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Notes to Accounts of Indo Thai Securities Ltd.

Mar 31, 2015

1 The company owes no dues to small and medium enterprises which are outstanding for more than 45 days at the balance sheet date.

The above information regarding the micro, small and medium enterprises have been determined to the extent such parties have been identified on the basis of the information available with the company.

2. Pursuant to the enactment of Companies Act 2013, the company has applied the estimated useful lives as specified in Schedule II. Accordingly the unamortized carrying value is being depreciated / amortized over the revised/remaining useful lives. The written down value of Fixed Assets whose lives have expired as at 1st April 2014 have been adjusted in the opening balance of Profit and Loss Account amounting to Rs. 7,11,631/-.

Defined Benefit Plans :

During the previous year company has made an arrangement with Life Insurance Corporation for Gratuity Benefits. Now the company makes annual contributions to the Employees'' Group Gratuity-cum-Life Assurance Scheme of the Life Insurance Corporation of India, a funded defined benefit plan for eligible employees. The present value of the defined benefit obligation and the related current service cost were measured using the Projected Unit Credit Method, with actuarial valuations.

B. The Income-Tax assessments of the Company have been completed up to Assessment Year 2009-10. The disputed demand outstanding for the said Assessment Year is Rs. 18.60 Lacs. Earlier decision of CIT appeal was in favor of company, during the year income tax department has challenged the said decision in Appellate Tribunal. Based on the decisions of the CIT Appellate authorities and the interpretations of other relevant provisions, the Company has been legally advised that the demand is likely to be substantially reduced and accordingly no provision has been made. However Company has paid Rs. 9.00 Lacs against said demand.

3. In the opinion of the Board, Debtors, Current Assets and Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet. Balance of Sundry Debtors and Sundry Creditors are subject to confirmations.

4. Securities are normally held by the Company in its own name except securities pledged with exchange. Securities, which are not registered in the name of the Company, are held by the company with valid transfer documents.

5. Securities received from clients as collateral for margins are held by the Company in its own name in a fiduciary capacity.

6. The company''s operations predominantly consist of “Broking of shares/securities & other related activities ". As per the definition of Business Segment and Geographical Segment contained in Accounting Standard 17 “Segment Reporting”, the management is of the opinion that the Company''s operation comprise of operating in Primary and Secondary market and incidental activities thereto, there is neither more than one reportable business segment nor more than one reportable geographical segment, and, therefore, segment information as per Accounting Standard 17 is not required to be disclosed.

7. During the previous year the company has transferred its 100 % shareholding held in M/s Indo Thai Fincap Ltd. (the Wholly Owned Subsidiary), consequently company has remain only one subsidiary company i.e. Indo Thai Realties Ltd.

8. The Company has recommended a dividend @ 10% i.e. Rs. 1/- per equity share of Rs. 10/-each for the financial year ended March 31, 2015.

9. Expenditure incurred in foreign currency during the year NIL

10. Disclosure of Investment in its subsidiaries and associates etc. As required under clause 32 of the listing agreement.

11 The previous year figures have been regrouped / reclassified, wherever necessary to conform to the current year presentation.

12. In the opinion of the management, fixed assets are not found to be impaired and therefore, no provision for impairment loss is made for the year.

13 RELATED PARTY (As per Accounting Standard 18 - "Related Party Disclosures")

(i) List of related parties where control exists and related parties with whom transactions have taken place and relationships:

Nature of relationship Name of the related party

Key Management Personnel Parasmal Doshi

(KMP) Dhanpal Doshi

Rajendra Bandi Deepak Sharma Anurag Kumar Saxena Relatives of Key Management Personnel Awantabai Doshi

Sadhana Doshi Varsha Doshi Rajmati Hingad Vijaya Jain


Mar 31, 2014

1 Defined Contribution Plans :

During the year company has made an arrangement with Life Insurance Corporation for Gratuity Benefits. Now the company makes annual contributions to the Employees'' Group Gratuity-cum-Life Assurance Scheme of the Life Insurance Corporation of India, a funded de?ned bene?t plan for eligible employees. The present value of the de?ned bene?t obligation and the related current service cost were measured using the Projected Unit Credit Method, with actuarial valuations.

The Company has made provision for Gratuity amounting to Rs. 12.30 Lacs payable to employees, in compliance of recommendation of Accounting Standard 15 "Employees Benefit".

The Income-Tax assessments of the Company have been completed up to Assessment Year 2009-10. The disputed demand outstanding up to the said Assessment Year is 18.60 Lacs. Earlier decision of CIT appeal was in favor of company, during the year income tax department has challenged the said decision in Appellate Tribunal. Based on the decisions of the CIT Appellate authorities and the interpretations of other relevant provisions, the Company has been legally advised that the demand is likely to be substantially reduced and accordingly no provision has been made. However Company has paid Rs. 9.00 Lacs against said demand.

2 In the opinion of the Board, Debtors, Current Assets and Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet.

3 Securities are normally held by the Company in its own name except securities pledged with exchange. Securities, which are not registered in the name of the Company, are held by the company with valid transfer documents.

4 Securities received from clients as collateral for margins are held by the Company in its own name in a fiduciary capacity.

5 The company''s operations predominantly consist of "Broking of shares/securities & other related activities ". As per the definition of Business Segment and Geographical Segment contained in Accounting Standard 17 "Segment Reporting", the management is of the opinion that the Company''s operation comprise of operating in Primary and Secondary market and incidental activities thereto, there is neither more than one reportable business segment nor more than one reportable geographical segment, and, therefore, segment information as per Accounting Standard 17 is not required to be disclosed

6 The Company has taken office premises on operating lease at various locations. Lease rents in respect of the same have been charged to Profit and Loss account. The agreements are executed for a period ranging from one to five years with a renewable clause. Some agreements have a clause for a minimum lock-in period. The agreements also have a clause for termination by either party giving a prior notice period between 30 to 90 days. The minimum future Lease rentals outstanding as at March 31, 2014, are as under

7 During the previous year company has formed two 100% wholly owned subsidiaries.

a. Indo Thai Fincap Ltd.

b. Indo Thai Realities Ltd.

8 The previous year figures have been regrouped / reclassified, wherever necessary to conform to the current year presentation.


Mar 31, 2013

1 CONTINGENT LIABILITIES

Contingent Liabilities not provided for : (Amount in Rs.)

Particulars 2012-13 2011-12

Counter guarantees in respect of guarantees given by banks to the 1,36,80,000 5,86,80,000 Stock Exchanges towards base capital, margin deposits etc.

Pledged of fixed deposts with the bank against the above bank 68,40,000 2,95,14,843 guarantees

2 In the opinion of the Board, Debtors, Current Assets and Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet.

3 Securities are normally held by the Company in its own name except securities pledged with exchange. Securities, which are not registered in the name of the Company, are held by the company with valid transfer documents.

4 Securities received from clients as collateral for margins are held by the Company in its own name in a fiduciary capacity.

5 The company''s operations predominantly consist of "Broking of shares/securities & other related activities ". As per the definition of Business Segment and Geographical Segment contained in Accounting Standard 17 "Segment Reporting", the management is of the opinion that the Company''s operation comprise of operating in Primary and Secondary market and incidental activities thereto, there is neither more than one reportable business segment nor more than one reportable geographical segment, and, therefore, segment information as per Accounting Standard 17 is not required to be disclosed.

6 During the previous year the Company has made an Initial Public Offer (IPO) of 40 Lacs Equity Shares of Rs. 10/- each at premium of Rs. 64/- per share against which total expenses of Rs. 167.03 Lacs were incurred which were adjusted against Share Premium. Further Company has paid interest of Rs. 12.81 lacs to the Investors due to delay in allotment procedures, has been considered as share issue expenses and treated accordingly.

7 The Company has taken office premises on operating lease at various locations. Lease rents in respect of the same have been charged to Profit and Loss account. The agreements are executed for a period ranging from one to five years with a renewable clause. Some agreements have a clause for a minimum lock-in period. The agreements also have a clause for termination by either party giving a prior notice period between 30 to 90 days. The minimum future Lease rentals outstanding as at March 31, 2013, are as under:

8 During the current year company has formed two 100% wholly owned subsidiaries.

a. Indo Thai Fincap Ltd.

b. Indo Thai Realities Ltd.


Mar 31, 2012

1. SHARE CAPITAL

1.1 Of the above shares 40,00,000 equity shares are allotted as fully paid-up bonus shares in the year 2010-11 by capitalisation of the Reserves & Surplus.

1.2 During the year the Company has made an Initial Public Offer (IPO) of 40 Lacs Equity Shares of Rs. 10/- each at premium of Rs. 64/- per share for cash aggregating to Rs. 2960 Lacs and shares of the Company has been listed on BSE Ltd. and National Stock Exchange of India Ltd. (NSE) on 2nd November, 2011.

1.3 Terms/rights attached to equity shares:

The company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share.

2. CONTINGENT LIABILITIES:

A. Contingent liability in respect of delayed or non-compliance of any fiscal statute, amount is uncertainable.

B. Contingent Liabilities not provided for :

Particulars 2011-12 2010-11

Counter guarantees in respect of guarantees given by banks to the Stock Exchanges towards base capital, margin deposits etc. 58,680,000 62,000,000

Pledged of fixed deposits with the bank against the above bank guarantees 29,514,843 31,003,329

C. The Income-Tax assessments of the Company have been completed up to Assessment Year 2009-10. The disputed demand outstanding up to the said Assessment Year is 18.40 Lacs. Based on the decisions of the Appellate authorities and the interpretations of other relevant provisions, the Company has been legally advised that the demand is likely to be substantially reduced and accordingly no provision has been made. However Company has paid Rs. 9.00 Lacs against said demand.

3. In the opinion of the Board, Debtors, Current Assets and Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet.

4. The outstanding balances as at 31st March 2012 in respect of Sundry Debtors, Creditors and loans and Advances are subject to reconciliation & confirmation from the respective parties.

5. Securities are normally held by the Company in its own name except securities pledged with exchange. Securities, which are not registered in the name of the Company, are held by the company with valid transfer documents.

6. Securities received from clients as collateral for margins are held by the Company in its own name in a fiduciary capacity.

7. The Company has made provision for Gratuity amounting to Rs. 21.48 Lacs payable to employees, in compliance of recommendation of Accounting Standard 15 "Employees Benefit" and Rs. 17.59 Lacs related to previous years shown under exceptional item, resulting in to decrease in profit by the same amount.

8. The company''s operations predominantly consist of "Broking of shares/securities & other related activities ". As per the definition of Business Segment and Geographical Segment contained in Accounting Standard 17 "Segment Reporting", the management is of the opinion that the Company''s operation comprise of operating in Primary and Secondary market and incidental activities thereto, there is neither more than one reportable business segment nor more than one reportable geographical segment, and, therefore, segment information as per Accounting Standard 17 is not required to be disclosed.

9. RELATED PARTY (As per Accounting Standard 18 - "Related Party Disclosures")

(i) List of related parties where control exists and related parties with whom transactions have taken place and

relationships:

Nature of relationship Name of the related party

Key Management Personnel (KMP) Dhanpal Doshi

Parasmal Doshi

Rajendra Bandi

Relatives of Key Management Personnel Awantabai Doshi

Sadhana Doshi

Varsha Doshi

Chandrashekhar Doshi

Rajmati Hingad

Vijaya Jain

Kumkum Jain

Master Nishit Doshi

Master Sarthak Doshi

Nivya Doshi

Ritu Doshi

Praveen Bandi

Sunita Bandi

Jaya Bandi

Anita Khasgiwala

Enterprises where key management personnel Paras Doshi (HUF)

exercise significant influence Dhanpal Doshi (HUF)

Rajendra Bandi (HUF)

M/s Dinesh Enterprises

M/s Sun Décor World

M/s Balmukund Ramkishan Bang

M/s Jaya Securities

Companies where key management personnel 1. Indo Thai Commodities Pvt. Ltd.

exercise significant influence 2. Surana Estate & Commodity Trading Pvt. Ltd.

3. Vistar Villas Private Limited

4. Sand & Stone Residency Private Limited

5. Citadel Real Estates Private Limited

6. Future Infraestates Private Limited

7. Rising Infrareal Private Limited

8. Geetanjali Buildcon Private Limited

9. 3M Consultants Limited

10. Indo Thai Real Estate Private Limited

11. Provident Real Estates Pvt Ltd.

12. Oscar Buildcon Pvt Ltd.

13. Prosperity Residency Pvt Ltd.

14. Red Carpet Residency Pvt Ltd.

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