Mar 31, 2015
01. ACCOUNTING CONVENTIONS
The Financial Statements are prepared on Historical Cost Convention.
Financial Statements are prepared in accordance with relevant
presentational requirements of the Companies Act 2013 and applicable
mandatory Accounting Standards as prescribed under section 133 of
Companies Act 2013 read with rule 7 of the Companies (Accounts) Rules,
2014.
02. FIXED ASSETS
Fixed assets are stated at cost less accumulated depreciation and
impairment if any. Cost comprises the purchase price inclusive of
duties, taxes, and incidental expenses up to the date; the asset is
ready for its intended use.
03. DEPRECIATION
Depreciation on Fixed Assets has been provided based on useful life
assigned to each asset prescribed in accordance with Part- "C" of
Schedule-II of the Companies Act 2013.
Depreciation on fixed assets added / disposed off during the year, is
provided on pro-rata basis with reference to the date of addition /
disposal.
In a case of impairment, if any, depreciation is provided on the
revised carrying amount of the assets over their remaining useful life.
04 IMPAIRMENT OF FIXED ASSETS
The carrying amounts of assets are reviewed at each balance sheet date
to determine whether there is any indication of impairment based on
internal / external factors. An impairment loss is recognized wherever
the carrying amount of an asset exceeds its receive after impairment,
depreciation is provided on the revised carrying amount of the assets
over its remaining useful life.
05 EARNING PER SHARE
Earnings per share is calculated by dividing the net profit or loss for
the year attributable to equity shareholders, by the weighted average
number of equity shares outstanding during the year.
For the purpose of calculating diluted earnings per share, the net
profit or loss for the year attributable to equity shareholders and
weighted average number of shares outstanding during the year are
adjusted for the effects of all dilutive potential equity shares.
06 INVESTMENTS
Investments that are readily realizable and intended to be held for not
more than a year are classified as Current Investments. All other
Investments are classified as Non Current Investments.
I Investments that are readily realizable and intended to be held for
not more than year are classified as Current Investments. All other
Investments are classified as Non Current Investment.
Current Investments are stated at lower of cost and market rate on an
individual investment basis. Non Current Investments are considered 'at
cost' on individual investment basis, unless there is a decline other
than temporary in the value, in which case adequate provision is made
against such diminution in the value of investments.
07 RECOGNITION OF INCOME & EXPENDITURE
Income and expenditure are accounted for on accrual basis . Interest
income is recognized on a time proportion basis taking into account the
amount outstanding and the rate applicable. Dividend income is
recognized when the shareholder's right to receive.
08 CONTINGENCIES:
These are disclosed by way of notes on the Balance sheet. Provisions is
made in the accounts in respect of those contingencies which are likely
to materialize into liabilities after the year end, till the
finalization of accounts and material effect on the position stated in
the Balance Sheet
09 PROVISIONING FOR STANDARD ASSETS :
The Reserve Bank of India vide Notification No DNBS 223/CGM (US) 2011
DATED 17 JANUARY, 2011 has issued direction to all NBFCs to make
provision of 0.25% on STANDARD ASSETS with immediate effect.
Accordingly the Company has made provision @0.25% on Standard Assets in
accordance therewith.
10 The Provision for current tax is made after taking into
consideration benefits admissible under the provisions of the Income
Tax Act, 1961.
Deferred Tax resulting from "timings difference" between book and
taxable profit is accounted for using the tax rates and laws that have
been enacted or substantially enacted as on the Balance Sheet date. The
Deferred Tax Asset is recognized and carried forward only to the extent
that there is a reasonable certainty that the assets will be realized
in future.
11 PRELIMINARY EXPENSES
Preliminary Expense is amortized over a period of Five years.
12 TAXES ON INCOME
Current Tax is determined as the amount of tax payable in respect of
taxable income for the year.
Deferred Tax is recognized, subject to consideration of prudence, in
respect of I deferred tax assets / liabilities on timing difference,
being the difference between j taxable income and accounting income
that originated in one period and are capable of reversal in one or
more subsequent periods.
Mar 31, 2014
01. ACCOUNTING CONVENTIONS
The Financial Statements are prepared on Historical Cost Convention.
Financial Statements are prepared in accordance with relevant
presentational requirements of the Companies Act, 1956 and applicable
mandatory Accounting Standards.as notified by the Comp
02. FIXED ASSETS
Fixed assets are stated at cost less accumulated depreciation and
impairment if any. Cost comprises the purchase price inclusive of
duties, taxes, and incidental expenses upto the date, the asset is
ready for its intended use..
03. DEPRECIATION
Depreciation on Fixed Assets are provided on Written Down Value Method
at the rates prescribed in the Schedule-XIV of the Companies Act, 1956.
Depreciation on fixed assets added / disposed off during the year, is
provided on pro-rata basis with reference to the date of addition /
disposal.
In a case of impairment, if any, depreciation is provided on the
revised carrying amount of the assets over their remaining useful life.
04 IMPAIRMENT OF FIXED ASSETS
The carrying amounts of assets are reviewed at each balance sheet date
to determine whether there is any indication of impairment based on
internal/ external factors. An impairment loss is recognized wherever
the carrying amount of an asset exceeds its receive after impairment,
depreciation is provided on the revised carrying amount of the assets
over its remaining useful life.
05 EARNING PER SHARE
Earnings per share is calculated by dividing the net profit or loss for
the year attributable to equity shareholders, by the weighted average
number of equity shares outstanding during the year
For the purpose of calculating diluted earnings per share, the net
profit or loss for the year attributable to equity shareholders and
weighted average number of shares outstanding during the year are
adjusted for the effects of all dilutive potential equity shares.
06 INVESTMENTS
Investments that are readily realizable and intended to be held for not
more than a year are classified as Current Investments. All other
Investments are classified as Non-Current Investments. Current
Investments are stated at lower of cost and market rate on an
individual investment basis. Non-Current Investments are considered ''at
cost'' on individual investment basis, unless there is a decline other
than temporary in the value, in which case adequate provision is made
against such diminution in the value of investments.
07 RECOGNITION OF INCOME & EXPENDITURE
.Income and expenditure are accounted for on accrual basis . Interest income is
recognized on a time proportion basis taking into account the amount
outstanding and the rate applicable. Dividend income is recognized when
the shareholder''s right to receive
08 CONTINGENCIES :
These are disclosed by way of notes on the Balance sheet. Provisions is
made in the accounts in respect of those contingencies which are likely
to materialize into liabilities after the year end, till the
finalization of accounts and material effect on the position stated in
the Balance Sheet
09 PROVISIONING FOR STANDARD ASSETS :
The Reserve Bank of India vide Notification No DNBS 223/CGM (US) 2011
DATED 17 JANUARY,2011 has issued direction to all NBFCs to make
provision of 0.25% on STANDARD ASSETS with immediate effect.
Accordingly the Company has made provision @ 0.25% on Standard Assets
in accordance therewith.
10 PROVISIONING FOR DEFERRED TAXES :
The Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
Deferred Tax resulting from "timings difference" between book and
taxable profit is accounted for using the tax rates and laws that have
been enacted or substantially enacted as on the Balance Sheet date. The
Deferred Tax Asset is recognized and carried forward only to the extent
that there is a reasonable certainty that the assets will be realized
in future.
11 PRELIMINARY EXPENSES
Preliminary Expense is amortized over a period of Five years.
12 TAXES ON INCOME
Current Tax is determined as the amount of tax payable in respect of
taxable income for the year.
Deferred Tax is recognized, subject to consideration of prudence, in
respect of deferred tax assets / liabilities on timing difference,
being the difference between taxable income and accounting income that
originated in one period and are capable of reversal in one or more
subsequent periods.
The Company has only one class of equity share having par value of Rs
10 / per share . Each holder of Equity share is entitled to one vote
per share.
In the event of liquidation of the ompany , the holder 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 share held by the
shareholders.
As per the records of the Company , including its Register of Members
and other declarations received from the shareholders regarding
beneficial interest , the above shareholders represents legal ownership
of shares
Mar 31, 2013
01. ACCOUNTING CONVENTIONS
The Financial Statements are prepared on Historical Cost Convention.
Financial Statements are prepared in accordance with relevant
presentational requirements of the Companies Act, 1956 and applicable
mandatory Accounting Standards.as notified by the Comp
02. FIXED ASSETS
Fixed assets are stated at cost less accumulated depreciation and
impairment if any. Cost comprises the purchase price inclusive of
duties, taxes, and incidental expenses upto the date, the asset is
ready for its intended use..
03. DEPRECIATION
Depreciation on Fixed Assets are provided on Written Down Value Method
at the rates prescribed in the Schedule-XIV of the Companies Act, 1956.
Depreciation on fixed assets added / disposed off during the year, is
provided on pro-rata basis with reference to the date of addition /
disposal.
In a case of impairment, if any, depreciation is provided on the
revised carrying amount of the assets over their remaining useful life.
04 IMPAIRMENT OF FIXED ASSETS
The carrying amounts of assets are reviewed at each balance sheet date
to determine whether there is any indication of impairment based on
internal/external factors. An impairment loss is recognized wherever
the carrying amount of an asset exceeds its receive after impairment,
depreciation is provided on the revised carrying amount of the assets
over its remaining useful life.
05 EARNING PER SHARE
Earnings per share is calculated by dividing the net profit or loss for
the year attributable to equity shareholders, by the weighted average
number of equity shares outstanding during the year For the purpose of
calculating diluted earnings per share, the net profit or loss for the
year attributable to equity shareholders and weighted average number of
shares outstanding during the year are adjusted for the effects of all
dilutive potential equity shares.
06 INVESTMENTS
Investments are long-term investments, hence valued at cost.
07 RECOGNITION OF INCOME & EXPENDITURE
Income and expenditure are accounted for on accrual basis . Interest
income is recognized on a time proportion basis taking into account
the amount outstanding and the rate applicable. Dividend income is
recognized when the shareholder''s right to receive
08 CONTINGENCIES :
These are disclosed by way of notes on the Balance sheet. Provisions is
made in the accounts in respect of those contingencies which are likely
to materialize into liabilities after the year end, till the
finalization of accounts and material effect on the position stated in
the Balance Sheet
09 PROVISIONING FOR STANDARD ASSETS :
The Reserve Bank of India vide Notification No DNBS 223/CGM (US) 2011
DATED 17 JANUARY,2011 has issued direction to all NBFCs to make
provision of 0.25% on STANDARD ASSETS with immediate effect.
Accordingly the Company has made provision @ 0.25% on Standard Assets
in accordance therewith.
10 PROVISIONING FOR DEFERRED TAXES :
The Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
Deferred Tax resulting from " timings difference " between book and
taxable profit is accounted for using the tax rates and laws that have
been enacted or substantially enacted as on the Balance Sheet date .
The Deferred Tax Asset is recognized and carried forward only to the
extent that there is a reasonable certainty that the assets will be
realized in future.
11 PRELIMINARY EXPENSES
Preliminary Expense is amortised over a period of Five years.
12 TAXES ON INCOME
Current Tax is determined as the amount of tax payable in respect of
taxable income for the year. Deferred Tax is recognised, subject to
consideration of prudence, in respect of deferred tax assets /
liabilities on timing difference, being the difference between taxable
income and accounting income that originated in one period and are
capable of reversal in one or more subsequent periods.
Mar 31, 2012
01. ACCOUNTING CONVENTIONS
The Financial Statements are prepared on Historical Cost Convention.
Financial Statements are prepared in accordance with relevant
presentational requirements of the Companies Act, 1956 and applicable
mandatory Accounting Standards.as notified by the Company.
02. FIXED ASSETS
Fixed assets are stated at cost less accumulated depreciation and
impairment if any. Cost comprises the purchase price inclusive of
duties, taxes, and incidental expenses upto the date, the asset is
ready for its intended use..
03. DEPRECIATION
Depreciation on Fixed Assets are provided on Written Down Value Method
at the rates prescribed in the Schedule-XIV of the Companies Act, 1956.
Depreciation on fixed assets added / disposed off during the year, is
provided on pro-rata basis with reference to the date of addition /
disposal.
In a case of impairment, if any, depreciation is provided on the
revised carrying amount of the assets over their remaining useful life.
04 IMPAIRMENT OF FIXED ASSETS
The carrying amounts of assets are reviewed at each balance sheet date
to determine whether there is any indication of impairment based on
internal/external factors. An impairment loss is recognized wherever
the carrying amount of an asset exceeds its recceive After impairment,
depreciation is provided on the revised carrying amount of the assets
over its remaining useful life.
05 EARNING PER SHARE
Earnings per share is calculated by dividing the net profit or loss for
the year attributable to equity shareholders, by the weighted average
number of equity shares outstanding during the year for the purpose of
calculating diluted earnings per share, the net profit or loss for the
year attributable to equity shareholders and weighted average number of
shares outstanding during the year are adjusted for the effects of all
dilutive potential equity shares.
06 INVESTMENTS
Investments are long-term investments, hence valued at cost.
07 RECOGNITION OF INCOME & EXPENDITURE
Income and expenditure are accounted for on accrual basis . Interest
income is recognized on a time proportion basis taking into account the
amount outstanding and the rate applicable. Dividend income is
recognized when the shareholder''s right to receive
08 CONTINGENCIES :
These are disclosed by way of notes on the Balance sheet. Provisions is
made in the accounts in respect of those contingencies which are likely
to materialize into liabilities after the year end, till the
finalization of accounts and material effect on the position stated in
the Balance Sheet
09 PROVISIONING FOR STANDARD ASSETS :
The Reserve Bank of India vide Notification No DNBS 223/CGM (US) 2011
DATED 17 JANUARY,2011 has issued direction to all NBFCs to make
provision of 0.25% on STANDARD ASSETS with immediate effect.
Accordingly the Company has made provision @ 0.25% on Standard Assets
in accordance therewith.
10 PROVISIONING FOR DEFERRED TAXES :
The Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
Deferred Tax resulting from " timings difference " between book and
taxable profit is accounted for using the tax rates and laws that have
been enacted or substantially enacted as on the Balance Sheet date .
The Deferred Tax Asset is recognized and carried forward only to the
extent that there is a reasonable certainty that the assets will be
realized in future.
11 PRELIMINARY EXPENSES
Preliminary Expense is amortised over a period of Five years.
12 TAXES ON INCOME
Current Tax is determined as the amount of tax payable in respect of
taxable income for the year. Deferred Tax is recognised, subject to
consideration of prudence, in respect of deferred tax assets /
liabilities on timing difference, being the difference between taxable
income and accounting income that originated in one period and are
capable of reversal in one or more subsequent periods.
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