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Notes to Accounts of Inani Securities Ltd.

Mar 31, 2014

1.1 Capital Advances include an amount of Rs.13,036,319/- paid to M/s. Mantri Developers for purchase of flat at Banglore.

1.2 Other Deposit includes deposits paid towards amenities i.e. Electricity, Telephone etc.

2.1 Provident fund for eligible employees is managed by the company in line with the Provident Fund and Miscellaneous Act, 1952. The plan guarantees interest at the rate notified by the Provident Fund Authorities. The contribution by the employer and employee together with the interest accumulated thereon are payable to employees at the time of their seperation from the company or Retierment which ever is earlier.

Sundry Debtors, Loans and Advances and Creditors are subject to confirmation and reconciliation

The company does not have whole time Company Secretary, as per requirements of Section 383A of the Companies Act, 1956.Hence, the accounts have not been signed by the company Secretary.

In the opinion of the Board of Directors, Current Assets and Loans and Advances have the value at which these are stated in the Balance Sheet, if, realized in the ordinary course of business, unless otherwise stated and adequate provisions of all known liabilities have been made and are not in excess of the amount reasonably required

The accounting policies adopted for segment reporting are in conformity with the accounting policies adopted for the company.

The turnover of Depositary Participant Segment is less than 10% of total turnover; hence there is no reportable segment as per Accounting Standard – 17 issued by the Institute of Chartered Accountants of India.

The company operates in only one segment i.e. ''India''. Hence separate information on geographical segment is not required.

Figures in brackets in these notes are in respect of previous year.


Mar 31, 2013

1. General Information :

Inani securities limited a company incorporated in the year 1994 under companies act 1956, is listed on Bombay stock exchange.The company commenced its operations as an independent provider of information analysis and research covering Indian businesses, financial markets and economy to institutional clients. Over a period Inani Securities Ltd expanded its services offerings in the financial services space offering equity/ currency in NSE/BSE and MCX-SX, depository participant services, portfolio management services and distribution of mutual funds, bonds etc., The Company has its presence in the states of Andhra Pradesh and Maharashtra. The Company is one of the oldest and reliable players in the Indian Financial service space.

1.1 During the year there was no fresh issue of equity shares, hence balance at the begining of the year and at the end of the year remains the same i.e. 50,21,900 shares.

1.2 Details of shares held by shareholders holding more than 5% of the aggregate shares in the company.

2.1 The Company has obtained a term loan of Rs. 12,20,000/- from M/s. Alphera financial Services for purchase of motor car for use of directors, it is secured against mortagage of motor car which is repayable in 36 months with 10.01 % of ROI

2.2 The Company has obtained a term loan of Rs. 81.64 Lac from ICICI Bank for purchase of office at Bangalore, it is secured by mortagage of office which is repayable in 120 months with 10.75% as ROI., As the office was sold during the year the Bank loan was repaid and account was closed

2.3 Deposits includes deposits received from clients as security deposits for their trades.

3.1 Working capital loan from HDFC bank is secured aganist pledge of equity shares belonging to the directors, relatives & associated concerns and aganist mortagage of FDR worth Rs. 2.30 Crores.

4.1 As confirmed by the management, there are no dues above Rs. 1.00 Lakh outstanding for more than 45 days to Micro and Small Scale Undertakings.

5.1 Other Payable includes Statutory Dues and outstanding Liabilities

6.1 HDFC Short Term Mutual Funds amounting to Rs. 50,00,000/- has been mortagaged in HDFC bank for obtaining the cash credit limits and the NAV of these mutual funds as on 31/03/2013 is Rs. 65.49/- Lakhs.

7.1 Capital Advances include an amount of Rs.49,88,379/- paid to M/s. Mantri Developers for purchase of office at Banglore.

7.2 Other Deposit includes deposits paid towards aminities i.e. Electricity, Telephone etc.

8.1 Held as lien by banks aganist bank guarantees and Deposits with Banks''Includes deposits of Rs. 170.74 Lakhs (Previous year Rs. 403.95 Lakhs) with maturity of more than 12 months.

9.1 Other Advances include advances to Y. Ashwin amounting to Rs. 1,08,99,715/- which is overdue and the case is pending in the Court for recovery of the same.

10.1 Other Non Operating Income includes income from Rent and Commission received

11.1 Provident fund for eligible employees is managed by the company in line with the Provident Fund and Miscellaneous Act, 1952. The plan guarantees interest at the rate notified by the Provident Fund Authorities. The contribution by the employer and employee together with the interest accumulated thereon are payable to employees at the time of their seperation from the company or Retierment which ever is earlier.

I. Sundry Debtors, Loans and Advances and Creditors are subject to confirmation and reconciliation.

II. The company does not have whole time Company Secretary, as per requirements of Section 383A of the Companies Act, 1956.Hence, the accounts have not been signed by the company Secretary.

III. In the opinion of the Board of Directors, Current Assets and Loans and Advances have the value at which these are stated in the Balance Sheet, if, realized in the ordinary course of business, unless otherwise stated and adequate provisions of all known liabilities have been made and are not in excess of the amount reasonably required

IV. The accounting policies adopted for segment reporting are in conformity with the accounting policies adopted for the company.

The turnover of Depository Participant Segment is less than 10% of total turnover; hence there is no reportable segment as per Accounting Standard -17 issued by the Institute of Chartered Accountants of India.

The company operates in only one segment i.e. ''India''. Hence separate information on geographical segment is not required.

V. Figures in brackets in these notes are in respect of previous year.


Mar 31, 2012

I. General Information :

Inani securities limited a company incorporated under companies act 1956, is listed on Bombay stock exchange, The company is a member of National Stock exchange, Bombay Stock exchange, MCX Stock Exchange and also depository Participant with CDSL the main activity of company is to deal in shares and securities, and provide DP services to its clients. The company has its presence in the states of Andhra Pradesh and Maharashtra. The Company is engaged in Stock broking & Depositary Participant Segments. The other activities such as Trading in Securities, DP services are incidental to Stock Broking activity.

1.1 During the year there was no fresh issue of equity shares, hence balance at the begining of the year and at the end of the year remains the same i.e. 50,21,900/- shares.

2.1 The Company has obtained a term loan of Rs. 12,20,000/- from M/s. Alphera financial Services for purchase of motor car for use of directors, it is secured against mortgage of motor car which is repayable in 36 months with 10.01% of ROI

2.2 The Company has obtained a term loan of Rs. 81.64 Lac from ICICI Bank for purchase of office at Bangalore, it is secured by mortgage of flat which is repayable in 120 months with 10.75% as ROI

3.1 Working capital loan from HDFC bank is secured against pledge of equity shares belonging to the directors, relatives & associated concerns and against mortgage of FDR worth Rs. 2.00 Crores.

3.2 Deposits includes deposits received from clients as security deposits for their trades.

4.1 As confirmed by the management, there are no dues above Rs. 1.00 Lakh outstanding for more than 45 days to Micro and Small Scale Undertakings.

5. Other Payable includes Statutory Dues and outstanding Liabilities

6. HDFC Short Term Mutual Funds amounting to Rs. 50,00,000/- has been mortgaged in HDFC bank for obtaining the cash credit limits and the NAV of these mutual funds as on 31/03/2012 is Rs. 65.49/- Lakhs.

7. Capital Advances include an amount of Rs.10,098,772 paid to M/s. Mantri Developers for purchase of office at Banglore.

8. Other Deposit includes deposits paid towards amenities i.e. Electricity, Telephone etc.

9. Held as lien by banks against bank guarantees and Deposits with Banks Includes deposits of Rs. 403.95 Lakhs (Previous year Rs. 437.33 Lakhs) with maturity of more than 12 months.

10. Other Advances include advances to Y. Ashwin amounting to Rs. 10,899,715 which is overdue and the case is pending in the court for recovery of the same.

11. Other Non Operating Income includes income from Rent and Bad Debits Recovered

12. Provident fund for eligible employees is managed by the company in line with the Provident Fund and Miscellaneous Act, 1952. The plan guarantees interest at the rate notified by the Provident Fund Authorities. The contribution by the employer and employee together with the interest accumulated thereon are payable to employees at the time of their separation from the company or retirement which ever is earlier.

13. NOTES ON ACCOUNTS : 31/03/2012 31/03/2011

i) Contingent Liabilities : a) Uncalled Liability on account of 10000 partly paid right shares of HSE Securities limited NIL Rs. 75,000/-

b) Not provided for Bank Guarantee issued by the Banks. Rs. 393.00 Lacs Rs. 418.00 Lacs

ii. Sundry Debtors, Loans and Advances and Creditors are subject to confirmation and reconciliation.

iii. In the opinion of the Board of Directors, Current Assets and Loans and Advances have the value at which these are stated in the Balance Sheet, if, realized in the ordinary course of business, unless otherwise stated and adequate provisions of all known liabilities have been made and are not in excess of the amount reasonably required

iv. The accounting policies adopted for segment reporting are in conformity with the accounting policies adopted for the company.

The turnover of Depositary Participant Segment is less than 10% of total turnover; hence there is no reportable segment as per Accounting Standard - 17 issued by the Institute of Chartered Accountants of India.

The company operates in only one segment i.e. 'India'. Hence separate information on geographical segment is not required.

v. Figures in brackets in these notes are in respect of previous year.

vi. The financial statements for the year ended March 31, 2011 had been prepared as per the applicable, pre-revised Schedule VI to the Companies Act, 1956. Consequent to the notification of Revised Schedule VI under the Companies Act, 1956, the financial statements for the year ended March 31,2012 are prepared as per Revised Schedule VI. Accordingly, the previous year figures have also been reclassified to conform to this years classification. The adoption of Revised Schedule VI for previous year figures does not impact recognition and measurement principles followed for preparation of financial statements.


Mar 31, 2011

31/03/2011 31/03/2010

1) Contingent Liabilities :

a) Uncalled Laiability on account of 10000 partly paid right shares of HSE Securities limited 75000 NIL

b) Not provided for Bank Guarantees issued by the Banks. 418 Lacs 451 Lacs

2) Secured Loans

Loan from HDFC Bank is secured against pledge of equity shares belonging to the Directors, Relatives & Group Company and against mortgage of FDR worth Rs.2 Crores.

Loan from TMB Ltd. is secured by way of pledge of FDR worth Rs.50 Lacs.

3) Sundry Debtors, Loans and Advances and Creditors are subject to Confirmation and reconciliation.

4) in the opinion of the Board of Directors, Current Assets and loans and Advances have the value at which these are stated in the Balance Sheet, if, realized in the ordinary course of business, unless otherwise stated and adequate provisions of all known liabilities have been made and are not in excess of the amount reasonably required.

5) As confirmed by the management, there are no dues above Rs. 1.00 Lakh outstanding for more than 45 days to Micro and Small Scale Undertakings.

6) Cash and Bank balance includes Rs. 66,012/- for unclaimed dividend declared in the year 2007-08.

7) The Company is engaged in Stock broking & Depositary Participant Segments. The other activities such as Trading in Securities, Investment banking are incidental to Stock Broking activity.

8) The turnover of Depository Participant Segmeent is less than 10% of total turnover: hence there is no reportable segment as per Accounting Standard -17 issued by the Institute of Chartered Accountants of india.

9) The company operates in only one Country i.e. India,. Hence separate information on geographical segment is not required. The accounting policies adopted for segment reporting are in line with the accounting policies adopted for preparation of financial information of the Company.

10) Related Party Disclosure as per Accounting Standard -18:

(The information is given as compiled and certified by the management).

Sl.No Associate Concerns

1 M/s. INANI COMMODITIES & FINANCE LIMITED

Key Management Personnel

1 Sri. LAKSHMIKANTH INANI

2 Sri. RAMAKANTH INANI

3 Sri. VISHNUKANTH INANI

Relatives of Key Management Personnel

1 Mrs. ANITA INANI

2 Mrs. CHAMPA DEVI INANI

11. Value of Imports on CIF Basis NIL NIL

12. Expenditure in Foreign Currency NIL NIL

13. Earnings in Foreign Currency NIL NIL

14. Figures in brackets in these notes are in respect of previous year.

15. Figures of previous have been regrouped/rearranged/reclassified, wherever considered necessary to confirm to current years presentation.


Mar 31, 2010

1) Contingent Liabilities not provided for in respect of: Bank Guarantees issued by the Banks Rs.451.00 Lacs Rs. 428.00 Lacs

2) Secured Loans:

a) Loan from HDFC Bank is secured against pledge of equity shares belonging to the Directors, Relatives & Group Company.

3) In the opinion of the Board of Directors, Current Assets and loans and Advances have the value at which these are stated in the Balance Sheet, if, realized in the ordinary course of business, unless otherwise stated and adequate provisions of all known liabilities have been made and are not in excess of the amount reasonably required.

4) As confirmed by the management, there are no dues above Rs. 1.00 Lakh outstanding for more than 45 days to Micro and Small Scale Undertakings.

5) Cash and Bank balance includes Rs.66,012/- for unclaimed dividend declared in the year 2007-08

6) The Company is engaged in Stock broking & Depositary Participant Segments. The other activities such as Trading in Securities, Investment banking are incidental to

Stock Broking activity.

7) The turnover of Depository Participant Segmeent is less than 10% of total turnover:

hence there is no reportable segment as per Accounting Standard -17 issued by the Institute of Chartered Accountants of india.

8) The company operates in only one segement i.e. India,. Hence separate information on geographical segment is not required. The accounting policies adopted for segment reporting are in line with the accounting policies adopted for repafation of financial information of the Company.

9) Deferred Tax comprises of the following:

10) Related Party Disclosure as per Accounting Standard -18: (The information is given as compiled and certified by the management).

Sl.No Associate Concerns

1 M/s. INANI COMMODITIES & FINANCE LIMITED

Directors/Key Management Personnel

1 Sri. LAKSHMIKANTH INANI

2 Sri. RAMKANTH INANI

3 Sri. VISHNUKANTH INANI

Relatives of Key Management Personnel

1 ANITA INANI

2 CHAMPA DEVI INANI

 
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