31 Segment Reporting: During the year the company was engaged only in Investment and Financing activities and its activities were confined to India. Hence there are no reportable segments of the company.
32 Balances under the head Trade Receivables, Loans & Advances and other liabilities are subject to confirmation from the respective parties.
33 Impairment of Assets: The company has carried out an impairment test as per ‘Accounting Standard - 28', issued by I.C.A.I on all the assets and no provision was required to be made towards impairment of assets for the year ending 31st March, 2024.
34 The company has provided for its gratuity liability on accrual basis on the basis of completed years of service as provided under the payment of Gratuity Act. However, the provisions of payment of Gratuity Act, do not apply to the company, since the company does not employ the requisite number of employees as required under the Payment of Gratuity Act.
35 Previous year figures have been regrouped/ recasted/ reclassified/ rearranged wherever deemed necessary to confirm with current year's classification.
36 Current Assets, Loans & Advances are approximately of the value as stated, if realized in the ordinary course of business. The provision for all known liabilities is adequate and is not in excess of the amount considered reasonably necessary.
2023-24 2022-23
37 Expenditure in Foreign Currency Nil Nil
38 Earnings in Foreign Exchange Nil Nil
- FOB Value of Exports - -
39 a) The company had no transactions with companies struck off under section 248 of the Companies Act, 2013 or section 560 of Companies Act, 1956.
b) There are no transactions which are not recorded in the books of accounts that have been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961.
c) The Provisions of Corporate Social Responsibility under Section 135 of the Companies Act, 2013 are not applicable to the Company for the year.
d) The Provisions of Corporate Social Responsibility under Section 135 of the Companies Act, 2013 are not applicable to the Company for the year.
e) The Company does not holds any Benami property and there are no proceedings against the company under the benami transaction (prohibition) Act 1988 (as amended from time to time).
f) Creation or satisfaction of charges are not pending for registration with Registrar of companies beyond the statutory period.
g) The Company has not been declared as a wilful defaulter (as per RBI circular) by any bank or financial institution or any other lender at any time during the financial year or after the end of the reporting period.
40 As per the RBI guidelines, Liquidity Coverage Ratio is applicable to those NBFCs whose asset size is Rs. 100 crore and above. Since, the company's asset size is less than Rs. 100 crores, Liquidity Coverage Ratio is not applicable to the Company.
1. As defined in paragraph 2(1 )(xii) of the Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1988.
2. Provisioning norms shall be applicable as prescribed in Non-Banking Financial (Non-Deposit accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007
3. All Accounting Standards and Guidance Notes issued by ICAI are applicable including for valuation of investments and other assets as also assets acquired in satisfaction of debt. However, market value in respect of quoted investments and break up/fair value / NAV in respect of unquoted investments should be disclosed irrespective of whether they are classified as long term or current in (4) above.
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