SENSEX NIFTY India | Notes to Account > Finance - General > Notes to Account from Capri Global Capital - BSE: 531595, NSE: CGCL

Capri Global Capital

BSE: 531595|NSE: CGCL|ISIN: INE180C01026|SECTOR: Finance - General
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Notes to Accounts Year End : Mar '16

Contingent assets are not recognized in the financial statements.
However contingent assets are assessed continually and if it is
virtually certain that an economic benefit will rise, asset and related
income are recognized in the period in which the change occurs.

During the year ended 31st March 2016, the amount of per share dividend
recognized as distributions to equity shareholders was Rs, 1.50/-
(March 31, 2015 Rs, 1.50/-)

In the event of liquidation of the company, the holders of equity
shares will be entitled to receive remaining assets of the company. The
distribution will be proportional to the number of equity shares held
by the shareholders.

As per records of the company, including its register of
shareholders/members and other declarations received from shareholders
regarding beneficial interest, the above shareholding represents both
legal and beneficial ownerships of shares.

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 & to HDFC Standard Life Insurance Company.

The following tables summaries the components of the net employee
benefit expenses recognized in the Statement of profit and loss, and
the fund status and amount recognized in the balance sheet for the
gratuity benefit plan.

2. 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:


Name of the Related Party Relationship No

i) Subsidiaries Companies

1 Capri Global Housing Finance Private Limited Wholly owned Subsidiary

2 Capri Global Investment Advisors Private Limited Wholly owned
Subsidiary up to 31st March 2015

3 Capri Global Distribution Company Private Limited Wholly owned
Subsidiary up to 31st March 2015

4 Capri Global Finance Private Limited Wholly owned Subsidiary up to
31st March 2015

5 Capri Global Research Private Limited Wholly owned Subsidiary up to
31st March 2015

6 Capri Global Resources Private Limited Wholly owned Subsidiary

ii) Enterprises over which Management and/or their relatives have

1 Money Matters Infrastructure Private Limited

2 Parijat Properties Pvt. Ltd

3 Dreamwork Media & Entertainment Pvt. Ltd

4 Capri Global Holdings Pvt. Ltd

5 Ramesh Chandra Sharma - HUF

iii) Key Management Personnel

1 Mr. Sunil Kapoor Executive Director

2 Mr. Quinton E Primo III Non-Executive Chairman

3 Mr Harish Agrawal Company Secretar Chief Financial Officer (From
16-0ctober-2014 to

4 Mr. Anand Agarwa


3. The company believes that no impairment of assets arises during
the year as per Accounting Standard - 28 Impairment of Assets.

4. Contingent Liabilities

On account of bank guarantee to the Central Bureau of Investigation
against release of cash Rs, Nil (31st March, 2015: Rs, 12.12 Lacs)

5. Capital and other commitments

a) Estimated amount of contracts remaining to be executed on capital
account and not provided for Rs, 2.92 Lacs (31st March, 2015 Rs, 2.92

b) Amount payable towards acquisition of Property: Rs, 5,350.97 Lacs
(31st March, 2015 Rs, Nil)

c) Other Commitments

Pending disbursements of sanctioned loans Rs, 20,501.08 Lacs (31st
March, 2015 Rs, 8,541.59 Lacs)

6. Expenditure in Foreign Currency

Foreign Travelling Expenses Rs, 24.77 Lacs (31st March, 2015 : Rs,
12.63 Lacs)

Staff Welfare Expenses Rs, Nil (31st March, 2015 : Rs, 1.60 Lacs)

Director Sitting Fees Rs, 1.50 Lacs (31st March, 2015 : Rs, 1.00 Lacs)

7. 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 yearend together with
interest paid /payable are required to be furnished.

8. The Hon''ble High Court of Judicature at Bombay on 11th September,
2015 approved the Scheme of Amalgamation of Capri Global Distribution
Company Private Limited and Capri Global Finance Private Limited and
Capri Global Investment Advisors Private Limited and Capri Global
Research Private Limited (''the Transferor Companies'') with Capri Global
Capital Limited and their respective shareholders and creditors (''the
Scheme''). The Scheme became effective on 19*1 October, 2015 upon
obtaining all sanctions and approvals as required under the Scheme. The
Appointed Date for the merger is 1st April 2015. As the Transferor
Companies were wholly owned subsidiaries of the Company, no shares of
the Company were issued and allotted pursuant to the Scheme.

Pursuant to the Scheme, the entire business including the assets,
liabilities, duties & obligations of the Transferor Companies have
become vested in the Company w.e.f. 1st April, 2015. Since the Scheme
got the requisite approvals in the financial year ended 31st March,
2016, the impact of the amalgamation has been given in the current
financial year itself.

In accordance with the provisions of the Scheme; -

a The investments held by the Company in the Transferor Companies /
Wholly Owned Subsidiaries were cancelled. a The amalgamation is
accounted under the Pooling of Interest Method as per Accounting
Standard 14 - Accounting for

Amalgamations as referred to in the Scheme of Amalgamation approved by
the Hon''ble Bombay High Court. a The value of investments of the
Transferor Companies in the books of the Transferee Company was
equivalent to the paid up value of the Transferor Companies, hence no
goodwill or capital reserve was created on the said amalgamation.

Note : Pursuant to the Scheme, the entire business including the
assets, liabilities, duties & obligations of the Transferor Companies
have become vested in the Transferee Company w.e.f. Is'' April, 2015.
The figures for the year ended 31st March, 2016 are not comparable with
the corresponding previous year to that extent.

9. 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 0.30 percent of the
Standard Assets. However, as a prudent practice, the Company has
adopted to make provision of 0.50 percent. Consequently, during the
current financial year, the profits of the company are lower by Rs,
34.24 Lacs.

Further, in pursuance to the Company''s Board approved policy, the
Company has started making an additional Floating Provision on Standard
Assets of 1.5 percent and the same has been fully utilized towards
Write off to the extent of Rs, 1,489.43 Lacs.

10. 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.

12. Previous year figures

Previous year figures have been regrouped and reclassified wherever
necessary to confirm to current year''s presentation.

Source :
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