A) NOTES ON ACCOUNTS
1. In the opinion ofthe Board of Directors, Current Assets, Loans & Advances have a value on realization in ordinary course of business at I east to the amount atwhichthey are stated.
2. Balance standing to the debit or credit of Sundry Debtors, Sundry1 Creditors, Unsecured LoansandLoans & Advances are subject to their confirmation.
3. Details of Auditors remuneration:
4. Previous year figures have been re-grouped and re-arranged wherever considered necessary.
5. There is no creditor relating to trade or expenses which has intimated its identity as a S.S.I. Unit and payment to whom is outstanding for a period exceeding 6 months.
6. Segment Reporting in compliance to AS 17 of ICAI
The Company’s main business is financing by way of hire purchase of used vehicles and providing loans for vehicle and loans for business against security of immovable property. All other activities of the Company revolve around its main business. As such, there are no separate reportable segments, as per the Accounting Standard on ‘Segment Reporting1 (AS 17), specified under Section 133 of CompaniesAct,2013.
7. Related Party Disclosure in compliance to AS18 of I.C.A.I
Transactions are executed in normal course of businessat arm’s length price.
8. The disclosures in the financial statements regarding holdings as well as dealings in specified bank notes during the period from 8th November 2016 to 30th December 2016 have not been made since they do not pertain to the financial year ended 31 March 2018.
9. During the year, the Company has incurred an expenditure of Rs. 1 Crores towards Corporate Social Responsibility activities which includes contribution / donations made to the trusts which are engaged in activities prescribed underSection 135 ofthe Companies Act, 2013 read with Schedule VII to the saidAct.
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