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
1 Capri Global Securities Private Limited Wholly owned Subsidiary
2 Capri Global Investment Advisors Private Limited Wholly owned
3 Capri Global Distribution Company Private Limited Wholly owned
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
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
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)
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
14. Previous year figures
Previous year figures have been regrouped and reclassified wherever
necessary to confirm to current year''s presentation.