Notes to Accounts of SPS Finquest Ltd.

Mar 31, 2018

1) NATURE OF BUSINESS

The company is a Non Banking Financial Company registered with the Reserve Bank of India under Section 45 1A of the Reserve Bank of India Act, 1934 and primarily engaged in lending and related activities. The company received the certificate of Registration from the RBI, enabling the company to carry on business as a Non -banking finance company. In accordance with the provisions of section 45 IC of the RBI Act, 1934, the company has transferred a sum of Rs 95.30 lakhs to the Reserve Fund.

2) NOTES TO ACCOUNTS

a) The company does not have any contingent liability as on the Balance Sheet date.

b) As of March 31, 2018 the Company had no outstanding dues to small-scale industrial undertakings (Previous Year Rs. Nil).

c) The company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to amounts unpaid as at the period end together with interest paid/payable under this Act have not been given.

d) In the opinion of the Board, Current Assets, Loans & advances have the value on realization in the ordinary course of business at least equal to the amount at which they are stated.

e) Related party disclosure has been made as per Accounting Standard 18 issued by the Institute of Chartered Accountants of India, as under:

Note

- Related Party relationships are as identified by the company and relied upon by the Auditors

- Transactions carried out with related parties referred to above are in the ordinary course of business

f) Segment Reporting

The company is engaged in single segment and there are no separate reportable segments as defined in AS - 17. All the revenue shown as part of revenue from operations comes from NBFC Activities of the company. All other revenues / income are shown as Other Income.

i. The figures have been rounded off to the nearest rupee.

j. The previous year’s figures have been recast / restated, wherever necessary, to conform to the current year’s classification. k. Disclosure as required by Para 13 of Non Banking Financial (Non Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007.

Notes:

1. As defined in paragraph 2(1)(Xii) of the Non Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Direction, 1998

2. Provisioning norms shall be applicable as prescribed in Non Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions 2007

3. 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/NAV in respect of unquoted investments should be disclosed irrespective of whether they are classified as long term or current in (4) above.

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Mar 31, 2016

1) NOTES TO ACCOUNTS

a) The company does not have any contingent liability as on the Balance Sheet date.

b) As of March 31, 2016 the Company had no outstanding dues to small-scale industrial undertakings (Previous Year Rs. Nil).

c) The company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to amounts unpaid as at the period end together with interest paid/payable under this Act have not been given.

d) In the opinion of the Board, Current Assets, Loans & advances have the value on realization in the ordinary course of business at least equal to the amount at which they are stated.

e) Related party disclosure has been made as per Accounting Standard 18 issued by the Institute of Chartered Accountants of India, as under:

Associate Enterprises	Revelation Portfolio Management Pvt. Ltd SPS Share Brokers P. Ltd.
Related Party Relations
Key Management Personnel	Mr. Pramod Shah Mr. Sandeep Shah Mr. Girish Jajoo
Relatives	Mr. Vinesh Shah

- Related Party relationships are as identified by the company and relied upon by the Auditors

- Transactions carried out with related parties referred to above are in the ordinary course of business

f) Segment Reporting

The company is engaged in single segment and there are no separate reportable segments as defined in AS - 17. All the revenue shown as part of revenue from operations comes from NBFC Activities of the company. All other revenues / income are shown as Other Income.

i) The figures have been rounded off to the nearest rupee.

j) The previous year''s figures have been recast / restated, wherever necessary, to conform to the current year''s classification.

k) Disclosure as required by Para 13 of Non Banking Financial (Non Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007.

1. As defined in paragraph 2(1)(Xii) of the Non Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Direction, 1998

2. Provisioning norms shall be applicable as prescribed in Non Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions 2007

3. 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/NAV in respect of unquoted investments should be disclosed irrespective of whether they are classified as long term or current in (4) above.

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Mar 31, 2015

A) The company does not have any contingent liability as on the Balance Sheet date.

b) As of March 31, 2015 the Company had no outstanding dues to small-scale industrial undertakings (Previous Year Rs. Nil).

c) The company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to amounts unpaid as at the period end together with interest paid/payable under this Act have not been given.

d) In the opinion of the Board, Current Assets, Loans & advances have the value on realization in the ordinary course of business at least equal to the amount at which they are stated.

e) Related party disclosure has been made as per Accounting Standard 18 issued by the Institute of Chartered Accountants of India, as under:

Associate Enterprises

Revelation Portfolio Management Pvt. Ltd SPS Share Brokers P. Ltd.

Note

- Related Party relationships are as identified by the company and relied upon by the Auditors

- Transactions carried out with related parties referred to above are in the ordinary course of business

f) Segment Reporting

The company is engaged in single segment and there are no separate reportable segments as defined in AS - 17. All the revenue shown as part of revenue from operations comes from NBFC Activities of the company. All other revenues / income are shown as Other Income.

g) The figures have been rounded off to the nearest rupee.

h) The previous year's figures have been recast / restated, wherever necessary, to conform to the current year's classification.

i) Disclosure as required by Para 13 of Non Banking Financial (Non Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007.

Notes:

1. As defined in paragraph 2(1)(Xii) of the Non Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Direction, 1998

2. Provisioning norms shall be applicable as prescribed in Non Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions 2007

3. 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/NAV in respect of unquoted investments should be disclosed irrespective of whether they are classified as long term or current in (4) above.

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Mar 31, 2014

1) NATURE OF BUSINESS

The company is a Non Banking Financial Company registered with the Reserve Bank of India under Section 45 1 A of the Reserve Bank of India Act, 1934 and primarily engaged in lending and related activities, The company received the certificate of Registration from the RBI, enabling the company to carry on business as a Non -banking finance company. In accordance with the provisions of section 45 1C of the RBI Act, 1934, the company has created a Reserve Fund and during the period, the company has transferred as amount of Rs. 13, 87, 368/- to Reserve Fund being 20% of the Profit after Tax.

a) The company does not have any contingent liability as on the Balance Sheet date.

b) As of March 31, 2014 the Company had no outstanding dues to small-scale industrial undertakings (Previous Year Rs. Nil).

c) The company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to amounts unpaid as at the period end together with interest paid/payable under this Act have not been given.

d) In the opinion of the Board, Current Assets, Loans & advances have the value on realization in the ordinary course of business at least equal to the amount at which they are stated.

e) Related party disclosure has been made as per Accounting Standard 18 issued by the Institute of Chartered Accountants of India, as under:

2. Associate Enterprises

SPS Capital & Money Management Services Pvt. Ltd

Revelation Portfolio Management Pvt. Ltd

SPS Share Brokers P. Ltd.

Related Party Relations

Key Management Personnel

Mr, Pramod Shah

Mr. Sandeep Shah

Relatives

Mrs. Kalpana Shah

Mrs. Jesal Shah

Mrs. Alpa Shah

3. Segment Reporting

The company is engaged in single segment and there are no separate reportable segments as defined in AS - I 7. All the revenue shown as part of revenue from operations comes from NBFC Activities of the company. All other revenues / income are shown as Other Income.

4. Provisioning norms shall be applicable as prescribed in Non Banking Financial (Non- Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions 2007

5. 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/NAV in respect of unquoted investments should be disclosed irrespective of whether they are classified as long term or current in (4) above.

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Mar 31, 2013

1) NATURE OF BUSINESS

The company is a Non Banking Financial Company registered with the Reserve Bank of India under Section 45 1A of the Reserve Bank of India Act, 1934 and primarily engaged in lending and related activities. The company received the certificate of Registration from the RBI, enabling the company to carry on business as a Non - banking finance company. In accordance with the provisions of section 45 IC of the RBI Act, 1934, the company has created a Reserve Fund and during the year, the company has transferred as amount of Rs. 7,22,124/- to Reserve Fund being 20% of the Profit after Tax.

a) The company does not have any contingent liability as on the Balance Sheet date.

b) As of March 31, 2013, the Company had no outstanding dues to small-scale industrial undertakings (Previous Year Rs. Nil).

c) The company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to amounts unpaid as at the year end together with interest paid/payable under this Act have not been given.

d) In the opinion of the Board, Current Assets, Loans & advances have the value on realization in the ordinary course of business at least equal to the amount at which they are stated.

e) Related party disclosure has been made as per Accounting Standard 18 issued by the Institute of Chartered Accountants of India, as under:

Related Party Relations

Key Management Personnel Mr. Pramod Shah

Note

* Related Party relationships are as identified by the company and relied upon by the Auditors

* Transactions carried out with related parties referred to above are in the ordinary course of business

f) Segment Reporting

The company is engaged in single segment and there are no separate reportable segments as defined in AS - 17.

h) The figures have been rounded off to the nearest rupee.

i) The previous year's figures have been recast / restated, wherever necessary, to conform to the current year's classification.

j) Disclosure as required by Para 13 of Non Banking Financial (Non Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007.

Notes:

2. As defined in paragraph 2(1)(Xii) of the Non Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Direction, 1998

3. Provisioning norms shall be applicable as prescribed in Non Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions 2007

4. 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/NAV in respect of unquoted investments should be disclosed irrespective of whether they are classified as long term or current in (4) above.

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Mar 31, 2012

A) The company does not have any contingent liability as on the Balance Sheet date.

b) As of March 31, 2012, the Company had no outstanding dues to small-scale industrial undertakings (Previous Year Rs. Nil).

c) The company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to amounts unpaid as at the yearend together with interest paid/payable under this Act have not been given.

d) In the opinion of the Board, Current Assets, Loans & advances have the value on realization in the ordinary course of business at least equal to the amount at which they are stated.

e) Related party disclosure has been made as per Accounting Standard 18 issued by the Institute of Chartered Accountants of India, as under:

Note

- Related Party relationships are as identified by the company and relied upon by the Auditors

- Transactions carried out with related parties referred to above are in the ordinary course of business

f) Segment Reporting

The company is engaged in single segment and there are no separate reportable segments as defined in AS – 17.

g) The figures have been rounded off to the nearest rupee.

h) The previous year's figures have been recast / restated, wherever necessary, to conform to the current year's classification.

Notes:

1. As defined in paragraph 2(1)(Xii) of the Non Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Direction, 1998

2. Provisioning norms shall be applicable as prescribed in Non Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions 2007

3. 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/NAV in respect of unquoted investments should be disclosed irrespective of whether they are classified as long term or current in (4) above.

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Mar 31, 2011

1. NATURE OF BUSINESS

The company is a Non Banking Financial Company registered with the Reserve Bank of India under Section 45 1A of the Reserve Bank of India Act, 1934 and primarily engaged in lending and related activities. The company has received the certificate of Registration from RBI enabling the company to cany on business as a Non -banking finance company. In accordance with the provisions'of section 45 IC of the RBI Act, 1934, the company has created a Reserve Fund and during the year, the company has transferred as amount of Rs.4,45,764/- to Reserve Fund being 20% of the Profit after Tax.

2. Additional information as required by paragraph 3 of Part II of Schedule VI to the Companies Act, 1956 is not applicable.

3. The company does not have any contingent liability as on the Balance Sheet date.

4. During the year the company has fully depreciated it Fixed Assets.

5. As of March 31, 2011, the Company had no outstanding dues to small-scale industrial undertakings (Previous Year Rs. Nil).

6. The company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures relating to amounts unpaid as at the year end together with interest paid/payable under this Act have not been given.

7. In die opinion of the Board, Current Assets, Loans & advances have the value on realization in the ordinary course of business at least equal to the amount at which they are stated.

8. Related party disclosure has been made as per Accounting Standard 18 issued by the Institute of Chartered Accountants of India, as under:

Related Party Relations

Associate Enterprises M/s Ceenik Exports (India) Ltd.

Key Management Personnel Mrs. Chandra Hingorani

Mr. Pramod Shah

9. Segment Reporting

The company is engaged in single segment and there are no separate reportable segments as defined in AS - 17.

10. The figures have been rounded off to the nearest rupee.

11. The previous year's figures have been recast / restated, wherever necessary, to conform to the current year's classification.

12. As defined in paragraph 2(lXXii) of the Non Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Direction, 1998

13. Provisioning norms shall be applicable as prescribed in Non Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions 2007

14. 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 yalue/NAV in respect of unquoted investments should be disclosed irrespective of whether they are classified as Ipng term or current in (4) above.