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Notes to Accounts of M B Parikh Finstocks Ltd.

Mar 31, 2015

1 Corporate information

M. B. Parikh Finstocks Limited (hereinafter referred to as "the company") is a member of National Stock Exchange and deals in trading in shares, securities and commodities through recognised stock Exchanges in India.

Note Particulars For the year ended For the year ended 31 March, 2015 31 March, 2014

2 Contingent liabilities to the extent not provided for

Claims against the company not acknowledged as debt 1,500,000 1,500,000


Mar 31, 2014

1. Corporate information

M. B. Parikh Finstocks Limited (hereinafter referred to as "the company") is a member of National Stock Exchange and deals in trading in shares, securities and commodities through recognised stock Exchanges in India.

Note Particulars For the year For the year ended ended 31 March, 2014 31 March, 2013

2. Contingent liabilities to the extent not provided for

Claims against the company not acknowledged as debt 90,85,000 90,85,000

3. Basic and diluted earnings per share

Net profit / (loss) for the year from continuing operations 40,855 -4,45,805 Weighted average number of equity shares 30,00,000 30,00,000 Earnings per share from continuing operations - Basic 0.01 -0.15 Face value per equity share 10.00 10.00

4. Deferred tax liability

Tax effect of items constituting deferred tax liability

Impact of difference between tax depreciation and depreciation charged for the year (2,03,689) (2,26,895)

Total (2,03,689) (2,26,895)


Mar 31, 2013

1 Corporate information

The company is a member of National Stock Exchange and deals in trading in shares, securities and commodities through recognised stock Exchanges in India.

Note 2 Previous year''s figures

The Revised Schedule VI has become effective from 1 April, 2012 for the preparation of financial statements.

This has significantly impacted the disclosure and presentation made in the financial statements. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.


Mar 31, 2012

1 Corporate information

The company is a member of National Stock Exchange and deals in trading in shares, securities and commodities through recognized stock Exchanges in India.

Note 2 Employee benefit plans

As the Number of employees of the Company is below the prescribed limit for registration under the Provident Fund Act and other legislative pertaining to employees.

The Company has not made any provision for gratuity and/or retirement funds

Note 3 Segment information

The company doesn't have more than one reporting segment in terms of AS-17" Segment Reporting".

Note: - Figures in brackets relate to the previous year.

Note 4 Previous year's figures

The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure. CONTINGENT LIABILITIES AND COMMITMENTS As at As at 31 st March, 2012 31 st March, 2011 (I) Contingent Liabilities

(a) Claims against the company / disputed liabilities

Not acknowledged as debt

(a) In respect of joint ventures - 1

(b) In respect of others 1,396 1,666

The Company has recognized deferred tax asset on unabsorbed depreciation to the extent of the corresponding deferred tax liability on the difference between the book balance and the written down value of fixed assets under Income Tax (or) The Company has recognized deferred tax asset on unabsorbed depreciation and brought forward business losses based on the Management's estimates of future profits considering the non-cancellable customer orders received by the Company


Mar 31, 2010

1. In the opinion of the Board and to the best of their knowledge and belief the value of realization of loans, advances and current assets in the ordinary course of business will not be less than the amount at which they are stated in the Balance Sheet.

2. Auditors Fees: Rs. 47,250/- (Previous Years Rs. 47,250/-)

3. Retirement Benefits:

It is informed to us that the company is not required to be registered under Provident Fund Act. Further the provisions for gratuity, superannuation funds and other funds, E.S.I, of Employees State Insurance Act are not applicable.

4. Notes on Cash Flow Statement:

The Cash Flow Statement has been prepared using the indirect method specified in Accounting Standard - 3 "Cash Flow Statements" issued by the Institute of Chartered Accountants of India.

5. Contingent Liabilities

Claim against the company amounting to Rs.90.85 Lacs that may arise in respect of matters in appeal/challenged by the company in Writ-not acknowledged as debt. The company does not expect any payment in respect of the above contingent liability.

6. Earning Per Share (Rs.) 0.28 0.09

7. Related Party Transaction:

(i) Key Management Personnel:

Mr. Mahesh Parikh Non-Executive Chairman

Mr. Digant Parikh Managing Director

Mr. Santosh Patole Vice President and CFO

Mr. Imtiyazul Hasan Chief Dealer and COO

Mrs. Aarti Naik Compliance Officer (CDSL)

Ms. Mitali Solanki Accounts &Finance Executive

Other Transactions:

According to information and explanation given to us there are no transactions except stock broking transactions entered into amongst related parties during the year at prevailing market price at the time of transaction. The company has acted in its capacity of stock Broker only.

8. Segment Reporting:

The company does not have more than one reportable segment in terms of AS 17 - "Segment Reporting" issued by the Institute of Chartered Accountants of India.

9. Foreign Currency Transaction:

No Foreign Currency transactions entered into during the reporting period.

10. Previous year figures have been recast / regrouped / restated wherever necessary.

 
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