Mar 31, 2015
1. SHARE CAPITAL
a) The company has only one class of equity shares having a par value
of Rs.2/-. The holders of the equity shares are entitled to receive
dividends as declared from time to time, and are entitled to voting
rights proportionate to their share holding at the meetings of
shareholders.
b) Following Shareholders hold equity shares more than 5% of the total
equity shares of the company at the end of the period :
c) Bonus Shares issued during the last 5 Years:-
The company has not issued any bonus shares during the period of last 5
years
AS AT AS AT
31.03.2015 31.03.2014
(Rs.In Lacs) (Rs.In Lacs)
2. Contingent Liabilities not provided
for (excluding matters separately dealt
with in other notes)
a) Counter guarantees issued to Bankers in NIL NIL
respect of guarantees issued by them
b) Guarantees issued on behalf of Ltd. Co's NIL NIL
3. In the opinion of the Board, all Current Assets, Loans & Advances
(Except where indicated otherwise) collectively have a value on
realisation in the ordinary course of business at least equal to the
amount at which they are stated.
4. Balance confirmation certificates from parties, as appearing in
the Balance Sheet under the heads 'Current Liabilities' on the
liabilities side and 'Loans & Advances' on the assets side of the
Balance Sheet are subject to confirmations of balances to the extent
received have been reconciled/under reconciliation.
5. Depreciation and Amortization on tangible and intangible fixed
assets: the Company was hitherto charging depreciation on Written Down
Value (WDV) at the rates provided in Schedule XIV of the Companies Act,
1956. In the current year, the Company has reassessed the useful life
of assets, and adopted the useful life as provided in Schedule II of
the Companies Act, 2013.
Consequent to change of useful life as above, an amount of Rs.5493/-
representing WDV of those assets whose useful life had already expired
as on 1 st April, 2014 has been adjusted against the Surplus / Deficit
in Schedule 3, Reserves & Surplus.
Had there been no change, depreciation charge for the year would have
been Higher by Rs.1853/- and Loss for the year would have been higher
by the same amount.
6. Provision regarding Provident fund and Gratuity Act, 1972 are not
applicable to the company during the year under reference.
7. The company is engaged in the business of non-banking financial
activity. Since all the activities relate to main activity, in the
opinion of the management, there is only one business segment in terms
of AS-17 on segment reporting issued by ICAI.
8. Related Party Disclosures:
In accordance with the Accounting Standards (AS-18) on Related Party
Disclosure, where control exists and where key management personnel are
able to exercise significant influence and, where transactions have
taken place during the year, along with description of relationship as
identified, are given below:-
A. Relationships
Key Managerial Personnel : Sh. Ashwani K.Gupta
9. Tax Expense is the aggregate of current year tax and deferred tax
charged to the Profit and Loss Account for the year.
a) Deferred Tax
The Company estimates the deferred tax asset using the applicable rate
of taxation based on the impact of timing differences between financial
statements and estimated taxable income for the current year. The
movement of provision for deferred tax is given below:
10. Figures for the previous year have been regrouped or recasted
wherever necessary.
11. Disclosure of details as required by revised para 13 of Non
Banking Financial Companies Prudential Norms (Reserve Bank) Directions,
2007, earlier para 9BB of Non-Banking Financial Companies Prudential
Norms (Reserve Bank) Directions, 1998.
Note 1. Companies in the same group means companies under the same
Management as per section 370 (1B) of the Companies Act, 1956.
Note 2. In case of Investments in unquoted shares, it is assumed that
market value is same as book value.
Mar 31, 2014
AS AT 31.03.2014 AS AT 31.03.2013
(Rs. in Lacs)
1. Contingent Liabilities not provided for
(excluding matters separately dealt
with in other notes)
a) Counter guarantees issued to
Bankers in NIL NIL
respect of guarantees issued by them
b) Guarantees issued on behalf of Ltd. Co''s NIL NIL
2. Value of Imports on CIF Basis NIL NIL
3. Earning in Foreign Currency NIL NIL
4. Expenditure in Foreign Currency NIL NIL
5. Additional information pursuant to the provisions of para 3 and
4(c) of Part 11 ofSchedule VI of the Companies Act, 1956
6. In the opinion of the Board, all Current Assets, Loans & Advances
(Except where indicated otherwise) collectively have a value on
realisation in the ordinary course of business at least equal to the
amount at which they are stated.
7. Balance confirmation certificates from parties, as appearing in
the Balance Sheet under the heads ''Current Liabilities'' on the
liabilities side and ''Loans & Advances'' on the assets side of the
Balance Sheet are subject to confirmations of balances to the extent
received have been reconciled/under reconciliation.
8. Interest on Loans given to two parties have not been provided in
the accounts as the parties are not responding accordingly. The same
shall be accounted for as and when received.
9. Provision regarding Provident fund and Gratuity Act, 1972 are not
applicable to the company during the year under reference.
10. The company is engaged in the business of non-banking financial
activity. Since all the activities relate to main activity, in the
opinion of the management, there is only one business segment in terms
of AS-17 on segment reporting issued by ICAI.
11. Related Party Disclosures:
In accordance with the Accounting Standards (AS-18) on Related Party
Disclosure, where control exists and where key management personnel are
able to exercise significant influence and, where transactions have
taken place during the year, along with description of relationship as
identified, are given below:-
A. Relationships
Key Managerial Personnel : Sh. Ashwani K.Gupta a. The following
transactions were carried out with related parties in the ordinary
course of business:-
12. Tax Expense is the aggregate of current year tax and deferred tax
charged to the Profit and Loss Account for the year.
a) Current Year Charge:
Income Tax provision of Rs. 2.12 Lacs has been made towards tax
payable for the year.
13. Figures for the previous year have been regrouped or recasted
wherever necessary.
14. The schedule as required in terms of paragraph 9BB of Non-Banking
Financial Companies Prudential Norms (Reserve Bank) directions, 1998 as
amended on 29th March, 2003 is appended as per Annexure-I to the
balance sheet.
Mar 31, 2013
1. In the opinion of the Board, all Current Assets, Loans & Advances
(Except where indicated otherwise) collectively have a value on
realisation in the ordinary course of business at least equal to the
amount at which they are stated.
2. Balance confirmation certificates from parties, as appearing in
the Balance Sheet under the heads ''Current Liabilities'' on the
liabilities side and ''Loans & Advances'' on the assets side of the
Balance Sheet are subject to confirmations of balances to the extent
received have been reconciled/under reconciliation.
3. Interest on Loans given to two parties have not been provided in
the accounts as the parties are not responding accordingly. The same
shall be accounted for as and when received.
4. Provision regarding Provident fund and Gratuity Act, 1972 are not
applicable to thecompany during the year under reference.
5. The company is engaged in the business of non-banking financial
activity. Since all the activities relate to main activity, in the
opinion of the management, there is only one business segment in terms
of AS-17 on segment reporting issued by ICAI.
6. RELATED PARTY DISCLOSURES
In accordance with the Accounting Standards (AS-18) on Related Party
Disclosure, where control exists and where key management personnel are
able to exercise significant influence and, where transactions have
taken place during the year, along with description of relationship as
identified, are given below:-
7. Tax Expense is the aggregate of current year tax and deferred tax
charged to the Profit and Loss Account for the year.
a) Current Year Charge:
Income Tax provision of Rs. 3.00 Lacs has been made towards tax payable
for the year.
b) Deferred Tax
No provision for deferred tax liability as required in AS-22 of "Taxes
on Income" issued by ICAI, has been done as the taxable income and book
profit have no material timing differences.
8. Figures for the previous year have been regrouped or recasted
wherever necessary.
9. The schedule as required in terms of paragraph 9BB of Non-Banking
Financial Companies Prudential Norms (Reserve Bank) directions, 1998 as
amended on 29th March, 2003 is appended as per Annexure- I to the
balance sheet.
Mar 31, 2010
1. Contingent LiabilitiesÃNIL
2. Estimated amount of contract remaining to be executed on Capital
Account (net of advances) Rs. 22.91 lacs (previous year Rs. 22.91
lacs).
3. Receivables andpayables are in the process of confirmation.
4. In the opinion of Board of Directors the current assets, loans and
advances have a realizable value equal to the amount at which they are
stated.
5. Provision regarding Provident fund and Gratuity Act 1972 are not
applicable to the company during the year under reference.
6. The company is engaged in the business of non-banking financial
activity. Since all the activities relate to main activity, in the
opinion of the management, there is only one business segment in terms
of AS-17 on segment reporting issued by ICAI.
7. RELATED PARTY DISCLOSURES
Shri Ashwani K. Gupta, Managing Director of the company has been paid a
remuneration of Rs.t,65,00O/-during the year.
8. The schedule as required in terms of paragraph 9BB of Non-Banking
Financial Companies Pruden- tial Norms (Reserve Bank) directions, 1998
as amended on 29th March, 2003 is appended as per Annexure-I to the
balance sheet.
9. Negative figures have been shown in brackets.
10. Previous years figures have been regrouped, rearranged & recast,
wherever necessary.