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Notes to Accounts of Moongipa Capital Finance Ltd.

Mar 31, 2014

1. Corporate information

The company is carrying on the business of financing activities. The principal place of business of the company is the same as registered office of the company.

2. Contingent Liabilities

(a) As on 31st March 2014, contingent liabilities not provided for in the books of accounts is Rs. NIL (Previous Rs. NIL)

3. Claims against the Company not acknowledged as Debts - Rs. Nil (Previous Year Rs. Nil).

4. Pending Capital Commitments remaining to be executed - Rs. Nil (Previous Year Rs. Nil).

5. Company has filed suits for recovery of Rs. 1,465,800 from various trade debtors in district of Delhi which are pending for Disposal as on 31* March 2014. However, keeping in mind the recovery of balance Management of the Company has classified the said receivables as doubtful and provision has been made accordingly.

6. Managerial Remuneration Rs. 2,04,000 (Previous Year Rs. 1,68,000)

7. Based on the Information received from all the vendor regarding their statues under Micro, Small & Medium Enterprises Developments Act, 2006 and hence disclosure relating to amount unpaid as at year end together with interest paid / payable under this Act on the basis of the information available with the company is Rs. Nil.

8. The company has not proposed any dividend to be distributed to Equity Shareholders for the period 1st April, 2013 to 31* March, 2014. (Previous year Rs. Nil).

9. Value of Imports Calculated on CIF Basis Rs. Nil (Previous Year Rs. Nil)

10. Related Party Transactions

1. Following are the related parties a. Key Management Personnel (KMP) * Mr. Sanjay Jain (Director) * Mr. Shyam Kumar Sharma (Whole Time Director) b. Enterprises Significantly Influenced by KMP & their Relatives * Moongipa Securities Limited

The Increase/Oimlnution in value of Non Current investment is due to the change in Market Prices of Shares as at 31st March 2014. Since the lncrease/(Diminution) is temporary in nature, The management of the Company has decided to value to the investment at Cost rather valuing the investment on Market Price,

11. As per the Notification No. S.O. 447 (E) dated 28.02.2011 read with amendment Notification S.0.653 (E) dated 30.03.2011 issued by ministry of corporate affairs, financial Statements of the company for the financial year ended on 31* March, 2014 & Previous year ended on 31* March, 2013 have been prepared/ redrafted according to provisions set out in the Revised Schedule VI of Companies Act, 1956.


Mar 31, 2013

Corporate Information

The company is carrying on the business of Financing Activities. The principal place of business of the company is the same as registered office of the company.

1. As on 31st March, 2013 Contingent Liabilities not provided for in books of accounts is Rs. Nil (Previous Year Rs. Nil)

2. Claims against the Company not acknowledged as Debts - Rs. Nil (Previous Year Rs. Nil).

3. Pending Capital Commitments remaining to be executed - Rs. Nil (Previous Year Rs. Nil).

4. Company has filed suits for recovery of Rs. 9,69,490/- from various trade debtors in district of Delhi which are pending for disposal as on 31st March, 2013. However, keeping in mind the recovery of balances Management of the company has classified the said receivables as doubtful and provision has been made accordingly.

5. Managerial Remuneration Rs. 168,000 (Previous Year Rs. 1,44,000)

6. Based on the Information received from all the vendor regarding their statues under Micro, Small & Medium Enterprises Developments Act, 2006 and hence disclosure relating to amount unpaid as at year end together with interest paid / payable under this Act on the basis of the information available with the company is Rs. Nil.

7. The company has not proposed any dividend to be distributed to Equity Shareholders for the period 1st April, 2012 to 31st March, 2013. (Previous year Rs. Nil).

8. Value of Imports Calculated on CIF Basis Rs. Nil (Previous Year Rs. Nil)

The Increase/Diminution in value of Non Current investments is due to the Change In market Prices of Shares as at 31* March, 2013. Since the Increase/ (Diminution) Is temporary in nature, The Management of the Company has decided to value to the investments at Cost rather valuing the investments on Market Price.

9. As per the Notification No. S.O. 447 (E) dated 28.02.2011 read with amend- ment Notification S.0.653 (E) dated 30.03.2011 issued by ministry of corpo- rate affairs, financial Statements of the company for the financial year ended on 31st March, 2013 & Previous year ended on 31st March, 2012 have been prepared/redrafted according to provisions set out in the Revised Schedule VI of Companies Act, 1956.

10. Notes no. 1 to 15 form an integral part of the Financial Statements for the year ended on 31st March, 2013.


Mar 31, 2012

1. Contingent liability not provided for- Rs. Nil (Previous Year - Rs. Nil)

2. Claim against the company not acknowledged as debts- Nil (Previous Year - Rs. Nil)

3. Estimated amount of contract remaining to be executed on capital accounts- NH (Previous Year - Rs. Nit)

4. Balances grouped under loans & advances and current liabilities are subject to confirmation.

5. The company does not owe any amount to micro small and medium enterprises.

6. The shares of Moongipa Securities Ltd and SMC Global Securities Ltd. being held by the company has not been traded during the year, as such the market value of such investment as on 31-03-2012 is not available.

7. The Company is involved in the business of financing activity only as such there is only one reportable segment. Further the Company is operating in India only. Therefore the reporting requirements as prescribed under AS-17 are not applicable to the company.

8. The amounts have been rounded off to the nearest rupee.

9. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped I reclassified wherever necessary to correspond with the current year's classification / disclosure.


Mar 31, 2010

1. Contingent liabitity not provided for-Rs. Nil (Previous Year -Rs.Nil)

2. Claim against the company not acknowledged (Previous Year -Rs.Nil) as debts-Nil

3. Estimated amount of contract remaining to be (Previous Year- Rs.Nil) executed on capital accounts- Nil

5. Earning and Expenditure in foreign currency Nil - Nil

6. Balances grouped under loans & advances and current liabilities are subject to confirmation.

7. The company does not owe any amount to a Small Scale Industrial Undertaking or small and medium enterprises.

8. The shares of Moongipa Securities Ltd and SMC Global Securities Ltd. being held by the company has not been traded during the year, as such the market value of such Investment as on 31-03-2010 Is not available.

9. The Company Is Involved in the business of financing activity only as such there is only one reportable segment Further the Company Is operating In India only. Therefore the reporting requirements as prescribed under AS-1T issued by the ICAI are not applicable to the company.

10. Related Party Disclosure

Name Nature of Relationship

Moonglpa Securities Ltd Enterprise over which key manage- ment personnel la able to exercise significant influence.

Transaction during the year NIL (Previous year Ra. NIL)

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

12. Previous year figures have been regrouped and rearranged wherever considered necessary to make them comparable with the current figures.


Mar 31, 2003

1. NON PERFORMING ASSETS

Income recognition, assets classification and provisioning in respect of non performing assets has been done in accord- ance of RBI directives.

2. Additional information pursuant to Part II of Schedule VI to the Companies Act, 1956, to the extent applicable are as under (i) Foreign Exchange earnings during the year NIL

(ii) Expenditure in foreign currency NIL

3. Provision for gratuity is not required to be made in the accounts as no employee has yet put in the qualifying period of service.

4. Balances grouped under current assets, sundry debtors, loans & advances are subject to confirmation.

5. Previous year figures have been regrouped and rearranged wherever considered necessary to make them comparable with the current figures.

6. Provision for Taxation

The provision for taxation has not been made as there is no taxable income in view of loss.

Deferred Income Tax is provided, using the liability method, on all timing differences at the balance sheet date between the tax base of assets and liabilities and their carrying amounts for financial reporting purposes.

Deferred Tax assets are recognised on, to the extent that there is reasonable certainty of their realisation. Deferred Tax assets and liabilities are measured using the tax rates and the tax laws that have been enacted or subsequently enacted at the balance sheet date.

7. SEGMENT REPORTING

The main business of Company is leasing and hire purchase finance and the other activities revolves around the main business. There is no other segment within the company.


Mar 31, 2002

1. NON PERFORMING ASSETS

Income recognition, assets classification and povisioning in respect of non performing assets has been done in accordance of RBI directives.

2. CONTINGENT LIABILITIES

2001-2002 2000-2001

Bank Guarantee 55,00,000 55,00,000

3. Additional information pursuant to Part II of Schedule VI to the Companies Act, 1956, to the extent applicable are as under

(i) Foreign Exchange earnings during the year - NIL

(ii) Expenditure in foreign currency - NIL

4. Provision for gratuity is not required to be made in the accounts as no employee has yet put in the qualifying period of service.

5. Balances grouped under current assets,sundry debtors Joans & advances are subject to confirmation.

6. Previous year figures have been regrouped and rearranged wherever considered necessary to make them comparable with the current figures.

7. Provision for Taxation

- The provision for taxation has not been made as there is no taxable income in view of loss.

- Deferred Income Tax is provided ,using the liability method,on all timing differences at the balance sheet date between the tax base of assets and liabilities and their carrying amounts for financial reporting purposes.

- Deferred Tax assets are recognised on , to the extent that there is reasonable certainty of their realisation.

- Deferred Tax assets and liabilities are measured using the tax rates and the tax laws that have been enacted or subsequently enacted at the balance sheet date.

8. SEGMENT REPORTING

The main business of Company is leasing and hire purchase finance and the other activities revolves around the main business. There is no other segment within the company.

 
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