Mar 31, 2014
1.1 Capital Advances include an amount of Rs.13,036,319/- paid to M/s.
Mantri Developers for purchase of flat at Banglore.
1.2 Other Deposit includes deposits paid towards amenities i.e.
Electricity, Telephone etc.
2.1 Provident fund for eligible employees is managed by the company in
line with the Provident Fund and Miscellaneous Act, 1952. The plan
guarantees interest at the rate notified by the Provident Fund
Authorities. The contribution by the employer and employee together
with the interest accumulated thereon are payable to employees at the
time of their seperation from the company or Retierment which ever is
earlier.
Sundry Debtors, Loans and Advances and Creditors are subject to
confirmation and reconciliation
The company does not have whole time Company Secretary, as per
requirements of Section 383A of the Companies Act, 1956.Hence, the
accounts have not been signed by the company Secretary.
In the opinion of the Board of Directors, Current Assets and Loans and
Advances have the value at which these are stated in the Balance Sheet,
if, realized in the ordinary course of business, unless otherwise
stated and adequate provisions of all known liabilities have been made
and are not in excess of the amount reasonably required
The accounting policies adopted for segment reporting are in conformity
with the accounting policies adopted for the company.
The turnover of Depositary Participant Segment is less than 10% of
total turnover; hence there is no reportable segment as per Accounting
Standard  17 issued by the Institute of Chartered Accountants of
India.
The company operates in only one segment i.e. ''India''. Hence separate
information on geographical segment is not required.
Figures in brackets in these notes are in respect of previous year.
Mar 31, 2013
1. General Information :
Inani securities limited a company incorporated in the year 1994 under
companies act 1956, is listed on Bombay stock exchange.The company
commenced its operations as an independent provider of information
analysis and research covering Indian businesses, financial markets and
economy to institutional clients. Over a period Inani Securities Ltd
expanded its services offerings in the financial services space
offering equity/ currency in NSE/BSE and MCX-SX, depository participant
services, portfolio management services and distribution of mutual
funds, bonds etc., The Company has its presence in the states of Andhra
Pradesh and Maharashtra. The Company is one of the oldest and reliable
players in the Indian Financial service space.
1.1 During the year there was no fresh issue of equity shares, hence
balance at the begining of the year and at the end of the year remains
the same i.e. 50,21,900 shares.
1.2 Details of shares held by shareholders holding more than 5% of the
aggregate shares in the company.
2.1 The Company has obtained a term loan of Rs. 12,20,000/- from M/s.
Alphera financial Services for purchase of motor car for use of
directors, it is secured against mortagage of motor car which is
repayable in 36 months with 10.01 % of ROI
2.2 The Company has obtained a term loan of Rs. 81.64 Lac from ICICI
Bank for purchase of office at Bangalore, it is secured by mortagage of
office which is repayable in 120 months with 10.75% as ROI., As the
office was sold during the year the Bank loan was repaid and account
was closed
2.3 Deposits includes deposits received from clients as security
deposits for their trades.
3.1 Working capital loan from HDFC bank is secured aganist pledge of
equity shares belonging to the directors, relatives & associated
concerns and aganist mortagage of FDR worth Rs. 2.30 Crores.
4.1 As confirmed by the management, there are no dues above Rs. 1.00
Lakh outstanding for more than 45 days to Micro and Small Scale
Undertakings.
5.1 Other Payable includes Statutory Dues and outstanding Liabilities
6.1 HDFC Short Term Mutual Funds amounting to Rs. 50,00,000/- has been
mortagaged in HDFC bank for obtaining the cash credit limits and the
NAV of these mutual funds as on 31/03/2013 is Rs. 65.49/- Lakhs.
7.1 Capital Advances include an amount of Rs.49,88,379/- paid to M/s.
Mantri Developers for purchase of office at Banglore.
7.2 Other Deposit includes deposits paid towards aminities i.e.
Electricity, Telephone etc.
8.1 Held as lien by banks aganist bank guarantees and Deposits with
Banks''Includes deposits of Rs. 170.74 Lakhs (Previous year Rs. 403.95
Lakhs) with maturity of more than 12 months.
9.1 Other Advances include advances to Y. Ashwin amounting to Rs.
1,08,99,715/- which is overdue and the case is pending in the Court for
recovery of the same.
10.1 Other Non Operating Income includes income from Rent and
Commission received
11.1 Provident fund for eligible employees is managed by the company in
line with the Provident Fund and Miscellaneous Act, 1952. The plan
guarantees interest at the rate notified by the Provident Fund
Authorities. The contribution by the employer and employee together
with the interest accumulated thereon are payable to employees at the
time of their seperation from the company or Retierment which ever is
earlier.
I. Sundry Debtors, Loans and Advances and Creditors are subject to
confirmation and reconciliation.
II. The company does not have whole time Company Secretary, as per
requirements of Section 383A of the Companies Act, 1956.Hence, the
accounts have not been signed by the company Secretary.
III. In the opinion of the Board of Directors, Current Assets and Loans
and Advances have the value at which these are stated in the Balance
Sheet, if, realized in the ordinary course of business, unless
otherwise stated and adequate provisions of all known liabilities have
been made and are not in excess of the amount reasonably required
IV. The accounting policies adopted for segment reporting are in
conformity with the accounting policies adopted for the company.
The turnover of Depository Participant Segment is less than 10% of
total turnover; hence there is no reportable segment as per Accounting
Standard -17 issued by the Institute of Chartered Accountants of India.
The company operates in only one segment i.e. ''India''. Hence separate
information on geographical segment is not required.
V. Figures in brackets in these notes are in respect of previous
year.
Mar 31, 2012
I. General Information :
Inani securities limited a company incorporated under companies act
1956, is listed on Bombay stock exchange, The company is a member of
National Stock exchange, Bombay Stock exchange, MCX Stock Exchange and
also depository Participant with CDSL the main activity of company is
to deal in shares and securities, and provide DP services to its
clients. The company has its presence in the states of Andhra Pradesh
and Maharashtra. The Company is engaged in Stock broking &
Depositary Participant Segments. The other activities such as Trading
in Securities, DP services are incidental to Stock Broking activity.
1.1 During the year there was no fresh issue of equity shares, hence
balance at the begining of the year and at the end of the year remains
the same i.e. 50,21,900/- shares.
2.1 The Company has obtained a term loan of Rs. 12,20,000/- from M/s.
Alphera financial Services for purchase of motor car for use of
directors, it is secured against mortgage of motor car which is
repayable in 36 months with 10.01% of ROI
2.2 The Company has obtained a term loan of Rs. 81.64 Lac from ICICI
Bank for purchase of office at Bangalore, it is secured by mortgage of
flat which is repayable in 120 months with 10.75% as ROI
3.1 Working capital loan from HDFC bank is secured against pledge of
equity shares belonging to the directors, relatives & associated
concerns and against mortgage of FDR worth Rs. 2.00 Crores.
3.2 Deposits includes deposits received from clients as security
deposits for their trades.
4.1 As confirmed by the management, there are no dues above Rs. 1.00
Lakh outstanding for more than 45 days to Micro and Small Scale
Undertakings.
5. Other Payable includes Statutory Dues and outstanding Liabilities
6. HDFC Short Term Mutual Funds amounting to Rs. 50,00,000/- has been
mortgaged in HDFC bank for obtaining the cash credit limits and the
NAV of these mutual funds as on 31/03/2012 is Rs. 65.49/- Lakhs.
7. Capital Advances include an amount of Rs.10,098,772 paid to M/s.
Mantri Developers for purchase of office at Banglore.
8. Other Deposit includes deposits paid towards amenities i.e.
Electricity, Telephone etc.
9. Held as lien by banks against bank guarantees and Deposits with
Banks Includes deposits of Rs. 403.95 Lakhs (Previous year Rs. 437.33
Lakhs) with maturity of more than 12 months.
10. Other Advances include advances to Y. Ashwin amounting to Rs.
10,899,715 which is overdue and the case is pending in the court for
recovery of the same.
11. Other Non Operating Income includes income from Rent and Bad
Debits Recovered
12. Provident fund for eligible employees is managed by the company in
line with the Provident Fund and Miscellaneous Act, 1952. The plan
guarantees interest at the rate notified by the Provident Fund
Authorities. The contribution by the employer and employee together
with the interest accumulated thereon are payable to employees at the
time of their separation from the company or retirement which ever is
earlier.
13. NOTES ON ACCOUNTS : 31/03/2012 31/03/2011
i) Contingent Liabilities :
a) Uncalled Liability on account of
10000 partly paid right shares of
HSE Securities limited NIL Rs. 75,000/-
b) Not provided for Bank Guarantee
issued by the Banks. Rs. 393.00 Lacs Rs. 418.00 Lacs
ii. Sundry Debtors, Loans and Advances and Creditors are subject to
confirmation and reconciliation.
iii. In the opinion of the Board of Directors, Current Assets and Loans
and Advances have the value at which these are stated in the Balance
Sheet, if, realized in the ordinary course of business, unless
otherwise stated and adequate provisions of all known liabilities have
been made and are not in excess of the amount reasonably required
iv. The accounting policies adopted for segment reporting are in
conformity with the accounting policies adopted for the company.
The turnover of Depositary Participant Segment is less than 10% of
total turnover; hence there is no reportable segment as per Accounting
Standard - 17 issued by the Institute of Chartered Accountants of
India.
The company operates in only one segment i.e. 'India'. Hence separate
information on geographical segment is not required.
v. Figures in brackets in these notes are in respect of previous
year.
vi. The financial statements for the year ended March 31, 2011 had
been prepared as per the applicable, pre-revised Schedule VI to the
Companies Act, 1956. Consequent to the notification of Revised Schedule
VI under the Companies Act, 1956, the financial statements for the year
ended March 31,2012 are prepared as per Revised Schedule VI.
Accordingly, the previous year figures have also been reclassified to
conform to this years classification. The adoption of Revised
Schedule VI for previous year figures does not impact recognition and
measurement principles followed for preparation of financial
statements.
Mar 31, 2011
31/03/2011 31/03/2010
1) Contingent Liabilities :
a) Uncalled Laiability on account of
10000 partly paid right shares of
HSE Securities limited 75000 NIL
b) Not provided for Bank Guarantees
issued by the Banks. 418 Lacs 451 Lacs
2) Secured Loans
Loan from HDFC Bank is secured against pledge of equity shares
belonging to the Directors, Relatives & Group Company and against
mortgage of FDR worth Rs.2 Crores.
Loan from TMB Ltd. is secured by way of pledge of FDR worth Rs.50 Lacs.
3) Sundry Debtors, Loans and Advances and Creditors are subject to
Confirmation and reconciliation.
4) in the opinion of the Board of Directors, Current Assets and loans
and Advances have the value at which these are stated in the Balance
Sheet, if, realized in the ordinary course of business, unless
otherwise stated and adequate provisions of all known liabilities have
been made and are not in excess of the amount reasonably required.
5) As confirmed by the management, there are no dues above Rs. 1.00
Lakh outstanding for more than 45 days to Micro and Small Scale
Undertakings.
6) Cash and Bank balance includes Rs. 66,012/- for unclaimed dividend
declared in the year 2007-08.
7) The Company is engaged in Stock broking & Depositary Participant
Segments. The other activities such as Trading in Securities,
Investment banking are incidental to Stock Broking activity.
8) The turnover of Depository Participant Segmeent is less than 10% of
total turnover: hence there is no reportable segment as per Accounting
Standard -17 issued by the Institute of Chartered Accountants of india.
9) The company operates in only one Country i.e. India,. Hence
separate information on geographical segment is not required. The
accounting policies adopted for segment reporting are in line with the
accounting policies adopted for preparation of financial information of
the Company.
10) Related Party Disclosure as per Accounting Standard -18:
(The information is given as compiled and certified by the management).
Sl.No Associate Concerns
1 M/s. INANI COMMODITIES & FINANCE LIMITED
Key Management Personnel
1 Sri. LAKSHMIKANTH INANI
2 Sri. RAMAKANTH INANI
3 Sri. VISHNUKANTH INANI
Relatives of Key Management Personnel
1 Mrs. ANITA INANI
2 Mrs. CHAMPA DEVI INANI
11. Value of Imports on CIF Basis NIL NIL
12. Expenditure in Foreign Currency NIL NIL
13. Earnings in Foreign Currency NIL NIL
14. Figures in brackets in these notes are in respect of previous
year.
15. Figures of previous have been regrouped/rearranged/reclassified,
wherever considered necessary to confirm to current years presentation.
Mar 31, 2010
1) Contingent Liabilities not provided for in respect of: Bank
Guarantees issued by the Banks
Rs.451.00 Lacs Rs. 428.00 Lacs
2) Secured Loans:
a) Loan from HDFC Bank is secured against pledge of equity shares
belonging to the Directors, Relatives & Group Company.
3) In the opinion of the Board of Directors, Current Assets and loans
and Advances have the value at which these are stated in the Balance
Sheet, if, realized in the ordinary course of business, unless
otherwise stated and adequate provisions of all known liabilities have
been made and are not in excess of the amount reasonably required.
4) As confirmed by the management, there are no dues above Rs. 1.00
Lakh outstanding for more than 45 days to Micro and Small Scale
Undertakings.
5) Cash and Bank balance includes Rs.66,012/- for unclaimed dividend
declared in the year 2007-08
6) The Company is engaged in Stock broking & Depositary Participant
Segments. The other activities such as Trading in Securities,
Investment banking are incidental to
Stock Broking activity.
7) The turnover of Depository Participant Segmeent is less than 10% of
total turnover:
hence there is no reportable segment as per Accounting Standard -17
issued by the Institute of Chartered Accountants of india.
8) The company operates in only one segement i.e. India,. Hence
separate information on geographical segment is not required. The
accounting policies adopted for segment reporting are in line with the
accounting policies adopted for repafation of financial information of
the Company.
9) Deferred Tax comprises of the following:
10) Related Party Disclosure as per Accounting Standard -18: (The
information is given as compiled and certified by the management).
Sl.No Associate Concerns
1 M/s. INANI COMMODITIES & FINANCE LIMITED
Directors/Key Management Personnel
1 Sri. LAKSHMIKANTH INANI
2 Sri. RAMKANTH INANI
3 Sri. VISHNUKANTH INANI
Relatives of Key Management Personnel
1 ANITA INANI
2 CHAMPA DEVI INANI