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Notes to Accounts of Maruti Securities Ltd.

Mar 31, 2014

A) Taxation:

The current charge for income tax is calculated in accordance with the relevant tax regulations applicable to the Company. Deferred tax asset and liability recognised for future tax consequences attributable to the timing differences that profit offered for income tax and the profit as per the financial statments

Deferred tax liability & Asset are measured as per the tax rates/laws that have been enacted or substantively enacted by the Balance Sheet date.

b) EPS

The Earning considered in ascertaining the Company''s earnings per share composes net profit after Tax. The number of shares used in computing basic earning per share is weighted average number of shares outstanding during the year.

c) Gratuity

No provision for gratuity has been made as no employee has put in qualifying period of service for entitlement of this benefit. 1) Particulars of Employees in accordance with Sub-section (2A) of Section 217 of the Companies Act, 1956 read with Companies (Particulars of Employees)

NIL

d. Detailed information regarding quantitative particulars under part II of Schedule VI to the Companies Act, 1956.

NIL

e. The Company is engaged in investment in Capital Market. The production and sale of such services cannot be expressed in any Generic Unit. Hence, it is not possible to give the quantitative details of sales and the information as required under Paragraphs 3 and 4c of part II of Schedule VI to the Companies Act, 1956.

f. There are no dues to SSI Units outstanding for more than 30 days.

g. Confirmations were obtained from debtors / creditors as to the Balances receivable from/payable to them as at year end.

h. a) Income Tax authorities have levied tax liability of Rs. 2,04,49,720/- for the Asst.Year 2005-06 and the Company has filed an appeal before the Commissioner of Income Tax (Appeals) and the appeal is Confirmed as per Assessing Officer views except some relief. The company has paid Rs 80.10 Lakhs and Appeal is pending before the Tribunal.

b) An order U/s 263 of Income Tax Act 1961 was passed by the Commissioner of Income Tax IV Hyderabad on 26/3/2013 for the Asst Year 2007-08 setting aside the assessment order passed by the Assessing Officer is erroneous. The Company taking steps to file an appeal before the tribunal.

c) The Company has filed appeal before the Tribunal, Hyderabad, Andhra Pradesh for the FY''S 2004-05, 2005-06, 2006-07, 2007-08, 2008-09 and 2009-10 and the same are pending for disposal.

The Provision has not been made in accounts for the above tax amounts.

i. As there is timing difference of depreciation during the year, deferred income tax Asset/Liability for the current year provided in accordance with Accounting 22(AS-22) issued by the ICAI. (Previous Year Rs.5,310/- towards deferred income tax Asset)

The company has surrendered the registration of Non- Banking finance company to RBI Hyderabad on 23/02/2011 due to negative net Worth.

The Income tax authorities had attached Bank Accounts of the Company for non Payment of tax arrears for the Asst, year 2005-06 and as on date the Appeal is pending

before Hon''ble Income Tax Appellate Tribunal, Hyderabad for its disposal.

Previous year''s figures have been regrouped wherever necessary.


Mar 31, 2013

A)Taxation:

The current charge for income tax is calculated in accordance with the relevant tax regulations applicable to the Company. Deferred tax asset and liability is recognised for future tax consequences attributable to the timing differences that result between the profit offered for income tax and the profit as per the financial statements.

Deferred tax liability & Asset are measured as per the tax rates/laws that have been enacted or substantively enacted by the Balance Sheet date. .

b)EP5

The Earning considered in ascertaining the Company''s earning per share comprises net profit after Tax. The number of shares used in computing basic earning per share is weighted average number of shares outstanding during the year.

c)Gratuity

No provision for gratuity has been made as no employee has put in qualifying period of service for entitlement of this benefit.

d) Particulars of Employees in accordance with Sub-section (2A) of Section 217 of the Companies Act, 1956 read with Companies (Particulars of Employees) Rule 1975.

NIL

e) Director''s Remuneration: Current Year (Rs.) Previous Year (Rs.) Nil Nil

f) Auditor''s Remuneration " Current Year (Rs.) Previous Year (Rs.)

11,236/- 11,236/-

g) Detailed information regarding quantitative particulars under part II of Schedule VI to the Companies Act, 1956.

NIL

h) The Company is engaged in investment in Capita! Market. The production and sale of such services cannot be expressed in any Generic Unit. Hence, it is not possible to give the quantitative details of sales and the information as required under Paragraphs 3 and 4c of part II of Schedule VI to the Companies Act, 1956.

i) There are no dues to SSI Units outstanding for more than 30 days.

j) Confirmations were obtained from debtors / creditors as to the Balances receivable from/payable to them as at year end.

k) a) Income Tax authorities have levied tax iiabiiity of Rs.2,04,49,720/- for the Asst.Year 2005-06 and the Company has filed an appeal before the Commissioner of Income Tax ( Appeals) and the appeal is Confirmed as per Assessing Officer views except some relief. The company has paid Rs 80.10 Lakhs and Appeal is pending before the Tribunal.

b) An order U/s 263 of Income Tax Act 1961 was passed by the Commissioner of income Tax IV Hyderabad on 26/3/2012 for the Asst Year 2007-08 setting aside the assessment order passed by the Assessing Officer is erroneous. The Company taking steps to file an appeai before the tribunal.

The Provision has not been made for accounts the above tax amounts.

l) As there is timing difference of depreciation during the year, deferred income tax Asset/Liability for the current year provided in accordance with Accounting Standard 22(AS-22) issued by the ICAI. (Previous year Rs.53107- towards deferred income tax Asset).

Differed income Tax Asset(opening) = Rs 5,310 Add: Current year deferred Tax Asset = Rs 2,371

Deferred income Tax Asset(closing) = Rs. 7,681

m) Securities and Exchange Board of India vide its letter dt 26/09/2012, reference:WTM/RKA/IVD/ID-4/39/2012 dated 25-09-2012 has communicatee the 4 years ban expires, completes on 04-06-2013 and permitted the company to I do trading in the Capital Market with effect from 05-06-2013.

n) The company has surrendered the. registration of Non- Banking finance company to RBI Hyderabad on 23/02/2011 due to negative net Worth

o) The Income tax authorities had attached Bank Accounts of the - Company for non Payment of tax arrears for the Asst. year 2005-06 arid as on date the Appeal is Pending before Hon''ble Income Tax Appellate

Tribunal, Hyderabad for its Disposal.

p) Previous years figures have been regrouped wherever necessary.


Mar 31, 2012

1. Particulars of Employees in accordance with Sub-section (2A) of Section 217 of the Companies Act, 1956 read with Companies (Particulars of Employees) Rule 1975.

NIL

2. Director's Remuneration: Current Year (Rs.) Previous Year (Rs.)

Nil Nil

3. Auditor's Remuneration Current Year (Rs.) Previous Year (Rs.)

11,236/- 11,0307/-

4. Detailed information regarding quantitative particulars under part II of Schedule VI to the Companies Act, 1956.

NIL

The Company is engaged in investment in Capital Market. The production and sale of such services cannot be expressed in any Generic Unit. Hence, it is not possible to give the quantitative details of sales and the information as required under Paragraphs 3 and 4c of part II of Schedule VI to the Companies Act, 1956.

5. There are no dues to SSI Units outstanding for more than 30 days.

6. Confirmations were obtained from debtors/creditors as to the Balances receivable from/payable to them as at year end.

7. a) Income Tax authorities have levied tax liability of Rs.2,04,49,720/-for the Asst.Year 2005-06 and the Company has filed an appeal before the Commissioner of Income Tax (Appeals) and the appeal is Confirmed as per Assessing Officer views except some relief. The company has paid Rs 80.10 Lakhs and Appeal is pending before the Tribunal.

b) An order U/s 263 of Income Tax Act 1961 was passed by the Commissioner of Income Tax IV Hyderabad on 26/3/2012 for the Asst Year 2007-08 setting aside the assessment order passed by the Assessing Officer is erroneous. The Company taking steps to file an appeal before the tribunal.

The Provision has not been made for accounts the above tax amounts.

8. As there is timing difference of depreciation during the year, deferred income tax Asset/Liability for the current year provided in accordance with Accounting Standard 22(AS-22) issued by the ICAI. (Previous year Rs.932/- towards deferred income tax Asset).

Differed Tax Asset =Rs. 932/-

Add. Current year deferred Tax Asset =Rs. 4,378/-

Deferred Tax Asset =Rs. 5,310/-

9 Securities and Exchange Board of India vide its order dt 4/6/2009 passed an interim order under sections 11,11 (4) and 11 B of the Securities and Exchange Board of India Act , 1992 restricting the Company not to buy, sell or deal insecurities market directly or indirectly till further directions until the investigation is completed.

10. The company has surrendered the registration of Non- Banking finance company to RBI Hyderabad on 23/02/2011 due to negative net Worth

11.The Income tax authorities had attached Bank Accounts of the Company for non Payment of tax arrears for the Asst. year 2005-06 and as on date the Appeal is Pending before Hon'ble Income Tax Appellate Tribunal, Hyderabad for its Disposal.

12. Previous years figures have been regrouped wherever necessary.


Mar 31, 2010

1. Particulars of Employees in accordance with Sub-section (2A) of Section 217 of the Companies Act, 1956 read with Companies (Particulars of Employees) Rule 1975.

2. Detailed information regarding quantitative particulars under part II of Schedule Vi to the Companies Act, 1956. Nil

The Company is engaged in investment in Capital Market. The production and sale of such services cannot be expressed in any Generic Unit. Hence, it is not possible to give the quantitative details of sales and the information as required under Paragraphs 3 and 4c of part II of Schedule VI to the Companies Act, 1956.

3. There are no dues to SSI Units outstanding for more than 30 days

4. Confirmations were obtained from debtors/creditors as to the Balances receivable from/payable to them as at year end.

5. Income Tax authorities have levied tax liability of Rs.2, 04,49,720/- for the Asst, Yr 2005-06 and the Company has filed an appeal before the Commissioner of Income Tax( Appeals) and the appeal is Confirmed as per Assessing Officer Views except some relief. The company has paid Rs 80.10 Lakhs and the Appeal is pending before the Honarable Income Tax Appellaten Tribunal..

6.Loss in Capital Market Operations: The company has incurred the toss due to fall the prices of stocks in the Capital market. Accordingly loss is recognised during the current year.

7. Securities and Exchange Board of India vide its Order dated 04-06-2009 passed an interim order under Sections 11,11(4) and 11B of the Securities and Exchange Board of India Act 1992 restricting the Company not to buy, sell or deal in securities market directly or indirectly till further directions until the investigation is completed.

8. Reserve Bank of India vide its letter dated 19-01-2010 has imposed restriction to cany out the business of non banking financial institutions due to negative networth till such time, the company meets minimum statutory requirement of Rs.25.00 lakhs.

9. The Income Tax authorities had attached bank accounts of the company for non payment of tax arrears for AY 2005-06 and as on date the appeal is pending before Honble Income Tax Appellate Tribunal, Hyderabad for its disposal.

10. Previous years figures have been regrouped wherever necessary.

11. The figures have been rounded off to the nearest rupee.

 
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