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Notes to Accounts of Kovalam Investment and Trading Co. Ltd.

Mar 31, 2014

1. RELATED PARTY DISCLOSURES

INFORMATION RELATED TO RELATING PARTY TRANSACTION AS PER ACCOUNTING STANDARD — 18 ISSUED BY INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA IS GIVEN BELOW

A) ASSOCIATES

Oswal Woollen Mills Ltd. Nahar Capital and Financial Services Ltd, Nahar Spinning Mills Ltd, Nahar Industrial Enterprises Ltd. Nahar Poly Films Ltd, Oswal Leasing Ltd, Vardhman Investment Ltd, Atam Vallabh Financiers Ltd,

2. Earning per Shares

The calculation of Earning Per Share (EPS) as disclosed in the "Statement of Profit and Loss has been made in accordance with Accounting Standard (AS)-20 "Earning Per Share" issued by Companies (Accounting Standards) Rules, 2006.

3. Transfer to Statutory Reserve Fund

A sum of Rs.41,83,000/- (Previous Year Rs.24,25,000/-) transferred from P & L Appropriation A/c to Statutory Reserve Fund A/c in compliance with the provisions of Section 45- IC of RBI Act for the year ending 31.03.2014.

4. A Statement of disclosure in terms of paragraph 13 of Non - Banking Finance Companies (Non-deposit accepting or holding) Prudential Norms (Reserve Bank) Directions 2007 is annexed

5. Provision for Standard Asset

As per RBI Guidelines a Provision of 0.25% of Standard Asset has been created.

6. Provision for Doubtful Debt

As per RBI Guideline a Provision of 10% of Doubtful Debt has been created.


Mar 31, 2013

Note No. 1 RELATED PARTY DISCLOSURES

INFORMATION RELATED TO RELATING PARTY TRANSACTION AS PER ACCOUNTING STANDARD - 18 ISSUED BY INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA IS GIVEN BELOW : M ASSOCIATES OSWAL WOOLLEN MILLS LIMITED

B) KEY MANAGEMENT PERSONNEL

1. SH. SAT PAUL NIJHAWAN.

2. SH. GAGNISH KUMAR BHALLA

3. SH. NAVDEEP SHARMA

Note No. 2 Transfer to Statutory Reserve Fund

A sum of Rs.24,25,000/- (Previous Year Rs.23,26,000/-) transferred from P & L Appropriation A/c to Statutory Reserve Fund A/c in compliance with the provisions of Section 45- IC of RBI Act for the year ending 31.03.2013.

Note: 3

A Statement of disclosure in terms of paragraph 13 of Non - Banking Finance Companies (Non-deposit accepting or holding) Prudential Norms (Reserve Bank) Directions 2007 is annexed

Note: 4 Provision for Standard Asset

As per RBI Guidelines a Provision of 0.25% of Standard Asset has been created.

Note No. 5

Notes 1 To 22 form an integral part of the Balance Sheet and Profit and Loss Account have been duly authenticated as such.


Mar 31, 2012

A) Segment Revenue includes Income directly identifiable with/allocable to the segment including intersegment revenue.

b) Expenses that are directly identifiable with/allocable to segments are considered for determining the Segment Result. The expenses which relate to the Company as a whole and not allocable to segments, are included under "other unallocable expenditure."

c) Segment assets includes all operating assets I.e. investment and current assets used by the segment.

d) Segment Liabilities consists of creditors and other liabilities directly attributable to segment but does not include tax & financial liabilities.

Note No. 1 RELATED PARTY DISCLOSURES

INFORMATION RELATED TO RELATING PARTY TRANSACTION AS PER ACCOUNTING STANDARD - 18 ISSUED BY INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA IS GIVEN BELOW :

A) ASSOCIATES

OSWAL WOOLLEN MILLS LIMITED

Note: 2 Provision for Standard Asset

As per RBI Guidelines a Provision of 0.25% of Standard Asset has been created.

Note: 3

In compliance with the Ministry of Corporate Affairs Notification No.2/6/2008 - C L dated 30 March 2011, the financial statements of the company for the year ended 31 March 2012 have been drawn up in accordance with the terms of the revised Schedule VI to the Companies Act. The adoption of the revised Schedule VI does not impact the measurement and recognition principles followed for the preparation of financial statements. However, it has significant impact on the presentation of and disclosures made in the financial statements. The company has also recast the previous year's figures to meet the requirements of the revised Schedule VI.

Note No. 4

Notes 1 To 23 form an integral part of the Balance Sheet and Profit and Loss Account have been duly authenticated as such.


Mar 31, 2011

1) SEGIMENT REPORTING.

As per Accounting Standard 17 issued by the of Chartered Accountants of India, regarding Segment.

SIGMENT ACCOUNTING POLICIES:

a) Segment Revenue Includes Income directly identifiable with/allocable to the segment including incensement revenue.

b) Expenses that are directly identifiable with/allocable to segments are considered for determining the Segment Result The expenses which relate to the Company as a whole and not allocable to segments, are included under "otter unallowable expenditure."

c) Segment assets includes all operating assets I.e. investment and current assets used by the segment

d) Segment Liabilities consists of creditors and other liabilities directly attributable to segment but does not include tax & financial liabilities.

2. RELATED PARTY DISCLOSURES

INFORMATION RELATED TO RELATING PARTY TRANSACTION AS P'6H ACCOUNTING STANDARD - 18 ISSUED BY INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA IS GIVEN BELOW :

3. DEFERRED TAX ASSETSLIABILITY

As per accounting standard 22. of the Institute of chartered Accounts of India, is as under.

1 Companies In the same group means companies under the same management as per Section 370 (1B) of the Companies Act, 1956.

2. for investments In case of unquoted shares, it is assumed that market value Is same as book value.

4) Previous year figures have been re-grouped/re-arranged wherever considered necessary.

5) Schedule I to VIII form an integral part of the Balance Sheet and Profit and Loss Account and have been duly authenticated as such.

 
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