Jun 30, 2015
1.RELATED PARTY DISCLOSURE
As per Accounting Standard 18, the disclosures of transactions with the
related parties are given below :
a List of Related Parties. (as identified and certified by the
Management)
S.N Name of the Related Party Relationship
o.
1 Shri Raghunandan Prasad Key Managerial Personnel
2 Shri Rajat Prasad Key Managerial Personnel
3 Mrs. P.S.Prasad Key Managerial Personnel
4 Mrs. Minu Tondon Key Managerial Personnel
5 Shri Monojit Bose Key Managerial Personnel
6 Shri Manish Agarwal Key Managerial Personnel
7 Shri Anurag Awasthi Key Managerial Personnel
8 Shri Sumit Kumar Sharma Key Managerial Personnel
9 Shri Tapas Shankar Das Gupta Key Managerial Personnel
10 Shri Tapas Kumar Biswas Key Managerial Personnel
11 Shri Jeetesh Kumar Key Managerial Personnel
12 Shri Sandeep Kumar Dhall Key Managerial Personnel
b Transactions during the year with related parties.
Remuneration Key Managerial Personnel Rs 71,98,456
Amount Due from us as Key Managerial Personnel Rs 79,92,000
Amount Due to us as Associate Company Rs 4,99,673
2. Previous year's figures has bee n regrouped and rearranged wherever
consi dered necessary so as to make them comparable with those of the
current year.
3. Micro, Small and Medium Enterprises Development Act, 2006
On the basis of information and record available with the Management,
the following disclosure pursuant to the above Act are made for the
amount due to the Micro and small Enterprises, who have registered with
the competent authorities :
4. The accounts of Two Subsidiaries of RR Financial Consultants Ltd,
Two Subsidiaries of R R Equity Brokers Private Limited, One Subsidiary
of RR Investors Capital Services private limited and One subsidiary of
RR Infra Estate Private Ltd., whose financial year closes on 31st March
2015 have been prepared for the year ended on 30th June 2015 for the
purpose of consolidation.
5. As per the management all fees are received from financ ial services
and capital markets. Therefore, in accord ance with Accounting Standard
17 issued by The Institute of Chartered Accountants of India (AS17) on
segment reporting, financial services is the only reportable business
segments and cannot be segregated. In the circumstances segment
information required by AS 17, cannot be furnished.
6. The management has not provided / account for deferred tax liability
/ assets in hold! ng company, in accordance with the Accounting
Standards 22 issued by The Institute of Chartered Accountants of India
(AS22) on 'Accounting for Taxes on Income' as the same is not expected
to be realized in the foreseeable future.
7. Foreign Currency Transactions
Expenditure incurred in Foreign Currency Nil
Income in Foreign Currency Nil
Other Receipts Nil
8. Contingent Liabilities and Commitments.
(to be extent not provided for)
(i) Contingent Liabilities shall be classified as :
(a) Claims against the company not acknowledged as debts 2043 Lacs
(b) Bank guarantees outstanding*
Against Loan 1300 Lacs
Against Margin of stock Exchange 900 Lacs
(c) Other money for which the company is contingently liable NIL
(i i) Commitments shall be classified as :
(a) Estimated amount of contracts remaining to
be executed on capital amount and not provided for NIL
(b) Uncalled liability on shares and other investments NIL
party paid
(c) Other commitments (specify nature) . NIL
9. During the year, pursuant to the provisions of Schedule II to the
companies Act, 2013 with effect from 1st April 2014, the Company has
revised the estimated useful life of the Assets as mentioned in Note no
1(d) (ii & iii). Pursuant to the transition provisions prescribed in
Schedule II to the Companies Act, 2013, the Company has fully
depreciated the carrying Value of assets (net of residual value), where
the remaining useful life of the asset was determined to be Nil as on 1
st April, 2014 and has been adjusted to the opening retained earnings.
For the other assets the carrying amount as on 1st April 2014 will be
amortized over the remaining useful life of assets. As a result:-
10. An amount of Rs. 15,81,677/- has been recognized to the opening
retained earnings as on 1st April, 2014.
11. Depreciation expense for the year ended 30th June is lower by Rs
3,40,948/-
12. All Parties Accounts and bank accounts are subject to confirmation.
13. Balance with Bank in deposit accounts include deposit of 5000000/- (
previous year Rs 5000000/- under lien with IRDA)
14. In one of the subsidiary which is NBFC Management has classified all
Advances/Loans given as standard Assets as in its opinion and as per
stipulations of contract all advances/Loans including Interest are
payable on demand.
15. Extraordinary items for the current year is Rs.1,63,97,052, includes
amount paid for claim and damages.
16. No provision has been made for amoun t of Rs 3 Crore Paid against
claim by a Investor as same is recoverable from issuer company.
17. No provision has been for Sundry debtors more than 6 month ( as
shown In note no 16 ) which includes revenues provided on estimated
basis in the earlier years as mentioned in Accounting Policy of the
financial statements as steps is being taken by the management to
reconcile and recover the amount.
Jun 30, 2014
Key Management Personnel
RAJAT PRASAD MANAGING DIRECTOR
RAGHUNANDAN PRASAD DIRECTOR
PRIYANKA SINGH DIRECTOR
1 Contingent Liabilities and Commitments
(to be extent not provided for)
(i) Contingent liabilities shall be classified as:
(a) Claims against the company not acknowledged as debts; Nil
(b) Bank guarantees outstanding against Loan for 400 Lacs
subsidiary Co.
(c) Bank guarantees outstanding against Stock Exchange 900 Lacs
for subsidiary Co.
(d) Other money for which the company is contingently liable Nil
(ii) Commitments shall be classified as:
(a) Estimated amount of contracts remaining to be executed Nil
on capital account and not provided for;
(b) Uncalled liability on shares and other investments Nil
partly paid
(c) Other commitments (specify nature) Nil
2 Segment Reporting
As per the management all fees are received from financial services and
capital market. Therefore in accordance with accounting standard 17 on
segment reporting, financial services is the only reportable business
segment and cannot be segregated. In the circumstances segment
information required by AS 17 of the Institute of Chartered Accountants
of India, cannot be furnished.
3 Micro, Small and Medium Enterprises Development Act, 2006
On the basis of information and record available with the Management,
the following disclosure pursuant to the above Act are made for the
amounts due to the Micro and Small Enterprises, who have registered
with the competent authorities:
4 Foreign Currency Transaction
Expenditure incurred in Foreign Currency Nil
Income in foreign currency Nil
Other information Nil
35 DEFERRED TAX
The management has not provided / accounted for deferred tax liability
/ assets in terms of accounting standard (A.S-22) on ''Accounting for
Taxes on Income'' issued by the Institute of Chartered Accountants of
India as the same is not expected to be realized in the foreseeable
future.
5 Parties accounts whether are debit or credit are subject to
reconciliati on and confirmation.
6 Inoperative Bank accounts are subjected to confirmation.
Previous year figures are regrouped and rearrange wherever necess ary
so as to make them comparable with those of the current year.
Jun 30, 2013
Basis of Preparation of Financial Statements
The accounts have been prepared on a going conce rn basis according to
the hi storical cost convention according to th e accrual system of
accounting materially comply with the mandatory accounting statements
and standards issued by the Institute of Chartered Accountants of India
and the relevant presentational requirements of the Companies Act,
1956. The significant accounting policies followed by the company are
as follows:
1 Segment Reporting
As per the management all fees are received from financial services and
capital market. Therefore in accordance with acc ounting standard 17 on
segment reporting, financial services is the only reportable business
segment and cannot be segregated. In the circumstances segment
information required by AS 17 of the Institute of Chartered Accountants
of India, cannot be furnished.
2 DEFERRED TAX
The management has not provided / accounted for deferred tax liability
/ assets in terms of accounting standa rd (A.S. Â 22) on ''Accounting
for Taxes on Income'' issued by the Institute of Chartered Accountants
of India as the same is not expected to be realized in the foreseeable
future.
3 Parties accounts whether is debit or credit are subject to
reconciliation and confirmation.
4 Previous year figures are regrouped and rearrange wherever necessary
so as to make them comparable with those of the current year.
nil
Jun 30, 2011
1. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES
Provision is made for all known liabilities except contingent
liabilities that are disclosed at their estimated value as detail
below:-
(a) Bank guarantees outstanding (30 June, 2011 - Rs. 2550 Lac).
(b) Capital commitments net of Advances (30 June, 2011 - Rs. Nil).
2. DEFERRED TAX
The management has not provided / accounted for deferred tax liability
/ assets in terms of accounting standard (A.S. - 22) on Accounting for
Taxes on Income' issued by the Institute of Chartered Accountants of
India as the same is not expected to be realized in the foreseeable
future.
3. SEGMENT REPORTING
As per the management all fees are received from financial services and
capital market. Therefore in accordance with accounting standard 17 on
segment reporting, financial services is the only reportable business
segment and cannot be segregated. In the circumstances segment
information required by AS 17 of the Institute of Chartered Accountants
of India, cannot be furnished.
4. RELATED PARTY DISCLOSURES
List of Related Parties (as identified and certified by the Management)
Parties where control exists Relationship
RR Investors Capital Services (P) Ltd Subsidiary
RR Insurance Brokers (P) Ltd Subsidiary
Arix Consultants (P) Ltd Subsidiary
RR Equity Brokers (P) Ltd. Subsidiary
RR Fincap (P) Ltd. Subsidiary
RR Infra Estates (P) Ltd. Subsidiary
Associates Companies
RR Investor Securities Trading (P) Ltd.
RR Commodity Brokers (P) Ltd.
RR IT Solutions (P) Ltd.
RR Information & Investment Research (P) Ltd.
RR Land Estates (P) Ltd.
RR Investor Distribution Company (P) Ltd.
Lakshminarayan Infra Estates Pvt. Ltd.
RR Investor Retail Services (P) Ltd.
Key Management Personnel
Rajat Prasad Managing Director
Raghunandan Prasad Director
5 Share Trading (Net) Rs 64,03,009/- has been shown after deducting
purchases of Shares/debenture of Rs. 22,444,616/- from sale of
ShareDebenture of Rs 28,847,625/-.
6 Dividend paid amounting of Rs 55,30,350/- was approved by the members
in the AGM held on 31-12-2010.
7 Prior Period items of Rs 220.33 Lacs includes amount paid towards
amount of Govt. dues of previous years.
8. RECLASSIFICATION
Previous year's figures have been regrouped or rearranged wherever
considered necessary so at to make them comparable with those of the
current year.
Jun 30, 2010
1. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES
Provision is made for all known liabilities except contingent
liabilities that are disclosed at their estimated value as detail
below:-
(a) Bank guarantees outstanding (30 June, 2010 - X 695 Lac).
(b) Capital commitments net of Advances (30 June, 2010 - Rs. Nil).
2. DEFERRED TAX
The management has not provided / accounted for deferred tax liability
/ assets in terms of accounting standard (A.S. - 22) on Accounting for
Taxes on Income issued by the Institute of Chartered Accountants of
India as the same is not expected to be realized in the foreseeable
future.
3. SUPPLEMENTARY PROFIT AND LOSS STATEMENT DATA
(a) Capacity and production - Not applicable June30,2010 June 30, 2009
(b) Earnings in foreign exchange- Nil Nil
(c) Expenditure in foreign currency Nil Nil
(d) Payments to auditors -Auditors Fees 16,545 16,545
4. SEGMENT REPORTING
As per the management all fees are received from financial services and
capital market. Therefore in accordance with accounting standard 17 on
segment reporting, financial services is the only reportable business
segment and cannot be segregated. In the circumstances segment
information required by AS 17 of the Institute of Chartered Accountants
of India, cannot be furnished.
5. RELATED PARTY DISCLOSURES
List of Related Parties (as identified and certified by the Management)
Parties where control exists Relationship
RR Investors Capital Services (P) Ltd Subsidiary
RR Insurance Brokers (P) Ltd Subsidiary
Arix Consultants (P) Ltd Subsidiary
RR Equity Brokers (P) Ltd. Subsidiary
RR Fincap (P) Ltd. Subsidiary
RR Infra Estates (P) Ltd. Subsidiary
Associates Companies
RR Investors Securities Trading (P) Ltd. (Formally Known as RR Share
Trading (P) Ltd.)
RR Commodity Brokers (P) Ltd.
RR IT Solutions (P) Ltd.
RR Information & Investment Research (P) Ltd.
Key Management Personnel
Rajat Prasad Managing Director
Raghunandan Prasad Director
6. RECLASSIFICATION
Previous years figures have been regrouped or rearranged wherever
considered necessary so at to make them comparable with those of the
current year.
Jun 30, 2009
1. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES
Provision is made for all known liabilities except contingent
liabilities that are disclosed at their estimated value as detail
below:-
(a) Bank guarantees outstanding Rs 195 Lac (30 June, 2009 - Rs. 195
Lac).
(b) Capital commitments net of Advances
Rs. Nil (30 June, 2009 - Rs.Nil).
2. DEFERRED TAX
The management has not provided / accounted for deferred tax liability
/ assets in terms of accounting standard (AS. - 22) on Accounting for
Taxes on Incomeà issued by the Institute of Chartered Accountants of
India as the same is not expected to be realized in the foreseeable
future.
3. SEGMENT REPORTING
As per the management all fees are received from financial services and
capital market. Therefore in accordance with accounting standard 17 on
segment reporting, financial services is the only reportable business
segment and cannot be segregated. In the circumstances segment
information required by AS 17 of the Institute of Chartered Accountants
of India, cannot be furnished.
4. RECLASSIFICATION
Previous yearÃs figures have been regrouped or rearranged wherever
considered necessary so at to make them comparable with those of the
current year.
Disclaimer: This is 3rd Party content/feed, viewers are requested to use their discretion and conduct proper diligence before investing, GoodReturns does not take any liability on the genuineness and correctness of the information in this article