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Capri Global Capital
BSE: 531595|NSE: CGCL|ISIN: INE180C01018|SECTOR: Finance - General
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Notes to Accounts Year End : Mar '13
1.  Gratuity and other post employment benefit plans (AS - 15)
 
 The Company has a 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 recognised 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.  Leases (AS - 19) Operating Leases:
 
 The company has taken office premises, guest houses & motor car 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 leases are as follows:
 
 4.  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.
 
 5.  Contingent Liabilities
 
 On account of bank guarantee to the Central Bureau of Investigation
 against release of cash Rs. 12.12 Lacs (31 March 2012 : Rs. 12.12 Lacs)
 
 6.  Capital and other commitments
 
 a) Estimated amount of contracts remaining to be executed on capital
 account and not provided for Rs. 126.05 Lacs (31 March 2012 Rs. 77.32 Lacs)
 
 b) Other Commitments
 
 Pending disbursements of sanctioned loans Rs. 1,312.73 Lacs (31March
 2012, Rs. 3,500 Lacs)
 
 7.  Expenditure in Foreign Currency
 
 Foreign Travelling Expenses Rs. 18.38 Lacs (31 March 2012 : Rs. 0.25 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.  As per the Non - Banking Financial (Non-Deposit Accepting or
 Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007,
 the Company is required to make provision for standard assets at 0.25
 percent of the Standard Assets.  The Company has accordingly made
 provision of 0.25 percent on its standard assets as at 31st March,
 2012. However, in light of the current market environment, considering
 credit and market risks, as a prudent practice, the Company has decided
 to adopt an additional provisioning whereby in addition to standard
 provisioning of 0.25 percent, the Company will make an additional
 provision of 0.25 percent. Consequently, the profits of the current
 year are lower by Rs. 106.50 Lacs.
 
 10.  The 4th warrant conversion period in relation to 3,726,086
 outstanding warrants of the Company commenced from 27th December, 2012
 and ended on 26th March, 2013. Warrant Conversion price was fixed at Rs.
 106.07 (including premium of Rs. 96.07). Warrantholders holding 42,994
 warrants opted for conversion to equity shares and the Company received
 an amount of Rs. 45.60 Lacs from the warrantholders who have exercised
 their option to convert warrants into equity shares. The shares were
 alloted on 5th April, 2013. The amount received has not been utilized
 for any purpose as at the end of the year. As on the end of the year
 3,683,092 warrants are outstanding.
 
 11.  Utilization of money received on conversion of warrants
 
 During the year ended 31st March, 2013 the company raised Rs. 45.60 Lacs
 towards conversion of 42,994 warrants into equity shares. As on 31st
 March, 2013, the said proceeds were not utilized & were parked in a
 separate bank account.
 
 12.  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.
 
 13.  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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