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Notes to Accounts of Purshottam Investofin Ltd.
Mar 31, 2015
1. Related Party Transactions
Related party disclosures as required under Accounting Standard (AS) Â
18 "Related party Disclosures", notified by the Government in the
Companies (Accounting Standard) Rules 2006, are given in a separate
annexure attached herewith:
Related parties with nature of relationship are given below:
Description of Relationship Name of Related Party
Key Managerial Personnel Bharat Bhushan Bansal (appointed on
Pravin Santlal Jain (appointed on
Sushil Kumar (appointed on 24.06.2013)
Mar 31, 2014
Purshottam Investofin Limited ("The Company") was incorporated in India
on November, 04th 1988. The Company is registered with Reserve Bank of
India (RBI) as a Non-Banking Financial Company Vide Certificate No.
B-14-01044 dated 14th May 2003. The company is primarily engaged in the
business of NBFC.The accompanying financial statements reflect the
results of the activities undertaken by the company for the period
April 1,2013 to March 31,2014
1.0. Cash and Cash Equivalents
Cash and cash equivalents comprise cash and cash in hand with banks.
1.1. Holding Subsidiary Relationship
The Company is holding 100% shares of Catalyst International Limited
being a Parent Company.
In accordance with the accounting standard on Related Party Disclosures
AS-18,the disclosure in respect of related parties and the transactions
with them as identified and certified by the management are as follows-
(A) Nature of Related Parties and description of relationship :