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Moneycontrol.com India | Notes to Account > Finance - General > Notes to Account from Amit Securities - BSE: 531557, NSE: N.A
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Amit Securities
BSE: 531557|ISIN: INE137E01014|SECTOR: Finance - General
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« Mar 11
Notes to Accounts Year End : Mar '12
Basis of Preparation
 
 These financial statements are prepared in accordance with Indian
 Generally Accepted Accounting Principles (GAAP) under the historical
 cost convention on the accrual basis except for certain financial
 instruments which are measured at fair values. GAAP comprises mandatory
 accounting standards as prescribed by the Companies (Accounting
 Standards) Rules, 2006, the provisions of the Companies Act, 1956 and
 guidelines issued by the Securities and exchange board of Indian
 (SEBI). Accounting policies have been consistently applied except where
 a newly issued accounting standard is initially adopted or a revision
 to an existing accounting standard requires a change in the accounting
 policy hitherto in use.
 
 a.  Terms / Rights Attached to Shares
 
 i.  Equity Shares
 
 The Company has only one class of Equity shares having a par value of
 10/ Each holder of equity shares is entitled to one vote per share.
 
 The Company declares and pays dividends in Indian rupees if any.
 
 During the Year Ended 31st March 2012 the amount per share dividend
 recognized as distributions to equity shareholders was Rs. NIL (For
 31st March 2011 was Rs. NIL)
 
 In the event of liquidation of the Company, the holders of equity
 shares will be entitled to receive any of the remaining assets of the
 company, after distribution of all preferential amounts. The
 distribution will be in proportion to the number of equity shares held
 by the shareholders.
 
 b.  As there is no Holding Company, details of Shares held by holding /
 ultimate holding and or their subsidiaries / associates is not
 applicable.
 
 c.  There are no Shares reserved for issue under options / Contracts /
 Commitments.
 
 d.  No Shares were Issued other than by Cash / Issued by way of Bonus /
 Brought Back in immediately preceding Five Years.
 
 e.  There are no Securities Issued by the Company which will be
 converting into Shares.  
 
 f.  There are no Calls Unpaid on any class of shares.
 
 1 LONG TERM LOANS & ADVANCES
 
 b.  No Loans & Advances have been given to the Director / Officers of
 the Company.
 
 2. SEGMENT REPORTING
 
 a.  Identification of Segments
 
 The Operation of Company relates to Only one business segment of
 carrying Investments and Trading of Shares and Advances, hence no
 separate information is required to be given.
 
 3. LEASES
 
 The Company has not accquired any assets either on Finance, lease or
 under operating lease on which AS-19-Lease issued by the Institute of
 Chartered Accountants of India are applicable.
 
 4. EMPLOYEE BENEFIT
 
 No Provision for Graturity and Leave Encashment as required by AS-15
 has been made as the required eligible number of employee with the
 Company are below then required by the relevant acts, hence no
 disclosure was required to be made.
 
 5. DISCLOSURE UNDER MICRO SMALL AND MEDIUM ENTERPRISES DEVELOPMENT
 LIMITED
 
 There are no transactions done by the company with Micro Small and
 Medium Enterprises
 
 6. CONTINGENT LIABILITY / COMMITMENTS
 
 Particulars
 
 Contingent Liabilities                              0           0
 
 Commitments
 
 Estimated Amount of Capital Contracts 
 Pending to be executed                              0           0
 
 Estimated Amount of Revenue Contracts 
 Pending to be executed                              0           0
 
 7. In the opinion of the Board, the Current Assets, Loans & Advances
 are approximately of the value which are stated in the Balance Sheet if
 realized in the ordinary course of business.
 
 8. PREVIOUS YEAR FIGURES
 
 Till the Year End 31-03-2011 the company was using old schedule VI of
 the Companies Act 1956, for the preparation and presentation of its
 Financial Statements. During the year ended 31-03-2012, the Revised
 Schedule VI notified under the Companies Act 1956, has became
 applicable to the Company.  The Company has reclassified and regrouped
 the Previous Year Figures to confirm the current classification.
Source : Dion Global Solutions Limited
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