Mar 31, 2015
1. Basis Of Accounting
The Financial statements are prepared under historical cost convention,
an an accrual basis and in accordance with relevant presentational
requirements of the Companies Act, 2013 and the applicable mandatory
Accounting Standards as prescribed under section 133 of Companies Act,
2013 read with rule 7 of the Companies (Accounts) Rules, 2014,
2. Inventories:
Inventories of shares are valued at cast computed on FIFO Basis nr fair
value, which ever is lower.
3. Recognition of income and Expenditure ;
Income and expenditure are accounted for on accrual basis. Interest
income is recognized on a time proportion basis taking ntb account the
amount outstanding and the rate applicable. Dividend Income s
recognized when the shareholder's rignt to receive payment is
established by the balance sheet date.
4. Depreciation on Fhred Assets:
Depreciation on Fixed Assets has been provided based on useful life
assignee to each asset prescribed m accordance with Part MC' of
Schedule-!! of the Compames Act, 2013.
5. Fixed Assets:
Fixed Assets are stated at cost less accumulated depreciation and
impairment losses, if any.
Cost comprises the purchase price and any attributable cost of bringing
the asset to its working condit on for its intended use.
6. Impairment of Assets
. The carrying amounts of assets are reviewed at each balance sheet
date if there S any indication of impairment based on Intcrnal/externai
factors. An impalmtent loss is recognized wherever the carrying
annoLint of an asset exceeds its recoverable amount.
E The recoverable amount is the greater of the asset's net selling price
end value in use. in assessing the value in use, the estimated future
cash flows are discounted :o their u Op £ present value at the weighted
average cost of capita:, ii After impairment, depreciation is provided
on the revised carrying amount of the assest value.
7. INVESTMENTS
investments that are readily realizable and intended to be held tor rot
more then 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 mdivicual
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.
8. Earning per share:
Earnings per share are calculated by dividing the net profit or loss
for the year attributable to equity shareholdc's, by the weighted
average number of equty shares outstanding during the year.
Far the purpose of calculating diluted earnings per sha-'e, the net
profit or loss for the year attributable to equity shareholders and
weighted average number of shares outstanding during the year is
adjusted for the effects ct all dilutive potential equity shares.
9. Ptgvifripn and Deferred Tan ;
The Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
Deferred rax 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, lbe
Deferred Tax Asset is recognized and earned forward o-nly to the extent
that there is a reasonable certainty that the assets will be realized
in future.
10 Contingencies!
These are disclosed ay way of notes on the Balance sheet. Provisions is
made in the accounts in respect of those contingencies winch are likely
to materialize into liabilities after the year end , ti I the
finalization of accounts, and material effect on the position stated
Balance Sheet .
11. PROVISIONING FOR STANDARD ASSETS :
The Reserve Btink Of India vide Notification No DNSS 223/GSM (US) 2011
DATED T - JANUARY, 2011 has issued direction to all NBFCs to make
provision of 0.25% on STANDARD ASSETS with immedate effect. Accordingly
the Company has made provision
Mar 31, 2014
1. Basis of Accounting ;
The financial statements are prepared under historical cost convention
, on an accrual basis and in accordance with the generally accepted
accounting principles in India , tne applicable mandatory Accounting
Standards as notified by the Companies ( Accounting Standard ) Rules ,
2006 and the relevant provisions of the Companies Act, 1956.
2. Inventories:
Inventories of shares are valued at Cost computed on FIFO Basis or fair
value, which ever is lower,
3. Reconition Of Income and Expenditure;
Income and expenditure are accounted for on accrual basis, Interest
income Is -ccognized on a sne proportion btisia Lakiuy into dULUUin die
amount outstanding and the rate appl cable. Dividend income is
recognized when the shareholder's right to receive payment Is
established by the balance sheet date.
4. Depreciation Oft Fixed Assets:
Depreciation has been provided on written down vaiyy method at the
rates and in the manner orescribed in schedule XIV of the Companies
Act, 1956,
5. Fixed Assets:
Fixed Assets are stated at cost ess accumulated depreciation and
impairment losses, ir any. cost comprises rne purchase price and any
attributable cost of bringing the asset to its working condition for
its intended use,
6. impairment ot Assets:
1. The carrying amounts of assets are reviewed at each balance sheet
date if there is any Indication af impairment based on
internai/external factors An impairment loss is recognized wherever the
carrying amount of an asset exceeds its recoverable amount. The
recoverable amount is the greater of die asset's net selling price and
value In use. In assessing the value n use, the estimated future cash
Flows are discounted to their present value at the weighted average
cost of capital.
II. After impairment, depreciation is orovided on the revised carrying
amount the assets over its remaining useful life.
7. Investment:
Investments that are readily realizable ard intended to be held for not
more than a year are classified as Current Investments. AH other
Investments are classified as Non Current Investments, Current
Investments are stated at lower of cost and market rate on ar.
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.
8. Earinig as get share:
r Earnings per share is calculated by dividing the net profit or less
for the year attributable to equity shareholders, by the welghtec
average number of equity shares outstanding during the year,
For the purpose of calculating diluted earnings per snare, me net
profit or less tor
the year attrlhutahle to prinlly shareholders and weighted average
number oF shares outstanding during the year is adjusted for the
effects of all dilutive potential equity shares.
9. Provision and Deferred Tatto
The Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Art, 1561.
Deferred lax resulting from '"timings difference" between book and
taxable profit Is accounted for using the tax rates and laws, that nave
been enacted or substantially enacted as on the Balance Sheet date. The
Deferred Tax Asset Is recognized and carried forward only to thy extent
that there is a reasgnatile certainty mat me assets will he realized In
future.
10. Contingencies:
Tltese are disclosed by way af notes or, the Balance sheet. Provisions
is made In the accounts In respect of these contingencies which are
likely to materialize into liabilities after the year end , till the
finalization of accounts and material effect on the positron stated in
the Balance Sheet .
Mar 31, 2012
1. Basis of Accounting :
The financial statements are prepared under historical cost convention
, on an accrual basis and in accordance with the generally accepted
accounting principles in India , the applicable mandatory Accounting
Standards as notified by the Companies ( Accounting Standard ) Rules ,
2006 and the relevant provisions of the Companies Act , 1956.
2. Inventories:
Inventories of shares are valued at cost computed on FIFO Basis or fair
value, which ever is lower.
3. Recognition of Income and 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 payment is
established by the balance sheet date.
4. Depreciation on Fixed Assets:
Depreciation has been provided on written down value method at the
rates and in the manner prescribed in schedule XIV of the Companies
Act, 1956.
5. Fixed Assets:
Fixed Assets are stated at cost less accumulated depreciation and
impairment losses, if any. Cost comprises the purchase price and any
attributable cost of bringing the asset to its working condition for
its intended use.
6. Impairment of Assets:
I. The carrying amounts of assets are reviewed at each balance sheet
date if 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 recoverable amount. The
recoverable amount is the greater of the asset''s net selling price and
value in use. In assessing the value in use, the estimated future cash
flows are discounted to their present value at the weighted average
cost of capital.
II. After impairment, depreciation is provided on the revised carrying
amount of the assets over its remaining useful life.
7. Earnings 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 is
adjusted for the effects of all dilutive potential equity shares.
8. Provision and Deferred Tax :
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.
9. 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 .
Mar 31, 2011
1. 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
mandatary accounting standards
2. Fixed Assets
Fixed Assets are stated at Cost less Depreciation.
3. Depreciation
Depreciation on Fixed Assets are provided on Written Down Value Method
at the rates and in the manner as prescribed in the schedule XIV to the
Companies Act, 1956
A. Inventories
Inventories of Quoted Shares are valued at lower of Cost or Market
Value. Unquoted Shares are valued at Cost.
5. Recongnition of Income & Expenditure
Income & Expenditure are accounted for on accrual basis.
6. Contingent Liabilities
Contingent LiabiIity, if any, is disclosed by way of note in the
account.
7. Taxes on Income
Current Tax is determined as tie amount of tax payable in respect of
taxable income for tire year Deferred Tax is recognised, subject to
cons deration 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 capable
of reversal in one or more periods,
8- Segment Accounting
The Company is engaged in the business of Non-Banking Financial
Services and there are no separate reportable segments as per the
accounting standard -17 issued by the Institue of Chartered Accountants
of India
9. Retirement Benefits
Retirement Benefits are not provided for in the books. It is provided
as and when it arises.