Mar 31, 2015
Note: 1. Contingent Liabilities and Commitments
i) Counter Guarantees given for the Bank Guarantees for Rs. 13,875
thousand (margin by way of Bank fixed deposits of Rs. 7203.98 thousand
given) issued by the bankers of the Company in favour of the Clearing
Corporation/Clearing Member/Stock Exchanges.
ii) In consideration with concept of prudence, no contingent assets are
recognized.
Note: 2. Securities received from clients as Collaterals for margins
are held by the Company in its own name in fiduciary Capacity. A part
of these securities are pledged with the clearing Member for Futures &
Options segments. Securities which are not registered in the name of
the Company are held by the Company with valid transfer documents.
Note: 3. Bank fixed deposit of Rs. 50.00 thousand and shares worth Rs.
73.17 thousand as on 31st March 2015 are given to M.P. Stock Exchange
towards Base Minimum Capital. Shares worth Rs. 5,118.03 thousands were
lying with Clearing Member towards margins.
Note: 4. In the opinion of the Board of Directors, the current assets,
loans and advances are of the value as stated, if realised in the
ordinary course of the business. The aggregate market value of
inventory though considered at cost as per the practice followed since
inception, was higher than the value stated as at the date of balance
sheet. The Book Debts of Rs. 4751.61 thousand (P.Y. Rs. 2515.23 thousand)
are outstanding for the period exceeding six months but, considered
good by the Management and hence, not provided for.
Note: 5. Some of the balances of Sundry Debtors, Creditors and Loans
and Advances are subject to confirmation and reconciliation, if any.
Note: 6.
Information about foreign currency earnings and outgo:-
CIF value of imports, Expenditure & Earning in foreign exchange: -
Consultancy Fees Income: Rs. NIL (P.Y. Rs. 1040.14) thousand. Foreign
Travel Expenses: Rs. 242.35 (P.Y Rs. 525.46) thousand.
Note: 7. previous year's figures have been
re-grouped/re-classified/re-arranged to correspond with the current
year's classification/disclosure.
Mar 31, 2014
1.1 Face Value of Shares
All the equity shares are of same class with a face value of Rs. 10 per
share. Company has not issued any shares during the year under
consideration.
1.2 Rights, Preferences and Restrictions attached to Shares :
Equity Shares: The company has only one class of equity shares having a
par value of Rs. 10 per share. Each shareholder is eligible for one vote
per share held.
- Secured overdraft (OD-EQM) from Bank of India is secured by equitable
mortgage of office premises owned by the company and equitable mortgage
of a plot of land owned by Ajcon Infra Projects Pvt. Ltd., an associate
company and personal guarantee of the Managing Director of the Company
- Secured Loans (OD-Shares) from Bank of India is payable on demand and
is secured by pledge of shares with 50% margin.
- Payment of principal and interest thereon is in line with the
stipulated terms of the loan.
Note: The disclosure under Section 22 of Micro, Small and Medium
Enterprises Development Act, 2006 is not applicable to our company as
we are neither a trading nor a manufacturing company. Also, due to
absence of information from the creditors regarding their registration
under Micro, Small and Medium Enterprises Development Act, 2006, no
specific disclosure is possible.
Note: 2
Contingent Liabilities and Commitments
i) Counter Guarantees given for the Bank Guarantees for Rs. 12,375
thousand (margin by way of Bank fixed deposits of Rs. 7174.48 thousand
given) issued by the bankers of the Company in favour of the Clearing
Corporation/Clearing Member/Stock Exchanges.
ii) In consideration with concept of prudence, no contingent assets are
recognized.
Note: 3
Securities received from clients as Collaterals for margins are held by
the Company in its own name in fiduciary Capacity. A part of these
securities are pledged with the clearing Member for Futures & Options
segments. Securities which are not registered in the name of the
Company are held by the Company with valid transfer documents.
Note: 4
Bank fixed deposit of Rs. 50.00 thousand and shares worth Rs. 92.89
thousand as on 31.03.2014 are given to M.P. Stock Exchange towards
Base Minimum Capital. Shares are also pledged against the secured Loans
from Bank of India (OD against Shares).
Note: 5
In the opinion of the Board of Directors, the current assets, loans and
advances are of the value as stated, if realised in the ordinary course
of the business. The aggregate market value of inventory though
considered at cost as per the practice followed since inception, was
higher than the value stated as at the date of balance sheet. The Book
Debts of Rs. 2,515.23 thousand (P.Y. Rs. 2,260.25 thousand) are outstanding
for the period exceeding six months but, considered good by the
Management and hence not provided for.
Note: 6
Some of the balances of Sundry Debtors, Creditors and Loans and
Advances are subject to confirmation and reconciliation, if any.
Note: 7
Information pursuant to the provisions of part II of Revised Schedule
VI of the Companies Act, 1956. (To the extent applicable and as
certified by the Management)
a) CIF value of imports, Expenditure & Earning in foreign exchange: -
Consultancy Fees Income: Rs. 1,040.14 (P.Y. Rs. Nil) thousand. Foreign
Travel Expenses: Rs. 525.46 (P.Y Rs. 343.47) thousand Connectivity and
Communication Expenses: Rs. 1,107.97 (P.Y. Rs. 1,469.32) thousand
b) Break up of Imported & Indigenous materials and components concerned
 Foreign Travel Expenses: Nil (P.Y. Nil) Connectivity and
Communication Expenses: Nil (P.Y. Nil)
Note: 8 previous year''s figures have been re-grouped/re-classified to
correspond with the current year''s classification/disclosure.
Mar 31, 2013
Note : 1 Contingent Liabilities and Commitments
i) Counter Guarantees given for the Bank Guarantees for Rs. 13,875
thousand (margin by way of Bank fixed deposits of Rs. 7,156.57 thousand
given) issued by the bankers of the Company in favour of the Clearing
Corporation/Clearing Member/Stock Exchanges.
ii) In consideration with concept of prudence, no contingent assets are
recognized.
Note : 2 Securities received from clients as Collaterals for margins
are held by the Company in its own name in fiduciary Capacity. A part
of these securities are pledged with the clearing Member for Futures &
Options segments. Securities which are not registered in the name of
the Company are held by the Company with valid transfer documents.
Note : 3 Bank fixed deposit of Rs. 50.00 thousand and shares worth Rs.
68.22 thousand are given to M.P. Stock Exchange towards Base Minimum
Capital. Shares are also pledged against the secured Loans from Bank of
India (OD against Shares).
Note : 4 In the opinion of the Board of Directors, the current assets,
loans and advances are of the value as stated, if realised in the
ordinary course of the business. The aggregate market value of
inventory though considered at cost as per the practice followed since
inception, was higher than the value stated as at the date of balance
sheet. The Book Debts of Rs.2,260.25 thousand (Rs.2,517.87 thousand) are
outstanding for the period exceeding six months but, considered good by
the Management and hence not provided for.
Note : 5 Some of the balances of Sundry Debtors, Creditors and Loans
and Advances are subject to confirmation and reconciliation, if any.
Note : 6 Information pursuant to the provisions of part II of Revised
Schedule VI of the Companies Act, 1956. (To the extent applicable and
as certified by the Management)
a) CIF value of imports, Expenditure & Earning in foreign exchange: -
Foreign Travel Expenses : Rs. 343.47 (P.Y Rs. 17.32) thousand
Connectivity and Communication Expenses : Rs. 1469.32, (P.Y. Nil)
thousand
b) Break up of Imported & Indigenous materials and components concerned
 Foreign Travel Expenses : Nil (P.Y. Nil)
Connectivity and Communication Expenses : Nil (P.Y. Nil)
Note :7 Previous year''s figures have been regrouped/reclassified to
correspond with the current year''s classification/disclosure.
Mar 31, 2012
- Secured Overdraft (OD-EQM) from Bank of India is secured by
equitable mortgage of office premises belonging to the Company,
equitable mortgage of a piece of land belonging to Ajcon Infra Projects
Pvt. Ltd. an associate Company and personal guarantee of Managing
Director.
- Secured loans (OD-shares) from Bank of India payable on demand is
secured by pledge of shares with 50% margin.
Footnote:
During the year the Company has sold at book value its ownership in the
M.P. Stock Exchange membership card to a 100% subsidiary Company.
However, the change of name is yet to be effected in the records of the
concerned Exchange.
1. Contingent Liabilities and Commitments
i) Counter Guarantees given for the Bank Guarantees for Rs 73.75 lacs
(less margin by way of Bank fixed deposits of Rs 38.04 lacs) issued by
the bankers of the Company in favour of the Clearing
Corporation/Clearing Member/Stock Exchanges.
ii) In consideration with concept of prudence, no contingent assets are
recognized.
2. Securities received from clients as Collaterals for margins are
held by the Company in its own name in fiduciary Capacity. A part of
these securities are pledged with the clearing Member for Futures &
Options segments. Securities which are not registered in the name of
the Company are held by the Company with valid transfer documents.
3. Bank fixed deposit of Rs 50,000/- and shares worth Rs 182,789/- are
given to M.P. Stock Exchange towards Base Minimum Capital. Shares are
also pledged against the secured Loans from Bank of India (OD against
Shares).
4. In the opinion of the Board of Directors, the current assets,
loans and advances are of the value as stated, if realised in the
ordinary course of the business. The aggregate market value of
inventory though considered at cost as per the practice followed since
inception, was higher than the value stated as at the date of balance
sheet. The Book Debts of Rs25.18 lacs (Rs27.76 lacs) are outstanding for
the period exceeding six months but, considered good by the Management
and hence not provided for.
5. Advances recoverable in cash or in kind or for value to be
received include Rs7.50 lacs (Rs9.00 lacs) due from the subsidiary
Companies (maximum debit balance during the year Rs9.00 lacs) and Rs4.49
(RsNil) from Associate Companies. (The maximum debit balance during the
year was Rs4.49 lacs)
6. Some of the balances of Sundry Debtors, Creditors and Loans and
Advances are subject to confirmation and reconciliation, if any.
7. During the year, the Company has brought back in the books a
liability of Rs25.00 lacs and corresponding book debt of Rs25.00 lacs,
which were written off/ adjusted against each other in the year
2009-10. This was necessitated due to revival of an old legal case.
While the book debt is written off as bad debt, the said liability is
paid off subsequent to the date of Balance Sheet in full & final
settlement of the dues in terms of Minutes of Order dated 30/04/2012
passed by the Hon'able Bombay High Court.
8. Information pursuant to the provisions of part II of Revised
Schedule VI of the Companies Act, 1956. (To the extent applicable and
as certified by the Management)
a) CIF value of imports, Expenditure & Earning in foreign exchange: -
Traveling Expenses incurred of Rs 0.17 lacs.
b) Break up of Imported & Indigenous materials and components concerned
- N.A
9. Till the year ended 31st March, 2011, the Company was using
pre-revised Schedule VI of the Companies Act, 1956 for preparation and
presentation of its financial statements. The Revised Schedule VI has
become effective from April 1, 2011 for the preparation of financial
statements. This has significantly impacted the disclosure and
presentation made in the financial statements. Previous year's figures
have accordingly been regrouped/reclassified to correspond with the
current year's classification/disclosure.
Mar 31, 2011
1. Provisions, Contingent Liabilities and Contingent Assets.
A provision is recognized when an enterprise has a present obligation
as a result of past event and it is probable that an outflow of
resources will be required to settle the obligation, in respect of
which a reliable estimate can be made. Provisions are determined
based on best management estimate required to settle the obligation
at the balance sheet date. These are reviewed at each balance sheet
date and adjusted to reflect the current best management estimates.
Contingent Liabilities includes:
i) Counter Guarantees given for the Bank Guarantees for Rs. 163.75 lacs
(less margin deposit of Rs. 81.88 lacs) issued by the bankers of the
Company in favour of the Clearing Corporation/Clearing Member/Stock
Exchanges.
ii) In consideration with concept of prudence, no contingent as
sets are recognized.
2. Secured Loans/Overdrafts
a. Secured overdraft (OD-EQM) from Bank of India is secured by
equitable mortgage of office premises belonging to the Company,
equitable mortgage of a piece of land belonging to Ajcon Infra Projects
Pvt. Ltd. an associate Company and personal guarantee of Managing
Director (O/s as on 31.03.2011 is Rs.377.98 lacs).
b. Secured Over draft (OD-Shares) from Bank of India is secured by
pledge of shares with 50% margin (O/s as on 31.03.2011 is
Rs.120.05.lacs).
c. The charge of said bank is further extended to the said office
premises of the Company on the total Fund based & Non fund based limits
aggregating to Rs 1195.00 1acs.
d. Vehicle loans are secured by way of the hypothecation of Motorcars.
3. Impairment of Assets.
Impairment of Assets, if any, is recognized in accordance with AS-28.
4. Securities received from clients as Collaterals for margins are
held by the Company in its own name in fiduciary Capacity. A part of
these securities are pledged with the clearing Member for Futures &
Options segments and also with the bank to secure cash margins on
behalf of clients. Securities which are not registered in the name of
the Company are held by the Company with valid transfer documents.
5. Bank fixed deposit of Rs. 50,000/- and shares worth Rs.177,370/-
are given to M.P. Stock Exchange towards part of base minimum capital
6. In the opinion of the Board of Directors, the current assets, loans
and advances are of the value as stated, if realised in the ordinary
course of the business. The aggregate market value of inventory though
considered at cost as per the practice followed since inception, was
higher than the value stated as at the date of balance sheet. The Book
Debts of Rs. 27.76 lacs (Rs. 25.51 lacs) are outstanding for the period
exceeding six months but considered good by the management and hence
not provided for.
7. Advances recoverable in cash or in kind or for value to be received
include Rs.9.001acs (Rs.91.031acs) due from the subsidiary Company
(maximum debit balance during the year 91.03 lacs) and Rs. Nil (Rs.
15.00 lacs) from Associate Company. (The maximum debit balance during
the year was Rs.15.00 lacs)
8. Some of the balances of Sundry Debtors, Creditors and Loans and
Advances are subject to confirmation and reconciliation, if any.
9. Related party Disclosures:
Disclosure in accordance with Accounting Standards-18-Related party
transactions during the year
RELATIONSSHIP(DURING RELATED PARTY
YEAR>
A. Related party where
M/s Ajcon commodity Brokers Limited
controls exists:
Subsidiary company
B. related parties where
significant influence
exists:
Associated Enterprise M/s Ajcon IT.com Ltd
M/s Ajcon Communication Pvt.Ltd
M/s A.Ajmera & Associates.
M/s Ajcon Infra Projects Pvt.Ltd
M/s Ajcon Consultants Pvt.Ltd
C. Key Management Personel:
Chairman and Managing Mr. Ashok Kumar Ajmera
Director
Executive Director Mr. Ankit Ajmera
Executive Director Mr. Anuj Ajmera
D. Other Related Parties Mrs. Pragati Ajmera
Mrs. Pallavi Ajmera
Mrs. Shikha Ajmera
Mrs. Ajit Ajmera
Mrs. Ajay AJmera
10. Information pursuant to the provisions of paragraphs 3,4C and 4D
of part II of Schedule VI of the Companies Act, 1956. (To the extent
applicable and as certified by the Management)
a) Quantitative Details :Shares and Securities
The Company trades in Equity shares, which involves continuous
purchases and sales. Such trades are settled with actual delivery of
the shares or without the delivery of the shares. Considering the
volume of the transactions and variety of scripts, traded at various
prices, it is not practical and meaningful to compile the quantitative
details of the shares and securities. Hence, the quantitative details
are not furnished. There were no Derivative contracts outstanding as at
the end of the year.
b) CIF value of imports, Expenditure & Earning in foreign exchange:
Professionals received Rs. 299.86 lacs.
c) Break up of Imported & Indigenous materials and components
concerned: N. A
d) Previous year's figures are mentioned in bracket.
11. Previous year's figures are regrouped, reclassified or rearranged/
recast wherever necessary in order to make them comparable with the
current year's figures.
Mar 31, 2010
1. Provisions, Contingent Liabilities and Contingent Assets.
A provision is recognized when an enterprise has a present obligation
as a result of past event and it is probable that an outflow of
resources will be required to settle the obligation, in respect of
which a reliable estimate can be made. Provisions are determined based
on best management estimate required to settle the obligation at the
balance sheet date. These are reviewed at each balance sheet date and
adjusted to reflect the current best management estimates.
Contingent Liabilities includes:
(i) Counter Guarantees given for the Bank Guarantees for Rs. 45.00 lacs
(less margin deposit of Rs. 23.15 lacs) issued by the bankers of the
Company in favour of the Clearing Corporation / Clearing Member.
(ii) In consideration with concept of prudence, no contingent assets
are recognized.
2. Secured Loans/ Overdrafts
(i) Secured overdraft (OD-EQM) from Bank of India is secured by
equitable mortgage of office premises belonging to the Company,
equitable mortgage of a piece of land belonging to Ajcon Infra Projects
Pvt. Ltd. an associate Company and personal guarantee of Managing
Director (O/s as on 31.03.2010 is Rs.348.88 lacs).
(ii) Secured Overdraft (OD-Shares) from Bank of India is secured by
pledge of shares (O/s as on 31.03.2010 is Rs.129.20 lacs).
(iii) The charge of said bank is further extended to the said office
premises of the Company on the total Fund based & Non fund based limits
of Rs.875.00 lacs
(iv) Vehicle loans are secured by way of the hypothecation of Motor
cars.
3. Impairment of Assets.
Impairment of Assets, if any, is recognized in accordance with AS-28.
4. Securities received from clients as Collaterals for margins are
held by the Company in its own name in fiduciary Capacity. A part of
these securities are pledged with the clearing Member for Futures &
Options segments and also with the bank to secure cash margins on
behalf of clients. Securities which are not registered in the name of
the Company are held by the Company with valid transfer documents.
5. Share Warrants:
675,000 Share warrants issued at a price of Rs. 85/- per warrant were
cancelled during the year as the Warrant holders did not opt for its
conversion. The advance amount of Rs.5,737,500/- received on the said
warrants was forfeited and transferred to General Reserve Account of
the Company.
6. During the year the Company has adjusted Inter Corporate deposit of
Rs. 24.00 lacs against the Book Debts Receivable from the same party
without any confirmation as the matter is under dispute with said
party. No financial liability is expected on the said transaction.
7. In the opinion of the Board of Directors, the current assets, loans
and advances are of the value as stated, if realised in the ordinary
course of the business, except to the extent of the erosion in the
value of stock which is undeterminable, due to non availability of
market quotations in some cases. The Book Debts of Rs. 25.51 lacs (Rs.
37.46 lacs) are outstanding for the period exceeding six months but
considered good by the management and hence not provided for.
8. Advances recoverable in cash or in kind or for value to be
received include Rs.91.03 lacs (Rs. 77.79 lacs) due from the subsidiary
Company (maximum debit balance during the year 91.03 lacs) and Rs.15.00
lacs (Rs. 18.47 lacs) from Associate Companies. (The maximum debit
balance during the year was Rs.18.47 lacs)
9. Sundry Debtors, Creditors and Loans and Advances are subject to
confirmation and reconciliation, if any.
10. Statement pursuant to Section 212 of the Companies Act, 1956 is
appended hereto.
11. Information pursuant to the provisions of paragraphs 3, 4C and 4D
of part II of Schedule VI of the Companies Act, 1956. (To the extent
applicable and as certified by the Management)
a) Quantitative Details: Shares and Securities
The Company trades in Equity shares, which involves continuous
purchases and sales. Such trades are settled with actual delivery of
the shares or without the delivery of the shares. Considering the
volume of the transactions and variety of scripts, traded at various
prices, it is not practical and meaningful to compile the quantitative
details of the shares and securities. Hence, the quantitative details
are not furnished. There were no Derivative contracts outstanding as at
the end of the year.
b) CIF value of imports, Expenditure & Earning in foreign exchange: -
Foreign Exchange incurred for foreign travel à Rs. NIL (Pre. Year - Rs.
23,200/-)
c) Break up of Imported & Indigenous materials and components concerned
- N.A
d) Previous years figures are mentioned in bracket.
12. Previous years figures are regrouped, reclassified or
rearranged/recast wherever necessary in order to make them comparable
with the current years figures.
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