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Notes to Accounts of Swarna Securities Ltd.

Mar 31, 2013

1) RELATED PARY TRANSACTIONS:

There are no transactions during the year with any of the related parties, to be disclosed in accordance with the Accounting Standard AS-18: "Related Party Disclosures" issued by The Institute of Chartered Accountants of India.

2) EARNING PER SHARE:

In determining earnings - per share, the Company considers the net profit after tax and includes the post tax effect of any extra-ordinary/exceptional item. The number of shares used in computing basic earnings per share is the weighted average number of shares outstanding during the period. The number of shares used in computing diluted earnings per share comprises the weighted average shares considered for deriving basic earnings per share, and also the weighted average number of equity shares that could have been issued on the conversion of all dilutive potential equity shares.

3) There was no expenditure on employees who are in receipt of remuneration in excess of the amounts prescribed under Sec. 217(2A) of the Companies Act, 1956.

4) There was no consumption of imported raw materials, components or spare parts during the year.

5) There was no expenditure in foreign currency during the year.

6) There were no earnings in foreign currency.

7) Previous Year''s Figures are regrouped wherever necessary

8) Paises are rounded off to the nearest rupee.


Mar 31, 2012

1) The difference between the net profit as shown in the Profit & Loss Account and the net income as per the Income Tax Act, 1961 not being substantial, no deferred tax asset has been recognized for the year.

2) There was no expenditure on employees who are in receipt of remuneration in excess of the amounts prescribed under Sec. 217(2A) of the Companies Act, 1956.

3) There was no consumption of imported raw materials, components or spare parts during the year.

4) There was no expenditure in foreign currency during the year.

5) There were no earnings in foreign currency.

6) Previous Year's Figures are regrouped wherever necessary

7) Paises are rounded off to the nearest rupee.


Mar 31, 2011

01. PROVISION FOR NON-PERFORMING ASSETS :

In pursuance to the Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998 Provision for NPAs amounting to Rs.3.62 lakhs was reversed during the year 2010-11.

02. TRANSFER TO RESERVE FUND :

An amount of Rs.0.96 Lakhs is transfrred to Reserve Fund in accordance with the provisions of Section 45(I)C of the RBI Act, 1934, for the current year.

03. The difference between the net profit as shown in the Profit & Loss Account and the net income as per the Income Tax Act, 1961 not being substantial, no deferred tax asset has been recognized for the year.

04. There was no expenditure on employees who are in receipt of remuneration in excess of the amounts prescribed under Sec.217(2A) of the Companies Act, 1956.

05. There was no consumption of imported raw materials, components or spare parts during the year.

06. There was no expenditure in foreign currency during the year.

07. There were no earnings in foreign currency.

08. Previous Year's Figures are regrouped wherever necessary.

09. Paises are rounded off to the nearest rupee.


Mar 31, 2010

01. CONTINGENT LIABILITIES :

There are no contingent liabilities.

02. The Balances on account of Lease, Hire Purchase, Other Debtors and Sundry Creditors are subject to confirmation. There are no dues to any SSI as on 31.03.2010.

03. MANAGERIAL REMUNERATION

No Remuneration is paid to the Managing Director.

04. PROVISION FOR NON-PERFORMING ASSETS :

In pursuance to the Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998 Provision for NPAs amounting to Rs.1.61 lakhs was reversed during the year 2009-10.

05. TRANSFER TO RESERVE FUND :

An amount of Rs.0.61 Lakhs is transfrred to Reserve Fund in accordance with the provisions of Section 45(I)C of the RBI Act, 1934, for the current year.

06. The difference between the net profit as shown in the Profit & Loss Account and the net income as per the Income Tax Act, 1961 not being substantial, no deferred tax asset has been recognized for the year.

07. There was no expenditure on employees who are in receipt of remuneration in excess of the amounts prescribed under Sec.217(2A) of the Companies Act, 1956.

08. There was no consumption of imported raw materials, components or spare parts during the year.

09. There was no expenditure in foreign currency during the year.

10. There were no earnings in foreign currency.

11. Previous Years Figures are regrouped wherever necessary.

12. Paises are rounded off to the nearest rupee.