Mar 31, 2015
A. Basis of Accounting:
These financial statements are prepared in accordance with Indian
Generally Accepted Accounting Principles (GAAP) under the historical
cost convention on the accrual basis except for certain financial
instruments which are measured at fair values. GAAP comprises mandatory
accounting standards as prescribed under Section 133 of the Companies
Act , 2013 (''Act'') read with Rule 7 of the Companies (Accounts) Rules,
2014, the provisions of the Act (to the extent notified).Accounting
policies have been consistently applied except where a newly issued
accounting standard is initially adopted or a revision to an existing
accounting standard requires a change in the accounting policy hitherto
in use.
b. Use of estimates
The preparation of the financial statements, in conformity with the
generally accepted accounting principles, requires estimates and
assumptions to be made which affect the reported amounts of assets and
liabilities on the date of the financial statements and the reported
amounts of revenues and expenses during the reporting period.
Differences between actual results and estimates are recognized in the
period in which the results are known/ materialized.
c. Investments
i) Current Investments: Current investments are valued at the lower of
cost arrived on weighted average basis or fair value.
ii) Non Current Investments: A provision is made for diminution other
than temporary in nature. These are intended to be held for a period of
more than one year from the date of the investment and are valued at
cost. The cost is determined on weighted average method basis.
d. Fixed Assets and Depreciation:
(i) Tangible Fixed Assets:
Tangible Fixed Assets are stated at cost, net of accumulated
depreciation and accumulated impairment losses, if any. The cost
comprises of purchase price, borrowing cost of capitalization and
directly attributable cost of bringing the asset to its working
condition for the intended use. Any trade discounts and rebates are
deducted in arriving at the purchase price.
Depreciation is provided under the written down value method, at the
rates and in the manner prescribed under Schedule II of the Companies
Act, 2013.
(ii) Intangible Fixed Assets:
Intangible Fixed Assets are measured on initial recognition at cost.
The cost of intangible assets acquired in an amalgamation in the nature
of purchase is their fair value as at the date of amalgamation.
Following initial recognition, intangible assets are recognized at cost
less accumulated amortization. Intangible assets are amortized
systematically on straight line basis over its useful life of 3 years.
e. Taxation:
Tax expense comprises of current and deferred tax. Current Income-tax
is measured at the amount expected to be paid to the tax authorities in
accordance with the Income-tax Act, 1961 enacted in India and tax laws
prevailing in the respective tax jurisdictions where the company
operates. The tax rates and tax laws used to compute the amount are
those that are enacted or substantively enacted, at the reporting date.
Deferred income taxes reflect the impact of timing differences between
taxable income and accounting income originating during the current
year and reversal of timing differences for the earlier years. Deferred
tax is measured using the tax rates and the tax laws enacted or
substantively enacted at the reporting date.
Deferred tax liabilities are recognized for all taxable timing
differences. Deferred tax assets are recognized for deductible timing
differences only to the extent that there is reasonable certainty that
sufficient future taxable income will be available against which such
deferred tax assets can be realized.
f. Revenue Recognition:
Revenue from Professional fees & Consultancy charges, Income from
Brokerage & interest on loans and Inter Corporate Deposits and lease
rent are recognized as and when there is reasonable certainty of its
ultimate realization and on completion of the assignment.
Non Performing Assets:
Income is not recognized in respect of Non Performing Assets, if any,
as per guidelines for prudential norms prescribed by Reserve bank of
India. (RBI)
Dividend:
Dividend Income is recognized when the Company''s right to receive is
established by the reporting date.
g. Foreign Currency Transactions
Transactions in Foreign Currencies are recorded at the exchange rate
prevailing on the date of transactions.
Foreign currency denominated monetary assets & liabilities outstanding
at the year end are translated at the year end exchange rate and
unrealized exchange gain or loss is recognized in the Statement of
Profit and Loss.
Realized exchange gain/loss on foreign transactions during the year is
recognized in the Statement of Profit and Loss.
h. Derivative Transactions:
In accordance with the ICAI announcement, derivatives contract are
marked to market on a portfolio basis, and the loss if any, after
considering the offsetting effect of gain on the underlying hedged
item, is charged to the Statement of Profit & Loss.
i. Stock in Trade:
Stocks of shares are valued at the lower of cost arrived on weighted
average basis or fair value.
j. Employee Benefits:
i) Short term employee benefits are charged off at the undiscounted
amount in the year in which the related service is rendered.
ii) The Company is exempted from Payment of Gratuity Act, 1972 in view
of its strength of employees being less than threshold limit attracting
the applicability of the said statute and as such no provision has been
made for the said liability.
iii) Leave Encashment is not provided for on actuarial basis in view of
the employees being less than 10 and the same is charged on actual
basis.
k. Provisions, Contingent Liabilities & Contingent Assets:
Provisions involving substantial degree of estimation in measurement
are recognized when there is present obligation as a result of past
event and it is probable that there will be outflow of resources.
Contingent liabilities are not recognized but are disclosed in the
notes. Contingent assets are neither recognized nor disclosed in the
financial statements. Provisions, Contingent Liabilities and Contingent
Assets are reviewed at each Balance Sheet date.
l. Earnings per Share:
Basic Earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders (after
deducting preference dividends and attributable taxes) by the Weighted
Average Number of equity shares outstanding during the period. For the
purpose of calculating diluted earning per share, the net profit or
loss for the period attributable to equity shareholders and the
Weighted Average Number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares.
Mar 31, 2014
A. Basis of Accounting:
The accounting financial statements are prepared and presented under
the historical cost convention, on the accrual basis of accounting and
comply with the Accounting Standards prescribed by the Companies
(Accounting Standards) Rules, 2006 and the relevant provisions of the
Companies Act, 1956 in material respect and to the extent applicable.
b. Use of estimates
The preparation of the financial statements, in conformity with the
generally accepted accounting principles, requires estimates and
assumptions to be made which affect the reported amounts of assets and
liabilities on the date of the financial statements and the reported
amounts of revenues and expenses during the reporting period.
Differences between actual results and estimates are recognized in the
period in which the results are known/ materialized.
c. Investments
I) Current Investments: Current investments are valued at the lower of
cost arrived on weighted average basis or fair value.
ii) Non Current Investments: A provision is made for diminution other
than temporary in nature. These are intended to be held for a period of
more than one year from the date of the investment and are valued at
cost. The cost is determined on weighted average method basis.
d. Fixed Assets and Depreciation: Tangible Fixed Assets:
Tangible Fixed Assets are stated at cost, net of accumulated
depreciation and accumulated impairment losses, if any. The cost
comprises of purchase price, borrowing cost of capitalization and
directly attributable cost of bringing the asset to its working
condition for the intended use. Any trade discounts and rebates are
deducted in arriving at the purchase price. Depreciation is provided
under the written down value method, at the rates and in the manner
prescribed under Schedule XIV of the Companies Act, 1956.
Intangible Fixed Assets:
Intangible Fixed Assets are measured on initial recognition at cost.
The cost of intangible assets acquired in an amalgamation in the nature
of purchase is their fair value as at the date of amalgamation.
Following initial recognition, intangible assets are recognized at cost
less accumulated amortization. Intangible assets are amortized
systematically on straight line basis over its useful life of 3 years.
e. Taxation:
Tax expense comprises of current and deferred tax. Current Income-tax
is measured at the amount expected to be paid to the tax authorities in
accordance with the Income-tax Act, 1961 enacted in India and tax laws
prevailing in the respective tax jurisdictions where the company
operates. The tax rates and tax laws used to compute the amount are
those that are enacted or substantively enacted, at the reporting date.
Deferred income taxes reflect the impact of timing differences between
taxable income and accounting income originating during the current
year and reversal of timing differences for the earlier years. Deferred
tax is measured using the tax rates and the tax laws enacted or
substantively enacted at the reporting date. Deferred tax liabilities
are recognized for all taxable timing differences. Deferred tax assets
are recognized for deductible timing differences only to the extent
that there is reasonable certainty that sufficient future taxable
income will be available against which such deferred tax assets can be
realized.
f. Revenue Recognition:
Revenue from Professional fees & Consultancy charges, Income from
Brokerage & interest on loans and Inter Corporate Deposits and lease
rent are recognized as and when there is reasonable certainty of its
ultimate realization and on completion of the assignment.
Non Performing Assets:
Income is not recognized in respect of Non Performing Assets, if any,
as per guidelines for prudential norms prescribed by Reserve bank of
India. (RBI)
Dividend:
Dividend Income is recognized when the Company''s right to receive is
established by the reporting date.
g. Foreign Currency Transactions
Transactions in Foreign Currencies are recorded at the exchange rate
prevailing on the date of transactions.
Foreign currency current assets and current liabilities outstanding at
the year end are translated at the year end exchange rate and
unrealized exchange gain or loss is recognized in the Statement of
Profit and Loss.
Realized exchange gain/loss on foreign transactions during the year is
recognized in the Statement of Profit and Loss.
h. Derivative Transactions:
In accordance with the ICAI announcement, derivatives contracts, other
than foreign contracts covered under AS 11, are marked to market on a
portfolio basis, and the loss if any, after considering the offsetting
effect of gain on the underlying hedged item, is charged to the
Statement of Profit & Loss.
i. Stock in Trade:
Stocks of shares are valued at the lower of cost arrived on weighted
average basis or fair value.
j. Employee Benefits:
i) Short term employee benefits are charged off at the undiscounted
amount in the year in which the related service is rendered.
ii) The company is exempted from Payment of Gratuity Act, 1972 in view
of its strength of employees being less than threshold limit attracting
the applicability of the said statute and as such no provision has been
made for the said liability. iii) Leave Encashment is not provided for
on actuarial basis in view of the employees being less than 10 and the
same is charged on actual basis.
k. Provisions, Contingent Liabilities & Contingent Assets:
Provisions involving substantial degree of estimation in measurement
are recognized when there is present obligation as a result of past
event and it is probable that there will be outflow of resources.
Contingent liabilities are not recognized but are disclosed in the
notes Contingent assets are neither recognized nor disclosed in the
financial statements. Provisions, Contingent Liabilities and Contingent
Assets are reviewed at each Balance Sheet date.
l. Earnings per Share:
Basic Earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders (after
deducting preference dividends and attributable taxes) by the Weighted
Average Number of equity shares outstanding during the period. For the
purpose of calculating diluted earning per share, the net profit or
loss for the period attributable to equity shareholders and the
Weighted Average Number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares.
(b) Terms and Rights attached to Equity Shares:
The Company has only one class of equity shares having par value of Rs.
10 per share. Each shareholder of equity share is entitled to one vote
per share.
In the event of liquidation of the Company, the holders of equity
shares will be entitled to receive 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.
Mar 31, 2013
A. Basis of Accounting:
The accounting financial statements are prepared and presented under
the historical cost convention, on the accrual basis of accounting and
comply with the Accounting Standards prescribed by the Companies
(Accounting Standards) Rules, 2006 and the relevant provisions of the
Companies Act, 1956 in material respect and to the extent applicable.
b. Use of estimates
The preparation of the financial statements, in conformity with the
generally accepted accounting principles, requires estimates and
assumptions to be made which affect the reported amounts of assets and
liabilities on the date of the financial statements and the reported
amounts of revenues and expenses during the reporting period.
Differences between actual results and estimates are recognized in the
period in which the results are known/ materialized.
c. Investments
i) Current Investments: Current investments are valued at the lower of
cost arrived on weighted average basis or fair value.
ii) Non Current Investments: A provision is made for diminution other
than temporary in nature. These are intended to be held for a period of
more than one year from the date of the investment and are valued at
cost. The cost is determined on weighted average method basis.
d. Fixed Assets and Depreciation:
(i) Tangible Fixed Assets:
Tangible Fixed Assets are stated at cost, net of accumulated
depreciation and accumulated impairment losses, if any. The cost
comprises of purchase price, borrowing cost of capitalization and
directly attributable cost of bringing the asset to its working
condition for the intended use. Any trade discounts and rebates are
deducted in arriving at the purchase price.
Depreciation is provided under the written down value method, at the
rates and in the manner prescribed under Schedule XIV of the Companies
Act, 1956.
(ii) Intangible Fixed Assets:
Intangible Fixed Assets are measured on initial recognition at cost.
The cost of intangible assets acquired in an amalgamation in the nature
of purchase is their fair value as at the date of amalgamation.
Following initial recognition, intangible assets are recognized at cost
less accumulated amortization. Intangible assets are amortized
systematically on straight line basis over its useful life of 3 years.
e. Taxation:
Tax expense comprises of current and deferred tax. Current Income-tax
is measured at the amount expected to be paid to the tax authorities in
accordance with the Income-tax Act, 1961 enacted in India and tax laws
prevailing in the respective tax jurisdictions where the company
operates. The tax rates and tax laws used to compute the amount are
those that are enacted or substantively enacted, at the reporting date.
Deferred income taxes reflect the impact of timing differences between
taxable income and accounting income originating during the current
year and reversal of timing differences for the earlier years. Deferred
tax is measured using the tax rates and the tax laws enacted or
substantively enacted at the reporting date.
Deferred tax liabilities are recognized for all taxable timing
differences. Deferred tax assets are recognized for deductible timing
differences only to the extent that there is reasonable certainty that
sufficient future taxable income will be available against which such
deferred tax assets can be realized.
f. Revenue Recognition:
Revenue from Professional fees & Consultancy charges, Income from
Brokerage & interest on loans and Inter Corporate Deposits and lease
rent are recognized as and when there is reasonable certainty of its
ultimate realization and on completion of the assignment.
Non Performing Assets:
Income is not recognized in respect of Non Performing Assets, if any,
as per guidelines for prudential norms prescribed by Reserve bank of
India. (RBI)
Dividend:
Dividend Income is recognized when the Company''s right to receive is
established by the reporting date.
g. Foreign Currency Transactions
Transactions in Foreign Currencies are recorded at the exchange rate
prevailing on the date of transactions.
Foreign currency current assets and current liabilities outstanding at
the yearend are translated at the yearend exchange rate and
unrealized exchange gain or loss is recognized in the Statement of
Profit and Loss.
Realized exchange gain/loss on foreign transactions during the year is
recognized in the Statement of Profit and Loss.
h. Derivative Transactions:
In accordance with the ICAI announcement, derivatives contract, other
than foreign contracts covered under AS 11, are marked to market on a
portfolio basis, and the loss if any, after considering the offsetting
effect of gain on the underlying hedged item, is charged to the
Statement of Profit & Loss.
i. Stock in Trade:
Stocks of shares are valued at the lower of cost arrived on weighted
average basis or fair value.
j. Employee Benefits:
i) Short term employee benefits are charged off at the undiscounted
amount in the year in which the related service is rendered.
ii) The company is exempted from Payment of Gratuity Act, 1972 in view
of its strength of employees being less than threshold limit attracting
the applicability of the said statute and as such no provision has been
made for the said liability.
iii) Leave Encashment is not provided for on actuarial basis in view of
the employees being less than 10 and the same is charged on actual
basis.
k. Provisions, Contingent Liabilities & Contingent Assets:
Provisions involving substantial degree of estimation in measurement
are recognized when there is present obligation as a result of past
event and it is probable that there will be outflow of resources.
Contingent liabilities are not recognized but are disclosed in the
notes. Contingent assets are neither recognized nor disclosed in the
financial statements. Provisions, Contingent Liabilities and Contingent
Assets are reviewed at each Balance Sheet date.
l. Earnings per Share:
Basic Earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders (after
deducting preference dividends and attributable taxes) by the Weighted
Average Number of equity shares outstanding during the period. For the
purpose of calculating diluted earnings per share, the net profit or
loss for the period attributable to equity shareholders and the
Weighted Average Number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares.
Mar 31, 2012
A. Basis of Accounting:
The accounting financial statements are prepared and presented under
the historical cost convention, on the accrual basis of accounting and
comply with the Accounting Standards prescribed by the Companies
(Accounting Standards) Rules, 2006 and the relevant provisions of the
Companies Act, 1956 in material respect and to the extent applicable.
b. Use of estimates
The preparation of the financial statements, in conformity with the
generally accepted accounting principles, requires estimates and
assumptions to be made which affect the reported amounts of assets and
liabilities on the date of the financial statements and the reported
amounts of revenues and expenses during the reporting period.
Differences between actual results and estimates are recognized in the
period in which the results are known/ materialize.
c. Investments
i) Current Investments: Current investments are valued at the lower of
cost arrived on weighted average basis or fair value.
ii) Non Current Investments: A provision is made for diminution other
than temporary in nature. These are intended to be held for a period of
more than one year from the date of the investment and are valued at
cost. The cost is determined on weighted average method basis.
d. Fixed Assets and Depreciation:
(i) Tangible Fixed Assets:
Tangible Fixed Assets are stated at cost, net of accumulated
depreciation and accumulated impairment losses, if any. The cost
comprises of purchase price, borrowing cost of capitalization and
directly attributable cost of bringing the asset to its working
condition for the intended use. Any trade discounts and rebates are
deducted in arriving at the purchase price.
Depreciation is provided under the written down value method, at the
rates and in the manner prescribed under Schedule VI of the Companies
Act, 1956.
(ii) Intangible Fixed Assets:
Intangible Fixed Assets are measured on initial recognition at cost.
The cost of intangible assets acquired in an amalgamation in the nature
of purchase is their fair value as at the date of amalgamation.
Following initial recognition, intangible assets are recognized at cost
less accumulated amortization. Intangible assets are amortized
systematically on straight line basis over its useful life of 3 years.
e. Taxation:
Tax expense comprises of current and deferred tax. Current Income-tax
is measured at the amount expected to be paid to the tax authorities in
accordance with the Income-tax Act, 1961, enacted in India and tax laws
prevailing in the respective tax jurisdictions where the company
operates. The tax rates and tax laws used to compute the amount are
those that are enacted or substantively enacted, at the reporting date.
Current income tax relating to items recognized directly in equity is
recognized in equity and not in the statement of profit and loss.
Deferred income taxes reflect the impact of timing differences between
taxable income and accounting income originating during the current
year and reversal of timing differences for the earlier years. Deferred
tax is measured using the tax rates and the tax laws enacted or
substantively enacted at the reporting date. Deferred income tax
relating to items recognized directly in equity is recognized in equity
and not in the statement of profit and loss.
Deferred tax liabilities are recognized for all taxable timing
differences. Deferred tax assets are recognized for deductible timing
differences only to the extent that there is reasonable certainty that
sufficient future taxable income will be available against which such
deferred tax assets can be realized.
f. Revenue Recognition:
Revenue from Professional fees & Consultancy charges, Income from
Brokerage & interest on loans and Inter Corporate Deposits and lease
rent are recognized as and when there is reasonable certainty of its
ultimate realization and on completion of the assignment.
Non Performing Assets:
Income is not recognized in respect of Non Performing Assets, if any,
as per guidelines for prudential norms prescribed by Reserve Bank of
India. (RBI)
Dividend:
Dividend Income is recognized when the Company's right to receive is
established by the reporting date.
g. Foreign Currency Transactions:
Transactions in Foreign Currencies are recorded at the exchange rate
prevailing on the date of transactions.
Foreign currency current assets and current liabilities outstanding at
the yearend are translated at the yearend exchange rate and
unrealized exchange gain or loss is recognized in the Statement of
Profit and Loss.
Realized exchange gain/loss on foreign transactions during the year is
recognized in the Statement of Profit and Loss.
h. Derivative Transactions:
In accordance with the ICAI announcement, derivatives contracts, other
than foreign contracts covered under AS 11, are marked to market on a
portfolio basis, and the loss if any, after considering the offsetting
effect of gain on the underlying hedged item, is charged to the
Statement of Profit & Loss.
i. Stock in Trade:
Stocks of shares are valued at the lower of cost arrived on weighted
average basis or fair value.
j. Employee Benefits:
i) Short term employee benefits are charged off at the undiscounted
amount in the year in which the related service is rendered.
ii) The company is exempted from Payment of Gratuity Act. 1972 in view
of its strength of employees being less than threshold limit
attracting the applicability of the said statute and as such no
provision has been made for the said liability.
iii) Leave Encashment is not provided for on actuarial b isis in view
of the employees being less than 10 and Up r-ime is charged on actual
basis.
k. Provisions, Contingent Liabilities & Contingent Assets:
Provisions involving substantial degree of estimation in measurement
are recognized when there is present obligation as a result of past
event and it is probable that there will be outflow of resources.
Contingent liabilities are not recognized but are disclosed in the
notes. Continuant assets are neither recognized nor disclosed in the
financial statements. Provisions, Contingent Liabilities and Contingent
Assets are reviewed at each Balance Sheet date.
I. Earnings per Share:
Basic Earnings per share are calculated by dividing the net profit or
loss for the period attributable to equity shareholders (after
deducting preference dividends and attributable taxes) by the Weighted
Average Number of equity shares outstanding during the period. For the
purpose of calculating diluted earnings per share, the net profit or
loss for the period attributable to equity shareholders and the
Weighted Average Number of shares outstanding during the period are
adjusted for the effects of all dilutive potential equity shares.
* Note. 20% of the Net Profit After Tax transferred to Special Reserve
as required u/s 45 1C of RBI Guidelines, 1934.
Mar 31, 2010
1. Accounting System:
The accounting financial statements are prepared and presented under
the historical cost convention, on the accrual basis of accounting and
comply with the Accounting Standards prescribed by the Companies
(Accounting Standards) Rules, 2006 and the relevant provisions of the
Companies Act, 1956 in material respect and to the extent applicable.
2. Use of estimates
The preparation of the financial statements, in conformity with the
generally accepted accounting principles, requires estimates and
assumptions to be made that affect the reported amounts of assets and
liabilities on the date of the financial statements and the reported
amounts of revenues and expenses during the reporting period.
Differences between actual results and estimates are recognized in the
period in which the results are known/ materialise.
3. Investments
Current trade investments: Current investments are valued at the lower
of cost arrived on weighted average basis and market value whichever is
lower.
Long term trade investments: Long term Investments are valued at cost.
For long term investments, provision for diminution in value is made
wherever there is a permanent reduction in market price.
As certified by the Management, all investments are intended to be held
for a period more than one year from the date on which such investments
are made. Accordingly all investments are long-term investments and are
valued at costs. The cost is determined on Weighted Average Method
basis.
4. Fixed Assets and depreciation
Fixed Assets are stated at cost of acquisition less depreciation.
Depreciation is provided under the written down value method, at the
rates and in the manner prescribed under schedule XIV of the Companies
Act, 1956.
5. Taxation
(i) Provision for Taxation is made on the basis of the Taxable profits
computed for the current accounting period in accordance with the
Income Tax Act, 1961.
(ii) Deferred Tax resulting from Ãtiming differenceà between book
profit and taxable profit for the year is accounted for using the tax
rates and laws that have been enacted or substantially enacted as on
the balance sheet date. The deferred tax asset is recognized and
carried forward only to the extent that there is a certainty that the
asset will be adjusted in future.
6. Revenue Recognition:
Revenue is being recognized as and when there is reasonable certainty
of its ultimate realization and on completion of the assignment.
a) Professional Fees:
Professional Fees and consultancy charges are accounted for on accrual
basis.
b) Income from Brokerage and other operations:
Income from Brokerage and other operations, which comprises of interest
on loans and inter-corporate deposits, are accounted for on accrual
basis.
c) Non Performing Assets
Income is not recongnised in respect of Non Performing Assets, if any,
as per guidelines for prudential norms prescribed by Reserve bank of
India. (RBI)
d) Dividend:
Dividend Income is recognized when the right to receive is established.
7. Foreign Currency Transactions
Transactions in Foreign Currencies are recorded at the exchange rate
prevailing on the date of transactions. Any profit or loss on account
of exchange difference on transaction is recognized as profit or loss,
as the case may be, for the year.
8. Derivative Transactions:
As at the balance sheet date the profit/loss on open position in
derivatives are accounted as follows :
- Credit balance in the ÃMark to Market Margin - DerivativesÃ, being
anticipated profit, ignored and no credit is taken in the profit and
loss account.
- Debit balance in the Mark to Market Margin - Derivatives, being
anticipated loss, is recognized in the profit and loss account.
9. Stock in Trade: Stocks of shares are valued at cost or market price
whichever is lower.
10. Employee Benefits:
i) Short term employee benefits are charged off at the undiscounted
amount in the year in which the related service is rendered.
ii) The company is exempted from Payment of Gratuity Act, 1972 in view
of its strength of employees being less then threshold limit
attracting the applicability of the said statute and as such no
provision has been made for the said liability.
11. Treatment of Contingent Liabilities: Contingent liabilities not
provided for are disclosed by way of notes to accounts. SCHEDULE Ã 16
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