Debtors includes Rs.Nil due for the related concern or related parties and trade receivable of Rs 12.07 lacs which is overdue for a period exceeding Six Months Excludes Rs. 16.01 Lacs paid to Bombay stock exchange on account of wrong purchase Trade done on 1st April 2013 in 100000 equity share of Ashutosh Paper Mills Ltd. For which company has filed a judicial case which is pending in court. During the financial year this is amount had been written off in the financial Statement. The Disputed Shares are lying in the demat account of company.
Note 1. The Equity Securities which are not held for trading , for which the company has made an irrevocable election at initial recognition to recognise changes in Fair Value through OCI rather than profit and loss account as these are strategic investments and the company considered this to be more relevant.
Stocks of quoted share /debentures and other securities are valued at fair price. The difference between the fair value of inventory and the cost price or market price has been recognised in profit and loss account. Stock of unquoted and physical shares and other securities valued at the cost price
On Trasition to IND As, the carrying value of Investment Property under the previous GAAP have been considered as carrying amount to be the deemed under IND AS. Investment in Property has been made in immoveable property for capital appriciation being a land situated in Noida book value of which is 17.04/- Lacs and fair market value of the land is same as on the reporting date.
16.01) Trade Payable includes Rs. Nil payable to Director of company.
16.02) Trade Payable Includes Rs. 10.54 Lacs received form Unknown clients no further instruction have been received from stock exchange hence this amount has been kept in current Clients account .
16.03) Trade Payable Includes Rs. 2.56 Lacs payable to old dormant clients which is not traceble for payments and hence not settled (as per instruction of Stock Exchange. There were no amounts which were required to be tranferred to the investor education and protection fund by the company.
37 Contingent Liabilities and Commitments :
The Company is contingently liable for bank guarantees outstanding for an amount of Rs.Nil (Previous Year Rs.268.75 lacs
43 Additional Information to financial statements : a Details of Benami property held
The company does not have any benami property where any proceeding have been initiated or pending against the company for holding any benami property under the Benami Transaction ( Prohibition ) Act 1988 and rules made there under.
b Wilful defaulter
The company has not declared as wilful defaulter by any bank or financial institution or any other lender. c Relationship with Struck off co.
The company has not done any transaction with any company which has been struck off under section 248 of companies act 2013 and section 560 or companies act 1956. d Registration of charge at registrar of companies
There is no charge or satisfaction of charges which is yet to be registered with Registrar of Companies. e Crypto Currency or Virtual Currencies
Company has not traded or invested in any crypto currencies or virtual currencies during the financial year. f Undisclosed Income
The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 ( such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).
g Loans and advances and end use of funds
The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understand that Intermediary shall:
a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or
b) Provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding party) with the understanding (whether recorded in writing or otherwise) that the company shall:
a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the
b) Provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
44 Fair Value Measurement Fair value hierarchy
The Company determines fair value of its financial instruments according to following hierarchy:
Level 1: Category includes financials assets and liabilities that are measured in whole or significant part by reference to published quotes in an active market
Level 2: Category includes financials assets and liabilities that are measured using a valuation technique based on assumptions that are supported by prices from observable current market transactions.
Level 3: Category includes financials assets and liabilities that are measured using valuation techniques based on nonmarket observable inputs and subsidiaries/ associates are carried at deemed cost. This means that fair value are determined in whole or in part using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data. The main asset classes in this category are unlisted equity investments as well as unlisted funds.
45 Financial Risk Management
The Company is exposed to market risk, strategic, financial, security, property, IT, legal, regulatory, reputation credit risk liquidity & interest rate risk, capital management risk and other risk. The Company's risk management function is carried out by the Risk Management department that is guided and supported by Risk Management Committee that reviews risk management policy annually that advises on financial risks and the appropriate governance framework for the Company. The Risk Management Committee provides assurance to the Board that the Company's financial risk activities are governed by appropriate policies procedures and that financial risks are identified measured and managed in accordance with the Company's policies and risk objectives. The major risks are summarised below:
Market Risk :-
Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices.
(i) Price Risk
The Company has quoted investments which are exposed to fluctuations in stock prices.
However, the company continuously monitors market exposure for both equity and Mutual Funds.
(ii) Foreign exchange risk
There are no transactions entered in foreign currency and therefore it is not exposed to foreign currency risk.
(iii) Interest Rate Risk
interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company may be impacted by volatility in interest rates in India which could cause its margins to decline and profitability to shrink. As the company does not have any borrowing except in nature of Overdraft Facility against pledge of Fixed deposit receipts so the company is not subject to interest rate risk on account of any fluctuation in the base rate fixed by the banks. The Company seeks to match its interest rate positions of assets and liabilities to minimize interest rate risk.
Credit risk management
In case of Trade receivables the collections of trade dues are strictly monitored and all are realisable within a period of 12 months.
There are no lending loans to the company at the end of reporting period hence, not associated with credit risk.
Liquidity risk
Liquidity risk is the risk that an entity will encounter difficulty in meeting obligations associated with financial liabilities that are settled by delivering cash or another financial asset.
The company maintains adequate liquidity in the system so as to meet its all financial liabilities timely. In addition to this, the company's overall financial position is very strong so as to meet any eventuality of liquidity tightness as the company operates on cash basis which is highly liquid.
Capital Management Risk
The Reserve Bank of India (RBI) sets and monitors capital adequacy requirements for the Company from time to time.However capital adequacy norms are not applicable to the company.
The company manages its capital to ensure:-
to continue as a going concern while maximising its return to shareholders and an optimum capital structure to reduce the cost of capital
The company's capital structure is determined by the Management from time to time on the basis of factors such as profitability, liquidity etc.
46 Information pursuant to the provisions of Sect on 22 of M ic ro, S ma I l an d M ed i um Enterprises Development Act, 2006 During the year company has not paid any interest in terms of the section 18 of the above mentioned act. No principal amount or interest amount are due at the end of this accounting year which is payable to any Micro, Small or Medium enterprises as defined in the Micro, Small and Medium Enterprises Development Act, 2006.
47 The Company has prepared these financial statements as per the format prescribed by Revised-Amended Schedule III to the Companies Act, 2013 ('the schedule') issued by Ministry of Corporate Affairs. Previous year figures have been recast /restated, regrouped, rearranged, reclassified to conform to the classification of the current year.
48
Shares pledge by Clients as margin in Futures & option and Capital market have been repledge with our clearing member M/s Globe Capital Market Ltd. and also Lying with the our different beneficiary account in Depository have not been taken in our books of accounts, as the beneficial ownership belongs to the clients only and also Tds on Dividend Received on these share does not belongs to dividend income of the company as beneficial owner of these share are clients of the company hench such dividend income has been credited to respective clients.
49 The accounts of certain Sundry Debtors and Creditors, Advances Received from customers and Advance paid to suppliers are subject to confirmation / reconciliation and adjustment, if any. The Management does not expect any material difference affecting the current year's financial statements. In the opinion of the management, the current assets, loans and advances are expected to realize at least the amount at which they are stated, if realized in the ordinary course of business and provision for all known liabilities have been adequately made in the books of accounts.
50 The Entire operation of the company relates to only one reportable segment therefore segment reporting by Ind As 108 is not required
51 The Current Period refers to the period April 01, 2023 to March 31, 2024. (Previous year refers to April 01, 2023 to March 31, 2024). The figures appearing in the financial statements have been rounded off to nearest lacs as per amendment made in Such-III of Company Act and are in agreement with the books of accounts or group of account.
| 