In the event of the 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 of shares held by the shareholders.
1. CONTINGENT LIABILITIES AND COMMITMENTS: NIL
2. ADDITIONAL INFORMATION DISCLOSED AS PER PART II OF THE COMPANIES ACT, 2013: NIL
3. SEGMENT REPORTING:
The company is primarily engaged in the single business of Financing and Investment and there is no reportable secondary segment i.e. geographical segment. Hence, the disclosure requirement of Accounting Standard-17 "Segment Reporting" as notified by Companies (Accounting Standards) Rules, 2006 (as amended) is not applicable.
4. AMOUNT DUE FROM DIRECTORS/PARTIES/COMPANIES IN WHICH DIRECTOR IS INTERESTED, IN TERMS OF SECTION 185 OF THE COMPANIES ACT, 2013:
Loans and Advances include loan amount of Rs.8,50,751/- due from M/s. India Roller Flour Mills, in which one of the directors of the company is interested as a Partner in HUF capacity. 100% provision towards the loan has been made as per Prudential Norms prescribed for NBFC's by RBI. However, the company is confident of recovery of the amount due to the company.
5. CONFIRMATION OF BALANCES/RECONCILIATION OF ACCOUNTS PERTAINING TO CERTAIN ADVANCES/CREDITORS/DEBTORS IS PENDING AS AT PERIOD END. HENCE, THE BALANCES HAVE BEEN ADOPTED AS PER THE BOOKS OF ACCOUNTS.
6. PREVIOUS YEARS FIGURES HAVE BEEN REGROUPED WHEREVER NECESSARY TO CONFORM TO CURRENT PERIODS CLASSIFICATION.
7. LOANS GRANTED UNDER HIRE-PURCHASE SCHEMES HAVE BECOME NONPERFORMING ASSETS, THE COMPANY HAS NOT RECOGNISED ANY INCOME ON SUCH LOANS IN TERMS OF PRUDENTIAL NORMS PRESCRIBED FOR NBFCS BY THE RBI.
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