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Notes to Accounts of Munoth Capital Market Ltd.

Mar 31, 2016

1. BASIS OF ACCOUNTING:

The Financial Statements have been prepared under the historical cost convention, on accrual basis to comply in all material respects with all applicable accounting principles in India, the applicable Accounting Standards notified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.and the relevant provisions of the Companies Act, 2013.

All assets and liabilities have been classified as current or non-current as per the Company’s normal operating cycle and other criteria set out in the Revised Schedule III to the Companies Act, 2013. Based on the nature of products and the time between the acquisition of assets for processing and their realization in cash and cash equivalents, the Company has ascertained its operating cycle as 12 months for the purpose of current -noncurrent classification of assets and liabilities

2. USE OF ESTIMATES:

The preparation of the financial statements are in conformity with the generally accepted accounting principles that requires the management to make estimates and assumptions that affect the reported amount of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities. The estimates and assumptions used in the accompanying financial statements are based upon management’s evaluation of the relevant facts and circumstances as of the date of the financial statements. Actual results may differ from the estimates and assumptions used in preparing the accompanying financial statements. Any differences of actual results to such estimates are recognized in the period in which the results are known / materialized.

3. FIXED ASSETS :

The fixed assets are stated at acquisition cost less accumulated depreciation.

4. DEPRECIATION :

- Depreciation on tangible Assets is provided on the written down value method over the useful life of assets in accordance with Schedule II of the Companies Act, 2013.

- Depreciation for assets purchased /sold during a period is proportionately charged.

- Assets are amortized over their respective individual estimated useful lives on a written down basis, commencing from the date the asset is available to the Company for its use.

The estimated useful lives for the fixed assets as per Schedule II of the Act are as follows:

- Servers and software : 6 years

- Computer : 3 years System & Peripherals

- Furniture & Fixtures : 10 years

- Air Conditioner : 15 years

- Motor Cycle : 10 years

The residual value of assets after its useful life is estimated at 5% of the cost of the assets in accordance with Schedule II of the Act

5. INVESTMENTS :

6. Investments, which are readily realizable and intended to the held for not more than one year from the date on which such investments are made, are classified as current investments. All other investments are classified as long term investments.

7. Investments are classified as Quoted & Unquoted Investments.

8. Long term Investments are stated at cost less provision for permanent diminution in value of such investments.

9. Current Investments are stated at lower of cost and fair market value, determined by category of Investments.

10. RETIREMENT BENEFIT:

The leave encashment scheme of the company is not in the nature of retirement benefit and hence no provision is necessary for the same.

11. REVENUE RECOGNITION:

12. Brokerage income is recognized as per contracted rates at the execution of transactions on behalf of the customers on the trade date and is inclusive of service tax.

13. Transaction of dealing in shares & securities are booked in the accounts based on contract notes issued by the brokers and the account statements received. Transactions of derivatives are recognized under respective heads of accounts as and when the settlement takes place in accordance with the terms of respective contracts.

14. Income from arbitrage in securities comprises profit/loss on sale of securities held as stock-in-trade.

15. All incomes and expenditure are accounted for on accrual basis unless otherwise stated.

16. Interest income is recognized on accrual basis, while dividend on shares and securities is recognized when the right to receive the dividend is established.

17. BORROWING COST:

Interest and other costs incurred in connection with borrowing of the funds are charged to revenue on accrual basis except those borrowing cost which are directly attributable to the acquisition or construction of those fixed assets, which necessarily take a substantial period of time to get ready for their intended use. Such costs are capitalized with the fixed assets.

18. EARNINGS PER SHARE (EPS):

The earnings considered in ascertaining the Company’s EPS comprises the net profit after tax (after providing the post tax effect of any extra ordinary items). The number of shares used in computing Basic EPS is the weighted average number of equity shares outstanding during the year.

19. INCOME TAX:

20. Current Tax: A Provision for Current Income Tax / Minimum Alternate Tax is made on the Taxable Income using the applicable tax rates and tax laws respectively.

21. Deferred Tax: Deferred tax arising on account of timing differences and which are capable of reversal in one or more subsequent periods is recognized using the tax rates and tax laws that have been enacted or substantively enacted. Deferred tax assets are not recognized unless there is a virtual certainty with respect to the reversal of the same in future.

22. IMPAIRMENT OF ASSETS:

Assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is higher of the asset’s fair value less costs to sell vis-a-vis value in use. For the purpose of impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows.

23. PROVISIONS AND CONTINGENCIES:

The company creates a provision when there is present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that probably will not require an outflow of resources or where a reliable estimate of the obligation cannot be made.

24. CONSOLIDATED FINANCIAL RESULTS

Consolidated Financial Statements forming part of accounts with the auditor’s report thereon are attached herewith.

25. SEGMENT REPORTING:

Segment Reporting as defined in Accounting Standard 17 is not applicable as the company is primarily engaged in Broking services in capital market.

26. Disclosure requirements as per Accounting Standard 18 (AS-18) “Related Party

Disclosure” issued by the Institute of Chartered Accountants of India

27. List of Related Parties with whom transaction have taken place during the year:

28. Wholly owned Subsidiary Company Munoth Retail Private Ltd.

29. Associate companies where director or relatives of director are interested

30. Munoth Investment & Finance & Co. Pvt. Ltd.

31. Munoth Finance & Leasing Ltd

32. Key management Personnel

33. Shantilal M Jain

34. Siddharth S Jain

35. Mukesh Patel

36. Affiliate of Subsidiary Company

37. Deepkala Collection

38. In the absence of confirmation from parties and pending reconciliation the debit and credit balances with regard to recoverable and payable have been taken as reflected in the books. In the opinion of the Directors, short term or long term Loans and Advances, Current or Noncurrent Assets, if realized in the ordinary course of business, have the value at which they are stated in the Balance Sheet.

39. Previous year figures have been regrouped / rearranged wherever necessary.


Mar 31, 2015

1. Rights, preferences and restrictions attached to shares

Equity Shares: The company has one class of equity shares having a par value of Rs.5 per share. Each shareholder Is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

2. Deferred tax arising on account of timing differences and which are capable of reversal in one or more subsequent periods is recognised

3. The disclosure under Section 22 of Micro, Small and Medium Enterprises Development Act, 2006 is not applicable to the company as it is neither a trading nor a manufacturing company and accordingly do not have any such suppliers

4. CONSOLIDATED FINANCIAL RESULTS

Consolidated Financial Statements forming part of accounts with the auditors report thereon are attached herewith.

5. CONTINGENT LIABILITIES NOT PROVIDED FOR (Rs.in Lacs)

31.03.2015 31.03.2014

a) Estimated amount of contracts remaining to be executed on capital account NIL NIL

b) Claims against company not acknowledge as debts NIL NIL

6. Foreign Exchange earnings and out-go is Rs. NIL NIL

7. SEGMENT REPORTING:

Segment Reporting as defined in Accounting Standard 17 is not applicable as the company is primarily engaged in Broking services in capital market.

8. Disclosure requirements as per Accounting Standard 18 (AS-18) "Related Party

Disclosure" issued by the Institute of Chartered Accountants of India

I. List of Related Parties with whom transaction have taken place during the year:

a) Wholly owned Subsidiary Company

Munoth Retail Private Ltd.

b) Associate companies where director or relatives of director are interested

(i) Munoth Investment & Finance & Co. Pvt. Ltd.

(ii) Munoth Finance & Leasing Ltd

c) Key management Personnel

(i) Shantilal M Jain

(ii) Siddharth S Jain

(iii) Mukesh Patel

d) Affiliate of Subsidiary Company

(i) Deepkala Collection

9. In the absence of confirmation from parties and pending reconciliation the debit and credit balances with regard to recoverable and payable have been taken as reflected in the books. In the opinion of the Directors, short term or long term Loans and Advances, Current or Non current Assets, if realized in the ordinary course of business, have the value at which they are stated in the Balance Sheet.

10. Previous year figures have been regrouped / rearranged wherever necessary.


Mar 31, 2014

1 CONSOLIDATED FINANCIAL RESULTS

Consolidated Financial Statements forming part of accounts with the auditor’s report thereon are attached herewith.

2 CONTINGENT LIABILITIES NOT PROVIDED FOR :- (Rs.in Lacs)

31.03.2014 31.03.2013

a) Estimated amount of contracts remaining to be executed on capital account NIL NIL

b) Claims against company not acknowledge as debts NIL NIL

3 Foreign Exchange earnings and out-go is Rs NIL NIL

4 SEGMENT REPORTING:

Segment Reporting as defined in Accounting Standard 17 is not applicable as the company is primarily engaged in Broking services in capital market.

5 Disclosure requirements as per Accounting Standard 18 (AS-18) "Related Party Disclosure" issued by the Institute of Chartered Accountants of India

I. List of Related Parties with whom transaction have taken place during the year:

a) Wholly owned Subsidiary Company Munoth Retail Private Ltd.

b) Associate companies where director or relatives of director are interested

(i) Munoth Investment & Finance & Co. Pvt. Ltd

(ii) Munoth Finance & Leasing Ltd

c) Key management Personnel

(i) Shantilal M Jain

(ii) Siddharth S Jain

(iii) Mukesh Patel

d) Affiliate of Subsidiary Company Deepkala Collection

6 In the absence of confirmation from parties and pending reconciliation the debit and credit balances with regard to recoverable and payable have been taken as reflected in the books. In the opinion of the Directors, shod term or long term Loans and Advances. Current or Non current Assets, if realized in the ordinary course of business, have the value at which they are ''stated in the Balance Sheet.

7 Previous year figures have been regrouped / rearranged wherever necessary.


Mar 31, 2013

1 CONTINGENT LIABILITIES NOT PROVIDED FOR

(Rs.in Lacs)

31.03.2013 31.03.2012 a) Estimated amount of contracts remaining to be executed on capital account NIL NIL

b) Claims against company not acknowledge as debts NIL NIL

2 Foreign Exchange earnings and out-go is Rs. NIL NIL

3 SEGMENT REPORTING:

Segment Reporting as defined in Accounting Standard 17 is not applicable as the company is primarily engaged in Broking services in capital market.

4 Disclosure requirements as per Accounting Standard 18 (AS-18) "Related Party Disclosure" issued by the Institute of Chartered Accountants of India

I. List of Related Parties with whom transaction has been taken place during the year:

a) Key management Personnel (i) Shantilal M Jain

(ii) Siddharth S Jain

(iii) Mukesh Patel

b) Associate companies where director or relatives of director are director

(i) Munoth Investment & Finance & Co.Pvt. Ltd. (ii) Munoth Finance & Leasing Ltd (iii) Munoth Retail Private Ltd.

5 In the absence of confirmation from parties and pending reconciliation the debit and credit balances with regard to recoverable and payable have been taken as reflected in the books. In the opinion of the Directors, short term or long term Loans and Advances, Current or Non current Assets, if realized in the ordinary course of business, have the value at which they are stated in the Balance Sheet.

6 Previous year figures have been regrouped / rearranged wherever necessary.


Mar 31, 2010

1. CONTINGENT LIABILITIES NOT PROVIDED FOR (Rs.in Lacs) 31.03.2010 31.03.2009

3) Estimated amount of contracts remaining to be executed on capital account Nil Nil

b) Claims against company not acknowledge as debts Nil Nil

2. Foreign Exchange earnings and out-go Is Rs Nil (P.Y Nil)

3. SEGMENT REPORTING:

Segment Reporting as defined In Accounting Standard 17 is not applicable as the company Is primarily engaged in Broking services in capital market

4. Disclosure requirements as per Accounting Standard 18 (AS-18) "Related Party Disclosure" issued by the Institute of Chartered Accountants of India

I. List of Related Parties:

a) Key management Personnel

(i) Shantilal M Jain

(ii) Siddharth S Jain

b) Associate Companies

(i) Anima Investment Ltd.

(ii) Munoth Finance & Leasing Ltd

(iii) Munoth Investment & Finance Co. Pvt. Ltd

(iv) Devang Estate & Finance Co Pvt Ltd

(V) Symphony Investment Pvt Ltd

(vi) Silvercrad Investment Pvt Ltd

5. In the absence of confirmation from parties and pending reconciliation the debit and credit balances with regard to recoverable and payable have been taken as reflected in the books In the opinion of the Directors, Loans and Advances and Current Assets, if realized in the ordinary course of business have the value at which they are stated in the Balance Sheet

6. The current tax liability is adjustable against earned forward MAT credit for earlier years u/s 115JB of the Income Tax Act, 1961, hence no provision for current tax liability is made in the bocks of accounts

7. Previous year figures have been regrouped / rearranged wherever necessary,

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