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Notes to Accounts of Easy Fincorp Ltd.

Mar 31, 2014

1. Terms / rights attached to equity shares

(a) The Company has Two class of shares:

(i) Equity shares having a par Value of Rs. 10/- per Share. Each holder of equity shares is entitled to one Vote per share.

(ii) 1% Redemable Preference shares having a par Value of 100/- per Share redeemable on 30th October, 2016.

(b) The dividend on equity shares proposed by Board of Directors is subject to approval of shareholders in the ensuing Annual General Meeting.

(c) In the event of liquidation of the company, the holders of equity shares will be entitled to receive the 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

(d) The company has not issued any bonus shares or bought back the equity shares in the last 5 years immediately preceding the balance sheet date.

2. Contingent Liabilities As At As At 31.03.2014 31.03.2013

i) Income Tax Matter Rs.7,88,600 Rs.7,88,600

ii) Dividend Arrears of 1% Redeemable Cumulative Preference Shares Rs.71,25,000 Rs.66,50,000

3. Deferred Tax :

The Company has not recorded cumulative net deferred tax assets as of 31.03.2014 in view of uncertainty of reversal of the same in immediate future.

4. Segment Reporting

As the Company has only one reportable segment, segment reporting as per Accounting Standard - 17 is not applicable.

5. Previous year figures have been regrouped and / or reclassified wherever necessary to correspond with current year''s classification / disclosure in consonance with the revised schedule VI of the Companies Act, 1956.


Mar 31, 2013

1. Contingent Liabilities As At As At

31.03.2013 31.03.2012

i) Income Tax Matter Rs.788,600 Rs.788,600

ii) Dividend Arrears of 1% Redeemable Cumulative Rs.6,650,000 Rs.6,175,000 Preference Shares

2. Deferred Tax :

The Company has not recorded cumulative net deferred tax assets as of 31.03.2013 in view of uncertainty of reversal of the same in immediate future.

3. Segment Reporting

As the Company has only one reportable segment, segment reporting as per Accounting Standard - 17 is not applicable.

4. Previous year figures have been regrouped and / or reclassified wherever necessary to correspond with current year''s classification.


Mar 31, 2012

NOTE [1.1]

Terms / rights attached to equity shares

(a) The Company has Two class of shares:

(i) Equity shares having a par Value of Rs.10/- per Share. Each holder of equity shares is entitled to one Vote per share.

(ii) 1% Redemable Preference shares having a par Value of Rs. 100/- per Share redeemable on 22nd November, 2012.

(b) The dividend on equity shares proposed by Board of Directors is subject to approval of shareholders in the ensuing Annual General Meeting.

(c) In the event of liquidation of the company, the holders of equity shares will be entitled to receive the 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

(d) The company has not issued any bonus shares or bought back the equity shares in the last 5 years immediately preceding the balance sheet date.

2. Contingent Liabilities As At As At

31.03.2012 31.03.2011

i) Income Tax Matter Rs.788,600 Rs.788,600

ii) Dividend Arrears of 1% Redeemable Cumulative Rs.6,175,000 Rs.5,700,000 Preference Shares

3. Deferred Tax:

The Company has not recorded cumulative net deferred tax assets as of 31.03.2012 in view of uncertainty of reversal of the same in immediate future.

4. Segment Reporting

As the Company has only one reportable segment, segment reporting as per Accounting Standard - 17 is not applicable.

5. Previous year figures have been regrouped and / or reclassified wherever necessary to correspond with current year's classification / disclosure in consonance with the revised schedule VI of the Companies Act, 1956.


Mar 31, 2011

1. Contingent Liabilities As At As At

31.03.2011 31.03.2010

i) Income Tax Matter Rs.7,88,600 Rs.7,88,600

ii) Dividend Arrears of 1 % Redeemable Cumulative Rs.52,25,000 Rs.47,50,000 Preference Shares

2. Deferred Tax :

The Company has not recorded cumulative net deferred tax assets as of 31.03.2011 in view of uncertainty of reversal of the same in immediate future.

3. Related Party Disclosure

In accordance with the "Accounting Standard 18 - Related Party Disclosure", the Company has compiled and certified the required information as stated below;

4. Segment Reporting

As the Company has only one reportable segment, segment reporting as per Accounting Standard - 17 is not applicable.

5. The figures of the previous year have been regrouped and rearranged wherever necessary.


Mar 31, 2010

1. Contingent Liabilities As At As At

31.03.2010 31.03.2009

i) Income Tax Matter Rs.788,600 Rs.788,600

ii) Dividend Arrears of 1% Redeemable Cumulative Rs.4,750,000 Rs.4,275,000

Preference Shares

2. Deferred Tax:

The Company has not recorded cumulative net deferred tax assets as of 31.03.2009 in view of uncertainty of reversal of the same in immediate future.

3. Segment Reporting

As ihe Company has only one reportable segment, segment reporting as per Accounting Standard - 17 is applicable.

4. The figures of the previous year have been regrouped and rearranged wherever necessary.

 
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