Notes to Account
2.25 RETIREMENT BENEFITS A) GRATUITY
The employees' Group Gratuity Scheme is managed by Life Insurance Corporation of India. The present value of obligation is determined based on actuarial valuation using the Projected Unit credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.
|
Particulars
|
Percentage
|
Current Year Amount
|
Percentage
|
Previous Year Amount
|
|
Actuarial assumptions
|
|
|
|
|
|
Discount Rate Per Annum
|
8%
|
|
8%
|
|
|
Salary Escalation
|
7%
|
|
6%
|
|
|
Reconciliation of opening and closing
|
|
|
|
|
|
balances of obligation
|
|
|
|
|
|
Obligation at beginning of the year
|
|
559,065
|
|
552,092
|
|
Current Service Cost
|
|
39,831
|
|
28,771
|
|
Interest Cost
|
|
6,685
|
|
43,610
|
|
Actuarial (gain) /loss
|
|
2,518
|
|
(65,408)
|
|
Less: Benefits paid
|
|
(568,269)
|
|
-
|
|
Obligation at the end of the year
|
|
39,830
|
|
559,065
|
|
Reconciliation of opening and closing
|
|
|
|
|
|
balances of fair value assets
|
|
|
|
|
|
Fair value of plan assets at beginning of the year
|
|
805,574
|
|
711,964
|
|
Employer contribution
|
|
|
|
50,000
|
|
Less: Benefits Paid
|
|
(568,269)
|
|
-
|
|
Add: Expected return on plan assets
|
|
46,440
|
|
43,610
|
|
Fair value of plan assets at the end of the year
|
|
283,745
|
|
805,574
|
|
Amount Recognized in Balance Sheet
|
|
|
|
|
|
Present value of obligation
|
|
39,830
|
|
559,065
|
|
Fair value of plan assets
|
|
283,745
|
|
805,574
|
|
Amount recognized in Balance Sheet
|
|
(243,915)
|
|
(246,509)
|
|
Gratuity cost for the period
|
|
|
|
|
|
Current Service Cost
|
|
39,831
|
|
28,771
|
|
Interest Cost
|
|
6,685
|
|
43,610
|
|
Expected return on plan assets
|
|
(46,440)
|
|
(43,610)
|
|
Actuarial (gain) /loss
|
|
2,518
|
|
(65,408)
|
|
Net Gratuity cost
|
|
2,594
|
|
(36,637)
|
B) Leave accumulated during the year lapse on the balance sheet date and thus no provision for leave encashment is made.
C) Contribution to provident fund is made monthly at predetermined rates to the appropriate authorities.
Note:
1. The company has recognised the gratuity income (actuarial gain) of Rs. 2,43,915/- & gratuity expenses of Rs. 2,594/-in FY 2017-18.
2. The company has recognised the excess of fair value of plan assets over present value of obligation of Rs.2,43,915/- as an assets in FY 17-18 and Gratuity Payable of Rs. 2,5947- as an liability in FY 2017-18.
|
2.26 DEFERRED TAX BALANCES
|
|
|
|
Particulars
|
For the year ended 31.03.2018
|
For the year ended 31.03.2017
|
|
a. Deferred Tax Liabilities (Net)
|
|
|
|
(i) Depreciation
|
446,214
|
848,816
|
|
(ii) Others
|
|
-
|
| |
446,214
|
848,816
|
|
b. Deferred Tax Assets (Net)
|
|
|
|
(i) Depreciation
|
-
|
-
|
|
(ii) Others (Capital loss)
|
1,964,711
|
2,326,318
|
| |
1,518,497
|
1,477,502
|
2.27 SEGMENT REPORTING
The company operates in one geographical segment, i.e. India and has identified two business segments i.e. Segment-I which is Consultancy Commission & Brokerage and Segment-II Investments in Bonds, Fixed Deposits & Loans & Advances. Segment Profit & Loss is measured on the basis of Operating Profit or Loss of each respective segment. Segment Assets and Liabilities have been apportioned similarly
|
(Amount in Rs.)
|
| |
Service, Commission
|
Investment in Bonds/
|
Unallocated
|
Total
|
| |
& Brokerage
|
FDR/Loans & Advances
|
|
|
|
Segment Revenue (A)
|
|
|
|
|
|
- Current Year
|
31,087,500
|
4,022,422
|
94,497,353
|
129,607,274
|
|
- Previous Year
|
(3,486,747)
|
(4,577,445)
|
(47,936,791)
|
(56,000,982)
|
|
Segment expense (B)
|
|
|
|
|
|
- Current Year
|
5,190,089
|
5,070,314
|
1,061,455
|
11,321,858
|
|
- Previous Year
|
(2,551,640)
|
(2,484,974)
|
(1,457,295)
|
(6,493,909)
|
|
Depreciation
|
|
|
|
|
|
- Current Year
|
781,710
|
781,710
|
529,302
|
2,092,723
|
|
- Previous Year
|
(81,760)
|
(81,760)
|
(178,130)
|
(341,650)
|
|
Segment Result (A) - (B) - Current Year
|
25,115,701
|
(1,829,602)
|
92,906,596
|
116,192,693
|
|
- Previous Year
|
(853,347)
|
(2,010,711)
|
(46,301,366)
|
(49,165,424)
|
|
Segment Assets (A)
|
|
|
|
|
|
- Current Year
|
36,442,098
|
67,911,092
|
371,264,731
|
475,617,921
|
|
- Previous Year
|
(48,616,306)
|
(80,754,613)
|
(329,652,145)
|
(459,023,063)
|
|
Segment Liabilities (B)
|
|
|
|
|
|
- Current Year
|
8,965,351
|
7,256,602
|
4,779,856
|
21,001,809
|
|
- Previous Year
|
(12,453,510)
|
(7,845,447)
|
(2,112,333)
|
(22,411,291)
|
|
Total (A) - (B)
|
|
|
|
|
|
- Current Year
|
27,476,746
|
60,654,490
|
366,484,874
|
454,616,111
|
|
- Previous Year
|
(36,162,796)
|
(72,909,166)
|
(327,539,812)
|
(436,611,772)
|
|
Capital Expenditure
|
|
|
|
|
|
- Current Year
|
17,313,317
|
17,313,317
|
|
34,626,634
|
|
- Previous Year
|
(14,797,603)
|
(14,797,603)
|
|
(29,595,206)
|
|
2.28 EARNING PER SHARE
|
|
|
|
2.28.1 The Earning Per Share (EPS) is calculated as follows:
|
|
|
|
Particulars
|
For the year ended 31.03.2018
|
For the year ended 31.03.2017
|
|
(i) Profit attributable to Equity Share Holders
|
99,640,581
|
44,996,863
|
|
(ii) # Weighted average number of equity shares for computations of Basic and Diluted Earning per share
|
7,052,182
|
7,186,689
|
|
(iii) Nominal Value of Equity Share
|
10
|
10
|
|
(iv) EPS- Basic and Diluted
|
14.13
|
6.26
|
2.28.2 The basic & diluted EPS as on 31.03.2018 has been computed on reduced weighted average share capita] after buy back.
|
2.29 Payment to Auditor
|
|
|
| |
|
(Amount in Rs.)
|
|
Particulars
|
For the year ended 31.03.2018
|
For the year ended 31.03.2017
|
|
A) Auditor
|
|
|
|
(i) Statutory Audit Fees
|
21,000
|
21,000
|
|
(ii) Tax Audit Fees
|
9,000
|
9,000
|
| |
30,000
|
30,000
|
2.30 Capital & Other Commitments
Estimated amount of contracts remaining to be executed on Capital account and not provided for (net of advances) Rs. 7.38 Lakhs as on 31st March 2018 (Previous Year - Rs. 84.88 lakhs).
2.31 Foreign Exchange Earning and Expenditure
The company has not made any foreign exchange transaction during the year.
2.32 Corporate Social Responsibility
The Company shall utilize the available funds on long term projects such as education, old age home , orphanage etc (as specified under schedule VII of the Companies Act, 2013 for CSR Activities ). The Company is under process of finding suitable options and finalization of the implementation plan for the same.
In view of the above, the company is preserving the funds so that as and when adequate and appropriate option is available to the company , it will utilize them for CSR activities. Hence the Company has decided not to spend the amount on CSR during the year under review.
|
|
|
FOR AND ON BEHALF OF THE BOARD |
|
|
|
"AS PER OUR REPORT ATTACHED OF EVEN DATE"
|
| |
|
For M/s WALECHA INDER & ASSOCIATES
|
| |
|
Chartered Accountants
|
| |
|
Firm's Registration Number : 014205N
|
|
(RAKESH K. JAIN)
|
(GAURI SHANKER PANDEY)
|
|
|
Director
|
Whole Time Director
|
|
|
DIN : 00050524
|
DIN : 00050614
|
(Walecha Inder Jeet)
|
| |
|
Partner
|
| |
|
M.No: 093694
|
|
(CS RICHA ARORA)
|
(CA MAYANK AGARWAL)
|
|
|
Company Secretary
|
Chief Financial Officer
|
Place : Noida
|
|
M.No. :-42906
|
M.No.-544992
|
Date : 28/05/2018
|
2.33. [Schedule to the Balance sheet of a Non Banking Financial company as required in terms of paragraph 13 of Non Banking Financial (Non Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007]
LIABILITIES SIDE
|
1
|
Loans and advances availed by the NBFC inclusive of interest accrued thereon but not paid:
|
Amount Outstanding
|
Amount Overdue
|
| |
a.
|
Debentures (other than falling within the meaning of public deposits)
|
|
|
| |
|
- Secured
|
-
|
-
|
| |
|
- Unsecured
|
-
|
-
|
| |
b.
|
Deferred Credits (Note No.l)
|
11,151,256
|
-
|
| |
c.
|
Term Loans
|
-
|
-
|
| |
d.
|
Inter-corporate loans and borrowings
|
-
|
-
|
| |
e.
|
Commercial Paper
|
-
|
-
|
| |
f.
|
Public Deposits (Refer note 2 below)
|
-
|
-
|
| |
g-
|
Other Loans - Cash credit
|
-
|
-
|
|
2
|
Break up of l(f) above (Outstanding public deposits inclusive of interest accrued thereon but not paid);
|
Amount Outstanding
|
Amount Overdue
|
| |
a.
|
In the form of unsecured debentures
|
-
|
-
|
| |
b.
|
In the form of partly secured debentures i.e debentures where there is a shortfall in the value of security
|
-
|
-
|
| |
c.
|
Other public deposits
|
-
|
-
|
ASSET SIDE
|
3
|
Break up of Loans and Advances including bills receivables [other than those included in (4) below]:
|
Amount Outstanding
|
| |
a
|
Secured
|
-
|
| |
b
|
Unsecured
|
13,056,824
|
|
4
|
Break up of Leased Assets and stocks on hire and other assets counting towards AFC activities
|
Amount Outstanding
|
| |
|
i. Lease Assets including lease rental under sundry debtors:
|
|
| |
|
a. Finance Lease
|
-
|
| |
|
b. Operating Lease
|
-
|
| |
ii.
|
Stocks on hire including hire charges under sundry debtors:
|
|
| |
|
a. Assets on hire
|
-
|
| |
|
b. Repossessed Assets
|
-
|
| |
iii.
|
Other Loans counting towards AFC activities:
|
|
| |
|
a. Loans where assets have been repossessed
|
-
|
| |
|
b. Loans other than (a) above
|
-
|
|
5
|
Break up of Investments: Current Investments
|
Amounts
|
| |
1
|
Quoted
|
|
| |
i.
|
Shares - Equity
|
_
|
| |
|
- Preference
|
_
|
| |
ii.
|
Debentures and Bonds
|
_
|
| |
iii.
|
Units of mutual funds
|
_
|
| |
iv.
|
Government Securities
|
_
|
| |
V.
|
Others
|
_
|
| |
2
|
Unquoted
|
|
| |
i.
|
Share - Equity
|
-
|
| |
|
- Preference
|
-
|
| |
ii.
|
Debentures and Bonds
|
-
|
| |
iii.
|
Units of mutual funds
|
-
|
| |
iv.
|
Government Securities
|
-
|
| |
V.
|
Others
|
-
|
| |
Long Term Investments
|
|
| |
1
|
Quoted
|
|
| |
i.
|
Shares - Equity
|
179,000,728
|
| |
|
- Preference
|
-
|
| |
ii.
|
Debentures and Bonds
|
12,654,050
|
| |
iii.
|
Units of mutual funds
|
99,654,369
|
| |
iv.
|
Government Securities
|
-
|
| |
V.
|
Others
|
-
|
| |
2
|
Unquoted
|
|
| |
i.
|
Share - Equity
|
210
|
| |
|
- Preference
|
-
|
| |
11.
|
Debentures and Bonds
|
-
|
| |
iii.
|
Units of mutual funds
|
-
|
| |
iv
|
Government Securities
|
-
|
| |
V.
|
Others
|
-
|
|
6
|
Borrower group wise classification of all leased assets, stock on hire and loans and advances (Refer note 3 below):
|
| |
Category
|
Amount net of provision
|
| |
|
|
Secured
|
Unsecured
|
Total
|
| |
1
|
Related Parties**
|
_
|
_
|
.
|
| |
a.
|
Subsidiaries
|
_
|
_
|
_
|
| |
b.
|
Companies in the same group
|
-
|
-
|
-
|
| |
c.
|
Other than related parties
|
-
|
13,056,824
|
13,056,824
|
| |
|
Total
|
-
|
13,056,824
|
13,056,824
|
|
7
|
Investor group wise classification of all investments (current and long term) in shares and securities (both quoted and unquoted): (Refer note 4 below)
|
| |
Category
|
Market Value / Break up of fair value or NAV
|
Book Value (Net of Provisions)
|
| |
1
|
Related Parties**
|
|
|
| |
a.
|
Subsidiaries
|
-
|
-
|
| |
b.
|
Companies in the same group
|
-
|
-
|
| |
c.
|
Other related parties
|
-
|
-
|
| |
2
|
Other than related parties
|
283,022,006
|
291,309,357
|
| |
|
Total
|
283,022,006
|
291309357
|
| |
** As per Accounting Standard issued by the Institute of Chartered Accountants of India ('ICAI').
|
|
8
|
Other Information
|
Amount
|
| |
i.
|
Gross Non-Performing Assets
|
|
| |
|
a. Related Parties
|
-
|
| |
|
b. Other than related parties
|
-
|
| |
ii.
|
Net Non-Performing Assets
|
|
| |
|
a. Related Parties
|
-
|
| |
|
b. Other than related parties
|
-
|
| |
iii.
|
Assets acquired in satisfaction of debt
|
-
|
Notes:
1 Amount is due to Greater Noida Authority for purhase of lease hold land of 90 Year.
2 As defined in paragraph 2(l)(xii) of the Non- Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998
3 Provisioning norms shall be applicable as prescribed in the Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 1998
4 All Accounting Standards and Guidance Notes issued by the Institute of Chartered Accountants of India ('ICAI') are applicable including for calculation of investments and other assets as also assets acquired in satisfaction of debts. However, market value in respect of quoted investments and break up / fair value / NAV in respect of unquoted investments should be disclosed irrespective of whether they are classified as long term of current in category 5 above.
|
|
|
FOR AND ON BEHALF OF THE BOARD
|
| |
|
"AS PER OUR REPORT ATTACHED OF EVEN DATE"
|
| |
|
For M/s Walecha Inder & Associates
|
| |
|
Chartered Accountants
|
| |
|
Firm's Registration Number- 014205N
|
|
(RAKESH K. JAIN)
|
(GAURI SHANKER PANDEY)
|
|
|
Director
|
Director
|
|
|
DIN : 00050524
|
DIN : 00050614
|
|
| |
|
(Walecha Inder Jeet)
|
| |
|
Partner
|
| |
|
M.No: 093694
|
|
(CS RICHA ARORA)
|
(CA MAYANK AGARWAL)
|
|
|
Company Secretary
|
Chief Financial Officer
|
Place : Noida
|
|
M.No. :-42906
|
M.No. : 544992
|
Date: 28/05/2018
|
|