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Notes to Accounts of Finkurve Financial Services Ltd.

Mar 31, 2016

1. Contingent liabilities, commitments and event occurring after the balance sheet date:

The management of Company does not anticipate any contingent liability or commitments having material effect on the position stated in the balance sheet at the year-end.

To the best of knowledge of the management, there are no events occurring after the Balance sheet date that provide additional information materially affecting the determination of the amount relating to the conditions existing at the Balance Sheet date that requires adjustment to the Assets or Liabilities of the Company.

2. The information as required to be disclosed in accordance with the provisions of Schedule III of the Companies Act, 2013 have been disclosed to the extent applicable to the Company. In view of the nature of business activity of the Company being of Non Banking Financial Company, other information as required under Schedule III of Companies Act, 2013 are either nil or not applicable to the company for the period under consideration.

DISCLOSURES UNDER ACCOUNTING STANDARDS

3. Segment Information:

The Company has only one reportable business segment, i.e., Financing and other related Activities therefore, no separate disclosure is required in accordance with Accounting Standard [AS]-17 on ''Segment Reporting'' notified by Companies [Accounting Standards] Rules, 2006.


Mar 31, 2015

1. Contingent liabilities, commitments and event occurring after the balance sheet date:

The management of Company does not anticipate any contingent liability or commitments having material effect on the position stated in the balance sheet at the year-end.

To the best of knowledge of the management, there are no events occurring after the Balance sheet date that provide additional information materially affecting the determination of the amount relating to the conditions existing at the Balance Sheet date that requires adjustment to the Assets or Liabilities of the Company.

2. The information as required to be disclosed in accordance with the provisions of Schedule III of the Companies Act, 2013 have been disclosed to the extent applicable to the Company. In view of the nature of business activity of the Company being of Non Banking Financial Company, other information as required under Schedule III of Companies Act, 2013 are either nil or not applicable to the company for the period under consideration.

3. Segment Information:

The Company has only one reportable business segment, i.e., Financing and other related Activities therefore, no separate disclosure is required in accordance with Accounting Standard [AS]-17 on 'Segment Reporting' notified by Companies [Accounting Standards] Rules, 2006.

4. In the opinion of the management, the current assets and loans and advances are not less than as stated, if realized in the ordinary course of business.

5. The Company has followed the guidelines of RBI for Prudential norms wherever applicable.

6. Previous year,s figure have been regrouped / reclassified wherever necessary to correspond with the current year,s classification / disclosure.


Mar 31, 2014

1. BACKGROUND

The company Finkurve Financial Services Limited, formerly known as Sanjay Leasing Limited had changed it''s name during the previous financial year by passing the necessary resolution and other compliances and have been issued new certificate of incorporation by the registrar of companies, Maharashtra, Mumbai on 28th March, 2012.

The Company is a registered Non Banking Financial Company (NBFC) and is carrying on the business activity of NBFC.

Note 2 :

Share Capital

Particulars As at As at 31st March, 2014 31st March, 2013

Authorised:

9.70.00.000 (P.Yr. 15,00,000) 97,000,000 15,000,000 equity shares of Rs. 1/- each (P.Yr. Rs. 10/- each) with voting rights

TOTAL 97,000,000 15,000,000

Issued, Subscribed and Paid up:

9.66.00.000 (P.Yr. 13,80,000) 96,600,000 13,800,000 equity shares of Rs. 1/- each (P.Yr. Rs. 10/- each) with voting rights, fully paid up

TOTAL 96,600,000 13,800,000

ADDITIONAL INFORMATION TO THE FINANCIAL STATEMENTS

3. Contingent Liabilities, commitments and event occurring after the Balance Sheet date:

The management of Company does not anticipate any contingent liability or commitments having material effect on the position stated in the Balance Sheet at the year-end.

To the best of knowledge of the management, there are no events occurring after the Balance Sheet date that provide additional information materially affecting the determination of the amount relating to the conditions existing at the Balance Sheet date that requires adjustment to the Assets or Liabilities of the Company.

4. The information as required to be disclosed in accordance with the provisions of Schedule VI of the Companies Act, 1956 have been disclosed to the extent applicable to the Company. In view of the nature of business activity of the Company being of Non Banking Financial Company, other information as required under Schedule VI of Companies Act, 1956 are either nil or not applicable to the Company for the period under consideration.

DISCLOSURES UNDER ACCOUNTING STANDARDS

5. Segment Information:

The Company has only one reportable business segment, i.e., Financing and other related Activities therefore, no separate disclosure is required in accordance with Accounting Standard [AS]-17 on ''Segment Reporting'' notified by Companies [Accounting Standards] Rules, 2006.

6. Related Party Disclosure:

a) List of Related Parties & Relationship where control exists:

7. In the opinion of the management, the current assets and loans and advances are not less than as stated, if realised in the ordinary course of business.

8. The Company has followed the guidelines of RBI for Prudential norms wherever applicable.

9. Previous year''s figure have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.


Mar 31, 2013

NOTE : 1

A. BACKGROUND

The Company Finkurve Financial Services Limited, formerly known as Sanjay Leasing Limited had changed it''s name during the previous financial year by passing the necessary resolution and other compliances and have been issued new Certificate of Incorporation by the Registrar of Companies, Maharashtra, Mumbai on 28th March, 2012.

The Company is a registered Non Banking Financial Company (NBFC) and is carrying on the business activity of NBFC.

2. Contingent Liabilities, commitments and event occurring after the Balance Sheet date:

The management of Company does not anticipate any contingent liability or commitments having material effect on the position stated in the Balance Sheet at the year-end.

To the best of knowledge of the management, there are no events occurring after the Balance Sheet date that provide additional information materially affecting the determination of the amount relating to the conditions existing at the Balance Sheet date that requires adjustment to the Assets or Liabilities of the Company.

3. The information as required to be disclosed in accordance with the provisions of Schedule VI of the Companies Act, 1956 have been disclosed to the extent applicable to the Company. In view of the nature of business activity of the Company being of Non Banking Financial Company, other information as required under Schedule VI of Companies Act, 1956 are either nil or not applicable to the Company for the period under consideration.

DISCLOSURES UNDER ACCOUNTING STANDARDS

4. Segment Information:

The Company has only one reportable business segment, i.e., Financing and other related Activities therefore, no separate disclosure is required in accordance with Accounting Standard [AS]-17 on ''Segment Reporting'' notified by Companies [Accounting Standards] Rules, 2006.

5. In the opinion of the management, the current assets and loans and advances are not less than as stated, if realised in the ordinary course of business.

6. The Company has followed the guidelines of RBI for Prudential norms wherever applicable.

7. Previous year''s figure have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.


Mar 31, 2012

COMPANY OVERVIEW

The company Finkurve Financial Services Limited, formerly known as Sanjay Leasing Limited have changed it's name during the year by passing the necessary resolution and other compliances and have been issued new certificate of incorporation by the Registrarof Companies, Maharashtra, Mumbai on 28,h March 2012.

The Company is a Registered Non Banking Financial Company (NBFC) and is carrying on the business activity of NBFC.

1.1 Contingent liabilities, commitments and event occurring afterthe Balance Sheet date:

The management of Company does not anticipate any contingent liability or commitments having material effect on the position stated in the balance sheet at the year-end.

To the best of knowledge of the management, there are no events occurring after the Balance sheet date that provide additional information materially affecting the determination of the amount relating to the conditions existing at the Balance Sheet date that requires adjustment to the Assets or Liabilities of the Company.

1.2 Disclosure underSection 22 of the Micro, Small and Medium Enterprises Development Act, 2006:

Based on the information available with the Company and verbal confirmation obtained from the parties, there were no Micro, Small and Medium Enterprises as defined under "The Micro, Small and Medium Enterprises Development Act, 2006" to whom company owes any sum which is outstanding for more than 30 days or there is no delay in payment to such an undertaking during the year.

1.3 The information as required to be disclosed in accordance with the provisions of Schedule VI of the CompaniesAct, 1956 have been disclosed to the extent applicable to the Company. In view of the nature of business activity of the Company being of Non Banking Financial Company, other information as required under Schedule VI of CompaniesAct, 1956 are either nil or not applicable to the company for the period under consideration.

2. DISCLOSURES UNDER ACCOUNTING STANDARDS

2.1 Segment Information:

The Company has only one reportable business segment, i.e., Financing and other related Activities therefore, no separate disclosure is required in accordance with Accounting Standard [AS]-17 on 'Segment Reporting' notified by Companies [Accounting Standards] Rules, 2006.

The company has recognised deferred tax assets on unabsorbed depreciation and brought forward business losses based on the Management's estimates of future activity and profits of the company and based on virtual certainty that the assets will be realised in future.

2.2 The balances of Unsecured Loans, Creditors, Debtors and Loans and Advances are subject to confirmation and reconciliation, ifany.

2.3 In the opinion of the management, the current assets and loans and advances are not less than as stated, if realised in the ordinary course of business. ,

2.4 The Company has followed the guidelines of RBI for Prudential norms wherever applicable.

2.5 The revised Schedule VI has become effective from 1st April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figure have been regrouped / reclassified wherever necessary to correspond with the current year's classification /disclosure.


Mar 31, 2010

1. Claims against the company not acknowledged, as debts are Rs. Nil.

2. Expenditure in Foreign Currency- Rs. Nil.

3. Earnings in Foreign Currency - Rs. Nil.

4. The company does not carry on any manufacturing activities hence particulars as required by para 4C and 4D of part II of Schedule Vl of the Companies Act,1956 are not given.

5. In the opinion of the Board of Directors;

(a) The Current Assets and Loans and Advances are approximately of the value stated, if realised in the ordinary course of business.

(b) The provision for depreciation and for all known liabilities is adequate and not in excess of the amount reasonably necessary.

6. The Company has followed the guidelines of RBI for Prudential norms wherever applicable.

7. In line with Accounting Standard on Segment Reporting (AS-17) the Company has identified Financing and Real Estate as reportable business segment taking into account organization structure, Financing Business comprise of Lending, Hire Purchase financing etc. & Real Estate business comprises of Purchase, Sale, and investment in real estate.

8. Related Party Disclosures

a) List of Related Parties and Relationships

Nature of Relationship Party Category A : Key Management Personel Mr. Narpatraj B. Mehta Mr. Rajeev H. Surana Mr. Kamlesh B. Jain Mr. Sanjay P. Bafna Mr. Chintain B. Seth Category B : Companies in which individuals Shivsita Garments Pvt. Ltd referred to in category A is Director Veesita Estate Pvt. Ltd Sisodiya Investments Pvt. Ltd

Category C : Concern in which individuals referred Siddhant Investment to in category A is proprietor/Partner. Navkar Associates India

9. Figures relating to previous year have been rearranged and regrouped wherever necessary to make them comparable with the current years figure


Mar 31, 2003

1. Claims against the company not acknowledged as debts are Rs.Nil.

2. Expenditure in Foreign Currency - Rs. Nil.

3. Earnings in Foreign Currency - Rs. Nil.

4. The company does not carry on any manufacturing activities hence particulars as required by para 4C and 4D of part II of Schedule VI of the Companies Act, 1956 are not given.

5. In the opinion of the Board of Directors;

(a) The Current Assets and Loans and Advances are approximately of the value stated, if realised in the ordinary course of business.

(b) The provision for depreciation and for all known liabilities is adequate and not in excess of the amount reasonably necessary.

6. The Company has followed the guidlines of RBI for Prudential norms wherever applicable.

7. In line with Accounting Standard on Segment Reporting (AS-17) the Company has identified Financing and Real Estate as reportable business segment taking into account organization structure, Financing Business comprise of Lending, Hire Purchase financing etc. & Real Estate business comprises of Purchase, Sales, and investment in real estate.

8. Releated Party Disclosures a) List of Related Parties and Realtionship

Nature of Relationship Party

Category A: Key Management Personnel Mr. Narpatraj B. Mehta Mr. Rajeev H. Surana Mr. Lalit G. Singhvi Mr. Sanjay P. Bafna

Category B : Relatives of Key Management Personal Mr. Pukhraj C. Bafna Mrs. Sobha R. Surana Mrs. Sita P. Bafna Mr. Ajay P. Bafna

Category C : Companies in which Mehul Estate Pvt. Ltd individuals referred to Kastur B. Industries Pvt. Ltd. in catgeory B is Harisita Hotel Pvt. Ltd. Director Rocky S. Fashion Ltd. Sisodiya Investments Pvt. Ltd.

Category D : Proprietary Concern in Vee Pee Enterprises which individuals referred to in category B is proprietor.

9. Figured relating to previous year have been rearranged and regrouped wherever necessary to make them comparable with the current years figure.