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PARTICULARS AS AT AS AT
31/03/2015 31/03/2014
RS RS. Rs. Rs.
CONTINGENT LIABILITIES AND COMMITMENTS 0 0
1. Others Points:
(a) The company has surrendered its NBFC license during April 2014 and
hence it has discontinued its operations as a Non Banking Finahce Loan
Company during the year under review. Balance amount in statutory
reserve transferred to general reserve and balance amount in contingent
Provision against Standard asset also transferred to surplus in profit
and Loss account.
(b) The company has a proposal to demerge. The necessary procedures are
being carried out subject to the approval of the regulatory
authorities.
2. Expenditure in Foreign Currency: NIL
3. Contingent Liability not provided for: NIL
4. Taxes on Income:
Provision for current tax is made for the amount of tax payable in
respect of taxable income for the year under the Income Tax Act, 1961.
The Net cumulative effect of the timing differences, as contemplated
under the standard, results in a deferred tax asset. The company as a
matter of conservative accounting policy, has not reflected this in the
financial statements.
Previous year's figures have been regrouped and reclassified wherever
necessary to conform to the current year's presentation.
This is the Notes referred to in our report of even date addressed to
the members of the Company.
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