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NOTES TO ACCOUNTS

Crescent Leasing Ltd.

You can view the entire text of Notes to accounts of the company for the latest year
Market Cap. (₹) 1.08 Cr. P/BV 0.23 Book Value (₹) 11.41
52 Week High/Low (₹) 7/1 FV/ML 10/1 P/E(X) 20.38
Bookclosure 29/09/2018 EPS (₹) 0.13 Div Yield (%) 0.00
Year End :2016-03 

Additional Information

1. SEGMENT INFORMATION (AS-17)

i. The Company's business segments are identified around products in which company deals.

ii. The accounting policies used in the preparation of the financial statements of the Company are also applied for segment reporting.

iii. Segment revenues, expenses, assets and liabilities are those, which are directly attributable to the segment or allocated on an appropriate basis. Corporate and other revenues, expenses, assets and liabilities to the extent not allocable to segments are disclosed in the reconciliation of reportable segments with the financial statements.

iv. The Company has operated in one segment only during the year under review thus Segmental Report is not applicable to the Company.

2. Related Party Disclosures:

Related party disclosures, as required by AS - 18, "Related Party Disclosures" are given below:

A. Director

Mr. Mahendrasingh B. Rao - Managing Director

Mr. Raj Kumar Mishra - Additional Director

Mr. Binay Bahety - Independent Director

Mr. Ramesh Kr. Saraswat - Independent Director

Mr. Nirmal Kr. Poddar - Independent Director

B. Relationship

i. Related Parties with common control exists

Name of the Companies where the directors can exercise the control

ii. Key Managerial Personnel

Mr. Mahendrasingh B. Rao - Managing Director

Mr. Anup Kr. Behera - Chief Financial Officer

Mr. Sarad Ashok Kajaria - Company Secretary

iii. Transactions with related parties

During the year under consideration no transactions with related party were entered into.

In view of the management there are no contingent liabilities and commitments against the Company.

3. The company has complied with AS-22 on accounting for taxes on Income issued by ICAI accordingly Deferred Tax Liabilities has been recognized by way of charge to Statement of Profit & Loss.

4. Number of employees whose aggregate remuneration were not more than Rs.60,00,000/- per annum or Rs.5,00,000/- per month - Nil(Nil).

5. As required in terms of paragraph 9BB of Non-Banking Financial Companies prudential norms (Reserve Bank) guidelines 1998, schedule is annexed to Balance Sheet.

6. During the year the company has transferred Rs.69,013/- (P.Y Rs.3,02,412/-) to Special Reserve account u/s 45 IC of the RBI Act, 1934 for the year ended 31st March, 2015

7. During the year the company has made a provision of Rs.2,12,238/- on Standard Assets as per NBFC prudential norms under notification number DNBS 222cgm (us) 2011 and DNBS 223 cgm (us) 2011 dated January 17, 2011.

8. Based on the guideline principles given in AS-17 the company is engaged in only investment activities and thus deals in a single primary segment.

9. The company has not entered into any transaction to be disclosed under the heading related party disclosure as per AS 18 issued by ICAI.

10. No provision has been made for the diminution in value of long term investment being temporary in nature.

11. In the opinion of the Board, the Current Assets, Sundry Debtors, Sundry Creditors, Loans & Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the Financial Statements. The balances thereof are as per Books of Accounts only.

12. The Company has not received the required information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the year-end together with interest paid/payable as required under the said Act have not been made.

13. Events Occurring after Balance Sheet Date, No significant events which could affect the financial position as on March 31, 2016, to a material extent have been reported by the management, after the balance sheet date till the signing of the report.

14. Previous year's figures have been grouped/regrouped, arranged/rearranged wherever necessary to make them comparable.

15. Figures have been rounded off to the nearest rupees.

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