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Notes to Accounts of Viji Finance Ltd.

Mar 31, 2015

1.Terms/rights attached to equity shares:

The company has only clases of equity shares having a par value of Rs.10 per share Each holder of equity shares is entitled to one vote per share.

2. In the opinion of the Board of Directors the current assets (except Loans & Advances) have value on realization in the ordinary course of the business as

3. Confirmation in respect of the any ofdebit balance, loans, advance and borrowing have not been received and in absence thereof their correctness can't be ascertained.

4. The Board of Directors of the Company has passed a resolution for not holding an) public deposit as on date as well as non acceptance of any public deposit in future without obtaining written prior permission from the Reserve Bank of India, accordingly the company has not accepted any public deposit during lhe financial year ended on J1 1 March, 2015.

5. The Board of Director have recommended a dividend q 3% t,e. Rs. 0.30 per equity share of Rs, 10/-each for the financial year ended March 31,2015.

6. During the year company has complied with the guidelines issued by the Reserve Bank of India m respect of prudential Norms for Income recognition and Provisioning for Non Performing Assets.

7. Expend t mre incurred in foreign currency during the year NIL

8. Re li remem Benefits: These a re no t appli ca ble.

9. Contingent Liabilities: NIL

10. No contracts-remains to be executed on capital Account and not provided for as. on 31 March. 2015.

11. Expenditure in foreign currency: NIL

12. C.I.F. value of imports: NIL

13. The companv is a public limited company and listed in stock exchanges.

14 In accordance with the provision of accounting standard -17 the Company have only one reporting segment.

15. The company owes no dues to small and medium enterprises which are outstanding for more than 45 days at the balance sheet date.

16. During the year, lire company has revised its estimates of useful life of its fixed assets as prescribed in Part C in Schedule II of the Company's Act 2013. Caring amount less residual value of the assets whose remaining useful life lias become Nil has been adjusted with the opening balance of retained earnings.

17. Related party disclosure [AccountingStandard - 18)

Key.Management Personnel Sa Relatives

Shri Vijay Kothari Director

Shri ManishTambi Whole Time Director

Shri.Suresh Singh Jain Independent Director

Shri Hiren Kamdar Independent Director

MsRoshaniM ahe sh wan LndependcntDirector

Ms. Shilpa Kothari Relative of Director

Ms. Neha Tambi Relative of Director

Arusht Homes Associate firm

18. PixVtous war's iiyurea have htvn rwlassi/ivil regrouped and rearaanged Win-(ever found ncossiir}1 to make them comparable


Mar 31, 2014

1. INCOME/EXPENDITUREDURINGTHE CONSTRUCTION PERIOD

No construction activities undertaken during the year hence not applicable.

2. INVENTORIES

No inventory held, hence notapplicable.

3. RESEARCH AND DEVELOPMENT

Beingfinance company no research activity carried outhence notapplicable

4. In opinion of the Board, the provision for known liabilities are adequate

a) Company has also not made provisions of interest on advances and on disputed these advances provision for bad doubtful debts has been made already existing as per policy of Reserve Bank of India for Non Banking Finance company:

b) Assets classification & Provision there on: -

c) Expenditure incurred in foreign currency during the year Nil.-

d) Fixed Assets: Fixed Assets has been shown at cost price including all installation expenses.

e) Deprecation has been charged on S.L.M. as prescribed under the Companies Act. 1956.

f) Retirement Benefits: These are not applicable.

g) Investment Investments are value at cost price.

h) Contingent Liabilities: NIL

i) No contracts-remains to be executed on capital Account and not provided for as on 31st March, 2014.

j) Expenditure in foreign currency: NIL

k) C.I.F value of imports: NIL

l) The company is a public limited company but it has listed in stock exchanges during the year.

m) In accordance with the provision of accounting standard -17 the Company have only one reporting segment.

Related party disclosure (Accounting Standard -18]

Key Management Personnel & Relatives

Shri Vijay Kothari Director

Shri Manish Tambi Whole Time Director

Shri Manish Sanghavi Director

Shri Suresh Singh Jain Director

Shri Hiren Kamdar Director

n) Earning per share

Profit (Loss) per share in based on profit (loss) for the year after tax reported in the Profit and Loss account, divided by 7500000 equity shares issued.

o) Previous year''s figures have been reclassified regrouped and rearranged wherever found necessary to make them comparable.


Mar 31, 2012

A) INCOME RECOGNITION

Interest and other income are accounted on accrual basis on loans & advance but where receipt of interest is doubtful/ N.P.A. no provision has been made in the books.

b) During the year company has complied with the guidelines issued by the Reserve Bank of India in respect of prudential Norms for Income recognition and Provisioning for Non Performing Assets.

c) BORROWING COST: borrowing cost that is attributable to the acquisition construction or production of qualifying assets are capitalizes as part of the cost of such assets. All other borrowing costs are recognized as an expense in period which they are incurred.

d) EXPENSES

It is the policy of the company to provide all the expenses on accrual basis.

e) PROFIT AND LOSS ACCOUNT

f) In the opinion of the Board of Directors the current assets (except Loans & Advances) have value on realization in the ordinary course of the business as least equal the amount at which these are stated.

g) Confirmation in respect of the any of debit balance, loans, advance and borrowing have not been received and in absence thereof their correctness can''t be ascertained.

h) Previous year''s figures have been reclassified regrouped and rearranged wherever found necessary to make them comparable.

i) Company has also not made provisions of interest on advances and on disputed these advances provision for bad doubtful debts has been made already existing as per policy of Reserve Bank of India for Non Banking Finance company:

j) In view of the unsatisfactory business environment, the company does not expect sufficient future taxable income. As such the company has not recognized any deferred tax assets/ liabilities in accordance with Accounting Standard 22 "Accounting for taxes on income" issued by the Institute of Chartered Accountants of India.

k) Fixed Assets: Fixed Assets has been shown at cost price including all installation expenses.

l) The company is a public limited company ,but it has listed in stock exchanges during the year.

m) In accordance with the provision of accounting standard -17 the Company have only one reporting segment.

n) Profit (Loss) per share

Profit (Loss) per share in based on profit (loss) for the year after tax reported in the Profit and Loss account, divided by 3000000 equity shares issued.


Mar 31, 2011

A) INCOME RECOGNITION

Interest and other income are accounted on accrual basis on loans & advance but where receipt of interest is doubtful/ N.P.A. no provision has been made in the books.

b) During the year company has complied with the guidelines issued by the Reserve Bank of India in respect of prudential Norms for Income recognition and Provisioning for Non Performing Assets.

c) BORROWING COST: borrowing cost that is attributable to the acquisition construction or production of qualifying assets are capitalizes as part of the cost of such assets. All other borrowing costs are recognized as an expense in period which they are incurred.

d) EXPENSES

It is the policy of the company to provide all the expenses on accrual basis.

1. Audit Fees 10000/-

e) PROFIT AND LOSS ACCOUNT

f) In the opinion of the Board of Directors the current assets (except Loans & Advances) have value on realization in the ordinary course of the business as least equal the amount at which these are stated.

g) Confirmation in respect of the any of debit balance, loans, advance and borrowing have not been received and in absence thereof their correctness can''t be ascertained.

h) Previous year''s figures have been regrouped and rearranged wherever necessary.

i) Company has also not made provisions of interest on advances and on disputed these advances provision for bad doubtful debts has been made already existing as per policy of Reserve Bank of India for Non Banking Finance company:

j) In view of the unsatisfactory business environment, the company does not expect sufficient future taxable income. As such the company has not recognized any deferred tax assets/ liabilities in accordance with Accounting Standard 22 "Accounting for taxes on income" issued by the Institute of Chartered Accountants of India.

k) Expenditure incurred in foreign currency during the year Nil.- n) Fixed Assets: There is Fixed Assets.

l) Contingent Liabilities: NIL

M) Preliminary & preoperative expenses, Capital issue expenses are amortized equally over a period of ten years.

N) The company is a public limited company ,but it has not listed in stock exchanges during The year.

O) In accordance with the provision of accounting standard -17 the Company have only one reporting segment.

Profit (Loss) per share in based on profit (loss) , for the year after tax reported in the Profit and Loss account, divided by 3000000 equity shares issued.

 
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