| 1. CORPORATE INFORMATION
ARI Consolidated Investments Limited is engaged in Non Banking Finance
Company registered with Reserve Bank of India. The Company is
principally engaged in investing activities.
2. BASIS OF PREPARATION
The Financial Statements of the Company have been prepared and
presented in accordance with the Generally Accepted Accounting
Principles in India (Indian GAAP) under the Historical Cost Convention
on an accrual basis of accounting. The Company has prepared Financial
Statements to comply in all material respects with the Accounting
Standards specified under section 133 of the Companies Act 2013 read
with rule 7 of Companies (Accounts) Rules 2014.
The Accounting Policies adopted in the preparation in Financial
Statements are consistent with those of previous year.
3. Terms/Rights attached to Equity Shares
The company has only one class of equity shares having par value of Rs.
100 per share. Each holder of equity share is entitled to one vote per
share. The company declares and pays dividend in Indian Rupees. The
dividend Proposed by the Board of Directors is subject to the approval
of the shareholders in the ensuing Annual General Meeting. During the
year 31st March 2015, the amount of per share dividend recognised as
distributuions to equity shareholders was Rs.40/- (31st March 2014:
Rs.40/-). In the event of liquidation of the company, the equity
shareholders will be solely entitled to receive assets of the company.
The distribution will be in the proportion to the number of equity
shares held by each of the shareholder.
4. Footnote
(i) (a)Secured by mortgage of office premises at Marathon Nextgen.
(b)Terms of borrowings: Loan against Commercial Property repayable in
120 months at the interest rate of Kotak Base Rate 3.75%
(ii) (a)Secured by additional charge on mortgaged office premises at
Marathon Nextgen.
(b)Terms of borrowings: Loan against Commercial Property repayable in
84 months at the interest rate of Kotak Base Rate 2.25% for business
purpose.
* Based on the information available with the company and relied upon
by the auditors, there were no dues payable during the year or at the
end of the year to the suppliers covered under the Micro Small Medium
Enterprise Development Act, 2006 (MSMED Act,2006). Thus the
disclosures pertaining to the same are not applicable to the Company.
* During the year, the Company has only two employees on the payroll,
who are paid consolidated salary without any contribution to PF & other
funds, hence disclosures as per AS-15 are not applicable.
5. Contingent Liabilities And Commitments
Guarantees given by the Company for Inarco Limited - wholly owned
subsidiary : The Company's present and future immovable assets are
mortgaged to State Bank of India (SBI) and Corporate Guarantee of Rs.
1975 lacs (Previous Year : Rs. 775 lacs) was given to SBI towards term,
working capital loans taken by Inarco Limited, wholly owned subsidiary.
6. In the opinion of the Board, the current assets, loans and
advances are approximately of the value stated, if realised in the
ordinary course of business. The provision for depreciation and all
known liabilities is adequate and not in excess of the amount
reasonably necessary. There are no contingent liabilities, other than
those mentioned above. No personal expenses have been debited to Profit
& Loss Account.
7. Additional information pursuant to provisions of paragraphs 5 (to
the extent applicable to manufacturing & trading companies), ii to vi
and viii of Part II of Schedule III of the Companies Act, 2013 is not
applicable, as the Company does not have any manufacturing or trading
activity.
8. Segmental Reporting
The Company has disclosed Business Segment as the primary segment. The
segments have been identified & reported on the basis of nature of
activity. The Company does not have any geographical segment. Segment
Revenue, Segment Results, Segment Assets and Segment Liabilities
include tire respective amounts identifiable to each of the segments as
also amounts allocated on a reasonable basis. The net expenses, which
are not directly attributable to the Business Segment, are shown as
unallocated corporate cost. Assets and Liabilities that cannot be
allocated between the segments are shown as a part of unallocated
corporate assets and liabilities respectively. There are no inter
segment transactions.
9. Related Party Disclosure
1. Relationships:
a. Wholly owned subsidiary : Inarco Limited
b. Promoters holding more than 20% of the : Mr. Arvind Bhandari
voting power
c. Director of the Company (upto 21st : Mr. N.B. Javeri
August, 2014)
10. Figures of previous year have been regrouped/rearranged wherever
necessary.
| 