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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