Mar 31, 2015
[A] BASIS OF ACCOUNTING
The Financial Statements of the Company have been prepared in
accordance with generally accepted Accounting Principles in India,
Mandatory Accounting Standards notified under the Companies
(Accounting Standards) Rules, 2006 [as amended] and the relevant
provisions of the Companies Act, 1956 read with General Circular
8/2014 dated April 04, 2014 issued by the Ministry of Corporate
Affairs. The Financial Statements have been prepared under the
historical cost convention on an accrual basis. The Accounting
Policies applied by the Company are consistent with those used in the
Previous Year. All the Assets and Liabilities have been classified as
Current or Non-Current as per the Company's normal operating cycle and
other criteria set out in Revised Schedule III to the Companies Act,
2013 read with General Circular 8/2014 dated April 04, 2014 issued by
the Ministry of Corporate Affairs. Mercantile System of Accounting is
generally followed except for Income on account of Insurance and other
such claims receivable, which are accounted for only on receipt basis
on account of uncertainties.
The accounts for the relevant year have been prepared on a going
concern basis.
[B] USE OF ESTIMATES
The preparation of the Financial Statements in conformity with the
generally accepted Accounting Principles requires estimates and
assumptions to be made that affect the reported amount of Assets and
Liabilities and the disclosures relating to Contingent Assets and
Liabilities as on the date of Financial Statements and the reported
amount of Revenues and Expenses during the reporting period.
Management believes that the estimates used in the preparation of the
Financial Statements are prudent and reasonable. Actual results could
differ from these estimates.
[C] OPERATING CYCLE
Based on the nature of business, the time between the acquisition of
assets for the purpose of the business and their realization in cash
and cash equivalents, the Company has ascertained its Operating Cycle
as 12 [Twelve] Months for the purpose of classification of its Assets
and Liabilities as Current and Non-Current.
[D] FIXED ASSETS
Fixed Assets are valued at Cost less Depreciation.
[E] DEPRECIATION
Depreciation is provided on original cost of Fixed Assets on the
Straight Line Method at the rates prescribed in Schedule II to the
Companies Act, 2013.
[F] INVESTMENTS
(a) Classification
Investments are classified into the following category
Long Term Investments
All investments in securities, where such investments are intended [at
the time of purchase or acquisition thereof] to be held for a period
exceeding one year are classified as Long Term Investments.
(b) Valuation
Long Term Investments are valued at cost. However, as a matter of
prudent accounting, major diminution in the value of the investments
are charged off in the accounts and shown as an extraordinary item.
[G] INVENTORIES
Stock-in-Trade [Securities] is valued at lower of cost or net
realizable value. The net realizable value for quoted shares is
determined based on the last quoted price at a recognized Stock
Exchange. For unquoted shares, the net realizable value is taken as
the Fair Market Value, determined on the basis of Rule 11U and 11UA of
the Income Tax Rules. However, where the Fair Market Value of unquoted
shares and securities are not readily determinable, the same are taken
at the cost price.
[H] REVENUE RECOGNITION
(a) Fees for Management of Issues and Placement of Securities, if any,
are accounted for in accordance with the payment schedule as agreed in
the Memorandum of Understanding entered into with the Issuer Companies
or the Letter of Mandate accepted/signed by them.
(b) Dividends and Interest on Debentures are accounted for as and when
received.
(c) Service Charges for Fund Syndication, if any, are accounted for on
completion of Syndication.
(d) All expenses are accounted for on an accrual basis, except
statutory payments which are accounted for as and when paid.
[I] INCOME TAXES
Tax expense comprises of current and deferred tax. Current income tax
is measured at the amount expected to be paid to the tax authorities
in accordance with the Indian Income Tax Act, 1961.
[J] DEFERRED TAX
Deferred tax is recognized on timing differences being the difference
between the taxable income and the accounting income that originate in
one period and are capable of reversal in one or more subsequent
periods. Deferred tax is measured using the tax rates and tax laws
enacted or subsequently enacted as on the reporting date. Deferred tax
liabilities are recognized for all timing differences. Deferred tax
assets are recognized for timing differences as well as for unabsorbed
carry forward losses and depreciation, if any, only if there is
virtual certainty that there will be sufficient future taxable income
available to realize the assets. Deferred tax assets and liabilities
are offset if such items relate to taxes on income levied by the same
governing tax laws and the Company has a legally enforceable right for
such set off. Deferred tax assets would be reviewed at each Balance
Sheet date for their realisability
[K] RETIREMENT GRATUITY BENEFITS
Retirement Benefits in the form of Gratuity is provided in the Profit
and Loss Account. Gratuity Liability is a defined benefit/obligation
and in the current year such provision has been made on the basis of
an actuarial valuation. Such actuarial valuation has been made on the
basis of Projected Unit Cost method.
Provident Fund contribution is made to the Employees Provident Fund
Scheme of the Government of India. The Company does not have
Superannuation Pension Plan since the same is covered by contributions
to the Pension Scheme under Employees Provident Fund Act. The Company
has not made any investment in Plan Assets towards the Gratuity
Liability.
[L] SEGMENT REPORTING
The Company has income from one segment only (Retail Mobilization
Services) and accordingly, AS 17 relating to Segment Reporting is not
applicable to the Company for the relevant year.
[M] EARNINGS PER SHARE
Basic Earnings Per Share is computed by dividing the Profit/(Loss)
After Tax [including the post tax effect of Extra-Ordinary Items, if
any] by the weighted average number of equity shares outstanding
during the year.
Diluted Earnings Per Share is computed by dividing the Profit / (Loss)
After Tax (including the post tax effect of Extra-Ordinary Items, if
any) as adjusted for dividend, interest and other charges to expense
or income relating to the dilutive potential equity shares, by the
weighted average number of equity shares considered for deriving basic
earnings per share and the weighted average number of equity shares
which could have been issued on the conversion of all dilutive
potential equity shares.
Potential equity shares are deemed to be dilutive only if their
conversion to equity shares would decrease the net profit per share
from continuing ordinary operations. Potential dilutive equity shares
are deemed to be converted as at the beginning of the period, unless
they have been issued at a later date. The dilutive potential equity
shares are adjusted for the proceeds receivable had the shares been
actually issued at fair value (i.e. average market value of the
outstanding shares). Dilutive potential equity shares are determined
independently for each period presented. The number of equity shares
and potentially dilutive equity shares are adjusted for share
splits/reverse share splits and bonus shares, as appropriate.
[N] PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
events and it is probable that there will be outflow of resources.
Contingent Liabilities are not recognized, but are disclosed in the
notes. Contingent assets are neither recognized nor disclosed in the
financial statements.
DISCLOSURE OF RIGHTS
The Company has issued only one class of equity shares having a par
value of '10/-. Each holder of equity shares is entitled to one vote
per share. Dividends declared in Indian Rupees and when proposed by
the Board of Directors is subject to the approval ofthe shareholders
at the Annual General Meeting, except in the case of interim dividend,
if any. In the event of liquidation ofthe Company, the holders of
equity shares will be entitled to receive remaining assets ofthe
Company. The distribution will be in proportion to the number of
equity shares held by the shareholders.
Mar 31, 2014
A. BASIS OF ACCOUNTING :
The Financial Statements of the Company have been prepared under the
historical cost convention and in accordance with ap- plicable
Accounting Standards except where otherwise stated. The Financial
Statements have also been prepared in accordance with relevant
presentational requirements of the Companies Act, 1956 (which continue
to be applicable in respect of Section 133 of the Companies Act 2013 in
terms of General Circular 15/2013 dated 13th September, 2013 of the
Ministry of Corporate Affairs) and the relevant provisions of the 1956
Act/2013 Act. Mercantile system of accounting is generally followed
except for statutory payments.
Accounting policies not specifically referred to herein below are
consistent and in consonance with generally accepted account- ing
principles prevalent in India and comply with the accounting standards
notified by the Central Government under the Compa- nies (Accounting
Standards) Rules 2006
The accounts for the relevant year have been prepared on a go- ing
concern basis
B. USE OF ESTIMATES :
The preparation of the financial statements in conformity with the
generally accepted accounting principles requires estimates and
assumptions to be made that affect the reported amount of assets and
liabilities and the disclosures relating to contingent assets and
liabilities as on the date of financial statements and the reported
amount of revenues and expenses during the report- ing period.
Management believes that the estimates used in the preparation of the
financial statements are prudent and reason- able. Actual results could
differ from these estimates.
C. OPERATING CYCLE :
Based on the nature of business the time between the acquisition of
assets for the purpose of the business and their realization in cash
and cash equivalents, the Company has ascertained its oper- ating cycle
as 12 months for the purpose of classification of its assets and
liabilities as current and non current.
D. FIXED ASSETS :
Fixed Assets are valued at Cost less Depreciation.
E. DEPRECIATION :
Depreciation on Other Fixed Assets installed after December 16, 1993,
is provided on Straight Line basis at the rates and in the manner
specified in the Schedule XIV to the Companies Act, 1956 (As Amended).
In respect of the Fixed Assets installed prior to the above date,
Depreciation is provided on Straight Line basis at the rates applicable
in the respective year of Addition. Statutory Depreciation in respect
of Assets where the actual cost does not exceed Rs.5,000/- is provided at
the rate of 100% in the year of Purchase/Installation.
F. INVESTMENTS :
(i) CLASSIFICATION :
Investments are classified into the following category :
Long Term Investments : All Investments in Securities, where such
investments are intended (at the time of pur- chase or acquisition
thereof) to be held for a period exceed- ing one year, are classified
as Long Term Investments.
(ii) VALUATION :
Long Term Investments are valued at cost. However, as a matter of
prudent accounting, major diminution in the value of the investments
are charged off in the accounts and shown as an extraordinary item.
G. REVENUE RECOGNITION :
(i) Fees for Management of Issues and Placement of Securities, if any,
are accounted for in accordance with the payment schedule as agreed in
the Memorandum of Understanding entered into with the Issuer Companies
or the Letter of Man- date accepted/signed by them.
(ii) Dividends and Interest on Debentures are accounted for as and when
received.
(iii) Service Charges for Fund Syndication, if any, are accounted for
on completion of Syndication.
(iv) All expenses are accounted for on an accrual basis, except
statutory payments which are accounted for as and when paid.
H. TAXATION :
Provision for Income Tax, if any, is made after considering exemp-
tions, deductions and allowances available as per the provisions of the
Income Tax Act, 1961.
I. RETIREMENT GRATUITY BENEFITS :
Retirement benefits in the form of Gratuity is provided in the Profit
and Loss Account. Gratuity Liability is a defined benefit/ obligation
and in the current year such provision has been made on the basis of an
actuarial valuation. Such actuarial valuation has been made on the
basis of Projected Unit Cost method.
Provident Fund contribution is made to the Employees Provident Fund
Scheme of the Government of India. The Company does not have
Superannuation Pension Plan since the same is covered by contributions
to the Pension Scheme under Employees Provident Fund Act. The Company
has not made any investment in Plan Assets towards the Gratuity
Liability.
J. SEGMENT REPORTING :
The Company has income from one segment only (Retail Mobili- sation
Services) and accordingly, AS 17 relating to segment re- porting is not
applicable to the Company for the relevant year.
K. EARNINGS PER SHARE :
Basic earnings per share is computed by dividing the profit/(loss)
after tax (including the post tax effect of extraordinary items, if
any) by the weighted average number of equity shares out- standing
during the year. Diluted earnings per share is computed by dividing the
profit/(loss) after tax (including the post tax effect of extraordinary
items, if any) as adjusted for dividend, interest and other charges to
expense or income relating to the dilutive potential equity shares, by
the weighted average number of eq- uity shares considered for deriving
basic earnings per share and the weighted average number of equity
shares which could have been issued on the conversion of all dilutive
potential equity shares. Potential equity shares are deemed to be
dilutive only if their conversion to equity shares would decrease the
net profit per share from continuing ordinary operations. Potential
dilutive equity shares are deemed to be converted as at the beginning
of the period, unless they have been issued at a later date. The di-
lutive potential equity shares are adjusted for the proceeds re-
ceivable had the shares been actually issued at fair value (i.e.
average market value of the outstanding shares). Dilutive poten- tial
equity shares are determined independently for each period presented.
The number of equity shares and potentially dilutive equity shares are
adjusted for share splits/reverse share splits and bonus shares, as
appropriate.
L. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT AS- SETS :
Provisions involving substantial degree of estimation in measure- ment
are recognized when there is a present obligation as a re- sult of past
events and it is probable that there will be outflow of resources.
Contingent Liabilities are not recognised, but are dis- closed in the
notes. Contingent assets are neither recognised nor disclosed in the
financial statements.
Mar 31, 2013
A. BASIS OF ACCOUNTING :
The Financial Statements of the Company have been prepared under the
historical cost convention and in accordance with applicable Accounting
Standards except where otherwise stated. The Financial Statements have
also been prepared in accordance with relevant presentational
requirements of the Companies Act, 1956. Mercantile system of
accounting is generally followed except for statutory payments.
Accounting policies not specifically referred to herein below are
consistent and in consonance with generally accepted accounting
principles prevalent in India and comply with the accounting standards
notified by the Central Government under the Companies (Accounting
Standards) Rules 2006.
The accounts for the relevant year have been prepared on a going
concern basis.
B. FIXED ASSETS :
Fixed Assets are valued at Cost less Depreciation.
C. DEPRECIATION :
Depreciation on Other Fixed Assets installed after 16.12.1993, is
provided on Straight Line basis at the rates and in the manner speci-
fied in the Schedule XIV to the Companies Act, 1956 (As Amended). In
respect of the Fixed Assets installed prior to the above date,
Depreciation is provided on Straight Line basis at the rates applicable
in the respective year of Addition. Statutory Depreciation in respect
of Assets where the actual cost does not exceed Rs.5,000/- is provided
at the rate of 100% in the year of Purchase/ Installation.
D. INVESTMENTS :
(a) CLASSIFICATION :
Investments are classified into the following category :
Long Term Investments :
All Investments in Securities, where such investments are intended (at
the time of purchase or acquisition thereof) to be held for a period
exceeding one year, are classified as Long Term Investments.
(b) VALUATION :
Long Term Investments are valued at cost. However, as a matter of
prudent accounting, the diminution in the value of the invest- ments
has been charged off in the accounts and has been shown as an
extraordinary item in the profit and loss account for the financial
year 2012-13.
E. REVENUE RECOGNITION :
(a) Fees for Management of Issues and Placement of Securities, if any,
are accounted for in accordance with the payment schedule as agreed in
Memorandum of Understanding entered into with the Issuer Companies or
the Letter of Mandate accepted/signed by them.
(b) Dividends and Interest on Debentures are accounted for as and when
received.
(c) Service Charges for Fund Syndication, if any, are accounted for on
completion of Syndication.
(d) All expenses are accounted for on an accrual basis, except
statutory payments which are accounted for as and when paid.
F. TAXATION :
Provision for Income Tax, if any, is made after considering exemptions,
deductions and allowances available as per the provisions of the Income
Tax Act, 1961.
G. RETIREMENT GRATUITY BENEFITS :
Retirement benefits in the form of Gratuity is provided in the Profit
and Loss Account. Gratuity Liability is a defined benefit/obligation
and in the current year such provision has been made on the basis of an
actuarial valuation. Such actuarial valuation has been made on the
basis of Projected Unit Cost method
Provident Fund contribution is made to the Employees Provident Fund
Scheme of the Government of India. The Company does not have
Superannuation Pension Plan since the same is covered by contributions
to the Pension Scheme under Employees Provident Fund Act. The Company
has not made any investment in Plan Assets towards the Gratuity
Liability.
H. SEGMENT REPORTING :
The Company has income from one segment only (Retail Mobilisation
Services) and accordingly, AS 17 relating to segment reporting is not
applicable to the Company for the relevant year.
I. EARNINGS PER SHARE :
Basic earnings per share is computed by dividing the profit / (loss)
after tax (including the post tax effect of extraordinary items, if
any) by the weighted average number of equity shares outstanding during
the year. Diluted earnings per share is computed by dividing the profit
/ (loss) after tax (including the post tax effect of extraordinary
items, if any) as adjusted for dividend, interest and other charges to
expense or income relating to the dilutive potential equity shares, by
the weighted average number of equity shares considered for deriving
basic earnings per share and the weighted average number of equity
shares which could have been issued on the conversion of all dilutive
potential equity shares. Potential equity shares are deemed to be
dilutive only if their conversion to equity shares would decrease the
net profit per share from continuing ordinary operations. Potential
dilutive equity shares are deemed to be converted as at the beginning
of the period, unless they have been issued at a later date. The
dilutive potential equity shares are adjusted for the pro- ceeds
receivable had the shares been actually issued at fair value (i.e.
average market value of the outstanding shares). Dilutive poten- tial
equity shares are determined independently for each period presented.
The number of equity shares and potentially dilutive equity shares are
adjusted for share splits / reverse share splits and bonus shares, as
appropriate.
J. PROVISIONS, CONTINGENT LIABILITIES AND CONTINGENT ASSETS :
Provisions involving substantial degree of estimation in measurement
are recognized when there is a present obligation as a result of past
events and it is probable that there will be outflow of resources.
Contingent Liabilities are not recognised, but are disclosed in the
notes. Contingent assets are neither recognised nor disclosed in the
financial statements.
Mar 31, 2012
A) BASIS OF ACCOUNTING :
The Company prepares its Accounts on accrual basis, except otherwise
stated, in consonance with the Generally Accepted Accounting Policies.
B) FIXED ASSETS:
Fixed Assets are valued at Cost less Depreciation.
C) DEPRECIATION:
Depreciation on Other Fixed Assets installed after 16.12.1993, is
provided on Straight Line basis at the rates and in the manner
specified in the Schedule XIV to the Companies Act, 1956 (As Amended).
In respect of the Fined Assets installed prior to the above date,
Depreciation is provided on Straight Line basis at the rates applicable
in the respective year of Addition. Statutory Depreciation in respect
of Assets where the actual cost does not exceed Rs.5,000/- is provided at
the rate of 100% in the year of Purchase/ Installation.
D) IMPAIRMENT OF ASSETS:
There has been no impairment during the Current Financial Year 2011-12
i.e. the carrying amount of the assets does not exceed the realizable
value of the Assets.
E) INVESTMENTS:
i) CLASSIFICATION : Investments are classified into the following
category :
Long Term Investments: All Investments in Securities, where such
investments are intended (at the time of purchase or acquisition
thereof) to be held for a period exceeding one year, are classified as
Long Term Investments.
ii) VALUATION:
i) Long-Term Investments are valued at cost. Diminution in their values
is however, not provided for, since not permanent in nature.
F) REVENUE RECOGNITION:
i) Fees for Management of Issues and Placement of Securities, if any,
are accounted for in accordance with the payment schedule as agreed in
Memorandum of Understanding entered into with the Is- sue Companies or
the Letter of Mandate accepted/signed by them.
ii) Dividends and Interest on Debentures are accounted for sand when
received.
iii) Service Charges for Fund Syndication, if any, are accounted for on
completion of Syndication.
G) TAXATION:
Provision for Income Tax, if any, is made after considering exemptions,
deductions and allowances avail- able as per the provisions of the
Income Tax Act, 1961.
H) RETIREMENT/GRATUITY BENEFITS:
Retirement benefits in the form of Gratuity is provided in the Profit
and Loss Account. Gratuity Liability is a defined benefit/obligation
and in the current year such provision has been made on the basis of an
actuarial valuation. Such actuarial valuation has been made on the
basis of Projected Unit Cost method.
Mar 31, 2011
I) BASIS OF ACCOUNTING :
The Company prepares its Accounts on accrual basis, except otherwise
stated, in consonance with the Generally Accepted Accounting Policies.
ii) FIXED ASSETS :
Fixed Assets are valued at Cost less Depreciation.
iii) DEPRECIATION :
Depreciation on Other Fixed Assets installed after 16.12.1993, is
provided on Straight Line basis at the rates and in the manner
specified in the Schedule XIV to the Companies Act, 1956 (As Amended).
In respect of the Fixed Assets installed prior to the above date,
Depreciation is provided on Straight Line basis at the rates applicable
in the re- spective year of Addition. Statutory Depreciation in respect
of Assets where the actual cost does not exceed Rs. 5,000/- is provided
at the rate of 100% in the year of Purchase/Installation.
iv) IMPAIRMENT OF ASSETS :
There has been no impairment during the Current Financial Year 2010-11
i.e. the carrying amount of the assets does not exceed the realizable
value of the Assets.
v) INVESTMENTS:
a) CLASSIFICATION : Investments are classified into the following
category :
Long Term Investments : All Investments in Securities, where such
investments are intended (at the time of purchase or acquisition
thereof) to be held for a period exceeding one year, are classified as
Long Term In- vestments.
b) VALUATION :
i) Long Term Investments are valued at cost. Diminution in their values
is however, not provided for, since not permanent in nature.
vi) REVENUE RECOGNITION :
a) Fees for Management of Issues and Placement of Securities, if any,
are accounted for in accordance with the payment schedule as agreed in
Memorandum of Understanding entered into with the Issuer Companies or
the Letter of Mandate accepted/signed by them.
b) Dividends and Interest on Debentures are accounted for as and when
received.
c) Service Charges for Fund Syndication, if any, are accounted for on
completion of Syndication.
vii) TAXATION :
Provision for Income Tax, if any, is made after considering exemptions,
deductions and allowances available as per the provisions of the Income
Tax Act, 1961.
viii) RETIREMENT/GRATUITY BENEFITS :
Retirement benefits in the form of Gratuity is provided in the Profit
and Loss Account. Gratuity Liability is a defined benefit/obligation
and in the current year such provision has been made on the basis of an
actuarial valuation. Such actuarial valuation has been made on the
basis of Projected Unit Cost method.
Provident Fund contribution are made to the Employees Provident Fund
Scheme of the Government of India. The Company does not have
Superannuation Pension Plan since the same is covered by contributions
to the Pension Scheme under Employees Provident Fund Act. The Company
has not made any investment in Plan Assets towards the Gratuity
Liability.
Mar 31, 2010
I) BASIS OF ACCOUNTING:
The Company prepares its Accounts on accrual basis, except otherwise
stated, in consonance with the Generally Accepted Accounting Policies.
ii) FIXED ASSETS :
Fixed Assets are valued at Cost less Depreciation.
iii) DEPRECIATION :
Depreciation on Other Fixed Assets installed after 16.12.1993, is
provided on Straight Line basis at the rates and in the manner
specified in the Schedule XIV to the Companies Act, 1956 (As Amended).
In respect of the Fixed Assets installed prior to the above date,
Depreciation is provided on Straight Line basis at the rates applicable
in the re- spective year of Addition. Statutory Depreciation in respect
of Assets where the actual cost does not exceed Rs. 5,000/- is
provided at the rate of 100% in the year of Purchase/Installation.
iv) IMPAIRMENT OF ASSETS:
There has been no impairment during the Current Financial Year 2009-10
i.e. the carrying amount of the assets does not exceed the realizable
value of the Assets.
v) INVESTMENTS :
a) CLASSIFICATION : Investments are classified into the following
category :
Long Term Investments : All Investments in Securities, where such
investments are intended (at the time of purchase or acquisition
thereof) to be held for a period exceeding one year, are classified as
Long Term In- vestments.
b) VALUATION :
i) Long Term Investments are valued at cost. Diminution in their values
is however, not provided for, since not permanent in nature.
vi) REVENUE RECOGNITION :
a) Fees for Management of Issues and Placement of Securities, if any,
are accounted for in accordance with the payment schedule as agreed in
Memorandum of Understanding entered into with the Issuer Companies or
the Letter of Mandate accepted/signed by them.
b) Dividends and Interest on Debentures are accounted for as and when
received.
c) Service Charges for Fund Syndication, if any, are accounted for on
completion of Syndication.
vii) TAXATION :
Provision for Income Tax, if any, is made after considering exemptions,
deductions and allowances available as per the provisions of the Income
Tax Act, 1961.
viii) RETIREMENT/GRATUITY BENEFITS:
Retirement benefits in the form of Gratuity is provided in the Profit
and Loss Account. Gratuity Liability is a defined benefit/obligation
and in the current year such provision has been made on the basis of an
actuarial valuation. Such actuarial valuation has been made on the
basis of Projected Unit Cost method.
Provident Fund contribution are made to the Employees Provident Fund
Scheme of the Government of India. The Company does not have
Superannuation Pension Plan since the same is covered by contributions
to the Pension Scheme under Employees Provident Fund Act. The Company
has not made any investment in Plan Assets towards the Gratuity
Liability.