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NOTES ON ACCOUNTS
   
12.

Disclosure of details pertaining to related party transactions entered into during the year in terms of Accounting Standard - 18 "Related Party Disclosures" issued by the Institute of Chartered Accountants of India:
 
a )

List of Related Parties
(As identified and certified by the management)

i )
Under Common Control
MGF Services Limited, India Lease Development Limited, Jayabharat Credit Limited, Bahubali Services Limited, Janata Cinema Properties and Finance Limited, MGF Securities Ltd, Upper India Hire Purchase Association Ltd, Grosvenor Estate (P) Ltd.
ii )
Enterprises over which the key management pesonnel is able to exercise significant influence.
 Gee Gee Holdings Ltd, NAP Sales (P) Ltd., Ved Prakash Gupta Charitable Trust, Sunder Dass Aggarwal Charitable Trust, Card Service India Ltd. Ram Prakash & Co. (P) Ltd..
iii )
Key Management Personnel
Shri Rajiv Gupta, Shri Arun Mitter, Shri Bharat Kumar, Shri Sharad Aggarwal, Shri O.N. Aggarwal, Smt Arti Gupta & Shri Abhiram Seth.
   
b ) Details of transactions entered into with related parties:
 
(Rs. In lacs)
Particulars
Under Common Control
Enterprises over which key management personnel is able to exercise influence
Key Management Personnel
ICD Received
759.00
1.49
-
Commission Paid
-
-
-
Interest paid on ICDs
28.68
12.52
-
Director's Remuneration
-
-
19.92
Director's Meeting Fees
-
-
1.30
Service Charges
-
0.17
-
Rent Received
-
-
-
Dividend received
17.38
-
-

Outstanding Balance as on 31.03.2007
 
 
 

-Dues receivable (including advances)
175.41
28.84
.
-Amount payable (including capital advance)
265.15
-
-
-Inter Corporate Deposits Payable
234.42
40.00
-
   
13.

Assets given under Finance Lease from 1st April, 2001 In Accordance With The Accounting Standard - 19, "Leases", Issued By The Institute of Chartered Accountants of India, With Contractual Maturities In Lease Financing Activities (Including Hire Purchase Agreements With An Option To The Hirer To Acquire The Assets) Are Set Out Below :-
   
 
(Rs. in Lacs)
  Gross Investment in Finance Lease Unearned Financial Income Present Value of future lease /Hire purchase vehicles (3)= (1) - (2)
a) Lease Receivable      
  (in respect of transactions after 01.04.2001)      
  - Not later than one year
-
-
-
  - Later than one but not later than five years
-
-
 
  - Later than five years
-
    
 
Total
-
-
-
  Less : Provision for Uncollectible / receivables
-
-
 
 
Total
-
-
-
b) Hire Purchase Receivables      
  (i) (in respect of transactions after 01.04.2001)
 
 
 
  - Not later than one Year
-
-
-
  - Later than one but not later than five years
45.62
1.39
44.23
  - Later than five years
-
-
-
 
Total
45.62
1.39
44.23
  (ii) Less : Provision for Collectible Lease/H.P. Receivables
44.23
-
44.23
 
Total (i-ii)
1.39
1.39
-
         
c)
In Compliance with Accounting Standard - 19 relating to "Accounting for Leases" the Company has given the following assets on lease rentals to various parties. The total rental income received works out to Rs1396.42 lacs
 
Assets
Cost
 Depreciation
Future lease rentals (for a period of one year)
Plant & Machinery &
137.03
8.29
-
Factory Land & Building
(262.03)
(8.31)
(36.00)
Land & building
2048.83
36.00
1434.89
 
(2048.83)
(37.85)
(1405.43)
  (Previous year's figure given in bracket)


   
   
14 Earnings Per Share (E.P.S.)
   
 
Calculation of Basic/Diluted E.P.S  
a) Net profit for the year attributed to Equity shareholders
Rs.19,88,12,492
b) Weighted Average Number of Equity Share
Rs. 1,96,63,318
c) Basic Earnings per Share
Rs.10.27
d) Diluted Earnings per share
Rs.10.27
e) Normal Value Per Share
Rs. 10/-
   
15.
Additional particulars as prescribed by the Reserve Bank of India (RBI) in terms of DNBS (PD) CC No.25/02-02/2002-03 dated 29-03-2003, are given here under :
 
 
1)
Loan and advances avalied by the NBFC's Inclusive of Interest accrued there on but not paid :
(Rs. in Lacs)
 
Amount Oustanding
Amount Overdue
a) Debentures :    
- Secured
-
-
- Unsecured (Other than falling within the meaning of Public Deposits)
-
-
b) Deferred Credit
-
-
c) Term Loans/Working Capital
90.34
-
d) Inter Corporate Loans and Borrowings
283.71
-
e) Commercial Paper
-
 
f) Public Deposits including accrued interest
-
-
g) Other Loans (specify nature) from LIC
68.17
-
   
2)
Break up of (1) (f) above (Outstanding Public Deposits inclusive of interest accrued there on but not paid)    
a) In the form of Unsecured Debentures
-
-
b) In the form of Partly Secured Debentures i.e. Debentures where there is a shortfall in the value of security
-
-
c) Other Public Deposits
-
-
   
3) Assets side:
   
 
Break up of Loans and Advances including bills receivables (other than those included in (4) below):    
a) Secured
0.00
-
b) Unsecured (net of provisions)
328.76
-
   
4)
Break up of Leased Assets and Stock on Hire and hypothecation loans counting towards EL/HP activities    
i) Lease Assets including Lease Rentals under Sundry Debtors:
a) Financial Lease  
 
b) Operating Lease
32.51
-
ii) Stock on Hire including Lease Rental under Sundry Debtors:
a) Assets on Hire
678.53
-
b) Repossessed Assets
90.09
-
c) Hypothecation loans counting towards EL/HP activities:    
d) Loans where assets have been repossessed
-
  
e) Loans other than (a) above
-
  
iii) Hypothecation Loans counting towards EL/HP activities:
a) Loans where assets have been repossessed
-
-
b) Loans other than (a) above
-
-
   
             
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