Accounting Policies of Twentyfirst Century Management Services Ltd. Company

Mar 31, 2025

18. Significant Accounting Policies

a. Basis of preparation of financial statements

These financial statements are prepared in accordance with Indian Accounting Standard
(Ind AS), under the historical cost convention on the accrual basis except for certain financial
instruments which are measured at fair values, the provisions of the Companies Act, 2013
(“the Act”) (to the extent notified) and guidelines issued by the Securities and Exchange Board
of India (SEBI). The Ind AS are prescribed under Section 133 of the Act read with Rule 3 of
the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules
issued thereafter. Accounting policies have been consistently applied except where a newly
issued accounting standard is initially adopted or a revision to an existing accounting standard
requires a change in the accounting policy hitherto in use. As the year-end figures are taken
from the source and rounded to the nearest digits, the figures reported for the previous quarters
might not always add up to the year figures reported in this statement. The financial statements
are prepared under the historical cost basis except for following assets and liabilities which
have been measure at fair value:

• Certain Financial Assets & Liabilities (including derivative instruments)

• Define Benefited Plan

b. Use of Estimates

The preparation of the financial statements in conformity with Ind AS requires the Management
to make estimates, judgments and assumptions. These estimates, judgments and assumptions
affect the application of accounting policies and the reported amounts of assets and liabilities,
the disclosures of contingent assets and liabilities at the date of the financial statements and
reported amounts of revenues and expenses during the period. Accounting estimates could
change from period to period. Actual results could differ from those estimates. Appropriate
changes in estimates are made as the Management becomes aware of changes in
circumstances surrounding the estimates. Changes in estimates are reflected in the financial
statements in the period in which changes are made and, if material, their effects are disclosed
in the notes to the financial statements.

c. Revenue Recognition

Revenue is measured at the fair value of the consideration received or receivable. Revenue is
generally accounted on accrual or as they are earned or incurred except in case of significant
uncertainty. Revenue from investing / trading in shares, securities etc. is recognized on trade
dates on first in first out basis. Revenue from Derivative Instruments & any gains or losses
arising from changes in the fair value of derivatives are taken directly to Statement of Profit and
Loss, except for the effective portion of cash flow hedges in respect of completed transactions
pending settlement process, necessary treatment is given in the accounts for the Profits/
Losses arising from these transactions. Dividend income is accounted for on receipt basis.

d. Financial Instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a
financial liability or equity instrument of another entity.

Financial Assets
Initial Recognition

The Company recognizes a financial asset in its Balance Sheet when it becomes party to
the contractual provisions of the instrument. All financial assets are recognized initially at fair
value, plus in the case of financial assets not recorded at fair value through profit or loss
(FVTPL), transaction costs that are attributable to the acquisition of the financial asset.

However, trade receivables that do not contain a significant financing component are measured
at transaction price.

Subsequent measurement

For subsequent measurement, the Company classifies a financial asset in accordance with the
below criteria:

a. Non-derivative financial instruments

i. Financial assets carried at amortized cost A financial asset is subsequently measured
at amortized cost if it is held within a business model whose objective is to hold
the asset in order to collect contractual cash flows and the contractual terms of the
financial asset give rise on specified dates to cash flows that are solely payments of
principal and interest on the principal amount outstanding.

ii. Financial assets at fair value through other comprehensive income

A financial asset is subsequently measured at fair value through other comprehensive
income if it is held within a business model whose objective is achieved by both
collecting contractual cash flows and selling financial assets and the contractual
terms of the financial asset give rise on specified dates to cash flows that are solely
payments of principal and interest on the principal amount outstanding. The Company
has made an irrevocable election for its investments which are classified as equity
instruments to present the subsequent changes in fair value in other comprehensive
income based on its business model.

iii. Financial assets at fair value through profit or loss

A financial asset which is not classified in any of the above categories is subsequently
fair valued through profit or loss

b. Investment in subsidiaries

Investment in subsidiaries is carried at cost in the separate financial statements.

!. Income taxes
Current Tax:

The tax expense for the period comprises current and deferred tax. Tax is recognized
in Statement of Profit and Loss, except to the extent that it relates to items recognized in
the comprehensive income or in equity. In which case, the tax is also recognized in other
comprehensive income or equity.

Deferred Tax:

Deferred tax is recognized on temporary differences between the carrying amounts of
assets and liabilities in the financial statements and the corresponding tax bases used in the
computation of taxable profit.

f. Property, Plant and Equipment

Property, plant and equipment are stated at cost, less accumulated depreciation and impairment,
if any. Costs directly attributable to acquisition are capitalized until the property, plant and
equipment are ready for use, as intended by the Management. The Company depreciates
property, plant and equipment over their estimated useful lives. Depreciation on all assets of
the Company is provided on WDV Method at the rates and manner prescribed in Schedule II
to the Companies Act, 2013.

g. Recent Accounting Pronouncements

Minister of Corporate Affairs (“MCA”) notifies new standards or amendments to the existing
standard under Companies (Indian Accounting Standards) Rules as issued from time to time
on March 31,2025, MCA has not notified any new standards or amendments to the existing
standards applicable to the Company.

h. Depreciation

Property, Plant & Equipment are depreciated using the written down value method to allocate
their cost, net of their residual values, over their estimated useful lives as prescribed in
Schedule II to the Companies Act, 2013. Gains and losses on disposals are determined by
comparing proceeds with carrying amount. These are included in profit or loss.

i. Lease Accounting

Leases are classified as finance leases whenever the terms of the lease transfer substantially
all the Risks and rewards of ownership to the lessee. All other leases are classified as operating
leases. In respect of assets taken on short term operating lease with a lease term of up to 12
months, lease rentals are recognized as an expense in the Statement of Profit and Loss on
straight line basis over the lease term unless another systematic basis is more representative
of the time pattern in which the benefit is derived from the leased asset; or the payments to the
lessor are structured to increase in the line with expected general inflation to compensate for
the lessor’s expected inflationary cost increases.

j. Employment Benefits

- Short Term Obligations

Liabilities for wages and salaries, including non-monetary benefits that are expected to be
settled wholly within 12 months after the end of the period in which the employees render
the related service are recognised in respect of employees’ services up to the end of the
reporting period and are measured at the amounts expected to be paid when the liabilities
are settled. The liabilities are presented as current employee benefit obligations in the
balance sheet.

- Post-Employment Obligations

The Company operates the following post-employment schemes: Defined Benefit Plans
such as Gratuity and defined contribution plans such as provident fund.

- Defined Benefit Plans like Gratuity:

The Company provides for gratuity benefit to its employees (included as part of contribution
to provident and other fund in note no -18 employee benefit expenses) which is funded
with life insurance corporation of India. Company has followed IND AS 19.

- Defined Contribution Plans like Provident Fund: The Company pays provident fund
contributions to publicly administered provident funds as per local regulations. The
Company has no further payment obligations once the contributions have been paid.
The contributions are accounted for as defined contribution plans and the contributions
are recognised as employee benefit expense when they are due. Prepaid contributions
are recognised as an asset to the extent that a cash refund or a reduction in the future
payments is available.

---

Mar 31, 2024

19. Significant Accounting Policies

a. Basis of preparation of financial statements

These financial statements are prepared in accordance with Indian Accounting Standard (Ind AS), under the historical cost convention on the accrual basis except for certain financial instruments which are measured at fair values, the provisions of the Companies Act, 2013 (“the Act”) (to the extent notified) and guidelines issued by the Securities and Exchange Board of India (SEBI). The Ind AS are prescribed under Section 133 of the Act read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and relevant amendment rules issued thereafter. Accounting policies have been consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing accounting standard requires a change in the accounting policy hitherto in use. As the year-end figures are taken from the source and rounded to the nearest digits, the figures reported for the previous quarters might not always add up to the year figures reported in this statement. The financial statements are prepared under the historical cost basis except for following assets and liabilities which have been measure at fair value:

• Certain Financial Assets & Liabilities (including derivative instruments)

• Define Benefited Plan

b. Use of Estimates

The preparation of the financial statements in conformity with Ind AS requires the Management to make estimates, judgments and assumptions. These estimates, judgments and assumptions affect the application of accounting policies and the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the period. Accounting estimates could change from period to period. Actual results could differ from those estimates. Appropriate changes in estimates are made as the Management becomes aware of changes in circumstances surrounding the estimates. Changes in estimates are reflected in the financial statements in the period in which changes are made and, if material, their effects are disclosed in the notes to the financial statements.

c. Revenue Recognition

Revenue is measured at the fair value of the consideration received or receivable. Revenue is generally accounted on accrual or as they are earned or incurred except in case of significant uncertainty. Revenue from investing / trading in shares, securities etc. is recognized on trade dates on first in first out basis. Revenue from Derivative Instruments & any gains or losses arising from changes in the fair value of derivatives are taken directly to Statement of Profit and Loss, except for the effective portion of cash flow hedges in respect of completed transactions pending settlement process, necessary treatment is given in the accounts for the Profits/ Losses arising from these transactions. Dividend income is accounted for on receipt basis.

d. Financial Instruments

A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

Financial Assets Initial Recognition

The Company recognizes a financial asset in its Balance Sheet when it becomes party to the contractual provisions of the instrument. All financial assets are recognized initially at fair value, plus in the case of financial assets not recorded at fair value through profit or loss (FVTPL), transaction costs that are attributable to the acquisition of the financial asset.

However, trade receivables that do not contain a significant financing component are measured at transaction price.

Subsequent measurement

For subsequent measurement, the Company classifies a financial asset in accordance with the below criteria:

a. Non-derivative financial instruments

i. Financial assets carried at amortized cost A financial asset is subsequently measured at amortized cost if it is held within a business model whose objective is to hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

ii. Financial assets at fair value through other comprehensive income

A financial asset is subsequently measured at fair value through other comprehensive income if it is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. The Company has made an irrevocable election for its investments which are classified as equity instruments to present the subsequent changes in fair value in other comprehensive income based on its business model.

iii. Financial assets at fair value through profit or loss

A financial asset which is not classified in any of the above categories is subsequently fair valued through profit or loss

b. Investment in subsidiaries

Investment in subsidiaries is carried at cost in the separate financial statements.

e. Income taxes Current Tax:

The tax expense for the period comprises current and deferred tax. Tax is recognized in Statement of Profit and Loss, except to the extent that it relates to items recognized in the comprehensive income or in equity. In which case, the tax is also recognized in other comprehensive income or equity.

Deferred Tax:

Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.

f. Property, Plant and Equipment

Property, plant and equipment are stated at cost, less accumulated depreciation and impairment, if any. Costs directly attributable to acquisition are capitalized until the property, plant and equipment are ready for use, as intended by the Management. The Company depreciates property, plant and equipment over their estimated useful lives. Depreciation on all assets of the Company is provided on WDV Method at the rates and manner prescribed in Schedule II to the Companies Act, 2013.

The useful life of items of property, plant and equipment is mentioned below:

Particulars	Years
Motor Car	8 Years
Computers	3 Years

g. Recent Accounting Pronouncements

Minister of Corporate Affairs (“MCA”) notifies new standards or amendments to the existing standard under Companies (Indian Accounting Standards) Rules as issued from time to time on March 31,2024, MCA has not notified any new standards or amendments to the existing standards applicable to the Company.

h. Depreciation

Property, Plant & Equipment are depreciated using the written down value method to allocate their cost, net of their residual values, over their estimated useful lives as prescribed in Schedule II to the Companies Act, 2013. Gains and losses on disposals are determined by comparing proceeds with carrying amount. These are included in profit or loss.

i. Lease Accounting

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the Risks and rewards of ownership to the lessee. All other leases are classified as operating leases. In respect of assets taken on short term operating lease with a lease term of up to 12 months, lease rentals are recognized as an expense in the Statement of Profit and Loss on straight line basis over the lease term unless another systematic basis is more representative of the time pattern in which the benefit is derived from the leased asset; or the payments to the lessor are structured to increase in the line with expected general inflation to compensate for the lessor’s expected inflationary cost increases.

j. Employment Benefits

- Short Term Obligations

Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled wholly within 12 months after the end of the period in which the employees render the related service are recognised in respect of employees’ services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the balance sheet.

- Post-Employment Obligations

The Company operates the following post-employment schemes: Defined Benefit Plans such as Gratuity and defined contribution plans such as provident fund.

- Defined Benefit Plans like Gratuity:

The Company provides for gratuity benefit to its employees (included as part of contribution to provident and other fund in note no -18 employee benefit expenses) which is funded with life insurance corporation of India. Company has followed IND AS 19.

- Defined Contribution Plans like Provident Fund: The Company pays provident fund contributions to publicly administered provident funds as per local regulations. The Company has no further payment obligations once the contributions have been paid. The contributions are accounted for as defined contribution plans and the contributions are recognised as employee benefit expense when they are due. Prepaid contributions are recognised as an asset to the extent that a cash refund or a reduction in the future payments is available.

k. Provisions & Contingent Liabilities

Provision is recognized when there is a present obligation as a result of past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. Disclosure for contingent liability is made when there is a possible obligation or present obligation that may, but probably will not require an outflow of resources. No provision is recognized or disclosure for contingent liability is made when there is a possible obligation or a present obligation and the likelihood of outflow of resources is remote.

l. Impairment of Nonfinancial Assets

An impairment loss is recognised in the Statement of Profit and Loss to the extent, asset’s carrying amount exceeds its recoverable amount. The recoverable amount is higher of an asset’s fair value less cost of disposal and value in use. Value in use is based on the estimated future cash flows, discounted to their present value using pre-tax discount rate that reflects current market assessments of the time value of money and risk specific to the assets.

m. Cash and Cash Equivalents

Cash and Cash equivalents for the purpose of Cash Flow Statement comprise cash and cheques in hand, bank balances, demand deposits with banks where the original maturity is three months or less and other short term highly liquid investments.

n. Cash flow statement

Cash flows are reported using the indirect method, whereby profit / (loss) before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments. The cash flows from operating, investing and financing activities of the Company are segregated based on the available information.

o. Trade & Other Payables

These amounts represent liabilities for services received by the company prior to the end of financial year which are unpaid. The amounts are unsecured and are usually paid within 90 days of recognition. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognised initially at their fair value and subsequently measured at amortised cost using the effective interest method.

p. Segment reporting

The Company operates in only one segment i.e., Capital Market operations, hence segment reporting in accordance with Indian Accounting Standard-108 is not applicable.

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Mar 31, 2019

NOTES TO FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST MARCH 2019

1. General information

Twenty-first Century Management Services Limited is a listed company engaged in investments in Capital Market and Futures & Options segment. The company has a wholly owned subsidiary, Twenty-first Century Shares & Securities Limited which is also engaged in investments in Capital Market and Futures & Options segment. Company''s shares are listed in BSE and NSE.

2. Significant Accounting Policies

a) Basis of preparation of financial statements

The financial statements are prepared under the historical cost basis except for following assets and liabilities which have been measure at fair value:

- Certain Financial Assets & Liabilities (including derivative instruments)

- Defined Benefit Plans Plan Assets

The Financial Statements of the Company have been prepared to comply with the Indian Accounting Standards (''Ind AS''), including the rules notified under the relevant provisions of the Companies'' Act, 2013.

b)Use of Estimates

The preparation of financial statements requires the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities on the date of financial statements and the reported amount of revenues and expenses during the reporting period. Although these estimates are based upon management''s best knowledge of current events and actions, actual results could differ. Differences between the actual results and estimates are recognized in the period in which the results are known or materialized.

c) Revenue Recognition

Revenue is measured at the fair value of the consideration received or receivable. Revenue is generally accounted on accrual or as they are earned or incurred except in case of significant uncertainty. Revenue from investing / trading in shares, securities etc. is recognized on trade dates on first in "first out basis. Revenue from Derivative Instruments & any gains or losses arising from changes in the fair value of derivatives are taken directly to Statement of Profit and Loss, except for the effective portion of cash flow hedges In respect of completed transactions pending settlement process, necessary treatment is given in the accounts for the Profits/Losses arising from these transactions. Dividend income is accounted for on receipt basis.

d) Property, Plant and Equipment

The items of Property, Plant and Equipment are stated at historical cost less depreciation. Historical cost includes expenditure that is directly attributable to the acquisition of the items. Subsequent costs are included in the asset''s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company

Property, Plant & Equipment are depreciated using the written down value method to allocate their cost, net of their residual values, over their estimated useful lives as prescribed in Schedule II to the Companies Act, 2013. Gains and losses on disposals are determined by comparing proceeds with carrying amount. These are included in profit or loss.

g) Tax Expenses

The tax expense for the period comprises current and deferred tax. Tax is recognized in Statement of Profit and Loss, except to the extent that it relates to items recognized in the comprehensive income or in equity. In which case, the tax is also recognized in other comprehensive income or equity.

Current Tax

Current tax assets and liabilities are measured at the amount expected to be recovered from or paid to the taxation authorities, based on tax rates and laws that are enacted or substantively enacted at the Balance sheet date.

Deferred Tax

Deferred tax is recognized on temporary differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit.

h) Employment Benefits Short Term Obligations

Liabilities for wages and salaries, including non-monetary benefits that are expected to be settled wholly within 12 months after the end of the period in which the employees render the related service are recognized in respect of employees'' services up to the end of the reporting period and are measured at the amounts expected to be paid when the liabilities are settled. The liabilities are presented as current employee benefit obligations in the balance sheet.

Post Employment Obligations

The Company operates the following post-employment schemes: Defined Benefit Plans such as Gratuity and defined contribution plans such as provident fund.

Defined Benefit Plans like Gratuity: The Company provides for gratuity, a defined benefit retirement plan covering eligible employees. The gratuity plan provides a lump sum payment to the vested employees at retirement, death, incapacitation or termination of employment, of an amount based on the respective employee''s salary and tenure of employment with the company. The estimates used for provision of Gratuity are as per “IND AS 19 Employee Benefits”.

Defined Contribution Plans like Provident Fund: The Company pays provident fund contributions to publicly administered provident funds as per local regulations. The Company has no further payment obligations once the contributions have been paid. The contributions are accounted for as defined contribution plans and the contributions are recognized as employee benefit expense when they are due. Prepaid contributions are recognized as an asset to the extent that a cash refund or a reduction in the future payments is available.

i) Provisions & Contingent Liabilities

Provision is recognized when there is a present obligation as a result of past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. Disclosure for contingent liability is made when there is a possible obligation or present obligation that may, but probably will not require an outflow of resources. No provision is recognized or disclosure for contingent liability is made when there is a possible obligation or a present obligation and the likelihood of outflow of resources is remote.

j) Impairment of Non Financial Assets

An impairment loss is recognized in the Statement of Profit and Loss to the extent, asset''s carrying amount exceeds its recoverable amount. The recoverable amount is higher of an asset''s fair value less cost of disposal and value in use. Value in use is based on the estimated future cash flows, discounted to their present value using pre-tax discount rate that reflects current market assessments of the time value of money and risk specific to the assets.

k) Trade & Other Payables

These amounts represent liabilities for services received by the company prior to the end of financial year which are unpaid. The amounts are unsecured and are usually paid within 30 days of recognition. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. They are recognized initially at their fair value and subsequently measured at amortized cost using the effective interest method.

I) Borrowing costs

Borrowing costs that are attributable to the acquisition of assets are capitalized as part of cost of the asset. All other borrowing costs are charged to statement of Profit and Loss.

m) Segment reporting

The Company operates in only one segment i.e., Capital Market operations, hence segment reporting in accordance with Accounting Standard-108 is not applicable.

2. Rights, preferences and restrictions attached to shares:

The company has one class of equity shares having face value of Rs.10 per share. Every shareholder is entitled to one vote for every one share held. In the event of liquidation, the equity shareholders shall be entitled to receive remaining assets of the company after distribution of all dues in proportion to their share holdings.

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Mar 31, 2016

1. General information

Twentyfirst Century Management Services Limited is a listed company engaged in investments in Capital Market and Futures & Options segment.. The company has a wholly owned subsidiary which was a trading member of the National Stock Exchange of India Limited. Subsidiary has surrendered its membership card with the NSE.

Company’s shares are listed in BSE and NSE. Trading in shares of the company in NSE was suspended in the year 2001-02, since company didn’t have Company Secretary. This requirement has been since met. The company is following up with NSE for revoking the suspension order.

2. Significant Accounting Policies

a) Basis of preparation of financial statements

The financial statements are prepared under the historical cost convention on an accrual basis and in accordance with the generally accepted accounting principles in India, the applicable Accounting Standards and the relevant provisions of the Companies Act 2013 of India.

b) Use of Estimates

The preparation of financial statements requires the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities on the date of financial statements and the reported amount of revenues and expenses during the reporting period.

Although these estimates are based upon management’s best knowledge of current events and actions, actual results could differ. Differences between the actual results an estimates are recognized in the period in which the results are known or materialized.

c) Revenue Recognition

Revenue Income and Expenditure are generally accounted on accrual or as they are earned or incurred except in case of significant uncertainty. Profit/Loss from trading activity is recognized on trade dates on first in first out basis. In respect of completed transactions pending settlement process, necessary treatment is given in the accounts for the Profits/ Losses arising from these transactions. Dividend income is accounted for on receipt basis.

d) Fixed Assets

Fixed asset is stated at cost less depreciation and impairment losses.

e) Depreciation

Assets are depreciated under the written down value method at the rates prescribed in Schedule II to the Companies Act, 2013 and on the revised carrying amount of the asset, identified as impaired on which depreciation has been provided over the residual life of the respective assets.

f) Investments

Current and Long term investments are stated at cost. Provision for diminution in the value of long term investments is made only if such decline is other than temporary.

g) Current and Deferred tax

Provision for current income tax is made in accordance with the Income tax act 1961. Deferred tax liabilities and assets are recognized at substantively enacted tax rates, subject to the consideration of prudence on timing difference, being the difference between taxable incomes and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. No deferred tax asset has been created on carried forward losses as per Income Tax Act, as there is no reasonable certainty of reversal of the same in one or more subsequent year.

h) Employment Benefits

The Company provides for gratuity, a defined benefit retirement paln covering eligible employees. The gratuity plan provides a lump sum payment to the vested employees at retirement, death, incapacitation or termination of employment, of an amount based on the respective employee’s salary and tenure of employment with the company. The estimates used for provision of Gratuity are not as per “AS 15 - Employee Benefits” issued by ICAI.

Provident fund is a defined contribution scheme and the company has no further obligation beyond the contribution made to the fund. Contributions are charged to profit and loss account in the year in which they accrue.

i) Contingent Liabilities

Provision is recognized when there is a present obligation as a result of past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. Disclosure for contingent liability is made when there is a possible obligation or present obligation that may, but probably will not require an outflow of resources. No provision is recognized or disclosure for contingent liability is made when there is a possible obligation or a present obligation and the likelihood of outflow of resources is remote.

j) Impairment of assets

The carrying amount of assets is reviewed at each Balance Sheet date for indication of any impairment based on internal / external factors. An asset is treated as impaired when the carrying cost of an asset exceeds its recoverable value and impairment loss is charged to the Profit & Loss account. The impairment of loss recognized in the prior accounting period is reversed if there has been a change in estimates of recoverable amount.

k) Current assets, loans & advances

The current assets, Loans and Advances have a value on realization at least equal to the amount at which they are stated in the balance sheet.

l) Borrowing costs

Borrowing costs that are attributable to the acquisition of assets are capitalized as part of cost of the asset. All other borrowing costs are charged to statement of Profit and Loss.

m) Segment reporting

The Company operates in only one segment i.e., Capital Market operations, hence segment reporting in accordance with Accounting Standard-17 is not applicable.

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Mar 31, 2015

A) Basis of preparation of financial Statements

The financial statements are prepared under the historical cost convention on an accrual basis and in accordance with the generally accepted accounting principles in India, the applicable Accounting Standards and the relevant provisions of the Companies Act 2013 of India.

b) Use of Estimates

The preparation of financial statements requires the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities on the date of financial statements and the reported amount of revenues and expenses during the reporting period. Although these estimates are based upon management''s best knowledge of current events and actions, actual results could differ. Differences between the actual results and estimates are recognized in the period in which the results are known or materialized.

c) Revenue Recognition

Revenue Income and Expenditure are generally accounted on accrual or as they are earned or incurred except in case of significant uncertainty. Profit/Loss from trading activity is recognized on trade dates on first in first out basis. In respect of completed transactions pending settlement process, necessary treatment is given in the accounts for the Profits/Losses arising from these transactions. Dividend income is recognized when right to receive the payment is established.

d) Fixed Assets

Fixed asset is stated at cost less depreciation and impairment losses.

e) Depreciation

Assets are depreciated under the written down value method at the rates prescribed in Schedule IInd of the companies Act 2013 and on the revised carrying amount of the asset, identified as impaired on which depreciation has been provided over the residual life of the respective assets.

f) Investments

Current and Long term investments are stated at cost. Provision for diminution in the value of long term investments is made only if such decline is other than temporary.

g) Current and Deferred Tax

Provision for current income tax is made in accordance with the Income Tax Act 1961. Deferred Tax Liabililties and assets are recognized at substantively enacted tax rates, subject to the consideration of prudence on timing difference, being the difference between taxable incomes and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. No deferred tax asset has been created on carried forward losses as per income tax, as there is no reasonable certainty of reversal of the same in one or more subsequent year.

h) Employment Benefits

The Company provides for gratuity, a defined benefit retirement plan covering eligible employees. The gratuity plan provides a lump sum payment to the vested employees at retirement, death, incapacitation or termination of employment, of an amount based on the respective employee''s salary and tenure of employment with the company. The estimates used for provision of Gratuity are not as per "AS 15 - Employee Benefits" issued by ICAI.

Provident fund is a defined contribution scheme and the company has no further obligation beyond the contribution made to the fund. Contributions are charged to profit and loss account in the year in which they accrue.

i) Contingent Liabilities

Provision is recognized when there is a present obligation as a result of past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. Disclosure for contingent liability is made when there is a possible obligation or present obligation that may, but probably will not require an outflow of resources. No provision is recognized or disclosure for contingent liability is made when there is a possible obligation or a present obligation and the likelihood of outflow of resources is remote.

j) Impairment of assets

The carrying amount of assets is reviewed at each Balance Sheet date for indication of any impairment based on internal/ external factors. An asset is treated as impaired when the carrying cost of an asset exceeds its recoverable value and impairment loss is charged to the Profit & Loss account. The impairment of loss recognized in the prior accounting period is reversed if there has been a change in estimates of recoverable amount.

k) Current assets, loans & advances

The current assets, Loans and Advances have a value on realization at least equal to the amount at which they are stated in the balance sheet.

l) Borrowing costs

Borrowing costs that are attributable to the acquisition of assets are capitalized as part of cost of the asset. All other borrowing costs are charged to statement of Profit and Loss.

m) segment reporting

The Company operates in only one segment i.e., Capital Market operations, hence segment reporting in accordance with Accounting Standard-17 is not applicable.

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Mar 31, 2013

A) Basis of preparation of financial Statements

The financial statements are prepared under the historical cost convention on an accrual basis and in accordance with the generally accepted accounting principles in India, the applicable Accounting Standards and the relevant provisions of the Companies Act 1956 of India.

b) Use of Estimates

The preparation of financial statements requires the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities on the date of financial statements and the reported amount of revenues and expenses during the reporting period. Although these estimates are based upon management''s best knowledge of current events and actions, actual results could differ. Differences between the actual results and estimates are recognized in the period in which the results are known or materialized.

c) Revenue Recognition

Revenue Income and Expenditure are generally accounted on accrual or as they are earned or incurred except in case of significant uncertainty. Profit/Loss from trading activity is recognized on trade dates on first in first out basis. In respect of completed transactions pending settlement process, necessary treatment is given in the accounts for the Profits/Losses arising from these transactions. Dividend income is recognized when right to receive the payment is established.

d) Fixed Assets

Fixed asset is stated at cost less depreciation and impairment losses.

e) Depreciation

Assets are depreciated under the written down value method at the rates prescribed in Schedule XIV to the companies Act and on the revised carrying amount of the asset, identified as impaired on which depreciation has been provided over the residual life of the respective assets.

f) Investments

Current investments are carried at cost. Long term investments are stated at cost. Provision for diminution in the value of long term investments is made only if such decline is other than temporary.

g) Current and Deferred Tax

Provision for current income tax is made in accordance with the Income tax act 1961. Deferred Tax Liabilities and assets are recognized at substantively enacted tax rates, subject to the consideration of prudence on timing difference, being the difference between taxable incomes and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. No deferred tax asset has been created on carried forward losses as per income tax, as there is no reasonable certainty of reversal of the same in one or more subsequent year.

h) Employment Benefits

No provision for gratuity has been made in accounts, however in the event of any employee leaving the services by reason of death / incapability / retirement or resignation, gratuity for the period of the services shall be paid and accounted for on cash basis.

No provision for leave encashment has been made in the accounts. However encashment of leave can be availed by the employee for balance in the earned account as of preceding financial year.

All carry forward earned leaves with maximum limit of 10 days are available for a ailment but not for encashment.

Provident fund is a defined contribution scheme and the company has no further obligation beyond the contribution made to the fund. Contributions are charged to profit and loss account in the year in which they accrue.

i) Contingent Liabilities

Provision is recognized when there is a present obligation as a result of past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. Disclosure for contingent liability is made when there is a possible obligation or present obligation that may, but probably will not require an outflow of resources. No provision is recognized or disclosure for contingent liability is made when there is a possible obligation or a present obligation and the likelihood of outflow of resources is remote.

j) Impairment of assets

The carrying amount of assets is reviewed at each Balance Sheet date for indication of any impairment based on internal/external factors. An asset is treated as impaired when the carrying cost of an asset exceeds its recoverable value and impairment loss is charged to the Profit & Loss account. The impairment of loss recognized in the prior accounting period is reversed if there has been a change in estimates of recoverable amount.

k) Current assets, loans & advances

The current assets, Loans and Advances have a value on realization at least equal to the amount at which they are stated in the balance sheet.

I) Borrowing costs

Borrowing costs that are attributable to the acquisition of assets are capitalized as part of cost of the asset. All other borrowing costs are charged to statement of Profit and Loss.

m) segment reporting

The Company operates in only one segment i.e., Capital Market operations, hence segment reporting in accordance with Accounting Standard-17 is not applicable.

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Mar 31, 2012

A) Basis of preparation of financial Statements

The financial statements are prepared under the historical cost convention on an accrual basis and in accordance with the generally accepted accounting principles in India, the applicable Accounting Standards and the relevant provisions of the Companies Act 1956 of India.

b) Use of Estimates

The preparation of financial statements requires the management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities on the date of financial statements and the reported amount of revenues and expenses during the reporting period. Although these estimates are based upon management''s best knowledge of current events and actions, actual results could differ. Differences between the actual results and estimates are recognized in the period in which the results are known or materialized.

c) Revenue Recognition

Revenue Income and Expenditure are generally accounted on accrual or as they are earned or incurred except in case of significant uncertainty. Profit/Loss from trading activity is recognized on trade dates on first in first out basis. In respect of completed transactions pending settlement process, necessary treatment is given in the accounts for the Profits/Losses arising from these transactions. Dividend income is recognized when right to receive the payment is established.

d) Fixed Assets

Fixed asset is stated at cost less depreciation and impairment losses.

e) Depreciation

Assets are depreciated under the written down value method at the rates prescribed in Schedule XIV to the companies Act and on the revised carrying amount of the asset, identified as impaired on which depreciation has been provided over the residual life of the respective assets.

f) Investments

Current investments are carried at cost. Long term investments are stated at cost. Provision for diminution in the value of long term investments is made only if such decline is other than temporary.

g) Current and Deferred Tax

Provision for current income tax is made in accordance with the Income tax act 1961.

Deferred Tax Liabilities and assets are recognized at substantively enacted tax rates, subject to the consideration of prudence on timing difference, being the difference between taxable incomes and accounting income that originate in one period and are capable of reversal in one or more subsequent periods. No deferred tax asset has been created on carried forward losses as per income tax, as there is no reasonable certainty of reversal of the same in one or more subsequent year.

h) Employment Benefits

No provision for Gratuity has been made in accounts, however in the event of any employee leaving the services by reason of death/ incapability/ retirement or resignation, gratuity for the period of the services shall be paid and accounted for on cash basis.

No provision for leave encashment has been made in the accounts. However encashment of leave can be availed by the employee for balance in the earned account as of preceding financial year. All carry forward earned leaves with maximum limit of 10 days are available for availment but not for encashment.

Provident fund is a defined contribution scheme and the company has no further obligation beyond the contribution made to the fund. Contributions are charged to profit and loss account in the year in which they accrue.

i) Contingent Liabilities

Provision is recognized when there is a present obligation as a result of past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation.

Disclosure for contingent liability is made when there is a possible obligation or present obligation that may, but probably will not require an outflow of resources. No provision is recognized or disclosure for contingent liability is made when there is a possible obligation or a present obligation and the likelihood of outflow of resources is remote.

j) Impairment of assets

The carrying amount of assets is reviewed at each Balance Sheet date for indication of any impairment based on internal/ external factors. An asset is treated as impaired when the carrying cost of an asset exceeds its recoverable value and impairment loss is charged to the Profit & Loss account. The impairment of loss recognized in the prior accounting period is reversed if there has been a change in estimates of recoverable amount.

k) Current assets, loans & advances

The current assets, Loans and Advances have a value on realization at least equal to the amount at which they are stated in the balance sheet.

I) Borrowing costs

Borrowing costs that are attributable to the acquisition of assets are capitalized as part of cost of the asset. All other borrowing costs are charged to statement of Profit and Loss.

m) Segment reporting

The Company operates in only one segment i.e., Capital Market operations, hence segment reporting in accordance with Accounting Standard -17 is not applicable.

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Mar 31, 2010

A) Basis of Accounting

The Companys accounts are maintained under the historical cost convention on an accrual basis. These financial statements comply with relevant provisions of the Companies Act, 1956, and the mandatory accounting standards issued by the Institute of Chartered Accountants of India.

b) Revenue Recognition

i) Profit/Loss from trading activity is recognised on trade dates on first in first out basis. In respect of completed transactions pending settlement process, necessary treatment is given in the accounts for the Profits/Losses arising from these transactions.

ii) Dividend income is accounted for on receipt basis.

c) Fixed Assets

Assets are capitalised at cost inclusive of cost of installation and incidental charges if any.

d) Depreciation

Assets are depreciated under the written down value method at the rates prescribed in Schedule XIV to the companies Act.

e) Investments

Investments of the Company are valued at cost.

f) Income Tax

In view of the brought forward losses no tax provision has been made for the Year ended 31st March, 2010. The Company is disputing tax liability arising out of addition of Rs. 1,292.48 lakhs made by the Income-tax Officer for the assessment year 2003-04 and the matter is pending before the Honble High Court of Madras. No provision towards tax liability is considered necessary as this addition, which is disputed, has not resulted in any additional tax liability for the assessment year 2003-04.

g) Deferred Tax (AS-22)

Deferred Tax Liabililty has been created against unabsorbed depreciation as per (AS -22), accordingly an amount of Rs. 0.09 Lacs has been charged to Profit and Loss Account. Deferred tax asset has not been created against carried forward losses and unabsorbed depreciation, since there is no virtual certainty supported by convincing evidence with the organisation, that sufficient future taxable income will be available against which such deferred tax assets can be realised. h) Gratuity and Employment Benefits

No provision for Gratuity has been made in accounts, however in the event of any employee leaving the services by reason of death or incapability, gratuity for the period of the services shall be paid and accounted for on cash basis.

The company does not have a policy of leave encashment in respect of its employees and no provision for encashment of unavailed leave on their retirement or separation.