Mar 31, 2015
1. CORPORATE INFORMATION
Manraj Housing Finance Limited is a listed Company incorporated in
India under the provi- sions of the Companies Act, 1956. Earlier it was
engaged in the business of providing finance for housing. This activity
of late has been discontinued and since last few years the company has
started construction activity and is otherwise dealing in real estate
business.
2. OTHER NOTES
3. Unclaimed Dividend and Transfer of Dividend to Investor
Protection Fund
Unclaimed Dividend of Rs. NIL ( P.Y. Rs. NIL/- )
4. Provision for Current and Deferred Tax. (AS-22)
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
Deferred tax resulting from "timing difference" between book and
taxable profit is ac- counted for using the tax rates and laws that
have been enacted or substantively enacted as on the balance sheet
date. The deferred tax asset is recognised and carried forward only to
the extent there is a reasonable certainty that the assets will be
realised in future.
5. Current assets, loans and advances
In the opinion of the board, the current assets, loans and advances ,
have a value on realization in the ordinary course of business at least
equal to the amount at which they are stated in the Balance sheet.
6. Amount due to micro & small enterprises:
The Company has not received information from vendors regarding their
status under the Micro, Small and Medium Enterprises Development Act,
2006 and, hence, disclosures relating to amounts unpaid as at the year
end together with interest paid/payable under this Act has not been
given.
7. Contingent Liability
Estimated amount of contracts remaining to be executed on capital
account and not provided for (net of advances) Rs. N I L /-. (P.Y. Rs.
NIL).
8. Segment Reporting
The company's operations predominantly consist of construction
activities. Hence there are no reportable segments under Accounting
Standard - 17. During the year under report substantial part of the
company's business has been carried out in the state of Maharashtra.
The conditions prevailing in Maharashtra being uniform, no separate
geo- graphical disclosures are considered necessary.
9. Employee Benefits
No provision for gratuity payable is made as there is no eligible
employee entitled to gratuity. There are no other dues payable to
employees for which provision / payment has been made in books of
accounts including leave encashment dues etc.
10. Disclosure in respect of Related Parties pursuant to Accounting
Standard 18
1) List of Related Parties
(As identified by the Management)
i) Enterprises that directly or indirectly exercise control NIL
ii) Key Managerial Personnel and Enterprises
(Having common Key Management Personnel or their relatives)
Key Management Personnel
1 Shri Ishwarlal S. Jain Managing Director
2 Shri Manish I. Jain Director
3 Shri Pramod N. Mehta Director
4 Shri Suganchand K. Raka Director
5 Shri Ramvilas K. Rathi Director
6 Shri Prashant J. Agrawal Director
7 Shri Purushottam T. Wani Director
Relatives of Key Management Personnel
1 Shri Amrish Jain (son of Shri Ishwarlal Jain)
2 Mrs Pushpadevi Jain (wife of Shri Ishwarlal Jain)
3 Mrs. Neetika Jain (wife of Shri Manish Jain)
Enterprises having common Key Management Personnel (Associates)
Name of the Related Party Relationship
Arya Automobiles Proprietary Concern of Shri.
I.S.Jain
Rajmal Lakhichand (Jalgaon)
Rajmal Lakhichand & Sons
Arya Impex
Manraj Travels
Manraj Construction
Manraj Green Gold
Rajmal Lakhichand Jewellers (Pune)
R.L.Commodities Pvt. Ltd. Shri Ishwarlal S. Jain / Manish
I. Jain and their relatives
Manraj Jewellers Pvt. Ltd. are partners / directors / share-
holders in these firms /
RLJewels Pvt Ltd companies.
Ajanta Health Resort Pvt. Ltd.
R.L. Gold Pvt. Ltd.
Rajmal Lakhichand Jewellers Pvt. Ltd.
Manraj Motors Pvt. Ltd.
Manavi Holdings Pvt. Ltd.
Chatrapati Real Estate and Projects Pvt. Ltd.
Precious Hallmarking Pvt, Ltd.
11. Where changes in presentation are made, comparative figures for
the previous year are re-grouped accordingly.
Mar 31, 2014
1) CORPORATE INFORMATION
Manraj Housing Finance Limited is a listed Company incorporated in
India under the provisions of the Companies Act, 1956. Earlier it was
engaged in the business of providing finance for housing. This activity
of late has been discontinued and since last few years the company has
started construction activity and is otherwise dealing in real estate
business.
2) OTHER NOTES
2.1) Unclaimed Dividend and Transfer of Dividend to Investor
Protection Fund Unclaimed Dividend of Rs. NIL ( P.Y. Rs. NIL/- )
2.2) Loans and Advances
The company has granted loans aggregating to Rs. 13,32,01,708 during
the financial year 2012- 13 to certain parties and an advance of Rs.
70,00,000 to a relative of a director only on the basis of an agreement
to furnish documents to create security to repay on demand. However, no
security was created for the said loans and the entire loans were
recovered / adjusted before 31/03/2014.
2.3) Provision for Current and Deferred Tax.
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
Deferred tax resulting from "timing difference" between book and
taxable profit is accounted for using the tax rates and laws that have
been enacted or substantively enacted as on the balance sheet date. The
deferred tax asset is recognised and carried forward only to the extent
there is a reasonable certainty that the assets will be realised in
future.
2.4) Current assets, loans and advances
In the opinion of the board, the current assets ,loans and advances ,
have a value on realization in the ordinary course of business at least
equal to the amount at which they are stated,in the Balance sheet.
2.5) Amount due to micro & small enterprises:
The Company has not received information from vendors regarding their
status under the Micro, Small and Medium Enterprises Development Act,
2006 and, hence , disclosures relating to amounts unpaid as at the year
end together with interest paid/payable under this Act has not been
given.
2.6) Contingent Liability
Estimated amount of contracts remaining to be executed on capital
account and not provided for (net of advances) Rs. N I L /-. (P.Y. Rs.
NIL).
2.7) Segment Reporting
The company''s operations predominantly consist of construction
activities. Hence there are no reportable segments under Accounting
Standard - 17. During the year under report substantial part of the
company''s business has been carried out in the state of Maharashtra.
The Conditions prevailing in Maharashtra being uniform, no separate
geographical disclosures are considered necessary.
2.8) Employee Benefits
No provision for gratuity payable is made as there is no eligible
employee entitled to gratuity. There are no other dues payable to
employees for which provision / payment has been made in books of
accounts including leave encashment dues etc.
2.9) Disclosure in respect of Related Parties pursuant to Accounting
Standard 18
1) List of Related Parties (As identified by the Management)
i) Enterprises that directly or indirectly exercise control NIL
ii) Key Managerial Personnel and Enterprises
(Having common Key Management Personnel or their relatives)
Key Management Personnel
1 Shri Ishwarlal S. Jain Managing Director
2 Shri Manish I. Jain Director
3 Shri Pramod N. Mehta Director
4 Shri Suganchand K. Raka Director
5 Shri Ramvilas K. Rathi Director
6 Shri Prashant J. Agrawal Director
7 Shri Purushottam T. Wani Director
2.10) Where changes in presentation are made, comparative figures for
the previous year are re-grouped accordingly.
Mar 31, 2013
1) CORPORATE INFORMATION
Manraj Housing Finance Limited is a listed Company incorporated in
India under the provisions of the Companies Act, 1956. Earlier it was
engaged in the business of providing finance for housing. This activity
of late has been discontinued and since last few years the company has
started construction activity and is otherwise dealing in real estate
business.
2) Unclaimed Dividend and Transfer of Dividend to Investor Protection
Fund
Unclaimed Dividend of Rs. NIL ( P.Y. Rs. NIL/-)
3) The Company has granted loans aggregating to Rs. 13,32,01,708
during the year (balance as on 31-03-2013 Rs.14,42,61,132) to certain
parties and an advance of Rs. 70,00,000 (balance as on 31/03/2013 Rs.
74,54,512) to a relative of a director only on the basis of an
agreement to furnish documents to create security to repay the same on
demand. However, no security is created till this date.
4) Provision for Current and Deferred Tax.
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
Deferred tax resulting from "timing difference" between book and
taxable profit is accounted for using the tax rates and laws that have
been enacted or substantively enacted as on the balance sheet date. The
deferred tax asset is recognised and carried forward only to the extent
there is a reasonable certainty that the assets will be realised in
future.
5) Current assets, loans and advances
In the opinion of the board, the current assets Joans and advances ,
have a value on realization in the ordinary course of business at least
equal to the amount at which they are stated,in the Balance sheet.
6) Amount due to micro & small enterprises:
The Company has not received information from vendors regarding their
status under the Micro, Small and Medium Enterprises Development Act,
2006 and, hence , disclosures relating to amounts unpaid as at the year
end together with interest paid/payable under this Act has not been
given.
7) Contingent Liability
Estimated amount of contracts remaining to be executed on capital
account and not provided for (net of advances) Rs. NIL/-. (P.Y. Rs.
NIL).
8) Disclosure in respect of Related Parties pursuant to Accounting
Standard 18
1) List of Related Parties
(As identified by the Management)
i) Enterprises that directly or indirectly exercise control NIL
ii) Key Managerial Personnel and Enterprises
(Having common Key Management Personnel or their relatives)
Key Management Personnel
1 Shri Ishwarlal S. Jain Managing Director
2 Shri Manish I. Jain Director
Relatives of Key Management Personnel
1 Shri Amrish Jain (son of Shri Iswarlal Jain)
2 Mrs Pushpadevi Jain (wife of Shri Iswarlal Jain)
3 Mrs. Nitika Jain (wife of Shri Manish Jain)
9) Where changes in presentation are made, comparative figures for the
previous year are re-grouped accordingly.
Mar 31, 2012
1) CORPORATE INFORMATION
Manraj Housing Finance Limited is a listed Company incorporated in
India under the provisions of the Companies Act, 1956. Earlier it was
engaged in the business of providing finance for housing. This activity
of late has been discontinued and since last few years the company has
started construction activity and is otherwise dealing in real estate
business.
2) PRESENTATION AND DISCLOSURE OF FINANCIAL STATEMENTS.
For the year ended 31st March, 2012 the revised Schedule VI notified
under the companies Act, 1956, has become applicable to the company,
for the preparation and presentation of Financial statement. The
adoption or Sctredute Vt does not impact recognition and measurement
principles followed for preparation of financial statements. However,
it has significant impact on presentation and disclosure made in
financial statements. The company has also reclassified the previous
year figures in accordance with the requirements applicable in the
current year.
3) Unclaimed Dividend and Transfer of Dividend to Investor Protection
Fund Unclaimed Dividend of Rs. NIL ( P.Y. Rs. NIL/-)
4) As certified by the management loans granted by the Company are
secured by -
- Simple / equitable mortgage of the property and/or
- Assignment of Life Insurance Policy and/or
- Personal Guarantees and/or
- Undertaking to create a security and/or
- Promissory Note.
and are considered good except in the cases where the provisions have
been made.
The Company has granted loans to certain parties during the year under
review aggregating to Rs. 3,00,00,000 and in earlier years aggregating
to Rs. 3,81,74,000/- only on the basis of an agreement to create
security as and when required. However no such security is created till
date.
5) Borrowing Costs
There are no borrowing costs that are attributable to the acquisition
or construction of qualifying asset. A qualifying asset is one that
necessarily takes substantial period of time to get ready for intended
use.
6) Provision for Current and Deferred Tax.
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
Deferred tax resulting from "timing difference" between book and
taxable profit is accounted for using the tax rates and laws that have
been enacted or substantively enacted as on the balance sheet date. The
deferred tax asset is recognised and carried forward only to the extent
there is a reasonable certainty that the assets will be realised in
future.
7) Bad Debts .
Company has written off Housing loans without enforcing security on the
ground that recovery steps would not be commercially viable.
8) Current assets, loans and advances
In the opinion of the board, the current assets Joans and advances ,
subject to the provision, have a value on realization in the ordinary
course of business at least equal to the amount at which they are
stated.
9) Amount due to micro & small enterprises:
The Company has not received information from vendors regarding their
status under the Micro, Small and Medium Enterprises Development Act,
2006 and, hence, disclosures relating to amounts unpaid as at the year
end together with interest paid/payable under this Act has not been
given.
10) Contingent Liability
Estimated amount of contracts remaining to be executed on capital
account and not provided for (net of advances) Rs. NIL/- (P.Y. Rs.
NIL).
11) Disclosure in respect of Related Parties pursuant to Accounting
Standard 18
1) List of Related Parties -
(As identified by the Management)
i) Enterprises that directly or indirectly exercise control NIL
ii) Key Managerial Personnel and Enterprises
(Having common Key Management Personnel or their relatives)
Key Management Personnel
1 Shri Ishwarlal S. Jain Managing Director
2 Shri Manish I. Jain Director
Relatives of Key Management Personnel
1 Shri Amrish Jain (son of Shri Ishwarlal Jain)
2 Mrs. Pushpadevi Jain (wife of Shri Ishwarlal Jain)
3 Mrs. Nitika Jain (wife of Shri Manish Jain)
12) Where changes in presentation are made, comparative figures for the
previous year are re- grouped accordingly.
Mar 31, 2011
1) Unclaimed Dividend and Transfer of Dividend to Investor Protection
Fund Unclaimed Dividend of Rs. NIL (P. Y. Rs. NIL/-)
2) As certified by the management loans granted by the Company are
secured by -
- Simple / equitable mortgage of the property and/or
- Assignment of Life Insurance Policy and/or
- Personal Guarantees and/or
- Undertaking to create a security and/or
- Promissory Note.
And are considered good except in the cases where the provisions have
been made.
3) Borrowing Costs
There are no borrowing costs that are attributable to the acquisition
or construction of qualifying assets. A Qualifying asset is one that
necessarily takes substantial period of time to get ready for intended
use.
4) Provision for Current and Deferred Tax.
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
Deferred tax resulting from "timing difference" between book and
taxable profit is accounted for using the tax rates and laws that have
been enacted or substantively enacted as on the balance sheet date. The
deferred tax asset is recognised and carried forward only to the extent
there is a reasonable certainty that the assets will be realised in
future.
5) Transfer to Special Reserve
The company has transferred Rs.50,00,000 /-(P.Y. Rs.50,00,000) to
Special Reserve Account during the current year.
6) Bad Debts
Company has written off certain Housing loans without enforcing
security on the ground that recovery steps would not be commercially
viable.
7) Current assets, loans and advances
In the opinion of the board, the current assets, loans and advances,
subject to the provision, have a value on realization in the ordinary
course of business at least equal to the amount at which they are
stated.
8) Amount due to micro & small enterprises:
The company has not received information from vendors regarding their
status under the Micro, Small and Medium Enterprises Development Act,
2006 and hence, disclosures relating to amounts unpaid as at the year
end together with interest paid / payable under this Act has not been
given.
9) Contingent Liability
Estimated amount of contracts remaining to be executed on capital
account and not provided for (net of advances) Rs. NIL /-. (P.Y. Rs.
NIL).
10) Disclosure in respect of Related Parties pursuant to Accounting
Standard 18
1) List of Related Parties
(As identified by the Management)
i) Enterprises that directly or indirectly exercise control NIL
ii) Key Managerial Personnel and Enterprises
(having common Key Management Personnel or their relatives )
Key Management Personnel
1 Shri Ishwarlal S. Jain Managing Director
2 Shri Manish I. Jain Director
Relatives of Key Management Personnel
1 Shri Amrish Jain (son of Shri Iswarlal Jain)
2 Mrs Pushpadevi Jain (wife of Shri Iswarlal Jain)
3 Mrs. Nitika Jain (wife of Shri Manish Jain)
11) Where changes in presentation are made, comparative figures for the
previous year are re-grouped accordingly.
Figures for the Previous Year have been regrouped and reclassified
wherever necessary to conform to the classification of current year
This is the Cash Flow Statement referred to in our report of even date
Mar 31, 2010
1) The company has complied with the provisions of Non-Banking
Financial Companies and Miscellaneous Non-Banking Companies
(Advertisement) Rules 1977.
2) Unclaimed Dividend and Transfer of
Dividend to Investor Protection Fund
Unclaimed Dividend of Rs. NIL (P.Y. Rs. NIL/-)
3) As certified by the management loans granted by the Company are
secured by -
- Simple / equitable mortgage of the property and/or
- Assignment of Life Insurance Policy and/or
- Personal Guarantees and/or
- Undertaking to create a security and/or
- Promissory Note.
And are considered good except in the cases where the provisions have
been made.
4) Borrowing Costs
Borrowing costs that are attributable to the acquisition or
construction of qualifying assets are capitalized as part of the cost
of such assets. A Qualifying asset is one that necessarily takes
substantial period of time to get ready for intended use. All other
borrowing costs are charged to revenue.
5) Provision for Current and Deferred Tax.
Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961.
Deferred tax resulting from "timing difference" between book and
taxable profit is ac- counted for using the tax rates and laws that
have been enacted or substantively enacted as on the balance sheet
date. The deferred tax asset is recognised and carried forward only to
the extent there is a reasonable certainty that the assets will be
realised in future.
6) Transfer to Special Reserve
The company has transferred Rs. 50,00,000 /-(P.Y. Rs.2,00,000) to
Special Reserve Account during the current year.
7) Amount due to micro & small enterprises:
There are no micro & small enterprises to which the company owes dues,
which are outstanding for more than 45 days as on 31st March 2010.
8) Contingent Liability
Estimated amount of contracts remaining to be executed on capital
account and not provided for (net of advances) Rs. NIL/-. (P.Y. Rs.
NIL).
9) Disclosure in respect of Related Parties pursuant to Accounting
Standard 18
1) List of Related Parties
(As identified by the Management)
i) Enterprises that directly or indirectly exercise control NIL
ii) Key Managerial Personnel and Enterprises
(having common Key Management Personnel or their relatives)
Key Management Personnel
1 Shri Ishwarlal S. Jain Managing Director
2 Shri Manish I. Jain Director
Relatives of Key Management Personnel
1 Shri Amrish Jain (son of Shri Iswarlal Jain)
2 Mrs Pushpadevi Jain (wife of Shri Iswarlal Jain)
3 Mrs. Nitika Jain (wife of Shri Jain)
10) Where changes in presentation are made, comparative figures for the
previous year are re-grouped accordingly.