Mar 31, 2015
1 Corporate information
M. B. Parikh Finstocks Limited (hereinafter referred to as "the
company") is a member of National Stock Exchange and deals in trading
in shares, securities and commodities through recognised stock
Exchanges in India.
Note Particulars For the year ended For the year ended
31 March, 2015 31 March, 2014
2 Contingent liabilities to the extent not provided for
Claims against the company not
acknowledged as debt 1,500,000 1,500,000
Mar 31, 2014
1. Corporate information
M. B. Parikh Finstocks Limited (hereinafter referred to as "the
company") is a member of National Stock Exchange and deals in trading
in shares, securities and commodities through recognised stock
Exchanges in India.
Note Particulars For the year For the year
ended ended
31 March, 2014 31 March, 2013
2. Contingent liabilities to the
extent not provided for
Claims against the company not
acknowledged as debt 90,85,000 90,85,000
3. Basic and diluted earnings
per share
Net profit / (loss) for the
year from continuing operations 40,855 -4,45,805
Weighted average number of
equity shares 30,00,000 30,00,000
Earnings per share from
continuing operations - Basic 0.01 -0.15
Face value per equity share 10.00 10.00
4. Deferred tax liability
Tax effect of items constituting
deferred tax liability
Impact of difference between tax
depreciation and depreciation
charged for the year (2,03,689) (2,26,895)
Total (2,03,689) (2,26,895)
Mar 31, 2013
1 Corporate information
The company is a member of National Stock Exchange and deals in trading
in shares, securities and commodities through recognised stock
Exchanges in India.
Note 2 Previous year''s figures
The Revised Schedule VI has become effective from 1 April, 2012 for the
preparation of financial statements.
This has significantly impacted the disclosure and presentation made in
the financial statements. Previous year''s figures have been regrouped
/ reclassified wherever necessary to correspond with the current year''s
classification / disclosure.
Mar 31, 2012
1 Corporate information
The company is a member of National Stock Exchange and deals in trading
in shares, securities and commodities through recognized stock
Exchanges in India.
Note 2 Employee benefit plans
As the Number of employees of the Company is below the prescribed limit
for registration under the Provident Fund Act and other legislative
pertaining to employees.
The Company has not made any provision for gratuity and/or retirement
funds
Note 3 Segment information
The company doesn't have more than one reporting segment in terms of
AS-17" Segment Reporting".
Note: - Figures in brackets relate to the previous year.
Note 4 Previous year's figures
The Revised Schedule VI has become effective from 1 April, 2011 for the
preparation of financial statements. This has significantly impacted
the disclosure and presentation made in the financial statements.
Previous year's figures have been regrouped / reclassified wherever
necessary to correspond with the current year's classification /
disclosure. CONTINGENT LIABILITIES AND COMMITMENTS As at As at 31 st
March, 2012 31 st March, 2011 (I) Contingent Liabilities
(a) Claims against the company / disputed liabilities
Not acknowledged as debt
(a) In respect of joint ventures - 1
(b) In respect of others 1,396 1,666
The Company has recognized deferred tax asset on unabsorbed
depreciation to the extent of the corresponding deferred tax liability
on the difference between the book balance and the written down value
of fixed assets under Income Tax (or) The Company has recognized
deferred tax asset on unabsorbed depreciation and brought forward
business losses based on the Management's estimates of future profits
considering the non-cancellable customer orders received by the Company
Mar 31, 2011
1. In the opinion of the Board and to the best of their knowledge and
belief the value of realization of loans, advances and current assets
in the ordinary course of business will not be less than the amount at
which they are stated in the Balance Sheet.
2. Auditors Fees: Rs. 47,250/- (Previous Years Rs. 47,250/-)
3. Retirement Benefits:
It is informed to us that the company is not required to be registered
under Provident Fund Act. Further the provisions for gratuity,
superannuation funds and other funds, E.S.I. of Employees State
Insurance Act are not applicable.
4. Notes on Cash Flow Statement:
The Cash Flow Statement has been prepared using the indirect method
specified in Accounting Standard à 3 "Cash Flow Statements" issued by
the Institute of Chartered Accountants of India.
5. Taxation:
A provision for income tax based on tax liability is computed after
considering tax allowance, exemptions and rebate, if any. Current tax
is net of the effect of written back of provisions and refunds
received.
6. Contingent Liabilities
Claim against the company amounting to Rs.90.85 Lacs that may arise in
respect of matters in appeal/challenged by the company in Writ-not
acknowledged as debt. The company does not expect any payment in
respect of the above contingent liability.
Other Transactions:
According to information and explanation given to us there are no
transactions except stock broking transactions entered into amongst
related parties during the year at prevailing market price at the time
of transaction. The company has acted in its capacity of stock Broker
only.
7. Segment Reporting:
The company does not have more than one reportable segment in terms of
AS 17 Ã "Segment Reporting" issued by the Institute of Chartered
Accountants of India.
8. Foreign Currency Transaction:
No Foreign Currency transactions entered into during the reporting
period.
9. Previous year figures have been recast / regrouped / restated
wherever necessary.
Mar 31, 2010
1. In the opinion of the Board and to the best of their knowledge and
belief the value of realization of loans, advances and current assets
in the ordinary course of business will not be less than the amount at
which they are stated in the Balance Sheet.
2. Auditors Fees: Rs. 47,250/- (Previous Years Rs. 47,250/-)
3. Retirement Benefits:
It is informed to us that the company is not required to be registered
under Provident Fund Act. Further the provisions for gratuity,
superannuation funds and other funds, E.S.I, of Employees State
Insurance Act are not applicable.
4. Notes on Cash Flow Statement:
The Cash Flow Statement has been prepared using the indirect method
specified in Accounting Standard - 3 "Cash Flow Statements" issued by
the Institute of Chartered Accountants of India.
5. Contingent Liabilities
Claim against the company amounting to Rs.90.85 Lacs that may arise in
respect of matters in appeal/challenged by the company in Writ-not
acknowledged as debt. The company does not expect any payment in
respect of the above contingent liability.
6. Earning Per Share (Rs.) 0.28 0.09
7. Related Party Transaction:
(i) Key Management Personnel:
Mr. Mahesh Parikh Non-Executive Chairman
Mr. Digant Parikh Managing Director
Mr. Santosh Patole Vice President and CFO
Mr. Imtiyazul Hasan Chief Dealer and COO
Mrs. Aarti Naik Compliance Officer (CDSL)
Ms. Mitali Solanki Accounts &Finance Executive
Other Transactions:
According to information and explanation given to us there are no
transactions except stock broking transactions entered into amongst
related parties during the year at prevailing market price at the time
of transaction. The company has acted in its capacity of stock Broker
only.
8. Segment Reporting:
The company does not have more than one reportable segment in terms of
AS 17 - "Segment Reporting" issued by the Institute of Chartered
Accountants of India.
9. Foreign Currency Transaction:
No Foreign Currency transactions entered into during the reporting
period.
10. Previous year figures have been recast / regrouped / restated
wherever necessary.
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