| Rights, Preferences and restrictions attached to shares
The Company has only one class of shares referred to as equity shares
having face value of Re. 1. Each holder of one equity share is entitled
to one vote per share.
In the event of liquidation of the Company, the holders of shares shall
be entitled to receive remaining assets, if any, of the Company after
distribution of all preferential amounts. The amount distributed will
be in proportion to the number of equity shares held by the
shareholders.
*Sub-Division of Equity Shares:
Pursuant to the recommendation of the Board of Directors of the company
in its meeting held on 03 February, 2015 and followed by the approval
of the members in the Extra Ordinary General Meeting held on 10th
March, 2015, each equity share of Rs 10/- fully paid up was divided
into 10 Equity Shares of Re. 1/- each fully paid up w.e.f the Record
date fixed for the purpose of Sub-Division i.e 26th March, 2015. In
accordance with the Accounting Standard 20 pertaining to Earnings Per
Share, the Company has given effect to the above mentioned sub-division
of shares in computing the Earning Per Share for the applicable
previous year.
1.(c): Rights, preferences and restrictions attached to share capital
The Company has one class of equity shares having a par value of Re. 1
per share. Each holder of equity share is entitled to one vote per
share. The paid-up equity shares of the Company shall rank pari-passu
in all respects including dividend. In the event of liquidation of the
Company, the holders of equity shares will be entitled to receive
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. The Company has neither issued any
bonus issue of shares nor any buy back of shares since incorporation
and in the current year.
* The Ministry of Micro, Small and Medium Enterprises has issued an
Office Memorandum dated 26 August 2008 which recommends that Micro and
Small Enterprises should mention in their correspondence with its
customers the Entrepreneurs Memorandum Number as allocated after filing
of the Memorandum. Based on information received and available with the
Company, there are no amounts payable to Micro and Small Enterprises as
at 31 March, 2015 and 31 March 2014.
Note 1: Rent represents rental expense incurred in respect of office
space leased by the Company under operating lease arrangements. These
leases are cancellable arrangements that extend for a maximum period of
3 years from their respective dates of inception.
Note 2: The Company has created Provision on Standard Assets @ 0.25% on
Total Standard Assets of Rs. 12,78,43,709/ - making it Rs. 3,02,609/-
approx. Provision made during the Year is Rs. 1,30,656/- (i.e. Rs.
3,02,609 - 1,71,953)
Related Party Transactions as per Accounting Standard 18 for the
Financial year 2014-15:- Disclosure details pertaining to related party
transactions (as certified by the management of the Company) entered
into during the year ending 31st March, 2015 in terms of Accounting
Standards AS-18 "Related Party Disclosures" as issued by ICAI:-
1. Key management personnel
Mr. Rajeev Kumar Gupta - Managing Director (Appointed w.e.f.
17-07-2014) Mrs. Sarita Gupta - Director and CFO (Appointed w.e.f.
17-07-2014) Ms. Renu - Director (Appointed w.e.f. 30-09-2014)
Ashwani Kumar Salwan - Director (Resigned on 17-07-2014) Virender Gupta
- Director (Resigned on 17-07-2014) Braj Mohan Singh - Director
(Resigned on 17-07-2014)
2. Parties in which the Key Managerial Personnel/Director(s) of the
Company is/are interested:
NIL
Note: Figures shown in brackets indicates previous year amount.
b) The company's primary business segment is reflected based on
principal business activities carried on by the company. The company's
primary business comprises of financing of loans and dealing in
securities.
c) Segment revenue, results, assets and liabilities include amounts
identifiable to each segment and amounts allocated on a reasonable
basis.
4. Key management personnel
Mr. Rajeev Kumar Gupta - Managing Director (Appointed w.e.f.
17-07-2014) Mrs. Sarita Gupta - Director and CFO (Appointed w.e.f.
17-07-2014) Ms. Renu - Director (Appointed w.e.f. 30-09-2014)
Ashwani Kumar Salwan - Director (Resigned on 17-07-2014) Virender Gupta
- Director (Resigned on 17-07-2014) Braj Mohan Singh - Director
(Resigned on 17-07-2014) after transfer to Reserve Fund u/s 45(IC) of
RBI Act, 1934
Notes:
1 The above Cash Flow Statement has been prepared under the indirect
method set out in AS-3 on 'Cash Flow Statement' as notified under
Companies (Accounting Standard) Rules, 2006.
2 Include both long-term and short-term assets/ liabilities.
3 Fixed deposits have been included in the operating activities, since
it is directly attributable to the primary revenue generating
operations of the Company
4 Previous year figures have been regrouped/ reclassified wherever
necessary to conform to the current year classification.
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