Notes to Accounts of Modex International Securities Ltd.

Mar 31, 2018

1 CORPORATE OVERVIEW

Modex International Securities Limited is a Public Limited Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The Company is a member of National Stock Exchange, Bombay Stock Exchange, MSEI, Depository Participants and its operations mainly comprises of dealing in both capital market and derivatives, as well as in secondary segments.

Note:

(i) ICICI Bank :

Amounting to Rs. 8,00,000/- secured by way of hypothecation of the Duster Diesel (Car) by way of repayment in 60 EMIs (out of which 38 EMIs were repaid upto 31 March, 2018) at interest of rate 10.50% p.a.

(ii) HDFC Bank :

Amounting to Rs. 3,00,000/- secured by way of hypothecation of the Maruti Swift (Car) by way of repayment in 36 EMIs (out of which 36 EMIs were repaid upto 31 March, 2018) at interest rate of 11.02%

(iii) HDFC Bank :

Amounting to Rs. 6,00,000/- secured by way of hypothecation of the TUV Mahindra (Car) by way of repayment in 60 EMIs (out of which 29 EMIs were repaid upto 31 March, 2018) at interest rate of 10.40% p.a

(iv) HDFC Bank :

Amounting to Rs. 7,96,420/- secured by way of hypothecation of the INNOVA (Car) by way of repayment in 36 EMIs (out of which 27 EMIs were repaid upto 31 March, 2018) at interest rate of 10.0% p.a

(vi) HDFC Bank :

Amounting to Rs. 35,00,000/- secured by way of hypothecation of the VOLVO (Car) by way of repayment in 36 EMIs (out of which 12 EMIs were repaid upto 31 March, 2018) at interest rate of 9.35% p.a

(vii) HDFC Bank :

Amounting to Rs. 20,00,000/- secured by way of hypothecation of the Fortunar (Car) by way of repayment in 36 EMIs (out of which all EMIs were repaid upto 31 March, 2018) at interest rate of 9.55% p.a

(viii) Axis Bank :

Amounting to Rs. 39,90,690/- secured by way of hypothecation of Mercedes Benz (Car) by way of repayment in 36 EMIs (out of which 23 EMIs were repaid upto 31 March, 2018) at interest rate of 9.51% p.a

(ix) Dewan Housing Finance Corporation Limited :

Amounting to Rs. 5,00,00,000/- by way of repayment in 180 EMIs at interest rate of 9.40% p.a

Accounting for taxes on income in accordance with the Accounting Standard (AS) 22 ‘Accounting for Taxes on Income’, notified in the Companies (Accounting Standards) Rules, 2006.

Deferred tax assets and liabilities have been recognized on the basis of projections after considering unabsorbed depreciation and timing differences which will be reversed against future taxes in accordance with AS-22, the details of which are as under:

2. Defined benefit plans

The Company does not recognise its liability for ’Gratuity¹ and ’Leave encashment’ on the basis as prescribed in AS-15 Employee Benefits. The company provides for the actual liability (if any) or recognises as expense when such Gratuity or Leave encashment is paid to the employee.

The Company offers the following employee benefit schemes to its employees:

(i) Gratuity

(ii) Compensated absenses

3. Segment reporting

Based on the guiding principles given in Accounting Standard on "Segment Reporting" (AS-17) as notified by Companies (Accounting Standards) Rules, 2006, the Company has identified only a single business segment which involves Brokerage on shares. Further the company operates in single geographical segment ie India. Therefore no reporting for the same is made.

4. In the opinion of directors, current assets, loans and advances are shown as realisable, in the ordinary course of business. However, the shares and securities held as stock or investments are subject to market fluctuations.

5. The Company is trading in shares and securities. Such shares and securities are held at the end of the year have been shown accordingly in Balance Sheet as stock-in-trade. As per the directors, the company is holding all such shares and securities on account of trading activities. Therefore these have been valued at cost by the directors. If the stock has been valued at lower of cost or market value, total value of stock would be Rs. 83,620,809 (Previous year Rs.50,557,436). Actual profit/loss will be taken into account at the time of actual sale of stock.

6. It is certified by the directors that all the investments and stock held by the company are in their personal custody and are registered in the name of the Company.

7. As the Company trades in shares and securities of various companies of different types, it is not practicable to give their quantitative data.

8. Confirmation of balances have not been received from debtor’s , creditors and loan’s and advances given through request was sent major parties and therefore balances as per books of accounts only.

9. Previous year’s figures have been regrouped/ reclassified wherever necessary to correspond with the current year’s classification / disclosure.

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Mar 31, 2015

1 Corporate Overview

Modex International Securities Limited is a Public Limited Company domiciled in India and incorporated under the provisions of the Companies Act. 1456. The company is a member of National Stock Exchange, Bombay Stock Exchange, United Stock Exchange of India Limited, MCX-SX, Depository Participants and its operations mainly comprises of dealing in both capital market and derivatives, as well as in secondary segments,

2. 5 (i) Axis Bank :

Amounting to 80,00,000/- secured by way of hypothecation of Range Rover (Car) by way of Repayment in 60 EMIs (out of which 30 were repay upto 31 March 2015) interest rate charge of 10.40% p.a

3. 5 (ii) ICICI Bank :

Amounting to 8,00,000,- secured by way of hypothecation of the Duster Dicssel (Car) by way of Repayment in 60 EMIs (out of which 2 EM Is were repay upto 31 March 2015) interest rate charge of 10.50% p.a,

4. 5 (iii) HDFC Bank :

Amounting to 3,00,000 - secured by way of hypothecation of the Maruti Swift (Car) by way of Repayment in 36 EM Is interest rate charge of 9.99%

5. Disclosure in respect or operating leases under Accounting Standard (AS) - 19 "Leases" prescribed by the Companies (Accounting Standards) Rules. 2006.

A. General description of the Company's operating lease arrangements:

The Company enters into operating lease arrangements for leasing area offices, site offices.

Some of the significant terms and conditions of the arrangements are:

* agreements for most of the premises may generally be terminated by the lessee or either party by serving one to three month's notice or by paying the notice period rent in lieu thereof.

* the tease arrangements are generally renewable on the expiry of lease period subject to mutual agreement.

* the Company shall not sublet, assign or part with the possession of the premises without prior written consent of the lessor.

B. Lease rent charged to the statement of profit and loss'

27,28.052 (previous year 35,27.635)

6. Disclosures of Related party transactions

A. Details of related parties:

Description of relationship Names of related parties

(a) Associates Modes Commodity trades Private Limited.

Modes Investments Private Limited,

Modes Stock and wealth Private Limited.

D.K.Arora HUF

Pas an Sachdeva HCF

(b) Key Management Personnel Mr. Dharmendra Kumar Aiwa (KMP) (Director)

Mr. Pavan Sachdeva (Director)

(c) Relatives of Key Management Ms.Neena Arora (Wife of Director) Personnel (KMP)

Ms. Sanaeeta Sachdeva (W'ifc of Director)

7. In the opinion of Directors, current assets, loans and advances are shown as realisable, in the ordinary course of business. However, the shares anti securities held as stock or investments are subject to market fluctuations

8. The Company is trading in shares and securities. Such shares and securities are held at the end of the year have been shown accordingly in Balance Sheet as slock in trade. As per the Directors, the company is holding all such shares and securities on account of trading activities. Therefore these have been valued at cost by the directors. If the stock has been valued at lower of cost or market value, total value of stock would be Rs.9,88,04,691,93 (P.Y, Rs. 15,23,10.123/-), Actual profifloss will be taken into account at the time of actual sale of stock

9. It is certified by the Directors that all the Investments and Stock held by the company are in their personal custody and are registered in the name of Company,

10. As the Company trades in shares & securities of various Companies of different types, it is not practicable to give their quantitative data.

11. Income in Foreign Currency (P.Y. Nil)

Expenditure in Foreign - Nil (P.Y. Nil) Currency

12. Confirmation of balances have not been received from debtor's . creditors and loan's and advances given through request was sent major parties and therefore balances as per boos of accounts only .

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Mar 31, 2014

1 Corporate Overview

Modex International Securities Limited is a Public Limited Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The company is a member of National Stock Exchange, Bombay Stock Exchange, United Stock Exchange of India Limited, MCX-SX, Depository Participants and its operations mainly comprises of dealing in both capital market and derivatives, as well as in secondary segments.

1.2 Disclosure in respect of operating leases under Accounting Standard (AS) ~ 19 Leases/ prescribed by the Companies (Accounting Standards) Rules, 2006. A - General description of the Company s operating lease arrangements:

- The Company enters into operating lease arrangements for leasing area offices, site offices, Some of the significant terms and conditions of the arrangements are: - agreements for most of the premises may generally be terminated by the lessee or either party by serving one to three month''s notice or by paying the notice period rent in lieu thereof.

- the lease arrangements are generally renewable on the expiry of lease period subject to mutual agreement.

- the Company shall not sublet, assign or part with the possession of the premises without prior written consent of the lessor.

B- Lease rent charged to the statement of profit and lossRs.35,27,632 (previous yearRs.2,88,690)

1.2 In the opinion of Directors, current assets, loans and advances are shown as realisable, in the ordinary course of business. However, the shares and securities held as stock or investments are subject to market fluctuations

1.3 During the year Rs 5,00,000/- has been paid for new listing in Bombay Stock Exchange(BSE) which was Included in listing fees.

1.4 The Company is trading in shares and securities. Such shares and securities are held at the end of the year have been shown accordingly in Balance Sheet as stock in trade. As per the Directors, the company is holding all such shares and securities on account of trading activities. Therefore these have been valued at cost by the directors. If the stock has been valued at lower of cost or market value, total value of stock would be Rs. 15310123/- (P.Y. Rs. 6,82,31,919). Actual profit/loss will be taken into account at the time of actual sale of stock

1.5 It is certified by the Directors that all the Investments and Stock held by the company are in their personal custody and are registered in the name of Company.

1.6 As the Company trades in shares & securities of various Companies of different types, it is not practicable to give their quantitative data.

Income in Foreign Currency - Nil (P.Y. Nil)

Expenditure in Foreign Currency - Nil (P.Y. Nil)

1.7 Previous year figures have been regrouped, restated where necessary.

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Mar 31, 2013

1 Corporate Overview

Modex International Securities Limited is a Public Limited Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The company is a member of National Stock Exchange, Bombay Stock Exchange, United Stock Exchange of India Limited, MCX-SX, Depository Participants and its operations mainly comprises of dealing in both capital market and derivatives, as well as in secondary segments.

Note 2 Additional information to the financial statements

(All amounts are in Rupees)

As at 31 March, 2013 As at 31 March, 2012 Rs. Rs.

2.1 Contingent liabilities

Contingent liabilities

Bank Guarantees Given to NSE 90,000,000 115,000,000

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Mar 31, 2011

1. Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) - Rs. Nil [Previous year Rs. Nil].

2. Contingent Liability - Bank Guarantee given to NSE Rs.800,00,000 [Previous year Rs. 400,00,000].

3. In the opinion of Directors, current assets, loans and advances are shown as realisable, in the ordinary course of business. However, the shares and securities held as stock or investments are subject to market fluctuations.

4. The Company is trading in shares and securities. Such shares and securities are held at the end of the year have been shown accordingly in Balance Sheet as stock in trade. As per the Directors, the company is holding all such shares and securities on account of trading activities. Therefore these have been valued at cost by the directors. If the stock has been valued at lower of cost or market value, total value of stock would be Rs6,46,11,239.98(P.Y. Rs.1,79,70,635.85). Actual profit/loss will be taken into account at the time of actual sale of stock.

5. It is certified by the Directors that all the Investments and Stock held by the company are in their personal custody and are registered in the name of Company.

6. As the Company trades in shares & securities of various Companies of different types, it is not practicable to give their quantitative data.