Mar 31, 2015
1.1 Basis of Preparation of Financial Statements
The Financial Statements have been prepared in conformity with
generally accepted accounting principles to comply with the notified
1.2 Revenue Recognistion
Income and expenditure are accounted for on accrual basis . Interest
income is recognized on a time proportion basis taking into account the
amount outstanding and the rate applicable. Dividend income is
recognized when the shareholder's right to receive payment is
established by the balance sheet date.
1.3 Investments
Long-term Investments are carried at acquisition cost. Investments
intended to be held for less than one year are classified as 'Current
Investments' and carried at lower of cost and net realizable value.
Provision for diminution in value is made if the decline in value is
other than temporary in nature in the opinion of the management.
1.4 Taxes on Income
Provision for Income Tax is made on the basis of estimated taxable
income for the period at current rates. Tax expense comprises both
Current Tax and Deferred Tax at the applicable enacted or substantively
enacted rates. Current Tax represents the amount of Income Tax payable/
recoverable in respect of taxable income/ loss for the reporting
period. Deferred Tax represents the effect of timing
1.5 Provisions, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement
are recognised when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognised but are disclosed in the
Notes. Contingent Assets are neither recognised nor disclosed in the
financial statements.
1.6 Inventories
Inventories of shares are valued at cost computed on FIFO Basis or fair
value, which ever is lower.
1.7 Earnings per share
(A) Earnings per share is calculated by dividing the net profit or loss
for the year attributable to equity shareholders, by the weighted
average number of equity shares outstanding during the year.
(B) For the purpose of calculating diluted earnings per share, the net
profit or loss for the year attributable to equity shareholders and
weighted average number of shares outstanding during the year is
adjusted for the effects of all dilutive potential equity shares.
Fixed assets are stated at cost less accumulated depreciation and
impairment, if any. Cost comprises the purchase price inclusive of
duties, taxes, and incidental expenses upto the date, the asset is
ready for its intended use
1.9 Depreciation
- Depreciation on Fixed Assets is provided on Written down value Method
at the rates specified in Schedule II of the Companies Act, 2013.
- Depreciation on fixed assets added/disposed off during the year, is
provided on pro-rata basis with reference to the date of
addition/disposal.
- In a case of impairment, if any, depreciation is provided on the
revised carrying amount of the assets over their remaining useful life.
1.10 Impairment of Assets
The carrying amounts of assets are reviewed at each balance sheet date
to determine whether there is any indication of impairment based on
internal/external factors. An impairment loss is recognized wherever
the carrying amount of an asset exceeds its recoverable amount which
represents the greater of the net selling price and 'value in use' of
the assets. The estimated future cash flows considered for determining
the value in use, are discounted to their present value at the weighted
average cost of capital.
After impairment, depreciation is provided on the revised carrying
amount of the assets over its remaining useful life.
1.11 Deferred Tax
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 substantially enacted as on the Balance Sheet date. The
Deferred Tax Asset is recognized and carried forward only to the extent
that there is a reasonable certainty that the assets will be realized
in future.
Mar 31, 2014
1.1 Basis of Preparation of Financial Statements
The Financial Statements have been prepared in confirmity with
generally accepted accounting principles to comply with the notified
accounting standards under the Companies (Accounting Standard) Rules,
2006 and the guidelines issued by the Reserve Bank of India as
applicable to a Non-banking Finance Company. The financial statements
have been prepared under the historical cost convention and in
accordance with the provisions of the Companies Act, 1956.
1.2 Revenue Recognistion
Revenue is recognised only when it can be reliably measured and it is
reasonable to expect ultimate collection.
1.3 Fixed Assets
Fixed assets are stated at cost less accumulated depreciation and
impairment, if any. Cost comprises the purchase price inclusive of
duties, taxes, and incidental expenses upto the date, the asset is
ready for its intended use
1.4 Depreciation
* Depreciation on Fixed Assets is provided on Written down value Method
at the rates specified in Schedule XIV of the Companies Act, 1956.
* Depreciation on fixed assets added/disposed off during the year, is
provided on pro-rata basis with reference to the date of
addition/disposal.
* In a case of impairment, if any, depreciation is provided on the
revised carrying amount of the assets over their remaining useful life.
1.5 Impairment of Assets
The carrying amounts of assets are reviewed at each balance sheet date
to determine whether there is any indication of impairment based on
internal/external factors. An impairment loss is recognized wherever
the carrying amount of an asset exceeds its recoverable amount which
represents the greater of the net selling price and ''value in use'' of
the assets. The estimated future cash flows considered for determining
the value in use, are discounted to their present value at the weighted
average cost of capital.
After impairment, depreciation is provided on the revised carrying
amount of the assets over its remaining useful life.
1.6 Preliminary Expenses
Preliminary Expense is amortised over a period of Five years.
1.7 Investments
Long-term Investments are carried at acquisition cost. Investments
intended to be held for less than one year are classified as ''Current
Investments'' and carried at lower of cost and net realizable value.
Provision for diminution in value is made if the decline in value is
other than temporary in nature in the opinion of the management.
1.8 Taxes on Income
Provision for Income Tax is made on the basis of estimated taxable
income for the period at current rates. Tax expense comprises both
Current Tax and Deferred Tax at the applicable enacted or substantively
enacted rates. Current Tax represents the amount of Income Tax payable/
recoverable in respect of taxable income/ loss for the reporting
period. Deferred Tax represents the effect of timing difference between
taxable income and accounting income for the reporting period that
originates in one year and are capable of reversal in one or more
subsequent years.
1.9 Provisions, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement
are recognised when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognised but are disclosed in the
Notes. Contingent Assets are neither recognised nor disclosed in the
financial statements.
1.10 Deferred Tax
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 substantially enacted as on the Balance Sheet date. The
Deferred Tax Asset is recognized and carried forward only to the extent
that there is a reasonable certainty that the assets will be realized
in future.
Mar 31, 2013
1.1 Basis of Preparation of Financial Statements
The Financial Statements have been prepared in confirmity with
generally accepted accounting principles to comply with the notified
accounting standards under the Companies (Accounting Standard) Rules,
2006 and the guidelines issued by the Reserve Bank of India as
applicable to a Non-banking Finance Company. The financial statements
have been prepared under the historical cost convention and in
accordance with the provisions of the Companies Act, 1956.
1.2 Revenue Recognistion
Revenue is recognised only when it can be reliably measured and it is
reasonable to expect ultimate collection.
1.3 Fixed Assets & Depreciation
Fixed Assets are stated at cost less accumulated depreciation and
impairment loss, if any. Depreciation on fixed assets is provided on
written down value method at the rates and in the manner prescribed in
the Schedule XIV of the Companies Act, 1956.
1.4 Investments
Long-term Investments are carried at acquisition cost. Investments
intended to be held for less than one year are classified as ''Current
Investments'' and carried at lower of cost and net realizable value.
Provision for diminution in value is made if the decline in value is
other than temporary in nature in the opinion of the management.
1.5 Taxes on Income
Provision for Income Tax is made on the basis of estimated taxable
income for the period at current rates. Tax expense comprises both
Current Tax and Deferred Tax at the applicable enacted or substantively
enacted rates. Current Tax represents the amount of Income Tax payable/
recoverable in respect of taxable income/ loss for the reporting
period. Deferred Tax represents the effect of timing difference between
taxable income and accounting income for the reporting period that
originates in one year and are capable of reversal in one or more
subsequent years.
1.6 Provisions, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement
are recognised when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognised but are disclosed in the
Notes. Contingent Assets are neither recognised nor disclosed in the
financial statements.
Mar 31, 2012
1.1 Basis of Preparation of Financial Statements
The Financial Statements have been prepared in confirmity with
generally accepted accounting principles to comply with the notified
accounting standards under the Companies (Accounting Standard) Rules,
2006 and the guidelines issued by the Reserve Bank of India as
applicable to a Non-banking Finance Company. The financial statements
have been prepared under the historical cost convention and in
accordance with the provisions of the Companies Act, 1956.
1.2 Revenue Recognistion
Revenue is recognised only when it can be reliably measured and it is
reasonable to expect ultimate collection.
1.3 Fixed Assets & Depreciation
Fixed Assets are stated at cost less accumulated depreciation and
impairment loss, if any. Depreciation on fixed assets is provided on
written down value method at the rates and in the manner prescribed in
the Schedule XIV of the Companies Act, 1956.
1.4 Investments
Long-term Investments are carried at acquisition cost. Investments
intended to be held for less than one year are classified as ''Current
Investments'' and carried at lower of cost and net realizable value.
Provision for diminution in value is made if the decline in value is
other than temporary in nature in the opinion of the management.
1.5 Taxes on Income
Provision for Income Tax is made on the basis of estimated taxable
income for the period at current rates. Tax expense comprises both
Current Tax and Deferred Tax at the applicable enacted or substantively
enacted rates. Current Tax represents the amount of Income Tax payable/
recoverable in respect of taxable income/ loss for the reporting
period. Deferred Tax represents the effect of timing difference between
taxable income and accounting income for the reporting period that
originates in one year and are capable of reversal in one or more
subsequent years.
1.6 Provisions, Contingent Liabilities and Contingent Assets
Provisions involving substantial degree of estimation in measurement
are recognised when there is a present obligation as a result of past
events and it is probable that there will be an outflow of resources.
Contingent Liabilities are not recognised but are disclosed in the
Notes. Contingent Assets are neither recognised nor disclosed in the
financial statements.
Mar 31, 2011
1. General
The accounts have been prepared on the Accounting Principles of going
concern and are in consistent with the general accounting policies.
Accounts are prepared on the basis of historical cost convention.
2. Revenue Recognition
All Incomes and Expenditures unless specifically stated otherwise are
accounted for on mercantile basis. Dividend received and Tax audit fees
are accounted for on cash basis.
3. Interest and Dividend Income
a) Interest Income is accounted for on accrual basis
b) Dividend Income on Shares is taken into account on Cash Basis.
4. Fixed Assets
All fixed assets are stated at acquisition cost less depreciation.
5. Depreciation
Depreciation on Fixed Assets has been provided on written down value
method at the rate prescribed under the Schedule-XIV of the Companies
Act,1956.
6. Investments
a) Long Term investments are shown at cost and in case there is a
permanent diminution in the value of only investments, a provision for
same is made in the accounts.
b) ( i) Quoted current investments are stated at the lower of cost and
market value.
( ii) Unquoted current investments are stated at the lower of cost and
fair value, when available.
7. Contingent Liabilities
Liabilities which are material and whose future outcome cannot be
ascertained with reasonable certainty are treated as contingent and
disclosed in the notes on accounts.
8. Taxation
Current tax is determined on tax payable in respect of taxable income
for the period. Deferred tax liability is recognized subject to the
consideration of prudence, on timing differences between taxable income
and accounting income that originate in one period and are capable to
reversal in one or more subsequent period. Deferred tax assets is
recognized on unabsorbed depreciation and carry forward losses only if
there is virtual certainty of realization in future. Deferred tax
assets / liabilities are reviewed at each balance sheet date based on
development during the year and available judicial pronouncement, to
reassess realization liabilities.
Mar 31, 2010
1. General
The accounts have been prepared on the Accounting Principles of going
concern and are in consistent with the general accounting policies.
Accounts are prepared on the basis of historical cost convention.
2. Revenue Recognition
All Incomes and Expenditures unless specifically stated otherwise are
accounted for on mercantile basis.Dividend received and Tax audit fees
are accounted for on cash basis.
3. Interest and Dividend Income
a) Interest Income is accounted for on accrual basis
b) Dividend Income on Shares is taken into account on Cash Basis.
4. Fixed Assets :
All fixed assets are stated at acquisition cost less depreciation.
5. Depreciation
Depreciation on Fixed Assets has been provided on written down value
method at the rate prescribed under the Schedule-XIV of the Companies
Act,1956.
6. Investments :
a) Long Term investments are shown at cost and in case there is a
permanent diminution in the value of only investments, a provision for
same is made in the accounts.
b) ( i) Quoted current investments are stated at the lower of cost and
market value.
( ii) Unquoted current investments are stated at the lower of cost and
fair value, when available.
7. Contingent Liabilities :
Liabilities which are material and whose future outcome cannot be
ascertained with reasonable certainty are treated as contingent and
disclosed in the notes on accounts.
8. Taxation
Current tax is determined on tax payable in respect of taxable income
for the period. Deferred tax liability is recognized subject to the
consideration of prudence, on timing differences between taxableincome
and accounting income that originate in one period and are capable to
reversal in one or more subsequent period. Deferred tax assets is
recognized on unabsorbed depreciation and carry forward losses only if
there is virtual certainty of realization in future. Deferred tax
assets / liabilities are reviewed at each balance sheet date based on
development during the year and available judicial pronouncement, to
reassess realization liabilities.
Mar 31, 2009
1. General
The accounts have been prepared on the Accounting Principles of going
concern and are in consistent with the general accounting policies.
Accounts are prepared on the basis of historical cost convention.
2. Revenue Recognition
All Incomes arid Expenditures unless specifically stated otherwise are
accounted for on mercantile basis. Dividend received and Tax audit fees
are accounted for on cash basis.
3. Interest and Dividend income
a) Interest Income is accounted for on accrual basis
b) Dividend Income on Shares is taken into account on Cash Basis.
4. Fixed Assets
All fixed assets are stated at acquisition cost less depredation.
5. Depreciation
Depreciation on Fixed Assets has been provided on written down value
method at the rate prescribed under the Schedule-XIV of the Companies
Act,1956.
6. Investments
a) Long Term investments are shown at cost and in case there is a
permanent diminution in the value of only investments, a provision for
same is made in the accounts.
b) (i) Quoted current investments are stated at the lower of cost and
market value.
(ii) Unquoted current investments are stated at the lower of cost and
fair value, when available.
7. Contingent Liabilities
Liabilities which are material and whose future outcome cannot be
ascertained with reasonable certainty are treated as contingent and
disclosed in the notes on accounts.
8. Taxation
Current tax is determined on tax payable in respect of taxable income
for the period. Deferred tax liability is recognized, subject to the
consideration of prudence. on timing differences between taxable income
and accounting income that originate in one period and are capable to
reversal in one or more subsequent period. Deferred tax assets is
recognized on unabsorbed depreciation and carry forward losses only if
there is virtual certainty of realization in future. Deferred tax
assets I liabilities are reviewed at each balance sheet date based on
development during the year and available judicial pronouncement, to
reassess realization liabilities.