(g) T erms and rights attached to Equity Shares:
The Company has issued only one class of Equity Shares having a Face Value of ? 1/- per share. Each holder of Equity Shares is entitled to one vote per share. In the event of liquidation of the Company, the holders 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 Shares held by the shareholders.
Nature and purpose of other Reserves General Reserve
The general reserves are the retained earnings of a Company which are kept aside out of Company's profits to meet future (known or unknown) obligations. The general reserve is a free Reserve which can be utilized for any purpose after fulfilling certain conditions.
Note 29 — Contingent Liabilities not provided for
The Company does not have any contingency Liability as on the Closing of current financial year.
Note:
(a) The Company has not provided for Gratuity Fund payable to certain employees.
(b) The Company is having investments in some of small cap illiquid stocks where either there is very thin trading or is no trading during the entire financial year. Even trading in some of these shares has been suspended by Stock Exchanges. The Company has valued these shares on last traded price on BSE/CSE and has not made any provision for the possible losses.
(c) The audited financial statement, valuation of the unquoted investments are subject to the valuation by independent valuer, as per management explanation they are under process to carrying out fair valuation from registered valuer , these are shown its investment value.
Note 30: Corporate Social Responsibility
The Company does not meet the criteria specified in sub section (1) of section 135 of the Companies Act, 2013, read with Companies [Corporate Social Responsibility (CSR)] Rules, 2014. Therefore it is not required to incur any expenditure on account of CSR activities during the year.
Note 31: Segment Reporting -
The Company is one of the RBI registered NBFC Company and is primarily engaged in the business financing as well as of trading in shares and securities and there is no reportable secondary segment i.e. geographical segment. Hence, the disclosure requirement of Accounting Standard-17 "Segment Reporting" as notified by Companies (Accounting Standards) Rules, 2006 (as amended) is not applicable.
Note 33: Details of Loans given, Investments made, guarantees given covered under Section 186(4) of The Companies Act, 2013
Since your Company is one of the RBI registered NBFC (Non-deposit taking Company), provision of Section 186 of the Companies Act, 2013 are not applicable to the Company.
Note 38" There is no capital work in progress whose completion is overdue or has exceeded its cost compared to its original plan.
Note 39: There are no Intangible assets under development or whose completion is overdue or has exceeds its cost compared to its original plan.
Note 40: There is no proceedings have been initiated during the year or are pending against the company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder as at 31st March 2024.
Note 41: The company has been availed working capital / overdraft limits from Banks or financial institutions on the basis of security of current assets and the quarterly / monthly returns or statements filed by the company with such banks or financial institutions are in agreement with the books of accounts of the company and there are no material deficiencies to disclose.
Note 42: The Company has not been declared as a willful defaulter by any bank or financial institutions or by any other lender.
Note 43: The Company has not borrowed any long term fund from the bank or financial institutions during the year.
1. Variation in Current Ratio is due to increase in Borrowings during FY 2023-24 in comparison to FY 2021-22.
2. Variation in Equity Return ratio in due to increase in Profit during FY 2023-24
3. Variation in Trade Receivable is due to increase in margin payment to Brokers for getting extended trade
limits resulted into higher turnover volume, as per SEBI Norms. The Company has made payment of dues on account of trade payables during the year.
4. The variation for Return of Investment in due to profit in cash & derivatives segment as well as profit on short term investments in listed equity shares.
Note 45:
There is no charge or satisfaction of charges is yet to be registered with the Registrar of Companies.
Note 46:
The company has followed / complied with the number of layers prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rule 2017.
Note 47:
There is no scheme of arrangements has been approved by the competent authority in terms of section 230 to 237 (Corporate Restructuring) of the Companies Act 2013.
Note 48:
The company did not have any transactions relating to previously unrecorded income that have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961. However, the company has been settled its income tax demand under the Vivad Se Vishwas Scheme on account of addition of share capital raised during the previous years.
Note 49: Details of CSR
The provision of the Companies Act, 2013 relating to CSR Initiatives are not applicable to the Company.
Note 50:
The company has not trade or invested Crypto currency or virtual currency during the financial year.
Note 51:
The company has not entered in any transactions with any struck off companies under section 248 of the Companies Act 2013 or section 560 of the Companies Act 1956.
Note 52:
The company has not borrowed any funds for the purpose of further lending, investment, guaranty or security to the third parties during the year. However the fund borrowed and utilized for lending, investment, guarantee or security to the third parties during the earlier previous years for short term purpose are partially outstanding as on 31st March 2024.
Note 53:
There are no material differences between the gross and net (WDV) carrying amounts of each class of assets, hence the reconciliation is not required.
Note 54:
There are no Micro and Small Scale Business Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2024. This information as required to be disclosed under Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.
Note 58: Other Notes to Accounts
i. In the opinion of the management, current assets, loans and advances and other receivables are approximately of the value stated, if realized in the ordinary course of business. The provisions of all known liability are ascertained, except for Trade Receivables. Since the receivables are dues for more than one year, we are not certain about the recoveries of the same. The Company is confident of receiving the dues and hence no contingency liabilities have been provided.
ii. Previous year figures have been restated to confirm the classification of the current year.
iii. Balances of Sundry Debtors, Unsecured Loans, and Sundry Creditors are Loans & Advances are subject to reconciliation, since conformations have not been received from them. Necessary entries will be passed on receipt of the same if required.
iv. The company has not provided for Gratuity and Leave Encashment to Employees on accrual basis, which is not in conformity with AS-15 issued by ICAI. However, in the opinion of management the amount involved is negligible and has no impact on Statement of Profit & Loss.
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