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Notes to Accounts of Sharp Investments Ltd.

Mar 31, 2015

I Based on the information / documents available with the Company, no creditor is covered under Micro, Small and Medium Enterprise Development Act, 2006. As a result, no interest provision/payments have been made by the Company to such creditors for the year ended 31st March 2015.

ii Loans & advances balances are subject to confirmation by the respective parties .

iii Segment Report :

The Company is engaged in the business of Non-Banking Financial Services and there are no separate reportable segments as per Accounting Standard 17.

iv Related Party Disclosure :

KEY MANAGEMENT PERSONNEL ( KMP )

1. Sagar Mal Nahata - Managing Director

2. Sonia Jain - Company Secretary

RELATIVE OF KMP AND THEIR ENTERPRISE IN WHICH KMP AND THEIR RELATIVES WHERE TRANSACTION HAS TAKEN PLACE

1. S.M Nahata & Co.

2. S.M. Nahata & Foundation

3. RGF Capital Markets Limited

v The Company has Complied this information based on the current information in its possession. As at 31.03.2015

No supplier has intimated the Company about its status as a Micro or Small enterprise or its Registration ,with the appropriate authority under Micro, SmallM aenddium Enterprise Development Act, 2006. Amount due to Micro Small and Medium Enterprises as on 31.03.2015 Rs. NIL ( PY Rs. NIL )

vi The Financial Statements and Notes on Accounts has been prepared as per the Companies Act, 2013 with their Schedule as the same is effective from 1st April, 2014.

vii Provision for taxation on Income for the year has been made under the tax calculated on income under normal computation as per income tax act being higher than the tax computed under section 115JB of the income tax act.

viii The management has assessed that there is no impairment of Fixed assets requiring provisions in the accounts. Accordingly, there is no debit to the Profit & Loss Account for the impairment of assets.

ix Deferred Taxation :

The company will recogonise the deferred tax liabilities/assets on the timing differences for the period in which there is virtual certainty of future income by way of prudence in accordance with AS-22 " Accounting For Taxes On Income " issued by the Institute of Chartered Accountants of India.

x No Provision has been made on account of gratuity as none of the employees have put in completed years of Service as required by the payment of Gratuity Act.

xi No provision has been made on account of leave salary as there are no leave to the credit of employees as at the end of the year.

xii Previous Year figures have been regrouped, rearranged or recasted wherever considered necessary.

xiii Informations required to be furnished under paragraph 9BB of Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998 is given in separate Annexure.


Mar 31, 2013

NOTE 1

Based on the information / documents available with the Company, no creditor is covered under Micro, Small and Medium Enterprise Development Act, 2006. As a result, no interest provision/payments have been made by the Company to such creditors, if any, and no disclosures thereof are made in these accounts.

NOTE 2

Loans, advances and sundry debtors and sundry creditors balances are subject to confirmation by the respective parties

NOTE 3

Segment Report :

The Company is engaged in the business of Non-Banking Financial Services and there are no separate reportable segments as per Accounting Standard 17.

NOTE 4

Related Party Disclosure :

As per accounting standard 18 no information for related parties.

NOTE 5

The Company has Complied this information based on the current information in its possession as at 31.03.2013, No Amount due to Micro Small and Medium Entries as on 31.03.2013 RS NIL (PY RS NIL)

NOTE 6

Provision for Outstanding Standard Assets have been made @ 0.25% as per RBI Circular No.: DNBPS. PD. CC. No, 207/03.02.002 /2010-11 dated: 17-01-2011

NOTE 7

No Provision has been made on account of gratuity as none of the employees have put in completed years of Service as required by the Payment of Gratuity Act.

NOTE 8

No provision has been made on account of leave salary as there are no leave to the credit of employees as at the end of the year.

NOTE 9

Previous Year figures have been regrouped, rearranged or recasted wherever considered necessary.

NOTE 10

Information’s required to be furnished under paragraph 9BB of Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998 is given in separate Annexure.

NOTE 11

Till 31St March, 2012 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 31 St March, 2013 the Revised Schedule VI notified under the Companies Act, 1956 has become applicable to the company. The Company has re classified previous year figures as well as those in the bracket to confirm to this year''s classification as per revised Schedule VI. The adoption of revised Schedule VI does not impact recognition and measurement principles followed for preparation of financial statements. However its significantly impacts presentation and disclosure made in the financial statements, particularly presentation of Balance Sheet.


Mar 31, 2012

Not Available


Mar 31, 2011

Not Available

 
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