Mar 31, 2014
Note:1 CONTINGENT LIABILITIES :-
As per the management estimate and belief there is no contingent
liability as at 31.03.2014 (Previus Year Nil)..
Note: 2 PROFIT ON SALE OF SHARES
In the previous year the company has sold 70010 shares of M/s PSS Agro
& Investments Pvt. Ltd., which were held as non-current investment. The
shares have been sold for a total sale consideration of Rs. 3.50 Crores
and the resulting profit thereon amounting to Rs. 3,14,99,500/- has
been transferred to Profit & Loss A/c. Though the transaction forms
part of ordinary activities of the company, being NBFC, but the sale
consideration as well as profit derived from the sale is an exceptional
item for the company.
Note:3 The company is predominantly engaged in NBFC business. There is
no other business or geographical segments with in the meaning of
Accounting Standard - 17 issued by the institute of Chartered
Accountants of India.
Note:4 The company has accounted for the MAT credit entitlement for
the F.Y. 2007-08 and 2012-13 amounting to Rs. 12,31,760/- and Rs.
10,97,388/- respectively which were erroneously not taken into account
in those years. Mat credit entitlement has also been accounted for the
F.Y.2013-14 amounting to Rs.6,550/-.
Note:5 Expenditure in foreign currency: Nil
Note:6 Earning in foreign currency: Nil
Note:7 Balances of the parties are subject to confirmation and
reconciliation , if any.
Note:8 In the opinion of the Board, the Current assets, loans and
advances are approximately of the value stated, if realized in the
ordinary course of business and provision for all knows liabilities are
made.
Note 9 The Company has been transferred an amount of Rs.4,74,700/- to
Special Reserve Fund during the year, which was created in terms of
Section 45 IC of the Reserve Bank of India Act,1934.
Note:10 Loans and advances include Rs. 383.50 Lacs (P.Y Rs. 387.00
Lacs) advances to a company in which the director of the company is a
director.
Note:11 As per the information available with the company no amount is
due to Micro, Small and Medium Enterprise a defined under the Micro,
Small and Medium Enterprise Development Act, 2006.
Note:12 The figures of Previous year have been regrouped/recast
wherever consider necessary to make them comparable with those of
current year.
Mar 31, 2013
Note:1 CONVERSION OF INVESTMENT INTO STOCK IN TRADE
All the Quoted Investment standing in the books as on 31.03.2011 have
been converted into Stock in Trade at the fair market value as at
01.04.2011. Resulting in an overall loss of Rs. 3143756/- which has
been shown as extra ordinary item in the Statement of profit & loss..
Note: 2 PROMT ON SALE OF SHARES
The company has sold 7UUJU shares ot M/s res Agro &, Investments Pvt.
Ltd. Which were held as non-current investment, the shares have been
sold tor a total sale consideration of Rs. 3.50 Crores and the
resulting profit thereon amounting to Rs. 3,14,99,500/- has been
transferred to Profit & Loss A/c. Though the transaction forms part of
ordinary activities of the company, being NBFC, but the sale
consideration as well as profit derived from the sale is an exceptional
item
Note:3 The company is predominantly engaged in NBFC business. There is
no other business or geographical segments with in the meaning of
Accounting Standard - 17 issued by the institute of Chartered
Accountants of India.
Note:4 Expenditure in foreign currency: Nil Notc:32 Earning in foreign
currency: Nil
Ncli:5 Balances of the parlies are subject Id confirmation unci
reconciliation , if any
NHic6 In ilic opinion ul Ik ll.i.ml. Hie ( niiciii assets. loans and
advances arc approximately of the value sluled, il''realized in the
ordinary course of business and provision lor all knows liabilities arc
nuule.
Noic:7 Loans and advances include Ks 1X7.00 I,acs (I''.Y Ks. 116.67
Lacs) advances to a company in whieh the director of the company is a
director. information available wiih the company no amount is due to
Micro, Small and Medium Knterprise a defined under the Micro, Small and
Medium inlerprise Development Acl, 2006.
Notr:8 figures of Previous year have been regrouped/recast wherever
consider necessary to make them comparable with those of current year,
Mar 31, 2011
1. Contingent Liabilities : Nil (Prev Year : Nil)
2. In the opinion of the Board, the current assets, loans and advances
are approximately of the value stated, if realized in the ordinary
course of business and provision for all known liabilities are made.
3. Loans and advances include Rs. 105.00 Lacs (P.Y Rs. 20.00 Lacs)
advances to a company in which the director of the Company is a
director.
4. As per the information available with the Company, no amount is due
to Small Scale Ancillary Industrial Undertakings as at 31st March,
2011.
5. Gratuity liability is not provided, as none of the employees have
completed the qualifying period of service.
6. The Company is predominantly engaged in the business of NBFC, and
there is no business or geographical segment with in the meaning of
accounting standard 17 "Segment Reporting".
7. Deferred Tax Assets/Liability
Consequent to the Accounting Standard-22 on " Accounting for Taxes on
Income", the deferred tax credit/(debit) of Rs. 1,333/- cr (P.Y Rs.
74,164 (dr)) is recognized in the Profit & Loss Account. Deferred Tax
Asset (As shown in the braket below) and deferred tax liability has
been worked out as under:
8. Additional information pursuant to Part II of Schedule VI to the
Companies Act, 1956, is being furnished separately at Annexure A.
9. Previous year figures have been regrouped, rearranged or recasted
wherever considered necessary.
10. Schedule A to P form integral part of the accounts and are duly
authenticated.
Mar 31, 2010
1. Contingent Liabilities : Nil (Prev Year : Nil)
2. In the opinion of the Board, the current assets, loans and advances
are approximately of the value stated, if realized in the ordinary
course of business and provision for all known liabilities are made.
3. Loans and advances include Rs. 20.00 Lacs (P.Y Rs. Nil) advances to
a company in which the director of the Company is a director.
4. As per the information available with the Company, no amount is due
to Small Scale Ancillary Industrial Undertakings as at 31st March,
2010.
5. Gratuity liability is not provided, as none of the employees have
completed the qualifying period of service.
6. The Company is predominantly engaged in the business of NBFC, and
there is no business or geogoraphical segment with in the meaning of
accounting standard 17 "Segment Reporting".
7. Related Party Disclosure:
As per Accounting Standard 18 " Related Party Disclosure", issued by
the ICIA, the disclosures of transactions with the related prices are
as follows:
Sr. Name of the party Relationship
No.
1 Praveen Kumar Arora Key Management Personnel
The company took the following transactios with the related party
during the year:
Sr. Name of the party Amount(Rs.)
No.
1 Praveen Kumar Arora 12.00 Lacs(P.Y Rs. 600 Lacs)
8. Market Value of Arrow Textile Ltd. as at 31.03.2009 is not
available due to restructuring and merger respectively.
9. Additional information pursuant to Part II of Schedule VI to the
Companies Act, 1956, is being furnished separately at Annexure A.
10. Previous year figures have been regrouped,rearranged or recasted
wherever considered necessary.
11. Schedule A to P form integral part of the accounts and are duly
authenticated.