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NOTES TO ACCOUNTS

Mangalam Industrial Finance Ltd.

You can view the entire text of Notes to accounts of the company for the latest year
Market Cap. (₹) 46.16 Cr. P/BV 0.48 Book Value (₹) 1.00
52 Week High/Low (₹) 1/0 FV/ML 1/1 P/E(X) 160.00
Bookclosure 15/09/2018 EPS (₹) 0.00 Div Yield (%) 0.00
Year End :2016-03 

remaining useful life.

B. TERMS/ RIGHTS ATTACHED TO EQUITY SHARES

The Company has only one class of equity share having par value of Rs. 10/- per share. Each holder of Equity share is entitled to one vote per share

In the event of liquidation of the company, the holder of equity shares will be entitled to receive remaining assets of the Company after distribution of all preferential amounts. The Distribution will be in proportion to the number of equity share held by the shareholders_

D, SHARES ISSUED FOR CONSIDERATION OTHER THAN CASH

Out of the above 9,49,45,000 (PY : 9,49,45,000) equity shares have been issued for consideration other than cash._

NOTE-21 OTHER NOTES ON ACCOUNTS

i Based on the information / documents available with the Company, no creditor is covered under Micro, Small and Medium Enterprise Development Act, 2006. As a result, no interest provision/payments have been made by the Company 10 such creditors, if any, and no disclosures thereof are made in these accounts.

ii Balance of Loans & Advances at the end of the year are subject to confirmation by the respective parties.

iii Segment Report :

The Company is engaged in the business of Non-Banking Financial Services and there are no separate reportable segments as per Accounting Standard 17.

iv Related Party Disclosure :

As per accounting standard 18 the information for related parties is given below:

Name of lhe related parties

ASSOCIATES - None

SUBSID1ARIES/WIIOLLY OWNED SUBSIDIARIES - None

KEY MANAGEMENT PERSONNEL ( KMP )

1. Pradeep Kumar Daga : Managing Director

2. Kirti Sharma (from 16/02/2016) : Whole Time Director

3. Anand Kumar Jain (from 17/08/2015) : Chief Financial Officer

4. Kirti Sharma (from 07/02/2016) : Company Secretary

5. Tapas Mondal (resign on 08/07/2015) : Chief Financial Officer

6. Sanjaya Kumar Rout (resign on 06/02/2016) : Company Secretary

7. Tapas Mondal (resign on 08/07/2015) : Whole Time Director

8. Vinita Daga (resign on 06/02/2016) : Director (wife of Pradeep Kumar Daga)

ENTERPRISE IN WHICH KMP AND THEIR RELATIVES HAS SUBSTANTIAL INTEREST - None

v The Company has Complied this information based on the current information in its possession as at 31.03.2016, No supplier has intimated the Company about its status as a Micro or Small enterprise or its Registration with the appropriate authority under the Micro, Small and Medium Enterprises Development Act, 2006

Amount due to Micro Small and Medium Enterprises as on 31.03.2016 Rs. NIL ( P.Y. Rs. NIL )

vi Deferred Taxation :

In the opinion of the management, the Company has provided the provisions for deferred tax assets on account of carry forward losses as well as on the timing differences for the period in which there is virtual certainty of sufficient future income for realization in future years, in accordance with AS-22 " Accounting For Taxes On Income " issued by the Institute of Chartered Accountants of India.

vii The Company has availed MAT credit entitlement amounting to Rs. I 10050.

viii The Financial Statement and Notes on Account has been prepared as per Companies Act, 2013 with their Schedule as the same is effective from 1st April, 2014.

ix Provision for taxation on Income for the year has been made under section 115JB of the income tax act, being Minimum alternate tax higher than tax calculated on income under normal computation as per income tax act. Accordingly the statement of profit and loss has been credited minimum alternate tax credit receivable has been debited with similar amount.

x The company has transferred as on 26.05.2015, the following investments held by it as Non Current Investments to stock in trade.

1. STATE BANK OH INDIA 1500 Shares

2. TATA MOTORS 1000 Shares

xi The company has booked all losses arising from Futures & Options transactions marking them mark to market. As on 31.03.2016, there are no outstanding contracts.

xii The management has assessed that there is no impairment of Fixed assets requiring provisions in the accounts. Accordingly, there is no debit to the Profit & Loss Account for the impairment of assets.

xiii No Provision has been made on account of gratuity as none of the employees have put in completed years of Service as required by the Payment of Gratuity Act.

xiv No provision has been made on account of leave salary as there are no leave to the credit of employees as at the end of the year.

xv Previous Year figures have been regrouped, rearranged or recanted wherever considered necessary.

xvi Information’s required to be furnished under paragraph 13 of Non-Banking Financial Companies Prudential Norms (Reserve Bank) Directions, 2007 is annexed separately.

xvii No provision has been made for fall in the market value of investment as the said fall is of temporary in nature.

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