1. In the opinion of the Management, the current assets and other
non-current assets have a value on realization in the ordinary course
of business, at least equal to the amount at which they are stated in
the Balance Sheet. Provision for all known liabilities is adequate and
not in excess of what is required.
2. Contingent Liabilities not provided in respect of:
Particulars Current Year Previous Year
Rs in Lacs Rs in Lacs
Disputed Income tax Demand 91.49 91.46
Total 91.49 91.46
4. Provision for Standard Assets is made at 0.25 per cent of the
outstanding standard assets as at 31st March, 2012 in terms of
Notification no.DNBS.222/CGM(US)-2011 dated 17-01-2011 issued by
Reserve Bank of India.
5. The Company has not received any intimation from suppliers
regarding their status under the Micro, Small and Medium Enterprises
Development Act, 2006 and hence disclosures, if any, relating to
amounts unpaid as at the year end together with interest paid/ payable
as required under the said act have not been given.
6. Gratuity (Non-Funded):
The Company has a defined benefit gratuity plan. Every employee who has
completed five years or more of service gets a gratuity on departure at
15 days salary (last drawn salary) for each completed year of service.
The following tables summarize the components of net benefit expense
recognised in the Statement of Profit and Loss and the funded status
and amounts recognised in the balance sheet.
7. Segment Reporting:
Based on guiding principles given in Accounting Standard - 17
''Segment Reporting'', issued by the Institute of Chartered
Accountants of India, the Company''s primary business segment is
Investing & Financing. These activities mainly have similar risks and
returns. As company''s business activities fall within a single
primary business segment the disclosure requirements of AS-17 in this
regard are not applicable.
8. Related Party Disclosures, as required by Accounting Standard (AS)
a) Name of Parties :
JSW Steel Ltd.
Sun Investments Pvt. Ltd.
Jindal Coated Steel Pvt. Ltd.
Jindal Overseas Pte. Ltd.
JSW Holdings Employees Welfare Trust
ii) Key Management Personnel:
Mr. K N Patel
9. The additional Information pursuant to revised Schedule VI to the
Companies Act, 1956 are either Nil or Not Applicable.
10. The financial statements for the year ended 31st March, 2011 were
prepared as per then applicable, pre-revised Schedule VI to the
Companies Act, 1956. Consequent to the notification of Revised Schedule
VI under the Companies Act, 1956, the financial statements for the year
ended 31st March, 2012 are prepared in compliance with the Revised
Schedule VI. Accordingly, the previous year figures have also been
reclassified/regrouped of conform to current year''s classification.
The adoption of Revised Schedule VI for previous year figures does not
impact recognition and measurement principles followed for preparation
of the financial statements. .
1. As defined in Paragraph 2(1)(xii) of the Non-Banking Financial
Companies Acceptance of Public Deposits (Reserve Bank) Directions,
2. Provisioning norms as prescribed in the Non-Banking Financial (Non-
Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank)
Directions, 2007 have been followed.
3. All Accounting Standards and Guidance Notes issued by ICAI are
applicable including for valuation of investments and other assets as
also assets acquired in satisfaction of debt. However, market value in
respect of quoted investments and break up/fair value/NAV In respect of
unquoted investments are disclosed irrespective of whether they are
classified as long term or current in (4) above.