Mar 31, 2018
A. TERMS/ RIGHTS ATTACHED TO EQUITY SHARES
The Company has only one class of equity share having par value of Re 1/- per share. Each holder of Equity share is entitled to one vote per share.
In the event of liquidation of the company, the holder of equity shares will be entitled to receive remaining assets of the Company after distribution of all preferential amounts. The Distribution will be in proportion to the number of equity share held by the shareholders._
As per the records of the Company, including its Register of Members and other declarations received from the shareholders regarding beneficial interest, the above shareholder represents legal ownership of shares.
B. SHARES ISSUED FOR CONSIDERATION OTHER THAN CASH
Out of the above 94,94.50.000 (PY: 94,94.50,000) equity shares have been issued for consideration other than cash.
NOTE-1 OTHER NOTES ON ACCOUNTS
i Based on the information / documents available with the Company, no creditor is covered under Micro, Small and Medium Enterprise Development Act, 2006. As a result, no interest provision/payments have been made by the Company to such creditors, if any, and no disclosures thereof are made in these accounts.
ii Balance of Loans & Advances at the end of the year are subject to confirmation by the respective parties.
iii Segment Report :
The Company is engaged in the business of Non-Banking Financial Services and there arc no separate reportable segments as per Accounting Standard 17 issued by The ICAI.
iv Related Party Disclosure :
As per accounting standard 18 the information for related parties is given below:
Name of the related parties
ASSOCIATES - None
SUBSIDIARIES/WHOLLY OWNED SUBSIDIARIES - None
KEY MANAGEMENT PERSONNEL ( KMP )
1. Pradeep Kumar Daga : Managing Director
2. Kirti Sharma : Whole Time Director
3. Anand Kumar Jain : Chief Financial Officer
4. Kirti Sharma (Resign i.e. 23.06.2017) : Company Secretary
5. Namrata Saboo (Appointed i.e. 27.07.2017) : Company Secretary
ENTERPRISE IN WHICH KMP ANY THEIR RELATIVES HAS SUBSTANTIAL INTEREST - None
RELATED PARTY TRANSACTION
v The Company has Complied this information based on the current information in its possession as at 31.03.2018, No supplier has intimated the Company about its status as a Micro or Small enterprise or its Registration with the appropriate authority under the Micro, Small and Medium Enterprises Development Act, 2006
Amount due to Micro Small and Medium Enterprises as on 31.03.2018 Rs. NIL ( P. Y. Rs. NIL )
vi Deferred Taxation :
In the opinion of the management, the Company has provided the provisions for deferred tax on account of timing differences for the period in which there is virtual certainty of sufficient future income for realisation in future years, in accordance with AS-22 âAccounting For Taxes On Incomeâ issued by the Institute of Chartered Accountants of India.
vii Provision for taxation on Income for the year has been made on income computed under normal computation as per IT Act, tax being higher than tax computed on income under section 115JB of the income tax act, being Minimum alternate tax. Further the Company has not availed Mat Tax Credit brought forward from earlier years.
viii The management has assessed that there is no impairment of Fixed assets requiring provisions in the accounts. Accordingly, there is no debit to the Profit & Loss Account for the impairment of assets.
ix Keeping in view the introduction of GST and to align the same with books of accounts we recommend that do not make provision regarding the audit fes for the financial year 2017-18. The same shall be taken in the books of accounts as and when we raise the bill for audit fees. Consequently do not deduct the TDS on the audit fees in the quarter ending on 31.03.2018 and the same shall be deducted in the quarter when the bill will be raised. Due notes shall be given in Financial Statements regarding this. Kindly note that this is being done so that there can be seamless flow of ITC.
x No Provision has been made on account of gratuity as none of the employees have put in completed years of Service as required by the Payment of Gratuity Act.
xi The company has complied the revised Accounting standard - 15 âEmployee Benefitsâ notified under the Companies (Accounting Standards) Rules, 2006. There is no present obligation of any post employment benefit including gratuity during the year. Therefore no actuarial gain or loss arose at the end of the year.
xii No provision has been made on account of leave salary as there are no leave to the credit of employees as at the end of the year.
xiii The company has considered Tax Credit on income received on the basis of income recognised by it in the Books. However the same is subject to confirmation by the appropriate authorities. Any difference will be accounted for in subsequent accounting year.
xiv Previous Year figures have been regrouped, rearranged or recasted wherever considered necessary to make them comparable with the figures of the current year.
xv Particulars required to be furnished by the NBFCs as per paragraph 13 of Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 issued by the RBI are given as per Annexure attached hereto.
xvi No provisions has been made for fall, if any, in the break-up value of unquoted securities, held as Investments, diminution where, if any, is not permanent in nature.
Mar 31, 2016
remaining useful life.
B. TERMS/ RIGHTS ATTACHED TO EQUITY SHARES
The Company has only one class of equity share having par value of Rs. 10/- per share. Each holder of Equity share is entitled to one vote per share
In the event of liquidation of the company, the holder of equity shares will be entitled to receive remaining assets of the Company after distribution of all preferential amounts. The Distribution will be in proportion to the number of equity share held by the shareholders_
D, SHARES ISSUED FOR CONSIDERATION OTHER THAN CASH
Out of the above 9,49,45,000 (PY : 9,49,45,000) equity shares have been issued for consideration other than cash._
NOTE-21 OTHER NOTES ON ACCOUNTS
i Based on the information / documents available with the Company, no creditor is covered under Micro, Small and Medium Enterprise Development Act, 2006. As a result, no interest provision/payments have been made by the Company 10 such creditors, if any, and no disclosures thereof are made in these accounts.
ii Balance of Loans & Advances at the end of the year are subject to confirmation by the respective parties.
iii Segment Report :
The Company is engaged in the business of Non-Banking Financial Services and there are no separate reportable segments as per Accounting Standard 17.
iv Related Party Disclosure :
As per accounting standard 18 the information for related parties is given below:
Name of lhe related parties
ASSOCIATES - None
SUBSID1ARIES/WIIOLLY OWNED SUBSIDIARIES - None
KEY MANAGEMENT PERSONNEL ( KMP )
1. Pradeep Kumar Daga : Managing Director
2. Kirti Sharma (from 16/02/2016) : Whole Time Director
3. Anand Kumar Jain (from 17/08/2015) : Chief Financial Officer
4. Kirti Sharma (from 07/02/2016) : Company Secretary
5. Tapas Mondal (resign on 08/07/2015) : Chief Financial Officer
6. Sanjaya Kumar Rout (resign on 06/02/2016) : Company Secretary
7. Tapas Mondal (resign on 08/07/2015) : Whole Time Director
8. Vinita Daga (resign on 06/02/2016) : Director (wife of Pradeep Kumar Daga)
ENTERPRISE IN WHICH KMP AND THEIR RELATIVES HAS SUBSTANTIAL INTEREST - None
v The Company has Complied this information based on the current information in its possession as at 31.03.2016, No supplier has intimated the Company about its status as a Micro or Small enterprise or its Registration with the appropriate authority under the Micro, Small and Medium Enterprises Development Act, 2006
Amount due to Micro Small and Medium Enterprises as on 31.03.2016 Rs. NIL ( P.Y. Rs. NIL )
vi Deferred Taxation :
In the opinion of the management, the Company has provided the provisions for deferred tax assets on account of carry forward losses as well as on the timing differences for the period in which there is virtual certainty of sufficient future income for realization in future years, in accordance with AS-22 " Accounting For Taxes On Income " issued by the Institute of Chartered Accountants of India.
vii The Company has availed MAT credit entitlement amounting to Rs. I 10050.
viii The Financial Statement and Notes on Account has been prepared as per Companies Act, 2013 with their Schedule as the same is effective from 1st April, 2014.
ix Provision for taxation on Income for the year has been made under section 115JB of the income tax act, being Minimum alternate tax higher than tax calculated on income under normal computation as per income tax act. Accordingly the statement of profit and loss has been credited minimum alternate tax credit receivable has been debited with similar amount.
x The company has transferred as on 26.05.2015, the following investments held by it as Non Current Investments to stock in trade.
1. STATE BANK OH INDIA 1500 Shares
2. TATA MOTORS 1000 Shares
xi The company has booked all losses arising from Futures & Options transactions marking them mark to market. As on 31.03.2016, there are no outstanding contracts.
xii The management has assessed that there is no impairment of Fixed assets requiring provisions in the accounts. Accordingly, there is no debit to the Profit & Loss Account for the impairment of assets.
xiii No Provision has been made on account of gratuity as none of the employees have put in completed years of Service as required by the Payment of Gratuity Act.
xiv No provision has been made on account of leave salary as there are no leave to the credit of employees as at the end of the year.
xv Previous Year figures have been regrouped, rearranged or recanted wherever considered necessary.
xvi Informationâs required to be furnished under paragraph 13 of Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 2007 is annexed separately.
xvii No provision has been made for fall in the market value of investment as the said fall is of temporary in nature.
Mar 31, 2015
I Based on the information / documents available with the Company, no
creditor is covered under Micro, Small and Medium Enterprise
Development Act, 2006. As a result, no interest provision/payments have
been made by the Company to such creditors, if any, and no disclosures
thereof are made in these accounts.
ii Loans and advances balances are subject to confirmation by the
respective parties
iii Segment Report :
The Company is engaged in the business of Non-Banking Financial
Services and there are no separate reportable segments as per
Accounting Standard 17.
iv The Company has Complied this information based on the current
information in its possession as at 31.03.2015, No supplier has
intimated the Company about its status as a Micro or Small enterprise
or its Registration with the appropriate authority under the Micro,
Small and Medium Enterprises Development Act, 2006
Amount due to Micro Small and Medium Enterprises as on 31.03.2014 RS
NIL ( PY RS NIL )
v Deferred Taxation :
In the opinion of the management, the Company has provided the
provisions for deferred tax assets on account of carry forward losses
as well as on the timing differences for the period in which there is
virtual certainty of sufficient future income for realisation in future
years, in accordance with AS-22 " Accounting For Taxes On Income "
issued by the Institute of Chartered Accountants of India.
vi Effective from 1st April, 2014, the Company has charged
depreciation based on the useful life of the assets as per the
requirement of Schedule II of the Companies Act, 2013. It has
recomputed the depreciation on various fixed assets in accordance with
and in the manner prescribed with Part C of Schedule II of the
Companies Act, 2013. The aggregate difference between the depreciation
so computed as per the companies Act, 2013 till 31st March, 2014 and
the depreciation charged in the accounts till 31st March, 2014 has been
debited to the opening balance of profit & Loss Account.
Deferred Tax assets arising there on has been debited to or credited to
against the opening balance of Profit & Loss Account
vii The Financial Statement and Notes on Account has been prepared as
per Companies Act, 2013 with their Schedule as the same is effective
from 1st April, 2014.
viii Provision for Outstanding Standard Assets have been made @ 0.25% as
per RBI Circular No.: DNBPS.PD.CC.No. 207/03.02.002 /2010-11 dated:
17-01-2011
ix Provision for taxation on Income for the year has been made under
section 115JB of the income tax act, being Minimum alternate tax higher
than tax calculated on income under normal computation as per income
tax act. Accordingly the statement of profit and loss has been credited
minimum alternate tax credit receivable has been debited with similar
amount.
x The management has assessed that there is no impairment of Fixed
assets requiring provisions in the accounts. Accordingly, there is no
debit to the Profit & Loss Account for the impairment of assets.
xi The management has assessed that there is no impairment of Fixed
assets requiring provisions in the accounts. Accordingly, there is no
debit to the Profit & Loss Account for the impairment of assets.
xii No Provision has been made on account of gratuity as none of the
employees have put in completed years of Service as required by the
Payment of Gratuity Act.
xiii No provision has been made on account of leave salary as there are
no leave to the credit of employees as at the end of the year.
xiv Previous Year figures have been regrouped, rearranged or recasted
wherever considered necessary.
xv InformationÂs required to be furnished under paragraph 13 of
Non-Banking Financial Companies Prudential Norms (Reserve Bank)
Directions, 2007 is annexed separately.
xvi No provision has been made for fall in the market value of
investment as the said fall is of temporary in nature.
Mar 31, 2014
1 Based on the information / documents available with the Company, no
creditor is covered under Micro, Small and Medium Enterprise
Development Act, 2006. As a result, no interest provision/payments have
been made by the Company to such creditors, if any, and no disclosures
thereof are made in these accounts.
2 Loans and advances balances are subject to confirmation by the
respective parties
3 Segment Report :
The Company is engaged in the business of Non-Banking Financial
Services and there are no separate reportable segments as per
Accounting Standard 17.
4 Related Party Disclosure :
As per accounting standard 18 the information for related parties is
given below:
Name of the related parties
ASSOCIATES
SUBSIDIARIES
1. FUNIDEA REALTORS LTD
2. GYANESHWAR NIKETAN LTD
3. GOPAL PRIYA VINIMAY LTD
4. MEGAPIX CONCLAVE LTD
5. MOONLOVE VYAPAAR LTD
6. MARBUMI IMPEX LTD
7. SUVRIDHI VANIJYA LTD
8. WATERLINK SUPPLIERS LTD
KEY MANAGEMENT PERSONNEL ( KMP )
1. Ramesh Chandra Daga
5 The Company has Complied this information based on the current
information in its possession as at 31.03.2014 , No supplier has
intimated the Company about its status as a Micro or Small enterprise
or its Registration with the appropriate authority under the Micro,
Small and Medium Enterprises Development Act, 2006 Amount due to Micro
Small and Medium Enterprises as on 31.03.2014 RS NIL ( PY RS NIL )
6 Deferred Taxation :
Deferred Tax Assets on account of long term losses and short term
losses has not been considered on account of uncertainty of realisable
income under the said head which will be available for realisation.
7 No provision for taxation has been made during the year as there is
no taxable profit during the year.
8 Provision for Outstanding Standard Assets have been made @ 0.25% as
per RBI Circular No.: DNBPS.PD.CC.No. 207/03.02.002 /2010-11 dated:
17-01-2011
9 No Provision has been made on account of gratuity as none of the
employees have put in completed years of Service as required by the
Payment of Gratuity Act.
10 No provision has been made on account of leave salary as there are
no leave to the credit of employees as at the end of the year.
11 Previous Year figures have been regrouped, rearranged or re-casted
wherever considered necessary.
12 Information required to be furnished under paragraph 13 of
Non-Banking Financial Companies Prudential Norms (Reserve Bank)
Directions, 1998 is annexed separately.
13 The company has applied for and granted admission of its securities
with the Bombay Stock Exchange.