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Notes to Accounts of Scintilla Commercial & Credit Ltd.

Mar 31, 2015

A. The Company's main business is Finance and Investment falling under one business head. Hence, Segmental Reporting as per AS - 17 is not applicable to the company.

b. As required in terms of Paragraph 13 of Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 2015 issued by RBI, we enclose in the annexure the required Schedule to the Balance Sheet of a Non-Banking Finance Company.

c. Statutory Reserve has been created @ 20% of Profit after Tax as per RBI guidelines.

d. Contingent Provisions against Standard assets has been made @ 0.25% of the outstanding standard assets as per RBI directions.

e. Previous year figures have been regrouped/rearranged wherever considered necessary.

f. Contingent Liabilities & Contracts on capital account: NIL

g. Related Party Transactions


Mar 31, 2014

A. The Company''s main business is Finance and Investment falling under one business head. Hence, Segmental Reporting as per AS - 17 is not applicable to the company.

b. As required in terms of Paragraph 13 of Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 2007 issued by RBI, we enclose in the annexure the required Schedule to the Balance Sheet of a Non-Banking Finance Company.

c. Statutory Reserve has been created @ 20% of Profit after Tax as per RBI guidelines.

d. Contingent Provisions against Standard assets has been made @ 0.25% of the outstanding standard assets as per RBI directions.

e. Previous year figures have been regrouped/rearranged wherever considered necessary.

f. Contingent Liabilities & Contracts on capital account: NIL

g. Related Party Transactions

Disclosure in relation of Transactions with Related Parties in accordance with AS-18n

Notes 1 -15 form integral part of the financial Statements for the year ended on 31/03/2014

NOTES:

1. As defined in paragraph 2 (1) (xii) of the Non - Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998.

2. Provisioning Norms shall be applicable as prescribed in Non - Banking Financial (Non Deposit Accepting or Holding) Companies Prudential Norms (Reserve bank) Direction, 2007

3. All Accounting Standards and Guidance Notes issued by ICAI are applicable including for valuation of Investments and other assets as also assets acquired in satisfaction of debts. However , Market value in respect of quoted investment and break - up / fair value/ NAV in respect on unquoted investment should be disclosed irrespective of whether they are classified as long term or current in ( 4 ) above .


Mar 31, 2013

A. The Company''s main business is Finance and Investment falling under one business head. Hence, Segemental Reporting as per AS - 17 is not applicable to the company

b. As required in terms of Paragraph 13 of Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 2007 issued by RBI, we enclose in the annexure the required Schedule to the Balance Sheet of a Non- Banking Finance Company.

c. Statutory Reserve has been created @ 20% of Profit after Tax as per RBI guidelines.

d. Contingent Provisions against Standard assets has been made @ 0.25% of the outstanding standard assets as per RBI directions.

e. Previous year figures have been regrouped/rearranged wherever considered necessary.

f. Contingent Liabilities & Contracts on capital account: NIL

g. Related Party Transactions

Disclosure in relation of Trasactions with Related Parties in accordance with AS-18

Significant Accounting Policies to the financial statements for the year ended on 31st March 2013


Mar 31, 2012

A. Previous year figures have been regrouped/rearranged wherever considered necessary.

b. Contingent Liabilities & Contracts on capital account: NIL

c. Related Party Transactions

Disclosure in relation of Trasactions with Related Parties in accordance with AS-18

Notes 1 -11 form integral part of the financial Statements for the year ended on 31/03/2012 Signatures to Notes 1-11


Mar 31, 2011

1 The Company''s main business is Finance and Investment falling under one business head. Hence, Segementai Reporting as per AS -17 is not applicable to the company

2 The Company has rot entered into any Related Party Transactions as per AS -18

3 Loss in Capital Markel Operations is the net result of Purchase, Sale and Share Difference.

4 As recquired in terms of paragraph 9BB of Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998, issued by RBI, We enclose in the annexure the recquired Schedule to the Bal snce Sheet of a Non-Banking Finance Company.

5 Special Reserve has been created @ 20% of Profit after Tax as per RBI guidelines.

6 Contingent Provisions against Standard assets has been made @ 0.25% of the outstanding standard assets as oer RBI directions.

7 Previous Year figures have been regrouped and/or rearranged wherever required.

8 Schedules 1 to 11 f nrrn an integral part of the Accounts for the year. .

Signature to Schedule 1 to 11

Notes: :

1. As defined in Paragraph 2{1)(xii) of the Non - Banking Financial Companies Acceptance of Public

Deposits (Rekefve Bank) Directions, 1998 ¦

2. Provisioning norms shall be applicable as prescribed in Non - Banking Financial Companies Prudential Narnhs (Reserve Bank) Directions, 1998

3. All Accounting Standards and Guidance Notes issued by ICAl are applicable including for valuation of investments and other assets as also assets acquired in satisfaction of debt. However, markjst value in respect of quoted investment and break up / fair value / NAV in respect of unquoted investments should be disclosed irrespective of whether they are classified as long term or current jin column (5)

 
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