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Notes to Accounts of GCM Securities Ltd.

Mar 31, 2015

Company Information & Accounting Policies Company Information

The company is incorporated on 2nd May, 1995 at Calcutta, West Bengal, India. It is a Public limited company by its shares. The company operates in Capital Market. The activities of the company include broking, trading, investing in shares & other securities and other related activities of capital market.

Other Notes and Additional Information forming part of Financial Statements

1. In the opinion of the management, current assets, loans and advances and other receivables have realizable value of at least the amounts at which they are stated in the accounts

2. The Trade Receivable of Rs.66.30 Lacs from GCM Commodity & Derivatives Ltd. Is on account of settlement dues from National Spot Exchange Ltd.

3. The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure, if any, relating to amount unpaid as at the year end together with interest paid/payable as required under the said act, have not been given.

4. In accordance with the requirement under the Accounting Standard - 22 "Accounting for taxes on Income" the company has accounted for deferred Tax during the year. Consequently the net deferred tax Liability of Rs.75,426/- during the year arising due to timing difference in depreciation & related items has been credited to Profit & Loss account.

5.The Payment of Gratuity Act, 1972 is not applicable to the company as the number of permanent employees in the company are below ten, similarly no other benefits are paid.

6. There are no impairment of Assets, as the management is of the opinion that the carrying value of assets is more than the realizable value as at 31st March, 2015.

7. Related Party Disclosures: Directors are Key Management Personnel of the Company Directors of the Company

1) Inder Chand Baid

2) Manish Baid

3) Samir Baid

Other Related entities:

1) Global Capital & Infrastructure Ltd.

2) Cadillac Vanijya Private Limited

3) Silverpearl Hospitality & Luxery Spaces Ltd.

4) Chello Commotrade Ltd.

5) GCM Capital Advisors Ltd.

6) GCM Commodities & Derivatives Ltd.

Remuneration paid to Directors;

i) Manish Baid Rs.300000/- per annum

8. Other additional information to be disclosed by way of Notes to Statement of Profit and Loss Quantitative Details of trading items

9. The Compnay has only one reportable segment namely Share Broking & Self trading in invsetment products and accordingly disclosures regarding segment reporting are not being made separately.

10. Events Occurring after Balance Sheet date

No significant events which could effect the financial position as on March 31, 2015, to a material extent have been reported by the management, after the balance sheet date till the signing of the report.

11. Details of Loans given, Investments made, guarantees given covered under section 186(4) of The Companies Act, 2013

Investments made are disclosed with respective note, further no loans and guarantee has been given by the Company.

12. Previous year's figures have been re-arranged and re-grouped wherever considered necessary.


Mar 31, 2014

(All amounts in Rs., except share data and unless otherwise stated)

Note 1 Company Informaton & Accountng Policies

Company Informaton

The company is incorporated on 10th May, 1995 at Calcuta, West Bengal, India. It is a Public limited company by its shares. The company operates in Capital Market. The actvites of the company include broking, trading, investng in shares & other securites and other related actvites of capital market.

NOTE 2.1

The Trade Receivable of Rs.70.74 Lacs from GCM Commodity & Derivatves Ltd. Is on account of setlement dues from Natonal Spot Exchange Ltd.

NOTE 2.2

The Company has not received any intmaton from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure, if any, relatng to amount unpaid as at the year end together with interest paid/payable as required under the said act, have not been given.

NOTE. 2.3

In accordance with the requirement under the Accountng Standard - 22 "Accountng for taxes on Income" the company has accounted for deferred Tax during the year. Consequently the net deferred tax asset of Rs.58297/- during the year arising due to tming diference in depreciaton & related items has been credited to Statement of Profit & Loss.

NOTE 2.4

The Payment of Gratuity Act, 1972 is not applicable to the company as the number of permanent employees in the company are below ten, similarly no other benefits are paid. The leave encashment are paid within the year and no leave balances are carried forward. Hence AS – 15 Employee benefit has been complied with.

NOTE 2.5

There are no impairment of Assets, as the management is of the opinion that the carrying value of assets is more than the realizable value as on 31st March, 2014.

NOTE. 2.6

Related Party Disclosures: Directors are Key Management Personnel of the Company

Directors of the Company

1) Inder Chand Baid

2) Manish Baid

3) Samir Baid

Other Related enttes:

1) Global Capital & Infrastructure Ltd.

2) Cadillac Vanijya Private Limited

3) Silverpearl Commercial Pvt. Ltd.

4) Chello Commotrade Pvt.Ltd.

5) GCM Capital Advisors Ltd.

6) GCM Commodites & Derivatves Ltd. Remuneraton to Directors : 24000/- ( Manish Baid)

NOTE 2.7

The Compnay has only one reportable segment namely Share Broking & Self trading in invsetment products and accordingly disclosures regarding segment reportng are not being made separately.

NOTE 2.8

Previous year''s figures have been re-arranged and re-grouped wherever considered necessary.


Mar 31, 2013

Company Information

The company is incorporated on 10th May, 1995 at Calcutta, West Bengal, India. It is a Public limited company by its shares. The company operates in Capital Market. The activities of the company include broking, trading, investing in shares & other securities and other related activities of capital market.

NOTE 1.1

The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure, if any, relating to amount unpaid as at the year end together with interest paid/payable as required under the said act, have not been given.

NOTE. 1.2

In accordance with the requirement under the Accounting Standard - 22 "Accounting for taxes on Income" the company has accounted for deferred Ta x during the year. Consequently the net deferred tax asset of Rs. 349516/- during the year arising due to timing difference in depreciation & related items has been credited to Profit & Loss account.

NOTE 1.3

The Payment of Gratuity Act, 1972 is not applicable to the company as the number of permanent employees in the company are below ten, similarly no other benefits are paid. The leave encashment are paid within the year and no leave balances are carried forward. Hence AS – 15 Employee Benefit has been complied with.

NOTE 1.4

There are no impairment of Assets, as the management is of the opinion that the carrying value of assets is more than the realizable value as on 31st March, 2013.

NOTE. 1.5

Related Party Disclosures: Directors are Key Management Personnel of the Company Directors of the Company

1) Inder Chand Baid

2) Manish Baid

3) Samir Baid

4) Saroj Baid

Other Related entities:

1) Global Capital & Infrastructure Ltd.

2) Cadillac Vanijya Private Limited

3) Silverpearl Commercial Pvt. Ltd.

4) Chello Commotrade Pvt.Ltd. Remuneration to Directors : 24000/- ( Manish Baid)

Amount paid to Relatives of Directors ( Shrenik Choraria Salary ) : 2,40,000/- Amount paid to Relatives of Directors ( Amrita Baid Salary ) : 1,20,000/-

NOTE 1.6

The Compnay has only one reportable segment namely Share Broking & Self trading and accordingly disclosures regarding segment reporting are not being made separately.

NOTE 1.7

Previous year''s figures have been re-arranged and re-grouped wherever considered necessary.

 
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