Mar 31, 2018
NOTE : 2
NOTES TO ACCOUNTS FOR THE PERIOD ENDED 31st MARCH, 2018
As at 31 .03.2018 |
(Rs in lacs) As at 31 .03.2017 |
|
NOTE 2.1 |
||
SHARE CAPITAL |
||
Authorised |
||
50,00,00,000 Equity Shares of Rs. 107- each 50000.00 (Previous Year 50,00,00,000 Equity Shares of Rs.10/- each) |
50000.00 |
|
Issued, Subscribed and Paid Up: |
||
18,00,10,134 Equity Shares of Rs. 107- each fully paid up (Previous Year 18,00,10,134 Equity Shares of Rs.10/- each) |
18001 .01 |
18001.01 |
To know the Equity history, please see Report on Corporate Governance in previous pages. |
||
Promoter (Holding Company) |
||
Punjab National Bank -1 3,33,33,333 shares of Rs. 10/- each. 13333.33 (Previous Year 13,33,33,333 shares of Rs.10/-each) |
13333.33 |
|
(Shareholding %) |
74.07% |
74.07% |
Shareholding more than 5% details |
||
Punjab National Bank -1 3,33,33,333 shares of Rs. 10/- each. 1 333.33 (Previous Year 13,33,33,333 shares of Rs.10/-each) |
13333.33 |
|
(Share holding %) |
74.07% |
74.07% |
Reconciliation of the number of Shares: |
â |
|
Opening Number of shares (Face Value Rs 10 paid up) |
180010134 |
180010134 |
Add: Additions During the Year |
Nil |
Nil |
Less: Reduction During the Year |
Nil |
Nil |
Closing Number of shares (Face Value Rs 10 paid up) |
1800101 34 |
180010134 |
⢠Rights, preferences and restrictions attached to each class of shares including restrictions on the distribution of dividends and the repayment of capital:
The Company has only one class of equity shares having a par value of Rs 10 per share. Each holder of equity shares is entitled to one vote per share. Dividend distribution is for all equity shareholders who are eligible for dividend as on the record date. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining 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.
⢠Shares reserved for issue under options and contracts/commitments for the sale of shares/ disinvestment, including the terms and amounts: Nil (Previous Year: Nil)
⢠For the period of five years immediately preceding the date as at which the Balance Sheet is prepared:
(a) Aggregate number and class of shares allotted as fully paid-up pursuant to contract(s) without payment being received in cash: Nil (Previous Year: Nil)
(b) Aggregate number and class of shares allotted as fully paid-up by way of bonus shares: No. of Equity Shares 44992534 Current Year Nil (Previous Year: NIL)
(c) Aggregate number and class of shares bought back : Nil (Previous Year: Nil)
⢠Terms of any securities convertible into equity/preference shares issued along with the earliest date of conversion in descending order starting from the farthest such date : Nil (Previous Year: Nil)
⢠Calls unpaid (showing aggregate value of calls unpaid by Directors and Officers): Nil (Previous Year: Nil)
⢠Fnrfpitpri shares- Nil fPrpx/iniis Ypar Mih
As at 31.03.2018 |
(Rs in lacs) As at 31.03.2017 |
|||
NOTE 2.2 |
||||
RESERVES AND SURPLUS |
||||
General Reserves |
||||
Opening Balance |
9776.54 |
9776.54 |
9776.54 |
9776.54 |
Statutory Reserves (Created pursuant to Section 45IC of Reserve Bank of India Act, 1934) |
||||
Opening Balance |
23366.02 |
20022.54 |
||
Transfer from Statement of Profit and Loss |
731 .52 |
24097.54 |
3343.48 |
23366.02 |
Share Premium Account |
||||
Opening Balance |
2501.27 |
2501.27 |
2501.27 |
2501 .27 |
Market Fluctuation Reserve Account (Created pursuant to Board Resolution dated 9th January 2003) |
6300.00 |
1 |
6300.00 |
|
Capital Reserve Account |
||||
Opening Balance |
5988.96 |
3759.25 |
||
Transfer from Statement of Profit and Loss |
331 .08 |
6320.04 |
2229.71 |
5988.96 |
Surplus |
||||
Opening Balance |
23951 .20 |
12807.01 |
||
Add Current Year Profit |
3657.58 |
16717.38 |
||
Amount Available for Appropriation |
27608.78 |
29524.39 |
||
Appropriations: |
||||
-Capital Reserve |
331 .08 |
2229.71 |
||
- Statutory Reserve Fund |
731 .52 |
3343.48 |
||
- Dividend of FY 201 6-1 7 |
4500.25 |
- |
||
- Dividend Distribution Tax of FY 2016-17 |
916.15 |
6479.00 |
- |
5573.19 |
Balance Carried Forward to next year |
21129.78 |
23951 .20 |
||
TOTAL |
70125.17 |
71883.99 |
⢠A sum of Rs 731.52 lacs (P.Y. Rs 3343.48 lacs) (20 per cent of Profit After Tax) has been transferred to Statutory Reserve Fund as per RBI Guidelines.
⢠Net Profit (after tax) through sale of securities from HTM category amounting Rs 331.08 lacs (P.Y. Rs 2229.71 lacs) has been transferred to Capital Reserve Account as per RBI guidelines. The same will be utilized as per the regulatory guidelines.
⢠The Board of Directors, in its meeting held on January 9, 2003, had decided to build up Market Fluctuation Reserve over a period of time with the cap equal to paid up capital of the company. At the time of adoption of annual accounts each year, the Board may decide the quantum of amount to be transferred to this Reserve, if necessary. For the financial year 2017-18, Board of Directors had decided not to appropriate any amount to this reserve and the balance outstanding as on March 31, 2018 in this reserve is R 6300 lacs (P.Y. Rs 6300 lacs).
⢠Ministry of Corporate Affairs amended the Companies (Accounting Standards) Rules, 2006 on March 30, 2016 and vide its General Circular no. 4/2016 dated 27.04.2016 has clarified that the Companies (Accounting Standards) Amended Rules, 2016 would be applicable for preparation of accounts for accounting period commencing on or after the date of notification w.e.f. Financial Year 2016-17.
According to this amendment, the Proposed Dividend is not recognizable in the accounts as liability until it is approved.
Accordingly, the Proposed Final Dividend for FY 2016-17 of Rs 2.50 per equity share of Rs 10 each amounting to Rs 4500.25 lacs and Dividend Distribution Tax (DDT) amounting to Rs 916.15 lacs has been accounted for in the current financial year. The Board of Directors have recommended a Final Dividend of Rs 1 per equity share amounting to Rs 1800.10 lacs for FY 2017-18 after the balance sheet date. The same is subject to approval by the shareholders at the ensuing Annual General Meeting of the company and therefore Proposed Final Dividend of Rs 1800.10 lacs and DDT of Rs 370.02 lacs has not been recognized as a liability as at the balance sheet date.
⢠Net owned Funds (after deducting Deferred Tax and Intangible Assets) of the Company stands at Rs 88066.22 lacs (P.Y. Rs 89835.70 lacs) as against the minimum stipulated capital of Rs 25000.00 lacs. Return on Average Net Worth for the year 2017-18 stands at 4.11 per cent (P.Y. 20.51 per cent).
⢠Capital Adequacy Ratios as on June 30, 2017, September 30, 2017, December 31, 2017 and March 31, 2018 were 30.34 per cent (P.Y. 72.02 per cent), 31.94 per cent (P.Y. 82.14 per cent), 38.86 per cent (P.Y. 74.90 per cent) and 67.09 per cent (P.Y. 54.48 per cent) respectively as against RBI stipulation of 15 per cent.
(Rs in lacs) |
||
As at 31.03.2018 |
As at 31.03.2017 |
|
NOTE 2.3 |
||
LONG TERM PROVISIONS |
||
Provision for Employee Benefits |
119.40 |
104.93 |
(Details of provision for employee benefits are given in note 2. 31) |
(Rs in lacs) |
||||
NOTE 2.4 |
||||
SHORT TERM BORROWINGS |
||||
LOAN REPAYABLE ON DEMAND |
||||
⢠From Banks |
||||
(a) Secured Loans (Secured by way of pledge of Govt Securities) |
||||
Borrowings from RBI |
||||
- LAF Borrowing |
89000.00 |
I |
40000.00 |
|
- Term Repo Borrowing |
56500.00 |
- |
||
Pledge of Security Face Value- Rs 154579.40 lacs and Book Value Rs 154913.71 lacs (Previous. Year Face Value ? 40589.90 lacs and Book Value Rs 40782.00 lacs) |
||||
Refinance from RBI |
||||
Pledge of Security Face Value- Rs 35109.00 lacs and Book Value Rs 35110.15 lacs (Previous Year Face Value - NIL and Book Value -NIL) |
31831.00 |
177331.00 |
40000.00 |
|
(b) Unsecured Loans |
||||
Call and Notice Money Borrowing |
97800.00 |
90750.00 |
(Rs in lacs) |
||||
As at 31.03.2018 |
As at1 31.03.2017 |
|||
⢠From Others |
||||
(a) Secured Loans (Secured by way of pledge of Govt. Securities) |
||||
CBLO Borrowings from CCIL |
||||
Pledge of Security Face Value- Rs 92070.00 lacs and Book Value Rs 89833.95 lacs (Previous Year. Face Value Rs 25470.00 lacs and Book Value Rs 24965.94 lacs) |
|
82798.19 |
|
22634.77 |
Repo Borrowing |
||||
Pledge of Security Face Value- Rs 72148.00 lacs and Book Value Rs 71689.02 lacs (Previous Year. Face Value Rs 89392.00 lacs and Book Value Rs 91204.69 lacs) |
71336.21 |
154134.40 |
92584.47 |
115219.24 |
(b) Unsecured Loans |
||||
Inter Corporate Borrowing |
7600.00 |
- |
||
LOANS AND ADVANCES FROM RELATED PARTIES |
||||
(a) Unsecured Loans (Line of Credit) |
||||
From Punjab National Bank |
- |
105423.71 |
||
TOTAL LOANS REPAYABLE ON DEMAND |
436865.40 |
351392.95 |
||
TOTAL SECURED LOAN |
331465.40 |
155219.24 |
||
TOTAL UNSECURED LOAN |
105400.00 |
196173.71 |
During the year, Net Average and Peak borrowings in Call money amounted to Rs 187601.04 lacs and Rs 302025.00 lacs respectively. (Previous Year Net Average and Peak borrowings - Rs 135748.22 lacs and Rs 303050.00 lacs respectively)
For the year, average and peak leverage ratio stands at 6.15 and 8.29 times respectively (Previous Year average and peak stands at 4.47 and 7.50 times respectively)
(Rs in lacs) |
||||
NOTE 2.5 |
||||
TRADE PAYABLES |
||||
Stale Cheques |
0.03 |
3.76 |
||
Brokerage Payable |
0.69 |
0.51 |
||
Sundry General |
4.47 |
4.47 |
||
Settlement Charges Payable |
14.79 |
19.98 '' |
33.54 |
42.28 |
(There are no dues outstanding to organizations covered under MSME) |
||||
TOTAL |
19.98 |
42.28 |
(Rs in lacs) |
||
As at 31.03.2018 |
As at 31.03.2017 | |
NOTE 2.6 |
||
OTHER CURRENT LIABILITES |
||
Unclaimed Dividend |
67.89 |
49.08 |
IDS & GST Payable |
56.34 |
12.75 |
Interest Accrued but not due on Short Term Borrowing |
904.73 |
85.94 |
Stale Cheques |
3.57 |
1.30 |
Accrual on Interest Rate Swaps |
(2.66) |
19.81 |
Unclaimed Bonus Fractional Entitlement Payable |
0.32 |
0.32 |
TOTAL |
(Rs in lacs) |
||||
NOTE 2.7 |
||||
SHORT TERM PROVISIONS |
||||
Provisions - For Employee Benefits |
29.67 |
27.06 |
||
-Other Provisions for expenses |
70.47 |
60.48 |
||
Provision for Interest Rate Swaps |
39.60 |
- |
||
Provisions for Income Tax |
12279.71 |
12419.45 |
14868.87 |
14956.41 |
TOTAL |
12419.45 |
14956.41 |
||
Details of provision for employee benefits (leave liability) are given in the note 2.31 |
(Rs in lacs) |
|||||||||||
NOTE 2.8 |
|||||||||||
PROPERTY, PLANT AND EQUIPMENT AND DEPRECIATION |
|||||||||||
Gross Block |
Depreciation |
Net Block |
|||||||||
Description |
As at 01-04-17 |
Additions during the year |
Adjustment/ Deductions during the year |
As at 31-03-18 |
As at 01-04-17 |
Dep. during the year |
Accumulated Dep. On deductions |
As at 31-03-18 |
As at 31-03-18 |
As at 31-03-17 |
|
A |
Tangible |
||||||||||
1 |
Buildings |
589.44 |
- |
- |
589.44 |
338.26 |
12.19 |
- |
350.45 |
238.99 |
251.18 |
2 |
Office Equipments |
51.86 |
4.97 |
2.35 |
54.48 |
43.15 |
9.18 |
2.35 |
49.98 |
4.50 |
8.71 |
3 |
Computers |
118.40 |
7.73 |
2.09 |
124.04 |
117.77 |
3.90 |
2.09 |
119.58 |
4.46 |
0.63 |
4 |
Furniture & Fixtures |
132.53 |
3.91 |
0.92 |
135.52 |
112.65 |
14.24 |
0.92 |
125.97 |
9.55 |
19.88 |
5 |
Vehicles |
33.34 |
10.41 |
5.01 |
38.74 |
14.63 |
7.00 |
4.57 |
17.06 |
21.68 |
18.71 |
B |
Intangible |
||||||||||
1 |
Computer Software |
242.39 |
- |
15.49 |
226.90 |
240.10 |
1.99 |
15.49 |
226.60 |
0.30 |
2.29 |
Total |
1167.96 |
27.02 |
25.86 |
1169.12 |
866.56 |
48.50 |
25.42 |
889.64 |
279.48 |
301.40 |
|
Previous Year |
1188.12 |
57.18 |
77.34 |
1167.96 |
907.81 |
33.55 |
74.81 |
866.55 |
301.40 |
280.31 |
|
Useful life of Intangible Assets is taken as 6 years. |
(Rs in lacs) |
||
As at 31.03.2018 |
As at 31.03.2017 |
|
NOTE 2.9 |
||
NON CURRENT INVESTMENTS (at Book Value) |
||
Quoted Investments |
||
Government Securities- Held To Maturity(HTM) category |
83507.01 |
44254.41 |
⢠Market value of the above stock as on March 31 , 2018 was Rs 79644.74 lacs (Previous Year Rs For basis of valuation, refer to note 1.4. The transactions during the year are given below: |
4380 1.05 Lacs). |
(Rs in lacs) |
||||
2017-18 |
2016-17 |
|||
Face Value |
Book Value |
Face Value |
Book Value |
|
Opening Stock |
43377.20 |
44254.41 |
63995.80 |
64046.51 |
Add: Subscription |
87873.10 |
87126.73 |
167201.10 |
171460.03 |
Transfer to HTM - |
||||
131250.30 |
131381.14 |
231196.90 |
235506.54 |
|
Less: Sale and amortization |
48700.00 |
47874.13 |
187819.70 |
191252.13 |
Transfer From HTM - |
||||
Closing Stock |
82550.30 |
83507.01 |
43377.20 |
44254.41 |
⢠Securities amounting to Face Value Rs 48700.00 lacs were sold directly from the HTM category (Previous Year Rs 187819.70 lacs) and the company earned a gross profit of Rs 500.67 lacs (Previous Year Rs 3394.38 lacs). Balance profit after tax amounting to Rs 331.08 lacs has been transferred to Capital Reserve Account in accordance with RBI guidelines (Previous Year Rs 2229.71 lacs).
⢠Amortization on HTM category of Rs 114.34 lacs as on March 31, 2018 (Prev. Year Rs 79.33 lacs) has been separately provided (refer note no 2.23).
As at 31.03.2018 |
(Rs in lacs) As at 31.03.2017 |
|
Annexure to Note 2.9 -Details of Government Securities -HTM Category |
||
SI. No. Nomenclature |
(Book Value) |
(Book Value) |
A . State Government Securities |
||
1 . 8.31 % UTTAR PRADESH SDL 29-07-2025 |
2096.43 |
2096.62 |
2. 7.97% TAMIL NADU SDL 14-10-2025 |
204.40 |
204.40 |
3. 7.98% KARNATAKA SDL 14-10-2025 |
1000.53 |
1000.60 |
4. 8.01 % PUNJAB SDL 14-10-2025 |
500.26 |
500.30 |
5. 8.22% KARNATAKA SDL 09-12-2025 |
158.00 |
158.00 |
6. 8.22% TAMIL NADU SDL 09-1 2-2025 |
210.10 |
210.10 , |
As at 31.03.2018 |
(Rs in lacs) As at 31.03.2017 |
||
7. |
8.22% WEST BENGAL SDL 09-12-2025 |
8.60 |
8.60 |
8. |
8.23% UTTAR PRADESH SDL 09-12-2025 |
500.27 |
500.30 |
9. |
7.86% WEST BENGAL SDL 13-07-2026 |
2001.74 |
2001.95 |
10. |
7.86% UTTAR PRADESH SDL 13-07-2026 |
3001 .74 |
3001 .96 |
11. |
6.85% RAJASTHAN SDL 30-1 1-2026 |
1500.91 |
1501.01 |
12. |
7.31% MEGHALAYA SDL 23-08-2027 |
2502.30 |
- |
13. |
7.42% PUNJAB SDL 13-09-2027 |
2506.62 |
- |
14. |
7.44% J&K SDL 13-09-2027 |
2509.92 |
|
Sub Total - (A) |
18701.82 |
11183.84 |
|
B. |
Central Government Securities |
||
1. |
6.79% GOI 15-05-2027 |
10653.23 |
- |
2. |
7.17% GOI 08-01 -2028 |
4488.90 |
- |
3. |
6.79% GOI 26-1 2-2029 |
7604.20 |
- |
4. |
7.61% GOI 09-05-2030 |
10827.21 |
- |
5. |
6.68% GOI 17-09-2031 |
7336.51 |
- |
6. |
7.73% GOI 19-12-2034 |
8144.61 |
- |
7. |
7.06% GOI 10-10-2046 |
965.97 |
- |
8. |
6.62% GOI 28-11-2051 |
898.12 |
- |
9. |
6.57% GOI 05-12-2033 |
9555.18 |
9323.53 |
10. |
6.79% GOI 26-12-2029 |
- |
5116.70 |
11. |
6.84% GOI 19-12-2022 |
4331 .26 |
7734.83 |
12. |
7.61% GOI 09-05-2030 |
10895.51 |
|
Sub Total - (B) |
64805.19 |
33070.57 |
|
TOTAL (A B) |
83507.01 |
44254.41 |
(Rs. in lacs) |
||||
As at 31.03.2018 |
As at 31.03.2017 |
|||
NOTE 2.10 |
||||
DEFERRED TAX ASSETS |
||||
For Provision against Leave Liability |
52.09 |
45.68 |
||
For Provision against Fixed Assets |
7.57 |
59.66 |
1.33 |
47.01 |
NET DEFERRED TAX ASSETS |
59.66 |
47.01 |
||
Deferred Tax Adjustment |
(12.65) |
(2.62) |
Rs in lacs) |
||||
As at 31.03.2018 |
As at 31.03.2017 |
|||
NOTE 2.11 |
||||
LONG TERM LOANS & ADVANCES |
||||
a) Secured and considered good |
||||
Loans to Staff |
||||
Consumer Loan to staff |
0.93 |
3.69 |
||
Housing Loan to Staff # |
126.53 |
7.11 |
||
# includes loan to Exec. Director & CFO - NIL (Previous Year Rs 1 .05 lacs) |
||||
Vehicle Loan to Staff |
18.27 |
145.73 |
14.46 |
25.26 |
b) Unsecured and considered good |
||||
Security Deposit |
||||
Security Deposit with CCIL |
1317.00 |
1089.00 |
||
F&O Margin Money Deposit |
- |
40.30 |
||
IRF Margin Money Deposit |
- |
347.00 |
||
Security Deposit with others |
4.38 |
1321.38 |
4.84 |
1481.14 |
TOTAL |
1467.11 |
1506.40 |
(Rs in lacs) |
||||
NOTE 2.12 |
||||
INVENTORIES |
||||
STOCK-IN-TRADE (Book Value) |
||||
Quoted - Non - Hedged |
||||
Treasury Bills - 91 days |
10.69 |
65.80 |
||
Treasury Bills - 182 days |
- |
11370.69 |
||
Treasury Bills - 364 days |
87741.01 |
25152.82 |
||
Government Securities |
192925.03 |
234457.67 |
||
Certificate of Deposits and Commercial Papers |
4983.48 |
- |
||
Corporate Bonds & Debentures |
101338.60 |
78117.74 |
||
Equity Shares Investment |
128.83 |
387127.64 |
209.48 |
349374.20 |
Unquoted - Non - Hedged |
||||
Mutual Fund Units |
- |
26762.76 |
||
Quoted - Hedged |
||||
Government Securities |
34954.00 |
7399.94 |
Rs in lacs) |
||
As at 31.03.2018 |
As at 31.03.2017 |
|
Corporate Bonds & Debentures |
- |
5001.15 |
422081 .64 |
388538.05 |
|
Less: Provision for Diminution of Stocks |
(2047.04) |
(2.85) |
TOTAL |
420034.60 |
388535.20 |
For basis of valuation, please refer accounting policy (note 1.4). Details of securities are given in Annexure to
Note 2.12.
Stock-in-Trade includes hedged securities {Book Value - Rs 34954.00 lacs (Previous Year Rs 12401.09 lacs) and the market value of the same is Rs 35145.83 lacs (Previous Year Rs 12737.90 lacs)} and there is a net provision of - NIL (Prev Year - NIL) for diminution after adjusting the appreciation in Swaps of Rs 6.56 lacs (Previous Year Rs 143.18 lacs diminution).
The company is providing custodian services to its constituents and total holdings of 77 (P.Y. 85) constituents in Govt. Securities as at 31.03.2018 in SQL II with RBI is Rs 3955859.03 lacs (Previous Year Rs 3575148.21 lacs)
|
Rs. in Lacks |
||
As at 31.03.2018 |
As at 31.03.2017 |
||
|
Annexure to Note 2.12 Details of Stock-in-Trade |
||
SI. |
No. Nomenclature |
(Book Value) |
(Book Value) |
I. |
TREASURY BILLS |
||
A. |
91 Days (maturing on) |
||
1. |
1 1 -May-2017 |
- |
30.91 |
2. |
20-Apr-2017 |
- |
34.89 |
3. |
31 -May-201 8 |
10.69 |
- |
TOTAL (A) |
10.69 |
65.80 |
|
B. |
182 Days (maturing on) |
||
1. |
06-Apr-2017 |
- |
3197.27 |
2. |
20-Apr-2017 |
- |
8173.42 |
TOTAL (B) |
- |
11370.69 |
|
C. |
364 Days (maturing on) |
||
1. |
04-Jan-201 8 |
16670.84 |
|
2. |
08-Jun-2017 |
- |
1086.76 |
3. |
09-Nov-201 7 |
- |
892.31 |
4. |
12-Apr-2018 |
2695.26 |
- |
5. |
30-Aug-201 8 |
13536.44 |
- |
(Rs in lacs) |
|||
As at 31.03.2018 |
As at 31.03.2017 |
||
6. |
11-Oct-2018 |
18703.22 |
- |
7. |
17-Oct-2018 |
18785.03 |
- |
8. |
13-Dec-2018 |
16936.58 |
- |
9. |
20-Dec-2018 |
93.96 |
- |
10. |
24-Jan-2019 |
10449.18 |
- |
11. |
21-Mar-2019 |
6541 .34 |
- |
12. |
15-Feb-2018 |
- |
2670.26 |
13. |
21-Dec-2017 |
- |
1244.18 |
14. |
27-Apr-2017 |
- |
2588.47 |
TOTAL (C) |
87741.01 |
25152.82 |
|
TOTAL (A B C) |
87751.70 |
36589.31 |
II. CERTIFICATE OF DEPOSITS |
|||
1. |
UJJIVAN SMALL FINANCE BANK LTD CD 10-04-2018 |
2495.54 |
- |
2. |
SOUTH INDIAN BANK LTD 25-04-2018 |
2487.94 |
- |
TOTAL |
4983.48 |
- |
|
III. GOVERNMENT DATED SECURITIES |
|||
A. |
CENTRAL GOVERNMENT SECURITIES |
||
1. |
7.59% GOI 11-01-2026 |
- |
11985.86 |
2. |
10.03%GOI 09-08-2019 |
0.05 |
5.91 |
3. |
8.79% GOI 08-1 1-2021 |
- |
5.25 |
4. |
8.35% GOI 14-05-2022 |
- |
0.05 |
5. |
7. 16% GOI 20-05-2023 |
7.21 |
1512.88 |
6. |
8.40% GOI 28-07-2024 |
- |
5381 .56 |
7. |
7.68% GOI 15-12-2023 |
- |
3128.73 |
8. |
5.69% GOI 25-09-201 8 |
- |
4962.98 |
9. |
6.25% GOI 02-01 -201 8 |
- |
1498.17 |
10. |
6.62% GOI 28-1 1-2051 |
- |
3165.62 |
11. |
6.79% GOI 26-1 2-2029 |
- |
15646.03 |
12. |
6.97% GOI 06-09-2026 |
- |
13260.33 |
13. |
7.40% GOI 09-09-2035 |
- |
1506.57 |
14. |
7.50% GOI 10-08-2034 |
11546.88 |
(? in lacs) |
|||
As at | 31.03.2018 |
As at 31.03.2017 |
||
15. |
7.72% GOI 25-05-2025 |
- |
14022.33 |
16. |
7.80% GOI 11-04-2021 |
25.39 |
8.16 |
17. |
8.28% GOI 21 -09-2027 |
- |
4.15 |
18. |
6.05% GOI 02-02-201 9 |
15919.90 |
- |
19. |
6.90% GOI 13-07-2019 |
12977.43 |
- |
20. |
8.35% GOI 14-05-2022 |
0.05 |
- |
21. |
6.30% GOI 09-04-2023 |
46.36 |
- |
22. |
6. 17% GOI 12-06-2023 |
421.69 |
- |
23. |
8.83% GOI 25-1 1-2023 |
2.04 |
- |
24. |
7.35% GOI 22-06-2024 |
4.81 |
- |
25. |
8.20% GOI 24-09-2025 |
1.98 |
- |
26. |
7.73% GOI 19-12-2034 |
149.99 |
- |
TOTAL (A) |
29556.90 |
87641.46 |
|
B. |
FLOATING RATE NOTES |
||
1. |
GOI FRN 07-NOV-2024 |
3379.93 |
- |
TOTAL (B) |
3379.93 |
- |
|
C. |
STATE GOVERNMENT SECURITIES |
||
1. |
8.68% KARNATAKA 07-1 1 -201 7 |
- |
5038.06 |
2. |
8.50% MAHARASTRA 03-12-2017 |
- |
2531.07 |
3. |
8.43% GUJARAT 10-03-2018 |
- |
1009.26 |
4. |
8.46% MAHARASTRA 12-03-2019 |
1523.76 |
1012.30 |
5. |
8.78% HARYANA SDL 23-07-2017 |
- |
2532.71 |
6. |
8.75% HIMACHAL PRADESH SDL 03-10-2017 |
- |
5076.02 |
7. |
8.44% PUNJAB SDL 12-11-2019 |
- |
2500.87 |
8. |
8.12% MAHARASHTRA SDL 13-1 1-2025 |
504.87 |
514.26 |
9. |
6.83% PUNJAB SDL 11-11 -2020 |
5422.30 |
5422.30 |
10. |
6.90% PUNJAB SDL 11-01-2021 |
6366.55 |
6366.55 |
11. |
7.03% GUJARAT SDL 14-09-2018 |
2007.40 |
2007.40 |
12. |
7.20% BIHAR SDL 25-01-2027 |
- |
86.91 |
13. |
7.45% GUJARAT SDL 18-02-2019 |
724.42 |
222.12 |
14. |
7.55% WEST BENGAL SDL 17-04-2019 |
- |
1010.11 |
15. |
7.59% KARNATAKA SDL 29-03-2027 |
- |
100.00 |
16. |
7.62% ANDHRA PRADESH SDL 29-03-2027 |
- |
2505.25 |
17. |
7.62% TELANGANA SDL 07-03-2026 UDAY |
" |
5.01 |
(? in lacs) |
|||
As at | 31.03.2018 |
As at 31.03.2017 |
||
18. |
7.64% UTTAR PRADESH SDL 29-03-2027 |
- |
57.52 |
19. |
7.64% WEST BENGAL SDL 29-03-2027 |
- |
2948.16 |
20. |
7.67% TAMIL NADU SDL 22-03-2023 UDAY |
- |
940.00 |
21. |
7.68% MADHYA PRADESH SDL 22-03-2023 UDAY |
- |
3001.51 |
22. |
7.68% TAMIL NADU SDL 22-03-2026 UDAY |
- |
940.00 |
23. |
7.69% MADHYA PRADESH SDL 22-03-2026 UDAY |
- |
3001.81 |
24. |
7.70% TELANGANA SDL 22-03-2023 UDAY |
- |
1001.41 |
25. |
7.71 % TELANGANA SDL 22-03-2026 UDAY |
- |
1001.91 |
26. |
7.75% RAJASTHAN SDL 23-06-2018 UDAY |
- |
20192.31 |
27. |
7.78% BIHAR SDL 01-03-2027 |
- |
2013.57 |
28. |
7.78% UTTAR PRADESH SDL 01-03-2027 |
- |
3016.32 |
29. |
7.85% ANDHRA PRADESH SDL 22-07-2019 |
- |
2026.62 |
30. |
7.86% RAJASTHAN SDL 23-06-2019 SPL |
- |
10190.12 |
31. |
7.90% TAMIL NADU SDL 22-03-2027 UDAY |
- |
940.00 |
32. |
7.91% MADHYA PRADESH SDL 22-03-2027 UDAY |
- |
3002.11 |
33. |
7.91% TAMIL NADU SDL 22-03-2024 UDAY |
- |
940.00 |
34. |
7.92% MADHYA PRADESH SDL 22-03-2024 UDAY |
- |
3001.51 |
35. |
7.92% TAMIL NADU SDL 22-03-2032 UDAY |
- |
1738.71 |
36. |
7.92% WEST BENGAL SDL 15-03-2017 |
- |
507.68 |
37. |
7.93% MADHYA PRADESH SDL 22-03-2032 UDAY |
- |
3002.71 |
38. |
7.93% TELANGANA SDL 22-03-2027 UDAY |
- |
1002.01 |
39. |
7.94% TELANGANA SDL 22-03-2024 UDAY |
- |
1001.61 |
40. |
7.95% TELANGANA SDL 22-03-2032 UDAY |
- |
1002.61 |
41. |
8.01% TAMIL NADU SDL 22-03-2030 UDAY |
- |
940.00 |
42. |
8.02% MADHYA PRADESH SDL 22-03-2030 UDAY |
- |
3002.41 |
43. |
8.02% TAMIL NADU SDL 22-03-2025 UDAY |
- |
940.00 |
44. |
8.03% MADHYA PRADESH SDL 22-03-2025 UDAY |
- |
3001.81 |
45. |
8.04% TAMIL NADU SDL 22-03-2029 UDAY |
- |
940.00 |
46. |
8.04% TELANGANA SDL 07-03-2031 UDAY |
- |
357.97 |
47. |
8.04% TELANGANA SDL 22-03-2030 UDAY |
- |
1002.41 |
48. |
8.05% GUJARAT SDL 15-06-2026 |
- |
3613.79 |
49. |
8.05% GUJARAT SDL 25-02-2025 |
- |
511.66 |
50. |
8.05% MADHYA PRADESH SDL 22-03-2029 UDAY |
- |
3002.41 |
51. |
8.05% TAMIL NADU SDL 22-03-2031 UDAY |
- |
1232.60 |
(Rs. in lacs) |
|||
As at 31.03.2018 |
As at 31.03.2017 |
||
52. |
8.05% TELANGANA SDL 22-03-2025 UDAY |
- |
1001.71 |
53. |
8.06% MADHYA PRADESH SDL 22-03-2031 UDAY |
- |
3002.41 |
54. |
8.07% TAMIL NADU SDL 15-06-2026 |
- |
513.51 |
55. |
8.07% TELANGANA SDL 22-03-2029 UDAY |
- |
1002.31 |
56. |
8.08% TELANGANA SDL 07-03-2029 UDAY |
- |
9.08 |
57. |
8.08% TELANGANA SDL 22-03-2031 UDAY |
- |
1002.51 |
58. |
8.10% WEST BENGAL SDL 25-11-2019 |
817.53 |
462.66 |
59. |
8.17% HIMACHAL PRADESH SDL 28-02-2028 UDAY |
- |
37.00 |
60. |
8.24% TAMIL NADU SDL 22-03-2028 UDAY |
- |
940.00 |
61. |
8.25% MADHYA PRADESH SDL 22-03-2028 UDAY |
- |
3002.11 |
62. |
8.27% TELANGANA SDL 07-03-2028 UDAY |
- |
14.18 |
63. |
8.27% TELANGANA SDL 22-03-2028 UDAY |
- |
1002.11 |
64. |
8.31% UTTAR PRADESH SDL 04-10-2019 SPL |
519.66 |
519.66 |
65. |
8.36% MAHARASHTRA SDL 27-01-2026 |
- |
3668.04 |
66. |
8.38% GUJARAT SDL 22-09-2020 |
208.60 |
208.60 |
67. |
8.39% TAMIL NADU SDL 08-09-2020 |
- |
729.83 |
68. |
8.39% WEST BENGAL SDL 08-09-2020 |
- |
521.31 |
69. |
8.40% PUNJAB SDL 08-09-2020 |
521 .47 |
521 .47 |
70. |
8.41% UTTAR PRADESH SDL 08-09-2020 |
- |
834.62 |
71. |
8.42% KARNATAKA SDL 10-1 1-2020 |
313.63 |
313.63 |
72. |
8.44% PUNJAB SDL 10-1 1-2020 |
313.84 |
313.84 |
73. |
8.47% MAHARASHTRA SDL 10-02-2026 |
- |
525.63 |
74. |
8.51 % GUJARAT SDL 27-1 0-2020 |
52.43 |
52.43 |
75. |
8.59% UTTAR PRADESH SDL 18-03-2019 |
517.31 |
517.31 |
76. |
8.63% UTTAR PRADESH SDL 10-03-2029 UDAY |
- |
2122.07 |
77. |
8.91% WEST BENGAL SDL 18-07-2022 |
- |
105.40 |
78. |
8.92% TAMIL NADU SDL 08-08-2022 |
- |
211.00 |
79. |
9.02% UTTARAKHAND SDL 21-03-2022 |
- |
105.60 |
80. |
9.25% UTTAR PRADESH SDL 09-11-2021 |
- |
535.97 |
81. |
9.39% KARNATAKA SDL 04-12-2023 |
- |
64.74 |
82. |
7.75% RAJASTHAN SDL 23-06-2018 UDAY |
12214.67 |
- |
83. |
6.65% TAMIL NADU SDL 14-01-2019 |
3489.34 |
- |
84. |
7.13% ANDHRA PRADESH SDL 23-01-2019 |
11017.36 |
- |
85. |
7.45% ANDHRA PRADESH SDL 18-02-2019 |
502.16 |
- |
|
Rs. in lacs |
||
As at | 31.03.2018 |
As at 31.03.2017 |
||
86. |
7.45% TAMIL NADU SDL 18-02-2019 |
501.76 |
- |
87. |
7.68% PUNJAB SDL 02-03-2019 |
5032.49 |
- |
88. |
7.83% MAHARASHTRA SDL 02-03-2019 |
504.81 |
- |
89. |
8.40% GUJARAT SDL 18-03-2019 |
508.21 |
- |
90. |
8.46% RAJASTHAN SDL 18-03-2019 |
511.56 |
- |
91. |
7.10% WEST BENGAL SDL 05-05-2019 |
7494.13 |
- |
92. |
7.83% ANDHRA PRADESH SDL 24-06-2019 |
148.99 |
- |
93. |
8.14% MAHARASHTRA SDL 23-09-2019 |
255.08 |
- |
94. |
8.27% MAHARASHTRA SDL 07-10-2019 |
512.51 |
- |
95. |
8.03% PUNJAB SDL 25-1 1 -201 9 |
152.81 |
- |
96. |
8.05% KARNATAKA SDL 25-1 1 -201 9 |
101.92 |
- |
97. |
8.27% GUJARAT SDL 09-12-2019 |
102.96 |
- |
98. |
8.37% PUNJAB SDL 23-12-2019 |
504.23 |
- |
99. |
8.51 % GOA SDL 1 0-03-2020 |
103.69 |
- |
100. |
8.53% MAHARASHTRA SDL 1 0-03-2020 |
513.21 |
- |
101. |
8.39% ANDHRA PRADESH SDL 25-03-2020 |
51.24 |
- |
102. |
8.57% ANDHRA PRADESH SDL 13-04-2020 |
152.40 |
- |
103. |
8.09% TAMIL NADU SDL 09-06-2020 |
201.50 |
- |
104. |
8.15% GUJARAT SDL 07-07-2020 |
144.36 |
- |
105. |
8.39% MAHARASHTRA SDL 08-09-2020 |
101.00 |
- |
106. |
8.35% GUJARAT SDL 06-10-2020 |
357.85 |
- |
107. |
6.81% MAHARASHTRA SDL 25-10-2020 |
8571.50 |
- |
108. |
6.81 % MAHARASHTRA SDL 08-1 1 -2020 |
21701.14 |
- |
109. |
8.40% GUJARAT SDL 24-11 -2020 |
104.21 |
- |
110. |
7.07% PUNJAB SDL 28-12-2020 |
12016.90 |
- |
111. |
8.39% TAMIL NADU SDL 05-01-2021 |
101.00 |
- |
112. |
7.78% HIMACHAL PRADESH SDL 07-03-2021 |
100.62 |
- |
113. |
8.39% RAJASTHAN SDL 15-03-2021 UDAY |
5221.81 |
- |
114. |
8.36% GUJARAT SDL 16-03-2021 |
104.14 |
- |
115. |
7.55% MAHARASHTRA SDL 21-03-2021 |
1547.70 |
- |
116. |
7.75% PUNJAB SDL 13-07-2021 |
499.91 |
- |
117. |
6.94% ODISHA SDL 26-07-2021 |
12320.10 |
- |
118. |
8.69% KERALA SDL 08-02-2022 |
76.69 |
- |
119. |
6.93% MAHARASHTRA SDL 09-08-2022 |
16423.80 |
- |
As at 31.03.2018 |
As at 31.03.2017 |
||
120. |
9.29% PUNJAB SDL 09-10-2023 |
230.73 |
- |
121. |
9.33% UTTAR PRADESH SDL 09-10-2023 |
1099.66 |
- |
122. |
7.70% TAMIL NADU SDL 22-02-2024 UDAY |
497.54 |
- |
123. |
9.84% ANDHRA PRADESH SDL 26-02-2024 |
5.37 |
- |
124. |
8.19% UTTARAKHAND SDL 09-12-2025 |
1774.67 |
- |
125. |
7.15% MAHARASHTRA SDL 13-10-2026 |
46.87 |
- |
126. |
7.23% TAMIL NADU SDL 14-06-2027 |
479.61 |
- |
127. |
7.18% TAMIL NADU SDL 26-07-2027 |
478.15 |
- |
128. |
8.07% RAJASTHAN SDL 31-01-2028 |
1009.63 |
- |
129. |
8.13% RAJASTHAN SDL 27-03-2028 |
1502.68 |
- |
130. |
8.14% H ARYAN A SDL 27-03-2028 |
2373.96 |
- |
131. |
7.18% MAHARASHTRA SDL 28-06-2029 |
6705.81 |
- |
TOTAL (C) |
159988.20 |
146816.21 |
|
TOTAL (A B C) |
192925.03 |
234457.67 |
|
IV. |
CORPORATE BONDS & DEBENTURES |
||
A. |
PSU - TAXABLE BONDS |
||
1. |
9.81 %PFC 07-1 0-201 8 |
1033.00 |
- |
2. |
7.11%NHAI 05-11-2022 |
2500.00 |
- |
3. |
7.47% PFC 16-09-2021 |
2561.81 |
2561.81 |
4. |
7.63% PFC 14-08-2026 |
- |
2484.59 |
5. |
8.39% PFC 19-04-2025 |
- |
332.91 |
6. |
9.30% PFC 26-08-201 7 |
- |
2555.08 |
7. |
9.81% PFC 07-1 0-201 8 |
- |
1038.94 |
TOTAL (A) |
6094.81 |
8973.33 |
|
B. |
PSU -TAX FREE |
||
1. |
6.32% IRFC 20-12-2017 Tax Free |
- |
1000.00 |
2. |
6.72% IRFC 20-12-2020 Tax Free |
1500.00 |
1500.00 |
TOTAL (B) |
1500.00 |
2500.00 |
|
C. |
DEBENTURES & OTHERS |
||
1. |
9.75% MAHESH HYDRA POWER CORPN 2022 |
181.82 |
227.27 |
2. |
7.35% LIC HSG FIN LTD 16-02-2018 |
- |
5003.16 |
3. |
7.50% HDFC LTD 12-10-2018 |
- |
7500.16 |
4. |
7.51% LIC HSG. FIN LTD 14-08-2018 |
2504.99 |
NOTE 2.24 - SEGMENT INFORMATION
Reportable Segments in respect of business operations of the company have been identified on the basis of varied risk and return profile attached to each business segment which is the primary reporting format, and which are in terms of Accounting Standard - 17 on Segment Reporting. The company does not have any geographical segments, as such there is no secondary reporting format.
FY 201 7-1 8 |
(Rs in lacs) |
||||||||
T-Bills/ CP/CD |
Corp. Bonds & Debentures |
Govt. Securities |
Derivatives |
Fixed Deposits |
Mutual F
Mar 31, 2017
NOTE - 1- ISSUER COMPOSITIONS OF INVESTMENTS IN NON-GOVERNMENT SECURITIES As on March 31, 2017, the total stock of Rs, 388535.20 lacs (Prev. Year : Rs, 496058.15 lacs) (Book Value) comprises of - Govt. Securities (including T. Bills) - Rs, 278446.92 lacs (Prev. Year : Rs, 325384.63 lacs ), - Equity Instruments - Rs, 206.63 lacs (Prev. Year : Rs, NIL lacs), - Money Market instruments - Rs, NIL lacs (Prev. Year : Rs, 130630.12 lacs), - Corporate Bonds and Debentures - Rs, 83118.89 lacs (Prev. Year : Rs, 40043.40 lacs) and - Mutual Fund Units - Rs, 26762.76 lacs (Prev. Year : Rs, NIL lacs). NOTE - 2. - OTHERS a. Tax deducted at source on the interest, miscellaneous income and commission and fees during the financial year 2016-17, amounted to Rs, 8.60 lacs (Prev. Year Rs, 302.21 lacs). b. The Company does not have any foreign currency transactions whether by way of imports, exports or any expenditure. Therefore, no expenditure has been incurred in foreign currency in the current year as well as in the previous year. c. Being a Level-1 enterprise, all the accounting standards are applicable to the company. However on the basis of operations carried out by the Company, AS-2, AS-7, AS-11, AS-12, AS-14, aS-19, AS-21, AS-23, AS-24, AS-25 and AS-27 are not applicable. d. In the opinion of the management there are no impairment losses (P.Y. NIL). Therefore, impairment losses have not been provided in the current financial statements. e. No expenditure on research and development has been incurred by the company (P.Y NIL). f. Provisions to the extent known and reasonable have been provided in the books of accounts. g. There are no trade receivables as on March 31, 2017 and also as on March 31, 2016. h. Figures for the previous year have been regrouped and rearranged wherever considered necessary, in order to make them comparable with those of the current period. *No cash in hand account is maintained in the books of accounts of the company on a regular manner. All cash payments/receipts are routed through an imprest maintained with an officer of the company which is paid/settled through cheque. The above mentioned deposit of SBN represent the balance of imprest in cash by the officer concerned in SBN.
Mar 31, 2016
- Rights, preferences and restrictions attached to each class of shares including restrictions on the distribution of dividends and the repayment of capital: The Company has only one class of equity shares having a par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share. Dividend distribution is for all equity shareholders who are eligible for dividend as on record date. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining 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. - Shares reserved for issue under options and contracts/commitments for the sale of shares/disinvestment, including the terms and amounts: Nil (Prev. Year: Nil) - For the period of five years immediately preceding the date as at which the Balance Sheet is prepared: (a) Aggregate number and class of shares allotted as fully paid-up pursuant to contract(s) without payment being received in cash: Nil (Prev. Year: Nil) (b) Aggregate number and class of shares allotted as fully paid-up by way of bonus shares: Nil (Prev. Year: NIL) (c) Aggregate number and class of shares bought back : Nil (Prev. Year: Nil) - Terms of any securities convertible into equity/preference shares issued along with the earliest date of conversion in descending order starting from the farthest such date : Nil (Prev. Year: Nil) - Calls unpaid (showing aggregate value of calls unpaid by Directors and Officers): Nil (Prev. Year: Nil) - Forfeited Shares: Nil (Prev. Year: Nil) - A sum of Rs. 689.93 lacs (Prev. Year Rs. 1792.28 lacs) (20 per cent of Profit After Tax) has been transferred to Statutory Reserve Fund as per RBI Guidelines. - Net Profit (after tax) through sale of securities from HTM category amounting to Rs. 356.56 lacs (Prev. Year Rs. 1072.52 lacs) has been transferred to Capital Reserve Account as per RBI guidelines. The same will be utilized as per the provisions of the Companies Act, 2013 (refer Note 2.9 for details). - The Board of Directors, in its meeting held on January 9, 2003, had decided to build up Market Fluctuation Reserve over a period of time with the cap equal to paid up capital of the company. At the time of adoption of annual accounts each year, the Board may decide the quantum of amount to be transferred to this Reserve, if necessary. For the financial year 2015-16, Board of Directors had decided not to appropriate any amount to this reserve and the balance outstanding as on March 31, 2016 in this reserve is Rs. 6300 lacs (Prev. Year Rs. 6300 lacs) - The Company has proposed a final dividend of Rs. 1.10 per share for FY 2015-16 (Prev. Year Rs. 1.50 per share), subject to the approval of shareholders in Annual General Meeting, amounting to Rs. 1980.11 lacs (Prev. Year Rs. 2700.15 lacs). Accordingly, a provision of Dividend Distribution Tax of Rs. 403.10 lacs (Prev. Year Rs. 552.85 lacs) has been made. - Net owned Funds (after deducting Deferred Tax and Intangible Assets) of the Company stands at Rs. 73122.23 lacs (Prev. Year Rs. 71805.84 lacs) as against the minimum stipulated capital of Rs. 25000.00 lacs. Return on Net Worth for the year 2015-16 stands at 5.10 per cent (Prev. Year 12.98 per cent). - Capital Adequacy Ratios as on June 30, 2015, September 30, 2015, December 31, 2015 and March 31, 2016 were 66.41 per cent (Prev. Year 36.21 per cent), 69.50 per cent (Prev. Year 39.36 per cent), 71.39 per cent (Prev. Year 54.72 per cent) and 68.07 per cent (Prev. Year 65.07 per cent) respectively as against RBI stipulation of 15 per cent. - Securities amounting to Face Value Rs. 111781.50 lacs were sold directly from the HTM category (Prev. Year Rs. 278379.00 lacs) and the company earned a gross profit of Rs. 545.26 lacs (Prev. Year Rs. 1624.78 lacs). Balance profit after tax amounting to Rs. 356.56 lacs has been transferred to Capital Reserve Account in accordance with RBI guidelines (Prev. Year Rs. 1072.52 lacs). - Amortization of Rs. 42.47 lacs on the HTM category as on March 31, 2016 has been separately provided in note no 2.23 relating to other expenses (Prev. Year figures of amortization in HTM category as on March 31, 2015 is Rs. 99.48 lacs) An amount of Rs. 1000 lacs was lent in Call Money to Madhavpura Mercantile Co-operative Bank Ltd. (MMCBL) in March 2001, which became overdue as on March 31, 2001. The Company was informed by MMCBL that the Government of India (Ministry of Agriculture, Department of Agriculture and Co-operation, New Delhi), in consultation with RBI, has formed Reconstruction Scheme and the amount would be paid accordingly. However, the repayment was not done by them as per the scheme and vide Governmentâs notifications instructed that all payments by bank including installment of repayment due in August 2007, August 2008 and August 2009 (totaling to Rs. 761.88 lacs against which Rs. 761.88 lacs provision was outstanding) and payments of interest and the deposit amount were deferred till August 2011. RBI cancelled the license of MMCBL to carry on banking business in India and Liquidator was appointed. The Company has already lodged the claim with the Liquidator as per the format advertised by them in the news papers, and awaiting response from them. The provision for diminution in investment has been written off in the current financial year. Reportable Segments in respect of business operations of the company have been identified on the basis of varied risk and return profile attached to each business segment which is the primary reporting format, and which are in terms of Accounting Standard - 17 on Segment Reporting. The company does not have any geographical segments, as such there is no secondary reporting format. - Provision for Diminution of Rs. 107.83 lacs on Government Securities(including hedged securities), Rs. 54.59 lacs on Treasury Bills, Rs. NIL lacs on Equity Investments and Rs. NIL lacs on Corporate Bonds as on March 31, 2016 has been provided for and included in segment liabilities (Prev. Year Rs. 74.63 lacs on Government Securities, Rs. NIL lacs on Treasury Bills, Rs. NIL lacs on Equity Investments and Rs. NIL lacs on Corporate Bonds and Debentures) - Fixed Deposits placed by the company are funded out of the Net Owned Funds and thus have not been apportioned any costs. Consequently, the total allocable expenses have been allocated to all other segments. Figures of the previous year have been regrouped and rearranged accordingly. NOTE - 2.25 - RELATED PARTY INFORMATION As per Para 9 of the Accounting Standard 18 on Related Party Disclosures, the Company, being a state controlled enterprise, is not required to make disclosures of related party relationships with other state controlled enterprises and transactions with such enterprises. Other information as per the Standard is as under: - The overall supervision and control of the company vests with the Board of Directors. The Managing Director and Executive Director and CFO of the company, appointed by the Board of Directors, are working full time with the Company. - Out of the total Eight Directors on the Board of the company as at March 31, 2016, four are Independent Directors. Only the Non-Executive Directors are being paid sitting fees for the Board / Committee Meetings. W.e.f March 22, 2016 sitting fee paid to non-executive Directors was increased from Rs. 10000/- to Rs. 25000/- for attending each meeting of the Board and from Rs. 5000/- to Rs. 10000/- for attending each meeting of Audit Committee/CSR Committee/ Nomination and Remuneration Committee/Only Independent Directorsâ Meeting. Sitting fee for attending each meeting of (a) Share Transfer and Issue of Duplicate Shares Committee; and (b) Stakeholdersâ Relationship Committee is same at Rs. 5000/-. During the year, the Company has paid a sum of Rs. 12.21 lacs towards sitting fee, including service tax (Prev. Year Rs. 11.52 lacs). - Other information in this regard is available in Corporate Governance Report and Boardâs report. a. Tax deducted at source on the interest, miscellaneous income and commission and fees during the financial year 2015-16, amounted to Rs. 302.21 lacs (Prev. Year Rs. 322.42 lacs). b. The Company does not have any foreign currency transactions whether by way of imports, exports or any expenditure. Therefore, no expenditure has been incurred in foreign currency in the current year as well as in the previous year. c. Being a Level-1 enterprise, all the accounting standards are applicable to the Company. However, on the basis of operations carried out by the Company, AS-7, AS-11, AS-12, AS-14, AS-16, AS-19, AS-23, AS-24, AS-25 and AS-27 are not applicable. d. In the opinion of the management there are no impairment losses (Prev.Year NIL). Therefore, impairment losses have not been provided in the current financial statements. e. No expenditure on research and development has been incurred by the company (Prev.Year NIL). f. Provisions to the extent known and reasonable have been provided in the books of accounts. g. There are no trade receivables as on March 31, 2016 and also as on March 31, 2015. h. Figures for the previous year have been regrouped and rearranged wherever considered necessary, in order to make them comparable with those of the current period.
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