1 CONTINGENT LIABILITY
Company has received an Order against an appeal pending before the
Service Tax Department, Mumbai raised a demand for Rs. 283 thousands as
Service Tax liability and same amounts towards penalty and interest and
disallowed all the documents and facts submitted by the Company. The
company is opted to take necessary steps in the matter to vacate the
demand and as such no liability provided for in the accounts.
Liability in respect of income tax matter for which the company has
succeeded in ITAT. There is no information whether any action thereof
initialised against by the department.
2 There is no amount outstanding as of small scale and ancillary
The Company has not received any intimation from suppliers regarding
status under MSME Act''2006 and hence disclosure regarding, if any
amount unpaid as at the year end together with interest paid/payable as
required under the said Act has not been furnished.
3 Sundry Debtors
Sundry Debtors include Rs. 7076 thousands from M/s. Bela Properties (P)
Ltd.,Rs. 804 thousands from Vasundhara Business (P) Ltd. confirmed by
the concerned parties and good in nature.
4 The inventories includes shares traded for unquoted as well as
quoted companies and the unquoted shares are valued at cost and quoted
shares are valued at cost or market value, which ever is Lower.
5 Others Short Term Loans & Advances
Unsecured advances considered good, recoverable in cash or in kind or
of value to be received includes (a) Rs. 1,217 thousand due from and
erstwhile director of the company, Rs. 500 thousands from M/s.
Gurunanak Construction Company, Rs. 1049 thousands fro M/s KIC
Resources Ltd., Rs. 30,000 thousands from B.R. Machines Tools Private
Limited were confirmed and good in nature, and a sum of Rs. 131
thousands from M/s. Kshitiz Agro Products (P) Ltd is due towards
6 Employees Retirement Benefits
Liability for Gratuity has not been provided in the accounts
considering the materiality, VRS, if paid is charged to revenue in the
year of payment.
7 The company is a member of OTC Exchange but no trading operation was
carried out through the OTCEI. As there is no trading terminal with the
company, the share trading operations were carried out with other
8 Sale and purchase comprise of sale and purchase price of the shares
have been accounted for on accrual basis. Income from sale of un-quoted
equity shares are recognised on the basis of sale bills. Other income
includes income from dealing in property business. The Company has
entered into an agreement with private limited companies to accomplish
dealing into property business to earn income during the year under
9 Segment Reporting
The primary segment of the Company mainly consists of investments &
trading in quoted and unquoted equities, broking or sub-broking. The
company has not done any broking or sub- broking activity during the
year under report. The Company operates only in India which is the only
reportable geographical segment. There being no secondary reportable
segments, no segmental information has been provided.
10 The Company has not obtained any deposits from public. Hence,
provision for registration as NBFC as per Non Banking Financial
Companies (RBI) Directions 1997, is not applicable.