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Notes to Accounts of Nivedita Mercantile & Financing Ltd.

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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