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Notes to Accounts of Marvel Capital & Finance (India) Ltd.

Mar 31, 2015

Notes:

1) The above Cash Flow Statement has been prepared under the "Indirect Method" as set out in the Accounting Standard 3 on Cash Flow Statement issued by ICAI

A) Terms / Rights attached to equity shares.

The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees.

In the event of liquidation of company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distributions will be proportion to the number of equity shares held by shareholder.


Mar 31, 2014

Not Available.


Mar 31, 2012

1. Estimated amount of contracts remaining to be executed on capital account and not provided for Rs.NIL (2011: Rs.NIL).

2. Contingent Liabilities not provided Rs. Nil (2011: Rs.Nil)

3. Preference Shares are redeemed at par by the company. Preference shareholders and the company have arrived to an understanding, wherein shareholders have agreed to waive the unpaid dividend and overdue interest wherever applicable.

4. Some of the balances in Sundry Debtors, Sundry Creditors, and Advances are subject to confirmation, reconciliation''s and adjustments if any, which In the opinion of the management will not be significant and would be carried out when settled.

5. Related Party Disclosures:

A) Names of Related Parties

Key (Management Personnel

Mr. Laxmi Kumar Saboo (Chairman)

Smt. Shalini Saboo (Managing Director)

Relative of Directors

Mrs. Laxmi Saboo

Mr. Vikram Saboo

6. The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence the disclosure, if any, relating to amounts unpaid as at the year-end together with interest paid/payable as required under the said Act have not been given.

7. Of the unsecured loan, amount of Rs. Nil (2011: Rs. 20,00,000/-) is payable within one year.

8. Previous Year Comparatives:

Previous Year figures have been regrouped, recast and reclassified where ever necessary.

a) Terms/rights attached to equity shares.

The company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees.

In the event of liquidation of company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distributions will be in proportion to the number of equity shares held by shareholder.

b) Terms of redemption of preference shares.

600,000% cumulative redeemable preference shares of Rs. 10/- each fully paid up shall be redeemed at the expiry of 24 months from the date of allotment i.e November 21,2012


Mar 31, 2010

1. Nature of Operations

Marvel Capital and Finance (India) Limited is engaged in Trading of Shares.

(a) Related Parties

1. List of related parties

Associate Companies Marvel Industries Limited

Key Management Personnel Mr. Laxmi Kumar Saboo (Chairman)

Smt. Shalini Shaboo (Managing Director)

Relatives of Directors Mrs. Laxmi Saboo

Mr. Vikram Shaboo

(b ) Contingent Liabilities :

i) Dividend in arrears on cumulative preference Shares Rs. 66,00,000/- (2009: Rs. 60,00,000/-) ii) Estimated amount of contracts remaining to be executed on capital account and not provided for (Net of advances) Rs. Nil (2009: Nil)

(c ) Segment Reporting

The company is engaged only in trading in securities business and there are no separate reportable segments as per Accounting Standard 17. The operations of the company are only within India and accordingly no disclosure is made in respect of the secondary segment.

As there is no reasonable and virtual certainity supported by convincing evidence that sufficient future taxable income will be avaiaible against which such deferred tax asset can be realised, deferred tax asset on carry forward losses and disallowances under the Income Tax Act have not been recognised.

(e) a. The preference Shares of Rs. 60 Lacs became due for redemption on 30.06.2003 but in absence of inadequate profits the same has not been redeemed till date. And are classified under share capital.

b. No provisions has been made for interest on overdue preference shares since same has not been ascertained.

(g) Some of the bank balances are subject to confirmation.

(h) Additional information pursuant to the provisions of paragraphs 3, 4C and 4D of Part II of Schedule VI to the Companies Act, 1956 to the extent nil or not applicable to the Company during the year are not furnished.

(i) Previous Year Comparatives

Previous years figures have been regrouped wherever necessary to confirm to this years classification.


Mar 31, 2009

(a) Related Parties

1. List of related parties

Associate Companies Marvel Industries Limited

Key Management Personnel Mr. Laxmi KumarSaboo (Chairman)

Smt. Shalini Saboo (Managing Director)

Mr. Sanjeev Mehrotra (Director)

Mr. Praveen Jhangiani (Director)

Relatives of Directors Mrs. Laxmi Saboo

Mr. Vikram Saboo

(b) Contingent Liabilities :

a) Guarantees given against amount borrowed by other companies by way of pledge of shares.

b) Dividend in arrears on comufative preference Shares Rs. 60,00,000/- (P.Y. Rs. 54,00,000/-)

(c) During this year, Company has purchased 1000 units & Sold 1000 units of Network 18 Fin.

(d) Segment Reporting

The entire operations are governed by the same risk and rewards and hence, it operates in a single segment, consequently on information under the requirment of the Accounting Standard 17 on Segment Reporting is not applicable.

(f) a. The preference Shares of Rs. 60 Lacs became due for redemption on 30.06.2003 but in absence of inadequate profits the same has not been redeemed till date. And are classified under share capital.

b. No provisions has been made for interest on overdue preference shares since same has not been ascertained.

(g) Some of the bank balance are subject to confirmation.

(h) The provision for gratuity & Leave encashment has been made on estimated basis. This policy is not in accordance with the Accounting Standards 15 (Revised) of the Institute of Chartered Accountants of India The effect is not ascertainable.

(I) Additional information pursuant to the provisions of paragraphs 3,4C and 4D of Part 11 of Schedule VI to the Companies Act, 1956 to the extent nil or not applicable to the Company during the year are not furnished Previous Year Comparatives

Previous years figures have been regrouped wherever necessary to confirm to this years classification. As per our report of even date

 
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