Mar 31, 2018
NOTE-1 OTHER NOTES ON ACCOUNTS
i Based on the information / documents available with the Company, no creditor is covered under Micro, Small and Medium Enterprise Development Act, 2006. As a result, no interest provision/payments have been made by the Company to such creditors for the year ended 31st March 2018.
ii Loans & advances balances are subject to confirmation by the respective parties .
iii Segment Report :
The Company is engaged in the business of Non-Banking Financial Services and there are no separate reportable segments as per Accounting Standard 17.
iv Related Party Disclosure :
KEY MANAGEMENT PERSONNEL ( KMP )
1. Sagar Mal Nahata - Managing Director
2. Vivek Khandelwal - Company Secretary
RELATIVES OF (KMP) AND ENTERPRISE IN WHICH TRANSACTION HAS TAKEN PLACE:
1. S.M. NAHATA & CO.
2. S.M. NAHATA FOUNDATION
3. SHARP INVESTMENTS LIMITED
v The Company has Complied this information based on the current information in its possession. As at 31.03.2018, No supplier has intimated the Company about its status as a Micro or Small enterprise or its Registration with the appropriate authority under Micro, Small and Medium Enterprise Development Act, 2006.
Amount due to Micro Small and Medium Enterises as on 31.03.2018 Rs. NIL ( PY Rs. NIL )
vi The Financial Statements and Notes on Accounts has been prepared as per the Companies Act, 2013 with their Schedule as the same is effective from 1st April, 2017.
vii Effective from 1st April, 2014, the Company has charged depreciation based on the useful life of the assets as per the requirement of Schedule II of the Companies Act, 2013. It has recomputed the depreciation on various fixed assets in accordance with and in the manner prescribed with Part C of Schedule II of the Companies Act, 2013.
viii Provision for taxation on Income for the year has been made under the tax calculated on income under normal computation as per income tax act being higher than the tax computed under section 115JB of the income tax act.
ix The management has assessed that there is no impairment of Fixed assets requiring provisions in the accounts.
Accordingly, there is no debit to the Profit & Loss Account for the impairment of assets.
x Deferred Taxation :
The company will recogonise the deferred tax liabilities/assets on the timing differences for the period in which there is virtual certainty of future income by way of prudence in accordance with AS-22 â Accounting For Taxes On Income â issued by the Institute of Chartered Accountants of India.
xi No Provision has been made on account of gratuity as none of the employees have put in completed years of Service as required by the payment of Gratuity Act.
xii The Leave Salary for the Financial Year 2017-2018 has been paid to the employees during the Financial Year 2017-2018.
xiii Previous Year figures have been regrouped, rearranged or recasted wherever considered necessary.
xiv Informations required to be furnished under Reserve Bank Directions is given in separate Annexure.
Mar 31, 2015
I. The Company has Complied this information based on the current
information in its possession. As at 31.03.2015, No Amount due to Micro
Small and Medium Entries as on 31.03.2015 Rs. NIL ( PY Rs. NIL )
ii The Financial Statements and Notes on Accounts has been prepared as
per the Companies Act, 2013 with their Schedule as the same is
effective from 1st April, 2014.
iii Effective from 1st April, 2014, the Company has charged
depreciation based on the useful life of the assets as per the
requirement of Schedule II of the Companies Act, 2013. It has
recomputed the depreciation on various fixed assets in accordance with
and in the manner prescribed with Part C of Schedule II of the
Companies Act, 2013. The aggregate difference between the depreciation
so computed as per the companies Act, 2013 till 31st March, 2014 and
the depreciation charged in the accounts till 31st March, 2014 has been
debited to the opening balance of profit & Loss Account.
iv Provision for taxation on Income for the year has been made under
the tax calculated on income under normal computation as per income tax
act being higher than the tax computed under section 115JB of the
income tax act.
v The management has assessed that there is no impairment of Fixed
assets requiring provisions in the accounts.
vi Deferred Taxation :
The company will recognize the deferred tax liabilities/assets on the
timing differences for the period in which there is virtual certainty
of future income by way of prudence in accordance with AS-22 "
Accounting For Taxes On Income " issued by the Institute of Chartered
Accountants of India.
vii No Provision has been made on account of gratuity as none of the
employees have put in completed years of Service as required by the
payment of Gratuity Act.
viii No provision has been made on account of leave salary as there are
no leave to the credit of employees as at the end of the year.
ix Previous Year figures have been regrouped, rearranged or recanted
wherever considered necessary.
x Information's required to be furnished under paragraph 9BB of
Non-Banking Financial Companies Prudential Norms (Reserve Bank)
Directions, 1998 is given in separate Annexure.
Mar 31, 2014
1. Based on the information / documents available with (the Company, no
creditor is covered under Micro. Small and Medium Enterprise
Development Act, 2006. As a result, no interest provision; payments
have been made by the Company to such creditors, if any, and no
disclosures titers of arc made in these accounts.
2. Loans. advances and sundry debtors and sundry creditors balances are
subject to confirmation by the respective earlier.
3. Segment Report:
The Company is engaged in the business of Non-Banking Financial
Services and there are no separate reportable augments as pet
Accounting Standard 17.
4. Provision for Outstanding Standard Assets have been made'0.25% as
per RBI Circular No.: DNBPS.PD.CC.No. 207/03.02.002 '2010-11 dated:
17-01-2011
5. No Provision*has been made on account of gratuity as none of the
employees have put in completed years of service as required by the
Payment Circuitry Act.
6. No provision has been made on account of leave salary as there as no
leave to the credit of employees as ai ihe end of the
7. Previous Year figures have been regrouped, rearranged or encased
wherever considered necessary.
8. Information's required to be furnished under paragraph 9BB of
Non-Banking Financial Companies Prudential Norm (Reserve Bank)
Directions. 1998 is given in separate Annexure.
9. Till 31 ' March. 2013 the Company was using pre revised Schedule VI to
the Companies Act 1956. tor expiration and presentation of its
financial statements. During the year ended 31'' March. 2014 the
Revised Schedule VI notify under the Companies Act. 1956 has become
applicable to the company. The Company has re classified previous year
figures as well as those in the bracket to confirm to this year's
classification as per revised Schedule VI. The adoption ol revised
Schedule VI does not impact recognition and measurement principles
followed for preparation if financial statements. Howe r its
significantly impacts presentation and disclosure made in the financial
statements, particularly presentation of Balance Sheei.
Mar 31, 2013
NOTE 1.
Based on the information / documents available with the Company, no
creditor is covered under Micro, Small and Medium Enterprise
Development Act, 2006. As a result, no interest provision/payments have
been made by the Company to such creditors, if any, and no disclosures
thereof are made in these accounts.
NOTE 2.
Loans, advances and sundry debtors and sundry creditors balances are
subject to confirmation by the respective parties
NOTE 3.
Segment Report :
The Company is engaged in the business of Non-Banking Financial
Services and there are no separate reportable segments as per
Accounting Standard 17.
NOTE 4.
Provision for Outstanding Standard Assets have been made @ 0.25% as per
RBI Circular No.: DNBPS.PD.CC.No. 207/03.02.002 /2010-11 dated:
17-01-2011
NOTE 5.
No Provision has been made on account of gratuity as none of the
employees have put in completed years of Service as required by the
Payment of Gratuity Act.
NOTE 6.
No provision has been made on account of leave salary as there are no
leave to the credit of employees as at the end of the year.
NOTE 7.
Previous Year figures have been regrouped, rearranged or recasted
wherever considered necessary.
NOTE 8.
Information's required to be furnished under paragraph 9BB of
Non-Banking Financial Companies Prudential Norms (Reserve Bank)
Directions, 1998 is given in separate Annexure. NOTE 28
Till 31st March, 2012 the Company was using pre revised Schedule VI to
the Companies Act 1956, for preparation and presentation of its
financial statements. During the year ended 31 St March, 2013 the
Revised Schedule VI notified under the Companies Act, 1956 has become
applicable to the company. The Company has re classified previous year
figures as well as those in the bracket to confirm to this year's
classification as per revised Schedule VI. The adoption of revised
Schedule VI does not impact recognition and measurement principles
followed for preparation of financial statements. However its
significantly impacts presentation and disclosure made in the financial
statements, particularly presentation of Balance Sheet.
Mar 31, 2012
NOTE 1.
Based on the information / documents available with the Company, no
creditor is covered under Micro, Small and Medium Enterprise
Development Act, 2006. As a result, no interest provision/payments have
been made by the Company to such creditors, if any, and no disclosures
thereof are made in these accounts.
NOTE 2 Loans, advances and sundry debtors and sundry creditors
balances are subject to confirmation by the respective parties
NOTE 3 Segment Report:
The Company is engaged in the business of Non-Banking Financial
Services and there are no separate reportable segments as per
Accounting Standard 17.
NOTE 4 Provision for Outstanding Standard Assets have been made @
0.25% as per RBI Circular No.: DNBPS.PD.CC.No. 207/03.02.002/2010-11
dated: 17-01-2011
NOTE 5 No Provision has been made on account of gratuity as none of
the employees have put in completed years of Service as required by the
Payment of Gratuity Act.
NOTE 6 No provision has been made on account of leave salary as there
are no leave to the credit of employees as at the end of the
NOTE 7 Previous Year figures have been regrouped, rearranged or
recasted wherever considered necessary.
NOTE 8 Informations required to be furnished under paragraph 9BB of
Non-Banking Financial Companies Prudential Norms (Reserve Bank)
Directions, 1998 is given in separate Annexure.
NOTE 9
Till 31st March, 2011 the Company was using pre revised Schedule VI to
the Companies Act 1956, for preparation and presentation of its
financial statements. During the year ended 31st March, 2012 the
Revised Schedule VI notified under the Companies Act, 1956 has become
applicable to the company. The Company has re classified previous year
figures as well as those in the bracket to confirm to this year's
classification as per revised Schedule VI. The adoption of revised
Schedule VI does not impact recognition and measurement principles
followed for preparation of financial statements. However its
Mar 31, 2011
1) The Quantitative Details of opening Stock, Purchase, Sales and
Closing Stock [ Pursuant to Part II of schedule VI to the companies
act, 1956 ] This clause is not applicable as there are no transactions.
2) In the opinion of the Board of Directors of the Company, the Current
Assets. Loans and Advances have value on realization in the ordinary
course of business, at least equal to the amount at which they have
been stated in the Balance Sheet.
3) The balance of banks, loans & advances are subject to confirmation.
4) as per prudential norms prescribed by Reserve Bank of India.
5) In terms of AS 17 of the Institute of Chartered Accountants of
India, Segment information has not been given as the entire business
activities of Investments in Shares & Securities and Loans & Advances
considered as one business segment.
6) Contingent Liabilities as NIL .( P.Y. NIL )
7) The Company has not recognized Deferred Tax while preparing the
accounts of the current year, as there is no difference between Book
and Taxable Profit.
8) The previous year's figures have been reworked, regrouped,
rearranged and reclassified wherever found necessary.
9) Earning/expenditure in foreign Currency NIL ( P.Y.NIL )
10) There are no micro, small and medium enterprises, to whom the
company ownes dues, which are outstanding for more than 45days as at
31st march 2011 .The information as required to be disclosed under the
micro, small and medium enterprises development Act, 2006 has been
determined to the extend such parties have been identified on the basis
of intimation available with the company.
11) Schedule to the Balance Sheet as on 31st'March 201! of a Non
Banking Financial Company is annexed (Annexure-A)
12) Schedule 1 to 13 annexed herewith are forming part of the Balance
Sheet and Profit & Loss Account.