| 1. Share options granted under the Employee Share Option Sche me .
The Company has not granted stock options to its employees under
Employee Stock Option Scheme during the year under audit.
2. Detail of shares allotted without payment being received in cash
during five years im mediately preceding the Balance Sheet date are
given below.
3. The Company has not allotted any fully paid up equity shares without
payment being received in cash and by way of bonus shares nor has bought
back any class of equity shares during the period of five years
immediately preceding the balance sheet date.
4 Disclosure required by Accounting Standard (AS) 15 (Revised) on
Employee Benefits :
The Company has not made any provision towards Employee Benefits during
the financial year 2014-1 5 and hence there are no details to be
disclosed as per Accounting Standard (AS) 15 on Employee Benefits .
However the Company accounts for these benefits on payment basis as and
when the payment is made to the employees.
5 Disclosures of Provisions required by Accounting Standards (AS) 29 on
Provisions, Contingent Liabilities and Contingent Assets :
The Company has been advised that Income Tax Demand for assessment year
2001-02 is likely to be either deleted or substantially reduced.
Accordingly, in the opinion of the management there are no provisions
for which disclosure is required during the financial year 2014-15 as
per Accounting Standard (AS 29) on "Provisions, Contingent Liabilities
and Contingent Assets".
6 Contingent Liabilities and Commitments
The Company has filed an appeal with ITAT New Delhi against income tax
demand
of Rs. 24,32,956/- for A.Y 2001-02 which is pendig. In the opinion of
the
mangement, there are no other contingent liabilities and capital
commitments which needs to be disclosed in the financial statements.
7 Gain or loss on foreign currency transaction and translation:
The Company has not made any foreign currency transactions during the
financial year 2014-15.
8. Segment Reporting
A. Primary Segment Reporting (by Business Segment):
(a) The Company has two reportable segments viz. Sale & Purchase of
Shares (Tra ding and Investment) and Financing business (Granting of
unsecured loans), which have been identified in line 'with the
Accounting Standard 1 7 on Segment Reporting, taking into account the
organizational structure as 'well as differential risk and
return of these segments.
(b) The details of the Purchase, Sales and other information from
operations by reportable business segments are as foll o'wsi
B. Secondary Seg ment Reporting (by Geographical dem arcation).
(a) The Company is running its all the businesses from single place and
the expenditure in total are of the nature of indi rect expenses h ich
are not attributable to a ny particular business. The Company has made a
profit of Rs.70,000/- on shares sold out of investments which has been
credited to Profit & Loss Account. However dealing in shares as
investments has not been treated as a separate business.
9 Related Party Disclosures
A. List of Related Parties
i. Associate
(a) Titan Biotech Limited
ii. Related Parties
(a) Tanita Leasing & Finance Limited
(b) Connoisseur Managem ent Services Private Ltd.
(c) Tee Eer Securities& Financial Services Private Limited
(d) Peptech Biosciences Ltd
iii. Key Managerial Personnel.
(a) Ms . Manju Singla (M anaging Director)
(b) Mr. Ravinder Singh Kataria (CS)
(c) Mr.Rajiv Goel, (CFO)
10.The Company has been advised that the computation of net profit for
the purpose of Director s Remuneration under section 197 of the
Companies Act, 2013 need not be enumerated since no commission has been
paid to the Directors. The Company has paid fixed monthly remuneration
to the Director as per Companies (Appointment and Remuneration of
Managerial Personnel ) Rules 2014.
11. For the year ended 31st March, 2015, the Board of Directors of the
Company have not recommended any dividend for the shareholders of the
company.
12. In the opinion of the management, the current assets, loans and
advances are expected to realize at least the amount at which they are
stated, if realized in the ordinary course of business and provision for
all known liabilities have been adequately madein the books of accounts.
13. The previous figure have been reclassified/ rearranged / regrouped
to correspond with current year figures.
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