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Notes to Accounts of RR Financial Consultants Ltd.

Jun 30, 2015

1.RELATED PARTY DISCLOSURE

As per Accounting Standard 18, the disclosures of transactions with the related parties are given below :

a List of Related Parties. (as identified and certified by the Management)

S.N Name of the Related Party Relationship o.

1 Shri Raghunandan Prasad Key Managerial Personnel

2 Shri Rajat Prasad Key Managerial Personnel

3 Mrs. P.S.Prasad Key Managerial Personnel

4 Mrs. Minu Tondon Key Managerial Personnel

5 Shri Monojit Bose Key Managerial Personnel

6 Shri Manish Agarwal Key Managerial Personnel

7 Shri Anurag Awasthi Key Managerial Personnel

8 Shri Sumit Kumar Sharma Key Managerial Personnel

9 Shri Tapas Shankar Das Gupta Key Managerial Personnel

10 Shri Tapas Kumar Biswas Key Managerial Personnel

11 Shri Jeetesh Kumar Key Managerial Personnel

12 Shri Sandeep Kumar Dhall Key Managerial Personnel

b Transactions during the year with related parties.

Remuneration Key Managerial Personnel Rs 71,98,456

Amount Due from us as Key Managerial Personnel Rs 79,92,000

Amount Due to us as Associate Company Rs 4,99,673

2. Previous year's figures has bee n regrouped and rearranged wherever consi dered necessary so as to make them comparable with those of the current year.

3. Micro, Small and Medium Enterprises Development Act, 2006

On the basis of information and record available with the Management, the following disclosure pursuant to the above Act are made for the amount due to the Micro and small Enterprises, who have registered with the competent authorities :

4. The accounts of Two Subsidiaries of RR Financial Consultants Ltd, Two Subsidiaries of R R Equity Brokers Private Limited, One Subsidiary of RR Investors Capital Services private limited and One subsidiary of RR Infra Estate Private Ltd., whose financial year closes on 31st March 2015 have been prepared for the year ended on 30th June 2015 for the purpose of consolidation.

5. As per the management all fees are received from financ ial services and capital markets. Therefore, in accord ance with Accounting Standard 17 issued by The Institute of Chartered Accountants of India (AS17) on segment reporting, financial services is the only reportable business segments and cannot be segregated. In the circumstances segment information required by AS 17, cannot be furnished.

6. The management has not provided / account for deferred tax liability / assets in hold! ng company, in accordance with the Accounting Standards 22 issued by The Institute of Chartered Accountants of India (AS22) on 'Accounting for Taxes on Income' as the same is not expected to be realized in the foreseeable future.

7. Foreign Currency Transactions

Expenditure incurred in Foreign Currency Nil

Income in Foreign Currency Nil

Other Receipts Nil

8. Contingent Liabilities and Commitments. (to be extent not provided for)

(i) Contingent Liabilities shall be classified as :

(a) Claims against the company not acknowledged as debts 2043 Lacs

(b) Bank guarantees outstanding*

Against Loan 1300 Lacs

Against Margin of stock Exchange 900 Lacs

(c) Other money for which the company is contingently liable NIL

(i i) Commitments shall be classified as :

(a) Estimated amount of contracts remaining to be executed on capital amount and not provided for NIL

(b) Uncalled liability on shares and other investments NIL party paid

(c) Other commitments (specify nature) . NIL

9. During the year, pursuant to the provisions of Schedule II to the companies Act, 2013 with effect from 1st April 2014, the Company has revised the estimated useful life of the Assets as mentioned in Note no 1(d) (ii & iii). Pursuant to the transition provisions prescribed in Schedule II to the Companies Act, 2013, the Company has fully depreciated the carrying Value of assets (net of residual value), where the remaining useful life of the asset was determined to be Nil as on 1 st April, 2014 and has been adjusted to the opening retained earnings. For the other assets the carrying amount as on 1st April 2014 will be amortized over the remaining useful life of assets. As a result:-

10. An amount of Rs. 15,81,677/- has been recognized to the opening retained earnings as on 1st April, 2014.

11. Depreciation expense for the year ended 30th June is lower by Rs 3,40,948/-

12. All Parties Accounts and bank accounts are subject to confirmation.

13. Balance with Bank in deposit accounts include deposit of 5000000/- ( previous year Rs 5000000/- under lien with IRDA)

14. In one of the subsidiary which is NBFC Management has classified all Advances/Loans given as standard Assets as in its opinion and as per stipulations of contract all advances/Loans including Interest are payable on demand.

15. Extraordinary items for the current year is Rs.1,63,97,052, includes amount paid for claim and damages.

16. No provision has been made for amoun t of Rs 3 Crore Paid against claim by a Investor as same is recoverable from issuer company.

17. No provision has been for Sundry debtors more than 6 month ( as shown In note no 16 ) which includes revenues provided on estimated basis in the earlier years as mentioned in Accounting Policy of the financial statements as steps is being taken by the management to reconcile and recover the amount.


Jun 30, 2014

Key Management Personnel

RAJAT PRASAD MANAGING DIRECTOR

RAGHUNANDAN PRASAD DIRECTOR

PRIYANKA SINGH DIRECTOR

1 Contingent Liabilities and Commitments

(to be extent not provided for)

(i) Contingent liabilities shall be classified as:

(a) Claims against the company not acknowledged as debts; Nil

(b) Bank guarantees outstanding against Loan for 400 Lacs subsidiary Co.

(c) Bank guarantees outstanding against Stock Exchange 900 Lacs for subsidiary Co.

(d) Other money for which the company is contingently liable Nil

(ii) Commitments shall be classified as:

(a) Estimated amount of contracts remaining to be executed Nil on capital account and not provided for;

(b) Uncalled liability on shares and other investments Nil partly paid

(c) Other commitments (specify nature) Nil

2 Segment Reporting

As per the management all fees are received from financial services and capital market. Therefore in accordance with accounting standard 17 on segment reporting, financial services is the only reportable business segment and cannot be segregated. In the circumstances segment information required by AS 17 of the Institute of Chartered Accountants of India, cannot be furnished.

3 Micro, Small and Medium Enterprises Development Act, 2006

On the basis of information and record available with the Management, the following disclosure pursuant to the above Act are made for the amounts due to the Micro and Small Enterprises, who have registered with the competent authorities:

4 Foreign Currency Transaction

Expenditure incurred in Foreign Currency Nil

Income in foreign currency Nil

Other information Nil

35 DEFERRED TAX

The management has not provided / accounted for deferred tax liability / assets in terms of accounting standard (A.S-22) on ''Accounting for Taxes on Income'' issued by the Institute of Chartered Accountants of India as the same is not expected to be realized in the foreseeable future.

5 Parties accounts whether are debit or credit are subject to reconciliati on and confirmation.

6 Inoperative Bank accounts are subjected to confirmation.

Previous year figures are regrouped and rearrange wherever necess ary so as to make them comparable with those of the current year.


Jun 30, 2013

Basis of Preparation of Financial Statements

The accounts have been prepared on a going conce rn basis according to the hi storical cost convention according to th e accrual system of accounting materially comply with the mandatory accounting statements and standards issued by the Institute of Chartered Accountants of India and the relevant presentational requirements of the Companies Act, 1956. The significant accounting policies followed by the company are as follows:

1 Segment Reporting

As per the management all fees are received from financial services and capital market. Therefore in accordance with acc ounting standard 17 on segment reporting, financial services is the only reportable business segment and cannot be segregated. In the circumstances segment information required by AS 17 of the Institute of Chartered Accountants of India, cannot be furnished.

2 DEFERRED TAX

The management has not provided / accounted for deferred tax liability / assets in terms of accounting standa rd (A.S. – 22) on ''Accounting for Taxes on Income'' issued by the Institute of Chartered Accountants of India as the same is not expected to be realized in the foreseeable future.

3 Parties accounts whether is debit or credit are subject to reconciliation and confirmation.

4 Previous year figures are regrouped and rearrange wherever necessary so as to make them comparable with those of the current year.

nil


Jun 30, 2011

1. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES

Provision is made for all known liabilities except contingent liabilities that are disclosed at their estimated value as detail below:-

(a) Bank guarantees outstanding (30 June, 2011 - Rs. 2550 Lac).

(b) Capital commitments net of Advances (30 June, 2011 - Rs. Nil).

2. DEFERRED TAX

The management has not provided / accounted for deferred tax liability / assets in terms of accounting standard (A.S. - 22) on Accounting for Taxes on Income' issued by the Institute of Chartered Accountants of India as the same is not expected to be realized in the foreseeable future.

3. SEGMENT REPORTING

As per the management all fees are received from financial services and capital market. Therefore in accordance with accounting standard 17 on segment reporting, financial services is the only reportable business segment and cannot be segregated. In the circumstances segment information required by AS 17 of the Institute of Chartered Accountants of India, cannot be furnished.

4. RELATED PARTY DISCLOSURES

List of Related Parties (as identified and certified by the Management)

Parties where control exists Relationship

RR Investors Capital Services (P) Ltd Subsidiary

RR Insurance Brokers (P) Ltd Subsidiary

Arix Consultants (P) Ltd Subsidiary

RR Equity Brokers (P) Ltd. Subsidiary

RR Fincap (P) Ltd. Subsidiary

RR Infra Estates (P) Ltd. Subsidiary

Associates Companies

RR Investor Securities Trading (P) Ltd.

RR Commodity Brokers (P) Ltd.

RR IT Solutions (P) Ltd.

RR Information & Investment Research (P) Ltd.

RR Land Estates (P) Ltd.

RR Investor Distribution Company (P) Ltd.

Lakshminarayan Infra Estates Pvt. Ltd.

RR Investor Retail Services (P) Ltd.

Key Management Personnel

Rajat Prasad Managing Director

Raghunandan Prasad Director

5 Share Trading (Net) Rs 64,03,009/- has been shown after deducting purchases of Shares/debenture of Rs. 22,444,616/- from sale of ShareDebenture of Rs 28,847,625/-.

6 Dividend paid amounting of Rs 55,30,350/- was approved by the members in the AGM held on 31-12-2010.

7 Prior Period items of Rs 220.33 Lacs includes amount paid towards amount of Govt. dues of previous years.

8. RECLASSIFICATION

Previous year's figures have been regrouped or rearranged wherever considered necessary so at to make them comparable with those of the current year.


Jun 30, 2010

1. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES

Provision is made for all known liabilities except contingent liabilities that are disclosed at their estimated value as detail below:-

(a) Bank guarantees outstanding (30 June, 2010 - X 695 Lac).

(b) Capital commitments net of Advances (30 June, 2010 - Rs. Nil).

2. DEFERRED TAX

The management has not provided / accounted for deferred tax liability / assets in terms of accounting standard (A.S. - 22) on Accounting for Taxes on Income issued by the Institute of Chartered Accountants of India as the same is not expected to be realized in the foreseeable future.

3. SUPPLEMENTARY PROFIT AND LOSS STATEMENT DATA

(a) Capacity and production - Not applicable June30,2010 June 30, 2009

(b) Earnings in foreign exchange- Nil Nil

(c) Expenditure in foreign currency Nil Nil

(d) Payments to auditors -Auditors Fees 16,545 16,545

4. SEGMENT REPORTING

As per the management all fees are received from financial services and capital market. Therefore in accordance with accounting standard 17 on segment reporting, financial services is the only reportable business segment and cannot be segregated. In the circumstances segment information required by AS 17 of the Institute of Chartered Accountants of India, cannot be furnished.

5. RELATED PARTY DISCLOSURES

List of Related Parties (as identified and certified by the Management)

Parties where control exists Relationship

RR Investors Capital Services (P) Ltd Subsidiary

RR Insurance Brokers (P) Ltd Subsidiary

Arix Consultants (P) Ltd Subsidiary

RR Equity Brokers (P) Ltd. Subsidiary

RR Fincap (P) Ltd. Subsidiary

RR Infra Estates (P) Ltd. Subsidiary

Associates Companies

RR Investors Securities Trading (P) Ltd. (Formally Known as RR Share Trading (P) Ltd.)

RR Commodity Brokers (P) Ltd.

RR IT Solutions (P) Ltd.

RR Information & Investment Research (P) Ltd.

Key Management Personnel

Rajat Prasad Managing Director

Raghunandan Prasad Director

6. RECLASSIFICATION

Previous years figures have been regrouped or rearranged wherever considered necessary so at to make them comparable with those of the current year.

 
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