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Capri Global Capital
BSE: 531595|NSE: CGCL|ISIN: INE180C01018|SECTOR: Finance - General
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« Mar 14
Notes to Accounts Year End : Mar '15
1.1 Terms/Rights attached to equity shares
 
 The company has only one class of equity share having a par value of Rs.
 10 per share. Each holder of equity shares is entitled to one vote per
 share. The company declares and pays dividends in Indian Rupees. The
 dividend proposed by the Board of Directors is subject to the approval
 of the shareholders in the ensuing Annual General Meeting.  During the
 year ended 31st March 2015, the amount of per share dividend recognized
 as distributions to equity shareholders was Rs. 1.50/- (31 March 2014 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.
 
 2. Gratuity and oth er post employm ent 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 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.
 
 3. Employee Stock Option Plan 
 
 During the year, the Company has alloted 21,600 Equity shares as a
 result of Excersising Employee Stock Options at the Excersise price of
 Rs. 10/- per share. Further, there are no Employee Stock Options
 Outstanding as on the Balance Sheet Date.  25. Segment Reporting
 (AS-17)
 
 Primary Segment (Business Segment)
 
 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''.
 
 Secondary Segment (Geographical Segment)
 
 The Company operates only in domestic markets. As a result sepearate
 segment information for different geographical segments is also not
 disclosed.
 
 4. Leases (AS - 19)
 
 Operating Leases
 
 The company has taken office premises & guest houses under operating
 lease and the leases are of cancellable/ noncancellable 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 are having lock in period of six months to three
 years which are non-cancellable during that period. 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:
 
 The lease payments recognized in the Statement of Profit & Loss in
 respect of non-cancellable lease for the year are Rs. 3.23 Lacs (31 March
 2014: Rs. 102.71 Lacs).
 
 The lease payments recognized in the Statement of Profit & Loss in
 respect of cancellable lease for the year are Rs. 325.16 Lacs (31 March
 2014: Rs. 249.02 Lacs).
 
 The Company had sub-leased the office premises under operating lease in
 the current year.  The lease income recognized in the Statement of
 Profit & Loss for the year is Rs. 16.29 Lacs (31 March 2014: Rs. 8.87
 Lacs).
 
 5. The company believes that no impairment of assets arises during the
 year as per Accounting Standard - 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 2014: Rs.12.12 Lacs)
 
 7. Capital and oth er commitm ents
 
 a) Estimated amount of contracts remaining to be executed on capital
 account and not provided for Rs. 2.92 Lacs (31st March 2014 Rs. 20.42 Lacs)
 
 b) Other Commitments
 
 Pending disbursements of sanctioned loans Rs. 8,541.59 Lacs (31 March
 2014 Rs. 5,776.56 Lacs)
 
 8. 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.
 
 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 0.25 percent of the
 Standard Assets.  However, as a prudent practice from FY 2012-13, the
 Company has adopted to make provision of 0.50 percent.
 
 Consequently, during the current financial year 2014-15, the profits of
 the company are lower by Rs. 55.03 Lacs.  Further, during the year, the
 Company has decided to make Additional Floating Provision on standard
 asset of 1.50 Percent which will be available for adjustment towards
 provision for Sub-standard Assets. Accordingly an amount of Rs. 1374.42
 Lacs is provided as Additional Floating Provision, which has been
 partially utilised towards the Provision for Non Performing Assets to
 the extent of Rs. 92.68 Lacs.
 
 10. The Board of Directors in their meeting held on December 17, 2014
 have approved the Scheme of Amalgamation of Capri Global Distribution
 Company Private Limited, Capri Global Finance Private Limited, Capri
 Global Investment Advisors Private Limited and Capri Global Research
 Private Limited with Capri Global Capital Limited and their respective
 shareholders and creditors under sections 391 to 394. The Appointed
 Date for the merger is April 1, 2015. The Company has filed the
 Application with the Hon''ble Bombay High Court and awaiting further
 instructions from the Hon''ble Court. The Scheme is subject to various
 regulatory approvals including the Bombay High Court.
 
 11. 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 : Dion Global Solutions Limited
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