OLYMPIA CAPITALS LIMITED · OLYMPIA CAPITALS LIMITED DIRECTORS' REPORT Dear Shareholders, Your Directors present the 26h Annuar Report arong with Audited the year ended sJatement

i*

I

I

OLYMPIA CAPITALS LIMITED

zdl' ANNUAL REPORT

2012-2013

L

BOARD OF DIRECTORS

Ram Ratan KanoongoSunil VankawalaVinod Pabuwal

Vinod Khandewal

AUDITORS

Hiren & Co.

Chartered Accountants

BANKERS

AXIS Bank Ltd.

REGISTERED OFFICE

52 Dewan Center, Level -llS V Road, Jogehsrvari (w)

Mumbai-400 102

Tel-fax: (022) 667 7 9420

REc lsrRA Rs & TRANSFER-AG ENTS:

Jf .itit Corpotute Services Pvt' Ltd'

19, JaferbhoY lndustrial Estate,

l" Floor, Makwana Road,

Marol Naka, Andheri (East), Mumbai-4O0 059'

CONTENTSNotice ..........Director RePort... ....... .

Corporate Covernance....Auditors RePort'......'.'.Balance Sheet...... . .. '..Statement ofProfit & Loss Account"'"""""""'Cash Flow Statement. '. .. "Notes Forrning paft of the Financial Statement' ' ' ' ' ' '

Statement regarding subsidiary Companies" " "Pursuant to section 2 I 2

Consolidated Financial Statements" " "n.fot,, a Financial Statements of Subsidiary Companies" ' " '

Atiendance sliP & ProxY Form


3


NOTICE

To,THEMEMBERS,

NOTICE is hereby given that the 26'h Annual General Meeting. of the Members ofOLYMPIA CAPITALS LIMITED will be held on Saturday, the 28rh September, 2013 at

9.30 a. m. at 52 Level lt, Dewan Centre, S. V. Road, Jogeshwari (West), Mumbai - 400l 02.to transact the following business: -

ORDINARY BUSINESS:

l. To receive, consider and adopt the Audited Balance Sheet as at 3l't March 2013 and

Statement of Profit and Loss Account for the year ended on that date together with the

Reports of Directors and Auditors thereon.

2. To appoint a Director in place of Shri Ram Ratan Kanoongo who retires by rotationand being eligible, offers himself for reappointment

3. To appoint Auditors and fix their remuneration.

SPECIAL BUSINESS:[. To consider and if though fit, to pass with or without modification(s) the following

resolution as an Ordinary Resolution.

"RESOLVED THAT Mr. Vinod Khandelwal who was appointed as an AdditionalDirector of the Company by the Board of Directors and who holds oIfice up to the date

of this Annual General Meeting under Section 260 of the Companies Act, 1956 and inrespect of whom the Company has received a Notice in writing from a Member pursuant

to Section 257 ofthe Companies Act, 1956 proposing his candidature for the office ofDirector, be and is hereby appointed a Director of the Company, liable to retire byrotation."

Registered Office: - By order of the Board52 Level Il, Dewan Centre For Olympia Capitals LimitedS. V. Road,Jogeshwari (West),Mumbai -400 102. Director

Dated: 30.05.2013

Ll


NOTES

I . A Member entitled to attend and vote at the meeting is entitled to appoint a proxy to attend and

vote instead ofhimselfand the proxy need not be a Member ofthe company, proxies, in order to be

effective, must be submitted at ihe "Lmpany's

Registered OfI'ice not less than forty eight hours

before the meeting.

2. The information required to be provided under clause 49 ofthe listing agreement entered

into with various Siock Exchange, regarding the directors who are proposed to be

appointed/re-appointed has given below.

3. The Register of Members and Share Transfer Books of the Company will remain closed

from 27.09.2013 to 28.09.2013 (both days inclusive) as record date'

4. Members are requested to bring their copy of Annual Report at the Meeting'

5. Members are requested to intimate any change in their address at the Registered Office ofthe Company. .

6. Members desirous of getting any information about the Accounts and operations of the

Company arg-requested io addiesstheir queries to the Company well in advance so that the

same are raceived at least 7 days before the date of the Meeting to keep the information

readily available at the Meeting.

7. An Explanatory Statement pursuant to sec 173(2) ofthe Companies Act, 1956 relating to

the special business to be transacted at the meeting is Annexed hereto

By order ofthe BoardFor Olympia Capitals Limited

Registered Office: -52 Level ll, Dewan CentreS. V. Road, Ram Ratan Kanoongo

Jogeshwari (West), Director

Mumbai - 400 102

Dated: 30-05-20 I 3

5


EXPLANATORY STATEMENT PURSUANT TO THE PROVISIONS OF SECTION173(2) OF THE COMPANIES ACT, I 956.

ITEM NO.I

Mr' vinod Khandelwal was appointed as an Additional Director of the Company inaccordance with the provisions u/s 260 of the Companies Act, 1956 read rlrith article 122 ofArticles of Association of the company with eflect from22"d March,20l3 to hold office upto the ensuing Annual General Meeting of the Members of the company. The company hasreceived a notice under the Companies Act, I956, signifying his intension propoiing vtr.Vinod Khandelwal as candidate for the office of Director. The approval of shareholders issought forthe said appointment as Director liable to retire by rotation.

The Board of Directors recommend passing of the resolution.

Apart from Mr. Vinod Khandelwal no other Director is concerned or interested in the saidresolution.

Registered Office: -

52,Level I[, Dewan CentreS. V. Road,

Jogeshwari (West),Mumbai 400 102.

Dated: 30m May 2013

By order olthe Board

Ram Ratan KanoongoDirector

lnformation pursuant to Corporate Governance clause of thereappointment of Directors in the Annual General Meeting.

listing agreement regarding the

Name of the Directors Shri Ram Ratan KanoonsoDate of birth 05.06. I 959

Date of apoointment r 5.04. I 986Expertise in specific

functional areaAccounts & Finance & Stock Broking

Qualification B.Com, C.A.Directorship of othercompanies as on 3l .03.2013

l. Olympia Securities Ltd2. Headway Capital Advisors Ltd.3, Devkant Synthetic I P Ltd.4. Jitkari Synfab P Ltd.5. Headway Energy Services P Ltd.6. Essem Consultancy Pvt Ltd.T.Kanchansobha Finance Private Limited

Chairman/Member of othercompanies as on 3 I .03.2013

None

OLYMPIA CAPITALS LIMITEDDIRECTORS' REPORTDear Shareholders,

Your Directors present the 26h Annuar Report arong with Audited sJatement of Accounts tbrthe year ended 3 l.t March 2013.

I) FINANCIAL HIGHLIGHTS: .

Srri:YPr-rS: -tn view of the carried forward losses; the Board has nor recommend any

3) OPERATIONS: -

The Indian Economy is on.recovery path and that indicated in various indicators. yourcompany is operating in fee based s"ruic. u.e. i, iri. n.ra of.Finance, Management, Merger& Acquisition, Wealth Management & Corporate Advisory field.

4) FUTURE SCENARTO: _

Your company wi, expand its activities to Fee based servico sector. The growth in Economytras created various opportunities for organizea ptay.rs. rne Financial service sector has seengood growrh and with the opening "rE;;;, i[';'i.iuu," and grobar prayers more and moreproducts are in offering to meet th'e .p..in" ..quir"ro*i..

s) SUBSIDIARy COMpANTES: _

olympia Securities Limited: The Annuar Accounts of the company for the year ended 31",March 2013 have been attached herewith.

A statement required ,nd"r.t_.:lion,212 9{ft.. Companies Act, 1956 in respect of SubsidiaryCompanies of the Company is artached with the e..irrt, of the Company.

6) AUDITORS: -

M/s Hiren & co., Chartered Accountants, retire at the concrusion of ensuing Annuar GeneralMeeting and are eligible for reappointment.

OLYMPIA CAPITALS LIMITED7) DIRECTORS: -

During the period fiom last Annual General Meeting to cun'ent one, Mr. Vinod Khandelwal appointedas additional Directors in the Company w.e.f. ZZl.Ol.ZOtZ. Mr. iamesh Nry"tl.rigrr"a from tnlBoard w'e'f 22'03.2013. The additional directors *iri r',ora irr" office till tt" ""i.irri""?iihe ensuingAnnual General Meeting and are eligibre to be re-appointed in tn. ennurt c"n".uiltr""irr!

Shri Shri Ram Ratan Kanoongo,.who retire by rotation at the ensuing Annuar GenerarMeeting and being erigibre ofrer himseif for re-appointment. The gou,; ...or*ends hisreappointment in the company,s interest.

8) AuDtrcoMM|TTEE

1l Aylil comminee comprises-shri vinod pabuwal, shri Ramesh Nayak tiil 2r.03.r3, shriVinod Khandelwal we.f.22.03.13 and Shri Sunil Vankawala.

9) FIxED DEPosITDuring the year under review the company has not invited or accepted any fixed depositsfrom the public.

l0) Doroslrons SvsrsN4Companies share are avaitable for dematrlisation with National securities Depository Ltd.CNSDL) and Cenrral Depository Securities Ltd. (CDSLj.

I 1) CoRpoRArE GovERNANCEA report-on Corporate Governance along with compliance certificate from Auditors thereonannexed hereto.

12) consolidated financiar statement as required under crause 32 ofthe Iisting agreement andAS-21 of lnstitute of chartered Accountants of tndia, Audited consolidaied financiarstatement as on 3 l"t March, 20 I 3 is annexed.

13) DIRECTORS' RESPONSIBILITY STATEMENT: _

we give below a Directors' Responsibirity statement as required under Section zr7 (2A) ofthe Companies Act, 1956.

i) we have followed the appricabre accounting standards in the preparation of the AnnualAccounts and proper explanation relating to maierial d.pu.tur., have Leen given in'scrreaut"of Notes on accounts forming part of the;ccorpunyingi."orn,..

ii) we have selected the Accounting.policies as given in Schedure of Notes on Accounts andapplied them consistentry and made-judgm.n,, uiJ ".,iru,", that are reasonaut" una p.ua"ntso as to give a true and fair view of the state of arfairs of the company as at 3rsrMarch,20 I 3and of profit of the Company for the year ended onihat date.


iii) we have taken proper and suffrcient care for the maintenance of adequate accountingrecords in accordance with^the provisions ofcompanies Act, 1956 for safeguarding theAssets ofthe company and for preventing and detecting fraud and other irregularlties.

iv)we have prepared the Annual Accounts for the year ended 3l't March 2013 on a GoingConcern basis.

14) PARTICULARS UNDER SECTION 217 OR THE COMPANIES ACT, 1956, : -

]l:t"-it no-ernployee drawing remuneration in excess of the limits laid down under section211 (2A) of rhe Companies Act, 1956.

I5) DISCLOSURE REQUIRED UNDER COMPANIES (DISCLOSURE OFPARTICULARS IN THE REPORT OF BOARD OF DIRECTOns) nulns, rxg:The d.isc-losures required under the Companies (Disclosure of Particulars in the Report of theBoard of Directors) Rules, lggg are stated as beiow:

A. CONSERVATIONOFENERGY:

The company is not undertaking any energy consumption activity currently. However, thecompany is undertaking arr necessary steps to prevent unnecessary energy consumption.

B. TECHNOLOGY ABSORPTION:

The company has the updated technology avairabre with the company, and is undertaking alrsteps for improving the technology available with the Company.

C. FOREIGN EXCHANGE EARNINGS AND OUTGO:

The Total Foreign Exchange Earnings and Outgo are as follows:Foreign Exchange Inward Remittanaes 1in ns.;iNitForeign Exchange Outward Expenses (in Rs.): Nil

16) ACKNOWLEDGEMENT: -

Your Directors wish to prace on.recordtheir deep appreciation of the contribution made bythe Employees at all revers and Shareholders for iheir support and faith reposed in theCompany.

Mumbai, 30th May 2013 By order of the Board,

Ram Ratan Kanoongo Sunil VankawataDirector Director


REPORT ON CORPORATE GOVERNANCE FOR THE YEAR 2012-2013

The Company firmly believes in and continues to practice Corporate Governance. Thecompany's essential character is.shaped by the very varues transpar"n.y, pror.rrionarism andaccountability. The company continuousry endeavors to improve on these aspecrs on an on going

2, BoARD oF DtREcroRs: -composition, Attendance at the Board Meetings and the last Annual General Meeting, outsideDirectorship and other Board committee as in 3r.,March 2013 as uppti.uui., i, taburatedhereunder:

pûr11e1fe lnancial year 2ol2-2or3,the Board ofDirectors met five rimes on, 30-05-12, l4-08-12, 07 -l l - 12, I I -02- 13, and 22-03-20 I 3.

4. Auptr CoMMtrrEE: -

The Audit committee comorises of comprises Shri vinod pabuwar, Shri Ramesh Nayak tiil2l'03 13, Shri Vinod Khandlrwar we.f. zz.ol.tl unJ sr,,i Sunir vankawara.

@:-TheCompanyhaSnotformedanylemunerationCommitteeberng a non-mandatory requirement.

Name of theDirectors

No ofBoard

MeetingAttended

AttendanceAt previous

AGM on

30.09.2012

No of outsideDirectorship

Held

No ofMembership/

Chairmanship inother Boardcommittee

Executive/Non

Executive

Rarn RatanKanoonso

5 Yes 7 None Non-ExecutiveSunil

Vankawala5 Yes None Non-

ExecutiveRamesh

Navak4 Yes 2 None Non-

ExecutiveVinodPabuwal

No J None Non-ExecutiveVinod

KhandelwalI No 2 None Non-

Executive

- Share Transfer andShareholders,Crievancesco*aandRameshNayakduring the financial year 20ll-2012.

7' GexpBal' Boov MonrrNcs: - Location and time of the last three Annual General Meetingsare as under:

Year Venue Date Time20n-2012 52,Level II, Dewan Centre,S V Road, Jogeshwari (w)Mumbai-400 102

30.09.20t2 9.30 a.m.

20r0-20t I 52,Level II, Dewan Centre,S V Road, Jogeshwari (w)Mumbai-400 102

30.09.201 I 9.30 a.m-

2009-20 I 0 52,Level II, Dewan Centre,S V Road, Jogeshwari (w)Mumbai-400 102

30.09.201 0 9.30 a.m.

There was no other@ years and no resolution *., prtthrough postal ballot.

8. Drscr,osunn: -a) The company has not entered into any tmnsaction of a material nature with its promoters,the Directors or the management, their subsidiaries or relatives irr" ,"y r,""" potentialconflict with the interest of the company at rarge. The transactions with the reratedparties are disclosed in notes ofthe Accounis in thJAnnual Report.b) There were no penalties, strictures i.posed on the company, by either the StockExchange or SEBI or any other statutory authorities ro, non-"o'nrpiiun..'o'iuny ,-nu,,.,related to the Capital Markets, during theiast three years.

9' MEAN$. o[.coMMUNrcATIoN: -The Board of Directors of the company considers andapproves the Un-audited ouarterly financial results and yearly Audited Financial Results ofthecompany and same ur. "o.*u'ni.u;d-;; ;ri ,h. s.ck Exchange, where rhe shares of rhecompany are listed, within stipulated time.

10. GrNrul Ssanouolonns INronrrlerloN: _

a) Resistered office: -

52 Level II, Dewan CentreS V Road, Jogeshwari (w),Mumbai- 400 t02Telefax : (022) 667 7 9 420

b) 26od Annual General Meetins


28th September 2013 at 9.30a.m.at 52 Level lr, Dewan Centre, S v Road, Jogeshwari (w),Mumbai 400 102.c) Financial Year: - Ist April to 3 I

.t March.

d) Financial Calendar

Qua rterly Unaudited Reports:

Quarter ended 30rh June 2013: on or before l4th August 2013Quarter ended 30ft September 2013: on or before lihNovember, 2013Quarter ended 3l't December 2013: on or before l4th February.20l4Quarter ended 3l"tMarch 2014: on or before l4th May 2014

u)

f) Listing ofshares

Equity.shares olthe company are listed on the stock Exchange, Murnbai; Tlre Stock Exchange,Ahmedabad; The Delhi stock Exchange Association Lirnited, oelhi; The calcutta stockExchange,Calcutta and Madras Stock Exchange, Chennai

g)

b) Demat ISIN Number in NSDL & cDsL for Equity shares: INE697Bl0l3

Sloglt-llIarket Price Data: High/Low during each monrh for the year ended 3l,t March 2013 -No transaction during the year.

Resistrar & Transfer Asent:

Adroit Corporate Services p\4. Ltd.I9. Jaferbhoy Industrial Esrate,l'r Floor, Makwana Road,Marol Naka, Andheri (East).Mumbai-400 059Tel: 2859 6060, 2859 4060, Fax: 2g50 374g, Email: [email protected]).

Share Transfer Svstem

Share certificates received for_ transfer in physical form and requests for demat are generallyregistered/ confirmed within l5 days of receipi of the same, provided the documents are clear inall aspects. The company arso provides simurtaneous transfer cum d;;.i i;;i;ilo its equiryshareholders.

t;


1"

rch 2013

Details of Phvsical & Demat shares as on 3l't March 2013

Particulars No.of shareso/

NSDL t l-r//)) 46.27

CDSL 39865',7 5.54

Total Demat 3730890 51.81

Phvsical 34698 I 0 48-19

Total 7200700 r00

Add ress for correspondence:52 Level ll, Dewan Centre

S V Road, Jogeshwari (w),

Mumbai- 400 102

Tele-fax: /022), 667 7 9 420For on and behalf of Board of Directors,

Murnbai, 30tr' I'lay 2013Ram Ratan Kanoongo Sunil Vankawala

Director Director

as on 3l" March

Category ofshares

No ofshareholders

'h of totalshareholders

No of shares 'h of totalshares

Up to 500 13477 95.23 1661000 23.07

501 to 1000 387 2;13 330000 4.58

100 to 2000 146 1.03 223100 3.10

200 to 3000 37 0.26 97700 r.36

300 4000 t7 0.12 58800 0.82

400 to 5000 26 0.1 8 126100 t.75

500 l 0000 20 0.14 l 47800 2.05

10001 to 999999 42 0.30 4556200 63.28

Total 14152 100 7200700 100

Cateeorv No. ofShares held

Percentage ofShare holdings

Promoters 2s03200 34.76

2 Mutual Funds and UTI 50000 0.69

3 Ranks. Financial Institutions l 000 0.01

1. Private Corporate Bodies 758500 10.53

4. lndian Public 3466850 48.16

5 NRIs 421 150 5.8s

TOTAL 1200700 100

Auditors Certificate on Corporate Governance

The Members ofOlympia Capitals LimitedMumbai

We have examined the compliance of condition of corporate Governance by Olympia CapitalsLtd, Mumbai for the year ended on 3l'r March, 2013 as stipulate in clause 49 of the listingagreement of the said company with the stock Exchange, with relevant records and documentsmaintained by the company and furnished to us.

The compliance of conditions of Corporate Governance is the responsibility of the management.Our examination was limited to procedures and implementation thereof, adopted by the companyfor ensuring the compliance ofthe condition ofthe Corporate Covernance. It is neither an auditnor an expression ofopinion ofthe financial statements ofcompany.

In our opinion and to best ofour information and according to the explanation given to us, wecertify that the company has complied with the conditions of the Corporate Governance asstipulated in the above-mentioned listing agreement.

As required by the guidance note issued by the Institute of Chartered Accountants of India, wehave to state that as per the records maintained by the company that generally there were noinvestor's grievances pending for more than thirty days.

We further state that such compliance is neither an assurance as to the further viability of thecompany nor the efficiency or effectiveness with which the management has conducts the affairsofthe company.

Mumbai, 30rh May 2013

FORHIREN& CO.Chartereci Accountants.

Firm Registmtion no-l l928lW

(HIREN M MEHTA)(PROPRIETOR)

M.No 106567

AUDITORS' REPORT TO THE MEMBERS OF THE OLYMPIA CAPITALS LIMITED

1) We have audited the attached Balance Sheet of Olympia Capitals Limited as at 3l"r March 2013 andthe Profit and Loss Account and Cash Flow statement for the year ended on that date annexed thereto. These financial statements are the responsibility of the company,s management. ourresponsibility is to express an opinion on these financial statements based on our audit.

2) We conducted our audit in accordance with auditing srandards generally accepted in India. Thosestandards require tlrat we plan and pertbrm the audit to obtain liasonabie urrurun". about whetherthe financial statements are free of material misstatement. An audit includes examining, on a testbasis, evidence supporting the amounts and disclosures in the financial statements. An audit alsoincludes assessing the accounting principle used and significant estimates made by management, aswell as evaluating the overall financial statement presentation. We believe that oui audit provides areasonable basis for our.opinion.

3) As required by the Companies (Auditor's Report) Order, 2003 issued by the Central Govemment interms of Section 227(4A) of the Companies Act, I 956, we annex hereto a statement on the matterspecified in paragraph 4 and 5 the said order to the extent applicable to the Company.4) Fufther to our comments in the Annexure referred to in paragraph (l) above. : _

a) We have obtained all the information and explanations, which to the best oFour knowledge andbeliefwere necessary for the purposes ofour audit.

b) In our opinion, the Company as required by law has kept proper books of accounl so far asappears from our examinalion ofthe books.

c) The Balance Sheet and Plofit & Loss Account dealt with by this report are in agreement withthe books ofaccount.

d) ln our opinion, the Balance Sheet and the I'rofit & Loss Account and Cash Flow statementdealt with by this teport are in compliance with the all mandatory Accounling standardsreferred ro in Secrion 2l I (3C) ofthe Companies Act, 1956.

e) In our opinion and to the best ofour information and according to the explanations given to us,the said accounts read together with notes thereon, give the information requiied by theCompanies Act, 1956 in the manner so required and give a true and fair view in confoimitywith accounting principles generally accepted in India:i) In the case of the Balance Sheet of the state of affairs of the Company as at 3 lst March

2013 andii) In the case ofthe profit and Loss Account ofthe pr.ofit ofthe company for the year ended

on that date.iii) In the case ofthe Cash Flow Statement, ofthe cash flows for the year ended on that date.l) On the basis ofthe written representations received from the Dir.ectori and taken on record by

the Board of Directors, we repon that none of the Directors are disqualitied as on 3l"r March.2013 fi'om being appointed as a Director in terms ofclause (g) ofsubsection (l) ofsection 274ofthe Companies acr, I 956.

MUMBAI,30ri May 2013

FOR HIREN & CO.Chartered Accountants.

Firm Registration no-l I 9281 W


Membership No.-106567

ANNEXURE TO THE AUDTORS, REPORT

(Referred to in paragraph 3 ofthe Auditors Report ofeven date to the members ofolympia Capitats Limitedon the accounts for the year ended 3l.r March 20lJ)

(i)clause (i) ofthe order is nor appricabre to the company as the company does not have any fixedassets.

(ii) In respect of inventories:

a) As explained to us, the management at reasonable intervals has physically verified the Stockof Shares, debentures and other Securities.

u) The plocedure followed by the Management for physical verification of stock of shares,debentures and Securities are in our opinion reasonable and adequate in relation to the size oftheCompany and the nature of its business.

c) As explained to us, llo discrepancies were noticed on such verification between the bookrecords and physical stock ofshares, debentures and Securities.

(iii) a1 According to information and explanations given to us, the company has not granted anyloans. secured or unsecured' to/from compani.i, fi.r, or other parties listed in rire Registermaintained under Section 301 ofthe Companies Act, 1956.

b) According to infonnation and explanations given to us, the Conrpany 6as taken interest freeadvances t 126 25 lacs (PY < 130.50 lacs) frori one company tisted inihe Register maintainedunder.Section 301 ofthe Corrpanies Act, 1956

(iv) In our opinion and according to rhe information and expranations given to us, since thecompany does not have any fixed assets, there is no question ofcommen"ting ofiniernal contr.olprocedure for purchase ofthe fixed assets.

(v) In our opinion and according to the information and explanations given to us the, there were notransactions that need to be entered to be entered in'the registei maintaineJ in-fr*run". orsection 30 I ofthe Act.

(vi) ln our opinion and according to the information and explanations given to us the company hasnot accepted any deposit within the meaning ofthe provision ofsection 5gA and 5gAA ofthecompanies Act' 1956 and the Non Banking Financiar corpuni",1n"r"r* buniiilir".,ion',1977.

(vii) In our opinion and according to the expranation given to us, the company rras an adequateintemal audit system commensurate with its size an-d nature of its business.

(viii) As informed to us, the maintenance of cost records has been not prescribed by the CentralGovemment under crause (d) of sub-section ( I ) of section 209 of the corpunlr'n.i, r sso, inrespect ofthe activities carried on by the Company.(ix) In respect ofstatutory dues:

a) we are informed that during the year under review, the company is genera,y regurar indepositing _all

the undisputed statutory dues incruding provident Fund, Investor Education &Protection Fund, income tax, wearth tax, sares tu*, "rrt"to,

duty, excise duty, cess and any otherdues where ever applicable. There is no undisputed amounts not deposited due over six monthsfrom rhe date they became payabte as on last day ofthe financial yeai

b) The Company has disputed liability of Income Tax aggregating to 1) < 29.52 lacs in respect ofAssessment year 1995-96 for which rhe Company has preferred an appeal with the Appellate

Tribunal .2) < 1.48 lacs in respect of Assessment year 2009-10 for which the Company has

prcfened an appeal rvith appeal with Commissioner of Income Tax.

(x) The accumulated losses ofthe cornpany at the end offinancial year are more than fifty percent

of its net worth. The Company has not incurred cash losses in the current financial year and

immediately preceding fi nancial year..

(xi) The company has not taken any loan from any financial institution or bank or debenture

holder.s, the question of defaulted in repayment of dues to a financial institution or bank or

debenture holders does not arise.

(xii) In our opinion and on the basis of information and explanations given to us, the company has

not granted loans and advances on the basis ofsecurity by way ofpledge ofshares, debentures

or other Seculities.

(xiii) In our opinion and according to the information and explanation given to us, the nature oftheactivities ofthe company does not attract any special statute applicable to chit fund and nidhi/

mutual benefi t fund/societies;

(xiv) In our opinion the company has maintained proper records ofthe transactions and contracts ofthe investments dealt in by the company and timely entries have been made therein. The

shares, securities, debentures and other securities have been held by the company, in its own

name except to the extent ofthe exemptioll. ifany, granted under section 49 ofthe Act;

(xv) Accor.ding to the information and explanations given to us and the t'ecords examined by us, the

company has not given any guarantee for loans taken by others from bank or financial

institutions, the tetms and conditions whereofare prejudicial to the interest ofthe company;

(xvi) The company has not applied for term loans during the year.

(xvii)The company has not raised funds on short-term basis.

(xviii) The Company has not made any pleferential allohnent ofshares to parties or companies

covered in the Register maintained under section 301 ofthe Act.

(xix) Since the company has not issued any debentures, the question of creation of security does

not arise.

(xx) The company has not raised money through a public issue duringthe year.

(xxi) No fraud on or by the company has been noticed or reported during the year.

MUMBAl,30'h May 2013

FOR HIREN & CO.Chartered Accoutrtants.

Firm Registration no-l l928lW

(HIRf,N M MEHTA)(PROPRTETOR)

Membership no -106567

tl

OLYMPIA CAPITALS LIMITEDBalance Sheet as at

As per our report ofeven date attachedFor Hiren & Co. For and on behallolthe Board ofDirectorsChartered Accountants( Firm Reg No I 1928t W)

(Hiren M Mehta) Ram Ratan Kanoongo Sunil Vankawala

(Proprietor) Director Director

Membership No: 106567

Mumbai

Date:- 30-05-20 I 3

Particulars NoteNo.

3l March 2013

(ln

3l March 2012L

I

)

il.

2l

IEQUITY AND LIABILITIESlShareholders'fundsI fui Share capital

I fUl Reserves and surplus

I

lCr.."nt liabitities

I frl Shorr-term borrowings

| (b) Other currenr liabilities

I

ASSETSNon-current assets(a) Non-currentinvestments

Current assets(a) Inventories(b) Cash and cash equivalents(c) Short-term loans and advances

TOTAL

,"r^"1

)3

4

5

6

7

II

72,007,00a(72,219.966)

72,007,000(72.761.582\

(212.966' (7s4.5821

12,625,000

3 I 3.500l 3,050,000

10,000r 2,938.500 I 3.060.00012,725,534 12,305.418

I1,295,266 I t .295.266I1.295.266 t t,295.266

142,048

4 13,661

874.559

t48,697160,436

701,019l-430-268 I,0I0,152

12,725,534 12.305.4r8

As'uril[[g pafi or rne rrnanclal Statements

1

'i,

OLYMPIA CAPITALS LIMITEDStatement of Profit and loss for the year ended

Particulars Note No. 3l March 2013

(in<

3l March 201

ll,

III.

IV.

v

VI

VI

VIIItx

Revenue from operations

Other income

Total Revenue (l + ll)

Expenses:

Changes in inventories of Stock-in-TradeOther expenses

Total expenses

Prolit before tax (lll- lV)

Tax expense:

a)Curent tax

b)Mat credit entitlement

l0il

t2t3

t,500,000

179.707

1.500.000 t79.701

6,64995 1.735

5 r,815102,632

958384 154.447

541,6t6

t02,969( I 02.9691

25,260

Profit (Loss) for the period from contitrnitrg operations (V-Vl)

Profit (Loss) for the period

Eamings per equity share:(l) Basic & Diluted

541,616 25,260

1/ll.616 25.261

0.075 0.004

see accompanying notes forming part of the financial statements IAs per our report ofeven date attachedFor Hiren & Co,


( Firm Reg No I I 9281 W)

(Hiren M Mehta)(Proprietor)

Membenhip No: 106567

MumbaiDate:- 30-05-2013

For and on behalfofthe Board of Directors

Ram Raaan Kanoongo Sunil VankawalaDirector Director

tq

PailiculaB For the ysar 6nded31 March.20'13

For lhe year ended31 March,2012

Net Prolit,/ (Loss) before extraordinary items aM tdAdlustmenls for:

lnterest in@meOperating prcfit/ (loss) befoG rcrking capital changesChanos ln so*ino ceoital:

Adjustnenls lor (increase),/ decrease in open hg a$etsllnventoriegShod-term loang and advances

Adiustnents lor incEase / (decrease) in opeftIing liabilities:Othor curent liabilities

541,616 25,260

1151 147'

6.649(173,540

I 36 60q

51,81s908.6S3

1151.447

,let cash flow from / (uged inl oemtino ectlvltie3 (Al

l. Cash flw from invertlnq actjyitiBnterest rceivd

- Olhers {lnleBsl aoainst ll16mc Tay R.n 'ndr 179 707rt Calh flow ttom / (Ged ln) invaitlnd rcrlvtrlar lBr

C. Ca.h flw from financing .ctivitiessrmeeds lrom other short-tem borwings (425,000

t425 nnn50.000

let cash ,ld rrom I (used ih} tin.ncind r.rivul.. tcl

let increarc / (decrca3el ln C.rhD.Cash and cash oquivalentsCash and €sh equivalents at the beginning of the yearCtsh end ct(h edrtivrlaht .l th. 6ni

^t th- va!,

160 436{60 r'

Eo accomDanvino notqg formlnq oart of the financialAs p€r our report ofeven date attachedForHirctr &Co.Clrartered Accountants( Fim Reg No I 19281W)

For and on behalfofthe Board ofDirectors

(Hiren M Mehla) Ram Ratan Kan@ngo Srnil vankowala(Proprietor) Director DirectorMenbeEhip Noi 106567



Notes forming nart of the financial statements for the vear ended 3l't March 2013

1. SIGNIFICANT ACCOUNTING POLICIES:.

1.1 Basis ofaccountinp and nreparation offinancial statements

The financial statements olthe Company have been prepared in accordance with the Generally AcceptedAccounting Principles in India (lndian GAAP) to comply with the Accounting Standards notified undei theCompalies (Accounting Standards) Rules, 2006 (as amended) and the relevani provisions ofthe CompaniesAct, 1956. The financial statements have been prepared on accrual basis under the historic;l costconvention. The accounting policies adopted in the preparation ofthe financial statements are consistentwith those lollowed in the previous year.

1.2 Use of estimates

The preparation of the financial statements in conformity with Indian GAAP requires the Management tomake estim_ates and assumptions considered in the reported amounts of assets and liabiliries (includingcontingent liabilities) and the reported income and expenses during the year. The Managemeni believithat the_€-stimates used in preparation ofthe financial statements are-prudent and reasonable. Future resultscould differ due to these estimates and the differences between the actual results and the estimates arerecognized in the periods in which the results are known / materialize.

1.3 Inventories

Stock of Shares and Secur.ities are valued as follows:-

(a) Quoted shares: - At cost or Market value whichever is less. Where no marker quotes are available valueis taken at Rupees one per company

(b) Unquoted Shares: - At cost or Breakup Value Whichever is lower. As per the last audited Balance sheetavailable with the cornpany.

1.4 Investments

Investments are valued at cost including incidental expenses. A provision for diminution is made torecognize a decline, other than temporary.

1.5 Cash flow statement

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

1.6 Income and Expenses:-

AII income and expenses arc accounted on accrual basis.

1.7 Other income:-

Interest income is accounted on accrual basis.

s lbrminq oart of the financial statements for the vear ended 31"t Mar2) The following transactions rvere carried out rvith the related parties in

during the financial year 2012-13.


course of business

Nature of transaction Transactions duringthe verr

Balance as on31.03.13

Balance as on11 01 1'

Dues to SubsidiarycomDanv

Nil NiI ? l0 lacs

Interest free Loan &Advances from EssemConsultancy Pvt. Ltd

Paid { 7.00 LacsRecd { 2.75 Lacs

( 126.25 Lacs ( 130.50 Lacs

1.13 Previous year's figures have been regrouped / reclassified wherever necessary to correspond with thecurrent year's classification / disclosure.

For Hiren & Co.Chartered Accountants(Firm Reglstration no-119281W!

Hiren M Mehta(Proprietor)M No 106567Mumbai,30!h May 2013

For and on behalf of the Board Directors

Ram Ratan Kanoongo

Sunil Vankawala

Mumbai,30'h May,2013


Not"r forrinn ,ril of th" firrr.irl .t"r"."ot, fo, th" n"u" "nd"d

31", M"."h 2013

1.8 Taxes on income

Current tax is the amount oftax payable on the taxable income for the year as determined in accordancewith the provisions of the Income Tax Act, 1961.

Minimum Altemate Tax (MAT) paid in accordance with the rax laws, which gives future economic benefitsin the form ofad.iustment to.future income.tax liability, is considered as an asset ifthere is convincingevidence that the company will pay normal income tax.'Accordingly, MAT ir ,..ogrir"J u, an asset in theBalance Sheet when it is probable that future economic benefit assJclated with it wiii flow to the company.

The Cornpany is entitled for set offofcarried forward losses and unabsorbed depreciation against the futureincome under the Income ta\ Act, 1961. However, based on pr.r"nt ,."nur'io, u, th" io*puny i, notconfident ofeaming sut'ficient profits to utilize these carried forward losses and'unabsorbed depr.eciation,the Company is not recognizing the deferred.tax assets as provided in tn. nc"orntinglirJ*o 22 issued bythe lnstitute ofChartered Accountants of India

1.9 Contingent liabilities and commitments (to the extent not provided for)

Contingent Liabilities As at 3l March2013

As at 3l March2012

Taxation MattersDernands raised by Income Tax but being contested inAppeals.

3 I .00 lacs 3 I .00 lacs

1'10 Since the Company is engaged in financial Services activity no separate information for segment wisedisclosure is required.

l.llBasic and Diluted Earnings per Share:_

Earnings Per Share has been compu-ed asiildei As at 3l March2013

As at 3l March2012

ton 541616 25260yy!,E,,rru ^vcraBq t\umoer oI hqUlty Shafes 7200700 7200700

Basic and Diluted E4nrings pei5hiG?;jJijZb)

-0.075 0.004

Nominal value of share (?). t0/- 101-

1.12 RELATED PARTY DISCLOSURE AS PER ACCOUNTING STANDARD 18

I) Relationship -a). Subsidiaries Companies: - l) Olympia Securities Limitedb) Directors:-l) Mr. Ram Ratan Kanoongo 3) Mr. Vinod Kumar Khandelwal2) Mr. Sunil Vankawala 4) Mr. Vinod pabuwal

OLYMPIA CAPITALS LIMITf,,DNotes forming part of the financial statements

The company has taken interest free advance frorn lelated parties which is repayable on demand

Authorised10000000 Equity Shares of{ l0 each

I 0000000 Equity Shares of ( I 0 each)

Issued

7200700 (Previous year 7200700) Equity Shares ofl0 each fully paid up

Subscribed & Paid up7200700 (Previous year 7200700) Equity Shares oft. l0 each ful

l 00,000,000 l 00,000,000

Note-3

Reserves & SurplusAs at 3l March

20t3As at 3l March

2012

t (r. Securities Premium Account)pening Balance

3losing Balance

b. Surplus)pening balance'+) Net Profit/(Net Loss) For the current year

Jlosing Balance

56,675,000 56.675.000

56,675,000 56.675.000

(129,436,582

541616

(129,461,842

25,260

fi28.894.966 (129,436,582

Total (72.219.966] (72.761.582'

Note -4

Short Term BorrowinssAs at 31 March

2013As at 31 March

2012

t {Unsecured(a) Loans and advances from related parties 12.625,000 I 3,050,000

Total 12.625.000 13,050,000

2lt

OLYMPIA CAPITALS LIMITEDNotes forming part of the financiel strtemetrtsNote-2AReconciliation of

Iluldsr-PlcderelILsbiyalikaleasing & Finance Lrd)

at the besinnins and at the end ofthe

iquity Shrrcs As rt Jl Mrrch 2013 As rt Jl Mrrch 2012Number Amounl Number Amoutrt

;hares outstanding at the beginning ofthe year 7,200.700 72.007.000 7.200-'?00 72,007.000ihares outstanding at the end ofthe vear 7.200.700 72,007,000 7,200,700 72.007,000

Note -28ol shares held by each shareholder holding more than 5yo shar€s:

SR NO Nrmc ofShareholdcrAs at f,l March 2013 As rt Jl Nhrch 2012

No, ofShar.s7o of Holding No. ofShares

7o ofHoldingI t Devakant Synthetics India pvt Ltd t076401 14.9501 t07640( t4.9522. * Jitkari Svnf'ab Pvt.t.td t02890( l4.28ot 1028901 14.28ot

1{

OLYMPIA CAPITALS LIMITEDNotes forming part of the financial statementsNote -5

Other Current LiabilitiesAs at 3l March

2013As at 31 March

2012( t

.a) Other payables

- Statutory dues

- Expenses Payable261,208

\) )o) I 0,000Tota 313.500 10,000

Investment in Equity instruments UnquotedSubsid iaries:-1449970 (Previous Year I 449970) equity shares of Rs. I 0/-

fully paid up held in Olyrnpia Securities Ltd.

Less : Provision for dirnunition in the value of lnvestments

36.248.950

Inventories (Valued at cost or market value whichever islower)

As at 31 March201 3

As at 3l March2012(

Stock-in-trade ( shares & Securities) 142,048 t48,697

Total t42,048 148,697Note -8

Note- 9

Cash and cash equivalentsAs at 31 March

2013As at 3l March

2012( t

r. Balances with banksr. Cash on hand

323,466

90. I 95

65,630

94.806Total 413,66t t60,436

Short-term loans and advances Unsecured considered3ood, unless otherwise stated:

As at 3l March2013

As at 31 March2012( t

Others loan and advanes

Advance tax & tds 874,5 59 701.019Total 874,559 701.019

lemenl in ot ance ot

OLYMPIA CAPITALS LIMITEDNotes forming part ofthe financial statementsNOTE IO

Year endedMarch 31.2013 March 31,2012

t tSonsultancy Fee received 1.500.000

Tota 1.500,000

NOTE II

]ther IncomeYear ended

March Jl,20lJ March.ll.20l2(

Interest on lncome Tax refund 179.707

Total t79,707

NOTE I23hanges in inventories of Stock-in-Trade(Shares & securities) t ?Jnenins Stock 148.697 200.512

-ess: ClosinR Stock 142.048 t 48,697

Total 6.649 51.815

NOTE I3

Other Expenses? t

Filing Fee (ROC) 6.500 500Protbssional Fee Paid 874,500 24.500Depository Charges 3l.784 33.880Share resistrar Charses r 8.000 r9,000Miscellaneous Expense 7 _481 7,812Printing & Staionerv 1,470Service Tax Paid 6.940Payment to Auditor I 0,000 10,000

Tota 951.735 102.632

z7

OLYMPIA CAPITAIS LTMITDI'STATE]IIENT PTIRSTIANT TO SECTION 2I2 Or THE COMPANTES ACT. I956 REL{TING TO SIISTDTARI' COMPANTtrS

NAME OF THE

YEAR ENDED 3lsT MARCH.20r-t-

14,49.970 EQUTTY SHARES OFRS. IO/. EACH FULLY PAID UP

t00vo

COMPANY'S INTEREST

NUMBER AND FACE VALUE

) EXTENT OF HOLDING

NET AGCRECATE AMOUNT OF PROFIT/OF THE SUSSIDIARY COMPANY

FAR AS IT CONCERNS THE MEMBERSHOLDINC COMPANY

[) NOT Df,ALTWITH TN THE HOLDINGCOMPNAY'S ACCOTINTS.

FOR THE SUBSIDIARY'S CURRENTFINANCIAL PERIOD. ('}

(55.796)

(5r4,880)

NIL

NIL

NIL

i) FOR THE SUBSIDIARYiS PREVIOI,SFINANCIAL YEAR SINCE IT BECAME AsuBsrDtARY (t)

DEALT 1VITH IN TIIE HOLDINGCOMPNAY'S ACCO(INTS.

FOR THE SUBSIDIARY'S CURRENTFINANCIAL PERIOD. (T)

FOR THE SUBSIDIARY'S PREVIOUSFINANCIAL YEAR SINCE IT BECAME A .

Miy 20lJFor.nd b.h.lf otthc Borrd of Dirccaoft

Ranr Ralan Kan@ngo

Sunil Vankawala

Report of the Auditors to the Board of Directors of the olYmoia capitalsLimited on Consolidated Financial Statement.

l. we have examined rhe artached consolidated Balance sheet of olympia capitals

Limited, its subsidiaries as at 3l'' March,20l3 and the consolidated Profit & Loss

account for the year ended on that date annexed thereto.

2. These financial statements are the responsibility of Olympia Capitals Limited. Our

responsibility is to express an opinion statements based on our audit. We conducted our

Audit in accordance with generally accepted auditing standards in lndia' These

Standards require that we plan and perform the Audit to obtain reasonable assurance

whether the financial statements are prepared, in all matelial respects, in accordance

with an identified financial reporting framework and are free ofmaterial misstatements.

An Audit includes examining on a test basis, evidence supporting the amounts and

disclosure in the financial statements. An audit also includes assessing the accountingpr.inciple used and significant estimates made by management as well as evaluating the

overall financial statements. We believe that oul'audit provides a reasonable basis forour opinion.

3. We repor.t that the consolidated Financial Statements have been prepared by the

Company in accordance with the requirements of Accounting Standard 2 I 'ConsociatedFinancial Statements' issued by the Institute of Chartered Accountants of India on the

basis of the separate audited financial statements of Olympia Capitals Limited and its

subsidiaries included in the Consolidated Financial Statements.

4. On the basis of the information and he explanations given to us and on consideration oftheseparate audit reports on individual audited financial statements ofOlympia Capitals Limited and

its subsidiaries, we are opinion that:

i) The Consolidated Balance sheet gives a true and fair view ofthe consolidated state

ol affairs of Olynrpia Capitals Limited and its subsidiaries as at 3 I'r March 2013.

ii) The Consolidated Profit & Loss account gives a true and fair view of the

consolidated state ofaffairs ofolympia capitals Limited and its subsidiaries for the

year then ended.

Mumbai,30'o May 2013

FOR HIREN & CO.Chartered Accountants.

Firm Registration no-l l928lW


Membership No. 106567

OLYMPIA CAPITALS LIMITEDConsolidated Balance Sheet as at

As per our repoft ofeven date attached

For Hiren & Co. For and on behalfofthe Board ofDirectors

Chartered Accountants( Firm Reg No I 19281W)

Ram Ratan Kanoon Sunil Vankawala

(Hiren M Mehta) Director Director

(Proprietor)Merrbership No: 106567

Murnbai

Date:- 30-05-201 3

n

ParticularsNoteNo.

31 March 2013 31 March 2012

I.I

2

j

II.I

2

EQUTTY AND LIABILITIESShareholders' funds(a) Share capital(b) Reserves and surplus

Non-current liabilities(a) Other Long term liabilities

Current liabilities(a) Short-termborrowings(b) Other current liabilities

I

I

I

IASSETS

lNon-current assetsI

Ita) Fixed assets

I til Tangible assets

TOTAL

TOTA

.,

3

4

5

6

7

8

9

10

ll

72,007,000(70.096.994)

72,007,00t(70.582.8 I 4'

1.910.006 1.424.186

500,000

500.000

I 2,625,000324.736

I 3,050,00020.000

12.949.736 I 3.070.000

14.859,742 14,994,186

4,742,841 5,3 5 5,72i

4.'142.84t 5,355,723

6,492,961

I .348. I 39

988,764

t _287 .031

6,504, I 60

1,086,262

809,794

|,238,217

10.116.90r 9,638,463

14.859,742 14,994,186

accompanying ootcs forming pail of the finrncial statemcnts I

j"

OLYMPIA CAPITALS LIMITEDConsolidated Statement of Profit and loss for the year ended

As per oul' report ofeven date attachedFor Hiren & Co. For and on behalfofthe Board ofDirectors


( Firm Reg No I I 9281 W)

Ram Ratan Kanoongo Sunil Vankawala

(Hiren M Mehta) Director Director(Proprietor)



!n

PartictrlarsNote No. 3l March 20ll 3l March 2012

I.

ll.ilt.IV.

v.

VI

VII

vill

txx

Revenue liom operations

Other income

Sundry Bal w&ackTotal Revenue (l + Ill)

Expenses:

Changes in inventories of Stock-in-TradeDepreciation and arnortization expense

Other expenses

Total expenses

Profit befor€ tax (v- lv)

Tax expense:

a)Current tax

b)Mat credit entitlement

Prolit (Loss) for th€ period from continuitrg operations (Vl-Vll)


Eamings per equity share:

(l) Basic & Diluted

l2l3

t47

l5

I,500,0009t,020

500,000

326,1_13

2,09 I,020 326.t13

l l ,l996 I 2,882

98 l,l t9

67,7 t6

612,882

1 35.1 34

1.605.200 8l 5.732

485,820

102,969iL02.969',

(489,6191

485.820 (489,6 I 9

485.82( 1489-61 9'

0.07 (0.07

See accompanvinq notes forminq part of the financial statements I

Paaticula6 For the year snded3'l March, 2013

For the y€ar ended31 March,2012

? (a Cash flowfrom o*.atino activili6sNet Proll / (Loss) before exlraordinary items and tarAdiuslfr@ts for:

Depr@iation and amortisaiionlnterest income

Operaling profit / (loss) belore working capital changesChano$ in wo*ind capital:

Adjuslments for (increaso) / decrease in operalirg assels:lnventqiosOthet Curenl AssetsShon-tem loans and advances

Adjuslmonts lot increase / (d@rease) in opeftting liabilitias:Oth€r current liabilities

4A5,820

u2,8A21 007 642

489.619

612,8821202 450

1 1,1 99(48,790

(178,970

1,007,682

67,716{40,923

r,325,562

(202,8501

760 385

ual.rah Il6w fr m / lE.d inl .nerttind ectivitiE3 IAI 595.857 s57 535

3. Cash flow from investlng activitiesntea6sl ,eceived

91 024 91 020 326 1 13

lih^ ..riwilia. rRl

:. Cash flow lrom financinq activities,r@eds lrom other short-term borowinos -425,000 50,000

Jat ..eh Il^w lr6m / arsed inl rinan.ind ,.tlvirie-s lcl {25 000 50 000

2A1 977 c33 648

).Cash and.ash equivalentslash and €sh equivalents at the beginnang of the year I 086 262 152 614

As per our report ofeven date attacltcd

For Hiren & Co.

Chartered Accountants( Fim RegNo I l928lW)

For and on behalfofthe Board ofDirectors

(l-liren M Mehta) Ram Ratan Kanoongo Srnil vankawala

(Proprietor) Director Director

Menibe.ship Nor 106567

MumbaiDate: 30-05-2013

?.t


Notes formins nart ofthe Consolidated financial statements for the vear ended 31't March 2013.

1. SIGNIFICANT ACCOUNTING POLICIES:-

1,1 Accountins: - The consolidated financial statements have been prepat'ed under historical cost

convention in accordance with Generally Accepted Accounting Principals in tndia and cornply with the

Accounting Standards issued by the Insitutute ofChaftered Accountants of India to the extent applicable.

The Company generally follows the rnercantile system ofaccounting and recognizes significant items ofincome & expenditure on accrual basis.

1.2 Principles of Consolidated:-The Consolidated financial statement relate to Olympia Capitals

Limitedaah; Company") and its wholly owned Subsidiaries Companies, Olympia Securities Limited.

The Consolidated Financial Statements have been prepared on the following basis:-

'Ihe Financial statements ofthe Corrpany and its Subsidiaries conrpanies have been combined on a line-

by line basis by adding together the book values of like items ofassets, liabilities, Income & expenses

after fully eliminating intla group balances and intragroup transactions have been eliminated on

consolidated.

1.3 Other Significant Accounting Policies:-These are set out in the Notes to Accounts under

.ig"lniirt Aicounting policies for the financial statements ofthe Company and its subsidiaries Olympia

Seculities Ltd

1.4 Subsidiary Companies considered in the consolidated Financial Statemeuts are:-

Name of the Company Country ofIncorporation

Proportion of Ownershipinterest as at March 31,

2012

Financial Year

Olynpia Securities Ltd lndia 99.93% Anril I2 to March l3

1.5 Continsent liabilities and commitments (to the extent not nrovided for):-


As at 3lMarch 2012

Taxation Matters)emands raised by Income Tax but being contested in\nneals-

3 I .00 lacs 3 I .00 lacs

1.6 Taxes on income:-Cun€nt tax is the amount oftax payable on the taxable income for the year as

deterrnined in accordance with the provisior.rs of the Income Tax Act, 1961.

Minimum Altemate Tax (MAT) paid in accordance with the tax laws, which gives future economic

benefits in the fonn ofadjustment to future income tax liability, is considered as an asset ifthere is

convincing evidence tlrat the Cornpany will pay normal income tax. Accordingly, MAT is recognized as

an asset in the Balance Sheet when it is plobable that future economic benefit associated with it willflow to the Company.

The Company is entitled for set offofcarried forwald losses and unabsorbed depreciation against the

future income under the lncome tax Act, I 96 I . However, based on present scenario, as the Company is


Notes formins part of the Consolidated financial statements for the vear ended 31sr March 2013'

not confident of earning sufficient plofits to utilize these can'ied forward losses and unabsorbed

depreciation, ttre Compa?V is not recognizing the defe'r'ed tax assets as provided in the Accounting

Standard 22 issued by ihe institute ofCha*ered Accountants of lndia

1.7 Cash llow statement: - Cash flows are repo(ed using the indirect.method, whereby profit / (loss)

before extraordinary items and tax is adjusted for the effec-ts oftransactions of non-cash nature and any

deferrals o,. u."rrutr-oi'puri-o, irtr* cash receipts or payments. The cash !3ws from operating,

investing and financing activities ofthe cornpuny ui" ,.gr.guied based on the available information

1.8 Inventories: - Stock ofshal'es and Securities are valued as follows:-

Quoted shares: - At cost or Market value whichever is lower. where no markel quotes a[e available

value is taken at Rupees one per company

Unquoted Shares: - At cost or Breakup Value Whichever is lower"

1,9 Taneible fixed assets: - Fixed assets, are calried at cost less accumulated depreciation

1.10 Depreciation and amortization :-Depreciation has been plovided on the stfaight-line method as

p"r tt" *t* p..*,lb.d t, Schedule XIV to the Companies Act, 1956'

!Jl-lg1qg: - All income and expenses are accounted on accrual basis

1.12 Other income: - Interest income is accounted on accrual basis'

l.l3Since the Comparry is engaged in financial Services activity no separate information for segment

wise disclosure is required.

1.14 Basic and Diluted Earninss ner Share:-

Darnings Per Share has been computed as under: As at 31 March2013

As at 3l March2012

)rofi t (Loss)After Taxation 485820 (48961 9)

Nrrmher nf F.orritv Shares 7200700 '7200700

3asic and Diluted Eaminss Per Share (<) (a)/(b) 0.07 (0.07)

'Jominal value of share ((). r0/- t 0/-

1.15 RELATED PARTY DISCLOSURE AS PER ACCOUTING STANDARD 18

I ) Relationship - a) Directorsi;nar.namKanoongo_DirectorofolympiaCapitalsLtd.AndolympiaSecuritiesLtd

ii) Mr. Sunil vankawala - Director of olympia capitals Ltd. & olympia Securities Ltd.

iii) Mr. vinod Kl.randehval - Dir.ector of olympia capitals Ltd And olympia Securities Ltd

iv) Mr. Vinod Pabuwal directors of Olympia Capitals Ltd'

1,16 Figur.es pertaining to the Subsidiary companies have been reclassified wherever necessary to bring

them in line with present company's financial statements.


Notes formins part ofthe consolidated financial statements for the Year ended 313t March 2013'

1.17 Pr.evious year,s figures have been rrglouped / reclassified wherever necessafy to correspond with

the cunent year's classification / disclosurc.

For and behalf of the Board of Directors

For Hiren & Co. Ram Ratan Kanoongo

Chartered Accountants(Firm Registration no-119281w1

Sunil Vankawala

Hiren H Mehta(Proprietor)M No 106567Mumbai,30th May,2013 Mumbai 30'h May,2013

OLYMPIA CAPITALS LIMITEDConsolidated Notes forming part ofthe financial statements

As at 3l MarchAs at 31 March

I 00,000,000l 00,000,000AuthorisedI 0000000 EquitY Shares of { I 0 each

PY10000000 Equity Shares of{ 10 each)

Issued

72OO7OO (Previous year 7200700) Equity Shares of

I 0 each fully paid ttP

Subscribed & Paid uP

7200700 {Previous year' 7200700) Equity Shares of

I 0 each fully pai

\oTE -3

Reserves & Surplus

As at 3l March2013

As at 31 March2012

a. Securities Premium Account

Opening Balance

Closing Balance

b. SurplusOpening balance

(+) Net PLofiV(Net Loss) For the currerlt year

Closing Balance

56,675,000 56.675,000

56,675,000 56.675,000

(t27,257,814485,820

( 1 26,768,1 9s

(489,619

t26.17 | ,994 (t27 ,257,814)

Total (70,096,994 (70.582,814)

As at 31 March

As at 31 March

a) Loans and advances from related parties

NOTE -5

Loans and advances from related nqrties

The company has taken interest free advance from related palties which is repayable ott denrand'

3t

OLYMPIA CAPITALS LIMITEDNotes forming part of the financial statementsNot€-2A

Reconciliation ofthe number ofshares and amount outstanding at the beginning and at the end ofthe

-fUnaer Pbage with

Dquity ShrresAs at 3l Mar.h 2013 As rt 3l March 2012

Numbar Amotrnl Nomhcr Amountihares outstanding at the besinnins ofthe yeat 7.200.700 72.00?.000 7.200.700 72.007.000

ihares outstandins at the end ofthe vear 7,200,700 72,007,000 7,200,700 72,007,000

Note -28held by each shareholder holdins more than 5%o shares:

SR NO Nrme ofShareholderAs at Jl March 2013 As ri.3l Merch 2012

No. ofShrrcs7. of Holding

No. of Shrrrs7r of Holding

Devakant Synthetics lndia Pvt Ltd 107640( 14.95o/ 1076400 4 95ot

2 Jitkari Syn t'ab Pvt.Ltd. | 02890( l4.Tao/ 102890( 14.289,


:1T:lidated Notes forming part of the financial statementsNOTE.6

As at 3l March

(Valued at cost or market value whichever is As at 31 March

-in-rrade ( shares & s.i*it[I

As at 3l March As at 3l March

. Balances with banks899, I 87

t87,075

Short-term loans and advances Unsecured consideredgood, unless otherwise stated;---------_Others loanrnd udnrnFAdvance tax & tds

As at 3l March2013

As at 3l March2072t

988,764 809,794988.764 809,794

tds u nder o rheii6-a'i-Ef,Iffi

)T

!

z

9r i=

d::6EE>

6

QO

-€9

FF

9-:= c*i.!E:

iIN

F

2-::61:6EE>

o6do69bNhN+6€hs od

€ts

il{

€EO

iv

!69Ix

a

9 -a

€56rO9 ra60

€N 6oo9F:-J<i€

(

I

E;;Eotl!:

604-rh6C

hNo€c.j6ri..i+669<t*9r 9r

c

lv

a-5060c 6€cmo6rô<-€rrijdr

i6

.u * g fE'=E.^d

; n 3 a:EE_g6iooouu

r!lalal:lalxlEIEIrl6lEI

3zl

-.Hla<lr6ts:l-Ol4zl901<ulEiliLlazl

1fi

OLYMPIA CAPITALS LIMITEDConsolidated Notes forming part of the financial statementsNOTE-I2

Revenue from OoerationsYear ended

March 31,2013 March 31,2012(

Consultancy Fee received r,500,000Tota 1.500.000

NOTE-I3

Jther IncomeYear ended

March 31,2013 March 31,2012t (

nterest lncome 54.220 45.483nterest on Income Tax refund 280.630Drvldedn received 36.800

Tota 91.020 326.1 lJ

NOTE.I43hanges in inventories of Stock-in-Trade(Jhares & securities) t)peni!€ Stock 6.504. I 60 6.571.876Less: Clos,ng Stock 6-492.961 6.504. I 60

Total I I.t99 67,716

NOTE.Is

Dther Expenses ( triling Fee (ROC)

I 3.500 4.750tee Pald 882,500 39,500

-reposltory uharges 33,784 11.880ihare registrar Charges I 8.000 19.000vtiscellaneous Expense t0,629 I 1.064rflnltng ag Statlonery 1,470Servlce I ax Pald

6.940)ayment to Auditor 21.236 20,000Total 981.1 r9 I 35.134

OLYMPIA SECURITIES LIMITEDNOTICE

To,THEMEMBERS,

NOTICE is hereby given that the l9h Annual ceneral Meeting of the Members ofOLYMPIA SECURJTIES LIMITBD will be held on Saturday, the 28th September,2013 at 11.30 a. m. at 52 Level Il, Dewan Centre, S. V. Road, Jogeshwari (West),Mumbai - 400 l02.to transact the following business: -

ORDINARY BUSINESS:l. To receive, consider and adopt the Audited Balance Sheet as at 3l't March

20l3and statement of Profit and Loss Account for the year ended on that datetogether with the Reports of Directors and Auditors thereon.

2' To appoint a Director in place of shri Ram Ratan Kanoongo who retires byrotation and being eligible, offers himselffor reappointment.

3. To appoint Auditors and fix their remuneration.

SPECIAL BUSINESS:I' To consider and if though fit, to pass with or without modification(s) the

following resolution as an Ordinary Resolution.

"RESOLVED THAT Mr. vinod Khandelwal who was appointed as an AdditionalDirector.of the company by the Board of Directors and who holds office up to thedate of this Annual General Meeting under section 260 of the companies Ait, 1956and in respect ol whom the company has received a Notice in writing from aMember pursuant to Section 257 of the Companies Act, 1956 proposing hiscandidature for the office of Director, be and is hereby appointed a liirector of theCompany, liable to retire by rotation."

Registered Office: -52, Level II, Dewan CentreS. V. Road,

Jogeshwari (West),Mumbai -400 102.

Dated:30th May 2013

NOTES

By order ofthe Board


l. A member ofthe Cornpany entitled to attend and vote at the meeting,is entitled to appoint aproxy to attend and vote in his stead and a proxy need not be a mihber of the company.Proxies, in order to be effective must be received at the company,s Registered office noi lessthan 48 hours before the meeting.

2' An Explanatory statement pursuant to sec 173(2) of the companies Act, 1956relating to the special business to be transacted at the meeting is Annexed hereto

4t

EXPLANATORY STATEMENT PURSUANT TO THE PROVISIONS OF SECTION173(2) OF THE COMPANTES ACT, 19s6.

ITEM NO.l

Mr' vinod Khandelwar was appointed as an Additionar Director of the company inaccordance with the provisions uls 260 ofthe companies Act, 1956 read with article r22of Articles of Association of the company with effect rrom zoil rvtu.cr,,'ioii'ai"raofflce up to the ensuing Annual cenerar Meeting of the Members of tne bompany. rhecompany has received a notice underthe compa'nies Act, 1956, signifying hisintlnsionproposing Mr. Vinod Khanderwar as candidate ior the office or oirJ.toi. i'n" upf.o*r orshareholders is sought for the said appointment as Director Iiabre to retire by .otuiion.

The Board of Directors recommend passing of the resolution.

Apart from Mr. Vinod Khandelwar no other Director is concerned or interested in thesaid resolution.

Registered Office; -

52, Level II, Dewan CentreS. V. Road,

Jogeshwari (West),Mumbai -400 102.

Dated: 30th May 2013

By order ofthe Board


OLYMPIA SECURITIES LIMITEDDIRECTORS' REPORT

Dear Shareholders,your Directors present the Nineteenth Annual Report along with Audited statement of Accounts for the

year ended 3l" March 2013

FINANCIAL HIGHLIGHTS:

2) DIVIDENDS: -

In view ofcarried forward losses, your Directors are unable to recommend any dividend'

3) OPERATIONS: -

The company is engaged in Fee bases Advisory services. The NSE has yet to settle the account ofthe

Company.

4) AUDITORS: -

M/s Hiren & Co.. Chartered Accountants, retire at the conclusion of ensuing Annual General Meting and

are eligible for reappointment.

5) SECRETARIAL COMPLTANCE CERTIFICATE

Secretarial Compliance certificate for the year ended March 31, 2013 obtained from Practicing Company

Secretary M/s. D.A. Kamat & Co. under thi provisions of section 383A ofthe Companies Act' 1956'

6) DIRECTORS: -

During the period from last Annual General Meeting to current one' Mr' Vinod Khandelwal

-.e.f.iO.O:.ZOt: appointed as additional Directors in the Company' Mr' Ramesh Nayak resigned from the

Board w.e.f.20.03)b13. The additional directors will hold the office tilt the conclusion ofthe ensuing

Annual General Meeting and are eligible to be re-appointed in the Annual General Meeting'

Shri Ram Ratan Kanoongo who retire by rotation at the ensuing Annual General Meeting and being eligible

offer himselffor reappointment. The Board recommends his reappointment in the company's interest.

7) F|XED DEPOSIT

During the year under review the company has not invited or accepted any fixed deposits from the public'

PARTICULARS YEAR ENDED ON 3I.03-2013

Rs.

YEAR ENDED ON 3T.03.2012Rs.

Profil/(Loss) beforeI)eoreciation and Taxation

s57086 98002

Less: Depreciation 6 r 2882 6tz88Z

(5s796) (s r 4880)

l-ess: Provision for Taxation

Profit/(loss) after tax (55796) s14880)

Net Profit (Loss) brought forward (22774920) (22260040)

Net Profit/(Loss) camied to Balance Sheet Q2$a716) (22774920)

't9

8) DIRECTORS' RESPONS|BIL|Ty STATEMENT: -

we give below a Directors' Responsibility statement as required under section 217 (2AA) of theCompanies Act, I 956.

I) We have followed the applicable accounting standards in the preparation ofthe Annual Accounts andproper explanation relating to material departures have been given in Notes on accounts foming part oftheaccompanying Accounts.

ii) We have selmted the Accounting Policies as given in Notes on Accounts and applied them consistentlyand madejudgments and estimates that are reasonable and prudent so as to give a iiue and fair view ofthesiateofaffairs ofthe company as at 31" March,2013 and ofprofit ofthe Company for the year ended onthat date.

iii) We have.taken proper and sufficient care for the maintenance ofadequate accounting records inaccordance with the provisions ofcompanies Act, 1956 for safeguarding the Assets ofthe c-ompany andfor preventing and detecting fraud and oiher irregularities.

iv)we have prepared the Annual Accounts for the year ended 3r'I March 2013 on a Going concern basis.

9) PARTICULARS UNDER SECTION 2I7 OF THE COMPANTES ACT, 1956, : -

There is no employee dmwing remuneration in excess ofthe limits laid down under secrion 3 | 7 (2A) oftheCompanies Act, 1956.

IO) D]SCLOSURE REQUIRED UNDER COMPANIES (DISCLOSURE OF PARTICULARS TNTHE REPORT OF BOARD OF DIRECTORS) RULES, t9i]8:

The disclosures required under the Companies (Disclosure of Particulas in the Report of the Board ofDirectors) Rules, I 988 are stated as below:

A. CONSERVATION OF ENIRCY:fr: Co.Tp"nL is not undertaking any energy consumption aclivity currently. However, the Company isundertaking all necessary steps to prevent unnecessary inergy consumption.

B. TECHNOLOGYABSORPTION:

The compary has the updated technorogy alairabre with the company, and is undertaking ail steps forimproving the technology available with the Company.

C. TOREIGN EXCHANGE EARNINGS AND OUTGO:

The Total Foreign Exchange Earnings and Outgo are as follows:Foreign Exchange Inward RemittanCes (in Rs.): NilForeign Exchange Outward Expenses (in Rs.): Nil

Mumbai,30rh May 20t3

By order of the Board,


Sunil VankawalaDiretor

t11

AUDITORS' REPORT TO THE MEI\4:BERS pI.THE-OIiYMP:I+ SEqUBITIES IiIMITEDWe have audited the uttu"h. ed as at 3l"t March

2013 and the profit unA I-ori ;;;;; io. ii," y"ui "rded

on that date annexed thereto' These

Financial statements are ttre responsiuitity or the company's management. our responsibility is to

.*pi"it ut opi"ion on these Financial Statements based on our audit'

WeconductedourauditinaccordancewithAuditingStandardsgenerally.acceptedinlndia.Those Sta.dards require tt", *" pf""

""0 peifor- ttte iudit to obtain reasonable assurance about

whether the Financial staie,r,elts ur. fr". of material misstatement. An Audit includes

examining, on a test uu.ir,'"ria"n." supporting.the amounts and disclosures in the financial

statements .An audit urro in"iua", as.lising 'ihe

accounting principle. used and, significant

estimates made by ,unug"ran,,-ri *af as evaluating ihe,overall financial statement

pr"t"ri"ti"". w. u"il"r. tt'tu:t *, audit pto'ides a reasonable basis for our opinion'

1)AsrequiredbytheCompanies(Auditol'sReport)Order,2003issuedbytheCentralGovemmentinterms of Section 227(4A) oiit

" corpuni"s Act, 1956, we annex hereto a statement on the matter

specified in paragraph 4 and 5 the said order to the extent applicable to the Company'

2) Fulther to our comments in the Annexure referred to in paragraph ( I I u.bout:.

a) We have outuin"i'uii tt" information and explination:' Y-hi:.l,:" the best of our

knowledge and belief were necessary for the purposes ot our auoll'

b) In our opinion, the corrpany has kept proper books ofaccount as required by law so' far as appears From our exatnination of the books'

c) The Balance Sheet and Profit & Loss

agreement with the books of account'

Mumbai, 30th May 2013

Account dealt with by this report are in

HIREN MEHTAPROPRIETOR

MembershiP no 106567

d) ln our opinion, the cotnpany has colnplied with. all the mandatory Accounting

Ii";J;t;J ;t p.e."riuea ,iJ"i section 2 l'l (3C) of the Companies Act' I 956'

e) In out opinion and to the best of our information and according to the exp^lanations

eir.;t"';, the said *.;;;;;;;;Ji;gether with notes thereon' give the information

required by the Companies nct, f SS6 in the manner so required and give a true and

fail view:

i. ln the case ofthe Balance Sheet ofthe state ofaffairs ofthe company as at 3l't

March 2013.

ii. ln the case of Profit & Loss Account of the loss of the company for the year ended

on that date.O On tf," basls ofthe written representations from.the directors' taken on record by

the Board of Directors,'-n"""'"iit" directors is disqualified.asôn 31" March,

20l3from being appoin"ied u,-ai'="to' under section 27a (l) (g) ofthe Companies

Act' 1956' FoR HIREN& co'

Chartered AccountantsFirm Registration no- I 19281 W

4\

ANNEXURE TO THE AUDITORS' REPORT(Referred to in paragraph 3 of the Auditors Report of even date to the members of orympia

Securities Limited on the accounts for the year ended 3l.,March 20lJ)

(D a) .The Company has maintained ptoper records shorving full particulars includingquantitative details and the situation of fixed assets.

b) The fixed assets have been physicalry verified by the management dur.ing the year. Nodiscrepancies were noticed on such verification.

c) The Company has not disposed off any substantial part of its Fixed Assets so as toaffect its going concern.

(iD a) As explained to us, the management at reasonable intervals has physically verifiedthe Stock of Shares, debentures and other Securities.

b) The procedure folrowed by the Managernent for physicar Verification of stock ofshares, debentures and Securities are in oui opinion reasonable and adequate in relationto the size olthe Company and the nature of iis business.

c) As explained to us, no disclepancies were noticed on such verification between thebook records and physical stock ofshares, debentures and Securities.

(iii) a) The Company has neither taken nor given any roans, secured or unsecured fromcompanies, firms or other pafties covered ir.r the register maintained under section 301 (l-C) ofthe Companies Act, 1956.

(iv) In our opinion and according to the information and explanations given to us, there areadequate internal Control procedures commensulate with the iize ofthe iornpany urd nutr.. ofits business for the purchase offixed assets.

(v) In our opinion and according to the information and explanations given to us the, there wereno transactions that need to be entered to be entered in tire registerinaintaineJ in pirsrun." orsecrion 301 ofrhe Act.

(vi) In our opinion and according to the information and expranations given to us the companyhas not accepted any deposit wirhin the meaning of thi provision"of Section sgR or rn"Companies Act, 1956.

(vii) . ln our opinion and according to the expranation given to us, the company does not haveinternal audit system.

(viii) The Central Govemment has not plesclibed maintenance ofcost records section 209(l) (d) ofthe Companies Act, 1956.

(ix) a) we are informed that during the year under review, the company has generaily regurar indepositing all the undisputed statutory dues including Income tax, wealth tax, sales tax, cusromdutyand excise duty and any other dues where ever i'ppricable. There is no r"airort.a amountsnot deposited due over six months from the aate ttrey became payabre as on rast day of thefinancial year..

b) According to the information and_expranation given ro us, no disputed amounts payabre inrespect of Income tax, wearth rax, SarJs Tax, cirstom Duty, Excise Duty and 6ess we,eoutstanding as at 3 I st March 201 3.

(x) The accumurated losses of the company at the end of frnanciar year are more than fiftypercent of its net worth and the company iras not incurreil cash losses in rhe cLrrreni linancialyear.

di(

(xi) ln our opinion and accolding to the information and explanations given to us, the companydoes not have any dues to any Bank and has not issued any debenturei. Hence, tie question ofcommenting on default ofrepayments does not arise.

(xii) In our opinion and on the basis ofinformation and explanations given to us, the company hasnot granted loans and advances on the basis ofsecurity by way ofpledge ofshares, debenturesor other Securities.

(xiii) In our opirrion and according to the information and explanation given to us, the nature oftheactivities of the company does not attract any special statute applicable to chit fund and nidhi/mutual benefi t fund/societies;

(xiv) In our opinion the company has nraintained proper records of the transactions and contractsof the investments dealt in by the cornpany and timely entries have been made therein. Theshares, securities, debentures and other securities have been held by the company, in its ownname except to the extent ofthe exemption, ifany, granted under section 4g ofthe Act;

(xv) According to the information and explanations given to us and the records examined by us,the.company has not given any guarantee for loans taken by others from bank or financialinstitutions, the tems and conditions whereof are prejudicial to the interest of the company;

(xvi) The comparry has not applied for term loans during the year.

(xvii) The company has not raised funds on shoft-term basis.

(xviii) The Cornpany has not made any pretbrential allotment of shares to parlies or cornpaniescovered in the Register rraintained under section 301 ofthe Act.

(xix) Since the company has not issued any debentures, the question ofcreation ofsecurity doesnot arise.

(xx) The conrpany has not raised money through a public issue during the year.

(xxi) No fraud on or by the company has been noticed or reported during the year.

MUMBAI,30'h May 2013

FORHIREN & CO.Chartered Accountants.

Firm Registration no.t t92El\t

(HIREN MEHTA)(PROPRTETOR)

Membership no 106567

1rt

OLYMPIA SECURIETIES LIMITEDBalance Sheet as at

As per our reportFor Hiren & Co. For and on behalfofthe Board ofDirectorsChartered Accountants( Firm Reg No I I 9281 W)

Ram Ratan Kanoongo Sunil Vankawala(Hiren M Mehta) Director Director(Proprietor)Membership No: 106567

MumbaiDate:- 30-05-201 3

n

ParticularsNote No. 3l March 2013 31 March 2012

I.

)

3

II.

2

OQUITY AND LIABILITIESihareholders' funds(a) Share capital(b) Reserves and surplus

\on-current Iiabilities(a) Other Long term liabilities

Surrent liabilities(a) Other current liabilities

{ssETs\,lon-current assets

.a) Fixed assets

(i) Tangible assets

3urrent assets

.a) Inventories

b) Cash and cash equivalents

.c) Short-term loans and advances

.d) Other current assets

TOTAt

TOTAI.

,3

4

!r

6

7

8

9

l0

14,499,70(fi.081.466'

14,499,704(1.02s.6701

13.418.234 13.474.030

500,000

s00,000

n.236 10.00c

rr.236 10.000

t3,429,470 13,984,030

4.742.831 5,355.7r 9

4.742.837 5.355.719

6,350,9 I 3

934,478

114,205

t,287,0378.686-633

6,355,46392s,826

108,77s

1,238,2478-rt28.31I

t3.429.470 1J,9E4,0J0

See accompanying notes forming part of the financial statements I

OLYMPIA SECURIETIES LTMITEDStatement of Profit and loss for the year ended

As per our report ofeven date attachedForHiren &Co, ForandonbehalfoftheBoardofDirectorsChartered Accountants

( Firrn Reg No I 19281 W)

Ram Ratan Kanoongo Sunil Vankawala(Hiren M Mehta) Director Director(Proprietor)


MumbaiDate:- 30-05-20 I 3

ln

ParticularsNote No. 3l March 2011 3l March 2012

l.Il.It.IV.

vt

VII

VIII

IXx

Revenue liom operations

Other income

Sundry Bal w/backTotal Revenue (l + III)

Expenses:

Changes in inventories of Stock-in-TradeDepreciation and amortiation expense

Other expenses

Total expenses

Profit before tax

Tax expense:

Current tax

Profit (Loss) for the period from c0ntinuing operations


Earnings per equity share:

Basic & Diluted

II

l26

l3

9 1,020

s00 000

146,406

591,020 146.406

4,550

6t2,88229.384

15,901

6t2,88232,503

646.816 661,286

(s5,796 (s 14,880

(55,796 (5 r4,880

(55,796 (5t 4.880

(0.04 (0.36)

}ee accompanyinq notes forminq part of the financial statements

ffiut.."rt. fo. th" ru", "nd"tl

31" Mut"h 2013

1. SIGNIFICANT ACCOUNTING POLICIES:.

'l "::'""'lli':*h the GenerallY

Accepted Accounting pri*ipi.; ii"fnii^ ifnAian CAnpr i[ .o.ply with the Accounting Standards

notified under tr',. co*puni!"ii:'il;;;t;;du'd') R;L;''2d01 (as amended) and the relevant

provisions or the Companie:'i'fi;il: t'f' ;'1"*t':t:;;"" r'''"" ut"n prepared on accrual basis

under the historical "o't conuention The accounting p()iiti"' ^l"ptta

in the preparation of the

financial statements u'" toJ'itni *ith those followed in the previous year'

1.2 Use of estimate$ -

ThepreparationolthellnancialstatementsinconformitywithlndianGAAPrequirestheManagementto make esrimates ""d "J;p,i;;;

'."rrio.*a i" ,h; ;;;;;-u*oun,. of u$"tt.and liabilities

(including contingent rrôirlliJ'i"'"a"ir';;p*; i"';;;;; '*p'n'"' during the vear' rhe

Munug"*.nr believes that tie-"1'i''u"' u"d'in p"p^'uti;;;ith" dnancial statements are prudent

and reasonable. eu,ur" r...rf',, "oriJaiii.. au. io itt"r.'l'tiituitt una the differences between the

actual results uno tttt t'ii'iuit'""* *t"g"i'"a in trtt p"'"toit- in which the results are known /

materialise.

1.3 Tansible fixed assets:-Fixed assets' are carried at cost less accumulated depreciation'

1.4 DeoreciationDepreciationhasbeenpr.ovidedonstfaight.linemethodattheratesandinthemannerprescribedinsieaut" XIV to the Companies Acl' 1956'

1.5 Inventories

,m^,ffi:":lii::T:i:lil"":i:i",i,x'"';H;:ue' is re"' where no market quotes are ava,abre

value is taken at Rupees one per company

(b)UnquotedShares:-AtcostorBreakupValueWhicheverislower.AsperthelastauditedBalancesheet available with the cotnpany'

1.6 Income and ExPenses: -

All income and expenses are accounted on accrual basis'

1.7 Taxes on incomeCurrenttaxistheamountoftaxpayableonthetaxableincomefortheyearasdeterminedinaccordance with the provisions ofthe lncome Tax Act' 1961'

MinimumAlternateTax(MAT)paidinaccordancewilhthetaxlaws,whichgivesfutureeconomicbenefits in rhe forrr of adjustment to lurure in.o.. ,u*'iiuiirity- is contioerea as.an asset if there is

convincing evidence tt,ui-it,. ionlpuny will pay.normai'f ^."*.'"-. Accordingly,-MAT is recognised

as an asset in tt,. e^run.;'ihJil; it is'probable;;;i;;...ono*i. benifit associated with it

will flow to the ComPanY'

TheCompanyisentitledforsetoffofcarrieclforwardlossesandunabsorbed'depreciationagainstthefuture income una., t},""t,-"o*.iax Act, 1961. However, based on present Scenario, as the Company

is not confident.r.^.r"g rrin.i.nipr"no to rrilir. tir;.;.rried fonvard.losses and unabsorbed

depreciation, th" c"rn;;'i;H ;;"il;;q,i1t::,1'*o tax assets as provided in the Accountrng

Standatd 22 issued uy the institute ofCianered Accountants of India

i-'

OLYMPIA SECURITIES LIMITEDNotes formine pari of the financial statements for the vear ended 31"' March 2013

* Claims:-

Due to Non-receipt offunds fi.om its clients in 2001, the company has stopped trading operations at

its various branches in July 2001. To counter the company move, the Director in charge at Jaipur in

collusion with various clients filed cotrplaints against the company at NSE. Based upon the

Complaints, The NSE withdrawn company's trading facility with effect from lst J_anuary2o02'The

NSE, without restoring the trading facilities, has demanded additional security deposit from the

Company which the iorpuny co-uld not deposit so the NSE expelled th9 .c9mn1n1 from its

*.rnt".ihip on 8th Novem'ber 2002 and forfeited its deposit. The NSE has called for claims against

the Cornpany frorn public by giving public notice. The Nse has not informed to the company about

the final outconre ofthe claims against the Company.

The Company has filed and got award in its favour for various cases against its clients amounting to

Rs.358.09 lacs at Nse Arbitration Tribunal. Similarly various clients have also filed and got award

against the Company amounting to Rs 60.64 lacs at Nse Arbitration Tribunal'

1.9 Since the Cornpany is engaged in financial Services activity no separate information for segment

wise disclosure is required


As at 3l Marchz0tz

Claims not acknowledged as debts 60.64 lacs 60.64 lacs

For Hiren & Co.Chartered Accountants(Firm Registration no-119281w)

Hiren H Mehta(Proprietor)M No 106567Mumbai,30'h May,20l3

1.10BasicEarnings Per Share has been computed as under: As at 31 March

2013

As at 3l March2012

Profit (Loss) After Taxation 55796\ (5 I 48E0)

Weishted Averase Nurnber of Equitv Shares 1449970 1449970

Basic and Diluted Eaminss Per Share (') (a)/(b) (0.04) (0.36)

Nominal value of share ({) l0 l0

I.1l i) The conrpany does not have any dues payable to any small-scale industries undertaking as on

3l .03.2013.

ii) The above information lras been compiles in respect ofparties to the extent to which they could

be identifies as small scale and ancillary undenaking on the basic of information available with

the company.

1.12 Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the

current year's classification / disclosure.For and behalf of the Board of Directors

Ram Ratan Kanoongo

Sunil Vankawala

Mumbai 30rn May, 20lJ

OLYMPIA SECURITIES LIMITEDNotes fornring part of the Iinancial statements

NOTE- 4

NOTE 5

As at 31 March 201

50.000,000

I 4,499,700

14,499,700

Equity Shares of{ l0 each

5000000 Equity Shares oft l0 each)

Issued

14,4g,g70 (Previous year 1449970) Equity Shares of

l0 each fully paid uP

Subscribed & Paid uP

14,49,g70 (Previous year 1449970) Equity Shares of

I 0 each fullv pai

Reserves & Surnlus

As at 3l March201 3

As at 31 March 2012

tr. Securities Premium Account

Cpening Balance

Closing Balance

b, SurplusOpening balance

(+) Net Profit/(Net Loss) For the current year

Closing Balance

zt .7 49.250 2t,7 49,250

2t.749,250 21,749,250

(22;174,e20(5s,796

(22,260,040(s l 4,880

(22.8f0.716 (27.7i4.920

Total (1.08r.466)l (1,025,670'

Other lons-term liabilities

As at 3t March 2013 As at 3l March 2012

t)thersI'rade/ Security Deposits received 500.000

Tota 500,000

Other Current Liabilities

As at 31 March ,

201 3

As at 31 March 2012

t t

a) Expenses payables I 1,236 l 0.000

Total r,236 10,000

5.

OLYMPIA SECURITIES LIMITEDNotes forming part of the linancial statements

*(Under Pledre with

NOTE 2B

14.49.970 Equity Shares ( 1449970) are held by Olympia Capitals Ltd ' the holding company'

NOTE 2C

and at the end of th€Reconciliatioo ofthe number olshares and

As at 3l March 2013

at the end ofthe

SR NO Name of Shareholder

As at 3l March 2013 As at 3l March 2012

No. ofShares i' of Holdin

No. ofShares 7o of Holding

* olvmnia Ca.itals Ltd & its nominee 144997\ 1000/ 144997( tw.l

)i,

:$ g6E=d

sgi::9F

:F s aî6<jS60s

F B6E.dR*3=:d€

F9;ElXm€q'i;îs

'9:E-;!:6r

o

gE;

r@qELO

tsts

.: [\

OLYMPIA SECURJTIES LIMITEDNotes forming part ofthe financial statementsNOTE 7

Inventories (Valued at cost or market value whichever is

lower)

As at 31 March2013

As at 31 March 2012

d. Stock-in-trade ( shares & Securities) 6,350,9 r 3 6,355,463

Tota 6J50.913 6,355,463

NOTE 8

Cash and cash equivalentsAs at 3l March

2013As at 3l March 2012

a. Balances with banks

b. Cash on hand

842,209

92,269

833,55 7

92.269

Tota 934.478 925.826

Short-tertn loans and advances Unsecured considered good,

unless otherwise stated:

As at 3l March As at 31 March 201

Others loan and advanes

Advance tax & tds 10E,775

NOTE 10

Other Curren AssetsAs at 31 March

2013As at 31 March 2012

(Others

Deposit with NSE 1.2E',1.03', t-238.241

Total 1.2E7.0J7 r238.241

OLYMPIA SECURITIES LIMITED

Notes forming part ofthe financial statements

NOTE 1I

Other lncome

Year endedffi?

45483nterest Income

Tex refirndl 00923

3680C

Total 91,020 I46,4UO

Nr)TE I2

Changes in inventories of Stock-injl rade(

Shares & securities) f {6,3 55,463 6,371 ,364

6,350,9 I 3 6,35s,463

Total 4.550 t 5.901

NOTE I3

Other Expenses (7,000

8,000

3.1 20

4,250

l 5,000

3,0!q

Filine Fee (ROC)

Professiona Fee

I I,236 I 0.000

Bank ChargesTotal

28 165

29,384 32,503

L >r

OLYMPIA CAPIT,ALS LIMITED

Registered office 52, Level Il, Dewan Centre S V Road,Jogeshwari (w), Mumbai-400 102

ATTENANCE SLIPI hereby record my presence at the 26th Annual General Meeting of the Company atRegistered of{ice of the Company on Saturday 28th September 2013 at 9.30 a,m.Folio No._

Full Name of the Shareholder_Signature

FullName of the Proxy Signature

OLYMPIA CAPITALS LIMITEDRegistered office: - 52, Level I I, Dewan Centre, S V Road,

Jogeshwari (w), Mumbai-4O0 102

PROXY

of in the district of

Member(s) of Olyrnpia Capitals Limited hereby appoint

of in the district of

ofOr failing him

ln the district o|- as my/our proxy to attend and vote for me/usandmy/ouru"ffilMeeting.ofih"Co,punytobeheldonSaturday, 28th September, 2013 at 9.30 a.m. at Registered office of the Company.

Signed this day of )ot1

Reference Folio No:

No. ofshares held

lAffix I

130 paise | .

lRevenue I' I Stamo I

Note: The proxy form must be deposited at the registered oflice of the company not lessthen 48 hours before the commencement of the meeting,

Documents

OLYMPIA CAPITALS LIMITED · OLYMPIA CAPITALS LIMITED DIRECTORS' REPORT Dear Shareholders, Your Directors present the 26h Annuar Report arong with Audited the year ended sJatement