Notes to Accounts of Sangam Finserv Ltd.

Mar 31, 2018

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2018

(Amounts in

Note No.	Particulars	As at 31st March, 2018	As at 31st March, 2017
2	Share Capital
	Authorised :
	9500000 (P.Y. 9500000) Equity Shares of Rs. 10/- each	9,50,00,000	9,50,00,000
	Issued, Subscribed and Paid-up:
	9322550 (P.Y. 9322550) Equity Shares of Rs. 10/- each	9,32,25,500	9,32,25,500
		9,32,25,500	9,32,25,500
	a. The number of shares and amount outstanding at the beginning and at the end of the reporting year is same.
	b. The Company has only one class of equity shares having a par value of Rs. 10/- per share. Each holder of equity share is entitled to same right in all the assets.
	c. Detail of shares held by the holding company
	Particulars	No. of Shares Held	No. of Shares Held
	Marigold Investrade Private Limited	5880250	5505850
	d. Shares in the Company held by each shareholders holding more than 5% shares:
	No. of Shareholders each holding more than 5% of the share capital	No. of Shares Held Percentage of holding	No. of Shares Held Percentage of holding
	One shareholder (P.Y. One shareholder)	5880250	5505850
		63.08%	59.06%
3	Reserves & Surplus
	a. Statutory Reserve / Special reserve as per RBI Act	1,95,000	1,95,000
	Add: Set aside during the year	1,47,24,000	NIL
	Closing Balance	1,49,19,000	1,95,000
	b. Amalgamation Reserve (Opening & Closing Balance)	61,26,51,582	61,26,51,581
	c. General Reserve
	Opening Balance	NIL	NIL
	Add: Addition during the year	1,84,04,000	NIL
	Closing Balance	1,84,04,000	NIL
	d. Surplus in Statement of Profit and Loss
	Opening Balance	4,78,21,580	41,57,030
	Add: Net Profit for the current year	7,36,15,247	4,36,64,550
	Amount Available for appropriations	12,14,36,828	4,78,21,580
	Less : Transfer to Reserve Fund in terms of section 45-IC(1) of the Reserve Bank of India Act, 1934	1,47,24,000	NIL
	Less : Transfer to General Reserve	1,84,04,000	NIL
	Dividend	93,22,550	NIL
	Tax on Dividend	18,97,852	NIL
	Closing Balance	7,70,88,426	4,78,21,580
		72,30,63,007	66,06,68,162

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2018

(Amounts in Rs)

Note No.	Particulars	As at 31st March, 2018	As at 31st March, 2017
4	Long-term Borrowings
	Secured*
	- Term Loan from IL&FS Financial Services Ltd	41,03,65,365	50,00,00,000
	Less: Amount disclosed under the head	10,52,80,000	7,89,47,367
	Other Current Liabilities (Refer Note 8)
		30,50,85,365	42,10,52,633

* The term loan from financial institution is repayable in 19 equated quarterly instalments starting from 1st July, 2017. The loan is secured against hypothecation of receivables of loans advanced to Kalyan Sangam Infratech Ltd. and Kalyan Toll Infrastructure Ltd. Current maturity of loan due and payable within a year is classified as other current liabilities (Refer Note 8).

5	Long -term Provisions
	Contingent Provision against Standard Assets	76,56,873	37,05,215
		76,56,873	37,05,215
6	Short-term Borrowings
	Unsecured
	--Loans from Others	2,02,84,16,890	55,58,75,352
		2,02,84,16,890	55,58,75,352
7	Short-term Provisions
	Provision for Tax (net of taxes paid)	78,19,297	53,98,702
		78,19,297	53,98,702
8	Other Current Liabilities
	Current maturity of long-term borrowings (Refer Note 4)	10,52,80,000	7,89,47,367
	Statutory Dues	66,61,385	54,13,453
	Other Payables	3,22,705	3,62,057
	Unclaimed Dividend	72,446	Nil
		11,23,36,536	8,47,22,877

9 Tangible Fixed Assets

(Amounts in Rs)

	GROSS BLOCK			DEPRECIATION			NET BLOCK
Description	As AT 01/04/17	ADDITIONS/ (DEDUCTIONS)	As At 31/03/18	As At 01/04/17	FOR THE YEAR	As At 31/03/18	As At 31/03/18	As At 31/03/17
COMPUTER/ PRINTER	53,025	NIL	53,025	46,639	3,490	50,129	2,896	6,386
AIR CONDITIONER	23,500	NIL	23,500	21,165	1,160	22,325	1,175	2,335
Total	76,525	NIL	76,525	67,804	4,650	72,454	4,071	8,721
Previous Year	76,525	NIL	76,525	55,898	11,906	67,804	8,721	20,627

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH, 2018

Note No.	Particulars	As at 1st March, 2018	As at 31st March, 2017
10	Non-current Investments
	Non-trade Investments
	Unquoted
	Investment in Equity Instruments
	1200 (1200) Eq. Shares of Rs.100/- each of Finworth Investment Pvt. Ltd.	12,00,000	12,00,000
	10000 (10000) Eq. Shares of Rs.10/- each of Parishray Elegancy Pvt. Ltd.	10,00,000	10,00,000
	10000 (10000) Eq. Shares of Rs.10/- each of Pisces Securities Pvt. Ltd.	10,00,000	10,00,000
	6665 (6665) Eq. Shares of Rs. 10/- each of Shiv Shivam Developers Pvt. Ltd	12,99,675	12,99,675
		44,99,675	44,99,675
	Investment in Preference Shares
	2000000 (2000000) Pref. Sh. of Rs. 10/- each of Keti Sangam Infrastructure (India) Limited	20,05,00,000	20,05,00,000
		20,05,00,000	20,05,00,000
	Total Non -current Investments	20,49,99,675	20,49,99,675
11	Deferred Tax Asset
	Major components of Deferred Tax Asset arising on account of temporary timing differences are given below:
	Deferred Tax Asset
	Difference between Book & Tax Depreciation	2,663	2363
	Deferred Tax Liability
	Difference between Book & Tax Depreciation	NIL	NIL
	Deferred Tax Asset (net)	2,663	2,363
12	Long-term Loans & Advances
	(Unsecured, considered good)
	Security Deposits	10,00,000	10,00,000
	Other Loans & Advances
	-- Advance Income Tax (net of Provision)	4,80,294	7,24,146
	-Service Tax Credit Available	NIL	10,441
	-GST Credit Available	17,399	NIL
		14,97,693	17,34,587
13	Cash & Bank Balances
	Cash & Cash Equivalents
	-Cash on Hand	33,061	58,038
	-Balance with Bank
	in Current Account	82,44,509	1,59,027
	Other Bank Balances
	-in Unpaid Dividend Accounts	72,446	NIL
		83,50,016	2,17,065

Note No.	Particulars	As at 31st March, 2018	As at 31st March, 2017
14	Short-term Loans & Advances
	(Unsecured, considered good)
	Loans and Advances
	to Staff	NIL	21,500
	to Others	3,06,27,49,348	1,48,20,64,531
		3,06,27,49,348	1,48,20,86,031
15	Other Current Assets
	Other Receivables	NIL	13,56,00,000
		NIL	13,56,00,000
16	Revenue From Operations
	Interest on Loan	21,58,35,560	9,08,88,000
	Syndication Fees	2,75,15,800	3,61,02,749
		24,33,51,360	12,69,90,749
17	Other Income
	Interest on I.T.Refund	15,847	NIL
		15,847	NIL
18	Employee Benefits Expenses
	Salary, bonus etc.	12,64,736	10,99,865
	Staff Welfare	3,058	1,425
		12,67,794	11,01,290
19	Finance Costs
	Interest on Loan	12,66,27,914	4,62,50,769
	Interest on deferement of advance tax	6,70,225	5,67,827
	Franking Charges and Stamp Duty	10,57,340	10,31,820
	Processing Fees for Loan	NIL	53,26,500
		12,83,55,479	5,31,76,916
20	Other Expenses
	Listing Fees	2,88,359	2,49,038
	Professional Fees	33,75,806	35,29,330
	Legal Fees	53,875	1,00,500
	Depository Charges	48,488	68,701
	Advertisement	35,681	54,743
	Auditors'' Remuneration
	- For Statuory Audit	38,625	25,125
	- For Tax Audit	16,450	10,050
	- For Income Tax Matters	Nil	2,512
	- For Certification & Other Matters	10,700	13,754
	Internal Audit Fees	32,700	17,250
	Secretarial Audit Fees	63,100	29,500

21 Segment Reporting

The Company is engaged solely in financial & investment activity segment and all activities of the Company revolve around this business. As such there are no other reportable segment as defined by Accounting Standard -17 on "Segment Reporting" issued by the Institute of Chartered Accountants of India.

22 As per Accounting Standard -18 on" Related Party Disclosure" issued by the Institute of Chartered Accountants of India, there were no transactions and outstanding year end balance with related parties during the year.

24 A dividend at the rate of Rs. 1.20 per share for the year 2017-18 has been recommended by the Board of Directors for declaration at the ensuing Annual General Meeting. The said dividend and dividend distribution tax on such dividend aggregating to Rs. 1,34,86,593/- is not provided in the accounts in conformity with the Accounting standard (AS 4) as revised.

25 Previous year figures

Previous Year''s figures have been regrouped/reclassified, wherever necessary, to correspond with the current year''s classification/disclosures.

Note No.	Particulars	As at 31st March, 2018	As at 31st March, 2017
	Filing Fees	1,000	10,885
	Printing & Stationery	4,307	5,461
	Office Rent	3,26,063	1,26,300
	Membership Fees	21,800	26,525
	Sundry Expenses	1,14,528	57,214
	Postage and Courier Charges	15,026	4,739
	Profession Tax	2,500	2,500
	Web Designing Charges	7,750	7,500
	Telephone Expenses	3,188	Nil
	Travelling Expenses	4,380	Nil
		44,64,325	43,41,627

23 Earnings PerShare (EPS)

		2017-18	2016-17
a)	Weighted Average Number of Equity Shares outstanding during the year	9322550	9322550
b)	Net Profit after tax available for Equity Shareholders (Rs.)	7,36,15,247	4,36,64,550
c)	Basic and Diluted Earnings Per Share (Rs.)	7.90	4.68
d)	Nominal Value Per Share (Rs.)	10/-	10/-

The Company does not have any outstanding dilutive potential equity shares.

	For and on behalf of the Board
For S. S. Rathi & Co Chartered Accountants	For Suchitra Finance & Trading Co. Ltd.
(Firm Regn. No.108726W)

D. P. Rathi	Vinod K. Sodani	Anjana Soni Thakur
Partner	Chairman	Whole Time Director
Mem. No. 042068	DIN: 00403740	DIN: 00401469
Place : Mumbai	Govinda Soni	Antima Soni
Dated: 30th May, 2018	Company Secretary	Chief Financial Officer

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Mar 31, 2015

1. Previous year Figures

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

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Mar 31, 2014

1 Related Party Disclosures

i. List of Related Party with whom transaction have taken place &

Relationship.

Name of the Related Party Relationship

a.Sangam Infratech Limited Enterprises over which Key

Management Personnel are able to , exercise significant influence

2 Previous year Figures

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

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Mar 31, 2013

1 Segment Reporting

The Company is engaged solely in investment activity segment and all activities of the Company revolve around this business. As such there are no other reportable segment as defined by Accounting Standard 17 on "Segment Reporting" issued by the Institute of Chartered Accountants of India.

2 Related Party Disclosures

i. List of Related Party with whom transaction have taken place & Relationship.

Name of the Related Party Relationship

a. Sangam Infratech Limited Enterprises over which Key

Management Personnel are able to exercise significant influence

3 Previous year Figur

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

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Mar 31, 2012

1. In accordance with the Notification No. DNBS.222/CGM(US)-2011 dated 17.01.2011 issued by the Reserve Bank of India(RBI) vide its directions to all NBFC''s to make a general provision of 0.25% on the standard assets, the Company has recognized Contingent Provisions against Standard Assets as at the year end aggregating Rs. 1,132,501/-(Previous year Rs. 305,883/-).

2. Segment Reporting

The company is engaged solely in investment activity segment and all activities of the Company revolve around this business. As such there are no other reportable segment as defined by Accounting Standard 17 on the "Segment Reporting" issued by the Institute of Company Secretaries of India.

3. Related Party Disclosures

i. List of Related Parties with whom transaction have taken place & Relationship.

Name of the Related Parties Relationship

a. Sangam Infratech Limited Enterprises over which Key Management

Personnel are able to exercise significant influence.

4.Previous Year Figures

The Revised Schedule VI has become effective from April 01, 2011 for the preparation and presentation of financial statements. This has significantly impacted the disclosures 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/disclosures.

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Mar 31, 2011

1) The provision of Provident Fund Act, ESI Act and Payment of Gratuity Act are not applicable to the company since the number of employees is less than those specified in the aforesaid Acts.

2) As identified from available information, there are no dues to small-scale Industrial undertakings, which require disclosure.

3) As the business activity falls within a single segment, the disclosure requirements of Accounting Standard 17 "Segment Reporting", issued by the Institute of Chartered Accountants of India, is not applicable.

4) Previous year figures have been regrouped or rearranged wherever necessary.