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Notes to Accounts of Shree Securities Ltd.

Mar 31, 2015

A. TERMS/ RIGHTS ATTACHED TO EQUITY SHARES

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 company, 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

B. SHARES ISSUED FOR CONSIDERATION OTHER THAN CASH

Out of the above 74800000 (P.Y. 74800000) Equity Shares have been issued for consideration other than cash.

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.

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

The management has assessed that there is no impairment of Fixed Assets requiring

iii provision in the Accounts. Accordingly, there is no debit to the Statement of Profit & Loss for the impairment of Assets.

iv Deferred Taxation :

Company has carry forward losses under Income Tax Laws but in the absence of virtual certainty of sufficient future taxable income, in the opinion of management, deferred tax assets has not been recognized by way of prudence in accordance with AS-22 " Accounting For Taxes On Income " issued by the Institute of Chartered Accountants of India. However, the company will recognize the deferred tax liabilities/assets on the timing differences for the period in which there is virtual certainty of future income.

v 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.

vi Related Party Disclosure :

As per accounting standard 18 the information for related parties is given below:

Name of the related parties

vii 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, Small and Medium Enterprise Development Act, 2006. Amount due to Micro Small and Medium Entries as on 31.03.2015 Rs. NIL ( P.Y. Rs. NIL )

viii 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.

ix Effective from 1st April, 2014, the Company has charged depreciation based on the useful life of the assets as per the requirement of Schedule II of the Companies Act, 2013. It has recomputed the depreciation on various fixed assets in accordance with and in the manner prescribed with Part C of Schedule II of the Companies Act, 2013. The aggregate difference between the depreciation so computed as per the companies Act, 2013 till 31st March, 2014 and the depreciation charged in the accounts till 31st March, 2014 has been debited to the opening balance of profit & Loss Account.

Deferred Tax assets arising there on has been debited to or credited to against the opening balance of Profit & Loss Account.

X The company has made 100% provision in respect of certain Loans & Advances which is considered as loss asset by the management.

xi No provisions has been made for fall, if any, in the market value of quoted securities or break- up value of unquoted securities, held as Investments, diminution where, if any, is not permanent in nature.

xii 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.

xiii 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.

xiv No provision has been made on account of gratuity as there are no employees who have completed the required number of years as per the Payment of Gratuity Act, 1972.

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

xvi Particulars required to be furnished by the NBFCs as per paragraph 13 of Non- Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 issued by the RBI are given as per Annexure attached hereto.

Notes :-

1. As defined in paragraph 2 (1) (xii) of the Non - Banking Financial Companies Acceptance of Public Deposit (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) Directions, 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 debt. However, Market value in respect of quoted Investment and break-up/fair value/NAV in respect on unquoted investments should be disclosed irrespective of whether they are classified as long term or current in (4) above.

fi1l Please read the instructions given below very carefully. If the form is not filed as per instructions, the same will be rejected.

4. The nomination can be made by individuals only. Non individuals including society, trust, body corporate, partnership firm, Karta of Hindu Undivided Family, holder of power of attorney cannot nominate.

5. If the Shares are held jointly all joint holders shall sign (as per the specimen registered with the Company) the nomination form.

6. A nomination must be witnessed by two witnesses. A nomination form not witnessed by two witnesses will be rejected.

7. A minor can be nominated and in that case the name and address of the Guardian shall be given by the holder.

8. The nominee shall not be a trust, society, body corporate, partnership firm, Karta of Hindu Undivided Family, or a power of attorney holder. A non-resident Indian can be a nominee on reparable basis.

9. Transfer of Shares in favor of a nominee shall be a valid discharge by the Company against the legal heir(s).

10. Only one person can be nominated for a given folio.

11. Details of all holders in a folio need to be filed; else the nomination will be rejected.

12. The nomination will be registered only when it is complete in all respects including the signature of (a) all registered holders (as per specimen lodged with the Company) and (b) the nominee/guardian.

13. Whenever the Shares in the given folio are entirely transferred or dematerialised, then this nomination will stand rescinded.

14. The intimation regarding nomination / nomination form shall be filled in duplicate with the Registrars & Transfer Agents of the Company who will return one copy thereof to the Shareholders.

15. Upon receipt of a duly executed nomination form, the Registrars & Transfer Agent of the Company will register the form and allot a registration number. The registration number and folio no. should be quoted by the nominee in all future correspondence.

16. The Company will not entertain any claims other than those of a registered nominee.

17. The nomination can be varied or cancelled by executing fresh nomination form.

18. For shares held in dematerialized form nomination is required to be filled with the Depository Participant.


Mar 31, 2014

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.

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

3 The management has assessed that there is no impairment of Fixed Assets requiring

provision in the Accounts. Accordingly, there is no debit to the Statement of Profit & Loss for the impairment of Assets.

4 Deferred Taxation :

No Provision has been made for Deferred Tax Assets in respect of unaborbed long term capital loss in view of uncertainity that the said asset will be realised in the future.

5 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.

6 Related Party Disclosure :

As per accounting statndard 18 the information for related parties is given below:

Name of the related parties

ASSOCIATES

SUBSIDIARIES:-

1. Avit Exim Limited

2. Coolhut Traders Limited

3. Fabert Merchandise Limited

4. Footflash Trading Limited

5. Gabarial Enclave Limited

6. Gritty Marketing Limited

7. Jatashiv Developers Limited

8. Pawanshiv Niketan Limited

KEY MANAGEMENT PERSONNEL ( KMP )

1. Basant Kumar Sharma RELATIVES OF ( K M P )

7 The Company has Complied this information based on the current information in its possession. As at 31.03.2014, No supplier has intimated the Company about its status as a Micro or Small enterprise or its Registration with the appropriate authority under Micro, Small and Medium Enterprise Development Act, 2006. Amount due to Micro Small and Medium Enterprises as on 31.03.2014 RS. NIL ( PY RS NIL )

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.

9 No provision has been made on account of gratuity as there are no employees who have completed the required number of years as per the Payment of Gratuity Act, 1972.

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

11 Particulars required to be furnished by the NBFCs as per paragraph 13 of Non- Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 issued by the RBI are given as per Annexure-B attached hereto.

Note :

1 The above cash flow statement has been prepared under the indirect Method as set out in the Accounting Standard - 3 on Cash Flow Statements


Mar 31, 2013

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.

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

3 The management has assessed that there is no impairment of Fixed Assets requiring provision in the Accounts. Accordingly, there is no debit to the Statement of Profit & Loss for the impairment of Assets.

4 Deferred Taxation :

No Provision has been made for Deferred Tax Assets in respect of unaborbed long term capital loss in view of uncertainty that the said asset will be realised in the future.

5 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.

6 Related Party Disclosure :

As per accounting statndard 18 the information for related parties is given below:

Name of the related parties

ASSOCIATES

SUBSIDIARIES:-

1. Avit Exim Limited

2. Coolhut Traders Limited

3. Fabert Merchandise Limited

4. Footflash Trading Limited

5. Gabarial Enclave Limited

6. Gritty Marketing Limited

7. Jatashiv Developers Limited

8. Pawanshiv Niketan Limited

KEY MANAGEMENT PERSONNEL ( KMP )

1. Basant Kumar Sharma RELATIVES OF ( K M P )

RELATED PARTY TRANSACTION

7 The Company has Complied this information based on the current information in its possession. As at 31.03.2013, No supplier has intimated the Company about its status as a Micro or Small enterprise or its Registration with the appropriate authority under Amount due to Micro Small and Medium Enterises as on 31.03.2013 '' NIL ( PY '' NIL )

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.

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

12 Particulars required to be furnished by the NBFCs as per paragraph 13 of Non-Banking Financial (Non- Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 issued by the RBI are given as per Annexure-B attached hereto.

TERMS/ RIGHTS ATTACHED TO EQUITY SHARES

The Company has only one class of equity share having par value of ''10 /- per share . Each holder of Equity share is entitled to one vote per share

In the event of liquidation of the company, 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

SHARES ISSUED FOR CONSIDERATION OTHER THAN CASH

Out of the above 74800000 (P.Y. 74800000) Equity Shares have been issued for consideration other than cash


Mar 31, 2012

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.

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

3 The management has assessed that there is no impairment of Fixed Assets requiring provision in the Accounts. Accordingly, there is no debit to the Profit & Loss Account for the impairment of Assets.

4 Deferred Taxation :

The Principal components of Deferred Tax Liabilities/(Assets) are :

No Provision has been made for Deferred Tax Assets in respect of assessed unabsorbed speculation losses and unaborbed long term capital loss in view on uncertainity that the said asset will be realised in the future.

5 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.

6 Related Party Disclosure :

As per accounting statndard 18 the information for related parties is given below:

Name of the related parties

ASSOCIATES

SUBSIDIARIES:-

1. Avit Exim Limited

2. Coolhut Traders Limited

3. Fabert Merchandise Limited

4. Footflash Trading Limited

5. Gabarial Enclave Limited

6. Gritty Marketing Limited

7. Jatashiv Developers Limited

8. Pawanshiv Niketan Limited

KEY MANAGEMENT PEROSNNEL ( KMP )

1. Basant Kumar Sharma RELATIVES OF ( K M P )

7 The Company has Complied this information based on the current information in its possession. As at 31.03.2012, No supplier has intimated the Company about its status as a Micro or Small enterprise or its Registration with the appropriate authority under

Amount due to Micro Small and Medium Enterises as on 31.03.2012 Rs. NIL (PY Rs. NIL )

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.

9 During the year the following companies have become Wholly Owned Subsidiaries of the company:

Name of the Company Date of becoming WOS

1. Avit Exim Limited 02.01.2012

2. Coolhut Traders Limited 02.01.2012

3. Fabert Merchandise Limited 02.01.2012

4. Footflash Trading Limited 02.01.2012

5. Gabarial Enclave Limited 02.01.2012

6. Gritty Marketing Limited 05.01.2012

7. Jatashiv Developers Limited 29.03.2012

8. Pawanshiv Niketan Limited 30.03.2012

10 Provisioning as per AS 29 Amount

TAXATION

Opening 69,949

Add: Additions 80,637

Less: Adjustments (64,111)

Closing 86,475

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

12 Particulars required to be furnished by the NBFCs as per paragraph 13 of Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 issued by the RBI are given as per Annexure-B attached hereto.

13 Till 31s1 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

TERMS/ RIGHTS ATTACHED TO EQUITY SHARES

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

SHARES ISSUED FOR CONSIDERATION OTHER THAN CASH

Out of the above 74800000 (P.Y. 74800000) Equity Shares have been issued for consideration other than cash

 
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