Mar 31, 2018
a. Terms/rights attached to equity shares
The Company has only one class of Equity Share having value of Rs. 10 Each with an entitlement of one vote per share.
The company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors are subject to the approval of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the Company, the holder of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders.
Terms and Conditions for Secured Loan taken from Financial Institiutions Indiabulls Housing Finance Ltd
- The term loan is secured by way of mortgage of property situated at worli which belongs to Naksh Corporate Solutions Pvt Ltd and Brown Trading Pvt Ltd through tri- parties agreement.
- Rate of interest 12.25% p.a.
a) Contingent Liabilities (to the extent not provided for)
b) The Company>s pending litigations comprise of claims against the Company and proceedings pending with tax and other authorities. The Company has reviewed all its pending litigations and proceedings and disclosed the contingent liabilities, wherever applicable in its financial statements. The Company does not reasonably expect the outcome of these proceedings to have a material impact on its financial statements.
1 In the opinion of the Management, Long Term Loans & Advances, Short Term Loans & Advances & Short Term Borrowing would be realizable/payable at least of an amount equal to the amount at which they are stated in the Balance sheet. Further provisions have been made for all known & accrued liabilities.
2 Exposure to real estate sector is Rs.7555.24 Lakhs Includes Kanaka & Associates, Kapila Infrasturcture Limited, Sunteck Realty Ltd, & Eskay Infrastructure & Development Private Limited.
3 The Company has maintained 43.55% as Capital Adequecy Ratio as on 31.03.2018
4 Pursuant to âNon-Systemically Important Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2015â, a Systemically Important NBFC is required to disclose the Maturity Pattern in the Balance Sheet. Pursuant to the said provisions the borrowings by the Company from other body Corporates are payable as and when the demand been made by the Body Corporates and the Loans and advances granted during the year are perpetual and are renewed on the timely basis. Hence it is difficult to arrive at the Maturity Pattern by the Company as per the NBFC Directions.
Since the Company operates in single segment (i.e. investments and financing activities), no further disclosure
5 is required to be given as per the notified AS-17 âSegmental Reportingâ.
6 Micro, Small and Medium Enterprises
The management has initiated the process of identifying enterprises which have provided goods and services to the company and which qualify under the definition of Micro Small and Medium enterprises, as defined under Micro Small and Medium Enterprises Development Act, 2006. Accordingly, the disclosure in respect of the amount payable to such enterprises as at March 31, 2018 is made in the financial statements based on information received and available with the company.
7 Previous yearâs figures have been regrouped, rearranged, reclassified to the extent possible.
Mar 31, 2016
1. Terms/rights attached to equity shares
"The Company has only one class of Equity Share having value of Rs. 10 Each with an entitlement of one vote per share. The company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors are subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the Company, the holder of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. However, no such preferential amounts exist currently. The distribution will be in proportion to the number of equity shares held by the shareholders. "
- The term loan is secured by way of mortgage of property situated at world which belongs to Naksh Corporate Solutions Pvt Ltd and Brown Trading Pvt Ltd through tri- partite agreement.
- Rate of interest 12.25% p.a.
2. The term loan of Rs 44,65,00,000/- is secured by way of pledge of tax free bonds and other securities.
3. The interest rate on term loans of Rs. 44,65,00,000/- (Previous Year Rs. 44,65,00,000/-) @ 9% p.a. - 12%p.a. (9% p.a. - 12%p.a.)
4. Repayment schedule of secured term loan (refer note below).
5. Related Party Disclosures Name of the Related Parties :
Related parties where control exists, irrespective of whether transaction has occurred or not:
Subsidiary Companies:
6. Can Exports Pvt Ltd Chitta Finlease Pvt Ltd
7. In the opinion of the Management, Long Term Loans & Advances, Short Term Loans & Advances & Short Term Borrowing would be realizable/payable at least of an amount equal to the amount at which they are stated in the Balance sheet. Further provisions have been made for all known & accrued liabilities.
8. The Following additional information is disclosed in terms of RBI Circulars: (From Note No 4 to 7 below)
9. Exposure to real estate sector is 1,85,57,44,277/- Includes Kanaka & Associates, Piramal Sunteck Realty Pvt Ltd, Sunteck Realty Ltd, Starlight Systems (I) LLP, Sahrish Constructions Pvt Ltd, Prime Home Constructions and Developers Pvt Ltd, Satguru Corporate Services Pvt Ltd & Starteck Infraprojects Pvt Ltd
10. The Company has maintained 25.66% as Capital Adequecy Ratio as on 31.03.2016
11. Pursuant to "Non-Systemically Important Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2015â, a Systemically Important NBFC is required to disclose the Maturity Pattern in the Balance Sheet. Pursuant to the said provisions the borrowings by the Company from other body Corporate are payable as and when the demand been made by the Body Corporate and the Loans and advances granted during the year are perpetual and are renewed on the timely basis. Hence it is difficult to arrive at the Maturity Pattern by the Company as per the NBFC Directions.
12. Previous year''s figures have been regrouped, rearranged, reclassified to the extent possible.
13. Micro, Small and Medium Enterprises
The management has initiated the process of identifying enterprises which have provided goods and services to the company and which qualify under the definition of Micro Small and Medium enterprises, as defined under Micro Small and Medium Enterprises Development Act, 2006. Accordingly, the disclosure in respect of the amount payable to such enterprises as at March 31, 2016 is made in the financial statements based on information received and available with the company.
Mar 31, 2015
1. Terms/rights attached to equity shares
The Company has only one class of Equity Share havi ng value of Rs. 10
Each with an entitlement of one vote per share. The Company declares
and pays dividends in Indian rupees. The dividend proposed by the Board
of Directors are subject to the approval of the shareholders in the
ensuing Annual General Meeting. In the event of liquidation of the
Company, the holder of equity shares will be entitled to receive any of
the remaining assets of the company, after distribution of all
preferential amounts. However, no such preferential amounts exist
currently. The distribution will be in proportion to the number of
equity shares held by the shareholders.
2 In the opinion of the Management, Long Term Loans & Advances, Short
Term Loans & Advances & Short Term Borrowing would be
realizable/payable at least of an amount equal to the amount at which
they are stated in the Balance sheet. Further provisions have been made
for all known & accrued liabilities.
3 Exposure to real Estate Sector is 225,367,597/- Includes Kanaka &
Associates, Piramal Sunteck Realty Pvt Ltd, Sunteck Realty Ltd,
Starlight Systems (I) LLP, Prime Home Constructions and Developers Pvt
Ltd, Satguru Corporate Services Pvt Ltd & Starteck Infraprojects Pvt
Ltd
4 The Company has maintained 63.69% as Capital Adequecy Ratio as on
31.03.2015
5 Pursuant to "Non-Systemically Important Non-Banking Financial
(Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve
Bank) Directions, 2015", a Systemically Important NBFC is required to
disclose the Maturity Pattern in the Balance Sheet. Pursuant to the
said provisions the borrowings by the Company from other body
Corporates are payable as and when the demand been made by the Body
Corporates and the Loans and advances granted during the year are
perpetual and are renewed on the timely basis. Hence it is difficult to
arrive at the Maturity Pattern by the Company as per the NBFC
Directions.
6 Previous year's figures have been regrouped, rearranged, reclassified
to the extent possible.
7 Micro, Small and Medium Enterprises
The management has initiated the process of identifying enterprises
which have provided goods and services to the company and which qualify
under the definition of Micro Small and Medium enterprises, as defined
under Micro Small and Medium Enterprises Development Act, 2006.
Accordingly, the disclosure in respect of the amount payable to such
enterprises as at March 31, 2015 is made in the financial statements
based on information received and available with the company.
8 Other information pursuant to provision of paragraph 3, 4A, 4C & 4D
of Part II of schedule VI of the Companies Act, 1956 are either Nil or
Not Applicable.
Mar 31, 2014
1. Share capital
Terms/rights attached to equity shares
The Company has only one class of Equity Share having value of Rs. 10
Each with an entitlement of one vote per share.
The company declares and pays dividends in Indian rupees. The dividend
proposed by the Board of Directors are subject to the approval of the
shareholders in the ensuing Annual General Meeting
In the event of liquidation of the Company, the holder of equity shares
will be entitled to receive any of the remaining assets of the company,
after distribution of all preferential amounts However, no such
preferential amounts exist currently. The distribution will be in
proportion to the number of equity shares held by the shareholders.
2. In the opinion of the Management, all Current Assets, Loans &
Advances & Current Liabilities would be realizable at least of an
amount equal to the amount at which they are stated in the Balance
sheet. Further provisions have been made for all known & accrued
liabilities.
3. Exposure to real Estate Sector is 337,571,830/- Includes Kanaka &
Associates, Piramal Sunteck Realty Pvt. Ltd., Sunteck Realty Ltd.,
Skystart Buildcon Pvt. Ltd., Starteck Infraprojects Pvt. Ltd.
4. The Company has maintained 63.41% as Capital Adequecy Ratio as on
31.03.2014
5. Pursuant to Non Banking Financial (Non Deposit Accepting or Holding)
Companies Prudential Norms (Reserve Bank) Directions, 2007, a
Systemically Important NBFC is required to disclose the Maturity
Pattern in the Balance Sheet. Pursuant to the said provisions the
borrowings by the Company from other body Corporates are payable as and
when the demand been made by the Body Corporates and the Loans and
advances granted during the year are perpetual and are renewed on the
timely basis. Hence it is difficult to arrive at the Maturity Pattern
by the Company as per the NBFC Directions.
6. Previous year''s figures have been regrouped, rearranged,
reclassified to the extent possible.
7. Micro, Small and Medium Enterprises
The management has initiated the process of identifying enterprises
which have provided goods and services to the company and which qualify
under the definition of Micro Small and Medium enterprises, as defined
under Micro Small and Medium Enterprises Development Act, 2006.
Accordingly, the disclosure in respect of the amount payable to such
enterprises as at March 31, 2014 is made in the financial statements
based on information received and available with the company.
8. Other information pursuant to provision of paragraph 3, 4A, 4C & 4D
of Part II of schedule VI of the Companies Act, 1956 are either Nil or
Not Applicable.
Mar 31, 2013
1 Exposure to real Estate Sector is 52,76,73,620/- ( includes Kanaka &
Associates, Advaith Infraprojects Pvt Ltd)
2 Company has maintained 7.84% as Capital Adequecy Ratio as on
31.03.2013
3 Pursuant to Non Banking Financial (Non Deposit Accepting or Holding)
Companies Prudential Norms (Reserve Bank) Directions, 2007, a System
ically Important NBFC is required to disclose the Maturity Pattern in
the Balance Sheet. Pursuant to the said provisions the borrowings by
the Company from other body Corporates are payable as and when the
demand been made by the Body Corporates and the Loans and advances
granted during the year are perpetual and are renewed on the timely
basis. Hence it is difficult to arrive at the Maturity Pattern by the
Company as per the NBFC Directions.
4 Previous year''s figures have been regrouped, rearranged, reclassified
to the extent possible.
5 Micro. Small and Medium Enterprises
The management has initiated the process of identifying enterprises
which have provided goods and services to the company and which qualify
under the definition of Micro Small and Medium enterprises, as defined
under Micro Small and Medium Enterprises Development Act, 2006.
Accordingly, the disclosure in respect of the amount payable to such
enterprises as at March 31, 2013 is made in the financial statements
based on information received and available with the company.
6 Other information pursuant to provision of paragraph 3, 4A, 4C & 4D
of Part II of schedule VI of the Companies Act, 1956 are either Nil or
Not Applicable.
Mar 31, 2012
Moiiies received against share warrants
The Company has issued and allotted 10,00,000 Convertible Warrants
pursuant to Section 81(l)(a) of the Companies Act, 1956. In accordance
of the terms of the issue of the Convertible Warrants, during the year
4,00,000 Warrant Holders exercise the option and pursuant to the same
4,00,000 Equity Shares have been allotted at the Meeting of the Board
of Directors held on 13th February 2012.
i) Entities in which KMP/ relatives of KMP have significant influence
- Stmteck Wealthmax Commodities Pvt Ltd
- Stirvteck. Wealthmax Capital Pvt Ltd
ii) Other Related Parties
Eskay Infrastructure Development Pvt Ltd .
1. In the opinion of the Management, all Current Assets, Loans &
advances & Current Liabilities would be realizable at least of an
amount equal to the amount at which they are stated in the Balance
sheet. Further provisions have been made for all known & accrued
liabilities.
The Following additional information is disclosed in terms of RBI
Circulars: (From Note No 4 to 7 below):
2. Exposure to real Estate Sector is 77,86,07,160/- (includes Piramal
Sunteck, Sunteck Realty Ltd, Kanaka & Associates, Eskay Infrastructure
Pvt. Ltd.)
3. Company has maintained 11.26% as Capital Adequecy Ratio as on
31.03.2012.
4. Pursuant to Non Banking Financial (Non Deposit Accepting or
Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007, a
Systemically Important NBFC is required to disclose the Maturity
Pattern in the Balance Sheet. Pursuant to the said provisions the
borrowings by the Company from other body Corporate are payable as and
when the demand been made by the Body Corporate and the Loans and
advances granted during the year are perpetual and are renewed on the
timely basis. Hence it is difficult to arrive at the Maturity Pattern
by the Company as per the NBFC Directions.
5. Previous year's figures have been regrouped, rearranged,
reclassified to the extent possible.
6. Micro, Small and Medium Enterprises
The management has initiated the process of identifying enterprises
which have provided goods and services to the company and which qualify
under the definition of Micro Small and Medium enterprises, as defined
under Micro Small and Medium Enterprises Development Act, 2006.
Accordingly, the disclosure in respect of the amount payable to such enterprises as at March 31, 2012 is made in the financial statements
based on X information received and available with the Company.
7. Other information pursuant to provision of paragraph 3,4A, 4C & 4D
of Part II of schedule VI of the Companies Act, 1956 are either Nil or
Not Applicable.
Mar 31, 2010
1) Nature of Business
The Company is Non-banking Financial Company registered with the
Reserve Bank of India (RBI) under Section 45-IA of the Reserve Bank of
India Act, 1934 and primarily engaged in lending and related
activities. The Company received the Certificate of Registration from
the RBI on 20th April, 1998, enabling the Company to carry on business
as a Non-banking Finance Company.
In accordance with the provisions of Section 45- IC of the RBI Act,
1934, the Company has created a Statutory Reserve Fund and as per the
same, the Company has transferred an amount of Rs.112,217 /-to
Statutory Reserve Fund, being 20% of the Profit After Tax.
2. Related Party Disclosures A) Related Parties
I) Enterprise holding control
Eskay Infrastructure Development Private Limited
II) Entities having Significant Influence
a) Prosperous Finance Services Limited
b) Tashi India Limited
III) Key Management Personnel
a) Kamal Khetan
b) Kamal Kishore Vyas
c) Anil Agarwal
d) Monal Malji
3) In the opinion of the Management, all Current Assets, Loans &
advances & Current Liabilities would be realizable at least of an
amount equal to the amount at which they are stated in the Balance
sheet. Further provisions have been made for all known & accrued
liabilities.
4) Previous years figures have been regrouped, rearranged,
reclassified to the extent possible.
Mar 31, 2009
1. No other information under clause 4-D of Parti I to the Schedule VI
has been furnished since the same is not applicable for the year.
2. Segment Reporting: The company operates in a single geographical and
business segment (Finance and related activities).
3 Transactions with Related Parties: (As identified by the Management)
i) Related Party Relationships
a) Where control exists None
b) Other Related Parties Prosperous Finance Services Limited,
Tashi India Limited,
NOTES:
I. The parties listed under (b) above a re not "related parties" as per
the requirements of Assounting Standard 18. However, as a matter of
abundant caution, they are being included for making the Financial
Statements more transparent.
4. Figures for previous year have been regrouped and rearranged
wherever necessary.
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