| 1. The Company has provided Depreciation Fixed Assets i.e. Office
Equipments.
2. The Reserve Bank of India has rejected renewal application of the
Company as NBFC.
Disclosures in terms of Accounting Standards (AS 29) Provisions,
Contingent Liabilities and Contingent Assets issued by the Institute of
Chartered Accountants of India:
3. The Company has not made provisions for non-performing assets as
per prudential norms prescribed by Reserve Bank of India.
4. The Company has valued the Investments at cost against the cost or
Market value of each of scrip individually as recommended by accounting
standard issued by the Institute of Chartered Accountants of India. As
a value of invest has been shown higher.
5. The Company has made no provision for interest accrued amounting to
in respect of fixed deposits and unsecured Loans and no provision for
interest Secured Loan from Rural Electrification Corporation during the
year.
6. In our opinion of the Board of Directors, Currents Assets, Loans &
Advances have a value on the realization in the ordinary course of
business at cost equal to amount what has been in the Balance Sheet.
7. Certain Debit and credit balances including Sundry debtors and
Creditors, Bank balances and Advances are subject to confirmation and
consequential reconciliation thereof.
8. Segment Report
The Company has operated only in a segment during the year thus
Segmental Report is not applicable for the year under review.
9. Company has recorded the cumulative net deferred tax liabilities of
Rs. 1,62,42,359/- since 31st March 2003, which has been debited to
Profit & Loss appropriation. Deferred tax adjustment for the year ended
31st March 2014 amount to Rs. Nil (Additional Provision required for
deferred tax Liabilities accrued during the year.
10. Information required under part IV of the Companies Act has been
given Annexure-I
11. The Company has operated in only one segment i. e. Finance and
Investment, no segment wise report are applicable as required under
AS-17 issued by ICAI.
12. Previous Years' figures have been regrouped / rearranged wherever
necessary as to make them comparable with figures of the year under
consideration.
13. N ote "2" to "2.16" forms part of the balance Sheet and Profit &
Loss Account.
Rights, preference and restrictions attached to Equity Shares
The Company has one class of Equity shares having a par value of Rs.
10/- each. Each shareholder is eligible to one vote per share held.
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