Mar 31, 2014
1. Nature of Business
Jagsonpal Finance & Leasing Ltd.(the Company) is registered as a
Non-Banking Financial Company (NBFC) as defined under Section 45-IA of
Reserve Bank of India Act, 1934. The company is engaged in the business
of Finance, Leasing & Trading of shares and commodities.
NOTE 2: Disclosure of details as required in terms of paragraph 13 of
Non-Banking Financial (Non-Deposit Accepting or Holding) Companies
Prudential Norms (Reserve Bank) Directions, 2007)
NOTE 3: SEGMENT REPORTING
a) During the year no leasing or hire purchasing activity carried out.
b) As on date the company''s operations are confined to interest on
loans, trading of shares securities, commodities and real estate old
investment and old recovery of dues from its customers.
NOTE 4: PRIOR YEAR COMPARATIVES
Previous year''s figures have been regrouped/reclassified wherever
necessary to correspond with the current year''s
classification/disclosure.
Mar 31, 2013
1. Nature of Business
Jagsonpal Finance & Leasing Ltd.(the Company) is registered as a
Non-Banking Financial Company (NBFC) as defined under Section 45-IA of
Reserve Bank of India Act, 1934. The company is engaged in the business
of Finance, Leasing & Trading of shares and commodities.
NOTE 2: SEGMENT REPORTING
a) During the year no leasing or hire purchasing activity carried out.
b) As on date the company''s operations are confined to interest on
loans, trading of shares securities, commodities and real estate old
investment and old recovery of dues from its customers.
NOTE 3: PRIOR YEAR COMPARATIVES
Previous year''s figures have been regrouped/reclassified wherever
necessary to correspond with the current year''s
classification/disclosure.
Mar 31, 2012
1. Nature of Business
Jagsonpal Finance & Leasing Ltd.(the Company) is registered as a
Non-Banking Financial Company (NBFC) as defined under Section 45-IA of
Reserve Bank of India Act, 1934. The company is engaged in the business
of Finance, Leasing & Trading of shares and commodities.
NOTE 2: SEGMENT REPORTING
a) During the year no leasing or hire purchasing activity carried out.
b) As on date the company's operations are confined to interest on
loans, trading of shares securities & commodities, old investment and
old recovery of dues from its customers.
NOTE 3: PRIOR YEAR COMPARATIVES
Till the year end March 31, 2011, the company had adopted pre-revised
Schedule VI as required by the Companies Act, 1956, for preparation and
presentation of its financial statements. During the year ended March
31, 2012, the revised Schedule VI notified under the Companies Act,
1956, has become applicable to the company. Previous Year's figure
have been regrouped/reclassified wherever necessary to correspond with
the current year's classification/disclosure. The adoption of revised
Schedule VI does not impact recognition and measurement principle
followed for preparation of financial statements.
Mar 31, 2011
1) The accounts are prepared on the basis of historical costs, as a
going concern and are consistent with the generally accepted Accounting
Principles and are in accordance with mandatory Accounting Standards
specified u/s 211 (3C) of Companies Act, 1956.
2) Receivables and payables are subject to analysis and confirmation by
the parties.
3) In the opinion of the management, the Current Assets, Loans &
Advances have a value on realization in ordinary course of business at
least equal to the amount at which they are stated.
4) No remuneration has been paid to Directors.
5) There has been no related Party Transaction.
6) The Cases where court proceedings have been initiated the provision
for Bad Debts has already been provided in earlier years.
7) The provisions for Doubtful debts in respect of dues from its
debtors has already been made in earlier years.
8) Details of Investments referred to in Schedule-3 (Long Term)
Current Year Previous Year
10) Contingent Liability Nil Nil
12) In respect of car shown in balance sheet the lease period is over
and amount receivable is disputed and the company has filed cases
against lessee.
13) In view of the cumulative losses incurred by the Company no
provision for deferred tax liability is needed, as required by the
Accounting Standard 22, 'Accounting for Taxes on lncome'(AS22), issued
by the Institute of Chartered Accountants of India.
14) Segment Reporting
1} During the year no leasing or hire purchasing activity carried out.
2} As on date the company's operations are confined to interest on
loans, trading of shares securities & commodities, old investment and
old recovery of dues from its customers.
Mar 31, 2010
1) The accounts are prepared on the basis of historical costs, as a
going concern and are consistent with the generally accepted Accounting
Principles and are in accordance with mandatory Accounting Standards
specified u/s 211 (3C) of Companies Act, 1956.
2) Receivables and payables are subject to analysis and confirmation by
the parties.
3) In the opinion of the management, the Current Assets, Loans &
Advances have a value on realisation in ordinary course of business at
least equal to the amount at which they are stated.
4) No remuneration has been paid to Directors.
5) There has been no related Party Transaction.
6) The Cases where court proceedings have been initiated the provision
for Bad Debts has already been provided in earlier years.
7) The provisions for Doubtful debts in respect of dues from its
debtors has already been made in earlier years.
8) Details of Investments referred to in Schedule-3 (Long Term)
Current Year Previous Year
9) Contingent Liability: Nil Nil
11) Payment & Provision for
Auditors relating to :
Audit Fees 15000 15000
Other Matters 10000 0
Certification Charges 10000 8750
10) In respect of car shown in balance sheet the lease period is over
and amount receivable is disputed and the company has filed cases
against lessee.
11) In view of the cumulative losses incurred by the Company no
provision for deferred tax liability is needed, as required by the
Accounting Standard 22, Accounting for Taxes on Income (AS22), issued
by the Institute of Chartered Accountants of India.
12) Segment Reporting
i) During the year no leasing or hire purchasing activity was carried
out.
ii) As on date the companys operations are confined to interest on
loans, trading of shares securities & commodities, old investment and
old recovery of dues from its customers.
13) Expenditure in Foreign Currency Rs. Nil.
Income in Foreign Currency. Rs. Nil.
14) Previous years figures have been regrouped and recast wherever
necessary.