1.1 Terms/Rights attached to equity shares:
 
 The Company has only one class of equity shares 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 2012, the amount of per share dividend
 recognized as distributions to equity shareholders was Rs 1.00/- (31
 March 2011 Rs 1.25/-)
 
 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.
 
 There are 37,26,086 (31 March 2011: 37,34,487)warrants outstanding as
 at the end of the year. The warrant holders at their option can convert
 the warrants into equity shares in the ratio of 1:1 as per the Warrant
 Exercise Price.  The 4th conversion period of warrants will begin from
 December 27, 2012 and will close on March 26, 2013 and 5th Conversion
 period of warrants will begin from December 27, 2013 and will close on
 March 26, 2014.  Warrant Exercise Price shall be calculated as 20%
 discount to the Market Price subject to a minimum of Rs 10/- and the
 Market Price shall be the higher of the following:
 
 (a) The average price of the Equity shares of the Company computed as
 the average of the weekly high and low of the closing prices of the
 shares of the Company during the six months immediately preceding the
 month in which the exercise price is announced; or
 
 (b) Average of the weekly high and low of the closing prices of the
 related shares during the two weeks preceding the month in which the
 exercise price is announced.
 
 Note:
 
 2(i) Cash & foreign currency seized by Central Bureau of Investigation
 in the previous year has been released during the current year.
 
 2(ii) Fixed Deposits of Rs 29.50 Lacs (31 March 2011: Rs NIL) have been
 pledged as security for overdraft facility from bank.
 
 3. Retirement Benefit - Gratuity (AS -15)
 
 From the current financial year, the Company has funded (upto previous
 year unfunded) Defined Benefit Obligation Plan for gratuity to its
 employees, who have completed five years or more of service, under the
 group gratuity scheme of Life Insurance Corporation (LIC) of India. The
 Company has created planned assets by contribution to the gratuity fund
 with LIC of India.
 
 Consequent to the adoption of revised AS- 15 ''Employee Benefits''
 issued under Companies (Accounting Standards) Amendment Rules, 2008,
 the following disclosures have been made as required by the standard.
 
 Since the enterprise used the intrinsic value method the impact on the
 reported net profit and earnings per share by applying the fair value
 based method is as follows:
 
 In March 2005, ICAI has issued a guidance note on Accounting for
 Employees Share Based Payments applicable to employee based share
 plan, the grant date in respect of which falls on or after April 1,
 2005. The said guidance note requires that the preformed disclosures of
 the impact of the fair value method of accounting of employee stock
 compensation accounting in the financial statements applying the fair
 value based method defined in the said guidance note. The impact on the
 reported net profit and earnings per share would be as follows;
 
 4. Segment Reporting (AS - 17)
 
 Basis of Preparation
 
 Information is given in accordance with the requirements of Accounting
 Standard 17 on Segment Reporting issued by the Institute of Chartered
 Accountants of India. Revenues and expenses directly attributable to
 the Segments are allocated to the respective segments. Those revenues
 and expenses which cannot be directly allocated to the Segments are
 apportioned on a reasonable basis. Segment Capital employed represents
 the net assets in that Segment. It excludes Capital reserve and tax
 related assets.
 
 Business Segments
 
 The Company''s business is organized and management reviews the
 performance based on the business segments.  The Company''s business may
 be divided into three major Segments.
 
 (A) Investment & Trading in Securities
 
 (B) Financing Activity and
 
 (C) Financial Advisory Services Geographical Segments
 
 The Company''s operations are solely in one Geographic segment namely
 ''Within India'' and hence no separate information for Geographic segment
 wise disclosure is required.
 
 5. 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 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 8.75 Lacs (31 March
 2011: Rs 38.98 Lacs).
 
 The lease payments recognized in the Statement of Profit & Loss in
 respect of cancellable lease for the year are Rs 293.67 Lacs (31 March
 2011: Rs 269.78 Lacs).
 
 The Company had sub-leased the office premises under operating lease in
 the previous year.
 
 The lease income recognized in the Statement of Profit & Loss for the
 year is Rs Nil (31 March 2011: Rs 46.37 Lacs).
 
 6.  The Company believes that no impairment of assets arises during
 the year as per Accounting Standards - 28 Impairment of Assets.
 
 7.  Contingent Liabilities
 
 On account of bank guarantee to the Central Bureau of Investigation
 against release of cash Rs 12.12 Lacs (31 March 2011: Nil)
 
 8.  (a) Foreign Currency Earnings Rs Nil (31 March 2011: Nil)
 
 (b) Foreign Currency Expenditure
 
 Professional Fees Rs Nil (31 March 2011: Rs 70.78 Lacs)
 
 Travelling Expenses Rs Nil (31 March 2011: Rs 5.38 Lacs)
 
 9.  Capital and other commitments
 
 a) Estimated amount of contracts remaining to be executed on capital
 account and not provided for Rs 77.32 Lacs (31 March 2011 Rs 78.61 Lacs)
 
 b) Other Commitments Rs NIL (31 March 2011 Rs NIL)
 
 10.  Details of dues to Micro and Small Enterprises as defined under
 the MSMED Act, 2006
 
 The Company has not transacted with any Micro and Small Enterprises as
 specified under MSMED Act, 2006.  Hence, the disclosure requirement
 under Section 22 of the said act is not applicable.
 
 11.  (a) Additional Disclosures as required in terms of Paragraph 13 of
 Non Banking Financial (Non-Deposit Accepting or Holding) Companies
 Prudential Norms (Reserve Bank) Directions, 2007 issued by Reserve Bank
 of India.
 
 12.  During the year, the Company has proposed dividend of Rs 1/- per
 share to Equity Shareholders.
 
 13.  The 3rd (third) warrant conversion period in relation to 37,34,487
 outstanding warrants of the Company commenced from 27th December, 2011
 and ended on 26th March, 2012. Warrant Conversion price was fixed at Rs
 77.54 (including premium of Rs 67.54). Warrant holders holding 8401
 warrants opted for conversion to equity shares and the Company received
 an amount of Rs 6.51 Lacs from the warrant holders who have exercised
 their option to convert warrants into equity shares. The shares were
 allotted on March 30, 2012. The said proceeds were not utilized & were
 parked in a separate bank account. As on the end of the year, 37,26,086
 warrants are outstanding.
 
 14.  In the opinion of the Board of Directors, the Current Assets and
 the Non - Current Assets have a value on realization in the normal
 course of business at least equal to the value at which they are stated
 in the Balance Sheet.
 
 15.  Previous year figures
 
 Till the year ended 31 March, 2011, the Company was using pre-revised
 Schedule VI to the Companies Act, 1956, for preparation and
 presentation of its financial statements. During the year ended 31
 March, 2012 the revised Schedule VI notified under the Companies Act,
 1956, has become applicable to the Company. The Company has
 reclassified previous year figures to conform to this year''s
 classification. Except accounting for dividend on investments in
 subsidiaries, the adoption of revised Schedule VI does not impact
 recognition and measurement principles followed for preparation of
 financial statements. However, it significantly impacts presentation
 and disclosures made in the financial statements, particularly
 presentation of balance sheet.