| 1. CONTINGENT LIABILITY & CAPITAL COMMITMENT:
2014-2015 2013-2014
Amount in Amount in
Rs. Rs.
Contingent Liabilities not provided for* 7,74,50,120 6,58,17,580
Capital Commitment not provided for NIL NIL
Others NIL NIL
*The demand was raised by the jurisdictional assessing officer of the
Income Tax Authorities u/s 143(3) of the Income Tax Act, 1961 for the
Assessment Year 2011-12. The management feels that demand raised is
likely to be either deleted or substantially reduced. Also, the company
has filed an appeal and deposited tax of Rs. 1,50,00,00 in response to
the demand raised by the assessing officer and accordingly no provision
is considered.
2. EARNING PER SHARE:
Earnings per Share, as required by the Accounting Standard 20- "Earning
Per Share" issued by the Institute of Chartered Accountants of India,
is given below:
Particulars 2014-15 2013-14
Amount in Rs. Amount in Rs.
Net profit for the period
attributable to Equity
Shareholders (Rs.) (1,91,04,588) 3,27,730
Weighted Average No of Equity 11.37.60.000 11,37,60,000
shares outstanding for
Basic Earnings per share
Weighted Average No. of Equity 11.37.60.000 11,37,60,000
shares outstanding for
Diluted earnings per share
Basic Earning Per Shares (0.168) 0.003
(face value of Rs. 1/-each ) (Rs)
Diluted earnings per share
(face valued of Rs.1/-each) (Rs) (0.168) 0.003
3. RELATED PARTY TRANSACTION:
List of Related Parties:-
a) Key Management personnel :-
i) Giriraj Kishor Agrawal
b) Relatives of Key Management Personnel
i) Girraj Kishor Agarwal HUF
ii) Tanu Agarwal
iii) Saloni Agarwal
c) Related parties over which Key Management personnel have significant
influence :-
i) Agrawal Bullion Limited (Formerly known as Kayaguru Health Solutions
Limited)
ii) Axon Finance Limited (Formerly known as Axon Infotech Limited)
iii) Five X finance & Investment Ltd
iv) Handful Investrade Pvt Ltd
v) Kayaguru Capital Market Private Limited
vi) Rockon Capital Market Private Limited
vii) Rockon Fintech Limited
viii) Shree Nath Commercial & Finance Ltd
ix) Tilak Finance Limited (Formerly known as Out of City Travel
Solutions Limited)
4. MAJOR COMPONENTS OF DEFERRED TAX LIABILITIES:
PARTICULARSI 2014-2015 2013-2014
Amount in Rs. Amount in Rs.
Deferred Tax Asset on Account
of Carry Forward Losses NIL 4,03,365
Deferred Tax Asset /
(Liability) on Account
of Depreciation 1,22,315 (2,48,462)
Deferred Tax Assets 1,22,315 1,54,903
5. INCOME IN FOREIGN CURRENCY:
PAR.TICULARS 2014-2015 2013-2014
Amount in Rs. Amount in Rs.
Income in foreign currency NIL NIL
6. EXPENDITURE IN FOREIGN CURRENCY:
PARTICULARS 2014-2015 2013-2014
Amount in Rs. Amount in Rs.
Expenditure in Foreign Currency NIL NIL
7. PRUDENTIAL NORMS OF NBFC:
i. Majority of the loans given are demand loans, therefore in some
cases the terms of repayment including interest and loan agreement
including KYC documents etc are not available. Demand and other loans
given are governed by the Board policies. Considering the close
monitoring of Board no appraisal, renewal, Policies, Procedure,
Committee or documents have been prescribed and executed.
ii. In view of the management all the loans outstanding are considered
good and therefore provision on Non- Performing Assets not provided.
iii. Pre and post sanction generally accepted procedures are not in
place.
iv. Provision on standard assets @ 0.25% is yet to be provided.
8. As per information available with the Company, none of the
creditors has confirmed that they are registered under the Micro, Small
and Medium enterprises Development Act, 2006.
9. As the intention is to hold the unquoted securities for sale in
short term and in absence of flow of periodic data, absence of
liquidity and market related data closing stock of unquoted shares are
valued at cost.
10. The Full time Company Secretary of the Company has resigned on 7th
February, 2015. However, no one has been appointed till the date of
signing the Balance sheet.
11. The company does not have Internal Auditors for conduct of
Internal Audit.
12. Trade Receivable, Trade Payable, Borrowings and Loans and Advances
balances are subject to confirmation and reconciliation.
13. Segment Information: The Company is engaged in single segment and
there are no separate reportable segments as defined in AS-17.
14. Previous year's figures have been regrouped, rearranged and
reclassified wherever necessary to conform to the current's
classification/ presentation.
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