b. Terms / rights attached to equity shares

The Company has only one class of equity shares having a par value of '10 per share. Each holder of equity share is entitled to one vote per share. The Company declares and pays dividend in Indian rupees.

In the event of the liquidation of the Company, the holder 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 shares held by the shareholders.

* Term loan from bank is secured against mortgage of the Company's immovable property together with all structures and appurtenances thereon held by the Company situated at 8th Floor, Mafatlal Centre, Nariman Point, Mumbai 400 021.The loan amount is repayable in 20 quarterly installments commencing from the end of third month from the date of disbursement.

** Term loan from NBFC was secured against mortgage of the Company's immovable property together with all structures and appurtenances thereon held by the Company situated at 8th Floor, Mafatlal Centre, Nariman Point, Mumbai 400 021.The loan amount was repayable in 12 quarterly installments commencing from the end of third month after the moratorium period of 24 months from the date of first disbursement, with a put and call option at the end of moratorium period and every 6 months thereon with 30 days notice. During the year, term loan has been fully repaid.

*** Vehicle loan from banks are repayable in 36 to 60 equated monthly installments along with interest from the date of loan. The loans are secured by hypothecation of motor vehicle purchased there against.

Note:

* Paid up per unit Rs. 49,430 (Previous year Rs.101,430)

During the year, cost of investment in Urban Infrastructure Venture Capital Limited has been reduced by Rs.3,640,000 (including Rs.2,870,000 pertaining to earlier years) towards reduction in paid up value of the funds on account of distribution received from Urban Infrastructure Opportunity fund by way of return of capital.

Consequent to the adoption of Accounting Standard 15 (AS 15 Revised 2005) on employee benefits, the following disclosures have been made as required by the standards :

1) Retirement benefits in the form of Provident fund are defined contribution scheme and the contributions are charged to the statement of profit and loss of the current year when the contribution to the respective fund is due. There are no other obligations other than the contribution payable to the respective fund.

2) Gratuity liability is a defined benefit obligation and is provided for on the basis of an actuarial valuation made at the end of each financial year.

NOTE - 1

SEGMENT REPORTING

The Company operates in a single business and geographical segment i.e. "Providing Merchant Banking Services" within India. Accordingly, no separate disclosures for primary business and secondary geographical segment are required.

Notes:

A) The related party relationships have been determined on the basis of the requirements of the Accounting Standard (AS) - 18 ‘Related Party Disclosures’ and the same have been relied upon by the auditors.

B) The relationships as mentioned above pertain to those related parties with whom transactions have taken place during the year, except where control exist, in which case the relationships have been mentioned irrespective of transactions with the relatives.

NOTE - 2 LEASES

i Where the company is lessee:

The Company has taken various office premises under operating lease that are renewable on a periodic basis at the option of both the lessor and lessee.

Notes:

The amount of minimum lease payments with respect to operating lease recognised in the statement of profit and loss for the year is Rs.29,620,965 (previous year Rs.41,046,664)

Above disclosure is for leases entered after 1 April 2001, as per Accounting Standard (AS) - 19 ‘Leases’as notified by Central Government of India.

NOTE - 3

Non Current Investments (Note 12) include ' 68,100,000 being amount invested in unquoted equity shares of a company (other than group company) in earlier years. The investee company is under going through severe financial difficulties and accordingly, petition for winding up is admitted by the Hon’ble High Court. However, having regard to the fact that the outcome of the said matter is still pending before High Court, management feels that diminution in the value of such long term unquoted investments in shares is of temporary in nature in accordance with Accounting Standard - 13 "Accounting for Investments" and there is no need to provide for any impairment loss of such investment at this point of time.

NOTE - 4

CORPORATE SOCIAL RESPONSIBILITY (CSR)

As per Section 135 of the Companies Act, 2013, a CSR committee has been formed by the Company. The areas for CSR activities are eradicating hunger, poverty and malnutrition, promoting preventive health care and sanitation and making available safe drinking water, promoting education, promoting gender equality, empowering women, setting up homes and ensuring environmental sustainability.

NOTE - 5

The Company has not received any intimation from its suppliers regarding their registration under the ‘Micro, Small and Medium Enterprises Development Act, 2006’. Hence, no disclosure has been made.

NOTE - 6

There was no impairment loss on the fixed assets on the basis of review carried out by the management in accordance with Accounting Standard (AS) - 28 ‘Impairment of Assets’.

NOTE - 7

Income from investments (net) includes interest income Rs.417,491,030 (previous year Rs.232,290,797).

NOTE - 8

In the opinion of management, current assets, loans and advances have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated in the balance sheet. The provision for depreciation and all known liabilities is adequate and not in excess of the amount reasonably stated.

NOTE - 9

Previous year figures have been regrouped or rearranged, wherever considered necessary, to conform with the current year's presentation.

NOTE - 10

Amounts for the year ended and as at March 31, 2017 were audited by previous auditors Suresh Surana & Associates LLP.