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Accounting Policies of Oasis Securities Ltd. Company

Mar 31, 2014

A) Fixed Assets are stated at cost less Depreciation. Depreciation on fixed asstes is provided as per the straight Line Method on pro rata basis at the rates and in the manner prescribed by the schedule XIV of the companies act 1956

b) The preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions to be made that affect the reported amounts of revenue and expenses during the reporting period, the reported amount of assets & liabilities and the disclosures relating to the contingent liabilities on the date of the financial statements. Examples of such estimates include useful lives of provisions for doubtful debts/advances, deferred tax etc. Actual results could differ from those estimates, such difference is recognised in the period/s in which results are known / materialised.

c) The accounts are prepared on the basis of going concern under historical cost convention as also accrual basis and in accordance with Accounting Standards referred to in Section 211 (3C) of the Companies Act 1956, which have been prescribed by the Companies (Accounting Standards) Rules 2006, and the relevant provisions of the Companies Act, 1956.

d) Stock in Trade is valued at Cost or Market Value, whichever is lower.

e) Long term Investments are carried at cost less provisions, if any, for permanent diminution in value of such investment.

No Provision is considered necessary for temporary diminision in value of such investments.

f) Current Tax is the amount of tax payable on the taxable income for the year as determined in accordance with the provision of Income Tax Act, 1981

g) In view of smallness of liability and uncertainty, retirement benefit have not been provided for as per AS 15.

h) If internal / external indications suggest that an asset of the company may be impaired, the recoverable amount of asset / cash generating asset is determined on the Balance Sheet date and if it is less than its carrying amount, the carrying amount of the asset / cash generating unit is reduced to the said recoverable amount. The recoverable amount is measured as the higher of net selling price and value in use of such assets / cash generating unit, which is determined by the present value otthe estimated future Cash Flows. As at the Balance Sheet date, there was no such indication.

i) Transferred to statutory reserves u/s (45 IC) of RBI Act amounting to Rs. 3,49,366/- for current year, where as Rs.1,68,21,728/- pertains to prior years.

j) The Company has no other Segment except that of securities. Therefore, segment accounting as of AS-17 is not required.

l) Income and expenditure pertaining to prior period, wherever material, are disclosed separately.

m) The Company recognised as Provisions, the liabilities being present obligations arising from past events, the settlement of which is expected to result in an outflow of resources and which can be measured only by using a substantial degree of estimation.

n) Contingent Assets are neither recognised nor disclosed.

o) Contingent Liability is disclosed by way of note to the financial statements after careful evaluation by the management of the fact and legal aspect of the matters involved.


Mar 31, 2013

A) The preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions to be made that affect the reported amounts of revenue and expenses during the reporting period, the reported amount of assets 3 liabilities and We .disclosures relating to the contingent liabilities (in the date of the .financial statements: Examples. of surfs) estimates: include, useful lives of provisions for doubt-: debts/advances, deferred tax etc. Actual results could differ from those estimates, such difference is. recognized in the period/s in which results are known /materialized.

b) The accounts are prepared on the basis of going concern under historical cost convention as also accrual basis and in accordance with Accounting Standards referred to in Section 21t{3C) of the Companies Act 1955, which have been pranced by the Companies (Accounting Standards) Rules 20C6, and the relevant provisions of the Companies Act. 1956.

c) Stock in Trade is valued at Cost or Market Value, whichever is lower:

d) Long term Investments are carried at cost less provisions, if any, for permanent diminution in value of such investment. No provision is considered necessary for temporary; .dominate. in value of such investments.

e) Current Tax is the amount of tax payable on the taxable income for the year as determined in accordance with the provision of Income 1 ax Act, 1S61

f) No DTA / DTL is necessary in this year.

in view of smallness of liability and uncertainty, retirement benefit have not been provided for as per AS 15.

h) If internal I external indications suggest that an asset of the company may be impaired, the recoverable amount of asset / cash generating asset is determined on the Balance Sheet date and if it is less than its carrying amount, the carrying amount of the asset / cash generating unit is reduced to the said recoverable amount. The recoverable amount is measured as the higher of net selling price and value In use of such assets/cash generating unit, which is determined by the present value of the estimated future Cash Flows. As at the Balance Sheet date, there was no such indication.

i) Transcended to statutory reserves u/s (45 1C) of RBI Act amounting to Rs, Nil for current year,

j) The Company has no other Segment except that of securities. Therefore, segment accounting as of AS-17 is not required,

k) income and expenditure pertaining to poor period, wherever material, are disclosed separately.

l) The Company recognized as Provisions, the liabilities being present obligations arising from past events, the settlement of which is expected to result in an outflow of resources and which can be measured only by using a substantial degree of estimation,

m) Contingent Assets are neither recognized nor disclosed.

n) Contingent Liability is disclosed by way of note to the financial statements after careful evaluation by the management of the fact and legal aspect of the matters involved.


Mar 31, 2012

A) The financial statements for the year ended 31/3/2011 had been prepared as per the then applicable pre-revised Schedule VI of the Companies, Act 1956.Consequent to the notification of Revised Schedule VI under Companies Act 1956, financial statements for the year ended 31/03/2012 are prepared as per Revised Schedule VI. Accordingly the previous years figures have also been reclassified / regrouped to conform to this year''s classifications. The adoption of Revised Sechdule VI does not impact recognition and measurement principles followed for the preparation of the financial statements.

b) The preparation of the financial statements in conformity with generally accepted accounting principles requires management to make estimate and assumptions to be made that affect the reported amounts of revenue and expenses during the reporting period, the reported amount of assets & liabilities and the disclosures relating to the contingent liabilities on the date of the financial statements. Examples of such estimates include useful lives of provisions for doubtful debts/advances, deferred tax etc. Actual results could differ from those estimates, such difference is recognised in the period/s in which results are known / materialised.

c) The accounts are prepared on the basis of going concern under historical cost convention as also accrual basis and in accordance with Accounting Standards referred to in Section 211 (3C) of the Companies Act 1956, which have been precribed by the Companies (Accounting Standards) Rules 2006, and the relevant provisions of the Companies Act. 1956.

d) Stock in Trade is valued at Cost or Market Value, whichever is lower.

e) Long term Investments are carried at cost less provisions, if any, for permanent diminution in value of such investment. No provision is considered necessary for temporary diminution in value of such investments.

f) Current Tax is the amount of tax payable on the taxable income for the year as determined in accordance with the provision of Income Tax Act, 1961

g) No DTA / DTL is necessary in this year.

h) In view of smallness of liability and uncertainty, retirement benefit have not been provided for as per AS 15.

i) If internal / external indications suggest that an asset of the company may be impaired, the recoverable amount of asset I cash generating asset is determined on the Balance Sheet date and if it is less than its carrying amount, the carrying amount of the asset / cash generating unit is reduced to the said recoverable amount. The recoverable amount is measured as the higher of net selling price and value of such assets / cash generating unit, which is determined by the present value of the estimated future Cash Flows. As at the Balance Sheet date, there was no such indication.

j) Transferred to statutory reserved u/s (45 IC) of RBI Act amounting to Rs.75,743/- for current year, where as Rs.16,745,984/- pertains to prior years.

k) The Company has no other Segment except that of securities. Therefore, segment accounting as of AS-17 is not required.

I) Income and expenditure pertaining to prior period , wherever material, are disclosed separately.

m) The Company recognised as Provisions, the liabilities being present obligations arising from past events, the settlement of which is expected to result in an outflow of resources and which can be measured only by using a substantial degree of estimation.

n) Contingent Assets are neither recognised nor disclosed.

o) Contingent Liability is disclosed by way of note to the financial statements after careful evaluation by the management of the fact and legal aspect of the matters involved.


Mar 31, 2010

A) The Company follows the Accrual System of accounting for ail Income, Expenditure, Assets & Liabilities.

b) Stock in Trade is valued at Cost or Market Value, whichever is lower.

c) Long term Investments are carried at cost less provisions, if any, for permanent domination in value of such investment.

d) Fixed Assets are stated at Cost less Depreciation.

e) Depreciation on Fixed Assets is provided for as per the Straight Line Method on pro-rata basis at the rates and in the manner prescribed by the Schedule XTV of the Companies Act, 1986.

f) Current Tax is the amount of tax payable on toe taxable income for the year as determined in accordance with the provision of Income Tax Act, 1961

g) Deferred Tax is recognised, on timing differences, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one-or more subsequent period. Deferred tax assets/ Liabilities in respect of depreciation on fixed assets is recognised if there is reasonable certainty that there will be sufficient future taxable income to realise such assets / liabilities. Moreover deferred tax is shown net of deferred tax assets and deferred tax liabilities. Dep as per I tax Rs 1,304,900/- Dep as per Co R» 1,546,012/- BalRs 241,112- DTA= "33.99% 81.954/-.

h) h view of smallness of liability and uncertainty, retirement benefit have not been provided for as per AS 15.

i) If internal / external indications suggest that an asset of the company may be impaired, the recoverable amount of asset / cash generating asset is determined on the Balance Sheet date and if it is less than its carrying amount, the carrying amount of the asset / cash generating unit is reduced to the said recoverable amount The recoverable amount is measured as the higher of net selling price and value in use of such assets / cash generating unit, which is determined by the present value of the estimated future Cash Flows. As at the Balance Sheet date, there was no such indication.

j ) The Company has no other Segment except that of securities. Therefore, segment accounting as of AS-17 is not required.

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