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Notes to Accounts of Remi Securities Ltd.

Mar 31, 2014

1.1 The company does not have any outstanding amount payable to Micro, Small and Medium Enterprises as specified in Micro, Small and Medium Enterprises Development Act, 2006.

1.2 Provisions of The Payment of Gratuity Act, and the Employees'' Provident Fund Act, 1952 are not applicable to the Company.

1.3 Related parties disclosures

A. Associate Companies

Bajarang Finance Limited, Rajendra Finance Private Limited, Remi Finance & Investment Private Limited,Remi Fans Limited and Kuberkamal Industrial Investments Ltd.

31-03-2014 31-03-2013 (Rs.) (Rs.)

a) Interest Paid 33,49,905.00 16,28,978.00

b) Interest Received. NIL 875.00

c) Loan Given NIL NIL

d) Loan Received 40,00,000.00 6,77,57,281.00

e) Outstanding Payable at year end 2,24,40,995.00 3,72,31,080.00

f) Outstanding Receivable at year end NIL NIL

1.4 The company has exposure to National Spot Exchange Ltd. (NSEL) of Rs.7,94,79,965/- through M/S Motilal Oswal Commodities Broker Pvt. Ltd. NSEL has not been able to discharge its payment obligation from August 2013 onwards. Economic Office Wing (EOW) of Mumbai Police is investigating the matter and NSEL Investors Forum of which company is a member has also filed writ in Bombay High Court. Based on the information available with the company it is decided to write off Rs. 1,98,70,000/- during the year being 25% of the original outstanding amount. The company is hopeful for recovery of the balance amount in view of the steps taken by EOW of Mumbai Police, legal case in the High Court and steps taken by court.

2. Share Capital

A) Terms/ Rights Attached to Equity Shares:

i) The company has only one class of equity shares having par value of Rs. 10. Each holder of equity shares is entitled to one vote per share.

ii) In the event of liquidation of the company, the holders of the 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.

3. Previous year figures have been regrouped / rearranged, wherever necessary to control with current year''s presentation.


Mar 31, 2013

1.1 The company does not have any outstanding amount payable to Micro, Small and Medium Enterprises as specified in Micro, Small and Medium Enterprises Development Act, 2006.

1.2 Provisions of The Payment of Gatuity Act, and the Employees'' Provident Fund Act, 1952 are not applicable to the Company.


Mar 31, 2012

1.1 Company does not have complete information to determine Micro, Small and Medium Enterprises as specified in Micro, Small and Medium Enterprises Development Act, 2006 hence it is not possible for us to verify the amount due to such enterprises.

1.2 Provisions of the payment of The Gratuity Act, and the Employees' Provident Funds Act, 1952 are not applicable to the Company.

1.3 Contingent Liabilities :-

As at As at

31-03-2012 31-03-2011

Guarantees to bank on behalf of third parties NIL 4,30,00,000

1.4 Till the year ended 31st March, 2011, the Company was using pre-revised schedule VI to the Companies Act, 1956, for preparation and presentation of its financial statements. During the year ended 31st March, 2012, the revised schedule VI notified under the Companies Act 1956, has become applicable to the Company. The Company has reclassified previous year figures to conform to this year's classification. The adoption of revised schedule VI does not impact recognition and measurement principles followed for preparation of financial statements.


Mar 31, 2010

1. Company does not have complete information to determine Micro, Small and Medium Enterprises as specified in Micro, Small and Medium Enterprises Development Act, 2006 hence it is not possible for us to verify the amount due to such enterprises.

2. Provisions of the payment of The Gratuity Act, and the Employees Provident Funds Act, 1952 are not applicable to the Company.

3. Contingent Liabilities :-

i) Guarantees to bank on behalf of third parties 4,30,00,000.00 8,34,00,000.00

ii)The company has pledged 1,87,500 equity shares of Remi Metals Gujarat Ltd. to Financial Institution as security against loans granted to Remi Metals Gujarat Ltd.

4. Other additional information required to be given under paragraph 3 and 4 of part II of Schedule VI to the Companies Act, 1956, are not applicable.

5. Previous years figures are regrouped / rearranged wherever found necessary.

 
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