LEADING LEASING FINANCE AND INVESTMENT COMPANY LIMITED

Notes to the Financial Statements for the Year ended 31st March, 2018

Amount (in Rs.)

Particulars

Figures as at 31.03.2018

Figures as at 31.03.2017

Note 2: Share Capital

Authorised Share Capital

Equity share of Rs. 10/- Each

65,000,000.00

65,000,000.00

Issued. Subscribed & Paid up Share Capital

5335000 Equity share of Rs. 10/- Each Fully paid up in cash

53,350,000.00

53,350,000.00

53,350,000.00

53,350,000.00

Shareholders holding more than 5% shares

Name of the shareholder

No. of shares as on 31.03.2018

%

No. of shares as on 31.03.2017

NIL

-

-

Note 3: Reserves & Surplus

Reserve Fund (u/s 45-IC of RBI Act, 1934) (Sub Note:l)

Opening Balance

4,45,430

253,823.00

Addition during the year

1,68,262

191,607.00

TOTAL (A)

6,13,692

445,430.00

Surplus (Statement of Profit & Loss)

Opening Balance

30,64,917

2,783,898.00

Add: Profit during the year

8,41,311

958,009.00

Less: Provision for IDS payable for FY 2016-17

2,32,020

(222,000.00)

Written off the Balance of TDS Receivable

-

(263,383.00)

Amount available for appropriation

41,38,248

3,256,524.00

Appropriations

Transferred to Reserve Fund (u/s 45-IC of RBI Act, 1934)

168,262

191,607.00

TOTAL (B)

39,69,986

3,064,917.00

TOTAL (A B)

45,83,678

3,510,347.00

Sub Note: 1

In terms of Section 45-IC of the RBI Act, 1934, the Company registered as NBFC with RBI is required to transfer at least 20% of its Profit after tax to a Reserve Fund before any dividend is declared. As at the year end, an amount of Rs. 1,68,262 (Previous Year Rs. 191,607) has accordingly transferred to the Reserve Fund.

Note 4: Long term borrowings

Unsecured Borrowings

Gulmohar Investments & Holdings Ltd.

1,402,903.00

1,402,903.00

Ishita Mahajan

39,543.00

39,543.00

Pride Properties Private Ltd

2,600,000.00

2,600,000.00

Priyanka Mahajan

732,971.00

732,971.00

Pipeline Picture Company

1,075,000.00

1,075,000.00

Marudhar Spinnig and Weaving

962,880

-

Other Unsecured Loans

358,397.00

358,397.00

7,171,694

6,208,814.00

Note 5: Other long term Liabilities

ACME Enterprise

844,265

-

All IN Enterprise

2,549,253

-

Aryaman Enterprise Pvt Ltd

10,745,741

-

DIVYANK CORTTON TEXTILES PVT LTD

1,554,703

-

1,612,407

-

Dmax Tradelink

5,046,110

-

Gold Leaf Enterprise Pvt

5,535,420

-

Maharshi Enterprise

5,070,480

-

METRO MARKETING

-

Micro Agency

4,474,677

.

1,019,701

Platinum Agency Service

2,039,403

Pooja Marketing

3,314,310

SHREE VADECHI INFRASOFT PVT.

1,019,701

Tex Mech Corporation

681,515

Umiya Sales

2520,959

Vinayak Enterprise

48,028,645

-

Note 6: Short term borrowings

Dashrathbhai

-

250,000.00

Tirupati off set

-

40,000.00

Urmilaben Rampark

-

201,000.00

Viral Ranpura

-

400,000.00

TOTAL Bank OD- Bank of Baroda

891,000.00

-

891,000.00

Note 7 : Trade payables

Sundry Creditors

J Akhani & Associates

623,760.00

623,760.00

Arihant Enterprise

87,520.00

87,520.00

Dhruvesh Vedak

30,000.00

30,000.00

Harish Kumar Ishvar

499,000.00

499,000.00

Jitendra Sanghvi

1,000,000.00

1,000,000.00

Mitesh Arvindbhai Shah

-

825,000.00

Winckles Consultancy Pvt. Ltd.

505,000

360,000.00

Harsh Fincap Pvt Ltd

400,000.00

400,000.00

Tirupati offset

40,000

-

Urmilaben Ramprak

201000

-

3,386,280.00

3,825,280.00

Note 8: Other Current Liabilities

Other payables

- Audit Fee Payable

77,500.00

77,500.00

- Rhythm Business Advisory Private Ltd.

-

299,590.00

- Salary Payable

200,000

170,000.00

- TDS Payable

115,405

30,000.00

- Unpaid Expenses

271,750

271,750.00

Viral Ranpura

400,000

-

Professional Charges Payable

30,000

-

Accountancy Charges Payable

60,000

1,154,655

848,840.00

Note9: Short Term Provision

Provision for Taxation

783,887

452,534

Contingent Provision against Standard Assets

335,419

335,247

TOTAL

1,119,306

787,781

Note 11: LONG TERM LOANS AND ADVANCES

Ankur Kumar Mehta

1,896,380

1,896,380

Arcoy Industries

-

14,326,628

Dolt Impex Pvt Ltd

2,168,564

6,234,337

Froid Finance and Investment Pvt Ltd

28,000

4,328,000

Jagdish Akhani

8,993,195

4,743,195

Highland Finance and Investment Pvt Ltd

350,000

2,300,000

Kamlesh Koradiya

-

1,041,100

Nitin Galkwad

1,255,500

1,255,500

Pratisha Developers

2,537,781

2,537,781

SABA India

1,845,350

2,345,350

Satyam Developer Pvt Ltd

2,663,380

6,163,380

Savjiraja Gothi

105,900

105,900

S J Infratech Pvt Ltd

-

1,225,380

Boston Leasing and Finance Ltd

-

155,000

S.R.Industries Ltd.

3,375,000

3,375,000

Triveni Builders

431,500

313,1500

Proficient Multitrade Pvt Ltd

-

2,059,437

Mrs. Ritika Mahajan

213,828

-

Susang Mac. Pvt Ltd

2,862,241

-

Ashok Agarwal

3,416,767

-

BHANWARLAL PUKARAJ MUTHA

1,430,389

-

Hetal Dipen Bora

1,154,392

-

KAMLA DEVI

352,307

-

Kamlesh Bhai Na

20,188,556

-

Malkesh Jitendra

519,397

-

NILANG ARUN DE

499,691

-

Sandhya M Agarwal

5,048,082

-

Sejal Malkesh

1,029,096

-

SHRENIK SETH

539,288

-

Aditya Choksi Faimily Trust

1654,566

-

Daman Polyth

1,127,686

-

Plaha And Mehta Associates

1,559,474

-

Shagun Chembur

1,448,881

-

Swati Buildcon

18,345,367

-

Swati Developer

5,033,510

-

Swati Sandhya

4,056,146

-

Vijaykumar Mehta

12,968,801

-

Other Long Term Loans and Advances

1,694,078

-

Armaan Developers

6,277,545

-

TOTAL

117,070,638

63,031,033

Note 12: INVENTORIES

(Fully paid up unless otherwise stated)

72000 Equity Shares of Gulmohar Investment and Holding Ltd

238,920

238,920

100 Equity Shares of Prashant Protiens Ltd

1000

1000

200 Equity Shares of Fraternity Electronics Ltd

2000

2000

20 Equity Shares of Pentafour communication Ltd

27,873

27,873

50 Equity Shares of Container Corporation of India Ltd

8,510

8,510

Total

278,303

278,303

Aggregate Book Value of unquoted Investment

238,920

238,920

Aggregate Book Value of quoted Investment

39,383

39,383

Aggregate Market Value of quoted Investment

81,821

81,821

Note 13 : CASH AND CASH EQUIVALENTS

Balance with Banks

.

27,269

Cash in Hand

16,985

9,986

Total

16,985

37,255

Note 14: SHORT TERM LOANS AND ADVANCES

Unsecured, considered good

Outstanding for a period of more than 6 months

Amit Mahajan

_

2,749,698

Mrs. Ritika Mahajan

_

213,828

Susang Mac Pvt Ltd

.

2,862,241

Security Deposit with Vodafone

3,000

Total

-

5,828,767

Note 15: OTHER CURRENT ASSETS

TDS Receivable

478,189

246,704

Income Tax Self Assessment

671,230

-

Security Deposit with Vodafone

3000

-

Other Current Assets

34,539

-

Miscellenous Expenditure

222,000

-

Total

1,408,958

246,704

Note 16: REVENUE FROM OPERATIONS

Interest Income

3394364

2719030

Total

3,394,364

2,719,030

Note 17: OTHER INCOME

Consultancy Income

.

79,001

Sundry Dr/Cr Balances Written Off

-

7,713

Total

86,714

Note 18: EMPLOYEE BENEFITS EXPENSE

Salaries, Wages and Other Allowances

191,000

_

Staff Welfare

"

"

Total

191,000

-

Note 19: FINANCE COSTS

Bank Charges

6,187

11,054

Total

6,187

11,054

Note :20 OTHER EXPENSE

Audit Fees

20,000

40,000

Consultancy Expense

-

300,000

Interest paid on TDS

10,902

10,020

Interest pain on Income tax

-

94,448

Professional Charges

300,000

-

Listing Fee

_

429,675

Printing and Stationery

_

60,000

RTA Fees

.

16,854

ROC Fees

.

30,000

BSE Listing Fees

287,500

231,000

Interest Expense

854,050

Accountancy Charges

60,000

-

AMC Charges for MCX

85,050

-

Consolidated Charges

1,325

-

Depository Fees

159,111

-

Professional Fee

10,000

-

Rates & Taxes -GST

239

_

Loan Written Off

115,537

-

Total

1,903,714

1,211,997