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Notes to Accounts of Minolta Finance Ltd.

Mar 31, 2014

Note : 1 CORPORATE INFORMATION

Minolta Finance Limited (the Company) is a Limited Company incorporated in India under the provisions of the Companies Act, 1956. The Company is engaged in Non Banking Finance business.

Notes : 2 Provisioning/Write offs

The Company has complied with the Prudential Norms As per NBFC ''s (Reserve Bank) Direction''s 1998 with regard to Income Recognition, Asset Classification, Accounting Standard, and provision for Bad & Doubtful Debts as applicale to it.

Notes : 3 Segment Reporting

Since the Company is operating in a single line of business of NBFC, no Segment Reporting is reported as defined by Accounting Standard (AS - 17) - "Segment Reporting".

4. Rights, Preferences and Restrictions attached to each class of shares

The Company has only 1 Class of Equity Shares having a 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 holders of Equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in the proportion to the No. of shares held by the shareholder.


Mar 31, 2013

Note : 1 CORPORATE INFORMATION

Minolta Finance Limited (the Company) is a Limited Company incorporated in India under the provisions of the Companies Act, 1956. The Company is engaged in Non Banking Finance business.


Mar 31, 2012

1) Compliance of Accounting Standards issued by the Institute of Chartered Accountants of India.

(A) Segment Reporting:

Segmental Reporting as per AS-17 is not applicable.

(B) Related Party Disclosures:

In terms of Accounting Standard 17 of the ICAI related party transactions as well as payment to director is as under:

2) Contingent Liabilities

There is no contingent liability during the year.

3) Presentation and disclosure of financial statements

During the year ended 31st March 2012 the Revised Schedule VI notified under the Companies Act, 1956 has become applicable to the Company, for preparation and presentation of its financial statement. The adoption of Revised Schedule VI does not impact recognition and measurement of principle followed for preparation of financial statement. However it has significant impact on presentation and disclosures made in the financial statement. The company has also reclassified the previous year figures in accordance with the requirement applicable in current year.


Mar 31, 2009

A The Company has complied with prudential norms as per NBFCs (reserve Bank) Directions 1998 with regard to income regognition, asset classification, accounting standards and provision for bad and doubtful debts as applicable to it.

b Adjustment in respect of fall in market price of certain quoted investments has not been done since these are long term investments and the inherent value of such investments does not indicate permanent diminution.

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