Mar 31, 2015
1 Corporate Information
The Company is incorporated in the year of 1993 under The Companies
Act, 1956. The Company is listed with Bombay Stock Exchange. The
Company provides broking platform on various exchanges to the clients
for dealing in various commodities traded on those exchanges in
present, spot and future dealings. The Company is a broking member of
Commodity Exchange viz. 'National Commodity And Derivatives Exchange
Limited' (NCDEX), 'Multi Commodity Exchange Of India Limited' (MCX) and
'National Spot Exchange Limited' (NSEL).
2. Rights, preferences and restrictions:
i The Company has only one class of shares referred to as equity shares
having par value of ' 10. Each holder of equity shares is entitled to
one vote per share.
ii. In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive any of the remaining assets of the
Company, after distribution of all preferential amounts. The
distribution will be in proportion to the number of equity shares held
by the shareholders.
3. Contingent Liabilities and Commitments:
Contingent Liabilities:
As at As at
Particulars March 31, 2015 March 31, 2014
I. Bank Guarantees with 2,82,50,000/- 3,32,50,000/-
Stock Exchange
II. Outstanding Demand
from IT Department
A.Y. 2005-06 38,169 NIL
A.Y. 2009-10 1,85,570 NIL
Total 2,84,73,739/- 3,32,50,000/-
4. Commitments:
I. Related to Contracts: Nil
II. Other Commitments: Interest on vehicle loan of Rs. 24,404/-
5. Related Party Disclosures
As per Accounting Standard 18, disclosures of transactions with the
related parties as defined in Accounting Standard are given below:
(A) Relationships:
(a) Associates:
Jhaveri Hightech Agro Limited.
Maulik Kruti Resources Limited
(b) Key Management Personnel
Mr. Rajesh J. Jhaveri - Managing Director
Mr. Kamlesh J. Jhaveri - Whole-time Director
Mr. Vatsal Desai - Chief Financial Officer (From 27/03/2015)
Mr. Chintan Vakil - Company Secretary (From 01/11/2014)
Mr. Rahul S. Mandlik - Chief Financial Officer (From 01/11/2014 to
07/02/2015)
Mrs. Richa Prashar - Company Secretary (from 06/09/2008 to
01/07/2014)
(c) Relatives of key management personnel and their enterprise where
transactions have taken place
Name Relationship
J. B. Jhaveri HUF Karta is a Director of the Company
Mrs. S. J. Jhaveri Relative of Director
K. J. Jhaveri HUF Karta is a Director of the Company
Parth Jhaveri Relative of Director
Jeet B. Jhaveri Relative of Director
Yash B. Jhaveri Relative of Director
Kruti .R.Jhaveri Relative of Director
Maulik .R. Jhaveri Relative of Director
Bela Jhaveri Relative of Director
Karan Jhaveri Relative of Director
Jhaveri Dairy Farm Partner is a Director of the Company
Jhaveri Organic Farm Partner is a Director of the Company
Note: Related party relationship is as identified by the company and
relied upon by the Auditors.
6. The outstanding balances of Debtors, Creditors, Deposits and Loans &
Advances are subject to confirmation.
7. To fall in line with Schedule II of the amended Companies Act, 2013
on Depreciation of Fixed Assets, the Company has written off the Fixed
Assets whose useful life has been completed.
8. In the opinion of the Board:
a. All current assets, loans and advances have value at least equal to
the amount at which they are stated in the accounts.
b. All known liabilities have been provided for and there is no
liability, contingent or otherwise, is stated in the accounts.
9. The Previous year's figures have been regrouped, reworked,
rearranged, and reclassified whenever necessary. Amounts and other
disclosures for the preceding year are included an integral part of the
current year financial statement and are to be read in relation to the
amounts and other disclosers relating to the current year.
Mar 31, 2014
NOTE: 1 Corporate Information
The Company is incorporated in the year of 1993 under The Companies
Act, 1956. The company is listed with Bombay Stock Exchange. The
Company provides broking platform on various exchanges to the clients
for dealing in various commodities traded on those exchanges in
present, spot and future dealings. The Company is a broking member of
Commodity Exchange viz. ''National Commodity And Derivatives Exchange
Limited'' (NCDEX), ''Multi Commodity Exchange Of India Limited (MCX) and
''National Spot Exchange Limited'' (NSEL). The Company is able to its
brand name in the eyes of the clients and exchanges.
NOTE 2 Rights, prefrences and restrictions:
i. The Company has only one class of shares referred to as equity
shares having par value of 10. Each holder of equity shares is entitled
to one vote per share.
ii. In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive any of the remaining assets of the
Company, after distribution of all preferential amounts. The
distribution will be in proportion to the number of equity shares held
by the shareholders.
NOTE 3 Contingent Liabilities and Commitments:
3.1 Contingent Liabilities:
Particulars As at March As at March
31,2014 31,2013
l. Matters under disputes / appeals:
a. Income Tax [Amount deposited
Rs. 1,00,000/-] NIL 3,95,960/-
II. Bank Guarantees 3,32,50,000/- 5,00,00,000/-
Total 3,32,50,000/- 5,03,95,960/-
3.2 Commitments:
I. Related to Contracts: Nil
II. Other Commitments: Interest on vehicle loan of Rs. 42,094/-
NOTE 4 Related Party Disclosures
As per Accounting Standard 18, disclosures of transactions with the
related parties as defined in Accounting Standard are given below:
(A) Relationships:
(a) Associates:
JhaveriHightech Agro Limited.
Jhaveri Securities Limited.
ConnoisseurTechno Solutions Private Limited
(b) Key Management Personnel
Mr. Rajesh J. Jhaveri
Mr. Kamlesh J. Jhaveri
(c) Relatives of key management personnel and their enterprise where
transactions have taken place:
Name Relationship
J. B. Jhaveri HUF Karta is a Director of the Company
S. J. Jhaveri Relative of Director
K. J. Jhaveri HUF Karta is a Director of the Company
ParthJhaveri Relative of Director
Jeet B. Jhaveri Relative of Director
Yash B. Jhaveri Relative of Director
Kruti .R.Jhaveri Relative of Director
Maulik .R. Jhaveri Relative of Director
BelaJhaveri Relative of Director
Karan Jhaveri Relative of Director
Jhaveri Dairy Farm Partner is a Director of the Company
Jhaveri Organic Farm Partner is a Director of the Company
Note: Related party relationship is as identified by the company and
relied upon by the Auditors.
NOTE 5 The outstanding balances of Debtors, Creditors, Deposits an
Loans & Advances are subject to confirmation.
NOTE 6 In compliance of AS 28 on Impairment of Assets issued by
Institute of Chartered Accountants of India the Company has carried out
impairment review of its assets. Loss on impairment of assets charged
to the P & L. A/c is Rs: NIL (previous year Rs. Nil)
NOTE 7
In the opinion of the Board:
a. All current assets, loans and advances have value at least equal to
the amount at which they are stated in the accounts.
B. All known liabilities have been provided for and there is no
liability, contingent or otherwise, is stated in the accounts.
NOTE 8
The Previous year''s figures have been regrouped, reworked, rearranged,
and reclassified whenever necessary. Amounts and other disclosures for
the preceding year are included an integral part of the current year
financial statement and are to be read in relation to the amounts and
other disclosers relating to the current year.
Mar 31, 2013
NOTE:- 1 Corporate Information
The Company is incorporated in the year of 1993 under The Companies
Act, 1956. The company is listed with Bombay Stock Exchange. The
Company provides broking platform on various exchanges to the clients
for dealing in various commodities traded on those exchanges in
present, spot and future dealings. The Company is a broking member of
Commodity Exchange viz. ''National Commodity And Derivatives Exchange
Limited'' (NCDEX), ''Multi Commodity Exchange Of India Limited'' (MCX) and
''National Spot Exchange Limited'' (NSEL). The Company is able to its
brand name in the eyes of the clients and exchanges.
NOTE 2 Contingent Liabilities and Commitments:
2.1 Contingent Liabilities:
Particulars As at March 31,2013 As at March 31,2012
I. Matters under
disputes / appeals:
3,95,960 3,95,960
a. Income Tax [Amount
deposited Rs. 1,00,000/
II. Bank Guarantees 5,00,00,000 6,65,00,000
Total 5,03,95,960 6,68,95,960
* In the case of the company, assessment proceedings u/s 143(3) has
been completed for the A.Y. 2009-10 wherein tax demand of Rs.
3,95,960/- is raised. The company has paid Rs. 1,00,000/- against the
same and has filed an appeal with the Hon''ble CIT (A), Baroda against
the order u/s 143(3). Considering the decisions of Hon''ble courts,
tribunals and related provisions of the Income Tax Act, the company has
been legally advised that the demand will either be deleted or will be
reduced by the substantial amount. Hence no provision is made for the
balance outstanding of Rs. 2,95,960/- which is of contingent nature in
view of the company.
2.2 Commitments:
I. Related to Contracts: Nil
II. Other Commitments: Nil
NOTE 3 Related Party Disclosures
As per Accounting Standard 18, disclosures of transactions with the
related parties as defined in Accounting Standard are given below:
(A) Relationships:
(a) Associates:
Maulik Kruti Resources Limited.
Jhaveri Hightech Agro Limited.
Jhaveri Securities Limited.
Connoisseur Techno Solutions Private Limited Jhaveri Infrastructure
Private Limited
(b) Key Management Personnel Mr. Rajesh J. Jhaveri
Mr. Kamlesh J. Jhaveri
(c) Relatives of key management personnel and their enterprise where
transactions have taken place:
Name Relation
J. B. Jhaveri HUF Karta is a Director of the Company
Mrs. S. J. Jhaveri Relative of Director
R. J. Jhaveri HUF Karta is a Director of the Company
K. J. Jhaveri HUF Karta is a Director of the Company
Parth Jhaveri Relative of Director
Jeet B. Jhaveri Relative of Director
Yash B. Jhaveri Relative of Director
Kruti .R.Jhaveri Relative of Director
Maulik .R. Jhaveri Relative of Director
Jhaveri Dairy Farm Partner is a Director of the Company
Jhaveri Organic Farm Partner is a Director of the Company
Note: Related party relationship is as identified by the company and
relied upon by the Auditors.
NOTE 4
The outstanding balances of Debtors, Creditors, Deposits and Loans &
Advances are subject to confirmation.
NOTE 5
In compliance of AS 28 on Impairment of Assets issued by Institute of
Chartered Accountants of India the Company has carried out impairment
review of its assets. Loss on impairment of assets charged to the P &
L. A/c is Rs: NIL (previous year Rs. Nil)
NOTE 6
There are no registered small scale undertaking in the list of
creditors, hence no information is given with reference to the
notification no GSR 129 (E) dated 22.02.99 issued by the Department of
company Affairs, Ministry of Law, Justice and Company Affairs.
NOTE 7
In the opinion of the Board:
a. All current assets, loans and advances have value at least equal to
the amount at which they are stated in the accounts.
b. All known liabilities have been provided for and there is no
liability, contingent or otherwise, is stated in the accounts.
NOTE 8
The Previous year''s figures have been regrouped, reworked, rearranged,
and reclassified whenever necessary. Amounts and other disclosures for
the preceding year are included an integral part of the current year
financial statement and are to be read in relation to the amounts and
other disclosers relating to the current year.
Mar 31, 2011
1. The Previous year's figures have been regrouped, reworked,
rearranged, and reclassified whenever necessary. Amounts and other
disclosures for the preceding year are included an integral part of the
current year financial statement and are to be read in relation to the
amounts and other disc losers relating to the current year.
2. The outstanding balances of Debtors, Creditor Deposits and Loans &
Advances are subject to confirmation.
3. In compliance of AS 28 on Impairment of Assets issued by Institute
of Chartered Accountants of India the Company has carried out
Impairment review of its assets. Loss on impairment of assets charged
to the P & L. A/c is Rs: NIL (previous year Rs. Nil)
4. Related Party Disclosures:
As per Accounting Standard 18, disclosures of transactions with the
related parties as defined In Accounting Standard are given below:
(A) Relationships:
(a) Associates:
Maulik Kruti Resources Ltd,
Jhaveri Hightech Agra Ltd.
Jhaveri Fiscal Services Pvt. Ltd.
Jhaveri Infrastructure Pvt, Ltd.
Jhaveil Security Ltd.
Karan Jeet Resources Pvt. Ltd.
(b) Key Management Personnel
Mr, Rajesh J. Jhaveri
Mr. Kamlesh J. Jhaveri
(c) Relatives or' key management personnel and their enterprise where
transactions have taken place:
Name Relationship
J, B. Jhaveri HUF Karta is a Director of the Company
Mrs. S. J. Jhaveri Relative of Director
R. J. Jhaveri HUF Karta is a Director of the Company
K. J, Jhaveri HUF Karta is a Director of the Company
Parth Jhaveri Relative of Director
Jeet B. Jhaveri Relative of Director
Yash B. Jhaveri Relative of Director
Knuti ,RJhaveri Relative of Director
Maulik ,R. Jhaveri Relative of Director
Nate: Related party relationship is as identified by the company and
relied upon by the Auditors.
5. The Company Is not a Manufacturing Company and hence information
under Items 4C & 40 of Part 11 of Schedule VI OF the Companies Act,
1956 is not applicable.
6. There are no registered small scale undertaking in the list of
creditors, hence no information Is given with reference to the
notification no GSR 129 (E) dated 22.02.99 issued by the Department of
company Affairs, Ministry of Law, Justice and Company Affairs.
7. In the opinion of the Board:
a. All current assets, loans and advances have value at least equal to
the amount at which they are stated in the accounts.
b. All known liabilities have been provided for and there is no
liability, contingent or otherwise, Is stated In the accounts.
Mar 31, 2010
1. The Previous years figures have been regrouped, reworked,
rearranged, and reclassified whenever necessary. Amounts and other
disclosures for the preceding year are included an integral part of the
current year financial statement and are to be read in relation to the
amounts and other disclosers relating to the current year.
2. The outstanding balances of Debtors, Creditors, Deposits and Loans
& Advances are subject to confirmation.
3. In compliance of AS 28 on Impairment of Assets issued by Institute
of Chartered Accountants of India the Company has carried out
impairment review of its assets. Loss on impairment of assets charged
to the P & L. A/c is Rs: NIL (previous year Rs. Nil )
4. Related Party Disclosures:
As per Accounting Standard 18, disclosures of transactions with the
related parties as defined in Accounting Standard are given below:
(A) Relationships:
(a) Associates:
Maulik Kruti Resources Ltd.
Jhaveri Hightech Agro Ltd.
Jhaveri Fiscal Services Pvt. Ltd.
Jhaveri Infrastructure Pvt. Ltd.
Jhaveri Security Ltd.
Karan Jeet Ressources Pvt. Ltd.
(b) Key Management Personnel
Mr. Rajesh J. Jhaveri
Mr. Kamlesh J. Jhaveri
(c) Relatives of key management personnel and their enterprise where
transactions have taken place:
Name Relationship
M/s J. B. Jhaveri Directors Proprietorship Concern
J. B. Jhaveri HUF Directors HUF
Mrs. S. J. Jhaveri Relative of Director
Mrs. B. R. Jhaveri Relative of director
Mrs. S. B. Jhaveri Relative of director
R. J. Jhaveri HUF Directors HUF
Parth Jhaveri Relative of Director
Karan Jhaveri Relative of Director
Jeet B. Jhaveri Relative of Director
Yash B. Jhaveri Relative of Director
Kruti .R.Jhaveri Relative of Director
Maulik .R. Jhaveri Relative of Director
Note : Related party relationship is as identified by the company and
relied upon by the Auditors.
5. The Company is not a Manufacturing Company and hence information
under items 4C & 4D of Part II of Schedule VI the Companies Act, 1956
is not applicable.
6. There are no registered small scale undertaking in the list of
creditors, hence no information is give with reference to the
notification no GSR 129 (E) dated 22.02.99 issued by the Department of
company Affairs, Ministry of Law, Justice and Company Affairs.
7. In the opinion of the Board:
a. All current assets, loans and advances have value at least equal to
the amount at which they are stated in the accounts.
b. All known liabilities have been provided for and there is no
liability, contingent or otherwise, is stated in the accounts.
Mar 31, 2009
1. Related Party Disclosures
Disclosures of relationship and transactions with the related parties
as required by Accounting Standard 18 issued by the institute of
Chartered Accountants of India are given below.
1) Relationships:
(a) Subsidiary of the Company. Maulik Kruti Resources Ltd. Jhaveri
Hightech Agra Ltd.
(b) Associate:
Jhaveri Fiscal Services Pvt. Ltd. Jhaveri infrastructure Pvt. Ltd.
Jhaveri Security Pvt. Ltd. Karan Jeet Resources Pvt. Ltd.
(c) Related parties where control exists: Jhaveri Credits & Capital
Limited
(d) Key Management Personnel: Mr. R. J. Jhaveri
(e) Relatives of key management personnel and their enterprise where
transactions have taken place:
Name Relationship
S. K. Jhaveri Relative of Director
S. B. Jhaveri Relative of Director
S. J. Jhaveri Relative of Director
M/s J. B. Jhaveri Directors Proprietorship Concern
R. J. Jhaveri HUF Directors HUF
Parth Jhaveri Relative of Director
J. B. Jhaveri HUF Directors HUF
B. R. Jhaveri Relative of director
Note: Related party relationship is as identified by the company and
reiied upon by the Auditors.
2. The Company is not a Manufacturing Company and hence information
under items 4C & 4D of Part II of Schedule V! the Companies Act, 1956
is not applicable.
3. PreviousO years figures have been regrouped and rearranged,
wherever necessary.
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