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Notes to Accounts of Galada Finance Ltd.

Mar 31, 2015

1. The Company is engaged primarily in the business of financing and accordingly there are no separate reportable segement as per accounting standard 17 (Segment Reporting) issued by the Institute of Chartered Accountants of India.

2. Related Party Disclosures :

A. Related Parties

a. Key Management Personnel :

Mr. J Ashok Galada, Managing Director Mr.Naveen Galada , Director Ms.Alpa Jain, Company Secretary Mrs. K.R.Manimeghala, Chief Financial Officer

3. In accordance with the Accounting Standard 22(Accounting for taxes on income) issued by the Institute of Chartered Accountants of India,the deferred tax liability/ assets as the case may be as at 31st March,2015 has been changed to/reversed back in the Profit & Loss Account. In Current year provision has been made on account of timing difference of depreciation on Assets.


Mar 31, 2014

1. The Company is engaged primarily in the business of financing and accordingly there are no separate reportable segment as per accounting standard 17 (Segment Reporting) issued by the Institute of Chartered Accountants of India.

2. In accordance with the Accounting Standard 22(Accounting for taxes on income) issued by the Institute of Chartered Accountants of India,the deferred tax liability/ assets as the case may be as at 31st March,2014 has been changed to/reversed back in the Profit & Loss Account. In Current year provision has been made on account of timing difference of depreciation on Assets.

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


Mar 31, 2013

Note 1

The number of shares outstanding at the beginning and at the end of the reporting period are the same.

2. The Company is engaged primarily in the business of financing and accordingly there are no separate reportable segment as per accounting standard 17 (Segment Reporting) issued by the Institute of Chartered Accountants of India.

3. Transaction with Related Parties:

In accordance with the Accounting Standard 22(Accounting for taxes on income) issued by the Institute of Chartered Accountants of India,the deferred tax liability/ assets as the case may be as at 31st March, 2013 has been changed to/reversed back in the Profit & Loss Account. In Current year liability has been reversed back on account of timing difference of depreciation on Assets.

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

Previous year''s figures have been re-grouped wherever found necessary.


Mar 31, 2012

1. SHARE CAPITAL

The number of shares outstanding at the beginning and at the end of the reporting period are the same.

2. The Company is engaged primarily in the business of financing and accordingly there are no separate reportable segment as per accounting standard 17 (Segment Reporting) issued by the Institute of Chartered Accountants of India.

3. Related Party Disclosures :

A Related Parties

a. Key Management Personnel:

Mr.Ashok Galada, Managing Director

Mr.Naveen Galada , Executive Director

4. In accordance with the Accounting Standard 22(Accounting for taxes income) issued by the Institute of Chartered Accountants of India, the deferred tax liability/ assets as the case may be as at 31st March, 2012 has been charged to/reversed back in the Profit & Loss Account. In Current year liability has been reversed back on account of timing difference of depreciation on Assets.

5. Additional information pursuant to para 4c and 4d of part II of Schedule VI of the Companies Act, 1956 is either NIL or NOT APPLICABLE.

6. Previous year's figures have been re-grouped wherever found necessary.


Mar 31, 2011

1 The Company is engaged primarily in the business of financing and accordingly there are no separate reportable segement as per accounting standard 17 (Segment Reporting) issued by the Institute of Chartered Accountants of India.

2 Related Party Disclosures :

A Related Parties

a. Kev Management Personnel:

Mr.Ashok Galada, Managing Director Mr.Naveen Galada Executive Director

3 Lease Rental Receivable (Gross) 31.03.2011 31.03.2010

a) Not later than one year NIL NIL

b) Later than one year but not later than five years NIL NIL

c) Later than five year 519,362 519,362

4 In accordance with the Accounting Standard 22(Accounting for taxes on income) issued by the Institute of Chartered Accountants of India,the deferred tax liability/ assets as the case may be as at 31st March,2011 has been charged to/reversed back in the Profit & Loss Account In Current year liability has been reversed back on account of timing . difference of depreciation on Assets.

5 Additional information pursuant to para 4c and 4d of part II of Schedule VI of the Companies Act, 1956 is either NIL or NOT APPLICABLE.

6 Previous year''s figures have been re-grouped wherever found necessary.

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