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Notes to Accounts of Frontline Securities Ltd.

Mar 31, 2015

1. RELATED PARTY DISCLOSURE

Following disclosures are made as per Accounting Standard 18, regarding "Related Party Disclosures" as notified by the Companies Accounting Standard Rules (2006):

(A) List of Related Parties

(i) Wholly Owned Subsidiary:

Nil

(ii) Fellow Subsidiary:

Nil

(iii) Enterprise for which Reporting Enterprise is an Associate:

Hope Consultants Ltd.

(iv) Individual having significant influence or control

Mr Rakesh K Jain

(v) Relatives of individual having significant influence or control

Ms. Aridhi Jain

(vi) Key Management Personnel:

Mr. Gauri Shanker Pandey

Mr. Avinash Chandra (Resigned Effective 13.04.2015)

CS Ekta Karwa (Appointed Effective 13.04.2015)

CA Bhawna Grover

(vii) List of companies/enterprises, in which any of person (including any of relative), listed in (iv),(v) & (vi) have

significant influence or control

1. Hope Consultants Limited

2. FSL Software Technologies Limited

3. Wonder Buildtech Private Limited

4. Frontline Commodities & Derivatives Private Limited

5. Petal Consultants Private Limited

6. Association of National Exchange Members of India

7. FSL Education Services Private Limited

8. FSL Consultants Private Limited

9. Jain Singhal & Associates

10. JSA Advisors LLP

11. Frontline Capital Services Limited

12. Front Investments & Financial Consultants LLP

2. QUANTITATIVE DETAILS

The Company is engaged in financial consultancy,distribution of financial products and investments in financial securities. As the company is niether a manufacturing company nor a trading company therefore the requirement of Quantative Detail of Purchases and Sales are not applicable.

3. DUES TO MICRO SMALL AND MEDIUM ENTERPRISES

The company has no dues to micro and small enterprises during the year ended 31 March, 2015 and March 31, 2014.

4. RETIREMENT BENEFITS

A) GRATUITY

The employees' Group Gratuity Scheme is managed by Life Insurance Corporation of India. The present value of obligation is determined based on actuarial valuation using the Projected Unit credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

1. The company on suo moto has recognised the gratuity expense of Rs. 79587 in FY 14-15.

2. As per the prudence concept, the company has not recognised asset of gratuity in the balance sheet for FY 14-15. The amount of premium paid to LIC for the purpose of gratuity amounting to Rs 57,414 is booked as gratuity payable during the year.

5. The Basic and Diluted Earning Per Share have been computed by dividing the Profit After Tax by the weighted average number of equity share for respective periods as specified by AS 20 issued by Institute of Chartered Accountants of India (ICAI).


Mar 31, 2014

1.1 RELATED PARTY DISCLOSURE

Following disclosures are made as per Accounting Standard 18, regarding "Related Party Disclosures" as notified by the Companies Accounting Standard Rules (2006):

(A) List of Related Parties

(i) Wholly Owned Subsidiary:

Nil

(ii) Fellow Subsidiary:

Nil

(iii) Enterprise for which Reporting Enterprise is an Associate:

Nil

(iv) Individual having significant influence or control

Mr Rakesh K Jain

(v) Relatives of individual having significant influence or control

Ms. Aridhi Jain

(vi) Key Management Personnel:

Mr. Gauri Shanker Pandey Mr. Avinash Chandra CA. Bhawna Grover

(vii) List of companies/enterprises, in which any of person (including any of relative), listed in (iv),(v) & (vi) have significant influence or control

1. Hope consultants Limited

2. FSL Software Technologies Limited

3. Wonder Buildtech Private Limited

4. Frontline Commodities & Derivatives Private Limited

5. Petal Consultants Private Limited

6. Front Investments & Financial Consultants Private Limited

7. Vardhman Electricals Private Limited

8. FSL Education Services Private Limited

9. FSL Consultants Private Limited

10. Jain Singhal & Associates

11. JSA Advisors LLP

12. Frontline Capital Services Limited

During the year, Hope Consultants Limited & Frontline Capital Services Limited has participated in the share buy-back programme conducted by Frontline Securities Limited in which Hope Consultants Limited surrenderred 6 lac shares & received proceeds of Rs. 1.95 Crore (Rupees One Crore Ninety Five Lacs ) & Frontline Capital Services Limited surrenderred 7.25 lac shares & received proceeds of Rs. 2.36 Crore (Rupeees Two Crore Thirty Six Lacs ) from Frontline Securities Limited.

1.2 QUANTITATIVE DETAILS

The Company is engaged in financial consultancy, distribution of financial products and investments in financial securities. As the company is niether a manufacturing company nor a trading company therefore the requirement of Quantative Detail of Purchases and Sales are not applicable.

1.3 DUES TO MICRO SMALL AND MEDIUM ENTERPRISES

The company has no dues to micro and small enterprises during the year ended 31 March, 2014 and March 31,2013.

1.4 RETIREMENT BENEFITS

A) GRATUITY

The employees'' Group Gratuity Scheme is managed by Life Insurance Corporation of India. The present value of obligation is determined based on actuarial valuation using the Projected Unit credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

B) Leave accumulated during the year lapse on the balance sheet date and thus no provision for leave encashment is made.

C) Contribution to provident fund is made monthly at predetermined rates to the appropriate authorities.

1.4.2 The Basic and Diluted Earning Per Share have been computed by dividing the Profit After Tax by the weighted average number of equity share for respective periods as specified by AS-20 issued by Institute of Chartered Accountant of India (ICAI).

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 the Institute of Chartered Accountants of India (''ICAI'') are applicable including for calculation of investments and other assets as also assets acquired in satisfaction of debts. 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 of current in category 5 above.


Mar 31, 2013

CORPORATE INFORMATION

Frontline Securities Limited provides a wide range of fnancial consultancy services including Mutual Fund Distribution and other fnancial products distribution services. Company also does investments in various fnancial products. The Company''s full service portfolio consists of fnancial product distribution, providing fnancial consultancy to corporates & individuals and investment in various fnancial products.

The Company''s registered offce is in Delhi and also provides services from the Branch offce situated at Noida.

1.1 RELATED PARTY DISCLOSURE

Following disclosures are made as per Accounting Standard 18, regarding "Related Party Disclosures" as notifed by the Companies Accounting Standard Rules (2006):

(A) List of Related Parties

(i) Wholly Owned Subsidiary:

Nil

(ii) Fellow Subsidiary:

Nil

(iii) Enterprise for which Reporting Enterprise is an Associate:

Nil

(iv) Individual having signifcant infuence or control

Mr Rakesh K Jain

(v) Relatives of individual having signifcant infuence or control

Mrs Prerna Jain Ms Vidha Jain Ms Aridhi Jain

(vi) Key Management Personnel:

Mr. Gauri Shanker Pandey

Mrs. Sarabjeet Kaur (resigned w.e.f. 16.03.2013)

Mr. Avinash Chandra

(vii) List of companies/enterprises, in which any of person (including any of relative), listed in (iv),(v) & (vi) have signifcant infuence or control

1. Hope consultants Limited

2. FSL Software Technologies Limited

3. Wonder Buildtech Private Limited

4. Frontline Commodities & Derivatives Private Limited

5. Petal Consultants Private Limited

6. Front Investments & Financial Consultants Private Limited

7. Vardhman Electricals Private Limited

8. FSL Education Services Private Limited

9. FSL Consultants Private Limited

10. Jain Singhal & Associates

11. JSA Advisors LLP

12. Frontline Capital Services Limited

* Mrs Sarabjeet Kaur resigned from the post of Whole Time Director & Company Secretary w.e.f 16.03.2013

** Mr. Gauri Shanker Pandey has been appointed as Whole Time Director w.e.f 16.03.2013. He has been paid an amount of Rs. 7,90,500/- for the F.Y. 2012-13 as salary which includes amount of Rs.34,950/- paid to him as remuneration for the period 16.03.2013 to 31.03.2013.

*** Mr. Avinash Chandra has been appointed as Company Secretary & Compliance Offcer w.e.f 16.03.2013. He has been paid an amount of Rs. 74,312/- for the period from 01.11.2012 to 31.03.2013 as salary which includes amount of Rs.8,453/- paid to him as remuneration for the period 16.03.2013 to 31.03.2013.

1.2 QUANTITATIVE DETAILS

The Company is engaged in fnancial consultancy, distribution of fnancial products and investments in fnancial securities. As the company is niether a manufacturing company nor a trading company therefore the requirement of Quantative Detail of Purchases and Sales are not applicable.

1.3 DUES TO MICRO SMALL AND MEDIUM ENTERPRISES

The company has no dues to micro and small enterprises during the year ended 31 March, 2013 and March 31, 2012.

1.4 RETIREMENT BENEFITS

A) GRATUITY

The employees'' Group Gratuity Scheme is managed by Life Insurance Corporation of India. The present value of obligation is determined based on actuarial valuation using the Projected Unit credit Method, which recognizes each period of service as giving rise to additional unit of employee beneft entitlement and measures each unit separately to build up the fnal obligation.


Mar 31, 2012

1.1 RELATED PARTY DISCLOSURE

Following disclosures are made as per Accounting Standard 18, regarding "Related Party Disclosures" as notified by the Companies Accounting Standard Rules (2006):

(A) List of Related Parties

(i) Wholly Owned Subsidiary:

Nil

(ii) Fellow Subsidiary:

Nil

(iii) Enterprise for which Reporting Enterprise is an Associate:

Nil

(iv) Individual having significant influence or control

Mr Rakesh K Jain Ms Prerna Jain

(v) Relatives of individual having significant influence or control

Ms Vidha Jain Ms Aridhi Jain

(vi) Key Management Personnel:

Ms. Sarabjeet Kaur

(vii) List of companies/enterprises, in which any of person (including any of relative), listed in (iv),(v) & (vi) have significant influence or control

1. Hope Consultants Limited

2. FSL Software Technologies Limited

3. Wonder Buildtech Private Limited

4. Frontline Commodities & Derivatives Private Limited

5. Petal Consultants Private Limited

6. Front Investments & Financial Consultants Private Limited

7. Vardhman Electricals Private Limited

8. FSL Education Services Private Limited

9. FSL Consultants Private Limited

10. Jain Singhal & Associates

11. JSA Advisors LLP

12. Frontline Capital Services Limited

1.2 QUANTITATIVE DETAILS

The Company is engaged in financial consultancy,distribution of financial products and investments in financial securities. As the company is not a manufacturing company and cannot be expressed in any generic unit. Hence, it is not possible to give the quantitative details of sales and certain information as required under paragraph 5(viii)( c ) of general instructions for preparation of the statement of profit and loss as per revised schedule VI to the Companies Act, 1956.

1.3 DUES TO MICRO SMALL AND MEDIUM ENTERPRISES

The company has no dues to micro and small enterprises during the year ended 31, 2012 and March 31, 2011.

1.4 RETIREMENT BENEFITS

A) GRATUITY

The employees' Group Gratuity Scheme is managed by Life Insurance Corporation of India. The present value of obligation is determined based on actuarial valuation using the Projected Unit credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.


Mar 31, 2011

1. In the opinion of the Board, the current assets, loans and advances have a value on realisation in the ordinary course of business, at least equal to the aggregate amount as shown in the Balance sheet.

2 A)

(i) Expenditure in foreign currency: Rs. Nil [Previous year Rs. Nil]

(ii) Earning in foreign currency: Rs. Nil [Previous year Rs. Nil]

3. Income Tax

Company has accounted for Deferred Tax in accordance with Accounting Standard- 22 (AS-22) "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India and accordingly deferred tax assets and liabilities are recognized.

4 EARNING PER SHARE (EPS)

The numerator and denominator used to calculate the basic / diluted earning per share.

5. Loans and advances include Rs. 5,000,000/- (Previous year Rs. 5,000,000/-) given as interest bearing cash margin to M/s Frontline Capital Services Limited, a member of national stock exchange being the company under the same management as defined under section 370(1B) of the Companies Act 1956 and the maximum amount outstanding during the year at any time Rs. 5,000,000/- (Previous year Rs. 5,000,000/-).

6. There are no amounts payable to any small scale industrial undertaking registered under Micro, Small and Medium Enterprises Development Act 2006.

7. Estimated amount of contract remaining to be executed on capital and not provided for (Net of advance) is Rs. NIL (Previous Year Rs. NIL).

8. The main business of the company is financial consultancy, investment and finance. All other activities of the company revolve around the main business. As such, there are no separate reportable segments, as per accounting standard on Segment Reporting (AS-17), issued by the ICAI.

9. RELATED PARTY DISCLOSURE

A. List of Related Parties and description of Relationship

1. Investing party in respect of which Frontline Capital Services company is an associate Limited

2. Individuals having significant influence Mr. Rakesh K. Jain or control Mrs. Prerna Jain

3. Relatives of individual having significant Ms. Vidha Jain influence or control Ms. Aridhi Jain

4. Key Management Personnel Mrs. Sarabjeet Kaur

5. Enterprises over which person under Hope Consultants Ltd. above item A(2),(3) have significant FSL Software Technologies Ltd. influence or control Jain Singhal & Associates

Frontline Capital Services Limited

Wonder Buildtech Pvt. Ltd.

Frontline Commodities & Derivatives Pvt. Ltd.

Petal Consultants Pvt. Ltd.

Front Investments & Financial Consultants Pvt. Ltd.

Vardhman Electricals Pvt. Ltd.

FSL Education Services Private Limited

FSL Consultants Pvt. Ltd.

10. Previous year's figures have been regrouped / recasted wherever considered necessary.

11. Schedules 1 to 14 form an integral part of the Balance Sheet and Profit and Loss Account.


Mar 31, 2010

1. In the opinion of the Board, the current assets, loans and advances have a value on realisation in the ordinary course of business, at least equal to the aggregate amount as shown in the Balance sheet.

a) (i) Expenditure in foreign currency: Rs. Nil [Previous year Rs. Nil] (ii) Earning in foreign currency: Rs. Nil [Previous year Rs. Nil]

2. Income Tax

Company has accounted for Deferred Tax in accordance with Accounting Standard- 22 (AS-22) "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India and accordingly deferred tax assets and liabilities are recognized.

The net cumulative tax effect of significant timing difference that results in deferred tax assets and liabilities and description of items thereof that creates these differences is as follows:

3. Loans and advances include Rs. 5,000,000/- (Previous year Rs. 5,000,000/-) given as interest bearing cash margin to M/s Frontline Capital Services Limited, a member of national stock exchange being the company under the same management as defined under section 370(1 B) of the Companies Act 1956 and the maximum amount outstanding during the year at any time Rs. 5,000,000/- (Previous year Rs. 5,000,000/-).

4. There are no amounts payable to any small scale industrial undertaking.

5. Estimated amount of contract remaining to be executed on capital and not provided for (Net of advance) is Rs. NIL (Previous Year Rs. NIL)

6. The main business of the company is financial consultancy, investment and finance. All other activities of the company revolve around the main business. As such, there are no separate reportable segments, as per accounting standard on Segment Reporting (AS-17), issued by the ICAI.

7. RELATED PARTY DISCLOSURE

A. List of Related Parties and description of Relationship

1. Investing party in respect of which Frontline Capital Services Limited company is an associate

2. Individuals having significant influence Mr. Rakesh K. Jain or control Mrs. Prerna Jain

3. Relatives of individual having significant Ms. Vidha Jain

influence or control Ms. Aridhi Jain

4. Key Management Personnel Mrs. Sarabjeet Kaur

5. Enterprises over which person under FSL Software Technologies Ltd.

above item A(2),(3) have significant Jajn Singhal & Associates influence or control

Hope Consultants Ltd.

Frontline Capital Services Limited

Wonder Buildtech Pvt. Ltd.

Frontline Commodities & Derivat- ives Pvt. Ltd.

Petal Consultants Pvt. Ltd.

Front Investments & Financial Consultants Pvt. Ltd.

Vardhman Electricals Pvt. Ltd.

8. Previous years figures have been regrouped / recasted wherever considered necessary.

9. Schedules 1 to 14 form an integral part of, the Balance Sheet and Profit and Loss Account.

 
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