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Notes to Accounts of Helpage Finlease Ltd.
Mar 31, 2014
1. As per the information and explanation given to us and relied upon
by us, the company has been of registered as a Non - Banking Financial
Company under the provisions of the Reserve Bank of India Act, 1934 and
has obtained a certificate of registration No B-14.01206, dated 2nd
January 2003 from the Reserve Bank of India in terms of Section 45IA.
2. As per the information and explanation given to us and relied upon
by us, the board of directors of the company has passed a resolution
for non-acceptance of public deposits.
3. As per the information and explanation given to us and relied upon
by us, the company has not accepted any deposits from the public during
the FY 2013 - 14.
4. As per the information and explanation given to us and relied upon
by us, the company has complied with the provisions of prudential norms
relating to the income recognition, assets classification, accounting
standards and provisioning for bad and doubtful debts, to the extent
applicable, during the FY ended March 31, 2014.
The other matters stated in paragraph 3 of the directions are not
applicable in the case of the company.
1. As defined in paragraph 2(1 )(xii) of the Non-Banking Financial
Companies Acceptance of Public Deposits (Reserve Bank) Directions,
2. Provisioning norms shall be applicable as prescribed in Non-Banking
Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms
(Reserve Bank) Directions, 2007
3. All Accounting Standards and Guidance Notes issued by ICAI are
applicable including for valuation of investments and other assets as
also assets acquired in satisfaction of debt. 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 or current in (4) above.