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Notes to Accounts of Oracle Credit Ltd.

Mar 31, 2015

1 Corporate information

Oracle Credit Limited is a public company m India and incorporated under the provisions of the Companies Act. 2013 (erstwhile Companies Act, 1956). The company is engaged in the business of investment and finance.

2 Basis of preparation

These financial statements have been prepared in accordance with the generally accepted accounting principles in India under the historical cost convention on accrual basis. These financial statements have been prepared to comply in all material aspects with the accounting standards notifiedunder the Companies (Accounting Standards) Rules. 2006,(as amended) and the other 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 put in the Schedule IT to the Companies Act, 2013

3. Terms/ rights and restrictions attached to equity shares

The company has only one class of equity shares having a par value of INR tO per share Each holder of equity share is entitled to one vote per share The company declares and pays dividend in Indian, rupees The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting

In the event of liquidation of the company, the holders of equity shares will be entitled to receive assets of the company, after distribution of all preferential amounts. The distribution will be- in proportion to the number of equity shares held by the shareholders.

4. During the current year,there is deferred tax asset on account of depreciation.Losses/ B/f Losses Thus appropriate provision regarding it has been treated in the books as per AS-22. in view of the fact that it is certain that sufficient taxable income will be available against which deferred tax asset can be realized.

5. In the opinion of the Hoard of Directors , the current assets, loans and advances have a value on realization at least equal to the amount at which they are stated in the Balance Sheet and provision for all known liabilities has been made.

6. The entire operation of the company relates to only one segment investment and finance Hence as per AS-17 issued by ICAI , there is no Reportable Segment.

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

8. Schedules 1 to 25 arc annexed and forming part of balance sheet as at 31.3.2015 and Profit and loss accnunt for the year ended an that date


Mar 31, 2014

1. Corporate information

Oracle Credit Limited is a public company in India and incorporated under the provisions of the Companies Act. 1956 The company is engaged in investment and finance

2. Basis of preparation

These financial statements have been prepared in accordance with the generally accepted accounting principles in India under the historical cost convention on accrual basis. These financial statements have been prepared to comply in all material aspects with the accounting standards notified under the Companies (Accounting Standards) Rules. 2006,(as amended) and the other relevant provisions of the Companies Act, 1956 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 Schedule VI to the (. ompames Act. 1956

3. Terms/ rights and restrictions attached to equity shares

The company has only one class of equity shares having a par value of INR 10 per share. Each holder of equity share is entitled to one vote per share. The company declares and pays dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the company, the holders of equity shares will be entililed to receive assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

4. AS-22. in view of the fact that it is not certain that sufficient taxable income will be available against which deferred tax asset can be realised

5. In the opinion of the Board of Directors , the current assets. loans and advances have a value on realisation at least equal to the amount at which they are stated in the Balance Sheet and provision for all known liabilities has been made

6. The entire operation of the company relates to only one segment investment and finance. Hence as per AS-17 issued by ICAI . there is no Reportable Segment

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

8. Schedules I to 25 are annexed and forming part of balance sheet as at 31 3,2014 and Profit and Loss account for the year ended on that date


Mar 31, 2013

1. Corporate information

Oracle Credit Limited is a public company in India and incorporated under the provisions of the Companies Act. 1956 The company is engaged in investment and finance

2. Basis of preparation

These financial statements have been prepared in accordance with the generally accepted accounting principles in India under the historical cost convention on accrual basis. These financial statements have been prepared to comply in all material aspects with the accounting standards notified under the Companies (Accounting Standards) Rules. 2006,(as amended) and the other relevant provisions of the Companies Act, 1956 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 Schedule VI to the (. ompames Act. 1956

3. Terms/ rights and restrictions attached to equity shares

The company has only one class of equity shares having a par value of INR 10 per share. Each holder of equity share is entitled to one vote per share. The company declares and pays dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the company, the holders of equity shares will be entililed to receive assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

4. AS-22. in view of the fact that it is not certain that sufficient taxable income will be available against which deferred tax asset can be realised

5. In the opinion of the Board of Directors , the current assets. loans and advances have a value on realisation at least equal to the amount at which they are stated in the Balance Sheet and provision for all known liabilities has been made

6. The entire operation of the company relates to only one segment investment and finance. Hence as per AS-17 issued by ICAI . there is no Reportable Segment

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

8. Schedules I to 25 are annexed and forming part of balance sheet as at 31 3,2014 and Profit and Loss account for the year ended on that date


Mar 31, 2012

1. Corporate information

Oracle Credit Limited is a public company in India and incorporated under the provisions of the Companies Act. 1956 The company is engaged in investment and finance

2. Basis of preparation

These financial statements have been prepared in accordance with the generally accepted accounting principles in India under the historical cost convention on accrual basis. These financial statements have been prepared to comply in all material aspects with the accounting standards notified under the Companies (Accounting Standards) Rules. 2006,(as amended) and the other relevant provisions of the Companies Act, 1956 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 Schedule VI to the (. ompames Act. 1956

3. Terms/ rights and restrictions attached to equity shares

The company has only one class of equity shares having a par value of INR 10 per share. Each holder of equity share is entitled to one vote per share. The company declares and pays dividend in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.

In the event of liquidation of the company, the holders of equity shares will be entililed to receive assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

4. AS-22. in view of the fact that it is not certain that sufficient taxable income will be available against which deferred tax asset can be realised

5. In the opinion of the Board of Directors , the current assets. loans and advances have a value on realisation at least equal to the amount at which they are stated in the Balance Sheet and provision for all known liabilities has been made

6. The entire operation of the company relates to only one segment investment and finance. Hence as per AS-17 issued by ICAI . there is no Reportable Segment

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

8. Schedules I to 25 are annexed and forming part of balance sheet as at 31 3,2014 and Profit and Loss account for the year ended on that date

 
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