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, 200Â£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:
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
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.
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.
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.
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.
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.
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.
Related Party Disclosure as required by Accounting Standard - 18 are given below:
a) List of related parties:
1. Square Trade & Holdings (P) Ltd.
2. Topline Finvest Pvt. Ltd.
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:
The figures of previous year have been regrouped and / or rearranged wherever necessary.
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
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
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,