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Notes to Accounts of Libord Securities Ltd.

Mar 31, 2015

1. In the opinion of the Board of Directors, the Current Assets, Loans and Advances are approximately of the value stated if realized in the ordinary course of business. The provision for all known liabilities is adequate and not in excess of amount reasonably necessary.

2. Pursuant to Transitional Provisions prescribed in Schedule II to the Companies Act 2013, The Company has adjusted an amount of Rs 1.10 lakhs against the opening Balance in the statement of Profit & Loss under Reserves & Surplus.

3. The balances of certain trade receivable / payable, short terms loans and advances are subject to confirmation & reconcilation thereof, if any.

4. RELATED PARTY DISCLOSURE

(As Identified & Certified by The Management of Company)

(1) As per Accounting Standard 18, the disclosures of transactions with the related parties are given below:

a) Parties Where control exist : Nil

b) Key Managerial Personnel :

Lalit Kumar Dangi Chief Executive Officer Ramesh Kumar Jain Chief Financial Officer

c) Other Parties with Whom the Company has entered into transaction or not during the year : (i) Libord Finance Limited

(ii) Libord Consultants Limited

(iii) Libord Exports Private Limited

(iv) Neha System Services Private Limited

(v) Vikrmaditya Trading Limited

(vi) Libord Advisors Private Limited

(vii) Libord Stock Brokers Private Limited

(viii) Libord Asset Reconstruction Company Private Limited

(ix) Libord Commodity Futures Private Limited

(x) Vee Global Financial Services Private Limited

5. The figures of the previous years have been regrouped / rearranged wherever necessary. The company has compiled the above accounts based on the revised/modified schedule III applicable for the accounting period 2014-2015. The disclosure requirements are made in the notes to accounts or by way of additional statements. The other disclosures as required by the Companies Act, 2013, are made in the notes to accounts.


Mar 31, 2014

1. CONTINGENT LIABILITIES Currency : Indian Rupee)

March 31, March 31, 2014 2013 Corporate Guarantees given to financial Institutions against

credit facilities extended to other bodies corporate - -

2. Balances of Sundry Debtors,Sundry Creditor and Loans and advances are subject to confirmation, reconciliation and concequential adjustments,if any.

3. Cash aggregating to Rs.10,39,987/- was embezzled by an employee of Surat branch of the Company, for which an insurance claim was lodged under infidelity of Employee Policy.The insurance Company has rejected the claim for which the Company has filed a case before the Maharasthra State Dispute Redressal Commission.The Case is pending for final hearing. However, during the year management has appropriated the said amount as provision for bad and doubtful debts.

4. Previous year figures have been regrouped / rearranged wherever necessary.


Mar 31, 2013

March 31, 2013 March 31, 2012 Rupees Rupees

1. Contingent Liabilities

Corporate Guarantees given to financial Institutions against - - credit facilities extended to other bodies corporate

2. Expenditure incurred on employees during the year who were in- receipt of Rs. 24,00,000 p.a. or Rs. 2,00,000 per month, if employed for part of the year

3. Imports calculated on CIF basis

4. Expenditure in foreign currency

5. Earnings in Foreign currency on FOB basis

6. Cash aggregating to Rs.10,39,987/- was embezzled by an employee of Surat branch of the Company, for which an insurance claim was lodged under infidelity of Employee Policy.The insurance Company has rejected the claim for which the Company has filed a case before the Maharasthra State Dispute Redressal Commission.The Case is pending for final hearing.

7. Balances of Sundry Debtors,Sundry Creditor and Loans and advances are subject to confirmation, reconciliation and concequential adjustments,if any.

8. Related Party Disclosure

(As identified & Certified by The Management Of Company)

(1)Relationship:

a)Parties Where control exist: Nil

b)Other Parties with Whom the Company has entered into transaction or not during the year - Associates

1 Libord Finance Limited

2 Libord Consultants Limited

3 Libord Export Private Limited

4 Neha System Service Private Limited

5 Vikrmaditya Trading Co. Limited

6 Libord Advisors Private Limited


Mar 31, 2011

1. Contingent Liabilities not provided for: -NIL

2. a) Sundry debtors include overdue debts of Rs.2,98,35,891 /-. The management has taken suitable measures including filing arbitration cases with the Stock Exchange etc. and is hopeful of recovering the same in due course of time.

b) A sum of Rs.15,00,000/- paid as advance towards purchase of immovable properties in earlier years, Company does not have any document other than receipts, considered to be doubtful not provided for.

3. Cash aggregating to Rs. 10,39,987/- was embezzled by an employee of Surat branch of the Company, for which an insurance claim was lodged under Infidelity of Employee Policy. The insurance Company has rejected Llbord Securities Limited believes In good Corporate Governance which results In Corporate excellence and attaining maximum level of transparency disclosures, accountability and equity in all its interaction with its Shareholders. Your Company continued to recognize the Importance of Corporate Governance to ensure fairness of the Shareholders. Corporate Governance envisages disclosures on various facets of Company's operations to achieve corporate excellence. The Company continued to shares with you from time to time various information through public notices, press releases and through Annual Reports. In addition, we give below the Information on areas covered under Corporate Governance.


Mar 31, 2010

1. Contingent Liabilities not provided for - NIL

2. a) Sundrydebtors include overdue debts of Rs.3,41,85,891/-. The management has taken suitable measures including filing arbitration cases with the Stock Exchange etc. and is hopeful of recovering the same in due course of time.

b) Loans and advances include overdue amounts aggregating to Rs.58,55,341/-.The management has taken suitable measures including filing legal cases etc. and is hopeful of recovering the same.

c) A sum of Rs. 15,00,000/- paid as advance towards purchase of immovable properties in earlier years, Company does not have any document other than receipts, considered to be doubtful not provided for.

3. Cash aggregating to Rs.10,39,987/- was embezzled by an employee of Surat branch of the Company, for which an insurance claim was lodged under Infidelity of Employee Policy. The insurance Company has rejected the claim for which the Company has filed a case before the Maharashtra State Dispute Redressal Commission. The case is pending for final hearing.

4. Balances of Sundry Debtors, Sundry Creditors and Loans and advances are subject to confirmation, reconciliation and consequential adjustments, if any.

5. The Company has complied revised AS-15 in respect of provision of Gratuity in the books for the previous year as well as for the current year.

6. The figures of the previous year have been regrouped / rearranged wherever considered necessary. Signatures to Schedules 1 to 13.


Mar 31, 2009

1. Contingent Liabilities not provided for. - NIL

2. a) Sundry debtors include overdue debts of Rs.3,80,86,142/-. The management has taken suitable measures including filing arbitration cases with the Stock Exchange etc. and is hopeful of recovering the same in due course of time.

b) Loans and advances include overdue amounts aggregating to Rs.58,55,341/-.The management has taken suitable measures including filing legal cases etc. and is hopeful of recovering the same.

c) A sum of Rs. 15,00,000/- paid as advance towards purchase of immovable properties in earlier years, Company does not have any document other than receipts, considered to be doubtful not provided for.

3. Cash aggregating to Rs.10,39,987/- was embezzled by an employee of Surat branch of the Company, for which an insurance claim was lodged under Infidelity of Employee Policy. The insurance Company has rejected the claim for which the Company has filed a case before the Maharashtra State Dispute Redressal Commission. The case is pending for final hearing.

4. Balances of Sundry Debtors, Sundry Creditors and Loans and advances are subject to confirmation, reconciliation and consequential adjustments, if any.

5. The Company has complied revised AS-15 in respect of provision of Gratuity in the books for the previous year as well as for the current year.

6. The figures of the previous year have been regrouped / rearranged wherever considered necessary.



 
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