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India Home Loans
BSE: 530979|ISIN: INE274E01015|SECTOR: Finance - Housing
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Mar 12
Notes to Accounts Year End : Mar '13
1.1 Disclosures required under Section 22 of the Micro, Small and
 Medium Enterprises Development Act, 2006
 
 Dues to Micro and Small Enterprises have been determined to the extent
 such parties have been identified on the basis of information collected
 by the Management. This has been relied upon by the auditors.
 
 1.2 Loans granted by the Company are secured or partly secured by
 
 (a) Equitable mortgage of property and / or
 
 (b) Pledge of shares, units, other securities, assignments of life
 insurance policies and / or
 
 (c) Hypothication of assets and / or
 
 (d) Bank guarantees, Company guarantees or Personal guarantees and / or
 
 (e) Undertaking to create a security
 
 1.3 The company has complied with the norms prescibed under Housing
 Finance Companies (NH6) Directions, 2010 for recognising Non-Performing
 Assets (NPAs) in preparation of accounts. The NPA consisting of the
 principal loans outstanding where payments of EMI were in arrears for
 over 90 days amounted to 765,35,761/- (Previous Year 787,48,942/-). As
 per the prudential norms prescribed by the National Housing Bank, in
 respect of credit exposures, the total provisioning made till 31st
 March, 2013 is 7 563,98,576/- (Previous Year 7 53,98,576/-). Details of
 which is as follows:
 
 1.4 In the opinion of the company, there is only one reportable
 business segment i.e Housing Finance Business Segment geographically
 only located in India for the purpose of Accounting Standard on
 Segment Reporting (AS-17) notified by the Companies (Accounting
 Standards) Rules, 2006
 
 1.5 The balances appearing under unsecured loans, sundry creditors,
 loans and advances, and certain banks are subject to confirmation and
 reconciliation and consequential adjustment, if any, will be accounted
 for in the year of confirmation and/or reconciliation.
 
 1.6 In the opinion of the Board, assets other than fixed assets do
 have a value on realisation in the ordinary course of business at least
 equal to the amount at which they are stated.
 
 1.7 The company has appropriated a sum of 7 12,76,780/- (Previous
 Year 7 NIL ) to reserve fund which is in compliance with the
 requirement of section 29C of the National Housing Bank Act 1987.
 
 1.8 The Company leases office under cancellable operating lease
 agreements that are renewable on a periodic basis at the option of both
 the lessor and the lessee. Rental payments under such leases are
 711,10,000/- (Previous Year 79,00,000/-) during the year.
 
 1.9 previous year''s figures have been regrouped / reclassified
 wherever necessary to correspond with the current year''s classification
 / disclosures.
Source : Dion Global Solutions Limited
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