| 1. CONTINGENT LIABILITY :
The Company has received excess refund of income tax amounting to Rs.
194668/- on A/c of excess credit of TDS for A.Y. 2006-07, which has
been shown as current liabilities.
2. PROVISION FOR NPA :
In accordance with the guidelines issued by the RBI, the provision of
NPA for current year is Rs. NIL.
3. Margin money on account of Leased & Hire Purchase assets represent
difference between the purchase value of leased / hire purchase assets
and money advanced as loans.
4. The company has been granted certificate of Registration as
provided in section 45 IA of the RBI Act 1934 issued on 1-9-1999 but
the same is not valid for accepting deposits.
5. No employee is in employment of the Company throughout the
financial year for a remuneration which in aggregate exceeded Rs.
60,00,000/- per annum or employed for remuneration which in aggregate
exceeded Rs. 5,00,000/- per month, if employed for part of the year.
6. The Company's operations predominantely comprise only of one
segment i.e. financial services which include hire purchase, lease,
interest on ICD, loans and advances and hence the figures shown are
related to only that segment.
(i) DILUTED EARNING PER SHARE :
Diluted earning per share is same as Basic Earning per share as the
Company does not have any potential equity shares as defined under
AS-20 "Earning Per share" issued by ICAI.
7. Related parties disclosures :
1. Relationship :
(a) Key management personal :
Shri L.S. Karnawat - Chairman
Shri Kailash Karnawat - Managing Director
(b) Other related parties where control exists :
Pathik Hotel & Motel Ltd.
Karnawat Hire Purchase Pvt. Ltd.
Circle View Estate Pvt. Ltd.
Nakul Builders & Developers Pvt. Ltd.
Vardhman Fincon Pvt. Ltd.
Karnawat Brothers
Sampat Automobiles
Kailash Karnawat & Family (HUF)
Laxman Singh Karnawat & Sons (HUF)
Pushpa Devi Karnawat
(c) Relatives of key management personnel and their enterprises where
transaction have taken place :
M/s Kailash Karnawat & Family (HUF)
Mrs. Pushpa Devi Karnawat
M/s Sampat Automobiles
Note : Related party relationship is as identified by the Company and
relied upon by the Auditors.
2. Transaction carried out with related parties in 1 above in ordinary
course of business of the Company.
8. Disclosure as required under Circular No. Ref. DBS. FID. No. C-2 /
01-02-00 / 2003- 04, dt. 10-07-2003 has not been made.
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