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HB Leasing and Finance Company
BSE: 508956|ISIN: INE549B01016|SECTOR: Finance - Investments
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Mar 12
Notes to Accounts Year End : Mar '13
1 CONTINGENT LIABILITIES AND COMMITMENTS (TO THE EXTENT NOT PROVIDED
 FOR)
 
 (a) Income Ta x demand disputed Rs. 13,43,03,760/- (Previous year Rs.
 13,13,42,090/-) against which appeals are pending with appropriate
 authorities.
 
 (b) Claims against the company not acknowledged as debts Rs.
 1,58,02,781/- (Previous Year Rs. 1,58,02,781/-)
 
 (c ) Guarantees given on behalf of Related Parties:- Rs. 7,00,00,000/-
 (Previous Year Rs. 7,00,00,000/-)
 
 In the Opinion of the Management,the aforesaid guarantees had been
 given in view of overall long term business involvement/relation of the
 company with the aforesaid companies and the giving of aforesaid
 guarantees will not have any prejudicial impact on the company.
 
 2 RELATED PARTY TRANSACTIONS
 
 2.1 List of related parties with whom transactions have taken place
 and relationship:
 
 a) Companies under direct or indirect common infuence:
 
 1.  HB Securities Ltd.  2. HB Estate Developers Ltd.
 
 3.  RRB Master securities Delhi Ltd.
 
 b) Persons having direct/Indirect signifcant infuence 1.  Sh.Lalit
 Bhasin
 
 3 Disclosure pursuant to Accounting Standard AS-19 for Leases: -
 Operating Lease
 
 a) Particulars of the minimum lease payments under Operating Lease:-
 Not Later than One year Rs. 3,22,524/- (Previous Year Rs. 3,16,608/-) Later
 than one year but not Rs. NIL/- (Previous Year Rs. NIL/-)
 
 Later than fve years
 
 Later than fve years Rs. NIL/- (Previous Year Rs. NIL/-)
 
 b) Minimum lease payments recognised in the statement of proft & loss
 account during the year ended 31st March 2013 is Rs. 3,22,524/- (Previous
 Year Rs. 3,16,608/-).
 
 c) General description of the lease arrangement.
 
 The lease is for an initial period of 3 years, which may be renewal for
 further period as may be mutually agreed upon.
 
 Restrictions imposed by lease arrangement:-  The Lessee shall not
 sublet or otherwise part with possession of a part or whole of the
 premise without the previous consent in writing of the lessor.
 
  The lessee shall use the premises for commercial purposes only.
 
 4 Due to Micro, Small and Medium Enterprises
 
 To the extent information available with the company,it has no dues to
 the Micro, Small and medium enterprises as at 31st March, 2013 and 31st
 March, 2012.
Source : Dion Global Solutions Limited
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