Notes to Accounts of Joindre Capital Services Ltd.

Mar 31, 2018

1. Related Party Transactions a) Details of related parties

Description of relationship Names of related parties

Subsidiary Company Joindre Commodities Limited

Key Managerial Persons: Anil Mutha, Dinesh Khandelwal, Paras Bathia, Pramod Surana, Subhash Agarwal,

Sunil Jain, Vijay Pednekar

Relatives of Key Managerial Persons: Anil Mutha HUF, Bhagwatidevi Khandelwal, Dinesh Khandelwal HUF, Fenny Yogesh Bathia,

K. C. Jain HUF, Kanchanbai Jain, Kiran Khandelwal, Neeraj Mutha, Neha Sanghvi, Nikita Jain, Nitin Milapchand Jain, Nitin Jain HUF, Paras Bathia HUF, Pradeep Jain HUF, Pradeep Jain, Pravin Mutha, Priti Sumit Baid, Radhika Khandelwal, Ratna Bathia, Sandhya Agarwal, Sneha Agarwal, Saurabh Agarwal, Sangeeta Sunil Jain, Seema Mutha, Shubham Sunil Jain, Subhash Agarwal HUF, Sunil M. Jain HUF, Sunita C. Runwal, Swati Mehta, Vijaya K. Raisoni, Vikas Khandelwal, Vishal D. Khandelwal, Yogesh Bathia.

Companies/ Firms over which the Key Esam Share & Stock Brokers Pvt. Ltd., Goodluck Enterprises, Keshav Realtors, Pvt. Ltd, Managerial Persons/ Relatives have Deity Commercial Pvt. Ltd., Mumbai Stock Brokers Pvt. Ltd., Mutha Resources Pvt. Ltd., significant influence or control: Nalanda Mercantiles Pvt. Ltd., Neharaj Stock Brokers Pvt. Ltd., Pinky Venture Pvt, Ltd.,

Ringman Investments & Finance Company Pvt. Ltd., Shree Swati Investments.

2. Segment Information

The Company is engaged in business of share stock broking & allied activities and there are no separate reportable segments as per Accounting Standard- 17 on "Segment Reporting"

3. Additional information to the financial statements

a) Sundry Debtors, Creditors, Loans and Advances are subject to confirmation and reconciliation, if any. In the opinion of the Board, the Current Assets, Loans and Advances are stated approximately at the value, if realized in ordinary course of business.

b) The Company had paid a sum of Rs. 7,01,00,000/- to M/s. Kamani Tubes Ltd. towards obtaining sub-lease of the property belonging to them subject to fulfillment of certain conditions as stated in MOUs. However due to dispute between M/s. Kamani Tube Ltd. and Mumbai Port Trust, M/s. Kamani Tubes Ltd. is unable to obtain the necessary permission for transfer of the rights of sub-lease and possession of the said property to the Company. Accordingly the Company is not in a position to enforce its rights of sub-lease and obligations under the MOUs signed between the concerned parties to the transaction and the matter is under dispute. Currently the matter is sub-judice and the Company is in the process of seeking legal remedies available to it, in order to settle the dispute.

c) Micro and Small Enterprises: I) There is no interest paid/payable during the year by the Company to the suppliers covered under Micro, Small, Medium Enterprises Development Act, 2006. ii) The above information takes into account only those suppliers who have responded to the enquiries made by the Company for this purpose.

d) The previous year''s figures have been regrouped or rearranged wherever necessary.

---

Mar 31, 2015

A) Terms / Right attached to shares

i) The Company has one class of equity shares having par value of Rs, 10/- per share. Each holders of equity shares is entitled to one vote per share held. The Company declares and pays dividend in Indian rupees. The dividend if proposed by the Board of Directors is subject to the approval of shareholders in the ensuing Annual General Meeting, except in case of interim dividend.

ii) In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amounts, in proportion to their shareholding.

a) Aggregated amount of unquoted investments value of - 20,645,349/- ( Previous year Rs, 20,477,349/-)

b) Aggregated amount of quoted investments value of Rs, 31,072,180/- ( Previous year Rs, 23,167,000/- ) and Market Value there of Rs, 35,054,285/- ( Previous year Rs, 22,880,340/- )

Note: In accordance with the provisions of Schedule II of the Act, in case of fixed assets which have completed their useful life as at 1 April 2014, the carrying value (net of residual value) amounting to Rs, 10.36 lacs (net of deferred tax of Rs, 4.96 lacs) as a transitional provision has been recognized in the Retained Earnings.

1) Further in case of assets acquired prior to 1st April 2014, the carrying value of assets (net of residual value) is depreciated over the remaining useful life as determined effective 1st April, 2014.

2) Depreciation and amortization expenses for the year would have been higher by Rs, 1.53 lacs had the company continued with the previous assessment of useful life of such assets.

1. Related Party Transactions

a) Details of related parties

Description of relationship Names of related parties

Subsidiary Company Joindre Commodities Limited

Key Managerial Persons: Anil Mutha, Dinesh Khandelwal, Paras Bathia, Subhash Agarwal, Sunil Jain

Relatives of Key Managerial Persons: Anil Mutha HUF, Bhagwatidevi Khandelwal, C. D. Mutha, Dinesh Khandelwal HUF, Fenny

Yogesh Bathia, Jaya Nitin Jain, K. C. Jain HUF, Kanchanbai Jain, Kiran Khandelwal, Milapchand Jain HUF, Neeraj Mutha, Neha Sanghvi, Nikita Jain, Nitin Milapchand Jain, Nitin Jain HUF, Paras Bathia HUF, Pradeep M. Jain, Pradeep Jain HUF, Pravin Mutha, Priti Bathia, Radhika Khandelwal, Ratna Bathia, Sachin M. Jain, Sachin Jain HUF, Sandhya Agarwal, Sneha Agarwal, Saurabh Agarwal, Sangeeta Jain, Seema Mutha, Shalini Sachin Jain, Shubham Sunil Jain, Subhash Agarwal HUF, Suganbai Bathia, Sumit Baid, Sunita C. Runwal, Sunil Jain HUF, Swati P. Bathia, Vijaya K. Raisoni,Vikas Khandelwal, Vishal D. Khandelwal, Yogesh Bathia.

Companies / Firms over which the Key Anil Mutha Securities Pvt. Ltd., Esam Share & Stock Brokers Pvt. Ltd., Goodluck Managerial Persons / Relatives have Enterprises, Keshav Realtors, Pvt. Ltd, Malhar Traders Pvt. Ltd., Mumbai Stock Brokers significant influence or control: Pvt. Ltd., Nalanda Mercantiles Pvt. Ltd., Neharaj Stock Brokers Pvt. Ltd., Ringman Investments & Finance Company Pvt. Ltd., Shree Swati Investments.

2. Segment Information

The Company is engaged in business of share & stock broking & allied activities and there are no separate reportable segments as per Accounting Standard- 17 on "Segment Reporting"

3. Additional information to the financial statements

a) Sundry Debtors, Creditors, Loans and Advances are subject to confirmation and reconciliation, if any. In the opinion of the Board, the Current Assets, Loans and Advances are stated approximately at the value, if realized in ordinary course of business.

b) Consequent upon the judgment of Hon'ble Supreme Court dated 1st February, 2001 in the case of BSE Brokers Forum, Bombay & Others etc versus Securities & Exchange Board of India (SEBI) & Others etc., the Company has paid the registration fees for cash segment. During the financial year 2004-05 the Securities & Exchange Board of India (SEBI) had forwarded to the Company, Fee Liability Statements for BSE Cash Segment showing outstanding principal amount of Rs, 609.24 Lacs plus interest thereon ( to be calculated under the SEBI (Interest Liability Regularization Scheme), 2004). The Company had filed an appeal before the Securities Appellate Tribunal (SAT), Mumbai challenging the said liability. The Hon'ble SAT had passed an interim order restraining the SEBI from enforcing the said liability subject to certain conditions. As per the interim order passed by the SAT, the Company had made payment of the principal and interest amount aggregating to Rs, 19.19 Lacs (for all memberships under the scheme). The Hon'ble SAT, Mumbai has passed a final order dated 9th May, 2006 in favour of the Company and have directed SEBI to consider the claim of the Company by passing an appropriate order. However SEBI has since preferred an appeal against the said order before Hon'ble Supreme Court and the matter is subjudiced.

c) The Company had paid a sum of Rs, 7,01,00,000/- to M/s. Kamani Tubes Ltd. towards obtaining sub-lease of the property belonging to them subject to fulfillment of certain conditions as stated in MOUs. However due to dispute between M/s. Kamani Tube Ltd. and Mumbai Port Trust, M/s. Kamani Tubes Ltd. is unable to obtain the necessary permission for transfer of the rights of sub-lease and possession of the said property to the Company. Accordingly the Company is not in a position to enforce its rights of sub-lease and obligations under the MOUs signed between the concerned parties to the transaction and the matter is under dispute. Currently the matter is sub-judice and the Company is in the process of seeking legal remedies available to it, in order to settle the dispute.

d) Micro and Small Enterprises: i) There is no interest paid/payable during the year by the Company to the suppliers covered under Micro, Small, Medium Enterprises Development Act, 2006. ii) The above information takes into account only those suppliers who have responded to the enquiries made by the Company for this purpose.

e) The previous year's figures have been regrouped or rearranged wherever necessary.

---

Mar 31, 2014

(in Rupees)

31st March, 2014 31st March, 2013

1 Contingent Liabilities and Commitments (to the extent not provided for)

a) Contingent Liabilities

i) In respect of bank guarantee to stock exchanges against fixed deposits of Rs. 78,732,191/- ( previous year 7 81,206,313/-) 127,000,000 142,000,000

ii) Claim against the Company not acknowledged as debts in respect of SEBI turnover fee matter {Refer note - 28(b)} 60,924,000 60,924,000

iii) Claim against the company in respect of disputed income tax matters.

The Company has been legally advised that the demand is not tenable. 3,237,745 4,937,483

iv) Other Matters 704,294 -

191,866,039 207,861,483

2 Related Party Transactions

a) Details of related parties

Description of relationship Names of related parties

Subsidiary Company Joindre Commodities Limited

Key Managerial Persons: Anil Mutha, Dinesh Khandelwal, Paras Bathia, Subhash Agarwal, Sunil Jain

Relatives of Key Managerial Persons;

Anil Mutha HUF, C. D. Mutha, Dinesh Khandelwal HUF, Jaya Nitin Jain, K. C. Jain HUF, Kanchanbai Jain, Kiran Khandelwal, Milapchand Jain HUF, Neeraj Mutha, Neha Sanghvi, Nitin Jain, Nitin Jain HUF, Nikita Jain, Paras Bathia HUF, Pradeep M. Jain, Pradeep Jain HUF, Pravin Mutha, Prrti Bathia, Radhika Khandelwal, Ratna Bathia, Sachin M. Jain, Sachin Jain HUF, Sandhya Agarwal, Sneha Agarwal, Saurabh Agarwal, Sangeeta Jain, Seema Mutha, Shalini Sachin Jain, Shubham Sunil Jain, Subhash Agarwal HUF, Suganbai Bathia, Sunil Jain HUF, Swati P. Bathia, Vikas Khandelwal, Yogesh Bathia.

Companies / Firms over which the Key Managerial Persons / Relatives have significant influence or control:

Anil Mutha Securities Pvt. Ltd., Esam Share & Stock Brokers Pvt. Ltd., Goodluck Enterprises, Joindre Finance Pvt. Ltd., Malhar Traders Pvt. Ltd., Mumbai Stock Brokers Pvt. Ltd., Nalanda Mercantiles Pvt. Ltd., Neharaj Stock Brokers Pvt. Ltd., Ringman Investments & Finance Company Pvt. Ltd., Shree Swati Investments, Sachins Lifestyle Insurance Broker Pvt. Ltd.

3 Segment Information

The Company is engaged in business of share & stock broking & allied activities and there are no separate reportable segments as per Accounting Standard- 17 on "Segment Reporting"

4 Additional information to the financial statements

a) Sundry Debtors, Creditors, Loans and Advances are subject to confirmation and reconciliation, if any. In the opinion of the Board, the Current Assets, Loans and Advances are stated approximately at the value, if realised in ordinary course of business.

b) Consequent upon the judgment of Hon''ble Supreme Court dated 1st February, 2001 in the case of BSE Brokers Forum, Bombay & Others etc versus Securities & Exchange Board of India (SEBI) & Others etc., the Company has paid the registration fees for cash segment. During the financial year 2004-05 the Securities & Exchange Board of India (SEBI) had forwarded to the Company, Fee Liability Statements for BSE Cash Segment showing outstanding principal amount of Rs. 609.24 Lacs plus interest thereon (to be calculated under the SEBI (Interest Liability Regularisation Scheme), 2004). The Company had filed an appeal before the Securities Appellate Tribunal (SAT), Mumbai challenging the said liability. The Hon''ble SAT had passed an interim order restraining the SEBI from enforcing the said liability subject to certain conditions. As per the interim order passed by the SAT, the Company had made payment of the principal and interest amount aggregating to Rs. 19.19 Lacs (for all memberships under the scheme). The Hon''ble SAT, Mumbai has passed a final order dated 9th May, 2006 in favour of the Company and have directed SEBI to consider the claim of the Company by passing an appropriate order. However SEBI has since preferred an appeal against the said order before Hon''ble Supreme Court and the matter is subjudiced.

c) The Company had paid a sum of Rs. 7,01,00,000/- to M/s. Kamani Tubes Ltd. towards obtaining sub-lease of the property belonging to them subject to fulfillment of certain conditions as stated in MOUs. However due to dispute between M/s. Kamani Tube Ltd. and Mumbai Port Trust, M/s. Kamani Tubes Ltd. is unable to obtain the necessary permission for transfer of the rights of sub-lease and possession of the said property to the Company. Accordingly the Company is not in a position to enforce its rights of sub-lease and obligations under the MOUs signed between the concerned parties to the transaction and the matter is under dispute. Currently the matter is sub-judice and the Company is in the process of seeking legal remedies available to it, in order to settle the dispute.

d) Micro and Small Enterprises: I) There is no interest paid/payable during the year by the Company to the suppliers covered under Micro, Small, Medium Enterprises Development Act, 2006. ii) The above information takes into account only those suppliers who have responded to the enquiries made by the Company lor this purpose.

e) The previous year''s figures have been regrouped or rearranged wherever necessary.

---

Mar 31, 2013

1 Operating Lease: Company as lessee

The Company has taken various office premises under operating lease or leave license agreement. The lease terms in respect of such premises are on the basis of individual agreement entered into with respective landlords. The Company has given refundable interest free security deposits in accordance with the agreed terms. The lease payment are recognised in the statement of profit and loss under "Rent" in Note - 21

2 Segment Information

The Company is engaged in business of share & stock broking & allied activities and there are no separate reportable segments as per Accounting Standard - 17 on "Segment Reporting"

3 Additional information to the financial statements

a) Sundry Debtors, Creditors, Loans and Advances are subject to confirmation and reconciliation, if any. In the opinion of the Board, the Current Assets, Loans and Advances are stated approximately at the value, if realised in ordinary course of business.

b) Consequent upon the judgment of Hon''ble Supreme Court dated 1st February, 2001 in the case of BSE Brokers Forum, Bombay & Other etc versus Securities & Exchange Board of India (SEBI) & Others etc., the Company has paid the registration fees for cash segment. During the financial year 2004-05 the Securities & Exchange Board of India (SEBI) had forwarded to the Company, Fee Liability Statements for BSE Cash Segment showing outstanding principal amount of Rs. 609.24 Lacs plus interest thereon ( to be calculated under the SEBI (Interest Liability Regularisation Scheme), 2004). The Company had filed an appeal before the Securities Appellate Tribunal (SAT), Mumbai challenging the said liability. The Hon''ble SAT had passed an interim order restraining the SEBI from enforcing the said liability subject to certain conditions. As per the interim order passed by the SAT, the Company had made payment of the principal and interest amount aggregating to Rs. 19.19 Lacs (for all memberships under the scheme). The Hon''ble SAT, Mumbai has passed a final order dated 9th May, 2006 in favour of the Company and have directed SEBI to consider the claim of the Company by passing an appropriate order. However SEBI has since preferred an appeal against the said order before Hon''ble Supreme Court and the matter is subjudiced.

c) Micro and Small Enterprises: i) There is no interest paid/payable during the year by the Company to the suppliers covered under Micro, Small, Medium Enterprises Development Act, 2006. ii) The above information takes into account only those suppliers who have responded to the enquiries made by the Company for this purpose.

d) The previous year''s figures have been regrouped or rearranged wherever necessary.

---

Mar 31, 2012

A) Terms/Right attached to shares

i) The Company has one class of equity shares having par value of Rs. 10/- per share. Each holders of equity shares is entitled to one vote per share held. The Company declares and pays dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of share holders in the ensuing Annual General Meeting, except in case of interim dividend.

ii) In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amounts, in proportion to their shareholding.

c) Details of shareholders holding more than 5% shares in the Company

1 Contingent Liabilities and Commitments (to the extent not provided for)

i) Contingent liabilities

In respect of bank guarantee to stock exchanges against fixed deposits of Rs. 81,817,287 (previous year Rs. 123,939,398 ) 152,000,000 243,500,000

ii) Claim against the Company not acknowledged as debts in respect of SEBI turnover fee matter 60,924,000 60,924,000

iii) Claim against the company in respect of disputed income tax matters.

The Company has been legally advised that the demand is not tenable. 4,937,483 2,260,528

217,861,483 306,684,528

iv) Commitments

Capital commitment not provided (net of advances) 99,300,000 99,300,000

317,161,483 405,984,528

2 Employee Benefits

Defined benefit plan and long term employment benefit Gratuity [ Defined benefit plan ]:

a) General description:

The Company has a defined benefit gratuity plan. Every employee who has completed five years or more of service gets a gratuity on death or resignation or retirement at 15 days salary [ last drawn salary ] for each completed year of service. The scheme is funded with an insurance company in the form of a qualifying insurance policy.

3 Segment Information

The Company is engaged in business of share & stock broking & allied activities and there are no separate reportable segments as per Accounting Standard- 17 on "Segment Reporting"

4 Additional information to the financial statements

a) Sundry Debtors, Creditors, Loans and Advances are subject to confirmation and reconciliation, if any. In the opinion of the Board, the Current Assets, Loans and Advances are stated approximately at the value, if realised in ordinary course of business.

b) Consequent upon the judgment of Hon'ble Supreme Court dated 1st February, 2001 in the case of BSE Brokers Forum, Bombay & Other etc versus Securities & Exchange Board of India (SEBI) & Others etc., the Company has paid the registration fees for cash segment. During the financial year 2004-05 the Securities & Exchange Board of India (SEBI) had forwarded to the Company, Fee Liability Statements for BSE Cash Segment showing outstanding principal amount of Rs. 609.24 Lacs plus interest thereon ( to be calculated under the SEBI (Interest Liability Regularisation Scheme), 2004). The Company had filed an appeal before the Securities Appellate Tribunal (SAT), Mumbai challenging the said liability. The Hon'ble SAT had passed an interim order restraining the SEBI from enforcing the said liability subject to certain conditions. As per the interim order passed by the SAT, the Company had made payment of the principal and interest amount aggregating to Rs. 19.19 Lacs (for all memberships under the scheme). The Hon'ble SAT, Mumbai has passed a final order dated 9th May, 2006 in favour of the Company and have directed SEBI to consider the claim of the Company by passing an appropriate order. However SEBI has since preferred an appeal against the said order before Hon'ble Supreme Court and the matter is sub-juiced.

c) Micro and Small Enterprises: I) There is no interest paid/payable during the year by the Company to the suppliers covered under Micro, Small, Medium Enterprises Development Act, 2006. ii) The above information takes into account only those suppliers who have responded to the enquiries made by the Company for this purpose.

d) For the year ended 31st march 2012, the Revised Schedule VI notified under The Companies Act, 1956 has become applicable to the company for preperation and presentation of its financial statement. The adoption of Revised Schedule VI does not impact recognition and measurement principles followed for preparation of financial statements. However it has significant impact on presentation and disclosures made in the financial statement. The company has also reclassified, regrouped the previous year figures in accordance with the requirements applicable in the Current Year.

---

Mar 31, 2010

(In Rupees)

Particulars 31st March, 2010 31st March, 2009

1) Contingent Liabilities:

a) In respect of Bank Guarantees to Slock Exchanges (Against Fixed Deposits of Rs.8.40.24,362 (8,40.24.204)) 16,60,00,000 16,60,00.000

b) Claim against the Company not acknowledged as debts in respect of SEBI turnover fee matter ( Refer Note No 9 60,924,000 60,924,000 given as below)

c) Capital Commitment not provided for (net of advances) 104,300,000 119,300,000

2) The previous years figures have been regrouped or rearranged wherever necessary and the figures have been rounded of to the nearest rupees

3) Sundry Debtors. Creditors. Loans and Advances are subject to confirmation and reconciliation, if any In the opinion of the Board, the Current Assets, Loans and Advances are stated approximately at the value, it realised in ordinary course of business,

4) Consequent upon the judgment of the Honbfe Supreme Court dated 1st February, 2001 in the case Of BSE Brokers Forum. Bombay 8 Others etc, versus Securities & Exchange Board of India (SEBI) & Others etc. the Company has paid the registration fees for cash segment. During the financial year 2004-05 the Securities & Exchange Board of India {SEBI) had forwarded to the Company. Fee Liability Statements for BSE Cash Segment showing outstanding principal amount of Rs, 609.24 lacs plus inferesf thereon (to be calculated under the SEBI (Interest Liability Regulanzation Scheme) 2004). The Company had filed an appeal before the Securities Appellate Tribunal (SAT), Mumbai challenging the said liability. The Honble SAT had passed an interim order restraining the SEBI from enforcing the said liability subject to certain conditions. As per the Interim order passed by the SAT. the Company had made payment of the principal and interest amount aggregating to Rs, 19.19 lacs (for all memberships under the scheme). The Honbie SAT, Mumbai has passed a final order dated 9" May 2006 in favour of the Company and have directed SEBI to consider the claim of the company by passing an appropniale order. However SEBI has since preferred an appeal against said order before Honble Supreme Court

5) The Company is engaged in business of share & stock broking & allied activities and there are no separate reportable segments as par Accounting Standard -17on "Segment Reporting"

6) The Company has no outstanding dues to any Small Scale Industrial Undertaking.