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Notes to Accounts of Voltaire Leasing & Finance Ltd.

Mar 31, 2015

Note 1 : SEGMENT INFORMATION (as-17)

i. The Company's business segments are identified around products in which company deals.

ii. The accounting policies used in the preparation of the financial statements of the Company are also applied for segment reporting.

iii. Segment revenues, expenses, assets and liabilities are those, which are directly attributable to the segment or are allocated on an appropriate basis. Corporate and other revenues, expenses, assets and liabilities to the extent not allocable to segments are disclosed in the reconciliation of reportable segments with the financial statements.

iv. Figures in brackets are in respect of the previous year.

note 2. : RELATED PARTY DISCLOSURE

Related party disclosures, as required by AS - 18, "Related Party Disclosures" are given below:

a) directors

- Amlesh Sadhu - Managing Director

- Nirmal Kr. Manna - Director

- Dilip R. Patodia - Director

- Ravi Saraswat - Director

a) relationships

a) related parties where common control exists

Name of the Companies where the directors can exercise the control

- Shree Nidhi Trading co.Ltd

- PyzinaTraders Private Limited

- KathakaliVincomPrivate Limited

- ShreehariVinimay Pvt. Ltd.

- Sidhivinayak Broking Limited

b) key management Personnel

Amlesh Sadhu - Managing Director

Dilip R Patodia - Director

c) transactions with related Parties-

During the year under consideration no transactions with related party were entered into.

note 3: earning Per share

No Potential Equity Shares were outstanding as on 31.03.2015 and hence Basics and Diluted Earnings Per Shares are Same.

note 4: contingent liabilities & Provisions

In View of the management there are no contingent liabilities and commitments against the company.

note 5: deferred tax

During the year there are no transactions leading to timing differences resulting to deferred tax liability. Following the concept of Prudence Company has not recognized any deferred tax assets.

note 6.

Balances of Sundry Debtors, Unsecured Loans, Sundry Creditors and Loans & Advances are subject to reconciliation, since confirmations have not been received from them. Necessary entries shall be passed on the receipt of the same if required.

note 7

In the opinion of the management, the Current Assets, Loans & Advances are approximately of the value stated, if realized in the ordinary course of business. The provisions for all known liabilities are ascertained.

note 8.

The Company has not received the required information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the yearend together with interest paid/payable as required under the said Act have not been made.

note 9

Previous year's figures have been grouped/ regrouped, arranged/rearranged wherever necessary to make them comparable.


Mar 31, 2014

Note 1: SEGMENT INFORMATION (AS-17)

i. The Company''s business segments are identified around products in which company deals.

ii. The accounting policies used in the preparation of the financial statements of the Company are also applied for segment reporting.

iii. Segment revenues, expenses, assets and liabilities are those, which are directly attributable to the segment or are allocated on an appropriate basis. Corporate and other revenues, expenses, assets and liabilities to the extent not allocable to segments are disclosed in the reconciliation ofreportable segments with the financial statements.

iv. Figures in brackets are in respect of the previous year.

C) Transactions with Related Parties-

During the year under consideration no transactions with related party were entered into.

Note 2: EARNING PER SHARE

No Potential Equity Shares were outstanding as on 31.03.2013 and hence Basics and Diluted Earnings Per Shares are Same.

Note 3: Contingent Liabilities & Provisions

In View of the management there are no contingent liabilities and commitments against the company.

Note 4: In view of the Management provision for gratuity is not required since none of the employee had worked for more than 6 months during the year.

Note 5: Balances of Sundry Debtors, Unsecured Loans, Sundry Creditors and Loans & Advances are subject to reconciliation, since confirmations have not been received from them. Necessary entries shall be passed on the receipt ofthe same if required.

Note 6: In the opinion of the management, the Current Assets, Loans & Advances are approximately of the value stated, if realized in the ordinary course of business. The provisions for all known liabilities are ascertained.

Note 7: The Company has not received the required information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid/payable as required under the said Act have not been made.

Note 8: The Company has not provided for Gratuity and Leave Encashment to Employees on accrual basis, which is not in conformity with AS - 15 issued by ICAI. However, in the opinion of management the amount involved is negligible and has no impact on Profit & Loss Account.

Note 9: Previous year''s figures have been grouped/ regrouped, arranged/rearranged wherever necessary to make them comparable.


Mar 31, 2013

Note 1: SEGMENT INFORMATION (AS-17)

During the year company has not carried out any business activity except for the trading of Shares and Securities and hence Accounting Standard 17 SEGMENT INFORMATION is not applicable.

Note 2: RELATED PARTY DISCLOSURE

Related party disclosures, as required by AS - 18, "Related Party Disclosures" are given below:

A) Directors

- Amlesh Sadhu - Managing Director

- Harivallabh P. Mundhra - Director

- Nirman Kr. Manna - Director

- Shreevallabh Mundhra - Director

B) Relationships

a) Related parties where common control exists

Not Any

b) Key Management Personnel

Amlesh Sadhu - Managing Director

Harivallabh P. Mundhra - Director

Nirman Kr. Manna - Director

Shreevallabh Mundhra - Director

C) Transactions with Related Parties

During the year under consideration no transactions with related party were entered into.

Note 3: EARNING PER SHARE

No Potential Equity Shares were outstanding as on 31.03.2013 and hence Basics and Diluted Earning Per Shares are Same. Basic Earning Per Share/ Diluted Earning Per Share

Note 4: Balances of Sundry Debtors, Unsecured Loans, Sundry Creditors and Loans & Advances are subject to reconciliation, since confirmations have not been received from them. Necessary entries shall be passed on the receipt of the same if required.

Note 5: In the opinion of the management, the Current Assets, Loans & Advances are approximately of the value stated, if realized in the ordinary course of business. The provisions for all known liabilities are ascertained.

Note 6: The Company has issued 27,78,000 new Equity Shares. These shares have been allotted at a price of Rs. 50/- each which is in accordance with the Preferential Issue Guidelines issued by Securities and Exchange Board of India.

Note 7: The Company has not received the required information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the year end together with interest paid/payable as required under the said Act have not been made.

Note 8: The Company has not provided for Gratuity and Leave Encashment to Employees on accrual basis, which is not in conformity with AS - 15 issued by ICAI. However, in the opinion of management the amount involved is negligible and has no impact on Profit & Loss Account.

Note 9: Previous year''s figures have been grouped/ regrouped, arranged/rearranged wherever necessary to make them comparable.


Mar 31, 2009

I) Previous years figures are regrouped, re-arrange and re-classified wherever considered necessary

2) In the opinion of the Board, adequate provision has been made for all known liabilities and the s; is no! in excess of amounts considered reasonably necessary.

3} The provision of" Provident Fund Act and Gratuity Act are not applicable to the Company.

4) In the opinion of the Board the Loans and Advances are approximately of the value stated in the Balancesheel if realised in the ordinary course of business, loans and advances are subject to confirmation from concerned parties.

5. The Company has been advised that as there is no tax effect of timing difference based on estimated computation for reasonable period, there is no provision for deferred tax, in terms of Accounting Standard (AS 22) on "Accounting for Taxes on Income" issued by Institute of Chartered Accountants of India.

6. As of 31st March 2009 the company had no outstanding dues to small -scale Industrial Undertakings

7. Accounting Standard (AS-18) "Related parry Disclosure" Name of related parties and description of Relationship

1. Subsidiaries NIL

2. Associates NIL

3. Key Managerial Personal Shri Harivallabh Mundhra

Shri Shreevallabh Mundhra

4. Relatives of key Mangement Smt. Kamladevi Mundhra (Mother of Directors) Personnel Smt. Kiran Mundhra (Wife of Director)

Shri Brijnandan Mundhra (Son of Director)

Miss Nupur Mundhra (Daughter of Director)

Miss Supriya Mundhra (Daughter of Director)

Sunaina Mundhra (Daughter of Director)

Yashonandnan Mundhra (Son of Director)

8. Enterprise under significant influence of key management personal or their relatives.

Name of key managerial Name of

personnel & Relatives Enterprises Nature of Relatives

Harivallabh Mundhra Chairmai Shee N.M of Bombay Directors HUF is Partner in Firm and Directors of Voltaire Leasing & Finance Ltd.

Nandan Holdings Pvt.Ltd. Brother Shreevallbh Mundhra and self are Director

Asian Engg. Corporation Director is partner in firm

Creative Lights Pvt. Ltd Brother Shreevallbh & Self are Director in Co.

Shreevallabh Mundhra Director Puja Electricals Pvt. Ltd. Director in co.

Voltaire Leasing & Finance Ltd. Shree N M Electr -icals Ltd Brother Shreevallbh & Self are Director in Co.

9. Disclosures of Transaction between the group and related parties and status of outstanding Balan. as at 31st March 2009 (Fig.In Braket are of Previousv Year)

Name of Related Relationship Nature of Amount D/S Balance Parties Transaction as on B/S date

Shree N M Electr icals Ltd Directors HUF Sales of Cable 7279472.00 10980971 is partner Wire Dr.Bal. in Firm (7607817) (11395160)

Dr.Bal.

 
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