These are consistent with the generally accepted accounting practices.
Previous year's figure have been regrouped and reclassified, wherever
considered necessary to confirm to the current year's classification
and presentation.
1. Contingent Liabilities
Contingent Liability of Rs. 60 Lacs (Previous Year Rs. 80 lacs) on
account of partly paid investments in Mutual Fund units of India
Business Excellence Fund-11.
2. Tax amounting to Rs. 2,06,022/- (Previous Year Rs. 13,68,233/-)
has been deducted at source on income from interest.
3. The company has changed the method of depreciation from W.D.V.
basis to S.L.M. basis, accordingly, a sum of Rs. 55,190/- is less
charged to depreciation.
4. The activity of the Company is that of investment only hence,
AS-17 is not required to be mentioned.
5. Prior period item includes amounts received from JM Financial
Property Fund of Rs. 4,45,396/- comprising of interest of Rs.45130,
Dividend of Rs.27310, Long Term Capital Gain of Rs.372773 and Short
Term Capital Gain of Rs. 183.
6. No interest income is provided in current year on loan of Rs
60,00,000 given to RG Industries Private Limited as the recovery is
subject to confirmation. Provision of interest income made till March
31, 2014 amounts to Rs 27,00,000/-.
SUBSIDIARIES:
1. Suptashwar Investments and Trading Co. Ltd.
2. Murahar Investments and Trading Co. Ltd.
KEY MANAGEMENT PERSONNEL:
Mr. Varun A. Vakil
DIRECTORS:
Shri. Amar A. Vakil, Shri. Bharat B. Talati, Shri. Mahesh C. Dalai,
Shri Varun A. Vakil, Miss Nehaf A. Vakil, Ketan C. Kapadia.
RELATIVES OF KEY MANAGEMENT PERSONNEL:
Shri. Abhay Vakil
COMPANIES CONTROLLED BY DIRECTORS / RELATIVES:
Asian Paints Ltd, Resins & Plastic Ltd., Pragati Chemicals Ltd,
Lambodar Investments & Trdg. Co. Ltd., Sapan Invt. Pvt. Ltd., Murahar
Invt. & Trdg. Co. Ltd., Suptashwar Invt. & Trdg. Co. Ltd., Asteroids
Trading & Invt. Pvt. Ltd., Nehal Trading & Invt. Pvt. Ltd., Vikatmev
Containers Ltd., Jalaj Trading & Invt. Co. Pvt. Ltd., Sadavani Invt. &
Trdg. Co. Pvt. Ltd.
Related Party relationship is as identified by the Company and relied
upon by the Auditors.
7. Disclosure under Part II of Schedule III of the Companies Act,
2013 have been mad.e to the extent applicable to the company.
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