*Payment to key management personnel for Salaries and Incentive
includes to Ashok Kumar Jain (CMD) Rs 3643443 (Previous Year Rs
8135142) and Anita Gandhi (as Whole Time Director) Rs 2956800 (Previous
Year Rs 3566905) and to relatives of key management personnel includes
Shruti Jain Rs 557499 (Previous Year Rs 240000) and Kiran Jain Rs NIL
(Previous Year Rs 60000).
#Rent paid to Kiran Jain Rs 2205000 (Previous Year Rs 1145000), Ashok
Kumar Jain HUF Rs 412500 (Previous Year Rs 412500) and Arpit Jain Rs
412500 (Previous Year Rs 412500).
$Professional fees paid to S.N. Gandhi Rs 660000 (Previous Year Rs
% Sitting fees paid to Sunil kumar Jain Rs 40000 (Previous Year Rs
40000), Rakesh Jain Rs 40000 (Previous Year Rs 40000) ,Pankaj Kumar
Gupta Rs 20000 (Previous Year Rs 30000), Paragbhai Shah Rs 40000
(Previous Year Rs 30000) and Akhilesh Rathi Rs 30000 (Previous Year Rs
-Deposit given includes Kiran Jain Rs 1575000 (Previous Year Rs
1575000), Ashok Kumar Jain HUF Rs 300000 (Previous Year Rs 300000) and
Arpit Jain Rs 300000 (Previous Year Rs 300000).
1. Income in foreign currency Rs 20,593 (previous year Rs Nil).
Expenditure in foreign currency Rs 160699/- (previous year Rs Nil).
2. Contingent Liability & Capital Commitments
(i) Bank Guarantees of Rs 10 Lacs (Previous Year Rs 10 Lacs) extended
to Bombay Stock Exchange Limited under the mandatory rules for
membership and Rs 840 Lacs (Previous Year Rs 1190 Lacs) towards
(ii) Bank Guarantees of Rs 75 Lacs (Previous Year Rs 75 Lacs) extended
to National Securities Clearing Corporation Limited under the mandatory
rules for membership and Rs 2625 Lacs (Previous Year Rs 2750 Lacs)
towards additional margin.
(iii) Bank Guarantees of Rs 550 Lacs (Previous Year Rs 75 Lacs)
extended to MCX-SX Clearing Corporation Limited towards additional
(iv) Corporate guarantee of Rs 3000 Lacs (Previous Year Rs 1550 Lacs)
given to banks on behalf of subsidiary M/s Arihant Futures and
(v) Claims against the Company not acknowledged as debts Rs Nil
(Previous Year Rs 3.98 Lacs).
3. Fixed Deposits
Fixed deposits with scheduled banks include Rs 601.50 Lacs (Previous
Year Rs 120.00 Lacs) which is under the lien of National Securities
Clearing Corporation Limited, Rs 1.25 Lacs (Previous Year Rs 1.25 Lacs)
which is under the lien of Bombay Stock Exchange Limited, Rs 351.00
Lacs (Previous Year Rs 105.00 Lacs) which is under the lien of MCX-SX
Clearing Corporation Limited.
4. Disclosures under Micro, Small, & Enterprises Development Act,2006
Under the Micro, Small and Medium Enterprises Development Act, 2006,
certain disclosures are required to be made relating to Micro, Small
and Medium Enterprises (SME). The Company is in the process of
compiling relevant information from its suppliers about their coverage
under the said act. Since the relevant information is not readily
available, no disclosures have been made in the accounts. however, in
view of the management, the amounts due to the suppliers are paid
within the mutually agreed credit period and therefore, there will not
be any interest that may be payable in accordance with the provisions
of the Act.
5. Securities are normally held by the Company in its own name except
securities pledged with exchange. Securities, which are not registered
in the name of the Company, are held by the Company with valid transfer
6. Securities received from clients as collateral for margins are held
by the Company in its own name in a fiduciary capacity.
7. Segment Reporting
As per the definition of Business SegmentRs and Geographical
Segment'' contained in Accounting Standard 17 ''Segment Reporting'' the
management is of the opinion that the Company''s operation comprise of
operating in Primary and Secondary market and incidental activities
thereto, there is neither more than one reportable business segment nor
more than one reportable geographical segment, and, therefore, segment
information as per Accounting Standard 17 is not required to be
8. Previous year figures
Till the year ended 31st March 2011, the company was using pre-revised
Schedule VI to the Companies Act 1956, for preparation and presentation
of its financial statements. During the year ended 31st March 2012, the
revised Schedule VI notified under the Companies Act 1956, has become
applicable to the company. The company has reclassified previous year
figures to conform to this year''s classification.
9. The Ministry of Corporate Affairs, Government of India, vide
General Circular No.2 and 3 dated 8th Feb 2011 and 21st Feb 2011
respectively has granted a general exemption from compliance with
section 212 of the Companies Act,1956,subject to fulfillment of
conditions stipulated in the circular. The Company has satisfied the
conditions stipulated in the circular and hence is entitled to the
exemption. Necessary information relating to the subsidaries has been
included in the Consolidated Financial Statements.