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Notes to Accounts of GDL Leasing & Finance Ltd.

Mar 31, 2014

1. Corporate Information

GDL Leasing and Finance Limited is a public company domiciled in India and incorporated under the Companies Act, 1956. The company is a non-deposit accepting non banking finance company or NBFC-ND-SI registered with Reserve Bank of India (RBI). The company is engaged in the business of financing of Loans, Sales and Purchase of Shares and Stock.

2. Basis of Preparation

The financial statement of the company has been prepared in accordance with Generally Accepted Accounting Principles in India (Indian GAAP). The company has prepared these financial statement to comply in all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006, (as amended) and the relevant provisions of the Companies Act, 1956. The financial statement has been prepared on an accrual basis and under historical cost convention

The company follows the prudential norms issued by the Reserve Bank of India for Assets classification, Income recognition and provisioning for non-performing assets. Besides additional amount is written/off provided for when the management, on a review, considers it necessary.




Mar 31, 2013

1. Additional Information Pursuant to the provisions of paragraph 3 & 4 of part II schedule VI of the Companies Act, 1956.

a) Expenditure of employees who were in receipt of remuneration of not less than Rs. 60,00,000/- p.a. or Rs. 5,00,000/- p.m. when employed for the part of the year: Nil (Prev. Year-Nil).

b) Capacity and production consumption of raw material-N.A.

2. Loans Granted by the company are secured/ partly secured by:

a. Pledge of shares & other securities.

b. Personnel Guarantee

Interest has been charged from all the parties at different rates to whom Loans have been made.

3. Balance of Debtors, Creditors and parties to whom loans and advances have given, are subject to confirmation.

4. Previous year figures have been regrouped or rearranged wherever necessary. Figures shown in the Bracket shows the opposite of given account.

5. Note 1 to 17 form an integral part of the balance sheet and the Profit & Loss account have been duly authenticated.


Mar 31, 2010

Current Year Previous Year.

1. Contingent Liabilities.

2. Transaction in which Directors are Interested: NIL

3. Loans Granted by the company are secured/ partly secured by:

a. Pledge of shares & other securities.

b. Personnel Guarantee

Interest has been charged from all the parties at different rates to whom Loans have been made.

4. Balance of Debtors, Creditors and parties to whom loans and advances have given, are subject to confirmation.

5. Previous year figures have been regrouped or rearranged wherever necessary. Figures shown in the Bracket shows the opposite of given account.

6. Schedule I to 8 from an integral part of the balance sheet and the Profit & Loss account have been duly authenticated B.

 
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