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Notes to Accounts of Dhruva Capital Services Ltd.

Mar 31, 2015

1. CONTINGENT LIABILITY :

The Company has received excess refund of income tax amounting to Rs. 194668/- on A/c of excess credit of TDS for A.Y. 2006-07, which has been shown as current liabilities.

2. PROVISION FOR NPA :

In accordance with the guidelines issued by the RBI, the provision of NPA for current year is Rs. NIL.

3. Margin money on account of Leased & Hire Purchase assets represent difference between the purchase value of leased / hire purchase assets and money advanced as loans.

4. The company has been granted certificate of Registration as provided in section 45 IA of the RBI Act 1934 issued on 1-9-1999 but the same is not valid for accepting deposits.

5. No employee is in employment of the Company throughout the financial year for a remuneration which in aggregate exceeded Rs. 60,00,000/- per annum or employed for remuneration which in aggregate exceeded Rs. 5,00,000/- per month, if employed for part of the year.

6. The Company's operations predominantely comprise only of one segment i.e. financial services which include hire purchase, lease, interest on ICD, loans and advances and hence the figures shown are related to only that segment.

(i) DILUTED EARNING PER SHARE :

Diluted earning per share is same as Basic Earning per share as the Company does not have any potential equity shares as defined under AS-20 "Earning Per share" issued by ICAI.

7. Related parties disclosures :

1. Relationship :

(a) Key management personal :

Shri L.S. Karnawat - Chairman

Shri Kailash Karnawat - Managing Director

(b) Other related parties where control exists :

Pathik Hotel & Motel Ltd.

Karnawat Hire Purchase Pvt. Ltd.

Circle View Estate Pvt. Ltd.

Nakul Builders & Developers Pvt. Ltd.

Vardhman Fincon Pvt. Ltd.

Karnawat Brothers

Sampat Automobiles

Kailash Karnawat & Family (HUF)

Laxman Singh Karnawat & Sons (HUF)

Pushpa Devi Karnawat

(c) Relatives of key management personnel and their enterprises where transaction have taken place :

M/s Kailash Karnawat & Family (HUF)

Mrs. Pushpa Devi Karnawat

M/s Sampat Automobiles

Note : Related party relationship is as identified by the Company and relied upon by the Auditors.

2. Transaction carried out with related parties in 1 above in ordinary course of business of the Company.

8. Disclosure as required under Circular No. Ref. DBS. FID. No. C-2 / 01-02-00 / 2003- 04, dt. 10-07-2003 has not been made.




Mar 31, 2014

1. CONTINGENT LIABILITY:

The Company has received excess refund of income tax amounting to Rs. 194668/- on A/c of excess credit of TDS for A.Y. 2006-07, which has been shown as current liabilities.

2. PROVISION FOR NPA:

In accordance with the guidelines issued by the RBI, the provision of NPA for current year is Rs. NIL.

3. Margin money on account of Leased & Hire Purchase assets represent difference between the purchase value of leased/hire purchase assets and money advanced as loans.

4. The company has been granted certificate of Registration as provided in section 45 IA of the RBI Act 1934 issued on 1-9-1999 but the same is not valid for accepting deposits.

5. No employee is in employment of the Company throughout the financial year for a remuneration which in aggregate exceeded Rs. 24,00,000/- per annum or employed for remuneration which in aggregate exceeded Rs. 2,00,000/- per month, if employed for part of the year.

6. The Company''s operations predominantly comprise only of one segment i.e. financial services which include hire purchase, lease, interest on ICD, loans and advances and hence the figures shown are related to only that segment.

7. Earning per share:

DILUTED EARNING PER SHARE:

Diluted earning per share is same as Basic Earning per share as the Company does not have any potential equity shares as defined underAS-20 "Earning Per share" issued by ICAI.

8. Related parties disclosures:

1. Relationship :

(a) Key management personal:

Shri L.S. Karnawat - Chairman

Shri Kailash Karnawat - Managing Director

(b) Other related parties where control exists:

Pathik Hotel & Motel Ltd.

Karnawat Hire Purchase Pvt. Ltd.

Circle View Estate Pvt. Ltd.

Nakul Builders & Developers Pvt. Ltd.

Vardhman Fincon Pvt. Ltd.

Karnawat Brothers

Sampat Automobiles

Kailash Karnawat & Family (HUF)

Laxman Singh Karnawat & Sons (HUF)

Pushpa Devi Karnawat

(c) Relatives of key management personnel and their enterprises where transaction have taken place : M/s Nakul Builders & Developers Pvt. Ltd.

M/s Circle View Estate Pvt. Ltd.

M/s Kailash Karnawat & Family (HUF)

Mrs. Pushpa Devi Karnawat

M/s Sampat Automobiles

Note : Related party relationship is as identified by the Company and relied upon by the Auditors.

2. Transaction carried out with related parties in 1 above in ordinary course of business of the Company.

10. Disclosure as required under Circular No. Ref. DBS. FID. No. C-2 / 01-02-00 / 2003- 04, dt. 10-07-2003 has not been made.


Mar 31, 2013

1. CONTINGENT LIABILITY :

The Company has received excess refund of income tax amounting to Rs. 194668/- on A/c of excess credit of TDS for A.Y. 2006-07, which has been shown as current liabilities.

2. PROVISION FOR NPA :

In accordance with the guidelines issued by the RBI, the provision of NPA for current year is Rs. NIL.

3. Margin money on account of Leased & Hire Purchase assets represent difference between the purchase value of leased / hire purchase assets and money advanced as loans.

4. The company has been granted certificate of Registration as provided in section 45 IA of the RBI Act 1934 issued on 1-9-1999 but the same is not valid for accepting deposits.

5. No employee is in employment of the Company throughout the financial year for a remuneration which in aggregate exceeded Rs. 24,00,000/- per annum or employed for remuneration which in aggregate exceeded Rs. 2,00,000/- per month, if employed for part of the year.

6. The Company''s operations predominantly comprise only of one segment i.e. financial services which include hire purchase, lease, interest on ICD, loans and advances and hence the figures

(ii) DILUTED EARNING PER SHARE :

Diluted earnings per share is same as Basic Earnings per share as the Company does not have any potential equity shares as defined under AS-20 "Earning Per share" issued by ICAI.

7. Related parties disclosures :

1. Relationship :

(a) Key management personal :

Shri L.S. Karnawat - Chairman

Shri Kailash Karnawat - Managing Director

(b) Other related parties where control exists :

Pathik Hotel & Motel Ltd.

Karnawat Hire Purchase Pvt. Ltd.

Circle View Estate Pvt. Ltd.

Nakul Builders & Developers Pvt. Ltd.

Vardhman Fincon Pvt. Ltd.

Karnawat Brothers

Sampat Automobiles

Kailash Karnawat & Family (HUF)

Laxman Singh Karnawat & Sons (HUF)

Pushpa Devi Karnawat

(c) Relatives of key management personnel and their enterprises where transaction have taken place : M/s Nakul Builders & Developers Pvt. Ltd.

M/s Circle View Estate Pvt. Ltd.

M/s Kailash Karnawat & Family (HUF)

Mrs. Pushpa Devi Karnawat

Note : Related party relationship is as identified by the Company and relied upon by the Auditors.

2. Transaction carried out with related parties in 1 above in ordinary course of business of the Company.

NOTES:

1. As defined in Paragraph 2 (1) (xii) of the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998.

2. Provisioning norms shall be applicable as prescribed in the Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998.

3. All Accounting Standards and Guidance Notes issued by ICAI are applicable including for valuation of investments and other assets as also assets acquired in satisfaction of debt. However, market value in respect of quoted investments and break up/fair value/ NAV in respect of unquoted investments should be disclosed irrespective of whether they are classified as long term or current in column (4) above.


Mar 31, 2012

1. CONTINGENT LIABILITY :

The Company has received excess refund of income tax amounting to Rs. 194668/- on A/c of excess credit of TDS for A.Y. 2006-07, which has been shown as current liabilities.

2. PROVISION FOR NPA :

In accordance with the guidelines issued by the RBI, the provision of NPA for current year is Rs. NIL.

3. Margin money on account of Leased & Hire Purchase assets represent difference between the purchase value of leased / hire purchase assets and money advanced as loans.

4. The company has been granted certificate of Registration as provided in section 45 IA of the RBI Act 1934 issued on 1-9-1999 but the same is not valid for accepting deposits.

5. No employee is in employment of the Company throughout the financial year for a remuneration which in aggregate exceeded Rs. 24,00,000/- per annum or employed for remuneration which in aggregate exceeded Rs. 2,00,000/- per month, if employed for part of the year.

6. The Company's operations predominantely comprise only of one segment i.e. financial services which include hire purchase, lease, interest on ICD, loans and advances and hence the figures shown are related to only that segment.

(i) DILUTED EARNING PER SHARE :

Diluted earning per share is same as Basic Earning per share as the Company does not have any potential equity shares as defined under AS-20 "Earning Per share" issued by ICAI.

7. Related parties disclosures :

1. Relationship :

(a) Key management personal :

Shri L.S. Karnawat - Chairman

Shri Kailash Karnawat - Managing Director

(b) Other related parties where control exists :

Pathik Hotel & Motel Ltd.

Karnawat Hire Purchase Pvt. Ltd.

Circle View Estate Pvt. Ltd.

Nakul Builders & Developers Pvt. Ltd.

Vardhman Fincon Pvt. Ltd.

Karnawat Brothers

Sampat Automobiles

Kailash Karnawat & Family (HUF)

Laxman Singh Karnawat & Sons (HUF)

Pushpa Devi Karnawat

(c) Relatives of key management personnel and their enterprises where transaction have taken place : M/s Nakul Builders & Developers Pvt. Ltd.

M/s Circle View Estate Pvt. Ltd.

M/s Kailash Karnawat & Family (HUF)

Mrs. Pushpa Devi Karnawat

31. Disclosure as required under Circular No. Ref. DBS. FID. No. C-2 / 01-02-00 / 2003- 04, dt. 10-07-2003 has not been made.

NOTES :

1. As defined in Paragraph 2 (1) (xii) of the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998.

2. Provisioning norms shall be applicable as prescribed in the Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998.

3. All Accounting Standards and Guidance Notes issued by ICAI are applicable including for valuation of investments and other assets as also assets acquired in satisfaction of debt. However, market value in respect of quoted investments and break up/fair value/ NAV in respect of unquoted investments should be disclosed irrespective of whether they are classified as long term or current in column (4) above.


Mar 31, 2010

1. CONTINGENT LIABILITY :

a) As per Order dt. 27/3/2006 under sec 143 (1 )/154 of the Income Tax Act, the loss has been revised as Rs. 173440/- against the returned loss of Rs. 668410/- and the Company has appealed against the order.

b) The Company has received excess refund of income tax amounting to Rs. 194668/- on A/c of excess credit of TDS for A.Y. 2006-07, which has been shown as current liabilities.

2. Company has sold its investment of 71000 shares in Pathik Hotel & Motel Ltd., Udaipur to M/s Pathik Hotel & Motel Ltd. itself under its buyback offer @ Rs.160/- per share (par value Rs. 100/-) during March 2010. Company has also sold its investment of 150000 shares in Vardhman Fincon Pvt. Ltd. @ Rs. 10/- to M/s Pathik Hotel & Motel Ltd., Udaipur (par value Rs. 10/-) during March, 2010.

3. PROVISION FOR NPA :

In accordance with the guidelines issued by the RBI, the provision of NPA for current year is Rs. NIL.

4. Margin money on account of Leased & Hire Purchase assets represent difference between the purchase value of leased / hire purchase assets and money advanced as loans.

5. The company has been granted certificate of Registration as provided in section 45 IA of the RBI Act 1934 issued on 1 -9-1999 but the same is not valid for accepting deposits.

6. No employee is in employment of the Company throughout the financial year for a remuneration which in aggregate exceeded Rs. 24,00,000/- per annum or employed for remuneration which in aggregate exceeded Rs. 2,00,000/- per month, if employed for part of the year.

7. The Companys operations predominantely comprise only of one segment i.e. financial services which include hire purchase, lease, interest on ICD, loans and advances and hence the figures shown are related to only that segment.

8. Related parties disclosures : 1. Relationship:

(a) Key management personal

Shri L.S. Karnawat - Chairman

Shri Kailash Karnawat - Managing Director

(b) Other related parties where control exists : Pathik Hotel & Motel Ltd.

Karnawat Hire Purchase Pvt. Ltd.

Circle View Estate Pvt. Ltd.

Nakul Builders & Developers Pvt. Ltd.

Vardhman Fincon Pvt. Ltd.

Karnawat Brothers

Sampat Automobiles

Kailash Karnawat & Family (HUF)

Laxman Singh Karnawat & Sons (HUF)

(c) Relatives of key management personnel and their enterprises where transaction have taken place :

M/s Nakul Builders & Developers Pvt.Ltd.

M/s Sampat Automobiles

M/s Kailash Karnawat & Family (HUF)

M/s Laxman Singh Karnawat & Sons (HUF)

Note: Related party relationship is as identified by the Company and relied upon by the Auditors.

9. Disclosure as required under Circular No. Ref. DBS. FID. No. C-2 / 01-02-QO / 2003- 04, dt. 10-07-2003 has not been made.

 
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