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.
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
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
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
4. Leases (AS - 19)
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
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
12. Previous year figures Previous year figures have been regrouped and
reclassified wherever necessary to confirm to current year''s