Notes to Accounts of Global Capital Markets Ltd.

Mar 31, 2016

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. Computation of Basic and Diluted Earnings per Share

Earnings: Profit after taxation (Rs) Weighted average number of Equity Share outstanding during the year face value of Rs10/- each.

Earnings Per Share - Basic & Diluted.

3. RELATED PARTY DISCLOSURES(ACCOUNTING STANDARD 18)

4. Relationships

5. Wholly owned Subsidiary- None

6. Associate Company- None

7. Companies under the common control of promoters

GCM Securities Ltd

GCM Commodity & Derivative Pvt Ltd

GCM Capital Advisory Limited

D. Key management Personnel

I.C.Baid L.N. Sharma Details of Remuneration to Directors : 3,00,000

8. Transactions

There has been no other related party transactions during the year under the review except normal share transactions executed through GCM securities Ltd, Member of National Stock Exchange and Bombay Stock Exchange and M/S I.C. Baid & Co Member of Calcutta Stock Exchange and and commodity transaction through GCM Commodity & Derivatives Ltd.

9. Secondary Segments

The Company Operates predominantly within the geographical limits of India. It has no secondary segments revenue.

10.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 yearend together with interest paid/payable as required under the said act, have not been given.

11.The disclosures as required in terms of paragraph "13" of Non- Banking Financial (deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank Directions, 2007) is given by way of annexure to the Balance Sheet.

12. Events Occurring after Balance Sheet Date

No significant events which could effect the financial position as on March 31, 2016, to a material extent have been reported by the management, after the balance sheet date till the signing of the report.

13. Impairment Of Assets

The management of the company has during the year carried out technological evaluation for identification of assets, if any, in accordance with Accounting Standard 28. Based on the judgment of the management and as certified by the directors , no provision for impairment is found to be necessary in respect of any assets.

14. Previous years figures have been regrouped/reclassified wherever necessary to correspond with the current years classification/ disclosures .

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Mar 31, 2015

1. COMPANY INFORMATION

The company is incorporated on 20th February, 1989 at Calcutta, West Bengal, India. It is a Public limited company by its shares. The company operates in Capital Market and Commodity Market. The activities of the company include trading, investing in shares & other securities and other related activities of capital market as well as Commodity Market.a. No shareholder is holding more than 5% shares of the company.

2. The Company has only one class of shares i.e. Equity Shares of Face Value Rs.10/-

The Company has accounted for Deferred Tax in accordance with the Accounting Standard 22 "Accounting For Taxation on Income " issued by ICAI.

Current Years Deferred Tax Liabilities (NET) amounting to Rs. 12,47,243/-arising on account of timing difference in respect of depreciation has been carried forward in Balance Sheet.

3. RELATED PARTY DISCLOSURES(ACCOUNTING STANDARD 18)

1) Relationships

A. Wholly owned Subsidiary- None

B. Associate Company- None

C. Companies under the common control of promoters GCM Securities Ltd

GCM Commodity & Derivative Ltd.

GCM Capital Advisory Limited

D. Key management Personnel

I.C.Baid L.N. Sharma

4. Transactions

There has been no related party transactions during the year under the review except normal share transactions executed through GCM securities Ltd, Member of National Stock Exchange and Bombay Stock Exchange and M/S I.C. Baid & Co, Member of Calcutta Stock Exchange and and commodity transaction through GCM Commodity & Derivatives Ltd.

5. SEGMENT REPORTING (ACCOUNTING STANDARD 17)

a) The company has Three primary business segments viz:

i) NBFC Business

ii) Investment Business

iii) Commodity Trading

b) Secondary Segments

The Company Operates predominantly within the geographical limits of India. It has no secondary segments revenue.

6. 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.

7. The disclosures as required in terms of paragraph "13" of Non- Banking Financial (deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank Directions, 2007) is given by way of annexure to the Balance Sheet.

8. 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.

9. Impairment Of Assets

The management of the company has during the year carried out technological evaluation for identification of assets, if any, in accordance with Accounting Standard 28. Based on the judgement of the management and as certified by the directors, no provision for impairment is found to be necessary in respect of any assets.

10. Previous years figurs have been regrouped/reclassified whereever necessary to correspond with the current years classification/ disclosures

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Mar 31, 2014

Note 1.1

RELATED PARTY DISCLOSURES(ACCOUNTING STANDARD 18)

1) Relationships

A. Wholly owned Subsidiary- None

B. Associate Company- None

C. Companies under the common control of promoters

GCM Securities Ltd

GCM Commodity & Derivative Pvt Ltd

GCM Capital Advisory Limited

D. Key management Personnel

I.C.Baid L.N. Sharma

2) Transactions

There has been no related party transactions during the year under the review except normal share transactions executed through GCM securities Ltd, Member of National Stock Exchange and Bombay Stock Exchange and M/S I.C. Baid & Co, Member of Calcutta Stock Exchange and and commodity transaction through GCM Commodity & Derivatives Ltd.

Note 1.2

SEGMENT REPORTING (ACCOUNTING STANDARD 17)

a) The company has Three primary business segments viz: i) NBFC Business ii) Investment Business iii) Commodity Trading

b) Secondary Segments

The Company Operates predominantly within the geographical limits of India. It has no secondary segments revenue.

Note 1.3

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.

Note 1.4

The disclosures as required in terms of paragraph "13" of Non- Banking Financial (deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank Directions, 2007) is given by way of annexure to the Balance Sheet.

Note 1.5 Impairment Of Assets

The management of the company has during the year carried out technological evaluation for identification of assets, if any, in accordance with Accounting Standard 28. Based on the judgement of the management and as certified by the directors , no provision for impairment is found to be necessary in respect of any assets.

Note 1.6

Previous years figurs have been regrouped/reclassified whereever necessary to correspond with the current years classification/ disclosures

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Mar 31, 2013

1.1 RELATED PARTY DISCLOSURES(ACCOUNTING STANDARD 18)

1) Relationships

A. Wholly owned Subsidiary- None

B. Associate Company- None

C. Companies under the common control of promoters

GCM Securities Ltd

GCM Commodity & Derivative Pvt Ltd

D. Key management Personnel

I. C. Baid L. N. Sharma

2) Transactions

There has been no related party transactions during the year under the review except normal share transactions executed, through GCM securities Ltd, Member of National Stock Exchange and Bombay Stock Exchange and M/S I.C. Baid & Co,. Member of Calcutta Stock Exchange and Co, and commodity transaction through GCM and BSC commodity & Derivative Pvt Ltd.

1.2 SEGMENT REPORTING (ACCOUNTING STANDARD 17)

a) The company has Four primary business segments viz: i) NBFC Business ii) Investment Business iii) Software Business iv) Commodity Trading

b) Secondary Segments

The Company Operates predominantly within the geographical limits of India. It has no secondary segments revenue.

Note 1.3

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.

Note 1.4

The disclosures as required in terms of paragraph "13" of Non- Banking Financial (deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank Directions, 2007) is given by way of annexure to the Balance Sheet.

1.5 IMPAIRMENT OF ASSETS

The management of the company has during the year carried out technological evaluation for identification of assets, if any, in accordance with Accounting Standard 28. Based on the judgement of the management and as certified by the directors , no provision for impairment is found to be necessary in respect of any assets.

Note 1.6

The Revised Schedule VI has become effective from 1/4/2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous years figurs have been regrouped/reclassified whereever necessary to correspond with the current years classification/ disclosures.

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Mar 31, 2012

1.1 RELATED PARTIES DISCLOSURES (AS PER ACCOUNTING STANDARD 18)

1. Relationship

a. Wholly Owned Company - Not Any

b. Associate Company - None

c. Company under the Common Control of Promoters GCM Securities Limited GCM Commodity & Derivative Private Limited

d. Key Management Personnel I. C. Baid

L. N. Sharma

2. Transactions

There has been no related parties transactions during the year under review except normal share transactions executed through GCM Securities Limited, Member of BSE & NSE & M/s. I C Baid & Co., Member of CSE and Commodity Transactions through GCM Commodity & Derivative Private Limited

2.1 SEGMENT REPORTING (AS PER ACCOUNTING STANDARD

a. The Company has three Primary Business Segments viz.

i. NBFC Business

ii. Infrastructure Business

iii. Software Business

iv. Investment in Shares & Securities

b. Secondary Segment

The Company operates predominately within the geographical limits of India. It has no secondary segment revenue.

2.2 DISCLOSURE FOR PAYMENT TO MICRO, SMALL & MEDIUM ENTERPRISES

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

2.3 NBFC DISCLOSURE

The Disclosure as required in term of Paragraph "13" of Non-Banking Financial (Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank of India, 2007) is given by way of Annexure to the Balance Sheet.

2.4 Impairment of Assets

Company Management during the year have carried out techno graphical evaluation for identification of Assets, if any, in accordance with Accounting Standard 28. Based on the judgement of the Management and as certified by Directors, no provision for impairment is found to be necessary in respect of any Assets.

Note : 2.5

The revised Schedule VI has been 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 Years' figures have been regrouped/re-classified wherever necessary to the correspond with the current year classifications / disclosures.

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Mar 31, 2010

1. Deferred Taxation

The Company has accounted for Deferred Tax in accordance with the Accounting Standard 22 "Accounting for Taxation on Income issued by ICAI. Current years deferred tax Assets arising on account of timing difference in respect of depreciation has been provided for against current years income and Debited to Deferred Tax Liability Account.

2. The Company has transferred 20% of the current profit to the Statutory Reserve as required by the Ordinance issued by the Government of India on 9th January, 1997 in respect of Non-Banking Financial Companies.

3. Related Party Disclosure (Accountiung Standard 18)

A. Relationships

(1) Wholly owned subsidiary - None

(2) Associate Company - None

(3) Companies under the common control of the Promoters

GCM Securities Limited

GCM Commodity & Derivatives Pvt. Ltd.

(4) Key Management Personnel

Mr. I. C. Baid Mr. L. N. Sharma

B. Transactions

There has been no related party transactions during the year under review except Normal Share transactions excuted through GCM Securities Ltd., Member of National Stock Exchange and M/s. I.C. Baid & Co., Member of Calcutta Stock Exchange and commodity transaction through GCM Com- modity & Derivatives Pvt. Ltd.

4. Impairment of Assets

The management of the Company has, during the year carried out technological evaluation for identification of assets, if any, in accordance with Accounting Standard 28. Based on the Judgement of the management and as certified by the Directors, no provision for impairment is found to be necessary in respect of any assets.

5. Segment Reporting

The Company is currently engaged only in capital market operations and there are no separate reportable seg- ment as per Accounting Standard 17.

6. Previous years figures have been rearranged/regrouped wherever necessary including Cash Flow Statement.

7. The Company has no dealings with any Small Micro and Medium Enterprises.

8. Details of Closing Balance of Stock-In-Trade