Mar 31, 2018
1. CORPORATE INFORMATION
INTELLIVATE CAPITAL ADVISORS LIMITED (âthe Company'') is a public limited company incorporated and domiciled in India and has its registered office at 66/1, Hansa Villa, Opp. Indian Gymkhana, Bhaudaji Cross Road, Matunga (C.R), Mumbai 400019. The Company has its primary listings on the Bombay Stock Exchange (BSE). These financial statements have been approved for issue by the Board of Directors at their meeting help on May 28,2018.
The Company is engaged in the business of providing Advisory & Consultancy Services.
2. BASISOF PREPARATION AND MEASUREMENT
i. STATEMENTOF COMPLIANCE WITH IND AS
The Company''s Financial Statement as at the end for the year ended March 31st ,2018 have been prepared in accordance with provisions of the Indian Accounting Standards(âInd ASâ) notified under the Companies (Indian Accounting Standards) Rules, 2015 and the Companies (Indian Accounting Standards) Amendments Rules, 2016.
For all the period upto and including the year ended March 31, 2017, the Company prepared its financial statements in accordance with the requirement of previous GAAP, which includes Accounting Standards notified under sections 133 of the CompaniesAct2013 read together with Companies(Accounting Standards) Rules, 2016. The date of transition to Ind AS is April 1, 2016. These financial statements for the year ended March 31, 2018 are Company''s first Ind AS financial statements. The disclosures relating to Ind AS 101, First-time adoption of Indian Accounting Standards have been given in Note No. 4.
All assets and liabilities are classified as current or non-current as per the company''s normal operating cycle and other criteria set out in Schedule III to the Companies Act, 2013. Based on the nature of products and the time between the acquisition of assets for processing and their realisation in cash and cash equivalents, the company has ascertained its operating cycle as 12 months for the purpose of current/non-current classification of assets and liabilities.
ii. ACCOUNTING CONVENTION AND BASIS OF MEASUREMENT
The Financial statements have been prepared on the Historical Cost Convention and on an accrual basis, except for certain financial assets and liabilities including defined benefit plans - plan assets measured at fair value.
iii. USEOF JUDGMENTS, ESTIMATESANDASSUMPTIONS
The preparation of financial statements in conformity with Ind AS requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amount of assets, liabilities, income and expenses and the disclosures of contingent liabilities and contingent assets. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on a periodic basis. Revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.
The area involving critical estimates and judgements are:
a. Useful lives of Property, plant and equipment and intangibles.
b. Measurement of defined benefit obligations.
c. Measurements and likelihood of occurrence if provisions and contingencies.
d. Recognition of deferred tax assets.
e. Impairment of Trade Receivables
3. Terms / Rights attached to the Equity Shares
The Company has only one class of Equity shares having a par value of Re. 1.00 per share (previous year Re. 1.00 per share) Each holder of the equity share is entitled to one vote per share. The company declares and pays dividend in Indian rupees. The dividend proposed by the board of directors is subject to the approval of the shareholders in the ensuing annual general meeting.
4. 30,55,481 Shares were alloted in the last 5 years pursuant to the Scheme of arrangement between Intellivete Capital Ventures Ltd, the demerged Company and Intellivate Capital Advisors Ltd, the First resulting Company and ICVL Chemicals Ltd, the Second resulting company and ICVL Steels Ltd, the Third resulting company and their respective shareholders became effective on 20th January, 2012.
(a) The transactions entered with the related parties are in ordinary course of business and on arms length basis of the cos.
(b) Related parties relationship is as identified by the management and relied upon by the auditor.
(c) No amounts in respect of related parties have been written off/written back, nor provision made for doubtful during the year.
Note 5. Figures of Previous year have been rearranged / regrouped as and when necessary in terms of Current year''s grouping.
Mar 31, 2015
Additional Disclosure 1(A) :
I) During the Financial year 2013-14 Equity shares of Rs. 10/- each
subdivided into 10 shares of Rs 1/- each with effect from 1/10/2013
accordingly total number of equity shares are 31,054,810
ii) 30,55,481 Shares were allotted in the last 5 years pursuant to the
Scheme of arrangement between Intelligent Capital Ventures Ltd, the
demerged Company and Indelicate Capital Advisors Ltd, the First
resulting Company and ICVL Chemicals Ltd, the Second resulting company
and ICVL Steels Ltd, the Third resulting company and their respective
shareholders became effective on20th January, 2012.
Note 1. (d) Rights, Preferences & Restrictions attach to equity shares
The Company has one class of Equity shares having par value of Rs 1/-
per Share ( Previous Year Rs.10/- 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 devid
end. In the event of liquidation, the Equity Shareholder are eligible
to receive the remaining assets of the company after distribution to
all preferential amounts, in proportion to their shareholding.
Corporate information
Intellivate Capital Advisors Limited (the Company) is a Public Company
and is incorporated under the provisions of The Companies Act,1956. The
company is engaged in the Business of Consultancy and Advisory
Services.
1. 'As regards compliance of Provision as per the requirement of Sec
22 of the Micro, Small and Medium enterprises act 2006 relating to dues
to the Micro, Small and Medium enterprises. The company has not
received from any parties claim to be small scale industries and the
said information is not given.
2. 'Segment Information
The company is pirating only in one segment.
17.15 Related party disclosures under Accounting Standard -18 List of
Related Parties where Control exists:
Samco Securities Limited (formerly- Samruddhi Stock Brokers Ltd)
Samco Ventures Private Limited
Samco Commodities Limited (formerly-Samruddhi Tradecom India Ltd)
Samruddhi Finstock Ltd
Bombay Exim Pvt Ltd
Jinal Finvest Pvt Ltd
Jimeet Developers Pvt Ltd
Ashwa Realty (India) Pvt Ltd
Galaxy Realty Pvt Ltd
Niralee Properties Pvt Ltd
High Rise Realty Pvt Ltd
Anish Properties Pvt Ltd
Saria Builders & Developers Pvt Ltd
Piyali Builders & developers Pvt Ltd
Rock Builders & Developers Pvt Ltd
Win Sure Trade Invest Private Limited
Hansa Villa Realty Private Limited
ICVL Steels Ltd
Intellivate Capital Ventures Ltd.
3. Retirement Benefits
'Long Term Employee Benefits are not provided because no employee has
completed full year of service.
4. Provision for Taxes
Provision for current tax has been made as per the provisions of the
Income Tax Act 1961.
5. 'In the opinion of Management, the Current Assets, Loans And
Advances are approximately of the value as stated if realized in the
ordinary course of business.
6. 'Balances standing to the debit/credit of parties is subject to
confirmation by them and reviews by the Company.
7. The figures of the previous year have been regrouped, rearranged
and reclassified wherever necessary to conform to current year's
classification.
Mar 31, 2014
1. Corporate information
Intellivate Capital Advisors Limited (the Company) is a Public Company
and is incorporated under the provisions of The Comapnies Act,1956. The
company is engaged in the Business of Consultancy and Advisory
Services.
2. Additional Disclosure 1(A):
i) During the financial year Equity shares of Rs. 10/- each subdivided
into 10 shares of Rs 1/- each with effect from 1/10/2013 accordingly
total number of equity shares are 3,10,54,810
ii) 30,55,481 Shares were alloted in the last 5 years persuant to the
Scheme of arrangement between Intellivete Capital Ventures Ltd, the
demerged Company and Intellivate Capital Advisors Ltd, the First
resulting Company and ICVL Chemicals Ltd, the Second resulting company
and ICVL Steels Ltd, the Third resulting company and their respective
shareholders became effective on 20th January, 2012.
Note 3. (d) Rights, Preferences & Restrictions attach to equity shares
The Company has one class of Equity shares having par value of Rs 1/-
per Share (Previous Year Rs.10/- 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 Annul General Meeting, except in case of interim devidend.
In the event of liquidation, the Equity Shareholder are eligible to
receive the remeining assest of the company after distribution to all
preferencial amounts, in proportion to their shareholding.
Mar 31, 2013
Note 1: Corporate information
Intellivate Capital Advisors Limited (the Company) is a Public Company
and is incorporated under the provisions of The Comapnies Act, 1956.
The company is engaged in the Business of Consultancy and Advisory
Services.
1.1 Retirement Benefits
Long Term Employee Benefits are not provided because no employee has
completed full year of service.
1.2 Provision for Taxes
Provision for current tax has been made as per the provisions of the
Income Tax Act 1961.
1.3 In the opinion of Management, the Current Assets, Loans and
Advances are approximately of the value as stated if realised in the
ordinary course of business.
1.4 Balances standing to the debit/credit of parties is subject to
confirmation by them and reviews by the Company.
1.5 The figures of the previous year have been regrouped, rearranged
and reclassified wherever necessary to conform to current year''s
classification. The figures are not comparible with those of previous
year due to demerger of ihe Advisory division, Chemical division and
Steel division of Intellivate Capital Ventures
Ltd.
1.6 The financial statements for the year ended March 31, 2013 are
prepared as per the Revised Schedule VI under the Companies Act,
1956.
Mar 31, 2012
Note 1: Corporate information
Intellivate Capital Advisors Limited (the Company) is a Public Company
and is incorporated under the provisions of The Comapnies Act,1956. The
company is engaged in the Business of Consultancy, Advisory .
2.1 In the opinion of Management, the Current Assets, Loans and
Advances are approximately of the value as stated if realised in the
ordinary course of business.
2.3 Balances standing to the debit/credit of parties is subject to
confirmation by them and reviews by the Company.
2.4 This is the First Accounting period of the company therefore previous
year figures are not given. The company was incorporated on 3rd March,
2011. Pursuant to the scheme of Arrangement U/s 391 to 394 and other
applicable provisions of the Companies Act,1956. There was demerger of
Advisory Division of the Intellivate Capital Ventures Limited with the
company. The scheme of arrangement is sanctioned and approved by the
Hon'ble High Court of judicature at Bombay on 16th December 2011, and
upon filing the said order with Registrar of Companies, with Maharashta
on 20th January,2012, the said scheme became effective.
Pursuant to the scheme of Arrangement U/s 391 to 394 and other
applicable provisions of the Companies Act,1956. There was demerger of
Advisory Division of the Intellivate Capital Ventures Limited with the
company. Accordingly Income & Expenses of the advisory division is
merged with the company.
2.5 The financial statements for the period ended March 31, 2012 are
prepared as per the Revised Schedule VI under the Companies Act,1956.