| 1 Corporate information
The Company is RBI Registered Non Banking Financial Company (Non
Deposit taking) engaged in the business of investment, trading in
shares and securities & Lending Activities.
Rights of Equity Shareholders
The Company has only one class of Equity Shares having par value of
Rs.10. Each holder of equity shares is entitled to one vote per share.
In the event of liquidation of the Company, the holder of equity shares
will being entitled to receive any of the remaining assets of the
company, after distribution of all preferential amount.
Note Particulars
2.1 Contingent liabilities and commitments (to the extent not provided
for)
(i) -As per Income Tax Department following tax demand is outstanding
against the company & it has not been provided in the accounts.
Assessment Demand u/s Short Amount paid Status of
Year Provision Protest / Refund Appeal
Adjusted
2008- 09 u/s 143 (3) 626759 2000000 Dept Appeal with
ITAT Pending
2009- 10 u/s 143 (3) 4311549 4311549 Dept Appeal with
ITAT Pending
2010- 11 u/s 143 (3) 1149123 1026610 Appeal with CIT
(A) pending
2011- 12 u/s 143 (3) 794908 - Rectification
of order u/s
143(3) pending
2.2 Trade Receivables, Trade Payables, Loans & Advances are subject to
confirmation
2.3 Employee benefit plans
As number of employees working in company are less than ten, provision
for gratuity as per Accounting Standard 15 issued by Institute of
Chartered Accountants of India does not apply to the company
The company has made provision for Leave Salary on the actual balance
leaves of the employees at year end at the basic salary of the
employees for the month of March 2014.
2.4 Profit from commodity segment consists of arbitrage in commodities
on various commodity exchanges.ie National Spot Exchange, NCDEX, MCX
through C& F Agents.
The Company has recognised deferred tax asset on unabsorbed
depreciation to the extent of the corresponding deferred tax liability
on the difference between the book balance and the written down value
of fixed assets under Income Tax (or) The Company has recognised
deferred tax asset on unabsorbed depreciation and brought forward
business losses based on the Management's estimates of future
profits.
Note 3
Note Particulars
3.1 Previous year's figures
Previous year's figures have been regrouped / reclassified wherever
necessary to correspond with the current year's classification /
disclosure.
|