1. CORPORATE INFORMATION
IMC Finance Ltd (IMC) is company established in the year 1982. IMC has
its registered office at Unit No. 10, Sarvodaya Industrial Premises
Co-op Society Ltd. 43, Mahakali Caves Road, Andheri (East), Mumbai -
400093. The company has obtained registration from RBI to carry NBFI
activity.
The main object of the company is to work as an investment company and
to invest or cause to be invested the capital and other funds of the
company and to finance industrial enterprises and to promote companies
engaged in industrial and trading business, invest or cause to be
invested the capital of the company or funds of the company or any fund
raised by the company for the purpose of the investment, and to invest
in stock or to acquire or to hold or sell or buy or otherwise deal in
shares, bonds, units, obligation and other securities of any company or
securities issued by any government or any lawful authority.
2. Previous year figures have been regrouped, recast and rearranged
wherever necessary to make them comparable with the figures of the
Current year. Figures in bracket represent those for previous year.
3. There are no amounts payable to any Micro, Small and Medium
enterprises.
4. The amount of audit fees, fees for taxation and other matters
include 72,286/- (P.Y. 71,359/-), 7989/- (P.Y. 7989/-) and 72163/-(P.Y.
74,079/-) respectively towards service tax and education cess.
5. The Company is entitled to MAT Credit of 71,01,162/- for earlier
year which Shall be recognized as an asset as and when there are
convincing evidence for the realization of the same.
6. Segment information
(a) Primary Segment
The business segment has been considered as the primary segment. The
Company operates only in one business segment viz. Finance and
Investments.
(b) Secondary Segment
The company operates in India and hence there are no reportable
geographical segments.
7. The particulars as required by Non-banking Financial (Non-deposit
Accepting or Holding) Companies Prudential Norms (reserve Bank)
Directions, 2007 are given in the note appended hereto.
8. Additional information required pursuant to part II of Schedule VI
to the Companies Act, 1956 are not applicable to the Company.
Notes:
1 As defined in Paragraph 2(1) (xii) of the Non-Banking Financial
Companies Acceptance of Public Deposits (Reserve Bank) Directions,
1998.
2 Provisioning norms shall be applicable as prescribed in the
Non-Banking Financial (Non-Deposit Accepting or Holding) Companies
Prudential Norms (Reserve Bank) Directions, 2007
3 All Accounting Standards and Guidance Notes issued by ICAI are
applicable including for valuation of investment and other assets as
also assets acquired in salification of debt. However, Market value in
respect of quoted investment and break-up/ fair value / NAV in respect
of unquoted investment should be disclosed irrespective of whether they
are classified as long term or current in column (4) above.
4 Previous years figures are in brackets.
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