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Notes to Accounts of Tirupati Fincorp Ltd.

Mar 31, 2015

1. Right, Preferences and Restriction attached to shares

Equity shares

The company has only one class of Equity shares having par value Rs. 10.00 each. Each shareholder have right to attend and vote at all meeting of the company. Shareholders have right to participate in the dividends(if any) declared on that class of share. In a winding up of the company the shareholders have right to repayment of capital, paid up on such share and right to participate in the division of any surplus assets or profits of the company.

Mar 31, 2013

1. There is no contingent liability as on 31st March, 2013

2. Amount due from Directors as on 31st March 2013 is Rs. Nil and maximum balance outstanding during the year Rs NIL. Repayment made for loan & Advances taken from outgoing director (Chanchal Dalmia) during the year

3. There are no micro Small and Medium enterprises to whom the company owes dues which are outstanding for more than 45 days at the balance sheet date. The information given in ''''current Liabilities" regarding micro small and medium enterprises has been determined to the extent such parties have been identified on the basis of information available with the company

4. Figures of the previous year have been regrouped and rearranged wherever found necessary to make them comparable.

Mar 31, 2012

1. Right, Preferences and Restriction attached to shares

Equity shares

The company has only one class of Equitiy Having a par value Rs.10.00 per share, bach shareholder is eligible for one vote per share held. The dividend proposed by the board of directors is subject to the approval of the shareholders in ensiling Annual General Meeting, except in case of interim dividend. In the event of liquidation, the Equity shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amounts, in proportion to their shareholding.

2. The SSI status of the creditors is not known to the company, hence the information is not given.

3. Balances of Sundry Creditors, Sundry Debtors, Loans & Advances and Unsecured Loans have been taken at their book value subject to confirmation from the clients.

4. During the year ended 31st March 2012, the revised schedule VI notified under the Companies Act 1956, has become applicable to the company, for preparation and presentation of its financial statements. The adoption of revised Schedule VI does not impact recognition and measurement principles followed for preparation of financial statements. However, is has significant impact on presentation and disclosures made in the financial statements. The company has also reclassified the previous year figures in accordance with the requirements applicable in the current year.

5. Provision has been made for income tax for Rs 2,70,255 for income tax demand for year 2010-11

6. Loans and Advances are considered good in respect of which company does not hold any security other than the personal guarantee of persons.

Oct 28, 5:50 pm
Oct 28, 5:59 pm
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