place of business in India. The Company is having 10% (previous year 10%) of ownership interest.

b. In respect of jointly controlled entity, the Company''s share of assets, liabilities, income and expenditure of the joint venture is as follows:

4 Contingent Liabilities:

a. Corporate guarantees issued by the Company on behalf of subsidiaries Rs. 787,500,000 (previous year Rs. 795,000,000).

b. Taxation matters in respect of which appeal is pending Rs. 1,132,462 (previous year Rs. 3,356,789).

5 The previous year figures have been regrouped, reworked, rearranged and reclassified, wherever necessary, to be read in relation to the amounts and other disclosures relating to the current year.

6 The Ministry of Corporate Affairs, Government of India, vide General Circular No. 2/2011 and 3/2011 dated 8th February 2011 and 21st February 2011 respectively has granted a general exemption from compliance with Section 212 of the Companies Act, 1956, subject to fulfillment of conditions stipulated in the circular. The Company has satisfied the conditions stipulated in the circular and hence is entitled to the exemption. Necessary information relating to the subsidiaries has been included in the Consolidated Financial Statements.


Mar 31, 2012

1.1 * Term loan from bank of Rs. 80,092,659 (previous year Rs. nil) is secured against properties located at Kalpataru Horizon, Worli, Mumbai - 400018 which is owned by relative of the director.

# These figures do not include any amounts due and outstanding, to be credited to Investor Education and Protection Fund. $ These figures include TD.S. payable Rs. 776,722 (previous year Rs. 2,254,532), profession tax Rs. 2,675 (previous year Rs. 1,950) and service tax payable Rs. nil (previous year Rs. 168,075).

2.1 As per Accounting Standard 15 "Employee benefits", the disclosures as defined in the Accounting Standard is given below: Defined Benefit Plan

The company offers its employees defined-benefit plan in the form of a gratuity scheme (a lump sum amount). Benefits under the defined benefit plans are typically based on years of service and the employee's compensation (immediately before retirement). The gratuity scheme covers all regular employees. Actuarial valuation is done based on "Projected Unit Credit" method. Gains and losses of the changed actuarial assumptions are charged to the profit and loss account. Gratuity scheme is not funded however, provision as per Accounting Standard 15 has been made in the financials.

3 Disclosures of loans and advances in nature of loans given as per clause 32 of listing agreement comprises:

(i) Loans to subsidiary company ITI Capital Holdings Private Limited and Caladium Properties Private Limited is given in note no. 14 above.

(ii) Loans to ITI Capital Holdings Private Limited and Caladium Properties Private Limited are under the category of loans and advances in nature of loans where there is no repayment schedule or are repayable on demand.

(iii) Loans to employees as per company's policy are not considered.

4 As per Accounting Standard 21 on "Consolidated Financial Statements" and Accounting Standard 23 on "Accounting for Investments in Associates in Consolidated Financial Statements" as notified by Companies (Accounting Standards) Rules, 2006, the Company has presented consolidated financial statements, including subsidiaries and associates. Accordingly segment information as required under Accounting Standard 17 on "Segment Reporting" as notified by Companies (Accounting Standards) Rules, 2006, is included under Notes to Consolidated Financial Statements.

5 Disclosure in respect of applicability of Accounting Standard 18 "Related Party Disclosures" as notified by Companies (Accounting Standards) Rules, 2006:

Disclosure in respect of related party transactions during the year:

1 Interest income include ITI Securities Limited Rs. 540,778 (Previous Year Rs. NIL), Classic Mall Development Company Private Limited Rs. 4,992,215 (previous year Rs. NIL).

2 Dividend income include ITI Securities Limited Rs. 3,600,000 (previous year Rs. 3,600,000), Tamarind Tours Private Limited Rs. 22,500,000 (previous year Rs. NIL ) and SAI Consulting Engineers Private Limited Rs. 841,371 (previous year Rs. 2,524,113).

3 Rent paid to Fine Estates Private Limited Rs. 165,454 (previous year Rs. NIL), Prokem Trade and Investments Private Limited Rs. NIL (previous year Rs. 200,000).

4 Interest paid to key managerial personnel Rs. 246,148 (previous year Rs. NIL).

5 Payment to key managerial personnel towards managerial remuneration Rs. 900,000 (previous year Rs. 900,000).

6 Turnover in respect of purchase and sale of shares through ITI Securities Limited Rs. NIL (previous year Rs. 3,833,499) who has acted in its capacity as registered brokers.

7 Purchase/subscription of investments include ITI Capital Holdings Private Limited Rs. 163,125,000 (previous year Rs. NIL), Ramayana Realtors Private Limited Rs. 20,466,700 (previous year Rs. NIL), Picasso Developers Private Limited Rs. 10,233,300 (previous year Rs. NIL), Crest Hospitality Services Private Limited Rs. 50,000 (previous year Rs. NIL), Caladium Properties Private Limited Rs. NIL (previous year Rs. 100,281), Intime Spectrum Commodities Private Limited Rs. NIL (previous year Rs. 1,253,167), Starboard Hotels Private Limited Rs. NIL (previous year Rs. 50,050), Classic Housing Projects Private Limited Rs. 111,200,000 (previous year Rs. NIL).

8 Sale of investments include ITI Capital Holdings Private Limited Rs. NIL (previous year Rs. 132,497,088).

9 Loan taken from key managerial personnel Rs. 65,000,000 (previous year Rs. NIL).

10 Loan given to ITI Securities Limited Rs. 40,000,000 (previous year Rs. NIL), Caladium Properties Private Limited Rs. 55,500,000 (previous year Rs. NIL).

Loan given to Classic Mall Development Company Private Limited Rs. 112,500,000 (previous year Rs. NIL).

Advances in the nature of investments in subsidiaries given to ITI Capital Holdings Private Limited Rs. 20,750,000 (previous year Rs. 170,300,000).

Advances in the nature of investments in subsidiaries returned from ITI Capital Holdings Private Limited Rs. 7,650,000 (previous year Rs. NIL).

Debenture / share application money given to Ramayana Realtors Private Limited Rs. 52,500,000 (previous year Rs. NIL), Starboard Hotels Private Limited Rs. 5,000,000 (previous year Rs. NIL), Crest Hospitality Services Private Limited Rs. 13,650,000 (previous year Rs. NIL) Escort Developers Private Limited Rs. 1,950,000 (previous year Rs. NIL), Picasso Developers Private Limited Rs. 11,500,000 (previous year Rs. NIL).

b. General description of lease term: -

i) Lease rentals are charged on the basis of agreed terms.

ii) Asset given on lease over a period of 5 years and 9 years.

31 In Compliance with AS-27 'Financial Reporting of Interest in Joint Ventures' the required information is as under:

a. Trinity Ventures is a jointly controlled entity having its place of business in India. The Company is having 10% (previous year 10%) of ownership interest.

6 Contingent Liabilities:

a. Corporate guarantees issued by the Company on behalf of subsidiaries Rs. 795,000,000 (previous year Rs. 1,046,800,000).

b. Taxation matters in respect of which appeal is pending Rs. 3,356,789 (previous year Rs. NIL).

7 The revised schedule VI notified under the Companies Act 1956 has become applicable to the Company during the current year. The previous year figures have been regrouped, reworked, rearranged and reclassified, wherever necessary, to conform to revised schedule VI classification and are to be read in relation to the amounts and other disclosures relating to the current year.

8 The Ministry of Corporate Affairs, Government of India, vide General Circular No. 2/2011 and 3/2011 dated 8th February 2011 and 21st February 2011 respectively has granted a general exemption from compliance with section 212 of the Companies Act, 1956, subject to fulfillment of conditions stipulated in the circular. The Company has satisfied the conditions stipulated in the circular and hence is entitled to the exemption. Necessary information relating to the subsidiaries has been included in the Consolidated Financial statements.


Mar 31, 2010

1 Gratuity

The Company is not liable for payment of gratuity to employees as per the provisions of the Gratuity Act and hence no provision for the same has been made in the books.

2 Disclosures of loans and advances in nature of loans given as per clause 32 of listing agreement comprises:

(i) Loans to subsidiary company Intime Spectrum Securities Ltd. and Intime Spectrum Finmart Pvt. Ltd. as given in 4(above. )

(ii) Loans to Intime Spectrum Finmart Pvt. Ltd. are under the category of loans and advances in nature of loans where there is no repayment schedule or are repayable on demand.

(iii) Loans to employees as per Companys policy are not considered.

(iv) Investment made by Intime Spectrum Finmart Pvt. Ltd.(loanee company) in shares of subsidairy :

3 As per Accounting Standard 21 on "Consolidated Financial Statements" and Accounting Standard 23 on "Accounting for Investments in Associates in Consolidated Financial Statements" notified by Companies (Accounting Standards) Rules,2006, the Company has presented consolidated financial statements, including subsidiaries and associates. Accordingly segment information as required under Accounting Standard 17 on "Segment Reporting" as notified by Companies (Accounting Standards) Rules, 2006, is included under Notes to Consolidated Financial Statements.

4 Disclosure in respect of applicability of Accounting Standard 18 "Related Party Disclosures" as notified by Companies (Accounting Standards) Rules, 2006: List of related parties and relationship.

Sr. No. Name of the party Relationship with the company

1 Intime Spectrum Securities Ltd . Subsidiary

2 Intime Spectrum Commodities Pvt. Ltd. Subsidiary

3 Tamarind Tours Pvt. Ltd. Subsidiary

4 Intime Spectrum Finmart Pvt. Ltd. Subsidiary

5 Sharyans Wealth Management Pvt. Ltd. Subsidiary

6 Prebon Yamane (India) Ltd. Subsidiary

7 Collins Stewart India Ltd. Subsidiary

8 ITI Financial Services Ltd. Subsidiary

9 ITI Investor Services Ltd. Subsidiary

10 ITAI Investment Advisory Services Pvt. Ltd. Subsidiary

11 Prokem Trade & Investments Pvt. Ltd. Associate

12 Oracle Securities Pvt. Ltd. Associate

13 Ramayana Realtors Pvt. Ltd. Associate

14 Classic Mall Development Co. Pvt. Ltd. Associate

15 Classic Software Technology Park Developers Pvt. Ltd. Associate

16 Classic Leisures and Hotels Pvt. Ltd Associate

17 Escort Developers Pvt. Ltd. Associate

18 SAI Consulting Engineers Pvt. Ltd. Associate

19 Edelweiss Real Estate Advisors Pvt. Ltd. Associate

20 Picasso Developers Pvt. Ltd. Associate

21 Sharyans Gold Beam Common Control Exists

22 Vijay Choraria Key Managerial Personnel

Details of related party transaction:

Expenditure:

Rent paid:

Prokem Trade & Investments Pvt. Ltd. Rs.3,790,000 (previous year Rs.3,790,000)

Managerial remuneration:

Altaf Wahedna Rs.Nil (previous year Rs.210,000)

Vijay Choraria Rs.900,000 (previous year Rs.900,000)

Turnover in respect of purchase & sale of shares through Intime Spectrum Securities Ltd.Rs.46,120,616

(previous year Rs. 12,454,884) who has acted in its capacity as registered brokers.

Demat Charges to Oracle Securities Pvt. Ltd. Rs.552 (previous year Rs.618)

Income:

Interest income:

Intime Spectrum Securities Ltd. Rs.156,581 (previous year Rs. 349,589)

Issue/Purchase of equity shares

Picasso Developers Pvt. Ltd. Rs.Nil (previous year Rs.12,000,000)

Sharyans Wealth Management Pvt. Ltd. Rs.Nil (previous year Rs. 22,250,000)

Classic Mall Development Co. Pvt. Ltd.Rs.36,729,147 (previous year Rs.Nil)

Loans given:

Intime Spectrum Securities Ltd. Rs. 43,520,000 (previous year Rs. 40,000,000)

Intime Spectrum Finmart Pvt. Ltd. Rs.201,550,000 (previous year Rs. 159,550,000)

Balance as at 31st March, 2010

Deposit given for Premises to Prokem Trade & Investments Pvt. Ltd. Rs. Nil (previous year Rs.15,000,000)

Loan given to Intime Spectrum Finmart Pvt. Ltd. Rs.201,550,000 (previous year Rs. 159,550,000)

Share application monies pending allotment:

Classic Leisures and Hotels Pvt. Ltd.Rs.800,000 (previous year Rs.800,000)

Classic Software Technology Park Developers Pvt. Ltd.Rs.91,400,000 (previous year Rs.30,800,000)

Classic Mall Development Co. Pvt. Ltd.Rs. 18,270,853 (previous year Rs.55,000,000)

Ramayana Realtors Pvt. Ltd.Rs.7,000,000 (previous year Rs.7,000,000)

Picasso Developers Pvt. Ltd. Rs.20,000,000 (previous year Rs.20,000,000)

5. Contigent liabilities

Corporate guarantees issued by the Company on behalf of subsidiaries and associates Rs. 1,196,800,000 (previous year Rs.986,800,000).

Taxation matters in respect of which appeal is pending Rs. 1,229,229 (previous year Rs.1,798,173). This is being disputed by the Company and hence not provided for.

6 Figures of the previous year have been regrouped and/or rearranged wherever necessary.

 
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