Mar 31, 2015
1. The Company has only class of Equity shares having a par value of Rs.10/- per share. Each holder of the equity shares is entitled to one vote per shares. In the event of liquidation of the Company, the holders of equity shares are entitled to receive remaining assets of the Company after distribution of all preferential amounts. The distribution will be in promotion to the number of equity shares held by the shareholders.
2. Pursuant to the enactment of the Companies Act, 2013, the Company has applied the estimated useful lives as specified in Schedule II. According the unamortised carrying value is being depreciated/amortised over the revised/remaining useful lives. The written down value of fixed assets whose lives have expired as at 1st April, 2014 have been adjusted from the retained earnings.
3. The Company has complied with the guidelines issued by the Reserve Bank of India in respect of Prudential Norms for income recognition, accounting standards, capital adequacy and concentration of credit and investments.
The company has transferred a sum of Rs 14700/- (previous year Rs 13000) to Special Reserve as required under section 45-1 C of the Reserve Bank of India Act, 1934
4. FOREIGN CURRENCY TRANSACTION
Earning in Foreign Currency Â Rs. Nil
Expenditure in Foreign Currency Â Rs. Nil
5. CONTINGENT LIABILITIES, PRIOR PERIOD ITEMS AND CHANGES IN ACCOUNTING POLICIES
Contingent Liabilities Â Nil
Changes in Accounting Policies Â Nil
There were no prior period items/adjustments during the year.
6. EARNINGS PER SHARE
Earnings per share are calculated by dividing the profit attributable to the Equity Shareholders by the weighted average number of Equity Shares outstanding during the year. The numbers used in calculating basic and diluted earnings are stated below:
7. RELATED PARTY DISCLOSURES
Related party disclosures as required by Accounting Standard 18 issued by ICAI on "Related Party Disclosures" are given below :
Nature Of Relationship Name of the Party
Subsidiary Company NIL
Associate/Promoter Company Equisec Holdings Private Ltd.
Suyash Shares Private Ltd.
Key Management Personnel Mr. Goutam Kumar Mondal.
Mr. Sushanta Mondal.
Mr. Shiv Kumar Jaria.
Mr. Nikhil Patodia.
There was no transaction with related parties' during the year.
8. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.