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Notes to Accounts of Pawansut Holdings Ltd.

Mar 31, 2015

1. BACKGROUND:

Pawansut Holdings Limited ('the Company') was incorporated on 06th December, 1984 having CIN L65929DL1984PLC019506. The PAN of the Company is AAACP6964H. The Company is maintaining its Bank Account with ICICI Bank Ltd. The company is involved in the Non- Banking Finance Business activities.

2. SEGMENT REPORTING:

(a) The company's sole business segment is loan and investment and the geographical segment is India. Consequently the need for separate disclosure as required under Accounting Standard 17 segment reporting is not considered relevant.

3. Information related to Micro, small and Medium Enterprises, as defined in the Micro, Small and Medium Enterprises Development Act, 2006 (MSME Development Act). There is no due to small scale Industrial undertaking which are required to be disclosed as per schedule III to the Companies Act, 2013.

4. Disputed liabilities & claims as treated as contingent liabilities. Claims against the Company other than assessment proceedings not acknowledged as debts Rs. Nil (P.Y. Nil)

5. Pursuant to provisions of the Companies Act, 2013 during the year, the company is not required to transfer an amount due for transfer to Investors Education Protection Fund.

6. The debit & credit balances outstanding in the accounts of various parties are subject to confirmation by the parties concerned.

7. Figures for previous year have been regrouped and rearranged wherever considered necessary.

8. In the opinion of the management, the current assets, loans and advances have the value, which on realization in the ordinary course of business would at least equal to that at which the same have been stated in the balance sheet.

9. No interest has been paid for long term borrowings.

10. Being an NBFC Company, the company should charge interest from all the parties. It has been noticed that the company is not charging interest from all the parties.

11. According to our opinion Service Tax is applicable on Reverse Charge Mechanism on Travelling Expenses by Taxi incurred by company through non corporate assessee. The Service Tax has not been paid for this.

12. RELATED PARTY DISCLOSURES:

Details of disclsures as required by " Accounting Standard (AS)-18 on Related Party Disclosure" are as under:-

a) Name of related parties and description of relationship:

Key Management Personnel

Shri Laxman Singh Satyapal Managing Director

Shri Pradeep Kumar Jindal Director

Shri Pawan Kumar Poddar Director

Shri Uttam Kumar Srivastava Director

Ms. Shweta Gupta Company Secretary

Shri Vinit Kumar Sharma CFO

b) Related party transactions:

Name Nature Closing Balance

Delta Leasing and Finance Ltd. Loan Accepted Rs. 55,79,081/-

c) As per the information available following amount has been paid to related parties:

Name Nature of payment Amount

Laxman Singh Satyapal Salary Rs. 2,64,000/-

13. Disclosure of details as required by para 13 of Non- Banking Financial (Non - Companies Prudential Norms (Reserve Bank) Directions, 2007)


Mar 31, 2014

BACKGROUND AND PRINCIPAL ACTIVITIES:

Pawansut Holdings Limited (The Company) was incorporated on 06th December, 1984 having CIN L65929DL1984PLC019506. The PAN of the Company is AAACP6964H. The Company is maintaining its Bank Account with ICICI Bank Ltd. The company is involved in the Non-Banking Finance Business activities.

1. The company has adopted the Accounting Standards 22 "Accounting for taxes on Income" issued by the Institute of Chartered Accountants of India. Provision for current tax is made after taking into consideration, benefits admissible under the provisions of Income Tax Act, 1961.

2. Disputed liabilities & claims are treated as contingent liabilities. Claims against the Company other than assessment proceedings not acknowledged as debts Rs. Nil (P.Y. N.A.)

3. The Company''s sole business segment is loan and investment and the geographical segment is India. Consequently the need for separate disclosure as required under Accounting Standard 17 segment reporting is not considered relevant.

4. I. The Company has closing stock at Market Value or Cost whichever is less.

II. There is no amount of Capital Work in Progress.

7. Pursuant to provisions of section 205C of the Companies Act, 1956 during the year, the Company is not required to transfer any amount due for transfer to Investors Education Protection fund.

8. The debit & credit balances outstanding in the accounts of various parties are subject to confirmation by the parties concerned.

9. Figures for previous year have been regrouped and rearranged wherever considered necessary.

10. In the opinion of the management, the current assets, loans and advances have the value, which on realization in the ordinary course of business would at least be equal to that at which the same have been stated in the Balance Sheet.

11. The company has not received any intimation from "suppliers" regarding their status under Micro Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid/payable as required under the said Act have not been furnished.

12. No interest has not been paid for long term borrowings.

13. An amount of Rs. 35, 26,509/- is due to Appline Bio-Tech Ltd. This amount is outstanding for more than One Year. Also, Rs. 69,58,000/- is due to Emerald Financial Consultant and Rs. 40,00,000/- is due from Inspire2Aspire Business Solutions Pvt. Ltd. All these amount are outstanding for more than one year.

14. Being an NBFC Company, the company should charge interest from all the parties. It has been noticed that the company is not charging interest from all the parties.

15. According to our opinion Service Tax is applicable on Reverse Charge Mechanism on Traveling Expenses by taxi incurred by company through non corporate assessee. The Service Tax has not been paid for this.

16. The Company was not able to provide Balance Confirmations of many Parties. Thus, Balances provided by the Company had to be relied.

17. RELATED PARTY DISCLOSURES

Details of disclosures as required by "Accounting Standard (AS)-18 on related party disclosure" are as under

a) Names of related parties and description of relationship :

Key Management Personal

Laxman Singh Satyapal Managing Director

Pradeep Kumar Jindal Director

Pawan Kumar Poddar Director

Uttam Kumar Srivastava Director

Shweta Gupta Company Secretary


Mar 31, 2013

BACKGROUND AND PRINCIPAL ACTIVITIES:

Pawansut Holdings Limited (The Company) was incorporated on 06th December, 1984 having CIN L65929DL1984PLC019506. The PAN of the Company is AAACP6964H. The Company is maintaining its Bank Account with ICICI Bank Ltd. The company is involved in the Non- Banking Finance Business activities.

1. The company has adopted the Accounting Standards 22 "Accounting for taxes on Income" issued by the Institute of Chartered Accountants of India. Provision for current tax is made after taking into consideration, benefits admissible under the provisions of Income Tax Act, 1961.

2. Disputed liabilities & claims are treated as contingent liabilities. Claims against the Company other than assessment proceedings not acknowledged as debts Rs. Nil (P.Y. N.A.)

3. The Company''s sole business segment is loan and investment and the geographical segment is India. Consequently the need for separate disclosure as required under Accounting Standard 17 segment reporting is not considered relevant.

4. I. The Company has closing stock at Market Value or Cost whichever is less.

II. There is no amount of Capital Work in Progress.

5. Information pursuant to para 3, 4c and 4d of part II of schedule VI to the companies Act, 1956. (to the extent applicable).

a) Value of imports on CIF basis Nil Nil

b) Expenditure in foreign currency Nil Nil

c) Value of imported raw materials Nil Nil

d) Remittance on account of Dividend to non-resident Shareholders Nil Nil

e) Earning in Foreign Currency Nil Nil

6. Pursuant to provisions of section 205C of the Companies Act, 1956 during the year, the Company is not required to transfer any amount due for transfer to Investors Education Protection fund.

7. The debit & credit balances outstanding in the accounts of various parties are subject to confirmation by the parties concerned.

8. Figures for previous year have been regrouped and rearranged wherever considered necessary.

9. In the opinion of the management, the current assets, loans and advances have the value, which on realization in the ordinary course of business would at least be equal to that at which the same have been stated in the Balance Sheet.

10. The company has not received any intimation from "suppliers" regarding their status under Micro Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid/payable as required under the said Act have not been furnished.

11. No interest has not been paid for long term borrowings.

12. An amount of Rs. 35,26,509/- is due to Appline Bio-Tech Ltd. This amount is outstanding for more than One Year.

13. Being an NBFC Company, the company should charge interest from all the parties. It has been noticed that the company is not charging interest from all the parties.

14. The Bank Statement of State Bank of India (Bhagwan Krishan Investment and Trading Co. Pvt. Ltd.) is not available with the company hence Balance given by company has been accepted.


Mar 31, 2012

1 Information related to Micro, Small and Medium Enterprises, as defined in the Micro, Small and Medium Enterprises Development Act, 2006 (MSME Development Act). There is no due to small scale industrial undertaking which are required to be disclosed as per schedule VI to the Comapnies Act,1956.

2 RELATED PARTY DISCLOSURES:

Details of disclosures as required by "Accounting Standard (AS)- 18 on Related Party Disclosure" are as under:- a) Names of related parties and description of relationship: Key Management Personnel

Shri Pradeep Kumar Jindal Director

Shri Laxman Singh Satyapal Director

Shri Pawan Kumar Poddar Director

Shri Uttam Kumar Srivastava Director

Ms. Yachika Bhatia Company Secretary

b) Related party transactions:

As per the information available it seems that there were no related party transactions.


Mar 31, 2011

1. The company has adopted the Accounting Standards 22 “Accounting for taxes on Income'' issued by the Institute of Chartered Accountants of India. Provision for current tax is made after taking into consideration, benefits admissible under the provisions of Income Tax Act, 1961.

2. Disputed liabilities & claims are treated as contingent liabilities. Claims against the Company other than assessment proceedings not acknowledged as debts Rs. Nil (P.Y. N.A.)

3. Disclosure of details pertaining to related party transactions in terms of accounting standard 18 – Related party disclosures issued by the Institute of Chartered Accountants of India.

(I) List of Related Parties:- Key Managerial Personnel:- (i) Laxman Singh Satyapal, Director (ii) Pradeep kumar Jindal, Director (iii) Pawan Kumar Poddar, Director (iv) Uttam Kumar Srivastava , Director

4. The Company''s sole business segment is loan and investment and the geographical segment is India. Consequently the need for separate disclosure as required under Accounting Standard 17 segment reporting is not considered relevant.

5. I. The Company has closing stock at Market Value or Cost whichever is less. II. There is no amount of Capital Work in Progress.

6. Additional information as required under part-IV of schedule VI of companies Act, 1956 enclosed.

7. Pursuant to provisions of section 205C of the Companies Act, 1956 during the year, the Company is not required to transfer any amount due for transfer to Investors Education Protection fund.

8. The debit & credit balances outstanding in the accounts of various parties are subject to confirmation by the parties concerned.

9. Figures for previous year have been regrouped and rearranged wherever considered necessary.

10. In the opinion of the management, the current assets, loans and advances have the value, which on realization in the ordinary course of business would at least be equal to that at which the same have been stated in the Balance Sheet.

11. The company has not received any intimation from “suppliers'' regarding their status under Micro Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid/payable as required under the said Act have not been furnished.

12. There is no whole time Company Secretary during the year.


Mar 31, 2010

1. Disclosure of details pertarning to related party transactions in terms of accounting standard IB - Related j-arty disclosures issued by the Instate of Chartered Accountants of India,

[I) List of Related Partles:-

(a) Key Managerial Personneh-

(i) tax man Singh Sa-tyapal, Director (li) Predeep kumar Jindal Director (Hi) Meera MLshrar Director

(b) Associates!''

were an amount of Rs. 98,49,379/- payable to Mad hu math Infrastructure Private Limited during the year Rs. 43,10,00a/- was paid & Rs. 24,000/- was received. The Closing Balance is Rs. 55r63r37S/-t

An amount of Rs. 15,00,000/- has been advanced to Hajlma Resorts Limited- This loan is repayable on demand but no Interest has been charged on this loan,

2. The Company''s sole business segment is loan and Investment and the geographical segment is India. Consequently the need for separate disclosure as required under Accounting Standard 17 segment reporting Is not considered relevant.

I. The Company has dosing stock at Market Value or Cost whichever Is less. H. There is no amount or Capital Work in Progress.

3. Additional information as required under part-lV of schedule VI of companies Act, 1956 enclosed,

4. Pursuant to provisions of section 20SC of the Companies Act, 1956 during the yearH the Company Is not required to transfer any amount due for transfer to Investors Education Protection fund.

5. The debit ft credit balances outstanding in the accounts of various parties are subject la confirmation by the parties concerned,

In the op.nlon of the management, the current assets, loans ana advances n*ve «* „aluer which on realization In the ordinary course of business would at least be equal tu that at which the same have been stated in the Balance Sheet,

6. The company has not received any intimation from "suppers" regarding their status under Micro Small and Medium Enterprises Development Act, 2006 and hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid/payable as required under the said Act have not been furnished.


Mar 31, 2009

1. Disclosure of details pertaining to related party transactions in terms of accounting standard 18 - Related party disclosures issued by the Institute of Chartered Accountants of India.

(I) List of Related Parties :

(a) Key Managerial Personnel

(i) Laxman Singh Satyapal, Director (ii) Pradeep Kumar Jindal, Director (iii) Meera Mishra, Director

There were no transactions with the related parties during the year.

Note: Related party relationship is as identified by the company and relied upon by the auditors.

2. The company''s sole business segment is loan and investment and the geographical segment is India. Consequently the need for separate disclosure as required under Accounting standard 17 segment reporting is not considered relevant.

3. There are no dues due to small scale Industrial undertaking which are required to be disclosed as per schedule VI to the Companies Act, 1956.

4. Pursuant to provisions of section 205C of the Companies Act, 1956 during the year, the Company is not required to transfer any amount due for transfer to Investors Education Protection fund.

5. Additional information as required under part IV of schedule VI of companies Act, 1956 enclosed.

6. Previous figures have been regrouped and reclassified whenever necessary.

7. Previous year figures have been regrouped/rearranged and rounded off to nearest rupees wherever considered necessary.


Mar 31, 2008

1. The company has recognised deferred tax Assets of Rs. 8,845/- for the year ended 31st March 2008. The Components of deferred tax liability is as under: -

2. Disclosure of details pertaining to related party transactions in terms of accounting standard 18 - Related party disclosures issued by the Institute of Chartered Accountants of India.

(I) List of Related Parties :

(a) Key Managerial Personnel

(i) Laxman Singh Satyapal, Director (ii) Pradeep Kumar Jindal, Director (iii) Meera Mishra, Director

There were no transactions with the related parties during the year.

Note: Related party relationship is as identified by the company and relied upon by the auditors.

3. The company’s sole business segment is loan and investment and the geographical segment is India. Consequently the need for separate disclosure as required under Accounting standard 17 segment reporting is not considered relevant.

4. There are no dues due to small scale Industrial undertaking which are required to be disclosed as per schedule VI to the Companies Act, 1956.

5. Pursuant to provisions of section 205C of the Companies Act, 1956 during the year, the Company is not required to transfer any amount due for transfer to Investors Education Protection fund.

6. Additional information as required under part IV of schedule VI of companies Act, 1956 enclosed.

7. Previous figures have been regrouped and reclassified whenever necessary.

8. GENERIC NAMES OF THREE PRINCIPLAL PRODUCTS/SERVICES OF COMPANY

(As per monetary terms)

Item Code No. (ITC Code) N. A.

Product Description:

9. Previous year figures have been regrouped/rearranged and rounded off to nearest rupees wherever considered necessary.

 
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