IndiaNivesh Limited was incorporated on 21st December 1931. The company
is listed on the BSE and is a registered NBFC. IndiaNivesh Limited is
actively involved, as a principal, in acquisition and management of
Stressed Assets as well as consultancy services.
(i) The Company has one class of equity shares having a par value of
Rs. 10/-each. Each share holder is eligible for one vote per share
held. The dividend proposed by the Board of Directors is subject to
approval of the Shareholder in the ensuing Annual General Meeting
(ii) The Company does not have any holding Company / ultimate holding
(iii) No ordinary shares have been reserved for issue under option and
contracts / commitments for the sale of shares / disinvestment as at
the Balance Sheet date.
(iv) No shares have been allotted or has been bought back by the
Company without payment being received in cash during the period of 5
years preceding the date as at which the Balance Sheet prepared.
(v) No securities convertible into Equity / Preference shares issued
by the Company during the year.
(vi) No calls are unpaid by any Director or Officer of the Company
during the year.
Director remuneration paid during the year is not within the limits
mentioned in Sec 198 of Companies Act 1956 due to inadequate profits,
but company is fulfilling the conditions given in Schedule XIII of the
Companies Act 1956. So company has paid the remuneration to its
directors within the prescribed limits in Schedule XIII of Companies
2. Contingent Liabilities
Corporate Guarantee given on behalf IndiaNivesh Securities Pvt.ltd., a
subsidiary company of IndiaNivesh Limited:
a) to HDFC Bank Limited for Rs. 30,00,00,000/- (Previous year Rs.
b) to Oriental Bank of Commerce for Rs. 5,00,00,000/- (Previous year
c) to Bank of India for Rs. 10,00,00,000/- (Previous year Rs.
d) to Punjab National Bank for Rs. 10,00,00,000/- (Previous year Rs.
However against the same fixed deposit of Rs. 21.60crore given by
IndiaNivesh Securities Pvt.Ltd., as margin.
3. Segmental Reporting
As the Company presently operates predominantly in only under single
activity namely investments and consultancy. As such there is no
separate reportable business or geographical segments as per Accounting
Standard 17 on Segmental Reporting.
4. Related Party Disclosure
As per Accounting Standard 18 (AS-18) Related Party Disclosures
issued by ICAI, The related parties are as follows:
Related Party Disclosures:
(a) Relationship :-
(i) Subsidiaries / Associates Company:
1) Sneh Shares & Securities Pvt. Ltd. - Promoter Company
2) IndiaNivesh Securities Pvt. Ltd. - Subsidiary
3) Siddhi Multi-Trade Pvt.Ltd. - Subsidiary
4) IndiaNivesh Investment Advisors Pvt.Ltd.- Subsidiary
5) IndiaNivesh Fund Managers Pvt.Ltd.- Step down Subsidiary
(ii) Key Managerial Personnel:
1) Rajesh Nuwal - Managing Director
Note: Related party relationship is as identified by the Company and
relied upon by the Auditors.
5. On the basis of the information available with the Company, there
are no suppliers registered under the Micro, Small and Medium
Enterprises Development Act, 2006. Hence, information as required by
the said Act is not given
6. Special Reserve Fund has been created @ 20% of the net profit for
the year as provided by Section 451(C) of the Reserve Bank of India
7. Other additional information''s as per Revised Schedule VI part II
is either nil or not applicable to the company.
8. Consequent to the NOTIFICATION NO. S.O. 447(E), DATED 28-2-2011
[AS AMENDED BY NOTIFICATION NO. F.NO. 2/6/2008-CL-V, DATED 30-3-2011]
the above financial statements have been presented in accordance with
the Revised Schedule VI. As required under the said notification
corresponding figures for the previous year have been reclassified and
presented in accordance with the current year presentation.
Note 1 to 33 annexed hereto forms part of the Balance Sheet and
Statement of Profit and Loss