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NOTES ON ACCOUNTS |
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NOTES ON ACCOUNTS : |
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The Financial Statements are prepared in accordance with the historical cost convention and applicable accounting standards.
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Accrual method of accounting is followed with regard to Income and Expenses.
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Income from Hire Purchase Advances are accounted by adopting Internal Rate of Return Method for the Instalments due as per the Agreement.
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Fixed Assets are stated at cost less Depreciation.
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Depreciation has been provided on the written down value method at the rates specified (on prorata basis) in Schedule XIV of the Companies Act, 1956.
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Stock on Hire has been valued at the amount advanced less instalments received.
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Investments are stated at cost. (Market Value Rs.38,22,215/-)
Auditor’s Remuneration: |
Rs. |
Audit Fees |
35,000/- |
Tax Audit Fees |
20,000/- |
Management Services & Certification Work |
20,000/- |
Out of Pocket Expenses |
7,000/- |
- Expenditure in Foreign Currency: NIL.
- Contingent liability not provided for: NIL.
- Figures have been regrouped or reclassified wherever necessary.
- Figures have been rounded off to the nearest rupee.
- The previous year figures for the Balance Sheet and Profit and Loss A/c are given wherever applicable.
- Managerial Remuneration:
Total Managerial Remuneration paid to Executive Director: Rs.2,94,000/-.
15. Provison for Taxations inculdes earlier years provision also.
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Teckchand Vaswani |
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L.V. Anantram |
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R. Varadarajan |
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A.K. Sabesan |
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T.V.Srinivasan |
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V.G.Suresh Kumar |
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T.S. Ramakrishnan |
Directors |
| K.V.Aiyappan
Chairman |
P.Sankaran
Executive Director |
J.Narassimhan
Company Secretary |
As per my report attached
K.C.Sthalasayanam
Chartered Accountant |
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Place : Chennai - 17 |
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Date : 24/04/2010 |
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| SCHEDULE TO THE BALANCE SHEET OF ABIRAMI FINANCIAL SERVICES (INDIA) LIMITED |
| (AS REQUIRED IN TERMS OF PARAGRAPH 9BB OF NON BANKING FINANCIAL COMPANIES PRUDENTIAL NORMS (RESERVE BANK) DIRECTIONS, 1998) |
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PARTICULARS |
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Liabilities Side: |
Amount Outstanding |
Amount Overdue |
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Rs |
Rs |
| 1 |
Loans and advances availed by the NBFCs inclusive of interest accrued thereon but not paid: |
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(a)Debentures : Secured
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0 |
0 |
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Unsecured (other than falling within the meaning of public deposits) |
0 |
0 |
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(b)Deferred Credits |
0 |
0 |
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(c)Term Loans |
0 |
0 |
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(d)Inter-corporate loans and borrowing |
0 |
0 |
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(e)Commercial Paper |
0 |
0 |
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(f)Public Deposits |
0 |
0 |
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(g)Other Loans (specify nature) |
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Deposits from Directors and their Relatives |
0 |
0 |
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| 2 |
Break-up of (1) (f) above (Outstanding public deposits inclusive of interest accrued thereon but not paid): |
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(a)In the form of Unsecured debentures |
0 |
0 |
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(b)In the form of partly secured debentures
i.e. debentures where there is a shortfall in the value of security |
0 |
0 |
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(c)Other public deposits |
0 |
0 |
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Assets Side: |
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Amount Outstanding |
| 3 |
Break-up of Loans and Advances including bills receivables (Other than those included in (4) below): |
Rs |
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(a) Secured |
7042582 |
0 |
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(b) Unsecured |
7750000 |
0 |
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| 4 |
Break-up of Leased Assets and Stock on Hire and Hypothecation Loans counting towards EL/HP activities: |
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Amount Outstanding |
Amount Overdue |
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(Rs) |
(Rs) |
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(i) Lease assets including lease rentals under sundry debtors: |
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(a) Financial Lease |
0 |
0 |
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(b) Operating Lease |
0 |
0 |
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(ii) Stock on Hire including hire charges under sundry debtors: |
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(a) Assets on hire |
2245186 |
723186 |
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(b) Repossessed Assets |
0 |
0 |
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(iii) Hypothecation loans counting towards EL/HP activities |
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(a) Loans where assets have been repossessed |
0 |
0 |
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(b) Loans other than (a) above |
0 |
0 |
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| 5 |
Break-up of Investments: |
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Current Investments: |
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1 Quoted: |
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(i) Shares : (a) Equity |
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4308182 |
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(b) Preference |
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0 |
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(ii) Debentures and Bonds |
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0 |
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(iii) Units of mutual funds |
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0 |
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(iv) Government Securities |
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0 |
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(v) Others (Please Specify) |
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0 |
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2 Unquoted: |
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(i) Shares : (a) Equity |
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0 |
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(b) Preference |
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0 |
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(ii) Debentures and Bonds |
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0 |
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(iii) Units of mutual funds |
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0 |
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(iv) Government Securities |
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0 |
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(v) Others (Please Specify) |
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0 |
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Long Term Investments |
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1 Quoted: |
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(i) Shares : (a) Equity |
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0 |
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(b) Preference |
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0 |
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(ii) Debentures and Bonds |
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0 |
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(iii) Units of mutual funds |
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0 |
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(iv) Government Securities |
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0 |
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(v) Others (Please Specify) |
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0 |
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2 Unquoted: |
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(i) Shares : (a) Equity |
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3840000 |
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(b) Preference |
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0 |
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(ii) Debentures and Bonds |
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0 |
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(iii) Units of mutual funds |
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0 |
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(iv) Government Securities |
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0 |
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(v) Others (Please Specify) |
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0 |
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| 6 |
Borrower group-wise classification of all leased assets, stock-on-hire and loans and advances: |
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Amount of Net Provisions |
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Category |
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Secured |
Unsecured |
Total |
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Rs |
Rs |
Rs |
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1 Related Parties |
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(a) Subsidiaries |
0 |
0 |
0 |
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(b) Companies in the same group |
0 |
0 |
0 |
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(c) Other related parties |
0 |
0 |
0 |
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2 Other than related Parties |
17037768 |
0 |
17037768 |
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Total |
17037768 |
0 |
17037768 |
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| 7 |
Investor group-wise classification of all investments (current and long term) in shares and securities (both quoted and unquoted): |
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Category |
Market Value/ Break |
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Book value(Net of Provisions) |
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up or fair value or NAV |
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Rs |
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Rs |
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1 Related Parties |
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(a) Subsidiaries |
0 |
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0 |
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(b) Companies in the same group |
3840000 |
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3840000 |
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(c) Other related parties |
0 |
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0 |
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2 Other than related Parties |
3822215 |
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4308182 |
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| 8 |
Other Information: |
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Amount |
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(Rs) |
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(i) Gross Non-Performing Assets |
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(a) Related Parties |
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(b) Other than related parties |
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723186 |
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(ii) Net Non-Performing Assets |
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(a) Related Parties |
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0 |
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(b) Other than related parties |
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723186 |
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(iii) Assets acquired in satisfaction of debt |
0 |
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