Shivom Investment & Consultancy Ltd. कंपली की लेखा नीति

Mar 31, 2018

1. Significant Accounting Policies

1.1 Basis of Preparation of Financial Statements

These financial statements have been prepared in accordance with the Indian Accounting Standards (‘Ind AS”) notified notified under the Companies (Indian Accounting Standards) Rules, 2015 , Companies (Indian Accounting Standards) Amendment Rules, 2016 (to the extent notified and applicable) and the guidelines issued by the Reserve Bank of India as applicable to a Non-banking Finance Company. Up to the year ended March 31, 2017, the Company prepared its financial statements in accordance with the requirements of previous GAAP, which includes Standards notified under the Companies (Accounting Standards) Rules, 2006. These are the company’s first Ind AS financial statements. The date of transition to Ind AS is April 1st, 2016. In accordance with Ind AS 101 First-time Adoption of Indian Accounting Standard, the Company has presented a reconciliation under Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (“Previous GAAP” or “Indian GAAP”) to Ind AS.

The financial statements have been prepared under the historical cost convention and on accrual basis, unless otherwise stated. The financial statements are presented in Indian rupees.

1.2 Revenue Recognistion

The Company recognises income on accrual basis. However where the ultimate collection of the same lacks reasonable certainty, revenue recognition is postponed to the extent of uncertainty.

1.3 Property, Plant & Equipment

Fixed Assets are stated at cost less accumulated depreciation and impairment loss, if any. Depreciation on fixed assets is provided on SLM at the rates and in the manner prescribed in the Schedule II of the Companies Act, 2013.

The details of estimated life for each category of asset are as under:

Intangible Asswts (Goodwill) — 5 years

1.4 Investments

Long-term Investments are carried at acquisition cost. Investments intended to be held for less than one year are classified as ‘Current Investments’ and carried at lower of cost and net realizable value. Provision for diminution in value is made if the decline in value is other than temporary in nature in the opinion of the management.

Investment in shares of Kaushalya Infrastructure Development Corporation Limited and Prabhat Telecoms (India) Limited are converted into Inventory (Stock in trade). Further value of these shares are taken at their prevalent market price on the relevant date.

1.5 Taxes on Income

Provision for Income Tax is made on the basis of estimated taxable income for the period at current rates. Tax expense comprises both Current Tax and Deferred Tax at the applicable enacted or substantively enacted rates. Current Tax represents the amount of Income Tax payable/ recoverable in respect of taxable income/ loss for the reporting period. Deferred Tax represents the effect of timing difference between taxable income and accounting income for the reporting period that originates in one year and are capable of reversal in one or more subsequent years.

1.6 Provisions, Contingent Liabilities and Contingent Assets

Provisions involving substantial degree of estimation in measurement are recognised when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognised but are disclosed in the Notes. Contingent Assets are neither recognised nor disclosed in the financial statements.

1.7 Inventory

Inventory cost includes cost of purchase and other costs incurred in bringing the inventories to their present condition. Inventories have been valued at lower of Cost or NRV.

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Mar 31, 2016

1. Significant Accounting Policies

1.1 Basis of Preparation of Financial Statements

The Financial Statements have been prepared in conformity with generally accepted accounting principles to comply with the notified accounting standards under the Companies (Accounting Standard) Rules, 2006 and the guidelines issued by the Reserve Bank of India as applicable to a Nonbanking Finance Company. The financial statements have been prepared under the historical cost convention and in accordance with the provisions of the Companies Act, 2013.

1.2 Revenue Recognition

Revenue is recognized only when it can be reliably measured and it is reasonable to expect ultimate collection.

1.3 Fixed Assets & Depreciation and Amortization

Fixed Assets are stated at cost less accumulated depreciation and impairment loss, if any. Depreciation on fixed assets is provided on SLM at the rates and in the manner prescribed in the Schedule II of the Companies Act, 2013.

The details of estimated life for each category of asset are as under:

Intangibles (Goodwill) — 5 years

1.4 Investments

Long-term Investments are carried at acquisition cost. Investments intended to be held for less than one year are classified as ''Current Investments'' and carried at lower of cost and net realizable value. Provision for diminution in value is made if the decline in value is other than temporary in nature in the opinion of the management.

1.5 Taxes on Income

Provision for Income Tax is made on the basis of estimated taxable income for the period at current rates. Tax expense comprises both Current Tax and Deferred Tax at the applicable enacted or substantively enacted rates. Current Tax represents the amount of Income Tax payable/ recoverable in respect of taxable income/ loss for the reporting period. Deferred Tax represents the effect of timing difference between taxable income and accounting income for the reporting period that originates in one year and are capable of reversal in one or more subsequent years.

1.6 Provisions, Contingent Liabilities and Contingent Assets

Provisions involving substantial degree of estimation in measurement are recognized when there is a present obligation as a result of past events and it is probable that there will be an outflow of resources. Contingent Liabilities are not recognized but are disclosed in the Notes. Contingent Assets are neither recognized nor disclosed in the financial statements.

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Mar 31, 2012

1.2 Revenue Recognition

Revenue recognized only whom can he reliably measured and is in expect. I ultimate collection

1.3 Fixed Assets & Depreciation

Taxed Assets are stated at cost less accumulated depreciation and impairment loss, if any Depreciation on lived assets is provided on SI M at the rates and in the manner prescribed in the Schedule XIV of the Companies Act, 1956

1.4 Investments

I mg-term Investment are earned at acquisition cost Investments intended to be held tar less than one year are classified at ‘Current Investments and carried at lower of cost and new realizable value Provision for diminution in value made it the decline in value it other than temporary in nature in the opinion not the management

1.5 Taxes on Income

Provision for Income Tax is made on the basis of estimated taxable income for the period at current rate''* Tax expense comprises both Current Tax and Deferred Tax At I the applicable enacted or Kstantiveh enacted roles Current Tax represents the amount of Income Tax payable/ recoverable in respect to taxable income/ loss for the reporting period Deterred Tax represents the effect of timing difference between taxable income and accounting income lion the reporting period that originates in one year and are capable of reversal in one or more subsequent Year

1.6 Provisions, Contingent Liabilities and Contingent Assets

Provision? involving substantial degree to estimation in measurement are recognized when there is a present obligation as a result ot past events and it is probable that there will be an outflow to resources Contingent Liabilities are not recognized but are disclosed in the Notes Contingent Assets are neither recognized nor disclosed in The financial statements.

19. Notes to Accounts :

a) Segment Reporting

The Company is predominantly engaged in the business of financial activities and is a ‘Single Segment Company.

b) Related Party Disclosures

AS per Accounting Standard 18 Related Party Disclosures'', the disclosure of transactions veils related parties are given below:

(i) Names of the related parties and description of relationship