Notes to Accounts of Hindustan Auto Finance Ltd.

Mar 31, 2014

CORPORATE INFORMATION

The company is incorporated under Companies Act 1956 and the main source of revenue of the company is lease income. The Company has followed Prudential Norms of RBI for Non-Banking Financial Companies (NBFCs) with regard to asset classification, recognition, investments and provisioning.

1. CONTINGENT LIABILITIES:

CLAIMS AGAINST THE COMPANY NOT ACKNOWLEDGED AS DEBTS:

PERIOD AMOUNT LEVEL OF AUTHORITY NATURE

AY: 2001-2002 Rs. 1,54,388/- C.I.T (A)-Meerut Income Tax

2. RELATED PARTY DISCLOSURE

Parties where control exist:

Persons having significant control-

1) Subhash Sapra 2) Neera Sapra

Key managerial person-

1) Subhash Sapra 2) Neera Sapra

Nature of transaction-Managerial Remuneration Volume of Transaction-

CY:Rs. 18,000(Dr.) PY: Rs. 5,40,000(Dr.)

Closing Balance of Transaction-

CY:Rs. NIL PY: Rs. 90,100(Cr.)

3. Previous year figures are regrouped and rearranged according to the requirement of schedule VI. Assets and liabilities are classified as current and non current based on the period of the operating cycle of the business and in case of absence of period of operating cycle it can be considered to be at least equal to 12 months.

4. Debtors and creditors are subject to confirmation

5. These notes are integral part of financial statement for financial year 2013-14

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Mar 31, 2013

1. CORPORATE INFORMATION

The company is incorporated under Companies Act 1956 and the main source of revenue of the company is lease income. The Company has followed Prudential Norms of RBI tor Non-Banking Financial Companies (NBFCs) with regard to asset classification, recognition, investments and provisioning.

2. CONTINGENT LIABILITIES:

CLAIMS AGAINST THE COMPANY NOT ACKNOWLEDGED AS DEBTS:

PERIOD AMOUNT LEVEL OF NATURE AUTHORITY

2001-2002 Rs. 1,54,388/- C.I.T (A)-Meerut income Tax

3. Previous year figures are regrouped and rearranged according to the requirement of schedule VI. Assets and liabilities are classified as current and non current based on the period of the operating cycle of the business and in case of absence of period of operating cycle it can be considered to be at least equal to 12 months.

4. Debtors and creditors are subject to confirmation

5. These notes are integral part of financial statement for financial year 2012-13

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Mar 31, 2012

CORPORATE INFORMATION

The company is incorporated under Companies Act 1956 and the main source of revenue of the company is lease income, The Company has followed Prudential Norms of RBI for Non-Banking Financial Companies (NBFCs) with regal'd to asset classification, recognition, investments and provisioning.

1. CONTINGENT LIABILITIES:

PERIOD AMOUNT LEVEL OF AUTHORITY NATURE

AY:20O1-2002 Rs. 1,54,388/- C.1.T (A)-Meerut Income Tax

2. RELATED PARTY DISCLOSURE

Parlies where control exist:

Persons having significant control-

l)Subhash Sapra

2)Neera Sapra

Key managerial person-

1 )Subhash Sapra

2)Neera Sapra

Nature of transaction-Managerial Remuneration Volume of Transaction-

CY: Rs. 5,40,000(Dr.)

PY: Rs. 5,40,000(Dr.)

Closing Balance of Transaction-

CY: Rs. 6,82,60U(Cr.)

PY:Rs.l2,82,600(Cr.)

3. Previous year figures are regrouped and rearranged according to the requirement of schedule VI. Assets and liabilities are classified as current and non current based on the period of the operating cycle of the business and in case of absence of period of operating cycle it can be considered to be at least equal to 12 months.

4. Debtors and creditors are subject to confirmation

5. These notes are integral part of financial statement for financial year 2011-12