| 1.RELATED PARTY DISCLOSURE
As per Accounting Standard 18, the disclosures of transactions with the
related parties are given below :
a List of Related Parties. (as identified and certified by the
Management)
S.N Name of the Related Party Relationship
o.
1 Shri Raghunandan Prasad Key Managerial Personnel
2 Shri Rajat Prasad Key Managerial Personnel
3 Mrs. P.S.Prasad Key Managerial Personnel
4 Mrs. Minu Tondon Key Managerial Personnel
5 Shri Monojit Bose Key Managerial Personnel
6 Shri Manish Agarwal Key Managerial Personnel
7 Shri Anurag Awasthi Key Managerial Personnel
8 Shri Sumit Kumar Sharma Key Managerial Personnel
9 Shri Tapas Shankar Das Gupta Key Managerial Personnel
10 Shri Tapas Kumar Biswas Key Managerial Personnel
11 Shri Jeetesh Kumar Key Managerial Personnel
12 Shri Sandeep Kumar Dhall Key Managerial Personnel
b Transactions during the year with related parties.
Remuneration Key Managerial Personnel Rs 71,98,456
Amount Due from us as Key Managerial Personnel Rs 79,92,000
Amount Due to us as Associate Company Rs 4,99,673
2. Previous year's figures has bee n regrouped and rearranged wherever
consi dered necessary so as to make them comparable with those of the
current year.
3. Micro, Small and Medium Enterprises Development Act, 2006
On the basis of information and record available with the Management,
the following disclosure pursuant to the above Act are made for the
amount due to the Micro and small Enterprises, who have registered with
the competent authorities :
4. The accounts of Two Subsidiaries of RR Financial Consultants Ltd,
Two Subsidiaries of R R Equity Brokers Private Limited, One Subsidiary
of RR Investors Capital Services private limited and One subsidiary of
RR Infra Estate Private Ltd., whose financial year closes on 31st March
2015 have been prepared for the year ended on 30th June 2015 for the
purpose of consolidation.
5. As per the management all fees are received from financ ial services
and capital markets. Therefore, in accord ance with Accounting Standard
17 issued by The Institute of Chartered Accountants of India (AS17) on
segment reporting, financial services is the only reportable business
segments and cannot be segregated. In the circumstances segment
information required by AS 17, cannot be furnished.
6. The management has not provided / account for deferred tax liability
/ assets in hold! ng company, in accordance with the Accounting
Standards 22 issued by The Institute of Chartered Accountants of India
(AS22) on 'Accounting for Taxes on Income' as the same is not expected
to be realized in the foreseeable future.
7. Foreign Currency Transactions
Expenditure incurred in Foreign Currency Nil
Income in Foreign Currency Nil
Other Receipts Nil
8. Contingent Liabilities and Commitments.
(to be extent not provided for)
(i) Contingent Liabilities shall be classified as :
(a) Claims against the company not acknowledged as debts 2043 Lacs
(b) Bank guarantees outstanding*
Against Loan 1300 Lacs
Against Margin of stock Exchange 900 Lacs
(c) Other money for which the company is contingently liable NIL
(i i) Commitments shall be classified as :
(a) Estimated amount of contracts remaining to
be executed on capital amount and not provided for NIL
(b) Uncalled liability on shares and other investments NIL
party paid
(c) Other commitments (specify nature) . NIL
9. During the year, pursuant to the provisions of Schedule II to the
companies Act, 2013 with effect from 1st April 2014, the Company has
revised the estimated useful life of the Assets as mentioned in Note no
1(d) (ii & iii). Pursuant to the transition provisions prescribed in
Schedule II to the Companies Act, 2013, the Company has fully
depreciated the carrying Value of assets (net of residual value), where
the remaining useful life of the asset was determined to be Nil as on 1
st April, 2014 and has been adjusted to the opening retained earnings.
For the other assets the carrying amount as on 1st April 2014 will be
amortized over the remaining useful life of assets. As a result:-
10. An amount of Rs. 15,81,677/- has been recognized to the opening
retained earnings as on 1st April, 2014.
11. Depreciation expense for the year ended 30th June is lower by Rs
3,40,948/-
12. All Parties Accounts and bank accounts are subject to confirmation.
13. Balance with Bank in deposit accounts include deposit of 5000000/- (
previous year Rs 5000000/- under lien with IRDA)
14. In one of the subsidiary which is NBFC Management has classified all
Advances/Loans given as standard Assets as in its opinion and as per
stipulations of contract all advances/Loans including Interest are
payable on demand.
15. Extraordinary items for the current year is Rs.1,63,97,052, includes
amount paid for claim and damages.
16. No provision has been made for amoun t of Rs 3 Crore Paid against
claim by a Investor as same is recoverable from issuer company.
17. No provision has been for Sundry debtors more than 6 month ( as
shown In note no 16 ) which includes revenues provided on estimated
basis in the earlier years as mentioned in Accounting Policy of the
financial statements as steps is being taken by the management to
reconcile and recover the amount.
|