i. Previous period''s figures have been regrouped/rearranged wherever
necessary. Headings, sub-headings and information as per Schedule VI
and Accounting Standards which are not applicable to the company are
not stated in Balance Sheet and Profit and Loss Statement. Figures in
brackets are for previous year unless otherwise specified.
ii. Tax deducted at source (in Rs) on interest income - Rs. 138,000
(Rs. 127,577/-) and on dividend Nil.
iii. Basic and Diluted earning per share has been calculated by
dividing the net profit after tax i.e. Rs.8.86 Lacs for the year by the
weighted average number of equity shares outstanding during the year
i.e. 30 Lacs shares.
iv. Related Party Disclosures: Associates-Goyal Housing And Finance
Ltd., Filmcity Finance Pvt Ltd., Sunshield Finvest Pvt. Ltd., Sita
Capital Pvt Ltd. Details of Transactions with associates - (Rs. in
Lacs) Balance as on 31.3.12 - Advances paid for allotment of securities
-148.95 including 95.75 to private companies in which any director is a
director or member.
v. The provision for deferred tax assets/liabilities as on 31-3-12 is
Nil. As a measure of prudence deferred tax assets for MAT credit for
future tax liabilities has not been taken into account. Provision for
bad and doubtful debts and for depreciation in investments - Nil. Gross
non-performing assets - Nil. Net non-performing assets - Nil, Assets
acquired in satisfaction of debts - Nil. Amount due to Micro, Small &
Medium Enterprises as per MSMED Act, 2006 as on 31-03-2012 - Nil. The
Company has not accepted any deposits from the public. As per
guidelines issued by Reserve Bank of India an amount of Rs. 2.5 lacs
has been shown separately as Contingent Provision against Standard
Assets in the balance sheet. This contingent and uncertain amount has
been earmarked in the heading of reserves and surplus.
vi. The Company is in the business of investment and finance and its
all activities revolve around this business. As such, there are no
separate reportable Segments. As provided in Accounting Standard 3 the
Dividend income has been included in Operating Activities in Cash Flow
Statement. In the Profit and Loss Statement Dividend Income has been
shown under Other Income as per requirement of Revised Schedule VI.
vii. The Company has only one class of shares referred to as equity
shares having a par value of Rs.10 entitling the holder to one vote per
share. There was no change in the number of shares outstanding at the
beginning and at the end of the reporting period. Share holders holding
more than 5% shares in the company and number of shares held: Bombay
Mercantile & Leasing Co Ltd-1025398, Abhinandan Textiles & Traders Pvt.
Ltd.-375000 and Ashok Tulsyan (HUF) 600000.
viii. Market value of all quoted investments-Rs.8,065,525 (Rs.
20,215,076). Provision for diminution in value of investments - Nil.
Investments in Properties under construction or development are partly
paid to the extent of amount due and payable as per the terms of
purchase and are shown as other non current investments as per
requirement of Revised Schedule VI. Such amounts were shown as advances
in earlier periods.
ix. Miscellaneous expenses grouped under other expenses include
Rs.5,000 (Rs.5,000) for audit fees, Rs. 3,000 (Rs.3,000) for internal
audit and Rs.20,755 (Rs.79,971) for Securities Transaction Tax.
x. Contingent liabilities and commitments (to the extent not provided
for) - Uncalled liability on commitments for Investments in Properties
under construction or development Rs. 320 lacs and for Investment in
Mutual Fund Rs. 60 Lacs.