Nahar capital annual report 2008-09 (20-10-9).pmd

NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
The Register of Members and Share TransferRegister of the Company shall remain closed from Notice is hereby given that the 4th Annual General 23rd September, 2009 to 30th September, 2009 Meeting of the Members of Nahar Capital and Financial Services Limited, will be held on Wednesday the 30thday of September, 2009 at 11:00 A.M. at the M/s. Nahar The dividend on equity shares as recommended by Industrial Enterprises Limited, Focal Point, Ludhiana to the Board of Directors, if approved at the Annual General Meeting will be paid to the members, whose ORDINARY BUSINESS
names appear in the Register of Members as on30th September, 2009 or Register of Beneficial To receive, consider and adopt the Audited Balance owners, maintained by the Depositories at the close Sheet as at 31st March, 2009 and the Profit and Loss account for the year ended on that date andthe Reports of the Directors and Auditors thereon.
The bank account particulars of the members will To declare dividend on Equity Shares.
be printed on the dividend warrants. Membersholding shares in physical form are requested to To appoint a Director in place of Dr.(Mrs.) H.K.Bal, immediately notify change in their address/Bank who retires by rotation and being eligible, offers details to the Company's Share Transfer Agent M/s.
Alankit Assignments Limited or to the Company's To appoint a Director in place of Sh. Amarjeet Singh, Registered Office at 375, Industrial Area -A, who retires by rotation and being eligible, offers Members holding shares in electronic form are To appoint a Director in place of Prof. Kanwar Sain requested to notify change in their address/Bank Maini who retires by rotation and being eligible, details to their Depository Participants before 22nd To appoint a Director in place of Sh. Jawahar LalOswal who retires by rotation and being eligible, To ensure better service and elimination of risk of holding shares in physical form, we requestshareholders holding shares in physical form to To appoint Auditors who shall hold office from the dematerialize their shares at the earliest.
conclusion of this meeting until the conclusion ofthe next Annual General Meeting and to fix their To avail the facility of nomination, Members are remuneration. M/s. Gupta Vigg & Co., Chartered requested to send us duly filled and signed Accountants, the retiring Auditors of the company being eligible, offer themselves for re-appointment.
The documents are opened for inspection at theRegistered Office of the company on any working BY ORDER OF THE BOARD
day (except Sunday and holiday) between 10.00 A.M.
to 12.00 Noon up to the date of Annual GeneralMeeting.
MANPREET KAUR
Members seeking any information with regard to Annual Accounts at the time of meeting arerequested to send their queries to the Company at least 7 days before the date of meeting so as toenable the management to keep the information THE MEETING IS ENTITLED TO APPOINT A PROXYTO ATTEND AND VOTE INSTEAD OF HIMSELF/ Members are requested to bring the copy of Annual Report alongwith them, at the meeting.
10. The information required to be provided under clause 49 of the Listing Agreement entered into with Stock Exchanges, regarding the Directors who are proposed to be re-appointed are annexed hereto NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
Information pursuant to Corporate Governance Clause
of the Listing Agreement regarding Directors seeking
appointment/re-appointment:
Dr. (Mrs.) H.K.Bal
15. Kulu Investment & Trading (P) Ltd.
16. Neha Credit & Investments (P) Ltd.
III. Name
Prof. K.S.Maini
Her Directorship/Membership in the committee of the
board in other companies is as under:
His Directorship/Membership in the committee of the
board in other companies is as under:
Name of the company
Committee
Sh. Jawahar Lal Oswal
in the Textile and Woollen Industry.
His Directorship/Membership in the Committees of
the Board in other companies is as under:
Sh. Amarjeet Singh
Name of the company
Committee
His Directorship/Membership in the committee of the
board in other companies is as under:
12. Nagdevi Trading & Inv. Co. Ltd.
19. Ogden Trading & Investments Co. (P) Ltd.-- 20. Neha Credit & Investments (P) Ltd.
BY ORDER OF THE BOARD
MANPREET KAUR
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
nCF Directors Report The dividend, if approved at the forthcoming Annual General Meeting, will be paid out of profits of the com- Your Directors have pleasure in presenting the FOURTH
pany for the year under reference to all those share- ANNUAL REPORT on the affairs of the company for the
holders whose name shall appear in the Register of Members on 30th September 2009 or Register of ben-eficial owners, maintained by the depositories as at FINANCIAL PERFORMANCE
Your Company's Financial Performance during the yearis summarised below: DIRECTORS
Current Period Previous Year
Pursuant to article 112 of the Articles of Associationof the company Dr. (Mrs.) H.K.Bal, Sh. Amarjeet (9 Months)
Singh, Prof. K.S.Maini and J.L. Oswal will be retiring by rotation at the ensuing Annual General Meeting and being eligible offer themselves for re-appointment.
APPROPRIATION
In terms of clause 49 of the Listing Agreement with the Stock Exchanges, the details of Directors to be appointed/re-appointed are contained in the accom- panying Notice of the forthcoming Annual General SEGMENT REPORTING
LISTING OF SECURITIES
The disclosure requirement of Accounting Standard The securities of the company are presently listed on AS-17, issued by the Institute of Chartered of India are not applicable as the main business activities of Company falls under single segment namely 'Invest- Jeejeebhoy Towers, Dalal Street, Mumbai.
The National Stock Exchange of India Ltd., Ex- FINANCIAL REVIEW
change Plaza, 5th Floor, Plot No.C/1, G-Block, The Company decided to change the accounting year Bandra Kurla Complex, Bandra (E), Mumbai.
from the 30th June to 31st March w.e.f. Current year.
As such Current Accounting Year is of Nine months The company has paid listing fee to both the Stock i.e. from 1st July 2008 to 31st March 2009 and hence Exchanges for the financial year 2009-2010.
the previous year figures are not comparable with the DEMATERIALISATION OF SECURITIES
The financial performance of the Company during the Your company has already established connectivity year is quite well. The Company earned an operating with both the Depositories i.e. National Securities and other income of Rs.1502.80 Lacs. The pre tax Depository Limited (NSDL) and Central Depository profits of the Company is of Rs.1418.37 and after pro- Services (India) Ltd (CDSL) to facilitate the holding viding Rs.117.00 Lacs towards the income tax provi- and trading of securities in electronic form. As the sion, the net profits comes to Rs.1301.37 Lacs.
date 95.77% of the share capital have been demateri-alized by the members of the company. The Share- After the appropriation of Rs.97.96 Lacs towards theproposed dividend and dividend distribution tax, an holders, who have not gone in for dematerialization of amount of Rs.262.00 Lacs was transferred to Special the shares till date, are requested to opt for demateri- Statutory Reserve fund pursuant to Section 45 IC of alization of the shares at the earliest.
the Reserve Bank of India Act, 1934 and an amount of Further as per SEBI circular No. D & CC/FITTC/CIR- Rs.941.41 Lacs has been transferred to General Re- 15/2002 DATED 27th December, 2002, company has appointed M/s Alankit Assignments Ltd., as Regis- DIVIDEND
trar for Share Transfer and Electronic connectivity.
Your Directors are pleased to recommend a dividend Accordingly all the shareholders, Investors, Members @ 10% on paid up equity share capital for the year of the Stock Exchanges, Depository Participants and all other concerned are requested to send all commu- NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
nication in respect of share transfer, demat/remat, iv) That they had prepared the Annual Accounts on a change of address etc. to our registrar at below men- AUDITORS
M/s. Gupta Vigg & Co., the Auditors of the company (Unit Nahar Capital and Financial Services Ltd) shall be retiring at the conclusion of the forthcoming Annual General Meeting and being eligible offer them- selves for reappointment. The company has obtained from auditors, a certificate as required under section 224(1-B) of the Companies Act, 1956 to effect that their re-appointment, if made, would be within the lim-its specified in the said section.
In case any query/complaint remains unresolved withour Registrar please write to Compliance Officer at PUBLIC DEPOSITS
the registered office of the company.
During the year, company has neither accepted nor AUDIT COMMITTEE
intends to accept any Public Deposit within the mean-ing of Section 58-A, of the Companies Act, 1956 and Pursuant to section 292A(1) of the Companies Act, the rules made there under. There is no outstanding/ 1956, Company has already constituted Audit Com- mittee consisting of Prof. K.S. Maini as Chairman,Sh. S.K. Sharma and Sh. Amarjeet Singh as mem- PARTICULARS OF EMPLOYEES
bers. The committee held 3 meetings during the year None of the employee is covered under the statement of particulars of the employee to be given under sec- REPORT ON THE CORPORATE GOVERNANCE
tion 217(2A) of the Companies Act, 1956 read withCompanies (Particulars of Employees) Rules, 1975.
Your company continues to follow the principles ofgood Corporate Governance. The Company has al- CONSERVATION OF ENERGY, TECHNOLOGY AB-
ready constituted several committees of directors to SORPTION, FOREIGN EXCHANGE EARNINGS AND
assist the board in good Corporate Governance. The Corporate Governance Report along with Auditors Particulars with respect to the Conservation of En- Certificate regarding compliance of the conditions of ergy, Technology Absorption and Foreign Exchange the Corporate Governance as stipulated in Clause 49 earning and outgo as required under section 217(1)(e) of the Listing Agreement of the Stock Exchange is of the Companies Act, 1956 read with Companies (Disclosure of Particulars in Report of the Board of DIRECTORS RESPONSIBILITY STATEMENT
Directors) Rules 1988, are not applicable.
The Directors would like to assure the Members that INDUSTRIAL RELATIONS
the financial statements for the year under review, The Industrial Relations remained cordial throughout confirm in their entirely requirements of the Compa- the year and the excellent results were achieved with the whole hearted co-operation of employees at all That in preparation of the annual accounts, the ACKNOWLEDGEMENT
applicable accounting standards had been fol- The board of directors of the company wish to place lowed alongwith proper explanations relating to on record their thanks and appreciation to all work- ers, staff members and executives for their contribu- That they had selected such accounting policies tion to the operations of the company. The directors applied them consistently and made judgements also place on record their sincere thanks to the share- and estimates that are reasonable and prudent holders for their continued support, co-operation and so as to give a true and fair view of the state of confidence in the management of the company.
affairs of the company at the end of the financialyear and of the profit and loss of the company for For AND ON BEHALF OF THE BOARD
iii) That they had taken proper and sufficient care for maintenance of adequate accounting records in PLACE: LUDHIANA JAWAHAR LAL OSWAL
accordance with provisions of this Act for safe-guarding the assets of the company and for pre- DATED: 30th July, 2009
(CHAIRMAN)
venting and detecting and fraud and other irregu-larities NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
CORPORATE GOVERNANCE REPORT
of the Board should comprise of Indepen-dent directors as per Corporate Governance This report of Corporate Governance form part of the tured its Board to comply the said require- of 10 (Ten) Directors out of which 5 Indepen-dent directors, namely Dr. (Mrs.) H.K. Bal, Sh.
Your company continues to practice the principle of good Amarjeet Singh, Dr. O.P. Sahni, Prof. K.S.
Corporate Governance. It is company's firm belief that Maini, and Dr. S.K. Singla. Thus the com- good Corporate Governance is key to success of busi- ness. The company's philosophy envisages an attain- ment of highest level of the transparency and account- ability in its operations so that company's goal of cre-ation and maximization of wealth of the shareholders could be achieved. Clause 49 of the Listing Agreement with stock exchanges incorporate certain mandatory dis- 2009 during the period 1st July, 2008 to 31st closure requirements with regard to Corporate Gover- March, 2009 with clearly defined agenda cir- nance Rules, we are pleased to report the following:- culated well in advance of each meeting. Themaximum interval between the two board BOARD OF DIRECTORS
meetings is not more than four months.
The Board of the company is well structured None of the directors is a member of more than 10 (ten) board level committees or is Independent Directors. The present strength of the Board is of Ten Directors, Sh. J.L. Oswal level committees as required under clause 49 of the Listing Agreement. None of the di- Oswal, is Managing Director of the company.
rector is a Director in more that 15 Compa- Directors are held by different persons.
Since Sh. J.L. Oswal is non executive chair- Participation of Non Executive Directors has man and he is related to Managing Director been active in the Board meetings. Atten- Sh. Dinesh Oswal. As such at least one half dance record of directors in the Board meet- Mr. Suresh Kumar Singla Non Executive - Independent ings and the Annual General Meeting for the within the meaning of Section 6 of the Com-panies Act, 1956.
Non Executive Directors are paid a sittingfee of Rs.2000/- per meeting of the Board.
Code of Conduct: The Company is commit-ted to conduct its business in accordance Sh. Jawahar Lal Oswal is the father of Sh.
with applicable laws, rules and regulations Dinesh Oswal and Sh. Kamal Oswal. Sh.
and highest standards of transparency. Ac- cordingly the company has laid down a code of conduct for all its Board Members and Se NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
nior Managerial Personnel are complying the said code Prof. K.S. Maini, Chairman of the Audit Committee at- of conduct. The code of conduct is also avail- tended the last Annual General Meeting of the company held on 29th November, 2008 and replied the queries raised at the Annual General Meeting.
REMUNERATION COMMITTEE
ous statutory requirements by all its busi- The company has constituted a remuneration committee comprising Sh. K.S. Maini as Chair- 10. All the statutory Registers that are required man, Sh. S.K. Sharma and Dr. (Mrs.) H.K. Bal as to be maintained, particularly, Register of Di- rectors shareholding, Register of Invest- The broad terms of reference of the Remunera- ments etc. are properly maintained and con- tion Committee is to ensure that the company's remuneration policies in respect of Managing Di- AUDIT COMMITTEE
rector/Working Directors Senior Executives are The board has already constituted an indepen- competitive so a to recruit and retain best talent in dent and qualified Audit committee. The Commit- the company and to ensure appropriate disclo- tee consists of Three non executive Directors un- sure of remuneration paid to said persons.
der the chairmanship of Prof. K.S. Maini, Sh.
The committee met once during the period under Amarjeet Singh, and Sh. S.K.Sharma are the two review, on 15.06.2009. The attendance record of other members of the Audit Committee. Prof. K.S.
Maini is M.Com. and is also having requisite ex- Name of the Member
No. of meetings held
No. of meetings
pertise in Financial and Accounting matters. Sh.
Upto 31.03.2009
attended
Amarjeet Singh is a Senior Advocate having expe- rience in the matters of corporate Taxation and Finance. Likewise, Sh. S.K.Sharma is a MBA and is also having requisite experience in Financialand Accounting matters. The financial controller The details of remuneration paid to managing /Execu- is a permanent invitee of the company. The statu- tive/Director(s) for the period ended 31st March, 2009 is tory auditors are also invited to attend the meet- ings, as per relevant provisions of the applicable Salary (Rs.) Sitting Fee(Rs.)
laws/rules, as and when felt necessary.
The terms of reference of the Audit Committeeare as per clause-49 of the Listing Agreement with the Stock Exchanges, SEBI Guidelines and Companies Act, 1956. Since Ist July, 2008 the committee met for three times i.e. on 21st August,2008, 31st October 2008 and 31st January,2009 and at these meetings, the quarterly unaudited financial results as well as the financial state- ment for the year ended 30th June, 2008 werereviewed and examined by the members of the audit committee before recommendation of the same to the Board of Directors for their perusaland adoption.
The attendance record of the audited committee SHAREHOLDERS' / INVESTORS' GRIEVANCES
COMMITTEE
Name of the Member
No. of meetings held
No. of meetings
The Company is having a Shareholders/Inves- Upto 31.03.2009
attended
tors Grievances Committee consisting of three Non Executive Directors under the Chairmanship of Sh. Amarjeet Singh. Sh. S.K.Sharma and Dr.O.P.Sahni are two others membersof the Com NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
mittee. Ms Manpreet Kaur, Company Secretary is exchangesDepository Participants and all other con- the Compliance officer of the Company. The Com- cerned are requested to send all communication in re- mittee looks into the complaints/grievances of spect of share transfer, Demat, Remat, Change of Ad-dress etc. to our Registrar, whose address and tele- shareholders such as transfer of shares, non re- phone no etc. have already been mentioned in Director's ceipts of share certificates/dividend, demat prob- lems etc. The Committee met three times from GENERAL BODY MEETINGS
1st July 2008 to 31st March 2009 i.e. 30th Sep-tember 2008, 31st December 2008 and 31st The details of the last three Annual Gen-
March 2009. The attendance record of the meet- eral Meetings are as under:-
Financial year Location
Name of the Member
No. of meetings held
No. of meetings
Upto 31.03.2009
attended
The Company's policy is to redress the grievances of the shareholders within a period of 15 to 30 days from the date of the receipts of the correspondence/grievances.
The details regarding the same are as under: No. of complaints received during the Period * No. of complaints resolved during the Period* No. of complaints pending as on 31st March, 2009: NIL Special Resolutions passed in the previ-
*Complaint received from BSE, NSE and SEBI.
ous three Annual GeneralMeetings:
The company have also received some request/com- 2005-2006
plaint from shareholders regarding non receipt of divi- dend/re-validation of dividend and the company replied/ 2006-2007
resolved the said request/complaint. None of the com-plaints during the year remained pending for more than 2007-2008
Further, the company has also constituted a share trans- fer committee comprising 4 members under the Chair-manship of Sh. Dinesh Oswal, Sh. Dinesh gogna, Sh.
(iii) Special Resolution passed last year
K.S. Maini and Ms Manpreet Kaur are three other mem- through postal ballot.
bers of the committee. The committee is responsible for No Special resolution was passed during the approving the transfer and transmission of securities, dematerialisation of shares, issuance of duplicate share certificates and other shareholders related issues. The Proposal of Special Resolution through
committee met nine times during the period 1st July 2008 postal ballot
to 31st March, 2009 i.e. 30th July 2008, 30th August2008, 30th September 2008, 31st October 2008, 29th Presently, no special resolution is proposed November 2008, 31st December 2008, 31st January to be conducted through postal ballot.
2009, 28th February 2009 and 31st March 2009 and the DISCLOSURES
attendance of the members is as follows:- There have been no materially significant Name of the Member
No. of meetings held
No. of meetings
related party transactions that may have po- Upto 31.03.2009
attended
tential conflict with the interest of the com- pany at large. Transaction with related party are disclosed in Point no. 6 in the Notes on As per SEBI circular no. D&CC/FITTC/CIR-15/2002 dated 27TH December,2002, company has appointed M/s.
requirement of Stock Exchange, SEBI or any Alankit Assignments Ltd, as Registrar for Share Transfer statutory authority on all matters related to and Electronic Connectivity. Accordingly all the share- capital market during the last three years.
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
pany provide the facility of paying dividend the company by the said authorities relating through Electronics Clearing System (ECS).
The members desirous of availing the facilityof electronic credit of dividend are requested to ensure that their correct bank details blower policy as of now but no personnel is alongwith 9 digit MICR code of their Bank, is being denied any access to the Audit Com- note in the records of the Depository Partici- pant (DP). Members who hold the shares in physical form, should contact the R & T Agent or the Company in this regard. In order to pre- vent fraudulent encashment of dividend war- rants, members are requested to provide their company is yet to comply with the other non correct bank account details, to their DP in case of electronic holding and to the R&T Agent or the Company in case of physical holding.
MEANS OF COMMUNICATION
(c) Change of Address:
The Company's quarterly/yearly results in the for- noted that the R&T Agent and/or the Company mat prescribed by the Stock Exchanges are ap- will not entertain request for noting of change proved and taken on record by the Board within of address/bank details/ECS mandate in case the prescribed time frame and sent immediately of accounts with demat holding. For this pur- to all Stock Exchanges on which the Company's shares listed. These results are published in lead- ing newspapers i.e. Business Standard in En- Listing on Stock Exchanges : The National Stock
glish and Punjabi Tribune in vernacular. Our quar- Exchange of India Ltd (NSE) "Exchange Plaza", terly, Half yearly and Annual results are also dis- Bandra-Kurla Complex, Bandra (East) Mumbai played on the website of the Company i.e.
The Bombay Stock Exchange,Limited (BSE),1st owmnahar.in/ncfs. Whenever any official news is Floor, New Trading Ring,Rotunda Building, P.J.
released the same is also displayed on the afore- Towers, Dalal Street, Fort Mumbai - 400 001.
said website of the company. Likewise, whenever The listing fees payable to BSE and NSE for 2009- any presentation about the company's working is 10 have been paid in full by the company.
made to Financial Institutional Investors or to theanalysts, the same is displayed on company's Stock Code : For trading at NSE: NAHARCAP
GENERAL SHAREHOLDERS INFORMATION
Demat ISIN number in /
Annual General Meeting :30th September 2009
NSDL and /CDSL for equity shares :
Date, Day, time and Venue :11.00 A.M.
The annual custodian fees for the financial year 2009-10 have been paid to National Securities Depository Limited (NSDL) and Central Deposi- tory Services (India) Limited (CDSL).
Dedicated e-mail for Investor Grievance
Financial Calendar
To enable investors to register their grievances, the Company has designated an exclusive e-mail Compliance Officer
Date of Book Closure :
Ms. Manpreet Kaur, Company Secretary is the Dividend Payment
(a) Payment date
b) Mode of payment of dividend :
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
Market Price Data
telephone nos etc. have already been mentionedin the Directors' Report.
The Company's equity shares were listed at BSEand NSE. Accordingly the month wise High, Low In case any query/complaint remains unresolved stock prices from July, 2008 to March, 2009 are with our Registrar please write to Company Sec- retary at the Registered Office of the Company.
Bombay Stock Exchange National Stock Exchange
The company has constituted share transfer com- mittee consisting of three members, namely Sh.
Dinesh Oswal, Managing Director, Sh. Dinesh Gogna and Prof. K.S. Maini Director. The share transfer committee meets once/twice in a month to approve the transfer/transmission/transposi- tion, issue of duplicate share certificates and duly transferred shares are generally dispatched within the prescribed period under the Compa- nies Act, 1956/Guidelines of the Stock Exchanges.
Source: Data has been taken from the website of the As required under clause 47(c) of the listing agree- Bombay Stock Exchange and National Stock Exchange.
ments entered into by the Company with the Stock The Company does not have any other sources for veri- Exchanges, a certificate is obtained every six months from a practicing Company Secretary with Performance in comparison to broad based in-
regard to inter alia, effecting transfer, transmis- dices such as BSE Sensex:
sion, sub-division, consolidation, renewal andexchange of equity shares within one month of The Company's equity shares were listed at BSE their lodgement. The certificates are forwarded to BSE and NSE, where the equity shares are listed.
Nahar Capital and Financial Services Limited clos-ing price variation and BSE Sensex in percentage from July 2008 to March 2009 is as under: Individual shareholders holding physical shares Financial Year
Share Prices of
BSE Sensex
can nominate any person for the shares held by Nahar Capital and Financial
them. This will save the nominee from going Services Limited
Lowest Closing
through the lengthy process of getting the shares later on transmitted to his/her name. For further over last
over last
details, shareholders may write to the RTA of the As on 31st March 2009 your Company had 19587 shareholders having a total of 16746167 equity shares. The following is the distribution of Source: Data has been taken from the website of theBombay Stock Exchange. The Company does not have Aggregate %age
any other sources for verification of data.
held holding
As per SEBI circular no. D &CC/FITTC/CIR-15/ 2002 dated 27th December 2002, Company has appointed M/s Alankit Assignments Ltd. New Delhias Registrar for Share Transfer and Electronic Connectivity. Accordingly all the Shareholders, Investors, Members of the Stock Exchanges, De- pository Participants and all other concerned are requested to send all communication in respect of Share Transfer, Demat/Remat, Change of Ad-dress etc. to our Registrar whose address and 16746167
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
XIV. THE SHAREHOLDING PATTERN AS ON MARCH 31, 2009 IS AS
Address for
Correspondence
Shares held by
No. of Shares
% of share-
XVIII. CEO/CFO CERTIFICATION
As required under Clause 49 of Listing Agree- ment, a Certificate duly signed by the FinanceController was placed at the meeting of Board of 16746167
SECRETARIAL AUDIT FOR RECONCILIATION OF
XV. DEMATERIALISATION OF SHARES
To facilitate holding and trading of securities in The Securities and Exchange Board of India has electronic form, your company has established directed vide Circular No.D&CC/FITTC/CIR-16/ connectivity with both the Depositories i.e. National 2002 dated 31st December, 2002 that all issuer Securities Depository Ltd.(NSDL) and Central De- companies shall submit a certificate of capital in- pository Services Ltd. (CDSL). The investors have tegrity, reconciling the total shares held in both an option to dematerialise their equity shares with the depositories, viz. NSDL and CDSL and inphysical form with the total issued/paid up capi- either of the Depositories. As on date 16038052 tal. The said certificate duly certified by a practic- comprising 95.77% of the total equity capital of ing Company Secretary is submitted to the Stock the company have been dematerialsed.
Exchanges within 30 days of the end of each quar- OUTSTANDING GDRS/ADRS/WARRANTS OR ANY
CONVERTIBLE INSTRUMENTS, CONVERSION
For AND ON BEHALF OF THE BOARD
DATE AND LIKELY IMPACT ON EQUITY
The company does not have any outstanding PLACE: LUDHIANA
JAWAHAR LAL OSWAL
GDRs/ADRs/Warrants or any Convertible Instru- DATED: 30th July, 2009
ments, which is likely to have any impact on the (CHAIRMAN)
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
MANAGING DIRECTOR'S DECLARATION
Pursuant to requirement of Clause 49 of the Listing Agreement, I hereby confirm that all Board Members and SeniorManagement Personnel (as defined in the above said Clause 49) of the Company have affirmed compliance with theCode of Conduct with the Board of Directors and Senior Management Personnel for the Period ended 31st March2009.
PLACE : LUDHIANA
Dinesh Oswal
DATED: 30th July, 2009
(Managing Director)
CERTIFICATE ON CORPORATE GOVERNANCE
Nahar Capital & Financial Services Limited, WE have examined the compliance of conditions of the Corporate Governance by Nahar Capital & Financial ServicesLimited for the Period ended 31st March 2009 as stipulated in Clause 49 of the Listing Agreement of the saidCompany with stock exchanges.
The compliance of conditions is the responsibility of the management. Our examination was limited to the proce-dures and implementations thereof, adopted by the Company, for ensuring the compliance of conditions of theCorporate Governance. It is neither an audit nor an expression of opinion on the financial statements of the Company.
In our opinion and to the best of our information and according to the explanations given to us, we certify that theCompany has complied with conditions of the Corporate Governance as stipulated in Clause 49 of the ListingAgreement.
We stated that no Investors Complaints/Grievances received during the Period ended 31st March 2009 is un-at-tended/pending for a period exceeding one month against the Company as per the records maintained by theShareholders /Investors Grievances Committee.
We further sate that such compliances is neither an assurance as to the future viability of the Company nor theefficiency or effectiveness with which the management has conducted the affaires of the Company.
For Gupta Vigg & Co.,
PLACE : LUDHIANA
VINOD KHANNA
DATED: 30th July, 2009
(Partner)
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
MANAGEMENT DISCUSSION AND ANALYSIS
Industry Structure and Developments
Besides, to improve the infrastructure of the country,Central Govt. has earmarked higher capital outlay for India has a rapidly growing financial market based on the development of infrastructure projects like power, sound fundamentals. It comprises of Banks, Financial road, port, telecom and other projects. These measures Institutions, Insurance Companies, Non Banking will definitely provide enhanced opportunities to the Financial Companies etc. The economic growth provided a huge opportunity to the financial service sectorincluding NBFC’s to expand its activities. The NBFC Moreover, the Indian Capital Markets have started recorded phenomenal growth in terms of number of moving upward and is returning to its pre crisis level.
entities and quantum of business. However last year This has not only improved the valuation of its assets because of sub prime crisis coupled with econimic but has also provided excellent opportunities to the slowdown, severely affected the financial markets company’s main business i.e. investment activities.
around the globe. Indian financial sector was not anexception to this crisis and was impacted though to a Though a bright future is envisaged for investment and lesser extent because of economic fundamental and financial activities but it is not immune from normal business threats and challenges. The business isprone to global capital market fluctuations and interest Undoubtedly last year been an exceptionally challenging rate. Any adverse change can impact the fortunes of year for the financial sector, But now with the economic recovery, the signs of which are clearly visible will gathermemontum and will definitely help the financial sector In addition to the above, the expected GDP Growth Rate to return to higher trajectory. The Indian Capital market of about 5.50% as compared to 8.7% in the previous have started witnessing considerable gains on year are also causes of concern for the financial sector.
expectations of stabilisation in the world economy. Better Likewise the entry of big Indian players in NBFC domestic fundamentals and political stability, will give business has also stiffened the competition which may further boost to the economy. However unsatisfactory impact the fortunes of the financial services sector. The progress of the monsoon is some cause of concern for lower inflows of foreign funds because of adverse the Indian economy but it is expected that the Country Capital Market conditions may also affect investment will be able to face this challenge and emerge as a However with the recovery of Indian economy coupled Your Company, as per Non Banking Financial (Non with the Govt. initiatives for infrastructure development Deposit Accepting or Holding) Companies Prudential projects, it is expected that the financial sector will be Norms Directions, 2007 of Reserve Bank of India, has able to improve its performance in the coming periods.
been categorised as a SYSTEMATICALLY IMPORTANT Your management is quite hopeful that by strategic planning and vision it will be able to meet the challenges COMPANY. Presently, your company is putting its concentrated attention on existing investment activitieswith long term perspective as well as doing trading Segment wise or Product wise performance
business to avail the benefits of short term investment/ The disclosure requirements of Accounting Standard financial opportunities in the present capital market 17, issued by the Institute of Chartered Accountants of India are not applicable as the main business activities Opportunities and Threats
of the company falls under single segment namely‘Investment Activities’.
The Indian Financial Sector, which was growing at areasonable rate of growth, was severely affected during Future Outlook
the last year. The economic meltdown and global The unprecedented financial turmoil and economic slow recession affected its performance. According to one down in the economies of major countries especially in school of thought the recession is always in the ‘V’ form.
U.S. and European Union adversely affected Indian Now the things have started moving in the right direction financial sector. But the emergence of improved and there are visible sign of global recovery. The Indian economic indicators such as Industrial production, economy too, because of its economic fundamentals is agriculture sector, core infrastructure sector and gradual likely to grow at a reasonable growth rate and this will revival of demand, indicate good economic recovery.
definitely translate into new business opportunities for Seeing the Indian economic recovery, the IMF has revised its growth estimates on July 8, 2009 from the earlier 4.5 NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
per cent to 5.4 per cent in 2009. Various economic survey disposition and all transactions are authorised, also point towards gradual emergence of optimistic recorded and reported correctly. The Company also sentiment and better outlook for the Indian economy in ensures compliance with all statutes and regulatory the coming periods. There are visible upside prospects for the near-term growth outlook. Despite adverse Further the company is also having internal audit conditions, Indian Financial markets have shown department, which carries out audit work throughout maturity and continue to function normally and hasexhibited stability with lower volatility because of its the year. The main objective of such audit is to test the adequacy and effectiveness of internal control systemslaid down by the Management and to suggest It is expected that India’s growth storey will remain strong, given the high domestic saving rate, soundfinancial system and growth supportive macro economic Besides, an audit committee consisting of three non- policy environment. Your company is looking at the future executive directors has been constituted. All the with cautious optimism and its strategy will be focused significant audit observation and follow up action thereon on reasonable growth, diversifying its investments, are taken care of by the audit committee. The audit expanding its business activities into new low beta committee met three times during the financial year securities, in due course of time so that it can utilize the available opportunities with caution and emerge as fullyintegrated financial services company.
Financial/operation performance
Risk and Concerns
The company has performed reasonably well during The global economic environment continues to remain the nine months’ period under review. The Company uncertain, although the rate of contraction in economic achieved an income of Rs.1502.80 Lacs with a net profit activities and the extent of pressures on financial before tax of Rs. 1418.37 Lacs. The detailed systems eased in the first quarter of 2009-10. Nascent performance has already been discussed in the and sporadic signs of improvements in the global Directors’ Report under the column Financial Review.
conditions do not suggest any clear trend, and there is Human Resources/Industrial Relations
uncertainty on the timing and pace of global recovery.
Beyond Balance Sheet lies company’s singly biggest The company being essentially an InvestmentCompany, its main sources of income is dividend/ Asset Human Resources. The company is of firm belief income receivable on investments in equity shares/ that the Human Resources are the driving force that Debentures/bonds/deposits made and held by it in other propels a company towards progress and success. The companies/Other Entities and Mutual Funds. Any company has a team of able and experienced adverse impact on the operations/businesses of the professionals to look after the affairs of the company.
investee company/Entity/Mutual Funds may impact the The company offers attractive compensation package to retain and motivate its professionals so that they can Further we would also like to share with you that the give their best. The total permanent employee’s strength financial business is always prone to risks of capital of the company was 16 as on 31st March 2009.
market fluctuations, Global developments, economic Cautionary Statement
risk, competition risk, interest rate volatility and economiccycle which can affect the fortunes of investment and Though the statement and views expressed in the above finance companies in both ways. Your company said report are on the basis of best judgment but the manages these risks by maintaining a conservative actual future results might differ from whatever is stated financial profile and by following prudent business and Internal Control Systems and their adequacy
FOR AND ON BEHALF OF THE BOARD
The Company has adequate internal control systemsand procedures which commensurate with the natureof its business and the size of its operations. The internal JAWAHAR LAL OSWAL
control system are adequate to ensure that all assets and resources of the company are safeguarded andprotected against loss from unauthorized use or NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
AUDITOR’S REPORT
The Balance Sheet, Profit & Loss Account and CashFlow Statement dealt with by this report are in M/S NAHAR CAPITAL & FINANCIAL SERVICES LIMITED,
L U D H I A N A.
In our opinion, the Balance Sheet, Profit & Loss We have audited the attached Balance Sheet of M/s Account and Cash Flow Statement dealt with by this Nahar Capital & Financial Services Limited, Ludhiana report comply with the accounting standards (the Company) as at 31st March, 2009 and also Profit & referred to in sub-section (3C) of Section 211 of the Loss Account and the Cash Flow Statement for the pe- riod ended on that date annexed thereto. These financialstatements are the responsibility of the Company's Man- On the basis of written representations received agement. Our responsibility is to express an opinion on from the Directors as on 31st March, 2009 and taken these financial statements based on our audit.
on record by the Board of Directors, we report thatnone of the Directors is disqualified as on 31st We conducted our audit in accordance with auditing stan- March, 2009 from being appointed as a Director in dards generally accepted in India. Those Standards re- terms of Clause (g) of sub-section (1) of Section quire that we plan and perform the audit to obtain rea- sonable assurance about whether the financial state-ments are free of material misstatement. An audit in- In our opinion and to the best of our information and cludes examining, on a test basis, evidence supporting according to the explanations given to us, the said ac- the amounts and disclosures in the financial statements.
counts read together with the Schedule-15 of Notes on An audit also includes assessing the accounting prin- Accounts thereon, give the information required by the ciples used and significant estimates made by man- Companies Act, 1956, in the manner so required and agement, as well as evaluating the overall financial state- give a true and fair in conformity with the accounting prin- ment presentation. We believe that our audit provides a in the case of the Balance Sheet, of the state of af- As required by the Companies (Auditors' Report) Order, fairs of the Company as at 31st March, 2009; 2003 {as amended by the Companies (Auditor's Report)(Amendment) Order, 2004} issued by the Central Gov- (ii) in the case of the Profit & Loss Account, of the profit ernment of India in terms of sub-section (4A) of Section 227 of the Companies Act, 1956, we enclose in the an-nexure a Statement on the matters specified in Para- (iii) in the case of Cash Flow Statement, the Cash Flows of the Company for the period ended on that date.
Further to our comments in the Annexure referred to inParagraph above, we report that:- For GUPTA VIGG & CO.
explanations, which to the best of our knowledge and belief were necessary for the purpose of ouraudit; (VINOD KHANNA)
In our opinion, proper books of account as required by law have been kept by the Company so far as appears from our examination of those books; NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
ANNEXURE TO AUDITOR’S REPORT
(Referred to in paragraph (3) thereof)
which are repayable on demand, thequestion of overdue amount does not arise.
The Company has maintained properrecords showing full particulars including quantitative details and situation of fixed parties listed in the register maintained u/s All the fixed assets have been physically verified by the management during the year.
verification is reasonable and no material section 301 of the companies Act, 1956.
During the year, the company has not sold year was Rs.34.09 crores and the year endbalance was Rs. 12.57 crores.
As explained to us, Inventories (Investments held for sale) have been In our opinion, the rate of interest & other terms & conditions on which loans have been taken are not prejudicial to the interestof the company.
In our opinion and according to theinformation and explanations given to us, the procedure of physical verification of inventories followed by the managementis reasonable and adequate in relation to In our opinion and according to the information the size of the company and the nature of and explanations given to us, there are adequate internal control system commensurate with thesize of the Company and nature of its business On the basis of our examination of inventory with regards to purchase of inventory, fixed assets records, we are of opinion that the Company and with regard to the sale of goods and services.
During the course of our audit, we have not inventory. As explained to us, no material observed any major weakness in internal control.
discrepancies were notice on physicalverification of inventories as compared to information and explanations given to us,we are of opinion that the transaction made in pursuance of contracts or arrangements that needed to be entered in the register the Register maintained under section 301 amount involved during the year was Rs.
2.50 crores and the year end balance was information and explanations given to us,there are no transactions made in In our opinion the rate of interest wherever applicable and other terms and conditions Companies, firms or other parties listed in the registers maintained under section 301 the year to Rs. 5.00 lacs or more in respect NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
According to the information and explanations In respect of dealing or trading in shares, securi- given to us, the Company has not accepted any ties, debentures and other investments, the Com- public deposits during the year and therefore, pany is maintaining proper records and timelyentries have been made therein. All of Investments the provisions of Clause 4(vi) of the Order are have been held by the Company in its name.
The Company has not given any guarantee for The Company is in the process of implementing loans taken by others from banks or financial in- the internal audit system commensurate with its stitutions. Accordingly, the provisions of Clause 4(xv) of the Order are not applicable to the Com-pany.
The provisions of Clause 4(viii) of the Order arenot applicable to the Company.
The Company has not raised any term loan dur-ing the year. Accordingly, the provisions of Clause 4(xvi) of the Order are not applicable to the Com- provident fund, investor education andprotection fund, income tax, wealth tax, The Company has not raised any loans on short-term basis during the year. Accordingly, the provi- service tax and other material statutory dues sions of Clause 4(xvii) of the Order are not appli- applicable to the Company, if any, have been regularly deposited with appropriateauthorities. According to the information and According to the information and explanations given to us, the Company has not made any pref- erential allotment of shares during the year to aforesaid dues were outstanding as at 31st parties and companies covered in the Registermaintained under section 301 of the Companies March, 2009, for a period of more than six months from the date they became payable.
According to the information and explanations given to us, the Company has not issued deben- tures during the year. Accordingly, the provisions of Clause 4(xix) of the Order are not applicable to According to the information and explanations given to us, the Company has not raised any The Company has no accumulated losses at 31st money by way of public issue during the year. Ac- March, 2009 and has not incurred any cash cordingly, the provisions of Clause 4(xx) of the losses in the financial year covered under audit.
Order are not applicable to the Company.
In our opinion and according to the information According to the information and explanations and explanations given to us, the Company has given to us, no fraud on or by the Company has neither taken any loans from the banks nor any been noticed or reported during the year.
debentures. Accordingly, the provisions of Clause4(xi) of the Order are not applicable to the Com-pany.
For GUPTA VIGG & CO.
According to the information and explanations given to us, the Company has not granted any loansand advances on the basis of security by way ofpledge of shares, debentures and other securi- (VINOD KHANNA)
ties. Therefore, the provisions of Clause 4(xii) of the Order are not applicable to the Company.
The Company is not a chit fund or a nidhi mutualbenefit fund/society. Accordingly, the provisions ofClause 4(xiii) of the Order are not applicable tothe Company.
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
CASH FLOW STATEMENT FOR THE PERIOD FROM 1ST JULY, 2008 TO 31ST MARCH, 2009 PURSUANT TO
CLAUSE 32 OF THE LISTING AGREEMENT
PARTICULARS
Current Period
Amount Rs.
CASH FLOW FROM THE OPERATING ACTIVITIES
Net Profit before Tax and Extrordinary items
141837102.43
Adjustments for:
129526.80
193145.91
-114852772.76
-21797870.01
-39232475.46
-31769336.30
30660511.70
-213492.77
-18939765.86
-195819365.75
-53982263.32
CASH FLOW FROM THE INVESTING ACTIVIES
-25560549.00
-193145.91
114852772.76
21797870.01
39232475.46
-1033867752.43
1293890993.68
410152664.57
CASH FLOW FROM FINANCING ACTIVIES
-15000000.00
125717880.00
-29388267.12
81329612.88
Net Cash from Financing Activities
437500014.13
1403265.29
438903279.42
FOR & ON BEHALF OF THE BOARD
For GUPTA VIGG & CO.
Chartered Accountants
DATE : 15/06/2009
VINOD KHANNA
H R KAPOOR
DINESH OSWAL
J.L. OSWAL
PLACE : LUDHIANA
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
BALANCE SHEET AS AT 31ST MARCH, 2009
PARTICULARS
SCHEDULE
CURRENT PERIOD (9 MONTHS)
AMOUNT RS.
TOTAL RS.
SOURCES OF FUNDS
1. SHAREHOLDER'S FUND
83730835.00
3985298016.02
4069028851.02
2. LOAN FUNDS
125717880.00
4194746731.02
APPLICATION OF FUNDS
1. FIXED ASSETS
26000.00
19674.00
2. INVESTMENTS
3629285665.00
3. CURRENT ASSETS, LOANS & ADVANCES
54776336.29
438903279.42
95716684.94
589396300.65
LESS : CURRENT LIABLITIES & PROVISIONS
2847399.53
21496089.50
24343489.03
Net Current Assets
565052811.62
4. MISCELLANEOUS EXPENDITURE
(To the extent not written off or adjusted) 388580.40
4194746731.02
NOTES ON ACCOUNTS
FOR & ON BEHALF OF THE BOARD
For GUPTA VIGG & CO.
Chartered Accountants
DATE : 15/06/2009
VINOD KHANNA
H R KAPOOR
DINESH OSWAL
J.L. OSWAL
PLACE : LUDHIANA
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
PROFIT & LOSS A/C FOR THE NINE MONTHS PERIOD ENDED 31ST MARCH, 2009
PARTICULARS
SCHEDULE
CURRENT PERIOD (9 MONTHS)
AMOUNT RS.
TOTAL RS.
150280058.90
EXPENDITURE
2184870.37
196573.81
5858721.27
199628.02
8442956.47
PRE-TAX PROFITS
141837102.43
-11700000.00
PROFIT AFTER TAX
130137102.43
APPROPRIATION
8373083.50
1423006.00
26200000.00
94141012.93
130137102.43
Earning Per Share (Face Value Rs. 5/- each) NOTES ON ACCOUNTS
FOR & ON BEHALF OF THE BOARD
For GUPTA VIGG & CO.
Chartered Accountants
DATE : 15/06/2009
VINOD KHANNA
H R KAPOOR
DINESH OSWAL
J.L. OSWAL
PLACE : LUDHIANA
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
SCHEDULES TO THE ACCOUNTS
PARTICULARS
CURRENT PERIOD (9 MONTHS)
AMOUNT RS.
SHARE CAPITAL
a) AUTHORISED
150000000.00
b) ISSUED SUBSCRIBED & PAID UP
83730835.00
RESERVE AND SURPLUS
1259171063.00
2492985940.09
Add:Transferred from Profit & Loss Account 94141012.93 2587126953.02
112800000.00
26200000.00
139000000.00
3985298016.02
UNSECURED LOANS
125717880.00
FIXED ASSETS
Office Equipment
26000.00
26000.00
Net Block
19674.00
5. INVESTMENTS
Long Term Investments
UNQUOTED (AT COST)
645 Equity Shares of Rs.10/- each fully paid up of Palam Motels Ltd.
947879.00
Sub Total
947879.00
947879.00
II) OTHERS
QUOTED (AT COST)
8884637 Equity Shares of Rs.5/- each fully paid up of Nahar 505883603.14
Spinning Mills Ltd. (Previous Year 8662582) 11364846 Equity Shares of Rs.5/- each fully paid up of Nahar Poly 272991273.25
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
9336745 Equity Shares of Rs.10/- each fully paid up of 997388701.87
Nahar Industrial Enterprises Ltd. (Previous Year 9336745) 50 Equity Shares of Rs. 10/- each fully paid up of Malwa Cotton Spinning Mills Ltd. (Previous Year 50) 169300 Equity Shares of Rs.10/-each fully paid up of PNB Gilts Limited 5079000.00
19619 Equity Shares of Rs.10/- each fully paid up of Punjab National Bank 10580145.86
227001 Equity Shares of Rs.10/- each fully paid up of Allahabad Bank 2270010.00
60000 Equity Shares of Rs.10/-each fully paid up of Uco Bank 720000.00
20000 Equity Shares of Rs.10/-each fully paid up of Abhishek Industries Ltd.
594738.43
4500 Equity Shares of Rs.10/- each fully paid up of Bharat Electronics Ltd.
7166580.37
205000 Equity Shares of Rs.10/-each fully paid up of Petronet LNG Ltd.
3075000.00
12000 Equity Shares of Rs.10/- each fully paid up of Bank of Maharashtra 276000.00
25500 Equity Shares of Rs.10/-each fully paid up of Gas Authority of India Ltd.
3692532.62
3686 Equity Shares of Rs.1/-each fully paid up of 1566550.00
Tata Consultancy Services Ltd. (Previous Year 3686) 500797 Equity Shares of Rs.10/-each fully paid up of Vardhman Acrylics Ltd.
4888836.22
23327 Equity Shares of Rs. 10/- each fully paid up of 1101794.72
Rama Newsprint & Paper Ltd. (Previous Year 23327) 35000 Equity Shares of Rs.10/-each fully paid up of 5378700.34
National Thermal Power Corporation Ltd. (Previous Year 35000) 36621 Equity Shares of Rs.10/- each fully paid up of LML Ltd.
983267.44
4000 Equity Shares of Rs.10/- each fully paid up of Maruti Suzuki Ltd.
3452052.65
3965 Equity Shares of Rs.10/-each fully paid up of HDFC Bank Ltd.
2216692.86
(Previous Year 115000 Equity Shares of Rs. 1/- each fully paid up of 30000 Equity Shares of Rs.10/- each fully paid up of Ispat Industries Ltd.
949414.18
20000 0.01% Preference Shares of Rs.10/- each fully paid up of 632942.78
Ispat Industries Ltd. (Previous Year 20000 ) 9789 Equity Shares of Rs.10/- each fully paid up of Jindal Polyfilms Ltd.
3524040.00
20000 Equity Shares of Rs.10/- each fully paid up of Reliance Natural 3124684.75
4000 Equity Shares of Rs.10/- each fully paid up of Reliance Capital Ltd.
8587768.93
13000 Equity Shares of Rs.10/- each fully paid up of Canara Bank 3464118.96
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
3000 Equity Shares of Rs.2/- each fully paid up of Larsen & Toubro Ltd.
5337170.08
22284 Equity Shares of Rs.10/- each fully paid up of Reliance Power Ltd.
6267493.89
5000 Equity Shares of Rs.10/- each fully paid up of Syndicate Bank Ltd.
250000.00
5000 Equity Shares of Rs.10/- each fully paid up of Axis Bank Ltd.
3857008.21
6000 Equity Shares of Rs.10/- each fully paid up of ICICI Bank Ltd.
5170775.76
104500 Equity Shares of Rs.10/-each fully paid up Tata Teleservice Ltd.
3303534.80
2900 Equity Shares of Rs.10/- each fully paid up of CMC Ltd.
1541841.83
115000 Equity Shares of Rs.10/- each fully paid up of Industrial Finance 4017596.85
Corporation of India (Previous Year 115000) 23000 Equity Shares of Rs.10/-each fully paid up of SI Group – India Ltd.
1856116.37
40000 Equity Shares of Rs.1/- each fully paid up of Pricol Ltd.
1935383.80
40000 Equity Shares of Rs.10/-each fully paid up of Power Grid Corporation 4980312.50
4000 Equity Shares of Rs.10/- each fully paid up of Aarti Drugs Ltd.
454026.21
29000 Equity Shares of Rs.10/-each fully paid up of Container Corporation 29202176.38
31260 Equity Shares of Rs.2/-each fully paid up of Jaiprakash Associates Ltd. 10076219.68
85000 Equity Shares of Rs.10/-each fully paid up of Jaiprakash Hydro-Power 6177660.51
Nil Equity Shares of Rs.10/-each fully paid up of Oil and Natural Gas 8500 Equity Shares of Rs.10/-each fully paid up of Reliance Industries Ltd.
21601490.41
28936 Equity Shares of Rs.10/-each fully paid up of Reliance Petroleum Ltd.
1736160.00
7208 Equity Shares of Rs.10/-each fully paid up of State Bank of India 11775781.24
18000 Equity Shares of Rs.10/-each fully paid up of Tata Motors Ltd.
14647876.45
35839 Equity Shares of Rs.10/-each fully paid up of Vardhman Textiles Ltd.
10652046.55
9559 Equity Shares of Rs.10/-each fully paid up of Kingfisher Airlines Ltd.
1103902.89
10943 Equity Shares of Rs.2/- each fully paid up of Sterlite Industries Ltd.
9746837.81
8000 Equity Shares of Rs.2/- each fully paid up of DLF Ltd.
6838949.97
24172 Equity Shares of Rs.10/- each fully paid up of Idea Cellular Ltd.
2632754.74
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
4081 Equity Shares of Rs.10/- each fully paid up of Swaraj Mazda Ltd.
1445336.81
11000 Equity Shares of Rs.10/- each fully paid up of Reliance 21249584.82
Infrastructure Ltd. (Previous Year 11000) 100000 Equity Shares of Rs.2/- each fully paid up of Shiva Cement Ltd.
1923437.61
150000 Equity Shares of Rs.1/- each fully paid up of Karuturi Networks Ltd.
3884677.09
6500 Equity Shares of Rs.10/- each fully paid up of Bharat Heavy 14853571.30
15518 Equity Shares of Rs.5/- each fully paid up of Havell India Ltd.
10310993.03
30000 Equity Shares of Rs.10/- each fully paid up of J.K. Tyre and 4712065.78
5000 Equity Shares of Rs.10/- each fully paid up of Gremach 1749011.02
Infrastructure Equipments and Projects Ltd. (Previous Year 5000) 14500 Equity Shares of Rs.10/- each fully paid up of Mundra Port & special 10131387.10
Nil units of Deep Discount Bonds of ICICI Ltd. In the nature of promissory notes of Rs. 100000/- each tenor 7 years with assured yield.
328251, 6.6% Tax Free ARS Bonds Guaranteed by Government of 32825100.00
India fully paid up of Rs.100/- each of UTI. (Previous Year 328251, Nil units of Rs.10/- each fully paid up of HDFC Mutual Fund Monthly Income Plan Long Term (Growth Option), an open ended scheme.
2000000.000 units of Rs.10/- each fully paid up of Tata SIP Fund Scheme II 20000000.00
(Dividend Payout Option), a close ended scheme.
1955990.220 units of Rs.10/-each fully paid up of Reliance Equity Advantage 20000000.00
Fund (Dividend Payout Option), an open-ended Equity Fund.
1500000.000 units of Rs.10/-each fully paid up of Birla Capital Protection 15000000.00
Oriented Fund (Growth Option), a close ended scheme.
Nil units of Rs.10/- each fully paid up of UTI MIS Advantage Plan (Growth Option), an open ended equity Fund. (Previous Year 1964275.254 units) Nil units of Rs.10/-each fully paid up of Prudential ICICI Income Multiplier Fund (Growth Option), an open ended scheme. (Previous Year 5202322.837 units) Nil units of Rs.10/- each fully paid up of HSBC Fixed Term S-33 Growth Option), a close ended income scheme. (Previous Year 1000000.000) 1000000.000 units of Rs.10/-each fully paid up of Kotak Global Emerging 10000000.00
Market Fund (Growth Option), a close ended scheme.
Nil units of Rs.10/- each fully paid up of HDFC Top 200 Fund (Growth Option), an open ended equity Fund. (Previous Year 5355.729 units) Nil units of Rs.10/- each fully paid up of Lotus India Fixed Maturity Plan S-4 (Growth Option), a close-ended income scheme. (Previous Year 2000000.000) NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
1000000.000 units of Rs.10/- each fully paid up of Franklin Templeton Fixed 10000000.00
Horizon Fund S-IX Plan D (Growth Option), a close-ended income scheme.
975609.756 units of Rs.10/- each fully paid up of Fortis China India Fund, 10000000.00
(Dividend Payout Option), an open ended equity fund.
787876.023 units of Rs.10/- each fully paid up Franklin Templeton India Smaller 7878760.23
Companies Fund (Growth Option), an open ended equity Fund.
22000000.000 units of Rs.10/- each fully paid up of HDFC Fixed Maturity Plan 220000000.00
(Growth Option), a Close-ended income scheme.
5000000.000 units of Rs.10/- each fully paid up of Principal PNB Fixed 50000000.00
Maturity Plan (Growth Option), a close ended income scheme.
1000000.000 units of Rs.10/- each fully paid up of Religare Infrastructure 10000000.00
Fund (Dividend Option), a Close-ended Equity Fund.
9251.658 units of Rs.1017.7258/- each fully paid up of Reliance Gold 9415651.34
Exchange Traded Fund (Dividend Payout Option), an open ended gold fund.
13169340.000 units of Rs.10/- each fully paid up of Reliance Fixed Horizon 131693400.00
Fund (Growth Option), a Close-ended income scheme Nil units of Rs.10/- each fully paid up of ING Fixed Maturity Fund S-32 (Growth Option), a Close-ended income scheme.
36703.282 units of Rs.10/- each fully paid up of JM Basic Fund 1250000.00
(Growth Option), an Open-ended equity Fund. (Previous Year 36703.282) 5000000.000 units of Rs.10/- each fully paid up of IDFC Enterprise Equity 50000000.00
Fund, (Growth Option), an open ended equity Fund.
489000.000 units of Rs.10/- each fully paid up of DSP Merrill Lynch Small 5000025.00
and Midcap Fund (Dividend Option), an open ended equity Fund.
1178389.542 units of Rs.10/- each fully paid up of Fidelity India Special 15000000.00
Situation Fund (Dividend Option), an Open-ended equity Fund.
8153.521 units of Rs.10/- each fully paid up of HDFC Prudence Fund 1250000.00
(Growth Option), an Open-ended equity Fund. (Previous Year 8153.521) 38296.569 units of Rs.10/- each fully paid up of ICICI Prudential 1250000.00
Infrastructure Fund (Growth Option), an Open-ended equity Fund.
228125.351 units of Rs.10/- each fully paid up of Tata Infrastructure Fund 5100000.00
(Growth Option), an Open-ended equity Fund.
1000000.000 units of Rs.10/- each fully paid up of Tata Capital Builder 10000000.00
Fund (dividend Option), an Open-ended equity Fund.
16435.971 units of Rs.10/- each fully paid up of Reliance Power Diversified 1250000.00
Sector Fund (Growth Option), an Open-ended equity Fund.
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
2000000.000 units of Rs.10/- each fully paid up of Sundaram BNP Paribas 20000000.00
Select Thematic Fund Energy Opportunities (Dividend Payout Option), a close ended equity Fund. (Previous Year 2000000.000) 1000000.000 units of Rs.10/- each fully paid up of UTI Wealth Builder Fund 10000000.00
(dividend Option), a Close-ended scheme (Previous Year 1000000.000 units) Nil units of Rs.10/-each fully paid up of Kotak Flexi FOF-Series 2 (Dividend Option), a Close-ended scheme. (Previous Year 1482347.190 units) 1000000.000 units of Rs.10/- each fully paid up of ING Global Real 10000000.00
Estate Fund (Growth Option), an open-ended Debt Fund.
1000000.000 units of Rs.10/- each fully paid up of Reliance Long Term 10000000.00
Equity Fund (dividend Option), an open-ended equity Fund 1000000.000 units of Rs.10/- each fully paid up of SBI One India Fund 10000000.00
(dividend Option), an open ended equity Fund.
3000000.000 units of Rs.10/- each fully paid up of Sundaram Fixed Term 30000000.00
Plan-H (Growth Option), a Close-ended income scheme.
3000000.000 units of Rs.10/- each fully paid up of Franklin Templeton 30000000.00
Capital Safety Fund (Growth Option), a close-ended income scheme.
1000000.000 units of Rs.10/-each fully paid up of Kotak Dynamic Asset 10000000.00
Allocation (Growth Option), an open ended scheme.
1000000.000 units of Rs.10/- each fully paid up of Birla Fixed Term Plan 10000000.00
(Growth Option), a Close-ended income scheme.
1000000.000 units of Rs.10/- each fully paid up of Tata SIP Fund Scheme 10000000.00
I (Dividend Option), a Close-ended income scheme.
10000000.000 units of Rs.10/- each fully paid up of UTI Fixed Maturity 100000000.00
Plan (Growth Option), a Close-ended income scheme.
1000000.000 units of Rs.10/- each fully paid up of HSBC Unique 10000000.00
Opportunities Fund (Dividend Option), an open-ended equity Fund.
2000000.000 units of Rs.10/- each fully paid up of ICICI Prudential Real 20000000.00
Estate Securities Fund (Growth Option), a close ended debt fund.
Nil units of Rs.10/- each fully paid up of Birla MIP II Wealth 25 Plan (Growth Option), an Open-ended scheme.
2000000.000 units of Rs.10/- each fully paid up of Kotak Fixed 20000000.00
Maturity Plan S-2 (Growth Option), a Close-ended income scheme.
Nil units of Rs.10/- each fully paid up of Franklin Templeton Monthly Income Plan B (Growth Option), an open ended scheme.
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
Nil units of Rs.10/- each fully paid up of HSBC MIP Savings Plan (Growth Option), an open ended scheme.
2000000.000 units of Rs.10/- each fully paid up of Kotak Indo Global 20000000.00
Infrastructure Fund (Dividend Payout Option), an close ended fund.
Nil units of Rs.10/- each fully paid up of DSP-ML Opportunities Fund (Growth Option), an open-ended equity Fund.
Nil units of Rs.10/- each fully paid up of DSP-ML Small & Midcap Fund (Growth Option), an open-ended equity Fund.
Nil units of Rs.10/- each fully paid up of Franklin India Flexi Cap Fund (Growth Option), an open-ended equity Fund.
Nil units of Rs.10/- each fully paid up of HDFC Equity Fund (Growth Option), an open-ended equity Fund. (Previous Year 1992.484 units) Nil units of Rs.10/- each fully paid up of HSBC India Opportunities Fund (Growth Option), an open-ended equity Fund.
Nil units of Rs.10/- each fully paid up of Prudential ICICI Dynamic Plan (Growth Option), an open-ended equity Fund.
Nil units of Rs.10/- each fully paid up of Reliance Equity Opportunities Fund (Growth Option), an open-ended equity Fund.
Nil units of Rs.10/- each fully paid up of Reliance Vision Fund (Growth Option), an open-ended equity Fund.
977995.110 units of Rs.10/- each fully paid up of AIG Equity Fund 10000000.00
(Dividend Option), an open-ended equity Fund.
1100000.000 units of Rs.10/- each fully paid up of DSP Merrill Lynch 11000000.00
Micro Cap Fund (Growth Option), an open-ended equity Fund.
1000000.000 units of Rs.10/- each fully paid up of HDFC Mid Cap 10000000.00
Oppurtunities Fund (Dividend Option), an open-ended equity Fund.
2000000.000 units of Rs.10/- each fully paid up of SBI Infrastructure 20000000.00
Fund (Dividend Option), an open-ended equity Fund.
Nil units of Rs.10/- each fully paid up of DSP Merrill Lynch Savings Plus Fund (Aggressive Growth), an open-ended Scheme.
Nil units of Rs.892.1526/- each fully paid up of Kotak Gold ETF, an open-ended Gold Fund. (Previous Year 22417.000) 4000000.000 units of Rs.10/- each fully paid up of DWS Fixed Term 40000000.00
Fund Series 59 (Growth Option), a Close-ended income scheme.
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
2000000.000 units of Rs.10/- each fully paid up of ICICI Prudential 20000000.00
Fixed Maturity Plan Series 45 3 Year Plan (Growth Option), a Close-ended income scheme. (Previous Year Nil units) Nil units of Rs.10/- each fully paid up of HDFC Arbitrage Fund (Growth Option) an open-ended Equity Fund.
975609.760 units of Rs.10/- each fully paid up of Birla Sunlife International 10000000.00
Equity Fund (Dividend Option) an open-ended Equity Fund.
2000000.000 units of Rs.10/- each fully paid up of Tata Indo Global 20000000.00
Infrastructure Fund (Dividend Option) a close-ended Equity Fund.
977995.110 units of Rs.10/- each fully paid up of Birla Sunlife Special 10000000.00
Situation Fund (Dividend Option) an open ended Equity Fund.
2000000.000 units of Rs.10/- each fully paid up of Fortis Fixed Term 20000000.00
Plan Series 10 (Growth Option), a Close-ended income scheme.
2000000.000 units of Rs.10/- each fully paid up of DSP Merrill Lynch 20000000.00
Fixed Maturity Plan 12.5M S-1 (Growth Option), a Close-ended income 4000000.000 units of Rs.10/- each fully paid up of Canara Robeco 40000000.00
Fixed Maturity Plan-2 (Growth Option), a Close-ended income scheme.
520735.695 units of Rs.10/- each fully paid up of HDFC High Interest 15000000.00
Fund (Growth Option) an open-ended income scheme 1983520.027 units of Rs.10/- each fully paid up of HDFC High Interest 22364021.34
Fund (Quarterly Dividend Reinvestment Option) an open-ended income 773323.436 units of Rs.10/- each fully paid up of HDFC Income Fund 15000000.00
(Growth Option) an open-ended income scheme (Previous Year Nil units) 4000000.000 units of Rs.10/- each fully paid up of Tata Fixed Horizon 40000000.00
Fund Series 18 (Growth Option), a Close-ended income scheme.
878251.304 units of Rs.10/- each fully paid up of SBI Magnum Income 9900000.00
Fund (Dividend Payout Option) an open-ended income scheme 2000000.000 units of Rs.10/- each fully paid up of SBI Debt Fund 20000000.00
Series 370 Days (Growth Option), a Close-ended income scheme.
843452.286 units of Rs.10/- each fully paid up of ICICI Prudential Short 10023915.21
Term Plan (Dividend Reinvest Option) an open-ended income scheme 985884.323 units of Rs.10/- each fully paid up of HDFC Short Term 10181345.64
Plan (Dividend Reinvest Option) an open-ended income scheme 100.000 units of Rs.100000/- each fully paid up ICICI Prudential 10000000.00
Defined Tenure Series Index Linked Debentures Series 1 of ICICI Prudential Asset Management Company Ltd. Portfolio Management NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
100.000 units of Rs.100000/- each fully paid up Birla Asset Linked 10000000.00
Portfolio - Accelerator - Series 3 of Birla Asset Management Company Ltd.
319.130 units of Rs.10/- each fully paid up Birla Sunlife Liquid Plus - Retail Growth Through Birla Asset Management Company Ltd.
41054.190 units of Rs.10/- each fully paid up of HDFC Cash Management 411835.11
Fund Treasury Advangtage Plan Wholesale Daily Dividend Reinvest, an open ended scheme. (Previous Year 6960367.920) 1235.157 units of Rs.10/- each fully paid up of HSBC Cash Fund 12895.00
Institutional Daily Divided, an open-ended scheme through HSBC Portfolio Management Services Ltd. (Previous Year 745023.567 units) 205618.000 units of Rs.10/- each fully paid up of Prudential ICICI Liquid 2057826.32
Super Inst. Plan (Dividend Weekly Option), An open ended scheme through Prudential ICICI Portfolio Management Services Ltd.
48996.000 units of Rs.10/- each fully paid up of Prudential ICICI Liquid 630822.09
Super Inst. Plan (Growth Option), An open ended scheme through Prudential ICICI Portfolio Management Services Ltd.
Nil units of Rs.100/- each of ICICI Venture India Advantage III, a Real Estate Fund through Prudential ICICI Portfolio Management Services Ltd.
Nil units of Rs.1000/- each of Kotak India Venture Fund I, Life Sciences & Biotech Fund through Kotak Mahindra Bank Ltd. (Previous Year 16000) 10.000 units of Rs.1000000/- each fully paid up Non Convertible 10000000.00
Debentures of DSP Merrill Lynch Capital-Cautions Series 2006/ak through DSP Merrill Lynch Portfolio Manager Ltd. (Previous Year 10.000 units) 200.000 units of Rs.100000/- each fully paid up secured redeemable 20000000.00
Guaranteed Non Convertible Debentures of DSP Merrill Lynch Capital Ltd.
10.000 units of Rs.980000/- each fully paid up Index Linked Debentures of 10200000.00
ICICI Prudential Asset Management Company Ltd. Portfolio Management Nil units of Rs.1000000/- each fully paid up Non Convertible Debentures of Citicorp Finance (India) Limited (Previous Year 10.000) Investments through HDFC Portfolio Management Services Ltd.
(HDFC Real Estate Portfolio-I)
2588346.053 units of Rs.10/- each fully paid up of HDFC Cash Management 25959833.34
Fund Treasury Advantage Plan - Weekly Dividend, an open ended scheme 26659.178 units of Rs.10/- each fully paid up of HDFC Cash Management 490113.00
Fund Savings Growth, an open ended scheme (Previous Year Nil units) Nil Equity Shares each fully paid up of Ansal Hi-Tech Townships Nil units of Debenture each fully paid up of Ansal Hi-Tech Townships Ltd.
Nil units of Debenture-I each fully paid up of Nilkanth Tech Park Pvt. Ltd.
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
Nil units of Rs.10/- each fully paid up of HDFC Cash Management Fund Treasury Advangtage Plan, (dividend Option), an open-ended scheme through HDFC Portfolio Management Services Ltd.
Investments through HDFC Portfolio Management Services Ltd. (Equity PMS)
Nil Equity Shares of Rs.10/- each of Sintex Industries Limited.
1392 Equity Shares of Rs.2/- each of Siemens Limited.
4818 Equity Shares of Rs.10/- each of Crompton Greaves Limited.
399255.33
514 Equity Shares of Rs.5/-each of Infosys Technologies Ltd.
827863.80
1429 Equity Shares of Rs.10/- each of ITC Limited. (Previous Year 7139) 248160.93
Nil Equity Shares of Rs.10/- each of Oil and Natural Gas Ltd.
Nil Equity Shares of Rs.10/- each of Indo Tech Transformers Ltd.
2171 Equity Shares of Rs.10/- each of HBL Nife Power Systems Ltd.
520178.08
503 Equity Shares of Rs.10/- each of Sun Pharmaceuticals Ltd.
453199.67
Nil Equity Shares of Rs.10/- each of Praj Industries Ltd.
3348 Equity Shares of Rs.10/- each of Everest Kanto Cylinder Ltd.
709005.96
470 Equity Shares of Rs.2/- each of Larsen & Toubro New Ltd.
3933 Equity Shares of Rs.10/- each of Savita Chemicals Ltd.
1024523.14
9300 Equity Shares of Rs.10/- each of Himatsingka Seide Ltd.
1200004.38
1395 Equity Shares of Rs.10/- each of Procter & Gamble India Ltd.
1190653.65
9000 Equity Shares of Rs.10/- each of Asahi India Safety Glass Ltd.
793429.00
Nil Equity Shares of Rs.10/- each of Gammon India Ltd.
299 Equity Shares of Rs.10/- each of State Bank of India 496041.69
Nil Equity Shares of Rs.10/- each of Maruti Udyog Ltd.
2722 Equity Shares of Rs.10/- each of Blue Star Ltd.
889229.92
7056 Equity Shares of Rs.10/- each of United Phpsphorous Ltd.
1183644.00
1156 Equity Shares of Rs.1/- each of Tata Consultancy Services Ltd.
566362.62
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
1574 Equity Shares of Rs.10/- each of ICICI Bank Ltd.
898760.86
13844 Equity Shares of Rs.10/- each of Zee News Ltd.
554654.32
1873 Equity Shares of Rs.10/- each of Bank of Baroda 377533.57
977 Equity Shares of Rs.10/- each of Bharat Petroleum Corporation Ltd.
329202.40
2100 Equity Shares of Rs.10/- each of Reliance Communication Ltd.
334043.82
3039 Equity Shares of Rs.10/- each of HCL Technologies Ltd.
319238.74
2892 Equity Shares of Rs.10/- each of Zee Entertainment 281627.30
12208 Equity Shares of Rs.10/- each of Dish TV India Ltd.
268336.72
1676 Equity Shares of Rs.10/- each of Pantaloon Retail India Ltd.
351906.13
739 Equity Shares of Rs.10/- each of The Jammu and Kashmir 251636.82
5456 Equity Shares of Rs.10/- each of Suzlon Energy Ltd.
228786.45
318 Equity Shares of Rs.10/- each of Bharti Airtel Ltd.
178607.21
226 Equity Shares of Rs.10/- each of Axis Bank Ltd.
140975.90
Investments through HSBC Portfolio Management Services Ltd.
Nil Equity Shares of Rs.10/- each of Aditya Birla Nuvo Ltd.
Nil Equity Shares of Rs.5/- each of Infosys Technologies Ltd.
Nil Equity Shares of Rs.10/- each of Grasim Industries Ltd.
Nil Equity Shares of Rs.10/- each of India Cements Ltd.
Nil Equity Shares of Rs.10/- each of Glenmark Pharmaceuticals Ltd.
Nil Equity Shares of Rs.10/- each of Reliance Communication Ltd.
Nil Equity Shares of Rs.10/- each of Jindal Steel and Power Ltd.
Nil Equity Shares of Rs.10/- each of Icici Bank Ltd. (Previous Year 378) Nil Equity Shares of Rs.10/- each of Infrastructure Development Finance Nil Equity Shares of Rs.10/- each of Rural Electrification Corparation Ltd.
Nil Equity Shares of Rs.10/- each of Tech Mahindra Ltd. (Previous Year 310) Nil Equity Shares of Rs.10/- each of Power Finance Corporation Ltd.
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
Nil Equity Shares of Rs.10/- each of Alok Industries Ltd. (Previous Year 2872) Nil Equity Shares of Rs.10/- each of Mphasis Ltd. (Previous Year 771) Nil Equity Shares of Rs.10/- each of Arvind Mills Ltd. (Previous Year 4386) Nil Equity Shares of Rs.2/- each of Jaiprakash Associates Ltd.
Nil Equity Shares of Rs.1/- each of Tata Consultancy Services Ltd.
Nil Equity Shares of Rs.10/- each of Reliance Industries Ltd.
Nil Equity Shares of Rs.10/- each of Satyam Computer Services Ltd.
Nil Equity Shares of Rs.10/- each of National Thermal Power Nil Equity Shares of Rs.10/- each of Chennai Petroleum Corporation Ltd.
Nil Equity Shares of Rs.10/- each of Tata Chemicals Ltd. (Previous Year 860) Nil Equity Shares of Rs.10/- each of Welspun Gujarat Stahl Rohren Ltd.
Nil Equity Shares of Rs.10/- each of Essar Oil Ltd. (Previous Year 940) Nil Equity Shares of Rs.10/- each of Bank of Baroda (Previous Year 456) Nil Equity Shares of Rs.10/- each of Idea Cellular Ltd.(Previous Year 320) Investments through Prudential ICICI Portfolio Management Services Ltd.
936 Equity Shares of Rs.10/- each of ABG Shipyard Ltd.
233477.52
Nil Equity Shares of Rs.10/- each of Asian Paints Ltd.(Previous Year 220) 198 Equity Shares of Rs.10/- each of Bharat Heavy Electricals Ltd.
62663.67
Nil Equity Shares of Rs.2/- each of Elecon Engineering Ltd.
Nil Equity Shares of Rs.10/- each of Hindustan Zinc Ltd.
Nil Equity Shares of Rs.10/- each of Hindustan DORR Oliver Ltd.
Nil Equity Shares of Rs.10/- each of Kec International Ltd.
Nil Equity Shares of Rs.1/- each of Patel Engineering Ltd.
1398 Equity Shares of Rs.5/- each of Reliance Communication Ltd.
519344.98
496 Equity Shares of Rs.10/- each of Sadbhav Engineering Ltd.
348192.74
Nil Equity Shares of Rs.2/- each of Sintex Industries Ltd.
Nil Equity Shares of Rs.10/- each of Subhash Projects & Marketing Ltd.
Nil Equity Shares of Rs.10/- each of Texmaco Ltd. (Previous Year 413) 77 Equity Shares of Rs.10/- each of TRF Ltd. (Previous Year 1017) 79299.04
Nil Equity Shares of Rs.10/- each of Voltamp Transformers Ltd.
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
Nil Equity Shares of Rs.10/- each of Lanco Infratech Ltd.
3042 Equity Shares of Rs.10/- each of Adhunik Metalinks Ltd.
457395.12
Nil Equity Shares of Rs.10/- each of Alok Industries Ltd.
Nil Equity Shares of Rs.2/- each of Amtek India Ltd. (Previous Year 1178) Nil Equity Shares of Rs.10/- each of Andhra Bank Ltd.
Nil Equity Shares of Rs.10/- each of Bharati Shipyard Ltd.
773 Equity Shares of Rs.10/- each of Bharti Airtel Ltd.
490610.96
Nil Equity Shares of Rs.10/- each of Bombay Rayons Fashions Ltd.
Nil Equity Shares of Rs.2/- each of Blue Star Ltd. (Previous Year 836) Nil Equity Shares of Rs.10/- each of D.S.Kulkarni Ltd. (Previous Year 680) Nil Equity Shares of Rs.2/- each of Deccan Chronicle Holdings Ltd.
563 Equity Shares of Rs.10/- each of Jammu & Kashmir Bank Ltd.
286055.57
Nil Equity Shares of Rs.2/- each of Everest Kanto Cylinder Ltd.
Nil Equity Shares of Rs.10/- each of Maruti Suzuki Ltd. (Previous Year 1185) Nil Equity Shares of Rs.10/- each of Mastek Ltd. (Previous Year 524) Nil Equity Shares of Rs.10/- each of Housing Development Finance Nil Equity Shares of Rs.10/- each of Oil & Natural Gas Cosporation Ltd.
370 Equity Shares of Rs.10/- each of PSL Ltd. (Previous Year 1665) 134905.70
Nil Equity Shares of Rs.10/- each of Pyramid Saimira Theatre Ltd.
Nil Equity Shares of Rs.10/- each of Reliance Energy Ltd.
349 Equity Shares of Rs.10/- each of State Bank of India Ltd.
594764.68
865 Equity Shares of Rs.2/- each of Tanla Solutions Ltd.
280349.96
Nil Equity Shares of Rs.10/- each of Tulip IT Service Ltd.
Nil Equity Shares of Rs.10/- each of Zensar Technologies Ltd.
Nil Equity Shares of Rs.10/- each of Gitanjli Gems Ltd. (Previous Year 2001) 707 Equity Shares of Rs.10/- each of ICICI Bank Ltd. (Previous Year 570) 291535.13
95 Equity Shares of Rs.5/- each of Infosys Technologies Ltd.
164705.88
353 Equity Shares of Rs.10/- each of Reliance Industries Ltd.
702922.97
Nil Equity Shares of Rs.10/- each of Orbit Corporation Ltd.
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
Nil Equity Shares of Rs.10/- each of Tata Steel (Previous Year 350) 905 Equity Shares of Rs.10/- each of Champagne Indage Ltd.
363577.78
Nil Equity Shares of Rs.10/- each of Shivvani Oil and Gas Exploration 2167 Equity Shares of Rs.10/- each of KRBL Ltd.(Previous Year 4092) 360446.64
1012 Equity Shares of Rs.2/- each of Dishman Pharma & Chemicals Ltd.
295946.65
Nil Equity Shares of Rs.10/- each of Gail India Ltd.(Previous Year 1215) 370 Equity Shares of Rs.2/- each of Larsen & Toubro Ltd.
1205 Equity Shares of Rs.1/- each of ITC Ltd. (Previous Year 1341) 205635.30
Nil Equity Shares of Rs.10/- each of Mahanagar Telephone Nigam Ltd.
Nil Equity Shares of Rs.10/- each of Patni Computer Ltd.
535 Equity Shares of Rs.10/- each of Tech Mahindra GA.
442202.32
2200 Equity Shares of Rs.10/- each of NIIT Technologies Ltd.
294664.92
Nil Equity Shares of Rs.10/- each of Zee Entertainment Enterprises Ltd.
198 Equity Shares of Rs.10/- each of Tata Power Ltd.(Previous Year 184) 141946.99
Nil Equity Shares of Rs.10/- each of TIL Ltd. (Previous Year 720) Nil Equity Shares of Rs.10/- each of Jindal Saw Ltd. (Previous Year 479) 654 Equity Shares of Rs.1/- each of Adani Enterprises Ltd.
169116.23
514 Equity Shares of Rs.10/- each of Axis Bank Ltd. (Previous Year Nil) 218938.61
87 Equity Shares of Rs.10/- each of Bajaj Auto Ltd. (Previous Year Nil) 28783.55
1277 Equity Shares of Rs.10/- each of Federal Bank Ltd.
194750.55
281 Equity Shares of Rs.10/- each of ICRA (Previous Year Nil) 118910.15
1639 Equity Shares of Rs.10/- each of Indraprastha Gas Ltd.
178988.14
994 Equity Shares of Rs.2/- each of IVRCL Infra and Projects Ltd.
146139.27
109 S & P Nifty Option 3000 PUT April 2009 (Previous Year Nil) 11187.67
2112 Equity Shares of Rs.10/- each of Power Trading Corporation Ltd.
144110.21
459 Equity Shares of Rs.10/- each of Punjab National Bank 205660.92
2001 Equity Shares of Rs.10/- each of Rural Electrification 124336.14
156 Equity Shares of Rs.10/- each of Sun Pharmaceuticals 161345.45
909 Equity Shares of Rs.10/- each of Tata Chemicals Ltd.
145316.29
Sub Total
3528787939.03
3825649485.28
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
UNQUOTED (AT COST)
2250000 Equity Shares of Rs.10/- each fully paid up of Oswal 7500000.00
Woollen Mills Ltd. (Previous Year 2250000) 250000 Equity Shares of Rs.10/-each fully paid up of Nimbua 2500000.00
Greenfield (Punjab) Ltd. (Previous Year 250000) 748250 Equity Shares of Rs.1/- each fully paid up of Delhi Stock 52377500.00
5000 Equity Shares of Rs.10/- each fully paid up of Essar Steel Ltd.
334041.97
87000.000 units of Rs.100/- each of ICICI Venture India Advantage III, 8700000.00
a Real Estate Fund through Prudential ICICI Portfolio Management 16000.000 units of Rs.1000/- each of Kotak India Venture Fund I, Life 5600000.00
Sciences & Biotech Fund through Kotak Mahindra Bank Ltd.
10.000 units of Rs.1000000/- each fully paid up Non Convertible 10000000.00
Debentures of Citicorp Finance (India) Limited (Previous Year Nil) Investments through HDFC Portfolio Management Services Ltd.
(HDFC Real Estate Portfolio-I)
21100 Equity Shares each fully paid up of Ansal Hi-Tech Townships 1861765.00
2503 Preference Shares each fully paid up of Ananta Landmarks 2503000.00
409 Preference Shares each fully paid up of Neo Pharma Pvt. Ltd.
409000.00
10484 Equity Shares each fully paid up of Ananta Landmarks Pvt. Ltd.
104840.00
37229.000 units of Debenture each fully paid up of Ansal Hi-Tech 3722900.00
17385.000 units of Debenture-I each fully paid up of Nilkanth Tech 1738500.00
14300.000 units of Debenture-II each fully paid up of Nilkanth Tech Park 1430000.00
3951.000 units of Debenture-III each fully paid up of Nilkanth Tech Park 395100.00
3732.000 units of Debenture-IV each fully paid up of Nilkanth Tech Park 373200.00
Sub Total
99549846.97
62711541.97
3629285665.00
3889308906.25
3528787939.03
3825649485.28
100497725.97
63659420.97
2184322271.62
2908005937.16
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
PARTICULARS
CURRENT PERIOD (9 MONTHS)
AMOUNT RS.
TOTAL RS.
CASH & BANK BALANCES
286381.17
1213297.00
437399254.00
438898932.17
438903279.42
LOANS AND ADVANCES
(Unsecured Considered good unless otherwise stated) a) Loan/Deposits with other Bodies Corporate 15000000.00
b) Advances Recoverable is in cash or in kind or for value to be 35352849.08
25560549.00
60913398.08
19803286.86
95716684.94
CURRENT LIABILITIES
462997.53
663365.00
1213297.00
147616.00
359805.00
2847399.53
PROVISIONS
8373083.50
1423006.00
11700000.00
21496089.50
10. OPERATING/OTHER INCOME
Gain/Loss from Trading of Shares/Securities
143612435.56
54776336.29
-138640147.19
-85436847.99
-25688223.33
Dividend Income
37607633.31
37607633.31
Income from Unit Trust of India
1624842.15
Interest Income-Gross
21797870.01
Profit/Loss on Sale of Investment
131197300.49
-16344527.73
114852772.76
76092.00
150280058.90
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
PARTICULARS
CURRENT PERIOD (9 MONTHS)
AMOUNT RS.
TOTAL RS.
11. PERSONNEL EXPENSES
1404888.97
398870.40
170413.00
45000.00
99846.00
57754.00
2184870.37
12. FINANCIAL EXPENSES
193145.91
196573.81
13. ADMINISTRATIVE EXPENSES
4716490.51
26462.03
71393.00
84667.00
164347.00
116081.00
108000.00
38652.00
54000.00
343370.04
64098.69
Auditor's Remuneration
39002.00
15168.00
62488.00
5858721.27
14. OTHER EXPENSES
129526.80
70025.04
199628.02
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
15. NOTES ON ACCOUNTS
1. SIGNIFICANT ACCOUNTING POLICIES:
ACCOUNTING CONVENTION
The financial statements are prepared under the historical cost convention, in accordance with applicable accountingstandards and relevant presentation requirements of the Companies Act, 1956.
INVESTMENT
a) Investments are classified into Current Investments and long-term investments.
b) Current Investments are valued category wise at book value or fair value, whichever is lower.
c ) Long Term Investments are stated at cost. Diminution in value of investments if any is not considered because of iii. STOCK-IN-TRADE
Stock in Trade is valued category wise at cost or fair value, whichever is lower.
iv. REVENUE RECOGNITION
Income from Investments
Dividend Income is recognized when the company's right to receive payment is established. Profit/Loss on Sale ofInvestments is considered at the time of sale/redemption.
Interest Income
Interest Income is recognized on a time proportion basis taking into account the amount outstanding and the rate applicable.
FIXED ASSETS AND DEPRECIATION
Tangible assets are stated at cost less accumulated depreciation. Cost of acquisition is inclusive of freight, duties, taxesand other incidental expenses.
Depreciation is charged on Straight Line basis, as per rates specified in Schedule XIV of the Companies Act, 1956.
vi. ACCOUNTING FOR TAXES ON INCOME
Provision for Taxation for the year comprises of current taxes and deferred tax. Current Taxes consists of Income Taxpayable on the current year income. Deferred Tax is calculated for timing differences. Fringe Benefit Tax is determined inaccordance with the provision of Income Tax Act, 1961.
vii. IMPAIRMENT OF ASSETS
At each balance sheet date, an assessment is made whether any indication exists that an asset has been impaired. If anysuch indication exists, an impairment loss i.e. the amount by which the carrying amount of an asset exceeds its recoverableamount is provided in the books of account.
viii.PROVISIONS AND CONTIGENT LIABLITIES
a) Provisions are recognized for liabilities that can be measured by using a substantial degree of estimation, if: - The company has a present obligation as a result of a past event, - A probable outflow of resources embodying economic benefits is expected to settle the obligation and - The amount of the obligation can be reliably estimated b) Contingent liability is disclosed in the case of: - A present obligation arising from a past event when it is not probable that an outflow of resources embodyingeconomic benefits will be required to settle the obligation or - A possible obligation, unless the probability of outflow in settlement is remote.
c ) Re-imbursement expected in respect of expenditure required to settle a provision is recognized only when it is virtually certain that the re-imbursement will be received.
ix. Material events occurring after the balance sheet date are taken into cognizance.
RETIREMENT BENEFITS
Gratuity
The Company has taken a Group Gratuity Policy from LIC of India to discharge its liability for Gratuity. The calculation ofpremium under the policy is made on the basis of actuarial valuation done by LIC.
xi. The accounts of the company have been prepared on going concern basis.
xii. Prior period extraordinary changes in accounting policies, having material effect on the financial affairs of the Company Contingent liabilities not provided for
As at 31.03.2009
(In Lacs)
a) Bank Guarantees and Letters of Credit outstanding NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
Estimated amount of contracts remaining to be Executed on Capital Account (Net of Advances) In the opinion of the board, the value of Current Assets, Loans and Advances have a value in the ordinary course of businessat least equal to that stated in the balance sheet except in case of those shown as doubtful.
The Board has decided to change the Accounting year from 30th June to 31st March w.e.f. Current Year. As such CurrentAccounting year is of nine months i.e. from Ist July 2008 to 31st March 2009 and hence the previous year figures are notcomparable with the current year figures.
Detail of transactions entered into with related parties during the period as required by Accounting Standard 18 on "RelatedParty Disclosures" issued by the Institute of Chartered Accountants of India are as under: (Rs. in lacs)
Associates
Key Management
Relative of Key
Personnel (KMP) Management Personnel
Particular
Note:
*Associates and Related Parties
Nahar Spinning Mills Ltd., Nahar Polyfilms Ltd., Nahar Industrial Enterprises Ltd., Oswal Woollen Mills Ltd., Cotton county RetailLtd., Vanaik Spinning Mills Ltd., Abhilash Growth Fund (P) Ltd., Atam Vallabh Financers Ltd., Bermuda Insurance Brokers Pvt.
Ltd., Kovalam Investments & Trading Co. Ltd., Ludhiana Holdings Ltd, Monica Growth Fund (P) Ltd., Nagdevi Trading &Investment Co. Ltd., Nahar Growth Fund (P) Ltd., Neha Credit & Investment (P) Ltd., Ogden Trading & Investment Co. (P) Ltd,Palam Motels Ltd, Crown Stars Ltd., Ruchika Growth Fund (P) Ltd., Sankeshwar Holding Co. Ltd., Vanaik Investors Ltd,Vardhman Investments Ltd., J.L.Growth Fund Ltd., Jawahar Lal & Sons Key Management Personnel
Sh. Jawahar Lal Oswal, Sh. Dinesh Oswal and Sh. Kamal Oswal Relatives of Key Management Personnel
Mrs. Abhilash Oswal, Mrs.Ruchika Oswal, Mrs.Manisha Oswal, Mrs.Ritu Oswal and Mrs.Monika Oswal Associates includes the Companies in which the Key Management Personnel or their relatives have significant influence,also includes enterprises with whom no transaction has taken place during the period.
As per Accounting Standard 20 of the Institute of Chartered Accountants of India, Earning Per Share, is calculated below: - Current Period
130137102.43
16746167
Earning Per Share (Face Value of Rs.5/- per share) The Company is liable to pay tax as per provisions of Section 115JB of the Income Tax Act, 1961. In accordance with theprovisions of Section 115JAA of the said Act, the Company is entitled to take credit of the tax paid under Section 115JB of thesaid Act. However, such credit has not been recognized in the financial statements, as there is no convincing evidenceavailable that the Company will be paying tax as per normal provisions of the said Act, during the period for which MAT Creditcan be carried forward, Hence no defer tax asset has been created.
The Institute of Chartered Accountants of India has issued an Accounting Standard (AS)-28 on impairment of assets, whichis mandatory for the accounting periods commencing on or after 1st April 2004. In accordance with the said Standard, thecompany has assessed as on date of applicability of the aforesaid Standard and as well as on Balance Sheet date, whetherthere are any indications (listed in paragraphs 8 to 10 of the Standards) with regard to the impairment of any of the assets.
Based on such assessment it has been ascertained that no potential loss is present and therefore, formal estimate ofrecoverable amount has not been made. Accordingly no impairment loss has been provided in the book of account.
10. The disclosure requirements of Accounting Standards AS-17 are not applicable as the main activity of the Company fall under
11. The employee's gratuity fund scheme is managed by LIC. The following tables set out the funded status of the gratuity plan
recognized as the Company's financial statement as at 31.03.2009.
NAHAR CAPITAL AND FINANCIAL SERVICES LIMITED
Current Period
Assumptions
Discount Rate
1994-96 ( Ultimate) 1994-96(Ultimate)
b. Reconciliation of Opening and Closing
balances of defined benefit obligation.
Present value of obligations as at beginning of year
509951.00
76887.00

Source: http://www.owmnahar.in/ncfs/images/Financial%20Year%202008-09.pdf