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Notes to Accounts of Titan Securities Ltd.

Mar 31, 2015

1. Share options granted under the Employee Share Option Sche me .

The Company has not granted stock options to its employees under Employee Stock Option Scheme during the year under audit.

2. Detail of shares allotted without payment being received in cash during five years im mediately preceding the Balance Sheet date are given below.

3. The Company has not allotted any fully paid up equity shares without payment being received in cash and by way of bonus shares nor has bought back any class of equity shares during the period of five years immediately preceding the balance sheet date.

4 Disclosure required by Accounting Standard (AS) 15 (Revised) on Employee Benefits :

The Company has not made any provision towards Employee Benefits during the financial year 2014-1 5 and hence there are no details to be disclosed as per Accounting Standard (AS) 15 on Employee Benefits . However the Company accounts for these benefits on payment basis as and when the payment is made to the employees.

5 Disclosures of Provisions required by Accounting Standards (AS) 29 on Provisions, Contingent Liabilities and Contingent Assets :

The Company has been advised that Income Tax Demand for assessment year 2001-02 is likely to be either deleted or substantially reduced. Accordingly, in the opinion of the management there are no provisions for which disclosure is required during the financial year 2014-15 as per Accounting Standard (AS 29) on "Provisions, Contingent Liabilities and Contingent Assets".

6 Contingent Liabilities and Commitments

The Company has filed an appeal with ITAT New Delhi against income tax demand of Rs. 24,32,956/- for A.Y 2001-02 which is pendig. In the opinion of the mangement, there are no other contingent liabilities and capital commitments which needs to be disclosed in the financial statements.

7 Gain or loss on foreign currency transaction and translation:

The Company has not made any foreign currency transactions during the financial year 2014-15.

8. Segment Reporting

A. Primary Segment Reporting (by Business Segment):

(a) The Company has two reportable segments viz. Sale & Purchase of Shares (Tra ding and Investment) and Financing business (Granting of unsecured loans), which have been identified in line 'with the Accounting Standard 1 7 on Segment Reporting, taking into account the organizational structure as 'well as differential risk and return of these segments.

(b) The details of the Purchase, Sales and other information from operations by reportable business segments are as foll o'wsi

B. Secondary Seg ment Reporting (by Geographical dem arcation).

(a) The Company is running its all the businesses from single place and the expenditure in total are of the nature of indi rect expenses h ich are not attributable to a ny particular business. The Company has made a profit of Rs.70,000/- on shares sold out of investments which has been credited to Profit & Loss Account. However dealing in shares as investments has not been treated as a separate business.

9 Related Party Disclosures

A. List of Related Parties

i. Associate

(a) Titan Biotech Limited

ii. Related Parties

(a) Tanita Leasing & Finance Limited

(b) Connoisseur Managem ent Services Private Ltd.

(c) Tee Eer Securities& Financial Services Private Limited

(d) Peptech Biosciences Ltd

iii. Key Managerial Personnel.

(a) Ms . Manju Singla (M anaging Director)

(b) Mr. Ravinder Singh Kataria (CS)

(c) Mr.Rajiv Goel, (CFO)

10.The Company has been advised that the computation of net profit for the purpose of Director s Remuneration under section 197 of the Companies Act, 2013 need not be enumerated since no commission has been paid to the Directors. The Company has paid fixed monthly remuneration to the Director as per Companies (Appointment and Remuneration of Managerial Personnel ) Rules 2014.

11. For the year ended 31st March, 2015, the Board of Directors of the Company have not recommended any dividend for the shareholders of the company.

12. In the opinion of the management, the current assets, loans and advances are expected to realize at least the amount at which they are stated, if realized in the ordinary course of business and provision for all known liabilities have been adequately madein the books of accounts.

13. The previous figure have been reclassified/ rearranged / regrouped to correspond with current year figures.


Mar 31, 2014

1. Disclosure required by Accounting Standard (AS) 15 (Revised) on "Employee Benefits":

The Company has not made any provision towards Employee Benefits during the financial year 2013-14 and hence there are no details to be disclosed as per Accounting Standard (AS) 15 on "Employee Benefits". However the Company accounts for these benefits on payment basis as and when the payment is made to the employees.

2. Disclosures of Provisions required by Accounting Standards (AS) 29 on "Provisions, Contingent Liabilities and Contingent Assets":

In the opinion of the Management , there are no provisions for which disclosure is required during the financial year 2013-14 as per Accounting Standard (AS) 29 on "Provisions, Contingent Liabilities and Contingent Assets".

3. Contingent Liabilities and Commitments

In the opinion of the Management , there are no contingent liabilities and capital commitments which needs to be disclosed in the financial statements.

4. Gain or loss on foreign currency transaction and translation:

There is no gain or loss on account of foreign currency transactions during the financial year 2013-14 due to exchange price fluctuation.

5. SEGMENT REPORTING

A. Primary Segment Reporting (by Business Segment):

(a). The Company has two reportable segments viz. Sale & Purchase of Shares (Trading and Investment) and Financing business (Granting of unsecured loans), which have been identified in line with the Accounting Standard 17 on Segment Reporting, taking into account the organizational structure as well as differential risk and return of these segments.

B. Secondary Segment Reporting (by Geographical demarcation):

(a). The Company is running its all the businesses from single place and the expenditure in total are of the nature of indirect expenses which are not attributable to any particular business. The Company has made a profit of Rs.529800/- on shares sold out of investments which has been credited to Profit & Loss Account. However dealing in shares as investments has not been treated as a separate business.

6. Related Party Disclosures:

A. List of Related Parties: i. Associates:

(a) Titan Biotech Limited

(b) Tanita Leasing & Finance Limited

(c) Connoisseur Management Services Private Limited

(d) Tee Eer Securities & Financial Services Private Limited

(e) Peptech Biosciences Ltd.

ii. Key Managerial Personnel:

(a) Ms. Manju Singla (Managing Director)

(b) Mr. Naresh Kumar Singla (Director)

The Company has been advised that the computation of net profit for the purpose of Director''s Remuneration under section 349 of the Companies Act, 1956 need not be enumerated since no commission has been paid to the Directors. The Company has paid fixed monthly remuneration to the Director as per Schedule XIII to the Companies Act, 1956.

7. For the year ended 31st March, 2014, the Board of Directors of the Company have not recommended any dividend for the shareholders of the company.

8. In the opinion of the management, the current assets, loans and advances are expected to realize at least the amount at which they are stated, if realized in the ordinary course of business and provision for all known liabilities have been adequately made in the books of accounts.

9. The Company has prepared these financial statements as per the format prescribed by Revised Schedule VI to the Companies Act, 1956 issued by Ministry of Corporate affairs.

10. The previous figure has been reclassified / rearranged / regrouped in compliance of Revised Schedule VI to correspond with current year figures.

Notes :

1. The Cash Flow Statement has been prepared under the indirect method as set out in Accounting Standard (AS) 3 "Cash flow Statement" as specified in the Companies (Accounting Standard) Rule 2006.

2. Figures have been regrouped/ rearranged wherever necessary.


Mar 31, 2013

1. Disclosure required by Accounting Standard (AS) 15 (Revised) on "Employee Benefits":

The Company has not made any provision towards Employee Benefits during the financial year 2012-13 and hence there are no details to be disclosed as per Accounting Standard (AS) 15 on "Employee Benefits". However the Company acoounts for these benefits on payment basis as and when the payment is made to the employees.

2. Disclosures of Provisions required by Accounting Standards (AS) 29 on "Provisions, Contingent Liabilities and Contingent Assets":

In the opinion of the Management, there are no provisions for which disclosure is required during the financial year 2012-13 as per Accounting Standard (AS) 29 on "Provisions, Contingent Liabilities and Contingent Assets".

3. Contingent Liabilities and Commitments

In the opinion of the Management, there are no contingent liabilities and capital commitments which needs to be disclosed in the financial statements.

4. Gain or loss on foreign currency transaction and translation:

There is no gain or loss on account of foreign currency transactions during financial year 2012-13 due to exchange price fluctuation.

5. SEGMENT REPORTING

A. Primary Segment Reporting (by Business Segment):

(a). The Company has three reportable segments viz. Sale & Purchase of Shares (Trading and Investment), Financing business (Granting of unsecured loans), Trading of Goods (Plasic Goods, Iron sheets etc.) which have been identified in line with the Accounting Standard T7 on Segment Reporting, taking into account the organizational structure as well as differential risk and return of these segments.

(b). The details of the Purchase, Sales and other information from operations by reportable business segments are as follows:

B. Secondary Segment Reporting (by Geographical demarcation):

(a). The Company is running its all the three businesses from single place and the expenditure in total are of the nature of indirect expenses which are not attributable to any particular business. The Company has made a profit of Rs. 1,83,339/- on shares sold out of investments which has been credited to Profit & Loss Account. However dealing in shares as investments has not been treated as a separate business.

6. Information related to Micro, Small and Medium Enterprises : The Company has not received information from vendors regarding their status under the Micro,Small and Medium Enterprises Development act, 2006 and hence, disclosures relating to amounts unpaid as at the year end together with interest paid/payable under this Act has not been given.

7. Disclosure relating to amount outstanding at year end and maximum outstanding during the year of loans and advances, required as per clause 32 of the Listing Agreement, are given below.:

8. Related Party Disclosures:

A. List of Related Parties: i. Associates:

(a) Titan Biotech Limited

(b) Tanita Leasing & Finance Limited

(c) Connoisseur Management Services Private Limited

(d) Tee Eer Securities & Financial Services Private Limited

(e) Peptech Biosciences Ltd.

ii. Key Managerial Personnel:

(a) Ms. Manju Singla (Managing Director)

(b) Mr. Naresh Kumar Singla (Director)

9. For the year ended 31st March, 2013, the Board of Directors of the Company have not recommended any dividend for the shareholders of the company.

10. Additional information pursuant to paragraphs 5 (viii) of Part II of Schedule VI to the Companies Act, 1956 are follows:

11. In the opinion of the management the current assets, loans and advances are expected to realize at least the amount at which they are stated if realized in the ordinary course of business and provision for all known liabilities have been adequately made in the books of accounts.

12. The Company has prepared these financial statements as per the format prescribed by Revised Schedule VI to the Companies Act, 1956 issued by Ministry of Corporate affairs.

13. The previous figure has been reclassified/rearranged/regrouped in compliance of Revised Schedule VI to correnpond with current year figures


Mar 31, 2012

A. Share options granted under the Employee Share Option Scheme:

The Company has not granted stock options to its employees under Employee Stock Option Scheme during the year under audit.

B. Detail of shares allotted without payment being received in cash during five years immediately preceding the Balance Sheet date are given below:

The Company has not allotted any fully paid up equity shares without payment being received in cash and by way of bonus shares nor has bought back any class of equity shares during the period of five years immediately preceding the balance sheet date.

C. Although the book/market value of certain investments (amount not ascertained) is lower than cost, considering the strategic and long term nature of the investments and asset base of the investee companies, in the opinion of the management such decline is temporary in nature and no provision is necessary for the same.

1. Discontinuing Operations

The Company has nut discontinued any operation during the year under audit Hence there are no detail which need to be disclosed as required by AS 24.

2 Disclosure required by Accounting Standard (AS) 15 (Revised) on "Employee Benefits":

The Company has not made any provision towards Fmployee Benefits during the financial year 2011-12 and hence there are no details to be disclosed as per Accounting Standard (AS) 15 on "Employee Benefits". However the Company accounts for these benefits on payment basis as and when the payment is made to the employees.

3. Disclosures of Provisions required by Accounting Standards (AS) 29 on "Provisions, Contingent Liabilities and Contingent Assets":

In the opinion of the Management , there are no provisions for which disclosure is required during the financial year 2011-12 as per Accounting Standard (AS) 29 on "Provisions, Contingent Liabilities and Contingent Assets".

4. Contingent Liabilities and Commitments

In the opinion of the Management , there are no contingent liabilities and capital commitments which needs to be disclosed in the financial statements.

5. Gain or loss on foreign currency transaction and translation:

The Company has made a gain of Rs.69,940/- on account of foreign currency transactions during the financial year 2011-12 due to exchange price fluctuation.

A. Secondary Segment Reporting (by Geographical demarcation):

(a). The Company is running its all the three businesses from single place and the expenditure in total are of the nature of indirect expenses which are not attributable to any particular business. The Company has made a profit of Rs.2,40,164/- on shares sold out of investments which has been credited to R.rofi|:& Loss Account. However dealing in shares as investments has not been treated as a separate business.

6. Information related to Micro. Small and Medium Enterprises : TheComparty has not received information from vendors regarding their status under the Micro,Small and Medium Enterprises Development act, 2006 and hence, disclosures relating to amounts unpaid as at the year end together with interest paid / payable under this Act has not been given.

7. For the year ended 31st March, 2012, the Board of Directors of the Company have not recommended any dividend for the shareholders of the company.

8. The accounts of Sundry Debtors and Creditors are subject to confirmation / reconciliation and adjustment, if any. The Management does not expect any material difference affecting the current years The Management, does 8# expect any material difference affecting the current, year''s financial statements.

In the opinion of the tuanagement, the current assets, loans and advances are expected to realize at least the amount at which tjhey are stated, if realized in the ordinary course of business and provision for all known liabilities have been adequately made in the books of accounts.

9. The Company tias prepared these financial statements as per the format prescribed by Revised Schedule VI to the Companies Act: 1956 issued by Ministry of Corporate affairs.

10. The previous figure has been reclassified/ rearranged / regrouped in compliance of Revised Schedule VI to correnpond with current year figures


Mar 31, 2010

(1) Contingent Liabilities: In our opinion there are no contingent liabilities

(2) Capital Expenditure: There are no capital commitments on account of purchase of Fixed Assets.

(3) Loans & Advances: All loans given by the company in due course of its financing business have a value realization in ordinary course of business at least equal to the amount at which these are stated in Balance sheet, though, in some of the cases interest accrued, debited in loan accounts is not received for a period of more than one year. As explained by the Management, all the loans including accrued interest are good and none of the Loans have been classified as bad/ doubtful.

(4) EPS: In view of profit figure being very small no EPS on Equity before and after dilution has been computed.

(5) Deferred Tax: There are timing difference on account of difference in rates of depreciation as per Income Tax Act 1961 & rates provided as per Companies Act 1956 on which deferred tax calculations as per AS-22 issued by ICAI has been calculated.

(6) Investments: Investments are valued at cost and are treated long term Investments, however some of these are sold in short duration. Disposal of Investments during the year has resulted in profit of Rs. 60960/- which has been credited to Profit & Loss Account.

(7) Derivatives: There are no derivative transactions entered into by the company during the year under Audit.

(8) Secured Loans: The company has not taken any secured loans except loan for purchase of car, for which the car is hypothecated to the Bank.

(9) Segment Reporting: Company deals in only purchase and Sale of Securities

(10) Schedule A to H form an integral part of the accounts for the year ended 31st March, 2010.


Mar 31, 2009

1. There are no capital commitments on account of purchase of Fixed Assets.

2. In the opinion of the management all the Current Assets, Loans & Advances, have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.

3. In view of profit figure being very small no EPS on Equity before and after and after dilution has been computed.

4. Defered Tax

There are timing difference on account of difference in rates of depreciation as per Income Tax Act 1961 & rates provided as per Companies Act 1956 on which deferred tax calculations as per AS-22 issued by ICAI has been calculated.

5. Schedule A to H form an integral part of the accounts for the year ended 31aMarch, 2009.

 
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