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Naga Dhunseri Group Ltd. के अकाउंट के लिये नोट
Mar 31, 2025
10 Provisions and contingences
The Company recognises a provision when there is present obligation as a result of a past event that probably requires an
outflow of resources and a reliable estimate can be made of the amount of the obligation. The amount recognised as a
provision is the best estimate of the consideration required to settle the present obligation at the end of the reporting period,
taking into account the risks and uncertainties surrounding the obligation.
In cases where the available information indicates that the loss on the contingency is reasonable possible but the amount of
loss cannot be reasonably estimated, a disclosure is made in the financial statements.
Provisions are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates. If it is no longer
probable that the outflow of resources would be required to settle the obligation, the provision is reversed.
Contingent liabilities are disclosed when there is a possible obligation arising from past events, the existence of which will
be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control
of the Company or a present obligation that may arise from past events but probably will not require an outflow of
resources to settle the obligation.
When there is a possible obligation or a present obligation in respect of which likelihood of outflow of resource is remote,
no provision or disclosure is made. Contingent assets are neither recognised nor disclosed in the financial statements.
11 Leases
The Company as lessor
Leases in which the Company does not transfer substantially all the risks and rewards incidental to ownership of an asset
are classified as operating leases. Rental income arising is accounted for on a straight-line basis over the lease terms.
Contingent rents are recognised as revenue in the period in which they are earned.
The company as lessee
The Company has adopted Ind-AS 116 -Leases
At the inception of the contract, the Company assesses whether a contract contains a lease. A contract is, or contains, a
lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for
consideration. For the purpose of identifying if a contract contains a lease, the Company assesses whether:
i) the contract involves the use of an identified asset
ii) the Company has substantially all of the economic benefits from use of the asset through the period of the lease, and
iii) the Company has the right to direct the use of the asset.
At the date of commencement of the lease, the Company recognizes a right-of-use asset (âROUâ) and a corresponding
lease liability for all lease arrangements in which it is a lessee, except in case of low value leases and short term leases (a
term of less than twelve months) wherein the lease payments are recognized as an operating expense on a straight-line
basis over the term of the lease.
The lease liability is initially measured at amortized cost at the present value of the future lease payments. The lease
payments are discounted using the interest rate implicit in the lease or, if not readily determinable, using the incremental
borrowing rates.
Certain lease arrangements includes the options to extend or terminate the lease before the end of the lease term. ROU
assets and lease liabilities includes these options when it is reasonably certain that they will be exercised. Lease liabilities
are remeasured with a corresponding adjustment to the related right of use asset if the Company changes its assessment if
whether it will exercise an extension or a termination option. The right-of-use assets are initially recognized at cost. Cost
includes the initial amount of the lease liability adjusted for any lease payments made at or prior to the commencement
date of the lease plus any initial direct costs less any lease incentives. They are subsequently measured at cost less
accumulated depreciation and impairment losses.
Right-of-use assets are depreciated from the commencement date on a straight-line basis over the useful life of the
underlying asset or the lease term whichever is shorter. Right of use assets are tested for impairment whenever events or
changes in circumstances indicate that their carrying amounts may not be recoverable. Lease liability and ROU asset have
been separately presented in the Balance Sheet and lease payments have been classified as financing cash flows.
12 Taxes on Income
i) Current Tax
Current tax is measured at the amount expected to be paid to the tax authorities in accordance with the Income Tax
Act, 1961 in respect of taxable income for the year and any adjustment to the tax payable or receivable in respect of
previous years.
ii) Deferred Tax
Deferred tax is provided on temporary differences at the reporting date between the tax bases of assets and
liabilities and their carrying amounts for financial reporting purpose.
Deferred tax liabilities are recognised for all taxable temporary differences, except:
Where the deferred tax liability arises from the initial recognition of an asset or liability in a transaction that is not a
business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit and
loss.
Deferred tax assets are recognised for all deductible temporary differences, the carry forward of unused tax credits
and any unused tax losses. Deferred tax assets are recognised to the extent that it is probable that taxable profit will
be available against which the deductible temporary differences, and the carry forward of unused tax credits and
unused tax losses can be utilised, except:
Where the deferred tax asset relating to the deductible temporary differences arises from the initial recognition of an
asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither
the accounting profit nor taxable profit and loss.
The carrying amount of deferred tax asset is reviewed at each reporting date and reduced to the extent that it is no
longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be
utilised. Unrecognised deferred tax assets are reassessed at each reporting date and are recognised to the extent
that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the
asset is realised or the liability is settled, based on tax rates and tax laws that have been enacted or substantively
enacted at the reporting date.
Deferred tax relating to items recognised outside Profit & Loss is recognised outside Profit & Loss (either in other
comprehensive income or in equity). Deferred tax items are recognised in correlation to the underlying transaction
either in OCI or other equity.
Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax
assets against current tax liabilities and the deferred taxes relate to the same taxable entity and the same tax
authority.
13 Earnings per share
The Company reports basic and diluted earnings per equity share. Basic earnings per equity share have been computed by
dividing net profit / loss attributable to the equity shareholders for the year by the weighted average number of equity
shares outstanding during the year. Diluted earnings per equity share have been computed by dividing the net profit
attributable to the equity shares holders after giving impact of dilutive potential equity shares for the year by the weighted
average number of equity shares and dilutive potential equity shares outstanding during the year, except where the results
are anti-dilutive.
14 Segment reporting
Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating
Decision Maker (CODM). The Managing Director of the Company has been identified as the CODM as defined by Ind-AS
108 Operating Segments, who assesses the financial performance and position of the Company and makes strategic
decisions.
The Company is dealing primarily in investment of shares and hence it is single segment company and segment reporting
is not applicable on the Company.
15 Cash Flow Statement
Cash flows are reported using the indirect method, prescribed in IND AS -7 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 flow from operating, financing and investing activities of the company are segregated based
on the available information.
a) Description of nature and purpose of each reserve:
General reserve
General reserve is created from time to time by way of transfer profits from retained earnings for appropriation
purposes. General reserve is created by a transfer from one component of equity to another and is not an item of
other comprehensive income.
Retained earnings
Retained earnings are the profits that the Company has earned till date, less any transfer to general reserves,
dividends and other distributions made to the shareholders.
Statutory reserve
As per Section 45-IC(1) of the Reserve Bank of India Act, 1934, every non-banking financial company shall create a
reserve fund and transfer therein a sum not less than twenty per cent of its net profit every year as disclosed in the
profit and loss account and before any dividend is declared.
FVOCI equity investment reserve
The Company has elected to recognise changes in the fair value of investment in equity shares in other
comprehensive income. These changes are accumulated within the FVTOCI investment reserve within equity. The
Company will transfer amounts from the said reserve to retained earnings when the relevant equity shares are de¬
recognised.
The discount rate is based on the prevailing market yield of Indian government securities as at the balance sheet
date for the estimated terms of the obligation.
An amount of '' 0.54 lakhs (previous year '' 0.52 lakhs) pertaining to compensated absences is recognised as an
expense and included in "Employee benefits expense" in Note 27.
c Defined benefit plan: Gratuity
Gratuity scheme - This is an defined benefit plan and it entitles an employee, who has rendered atleast 5 years of
continuous service, to receive one-half month''s salary for each year of completed service at the time of
retirement/exit.
i) On normal retirement / early retirement / withdrawal / resignation: As per the provisions of the Payment of
Gratuity Act, 1972 with vesting period of 5 years of service.
ii) On death in service: As per the provisions of the Payment of Gratuity Act, 1972 without any vesting period.
Gratuity payable to employee in case (i) and (ii), as mentioned above, is computed as per the Payment of Gratuity
Act, 1972 except the Company does not have any limit on gratuity amount
The most recent actuarial valuation of plan assets and the present value of the defined benefit obligation for gratuity
were carried out as at 31 March 2024 The present value of the defined benefit obligations and the related current
service cost and past service cost, were measured using the Projected Unit Credit (PUC) Actuarial Method.
The Company has a defined benefit gratuity plan in India governed by the Payment of Gratuity Act, 1972. It entitles
an employee who has rendered at least 5 years of continuous service, to gratuity at the rate of 15 days wages for
every completed year of service or part thereof in excess of 6 months, based on the rate of wages last drawn by
the employee concerned.
(i) Reconciliation of the net defined benefit liability
The following table shows a reconciliation from the opening balances to the closing balances for the net defined
benefit liability and its components
The Company is exposed to a number of risks in the defined benefit plans. Most significant risks pertaining to
defined benefits plans and management estimation of the impact of these risks are as follows:
a) Discount Rate Risk : The defined benefit obligation calculated uses a discount rate based on government
bonds. If bond yields fall, the defined benefit obligation will tend to increase.
b) Salary Growth Risk : Higher than expected increases in salary will increase the defined benefit obligation
c) Demographic Risk : This is the risk of variability of results due to unsystematic nature of decrements that
include mortality, withdrawal, disability and retirement. The effect of these decrements on the defined benefit
obligation is not straight forward and depends upon the combination of salary increase, discount rate and
vesting criteria. It is important not to overstate withdrawals because in the financial analysis the retirement
benefit of a short career employee typically costs less per year as compared to a long service employee.
36 Financial instruments - Fair values and risk management
(i) Valuation principles
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly
transaction in the principal (or most advantageous) market at the measurement date under current market
conditions (i.e., an exit price), regardless of whether that price is directly observable or estimated using a
valuation technique. In order to show how fair values have been derived, financial instruments are classified
based on a hierarchy of valuation techniques, as explained below:
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the
fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement
as a whole:
Level 1 - Quoted prices in an active market (level 1): This level of hierarchy includes financial assets that are
measured by reference to quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2 - Valuation techniques with observable inputs (level 2): This level of hierarchy includes financial assets and
liabilities, measured using inputs other than quoted prices included within level 1 that are observable for the
asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices).
Level 3 - Valuation techniques with significant unobservable inputs (level 3): This level of hierarchy includes financial
assets and liabilities measured using inputs that are not based on observable market data (unobservable
inputs). Fair values are determined in whole or in part, using a valuation model based on assumptions that
are neither supported by prices from observable current market transactions in the same instrument nor are
they based on available market data. This level of hierarchy includes Companyâs investments in equity
shares which are unquoted or for which quoted prices are not available at the reporting dates.
Significant estimates
The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. The
Group uses its judgement to select a variety of methods and make assumptions that are mainly based on market conditions
existing at the end of each reporting period
37 Financial risk management
Introduction and risk profile
The Company is a Non Banking Financial Company registered with Reserve Bank of India.
The Company''s audit committee oversees how management monitors compliance with the Companyâs risk management
policies and procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by
the Company. The audit committee is assisted in its oversight role by internal audit. Internal audit undertakes both
regular and ad hoc reviews of risk management controls and procedures, the results of which are reported to the audit
committee.
Credit risk
Credit risk is the risk of financial loss to the Company if a counterparty to a financial instrument fails to meet its
contractual obligations and arises partially from the investments.
Credit risk is being managed using a set of credit norms and policies. The Company has defined roles and
responsibilities for originators and approvers. All credit exposure limits are approved by Board of Directors. The Company
follows a process of time-to-time revisiting the credit policy and processes, on the basis of experience and feedback.
The Company has categorised all its financial assets at low credit risks on account of no past trends of defaults by any
parties. Therefore, the provision for expected credit loss has been made as per the Reserve Bank of India''s prudential
norms at 0.40% of the loan assets (which are not credit impaired)
The carrying amount of financial assets represent the maximum credit risk exposure. The maximum exposure to credit
risk at the reporting was:
Credit risk relating to cash and cash equivalent and bank deposits is managed by only accepting banks and financial
institution counterparties after evaluating parameters like capital adequacy, non- performing assets, profitability and
liquidity ratios and net worth and by diversifying bank deposits in different banks across the country.
ii. Liquidity risk
Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its
financial liabilities that are settled by delivering cash or another financial asset. The Companyâs approach to
managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they
are due, under both normal and stressed conditions in a timely manner, without incurring unacceptable losses or
risking damage to the Companyâs reputation.
The Companyâs primary sources of liquidity include cash and bank balances, deposits, investment in mutual funds and
cash flow from operating activities. As at 31 March 2025, the Company had a working capital of '' 8,765.66 lakhs (31
March 2024: '' 7,461.47 lakhs ) including cash and cash equivalent of '' 132.41 lakhs (31 March 2024: '' 459.21 lakhs ).
Consequently, the Company believes its revenue, along with proceeds from financing activities will continue to provide
the necessary funds to cover its short term liquidity needs.
iii) Market risk
Market risk is the risk that changes in market prices such as foreign exchange rates, interest rates and equity
prices, which will affect the Companyâs income or the value of its holdings of financial instruments. The objective
of market risk management is to manage and control market risk exposures within acceptable parameters, while
optimising the return.
a) Foreign currency risk
Foreign Currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate
because of changes in foreign exchange rates. The Company is not exposed to foreign currency risk as the
Company does not have receivables or payables in foreign currency.
b) Interest rate risk
Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of
changes in market interest rates. The Company is not exposed to interest rate risk from the external borrowings
that are used to finance their operations.
c) Market price risk
The Company is mainly exposed to the price risk due to its investment in mutual funds and quoted equity shares.
The price risk arises due to uncertainties about the future market values of these investments. The Company has
laid policies and guidelines which it adheres to in order to minimise price risk arising from investments in mutual
funds and equity shares.
iv) Legal and operational risk
a) Legal Risk
Legal risk is the risk relating to losses due to legal or regulatory action that invalidates or otherwise precludes
performance by the end user or its counterparty under the terms of the contract or related netting agreements.
There is currently no legal risk on the company.
b) Operational risk
Operational risk framework is designed to cover all functions and verticals towards identifying the key risks in
the underlying processes. The framework, at its core, has the following elements:
1. Well defined Governance Structure.
2. Regular workshops and training for enhancing awareness and risk culture.
3. Documented Operational Policy.
38 Capital management
The Company actively manages it''s capital base to maintain adequacy of capital to cover risks inherent to it''s business.
The objective is to maintain appropriate levels of capital to support it''s business strategy taking into account the
regulatory, economic and commercial environment . As a Non Banking Finance Company , the R.B.I requires the
Company to maintain a minimum capital to risk weighted assets ratio ("CRAR") consisting of Tier I and Tier II capital of
15% of aggregate risk weighted assets. The Company endeavours to maintain a higher capital base than the mandated
regulatory capital at all times.
For the purpose of Company''s capital management, capital includes issued equity share capital, other equity reserve less
cash and cash equivalents. The primary objective of capital management is to maintain an efficient capital structure to
reduce the cost of capital and to maximize shareholder''s values.
40 Commitments and contingencies
The Company has no contingent liability as at March 31, 2025 and March 31, 2024
The Company has no commitments as at March 31, 2025 and March 31, 2024
41 Operating segment
The Board of Directors of the Company takes decision in respect of allocation of resources and assesses the
performance basis the reports/ information provided by functional heads and is thus considered to be chief operating
decision maker.
The Company is engaged in the business of holding investments in various entities within the group and investing funds
into other relevant securities with the objective to earn reasonable return. Considering the nature of companyâs business
and operations, there are no separate reportable segments (business and/or geographical) in accordance with the
requirements of In AS 108 âOperating segmentâ and hence, there are no additional disclosures to be provided other than
those already provided in the financial statements.
42 Corporate social responsibility expenditure
Disclosure in respect of CSR expenditure under section 135 of the Companies Act, 2013 and rules thereon
43 Expenditure in foreign currency
The Company has not incurred any expenditure in foreign currency for the year ended March 31, 2025 and
March 31, 2024
44 Leases
As lessee
Right of Use and Lease liability recognised in the financial statement represents the office premises
The Lease is for period ranging from 03 years to 99 years
The following table lets out a maturity analysis of lease payment, showing undiscounted lease payments to be made
after the reporting date.
46 Other Statutory Information
a. The Company has not been declared as wilful defaulter by any bank or financial institution or other lender.
b. All immovable properties in the books of the Company are held in it''s name. There is no proceeding under Benami
Transactions (Prohibition) Act, 1988 against the Company as on date.
c. The Company has not done any revaluation of it''s Plant, Property & Equipments in current or previous financial
year
d. The Company does not have any charges or satisfaction which is yet to be registered with ROC (Register of
Companies) beyond the statutory period.
e. The Company does not trade in goods or services and therefore does not have any trade receivable or payable in
current or previous financial year.
f. The Company does not have any intangible asset under development in current or previous financial Year
g. All transactions done by the Company during current or previous financial year have been duly recorded in it''s
books of accounts.
h. The Company has not done any transaction with struck off companies under section 248 of the companies Act,
2013 during current or previous financial year.
i. The Company has not entered into any scheme of arrangement covered under section 230 to 237 of The
Companies Act, 2013
j. No fund have been advanced or loaned or invested (either from borrowed funds or share premium or any other
sources or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities
(âIntermediariesâ) with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend
or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries).
k. The Company has not received any fund from any party(s) (Funding Party) with the understanding that the
Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of
the Company (âUltimate Beneficiariesâ) or provide any guarantee, security or the like on behalf of the Ultimate
Beneficiaries.
l. The company has fully complied with the number of layers prescribed under Clause (87)of Section 2 of the Act
read with Companies (Restriction of number of layers)Rules 2017 .
m. The Company has not traded or invested in Crypto Currency or Virtual Currency during current or previous financial
year
47 Information as per RBI Circulars
a. Disclosure as per Master Direction - Reserve Bank of India (Non-Banking Financial Company - Scale Based
Regulation) Directions, 2023 dated 19 October, 2023.
i) As per the above mentioned direction issued by the Reserve Bank of India NBFCs that are part of a common
Group or are floated by a common set of promoters shall be viewed on consolidated basis for RBI
categorisation and compliance purpose and accordingly the following three NBFC''s companies are controlled
by the same group of promoter whose assets value is more than Rs. 1,000 crore as on 31st March,2025 and
all disclosure are accordingly has been given:
1) Dhunseri Investment Limited ( RBI Reg. No: 05.06909 dated 15th July, 2011)
2) Mint Investments Limited ( RBI Reg. No: 05.02262 dated 16th May, 1998)
3) Naga Dhunseri Group Limited ( RBI Reg. No:05.01813 dated 13th April, 1998)
ii) The company has not obatined any registration from any financial sector regulartors during the current finncial
year, hence the same is not applicable to the company.
iii) No penalty has been levied on the company by any regulators.
iv) The company has subsidiary nor any joint venture operation, but the company has an associate company
namely M/s. Dhunseri Investments Limited which also engaged in the NBFC''s business in India.
v) The company has no dealing or operations in derivatives and Interest rate Swaps / Forward Rate Agreements
hence no disclosure is applicable to the company.
vi) Maturity Pattern of assets and liability of the company is given in Note - 45.
vii) No prior period adjsutment has been made in the current or previous financial year.
viii) The company has not made any excess exposures than the prudential exposure norms for granting the loans
during the year.
ix) The company has not given any secured loan during the current or 31-Mar-2025
x) The company has no non performing assets "NPA" during the current or 31-Mar-2025 hence no disclosure for
NPA has been made in the financials.
b. The company not being a primary dealer in Government Securities, disclosure requirements as stated in Circular No
RBI/IDMD/2016-17/29 (Master Direction IDMD.PDRD.01/03.64.00/2016-17) dated July 1, 2016 and updated
thereafter, are not applicable.
c. The company has not done any securitisation of assets during current or previous financial year. Therefore
disclosure requirements as stated in circular no RBI/DOR/2021-22/85 (DOR.STR.REC.53/21.04.177/2021-22) dated
September 24, 2021 and amended thereafter are not applicable.
d. No loan or non-performing asset has been transferred to or from the company in current or previous financial year.
Therefore disclosure requirements as stated in Circular No RBI/DOR/2021-22/86 (DOR.STR.REC.51/21.04.048/2021-
22) dated September 24, 2021 are not applicable
48 Previous year figures are regrouped and / or rearranged to confirm to current years presentation.
Signatories to Notes 1 to 48
For and on behalf of the Board of Directors of
Naga Dhunseri Group Ltd.
CIN - L01132WB1918PLC003029
Prabhat Kumar Dhandhania, FCA, Partner H. P. Bhuwania C.K.Dhanuka
Membership No: 052613 Chief Executive Officer Chairman
For and on behalf of (DIN:00005684)
Dhandhania & Associates B L d.
Chartered Accountants Sakshi Agarwal '' ana
Firm Registration No. 316052E Company Secretary & irecor
Place : Kolkata Compliance Officer (DIN:00057273)
Dated : 23rd May, 2025 (ACS 75774) Ayush Beriwala
Chief Financial Officer
ANNUAL REPORT 143
Mar 31, 2024
a) Description of nature and purpose of each reserve:General reserve
General reserve is created from time to time by way of transfer profits from retained earnings for appropriation purposes. General reserve is created by a transfer from one component of equity to another and is not an item of other comprehensive income.
Retained earnings are the profits that the Company has earned till date, less any transfer to general reserves, dividends and other distributions made to the shareholders.
As per Section 45-IC(1) of the Reserve Bank of India Act, 1934, every non-banking financial company shall create a reserve fund and transfer therein a sum not less than twenty per cent of its net profit every year as disclosed in the profit and loss account and before any dividend is declared.
FVTOCI Equity investment reserve
The Company has elected to recognise changes in the fair value of investment in equity shares in other comprehensive income. These changes are accumulated within the FVTOCI investment reserve within equity. The Company will transfer amounts from the said reserve to retained earnings when the relevant equity shares are derecognised.
Note: Transactions relating to dividend paid or received were on the same terms and conditions that applied to other shareholders. Hence, dividend paid or received to and from subsidiary, associates and entities on which KMP(s) have significant control are not shown as related party transactions.
Transactions related to sale of assets are based on independent valuation report. Transactions related to acquisition of investments are based on par value of shares. Transactions relating to rental and leave & licence fees are as per related agreements. All other transactions are made on normal commercial terms and conditions.
All related party transactions are reviewed by the Audit Committee of the Company.
All outstanding balances are unsecured and are receivable / repayable in cash.
a. Defined contribution plans:
The Company makes contributions, determined as a specified percentage of the employee salaries in respect of qualifying employees towards provident fund, which is a defined contribution plan. The amount recognised as an expense towards contribution to provident fund for the year aggregated to '' 5.60 lakhs (31 March 2023: '' 5.28 lakhs)
The discount rate is based on the prevailing market yield of Indian government securities as at the balance sheet date for the estimated terms of the obligation.
An amount of '' 0.52 lakhs (previous year '' 2.27 lakhs) pertaining to compensated absences is recognised as an expense and included in "Employee benefits expense" in Note 26.
c Defined benefit plan: Gratuity
Gratuity scheme - This is an defined benefit plan and it entitles an employee, who has rendered atleast 5 years of continuous service, to receive one-half month''s salary for each year of completed service at the time of retirement/exit.
i) On normal retirement / early retirement / withdrawal / resignation: As per the provisions of the Payment of Gratuity Act, 1972 with vesting period of 5 years of service.
ii) On death in service: As per the provisions of the Payment of Gratuity Act, 1972 without any vesting period.
Gratuity payable to employee in case (i) and (ii), as mentioned above, is computed as per the Payment of Gratuity Act, 1972 except the Company does not have any limit on gratuity amount"
The most recent actuarial valuation of plan assets and the present value of the defined benefit obligation for gratuity were carried out as at 31 March 2023 The present value of the defined benefit obligations and the related current service cost and past service cost, were measured using the Projected Unit Credit (PUC) Actuarial Method.
The Company has a defined benefit gratuity plan in India governed by the Payment of Gratuity Act, 1972. It entitles an employee who has rendered at least 5 years of continuous service, to gratuity at the rate of 15 days wages for every completed year of service or part thereof in excess of 6 months, based on the rate of wages last drawn by the employee concerned.
The Company is exposed to a number of risks in the defined benefit plans. Most significant risks pertaining to defined benefits plans and management estimation of the impact of these risks are as follows:
a) Discount Rate Risk : The defined benefit obligation calculated uses a discount rate based on government bonds. If bond yields fall, the defined benefit obligation will tend to increase.
b) Salary Growth Risk : Higher than expected increases in salary will increase the defined benefit obligation
c) Demographic Risk : This is the risk of variability of results due to unsystematic nature of decrements that
include mortality, withdrawal, disability and retirement. The effect of these decrements on the defined benefit
obligation is not straight forward and depends upon the combination of salary increase, discount rate and
vesting criteria. It is important not to overstate withdrawals because in the financial analysis the retirement benefit of a short career employee typically costs less per year as compared to a long service employee.
34 Financial instruments - Fair values and risk management (i) Valuation principles
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurement date under current market conditions (i.e., an exit price), regardless of whether that price is directly observable or estimated using a valuation technique. In order to show how fair values have been derived, financial instruments are classified based on a hierarchy of valuation techniques, as explained below:
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:
Level 1 - Quoted prices in an active market (level 1): This level of hierarchy includes financial assets that are measured by reference to quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2 - Valuation techniques with observable inputs (level 2): This level of hierarchy includes financial assets and liabilities, measured using inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly (i.e., as prices) or indirectly (i.e., derived from prices).
Level 3 - Valuation techniques with significant unobservable inputs (level 3): This level of hierarchy includes financial assets and liabilities measured using inputs that are not based on observable market data (unobservable inputs). Fair values are determined in whole or in part, using a valuation model based on assumptions that are neither supported by prices from observable current market transactions in the same instrument nor are they based on available market data. This level of hierarchy includes Companyâs investments in equity shares which are unquoted or for which quoted prices are not available at the reporting dates.
The fair value of financial instruments that are not traded in an active market is determined using valuation techniques. The Group uses its judgement to select a variety of methods and make assumptions that are mainly based on market conditions existing at the end of each reporting period 35 Financial risk management Introduction and risk profile
The Company is a Non Banking Financial Company registered with Reserve Bank of India.
The Company''s audit committee oversees how management monitors compliance with the Companyâs risk management policies and procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Company. The audit committee is assisted in its oversight role by internal audit. Internal audit undertakes both regular and ad hoc reviews of risk management controls and procedures, the results of which are reported to the audit committee.
Credit risk
"Credit risk is the risk of financial loss to the Company if a counterparty to a financial instrument fails to meet its contractual obligations and arises partially from the investments."
Credit risk is being managed using a set of credit norms and policies. The Company has defined roles and responsibilities for originators and approvers. All credit exposure limits are approved by Board of Directors. The Company follows a process of time-to-time revisiting the credit policy and processes, on the basis of experience and feedback.
The Company has categorised all its financial assets at low credit risks on account of no past trends of defaults by any parties. Therefore, the provision for expected credit loss has been made as per the Reserve Bank of India''s prudential norms at 0.40% of the loan assets (which are not credit impaired)
The carrying amount of financial assets represent the maximum credit risk exposure. The maximum exposure to credit risk at the reporting was:
Credit risk relating to cash and cash equivalent and bank deposits is managed by only accepting banks and financial institution counterparties after evaluating parameters like capital adequacy, non- performing assets, profitability and liquidity ratios and net worth and by diversifying bank deposits in different banks across the country. ii. Liquidity risk
Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Companyâs approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions in a timely manner, without incurring unacceptable losses or risking damage to the Companyâs reputation.
The Companyâs primary sources of liquidity include cash and bank balances, deposits, investment in mutual funds and cash flow from operating activities. As at 31 March 2024, the Company had a working capital of '' 7461.47 lakhs (31 March 2023: '' 4213.70 lakhs ) including cash and cash equivalent of '' 459.21 lakhs (31 March 2023: '' 53.48 lakhs ).
Consequently, the Company believes its revenue, along with proceeds from financing activities will continue to provide the necessary funds to cover its short term liquidity needs.
Exposure to liquidity risk
The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted, and include estimated interest payments and exclude the impact of netting agreements.
Market risk is the risk that changes in market prices such as foreign exchange rates, interest rates and equity prices, which will affect the Companyâs income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return.
a) Foreign currency risk
Foreign Currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Company is not exposed to foreign currency risk as the Company does not have receivables or payables in foreign currency.
Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is not exposed to interest rate risk from the external borrowings that are used to finance their operations.
c.) Market price risk
The Company is mainly exposed to the price risk due to its investment in mutual funds and quoted equity shares. The price risk arises due to uncertainties about the future market values of these investments. The Company has laid policies and guidelines which it adheres to in order to minimise price risk arising from investments in mutual funds and equity shares.
iv) Legal and operational risk
a) Legal Risk
Legal risk is the risk relating to losses due to legal or regulatory action that invalidates or otherwise precludes performance by the end user or its counterparty under the terms of the contract or related netting agreements. There is currently no legal risk on the company.
b) Operational risk
Operational risk framework is designed to cover all functions and verticals towards identifying the key risks in the underlying processes. The framework, at its core, has the following elements:
1. Well defined Governance Structure.
2. Regular workshops and training for enhancing awareness and risk culture.
3. Documented Operational Policy.
The Company actively manages it''s capital base to maintain adequacy of capital to cover risks inherent to it''s business. The objective is to maintain appropriate levels of capital to support it''s business strategy taking into account the regulatory, economic and commercial environment . As a Non Banking Finance Company , the R.B.I requires the Company to maintain a minimum capital to risk weighted assets ratio ("CRAR") consisting of Tier I and Tier II capital of 15% of aggregate risk weighted assets. The Company endeavours to maintain a higher capital base than the mandated regulatory capital at all times.
For the purpose of Company''s capital management, capital includes issued equity share capital, other equity reserve less cash and cash equivalents. The primary objective of capital management is to maintain an efficient capital structure to reduce the cost of capital and to maximize shareholder''s values.
38 Commitments and contingencies
The Company has no contingent liability as at March 31, 2024 and March 31, 2023 The Company has no commitments as at March 31, 2024 and March 31, 2023
The Board of Directors of the Company takes decision in respect of allocation of resources and assesses the performance basis the reports/ information provided by functional heads and is thus considered to be chief operating decision maker.
The Company is engaged in the business of holding investments in various entities within the group and investing funds into other relevant securities with the objective to earn reasonable return. Considering the nature of companyâs business and operations, there are no separate reportable segments (business and/or geographical) in accordance with the requirements of In AS 108 âOperating segmentâ and hence, there are no additional disclosures to be provided other than those already provided in the financial statements.
41 Expenditure in foreign currency
The Company has not incurred any expenditure in foreign currency for the year ended March 31, 2024 and March 31, 2023
Right of Use and Lease liability recognised in the financial statement represents the office premises The Lease is for period ranging from 03 years to 99 years
The following table lets out a maturity analysis of lease payment, showing undiscounted lease payments to be made after the reporting date.
44 Other Statutory Information
a. The Company does not have any borrowings or long term debts or debts from financial institution or other lenders in financial Year 2022-23 & 2023-24. Therefore the Company is neither a defaulter nor does it require to file any return in this regard.
b. All immovable properties in the books of the Company are held in it''s name. There is no proceeding under Benami Transactions (Prohibition) Act, 1988 against the Company as on date.
c. The Company has not done any revaluation of it''s Plant, Property & Equipments in current or previous financial year
d. The Company has not created any charge on any of it''s movable or immovable property. Therefore the requirement of registering charge with Registrar of Companies do not arise.
e. The Company does not trade in goods or services and therefore does not have any trade receivable or payable in current or previous financial year.
f. The Company does not have any intangible asset under development in current or previous financial Year.
g. All transactions done by the Company during current or previous financial year have been duly recorded in it''s books of accounts.
h. The Company has not done any transaction with struck off companies under section 248 of the companies Act, 2013 during current or previous financial year.
i. The Company has not entered into any scheme of arrangement covered under section 230 to 237 of The Companies Act, 2013.
j. No fund have been advanced or loaned or invested (either from borrowed funds or share premium or any other
sources or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities
(âIntermediariesâ) with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries).
k. The Company has not received any fund from any party(s) (Funding Party) with the understanding that the
Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of
the Company (âUltimate Beneficiariesâ) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
l. The company has fully complied with the number of layers prescribed under Clause (87)of Section 2 of the Act read with Companies (Restriction of number of layers) Rules 2017 .
m. The Company has not traded or invested in Crypto Currency or Virtual Currency during current or previous financial year
45 Information as per RBI Circulars
a. Disclosure as per Master Direction - Reserve Bank of India (Non-Banking Financial Company - Scale Based Regulation) Directions, 2023 dated 19 October, 2023.
i) As per the above mentioned direction issued by the Reserve Bank of India NBFCs that are part of a common Group or are floated by a common set of promoters shall be viewed on consolidated basis for RBI categorisation and compliance purpose and accordingly the following three NBFC''s companies are controlled by the same group of promoter whose assets value is more than Rs. 1,000 crore as on 31st March,2024 and all disclosure are accordingly has been given:
1) Dhunseri Investment Limited ( RBI Reg. No: 05.06909 dated 15th July, 2011)
2) Mint Investments Limited ( RBI Reg. No: 05.02262 dated 16th May, 1998)
3) Naga Dhunseri Group Limited ( RBI Reg. No:05.01813 dated 13th April, 1998)"
ii) The company has not obatined any registration from any financial sector regulartors during the current finncial year, hence the same is not applicable to the company.
iii) No penalty has been levied on the company by any regulators.
iv) The company has neither any subsidiary nor any joint venture operation, but the company has an associate company namely M/s. Dhunseri Investments Limited which also engaged in the NBFC''s business in India.
v) The company has no dealing or operations in derivatives and Interest rate Swaps / Forward Rate Agreements hence no disclosure is applicable to the company.
vi) Maturity Pattern of assets and liability of the company is given in note no: 43.
vii) No prior period adjsutment has been made in the current or previous financial year.
viii) The company has not made any excess exposures than the prudential exposure norms for granting the loans during the year.
ix) The company has not given any secured loan during the current or 31 March, 2024.
x) The company has no non performing assets "NPA" during the current or 31 March, 2024 hence no disclosure for NPA has been made in the financials.
b. The company not being a primary dealer in Government Securities, disclosure requirements as stated in Circular No RBI/IDMD/2016-17/29 (Master Direction IDMD.PDRD.01/03.64.00/2016-17) dated July 1, 2016 and updated thereafter, are not applicable.
c. The company has not done any securitisation of assets during current or previous financial year. Therefore disclosure requirements as stated in circular no RBI/DOR/2021-22/85 (DOR.STR.REC.53/21.04.177/2021-22) dated September 24, 2021 and amended thereafter are not applicable.
d. No loan or non-performing asset has been transferred to or from the company in current or previous financial year. Therefore disclosure requirements as stated in Circular No RBI/DOR/2021-22/86 (DOR.STR.REC.51/21.04.048/2021-22) dated September 24, 2021 are not applicable
46 Previous year figures are regrouped and / or rearranged to confirm to current years presentation.
Mar 31, 2023
(A) Measurement of Fair Values
(i) Fair value hierarchy
The fair value measurement for all the investment property has been categorised as a Level 3 fair value based on the inputs to the valuation technique used.
(ii) Valuation Technique
The fair valuation is based on current prices in the active market for similar properties. The main inputs used are quantum, area, location, demand, restrictive entry to the complex, age of building and trend of fair market rent in the area.
Terms/rights attached to equity shares
The Company has one class of equity share having a face value of ''10 each. Each holder of equity shares is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the Shareholders in ensuing General Meeting, except in case of interim dividend.
In the event of liquidation of the Company, the holders of equity share will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by shareholders.
e Aggregate number of bonus share issued, shares issued for consideration other than cash and shares bought back during the period of five years immediately preceding the reporting date:
(i) No bonus shares have been issued during the period of 5 years immediately preceding the reporting date.
(ii) No shares have been allotted as fully paid paid-up pursuant to a contract without payment being received in cash.
(iii) No shares have been bought back during the period of 5 years immediately preceding the reporting date.
General reserve is created from time to time by way of transfer profits from retained earnings for appropriation purposes. General reserve is created by a transfer from one component of equity to another and is not an item of other comprehensive income.
Retained earnings are the profits that the Company has earned till date, less any transfer to general reserves, dividends and other distributions made to the shareholders.
As per Section 45-IC(1) of the Reserve Bank of India Act, 1934, every non-banking financial company shall create a reserve fund and transfer therein a sum not less than twenty per cent of its net profit every year as disclosed in the profit and loss account and before any dividend is declared.
FVTOCI Equity investment reserve
The Company has elected to recognise changes in the fair value of investment in equity shares in other comprehensive income. These changes are accumulated within the FVTOCI investment reserve within equity. The Company will transfer amounts from the said reserve to retained earnings when the relevant equity shares are derecognised.
Note: Transactions relating to dividend paid or received were on the same terms and conditions that applied to other shareholders. Hence, dividend paid or received to and from subsidiary, associates and entities on which KMP(s) have significant control are not shown as related party transactions.
Transactions related to sale of assets are based on independent valuation report. Transactions related to acquisition of investments are based on par value of shares. Transactions relating to rental and leave & licence fees are as per related agreements. All other transactions are made on normal commercial terms and conditions.
All related party transactions are reviewed by the Audit Committee of the Company.
All outstanding balances are unsecured and are receivable / repayable in cash.
Disclosure as per clause 34(3), clause 53 (f) and Schedule V of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015:
a. Loans to Subsidiaries /Associates :
The Company has not given any loan to its Subsidiaries/Associates
b. Loans to firms / companies in which directors are interested :
The Company has not given any loan to the firm/companies in which director on interested.
33 Employee benefits expense a. Defined contribution plans:
The Company makes contributions, determined as a specified percentage of the employee salaries in respect of qualifying employees towards provident fund, which is a defined contribution plan. The amount recognised as an expense towards contribution to provident fund for the year aggregated to '' 5.28 lakhs (31 March 2022: '' 4.02 lakhs)
The discount rate is based on the prevailing market yield of Indian government securities as at the balance sheet date for the estimated terms of the obligation.
An amount of '' 2.27 lakhs (previous year '' 0.38 lakhs) pertaining to compensated absences is recognised as an expense and included in ""Employee benefits expense"" in Note 26.
; Defined benefit plan: Gratuity
Gratuity scheme - This is an defined benefit plan and it entitles an employee, who has rendered atleast 5 years of continuous service, to receive one-half month''s salary for each year of completed service at the time of retirement/exit.
i) On normal retirement / early retirement / withdrawal / resignation: As per the provisions of the Payment of Gratuity Act, 1972 with vesting period of 5 years of service.
ii) On death in service: As per the provisions of the Payment of Gratuity Act, 1972 without any vesting period.
Gratuity payable to employee in case (i) and (ii), as mentioned above, is computed as per the Payment of Gratuity Act, 1972 except the Company does not have any limit on gratuity amount"
The most recent actuarial valuation of plan assets and the present value of the defined benefit obligation for gratuity were carried out as at 31 March 2023 The present value of the defined benefit obligations and the related current service cost and past service cost, were measured using the Projected Unit Credit (PUC) Actuarial Method.
The Company has a defined benefit gratuity plan in India governed by the Payment of Gratuity Act, 1972. It entitles an employee who has rendered at least 5 years of continuous service, to gratuity at the rate of 15 days wages for every completed year of service or part thereof in excess of 6 months, based on the rate of wages last drawn by the employee concerned.
The Company is exposed to a number of risks in the defined benefit plans. Most significant risks pertaining to defined benefits plans and management estimation of the impact of these risks are as follows:
a) Interest rate risk : The defined benefit obligation calculated uses a discount rate based on government bonds. If bond yields fall, the defined benefit obligation will tend to increase.
'' b) Salary Inflation risk : Higher than expected increases in salary will increase the defined benefit obligation
c) Demographic risk : This is the risk of variability of results due to unsystematic nature of decrements that include mortality, withdrawal, disability and retirement. The effect of these decrements on the defined benefit obligation is not straight forward and depends upon the combination of salary increase, discount rate and vesting criteria. It is important not to overstate withdrawals because in the financial analysis the retirement benefit of a short career employee typically costs less per year as compared to a long service employee.
d) The Fair Value of Gratuity Planned Asset is in excess of Benefit Obligation as per Gratuity Actuarial Valuation report, therefore the company has recognised the asset as on 1st April 2021 for '' 2.30 Lakhs and accordingly adjusted the retained earning for '' 1.72 lakhs after considering deferred tax of '' 0.58 lakhs
34 Financial instruments - Fair values and risk management (i) Valuation principles
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurement date under current market conditions (i.e., an exit price), regardless of whether that price is directly observable or estimated using a valuation technique. In order to show how fair values have been derived, financial instruments are classified based on a hierarchy of valuation techniques, as explained below:
*The Company has not disclosed fair value financial instruments carried at amortised cost such as trade payables, borrowings and other financial liabilities because their carrying amounts are a reasonable approximation of fair value.
The fair value of cash and cash equivalents, other bank balances, other current financial assets, current borrowings, trade payables and other current financial liabilities approximate their carrying amounts, due to their short-term nature. Fair value of bank deposits included in non-current other financial assets are equivalent to their carrying amount, as the interest rate on them is equivalent to market rate.
ii) Measurement of fair values
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:
Level 1 â Quoted (unadjusted) market prices in active markets for identical assets or liabilities Level 2 â Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable inputs.
Level 3 â Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable
35 Financial risk management Introduction and risk profile
The Company is a Non Banking Financial Company registered with Reserve Bank of India.
The Company''s audit committee oversees how management monitors compliance with the Companyâs risk management policies and procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Company. The audit committee is assisted in its oversight role by internal audit. Internal audit undertakes both regular and ad hoc reviews of risk management controls and procedures, the results of which are reported to the audit committee.
"Credit risk is the risk of financial loss to the Company if a counterparty to a financial instrument fails to meet its contractual obligations and arises partially from the investments.â
Credit risk is being managed using a set of credit norms and policies. The Company has defined roles and responsibilities for originators and approvers. All credit exposure limits are approved by Board of Directors. The Company follows a process of time-to-time revisiting the credit policy and processes, on the basis of experience and feedback.
The Company has categorised all its financial assets at low credit risks on account of no past trends of defaults by any parties. Therefore, the provision for expected credit loss has been made as per the Reserve Bank of India''s prudential norms at 0.40% of the loan assets (which are not credit impaired)
Credit risk relating to cash and cash equivalent and bank deposits is managed by only accepting banks and financial institution counterparties after evaluating parameters like capital adequacy, non- performing assets, profitability and liquidity ratios and net worth and by diversifying bank deposits in different banks across the country.
Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Companyâs approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions in a timely manner, without incurring unacceptable losses or risking damage to the Companyâs reputation.
"The Companyâs primary sources of liquidity include cash and bank balances, deposits, investment in mutual funds and cash flow from operating activities. As at 31 March 2023, the Company had a working capital of '' 4,213.70 lakhs (31 March 2022: '' 3,703.21 lakhs ) including cash and cash equivalent of '' 53.48 lakhs (31 March 2022: '' 269.97 lakhs ).
Consequently, the Company believes its revenue, along with proceeds from financing activities will continue to provide the necessary funds to cover its short term liquidity needs.
Exposure to liquidity risk
The following are the remaining contractual maturities of financial liabilities at the reporting date. The amounts are gross and undiscounted, and include estimated interest payments and exclude the impact of netting agreements.
Market risk is the risk that changes in market prices such as foreign exchange rates, interest rates and equity prices, which will affect the Companyâs income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return.
a) Foreign currency risk
Foreign Currency risk is the risk that the fair value or future cash flows of an exposure will fluctuate because of changes in foreign exchange rates. The Company is not exposed to foreign currency risk as the Company does not have receivables or payables in foreign currency.
Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company is not exposed to interest rate risk from the external borrowings that are used to finance their operations.
c.) Market price risk
The Company is mainly exposed to the price risk due to its investment in mutual funds and quoted equity shares. The price risk arises due to uncertainties about the future market values of these investments. The Company has laid policies and guidelines which it adheres to in order to minimise price risk arising from investments in mutual funds and equity shares.
iv) Legal and operational risk
a) Legal Risk
Legal risk is the risk relating to losses due to legal or regulatory action that invalidates or otherwise precludes performance by the end user or its counterparty under the terms of the contract or related netting agreements. There is currently no legal risk on the company.
b) Operational risk
Operational risk framework is designed to cover all functions and verticals towards identifying the key risks in the underlying processes. The framework, at its core, has the following elements:
1. Well defined Governance Structure.
2. Regular workshops and training for enhancing awareness and risk culture.
3. Documented Operational Policy.
The Company actively manages it''s capital base to maintain adequacy of capital to cover risks inherent to it''s business. The objective is to maintain appropriate levels of capital to support it''s business strategy taking into account the regulatory, economic and commercial environment . As a Non Banking Finance Company , the R.B.I requires the Company to maintain a minimum capital to risk weighted assets ratio ("CRAR") consisting of Tier I and Tier II capital of 15% of aggregate risk weighted assets. The Company endeavours to maintain a higher capital base than the mandated regulatory capital at all times.
For the purpose of Company''s capital management, capital includes issued equity share capital, other equity reserve less cash and cash equivalents. The primary objective of capital management is to maintain an efficient capital structure to reduce the cost of capital and to maximize shareholder''s values.
38 Commitments and contingencies
The Company has no contingent liability as at March 31, 2023 and March 31, 2022 The Company has no commitments as at March 31, 2023 and March 31, 2022
The Board of Directors of the Company takes decision in respect of allocation of resources and assesses the performance basis the reports/ information provided by functional heads and is thus considered to be chief operating decision maker.
The Company is engaged in the business of holding investments in various entities within the group and investing funds into other relevant securities with the objective to earn reasonable return. Considering the nature of companyâs business and operations, there are no separate reportable segments (business and/or geographical) in accordance with the requirements of In AS 108 âOperating segmentâ and hence, there are no additional disclosures to be provided other than those already provided in the financial statements.
41 Expenditure in foreign currency
The Company has not incurred any expenditure in foreign currency for the year ended March 31, 2023 and March 31, 2022
Right of Use and Lease liability recognised in the financial statement represents the office premises The Lease is for period ranging from 03 years to 99 years
The following table lets out a maturity analysis of lease payment, showing undiscounted lease payments to be made after the reporting date.
As Lessor: The Company has sub leased the premise to Dhunseri Tea and Industries Ltd under the terms constituting an operating lease. The Investor has recognised the lease rentals of '' 32.82 Lakhs (P.Y. '' 32.82 Lakhs) as income in it''s books.
44 The Company does not have any borrowings or long term debts or debts from financial institution or other lenders in financial Year 2021-22 & 2022-23. Therefore the Company is neither a defaulter nor does it require to file any return in this regard.
45 All immovable properties in the books of the Company are held in it''s name. There is no proceeding under Benami Transactions (Prohibition) Act, 1988 against the Company as on date.
46 The Company has not done any revaluation of it''s Plant, property & equipments in current or previous financial year
47 The Company has not created any charge on any of it''s movable or immovable property. Therefore the requirement of registering charge with Registrar of Companies do not arise.
48 The Company does not trade in goods or services and therefore does not have any trade receivable or payable in current or previous financial year.
49 The Company does not have any intangible asset under development in current or previous financial Year
50 All transactions done by the Company during current or previous financial year have been duly recorded in it''s books of accounts.
51 The Company has not done any transaction with struck off companies under section 248 of the companies Act, 2013 during current or previous financial year.
52 The Company has not entered into any scheme of arrangement covered under section 230 to 237 of The Companies Act, 2013.
53 No fund have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities (âIntermediariesâ) with the understanding, whether recorded in writing or otherwise, that the Intermediary shall lend or invest in party identified by or on behalf of the Company (Ultimate Beneficiaries).
54 The Company has not received any fund from any party(s) (Funding Party) with the understanding that the Company shall whether, directly or indirectly lend or invest in other persons or entities identified by or on behalf of the Company (âUltimate Beneficiariesâ) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
55 The company has fully complied with the number of layers prescribed under Clause (87)of Section 2 of the Act read with Companies (Restriction of number of layers) Rules 2017.
56 The Company has not traded or invested in Crypto Currency or Virtual Currency during current or previous financial year.
57 The company not being a primary dealer in Government Securities, disclosure requirements as stated in Circular No RBI/IDMD/2016-17/29 (Master Direction IDMD.PDRD.01/03.64.00/2016-17) dated July 1, 2016 and updated thereafter, are not applicable.
58 The company has not done any securitisation of assets during current or previous financial year. Therefore disclosure requirements as stated in circular no RBI/DOR/2021-22/85 (DOR.STR.REC.53/21.04.177/2021-22) dated September 24, 2021 and amended thereafter are not applicable.
59 No loan or non-performing asset has been transferred to or from the company in current or previous financial year. Therefore disclosure requirements as stated in Circular No RBI/DOR/2021-22/86 (DOR.STR.REC.51/21.04.048/2021-22) dated September 24, 2021 are not applicable.
Previous year figures are regrouped and / or rearranged to confirm to current years presentation.
Mar 31, 2018
COMPANY OVERVIEW
Naga Dhunseri Group Limited having its Registered Office at âDhunseri HouseD, 4A Woodburn Park, Kolkata - 700020 carries on the business of Investing and Trading in Shares and Securities and Renting of Commercial Vehicles and is registered as a Non-Banking Financial Company with the Reserve Bank of India having Registration No. 05.01813
(a) During the period of five years immediately preceeding the date of the Balance Sheet the Company has not issued any shares for consideration other than cash.
(b) Term / Right attached to Equity Shares
The Company has one class of equity shares having a par value of Rs. 10/- per share. Each holder of equity share is entitled to one vote per share held and dividend proposed by the Board of Directors subject to the approval of the shareholders in the Annual General Meeting. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company, after distribution of all prefential amounts, in proportion to their shareholding.
(f) The Company does not have any Holding or Ultimate Holding Company.
(g) No Calls are unpaid by any Director or Officer of the Company during the year.
(h) No Securities convertible into Equity / Preference Shares have been issued during the year.
(i) The Board of Directors in its meeting on May 28, 2018 has proposed a final dividend of Rs. 2.50/- per equity share for the financial year ended March 31, 2018 subject to the approval of the shareholders at the ensuing
Annual General Meeting and if approved would result in a cash outflow of Rs. 30.09 Lakhs.
1. On the basis of the information available with the Company there are no suppliers registered under the Micro, Small, Medium Enterprises Development Act, 2006.
2. Expenditure in Foreign Currency
3. Employee Benefits Obligation :
A. Defined Contribution Plans
Contribution for Defined Contribution Plan has been recognised as expenses in the Statement of Profit & Loss amounting to Rs.3.02 lakhs (previous yearRs.15.58 lakhs) and included in Note 22 under Contribution to Provident fund in the Statement of Profit & Loss.
B. Defined Benefit Plans
Reconciliation of opening and closing balances of Defined Benefit Obligation :
The present value of obligation for gratuity is determined based on actuarial valuation using the Projected Unit Credit method. The estimates of future salary increase, considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors including supply & demand in the employment market.
The above information is certified by the actuary.
4. The Companyâs primary activity is Investment in Shares and Securities and as such no separate information is required to be furnished in terms of Accounting Standard - 17, Segment Reporting prescribed under Section 133 of the Companies Act, 2013.
5. On the basis of assessment of its assets made by the Company value in use / carrying value, do not fall short of its expected realisable value. Therefore no provision is required to be made for impairment of its assets as required under AS 28.
6. a) The Management decided not to recognize decline in market value of certain Strategic Investments, if any, at year end which is not a permanent decline.
b) The Company has earned Profit / (Loss) on account of sale of investments as below :
7. Schedule to the Balance Sheet of a Non Systemically Important Non-Deposit taking Non-Banking Financial Company (as required in terms of paragraph 13 of Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Direction, 2016)
8. Estimated amount of contracts remaining to be executed on capital account Rs. 105.86 lakhs (Previous Year Rs. 388.67 lakhs).
9. No Penalty has been imposed by any of the regulator on the Company during the year.
10. Previous Yearâs figures have been re-grouped and re-arranged wherever considered necessary.
Mar 31, 2017
COMPANY OVERVIEW
Naga Dhunseri Group Limited having its Registered Office at âDhunseri Houseâ, 4A Woodburn Park, Kolkata - 700020 carries on the business of Investing and Trading in Shares and Securities and is registered as a Non-Banking Financial Company duly approved by the Reserve Bank of India and having Registration No. 05.01813
1 (a) SHARE CAPITAL
(b) During the period of five years immediately preceeding the date of the Balance Sheet the Company has not issued any shares for consideration other than cash.
(c) Term / Right attached to Equity Shares
The Company has one class of equity shares having a par value of Rs. 10/- per share. Each holder of equity share is entitled to one vote per share held and dividend proposed by the Board of Directors subject to the approval of the shareholders in the Annual General Meeting. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company, after distribution of all prefential amounts, in proportion to their shareholding.
(d) Reconciliation of the number of shares outstanding
(e) Details of shareholdersâ holding more than 5% Shares :
(f) The Board of Directors in its meeting on May 30, 2017 has proposed a final dividend of Rs. 2.50/- per equity share for the financial year ended March 31,2017 subject to the approval of the shareholders at the ensuing Annual General Meeting and if approved would result in a cash outflow of Rs. 30.09 Lakhs.
2. Disclosure as per Accounting Standard 19 in respect of Leasehold Assets.
a) The total of future minimum lease payments under non cancellable operating lease for each of the following periods :
3. On the basis of the information available with the Company there are no suppliers registered under the Micro, Small, Medium Enterprises Development Act, 2006.
4. Employee Benefits Obligation :
A. Defined Contribution Plans
Contribution for Defined Contribution Plan has been recognised as expenses in the Profit & Loss Account amounting to Rs. 5.58 lakhs (previous year Rs. 6.00 lakhs) and included in Schedule 22 under Contribution to Provident and other fund in the Profit & Loss Account.
B. Defined Benefit Plans Gratuity:
The Company operates Gratuity plan (administered through trust fund and managed by Birla Sun Life Insurance Company Limited) wherein every employee is entitled to the benefit equivalent to 15 days salary last drawn for each completed year of service. The same is payable on retirement or termination of service. Liability with regard to the aforesaid Gratuity plan is determined by actuarial valuation based upon which Contributions are made to Birla Sun Life Insurance Company Limited through the fund under group gratuity scheme.
Leave Benefit:
Leave benefit comprises of leave balances accumulated by the employees which can be encashed any time during the tenure of sen/ice / retirement / death or exit. Liability for leave encashment is provided for based on actuarial valuation carried out annually at the year end.
The present value of obligation for gratuity is determined based on actuarial valuation using the Projected Unit Credit method. The estimates of future salary increase, considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors including supply & demand in the employment market.
The above information is certified by the actuary.
5. On the basis of assessment of its assets made by the Company value in use / carrying value, do not fall short of its expected realisable value. Therefore no provision is required to be made for impairment of its assets as required under AS 28.
6. Dividend Income Includes
1) Rs. 196.94/- Lakhs (previous year Rs. 241.49/- Lakhs) from Investment in Shares
2) Rs. 14.76/- Lakhs (previous year Rs. 8.08/- Lakhs) from Stock in Trade
7. Profit / (Loss) on sale of Investments includes :
1) Non Current Investments Rs. 1,092.00/- Lakhs (Previous year Profit Rs. 395.27/- Lakhs)
2) Current Investments Rs. 10.95/- Lakhs (Previous year Profit Rs. 11.35/- Lakhs)
8. Schedule to the Balance Sheet of a non-deposit taking Non-Banking Financial Company (as required in terms of paragraph 13 of Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Direction, 2007)
9. Estimated amount of contracts remaining to be executed on capital account Rs. 388.67 lakhs (previous year Rs. 423.62 lakhs).
10. Previous Yearâs figures have been re-grouped and re-arranged wherever considered necessary.
Mar 31, 2016
1. Related party disclosures in accordance with the Accounting Standard (AS 18) issued by the Institute of Chartered Accountants of India.
A. Name of the Related Parties:
|
Related Parties |
Relationship |
|
M/s. Dhunseri Petrochem Ltd. M/s. Mint Investments Ltd. M/s. Trimplex Investments Ltd. M/s. Madhuting Tea Pvt. Ltd. M/s. Jatayu Estate Pvt. Ltd. M/s. Dhunseri Tea & Industries Ltd. M/s. Dhunseri Investments Ltd. (Merged with M/s. Plenty Valley Intra Ltd.) M/s. Sewbhagwan & Sons Mr. Chandra Kumar Dhanuka (Chairman) Mr. Mrigank Dhanuka (Director) Mrs. Aruna Dhanuka (Vice Chairman & Managing Director) Mr. A. K. Sarkar (Company Secretary) Mr. H. P. Bhuwania (Chief Financial Officer) |
Group Company Group Company Group Company Group Company Group Company Group Company Associate Company Firm over which directors are able to exercise significant influence) Relative of Key Management Personnel Relative of Key Management Personnel Key Management Personnel Key Management Personnel Key Management Personnel |
The present value of obligation for gratuity is determined based on actuarial valuation using the Projected Unit Credit method. The estimates of future salary increase, considered in actuarial valuation take into account inflation, seniority, promotion and other relevant factors including supply & demand in the employment market.
The above information is certified by the actuary.
2. On the basis of assessment of its assets made by the Company value in use / carrying value, do not fall short of its expected realizable value. Therefore no provision is required to be made for impairment of its assets as required under AS 28.
3. Dividend Income Includes
1) Rs.241.49 Lacs (previous year Rs. 185.93 Lacs) from Investment in Shares
2) Rs. 8.08 Lacs (previous year Rs. 0.59 Lacs) from stock in Trade
4. Profit / (Loss) on sale of Investments includes:
1) Non Current Investments Rs. 395.27 Lacs (Previous year Profit Rs. 410.22 Lacs)
2) Current Investments Rs. 11.35 Lacs (Previous year Profit Rs. 615.77 Lacs)
5. Earning per Share:
6. Schedule to the Balance Sheet of a non-deposit taking Non-Banking Financial Company (as required in terms of paragraph 13 of Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Direction, 2007)
Mar 31, 2015
1. Related party disclosures in accordance with the Accounting Standard (AS 18) issued by the Institute of Chartered Accountants of India.
A. Name of the Related Parties :
a) Key Management Personnel :
Mr. Chandra Kumar Dhanuka â Chairman
Smt. Aruna Dhanuka â Managing Director (w.e.f. 01-07-2014)
Mr. Mrigank Dhanuka â Director
Mr. A. K. Sarkar â Company Secretary (w.e.f. 01-11-2014)
Mr. H. P. Bhuwania â Chief Financial Officer
b) Associate Companies :
M/s. Dhunseri Petrochem Ltd., M/s. Dhunseri Tea & Industries Ltd., M/s. Mint Investments Ltd., M/s. Dhunseri Investments Ltd., M/s. Plenty Valley Intra Ltd., M/s. Trimplex Investments Ltd., M/s. Madhuting Tea Pvt. Ltd., M/s. Jatayu Estate Pvt. Ltd.
c) Others (Firm over which directors are able to exercise significant influence)
Sewbhagwan & Sons - Firm
2. On the basis of the information available with the Company there are no suppliers registered under the Micro, Small, Medium Enterprises Development Act, 2006.
3. Pursuant to Schedule II to the Companies Act, 2013 Depreciation on Fixed Assets has been provided on the basis of the useful lives of Fixed Assets against the Rate of Depreciation charged as per Schedule XIV of the Companies Act, 1956. Due to this change profit for the year ended 31st March, 2015 has been increased by Rs. 5.43 lakhs.
4. The provisions of Section 135 of the Companies Act, 2013 and Companies (Corporate Social Responsibility Policy) Rules, 2014 relating to Corporate Social Responsibility (CSR) will be applicable to the company when the accounts for the Financial Year 2014 - 2015 will be approved by the shareholders at the ensuing Annual General Meeting. The Company will implement CSR activities for the Financial Year 2015 - 2016 commencing 1st April, 2015.
5. Employee Benefits Obligation :
A. Defined Contribution Plans
Contribution for Defined Contribution Plan has been recognised as expenses in the Profit & Loss Account amounting to Rs. 4.02 lacs (previous year Rs. 1.81 lacs) and included in Schedule 19 under Contribution to Provident and other fund in the Profit & Loss Account.
B. Defined Benefit Plans Gratuity :
The Company operates gratuity plan (administered through fund trust and managed by Birla Sun Life Insurance Company Limited) wherein every employee is entitled to the benefit equivalent to 15 days salary last drawn for each completed year of service. The same is payable on retirement or termination of service, whichever is carried out at the year-end are made to Birla Sun Life Insurance Company Limited and the gratuity fund under group gratuity scheme.
Leave Benefit :
Leave benefit comprises of leave balances accumulated by the employees which can be encashed any time during the tenure of service / retirement / death or exit. Liability for leave encashment is provided for based on actuarial valuation carried out annually at the year end.
Disclosure regarding Gratuity and Leave Encashment.
The present value of obligation for gratuity is determined based on actuarial valuation using the Projected Unit Credit method. The estimates of future salary increase, considered in actuarial valuation take into account inflation, seniority, promotion and other relevant factors including supply & demand in the employment market.
The above information is certified by the actuary.
6. On the basis of assessment of its assets made by the Company value in use / carrying value, do not fall short of its expected realisable value. Therefore no provision is required to be made for impairment of its assets as required under AS 28.
7. Dividend Income Includes
1) Rs. 185.93/- (previous year Rs. 216.23/-) from Investment in shares
2) Rs. 0.59/- (previous year Rs. 1.91/-) from stock in trade
8. Profit on sale of Investments includes :
1) Long term profit Rs. 410.22/- (previous year profit Rs. 10.91/-)
2) Short term profit Rs. 615.77/- (previous year loss Rs. 73.27/-)
9. Schedule to the Balance Sheet of a non-deposit taking Non-Banking Financial Company (as required in terms of paragraph 13 of Non-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Direction, 2007)
10. Estimated amount of contracts remaining to be executed on capital account Rs.478.58 lacs (previous year Rs.700.75 lacs).
11. Previous Yearâs figures have been re-grouped and re-arranged wherever considered necessary.
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