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Notes to Accounts of Kumbhat Financial Services Ltd.

Mar 31, 2014

1 CONTINGENT LIABILITIES AND COMMITMENTS:

1.1 CONTINGENT LIABILITES

Claims against the company not acknowledged as debts Nil Nil

1.2 COMMITMENTS:

a. Estimated amount of Contracts remaining to be executed on capital account not provided for Nil Nil

b. Other commitments Nil Nil

2 EMPLOYEE BENEFITS OBLIGATIONS

2.1 Defined Contribution Plans :

The benefits of the defined contribution plan in the form of provident fund is not applicable to , the company

2.2 Defined Benefit Plans :

The net value of the defined benefit commitment is detailed below:

The company has not created any fund into which contributions are made. Hence furnishing of information on Return on Plan Assets does not arise

Actuarial Calculations used to Estimate defined benefit commitments and expenses are based on the following assumptions, which if charged, would affect the defined benefit commitment''s size.

3. Other information pursuant to paragraph 4C and 4D of part II Schedule VI to the Companies Act, 1956 is not applicable to the Company.

4. INFORMATION IN RESPECT OF OPENING STOCK, PURCHASES, SALES AND CLOSING STOCK OF SHARES TRADED IN :


Mar 31, 2012

1. CONTINGENT LIABILITIES AND COMMITMENTS:

1.1 CONTINGENT LIABILITES

Claims against the company not acknowledged as debts Nil Nil

2.2 COMMITMENTS:

a. Estimated amount of Contracts remaining to be executed on capital account not provided for Nil Nil

b. Other commitments Nil Nil

21 EMPLOYEE BENEFITS OBLIGATIONS

3.1 Defined Contribution Plans :

The benefits of the defined contribution plan in the form of provident fund is not applicable to the company

4.2 Defined Benefit Plans :

The company offers its employees defined benefit plans in the form of gratuity ( a lump sum amount). Benefits under the defined benefit plans are based on the years of service and the employees last drawn salary immediately before exit. The gratuity scheme covers substantially all regular employees. However the company has not created any fund in accordance with the scheme, commitments are actuarially determined at the year end. on adoption of the revised Accounting Standards (AS 15) on "Employees Benefits" notified under the companies (Accounting standards) Rules, 2006, actuarial valuation is done based on "Project Unit Credit Method". Gains and Loss of changed actuarial assumptions are charged to Profit & Loss Account. The obligation for leave Encashment benefits is not recognized

2. Figures for the Previous period have been regrouped/ rearranged wherever necessary.


Mar 31, 2011

1. Contingent Liabilities. : Nil

2. Other information pursuant to paragraph 4C and 4D of part II Schedule VI to the Companies Act, 1956 is not applicable to the Company.

3. Employee benefits Obligations:

(i) Defined contribution plans:

The benefits of the defined contribution plan in the form of provident fund is not applicable to the company.

(ii) Defined Benefit Plans:

The company offers its employees defined benefit plans in the form of gratuity (a lump sum amount). Benefits under the defined benefit plans are based on years of service and the employees last drawn salary immediately before exit. The gratuity scheme covers substantially all regular employees. However the company has not created any fund in accordance with the scheme. Commitments are actuarially determined at year end. On adoption of the revised

Accounting

Standard (AS 15) on "Employee Benefits" notified under the Companies (Accounting Standards) Rules, 2006, actuarial valuation is done based on "Projected Unit Credit Method". Gains and loss of changed actuarial assumptions are charged to Profit & Loss Account. The obligation for leave Encashment benefits is not recognized.

The Institute of Chartered Accountants of India, in May 2007 released its Guidance on the implementation of the Revised Accounting Standard on 'Employee Benefits" (AS 15 Revised 2005). The present value of the obligation, Actuarial assumptions and its charge to the Profit & Loss Account and has been adopted by the company in the financial year 2010-11.

4. Figures for the previous period have been regrouped / rearranged wherever necessary.

5. Figures have been rounded off to the nearest rupee.


Mar 31, 2010

1. Contingent Liabilities. : Nil

2. Other information pursuant to paragraph 4C and 4D of part II Schedule VI to the Companies Act. 1956 is not applicable to the Company.

3. Employee benefits Obligations:

(i) Defined contribution plans:

The benefits of the defined contribution plan in the form of provident fund is not applicable to the company

(ii) Defined Benefit Plans:

The company offers its employees defined benefit plans in the form of gratuity (a lump sum amount). Benefits under the defined benefit plans are based on years of service and the employees last drawn salary immediately before exit. The gratuity scheme covers substantially all regular employees. However the company has not created any fund in accordance with the scheme. Commitments are actuarially determined at year end. On adoption of the revised Accounting

Standard (AS 15) on "Employee Benefits" notified under the Companies (Accounting Standards) Rules, 2006. actuarial valuation is done based on "Projected Unit Credit Method". Gains and loss of changed actuarial assumptions are charged to Profit & Loss Account. The obligation for leave Encashment benefits is not recognized.

The Institute of Chartered Accountants of India, in May 2007 released its Guidance on the implementation of the Revised Accounting Standard on Employee Benefits" (AS 15 Revised 2005) The present value of the obligation. Acturial assumptions and its charge to the Profit & Loss Account and has been adopted by the company in the financial year 2009-10.

4. Figures for the previous period have been regrouped / rearranged wherever necessary.

5. Figures have been rounded off to the nearest rupee.

 
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