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Capri Global Capital
BSE: 531595|NSE: CGCL|ISIN: INE180C01018|SECTOR: Finance - General
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« Mar 13
Notes to Accounts Year End : Mar '14
1.  Gratuity and other post employment benefit plans (AS - 15)
 
 The Company has an funded defined benefit obligation plan for gratuity
 under the Group Gratuity scheme of Life Insurance Corporation of India.
 The company has created plan assets by contributing to the Gratuity
 Fund with LIC Of India.
 
 The following tables summarise the components of the net employee
 benefit expenses recongnised in the Statement of profit and loss, and
 the fund status and amount recognised in the balance sheet for the
 gratuity benefit plan.
 
 2.  Segment Reporting (AS - 17) The Company operates mainly in the
 business segment of fund based financing activity. All other activities
 revolve around the main business. Further, all activities are carried
 out within India. As such, there are no separate reportable segments as
 per the provisions of AS - 17 on ''Segment Reporting''.
 
 3.  Disclosures as required by Accounting Standard (AS - 18) ''Related
 Party Disclosures'' in respect of transactions for the year are as under
 A) List of Related Parties over which control exists
 
 Sr. No.  Name of the Related Party Relationship
 
 i SUBSIDIARIES
 
 1 Capri Global Securities Private Limited Wholly owned Subsidiary
 
 2 Capri Global Investment Advisors Private Limited Wholly owned
 Subsidiary
 
 3 Capri Global Distribution Company Private Limited Wholly owned
 Subsidiary
 
 4 Capri Global Finance Private Limited Wholly owned Subsidiary
 
 5 Capri Global Research Private Limited Wholly owned Subsidiary
 
 6 Capri Global Resources Private Limited Wholly owned Subsidiary
 
 B) Enterprises over which Management and/or their relatives have
 control
 
 1 Money Matters Infrastructure Private Limited
 
 2 Parijat Properties Pvt Ltd
 
 3 Dreamwork Media & Entertainment Pvt Ltd
 
 C) Key Management Personnel
 
 1 Mr. P. H. Ravikumar Managing Director (Upto 24-January-2014)
 
 2 Mr. Rajesh Sharma Director (Chairman & Managing Director Upto
 11-April-2013)
 
 3 Mr. Quinton E Primo III Chairman (From 02-August-2013)
 
 4 Mr. Sunil Kapoor Executive Director (From 24-January-2014)
 
 4.  Leases (AS - 19)
 
 Operating Leases
 
 The company has taken office premises & guest houses under operating
 lease and the leases are of cancellable/non-cancellable in nature. The
 lease arrangement are normally renewable on expiry of the lease period
 at the option of the lessor/lessee ranging from 3 to 5 years. Some of
 the lease agreements having lease period of five years have a lock in
 period of three years which are non-cancellable in nature. After the
 expiry of the lock in period, the lease agreement becomes cancellable
 in nature at the option of the lessor or the lessee by giving 1-3
 months notice to the either party. There are no restrictions imposed by
 the lease agreement. There is no contingent rent in the lease
 agreement. There is escalation clause in some lease agreements.  The
 future minimum lease payments in respect of the non cancellable lease
 are as follows :
 
 5.  Impairment of Assets (AS - 28)
 
 The Company believes that no impairment of assets arises during the
 year as per Accounting Standards-28 Impairment of Assets.
 
 6.  Contingent Liabilities
 
 On account of bank guarantee to the Central Bureau of Investigation
 against release of cash Rs. 12.12 Lacs (31 March 2013 : Rs. 12.12 Lacs)
 
 7.  Capital and other commitments
 
 a) Estimated amount of contracts remaining to be executed on capital
 account and not provided for Rs. 20.42 Lacs (31 March 2013 Rs. 126.05 Lacs)
 
 b) Other Commitments
 
 Pending disbursements of sanctioned loans Rs. 5776.56 Lacs (31 March
 2013, Rs. 1,312.73 Lacs)
 
 8.  Expenditure in Foreign Currency
 
 Foreign Travelling Expenses Rs. 14.86 Lacs (31 March 2013 : Rs. 18.38 Lacs)
 
 Director Sitting Fees Rs. 0.60 Lacs (31 March 2013 : Rs. Nil)
 
 Capital Expenditure (Royalty) Rs. 605.79 Lacs (31 March 2013 : Rs. Nil)
 
 9.  Details of dues to Micro and Small Enterprises as defined under
 the MSMED Act, 2006 Based on the intimation received by the Company, 
 none of the suppliers have confirmed to be registered under The Micro, 
 Small and Medium Enterprises Development (''MSMED'') Act, 2006. 
 Accordingly, no disclosures relating to amounts unpaid as at the year 
 end together with interest paid /payable are required to be furnished.
 
 10.  The Non-Banking Financial (Non-Deposit Accepting or Holding)
 Companies Prudential Norms (Reserve Bank) Directions, 2007, require the
 Company to make provision for standard assets at 0.25 percent of the
 Standard Assets. However, as a prudent practice from FY 2012-13, the
 Company has adopted to make provision of 0.50. Consequently, during the
 current financial year 2013-14, the profits of the company are lower by
 Rs. 67.54 Lacs.
 
 During the year, the Company, has decided to provide an additional
 Floating provision on standard asset of 0.25 percent which will be
 available for adjustment towards provision for Substandard Assets.
 Accordingly an amount of Rs. 174.04 Lacs is provided as a Floating
 Provision, which has been adjusted towards the Provision for
 Substandard Assets, thereby having no impact on Profits for the year.
 
 11.  The 5th warrant conversion period in relation to 36,83,092
 outstanding warrants of the Company commenced from 27th December, 2013
 and ended on 26th March, 2014. Warrant Conversion price was fixed at Rs.
 109.62 (including premium of Rs. 99.62). Warrantholders holding 27,408
 warrants opted for conversion to equity shares and the Company received
 an amount of Rs. 30.04 Lacs from the warrantholders who have exercised
 their option to convert warrants into equity shares. The shares were
 alloted on 2nd April, 2014. The amount received has not been utilized
 for any purpose as at the end of the year. The balance 36,55,684
 warrants have lapsed.
 
 12.  Utilization of money received on conversion of warrants
 
 During the year ended 31 March, 2014 the company raised Rs. 30.04 Lacs
 towards conversion of 27,408 warrants into equity shares. As on 31
 March 2014, the said proceeds were not utilized & were parked in a
 separate bank account.
 
 13.  In the opinion of the Board, the Current Assets, Loans & Advances
 are realizable in the ordinary course of business at least equal to the
 amount at which they are stated in the Balance Sheet. The provision for
 all known liabilities is adequate and not in excess of the amount
 reasonably necessary.
 
 14.  Previous year figures
 
 Previous year figures have been regrouped and reclassified wherever
 necessary to confirm to current year''s presentation.
Source : Dion Global Solutions Limited
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