Mar 31, 2015
1. TERMS/ RIGHTS ATTACHED TO EQUITY SHARES
Thu Com-jdnv nas only one Hass ef equity sharr- having nar value of fts
lu / oer share . Each he her u' Eq:j Ly share is enlitled to one vote
per share
In the event of I ciuidation of the ompany , Lie holds- of eguty shares
will he entitled to recuve remaining assets, of the Company niter
distribution of all pneferentia amourts , The Distribution wiJl he in
proportion to [he number ct equity share held by the
shareholders
Based or the information j documents available with the Company, no
credito is covered under Mier< Small and Med um Enterprise Deve opment
Act, 200£j. As a result, no interest pnovisicrs/payments hav been made
by the Company to SJCh creditors for the year ended 31st March 2015.
2 Loans & advances hstances are subject to confirmation by the
respective parties -
3 Segment Report :
The Company is engaged in the business of Non-Banking Financial
Services aid there are nn senaral reoortabie seaments as per Acoountinq
standard 12
4 Related Party Disclosure
As per accounting stamdard Iti the information for related parties is
given below:
Name of the related parties
ASSOCIATES - None
WHOLLY OWNED SU BBIDIAHIESr-
1- FOREMOST BARTER LIMITED
2. FOREMOST DEA-COMM LTD
3. HULBERT TRADING LTD
4. HULBERT VINIMAY LTD
5. JAG MATA MERCANTILE LTD
6. J ASM ATA VINTPADE LTD
7. KQTTfiATAN commercial ltd s, kotiratan marketing ltd
9.MANGA. DHAM AGENTS LTD
10. KANGALDHAM suppliers
11. MANGAL5UCHA BARTER LTD
12 MANGALSUDMA COMMERCIAL LTD
13. NIRMALKUNJ AGENCY LTD
14. NiKMAL AGENCY TRADECOMM I.TO
15. N1TYADHARA BARTER LTD
16. NITYADHARA I RADERS LTD
17. OVER GROW BARTER LTD
18. OVER GROW TIE-UP LTD
19. SARVLOK COMMERCIAL LTD 2b. SARVLOK DEALCOM LTD
21. SPEED FAST MAKKL11NG LID
22. SPEED FAST VIPtCOM LTD
23. VISHAWDHAM TR A DELINK LTD
24. VISHAWDHAM MERCHANTS LTD
5. The Com pan v has Compiled this informal on based on the current
information In its possession. As at 31.03.2015, Mo supplier has
intimated the Company about its status as a Micro or Sma' enterprise Or
its ReqLstrat on with the appropriate authority under Micro, Smali one
Medium Enterprise Development Amount due to Micro 5mnil and Medium
Entcrlscs as or 3l.03.2QlS fts. Nit ( PY hs. h [L )
6. The Financial Statements and Notes on Accounts hes been prepared as
per the Companies Act, 2013 with their schedu le as the same is
effective from 1st April, 2Q14.
7. 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 w-ih
and in the manner prescribed with Fart C of Schedule II of the
Companies Act, 2tllv. he aggregate difference between the depreciation
so computed as.per the companies Act, 2013 till list March, 2014 and
the depreciation charged In the acccunts till 31st March, 2014 has been
debited in the opening balance nf profit 6 Loss Account.
8. Prov sion for taxation on Income far the year has seen made under
the tax calculated on i returns under normal computation as per income
tax act being higher than the tax computed under section I ;5JB of the
i neeme tax act.
9 The management has assessed that there fs tid Impairment of Fixed
assets requiring provisions in the accounts. Accordingly, there is no
debit to the Prof't & Loss Account for the Impairment of assets.
10. Deterred Taxation
The company will recog on I se the deterred tax Uabi1|Bes/ossetS on the
timing differences for toe period :n which there is virtual certainty
of future income by way of prudence In accordance with AS-22 "
Accounting For Taxes On Income * issued by the Institute of Chaffered
Accountants of Jndia.
11 No Provision has been made on account of gratuity as none of the
employees have put In completed years of Service as required by the
payment of Gratuity Act.
12 No provision has been made on account of save salary as there are
no leave to the credit cf employees as at the end of the year
13 Previous Year figures have been regrouped, rearranged Or recasted
whenever considered necessary,
14 Informations regie-ed to be furnished under paragraph. 963 of
Non-Banking F iiantial Companies Prudential Norms (Reserve Gan 10
Directions, 1996 is given in separate Annexure.
Mar 31, 2014
1. TERMS/ RIGHTS ATTACHED to EQUTTY SHARES
The company has onl y one class of equity share navirig par value or Rs
To 7 per snare . Eaui holder of tequity shareentitled to one vote oer
share
In the event of liquidation of the ompany , the holder of equity shares
Will be tiiiliLled .u recice remaining assets of the Company after
distribution or all preferential amounts , The DlsmblTOOn will in
prounoun to the number of equity held by tne shareholders,
2. OTHER NOTES ON ACCOUNTS
1. Based on the Inf urination / documents available with the Company,
no creditor is covered under Micro, 5maH and Medium Enterprise
Development Act, 2006. As a result, no interest provislon/payments
have been made by the Company to such creditors, f any, and no
disclosures thereof are made in these accounts.
2 Provision for taxation for the year has been prov ded for under the
normal provisions of Income Tax being higher than the rax computed
under the provisions of See 11HB.
3 Mo provision has been made on account nf gratuity .11 none of the
employ have put In completed years of service as required by the
payment of gratuity act.
4. 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.
5. The Company Is engaged in the business of Non Banking financial
business and there is no separate reportable segment as per Accounting
Standard 17 - "Segment Reporting" notified by the Companies Accounting
Standard Rules, 2006.
6. 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.
7. The figures of previous year have been regrouped and / or
rearranged wherever necessary.
8 RELATED PARTY TRANSACTIONS
Related Party Disclosure as required by Accounting Standard * 18 are
given below:
a] Iist nf rrelated parties:
Subsidiaries
1. Foremost Barter Ltd
2. Foremost Dealcomm Ltd
3. Hulbort Trading Ltd
4. Hulbert Vlnimay Ltd
5. Jagmata Mercantile Ltd
6. Jagmata Vintrade Ltd
7. Kotiratan Commercial Ltd
8. Kotiratan Marketing Ltd
9. Mangaldham Agents Ltd
10. Mangaldham Suppliers Ltd
11. Mangalsudha Barter Ltd
12. Mongalsudha Commercial Ltd
13. NirmalKun) Agency Ltd
14. NirmalKunj Tradecom Ltd
15. Nityadhara Barter Ltd
16. Nltyadhara Traders Ltd
17. Over Grow Barter Ltd
18 Over Grow Tie-up Ltd
19 Sarvlok Commercial Ltd
20 Sarvlok Dealcom Ltd
21 Speed Fast Marketing Ltd
22 Speed Fast Vincom Ltd
23 Vishawdham Tradelmk Lid
24 Vishawdham Merchants Ltd
Key managpmpnt pprconnpl
1. Subhadeep Mukherjec - Managing Director
2. Anjana Gupta - Additional Director
3. Dhlraj Ram - Additional Director
4. Gourav Goel - Additional Director
Mar 31, 2012
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
NOTE- 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.
NOTE- 2
Provision for taxation for the year has been provided for under the
normal provisions of Income Tax being higher than the tax computed
under the provisions of Sec 115JB.
NOTE- 3
No provision has been made on account of gratuity as none of the
employees have put in completed years of service as required by the
payment of gratuity act.
NOTE- 4
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.
NOTE- 5
The Company is engaged in the business of Non Banking financial
business and there is no separate reportable segment as per Accounting
Standard 17 "Segment Reporting" notified by the Companies Accounting
Standard Rules, 2006.
NOTE- 6
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- 7
Related Party Disclosure as required by Accounting Standard - 18 are
given below:
a) List of related parties:
Associates
1. Square Trade & Holdings (P) Ltd.
2. Topline Finvest Pvt. Ltd.
Subsidiaries/ Holding
Nil
Key management personnel
1. Lalan Kumar Pandey
2. Vinay Kumar Shah
3. Sushil Kumar Agarwal
4. Shiv Nath Tiwari
Enterprise in which Key management personnel has substantial interest
1. Lifetime Agency Pvt. Ltd.
2. Laxmiwan Vinimay Pvt. Ltd.
3. Longview Construction Consultants Pvt. Ltd.
b) Details of transactions with related parties:
NOTE- 8
The figures of previous year have been regrouped and / or rearranged
wherever necessary.
NOTE- 9
Till 31st 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 has become
applicable to the company. The Company has re classified previous year
figures as well as those in the bracket to confirm to this year''s
classification as per revised Schedule VI. The adoption of revised
Schedule VI does not impact recognition and measurement principles
followed for preparation of financial statements. However it
significantly impacts presentation and disclosure made in the financial
statements, particularly presentation of Balance Sheet.
Mar 31, 2011
1. In accordance with Accounting Standard 22 'Accounting for taxes on
income" issued by the Institute of Chartered Accountants of India, the
company has accounted for deferred tax during the year. The component
of deferred tax recognised and deferred tax as on 31st March, 2011 are
as follows:
2. As per requirement of Accounting Standard 3 issued by the- ICAI,
Cash Flow Statement is annexed herewith
3. Earning in foreign Currency NIL
4. Expenditure in foreign Currency NIL
5. No assets is impaired during the year as the assets are having
recoverable value which is more than the carrying amount
6. Based on the information/documents available with the Company, no
credit discovered 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 diclosurie there of made
in this account.
7. Previous year figures have been regrouped, rearranged or recasted
whereever considered necessary.
8. Information required in terms of paragraph 13 of Non Banking
financial ( Non -Deposit Accepting or Holding) Companies prudential
norms (Reserve Bank) Directions, 2007 is given m separate annexure.
9. In the opinion of Management, Current Assets, Loans. & Advances. if
realized in the ordinary course of business, shall fetel approximately
:be value at which these have been stated in the books of accounts and
that no further provision is required.
10.In compliance with the Non Banking Financial Companies Auditor's
Report ( Reserve Bank ) Directions , 2008 we report that
A
11. The Company is engaged in the Business of Non Ranking Financial
Institution and it has obtained a certificate at Registration from the
Bark
12. On the Basis of our examination of current year Balance Sheet and
profit and loss account we hereby report that Company is entitled to
continue to hold such certificate of Registration in terms of its asset
/ income pattern as on 31st March , 2011.
13. On the basis of our examination of current years Balance Sheet and
:he immediately preceding current year balance sheet we report that the
Company be classified based on its assets as LOAN COMPANY
B
14. The Board of Directors has passed a resolution for Non Acceptance of
any Public Deposes
15. The Company has not accepted any deposit from the public during the
year ended 31st March, 2010
16. The Company has complied with the prudential Norm relating to the
Income Recognition , Accounting Standands , assets classification and
provisioning for bad and doubtful debts as applicable to it in terms of
Non Banking Financial ( Non Deposits Accepting or Holding ) Companies
Prudential Norms Reserve Bank ) Directions - 2007
17. The Company is not a systemeticaliy impertant company as defined in
paragraph 2(1)(XIX) of the Non Banking Financial ( Non Deposits
Accenting or Holding ) Companies Prudential Norms ( Reserve Rank )
Directions - 2007
18. As defined in paragraph 2 (1) (xii) of tie Non-Banking F nancial
Companies Acceptance of Public Deposits (Reserve Bank) Direction. 1996
19. Provisioning norms shall be applicable as prescribed in the
Non-Banking Financial (Non-Deposit Accepting or Holdings) Comsanies
prudential Norms (Reserve Bank) Direction, 2007.
20. All Accounting Standards and Guidance Notes issued by ICAI are
applicable including for valuation of investments and other assets as
also assets acqired in satisfaction of debt. However, market value in
resped of quoted investments and Break up/ fair value/NAV in respect of
Unquoted investments should be disclosed irrespective of whether they
are classified as long term or current in column (4) above,