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Notes to Accounts of Wallfort Financial Services Ltd.

Mar 31, 2015

1. Deferred Tax

For the current year, a sum of Rs. 43,56,091/-(Previous year- Rs. 32,36,472/-) has been recognized as a deferred tax in the Profit & Loss Account and the same has been debited to the Deferred Tax Asset a/c in the Balance Sheet.

As on March 31, 2015, deferred tax on account of timing difference on depreciation of fixed assets and provision for gratuity was Rs. 3,79,96,897/- (Previous year - Asset Rs. 3,36,40,805/-).

2. As of March 31,2015, the Company had no outstanding dues to small-scale industrial undertakings (Previous Year Rs. Nil).

3. The company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to amounts unpaid as at the yearend together with interest paid/payable under this Act have not been given.

4. In the opinion of the Board, Current Assets, Loans & advances have the value on realization in the ordinary course of business at least equal to the amount at which they are stated.

5. The company pledges Investments towards margin requirement for trading in equity / derivatives.

6. Bank Overdraft represents Credit facility for Pay in, pay out and margin requirements

7. The National Stock Exchange and Bombay Stock Exchange have a lien on Fixed Deposits which have been kept for Margin and Base Capital Requirements.

8. Segment Reporting

The company is engaged in single segment and there are no separate reportable segments as defined inAS-17.

9. The figures have been rounded off to the nearest rupee.

10. The previous year's figures have been recast / restated, wherever necessary, to conform to the current year's classification.


Mar 31, 2014

1. Deferred Tax

For the current year, a sum of Rs. 32,36,472/- (Previous year - Rs. 1,84,54,008/- has been recognized as a deferred tax in the Profit & Loss Account and the same has been debited to the Deferred Tax Asset a/c in the Balance Sheet.

As on March 31, 2014, deferred tax on account of timing difference on depreciation of fixed assets and provision for gratuity was Rs. 3,36,40,805/- (Previous year - Asset Rs. 3,04,04,333/-).

2. As of March 31, 2014, the Company had no outstanding dues to small-scale industrial undertakings (Previous Year Rs. Nil).

3. The company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to amounts unpaid as at the year end together with interest paid/payable under this Act have not been given.

4. In the opinion of the Board, Current Assets, Loans & advances have the value on realization in the ordinary course of business at least equal to the amount at which they are stated.

5. The company pledges Investments towards margin requirement for trading in equity/ derivatives.

6. Bank Overdraft represents Credit facility for Pay in, pay out and margin requirements.

7. The National Stock Exchange and Bombay Stock Exchange have a lien on Fixed Deposits which have been kept for Margin and Base Capital Requirements.

8. Expenditure in foreign currency

(a) Current Year NIL (Previous year - NIL)

9. Employee Benefits

Defined Benefit Plans as per Actuarial Valuation as at March 31,2014.

10. Related party disclosure has been made as per Accounting Standard 18 issued by the Institute of Chartered Accountants of India, as under:

Related Party Relationship

Associate Enterprises

Bajrang Marbles Pvt.Ltd. Wallfort Investment And Trading Company Pvt Ltd.

Binodini Vyapaar Pvt.Ltd. Wallfort Properties Pvt. Ltd.

Kanockta Dealcomm Pvt.Ltd. Wallfort Share & Stock brokers Pvt. Ltd.

Mohur Investments Consultancy Pvt.Ltd. Wallfort Steel And Power Private Ltd.

Suditi Developers Pvt. Ltd. Wallfort Developers Pvt. Ltd.

Key Management personnel

Anil Jain Ashok Bharadia Deepak Lahoti

Manoj Bharadia Yash Golechha

Relatives of key management personnel

Anjali Jain

Radhakishan Bharadia Annapurna Bharadia Raj Golechha Damoderi Bharadia Ramkumar Bharadia Daxa Golechha Rashmi Lahoti Deepa Bharadia Shobha Golechha Kamladevi Bharadia Sangeeta Bharadia Kishnidevi Bharadia Shrivallabh Bharadia Manidevi Bharadia Shyamsunder Bharadia Megraj Golechha Taradevi Jain Pradeep Jain Puspha P. Jain Vandana Bharadia Priya Jain Vijay Bharadia Pankaj Lahoti

12. Contingent liabilities

a. Unexpired Bank Guarantees - NIL

13. Earnings per share

Earnings per Share has been calculated as per Accounting Standard 20 issued by the Institute of Chartered Accountants of India, as under:

14. Segment Reporting

The company is engaged in single segment and there are no separate reportable segments as defined in AS - 17.

16. The figures have been rounded off to the nearest rupee.

17. The previous year''s figures have been recast / restated, wherever necessary, to conform to the c urrent year''s classification.


Mar 31, 2013

1. Deferred Tax

For the current year, a sum of Rs. 1,84,54,008/- (Previous year - Rs. 1,30,88,128/-) has been recognized as a deferred tax in the Profit & Loss Account and the same has been debited to the Deferred Tax Asset a/c in the Balance Sheet.

As on March 31, 2013, deferred tax on account of timing difference on depreciation of fixed assets and provision for gratuity was Rs. 3,04,04,333/- (Previous year - Asset Rs. 1,19,50,325/-).

2. As of March 31, 2013, the Company had no outstanding dues to small-scale industrial undertakings (Previous Year Rs. Nil).

3. The company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to amounts unpaid as at the year end together with interest paid/payable under this Act have not been given.

4. In the opinion of the Board, Current Assets, Loans & advances have the value on realization in the ordinary course of business at least equal to the amount at which they are stated.

5. The company pledges Investments towards margin requirement for trading in equity/ derivatives.

6. Bank Overdraft represents Credit facility for Pay in, pay out and margin requirements.

7. The National Stock Exchange and Bombay Stock Exchange have a lien on Fixed Deposits which have been kept for Margin and Base Capital Requirements.

8. Expenditure in foreign currency

(a) Current Year NIL (Previous year - Data Subscription - Rs.67,499/-)

9. Related party disclosure has been made as per Accounting Standard 18 issued by the Institute of Chartered Accountants of India, asunder:

Related Party Relationship

Associate Enterprises

Binodini Vyapar Pvt. Ltd. Mohur Invest. & Consul. Pvt. Ltd.

Knockta Dealcomm Pvt. Ltd. Vijaydeep Properties Pvt. Ltd.

Wallfort Properties Pvt. Ltd. Wallfort Investments & Trading Co. Ltd.

Wallfort Exim Pvt. Ltd. Wallfort Share & Stock brokers Pvt. Ltd. Wallfort Commodities Pvt. Ltd.

Key Management personnel

Anil Jain Manoj Bharadia

Ashok Bharadia Yash Golechha

Deepak Lahoti

Relatives of key management personnel

Anjali Jain

Radhakishan Bharadia Annapurna Bharadia Raj Golechha Damoderi Bharadia Ramkumar Bharadia Daxa Golechha Rashmi Lahoti Deepa Bharadia Shobha Golechha Kamladevi Bharadia Sangeeta Bharadia Kishnidevi Bharadia Shrivallabh Bharadia Manidevi Bharadia Shyamsunder Bharadia Megraj Golechha Taradevi Jain Pradeep Jain Puspha P. Jain Vandana Bharadia Priya Jain Vijay Bharadia Pankaj Lahoti

10. Segment Reporting

The company is engaged in single segment and there are no separate reportable segments as defined in AS-17.

11. The figures have been rounded off to the nearest rupee.

12. The previous year''s figures have been recast / restated, wherever necessary, to conform to the current year''s classification.


Mar 31, 2012

1. Deferred Tax

For the current year, a sum of Rs. 1,30,88,128/- (Previous year - Rs. 15,46,923/-) has been recognized as a deferred tax in the Profit & Loss Account and the same has been debited to the Deferred Tax Asset a/c in the Balance Sheet.

As on March 31,2012, deferred tax on account of timing difference on depreciation of fixed assets and provision for gratuity was Rs. 1,19,50,325/-(Previous year-Liability Rs. 11,37,802/-).

2. As of March 31,2012, the Company had no outstanding dues to smal 1-scale industrial undertakings (Previous Year Rs. Nil).

3. The company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to amounts unpaid as at the year end together with interest paid/payable under this Act have not been given.

4. In the opinion of the Board, Current Assets, Loans & advances have the value on realization in the ordinary course of business at least equal to the amount at which they are stated.

5. The company pledges Investments towards margin requirement for trading in equity /derivatives.

6. Bank Overdraft represents Credit facility for Pay in, pay out and margin requirements

7. The National Stock Exchange and Bombay Stock Exchange have a lien on Fixed Deposits which have been kept for Margin and Base Capital Requirements.

8. Expenditure in foreign currency

(a) Data Subscription- Rs.67,499/-(Previous year-2,32,763/-)

10. Related party disclosure has been made as per Accounting Standard 18 issued by the Institute of Chartered Accountants of India, as under:

Related Party Relationship

Associate Enterprises

Binodini Vyapar Pvt. Ltd. Mohur Invest. & Consul. Pvt. Ltd.

Knockta Dealcomm Pvt. Ltd. Vijaydeep Properties Pvt. Ltd.

Wallfort Properties Pvt. Ltd. Wallfort Investments & Trading Co. Ltd.

Wallfort Exim Pvt. Ltd. Wallfort Share & Stock brokers Pvt. Ltd.

Wallfort Commodities Pvt. Ltd.

Kev Management personnel

Anil Jain Manoj Bharadia

Ashok Bharadia Yash Golechha Deepak Lahoti

Relatives of key management personnel

Anjali Jain Shyamsunder Bharadia

Radhakishan Bharadia Megraj Golechha

Annapurna Bharadia Taradevi Jain

Raj Golechha Pradeep Jain

Damoderi Bharadia Puspha P. Jain

Ramkumar Bharadia Vandana Bharadia

Relatives of kev management personnel

Daxa Golechha Kishnidevi Bharadia

Rashmi Lahoti Shrivallabh Bharadia

Deepa Bharadia Manidevi Bharadia

Shobha Golechha Priya Jain

Kamladevi Bharadia Vijay Bharadia

Sangeeta Bharadia Pankaj Lahoti

Note : 1) Related party relationships are as identified by the company and relied upon by the Auditors

2) Transaction carried out with related parties referred to above are in ordinary course of business.

9. Contingent liabilities

a. Unexpired Bank Guarantees - 17.5 Crores against Fixed Deposits 8 crores approx

10. The figures have been rounded off to the nearest rupee.

11. The previous year's figures have been recast / restated, wherever necessary, to conform to the current year's classification.


Mar 31, 2010

1. Deferred Tax

For the current year, a sum of Rs.20, 61,176/- (Previous year - Rs. 116476/-) has been recognized as a deferred tax in the Profit & Loss Account and the same has been debited to die Deferred Tax Asset a/c in the Balance Sheet.

As on March 31,2010, deferred tax asset on account of timing difference on depreciation of fixed assets and provision for gratuity was Rs.4,09,121/- (Previous year-Liability Rs. 16,52,055/-).

2. As of March 31, 2010, the Company had no outstanding dues to small-scale industrial undertakings (Previous Year Rs. Nil).

3. The company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to amounts unpaid as at the year end together with interest paid/payable under this Act have not been given.

4. In the opinion of the Board, Current Assets, Loans & advances have the value on realization in the ordinary course of business at least equal to the amount at which mey are stated.

5. The company pledges Investments towards margin requirement for trading in equity / derivatives.

6. Bank Overdraft represents Credit facility for Pay in, pay out and margin requirements

7. The National Stock Exchange and Bombay Stock Exchange have a lien on Fixed Deposits which have been kept for Margin and Base Capital Requirements.

8. Expenditure in foreign currency

(a) Traveling - Rs. 96, 700/- (Previous year - NIL)

(b) Data Subscription - Rs.4, 55,438/- (Previous year - NIL)

9. Related party disclosure has been made as per Accounting Standard 18 issued by the Institute of Chartered Accountants of India, as under:

Related Party Relationship

Associate Enterprises

Binodini Vyapar Pvt. Ltd. Vijaydeep Properties Pvt. Ltd.

Knockta Dealcomm Pvt. Ltd. Wallfort Investments & Trading Co. Ltd.

Wallfort Properties Pvt. Ltd. Wallfort Share & Stock brokers Pvt. Ltd.

Wallfort Exim Pvt. Ltd.

Wallfort Commodities Pvt. Ltd. Mohur Invest. & consultancy Pvt. Ltd.

Key Management personnel

Anil Jain Manoj Bharadia

Ashok Bharadia Yash Golechha

Deepak Lahoti

Relatives of key management personnel

Anjali Jain

Radhakishan Bharadia

Annapuma Bharadia

Raj Golechha

Damoderi Bharadia

Ramkumar Bharadia

Daxa Golechha

Rashmi Lahoti

Deepa Bharadia

Shobha Golechha

Kamladevi Bharadia

Sangeeta Bharadia

Kishnidevi Bharadia

Shrivallabh Bharadia

Manidevi Bharadia

Shyamsunder Bharadia

Megraj Golechha

Taradevi Jain

Pradeep Jain

Vandana Bharadia

Priya Jain

Vijay Bharadia

Pankaj Lahoti

Note : 1) Related party relationships are as identified by the company and relied upon by the Auditors

2) Transaction carried out with related parties referred to above are in ordinary course of business.

10. Contingent liabilities

a. Unexpired Bank Guarantees - 23.26 Crores against Fixed Deposits 11.63 crores approx

11. Segment Reporting

The company is engaged in single segment and there are no separate reportable segments as defined in AS -17.

12. The figures have been rounded off to the nearest rupee.

13. The previous years figures have been recast / restated, wherever necessary, to conform to the current years classification.

 
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