Notes to Accounts of Amrapali Capital & Finance Services Ltd.

Mar 31, 2024

q) Provisions Contingent liabilities and contingent assets:-

A provision is recognized if, as a result of a past event, the Company has a
present legal obligation that can be estimated reliably, and it is probable that
an outflow of economic benefits will be required to settle the obligation.
Provisions are determined by the best estimate of the outflow of economic
benefits required to settle the obligation at the reporting date. Where no
reliable estimate can be made, a disclosure is made as Contingent Liability.

A disclosure for a Contingent Liability is also made when there is a possible
obligation or a present obligation that may, but probably will not, require an
outflow of resources. Where there is a possible obligation or a present
obligation in respect of which the likelihood of outflow of resources is
remote, no provision or disclosure is made.

Possible obligation that arises from the past events whose existence will be
confirmed by the occurrence or non-occurrence of one or more uncertain
future events beyond the control of the Company or a present obligation that
is not recognized because it is not probable that an outflow of resources will
be required to settle the obligation is reported as Contingent Liability. In the
rare cases, when a liability cannot be measures reliable, it is classified as
Contingent Liability. The Company does not recognize a Contingent Liability
but disclosed its existence in the standalone financial statements.

r) Event after Reporting Date:-

Where events occurring after the Balance Sheet date provide evidence of
condition that existed at the end of reporting period, the impact of such
events is adjusted within the standalone financial statements. Otherwise,
events after the Balance Sheet date of material size or nature are only
disclosed.

All the events occurring after the Balance Sheet date up to the date of the
approval of the standalone financial statement of the Company by the board
of directors on May 30^th 2023, have been considered, disclosed and adjusted,
wherever applicable, as per the requirement of Accounting Standards.

26. Figures in financial statement have been regrouped and / or rearranged where
ever necessary.

27. The balances of Trade payables, Trade Receivable and loans and advances are
subject to confirmation by respective parties.

28. In the opinion of the Board of Directors, the current assets, loans and advances
are approximately of the value stated, if realized in the ordinary course of
business.

29. In the opinion of the Board of Directors, provisions for depreciation and all
liabilities are adequate and not in excess of the amount reasonably necessary.

30. Wherever external evidence in the form of cash memos / bills / supporting are
not available, the internal vouchers have been prepared, authorized and
approved.

31. Statement of Management

(i) The current assets, loans and advances are good and recoverable and are
approximately of the values, if realized in the ordinary courses of business
unless and to the extent stated otherwise in the Accounts. Provision for all
known liabilities is adequate and not in excess of amount reasonably
necessary.

(ii) Balance Sheet, Statement of Profit and Loss and Cash Flow Statement read
together with Notes to the accounts thereon, are drawn up so as to
disclose the information required under the Companies Act, 2013 as well
as give a true and fair view of the statement of affairs of the Company as
at the end of the year and results of the Company for the year under
review.

32. Estimated amount of contracts remaining to be executed on capital account and
not provided for: - NIL.

33. The Company has not advanced or loaned to or invested in funds to any other
person(s) or entity (is), including foreign entities (Intermediaries) with the
understanding that the Intermediary shall:

a. directly or indirectly lend to or invest in other persons or entities identified
in any manner whatsoever by or on behalf of the company (Ultimate
Beneficiaries) or

b. provide any guarantee, security or the like to or on behalf of the Ultimate
Beneficiaries.

34. The Company has not received any fund from any person(s] or entity(is],
including foreign entities (Funding Party] with the understanding (whether
recorded in writing or otherwise] that the Company shall:

a. directly or indirectly lend to or invest in other persons or entities
identified in any manner whatsoever by or on behalf of the Funding Party
(Ultimate Beneficiaries] or

b. provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries.

35. The company''s is in a business of stock broking in NSE and BSE as trading &
clearing member and has earned brokerage income. The company has also
carried out the business of trading in shares & securities in cash segment. The
company has also carried out the business of trading in futures & options in
shares and trading in commodity derivatives.

36. The Company has carefully considered the impact of Accounting Standard-28
pertaining to Impairment loss. As the recoverable amount of assets is higher
than the W.D.V. of its Fixed Assets and hence no provision is made for
impairment of Assets.

37. In the opinion of the Board of Directors, provisions for depreciation and all
liabilities are adequate and not in excess of the amount reasonably necessary.

The company has initiated the process of obtaining the confirmation from
suppliers who have registered themselves under the Micro, Small and Medium
Enterprises Development Act, 2006 (MSMED Act, 2006] but has not received the
same in totality. The above information is compiled based on the extent of
responses received by the company from its suppliers.

42. Title deeds of immovable Property

Tittle deeds of immovable property has not been held in the name of promoter,
director, or relative of promoter/ director or employee of promoters / director
of the company, hence same are held in the name of the company.

43. Revaluation of Property, Plant and Equipment and Intangible Assets:-

The company has not done revaluation of Property, Plant and Equipment and
Intangible Assets.

44. Loans or Advances in the nature of loans to promoters, directors, KMPs and
the related parties:-

No Loans or Advances in the nature of loans are granted to promoters, directors,
KMPs and the related parties (as defined under Companies Act, 2013,] either
severally or jointly with any other person.

45. Capital Work In Progress (CWIP):-

There is no Capital Work In Progress (CWIP) for the current year

46. Intangible assets under development:-

There is no Intangible assets under development in the current year.

47. Details of Benami Property held:-

The company does not have any benami property, where any proceeding has
been initiated or pending against the company for holding any benami property
under the Benami Transaction (prohibition] act, 1988 and rules made there
under.

48. Borrowings from bank or financial institution on the basis of current assets:-

Quarterly returns or statements of current assets filed by the Company with
banks or financial institutions are in agreement with the books of accounts.

49. Wilful Defaulter:-

The Company has not been declared a wilful defaulter by any bank or financial
institution or government or government authority

50. Relationship with Struck off Companies:-

The company does not have such transaction with Struck off Companies.

51. Registration of charges or satisfaction with Registrar of Companies:-

The company does not have any charges or satisfaction, which is yet to be
registered with Registrar of Companies beyond the statutory period.

52. Compliance with approved Scheme(s) of Arrangements

The Company does not have made any arrangements in terms of section 230 to
237 of companies act 2013, and hence there is no deviation to be disclosed.

53. Utilization of Borrowed funds and share premium:-

As on March 31, 2024 there is no unutilized amount in respect of any issue of
securities and long term borrowings from bank and financial institutions. The
borrowed funds have been utilized for the specific purpose for which the funds
were raised.

54. Corporate Social Responsibility (CSR):-

The section 135 Corporate Social Responsibility of Companies Act, 2013 is not
applicable to the Company.

55. Details of crypto currency or virtual currency:-

The company has not traded or invested in crypto currency or virtual currency
during the financial year.

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Mar 31, 2015

(I) GENERAL NOTES :

As regards the other Accounting Standards, they are statutorily applicable to our Company i.e Amrapali Capital & Finance Services Limited but as there are no transactions inviting those Accounting Standards, no specific disclosures on the same are made.

(II) OTHER NOTES FORMING PART OF THE ACCOUNTS :

1. Previous year figures have been regrouped and / or rearranged where ever necessary

2. The Company has carefully considered the impact of Accounting Standard -28 pertaining to Impairment loss. As the recoverable amount of assets is higher than the W.D.V. of its Fixed Assets and hence no provision is made for impairment of Assets.

3. The balances of Trade payables, Trade Receivable and loans and advances are subject to confirmation by respective parties.

4. In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value stated, if realized in the ordinary course of business.

5. In the opinion of the Board of Directors, provisions for depreciation and all liabilities are adequate and not in excess of the amount reasonably necessary.

(6) Wherever external evidence in the form of cash memos / bills / supporting are not available, the internal vouchers have been prepared, authorized and approved.

(7) Inventories are as per the inventory taken, verified, valued and certified by the management.

(8)Reporting under Micro, Small and Medium Enterprise Development Act, 2006

The Company has not received information from vendors regarding their status under the Micro, Small & Medium Enterprise Development Act, 2006 and hence disclosure relating to the amount unpaid at the year-end together with the interest paid / payable under this Act has not been given.

(9) Estimated amount of contracts remaining to be executed on capital account and not provided for : - NIL

(10) The search proceedings u/s.132 of the Income-tax Act, 1961 has been carried out by the Income- tax Authority at the business premises of the company Amrapali Capital and Finance Services Ltd. on 26/10/2012. In pursuance of the search proceedings, the company and other applicants of Amrapali Group have filed applications before the Hon'ble Settlement Commission, Mumbai. Wherein the company has disclosed net additional income of Rs.2,58,87,239/- for the F.Y.2006-07 to 2013-14 relevant to A.Y.2007-08 to 2014-15. During the year the Hon'ble Settlement Commission has passed an Order u/s.245D(1) of the Act dated 21/11/2014 admitting the application of the company and the Hon'ble Settlement Commission has also passed an Order u/s.245D(2C) of the Act dated 9/1/2015 considering the application of the company as valid. The company has paid Income-tax with interest on the net additional income offered before the Hon'ble Settlement Commission for an amount of Rs.1,07,90,000/-. The necessary accounting entries have been passed in the books of accounts. The capitalization in the form of cash balance for an amount of Rs.2,58,87,239/- has been given in the books of accounts and the said cash balance has been deposited in the bank accounts. The net additional income offered before the Hon'ble Settlement Commission has been shown under the head "Reserves & Surplus" for an amount of Rs.2,58,87,239/-. The taxes with interest paid Rs. 1,07,90,500/- on net additional income offered before the Hon'ble Settlement Commission, has been shown under the head "Other non-current assets". The final hearing and order of the company of Hon'ble Settlement Commission u/s.245D(4) of the Income-tax Act, 1961 is pending.

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Mar 31, 2013

Not Available.