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Notes to Accounts of Vintage Securities Ltd.

Mar 31, 2014

1. BASIS OF PREPERATION OF FINANCIAL STATEMENTS:

The financial statements have been prepared in accordance with generally accepted accounting principles in India. The company has prepared these financial statements to comply in all material respects with the notified accounting standard by Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 1956 (as amended) to the extent applicable read with the circular 15/2013 dated 13th September 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013 and as per the guidelines issued by the Reserve Bank of India (RBI) as applicable to a Non Banking Finance Company(NBFC). The financial statements have been prepared under the historical cost convention on an accrual basis except as otherwise stated elsewhere. The accounting policies have been consistently applied by the Company and are consistent with those used in the previous year, except for the change in presentation and disclosure of financial statements explained below.

2 a. Reconcilation of the shares outstanding at the beginning and at the end of the reporting period

The Company has neither issued nor bought back any shares during the financial year, hence there is no change in number of shares outstanding at the beginning & end of the year.

b. Terms / rights attached to equity shares

The Company has only equity shares having a par value of Rs.10/- per share. Each holder of equity share is entitled to one vote per share and the dividend if proposed by the Board of Directors and approved by the shareholders in the ensuing Annual General.

c. The Company is not a subsidiary company.

d. The Company has neither issued any bonus shares nor allot any shares pursuant to contract without payment received in cash nor bought back any shares during the financial year and in immediately preceding five financial years.

f. There is no Shares reserved for issue under options.

g. There is no convertible securiities outstanding at the end of the reporting period.

Note 3

EMPLOYEE BENEFITS

During the year the company has only one employee,hence Leave Encashment and Gratuity benefits at the undiscounted amount are charged off during the previous year in which the employee has rendered service.

4. Based on the information available with the company, the balance due to Micro, Small and Medium Enterprises as defined under the "The Micro, Small and Medium Enterprises Development Act,2006" is rupees Nil.

5. There is no small-scale industrial undertaking to whom the company owes amount outstanding for more than 30 days as at March 31, 2014.

6. The Company has received the certificate from Reserve Bank of India for registration as non-banking financial company as non-deposit taking company vides certificate no. 05.00237 dated 20-02-1998.

7. The board of director''s of the company has passed a resolution for non acceptance of deposit and consequently the company has not accepted any public deposit during the year under reference.

8. The company has transferred 20% of net profit i.e., Rs 55,793/- to reserve fund as required u/s 45 IC of Reserve Bank of India Act, 1934.

9. Under the provision of Non-Banking Financial (Non- Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007, the company has made Contingent Provision against Standard Assets @ 0.25% of the standard assets as at 31.03.2014.

10. Previous year''s figures have been regrouped/rearranged, wherever considered necessary.

11. The company has adopted AS-22 " Accounting for Taxes On Income" notified in terms of the company (Accounting Standards) Rules,2006 as amended. The company has not recognised deferred tax assets as at 31.03.2014 due to uncertainity of future taxable income against which the same can be adjusted. The company has no deferred tax liability as on 31.03.2014.

12. Schedules to Balance Sheet of a non deposit taking non-banking financial company as required in terms of paragraph 13 of non-banking financial (non deposit accepting or holding) companies prudential norms (Reserve Bank) Directions, 2007.

Notes :

1. As defined in Paragraph 2 (I) (xii) of the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions,1998.

2. Provisioning norms shall be applicable as prescribed in the Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007.

3. All Accounting Standards and Guidance Notes issued by ICAI are applicable including for valuation of Investments and other Assets as also assets acquired in satisfaction of debt. However, market value in respect of quoted Investments and break-up/fair value/NAV in respect of unquoted Investments should be disclosed irrespective of whether they are classified as long term or current in column(4) above.


Mar 31, 2013

BASIS OF PREPARATION OF FINANCIAL STATEMENTS:

The financial statements have been prepared in accordance with generally accepted accounting principles in India. The company has prepared these financial statements to comply in all material respects with the notified accounting standard by Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 1956 and the guidelines issued by the Reserve Bank of India (RBI) as applicable to a Non Banking Finance Company(NBFC). The financial statements have been prepared under the historical cost convention on an accrual basis except as otherwise stated elsewhere.The accounting policies have been consistently applied by the Company and are consistent with those used in the previous year, except for the change in presentation and disclosure of financial statements explained below.

1. Based on the information available with the company, the balance due to Micro, Small and Medium Enterprises as defined under the "The Micro, Small and Medium Enterprises Development Act,2006" is rupees Nil.

2. There is no small-scale industrial undertaking to whom the company owes amount outstanding for more than 30 days as at March 31, 2013.

3. The Company has received the certificate from Reserve Bank of India for registration as non-banking financial company as non- deposit taking company vides certificate no. 05.00237 dated 20-02-1998.

4. The board of director''s of the company has passed a resolution for non acceptance of deposit and consequently the company has not accepted any public deposit during the year under reference.

5. The company has transferred 20% of net profit i.e., Rs 26,766/- to reserve fund as required u/s 45 IC of Reserve Bank of India Act, 1934.

6. Under the provision of Non-Banking Financial (Non- Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007, the company has made Contingent Provision against Standard Assets @ 0.25% of the standard assets as at 31.03.2013.

7. Previous year''s figures have been regrouped/rearranged, wherever considered necessary.

8. Schedules to Balance Sheet of a non deposit taking non-banking financial company as required in terms of paragraph 13 of non- banking financial (non deposit accepting or holding) companies prudential norms (Reserve Bank) Directions, 2007.


Mar 31, 2012

Note"1"

BASIS OF PREPARATION OF FINANCIAL STATEMENTS:

The financial statements have been prepared in accordance with generally accepted accounting principles in India. The company has prepared these financial statements to comply in all material respects with the notified accounting standard by Companies (Accounting Standards) Rules, 2006 (as amended) and the relevant provisions of the Companies Act, 1956 and the guidelines issued by the Reserve Bank of India (RBI) as applicable to a Non Banking Finance Company(NBFC). The financial statements have been prepared under the historical cost convention on an accrual basis except as otherwise stated elsewhere. The accounting policies have been consistently applied by the Company and are consistent with those used in the previous year, except for the change in presentation and disclosure of financial statements explained below.

a. Reconcilation of the shares outstanding at the beginning and at the end of the reporting period

The Company has neither issued nor bought back any shares during the financial year, hence there is no change in number of shares outstanding at the beginning & end of the year.

b. Terms/rights attached to equity shares

The Company has only equity shares having a par value of Re. 10/- per share. Each holder of equity share is entitled to one vote per share and the dividend if proposed by the Board of Directors and approved by the shareholders in the ensuing Annual General.

c. The Company is not a subsidiary company.

d. The Company has neither issued any bonus shares nor allot any shares pursuant to contract without payment received in cash nor bought back any shares during the financial year and in immediately preceding five financial years.

EMPLOYEE BENEFITS

As per Accounting standard 15 "Employees Benefits" the disclosures of employee benefits as defined in the Accounting Standard are given below:

Defined Benefit Plan

The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is recognized in the same manner as gratuity.

VI. Actuarial assumptions

The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market. The above information is certified by the actuary.

The expected rate of return on plan assets is determined considering several applicable factors mainly, the composition of plan assets held, assessed risks, historical results of return on plan assets and the Company's policy for plan assets management.

During the year Company has withdrawn from the Group gratuity Fund facility availed by it on resignation of all its employee except one.

RELATED PARTY DISCLOSURES

As per Accounting Standard 18 issued by the Institute of Chartered Accountants of India, disclosures in respect of "Related Parties" are as follows:

List of related parties and relationships

a) Name of related parties Relationship

Vintage Capital Markets Ltd : Associated Concern

Century Aluminium Mfg. Co. Ltd : Associated Concern

b) Key Management Personnel & their relatives

i) Shri Vijay Kumar Mohatta : Non-Executive Director

Relatives of Shri Vijay Kumar Mohatta

Satyam Mohatta : Wife

Nandini Sutodia : Daughter

Suhashini Baheti : Daughter

Molushree Jhunjhunwala : Daughter

ii) Shri Rahul Sarda : Non Executive & Independent Director

Relatives of Shri Rahul Sarda

Sangeeta Sarda : Wife

Raghav Sarda : Son

Ragini Sarda : Daughter

Ravi Sarda : Father

Chitra Sarda : Mother

iii) Shri Sanjay Modi : Non Executive & Independent Director

Relatives of Shri Sanjay Modi

Sarita Modi : Wife

Shaurya Modi : Son

Maurya Modi : Son

Savitri Devi Modi : Mother

iv) Shri Laxmikant Parwa : Non Executive & (w.e.f. 22.09.2011) Independent Director

Relatives of Shri Laxmikant Parwa

Premlata Parwa : Wife

Srikant Parwa : Son

Saloni Parwa : Daughter

Ratna Devi Parwa : Mother

v) Shri Bhanwar Lal Rathi : Non Executive & (upto 09.11.2011) Promoter Director

Relatives of Shri Bhanwar Lal Rathi

Anita Rathi : Wife

Harshit Rathi : Son

Arpit Rathi : Son

Kamala Devi Rathi : Mother

Murlidhar Rathi : Father

vi) Shri Subrata Roy : Company Secretary & (w.e.f. 15.06.2011) Manager Finance Note "2"

PREVIOUS YEAR FIGURES

The Company was using pre-revised Schedule VI to the Companies Act 1956, for preparation and presentation of its financial statements till the year 31st March,2011. During the year ended 31st march,2012, the revised schedule VI notified under the Companies Act, 1956, has become applicable to the company. The Company has reclassified previous year figures to conform to this year's classification. The adoption of revised schedule VI does not impact recognition and measurement principles followed for preparation of financial statements. However, it significantly impacts presentation and disclosures made in the financial statements, particularly presentation of balance sheet.

3. Based on the information available with the company, the balance due to Micro, Small and Medium Enterprises as defined under the "The Micro, Small and Medium Enterprises Development Act,2006" is rupees Nil.

4. There is no small-scale industrial undertaking to whom the company owes amount outstanding for more than 30 days as at 31st March, 2012.

5. The Company has received the certificate from Reserve Bank of India for registration as non-banking financial company as non-deposit taking company vides certificate no. 05.00237 dated 20-02-1998.

6. The board of director's of the company has passed a resolution for non acceptance of deposit and consequently the company has not accepted any public deposit during the year under reference.

7. Due to loss incurred by the company, the company has not transferred any amount to reserve fund as required u/s 45 IC of Reserve Bank of India Act, 1934.

8. Under the provision of Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007, the company has made Contingent Provision against Standard Assets @ 0.25% of the standard assets as at 31st March, 2012.

9. Schedule to Balance Sheet of a non deposit taking non-banking financial company as required in terms of paragraph 13 of non-bankina financial (non deposit accepting or holding) companies prudential norms (Reserve Bank) Directions. 2007.

Particulars As at As at 31st March, 2012 31st, March 2012 Rs. in ('000) Rs. in('000) Amount Outstanding Amount Overdue

Liabilities Side:

1. Loans & Advances availed by the non- banking financial company inclusive of interest occurred thereon but not paid :

a. Debentures :

Secured NIL NIL

Unsecured NIL NIL

(Other than faling within the meaning of public deposits*)

b. Deferred Credits NIL NIL

c. Term Loans NIL NIL

d. Inter-Corporate Loans & Borrowings NIL NIL

e. Other Loans (specify nature) NIL NIL

* Please see note 1 below

Assets Side: Amount outstanding (Rs. in '000)

2. Break-up of Loans & Advances including bills receivables (other than those included in (4) below) :

a. Secured NIL

b. Unsecured 4,281.12

3. Break-up of Leased Assets and stock on hire and other assets counting towards AFC activities :

i. Lease assets including lease rentals under sundry debtors

a. Financial Lease NIL

b. Operating Lease NIL

ii. Stock on hire including hire charges under sundry debtors

a. Assets on hire NIL

b. Repossessed Assets NIL

iii. Other loans counting towards AFC activities

a. Loans where assets have been Repossessed NIL

b. Loans other than (a) above NIL

4. Break-up of Investments :

Current Investments

1. Quoted :

i. Shares

a. Equity NIL

b. Preference NIL

ii. Debentures and Bonds NIL

iii. Units of Mutual Funds NIL

iv. Government Securities NIL v. Others (Please specify) NIL

2. Unquoted :

i. Shares a. Equity NIL

b. Preference NIL

ii. Debentures and Bonds NIL

iii. Units of Mutual Funds NIL

iv. Government Securities NIL

v. Others (Please specify) NIL Amount outstanding (Rs. in '000)

Long Term Investments

1. Quoted :

i. Shares

a. Equity (refer note 11 of the Balance Sheet) 12,084.71

b. Preference NIL

ii. Debentures and Bonds NIL

iii. Units of Mutual Funds NIL

iv. Government Securities NIL

v. Others (Please specify) NIL

2. Unquoted: i. Shares a. Equity (refer note 11 of the Balance Sheet) 23,820.22

b. Preference NIL

ii. Debentures and Bonds NIL

iii. Units of Mutual Funds NIL iv. Government Securities NIL

v. Others (Please specify) NIL



7. Other Information : Rs. in ('000)

Particulars Amount

i. Gross Non-Performing Assets

a. Related Parties NIL

b. Other than related Parties NIL

ii. Net Non-Performing Assets

a. Related Parties NIL

b. Other than related Parties NIL

iii. Assets acquired in satisfaction of debt NIL

Notes :

1. As defined in Paragraph 2 (I) (xii)of the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998.

2. Provisioning norms shall be applicable as prescribed in the Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007.

3. All Accounting Standards and Guidance Notes issued by ICAI are applicable including for valuation of Investments and other Assets as also assets acquired in satisfaction of debt. However, market value in respect of quoted Investments and break-up/fair value/NAV in respect of unquoted Investments should be disclosed irrespective of whether they are classified as long term or current in column(4) above.


Mar 31, 2010

A. The Company has received the certificate from Reserve Bank of India for registration as non-banking fianncial company as non-deposit taking company vide certificate no. 05.00237 dated 02.12.1998.

B. The Board of Directors of the company has passed a resolution for non acceptance of deposit and consequently the company has not accepted any public deposit during the year under reference.

C. Based on the information available with the company, the balance due to Micro, Small and Medium Enterprises as defined under the "The Micro, Small and Medium Enterprises Development Act, 2006" is rupees Nil.

D. There is no small - scall industrial undertaking to whom the company owes amount outstanding for more than 30 days as at March 31, 2010.

E. Due to loss incurred by the company, the company has not transferred 20% of the net profit to reserve fund as required u/s 45 IC.

F. Debtors, Creditors and Advances are as per books maintained by the company and are subject to confirmation. In the opinion of the directors, current assets, loans and advances have the value at which they are stated in the Balance Sheet, if realized in the ordinary course of business.

G. Deferred Tax is recognized, subject to the consideration of prudence, on timing differences, being the difference between taxable-income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax assets, including assets arising from loss carred forward, are not recognized unless there is virtual certainty that sufficient future taxable income will be available against which such deferred tax assets can be realized.

H. Related party disclosures in accordance with the Accounting Standard 18 issued by the Institute of Chartered Accountants of India.

a) Names of Related party

SL NO. NAME OF RELATED PARTY RELATIONSHIP

1 VINTAGE CAPITAL MARKETS LTD ASSOCIATED CONCERN

b) Key Management Personnel & their relatives

(i) Shri Vijay Kumar Mohatta : Managing Director

Relatives of Vijay Kumar Mohatta

a) Satyam Mohatta - wife

b) Nandini Sutodia - Daughter

c) Suhasini Baheti - Daughter

d) Molushree Jhunjhunwala - Daughter

(ii) Shri Bhanwar Lal Rathi : Non Executive & Promoter Director

Relatives of Bhanwar Lal Rathi

a) Anita Rathi - Wife

b) Harshit Rathi - Son

c) Arpit Rathi - Son

d) Kamala Devi Rathi - Mother

e) Murlidhar Rathi - Father

(iii) Shri Rahul Sarda : Non Executive & Independent Director

Relatives of Rahul Sarda

a) Sangeeta Sarda - Wife

b) Raghav Sarda - Son

c) Ragini Sarda - Daughter

d) Ravi Sarda - Father

e) Chitra Sarda - Mother

(iv) Shri Sanjay Modi : Non Executive & Independent Director

Relatives of Sanjay Modi

a) Sarita Modi - Wife

b) Shaurya Modi - Son

c) Maurya Modi - Son

d) Savitri Devi Modi - Mother

I. As per Accounting standard 15 "Employees Benefits" the disclosures of employee benefits as defined in the Accounting Standard are given below :-

Defined Benefit Plan

The employees fund scheme managed by a Trust is a defined benefit plan. The present value of obligation is determined based on acturial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation for leave encashment is recognized in the same manner as gratuity.

The estimates of rate of escalation in salary considered in acturial valuation, take into account inflation, seniority, promotion and the relevant factors including supply and demand in the employment market. The above information is certified by the actuary.

The expected rate of return on plan assets is determined considering several applicable factors mainly, the composition of plan assets held, assessed risks, historical results of return on plan assets and the Companys policy for plan assets management.

J. The Company had made a provision of Rs. 15,200/- against the rent receivable for the earlier year due to non-reciept of the same & Rs. 86,906 due from Rashmi Vypaar Pvt. Ltd against interest amount of earlier years. For the current year, no rent income have been recognized as in the opinion of the management, the recovery is uncertain. The matter is sub-judice.

K. Particulars in respect of Opening Stock, Purchase, Sale and Closing Stock of Inventory :

L. Salary includes a sum of Rs. 430,000 paid to Managing Director.

M. As required under part IV of the schdule of the Companies Act, 1956 the companys profile is given in the Annexure - A.

N. Schedules to Balance Sheet of a non deposit taking non-banking financial company as required in terms of paragraph 13 of non-banking financial (non deposit accepting or holding) companies prudential norms (Reserve Bank) Directors, 2007 is attached herewith.

O. Previous year figures have been re-grouped and re-arranged, wherever considered necessary.

Notes:

1. All Accounting Standards and Guidance Notes issued by ICAI are applicable including for valuation of investments and other assets as also assets acquired in satisfaction of debt. However, market value in respect of quoted investments and break up/fair value/NAV in respect of unquoted investments should be disclosed irrespective of whether they are classified as long term or current in column (5) above.

 
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