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