Mar 31, 2016
(D) Right and Preferences of Equity Share holders
Each shareholder is entitled for one vote per share. The shareholders have the right to receive interim dividends declared by the Board of Directors and final dividend proposed by the Board of Directors and approved by the shareholders.
In the event of liquidation by the Company, the shareholders will be entitled in proportion to the number of equity shares held by them to receive remaining assets of the Company, after distribution of all preferential amounts.
(E) Shares held by and Shareholder holding more than 5%
1 Segment Reporting:
The Company has identified three reportable segments viz. Trading in Securities, Financing Activity and Advisory Services. These segments have been identified and reported taking into account nature of product and services, the different risks and returns and internal business reporting system. The accounting policies adopted for segment reporting are in line with accounting policy of the Company with additional policies for segment reporting:
a) Revenue and expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which relates to enterprise as a whole and are not allocable to a segment on reasonable basis have been considered and disclosed as unallocable.
b) Segment assets and liabilities represent assets and liabilities in respective segments. Investment, tax related Assets and other Assets and Liabilities that cannot be allocated to a segment on reasonable basis have been considered and disclosed as unallocable.
2 The information as required by Accounting Standard 18 relating to ''Related Party Disclosures'' is given below:
A. List of Related Parties
(As Identified by the Management)
i) Individuals / Enterprises Controlling the Company & their Relatives
a) Controlling Shareholder Mr. Mangalprabhat Lodha
b) Ultimate Holding Company
Sambhavnath Infrabuild and Farms Pvt. Ltd. (Holding company of LDPL)
c) Holding Companies
Lodha Developers Pvt. Ltd. (LDPL) (Holding company of APPL)
Arihant Premises Pvt. Ltd. (APPL) (Holding company)
ii) Entities as at 1st April, 2015
a) Fellow Subsidiaries
Aanant Developers Pvt. Ltd.
Adinath Builders Pvt. Ltd.
Ajitnath Hi-Tech Builders Pvt. Ltd. (Demerged with Shri Kaiilas Properties and Agrofarms Pvt. Ltd. w.e.f. 02-April-16, Appointed date being 01-April-15)
Anantnath Constructions And Farms Pvt. Ltd.
Bellissimo Hi-Rise Builders Pvt. Ltd. (Formerly known as Lodha Hi-Rise Builders Pvt. Ltd.)
Cowtown Land Development Pvt. Ltd.
Dalhousie Leasing And Financial Services Private Limited Hi-Class Buildcon Pvt. Ltd.
Hotel Rahat Palace Pvt. Ltd.
Ishwer Realty and Technologies Pvt. Ltd.
Jawala Real Estate Pvt. Ltd.
Kidderpore Holdings Ltd.
Krona Realties Pvt. Ltd. (merged with Sarvavasa Buildtech and Farms Pvt. Ltd. w.e.f. 08-April-2016, Appointed date being 01-November-14)
Kundan Realtors Pvt. Ltd.
Lodha Aviation Pvt. Ltd.
Lodha Buildcon Pvt. Ltd.
Lodha Building and Construction Pvt. Ltd.
Lodha Crown Buildmart Pvt. Ltd.
Lodha Designer Construction Pvt. Ltd. (merged with Shree Sainath Enterprises Construction and Developers Pvt. Ltd. w.e.f 25-May-16, Appointed date being 01-November-15)
Lodha Developers 1GSQ Ltd.
Lodha Developers 48CS Ltd.
Lodha Developers Dorset Close Ltd.
Lodha Developers International (Jersey) I Holdings Ltd.
Lodha Developers International (Jersey) III Ltd.
Lodha Developers International (Netherlands) B. V.
Lodha Developers International Holding Ltd.
Lodha Developers International Ltd.
Lodha Developers UK Ltd.
Lodha Elevation Buildcon Pvt. Ltd.
Lodha Estate Pvt. Ltd.
Lodha Home Developers Pvt. Ltd. (merged with Shree Sainath Enterprises Construction and Developers Pvt. Ltd. w.e.f 25-May-16, Appointed date being 01-November-15)
Lodha Ideal Buildcon Pvt. Ltd. (merged with Suryakrupa Construction Pvt. Ltd. w.e.f. 08-June-16)
Lodha Impression Real Estate Pvt. Ltd.
Lodha Land Developers Pvt. Ltd.
Lodha Properties Development Pvt. Ltd.
Mahavir Premises Pvt. Ltd.
Microtec Constructions Pvt. Ltd.
Nabhiraja Software Design Pvt. Ltd.
National Standard (India) Ltd.
Odeon Theatres and Properties Pvt. Ltd.
Odeon Theatres Pvt. Ltd.
Palava City Management Pvt. Ltd.
Palava Dwellers Pvt. Ltd.
Samvara Buildtech Pvt. Ltd.
Sanathnagar Enterprises Ltd.
Sarvavasa Buildtech and Farms Pvt. Ltd.
Shree Sainath Enterprises Construction and Developers Pvt. Ltd.
Shreeniwas Cotton Mills Ltd.
Siddhnath Residential Paradise Pvt. Ltd.
Simtools Pvt. Ltd.
Sitaldas Estate Pvt. Ltd.
Suryakrupa Constructions Pvt. Ltd.
Tropical Adventures Ltd.
b) Limited Liability Partnership under Contol:
Lodha Fincorp Distribution Services LLP
c) Partnership Firms Under Control:
Mahavir Associates
Vivek Enterprises
iii) Entities added during the From Fellow Subsidiary
Shri Kaiilas Properties & Agrofarms Pvt. Ltd. 16/August/15
iv) Entities ceased / Struck off during the year Upto Fellow Subsidiaries
Manan Finserve Pvt. Ltd. 27-March-2016
Lodha Finserve Pvt. Ltd. (formerly known as Sai Ishwer Finvest Pvt. Ltd.) 27-March-2016
Shreeniwas Abode and House Pvt. Ltd. 04-March-2016
v) Key Management Personnel:
4 Consequent to resignation of Mr. Kuntiprakash Inani as the CFO of the Company during financial year 2015-2016, the Company is in the process of appointing new CFO in terms of Section 203 of the Companies Act, 2013 and rules framed there under.
5 In terms of Accounting Standard 22 ''Accounting for taxes on Income, the Company does not have any deferred tax.
6 Basic and Diluted Earnings per share
7 Balance in certain accounts of trade payables are subject to reconciliation/confirmation.
8 a) previous year figures have been regrouped / rearranged wherever necessary.
b) Figures in brackets are related to previous year.
9) Particulars as per NBFC Directions
Non-Deposit taking Non-Banking Financial Company (As required in terms of paragraph 13 of Non-Banking Financial (Non-Depositing Accepting or Holding) Companies Prudential norms (Reserve Bank) Directions, 2015).
NOTES:
a As defined in paragraph 2(1)(xii) of the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998.
b Non-Deposit taking Non-Banking Financial Company (As required in terms of paragraph 13 of Non-Systemically Important Non-Banking Financial (Non- Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2015).
c All Accounting Standard and Guidance Notes issued by ICAI are applicable including for valuation of investments and other assets as also assets acquired in satisfaction of debt. However, market value in respect of quoted investments and break up / fair value net asset value in respect of unquoted investment should be disclosed irrespective of whether they are classified as long term or current in column(4) above.
Mar 31, 2015
1 Segment Reporting :
The Company has identified three reportable segments viz. Trading in
Securities, Financing Activity and Advisory Services. These segments
have been identified and reported taking into account nature of product
and services, the different risks and returns and internal business
reporting system. The accounting policies adopted for segment reporting
are in line with accounting policy of the Company with additional
policies for segment reporting :
a) Revenue and expenses have been identified to a segment on the basis
of relationship to operating activities of the segment. Revenue and
expenses which relates to enterprise as a whole and are not allocable
to a segment on reasonable basis have been considered and disclosed as
unallocable.
b) Segment assets and liabilities represents assets and liabilities in
respective segments. Investment, tax related Assets and other Assets
and Liabilities that cannot be allocated to a segment on reasonable
basis have been considered and disclosed as unallocable.
2. The information as required by Accounting Standard 18 relating to
'Related Party Disclosures' is given below: A. List of Related Parties
(As Identifed by the Management)
a) Individual Controlling the Company :
Mr. Mangalprabhat Lodha, Controlling Shareholder of the Ultimate
Holding Company
b) Ultimate Holding Company
Sambhavnath Infrabuild and Farms Pvt. Ltd. (Holding company of LDPL
w.e.f. 17-July-2013)
c) Entities as at 1st April, 2014 (unless and otherwise stated): i)
Holding Companies
Lodha Developers Pvt. Ltd. (LDPL) (Holding company of APPL)
Arihant Premises Pvt. Ltd. (APPL) (Holding company)
ii) Fellow Subsidiaries
Aasthavinayak Estate Company Pvt. Ltd. (merged with Lodha Land
Developers Pvt. Ltd. w.e.f. 24-December-14, Appointed date being
1-April-13)
Aasthavinayak Real Estate Pvt. Ltd. (merged with Ajitnath Hi-Tech
Builders Pvt. Ltd. w.e.f. 6-January-15, Appointed date being
1-April-14)
Adinath Builders Pvt. Ltd.
Ajitnath Hi-Tech Builders Pvt. Ltd.
Anantnath Constructions and Farms Pvt. Ltd.
Cowtown Land Development Pvt. Ltd.
Dalhousie Leasing & Financial Services Pvt. Ltd.
Galaxy Premises Pvt. Ltd.
(merged with Palava Dwellers Pvt. Ltd.
w.e.f. 17-February-15, Appointed date being 1-April-13)
Gandhar Builders Pvt. Ltd.
Hi-Class Buildcon Pvt. Ltd.
Hotel Rahat Palace Pvt. Ltd.
International Airport Builders & Management Services Pvt. Ltd. (merged
with Lodha Developers Pvt. Ltd. w.e.f. 27-February-15, Appointed date
being 1-April-13)
Ishwer Realty and Technologies Pvt. Ltd.
Jawala Real Estate Pvt. Ltd.
Kidderpore Holdings Ltd.
Krona Realties Pvt. Ltd.
Kundan Realtors Pvt. Ltd.
Lodha Attentive Developers and Farms Pvt. Ltd. (merged with Lodha
Developers Pvt. Ltd. w.e.f. 27-February-15, Appointed date being
1-April-13)
Lodha Aviation Pvt. Ltd.
Lodha Buildcon Pvt. Ltd.
Lodha Building and Construction Pvt. Ltd.
Lodha Buildtech Pvt. Ltd. (merged with Lodha Developers Pvt. Ltd.
w.e.f. 27-February-15, Appointed date being 1-February-14)
Lodha Crown Buildmart Pvt. Ltd.
Lodha Designer Construction Pvt. Ltd.
Lodha Developers International Ltd.(Formerly known as Lodha Developers
International (Mauritius) Limited)
Lodha Developers International (Netherlands) B. V.
Lodha Developers 48CS Ltd. (Formerly known as Lodha Developers
International (Jersey) Ltd.)
Lodha Developers 1GSQ Ltd. (Formerly known as Lodha Developers
International (Jersey) II Ltd.)
Lodha Developers International (Jersey) I Holdings Ltd.
Lodha Developers UK Ltd.
Lodha Elevation Buildcon Pvt. Ltd.
Lodha Estate Pvt. Ltd.
Lodha Glowing Construction Pvt. Ltd. (merged with Lodha Developers Pvt.
Ltd. w.e.f. 27-February-15, Appointed date being 1-April-13)
Lodha HiÂRise Builders Pvt. Ltd.
Lodha Home Developers Pvt. Ltd.
Lodha Home Styles Pvt. Ltd. (merged with Ajitnath Hi-Tech Builders Pvt.
Ltd. w.e.f. 6-January-15, Appointed date being 1-April-14)
Lodha Impression Real Estate Pvt. Ltd.
Lodha Land Developers Pvt. Ltd.
Lodha Pinnacle Buildtech and Farms Pvt. Ltd.
Lodha Pranik Landmark Developers Pvt. Ltd. (merged with Lodha
Developers Pvt. Ltd. w.e.f. 27-February-15, Appointed date being
1-February-14)
Lodha Prime Buildfarms Pvt. Ltd. (merged with Lodha Developers Pvt.
Ltd. w.e.f. 27-February-15, Appointed date being 1-April-13)
Lodha Properties Development Pvt. Ltd.
Lodha Strategic Development Pvt. Ltd. (merged with Lodha Developers
Pvt. Ltd. w.e.f. 27-February-15, Appointed date being 1-January-14)
Mahavir Build Estate Pvt. Ltd. (merged with Palava Dwellers Pvt. Ltd.
w.e.f. 17-February-15, Appointed date being 1-April-13)
Mahavir Premises Pvt. Ltd.
Manan Finserve Pvt. Ltd.
Microtec Constructions Pvt. Ltd.
Nabhiraja Software Design Pvt. Ltd.
National Standard (India) Ltd.
Naminath Builders and Farms Pvt. Ltd. (merged with Ajitnath Hi-Tech
Builders Pvt. Ltd. w.e.f. 6-January-15, Appointed date being
1-April-14)
Odeon Theatres and Properties Pvt. Ltd.
Palava City Management Pvt. Ltd. (Formerly known as Palava Utilities
Pvt. Ltd.)
Palava Dwellers Pvt. Ltd.
Profcient Buildwell Pvt. Ltd.
Sahajanand HiÂTech Constructions Pvt. Ltd.
Sai Ishwer Finvest Pvt. Ltd.
Sambhavnath Reality and Farms Pvt. Ltd. (merged with Lodha Developers
Pvt. Ltd. w.e.f. 27-February-15, Appointed date being 1-January-14)
Samvara Buildtech Pvt. Ltd.
Sanathnagar Enterprises Ltd.
Sarvavasa Buildtech and Farms Pvt. Ltd.
Shantinath Designer Construction Pvt. Ltd. (merged with Ajitnath
Hi-Tech Builders Pvt. Ltd. w.e.f. 6-January-15, Appointed date being
1-April-14)
Shree Sainath Enterprises Construction and Developers Pvt. Ltd.
Shreeniwas Abode and House Pvt. Ltd. (demerged with Shreeniwas Cotton
Mills Ltd. w.e.f. 20-February-15, Appointed date being 1-April-13)
Shreeniwas Cotton Mills Ltd.
Shri Nakoda Bhirav Realtors Pvt. Ltd.
Shri Vardhvinayak Builders Pvt. Ltd. (merged with Ajitnath Hi-Tech
Builders Pvt. Ltd. w.e.f. 6-January-15, Appointed date being
1-April-14)
Siddhnath Residential Paradise Pvt. Ltd.
Simtools Pvt. Ltd.
Sitaldas Estate Pvt. Ltd.
Suryakrupa Constructions Pvt. Ltd. iii) Limited Liability Partnerships
under Contol:
Lodha Fincorp Distribution Services LLP
iv) Partnership Firms Under Control:
Lodha Construction (Dombivli) (merged with Lodha Developers Pvt. Ltd.
w.e.f. 27-February-15, Appointed date being 1-April-13)
Lodha Palazzo (merged with Lodha Developers Pvt. Ltd. w.e.f.
27-February-15, Appointed date being 1-January-14)
Mahavir Associates
Vivek Enterprises
3. In terms of Accounting Standard 22 'Accounting for taxes on Income,
the Company does not have any deferred tax liability.
4. Lease:
Disclosures in accordance with the Accounting Standard 19- "Leases" are
given below: Assets taken on cancellable lease:
a) The Company has taken commercial premises under cancellable
Operating Lease. The Lease Agreement is usually renewable by mutual
consent on mutually agreeable terms.
b) The rental expenses in respect of cancellable Operating Lease is
charged as rent amounting to Rs. 4.29 lakhs (previous year Rs. 16.45 lakhs)
under Note 22.
Particulars as per NBFC Directions
Non-Deposit taking Non-Banking Financial Company (As required in terms
of paragraph 13 of Non-Banking Financial (Non- Depositing Accepting or
Holding) Companies Prudential norms (Reserve Bank) Directions, 2007).
NOTES :
a As defned in paragraph 2(1)(xii) of the Non-Banking Financial
Companies Acceptance of Public Deposits (Reserve Bank)
Directions, 1998. b Provisioning norms shall be applicable as
prescribed in Non-Banking Financial (Non- Deposit Accepting or Holding)
Companies Prudential Norms (Reserve Bank) Directions, 2007.
Mar 31, 2014
1 Segment Reporting :
The Company has identified two reportable segments viz. Trading in
Securities and Financing Activity in the previous year. These segments
have been identified and reported taking into account nature of product
and services, the different risks and returns and internal business
reporting system. The accounting policies adopted for segment reporting
are in line with accounting policy of the Company with additional
policies for segment reporting :
a) Revenue and expenses have been identified to a segment on the basis
of relationship to operating activities of the segment. Revenue and
expenses which relates to enterprise as a whole and are not allocable
to a segment on reasonable basis have been considered and disclosed as
unallocable.
b) Segment assets and liabilities represents assets and liabilities in
respective segments. Investment, tax related Assets and other Assets
and Liabilities that cannot be allocated to a segment on reasonable
basis have been considered and disclosed as unallocable.
2 The information as required by Accounting Standard 18 relating to
''Related Party Disclosures'' is given below:
A. List of Related Parties
(As identified by the Management)
a) Individual Controlling the Company :
Mr. Mangalprabhat Lodha, Controlling Shareholder of the Ultimate
Holding Company
b) Ultimate Holding Company
Sambhavnath Infrabuild and Farms Private Limited (Holding company of
LDPL w.e.f. 17-July-2013)
c) Entities as at 10th June, 2013 (unless and otherwise stated) : i)
Holding Companies
Lodha Developers Private Limited (LDPL) (Holding company of APPL)
Arihant Premises Private Limted (APPL) (From 10th June, 2013) Poonam
Fast Foods Private Limited (Upto 9th June, 2013) ii) Fellow
Subsidiaries
Aasthavinayak Estate Company Private Limited
Aasthavinayak Real Estate Private Limited
Adinath Builders Private Limited
Ajitnath HiÂTech Builders Private Limited
Anantnath Constructions and Farms Private. Ltd.
Cowtown Land Development Private Limited
Dalhousie Leasing and Financial Services Private Limited
Galaxy Premises Private Limited
Gandhar Builders Private Limited
HiÂClass Buildcon Private Limited
Hotel Rahat Palace Private Limited
International Airport Builders & Management Services Private Limited
Jawala Real Estate Private Limited
Kidderpore Holdings Limited
Krona Realties Private Limited
Kundan Realtors Private Limited
Lodha Attentive Developers and Farms Private Limited
Lodha Buildcon Private Limited
Lodha Building and Construction Private Limited
Lodha Crown Buildmart Private Limited
Lodha Designer Construction Private Limited
Lodha Developers UK Limited
Lodha Elevation Buildcon Private Limited
Lodha Estate Private Limited
Lodha Glowing Construction Private Limited
Lodha HiÂRise Builders Private Limited
Lodha Home Developers Private Limited
Lodha Home Styles Private Limited
Lodha Impression Real Estate Private Limited
Lodha Land Developers Private Limited
Lodha Pinnacle Buildtech and Farms Private Limited
Lodha Prime Buildfarms Private Limited
Macrotech Constructions Private Limited
Mahavir Build Estate Private Limited
Mahavir Premises Private Limited
Manan Finserve Private Limited
Microtec Constructions Private Limited
Nabhiraja Software Design Private Limited
Naminath Builders and Farms Private Limited
National Standard (India) Limited
Odeon Theatres and Properties Private Limited
Palava Dwellers Private Limited (Formerly known as Lodha Dwellers
Private Limited)
Palava Utilities Private Limited
Profcient Buildwell Private Limited
Sahajanand HiÂTech Constructions Private Limited
Sai Ishwer Finvest Private Limited
Samvara Buildtech Private Limited
Sanathnagar Enterprises Limited
Sarvavasa Buildtech and Farms Private Limited
Shantinath Designer Construction Private Limited
Shreeniwas Abode and House Private Limited
Shreeniwas Cotton Mills Limited
Shri Kailash Properties and Agrofarms Private Limited
Shri Nakoda Bhirav Realtors Private Limited
Shri Vardhvinayak Builders Private Limited
Siddhnath Residential Paradise Private Limited
Simtools Private Limited
Sitaldas Estate Private Limited
Suryakrupa Constructions Private Limited (Formerly known as Suryakrupa
Farms and Constructions Private Limi iii) Limited Liability
Partnerships under Contol:
Ajeethnath Hi  Tech Buildtech LLP
Lodha Dwellerz LLP
Lodha Fincorp Distribution Services LLP iv) Partnership Firms Under
Control:
Lodha Construction (Dombivli)
Lodha Palazzo
Mahavir Associates
Vivek Enterprises
d) Entities added during the year
Fellow Subsidiaries From
Lodha Buildtech Private Limited 01-July-2013
Lodha Pranik Landmark Developers Private Limited 01-July-2013
Lodha Properties Development Private Limited 17-July-2013
Lodha Aviation Private Limited 21-August-2013
Palava City Management Association (Section 25 Company)
06-November-2013
Lodha Developers International (Mauritius) Limited 25-November-2013
Shree Sainath Enterprises Construction and Developers Private Limited *
28-November-2013
Lodha Developers International (Jersey) Limited 05-December-2013
Ishwer Realty and Technologies Private Limited 26-December-2013
Sambhavnath Reality and Farms Private Limited 31-December-2013
Lodha Strategic Development Private Limited 31-December-2013
Lodha Developers International (Jersey) II Limited 29-January-2014
Lodha Developers International (Netherlands) B. V. 03-March-2014
Lodha Developers International (Jersey) I Holdings Limited
05-March-2014
f) Key Management Personnel:
Nilesh Rawat * converted into Private Limited Company under the
provisions of part IX of the Companies Act, 1956.
4 In terms of Accounting Standard 22 ''Accounting for taxes on Income,
the Company does not have any deferred tax liability.
5 Lease:
Disclosures in accordance with the Accounting Standard 19- "Leases" are
given below: Assets taken on cancellable lease:
a) The Company has taken commercial premises under cancellable
Operating Lease. The Lease Agreement is usually renewable by mutual
consent on mutually agreeable terms.
b) The rental expenses in respect of cancellable Operating Lease is
charged as rent amounting to Rs. 16.45 lakhs (previous year Rs. 26.18
lakhs) under Note 23.
2 In the opinion of the management, the assets other than fixed assets
have a value on realisation in the ordinary course of business at least
equal to the amount at which they are stated.
3 Balance in certain accounts of trade payables are subject to
reconciliation/confirmation
4 a) Previous year figures have been regrouped / rearranged wherever
necessary. b) Figures in brackets are related to previous year.
Mar 31, 2013
1 Balance in certain accounts of Trade Payables and Loans and Advances
given are subject to reconciliation / confi rmation, In the opinion of
the management, the difference as may be noticed on such reconciliation
will not be material.
2 In the opinion of the Management, the assets other than fi xed assets
and current investments have a value on realisation in the ordinary
course of business at least equal to the amount at which they are
stated.
3 Segmentation Reporting :
In the opinion of the management, the Company is mainly engaged in the
business of NBFC. All other activities of the Company revolve around
the main business, and as such there are no separate reportable segment
as defi ned by Accounting Standard - 17 " Segment Reporting " Issued by
the Institute of Chartered Accountants of India.
4 a. List of related parties with whom transactions have taken place
during the year.
(i) Control Exists : Nil
(ii) Companies Controlled by Directors / Relatives : Nil
(iii) Key Management Personnel : 1. Shri Deependra Gupta
2. Shri Sagar Gawde
b. Transactions during the year ended 31st March, 2013 (at arm''s
length) and Balances Outstanding as at 31st March, 2013 with related
parties are as follows:
- Nil -
5 As the Company has only one segment reporting in terms of Accounting
Standard 17 as notifi ed under the Companies (Accounting Standard)
Rules, 2006, is not applicable.
6 Disclosure in respect of Operating lease (AS-19): Assets taken on
cancellable lease:
a. The Company has taken commercial premises under cancellable
Operating Lease. The Lease Agreement is usally renewable by mutual
consent on mutually agreeable terms.
b. The rental expenses in respect of cancellable Operating Lease is
charged as rent amounting to Rs.6,77,811/- (previous year Rs. Nil )
under Note 20.
7 The revised Schedule VI has become effective from 1st April, 2011 for
the preparation of fi nancial statements. This has signifi cant
impacted the disclosure and presentation made in the fi nancial
statements. Accordingly, the Company has reclassifi ed the previous
year fi gure to this year classifi cation. The adoption of revised
Schedule VI does not impact revenue recognition and measurement
principles followd for preparation of Financial statements.
Mar 31, 2012
(a) Rights and Preferences of Shareholders
Each Shareholder is entitled for one vote per share. The shareholders
have the right to receive interim dividends declared by the Board of
Directors and final dividend proposed by the Board of Directors and
approved by the shareholders.
In the event of liquidation, the shareholders will be entitled in
proportion to the number of equity shares held by them to receive
remaining assets of the Company, after distribution of all preferential
amounts.
1 Balance in certain accounts of Trade Payables and Loans and Advances
given are subject to reconciliation / confirmation, In the opinion of
the management, the difference as may be noticed on such reconciliation
will not be material.
2 in the opinion of the Management, the assets other than fixed assets
and current investments have a value on realisation in the ordinary
course of business at least equal to the amount at which they are
stated.
b. Transactions during the year ended 31st March, 2012 (at arm''s
length) and Balances Outstanding as at 31st March, 2012 with related
parties are as follows:
- Nil -
3 As the Company has only one segment reporting in terms of Accounting
Standard 17 as notified under the Companies (Accounting Standard)
Rules, 2006, is not applicable.
4 Disclosure in respect of Operating lease (AS-19):
Assets taken on cancellable lease:
a. The Company has taken commercial premises under cancellable
Operating Lease. The Lease Agreement is usally renewable by mutual
consent on mutually agreeable terms.
b. The rental expenses in respect of cancellable Operating Lease is
charged as rent amounting to Rs.6,77,811/- (previous year Rs. Nil)
under Note 20.
5 The revised Schedule VI has become effective from 1st April, 2011
for the preparation of financial statements. This has significant
impacted the disclosure and presentation made in the financial
statements. Accordingly, the Company has reclassified the previous year
figure to this year classification. The adoption of revised Schedule VI
does not impact revenue recognition and measurement principles followd
for preparation of Financial statements.
Mar 31, 2011
1. Paisa are rounded up to the nearest rupee. Previous year figure
are regrouped and rearranged wherever necessary.
2. Auditors Remuneration
3. confirmation.
The audit has been carried out on the basis of the fresh computerized
output
4. reconciled.
5. The Company has advised that the computation of the net profit
under section 349 of the Companies Act, 1956 need not be made since no
remuneration commission is paid payable under Section 348 of the
Companies Act,1956 for the year ended 31st March,2011.
6. In the opinion of the Board of Directors, Current Assets, Loans &
Advances are realizable in the ordinary course of business at the value
at which are stated.
7. Schedule "A" to "S" forms the integral part of the Balance Sheet
as at 31st March, 2011. and the Profit & Loss Account for the year
ended on that date.
8. Segmentation Reporting: In the opinion of the management the
company is mainly engaged in the business of NBFC. All other activities
of the Company revolve around the main business, and as such there are
no separate reportable segment as defined by Accounting Standard -17 "
Segment Reporting " Issued by the Institute of Chartered Accountants of
India.
9. Earning Per Shares (AS 20):
Earning Per Shares (ERP) computed in accordance with Accounting
Standard - 20 (AS-20) issued by the Institute of Chartered Account of
India.
Accounting for Taxes of
10. Income:
a. Provision for Current Tax is made on the basis if the amount of tax
payable on taxable income for the year in accordance with the Income
Tax Act,1961
b. The Company has got unabsorbed depreciation and carry forward
losses under tax Laws and there is not virtual certainty supported by
convincing.
11. We have verified the vouchers and documentary evidence wherever
made available. Where no documentary evidences were available, we
relied on the authentication given by the management.
Mar 31, 2010
1. Additional information pursuant to provisions of paragraphs 4C,3
and 40 of part II of Schedule VI to the Companies Act 1956 (Information
given to the extent applicable)
a. Licensed Capacity Not Applicable
b. Installed Capacity Not Applicable
d. Value of good imported on CIF NIL NIL
e. Value of export calculated on FOB Value NIL NIL
f. Value of other earning in Foreign Exchange NIL NIL
2. Expenditure incurred on employees who are in receipt of
remuneration on the aggregate of not less than Rs. 24,00,0001- per
annum if employed throughout the year and of Rs. 2,00,0001- per month
if employed for part of the year
2009-2010 2008-2009
No. of Employees NIL NIL
Amount paid NIL NIL
3. Balance of sundry creditors, debtors, loans and advances are
subject to confirmation
4. The audit has been carried out on the basis of the fresh
computerized output reconciled
5. The Company has advised that the computation of the net profit
under section 349 of the Companies Act 1956 need not be made since no
remuneration commission is paid payable under section 348 of the
Companies Act, 1956 for the year ended 31st March 2010.
6. In the opinion of the Board of Directors, Current Assets, Loans &
Advances are realizable in the ordinary course of business at the value
at which they are stated.
7. Schedule "A" to "R" forms the integral part of the Balance Sheet
as at 31st March 2010 and the Profit & Loss Account for the year ended
on that date.
8. Segmentation Reporting :
In the opinion of the management the company is mainly engaged in the
business of NBFC. All other activities of the Company revolve around
the main business, and as such there are no separate reportable segment
as defined by Accounting Standard -17 " Segment Reporting" Issued by
the Institute of Chartered Accountants of India.
9. Related party Disclosures :
List of related parties with whom transactions have taken place during
the year.
a. Key Management Personnel : 1. Shri Deependra Gupta
2. Shri Sagar Gawde
b. Companies controlled by : Shri. Deependra Gupta
Directors/Relatives Roselabs Finance Limited
Suvidhinath Buildtech Private
Limited
Benchmark Infracon Private Limited
Susima Infotech Private Limited
Suryakrupa Farms & Constructions
Pvt. Ltd.
Vamadevi Developers & Farms
Private Limited
Suvrata Infrabuild & Farms
Private Limited
Suvidhinath Quality Construction
Pvt. Ltd.
Susima Buildtech & Farms Private
Limited
Alankit Builders & Developers
Private Limited
Kunthunath Facilities Management
Pvt. Ltd.
Saikrupa Infotech Private Limited
Shankarparvati Reality & Agro
Private Limited
Lodha And Nagotra Builders Private
Limited
Shantipriya Developers & Farms
Private Limited
Shivchhaya Developers & Farms
Pvt. Ltd.
Sumangla Developers & Farms
Private Limited
Munisuvrata Constructions &
Farms Pvt. Ltd.
Mallinath Reality & Agro Private
Limited
Maheshvilla Developers & Farms
Pvt. Ltd.
Sanathnagar Enterprises Limited
Avaya Holdings and Trading Private
Limited
National Standard (India) Limited
Shri. Sagar Gawde Roselabs Finance Limited
Suvidhinath Buildtech Private
Limited
Kritika Infrabuild & Farms Private
Limited
Ambeshwari Buildtech & Farms
Private Limited
Rushabhnath Constructions & Farms
Pvt.Ltd.
Alankit Builders & Developers
Private Limited
Light House Estate Private Limited
Shivchhaya Developers & Farms
Pvt.Ltd.
Munisuvrata Constructions &
Farms Pvt Ltd.
Meghal Homes Private Limited
Sanathnagar Enterprises Limited
Shri Gajanand Builders Private
Limited
Shri. Samyak Veera Poonam Fast Foods Private Limited
Vyanjan Hotela Private Limited
Roselabs Finance Limited
10. Accounting for Taxes of Income
a. Provisions for current tax is made on the basis if the amount of
tax payable on taxable income for the year in accordance with the
Income Tax Act -1961
b. The Company has got unabsorbed depreciation and carry forward
losses under tax laws under tax laws and there is not virtual certainty
supported by convincing
11. We have verified the vouchers and documentary evidences wherever
made available. Where no documentary evidences were available, we
relied on the authentication given by the management.
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