Mar 31, 2015
1.Incorporation
The company was incorporated on October 2 7, 1994, in the name of
Continental Credit & Investment Ltd. The name of the company has
subsequently been changed to Contil India Ltd. Vide fresh certificate
dated December 26, 2007 received under the hand of Registrar of
Companies, Gujarat. The listing of the company has been done on a
Bombay Stock Exchange vide security trade Name Contil India BSE Id
:531067. The Company is a Non-Banking Finance Company (not accepting
public deposits) registered with Reserve Bank of India as an Investment
company.
2.NBFC Certificate
The company has received the certificate of registration under section
45( 1 )A of the Reserve Bank of India Act, 1934 to commence the
business of non Banking Financial Institution since 20.03.1998. The
company has been carrying on the business of NBFC and in terms of the
condition of the certificate it has not accepted Public deposits.
Necessary resolution is to be passed by the company every year.
3.Applicability of Prudential Regulations to NBFCs-ND with Assets less
than Rs. 500 crore
Consequent to the redefining of 'systemic significance' the NBFCs-ND
with asset size of less than Rs. 500 crore, are exempted from the
requirement of maintaining CRAR and complying with Credit Concentration
Norms. They shall not be subjected to any regulation either prudential
or conduct of business regulations viz.. Fair Practices Code (FPC),
KYC, etc., if they have not accessed any public funds and do not have a
customer interface. Accordingly this provision is not applicable to
this company.
Mar 31, 2014
Incorporation
The company was incorporated on October 27, 1994 in the name of
Continental Credit & Investment Ltd. The name of the company has
subsequently been changed to Contil India Ltd. vide fresh certificate
dated December 26, 2007 received under the hand of Registrar of
Companies, Gujarat. The listing of the company has been done on a
Bombay Stock Exchange vide security trade Name Contil India BSE Id :
531067. The Company is a Non Banking Finance Company (not accepting
public deposit) registered with Reserve Bank of India as an investment
company.
NBFC Certificate
The Company has received the certificate of registration under section
45(1) A of the Reserve Bank of India Act,1934 to commence the business
of non Banking Financial Institution since 20/03/1998. The company has
been carrying on the business of NBFC and a terms of the condition of
the certificate it has not accepted public deposits.
Mar 31, 2013
COMPANY''S OVERVIEW Incorporation
The company was incorporated on October 27, 1994 in the name of
Continental Credit & Investment Ltd. The name of the company has
subsequently been changed to Contil India Ltd. vide fresh certificate
dated December 26,2007 received under the hand of Registrar of
Companies, Gujarat. The listing of the company has been done on a
Bombay Stock Exchange vide security trade Name Contil India BSE Id :
531067. The Company is a Non Banking Finance Company (not accepting
public deposit) registered with Reserve Bank of India as an investment
company.
NBFC Certificate
The Company has received the certificate of registration under section
45( 1) A of the Reserve Bank of India Act,1934 to commence the business
of non Banking Financial Institution since 20/03/1998. The company has
been carrying on the business of NBFC and a terms of the condition of
the certificate it has not accepted public deposits.
Mar 31, 2012
Notes 1 to 15 annexed to and forming part of Financial Statement for
the Year ended 31st March,2012.
The previous year figures have been regrouped/reclassified, wherever
necessary to confirm to the current year presentation.
The formates which are necessary to reflect the details of the relevant
account balance or transaction are only presented.
COMPANY'S OVERVIEW
Incorporation
The company was incorporated on October 27, 1994 in the name of
Continental Credit & Investment Ltd. The name of the company has
subsequently been changed to Contil India Ltd. vide fresh certificate
dated December 26,2007 received under the hand of Registrar of
Companies, Gujarat. The listing of the company has been done on a
Bombay Stock Exchange vide security trade Name Contil India BSE Id :
531067. The Company is Non Banking Finance Company (not accepting
public deposit) registered with Reserve Bank of India as an investment
company.
NBFC Certificate
The Company has received the certificate of registration under section
45(1) A of the Reserve Bank of India Act, 1934 to commence the business
of Non Banking Financial institution since 20/03/1998. The company has
been carrying on the business of NBFC and a terms of the condition of
the certificate it has not accepted public deposits.
Mar 31, 2011
1) The company has received the certificate of registration under
section 45(1 )A of the Reserve Bank of India Act, 1934 to commence the
business of Non Banking Financial Institution since 20/03/1998. The
company has been carrying on the business of NBFC and in terms of the
condition of the certificate it has not accepted Public Deposits.
2) In the opinion of the Management, the Provident Fund and ESI Act are
not applicable. Hence, no provisions or payment have been made for the
same as explained by the management, the company do not provide any
retirement benefits to its employees. Adhoc retirement benefits, if
any, to be given are not provided for in the accounts.
3) Balance of debtors, Loans & Advances and bank balances are subject
to confirmation and reconciliation. In the opinion of the Board, the
current Assets, Loans and advances are approximately of the value
stated, if realized in the ordinary course of business.
4) During the year some advances are found to be inoperative and
stagnant since long, hence the management is advised to take suitable
measures for the recovery or else necessary provision may be made for
the same.
5) There are no dues payable to small scale industrial undertakings in
view of the nature of the business of the company.
6) Suppliers covered under the Micro, small and medium enterprise have
not furnished the information regarding filling of necessary memorandum
with appointed authority. In view of this, the information required
under Schedule VI of the Companies Act, to that extent is not given.
7) Contingent liabilities not provided for contingencies which are
material and future outcome of which cannot be ascertained, with
reasonable certainty are treated as contingent liabilities. There are
no contingent liabilities as on 31st March, 2011.
Mar 31, 2010
1) The company has received the certificate of registration under
section 45(1 )A of the Reserve Bank of India Act, 1934 to commence the
business of Non Banking Finoncial Institution since 20/03/1998. The
company has been carrying on the business of NBFC and in terms of the
condition of the certificate it has not accepted Public Deposits.
2) In the opinion of the Management, the Provident Fund and ESI Act are
not applicable. Hence, no provisions or payment have been made for the
same as explained by the management, the company do not provide any
retirement benefits to its employees. Adhoc retirement benefits, if
any, to be given are not provided for in the accounts.
3) Balance of debtors. Loans & Advances and bank balances are subject
to confirmation and reconciliation. In the opinion of the Board, the
current Assets, Loans and advances are approximately of the value
stated, if realized in the ordinary course of business.
4) During the year some advances are found to be inoperative and
stagnant since long, hence the management is advised to take suitable
measures for the recovery or else necessary provision may be made for
the same.
5) There are no dues payable to small scale industrial undertakings in
view of the nature of the business of the company.
6) Suppliers covered under the Micro, small and medium enterprise have
not furnished the information regarding filling of necessary memorandum
with appointed authority. In view of this, the information required
under Schedule VI of the Companies Act, to that extent is not given.
7) Contingent liabilities not provided for contingencies which are
material and future outcome of which cannot be ascertained, with
reasonable certainty are treated as contingent liabilities. There are
no contigent liabilities as on 31st March, 2010.
8) Disclosurein respect of Global Venture
In terms of the Global Venture integrated as a Corporate Alliance, The
Company through the Canadian business House Viz. CONTIL CANADA LTD.
has embarked upon the development of commodity trading in global arena
and has subscribed 43.70% of the capital of the CONTIL CANADA LTD.
NAME : CONTIL CANADA LTD.
DESCRIPTION OF INTEREST : CORPORATEALLIANCE
DESCRIPTION OF JOB : TO DEVELOP A BUSINESS OF
COMMODITYTRADING
PROPORTION OF OWNERSHIP INTEREST : 43.70%
COUNTRY OF INCORPORATION : CANADA
Note: During the year, no income has been received or accrued from the
corporate alliance company.
Notes:
1. As defined in paragraph 2(i)(xii) of the Non-Banking Financial
Companies Acceptance of Public-Deposits (Reserve Bank) Directions,
1998.
2. Provisioning norms shall be applicable as prescribed in Non-Banking
Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms
(Reserve Bank) Directions, 2007.
3. All Accounting Standards and Guidance Notes issued by ICAI are
applicable including for valuation of investments and other assets as
also 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 in (4) above.
Notes:
1. The above cash flow statement has been prepared under the "Indirect
Method" set out in AS-3, issued by ICAI
2. Cash and Cash Equivalents represent Cash and bank Balances.
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