Mar 31, 2014
(i) Basis of Preparation of Financial Statements
The financial statements are prepared and presented under the
historical cost convention on an accrual basis of accounting in
accordance with generally accepted accounting principles in India and
are to comply with the applicable accounting standards notified under
Section 211 (3C) of the Companies (Accounting Standards) Rules, 2006
and the relevant provisions of the Companies Act, 1956 read with the
general circular 15/2013 dated 13th September,2013 of the Ministry of
Corporate Affairs in respect of the Companies Act,2013. The accounting
policies have been consistently applied unless otherwise stated.
(ii) Use of Estimates:
The preparation of financial statements requires the management to make
estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent liabilities as at the date
of the financial statements and the reported amounts of incomes and
expenses during the reporting period. Difference between the actual
results and estimates are recognised in the period in which the results
are known or materialise.
(iii) Revenue Recognition
(a) Income from trading in shares and securities are accounted on
accrual basis (Value wise) under the head Sales and Income from share
Operation. It is management''s decision to classify shares and
securities trading as investments or trading operation.
(b) Interest income on loans is recognized on accrual basis.
(c) Revenue from windmill energy generation is accounted for on the
basis of the billing to Rajasthan Power Procurement Company as per the
Purchase of Power Agreement entered into with them.
(iv) Fixed Assets
Fixed assets are stated at Cost Less Depreciation on Written Down
method under Companies Act 1956. The costs of fixed assets not ready
for their intended use before balance sheet date are disclosed under
capital work- in-progress.
(v) Depreciation
Company has provided Depreciation as per written down value Method at
the rates and manner prescribed in Schedule XIV of the Companies Act,
1956.
(vi) Retirement Benefits
We have been informed by the Management that payment of Gratuity,
Provident Fund is not applicable to Company.
(vii) Borrowing Cost
Interest and other costs in connection with the borrowing of the funds
to the extent related/attributed to acquisition or construction of
qualifying assets are capitalised up to the date when such fixed assets
are ready for their intended use and all other borrowing costs are
charged to statement of Profit and Loss.
(viii) Provision for Taxation
Provision for Income tax for the current year is based on the estimated
taxable income for the period in accordance with the provisions of the
Income Tax Act, 1961.
Deferred Tax resulting from "timing difference between book and
taxable profit is accounted for using tax rates & tax laws that have
been enacted or substantively enacted as on the Balance Sheet date. The
deferred tax asset is recognized only to the extent that there is a
reasonable certainty that the future taxable profit will be available
against which the deferred tax assets can be realized.
(ix) Segment Reporting
The Company has identified its operations into two major Businesses:
Financial / Investment Activity and Wind Mill Energy Generation. The
Company has identified its major operations into single geographical
area that is within India.
(x) Contingent Liabilities:
Contingent Liabilities are disclosed by way of notes to the accounts
explaining the nature and quantum of such liabilities. Contingent
liabilities are disclosed in respect of possible obligations that arise
from past events but the existence is confirmed by the occurrence or
non-occurrence of one or more uncertain future events not wholly within
the control of the company.
Mar 31, 2013
(i) Basis of Preparation of Financial Statements
The financial statements are prepared and presented under the
historical cost convention on an accrual basis of accounting in
accordance with generally accepted accounting principles in India and
are to comply with the applicable accounting standards notified under
Section 211 (3C) of the Companies (Accounting Standards) Rules, 2006
and the relevant provisions of the Companies Act, 1956. The accounting
policies have been consistently applied unless otherwise stated.
(ii) Use of Estimates:
The preparation of financial statements requires the management to make
estimates and assumptions that affect the reported amounts of assets
and liabilities and disclosure of contingent liabilities as at the date
of the financial statements and the reported amounts of incomes and
expenses during the reporting period. Difference between the actual
results and estimates are recognised in the period in which the results
are known or materialise.
(iii) Revenue Recognition
(a) Income from trading in shares and securities are accounted on
accrual basis (Value wise) under the head Sales and Income from share
Operation. It is management''s decision to classify shares and
securities trading as investments or trading operation.
(b) Interest income on loans is recognized on accrual basis.
(c) Revenue from windmill energy generation is accounted for on the
basis of the billing to Rajasthan Power Procurement Company as per the
Purchase of Power Agreement entered into with them.
(iv) Fixed Assets
Fixed assets are stated at Cost Less Depreciation on Written Down
method under the Companies Act 1956.
The costs of fixed assets not ready for their intended use before
balance sheet date are disclosed under capital work-in-progress.
(v) Depreciation Company has provided Depreciation as per written down
value Method at the rates and manner prescribed in Schedule XIV of the
Companies Act, 1956.
(vi) Retirement Benefits We have been informed that payment of
Gratuity, Provident Fund is not applicable to Company.
(vii) Borrowing Cost Interest and other costs in connection with the
borrowing of the funds to the extent related/attributed to acquisition
or construction of qualifying assets are capitalised up to the date
when such fixed assets are ready for their intended use and all other
borrowing costs are charged to statement of Profit and Loss.
(viii)Provision for Taxation Provision for Income tax for the current
year is based on the estimated taxable income for the period in
accordance with the provisions of the Income Tax Act. 1961.
Deferred Tax resulting from "timing difference" between book and
taxable profit is accounted for using tax rates & tax laws that have
been enacted or substantively enacted as on the Balance Sheet date. The
deferred tax asset is recognized only to the extent that there is a
reasonable ertainty that the future taxable profit will be available
against which the deferred tax assets can be realized.
(ix) Segment Reporting
The Company has identified its operations into two major Businesses:
Financial / Investment Activity and Wind
Mill Energy Generation.The Company has identified its major operations
into single geographical area that is within India.
(x) Contingent Liabilities:
Contingent Liabilities are disclosed by way of notes to the accounts
explaining the nature and quantum of such liabilities.
Contingent liabilities are disclosed in respect of possible obligations
that arise from past events but the existence is confirmed by the
occurrence or non-occurrence of one or more uncertain future events not
wholly within the control of the company.
Mar 31, 2012
(i) Basis of Preparation of Financial Statements
The financial statements have been prepared and presented on an accrual
basis under the historical cost convention and in accordance with the
applicable accounting standards prescribed by the Companies (Accounting
Standards) Rules, 2006 and the relevant provisions of the Companies
Act, 1956. The accounting policies have been consistently applied
unless otherwise stated.
(ii) Use of Estimates:
The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and assumption that affects the reported amount of assets and
liabilities on the date of financial statements and reported amount of
revenues and expenses during the reporting period. Difference between
the actual results and estimates are recognized in the period in which
the results are known/materialized.
(iii) Revenue Recognition
(a) Income from trading in shares and securities are accounted on
accrual basis (Value wise) under the head Sales and Income from share
Operation. It is management's decision to classify shares and
securities trading as investments or trading operation.
(b) Interest income on loans is recognized on accrual basis.
(c) Revenue from windmill energy generation is accounted for on the
basis of the billing to Rajasthan Power Procurement Company as per the
Purchase of Power Agreement entered into with them.
(iv) Fixed Assets
Fixed assets are stated at Cost Less Depreciation on Written Down
method under Companies Act 1956. Incidental Expenditure directly
attributable to construction is accumulated as Capital Work in
Progress.
(v) Depreciation
Company has provided Depreciation as per written down value Method at
the rates and manner prescribed in
. Schedule XIV of the Companies Act, 1956.
(vi) Retirement Benefits
We have been informed that payment of Gratuity, Provident Fund is not
applicable to Company.
(vii) Borrowing Cost
Borrowing cost is recognized as expense in the period in which these
are incurred.
(viii) Provision for Taxation
Provision for Income tax for the current year is based on the estimated
taxable income for the period in accordance with the provisions of the
Income Tax Act, 1961.
The Deferred Tax resulting from timing difference between book and
taxable profit is accounted for using tax rates and tax laws that have
been enacted or substantively enacted as at the Balance Sheet date.
(ix) Segment Reporting
The Company has identified its operations into two major Businesses:
Financial / Investment Activity and Wind Mill Energy Generation.
The Company has identified its major operations into single
geographical area that is within India.
(x) Contingent Liabilities:
Contingent Liabilities are disclosed by way of notes to the accounts
explaining the nature and quantum of such , liabilities.
Contingent liabilities are disclosed in respect of possible obligations
that arise from past events but the existence is confirmed by the
occurrence or non-occurrence of one or more uncertain future events not
wholly within the control of the company.
Mar 31, 2010
(1) Basis of Preparation of Financial Statements
The Financial Statements are prepared and presented under the
historical cost convention on the accrual basis of accounting in
accordance with accounting principles generally accepted in India
("Indian GAAP") and are in compliance with Accounting Standard issued
by the Institute of Chartered Accountants of India ("ICAI") and the
provisions of Companies Act, 1956.
(2) Revenue Recognition
(i) Income from trading in shares and securities are accounted on
accrual basis (Value wise) under the head Sales and Income from share
Operation. It is managements decision to classify shares and
securities trading as investments or trading operation.
(ii) Interest income on loans is recognized on accrual basis.
(iii) Revenue from windmill energy generation is accounted for on the
basis of the billing to Rajasthan Power Procurement Company as per the
Purchase of Power Agreement entered into with them.
(3) Fixed Assets
Fixed assets are stated at Cost Less Depreciation on Written Down
method under Companies Act 1956. Incidental Expenditure directly
attributable to construction is accumulated as Capital Work in
Progress.
(4) Depreciation
Company has provided Depreciation as per written down value Method at
the rates and manner prescribed in Schedule XIV of the Companies Act,
1956.
(5) Retirement Benefits
We have been informed that payment of Gratuity, Provident Fund is not
applicable to Company.
(6) Borrowing Cost
Borrowing cost is recognised as expense in the period in which these
are incurred.
(7) Provision for Taxation
Provision for Income tax for the current year is based on the estimated
taxable income for the period in accordance with the provisions of the
Income Tax Act, 1961.
The Deferred Tax resulting from timing difference between book and
taxable profit is accounted for using tax rates and tax laws that have
been enacted or substantively enacted as at the Balance Sheet date.
(8) Segment Reporting
The Company has identified its operations into two major Businesses:
Financial / Investment Activity and Wind
Mill Energy Generation.
The Company has identified its major operations into single
geographical area that is within India.
(9) Contingent Liabilities:
Contingent Liabilities are disclosed by way of notes to the accounts
explaining the nature and quantum of such liabilities.
Contingent liabilities are disclosed in respect of possible obligations
that arise from past events but the existence is confirmed by the
occurrence or non-occurrence of one or more uncertain future events not
wholly within the control of the company.
Mar 31, 2009
(A) METHOD OF ACCOUNTING
Company maintain its accounts on accrual basis following the historical
cost convention in compliance with the Accounting Standards Specified
to be mandatory by Institute of Chartered Accountant of India and
Relevant Provision of the Companies Act, 1956.
(B) REVENUE RECOGNITION
(i) Income from trading in shares and securities are accounted on
accrual basis (Value wise) under the head Sales and Income from share
Operation It is managements decision to classify shares and securities
trading as investments or trading operation.
(ii) Interest income on loans is recognized on accrual basis.
(C) EXPENSES
It is Companys policy to account for all expenses on accrual basic
except certain expense of traditional nature
(D) FIXED ASSETS AND DEPRECIATION
Fixed assets are stated at cost less accumulated depreciation on
Written Down method under Companies Act 1956.
(E) RETIREMENT BENEFITS
We have been informed that payment of Gratuity, Provident Fund is not
applicable to Company.
(F) PROVISION FOR TAXATION
Provision for Income tax and fringe benefit tax for the current year is
based on the estimated taxable income for the period in accordance with
the provisions of the Income Tax Act, 1961.
The Deferred Tax resulting from timing difference between book &
taxable profit is accounted for using tax rates & tax laws that have
been enacted or substantively enacted as at the Balance Sheet date.