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
accounting standards under the Companies (Accounts) Rules, 2014 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. 2013.
1.2 Revenue Recognition
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 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
1.5 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,
1.8 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
1.9 Depreciation
Depreciation on Fixed Assets is provided Cased on useful life assigned
to each asset prescribed in accordance with Part - "C" of 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 m use, are discounted to their present value at the weighted
average cost of capital.
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
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 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.
1.5 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 nordisclosed 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 pershare
(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 forthe effects of all dilutive potential equity shares.
1.8 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
1.9 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.
1.10 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/extemal 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, 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
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.
1.4 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.
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.
c) Terms/rights attached to equity shares
The Company has only one class of equity shares having a par value of
Rs. 10/- each. Each holder of equity shares is entitled to one vote per
share. The dividend proposed by the Board of Directors, if any, is
subject to the approval of the shareholders in the subsequent Annual
General Meeting. In the event of liquidation of the Company, the holder
of equity shares will be entitled to receive remaining assets of the
Company after distributions of all preferential amount. The
distributions will be in proportion to the number of equity shares held
by the shareholders; and any other right as the Memorandum and Articles
of Association of the Company may prescribe in relation to the
aforesaid equity shares of the Company.
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
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 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.
1.5 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.