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Notes to Accounts of Dharani Finance Ltd.

Mar 31, 2014

1. Background of the Company

The Company is a registered Public Limited Company engaged in the business of NBFC activities and registered as a NBFC with Reserve Bank of India. In addition the Company is also engaged in providing travel and tourism services.

2. 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.

During the year ended 31 March 2014, the amount of per share dividend recognized as distributions to equity shareholders was Rs.NIL (31 March 2013: Rs. NIL).

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.

3. Stock on hire is stated at agreement values less amounts received. Stock on hand (traded goods) are valued at lower of cost and market value.

In respect of certain vehicles financed under Hire Purchase Scheme, ownership has not been transferred in the name of hirers.

4. Previous year''s figures have been regrouped, recast and reclassified wherever necessary.

5. The Company has followed Prudential Norms for Income Recognition and Provisioning for Bad & Doubtful Assets as prescribed by the Reserve Bank of India for Non Banking Financial Companies during the year.

5. Lease Terminal adjustment account has been shown as a deduction from net block of Fixed assets as per the guidance note of ICAI.

6. Provision for Non- performing Assets as detailed below has been made as per RBI norms, and has been shown separately in the Balance Sheet.

7. Dues to Small- Scale Industrial undertakings

The company has no outstanding dues to small-scale industrial undertakings as on 31st March 2014 and 31st March 2013.


Mar 31, 2013

1. Background of the Company

The Company is a registered public limited Company engaged in the business of NBFC activities and registered as a NBFC with Reserve Bank of India. In addition the Company is also engaged in providing Travel and Tourism Services.

2.1. Previous year''s figures have been regrouped, recast and reclassified wherever necessary.

2.2. The Company has followed Prudential Norms for Income Recognition and Provisioning for Bad & Doubtful Assets as prescribed by the Reserve Bank of India for Non Banking Financial Companies during the year.

2.3. Related Party disclosures: (a) Name of Related Parties.

Associate Companies M/s. Dharani Sugars & Chemicals Ltd

M/s.Appu Hotels Ltd. M/s. PGP Educational & Welfare Society M/s. Dharani Credit and Finance Private Ltd M/s. PGP Hotels and Resorts India Private Ltd

Key Management Personnel Dr.Palani G Periasamy-Chairman

Mrs. Visalakshi Periasamy- Director Mr.KKandasamy- Managing Director

2.4. Other Income (Income - Finance Operations) includes Rs. 37,261/- received at the time of surrender of all the available Foreign Exchange as per Reserve Bank of India''s directions (previous year Rs.(66,568/-) representing income / (loss) from Forex operations in the status of Money Changer.

2.5. Lease Terminal adjustment account has been shown as a deduction from net block of Fixed assets as per the guidance note of ICAI.

2.6. Provision for Non- performing Assets as detailed below has been made as per RBI norms, and has been shown separately in the Balance Sheet.

2.7. Dues to Small- Scale Industrial undertakings

The company has no outstanding dues to small-scale industrial undertakings as on 31st March 2013and31st March 2012


Mar 31, 2012

1. Background of the company

The company is a registered public limited company engaged in the business of NBFC activities and registered as a NBFC with Reserve Bank of India. In addition the company is also engaged in providing Travel and Tourism services.

2. SHARE CAPITAL

a) 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.

During the year ended 31 March 2012, the amount of dividend recognized as distributions to equity shareholders was Rs. 34,98,040/- (31 March 2011: Rs. 24,98,600/-).

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.

3.1 Stock on hire is stated at agreement values less amounts received. Stock on hand (traded goods) are valued at lower of cost and market value.

In respect of certain vehicles financed under Hire Purchase Scheme, ownership has not been transferred in the name of hirers.

3.2 Rates & Taxes includes a sum of Rs. NIL being taxes paid in respect of earlier years (Rs. 6.64 Lakhs).

3.3 Previous year's figures have been regrouped, recast and reclassified wherever necessary.

3.4 The Company has followed Prudential Norms for Income Recognition and Provi- sioning for Bad & Doubtful Assets as prescribed by the Reserve Bank of India for Non Banking Financial Companies during the year.

3.5 Related Party disclosures (a) Name of Related Parties

Associate Companies M/s. Dharani Sugars & Chemicals Ltd

M/s. Appu Hotels Ltd. M/s. PGP Educational & Welfare Society Dharani Credit & Finance (P) Ltd PGP Hotels & Resorts India Private Ltd

Key Management Personnel

Dr.Palani G Periasamy - Chairman

Mrs. Visalakshi Periasamy - Director

Mr.K Kandasamy - Managing Director

3.6 Other Income (Income - Finance Operations) includes Rs. 66,568/- (previous year Rs. 3,901/-) representing increase in the rupee value of foreign currency held, in the status of Money Changer.

3.7 Lease Terminal adjustment account has been shown as a deduction from net block of Fixed assets as per the guidance note of ICAI.

3.8 Dues to Small-Scale Industrial undertakings

The company has no outstanding dues to small-scale industrial undertakings as on 31st March 2012 and 31st March 2011.

4. The Financial Statements for the year ended March 31, 2011 were prepared as per the then applicable, pre revised Schedule - VI to the Companies Act, 1956. The Financial Statements for the year ended March 31, 2012 have been prepared as per the revised Schedule - VI. Accordingly, the previous year's figures have been reclassified to conform to current year's classification.


Mar 31, 2011

1. Stock on hire is stated at agreement values less amounts received.

In respect of certain vehicles financed under Hire Purchase Scheme, ownership has not been transferred in the name of hirers.

2. Rates & Taxes includes a sum of Rs. 6.64 lakhs being taxes paid in respect of earlier years (Rs. NIL)

3. Previous year's figures have been regrouped, recast and reclassified wherever necessary.

4. The Company has followed Prudential Norms for Income Recognition and Provisioning for Bad & Doubtful Assets as prescribed by the Reserve Bank of India for Non Banking Financial Companies during the year.

5. Related Party disclosures :

(a) Name of Related Parties.

Associate Companies M/s. Dharani Sugars and Chemicals Limited

M/s.Appu Hotels Limited

M/s. PGP Educational & Welfare Society

M/s.PGP Hotels & Resorts India Pvt. Ltd.

Key Management Personnel Dr.PalaniGPeriasamy-Chairman

Mrs. Visalakshi Periasamy- Director

Mr. K Kandasamy- Managing Director

6. Other Income (Income - Finance Operations) includes Rs. (3,901/-) (previous year - Rs.14,403/-) representing income/(loss) from Forex operations fn the status of Money Changer.

7. Lease Terminal adjustment account has been shown as a deduction from net block of Fixed assets as perthe guidance note of ICAI.

8. Disclosure as per AS - 15 (Revised) 'Employee benefits for the year ended 31.03.2011.

The present value of obligation towards compensated absences, as per actuarial certificate, as on 31.03.2011 was Rs. 3,50,645/- and is provided for in the books of accounts.

9. Dues to Small-Scale Industrial undertakings

The Company has no outstanding dues to small-scale industrial undertakings as on 31st March 2011 and 31st March 2010.


Mar 31, 2010

1. Stock on hire is stated at agreement values less amounts received.

In respect of certain vehicles financed under Hire Purchase Scheme, ownership has not been transferred in the name of hirers.

2. Rates & Taxes includes a sum of Rs. Nil (Previous year - Rs. 8493/-) being the interest for delayed remittance of tax.

3. Previous years figures have been regrouped, recast and reclassified wherever necessary.

4. The Company has followed Prudential Norms for Income Recognition and Provisioning for Bad & Doubtful Assets as prescribed by the Reserve Bank of India for Non Banking Financial Companies during the year.

5. Related Party disclosures :

(a) Name of Related Parties.

Associate Companies M/s. Dharani Sugars and Chemicals Limited

M/s, Appu Hotels Limited

M/s. PGP Educational & Welfare Society

Key Management Personnel Dr.Palani G Periasamy - Chairman

Mrs. Visalakshi Periasamy - Director

Mr. K Kandasamy - Managing Director

6. Other Income (Income - Finance Operations) includes Rs. (14,403) (previous year - Rs. 1,09,279/-) representing income / (loss) from Forex operations in the status of Money Changer.

7. Lease Terminal adjustment account has been shown as a deduction from net block of Fixed assets as per the guidance note of ICAI.

8. Dues to Small- Scale Industrial undertakings The Company has no outstanding dues to small-scale industrial undertakings as on 31 st March 2010 and 31 st March 2009.

 
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