Accounting Policies of Caspian Corporate Services Ltd. Company

Mar 31, 2018

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The accounting policies setout below have been applied consistently to all periods presented in this financial statements and in preparing the Ind AS balance sheet at 01st April, 2016for the purposes of the transition to Ind AS, un less otherwise stated

i. PROPERTY, PLANTANDEQUIPMENT(PPE)

- Property, Plant and Equipment are stated at cost, net of recoverable taxes, trade discount and rebates less accumulated depreciation and impairment loss, if any. Such cost include purchase price, borrowing cost and any cost directly attributable to bringing the assets to its location and working condition for its intended use, net charges on foreign exchange contracts and adjustments arising from exchange rate variations attributable to the assets, if any.

- Depreciation on Tangible Assets, PPE is charged on WDV method as per the useful life prescribed in Part C of Schedule II of the Companies Act, 2013 and in the manner specified therein. The residual values, useful lives and methods of depreciation of property, plant and equipment are reviewed at each financial year end and adjusted prospectively, if appropriate.

- Depreciation on fixed assets added/ disposed off/ discarded during the year is provided on a pro-rata basis with reference to the month of addition/disposal/discarding.

- Subsequent expenditure is capitalised only if it is probable that the future economic benefit associated with the expenditure will flow to the company.

ii. INTANGIBLEASSETS

- Intangible Assets are stated at cost of acquisition net of recoverable taxes, trade discount and rebates less accumulated depreciation and impairment loss, if any. Such cost includes purchase price, borrowing cost and any cost directly attributable to bringing the assets to its working condition for its intended use, net charges on foreign exchange contracts and adjustments arising from exchange rate variations attributable to the assets.

- Intangible assets are amortised on WDV Method over the estimated useful life. The method of amortisation and useful life are reviewed at the end of each accounting year with the effect of any changes in the estimate being accounted for on a prospective basis.

iii. INVESTMENTS

Investments are classified as non current investments and current investments. Non Current Investments are stated at cost less provision, if any. Current Investments are stated at lower of cost or market value.

iv. FINANCECOST

- Borrowing Costs that are attributable to the acquisition or construction of qualifying assets are capitalised as part of the cost of such assets. A Qualifying asset is one that necessarily takes a substantial period of time to get ready for its intended use or sale.

- All other borrowing costs are charged to the Statement of Profit and Loss for the period for which they are incurred.

v. REVENUE RECOGNITION

- Revenue from sale of goods is recognised when the significant risk and rewards of ownership and effective control o n goods have been transferred to the buyer. Sales revenue is measured at fair value net of returns, trade discounts, volume rebates and taxes or duties.

- Revenue from services rendered is recognised as and when the services are rendered and related costs are incurred in accordance with the contractual agreement.

- INTEREST INCOME

Interest on Investments is recognised on a time proportion basis taking into account amounts invested and the rate of interest applicable. Interest on refunds from Statutory Authorities as and when applicable is recognised when such income is determinable, based on completed proceedings.

- Profit on Sale of Investments is recognised on completion of transactions.

vi. EMPLOYEE BENEFIT EXPENSES

- Short term employee benefits are recognized as expenses at the undiscounted amounts in the year in which the related service is rendered.

- Post employment and other long term employee benefits are recognized as an expense in the Statement of Profit and Loss Account of the year in which the employee has rendered services. The expense is recognized at the present value of the amount payable, determined as per Actuarial Valuations. Actuarial gains and losses in respect of post employment and long term employee benefits are recognized in the Profit and Loss Account.

vii. FOREIGNCURRENCIESTRANSACTIONSANDTRANSLATION

- Transactions relating to non monetary items & sale of goods/ services denominated in foreign currencies are recorded at the exchange rate prevailing on the date of transaction.

- Monetary assets and liabilities denominated in foreign currencies are translated at the functional currency closing rates of exchange at the reporting date.

- Exchange difference arising on settlement or conversion of foreign currency monetary items are recognised in Statement of Profit and Loss in the period in which they arise.

- Foreign Currency gains or losses are reported on net basis.

viii. TAXEXPENSES

The tax expense for the period comprises current and deferred tax. Tax is recognised in Statement of Profit and Loss, except to the extent that it relates to items recognised in the comprehensive income or equity. In which case, the taxis also recognised in other comprehensive income or equity.

- Current Tax

Current Tax is the amount of tax payable on the assessable income/ taxable income for the year determined in accordance with the provisions of the Income Tax Act, 1961. The Company''s current tax is calculated using tax rate that have been enacted or substantively enacted at the end of the reporting period.

- Deferred Tax

Deferred Tax is recognised on temporary differences between the carrying amount of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities and assets are measured at the rates that are expected to apply in the period in which the liability is settled or the asset realised, based on the tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. The carrying amount of Deferred tax liabilities and assets are reviewed at the end of each reporting period.

ix. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

- Provisions are recognised when the Company has a present obligation(legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made ofthe amount of the obligation.

- Contingent liability is disclosed in case of:

a) a present obligation arising from past events, when it is not probable that an outflow of resources will be required to settle the obligation ; and

b) a present obligation arising from past events, when no reliable estimate is possible.

- Contingent assets are disclosed where an inflow of economic benefits is probable.

x. EARNING PER SHARE

- Basic Earning per share is calculated by dividing the Net Profit after tax for the period attributable to equity shareholders by the weighted average number of equity shares outstanding during the period.

- Diluted EPS is computed by dividing the profit after tax, as adjusted for dividend, interest and other charges to expenses or income relating to the dilutive potential equity shares, by the weighted average number of equity shares considered for deriving basis EPS and the weighted average number of equity shares which could have been issued on the conversion of all dilutive potential equity shares.

2. FIRSTTIMEADOPTIONOFINDAS

i. The financial statements of Intellivate Capital Advisors Limited for the year ended March 31,2018 have been prepared in accordance with Ind AS. For the purpose of transition to Ind AS, the company has followed the guidance prescribed in Ind AS 101-First Time Adoption of Indian Accounting Standard, with April 1,2016 as the transition date and IGAAP as the previous GAAP.

ii. The Transition to Ind AS has resulted in changes in the presentation of the financial statements, disclosures in the notes thereto and accounting policies and principles. The accounting policies set out in Note 3 have been applied in preparing the financial statements for the year ended March 31,2018 and the comparative information. As explanation of how the transition from previous GAAP to Ind AS has affected the company''s balance sheet, statement of profit and loss, is set out in note 4.4. Exemptions on first time adoption of Ind AS availed inaccordancewithIndAS101 have been set out in note4. iii.

iii. EXEMPTIONS AND EXPECTIONSAVAILED

In the Ind AS Opening Balance Sheet as on April 1^st, 2016, the carrying amounts of assets and liabilities from the Indian GAAP as on March 31^st, 2016 are generally recognised and measured accordingly to Ind AS in effect as on March 31^st 2018. For certain individual cases, however, Ind AS 101 provides for optional exemptions and mandatory exceptions to the general principles or retrospective application of Ind AS. The Company has used the following exemptions and exceptions in preparing its Ind AS Opening Balance Sheet:

A. FAIR VALUEAS DEEMED COSTEXEMPTION

The Company may elect to use the previous GAAP carrying amount as the deemed cost of measurement of items of property, plant and equipment and intangible assets at the date of transition to Ind AS. Accordingly the company adopted the previous GAAP carrying amount that existed at the date of transition to Ind AS.

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Mar 31, 2014

1.1 ''Basis of accounting and preparation of financial statements

The financial statements are prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to comply with the Accounting Standards prescribed in the Companies (Accounting Standards) Rules, 2006 (as amended) issued by the Central Govt. in terms of section 211 (3C) of the Companies Act, 1956 (the Act) (which continue to be applicable in respect of section 133 of the Companies Act, 2013 in terms of General Circullar 15/2013 dated 13 September of the Ministry of Corporate Affairs). The financial statements have been prepared on accrual basis under the historical cost convention. The accounting policies adopted in the preparation of the financial statements are consistent with those followed in the previous year and comply with the mandatory accounting standards and statements issued by Institute of Chartered Accountants of India (ICAI).

1.2 ''Use of estimates

The preparation of the financial statements in conformity with Indian Generally Accepted Accounting Principles (Indian GAAP) requires the Management to make judgements, estimates and assumptions that affect the application of Accounting Policies and reported amounts of Assets and Liabilities, Income and Expenses and disclosure of Contigent Liabilities at the end of Financial Statements. The Management believes that the estimates made in the preparation of the financial statements are prudent and reasonable. Actual results could differ from those estimates and the differences between the actual results and the estimates are recognised in the periods in which the results are known / materialise.

1.3 Tangible fixed assets

Fixed assets, are stated at cost less accumulated depreciation / amortisation and impariment loss if any.

cost comprises the purchase price and any attributable cost of bringing the assets to its working condotions for its intended use.

Intangible assets

Intangible assets are recognised in the year it is put to use at cost. Intangible assets are carried at cost less accumulated amortisation and accumulated impairment loss if any.

1.4 ''Depreciation and amortisation

''Depreciation on Fixed Assets has been charged as per revised rates of depreciation prescribed in Schedule XIV to the Companies Act, 1956.

''Depreciation in respect of Assets acquired / Purchased / sold / dicarded during the year has been provided on pro-rata basis.

Intangible assets are amortised over useful life of the assets.

1.5 Investments

Long term investments are stated at cost less provision, for diminution which is other than temporary in nature. Current investments stated at lower of cost or market value.

1.6 ''Revenue recognition

Revenue from services rendered is recognized as and when services are rendered and related costs are incurred in accordance with the terms ofthe contractual agreement.

Interest, as and when applicable, on refunds from statutory authorities is recognized when such interest is determinable, based on completed proceedings. Other interest income is recognized using time proportion method, based on interest rate implicit in the transactions. Profit on sale of investments is recognized on completion of transactions.

1.7 Expenses

All materials known expenses and liabilities are provided for according to mercantile system on the basis of available information or estimates.

1.8 ''Foreign currency transaction

Transactions denominated in foreign currency are recorded at the exchange rates prevailing on the date of transactions. Exchange difference arising on foreign exchange transactions settled during the year are recognized in the Statement of profit and loss accounts of the year.

1.9 ''Employee benefits

Short term employee benefits are recognized as expenses at the undiscounted amounts in the year in which the related service is rendered.

Post employment and other long term employee benefits are recognized as an expense in the Profit and Loss Account of the year in which the employee has rendered services. The expense is recognized at the present value of the amount payable, determined as per Actuarial Valuations. Actuarial gains and losses in respect of post employment and long term employee benefits are recognized in the Profit and Loss Account.

1.10 ''Taxes on income

Tax expense comprises both current tax & deferred tax. Current tax is the amount of tax payable on the assessable income for the year determined in accordance with the provisions of Income Tax Act 1961. Deferred tax is recognised on timing differences, being the difference between the taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax assests on unabsorbed tax losses and tax depreciation are recognised only when there is virtual certainty of their realiasation and or other items when there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assests can be realised. The tax effect is calculated and recognised at the rate of Income Tax pervailing at the Balance Sheet date or at the substantively enacted tax rate, subject to the consideration of purdance as per the Accounting Standards-22 "Accounting for Taxes on Income".

1.11 ''Provisions and contingencies

''A provision is recognised when there is present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for contingent liability is made when there is a possible obligation or a present obligation that may, but probably may not, require an outflow of resources. When there is a possible obligation ora present obligaion in respect of which likely hood of outflow of resources is remote, no provision or disclosure is made. Loss contingencies arising from claims, litigations, assessments, fines, penalties etc. are recorded when it is probable that the liability has been incurred and the amount can be resonably estimated.

1.12 Payment to Auditors

Particulars 31.03. 2014 31.03. 2013

Audit Fees Rs. 22000 Rs. 25000

For other services Rs. 18000 Rs. 15000

1.13 ''As regards compliance of Provision as per the requirement of Sec 22 of the Micro, Small and Medium enterprises act 2006 relating to dues to the Micro, Small and Medium enterprises. The company has not received from any parties claim to be small scale industries and the said information is not given.

1.14 ''Segment Information

The company is opereating only in one segment.

1.15 ''Related party disclosures under Accounting Standard-18

List of Related Parties where Control exists:

Samruddhi Finstock Ltd

Samruddhi Stock Brokers Ltd

Samruddhi Tradecom India Ltd

Bombay Exim Pvt Ltd

Jinal Finvest Pvt Ltd

Jimeet Developers Pvt Ltd

Ashwa Realty (India) Pvt Ltd

Galaxy Realty Pvt Ltd

Niralee Properties Pvt Ltd

High Rise Realty Pvt Ltd

Anish Properties Pvt Ltd

Saria Builders & Developers Pvt Ltd

Piyali Builders & developers Pvt Ltd

Rock Builders & Developers Pvt Ltd

Win Sure Trade Invest Private Limited

Hansa Villa Realty Private Limited

ICVL Chemicals Ltd.

ICVL Steels Ltd

Intellivate Capital Ventures Ltd.

1.18 Retirement Benefits

Long Term Employee Benefits are not provided because no employee has completed full year of service.

1.19 Provision for Taxes

Provision for current tax has been made as per the provisions ofthe Income Tax Act 1961.

1.20 ''In the opinion of Management, the Current Assets, Loans and Advances are approximately of the value as stated if realised in the ordinary course of business.

1.21 ''Balances standing to the debit/credit of parties is subject to confirmation by them and reviews by the Company.

1.22 The figures of the previous year have been regrouped, rearranged and reclassified wherever necessary to conform to current year''s classification.

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Mar 31, 2013

1.1 Basis of accounting and preparation of financial statements

The financial statements are prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to comply 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 statements have been prepared on accrual basis under the historical cost convention.The accounting policies adopted in the preparation of the financial statements are consistent with those followed in the previous year and comply with the mandatory accounting standards and statements issued by Institute of Chartered Accountants of India (ICAI).

1.2 Use of estimates

The preparation of the financial statements in conformity with Indian Generally Accepted Accounting Principals requires the Management to make estimates and assumptions that affect the reported amounts of Assets and Liabilities and disclosure of Contigent Liabilities at the end of Financial Statements and the results of operations during the reporting period end. The Management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Actual results could differ from those estimates and the differences between the actual results and the octimatec aro mrnnnicori in fho nan''Mi in i.ihii-h tho rociilte ana frnnwn / materialise_

1.3 Tangible fixed assets

Fixed assets, are stated at cost less accumulated depreciation / amortisation and impariment loss if any. cost comprises the purchase price and any attributeable cost of bring the assets to its working condotions for its intended

Intangible assets

Intangible assets are recognised in the year it is put to use at cost. Intangible assets are carried at cost less accumulated amortisation and accumulated impairment loss if any.

1.4 Depreciation and amortisation

Depreciation on Fixed Assets has been charged as per revised rates of depreciation prescribed in Schedule XIV to the _Companies Act, 1956.

Depreciation in respect of Assets acquired / Purchased / sold / dicarded during the year has been provided on pro-rata Intangible assets are amortised over useful life of the assets.

1.5 Investments

Long term investments are stated at cost less provision, for diminution which is other than temporary in nature. Current investments stated at lower of cost or market value.

1.6 Revenue recognition

Revenue from services rendered is recognized as and when services are rendered and related costs are incurred in accordance with the terms of the contractual agreement. Interest, as and when applicable, on refunds from statutory authorities is recognized when such interest is determinable, based on completed proceedings. Other interest income is recognized using time proportion method, based on interest i ale implicit in the transactions. Profit on sale of investments is recognized on completion of transactions.

1.7 Expenses

All materials known expenses and liabilities are provided for according to mercantile system on the basis of available information orestimates.

1.8 Foreign currency transactions and translations

Transactions denominated in foreign currency are recorded at the exchange rates prevailing on the date of transactions. I Exchange difference arising on foreign exchange transactions settled during the year are recognized in the profit and loss accounts of the year,

1.9 Employe ebenefits

Short term employee benefits are recognized as expenses at the undiscounted amounts in the year in which the related service is rendered.

Post employment and other long term employee benefits are recognized as an expense in the Profit and Loss Account of the year in which the employee has rendered services. The expense is recognized at the present value of the amount payable, determined as per Actuarial Valuations. Actuarial gains and losses in respect of post employment and long term employee benefits are recognized in the Profit and Loss Account.

1.10 Taxes on income

Tax expense comprises both current tax & deferred tax. Current tax is the amount of tax payable on the assessable income for the year determined in accordance with the provisions of Income Tax Act 1961.

Deferred tax is recognised on timing differences, being the difference between the taxable Income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax assests on unabsorbed tax losses and tax depreciation are recognised only when there is virtual certainty of their realiasation and or other items when there is reasonable certainty that sufficient future taxable income will be available against which such deferred tax assests can be realised. The tax effect is calculated and recognised at the rate of Income Tax pervailing at the Balance Sheet date or at the substantively enacted tax rate, subject to the consideration of purdance as per the Accounting Standards - 22" Accounting for Taxes on Income".

1.11 Provisions and contingencies

A provision is recognised when there is present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for contingent liability is made when there is a possible obligation or a present obligation that may, but probably may not, require an outflow of resources. When there is a possible obligation or a present obligaion in respect of which likely hood of outflow of resources is remote, no provision or disclosure is made. Loss contingencies arising from claims, litigations, assessments, fines, penalties etc. are recorded when it is probable that the liability has been incurred and the amount can be resonablv estimated.

1.12 As regards compliance of Provision as per the requirement of Sec 22 of the Micro, Small and Medium enterprises act 2006 relating to dues to the Micro, Small and Medium enterprises. The company has not received from any parties claim to be small scale industries and the said information is not given.

1.13 Segment Information

The company is opereating only in one segment.

1.14 Related party disclosures under Accounting Standard -18 List of Related Parties where Control exists:

Samruddhi Finstock Ltd Samruddhi Stock Brokers Ltd Samruddhi Tradecom India Ltd Bombay Exim Pvt Ltd Jinal Finvest Pvt Ltd Jimeet Developers Pvt Ltd Ashwa Realty (India) Pvt Ltd Galaxy Realty Pvt Ltd Niralee Properties Pvt Ltd High Rise Realty Pvt Ltd Anish Properties Pvt Ltd Saria Builders & Developers Pvt Ltd Piyali Builders & developers Pvt Ltd Rock Builders & Developers Pvt Ltd Win Sure Trade Invest Private Limited Hansa Villa Realty Private Limited ICVL Chemicals Ltd. ICVL Steels Ltd Intellivate Capital Ventures Ltd.

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Mar 31, 2012

1.1 Basis of accounting and preparation of financial statements

The financial statements are prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to comply 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 statements have been prepared on accrual basis under the historical cost convention.The accounting policies adopted in the preparation of the financial statements are consistent with those followed in the previous year and comply with the mandatory accounting standards and statements issued by Institute of Chartered Accountants of India (ICAI).

1.2 Use of estimates

The preparation of the financial statements in conformity with Indian Generally Accepted Accounting Principals requires the Management to make estimates and assumptions that affect the reported amounts of Assets and Liabilities and disclosure of Contigent Liabilities at the end of Financial Statements and the results of operations during the reporting period end. The Management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Actual results could differ from those estimates and the differences between the actual results and the estimates are recognised in the periods in which the results are known / materialise.

1.3 Tangible fixed assets

Fixed assets, are stated at cost less accumulated depreciation / amortisation and impariment loss if any. cost comprises the purchase price and any attributeable cost of bring the assets to its working condotions for its intended use.

Intangible assets

Intangible assets are recognised in the year it is put to use at cost. Intangible assets are carried at cost less accumulated amortisation and accumulated impairment loss if any.

1.4 Depreciation and amortisation

Depreciation on Fixed Assets has been charged as per revised rates of depreciation prescribed in Schedule XIV to the Companies Act, 1956.

Depreciation in respect of Assets acquired / Purchased / sold / dicarded during the year has been provided on pro-rata basis.

Intangible assets are amortised over useful life of the assets.

1.5 Investments

Long term investments are stated at cost less provision, for diminution which is other than temporary in nature. Current investments stated at lower of cost or market value.

1.6 Revenue recognition

Revenue from services rendered is recognized as and when services are rendered and related costs are incurred in accordance with the terms of the contractual agreement.

Interest, as and when applicable, on refunds from statutory authorities is recognized when such interest is determinable, based on completed proceedings. Other interest income is recognized using time proportion method, based on interest rate implicit in the transactions. Profit on sale of investments is recognized on completion of transactions.

1.7 Expenses

All materials known expenses and liabilities are provided for according to mercantile system on the basis of available information or estimates.

1.8 Foreign currency transactions and translations

Transactions denominated in foreign currency are recorded at the exchange rates prevailing on the date of transactions. Exchange difference arising on foreign exchange transactions settled during the year are recognized in the profit and loss accounts of the year.

1.9 Employee benefits

Short term employee benefits are recognized as expenses at the undiscounted amounts in the year in which the related service is rendered.

Post employment and other long term employee benefits are recognized as an expense in the Profit and Loss Account of the year in which the employee has rendered services. The expense is recognized at the present value of the amount payable, determined as per Actuarial Valuations. Actuarial gains and losses in respect of post employment and long term employee benefits are recognized in the Profit and Loss Account.

1.10 Taxes on income

i) Current Tax is determined as the amount of Tax payable in respect of Taxable income for the year.

ii) Income Tax expense comprises of current tax & deferred tax charges or credit. Deferred tax resulting from timing differences between book & tax profit is accounted at the current rate of tax, to the extent the timing difference are expected to crystallize, as deferred tax charge / benefit in the Profit & Loss account and as deferred tax assets / liabilities in the balance sheet. Where there is carry forward loss, deferred tax assets are recognised only if there is virtual certainty of realization in future.

1.11 Provisions and contingencies

A provision is recognised when there is present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for contingent liability is made when there is a possible obligation or a present obligation that may, but probably may not, require an outflow of resources. When there is a possible obligation or a present obligaion in respect of which likely hood of outflow of resources is remote, no provision or disclosure is made. Loss contingencies arising from claims, litigations, assessments, fines, penalties etc. are recorded when it is probable that the liability has been incurred and the amount can be resonably estimated.

1.12 Retirement Benefits

Long Term Employee Benefits are not provided because no employee has completed full year of service.

1.13 Provision for Taxes

No provision has been made in view of the loss incurred during the period.