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Notes to Accounts of NPR Finance Ltd.

Mar 31, 2015

1. NOTES TO THE FINANCIAL STATEMENTS

(a) Contingent Liabilities :

i. Bank Guarantee issued by bank on behalf of the Company is ' 16.79 Lacs (P.Y ' 41.79 Lacs). Bank Guarantee has been obtained by pledging Fixed Deposit of the equivalent amount.

ii. Suit Filed against the Company by customers under hypothecation contract amount to Rs. 9.63 Lacs (P.Y Rs. 6.84 lacs). However in some cases the amount are indeterminate and hence are not mentioned.

iii. With respect to Income Tax, there is a disputed demand of interest amounting to Rs. 10,970/- in respect of Assessment Year 2009-2010 for which management has submitted letter for rectification.

(b) Commitments :

i. The Estimated amount of Contracts remaining to be executed on capital account and not provided for is - NIL

2. Income Tax :

i. The net deferred tax liability of Rs. 219.77 lacs as on 31.03.2015, component of which is liability arising out of timing difference on account of depreciation on fixed assets has been recognized in the accounts.

ii. With respect to income tax, demand amounting to Rs. 38.94 lacs has been shown in the Income Tax site. As per the management, these are fictitious demand which needs to be cancelled /rectified by the Income Tax Department and in respect of which corrective response has been submitted by the Company in the Income Tax Site.

3. Segment Reporting :

Primary Segment: Business Segment:

* The Company's business is organized around four business segments namely, Financial, Money Changing, Wind Power Generation and Real Estate. Financial activities consist of granting of loan covered by Hypothecation Agreements, Inter Corporate Deposites and Shares & Securities. Accordingly, the Company has provided primary segment information for these four segments as per Accounting Standard 17 on Segment Reporting issued by I.C.A.I.

* There is no inter-segment transfer.

* All the common income, expenses, assets and liabilities which are not possible to be allocated to different segments are treated as un-allocable items.

4. Depreciation :

The written down value of Fixed Assets whose lives have expired as at 1st April 2014 have been adjusted net off tax, in the opening balance of Profit and Loss Account amounting to ' 16.84 lacs. As per earlier method, depreciation would amount to Rs. 76.67 lacs compared to current depreciation of ' 61.40 lacs. Therefore, profit for the current year has been increased by Rs. 15.27 lacs pursuant to the applicability of the Companies Act, 2013.

5. Suit filed by the Company :

During the year and in earlier years, company had filed cases against the customers to whom loans were given under the Hypothecation Contract. Total numbers of Cases pending are 3343 nos. and the amount involved is approximately Rs. 3433.80 lakhs. The money realized is shown as income in the profit & loss account as all the debts were written off in earlier years.

6. As required by Accounting Standard (AS-28) on 'Impairment of Assets' issued by the Institute of Chartered Accountants of India, in the opinion of the management, the net realizable value of fixed assets is in excess of the written down value and there is no significant impairment loss in the value of fixed assets appearing in this Balance Sheet requiring appropriation/adjustment in the Accounts.

7. Gratuity Plan

The following table set out the status of the Gratuity Plan as required under AS-15.

In the actuarial valuation report of gratuity expense recognized in Profit & Loss account has been shown at ' 3.25 lacs, which is after deducting net interest income of ' 0.12 lacs earned by the Group Gratuity cash accumulation plan fund as on 31.03.2015 as reported by LIC. The said income not been deducted from expenses at ' 3.37 lacs that has been recognized in Profit & Loss Account for the F.Y. ended 31.03.2015 as per Books of Accounts.

8. Leave Encashment Plan

The following table set out the status of the Leave Encashment Plan as required under AS 15.

9. RELATED PARTY TRANSACTIONS DISCLOSURE

Enterprises where control Exists

1 GNB Motors Private Limited

2 Mountview Tracom LLP

3 Rani Leasings & Finance Private Limited

4 T.P. Farms Private Limited

5 Viewlink Highrise Private Limited

6 Ganesh Narayan Brijlal Private Limited

7 Zee ABC Agro Industries Private Limited

8 Tamal Stationers Private Limited

9 NSP Finance Private Limited

10 Global Developers Private Limited

11 Bengal NPR Housing Development Limited

12 GNB Investments Private Limited

13 Regent Enclave Private Limited

14 Limelight Holdings Private Limited

15 E.I. Investments Private Limited

16 Frontline Global Services Private Limited

17 Dream Properties Private Limited

18 Ace Impex Private Limited

19 East End Finance Private Limited

20 Krishnav Constructions Private Limited

21 NPR Developers Private Limited

22 NPR Motors Private Limited

23 Rishi Motors Private Limited

24 Silva Computech Private Limited

25 Shristi Developers Private Limited

26 Supreme Credit Corp. Ltd.

27 Matra Studios LLP

28 Priyashi Construction Pvt. Ltd.

29 Rani Nagar Paper & Boards Pvt. Ltd.

30 New Age Enclave Pvt. Ltd.

31 Oval Promoters LLP

32 Starwire (India) Vidyut Private Limited

Other Entities under the Control of the Company

1 Pawan Kumar Todi

2 Nand Lal Todi

3 Renu Todi

4 Varun Todi

5 Rishi Todi

6 Shanti Devi Todi

7 Priya Manjari Todi

8 Nandlal Pawan Kumar Todi HUF

9 Pawan Kumar Todi HUF

10 Pawan Kumar Raj Kumar Todi HUF

11 Pawan Kumar NandLal Todi HUF

12 Nandlal Raj Kumar Todi HUF

Key Managerial Personnel

1 Pawan Kumar Todi, Managing Director

2 Sarika Mehra, Executive Director & Company Secretary

3 Ashok kumar Shah, CFO

a) There has been no change/ movement in number of shares outstanding at the beginning and at the end of the reporting period.

b) The company has only one class of issued shares i.e Ordinary Shares having par value of Rs. 10/- per share. Each holder of Ordinary Shares is entitled to One vote per share and equal right for dividend. The dividend proposed by the Board of Directors is subject to the approval of shareholders in ensuing Annual General Meeting , except in case of interim dividend. In the event of liquidation, the ordinary shareholders are eligible to receive the remaining assets of the Company after payment of all preferential amounts, in proportion to their Shareholding.

c) The Company does not have any Holding Company/ ultimate Holding Company.

d) Details of Shareholders holding more than 5% Shares in the Company.

e) No Ordinary Shares have been reserved for issue under option and contracts/ commitments for the sale of shares/ disinvestment as at the balance sheet date.

f) No Shares has been alloted or bought back by the company during the period of 5 years preceeding the date at which the balance sheet is prepared.

g) No Securities convertible into Equity/ Preference Shares issued by the company during the year.

h) No calls are unpaid by any director or officer of the company during the year.


Mar 31, 2014

1.1 Contingent Liabilities :

i. Bank Guarantee issued by bank on behalf of the Company is Rs. 41.79 Lacs. Bank Guarantee has been obtained by pledging Fixed Deposit of the equivalent amount.

ii. Suit Filed against the Company by customers under hypothecation contract amount to Rs. 6.84 Lacs.

1.2 INCOME TAX :

Pursuant to the requirement of Accounting Standard 22 on Accounting for taxes on Income issued by the Institute of Chartered Accountants of India, the Company has made Provision for Income Tax after considering both current and deferred taxes.

The implementation of this Accounting Standard has resulted in net deferred tax liability of Rs.. 241.79 lacs as on 31.03.2014, component of which is liability arising out of timing difference on account of depreciation on fixed assets.

1.3 SEGMENT ACCOUNTING POLICIES: Identification of Segments : Primary Segment : Business Segment :

- The Company''s business is organized around three business segments namely, Financial, Money Changing and Wind Power Generation. Financial activities consist of granting of loan covered by Hypothecation Agreements and Shares & Securities. Accordingly, the Company has provided primary segment information for these three segments as per Accounting Standard 17 on Segment Reporting issued by I.C.A.I.

- There is no inter segment transfer.

- All the common income, expenses, assets and liabilities which are not possible to be allocated to different segments are treated as un-allocable items.

Segment Information

The following table presents segment revenue, results, assets & liabilities in accordance with AS-17 as on 31.03.2014

The above particulars, as applicable, have been given in respect of MSEs. No party could be identified on the basis of information available with the Company and pursuant to amendment of Schedule VI to the Act vide Notification dated 16th November, 2007 issued by the Central Government.

1.4 As required by Accounting Standard (AS -28) on ''Impairment of Assets'' issued by the Institute of Chartered Accountants of India, in the opinion of the management, the net realizable value of fixed assets is in excess of the written down value and there is no significant impairment loss in the value of fixed assets appearing in this Balance Sheet requiring appropriation/ adjustment in the Accounts.

1.5 In viewof the natureof business of the Company, the other provisions contained in Part II of Schedule VI of theCompanies Act, 1956 are not applicable.

1.6 Gratuity Plan

The following table set out the status of the Gratuity Plan as required under AS 15.

1.7 Related Party Disclosures

Associates

1 GNB Motors Private Limited

2 Mountview Tracom LLP

3 Rani Leasings & Finance Private Limited

4 Starwire (India) Vidyut Private Limited

5 T.P Farms Private Limited

6 Viewlink Highrise Private Limited

7 Ganesh Narayan Brijlal Private Limited

8 Zee ABC Agro Industries Private Limited

9 Tamal Stationers Private Limited

10 NSP Finance Private Limited

11 Global Developers Private Limited

12 Bengal NPR Housing Development Limited

13 GNB Investments Private Limited

14 Regent Enclave Private Limited

15 Limelight Holdings Private Limited

16 E.I. Investments Private Limited

17 Frontline Global Services Private Limited

18 Dream Properties Private Limited

19 Ace Impex Private Limited

20 East End Finance Private Limited

21 Krishnav Constructions Private Limited

22 NPR Developers Private Limited

23 NPR Motors Private Limited

24 Rishi Motors Private Limited

25 Silva Computech Private Limited

26 Shristi Developers Private Limited

27 Supreme Credit Corporation Ltd.

28 Pawan Kumar Raj Kumar Todi HUF

29 Pawan Kumar Todi HUF

30 Pawan Kumar Nandlal Todi HUF

31 Nandlal Todi HUF

32 Nandlal Pawan Kumar HUF


Mar 31, 2013

1.1 Contingent Liabilities :

i. Bank Guarantee issued by bank on behalf of the Company is Rs. 26.89 Lacs. Bank Guarantee has been obtained by pledging Fixed Deposit of the equivalent amount.

ii. Suit Filed against the Company by customers under hypothecation contract amounting to Rs. 12.18 Lacs.

iii. Disputed Income Tax liability for the A.Y. 2007-08 amount to Rs. 2.26 Lacs.

1.2 INCOME TAX:

Pursuant to the requirement of Accounting Standard 22 on Accounting for taxes on Income issued by the Institute of Chartered Accountants of India, the Company has made Provision for Income Tax after considering both current and deferred taxes.

The implementation of this Accounting Standard has resulted in net deferred tax liability of Rs. 265.86 lacs as on 31.03.2013, component of which is liability arising out of timing difference on account of depreciation on fixed assets.

1.3 SEGMENT ACCOUNTING POLICIES: Identification of Segments: Primary Segment: Business Segment:

- The Company''s business is organized around three business segments namely, Financial, Money Changing and Wind Power Generation. Financial activities consist of granting of loan covered by Hypothecation Agreements and Shares & Securities. Accordingly the Company has provided primary segment information for these three segments as per Accounting Standard 17 on Segment Reporting issued by I.C.A.I.

- There is no inter segment transfer.

- All the common income, expenses, assets and liabilities which are not possible to be allocated to different segments are treated as un-allocable items.

1.4 Related Party Disclosures

Associates

1. GNB Motors Pvt. Ltd. 2. Mount View Tracom Pvt. Ltd.

3. Rani Leasings & Finance Private Limited 4. Starwire (India) Vidyut Pvt. Ltd.

Relatives of Key Management Personnel

I. Brijlal Nandlal Todi (HUF) 2. Chetan Todi Family Trust

3. Krishna Gopal Kosh 4. Nandlal Pawan Kumar HUF

5. Nandlal Rajkumar Todi HUF 6. Nandlal Shanti Devi

7. Nandlal Todi Family Trust 8. Ram Sita Nidhi

9. RenuTodi 10. Renu Todi Family Trust

II. Rishi Todi Family Trust 12. Shanti Devi Todi 13. Shree Bhagwan Balgopal Kosh 14. Shree Durga Kosh 15. Shree Shree Bihariji Kosh 16. Sri Laxmi Nidhi 17. Sri Baba Taraknath Kosh 18. Sri Ganesh Kosh 19. Varun Todi Family Trust

1.5 As required by Accounting Standard (AS -28) on ''Impairment of Assets'' issued by the Institute of Chartered Accountants of India, in the opinion of the management, the net realizable value of fixed assets is in excess of the written down value and there is no significant impairment loss in the value of fixed assets appearing in this Balance Sheet requiring appropriation/ adjustment in the Accounts.

1.6 In view of the nature of business of the Company, the other provisions contained in Part II of Schedule VI of the Companies Act, 1956 are not applicable.

1.7 Gratuity Plan

The following table set out the status of the Gratuity Plan as required under AS 15.

Reconciliation of opening and closing balances of the present value of the defined benefit obligation and Plan assets:

a) There has been no change/ movements in number of shares outstanding at the beginning and at the end of the reporting period.

b) The company has only one class of issued shares i.e Ordinary Shares having par value of Rs. 10/- per share. Each holder of Ordinary Shares is entitled to One vote per share and equal right for dividend. The dividend proposed by the Board of Directors is subject to the approval of shareholders in ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation , the ordinary shareholders are eligible to receive the remaining assets of the Company after payment of all preferential amounts, in proportion to their Shareholding.

c) The Company does not have any Holding Company/ ultimate Holding Company.

d) Details of Shareholders holding more than 5% Shares in the Company.

e) No Ordinary Shares have been reserved for issue under option and contracts/ commitments for the sale of shares/ disinvestment as at the balance sheet date.

f) No Shares has been alloted or bought back by the company during the period of 5 years preceeding the date at which the balance sheet is prepared.

g) No Securities convertible into Equity/ Prefrence Shares issued by the company during the year. h) No calls are unpaid by any director or officer of the company during the year.


Mar 31, 2012

1.1 Contingent Liabilities :

i. Bank Guarantee issued by bank on behalf of the Company is Rs. 32.82 Lacs. Bank Guarantee has been obtained by pledging Fixed Deposit of the equivalent amount.

ii. Suit Filed against the Company by customers under hypothecation contract amount to Rs. 11.10 Lacs.

iii. Suit Filed by the Company against the customer under Hypothecation contract amount to Rs. 3453.33 lacs.

1.2 INCOME TAX:

Pursuant to the requirement of Accounting Standard 22 on Accounting for taxes on Income issued by the Institute of Chartered Accountants' India, the Company has made Provision for Income Tax after considering both current and deferred taxes.

The implementation of this Accounting Standard has resulted in net deferred tax liability of Rs. 283.34 lacs as on 31.03.2012, component of which is liability arising out of timing difference on account of depreciation on fixed assets.

1.3 SEGMENT ACCOUNTING POLICIES:

Identification of Segments:

Primary Segment: Business Segment:

- The Company's business is organized around three business segments namely, Financial, Money Changing and Wind Power Generation. Financial activities consist of granting of loan covered by Hypothecation Agreements and Shares & Securities. Accordingly the Company has provided primary segment information for these three segments as per Accounting Standard 17 on Segment Reporting issued by I.C.A.I.

- There is no inter segment transfer.

- All the common income, expenses, assets and liabilities which are not possible to be allocated to different segments are treated as un-allocable items.

Segment Information

The following table presents segment revenue, results, assets & liabilities in accordance with AS-17 as on 31.03.2012

The above particulars, as applicable, have been given in respect of MSEs. No party could be identified on the basis of information available with the Company and pursuant to amendment of Schedule VI to the Act vide Notification dated 16th November, 2007 issued by the Central Government

1.4 As required by Accounting Standard (AS -28) on 'Impairment of Assets' issued by the Institute of Chartered Accountants of India, in the opinion of the management, the net realizable value of fixed assets is in excess of the written down value and there is no significant impairment loss in the value of fixed assets appearing in this Balance Sheet requiring appropriation/ adjustment in the Accounts.

1.5 In view of the nature of business of the Company, the other provisions contained in Part II of Schedule VI of the Companies Act, 1956 are not applicable.

1.6 Gratuity Plan

The following table set out the status of the Gratuity Plan as required under AS 15.

Reconciliation of opening and closing balances of the present value of the defined benefit obligation and Plan assets:

a) There has been no change/ movements in number of shares outstanding at the beginning and at the end of the reporting period.

b) The company has only one class of issued shares i.e Ordinary Shares having par value of Rs.10/- per share. Each holder of Ordinary Shares is entitled to One vote per share and equal right for dividend. The dividend proposed by the Board of Directors is subject to the approval of shareholders in ensuing Annual General Meeting , except in case of interim dividend. In the event of liquidation, the ordinary shareholders are eligible to receive the remaining assets of the Company after payment of all preferential amounts, in proportion to their Shareholding.

c) The Company does not have any Holding Company/ ultimate Holding Company.

d) Details of Shareholders holding more than 5% Shares in the Company.

e) No Ordinary Shares have been reserved for issue under option and contracts/ commitments for the sale of shares/ disinvestment as at the balance sheet date

f) No Shares has been alloted or bought back by the company during the period of 5 years preceeding the date at which the balance sheet is prepared

g) No Securities convertible into Equity/ Prefrence Shares issued by the company during the year.

h) No calls are unpaid by any director or officer of the company during the year.

a) Loan from HDFC Bank Ltd. of Rs. 290,534 is secured against "Mahindra Xylo D2" and is repayble in monthly installement till 7th June, 2013.

b) Loan from HDFC Bank Ltd. of Rs. 201,086 is secured against "Tata Indica DLs" and is repayble in monthly installement till 5"1 February, 2015

c) Term loan from finacial institution of Rs. 23,616,000 IREDA is secured against exclusive first charge by way of mortgage in on all the borrower's movable/ immovable properties both existing and future pertaining to the project at Dhule and Sangli in Maharastra excluding specified movables to be charged to bankers for working capital borrowing and further the personal guarantee has been provided by Nand Lai Todi, Pawan Kumar Todi and Varun Todi

d) Term loan from Tata Capital Ltd. of Rs. 372,683 is secured against "Honda City SMT" and is repayble in monthly installment till August,2013

a) Cash Credit from Allahabad Bank are secured by first charge over the book debts and hypothecation agreements executed by the borrower in favour of the financer and endorsed in favour of bank and collateral security is also been provided in the form of Flat of 89.sq.yard and also an office premises measuring 508.10 sq.ft situated at Abdul Aziz Road, Karolbagh, New Delhi

a) Stock of vehicle repossessed has been valued and certified by the management.

b) Stock of Shares & Securities has been valued on the basis of Cost or Fair Value whichever is lower.

c) Stock of foreign currency has been valued on the basis of the last day spot rate.


Mar 31, 2010

A. The Statutory maintenance of minimum percentage of liquid assets is based on deposits liabilities as per directions given by Reserve Bank of India.

B. Non-Performing Assets:

Identification of Non-Performing Assets (NPAs) have been done as per the guidelines of Non-Banking Financial Companies (Prudential Norms) Directions, 1998 prescribed by the Reserve Bank of India. Company has written off asthe amount as per the guidelineofRBI.

C Contingent Liabilities:

i. Estimated amount of Estate Development Contracts remaining to be executed is not ascertainable.

ii Bank Guarantee issued by bank on behalf of the Company is Rs. 49.65 Lakhs. Bank Guarantee has been obtained by pledging Fixed Deposit of the equivalent amount.

iii. Suit Filed against the Company by customers under hypothecation contract amount to Rs. 11.54 lacs.

D. Secured Loans:

i. Cash Credit facilities from Banks are secured by hypothecation of assets covered by Hypothecation Contracts and Receivables arising there from ranking pari passu (excluding Assets which are specifically charged to others), counter Guarantee by the Director, Promoters & Associate. Further Companys Specific Properties have also been given as Collateral.

ii Overdraft facilities from Banks are against pledge of Fixed Deposits.

iii. Term Loans from Banks and domestic Financial Institution are secured by hypothecation of specific Fixed Assets / Hypothecation Contracts and Receivable arising there from ranking pari passu (excluding Assets which are specifically charged to others) and counter Guarantee by the Director, Promoters & Associate in certain cases.

iv. Company shall make Term Loan repayment along with interest of Rs. 143 20 lacs in the FY. 2010-2011.

E. INCOME TAX:

Pursuant to the requirement of Accounting Standard 22 on Accounting for taxes on Income issued by the Institute of Chartered Accountants of India, the Company has made Provision for Income Tax after considering both current and deferred taxes.

The implementation of this Accounting Standard has resulted in net deferred tax liability of Rs 343.47 lacs as on 31.03.2010, component of which is liability arising out of timing difference on account of depreciation on fixed assets.

F. SEGMENT ACCOUNTING POLICIES: Identification of Segments:

Primary Segment: Business Segment:

- The Companys businesses organized around three business segments namely, Financial, Money Changing and Wind Power Generation. Financial activities consist of granting of loan covered by Leasing and Hypothecation Agreements and Shares & Securities . Accordingly the Company has provided primary segment information for these three segments as per Accounting Standard 17 on Segment Reporting issued by I.C.A.I.

- There is no inter segment transfer.

- All the Common income, expenses, assets and liabilities which are not possible to be allocated to different segments are treated as un-allocable items.

G. Related Party Disclosures Associates

- 1. E. I. Investments Pvt. Ltd.

2. East End Finance Pvt. Ltd.

3. GNB Finance Pvt. Ltd.

4. Ganesh Narayan Brijlal Pvt. Ltd.

5. Lime Light Holdings Pvt. Ltd.

6. Magnum Credit & Consultants Pvt. Ltd.

7. Nadia Printing & Packaging Pvt. Ltd.

8. NPR Motors Pvt. Ltd.

9. R. K. Fuels Pvt. Ltd.

10. Rani Leasings & Finance Ltd.

11. Regent Enclave Pvt. Ltd.

12. Silva Computech Pvt. Ltd.

13. Silva Pharmaceuticals Pvt. Ltd.

14. Star Wire (India) Vidyut Pvt. Ltd.

15. Supreme Credit Corporation Ltd.

16. Tamal Stationers Pvt. Ltd.

17. Three Ha Industries Pvt. Ltd.

The above particulars, as applicable, have been given in respect of MSEs. No party could be identified on the basis of information available with the Company and pursuant to amendment of Schedule VI to the Act vide Notification dated 16th November, 2007 issued by the Central Government

H. As required by Accounting Standard (AS -28) on Impairment of Assets issued by the Institute of Chartered - Accountants of India, Company has appropriated Rs 111.81 lacs towards impairment of Leased assets of solar - equipments out of which Rs 99.76 lacs have been appropriated from the earlier financial years & Rs. 12.05 from the year under review.

I. In view of the nature of business of the Company, the other provisions contained in Part II of Schedule VI of the Companies Act, 1956 are not applicable.


Mar 31, 2009

A. The Statutory maintenance of minimum percentage of liquid assets is based on deposits liabilities as per directions given by Reserve Bank of India.

B. Non-Performing Assets:

. Identification of Non-Performing Assets (NPAs) have been done as per the guidelines of Non-Banking Financial Companies (Prudential Norms) Directions, 1998 prescribed by the Reserve Bank of India. Company has written off as the amount as per the guideline of RBI.

. As on 31" March, 2009, amount of Rs.19.22 Lakhs is overdue for a period exceeding 6 months from M/s. Oceanic Air Travel Services. The said amount is secured on the basis of decree dated 22.10.08 Obtained by the company on the property from which the company is allowed to recover Rs.20.56 Lakhs with future interest @6% p.a. on Rs. 15.86 Lakhs till realization and cost from the party and assets.

C Contingent Liabilities:

i. Estimated amount of Estate Development Contracts remaining to be executed is not ascertainable.

ii Bank Guarantee issued by bank on behalf of the Company is Rs. 49.65 Lakhs. Bank Guarantee has been

obtained by pledging Fixed Deposit of the equivalent amount. ii Suit Filed against the Company by customers under hypothecation contract amount to Rs. 8.11 lacs.

D. Secured Loans:

i) Cash Credit facilities from Banks are secured by hypothecation of assets covered by Hypothecation Contracts and Receivables arising therefrom ranking pari passu (excluding Assets which are specifically charged to others), counter Guarantee by the Director, Promoters & Associate. Further Companys Specific Properties have also been given as Collateral.

ii) Overdraft facilities from Banks are against pledge of Fixed Deposits.

iii) Term Loans from Banks and domestic Financial Institution are secured by hypothecation of specific Fixed Assets / Hypothecation Contracts and Receivable arising therefrom ranking pari passu (excluding Assets which are specifically charged to others) and counter Guarantee by the Director, Promoters & Associate in certain cases.

iv) Company shall make Term Loan repayment along with interest of Rs. 107.14 lacs in the FY. 2009-2010.

E. INCOME TAX:

Pursuant to the requirement of Accounting Standard 22 on Accounting for taxes on Income issued by the Institute of Chartered Accountants of India, the Company has made Provision for Income Tax after considering both current and deferred taxes.

The implementation of this Accounting Standard has resulted in net deferred tax liability of Rs 396.77 lacs as on 31.03.2009 , the major component of which is liability arising out of timing difference on account of depreciation on fixed assets.

F. SEGMENT ACCOUNTING POLICIES: Identification of Segments:

Primary Segment: Business Segment:

. The Company business is organized around three business segments namely, Financial, Money Changing and Wind Power Generation. Financial activities consist of granting of loan covered by Leasing and Hypothecation Agreements and Shares & Securities. Accordingly the Company has provided primary segment information for these three segments as per Accounting Standard 17 on Segment eporting issued by I.C.A.I.

. There is no inter segment transfer.

. All the common income, expenses, assets and liabilities which are not possible to be allocated to different segments are treated as un-allocable items.

G. Related Party Disclosures

Associates

1. Akash Libra Lights Pvt. Ltd.

2. E.I.Investments Pvt. Ltd.

3. GNB Finance Pvt. Ltd.

4. Ganesh Narayan Brijlal Ltd.

5. GNB Motors Ltd.

6. Krishi Realities Pvt. Ltd.

7. Magnum Credit & Consultants Pvt. Ltd.

8. Nadia Printing & Packaging Pvt. Ltd.

9. NPR Infosystems Pvt. Ltd.

10. Priyashi Constructions Pvt. Ltd.

11. Rani Leasings & Finance Ltd.

12. R.K. Fuels Ltd.

13. Silva Computech Pvt. Ltd.

14. Supreme Consumer Products Ltd.

15. Three Ha Industries Ltd.

H. information relating to Micro and Small Enterprises (MSEs) :

(I) The principal amount and interest due thereon remaining unpaid to any supplier as at the end of the year

Principal —

Interest —

(II) The amount of interest accrued and remaining unpaid at the end — of accounting year

(III)The amount of interest paid by the buyer in terms of Section 16 — to the Micro, Small and Medium Enterprise Development Act, 2006 along with the amounts of the payment made to the supplier beyond the appointed day during the year -

Principal Interest

The above particulars, as applicable, have been given in respect of MSEs. No party could be identified on the basis of information available with the Company and pursuant to amendment of Schedule VI to the Act vide Notification dated 16" November, 2007 issued by the Central Government

I. As required by Accounting Standard (AS -28) on Impairment of Assets issued by the Institute of Chartered Accountants of India, in the opinion of the management, the net realisable value of fixed assets is in excess of the written down value and there is no impairment loss in the value of fixed assets appearing in this Balance Sheet requiring appropriation/adjustment in the Accounts.

J. In view of the nature of business of the Company, the other provisions contained in Part II of Schedule VI of the Companies Act, 1956 are not applicable.

K. Generic Names of Principal Products/Service of Company (as per monetary terms)

Items Code No. (ITC Code) : Not Applicable

Description : FINANCING

MONEY CHANGING BUSINESS POWER GENERATION

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