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Notes to Accounts of Unno Industries Ltd.

Mar 31, 2015

1. Dues to Micro and Small enterprises

There are no suppliers who are registered with the Company as micro or small enterprise as defined under "The Micro, Small and Medium Enterprise Development Act, 2006". The information regarding the status of suppliers as micro or small enterprise have been determined on the basis of information available with the Company. This has been relied upon by the auditors.

2. PRINCIPLES OF CONSOLIDATION

The Financial statements of UNNO INDUSTRIES LIMITED with audited financial statement of its subsidiaries as described in Note no 17.5 have been considered for the purpose of consolidation.

The financial statements of the parent company and its subsidiary as described in Note no.17.5 have been combined to the extent possible on a line by line basis by adding together like items of assets, liabilities, income and expenses. The result of subsidiaries acquired or disposal off during the year are included in the consolidated profit & loss account from the effective date of acquisition or up to the effective date of disposal, as appropriate. All significant intra group balances and transaction have been eliminated on consolidation. The amount shown in respect of reserves comprise the amount of the relevant reserve as per the balance sheet of the parent company and share in the post – acquisition increase in the relevant reserve of the subsidiaries.

The consolidation financial statements have been prepared using uniform accounting policies for like transactions and other event in similar circumstances and are presented to the extent Possible, in the same manner as the parent company's financial statements.


Mar 31, 2014

1.1 Dues to Micro and Small enterprises

There are no suppliers who are registered with the Company as micro or small enterprise as defined under "The Micro, Small and Medium Enterprise Development Act, 2006". The information regarding the status of suppliers as micro or small enterprise have been determined on the basis of information available with the Company. This has been relied upon by the auditors.

1.2 a. List of Related Party Nature of relationship

ALOK TODI Key Managerial Personnel

BHAIRU RATAN OJHA

INFRASTIL TRADING PRIVATE LIMITED

SANDHYA PROJECTS LIMITED

LINE-ONE TRADING PRIVATE LIMITED

MANAN DEALMARK PRIVATE LIMITED Associate companies

ROSHAN DELMARK PRIVATE LIMITED

DEVADEVA SECURITIES PRIVATE LIMITED

MASTAK COMMODITIES PRIVATE LIMITED

SANSKAAR MARCOM PRIVATE LIMITED


Mar 31, 2013

1.1 Corporate Information

UNNO INDUSTRIES LIMITED (the Company) is a leading Non Banking Finance Company, Registered with Reserve Bank of India and was incorporated on 4th August, 1992. The Company provides financial support to emerging business entrepreneurs.

1.2 Basis of Preparation

The financial statements of the company have been prepared in accordance with generally accepted accounting principles in India (Indian GAAP). The company has prepared these financial statements to comply in all material respects with the accounting standards notified under the Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act 1956. The Financial statements have been prepared on an accrual basis. The accounting policies adopted in the preparation of financial statements are considered with those of previous year, except for the change in accounting policy explained below.

1.3 Dues to Micro and Small enterprises

There are no suppliers who are registered with the Company as micro or small enterprise as defined under "The Micro, Small and Medium Enterprise Development Act, 2006". The information regarding the status of suppliers as micro or small enterprise have been determined on the basis of information available with the Company. This has been relied upon by the auditors.

1.4 Scheme of Arrangement

(i) A Composite Scheme of Arrangement ("the Scheme") between UNNO INDUSTRIES LTD. and Pinnacle Vintrade Limited ("PVL") and Basukinath RealEstate Limited ("BREL") and Baviscon Vincom Limited ("BVL") under Sections 391 to 394 of the Companies Act, 1956 for amalgamation of PVL and BRL and BVL with the Company into the Company has been sanctioned by the High Court of Maharashtra at Mumbai on 18th Jan 2013. The Scheme has become effective from the appointed date 1st April 2012.

(ii) Pursuant to the Scheme, all the assets, liability and reserves of PVL & BREL & BVL have transferred to and vested in the Company as a going concern with effect from the appointed date 1st April 2012.

a. The amalgamation has been accounted for under the "Pooling of Interest Method" as per AS 14. Accordingly, as on appointed date, all the assets and liabilities have been taken at their book value and all the reserves identity has been preserved and added to identical reserves of UNNO INDUSTRIES LTD. The liabilities have been accounted for on their book value basis of accrual and certainty as decided by the management. However, as per the scheme the difference between Net asset value and equity shares issued to shareholders of transferor companies shall be recorded as Capital Reserve or goodwill.

b. As consideration for the amalgamation, the Company has during the year issued and allotted 14,29,98,750 Equity Shares of Re 1/- each fully paid up in the ratio of 1.08 Equity Share of 1/- each of UNNO for every 1 (One) Equity Shares of Rs 1/- each of BREL in the Capital of the Company, and 4,10,00,000 Equity Shares of Rs 1/- each fully paid up in the ratio of 1.11 Equity Share of 10/- each of UNNO for every 1 (One) Equity Shares of Rs 1/- each of BVL in the Capital of the Company and 11,19,30,000 Equity Shares of Rs 1/- each fully paid up in the ratio of 1.08 Equity Share of 1/- each of UNNO for every 1 (One) Equity Shares of Rs 1/- each of PVL in the Capital of the Company.

c. The difference between the net asset value i.e Book value of Assets minus liabilities (including reserves) of the transferor companies as on the appointed date and equity shares issued to the shareholders of transferor companies on amalgamation by the transferee company of Rs. 3,85,449 has been credited to goodwill account at the time of allotment of shares.


Mar 31, 2012

Company overview

Unno Industries Limited (the Company) is a leading Non Banking Finance Company, Registered with Reserve Bank of India and was incorporated on 4th August, 1992. The Company provides financial supports to emerging business entrepreneurs.

Amounts in the financial statements are presented in 'Rs.' Lacs, except for per share data and as otherwise stated. All exact amounts are stated with the suffix. '/-'.

Previous year's figures have been rearranged and regrouped wherever considered necessary

NOTES FORMING PART OF ACCOUNTS

Note No-1 : Other Notes & Disclosers

(i) In the opinion of Board, Current Assets, Loans & Advances have a value of realization in the ordinary course of business, at least equal to the amount at which they are stated.

(ii) Previous year's figures have been rearranged and regrouped wherever considered necessary. Figures have been rounded off to the nearest rupees.

(iii) Prior year's adjustments are shown net of Income, if any.

(iv) No transaction was effected during the period ended on 31st March 2012 with the small scale Industrial Undertaking and outstanding to small scale Industrial undertaking as at the year end was Nil

(v) No commission is payable to Directors/Managing Director and hence Computation of Net Profit in accordance with Section 198, 309 and 349 of the Companies Act, 1956 has not been given.

(vi) CIF value of Imports, Earnings in Foreign Exchange, Remittance in Foreign Exchange, Expenditure in Foreign Exchange is NIL

(vii) Directors Remuneration

a. Salary : NIL

b. Value of perquisites : NIL

Note No. 2 : RELATED PARTY DISCLOSURE AS PER ACCOUNTING STANDARD-18:

a. Related parties where control exists None

b. Key Management Personnel Shri Narendra Kumar Gangwal, Managing Director, Shri Pradeep Patni, Whole Time Director Shri Alok Todi, Shri Pawan Dalmia, Shri Rakesh K. Mishra, (Independent Directors)

c. Relative(s) of Key Management Personnel : Mr. Pranay Gangwal, Mrs. Prerna Jain, Mrs. Priti Jain, Mr. Rahul Jain, Prateek Jain, Nirmala Jain, Pramila Jain, Pradeep Patni HUF, Shilpi Gangwal.

d. The above information regarding related parties have been determined to the extent such parties have been identified on the basis of information available with the company.


Mar 31, 2010

1. Previous years figures have been rearranged and regrouped wherever considered necessary. Figures have been rounded off to the nearest rupees.

2. No transaction was effected during the period ended on 31st March 2010 with the small scale Industrial Undertaking and outstanding to small scale Industrial undertaking as at the year end was Nil

3. No commission is payable to Directors/Managing Director and hence Computation of Net Profit in accordance with Section 198, 309 and 349 of the Companies Act, 1956 has not been given.

4. C1F value of Imports : NIL

5. Earnings in Foreign Exchange : NIL

6. Remittance in Foreign Exchange : NIL

7. Expenditure in Foreign Exchange : NIL

8. Directors Remuneration

a. Salary : NIL

b. Value of perquisites : NIL

9. Provision for current Income tax is Nil as per provisions of the Income Tax Act. 1956.

10. During the year the Net Deferred Tax assets of Rs. 22.89 lakhs as at 31.3.2010 has been recognised in books of accounts, as recommended under accounting standard (AS)-22 on "Deferred Taxation " issued by the Institute of Chartered Accountants of India. The net Deferred tax Assets comprises of the following components :

Deferred Tax Asset has been recognized on carry forward of Business Losses and unabsorbed depreciation on the assumption that the company would make profit in coming years and set off such losses.

11. Segmental Reporting

The Business segment has been considered as the primary segment for disclosure. The category Included in each of the reported business segment are as follows:

a. Loans to parties

b. Share Trading

The above business segment have been identified considering

1. The nature of service

2. The deferring risk and return

Revenues and expenses have been accounted tor based on the basis of their relationship to the operating activities of the segment. Revenues and expenses, which related to the enterprise as a whole and arc not allocable to segments on a reasonable basis have been included under un allocable Assets / Liabilities.

12. Related Party Transaction :

a. Related parties where control exists : None

b. Key Management Personnel : Mr Narendra Kumar Gangwal, Managing Director

: Mr. Pradeep Patni, Non- Executive Director

c. Relative(s)of Key Management Personnel : Mr. Pranay Gangwal, Mrs. Prerna Jain. Mis. Priti Jain. Rahul Jain,

Prateek Jain, Nirmala Jain, Pramila Jain, Pradeep Patni HUF, Shilpi Gangwal,

d. The above information regarding related parties have been determined to the extent such parties have been identified on the basis of information available with the company.

V Generic Names of three principal Product/Services of the company

(as per monetary terms)

Item Code No.(ITC Code) N.A.

Product Description Non Banking Financial Company, Investments & Share Trading

 
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