Mar 31, 2014
A. FIXED ASSETS AND DEPRECIATION
Fixed Assets are identified as "Tangible" and "Intangible".
Tangible assets are further divided into assets for own use and Leased
Assets.
All the fixed assets including assets given on lease are stated in
Balance Sheet at cost of acquisition, inclusive of expenses relating to
acquisition.
In respect of leased assets, depreciation is provided in accordance
with the Guidance Note issued by the Institute of Chartered Accountants
of India whereby it is ensured that full depreciation is provided over
the primary lease period.
In Accounting for leases, the Company has applied the
recommendations of the revised Guidance Note of the Institute of
Chartered Accountants of India and accordingly Lease Equalization
Adjustments have been made in the Statement of Profit & Loss and net
book value of Leased Assets.
In respect of other assets, depreciation is provided on Reducing
Balance Method in accordance with Schedule XIV to the Companies Act,
1956 or in case of Revalued Assets, if any, depreciation is determined
based on Balance life of revalued asset, determined by the valuer.
The repossessed leased assets are valued at estimated realizable
value.
Assets not likely to realize any significant value are adequately
provided for or written off.
B. INVESTMENTS
Long term Investments are stated at cost subject to adjustment, if any,
for permanent diminution in value. Income there from is credited to
revenue on accrual basis.
C. STOCK-IN-TRADE:
SHARES & SECURITIES
Stock-in-trade of Shares & Securities of each category on an
aggregate is valued at cost or market value (break-up value in case of
unquoted shares) whichever is lower as required by the RBI Guidelines
for Non-Banking Financial Companies.
D. CURRENT ASSETS
Trade Receivable and Loans & Advances are stated at the amount to
be received net after deducting the amount required to be provided as
NPA as per RBI guidelines and/ or provision for dues doubtful of
recovery.
E. STOCK ON HIRE
"Stock on Hire", secured against Hire Purchase Contracts, represents
the principal amount and the unmetered finance charges in respect of
future installments.
F. INCOME
The Company accrues hire charges, lease rentals and service charges
arising out of Hire Purchase/ Lease agreements as per the terms of
agreements entered into with hirers & lessee except in case of
Non-performing Assets.
Income from Bill Discounting, if any, is accounted
for, on time accrual basis.
Interest on Inter Corporate Deposits, Investments and overdue
installments / rentals is accrued to the extent of certainty of
collection.
G. GRATUITY & LEAVE ENCASHMENT
Liability on account of Gratuity and Leave Encashment (if any) are
provided for.
H. EXPENSES
All the expenses are accounted on accrual basis unless otherwise
stated.
In compliance with Guidelines for Prudential Norms for income
recognition/provisioning issued by Reserve Bank of India from time to
time, the Company has not accrued income in respect of Non-Performing
Assets as defined therein. The Company has made adequate provisions in
respect of such assets in terms of these Guidelines.
Mar 31, 2012
A FIXED ASSETS AND DEPRECIATION
- Fixed Assets are identified as "Tangible" and "Intangible".
Tangible assets are further divided into assets for own use and Leased
Assets.
- All the fixed assets including assets given on lease are stated in
Balance Sheet at cost of acquisition, inclusive of expenses relating to
acquisition.
- In respect of leased assets, depreciation is provided in accordance
with the Guidance Note issued by the Institute of Chartered Accountants
of India whereby it is ensured that full depreciation is provided over
the primary lease period.
- In Accounting for leases, the Company has applied the
recommendations of the revised Guidance Note of the Institute of
Chartered Accountants of India and accordingly Lease Equalization
Adjustments have been made in the Statement of Profit & Loss and net
book value of Leased Assets.
- In respect of other assets, depreciation is provided on Reducing
Balance Method in accordance with Schedule XIV to the Companies Act,
1956 or in case of Revalued Assets, if any, depreciation is determined
based on Balance life of revalued asset, determined by the valuer.
- The repossessed leased assets are valued at estimated realizable
value.
- Assets not likely to realize any significant value are adequately
provided for or written off.
B INVESTMENTS
- Long term Investments are stated at cost subject to adjustment, if
any, for permanent diminution in value. Income there from is credited
to revenue on accrual basis.
C STOCK-IN-TRADE:
SHARES & SECURITIES
- Stock-in-trade of Shares & Securities of each category on an
aggregate is valued at cost or market value (break-up value in case of
unquoted shares) whichever is lower as required by the RBI Guidelines
for Non-Banking Financial Companies.
D CURRENT ASSETS
- Trade Receivable and Loans & Advances are stated at the amount to
be received net after deducting the amount required to be provided as
NPA as per RBI guidelines and/ or provision for dues doubtful of
recovery.
E STOCK ON HIRE
- "Stock on Hire", secured against Hire Purchase Contracts,
represents the principal amount and the unmetered finance charges in
respect of future installments.
F INCOME
- The Company accrues hire charges, lease rentals and service charges
arising out of Hire Purchase/Lease agreements as per the terms of
agreements entered into with hirers & lessees except in case of
Non-performing Assets.
- Income from Bill Discounting, if any, is accounted for, on time
accrual basis.
- Interest on Inter Corporate Deposits, Investments and overdue
installments / rentals is accrued to the extent of certainty of
collection.
G GRATUITY & LEAVE ENCASHMENT
- Liability on account of Gratuity and Leave Encashment (if any) are
provided for.
H EXPENSES
- All the expenses are accounted on accrual basis unless otherwise
stated.
- In compliance with Guidelines for Prudential Norms for income
recognition/provisioning issued by Reserve Bank of India from time to
time, the Company has not accrued income in respect of Non- Performing
Assets as defined therein. The Company has made adequate provisions in
respect of such assets in terms of these Guidelines.
Mar 31, 2011
A. FIXED ASSETS AND DEPRECIATION
All the fixed assets including assets given on lease are stated in
Balance Sheet at cost of acquisition, inclusive of expenses relating to
acquisition, except the assets revalued. Assets if revalued are stated
at fair market value on the date of Revaluation certified by Government
Approved Valuer. Details of assets revalued, if any, are given
separately.
In respect of leased assets, depreciation is provided in accordance
with the Guidance Note issued by the Institute of Chartered Accountants
of India whereby it is ensured that full depreciation is provided over
the primary lease period.
In Accounting for leases, the Company has applied the recommendations
of the revised Guidance Note of the Institute of Chartered Accountants
of India and accordingly Lease Equalization Adjustments have been made
in the Profit & Loss Account and net book value of Leased Assets.
In respect of other assets, depreciation is provided on Reducing
Balance Method in accordance with Schedule XIV to the Companies Act,
1956 or in case of Revalued Assets, if any, depreciation is determined
based on Balance life of revalued asset, determined by the valuer.
B INVESTMENTS
Long term Investments are stated at cost subject to adjustment, if any,
for permanent diminution in value. Income there from is credited to
revenue on accrual basis.
C STOCK-IN-TRADE:
SHARES & SECURITIES
Stock-in-trade of Shares & Securities of each category on an aggregate
is valued at cost or market value (break-up value in case of unquoted
shares) whichever is lower as required by the RBI Guidelines for
Non-Banking Financial Companies.
REAL ESTATE
Real Estate are valued at cost or realizable value whichever is less.
Real Estate converted from Fixed
Asset to Stock in Trade is valued at the Fair Market Value at the time
of conversion together with cost of additions subsequent to revaluation
or the market value on the date of Balance Sheet whichever is less.
D REPOSSESSED ASSETS
The repossessed assets are valued at estimated realizable value.
E SUNDRY DEBTORS
Sundry Debtors, including overdue are stated at the amount to be
received net after deducting the amount required to be provided as NPA
as per RBI guidelines and/ or provision for debtors doubtful of
recovery.
F STOCK ON HIRE
Stock on HireÃ, secured against Hire Purchase Contracts, represents the
principal amount and the unmetered finance charges in respect of future
installments.
G INCOME
The Company accrues hire charges, lease rentals and service charges
arising out of Hire Purchase/Lease agreements as per the terms of
agreements entered into with hirers & lessees except in case of
Non-performing Assets.
Income from Bill Discounting, if any, is accounted for, on time accrual
basis.
Interest on Inter Corporate Deposits, Investments and overdue
installments / rentals is accrued to the extent of certainty of
collection.
H GRATUITY & LEAVE ENCASHMENT
Liability on account of Gratuity and Leave Encashment (if any) are
charged to revenue on the basis of actuarial valuation.
I EXPENSES
All the expenses are accounted on accrual basis unless otherwise
stated.
In compliance with Guidelines for Prudential Norms for income
recognition/provisioning issued by Reserve Bank of India from time to
time, the Company has not accrued income in respect of Non-Performing
Assets as defined therein. The Company has made adequate provisions in
respect of such assets in terms of these Guidelines.
Mar 31, 2010
A. FIXED ASSETS AND DEPRECIATION
- All the fixed assets including assets given on lease are stated in
Balance Sheet at cost of acquisition, inclusive of expenses relating to
acquisition, except the assets revalued. Assets if revalued are stated
at fair market value certified by Government Approved Valuer. Details
of assets revalued, if any, are given separately.
- In respect of leased assets, depreciation is provided in accordance
with the Guidance Note issued by the Institute of Chartered Accountants
of India whereby it is ensured that full depreciation is provided over
the primary lease period.
- In accounting for leases, the Company has applied the recommendations
of the revised Guidance Note of the Institute of Chartered Accountants
of India and accordingly Lease Equalization Adjustments have been made
in the Profit & Loss Account and net book value of Leased Assets.
- In respect of other assets, depreciation is provided on Straight Line
Method in accordance with Schedule XIV to the Companies Act, 1956 or in
case of Revalued Assets, if any, depreciation is determined based on
Balance life of revalued asset, determined by the valuer.
B INVESTMENTS
- Long term Investments are stated at cost subject to adjustment, if
any, for permanent diminution in value. Income there from is credited
to revenue on accrual basis.
C STOCK-IN-TRADE :
SHARES & SECURITIES
- Stock-in-trade of Shares & Securities of each category on an
aggregate is valued at cost or market value (break-up value in case of
unquoted shares) whichever is lower as required by the RBI Guidelines
for Non-Banking Financial Companies.
REAL ESTATE
- Real Estate are valued at cost or realizable value whichever is less.
Real Estate converted from Fixed Asset to Stock in Trade is valued at
the Fair Market Value at the time of conversion together with cost of
additions subsequent to revaluation or the market value on the date of
Balance Sheet whichever is less.
D REPOSSESSED ASSETS
- The repossessed assets are valued at estimated realizable value.
E SUNDRY DEBTORS
- Sundry Debtors, including overdue are stated at the amount to be
received net after deducting the amount required to be provided as NPA
as per RBI guidelines and/or provision for debtors doubtful of
recovery.
F STOCK ON HIRE
- "Stock on Hire", secured against Hire Purchase Contracts, represents
the principal amount and the unmatured finance charges in respect of
future installments.
G INCOME
- The Company accrues hire charges, lease rentals and service charges
arising out of Hire Purchase/Lease agreements as per the terms of
agreements entered into with hirers & lessees except in case of
Non-performing Assets.
- Income from Bill Discounting, if any, is accounted for, on time
accrual basis.
- Interest on Inter Corporate Deposits, Investments and overdue
installments / rentals are accrued to the extent of certainty of
collection.
H GRATUITY & LEAVE ENCASHMENT
- Liability on account of Gratuity and Leave Encashment (if any) are
charged to revenue on the basis of actuarial valuation.
L EXPENSES
- All the expenses are accounted on accrual basis unless otherwise
stated.
- In compliance with Guidelines for Prudential Norms for income
recognition/provisioning issued by Reserve Bank of India from time to
time, the Company has not accrued income in respect of Non- Performing
Assets as defined therein. The Company has made adequate provisions in
respect of such assets in terms of these Guidelines.