Home  »  Company  »  Intellivate Capital  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Intellivate Capital Ventures Ltd.

Mar 31, 2015

Note 1. Rights, Preferences & Restrictions attach to equity shares

The Company has one class of Equity shares having par value of Rs 1 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the board of directors is subject to the approval of the shareholders in the ensuing Annul General Meeting, except in case of interim devidend.In the event of liquidation,the Equity Shareholder are eligible to receive the remeining assest of the company after distribution to all preferencial amounts, in proportion to there shareholding.

Note 2. Corporate information

Intellivate Capital Ventures Limited (the Company) is a Public Company and is incorporated under the provisions of The Comapnies Act,1956. Its shares are listed on Bombay Stock Exchange. The company is engaged in the Business of providing Advisory, Consultancy Investments Services, Trading in Shares.


Mar 31, 2014

Note 1.

Corporate information

Intellivate Capital Ventures Limited (the Company) is a Public Company and is incorporated under the provisions of The Comapnies Act,1956. Its shares are listed on Bombay Stock Exchange. The company is engaged in the Business of providing Advisory, Consultancy, Investments Services, Trading in Shares.

1.1 ''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.

1.2 ''Segment Information

The company is operating only in one segment.

1.3 ''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 EximPvt Ltd Jinal Finvest PvtLtd 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 SariaBuilders& Developers Pvt Ltd Piyali Builders &developers Pvt Ltd

Notes forming part of the on financial statements as on 31.3.2014

Rock Builders & Developers Pvt Ltd Win Sure Trade Invest Private Limited Hansa Villa Realty Private Limited ICVL Steels Ltd ICVL Chemicals Ltd. Intellivate Capital Ventures Ltd.

1.4 Retirement Benefits

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

1.5 Provision for Taxes

Provision for current tax has been made as perthe provisions of the Income TaxAct 1961.

1.6 Deferred Tax Liabilities

The break up of deferred tax liability dueto Tax effecton depreciation on assets is as under.

1.7 In the opinion of Management, the CurrentAssets, Loans and Advances are approximately of the value as stated if realised in the ordinary course of business.

1.8 No provision for diminution in the value of certain Long term Investments has been consider necessary, since in the opinion of the Management, such diminution in theirvalue istemporary in nature considering the nature of Investments.

1.9 Balancesstanding to the debit/credit of parties is subjectto confirmation by them and reviews by the Company.

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


Mar 31, 2013

Note 1:1 Corporate information

Intellivate Capital Ventures Limited (the Company) is a Public Company and is incorporated under the provisions of The Comapnies Act.1956. Its shares are listed on Bombay Stock Exchange The company is engaged in the Business of providing Advisory, Consultancy. Investments Services, Trading tn Shares.

2.1 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 giver

2..3 Segment Information

The company is opereating only in one segment.

2.4 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 Sana 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 Steels Ltd. ICVL Chemicals Ltd., Intellivate Capital Advisors Ltd.

2.5 Retirement Benefits

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

2.6 Provision for Taxes

Provision for current tax has been made as per the provisions of the Income Tax Act 1961,

2.7 im the opinion of Management the Current Assets, Loans and Advances- are approximately of the value as stated if realised in the ordinary course of

2.8 No provision for diminution in the vaiue of certain Long term Investments has been consider necessary, since in the opinion of the Management, such diminution in their value is temporary in nature considering the nature of Investments.

2.9 Balances standing to the dehit/credit of parties is subject to confirmation by them and reviews by the Company.

2.10 The figures of the previous year have been regrouped, rearranged and reclassified wherever necessary to conform to current year''s classification. The figures are not comparible with those of previous year due to demerger of the Advisory division, Chemical division and Steel

2.11 Consequent to the notification of Revised Schedule VI under the Companies Act, 1956 the financial statements for the year ended March 31,2013 are prepared as per Revised Schedue VI. Accordingly, the previous year figures have also been classified to confirm 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, 2012

During the previous year, pursuant to the scheme of Arrangement U/s 391 to 394 and other applicable provisions of the Companies Act, 1956 for demerger of Advisory Division, Chemical Division and Steel Division of the Company,is sanctioned and approved by the Hon’ble High Court of judicature at Bombay on 16th December 2011, and upon filing the said order with Registrar of Companies, with Maharashta on 20th January,2012. the said scheme became effective.

ii The scheme of arrangement has been given effect in these financial statements and in pursuant to the said scheme :

The said approved scheme of arrangement has been given effect with effect from Appointed date i.e. April 1, 2011 in these financial statements, pursuant to the provisions contained in Section 391 to 394 and other relevent provisions if any.

(a) Accordingly the Assets & Liabilities of divisions of the Advisory, Chemical and Steel are transferred to the resultant companies i.e. Intellivate Capital Advisors Ltd., ICVL Chemicals Ltd. and ICVL Steels LTD. at book values and on a going concern basis, in accordance with Section 2(19AA) of the Income Tax Act, 1961.

The existing Shareholders of Intellivate Capital Ventures Ltd. (Demerged Company) have been issued and alloted shares of ' the resulting companies as under:

1 {Twenty One) fully paid Equity Shares of Rs.10/- each of Inteitivate Capital Advisors Ltd. - The First resulting company for every 200(Two Hundred) fully paid Equity Shares of Rs.1/- each held by them in Intellivate Capital Ventures Ltd.

2(Eleven) fully paid Equity Shares of Rs.10/- each of ICVL Chemicals Ltd. - The Second resulting company for every 100(0ne Hundred) fully paid Equity Shares of Rs.1/~ each held by them in Intellivate Capital Ventures Ltd.

Corporate information

Intellivate Capital Ventures Limited (the Company) is a Public Company and is incorporated under the provisions of The Comapnjes Act, 1956. Its shares are Jjsted on Bombay Stock Exchange. The company is engaged in the Business of providing Advisory, Consultancy, Investments Services, Trading in Shares, Steel & Chemicals.

3.1 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 smal scale industries and the said information is not given.

3.2 Segment Information

The company was operating in four segments i.e. Consulting, Trading in Steel, Trading in Chemicals and Investments required under Accounting Standard-17 "Segment Reporting" as notified by the companies (Accounting standards ) Rules 2006 (as amended) are as under._

During the previous year, pursuant to the scheme of Arrangement U/s 391 to 394 and other applicable provisions of the Companies Act,1956 for demerger of Advisory Division, Chemical Division and Steel Division of the Company,is sanctioned and approved by the Hon’ble High Court of judicature at Bombay on 16th December 2011, and upon filing the said order with Registrar of Companies, with Maharashta on 20th January,2012, the said scheme became effective.

The said approved scheme of arrangement has been given effect with effect from Appointed date i.e. April 1, 2011 in these financial statements, pursuant to the provisions contained in Section 391 to 394 and other relevent provisions if any, at book values and on a going concern basis, in accordance with Section 2(19AA) of the Income Tax Act, 1961. Accordingly the Assets & Liabilities of divisions of the Advisory, Chemical and Steel are transferred to the resultant companies i.e. Intellivate Capital Advisors Ltd., ICVL Chemicals Ltd. and ICVL Steels LTD.

Thus at the year end only one segment remained with the company and hence segment reporting for Financial year 2011- 2012 is not given. .

3.3 Related party disclosures under Accounting Standard - 1` List of Related Parties where Control exists:

Samruddhi Finstock Ltd

Samruddhi Stock Brokers Ltd

Samruddhi Equities & Securities Services Ltd

Bombay Exim Pvt Ltd

Jinaf Finvest Pvt Ltd

Jimeet Developers Pvt Ltd

Ashwa Realty (India) Pvt Ltd

Galaxy Realty Pvt Ltd

Niralee Properties Pvt Ltd

High Rise Realty Pvt Lid

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 Steels Ltd.

ICVL Chemicals Ltd.

Intellivate Caoital Advisors Ltd.

3.4 Retirement Benefits

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

3.5 Provision for Taxes

Provision for current tax has been made U/s 115JB of the Income Tax Act 1961.

3.6 In the opinion of Management, the Current Assets, Loans and Advances are approximately of the va!ue as stated if realised in the ordinary course of business.

3.7

No provision for diminution in the value of certain Long term Investments has been consider necessary, since in the opinion of the Management, such diminution in their value is temporary in nature considering the nature of Investments.

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

3.9 The figures of the previous year have been regrouped, rearranged and reclassified wherever necessary to conform to current year’s classification. The figures are not compatible with those of previous year due to demerger of the Advisory division, Chemical division and Steel division.

3.10 financial statements for the year ended March 31, 2011 were prepared as per the then appalicable ,erstwhile Schedule VI of 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 Schedue VI. Accordingly, the previous year figures have also been classified to confirm 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

1) Contingent liabilities not provided for

Current Period Rs. Nil (Previous Year Rs. Nil)

2) During the year the company has made full provision of Sundry Debtors for Rs.7,62,175/- and written off the same, for which the company initiated legal action and the award of arbitrator has been appealed by other party.

3) 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.

4) Segment Information

The company is operating in four segments i.e. Consulting, Trading in Steel, Trading in Chemicals and Investments as required under Accounting Standard-17 "Segment Reporting" as notified by the companies (Accounting standards ) Rules 2006 (as amended) are as under.

5) Related party disclosures under Accounting Standard - 18

List of Related Parties where Control exists:

Samruddhi Finstock Ltd

Samruddhi Stock Brokers Ltd

Samruddhi Commodities Trading Ltd

Samruddhi Equities & Securities Services 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 Steels Ltd.

ICVL Chemicals Ltd.

Intellivate Capital Advisors Ltd.

6) Share Capital

The Company had made right issue of 24,25,000, equity shares of Rs. 10/- each at a premium of Rs.40/- per share in the ratio of 5:1 in the last year. During the year the company has received allotment money and call money of the right issue, accordingly Equity share capital is Rs.2,91,00,000 and Security premium is Rs.l0,66,00,000/at the year end.

The Paid up Capital on 31.03.2010 was Rs.l,09,12,500/-(Paid up value: 48,50,000/- Eq. share of Rs.l0/-paid up and 24,25,000/- Eq shares Rs.2.5/-paid up.

During the year the company has split the Equity shares of Rs. 10 each fully paid into Rs. 1 each fully paid.

7) Retirement Benefits

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

8) Provision for Taxes

The company has made provision for current tax as per the provisions of Income Tax Act 1961.

9)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.

10) No provision for diminution in the value of certain Long term Investments has been consider necessary, since in the opinion of the Management, such diminution in their value is temporary in nature considering the nature of Investments.

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

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


Mar 31, 2010

1) Contingent liabilities not provided for

Current Period Rs. Nil (Previous Year Rs. Nil)

2) Sundry Debtors considered good in schedule 4 include Rs.7,14.060/- for which the company initiated legal action; since the award of arbitrator has been appealed by other party, no accounting effect has been given to said award in the accounts.

3) Segment Information

The Company is primarily engaged in the business of financial services and therefore, segment reporting, as required under Accounting Standard - 17, is not applicable.

4) Related party disclosures under Accounting Standard -18 List of Related Parties where Control exists: Samruddhi Finstock Ltd

Samruddhi Stock Brokers Ltd

Samruddhi Commodities Trading Ltd

Samruddhi Equities & Securities Services 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

Sana 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

Transactions with Related Parties during the year:

5) Para 3,4C & 4D of Part II of Schedule VI to the Companies Act, 1956 are not applicable to the company.

6) Right Issue

The Company has made a right issue as per the resolution passed by the Board of Directors of the Company at its meeting held on September 26.2009 on a rights basis to the existing equity shareholders in the ratio of 5 (Five) equity shares for every 1 (One) fully paid up equity share held in the Company, at a price of Rs. 50/- per equity share (Face Value Rs. 10/- & Premium: Rs. 40/- per equity share),

Accordingly the Company has made right issue of 24,25,000, equity shares of Rs. 10V- each at a premium of Rs.40/-per share in the ratio of 5:1 on 11.03.2010. The application money received Rs.2.50/-per share towards face value at Rs. 10/- Premium per share, an allotment has been made on 26.03.2010.

The Paid up Capital on 31.03.2010 is Rs.1,09,12,500/-(Paid up value: 48,50,000/- Eq. share of Rs.10/-paid up and 24,25,000/- Eq shares Rs.2.5/-paid.up

7) Retirement Benefits

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

8) Provision for Taxes

The company has made provision for current tax as per the provisions of Income Tax Act 1961.

9) Deferred Tax Assets / Liabilities

Since there are no timing differences between taxable income and accounting income capable of being reversal in subsequent periods, Deferred Tax Asset / liability has not been created.

10) 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.

11) The figures of the previous year have been regrouped, rearranged and reclassified wherever necessary.

If undelivered please return to :

INTELLIVATE CAPITAL VENTURES LTD

(Formerly known as K. B. STEEL LIMITED)

66/1, Hansa Villa, Opp. South Indian Gymkhana, Bhaudaji Cross Road, Matunga (CR), Mumbai, PIN 400 019

Find IFSC