Mar 31, 2014
TERMS/ RIGHTS ATTACHED TO EQUITY SHARES
The Company has only one class of equity share having par value of Rs.
10 / per share. Each holder of Equity share is entitled to one vote per
share
In the event of liquidation of the company, the holder of equity shares
will be entitled to receive remaining assets of the Company after
distribution of all preferential amounts. The Distribution will be in
proportion to the number of equity share held by the shareholders''
As per the records of the Company , including its Register of Members
and other declarations received from the shareholders regarding
beneficial interest , the above shareholders represents legal ownership
of shares.
D. SHARES ISSUED FOR CONSIDERATION OTHER THAN CASH
Out of the above 18987875 equity shares have been issued for
consideration other than cash.
Mar 31, 2013
01. ACCOUNTING CONVENTIONS
The Financial Statements are prepared on Historical Cost Convention.
Financial Statements are prepared in accordance with relevant
presentational requirements of the Companies Act, 1956 and applicable
mandatory Accounting Standards.
02 INVESTMENTS
Investments are long-term investments, hence valued at cost.
03 RECOGNITION OF INCOME & EXPENDITURE
Income & Expenditures are accounted for on accrual basis, except
interest on Dividend which is accounted for on Receipt Basis.
04 TAXES ON INCOME
Current Tax is determined as the amount of tax payable in respect of
taxable income for the year. Deferred Tax is recognised, subject to
consideration of prudence, in respect of deferred tax assets /
liabilities on timing difference, being the difference between taxable
income and accounting income that originated in one period and are
capable of reve
05 PRELIMINARY EXPENSES.
Preliminary Expenses is amortised over a period of five years.
06 EARNING PER SHARE
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 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 are adjusted for the effects of all
dilutive potential equity shares.
07 CONTINGENCIES :
These are disclosed by way of notes on the Balance sheet. Provisions is
made in the accounts in respect of those contingencies which are likely
to materialize into liabilities after the year end, till the
finalization of accounts and material effect on the position stated in
the Balance Sheet
08 PROVISIONING FOR STANDARD ASSETS :
The Reserve Bank of India vide Notification No DNBS 223/CGM (US) 2011
DATED 17 JANUARY,2011 has issued direction to all NBFCs to make
provision of 0.25% on STANDARD ASSETS with immediate effect.
Accordingly the Company has made provision @ 0.25% on Standard Assets
in accordance therewith.
09 PROVISIONING FOR DEFERRED TAXES :
The Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act , 1961 .
Deferred Tax resulting from " timings 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, 2012
01. ACCOUNTING CONVENTIONS
The Financial Statements are prepared on Historical Cost Convention.
Financial Statements are prepared in accordance with relevant
presentational requirements of the Companies Act, 1956 and applicable
mandatory Accounting Standards.
02 INVESTMENTS
Investments are long-term investments, hence valued at cost.
03 RECOGNITION OF INCOME & EXPENDITURE
Income & Expenditures are accounted for on accrual basis, except
interest on Dividend which is accounted for on Receipt Basis.
04 PRELIMINARY EXPENSES
Preliminary Expense is amortised over a period of Five years.
05 TAXES ON INCOME
Current Tax is determined as the amount of tax payable in respect of
taxable income for the year. Deferred Tax is recognised, subject to
consideration of prudence, in respect of deferred tax assets /
liabilities on timing difference, being the difference between taxable
income and accounting income that originated in one period and are
capable of reve
06 EARNING PER SHARE
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 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 are adjusted for the effects of all
dilutive potential equibment.
07 CONTINGENCIES :
These are disclosed by way of notes on the Balance sheet . Provisions
is made in the accounts in respect of those contingencies which are
likely to materialize into liabilities after the year end , till the
finalization of accounts and material effect on
08 PROVISIONING FOR STANDARD ASSETS :
The Reserve Bank Of India vide Notification No DNBS 223/CGM (US) 2011
DATED 17 JANUARY, 2011 has issued direction to all NBFCs to make
provision of 0.25% on STANDARD ASSETS with immediate effect.
Accordingly the Company has made provision @ 0.25% o
09 PROVISIONING FOR DEFERRED TAXES :
The Provision for current tax is made after taking into consideration
benefits admissible under the provisions of the Income Tax Act, 1961 .
Deferred Ta x resulting from " timings 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.
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