Mar 31, 2018
NOTE 1 A] BACKGROUND:
Vibrant Global Capital Limited (âthe Companyâ) is registered as a Non-Banking Financial Company (âNBFCâ) as defined under Section 45-IA of the Reserve Bank of India Act, 1934. The Company is principally engaged in lending and investing activities.
d) Terms and Rights attached to Equity Shares
i. The Company has only one class of Equity Shares having a par value of Rs.10 per share. Each holder of Equity Shares is entitled to one vote per share except Vibrant Global Infraproject Private Limited and Vibrant Global Trading Private Limited as the Company is holding company of these companies. As per the provisions of Section 19(1) of Companies Act,2013, these shareholders will not have voting rights at the meetings of Vibrant Global Capital Ltd.
ii. They are also entitled to dividend if proposed by the Board of Directors and approved by the shareholders in the ensuing Annual General Meeting except in case of interim dividend.
iii. In the event of liquidation, the equity shareholders are entitled to receive the remaining assets of the Company after distribution of all preferential amount, in proportion to their shareholding.
Secured Loans: The company has taken a short-term loan against shares from Bajaj Finserv Ltd. & an overdraft from HDFC Bank Ltd. against lien of Fixed Deposit amounting to Rs. 1,00,00,000/- which carries interest @ 6.5% p.a.& 5.5% p.a. respectively.
NOTE
All the above advances are towards normal NBFC business of the company and are utilised by borrowers for their short term business needs. These advances bear varied interest as per agreed terms between borrower and the company
NOTE 2. In the opinion of the Board Current Assets, Loans and Advances have a realisable value at an amount at which they are stated in the balance sheet, if realised in the ordinary course of business.
NOTE 3. The stock of shares is valued at lower of cost or net realisable value whichever is less. Cost is ascertained on FIFO basis.
NOTE 4. Investments in Shares includes the shares valuing Rs. 9,37,61,301 pledged with Bajaj Finserv Ltd as security against loan.
NOTE 5. Long term loans and advances includes Rs. 58,00,000 being part payment made for purchase of property. As reported in earlier years, the company has filed a suit in the High Court of Judicature at Mumbai for specific performance of this agreement for purchase.
NOTE 6. The Company has borrowed interest free loan from certain corporate entities. Opening balance of such borrowings is Rs.13,75,00,000 and after repayment of Rs. 4,75,00,000 closing balance of such loan is Rs.9,00,00,000.
NOTE 7. Previous year figures have been regrouped/rearranged wherever felt necessary to make them comparable with current year figures.
NOTE 8. RELATED PARTY DISCLOSURE-AS-18
According to the Accounting Standard 18 (Related Party Disclosure) issued by the Institute of Chartered Accountants of India, the disclosure of transactions with the related parties as defined in the Accounting Standard are given as per Annexure I attached.
Note 9. SEGMENT REPORTING - AS - 17
According to the Accounting Standard 17 (Segment Reporting) issued by the Institute of Chartered Accountants of India, the disclosure of reportable segments as defined in the Accounting Standard are given as per Annexure II attached.
DISCLOSURE REQUIREMENT AS PER AS-17 : SEGMENT REPO RTING
A. Segment information as per Accounting Standard - 17 on Segment Reporting :
Information provided in respect of revenue items for the year ended 31st March, 2018 and in respect of assets / liabilities as at 31st March, 2018.
i. Primary/ Secondary Segment Reporting Format:
The risk return profile of the Company''s business is determined predominantly by the nature of its product. Accordingly, the business segments constitute the Primary Segments for the disclosure of segment information.
ii. Reportable Segments:
Segments have been identified and reported taking into account the differing risks and returns, nature of the products, the organisational structure and the internal reporting system of the Company.
iii. Segment Composition:
Capital Market Segment includes trading and investment in Shares and Futures and Options.
Financing Activity includes business of lending activities
Mar 31, 2016
1. Terms and Rights attached to Equity Shares
2. The Company has only one class of Equity Shares having a par value of Rs.10 per share. Each holder of Equity Shares is entitled to one vote per share except Vibrant Global Infraproject Pvt. Ltd and Vibrant Global Trading Pvt. Ltd. as the Company is holding company of these companies. As per the provisions of Section 19(1) of Companies Act,2013, these shareholders will not have voting rights at the meetings of Vibrant Global Capital Ltd.
3. They are also entitled to dividend if proposed by the Board of Directors and approved by the shareholders in the ensuing Annual General Meeting except in case of interim dividend, iii. In the event of liquidation the equity shareholders are entitled to receive the remaining assets of the Company after distribution of all preferential amount, in proportion to their share holding.
All the above advances are towards normal NBFC business of the company and are utilized by borrowers for their short term business needs. These advances bear varied interest as per agreed terms between borrower and the company except in case of Om Ispat having an outstanding advance of Rs. 35 lakhs on which no interest is charged.
4. In the opinion of the Board Current Assets, Loans and Advances have a realizable value at an amount at which they are stated in the balance sheet, if realized in the ordinary course of business. .
5. The stock of shares is valued at lower of cost or net realizable value whichever is less. Cost is ascertained on FIFO basis.
6.The Closing stock & Investments in Shares includes the shares valuing Rs.4,07,95,901/- deposited with the Broker Fortune Interfinance Ltd.as Security for Trading in Futures.
7.Earning Per Share (EPS):
EPS is calculated by dividing the profit attributable to the equity shareholders by the weighted average number of equity shares outstanding during the year. Calculation of Basic earnings per equity share is stated below:
8.Long term loans and advances includes Rs. 58 Lakhs being part payment made for purchase of property. As reported in earlier years, the company has filed a suit in the High Court of Judicature at Mumbai for specific performance of this agreement for purchase.
9.The Company has borrowed interest free loan from certain corporate entities. Opening balance of such borrowings is Rs. 25,81,72,407/- (including opening balance of Rs. 8,41,72,407 bearing interest till last year) and further accepted loan during the year is Rs. 28,53,00,000/-. Closing balance of such loan is Rs.14,75,00,000/-
10.The Company has granted interest free loan to certain corporate entities. Opening balance of such loan is Rs. 4,24,50,000/- and further grant of loan during the year Is Rs. 2,70,00,000/-, having no Closing balance. Similarly, the Company has also granted Interest free loan to certain non-corporate entities. Opening balance of such loan is Rs. 1,66,75,000/- and further grant of loan during the year is Rs. 65,00,000/-. Closing balance of such loan is Rs.35,00,000/-.
11.Previous year figures have been regrouped/rearranged wherever felt necessary to make them comparable with current year figures.
12.RELATED PARTY DISCLOSURE-AS-18
According to the Accounting Standard 18 (Related Party Disclosure) issued by the Institute of Chartered Accountants of India, the disclosure of transactions with the related parties as defined in the Accounting Standard are given as per Annexure I attached.
13.SEGMENT REPORTING - AS -17
According to the Accounting Standard 17 (Segment Reporting) issued by the Institute of Chartered Accountants of India, the disclosure of reportable segments as defined in the Accounting Standard are given as per Annexure II attached.
Mar 31, 2015
NOTE 1 BACKGROUND:
Vibrant Global Capital Limited ('the Company') is registered as a
Non-Banking Financial Company ('NBFC') as defined under Section 45-lA
of the Reserve Bank of India Act, 1934. The Company is principally
engaged in lending and investing activities. During the year, the
company has made an initial public offer of 30 lakhs shares & the
company has been listed in Bombay Stock Exchange (BSE)- SME Platform on
21st October 2014.
NOTE 2 CONTINGENT LIABILITIES
31.03.2015 31.03.2014
Contingent Liability NIL NIL
NOTE 3 SHARE CAPITAL
a) Terms and Rights attached to Equity Shares
i. The Company has only one class of Equity Shares having a par value
of Rs.10 per share. Each holder of Equity Shares is entitled to one
vote per share except Vibrant Global Infraproject Pvt. Ltd and Vibrant
Global Trading Pvt. Ltd. as the Company is holding company of these
companies. As per the provisions of Section 19(1) of Companies
Act,2013, these shareholders will not have voting rights at the
meetings of Vibrant Global Capital Ltd.
ii. They are also entitled to dividend if proposed by the Board of
Directors and approved by the shareholders in the ensuing Annual
General Meeting except in case of interim dividend.
iii. In the event of liquidation the equity shareholders are entitled
to receive the remaining assets of the Company after distribution of
all preferential amount, in proportion to their share holding.
NOTE 4 In the opinion of the Board Current Assets. Loans and Advances
have a realisable value at an amount at which they are stated in the
balance sheet, if realised in the ordinary course of business.
NOTE 5 The stock of shares is valued at lower of cost or net
realisable value whichever is less. Cost is ascertained on FIFO basis.
NOTE 6 Initial Public Offer
i) During the year, the company has made an Initial Public Offer (IPO)
through Book Building process of 3,000,000 numbers of Equity Shares @
Rs.10/- each. The equity shares have been priced and allotted at
Rs.19/- per equity share. (Including Share premium at Rs.9/- per
equity share) The company has raised Rs.5.70 crore out of the IPO. The
equity shares offer to the public have been allotted on 17th October
2014 and have been listed in the Bombay Stock Exchange (BSE) - SME
Platform on 21st October 2014. Accordingly issued and paid up share
capital has increased from R5.19.91 crore to Rs.22.91 crore and an
amount of Rs.2.28 crore (Net of Issue expenses of Rs.0.42 crore) has
been credited to securities premium account. The proceeds of the issue
(net of issue expenses) are being utilized for the purpose mentioned in
the prospectus.
NOTE 7 Long term loans and advances includes Rs. 58 Lakhs being part
payment made for purchase of property. The company has filed a suit in
the High Court of Judicature at Mumbai for specific performance of this
agreement for purchase.
NOTE 8 The Company has borrowed interest free loan from certain
corporate entities. Opening balance of such borrowings is Rs.
43,53,90,000/- and further accepted loan during the year is Rs.
13,86,50,000/-. Closing balance of such loan is Rs. 17,40,00,000/-.
NOTE 9 The Company has granted interest free loan to certain corporate
entities. Opening balance of such loan is Rs.14,19,37,500/- and further
grant of loan during the year is Rs, 8,57,77,500/-. Closing balance of
such loan is Rs. 4,24,50,000/-.
Similarly, the Company has alos granted interest free loan to certain
non-corporate entities. Opening balance of such loan is Rs.
2,85,09,155/- and further grant of loan during the year is Rs.
3,70,00,000/-. Closing balance of such loan is Rs. 1,66,75,000/-. Out
of this, Rs. 29,25,000/- is classified as Sub-Standard Asset.
NOTE 10 RELATED PARTY DISCLOSURE-AS-18
According to the Accounting Standard 18 (Related Party Disclosure)
issued by the Institute of Chartered Accountants of India, the
disclosure of transactions with the related parties as defined in the
Accounting Standard are given as per Annexure I attached.
NOTE 11 SEGMENT REPORTING - AS - 17
According to the Accounting Standard 17 (Segment Reporting) issued by
the Institute of Chartered Accountants of India, the disclosure of
reportable segments as defined in the Accounting Standard are given as
per Annexure II attached.
DISCLOSURE REQUIREMENT AS PER AS-18 : RELATED PARTY DISCLOSURE
(01.04.2014 TO 31.03.2015)
List of related parties and relationship
Sr.No NAME OF THE RELATED PARTIES Relation
1 Vaibhav Vinod Garg
2 Vinod Ramnwos Garg
3 Rahul Ramesh Bagdia
4 Harsh Raj kumar Metiadra
5 DipitShanna Key Management Personnel
6 Nitai shrivas (retired on 05 09.14)
7 Lokesh Jain (retired on 10 09.14)
8 Kartik Jain (retired on 05 09.14)
1 Vibrant Global Infraproject Pvt Ltd
2 Vibrant Global Taring Pvt Ltd Subsidiary
1 Vibrant Global Salt Pvt Ltd
2 Vibrant Global Vidyut Pvt Ltd
Associate
3 Tapaoa Polyesteis Pvt Ltd.(ceases to
be associate on 31.03.15)
1 Val Pack Solutions Private Ltd
2 Lokesh Industrial Services Pvt Lid
(coasts to have significant influence Enterprises on which
on 05.09.14) Key Management
Personnel along with
3 Lokesh Motalbcs (ceases to have Relatives Have
significant influence on 05.09.14) Significant Influence
1 Precision Ispat Pvt Ltd
2 Allyis India Pvl Lid
3 Interior Vibrant Stool Private
Limited
4 Vibrant Global Broking (India) Enterprise on which
Pvt Ltd Key Management
Personnel Have
5 Vibrant Global Housing Finance Control
Pvl Ltd
6 Lokesh lnlrapro
1 Huai Kamam
2 Riddhima Garg Relatives or Key
Management Personnel
3 Govmd Narayan Garg