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Notes to Accounts of Dhanuka Commercial Ltd.

Mar 31, 2015

Note 1

Corporate Information

The company was incorporated initially as Dhanuka Commercial Pvt. Ltd. at Kolkata,West Bengal on 16th day of November 1994 under the Companies Act 1956. Later, the company shifted its registered office to Delhi pursuant to a special resolution passed by the members of our company at the EGM held on August 11, 2012. An order from the Regional director for change of state consequent to change of registered office from West Bengal to Delhi was issued on October 10,2013 by the Regional Director ,Eastern Region, Kolkata. Subsequently ,the company became a public limited company pursuant to special resolution passed by the members of our company at the EGM held on January 27,2014. A fresh certificate of incorporation consequent to conversion to a public limited company was issued on February 13,2014 by the Registrar of Companies ,Delhi. The company's Corporate Identity Number is L30007DL1994PLC260191 and its Registered office is situated at 61 ,Vats Market ,Near Shiva Market ,Pitam Pura ,Delhi-110034. Earlier, the company was registered with Reserve Bank of India ,Kolkata to carry on NBFC activities under section 45-IA of the Reserve Bank of India Act,1934 bearing Registration No.B.05.05269 dated 28.01.2003. Subsequently, a fresh NBFC certificate consequent to change of registered office was issued by RBI, New Delhi bearing Registration No.-B.14.03301 dated 22.05.2014.

Note 2

Total amount of Secured Car Loan Sanctioned from HDFC Bank is Rs.10,00,000.00/- against which Rs.9,51,934.02/-(Previous year - Rs. NIL/-) is outstanding at year end and is secured against hypothecation of vehicle. The rate of interest charged is 10.00% p.a. (Previous year - NIL p.a.) and is repayable in equal monthly instalments of Rs.32,268.00/-including the amount of interest due thereon.

On the basis of records available with the company, there exists no over dues to micro & small enterprises in terms of Micro, Small & Medium enterprises Development Act,2006(MSMED Act).

Note 3

Related Party Disclosure

As per Accounting Standard-18 on "Related Party Disclosures", related parties of the Company are disclosed below:

A. List of Related Parties:

Directors & their Relatives

* Mr. Mahesh Kumar Dhanuka : Managing Director

* Mr. Gopal Krishan Bansal : Director

* Mr. Sanjeev Mittal : Director

* Mr. Mukesh Bansal : Independent Director

* Mr. Surinder Kumar Bangia : Independent Director

* Ms. Rajni Garg : Independent Director

* Gopal Bansal & Sons HUF : Related Concern

* Ashok Kumar & Sons HUF : Related Concern

* Ashok Kumar Aggarwal : Relative

* Sunita Singla. : Relative

Key Management Personnel (KMP) & Relatives

* Ms. Geeta Goyal : Marketing Head

* Mr. Sunil Goel : Relationship Manager

* Mr. Sunil Jain : Compliance Officer

* Mr. Vinod Kumar Aggarwal : Chief Financial Officer

Note 4

AS-17: Segment Reporting

Based on the guiding principles given in AS - 17 'Segmental Reporting' notified under Companies (Accounting Standard) Rules, 2006, the Company is engaged in the business of Non-Banking Financial activities mainly Trading in securities and providing loans. As the main revenue comes only from NBFC activity so that the segment reporting is not required.

Note 5

AS-20 : Earning per Share

^Basic earning per equity share has been computed by dividing net profit after tax by the weighted average number of equity shares outstanding during the period. There are no potential equity shares outstanding and as such the Diluted earning per share is same as basic earning per share.

Note 6

Pursuant to Companies Act, 2013 ("the Act"), the management based on technical evaluation, has reassessed the useful life of the fixed assets. Consequently, In accordance with the Act, the carrying value of the fixed assessts as at 01st April, 2014 is depreciated over the revised residual life of the fixed assets and where the revised residual life of the fixed assets is NIL as at that date, the carrying value of the fixed assets, after retaining the residual value, has been adjusted to the Retained Earnings. Consequently, Retained Earnings has been reduced by Rs.17143/-.

Note 7

AS-2: Valuation of Inventories

In accordance with Accounting Standard-2 on Valuation of Inventories, As Certified the management of the Company, the Company has the policy of valuing the stock on First-in-First out(FIFO) method and the same has been regularly employed by the company in preparation & presentation of Financial statements.

Note 8

In the opinion of Directors:

(i) The Current Assets and Loans and Advances are approx of the value stated, if realized in the ordinary cource of business,

(ii) The Provision for depreciation and all known liabilities is adequate and is not excess of the amount reasonably necessary.

(iii) No Personal expenses have been charged to revenue account other than expenses under Service Contract Obligation and/ or accepted business practice.

Note 9

The Previous year figure have been reworked, regrouped, rearranged and reclassified wherever necessary. Accordingly, amounts and other disclosure for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.


Mar 31, 2014

Note 1

Corporate Information

The company was incorporated initially as Dhanuka Commercial Pvt. Ltd. at Kolkata,West Bengal on 16th day of November 1994 under the Companies Act 1956. Later, the company shifted its registered office to Delhi pursuant to a special resolution passed by the members of our company at the EGM held on August 11, 2012. An order from the Regional director for change of state consequent to change of registered office from West Bengal to Delhi was issued on October 10,2013 by the Regional Director ,Eastern Region, Kolkata. Subsequently ,the company became a public limited company pursuant to special resolution passed by the members of our company at the EGM held on January 27,2014. A fresh certificate of incorporation consequent to conversion to a public limited company was issued on February 13,2014 by the Registrar of Companies ,Delhi. The company''s Corporate Identity Number is U30007DL1994PLC260191 and its Registered office is situated at 61 ,Vats Market ,Near Shiva Market ,Pitam Pura ,Delhi-110034. Earlier, the company was registered with Reserve Bank of India ,Kolkata to carry on NBFC activities under section 45-IA of the Reserve Bank of India Act,1934 bearing Registration No.B.05.05269 dated 28.01.2003. Subsequently , a fresh NBFC certificate consequent to change of registered office was issued by RBI, New Delhi bearing Registration No.-B.14.03301 dated 22.05.2014.

Note 2

Related Party Disclosure

As per Accounting Standard-18 on "Related Party Disclosures", related parties of the Company are disclosed below: A. List of Related Parties:

Directors & their Relatives

--Mr. Mahesh Kumar Dhanuka : Managing Director

--Mr. Gopal Krishan Bansal : Director

--Mr. Sanjeev Mittal : Director

--Mr. Mukesh Bansal : Director

--Mr. Surinder Kumar Bangia : Additional Director

--Ms. Rajni Garg : Additional Director

--Gopal Bansal & Sons HUF : Related Concern

--Ashok Kumar & Sons HUF : Related Concern

--Ashok Kumar Aggarwal : Relative

--Sunita Singla. : Relative

Key Management Personnel (KMP) & Relatives --Ms. Geeta Goyal : Marketing Head

--Mr. Sunil Goel : Relationship Manager

--Mr. Sunil Jain : Compliance Officer

--Mr. Vinod Kumar Aggarwal : Chief Financial Officer

Note 3

AS-17: Segment Reporting

Based on the guiding principles given in AS - 17 ''Segmental Reporting'' notified under Companies (Accounting Standard) Rules, 2006, the Company is engaged in the business of Non-Banking Financial activities mainly Trading in securities and providing loans. As the main revenue comes only from NBFC activity so that the segment reporting is not required.

Note 4

AS-2: Valuation of Inventories

In accordance with Accounting Standard-2 on Valuation of Inventories , As Certified the management of tha Company, the Company has the policy of valuing the stock on First-in-First out(FIFO) method and the same has been regaulary employed by the company in preparation & presentation of Financial statements.

Note 5

In the opinion of Directors:

(i) The Current Assets and Loans and Advances are approx of the value stated, if realized in the ordinary cource of business,

(ii) The Provision for depreciateion and all known liabilities is adequate and is not excess of the amount reasonably necessary.

(iii) No Personal expenses have been charged to revenue account other than expenses under Service Contract Obligation and/ or accepted business practice.

Note 6

The Previous year figure have been reworked, regrouped, rearranged and reclassified wherever necessary. Accordingly, amounts and other disclosure for the preceding year are included as an integral part of the current year financial statements and are to be read in relation to the amounts and other disclosures relating to the current year.

 
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