Mar 31, 2019
b. Terms/rights attached to equity shares
The company has one class of equity shares having a par value of Rs. 5 per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
*Payment to key management personnel for Salaries and Incentive includes to Ashok Kumar Jain Rs. 20693907 (Previous Year Rs.17384029 and Anita Gandhi Rs. 3849600 (Previous Year Rs.3236800) and to relatives of key management personal includes Shruti Jain Rs.2400000 (Previous Year Rs.2361290).
# Rent paid to Ashok Kumar JainRs.1465000 (Previous Year Rs.1440000), Kiran Jain Rs.3490000 (Previous Year Rs.3465000), Ashok Kumar Jain HUF Rs.412500 (Previous Year Rs.412500), Arpit Jain Rs.412500 (Previous Year Rs.412500) and Shyam Developers Rs.252000 (Previous Year Rs.252000).
% Sitting fees paid to Sunil Kumar Jain Rs.60000 (Previous Year Rs.80000),Shailesh Kumath Rs. Nil (Previous Year Rs.20000), Paragbhai Shah Rs.60000 (Previous Year Rs.40000),Pavan Ved Rs.40000 (Previous Year Rs.80000),Ashish Maheshwari Rs.60000 (Previous Year Rs.60000) and Akhilesh Rathi Rs. 80000 (Previous Year Rs.80000).
A Rent Deposit given includes Ashok Kumar Jain Rs.350000 (Previous Year Rs.350000), Kiran Jain Rs.2037500 (Previous Year Rs.2037500), Ashok Kumar Jain HUF Rs.343750 (Previous Year Rs.343750),Arpit Jain Rs.343750 (Previous Year Rs.343750) and Shyam Developers Rs.13000000 (Previous Year Rs. 13000000).
$ Interest paid to Pavan KumarVed Rs.355492 (Previous Year Rs. Nil)
** S.N Gandhi & Co Rs. Nil (Previous Year Rs.300000)
Defined Benefit Plan
The gratuity paid by the company is a defined benefit plan. The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the financial obligation. The company does not have any policy for leave encashment.
1. Income in foreign currency Rs.1386596 (previous year Rs. Nil). Expenditure in foreign currency Rs. Nil (previous year Rs. Nil).
2. Contingent Liability & Capital Commitments
(i) Bank Guarantees of Rs. 15875000 (Previous Year Rs. 10000000) extended to ICCL Bombay Stock Exchange Limited under the mandatory rules for membership and Rs. 60000000(Previous Year Rs.63500000) towards additional margin.
(ii) Bank Guarantees of Rs.7500000(Previous Year Rs.7500000) extended to National Securities Clearing Corporation Limited under the mandatory rules for membership and Rs. 129800000(Previous Year Rs.99800000) towards additional margin.
(iii) Bank Guarantees of Rs. 1500000 (Previous Year Rs. 1500000) extended to Metropolitan Stock Exchange India Limited under the mandatory rules for membership .
(iv) Bank Guarantees of Rs.482500000 (Previous Year Rs.380100000) extended to Axis Bank Ltd ( Clearing Member of Company in NSE FNO segment) towards margin requirement.
(v) Corporate guarantee of Rs.250000000 (Previous Year Rs.400000000) given to banks on behalf of subsidiary M/s Arihant Futures and Commodities Limited.
(vi) Claims against the Company not acknowledged as debts Rs. Nil (Previous Year Rs. Nil).
(vii) Income Tax Demand for various years Rs. Nil (Rs.32,79,854)
3. Fixed Deposits
Fixed deposits with scheduled banks include Rs.70200000 (Previous Year Rs. 158400000) which is under the lien of National Securities Clearing Corporation Limited,Rs.55600055 (Previous Year Rs. Nil) which is under the lien of National Stock Exchange of India Limited, Rs.447800000 (Previous Year Rs.2583000000) which is under the lien of Axis Bank Ltd for NSEFNO segment, Rs. Nil (Previous Year Rs.500000) which is under the lien of Axis Bank Ltd for MSEIL currency derivative segment and Rs.2000000 (Previous Year Rs. Nil) which is under the lien of Pension Fund Regulatory and Development Authotriy.
4. Disclosures under The Micro, Small, & Medium Enterprises Development Act,2006
Under the Micro, Small and Medium Enterprises Development Act, 2006, certain disclosures are required to be made relating to Micro, Small and Medium Enterprises (SME). The Company is in the process of compiling relevant information from its suppliers about their coverage under the said act. Since the relevant information is not readily available, no disclosures have been made in the accounts. however, in view of the management, the amounts due to the suppliers are paid within the mutually agreed credit period and therefore, there will not be any interest that may be payable in accordance with the provisions of the Act.
5. Securities are normally held by the Company in its own name except securities pledged with exchange.
6. Securities received from clients as collateral for margins are held by the Company in its own name in a fiduciary capacity.
7. Segment Reporting
As per the definition of âBusiness Segmentâ and âGeographical Segmentâ contained in Accounting Standard 17 âSegment Reportingâ, the management is of the opinion that the Companyâs operation comprise of operating in Primary and Secondary market and incidental activities thereto, there is neither more than one reportable business segment nor more than one reportable geographical segment, and, therefore, segment information as per Accounting Standard 17 is not required to be disclosed.
8. Corporate Social Responsibility
The company has formed a CSR committee responsible to spend the required amount on CSR activities recognized by them and to monitor whether the same have been utilised for the intended purpose.
a) Gross amount required to be spent by the company during the year (Rs.)4035652
b) Amount spent during the year on:
9. Events occuring after Balance sheet date
The Board of Directors has recommended Equity dividend of Rs. 0.75 per share for the financial year 2018-19.
10. The Financial Statements were authorised for issue by the directors on 21st May, 2019.
11. Previous year figures
The previous year figures have been regrouped/ reclassified, wherever necessary to conform to current year presentation.
Mar 31, 2018
*Payment to key management personnel for Salaries and Incentive includes to Ashok Kumar Jain Rs.17384029 (Previous Year âI9377052 and Anita Gandhi Rs. 3236800 (Previous Year Rs. 3I92000) and to relatives of key management personal includes Shruti Jain Rs. 236I290 (PreviousYear Rs. 800000).
# Rent paid to Ashok Kumar JainâI440000 (Previous Year Rs. 600000), Kiran Jain Rs. 3465000 (Previous Year Rs. 2625000), Ashok Kumar Jain HUF Rs. 4I2500 (Previous Year Rs. 4I2500), Arpit Jain Rs. 4I2500 (Previous Year Rs. 4I2500) and Shyam Developers Rs. 252000 (Previous Year Rs. 2522I0).
% Sitting fees paid to Sunil Kumar Jain Rs. 80000 (Previous Year Rs. 80000), Shailesh Kumath Rs. 20000 (Previous Year Rs. 40000), Paragbhai Shah Rs. 40000 (Previous Year Rs. 80000), Pavan Ved Rs. 80000 (Previous Year Rs. 40000), Ashish Maheshwari Rs. 60000 (Previous Year Rs.Nil) and Akhilesh Rathi Rs. 80000 (PreviousYear Rs. 20000).
A Rent Deposit given includes Ashok Kumar Jain Rs. 350000 (Previous Year Rs. 350000), Kiran Jain Rs. 2037500 (Previous Year Rs. 2037500), Ashok Kumar Jain HUF Rs. 343750 (Previous Year Rs. 343750), Arpit Jain Rs. 343750 (Previous Year Rs. 343750) and Shyam Developers âI3000000 (PreviousYear Rs.13000000).
$ Share of Arihant Financial Planners & Advisors Private Ltd. purchased from Ashok Kumar Jain Rs.Nil (Previous Year Rs. 609750) & Kiran Jain Rs.Nil (PreviousYear Rs. 609750)
Defined Benefit Plan
The gratuity paid by the company is a defined benefit plan.The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the financial obligation. The company does not have any policy for leave encashment.
1. Income in foreign currency Rs.Nil (previous year Rs.Nil). Expenditure in foreign currency Rs.Nil (previous year Rs.Nil).
2. Contingent Liability & Capital Commitments
(i) Bank Guarantees of Rs.10000000 (Previous Year Rs.13500000) extended to ICCL Bombay Stock Exchange Limited under the mandatory rules for membership and Rs. 63500000(PreviousYear Rs. 50000000) towards additional margin.
(ii) Bank Guarantees of Rs. 7500000(Previous Year Rs. 7500000) extended to National Securities Clearing Corporation Limited under the mandatory rules for membership and Rs. 99800000(PreviousYear Rs. 2I0500000) towards additional margin.
(iii) Bank Guarantees of Rs.1500000 (Previous Year Rs.1500000) extended to Metropolitan Stock Exchange India Limited under the mandatory rules for membership .
(iv) Bank Guarantees of Rs. 380I00000 (PreviousYear Rs. 379500000) extended to Axis Bank Ltd ( Clearning Member of Company in NSE FNO segment) towards margin requirement.
(v) Corporate guarantee of Rs. 400000000 (Previous Year Rs. 400000000) given to banks on behalf of subsidiary M/s Arihant Futures and Commodities Limited.
(vi) Claims against the Company not acknowledged as debts Rs.Nil (PreviousYear Rs.Nil).
(vii) Income Tax Demand for various years Rs. 32,79,854 (Rs. 32,79,854)
3. Fixed Deposits
Fixed deposits with scheduled banks include Rs.158400000 (Previous Year Rs. 3732953) which is under the lien of National Securities Clearing Corporation Limited, Rs. 258300000 (Previous Year Rs. 800000) which is under the lien of Axis Bank Ltd for NSEFNO segment, Rs. 500000 (PreviousYear Rs. 500000) which is under the lien of Axis Bank Ltd for MSEIL currency derivative segment.
4. Disclosures underThe Micro, Small, & Medium Enterprises Development Act, 2006
Under the Micro, Small and Medium Enterprises Development Act, 2006, certain disclosures are required to be made relating to Micro, Small and Medium Enterprises (SME). The Company is in the process of compiling relevant information from its suppliers about their coverage under the said act. Since the relevant information is not readily available, no disclosures have been made in the accounts. however, in view of the management, the amounts due to the suppliers are paid within the mutually agreed credit period and therefore, there will not be any interest that may be payable in accordance with the provisions of the Act.
5. Securities are normally held by the Company in its own name except securities pledged with exchange.
6. Securities received from clients as collateral for margins are held by the Company in its own name in a fiduciary capacity.
7. Segment Reporting
As per the definition of âBusiness Segmentâ and âGeographical Segmentâ contained in Accounting Standard I7 âSegment Reportingâ, the management is of the opinion that the Companyâs operation comprise of operating in Primary and Secondary market and incidental activities thereto, there is neither more than one reportable business segment nor more than one reportable geographical segment, and, therefore, segment information as per Accounting Standard I7 is not required to be disclosed.
8. In accordance with the General Circular No.2 and 3 dated 8th Feb 20II and 2Ist Feb 20II issued by The Ministry of Corporate Affairs, Government of India,The Balance sheet, the Statement of profit and loss and other documents of the subsidiary are not being attached with the Annual Accounts of the company, subject to fulfillment of conditions stipulated in the circular.The Company has satisfied the conditions stipulated in the circular and hence is entitled to the exemption. Necessary information relating to the subsidiaries has been included in the Consolidated Financial Statements.
9. Corporate Social Responsibility
The company has formed a CSR committtee responsible to spend the required amount on CSR activities recognized by them and to monitor whether the same have been utilised for the intended purpose.
a) Gross amount required to be spent by the company during the year (Rs.)2793061
b) Amount spent during the year on:
10. Events occuring after Balance sheet date
The Board of Directors has recommended Equity dividend of Rs. 0.75 per share for the financial year 20I7-I8.
11. The Financial Statements were authorised for issue by the directors on 28th May, 20I8.
12. Previous year figures
The previous year figures have been regrouped/ reclassified, wherever necessary to conform to current year presentation.
Mar 31, 2016
1. Income in foreign currency Rs.11143 (previous year Rs.11809). Expenditure in foreign currency Rs.Nil (previous year Rs.Nil).
2. Contingent Liability & Capital Commitments
(i) Bank Guarantees of Rs.11000000 (Previous Year Rs.11000000) extended to Bombay Stock Exchange Limited under the mandatory rules for membership and Rs. 56000000(Previous Year Rs.66000000) towards additional margin.
(ii) Bank Guarantees of Rs. 7500000(Previous Year Rs.7500000) extended to National Securities Clearing Corporation Limited under the mandatory rules for membership and Rs. 450000000(Previous Year Rs.397000000) towards additional margin.
(iii) Bank Guarantees of Rs.1500000 (Previous Year Rs.1500000) extended to MCX-SX Clearing Corporation Limited under the mandatory rules for membership and Rs. Nil (Previous Year Rs.10000000) towards additional margin.
(iv) Corporate guarantee of Rs.400000000 (Previous Year Rs.250000000) given to banks on behalf of subsidiary M/s Arihant Futures and Commodities Limited.
(v) Claims against the Company not acknowledged as debts Rs. Nil (Previous Year Rs. Nil).
(vi) Income Tax Demand for various years Rs.62,27,187 (Rs.36,07,534)
3. Fixed Deposits
Fixed deposits with scheduled banks include Rs.5390743 (Previous Year Rs.4321522) which is under the lien of National Securities Clearing Corporation Limited, Rs.Nil (Previous Year Rs.14000000) which is under the lien of Bombay Stock Exchange Limited, Rs.3000000 (Previous Year Rs.5500000) which is under the lien of MCX-SX Clearing Corporation Limited.
4. Disclosures under The Micro, Small, & Medium Enterprises Development Act,2006
Under the Micro, Small and Medium Enterprises Development Act, 2006, certain disclosures are required to be made relating to Micro, Small and Medium Enterprises (SME). The Company is in the process of compiling relevant information from its suppliers about their coverage under the said act. Since the relevant information is not readily available, no disclosures have been made in the accounts. however, in view of the management, the amounts due to the suppliers are paid within the mutually agreed credit period and therefore, there will not be any interest that may be payable in accordance with the provisions of the Act.
5. Securities are normally held by the Company in its own name except securities pledged with exchange. Securities, which are not registered in the name of the Company, are held by the Company with valid transfer documents.
6. Securities received from clients as collateral for margins are held by the Company in its own name in a fiduciary capacity.
7. Segment Reporting
As per the definition of'' Business Segment'' and'' Geographical Segment'' contained in Accounting Standard 17"Segment Reporting", the management is of the opinion that the Company''s operation comprise of operating in Primary and Secondary market and incidental activities thereto, there is neither more than one reportable business segment nor more than one reportable geographical segment, and, therefore, segment information as per Accounting Standard 17 is not required to be disclosed.
8. Previous year figures
The previous year figures have been regrouped/ reclassified, wherever necessary to conform to current year presentation.
9. In accordance with the General Circular No.2 and 3 dated 8th Feb 2011 and 21st Feb 2011 issued by The Ministry of Corporate Affairs, Government of India, The Balance sheet, the Statement of profit and loss and other documents of the subsidiary are not being attached with the Annual Accounts of the company, subject to fulfillment of conditions stipulated in the circular. The Company has satisfied the conditions stipulated in the circular and hence is entitled to the exemption. Necessary information relating to the subsidiaries has been included in the Consolidated Financial Statements.
Mar 31, 2015
1. Related party transactions
Related party disclosures, as required by Accounting Standard 18,
"Related Party Disclosures" issued by the Institute of Chartered
Accountants of India for the year ended 31st March, 2015 are given
below:
Relationships (During the year)
Key Management Personnel Mr. Ashok Kumar Jain,
Chairman & Managing
Director
Mr. Sunil Kumar Jain, Director
Mr. Akhilesh Rathi, Director
Mrs. Anita S Gandhi,
Whole Time Director
Mr. Parag R. Shah, Director
Mr. Pankaj Kumar Gupta, Director
Mr. Rakesh Jain, Director
Subsidiaries Arihant Futures & Commodities
Limited
Arihant Financial Services
Limited
Arihant Lifespace Infra
Developers Limited (Formerly
known as Arihant Finsec Limited)
Quest Global Technologies
Limited (Formerly Known as
Arihant Quality Educational
Services And Trainings Limited)
(Upto 31.03.2015 )
Arihant Insurance Broking
Services Limited
Arihant Financial Planners
& Advisors Private Limited
Ahinsa Lifespace Infraheight
Limited Arihant Housing Finance
Corporation Limited
Relatives of Key Management Personnel Arpit Jain
Ashok Kumar Jain HUF
Kiran Jain
Shruti Jain
Enterprises over which control M/s. Shyam Developers
Figure in italics represents previous year figures
*Payment to key management personnel for Salaries and Incentive
includes to Ashok Kumar Jain Rs. 8305500 (Previous Year Rs.3674223) and
Anita Gandhi Rs. 2996000 (Previous Year Rs.2956800) and to relatives of key
management personal includes Shruti Jain Rs.619831(Previous Year
Rs.612594).
# Rent paid to Kiran Jain Rs.2025000 (Previous Year Rs.2175000), Ashok
Kumar Jain HUF Rs.412500 (Previous Year Rs.412500) and Arpit Jain Rs.412500
(Previous Year Rs.412500).
$ Professional fees paid to S.N. Gandhi Rs.Nil (Previous Year Rs.123596).
% Sitting fees paid to Sunil Kumar Jain Rs.60000 (Previous Year Rs.60000),
Rakesh Jain Rs.80000 (Previous Year Rs.80000), Pankaj Kumar Gupta Rs.40000
(Previous Year Rs.60000), Paragbhai Shah Rs.60000 (Previous Year Rs.60000)
and Akhilesh Rathi Rs. 80000 (Previous Year Rs.60000).
A Rent Deposit given includes Kiran Jain Rs.1687500 (Previous Year
Rs.1837500), Ashok Kumar Jain HUF Rs. 343750 (Previous Year Rs.343750) and
Arpit Jain Rs.343750 (Previous Year Rs.343750).
Defined Benefit Plan
The gratuity paid by the company is a defined benefit plan. The present
value of obligation is determined based on actuarial valuation using
the Projected Unit Credit Method, which recognizes each period of
service as giving rise to additional unit of employee benefit
entitlement and measures each unit separately to build up the financial
obligation. The company does not has any policy for leave encashment.
2. Income in foreign currency Rs.11,809 (previous year Rs.51,763).
Expenditure in foreign currency Rs.Nil(previous year Rs.Nil).
3. Contingent Liability & Capital Commitments
(i) Bank Guarantees of Rs.11000000 (Previous Year Rs.11000000) extended to
Bombay Stock Exchange Limited under the mandatory rules for membership
and Rs. 66000000(Previous Year Rs.48000000) towards additional margin.
(ii) Bank Guarantees of Rs.7500000(Previous Year Rs.7500000) extended to
National Securities Clearing Corporation Limited under the mandatory
rules for membership and Rs. 397000000(Previous Year Rs.269500000) towards
additional margin.
(iii) Bank Guarantees of Rs.1500000 (Previous Year Rs.1500000) extended to
MCX-SX Clearing Corporation Limited under the mandatory rules for
membership and Rs.10000000 (Previous Year Rs.20000000) towards additional
margin.
(iv) Corporate guarantee of Rs.250000000 (Previous Year Rs.200000000) given
to banks on behalf of subsidiary M/s Arihant Futures and Commodities
Limited.
(v) Claims against the Company not acknowledged as debts Rs.Nil (Previous
Year Rs.Nil).
(vi) Income Tax Demand for various years Rs.3607534 (Rs.3571794)
4. Fixed Deposits
Fixed deposits with scheduled banks include Rs.4321522 (Previous Year
Rs.72261000) which is under the lien of National Securities Clearing
Corporation Limited, Rs.14000000 (Previous Year Rs.13000000) which is under
the lien of Bombay Stock Exchange Limited, Rs.5500000 (Previous Year
Rs.5500000) which is under the lien of MCX-SX Clearing Corporation
Limited.
5. Disclosures under Micro, Small, & Enterprises Development Act,2006
Under the Micro, Small and Medium Enterprises Development Act, 2006,
certain disclosures are required to be made relating to Micro, Small
and Medium Enterprises (SME). The Company is in the process of
compiling relevant information from its suppliers about their coverage
under the said act. Since the relevant information is not readily
available, no disclosures have been made in the accounts. however, in
view of the management, the amounts due to the suppliers are paid
within the mutually agreed credit period and therefore, there will not
be any interest that may be payable in accordance with the provisions
of the Act.
6. Securities are normally held by the Company in its own name except
securities pledged with exchange. Securities, which are not registered
in the name of the Company, are held by the Company with valid transfer
documents.
7. Securities received from clients as collateral for margins are
held by the Company in its own name in a fiduciary capacity.
8. Segment Reporting
As per the definition of 'Business Segment' and 'Geographical Segment'
contained in Accounting Standard 17 "Segment Reporting", the management
is of the opinion that the Company's operation comprise of operating in
Primary and Secondary market and incidental activities thereto, there
is neither more than one reportable business segment nor more than one
reportable geographical segment, and, therefore, segment information as
per Accounting Standard 17 is not required to be disclosed.
9. Previous year figures
The previous year figures have been regrouped/ reclassified, wherever
necessary to conform to current year presentation.
10. In accordance with the General Circular No.2 and 3 dated 8th Feb
2011 and 21st Feb 2011 issued by The Ministry of Corporate Affairs,
Government of India, The Balance sheet, the Statement of profit and
loss and other documents of the subsidiary are not being attached with
the Annual Accounts of the company, subject to fulfillment of
conditions stipulated in the circular.The Company has satisfied the
conditions stipulated in the circular and hence is entitled to the
exemption. Necessary information relating to the subsidiaries has been
included in the Consolidated Financial Statements.
Mar 31, 2014
1.The Company had exposure to National Spot Exchange Limited (NSEL) of
Rs.2,96,55,693/- with respect to Proprietary positions. NSEL has not been
able to adhere to its payment obligation over the past few months. The
Company has perused legal action against NSEL through its broker and
other by filing writ petition in Bombay High Court and criminal
complaint in Economic Offences Wing (EOW) jointly with other victimized
brokers and clients. Pending Final outcome which is uncertain , the
company has written off the amount of Rs.2,86,51,143/- in respect of its
Proprietary position which is disclosed under the head "Exceptional
Items".
2. Related party transactions
"Related party disclosures, as required by Accounting Standard 18,
"Related Party Disclosures" issued by the Institute of Chartered
Accountants of India for the year ended 31st March, 2014 are given
below:"
Relationships (During the year)
Key Management Personnel :
Ashok Kumar Jain, Chairman & Managing Director
Sunil Kumar Jain, Director
Akhilesh Rathi, Director
Anita Gandhi, Director
Parag R. Shah, Director
Pankaj Kumar Gupta, Director
Rakesh Jain, Director
Subsidiaries :
Arihant Futures & Commodities Limited
Arihant Financial Services Limited
Arihant Finsec Limited
Arihant Insurance Broking Services Limited
Arihant Financial Planners & Advisors Private Limited
Arihant Quality Educational Services And Trainings Ltd
Ahinsa Lifespace Infraheight Limited
Relatives of Key Management Personnel
Arpit Jain
Ashok Kumar Jain HUF
Kiran Jain
S.N. Gandhi & Co.
Shruti Jain
*Payment to key management personnel for Salaries and Incentive
includes to Ashok Kumar Jain Rs.3674223 (Previous Year Rs.3638182) and
Anita Gandhi Rs.2956800 (Previous Year Rs.2956800) and to relatives of key
management personal includes Shruti Jain Rs.612594 (Previous Year
Rs.523208).
# Rent paid to Kiran Jain Rs.2175000 (Previous Year Rs.2205000), Ashok
Kumar Jain HUF Rs.412500 (Previous Year Rs.412500) and Arpit Jain
Rs.412500 (Previous Year Rs.412500).
$ Professional fees paid to S.N. Gandhi Rs.123596 (Previous Year
Rs.741576).
% Sitting fees paid to Sunil Kumar Jain Rs.60000 (Previous Year
Rs.60000), Rakesh Jain Rs.80000 (Previous Year Rs.60000), Pankaj Kumar Gupta Rs.60000 (Previous Year Rs.30000), Paragbhai Shah Rs.60000 (Previous Year Rs.30000) and Akhilesh Rathi Rs.60000 (Previous Year Rs.60000).
A Rent Deposit given includes Kiran Jain Rs.1837500 (Previous Year
Rs.1837500), Ashok Kumar Jain HUF Rs.343750 (Previous Year Rs.343750)
and Arpit Jain Rs.343750 (Previous Year Rs.343750).
3. Income in foreign currency Rs.51763 (previous year Rs.30,625).
Expenditure in foreign currency Rs.Nil(previous year Rs.Nil).
4. Contingent Liability & Capital Commitments
(i) Bank Guarantees of Rs.11000000 (Previous Year Rs.1000000) extended
to Bombay Stock Exchange Limited under the mandatory rules for
membership and Rs.48000000 (Previous Year Rs.62000000) towards
additional margin.
(ii) Bank Guarantees of Rs.7500000 (Previous Year Rs.7500000) extended
to National Securities Clearing Corporation Limited under the mandatory
rules for membership and Rs.269500000 (Previous Year Rs.254500000)
towards additional margin.
(iii) Bank Guarantees of Rs.1500000 (Previous Year Rs.Nil) extended to
MCX-SX Clearing Corporation Limited under the mandatory rules for
membership and Rs.20000000 (Previous Year Rs.85000000) towards
additional margin.
(iv) Corporate guarantee of Rs.200000000 (Previous Year Rs.600000000)
given to banks on behalf of subsidiary M/s Arihant Futures and
Commodities Limited.
(v) Claims against the Company not acknowledged as debts Rs.Nil
(Previous Year Rs.Nil).
(vi) Income Tax Demand for various years Rs.35,71,794 (Rs.26,28,451)
5. Fixed Deposits
Fixed deposits with scheduled banks include Rs.72261000 (Previous Year
Rs.500000) which is under the lien of National Securities Clearing
Corporation Limited, Rs.13000000 (Previous Year Rs.125000) which is under
the lien of Bombay Stock Exchange Limited, Rs.5500000 (Previous Year
Rs.26500000) which is under the lien of MCX-SX Clearing Corporation
Limited.
6. Disclosures under Micro, Small, & Enterprises Development Act,2006
Under the Micro, Small and Medium Enterprises Development Act, 2006,
certain disclosures are required to be made relating to Micro, Small
and Medium Enterprises (SME). The Company is in the process of
compiling relevant information from its suppliers about their coverage
under the said act. Since the relevant information is not readily
available, no disclosures have been made in the accounts. however, in
view of the management, the amounts due to the suppliers are paid
within the mutually agreed credit period and therefore, there will not
be any interest that may be payable in accordance with the provisions
of the Act.
7. Securities are normally held by the Company in its own name except
securities pledged with exchange. Securities, which are not registered
in the name of the Company, are held by the Company with valid transfer
documents.
8. Securities received from clients as collateral for margins are held
by the Company in its own name in a fiduciary capacity.
9. Segment Reporting
As per the definition of ''Business Segment'' and ''Geographical Segment''
contained in Accounting Standard 17 "Segment Reporting", the management
is of the opinion that the Company''s operation comprise of operating in
Primary and Secondary market and incidental activities thereto, there
is neither more than one reportable business segment nor more than one
reportable geographical segment, and, therefore, segment information as
per Accounting Standard 17 is not required to be disclosed.
10. Previous year figures
The previous year figures have been regrouped/ reclassified, wherever
necessary to conform to current year presentation.
11. The Ministry of Corporate Affairs, Government of India, vide
General Circular No.2 and 3 dated 8th Feb, 2011 and 21st Feb, 2011
respectively has granted a general exemption from compliance with
section 212 of the Companies Act,1956, subject to fulfillment of
conditions stipulated in the circular. The Company has satisfied the
conditions stipulated in the circular and hence is entitled to the
exemption. Necessary information relating to the subsidiaries has been
included in the Consolidated Financial Statements.
Mar 31, 2013
1. Income in foreign currency Rs.30,625(previous year Rs.20,593).
Expenditure in foreign currency Rs.Nil (previous year Rs.1,60,699).
2. Contingent Liability & Capital Commitments
(i) Bank Guarantees of Rs.10 Lacs (Previous Year Rs.10 Lacs) extended to
Bombay Stock Exchange Limited under the mandatory rules for membership
and Rs.620 Lacs (Previous Year Rs.840 Lacs) towards additional margin.
(ii) Bank Guarantees of Rs.75 Lacs (Previous Year Rs.75 Lacs) extended to
National Securities Clearing Corporation Limited under the mandatory
rules for membership and Rs.2545 Lacs (Previous Year Rs.2625 Lacs) towards
additional margin.
(iii) Bank Guarantees of Rs.850 Lacs (Previous Year Rs.550 Lacs) extended
to MCX-SX Clearing Corporation Limited towards additional margin. (iv)
Corporate guarantee of Rs.5000 Lacs (Previous Year Rs.3000 Lacs) given to
banks on behalf of subsidiary M/s Arihant Futures and Commodities
Limited.
(v) Claims against the Company not acknowledged as debts Rs. Nil
(Previous Year Rs.Nil). 27. Fixed Deposits Fixed deposits with
scheduled banks include Rs.5.00 Lacs (Previous Year Rs.601.50 Lacs) which
is under the lien of National Securities Clearing Corporation Limited,
Rs.1.25Lacs (Previous Year Rs.1.25 Lacs) which is under the lien of Bombay
Stock Exchange Limited, Rs.265.00 Lacs (Previous Year Rs.351.00 Lacs) which
is under the lien of MCX-SX Clearing Corporation Limited. 28.
Disclosures under Micro, Small & Medium Enterprises Development
Act,2006 Under the Micro, Small and Medium Enterprises Development Act,
2006, certain disclosures are required to be made relating to Micro,
Small and Medium Enterprises (SME). The Company is in the process of
compiling relevant information from its suppliers about their coverage
under the said act. Since the relevant information is not readily
available, no disclosures have been made in the accounts. however, in
view of the management, the amounts due to the suppliers are paid
within the mutually agreed credit period and therefore, there will not
be any interest that may be payable in accordance with the provisions
of the Act.
3. Securities are normally held by the Company in its own name except
securities pledged with exchange. Securities, which are not registered
in the name of the Company, are held by the Company with valid transfer
documents. 30. Securities received from clients as collateral for
margins are held by the Company in its own name in a fiduciary
capacity.
4. Segment Reporting
As per the definition of ''Business Segment'' and ''Geographical Segment''
contained in Accounting Standard 17 "Segment Reporting", the management
is of the opinion that the Company''s operation comprise of operating in
Primary and Secondary market and incidental activities thereto, there
is neither more than one reportable business segment nor more than one
reportable geographical segment, and, therefore, segment information as
per Accounting Standard 17 is not required to be disclosed.
5. Previous year figures
The previous year figures have been regrouped/ reclassified, wherever
necessary to conform to current year presentation.
6. The Ministry of Corporate Affairs, Government of India, vide
General Circular No.2 and 3 dated 8th Feb, 2011 and 21st Feb, 2011
respectively has granted a general exemption from compliance with
section 212 of the Companies Act,1956, subject to fulfillment of
conditions stipulated in the circular. The Company has satisfied the
conditions stipulated in the circular and hence is entitled to the
exemption. Necessary information relating to the subsidiaries has been
included in the Consolidated Financial Statements.
Mar 31, 2012
*Payment to key management personnel for Salaries and Incentive
includes to Ashok Kumar Jain (CMD) Rs 3643443 (Previous Year Rs
8135142) and Anita Gandhi (as Whole Time Director) Rs 2956800 (Previous
Year Rs 3566905) and to relatives of key management personnel includes
Shruti Jain Rs 557499 (Previous Year Rs 240000) and Kiran Jain Rs NIL
(Previous Year Rs 60000).
#Rent paid to Kiran Jain Rs 2205000 (Previous Year Rs 1145000), Ashok
Kumar Jain HUF Rs 412500 (Previous Year Rs 412500) and Arpit Jain Rs
412500 (Previous Year Rs 412500).
$Professional fees paid to S.N. Gandhi Rs 660000 (Previous Year Rs
1280000).
% Sitting fees paid to Sunil kumar Jain Rs 40000 (Previous Year Rs
40000), Rakesh Jain Rs 40000 (Previous Year Rs 40000) ,Pankaj Kumar
Gupta Rs 20000 (Previous Year Rs 30000), Paragbhai Shah Rs 40000
(Previous Year Rs 30000) and Akhilesh Rathi Rs 30000 (Previous Year Rs
30000).
-Deposit given includes Kiran Jain Rs 1575000 (Previous Year Rs
1575000), Ashok Kumar Jain HUF Rs 300000 (Previous Year Rs 300000) and
Arpit Jain Rs 300000 (Previous Year Rs 300000).
1. Income in foreign currency Rs 20,593 (previous year Rs Nil).
Expenditure in foreign currency Rs 160699/- (previous year Rs Nil).
2. Contingent Liability & Capital Commitments
(i) Bank Guarantees of Rs 10 Lacs (Previous Year Rs 10 Lacs) extended
to Bombay Stock Exchange Limited under the mandatory rules for
membership and Rs 840 Lacs (Previous Year Rs 1190 Lacs) towards
additional margin.
(ii) Bank Guarantees of Rs 75 Lacs (Previous Year Rs 75 Lacs) extended
to National Securities Clearing Corporation Limited under the mandatory
rules for membership and Rs 2625 Lacs (Previous Year Rs 2750 Lacs)
towards additional margin.
(iii) Bank Guarantees of Rs 550 Lacs (Previous Year Rs 75 Lacs)
extended to MCX-SX Clearing Corporation Limited towards additional
margin.
(iv) Corporate guarantee of Rs 3000 Lacs (Previous Year Rs 1550 Lacs)
given to banks on behalf of subsidiary M/s Arihant Futures and
Commodities Limited.
(v) Claims against the Company not acknowledged as debts Rs Nil
(Previous Year Rs 3.98 Lacs).
3. Fixed Deposits
Fixed deposits with scheduled banks include Rs 601.50 Lacs (Previous
Year Rs 120.00 Lacs) which is under the lien of National Securities
Clearing Corporation Limited, Rs 1.25 Lacs (Previous Year Rs 1.25 Lacs)
which is under the lien of Bombay Stock Exchange Limited, Rs 351.00
Lacs (Previous Year Rs 105.00 Lacs) which is under the lien of MCX-SX
Clearing Corporation Limited.
4. Disclosures under Micro, Small, & Enterprises Development Act,2006
Under the Micro, Small and Medium Enterprises Development Act, 2006,
certain disclosures are required to be made relating to Micro, Small
and Medium Enterprises (SME). The Company is in the process of
compiling relevant information from its suppliers about their coverage
under the said act. Since the relevant information is not readily
available, no disclosures have been made in the accounts. however, in
view of the management, the amounts due to the suppliers are paid
within the mutually agreed credit period and therefore, there will not
be any interest that may be payable in accordance with the provisions
of the Act.
5. Securities are normally held by the Company in its own name except
securities pledged with exchange. Securities, which are not registered
in the name of the Company, are held by the Company with valid transfer
documents.
6. Securities received from clients as collateral for margins are held
by the Company in its own name in a fiduciary capacity.
7. Segment Reporting
As per the definition of Business SegmentRs and Geographical
Segment' contained in Accounting Standard 17 'Segment Reporting' the
management is of the opinion that the Company's operation comprise of
operating in Primary and Secondary market and incidental activities
thereto, there is neither more than one reportable business segment nor
more than one reportable geographical segment, and, therefore, segment
information as per Accounting Standard 17 is not required to be
disclosed.
8. Previous year figures
Till the year ended 31st March 2011, the company was using pre-revised
Schedule VI to the Companies Act 1956, for preparation and presentation
of its financial statements. During the year ended 31st March 2012, the
revised Schedule VI notified under the Companies Act 1956, has become
applicable to the company. The company has reclassified previous year
figures to conform to this year's classification.
9. The Ministry of Corporate Affairs, Government of India, vide
General Circular No.2 and 3 dated 8th Feb 2011 and 21st Feb 2011
respectively has granted a general exemption from compliance with
section 212 of the Companies Act,1956,subject to fulfillment of
conditions stipulated in the circular. The Company has satisfied the
conditions stipulated in the circular and hence is entitled to the
exemption. Necessary information relating to the subsidaries has been
included in the Consolidated Financial Statements.
Mar 31, 2011
1. Securities are normally held by the Company in its own name except
securities pledged with exchange. Securities, which are not registered
in the name of the Company, are held by the Company with valid transfer
documents.
2. Securities received from clients as collateral for margins are held
by the Company in its own name in a fiduciary capacity.
3. Contingent Liabilities not provided for:
(i) Bank Guarantees of Rs.10 Lacs (Previous Year Rs.10 Lacs) extended
to Bombay Stock Exchange Limited under the mandatory rules for
membership and 1190 Lacs (Previous Year Rs.1165 Lacs) towards
additional margin.Rs.
(ii) Bank Guarantees of Rs.75 Lacs (Previous Year Rs.75 Lacs) extended
to National Securities Clearing Corporation Limited under the mandatory
rules for membership and Rs. 2750 Lacs (Previous Year Rs.2750 Lacs)
towards additional margin.
(iii) Bank Guarantees of Rs.75 Lacs (Previous Year Rs.75 Lacs) extended
to MCX-SX Clearing Corporation Limited towards additional margin.
(iv) Income Tax matters in respect of which appeal is pending - Rs.
52.80 Lacs (net of payments) (Previous year Rs.10.00 Lacs).
(v) Corporate guarantee of Rs.1550 Lacs (Previous Year Rs.1000 Lacs)
given to banks on behalf of subsidiary M/s Arihant Futures and
Commodities Limited.
(vi) Claims against the Company not acknowledged as debts Rs.3.98 Lacs
(Previous Year Rs. 3.98 Lacs).
4. There is no income and expenditure in foreign currency.
5. Fixed deposits with scheduled banks include Rs. 120. 00 Lacs
(Previous Year Rs. 275.00 Lacs) which is under the lien of National
Securities Clearing Corporation Limited, Rs.1.25 Lacs (Previous Year
Rs.1.25 Lacs) which is under the lien of Bombay Stock Exchange Limited,
Rs.105.00 Lacs (Previous Year Rs.125.00 Lacs) which is under the lien
of MCX-SX Clearing Corporation Limited.
6. Related party disclosures, as required by Accounting Standard 18,
"Related Party Disclosures" issued by the Institute of Chartered
Accountants of India for the year ended 31st March, 2011 are given
below:
Relationships (During the year)
1. Key Management Mr. Ashok Kumar Jain, Chairman
Personnel & Managing Director
Mr. Sunil Kumar Jain, Director
Mr. Akhilesh Rathi, Director
Mrs. Anita Gandhi, Whole-time Director
Mr. Rakesh Jain, Director
Mr. Parag Shah, Director
Mr. Pankaj Kumar Gupta, Director
2. Relatives of
Key Management
Personnel
and other
proprietary /
partnership
concerns Mrs. Kiran Jain
Ms. Shruti Jain
Mr. Arpit Jain
Ms. Swati Jain
Ashok Jain HUF
Sunil Jain HUF
Mr. Kamal Kumar Jain
Mrs. Meena Jain
Mrs. Shanta Jain
S.N. Gandhi & Co.
3. Subsidiaries Arihant Financial Services Limited
Arihant Finsec Limited
Arihant Futures & Commodities Limited
Arihant Insurance Broking Services Limited
* Figures reported for the previous year in respect of Mrs. Anita S.
Gandhi are after 01.02.10, the date on which she was appointed as Whole
time Director.
7. Under the Micro, Small and Medium Enterprises Development Act,
2006, certain disclosures are required to be made relating to Micro,
Small and Medium Enterprises (SME). The Company is in the process of
compiling relevant information from its suppliers about their coverage
under the said Act. Since the relevant information is not readily
available, no disclosures have been made in the accounts. however, in
view of the management, the amounts due to the suppliers are paid
within the mutually agreed credit period and therefore, there will not
be any interest that may be payable in accordance with the provisions
of this Act.
8. As per the definition of 'Business Segment and 'Geographical
Segment contained in Accounting Standard 17 "Segment Reporting", the
management is of the opinion that the Company's operation comprise of
operating in Primary and Secondary market and incidental activities
thereto, there is neither more than one reportable business segment nor
more than one reportable geographical segment, and, therefore, segment
information as per Accounting Standard 17 is not required to be
disclosed.
9. Figures for the previous year have been regrouped wherever
necessary to conform to current years classifications.
Mar 31, 2010
1. Securities are normally held by the Company in its own name except
securities pledged with exchange. Securities, which are not registered
in the name of the Company, are held by the Company with valid transfer
documents.
2. Securities received from clients as collateral for margins are held
by the Company in its own name in a fiduciary capacity.
3. Contingent Liabilities not provided for:
(i) Bank Guarantees of Rs.10 Lacs (previous year Rs. 10 lacs) extended
to Bombay Stock Exchange Limited under the mandatory rules for
membership and Rs. 1165 Lacs (previous year Rs. 770 lacs) towards
additional margin.
(ii) Bank Guarantees of Rs.75 lacs (previous year Rs. 75 lacs) extended
to National Securities Clearing Corporation Limited under the
mandatory rules for membership and Rs. 2750 Lacs (Previous Year Rs.
2350 Lacs) towards additional margin. (iii) Bank Guarantees of Rs.75
lacs (previous year Rs. Nil) extended to MCX-SX Clearing Corporation
Limited towards additional margin. (iv) Income Tax matters in respect
of which appeal is pending - Rs.10.00 Lacs (net of payments)(previous
year Rs. 10.00 lacs). (v) Corporate guarantee of Rs.1000 lacs
(previous year Rs. 300 Lacs) given to banks on behalf of subsidiary M/s
Arihant Futures and Commodities Limited.
(vi) Claims against the Company not acknowledged as debts Rs.3.98 lacs
( previous year Rs. Nil)
3. There is no expenditure in foreign currency.
4. Fixed deposits with scheduled banks include Rs.275.00 lacs
(previous year Rs. 230.00 Lacs) which is under the lien of National
Securities Clearing Corporation Limited, Rs. 1.25 lacs (previous year
Rs. 51.25 Lacs) which is under the lien of Bombay Stock Exchange
Limited, Rs.125.00 lacs (Previous Year Rs.150.00 lacs) which is under
the lien of MCX-SX Clearing Corporation Limited.
5. Related party disclosures, as required by Accounting Standard 18,
"Related Party Disclosures" issued by the Institute of Chartered
Accountants of India for the year ended March 31, 2010 are given below:
Relationships (During the year)
1. Key Management Personnel
Mr. Ashok Kumar Jain, Chairman & Managing Director Mr. Sunil Kumar
Jain, Director Mr. Akhilesh Rathi, Director Ms. Anita Gandhi, Director
Mr. Rakesh Jain, Director
2. Relatives of Key Management Personnel and other
proprietary/partnership concerns
Ms. Kiran Jain Ms. Shruti Jain Mr. Arpit Jain Ms. Swati Jain Ashok Jain
HUF Sunil Jain HUF Mr. Kamal Kumar Jain Ms. Meena Jain Ms. Shanta Jain
S.N. Gandhi & Co.
3. Subsidiaries
Arihant Financial Services Limited Arihant Finsec Limited Arihant
Futures & Commodities Limited Arihant Insurance Broking Services
Limited
6. Under the Micro, Small and Medium Enterprises Development Act,
2006, certain disclosures are required to be made relating to Micro,
Small and Medium Enterprises (SME). The Company is in the process of
compiling relevant information from its suppliers about their coverage
under the said Act. Since the relevant information is not readily
available, no disclosures have been made in the accounts. However, in
view of the management, the amounts due to the suppliers are paid
within the mutually agreed credit period and therefore, there will not
be any interest that may be payable in accordance with the provisions
of this Act.
7. As per the definition of Business Segment and Geographical
Segment contained in Accounting Standard 17 ÃSegment ReportingÃ, the
management is of the opinion that the Companys operation comprise of
operating in Primary and Secondary market and incidental activities
thereto, there is neither more than one reportable business segment nor
more than one reportable geographical segment, and, therefore, segment
information as per Accounting Standard 17 is not required to be
disclosed.
8. Figures for the previous year have been regrouped wherever
necessary to conform to current years classifications.]
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