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Notes to Accounts of Jindal Capital Ltd.

Mar 31, 2015

1 Corporate information

The Company was incorporated in the name of Jindal Capital Limited on June 20,1994.The Company was engaged in trading and investments in shares and other securities;providing loans & advances and other related activities.

2 Prior Year Comparatives

The previous year's figures are regrouped, rearranged, or recast wherever necessary to conform to this year's classification.

3 Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006

Based on the information available with the Company, the balance due to micro and small enterprises as defined under the MSMED Act, 2006 is Rs. Nil (Previous year Rs. Nil) and no interest has been paid or is payable under the terms of the MSMED Act, 2006

4 Related party transactions

Key Management Personnel (KMP):-

- Pawan Jindal

- Sarita Agarwal

Relatives of KMP's:-

- Shray Jindal (son of Director)

- Paridhi Jindal

Enterprises owned or significantly influenced by KMP or their Relatives

-PKJ securities Private limited


Mar 31, 2014

1 Corporate information

The Company was incorporated in the name of Jindal Capital Limited on June 20,1994.The Company was engaged in trading and investments in shares and other securities;providing loans & advances and other related activities.

2 Prior Year Comparatives

The previous year''s figures are regrouped, rearranged, or recast wherever necessary to conform to this year''s classification.

3 Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006

Based on the information available with the Company, the balance due to micro and small enterprises as defined under the MSMED Act, 2006 is Rs. Nil (Previous year Rs. Nil) and no interest has been paid or is payable under the terms of the MSMED Act, 2006

4 Related party transactions

Key Management Personnel (KMP):-

Pawan Jindal - Sarita Agarwal

Relatives of KMP''s:-

Shray Jindal (son of Director)

Enterprises owned or significantly influenced by KMP or their Relatives

PKJ securities Private limited


Mar 31, 2013

1 Corporate information

The Company was incorporated in the name of Jindal Capital Limited on June 20,1994.The Company was engaged in trading and investments in shares and other securities providing loans & advances and other related activities.

2 Prior Year Comparatives

The previous year''s figures are regrouped, rearranged, or recast wherever necessary to conform to this year''s classification.

3 Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006

Based on the information available with the Company, the balance due to micro and small enterprises as defined under the MSMED Act, 2006 is Rs. Nil (Previous year Rs. Nil) and no interest has been paid or is payable under the terms of the MSMED Act, 2006

4 Related party transactions

Key Management Personnel (KMP)

- Pawan Jindal

- Sarita Agarwal

Enterprises owned or significantly influenced by KMP or their Relatives

- PKJ securities Private limited


Mar 31, 2012

1 Corporate information

The Company was incorporated in the name of Jindal Capital Limited on June 20,1994.The Company was engaged in trading and investments in shares and other securities; providing loans & advances and other related activities. During the year the company was amalgamated with Scan Services Private limited.This scheme of amalgamation was approved by Hon'ble Delhi High Court and is operative with effect from April 1,2011.

2 Scheme of Amalgamation

Amalgamation of Scan Services Pvt Ltd (the Transferor Company) with Jindal Capital Ltd (the Transferee Company) in terms of the Scheme of Amalgamation framed under sections 391 and 394 of the Companies Act, 1956, was approved by the Hon'ble High Court of Delhi at New Delhi vide its order dated 1st December, 2011.

II. The Salient features of the Scheme of Amalgamation are as follows:

a) All assets and liabilities including Income Tax and all other statutory liabilities, if any, of the Transferor Company will be transferred to and vest in the Transferee Company with effect from the Appointed Date- 1st April, 2011.

b) All the employees of the Transferor Company in service on the Effective Date, if any, shall become the employees of the Transferee Company on and from such date without any break or interruption in service and upon terms and conditions not less favorable than those subsisting in the Transferor Company on the said date.

c) The Appointed Date for Amalgamation is 1st day of April, 2011.

The Transferee Company will issue and allot 2 (two) Equity Shares of Rs. 10 each of the Transferee Company, credited as fully paid up, for every 5 (five) Equity Shares of Rs. 2 each held in the Transferor Company.

Any fraction of share arising out of the aforesaid share exchange process, if any, will be rounded off to nearest whole number.

III. Prior to the amalgamation, the Transferor Company was engaged in trading and investments in shares and other securities; providing loan & advances and other related activities.

IV. In terms of the Scheme of Amalgamation, as approved by the Hon'ble Delhi High Court, the amalgamation is operative with effect from the Appointed Date-lst April, 2011. Hence, it has been given effect to in the present audited accounts for the year ended 31st March, 2012. Accordingly, the present audited accounts of the Transferee Company consists of financial figures of the Transferee Company for the year of the Transferor Company for the year ended 31st March, 2012-

V. In terms of the Scheme, the Transferee Company will issue and allot 40,00,000 Equity Shares of Rs. 10 each to the members of the Transferor Company, in exchange of 100% share capital of the Transferor Company after the cancellation of cross holding, if any.

VI. The Scheme of Amalgamation has been accounted for under the Pooling of Interests Method as prescribed under the Accounting Standard-14 (AS-14). Accordingly, all the assets, liabilities and reserves of the Transferor Company have been recorded in the Company's books at their existing carrying amounts and in the same form. Inter- company balances, if any, has been cancelled. The following accounting treatment has been given to some of the amalgamation issues:

b) Surplus/deficit arising out of Amalgamation being the difference between the paid up value of the Equity Shares of the Transferor Company and paid up value of new Equity Shares to be issued by the Transferee Company has been adjusted in combined Reserves and Surplus of the Transferee Company and the resultant figure is debited to Goodwill account as per the following:

3 Prior Year Comparatives

Revised Schedule VI to the Companies Act,1956 has been introduced by MCA vide Notification No. 50447(E) dated 28/02/2011. The New Schedule becomes effective for Balance Sheet and Statement of Profit and Loss to be prepared for the financial year commencing on or after 1/04/201l.Therefore the previous year's figures are regrouped, rearranged, or recast wherever necessary to conform to this year's classification.

Since the Scheme of Amalgamation has been given effect to in the current year accounts as explained in Note No 3, the current year figures are not comparable with the previous year figures.

4 Disclosures required under Section 22 of the Micro. Small and Medium Enterprises Development Act, 2006

Based on the information available with the Company, the balance due to micro and small enterprises as defined under the MSMED Act. 2006 is Rs. Nil (Previous year Rs. Nil) and no interest has been paid or is payable under the terms of the MSMED Act, 2006


Mar 31, 2010

1. Particulars of company wise investments including investments held as stock-in-trade are disclosed. As per the legal advice obtained, the company is an investment company in terms of the proviso to section 372 (10) of the companies Act, 1956. Accordingly, particulars of only those investments, which exist on the date of the Balance Sheet, have been disclosed.

2. The Company has debited Rs. 14,516/- to profit & loss account towards Deferred Tax Liability for the current year ended 31.03.2010 in compliance with the- Accounting Standard relating to "Accounting for taxes on income -AS-22 issued by the Institute of Chartered Accountants of India made mandatory w.e.f 01.04.2001.

3. Related Party Disclosures

Key Management Personnel:

Mr. Pawan Jindal (Director)

Mrs. Santa Aggarwal (Director)

Enterprises owned or significantly influenced by key, management personnel or their relatives.

Related Enterprises;

PKJ Securities Pvt. Ltd. Scan Services Pvt. Ltd. PKJ Fabrics Pvt. Ltd.

4. The figures for the previous period have been regrouped, wherever necessary, to make them comparable with those of the current year.

5. Additional information pursuant to Schedule VI Part-II of the Companies Act, 1956

 
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