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Notes to Accounts of Stanrose Mafatlal Investments & Finance Ltd.

Mar 31, 2015

1. CONTINGENT LIABILITIES :

Contingent Liabilities not provided for in respect of disputed demand of Income-tax for which the Company is either in appeal or the effect of the Orders in appeal awaited is of Rs. 4,99,090/- (Previous Year Rs. 1,53,10,513/-).

2. The Company is not holding and accepting deposits. Further, the total assets of the Company being less than Rs. 500 Crores, the Prudential Norms on Credit and Investment Concentration and Capital Adequacy are not applicable to it. The Company has complied with all other norms on Income Recognition, Accounting Standards, Assets Classification, Provisioning for Bad and Doubtful Debts & Standard Assets and other related matters as prescribed under the Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007 as amended.

3. SEGMENT INFORMATION :

The Company is primarily engaged in the business of Intercorporate Investments,Capital Market Activities and Financing. Accordingly there are no separate reportable segments (business and/or geograohical) in accordance with the requirements of Accounting Standard 17 - ''Segment Reporting'',prescribed under Companies (Accounts) Rules, 2014.

4. There are no Micro, Small and Medium Enterprises to whom the Company owes dues which are outstanding as at the Balance Sheet date.

5. LEASES :

The Company has an operating Lease rented facility at Mumbai with lock-in-period of 60 months from the date of its commencement. The future rent payments for the facility are as under:

6. EMPLOYEE BENEFITS :

(a) The accruing liability on account of gratuity (retirement benefit in the nature of defined benefits plan) is accounted as per the Accounting Standard 15 "Employee benefits", prescribed under the Companies (Accounts) Rules. 2014.

7. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.


Mar 31, 2013

1. CONTINGENT LIABILITIES : Contingent

provided 1dr in replace of disputed demand of Income-tax for which the Company is either in appeal or the ells of the dears in appeal awaited is of Rate, 1,53.10,513 (Previous Year Rs. 1,51,11,425).

2 . The Company is not holding and accepting deposits. Further, the Algal assets or the Company being less than Rs. 100 Crones, the Prudential Norms in Credit and Investment Concentration and Capital Adequacy are not applicable to it, The Company has complied with all other Norma on Income Recognition, Accounting Standards, Assets. Classification, Provisioning for Bad and Doubtful Debts 4 Standard Assets arm other related matters as prescribed under the Non-Ban king Financial (Non-Depos.it Accepting or Holding) Companies Prudential Norms (Reserve Bfmk) Directions 2WA as am Ended.

3. SEGMENT INFORMATION : The Company primarily engaged in the business of Interoperate Investments, Capital Market Activities and Financing. Accordingly there are no separate reportable segments (business and/or geographical) in accordance with the requirements of Accounting Standard 17 - "Segment Reporting1,prescribed under Companies (Accounting Standard) Rules, 2D0G.

4. There are no Micro. Small and Medium Entrances to whom the Company owes dues which are outstanding as at the Balance Sheet date.

5. LEASES:

The Company has an operating Lease reined facility at Mumbai with lock-in-period of SO months from the dale of i1$ commencement. The More rent payments for the facility are as under:

6. EMPLOYEE BENEFITS :

(a) The accruing liability on account of gratuity (entire- nent benefit in 1he nature of defined benefits plan) is accounted as per me Accounting Standard 15 (Revised 2005) "Embay benefits, prescribed under the Companies (Accounting Standard) Rs. 2006.

(i) Name of the Loaners named hereinabove has made any investment in the Family Capital five this Company except negligible hiding with storm of IF employees.

(ii) During its year under report there are no one'' transaction; Load Advance act. referred above with Subsidiary, Associates or with firms companies in which Directors are interested.


Mar 31, 2012

Stanplaza Ltd. (SPL) is pursuant to the understanding entered into between the Company, Standard Industries Ltd. (SIL) & SPL. Accordingly, apart from the exposure taken in a Real Estate Business company, SPL has also purchased Land admeasuring around 104 Ares at Pune. SPL will be facilitating on behalf of the Company and SIL, for which it will charge a lump sum fee @ 5% of the benefits to be received. Further the benefits and losses as the case may be, from the said exposure will be shared equally by the Company & SIL.

1. CONTINGENT LIABILITIES : Contingent Liabilities not provided for in respect of disputed demand of Income-tax for which the Company is either in appeal or the effect of the Orders in appeal awaited is of Rs. 1,51,11,425 (Previous Year Rs. 1,40,27,093).

2. The Company is not holding and accepting deposits as also not being systematically important the Prudential Norms on Credit and Investment Concentration and Capital Adequacy are not applicable to it. The Company has complied with all other norms on Income Recognition

Accounting Standards, Assets Classification, Provisioning for Bad and Doubtful Debts & Standard Assets and other related matters as prescribed under the Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions 2007 as amended.

3. SEGMENT INFORMATION : The Company is primarily engaged in the business of Intercorporate Investments, Capital Market Activities and Financing. Accordingly there are no separate reportable segments as per Accounting Standard 17 dealing with Segment Reporting.

4. There are no Micro Small and Medium Enterprises to whom the Company owes dues which are outstanding as at the Balance Sheet date.

5. LEASES :

The Company has an operating Lease rented facility at Mumbai with lock-in-period of 60 months from the date of its commencement. The future rent payments for the facility are as under:

6. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.


Mar 31, 2011

1. Contingent Liabilities not provided for in respect of disputed demand of Income-tax for which the Company is either in appeal or the effect of the Orders in appeal awaited, is of Rs. 1,40,27,093/- (Previous Year Rs. 1,54,14,310/-).

2. The Company is not holding and accepting deposits as also not being systemically important, the Prudential Norms on Credit and Investment Concentration as also Capital Adequacy are not applicable to it. The Company has complied with all other norms on Income Recognition, Accounting Standards, Assets Classification, Provisioning for Bad and Doubtful Debts as also Standard Assets and other related matters as prescribed under the Non- Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007, as amended.

3. The Company is primarily engaged in the business of Intercorporate Investments, Capital Market Activities and Financing and accordingly there are no separate reportable segments as per Accounting Standard 17 dealing with Segment Reporting.

4. There are no Micro, Small and Medium Enterprises, to whom the Company owes dues, which are outstanding as at the Balance Sheet date.

5. During the year, the Company and Standard Industries Ltd.(SIL) have entered into an understanding with Stanplaza Ltd.(SPL), whereby SPL will take exposure in the loan and an equity of a Real Estate business company. As per the said understanding, SPL will be facilitating on behalf of the Company and SIL, for which it will charge a lump sum fee @ 5% of the benefits to be received. Further, the benefits and losses, as the case may be, from the said exposure by SPL shall be shared equally between the Company and SIL, Accordingly in terms of the said understanding the Company has provided an interest free Inter Corporate Deposit of Rs. 4,65,00,000/- to SPL.

6. Related Party Disclosures :

(A) Name of related parties and description of relationship :

(1) Subsidiary Company Stanrose Mafatlal Lubechem Limited (In Provisional Liquidation)

(2) Significant holding by Standard Industries Limited (SIL) Stanrose Mafatlal Investments Stanplaza Limited (wholly owned and Finance Limited (SMIFL) Subsidiary of SIL) Stanrose Fund Management Services Limited

(3) Controlling Companies Shanudeep Pvt. Ltd. having significant holding Sheiladeep Investments Pvt. Ltd. in SMIFL Vinadeep Investments Pvt. Ltd.

Gagalbhai Investments Pvt. Ltd.

Pradeep Investments Pvt. Ltd.

Standard Industries Limited

(4) Enterprises Controlled SMIFL Officers' Superannuation by SMIFL Scheme SMIFL Officers' Provident Fund SMIFL Employees' Provident Fund SHL Employees' Gratuity Fund

7. Previous Years' figures have been regrouped wherever necessary.


Mar 31, 2010

1. Contingent Liabilities not provided for in respect of disputed demand of Income-tax for which the Company is either in appeal or the effect of the Orders in appeal awaited, is of Rs. 1,54,14,310/-. (Previous Year Rs. 1,51,23,453/-).

2. The Company is not holding and accepting deposits as also not being systemically important, the Prudential Norms on Credit and Investment Concentration as also Capital Adequacy are not applicable to it. The Company has complied with all other norms on Income Recognition, Accounting Standards, Assets Classification, Provisioning for Bad and Doubtful Debts and other related matters as prescribed under the Non-Banking Financial (Non- Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007.

3. The Company is primarily engaged in the business of Intercorporate Investments, Capital Market Activities and Financing and accordingly there are no separate reportable segments as per Accounting Standard 17 dealing with Segment Reporting.

4. There are no Micro, Small and Medium Enterprises, to whom the Company owes dues, which are outstanding as at the Balance Sheet date.

5. Related Party Disclosures :

(A) Name of related parties and description of relationship :

(1) Subsidiary Company Stanrose Mafatlal Lubechem Limited (In Provisional Liquidation)

(2) Significant holding by Standard Industries Limited

Stanrose Mafatlal Investments Stanrose Fund Management Services Limited and Finance Limited (SMIFL)

(3) Controlling Companies Shanudeep Pvt. Ltd. having significant holding Sheiladeep Investments Pvt. Ltd. in SMIFL Vinadeep Investments Pvt. Ltd. Gagalbhai Investments Pvt. Ltd. Pradeep Investments Pvt. Ltd.

(4) Enterprises Controlled SMIFL Officers Superannuation Scheme by SMIFL SMIFL Officers Provident Fund

SMIFL Employees Provident Fund SHL Employees Gratuity Fund

6. Previous Years figures have been regrouped wherever necessary.

 
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