Inditrade Capital Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Dec 2018
Auditor and Management Disclosures and Notes for the quarterly results dated 31 Dec 2018
l. The above unaudited standalone financial results for the quarter/ nine months ended December 31, 2018 have been reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on February 04, 2019 and have been subjected to limited review by the statutory auditors. An unqualified opinion has been issued by them thereon.
2. The Company had only one segment, mainly consisting of stock broking, depository and related services and the operations are located in India.
3. The Board of Directors of the Company at its meeting held on May 18, 2018 approved the sale of its equity broking business (its only segment) by way of Slump Sale on a going concern basis, which was also approved by the members on July02, 2018 through postal ballot. The Company got necessary approvals from regulatory authorities and transferred the equity broking business to “ Choice Equity Broking Private Limited” from the close of business hours on December 28, 2018 on Slump sale basis and the resultant gain of Rs. 800.00 lakhs is included in exceptional item.
4. Exceptional Items represents Profit on Slump Sale - Rs. 800 lakhs, net of Irrecoverable Debts / Advances written off - Rs. 25.63 lakhs and Provision for Irrecoverable Debt / Advances - Rs.69.50 lakhs.
5. Figures for the earlier years / periods have been re-grouped wherever necessary to conform to the current period's classification.