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Moneycontrol.com India | Notes to Account > Finance - General > Notes to Account from Amit Securities - BSE: 531557, NSE: N.A
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Amit Securities

BSE: 531557|ISIN: INE137E01014|SECTOR: Finance - General
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Amit Securities is not listed on NSE
Mar 14
Notes to Accounts Year End : Mar '15
 1. Basis of Preparation
 
 These financial statements are prepared in accordance with Indian
 Generally Accepted Accounting Principles (GAAP) under the historical
 cost convention on the accrual basis except for certain financial
 instruments which are measured at fair values. GAAP comprises mandatory
 accounting standards as prescribed by the Companies (Accounting
 Standards) Rules, 2006, the provisions of the Companies Act, 2013 and
 guidelines issued by the Securities and Exchange Board of India (SEBI).
 Accounting policies have been consistently applied except where a newly
 issued accounting standard is initially adopted or a revision to an
 existing accounting standard requires a change in the accounting policy
 hitherto in use.
 
 2. Terms / Rights Attached to Shares
 
 Equity Shares
 
 The Company has only one class of Equity shares having a par value of
 10/-. Each holder of equity shares is entitled to one vote per share.
 
 The Company declares and pays dividends in Indian rupees if any.
 
 During the Year Ended 31st March 2015 the amount per share dividend
 recognized as distributions to equity shareholders was Rs. NIL( For
 31sr March 2014 was Rs NIL)
 
 In the event of liquidation of the Company, the holders of equity
 shares will be entitled to receive any of the remaining assets of the
 company, after distribution of all preferential amounts. The
 distribution will be in proportion to the number of equity shares held
 by the shareholders.
 
 3. RELATED PARTY DISCLOSURE
 
 a Names of Related Parties and Related Party Relationship
 
 Name of Related Party Relation
 
 Hemant Sharma             Key Managerial Person
 
 Aditi Mittal              Director (w.e.f 11.02.2015)
 
 Arpit Mittal              Realtive of Director (w.e.f 11.02.2015)
 
 Mardulla Mittal           Realtive of Director (w.e.f 11.02.2015)
 
 Saket Securities &        Company where Director having significant
 Investment Pvt.Ltd.       influence (w.e.f 11.02.2015)
 
 Vishal Realmart Pvt.      Company where Director having significant
 Ltd.                      influence (w.e.f 11.02.2015)
 
 4. LEASES
 
 The Company has not accquired any assets either on Finance, lease or
 under operating lease on which AS-19 - Lease issued by the Institute
 of Chartered Accountatns of India are applicable.
 
 5. EMPLOYEE BENEFIT
 
 No Provision for Graturity and Leave Encashment as required by AS-15
 has been made as the required eligible number of employee with the
 company are below then required by the relevant acts, hence no
 disclosure was required to be made.
 
 6. CONTINGENT LIABILITY / COMMITMENTS
 
 Particualrs
 
 Contingent Laibilites                                 0        0
 
 Commitments
 
 Estimated Amount of Capital Contracts                 0        0
 Pending to be executed
 
 Estimated Amount of Revenue Contracts                 0        0
 Pending to be executed
 
 7. In the opinion of the Board, the Current Assets, Loans & Advances
 are approximately of the value which are stated in the Balance Sheet if
 realized in the ordinary course of business.
 
 8. PREVIOUS YEAR FIGURES
 
 Previous Year Figures have been reclassified / regrouped whereever
 found necesarry
Source : Dion Global Solutions Limited
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