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Notes to Accounts of Kalyan Capitals Ltd.

Mar 31, 2018

1 Corporate Overview

Akashdeep Metal Industries Limited is a Limited Company domiciled in India and incorporated under the provisions of the companies act, 1956. The Company is a registered NBFC with RBI.

- Depreciation on fixed assets is provided on W.D.V. method at the rates specified in Companies Act, 2013 and made adjustments according to it.

- Depreciation on addition of fixed assets is provided on pro rata basis from the date, the assets is ready to use.

- Useful life of Furniture & Fixture is 15 years instead of 10 years as prescribed in part C of Schedule-II of the Companies Act, 2013.

- Useful life of Computer & Printer is 6 years instead of 3 years as prescribed in part C of Schedule-II of the Companies Act, 2013.

- Depreciation on ownership rights of resorts is charged as per useful life of the asset i.e. 99 years. Depreciation is charged for 23 years.

- Figures in bracket pertain to previous year.

Note 2: Defined benefit plans

The Company does not recognise its liability for ''Gratuity'' and ''Leave encashment'' on the basis as prescribed in AS-15 Employee Benefits. The company provides for the actual liability (if any) or recognises as expense when such Gratuity or Leave encashment is paid to the employee.

Note 3: Segment reporting

The disclosures on primary segment as required under Accounting Standard 17 on ''Segment Reporting'' has not been provided as the Company has only a single reportable segment and exclusively operates in the business of "sale/purchase of shares". Further, disclosures in the secondary segment i.e., geographical segment, has not been provided as the company operates only in India.

Being a Non banking finance company not accepting public deposits. Management of the company has confirmed the following:

1) The Board of Directors has passed a resolution for the non acceptance of any public deposit.

2) The company has complied with the prudential norms relating to income recognition, accounting standards, assets, classification, and provisioning for bad debts as applicable.

3) The Board has transferred an amount of Rs. 2,19,872/- for current year towards “Special Reserve Account “ and the same has been shown under the head Special Reserve Account under Note No. 4 of Reserve and Surplus, as per the requirement under section 45-IC of the Reserve Bank of India Act, 1934. i.e. 20% of Profit after Tax.

4) As per the prudential norms on Income Recognition, Asset Classification with reference to Master Circular No. DNBR (PD) CC.No.043/03.10.119/2015-16 dated July 1, 2015. The Board has transferred an amount of Rs. 55,466/- towards “Contingent provision against Standard Assets” i.e. 0.40% of standard assets.

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

All Accounting Standards and Guidance Notes issued by ICAI are applicable including for valuation of investments and other 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 (4) above.

In the opinion of the Board the value of Current assets, Loans & advances, if realized in the ordinary courses of business, shall not be less than the amount at which the same are stated in the Balance Sheet. Confirmation of balances have not been received from debtors, creditors, loans and advances given through request was sent to major parties and therefore balances are as per books of accounts only.

Note 4: Grouping and classification

Figures of the previous year have been rearranged wherever necessary to them comparable with the current year''s classification.


Mar 31, 2014

1. In the opinion of the management the current assets, loans and advances are approximately of the value stated if realized in the ordinary course of business. The provisions for all the known liabilities are adequate and not in excess of the amount considered reasonably necessary.

2. Previous year figures have been re-grouped or re-arranged wherever necessary.

3. Note 1 to 20 are annexed to and from an integral part of the Balance Sheet as at 31st March 2014 and Statement of Profit & Loss for the year ended as on that date.

Notes:

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

(2) All Accounting Standards and Guidance Notes issued by ICAI are applicable including for valuation of investments and other 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 (4) above.


Mar 31, 2013

1. In the opinion of the management the current assets, loans and advances are approximately of the value stated if realized in the ordinary course of business. The provisions for all the known liabilities are adequate and not in excess of the amount considered reasonably necessary.

2. Previous year figures have been re-grouped or re-arranged wherever necessary.


Mar 31, 2011

1. Related party disclosures as required by Accounting Standard-18 issued by the Institute of Chartered Accountants of India.

a) Parties where control exists

Mr. Surendra Kumar Jain along with his relatives.

b) Enterprises over which major shareholder or key management personnel along with his relatives exercises significant influence _

Asia Capital Limited

Deepak & Company

D.M. International Pvt. Ltd.

Transcend Electronics Pvt. Ltd.

Competent Electronics Pvt. Ltd.

Rose Electronics Pvt. Ltd.

Petal Electronics Pvt. Ltd.

Novelty Electricals Pvt. Ltd.

Sandal Auto Pvt. Ltd.

Posh Electronics Pvt. Ltd.

Shree Ganpati Educational Society (Regd.)

c) Key Management Personnel

Mr. Surendra Kumar Jain, Managing Director

Accounting policies & notes forming part of balance sheet as at 31st March 2011 Schedule "H"

d) Relatives of key Managerial personnel

Details of relatives of Mr. Surendra Kumar Jain

Mr. Deepak Kumar Jain Son

Mr. Manoj Kumar Jain Son

Mrs. Alka Jain Daughter

Mrs. Sangeeta Agarwal Daughter

Mr. Dinesh Kumar Jain Brother

Mr. Navneet Kumar Jain Brother

Mrs. Sulochna Jain Sister

Mrs. Sudha Jain Sister

2. Since the Company''s operations primarily comprise of investment and financing, as such there is no other reportable segment as specified by Accounting Standard-17 issued by Institute of Chartered Accountants of India.

3. The Company has not received any intimation from supplier regarding their status under Micro/Small & Medium Enterprises Development Act, 2006 and hence disclosure if any relating amount unpaid as at year end together with interest paid/payable as required under the Act have not been given.

4. Schedule "A" to "H" form as integral part of Balance Sheet, Profit and Loss Account and Cash Flow Statement.

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