Financials

Performance

AGROHA CO-OPERATIVE URBAN BANK LIMITED

21-1-974, Opp. High court, Gansi Bazar, Hyderabad

SIGNIFICANT ACCOUNTING POLICIES

REPORT OF THE BOARD OF DIRECTORS COVERING

AGROHA CO-OPERATIVE URBAN BANK LIMITED

BALANCE SHEET AS ON 31ST MARCH 2021
Schedule 31.03.2021 31.03.2020
Rs. Rs.
CAPITAL & LIABILITIES
Capital 1 32,852,900.00 33,264,600.00
Reserves & Surplus 2 75,589,129.06 73,996,226.58
Deposits 3 569,522,817.81 572,960,492.71
Other liabilities and provisions 4 23,678,820.23 22,993,054.48
Deferred Tax Liability 0.00 0.00
TOTAL: 701,643,667.10 703,214,373.77
ASSETS
Cash and Balances with R B I 5 13,073,780.00 10,527,828.08
Balances with banks and money at call and short Notice 6 132,944,394.46 119,946,127.32
Investments 7 192,199,000.00 230,630,750.00
Advances 8 349,421,009.77 325,496,610.88
Fixed Assets 9 2,198,882.37 2,494,587.63
Other Assets 10 8,145,697.50 9,914,956.86
Miscellaneous Expenditure 11 3,581,888.00 4,108,569.00
Deferred Tax Asset 79,015.00 94,944.00
TOTAL: 701,643,667.10 703,214,373.77
Contingent Liabilities: Unclaimed Deposits with RBI 755,563.10 664,759.00
Contingent liabilities: Bank Guarantees – –
(DANTU VIJAY ADITYA) (SANJAY KUMAR PASARI) (RATAN GUPTA)
DIRECTOR VICE-CHAIRMAN CHAIRMAN
As per our Report of even date
For Venkatappaiah & Co
(D.LAKSHMANA RAO) CHARTERED ACCOUNTANTS
CHIEF EXECUTIVE OFFICER FRN:0004617S
K. RAJA KRISHNA
Proprietor
M.No.217863
Date: 30.06.2021
Place: Hyderabad
AGROHA CO-OPERATIVE URBAN BANK LIMITED
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED MARCH 31, 2021
Schedule 31.03.2021 31.03.2020
Rs. Rs.
I. INCOME
Interest earned 12 61,852,186.85 64,238,759.49
Other income 13 1,418,920.62 1,204,422.65
TOTAL: 63,271,107.47 65,443,182.14
II. EXPENDITURE
Interest expended 14 45,651,505.26 45,547,150.85
Operating expenses 15 11,879,668.32 11,712,007.36
Income tax Paid 1,712,864.00 2,510,907.00
Provisions and contingencies 188,929.00 39,389.00
TOTAL: 59,432,966.58 59,809,454.21
III. PROFIT
NET PROFIT FOR THE YEAR 3,838,140.89 5,633,727.93
IV. APPROPRIATIONS
a) Statutory Reserve Fund 959,535.22 1,408,431.98
b) Co-operative Education Fund 176,196.00 198,960.00
c) Common Good Fund 38,381.41 56,337.00
d) Staff Welfare Fund 38,381.41 56,337.00
e) Proposed Dividend 2,619,901.00 0.00
f) Balance to General Reserve Fund 5,745.85 3,913,661.95
TOTAL: 3,838,140.89 5,633,727.93
Significant Accounting Policies 16
Notes to Accounts 17
(DANTU VIJAY ADITYA) (SANJAY KUMAR PASARI) (RATAN GUPTA)
DIRECTOR VICE-CHAIRMAN CHAIRMAN
As per our Report of even date
For Venkatappaiah & Co
(D.LAKSHMANA RAO) CHARTERED ACCOUNTANTS
CHIEF EXECUTIVE OFFICER FRN:0004617S
K. RAJA KRISHNA
Proprietor
Date: 30.06.2021 M.No.217863
Place: Hyderabad 10
SCHEDULE – 1
CAPITAL
31.03.2021 31.03.2020
Rs. Rs.
AUTHORISED SHARE CAPITAL:
“A” Class Shares 10,00,000
of Rs.100/- each 100,000,000.00 100,000,000.00
(Previous Year: 10,00,000 Shares)
PAID UP SHARE CAPITAL:
“A” Class shares 3,28,529 of Rs.100/- each fully 32,852,900.00 33,264,600.00
paid (Previous Year: 3,32,646 Shares)
TOTAL: 32,852,900.00 33,264,600.00
SCHEDULE – 2
RESERVES & SURPLUS
31.03.2021 31.03.2020
Rs. Rs.
STATUTORY RESERVE FUND
Opening Balance 28,587,026.39 27,178,594.41
Addition during the year 959,535.22 1,408,431.98
29,546,561.61 28,587,026.39
EDUCATION FUND
Opening Balance 1,824,947.00 1,749,686.00
Addition during the year 176,196.00 198,960.00
Less: Paid during the year 46,500.00 123,699.00
1,954,643.00 1,824,947.00
COMMON GOOD FUND
Opening Balance 611,731.79 585,394.79
Addition during the year 38,381.41 56,337.00
Less: Paid during the year 210,000.00 30,000.00
440,113.20 611,731.79
GENERAL RESERVE
Opening Balance 40,657,658.40 36,163,065.45
Add.Transfer from P&L A/c. 5,745.85 3,913,661.95
Add. Forfeiture of Dividend 668,684.00 580,501.00
Add. Transfer Entrance fee 860.00 430.00
41,332,948.25 40,657,658.40
SPECIAL RESERVE U/s 36(1)(VIII)
Opening Balance 2,314,863.00 2,314,863.00
Addition during the year 0.00 0.00
2,314,863.00 2,314,863.00
TOTAL: 75,589,129.06 73,996,226.58
(DANTU VIJAY ADITYA) (SANJAY KUMAR PASARI) (RATAN GUPTA)
DIRECTOR VICE-CHAIRMAN CHAIRMAN
As per our Report of even date
For Venkatappaiah & Co
(D.LAKSHMANA RAO) CHARTERED ACCOUNTANTS
CHIEF EXECUTIVE OFFICER FRN:0004617S
Date: 30.06.2021 K. RAJA KRISHNA
Place: Hyderabad Proprietor
11 M.No.217863
SCHEDULE – 3
DEPOSITS
31.03.2021 31.03.2020
Rs. Rs.
I. Current Deposits
(i) From banks – –
(ii) From others 27,698,013.85 14,386,647.51
II. Savings Bank Deposits 51,376,650.96 36,170,158.20
III. Term Deposits
(i) From banks – –
(ii) From others 490,448,153.00 522,403,687.00
TOTAL : 569,522,817.81 572,960,492.71
SCHEDULE – 4
OTHER LIABILITIES AND PROVISIONS
31.03.2021 31.03.2020
Rs. Rs.
I. Interest Provision on FDR – –
II. Others (including Provisions) 23,678,820.23 22,993,054.48
TOTAL: 23,678,820.23 22,993,054.48
(DANTU VIJAY ADITYA) (SANJAY KUMAR PASARI) (RATAN GUPTA)
DIRECTOR VICE-CHAIRMAN CHAIRMAN
As per our Report of even date
For Venkatappaiah & Co
(D.LAKSHMANA RAO) CHARTERED ACCOUNTANTS
CHIEF EXECUTIVE OFFICER FRN:0004617S
K. RAJA KRISHNA
Proprietor
M.No.217863
Date: 30.06.2021
Place: Hyderabad
12
SCHEDULE – 5
CASH AND BALANCES WITH RESERVE BANK OF INDIA
31.03.2021 31.03.2020
Rs. Rs.
I. Cash in hand 13,073,780.00 10,527,828.08
II. Balances with Reserve Bank of India
(i) in Current Account – –
(ii) in Other Accounts – –
TOTAL: 13,073,780.00 10,527,828.08
SCHEDULE – 6
BALANCES WITH BANKS AND MONEY AT CALL AND SHORT NOTICE
31.03.2021 31.03.2020
Rs. Rs.
(i) Balances with Banks
(a) in Current Accounts 38,944,394.46 38,946,127.32
(b) in Deposit Accounts 49,000,000.00 41,000,000.00
(ii) Money at Call & Short Notice 45,000,000.00 40,000,000.00
TOTAL: 132,944,394.46 119,946,127.32
(DANTU VIJAY ADITYA) (SANJAY KUMAR PASARI) (RATAN GUPTA)
DIRECTOR VICE-CHAIRMAN CHAIRMAN
As per our Report of even date
For Venkatappaiah & Co
(D.LAKSHMANA RAO) CHARTERED ACCOUNTANTS
CHIEF EXECUTIVE OFFICER FRN:0004617S
K. RAJA KRISHNA
Proprietor
M.No.217863
Date: 30.06.2021
Place: Hyderabad
13
SCHEDULE – 7
INVESTMENTS
31.03.2021 31.03.2020
Rs. Rs.
(i) Government Securities 138,199,000.00 177,630,750.00
(ii) Other Approved Securities – –
(iii) Shares/Mutual funds 34,000,000.00 33,000,000.00
(iv) Debentures and Bonds 20,000,000.00 20,000,000.00
(v) Subsidiaries and / or Joint Ventures – –
(vi) Others – –
TOTAL: 192,199,000.00 230,630,750.00
SCHEDULE – 8
ADVANCES
31.03.2021 31.03.2020
Rs. Rs.
A. (i) S T Overdraft – –
(ii) Cash Credits, Overdrafts and Loans repayable on demand 257,661,775.77 266,514,991.88
(iii) Term Loans 91,759,234.00 58,981,619.00
Total: 349,421,009.77 325,496,610.88
B. (i) Secured by Tangible assets 346,649,453.77 325,123,181.88
(ii) Covered by bank / government guarantees – –
(iii) Unsecured 2,771,556.00 373,429.00
Total: 349,421,009.77 325,496,610.88
C. I. Advances in India
(i) Priority sectors 293,362,244.00 262,122,212.00
(ii) Public sector – –
(iii) Banks – –
(iv) Others 56,058,765.77 63,374,398.88
Total: 349,421,009.77 325,496,610.88
II. Advances Outside India – –
GRAND TOTAL (C. I & C.II): 349,421,009.77 325,496,610.88
(DANTU VIJAY ADITYA) (SANJAY KUMAR PASARI) (RATAN GUPTA)
DIRECTOR VICE-CHAIRMAN CHAIRMAN
As per our Report of even date
For Venkatappaiah & Co
(D.LAKSHMANA RAO) CHARTERED ACCOUNTANTS
CHIEF EXECUTIVE OFFICER FRN:0004617S
K. RAJA KRISHNA
Proprietor
Date: 30.06.2021 M.No.217863
Place: Hyderabad 14
SCHEDULE – 9
FIXED ASSETS
31.03.2021 31.03.2020
Rs. Rs.
1. Furniture & Fixtures
At WDV as on 31st March of the preceding year 1,890,860.67 2,100,956.30
Additions during the year 3,600.00 0.00
Depreciation for Current Year 189,146.07 210,095.63
1,705,314.60 1,890,860.67
2. Electricals Fittings
At WDV as on 31st March of the preceding year 271,136.76 301,263.07
Additions during the year 0.00 0.00
Depreciation for Current Year 27,113.68 30,126.31
244,023.08 271,136.76
3. Computers
At WDV as on 31st March of the preceding year 323,228.20 3,107.34
Additions during the year 26,150.00 336,440.00
Depreciation for Current Year 109,195.51 16,319.14
240,182.69 323,228.20
4. Library Books
At WDV as on 31st March of the preceding year 9,362.00 9,362.00
Additions during the year 0.00 0.00
9,362.00 9,362.00
TOTAL: 2,198,882.37 2,494,587.63
SCHEDULE – 10
OTHER ASSETS
31.03.2021 31.03.2020
Rs. Rs.
I. Interest accured on Investments 3,657,778.00 4,585,595.17
II. Tax paid in advance/Tax Deducted at Source 1,706,181.00 2,486,252.00
III. Stationery and Stamps 189,786.05 204,395.30
IV. Others 2,591,952.45 2,638,714.39
TOTAL: 8,145,697.50 9,914,956.86
(DANTU VIJAY ADITYA) (SANJAY KUMAR PASARI) (RATAN GUPTA)
DIRECTOR VICE-CHAIRMAN CHAIRMAN
As per our Report of even date
For Venkatappaiah & Co
(D.LAKSHMANA RAO) CHARTERED ACCOUNTANTS
CHIEF EXECUTIVE OFFICER FRN:0004617S
K. RAJA KRISHNA
Proprietor
M.No.217863
Date: 30.06.2021
Place: Hyderabad 15
SCHEDULE – 11
MISCELLANEOUS EXPENDITURE
Premium Paid on Govt. Securities 31.03.2021 31.03.2020
8.31% Telangana SDL 2025 24,000.00 30,000.00
7.95% MAHSDL 2023 1,250.00 1,875.00
6.17% GOI 2023 20,250.00 30,375.00
8.05% GUJ SDL 2028 2,313,888.00 2,644,444.00
7.61% TS SDL 2027 618,750.00 721,875.00
7.23% KA SD 2028 43,750.00 50,000.00
10.23% GHMC Bonds 2029 560,000.00 630,000.00
3,581,888.00 4,108,569.00
SCHEDULE – 12
INTEREST EARNED
31.03.2021 31.03.2020
Rs. Rs.
I. Interest Collected on Advances 40,606,274.00 41,872,607.79
II. Interest Income on investments 21,245,912.85 22,366,151.70
III. Others – –
TOTAL: 61,852,186.85 64,238,759.49
(DANTU VIJAY ADITYA) (SANJAY KUMAR PASARI) (RATAN GUPTA)
DIRECTOR VICE-CHAIRMAN CHAIRMAN
As per our Report of even date
For Venkatappaiah & Co
(D.LAKSHMANA RAO) CHARTERED ACCOUNTANTS
CHIEF EXECUTIVE OFFICER FRN:0004617S
K. RAJA KRISHNA
Proprietor
M.No.217863
Date: 30.06.2021
Place: Hyderabad
16
SCHEDULE – 13
OTHER INCOME
31.03.2021 31.03.2020
Rs. Rs.
I. Commission, Exchange and Brokerage 276,969.85 378,718.47
II. Miscellaneous Income/Processing Fee 1,141,950.77 825,704.18
TOTAL: 1,418,920.62 1,204,422.65
SCHEDULE – 14
INTEREST EXPENDED
31.03.2021 31.03.2020
Rs. Rs.
I. Interest on deposits 45,651,505.26 45,547,150.85
II. Others – –
TOTAL: 45,651,505.26 45,547,150.85
(DANTU VIJAY ADITYA) (SANJAY KUMAR PASARI) (RATAN GUPTA)
DIRECTOR VICE-CHAIRMAN CHAIRMAN
As per our Report of even date
For Venkatappaiah & Co
(D.LAKSHMANA RAO) CHARTERED ACCOUNTANTS
CHIEF EXECUTIVE OFFICER FRN:0004617S
K. RAJA KRISHNA
Proprietor
M.No.217863
Date: 30.06.2021
Place: Hyderabad
17
SCHEDULE – 15
OPERATING EXPENSES
31.03.2021 31.03.2020
Rs. Rs.
I. Payments to and provisions for employees 5,328,080.00 5,177,038.00
II. Rent, Taxes and Lighting 1,014,602.00 998,512.00
III. Printing and Stationery 148,044.25 158,751.52
IV. Advertisement and Publicity 57,934.00 319,570.86
V. Depreciation on Bank’s Property 325,455.26 256,541.08
VI. Statutory Audit Fee 60,000.00 60,000.00
VII. Law charges 11,800.00 0.00
VIII. Postage, Telegrams, Telephones, Etc., 119,562.29 96,203.83
IX. Repairs and maintenance 134,378.00 177,399.62
X. Insurance 363,162.00 299,301.00
XI. Other expenditure 4,316,650.52 4,168,689.45
TOTAL: 11,879,668.32 11,712,007.36
(DANTU VIJAY ADITYA) (SANJAY KUMAR PASARI) (RATAN GUPTA)
DIRECTOR VICE-CHAIRMAN CHAIRMAN
As per our Report of even date
For Venkatappaiah & Co
(D.LAKSHMANA RAO) CHARTERED ACCOUNTANTS
CHIEF EXECUTIVE OFFICER FRN:0004617S
K. RAJA KRISHNA
Proprietor
M.No.217863
Date: 30.06.2021
Place: Hyderabad
AGROHA CO-OPERATIVE URBAN BANK LIMITED
Groupings: SCHEDULE-4 – II – Others 31.03.2021 31.03.2020
Provision on Standard Assets 1,415,121.00 1,415,121.00
Investment Depreciation Res. 430,850.00 430,850.00
Staff Welfare Fund 228,862.43 217,731.02
Provision for Income Tax 1,712,864.00 2,510,907.00
Unclaimed dividends 1,291,138.00 2,039,258.00
Dividend Payable 2,619,901.00 0.00
Banker’s cheques 651,242.30 2,685,193.20
Demand Drafts 2,821,689.20 1,185,430.00
Provision on Non-performing Assets 11,373,000.00 11,200,000.00
Ex-gratia/Incentive Payable 442,008.00 421,880.00
Provident Fund / ESI Payable 39,731.00 38,303.00
TDS Payable 559,043.00 816,654.00
ATM Settlement Account 75,242.82 11,456.30
GST Payable 18,127.48 20,270.96
23,678,820.23 22,993,054.48
Schedule-6(i)(a)
Balances with Banks : in Current Account: 31.03.2021 31.03.2020
State Bank of India, Nampally 0.00 1,044,231.43
Kotak Mahindra Bank (Clearing) 9,621,310.18 10,802,837.41
Axis Bank, Charminar 8,241,954.79 3,562,554.22
S.B.I. Exhibition Branch 6,477,990.79 12,215,539.99
ICICI Bank Collection 9,367,729.61 7,106,263.07
Kotak Mahindra Bank 1,056,320.62 692,210.62
ICICI Bank ATM Account 4,179,088.47 3,522,490.58
38,944,394.46 38,946,127.32
Schedule-6(i)(b)
Balances with Banks: In deposit Accounts: 31.03.2021 31.03.2020
AP Mahesh Bank 25,000,000.00 20,000,000.00
ICICI Bank Limited 1,000,000.00 1,000,000.00
Telangana Grameena Bank 20,000,000.00 20,000,000.00
Kotak Mahindra Bank 3,000,000.00 –
49,000,000.00 41,000,000.00
Other Assets: Others: SCHEDULE-10: IV 31.03.2021 31.03.2020
Deposit with Landlord 353,266.00 353,266.00
Prepaid Insurance 124,645.00 124,661.00
Income Tax receivable (FY 09-10,12-13,16-17, 17-18,18-19) 1,956,397.00 1,956,397.00
Festival Advance to Staff 25,945.00 25,780.00
GST Receivable 126,939.45 178,610.39
Sundry Debtors 4,760.00 –
2,591,952.45 2,638,714.39
19
AGROHA CO-OPERATIVE URBAN BANK LIMITED
Other expenses – Schedule-15(XI) 31.03.2021 31.03.2020
CPC 41,893.13 46,940.70
DICGC FEE 787,451.55 609,653.51
Conveyance 45,785.00 41,910.00
Subscription & Periodicals 10,850.00 13,683.00
Security Charges 126,922.00 116,684.00
ATM Charges 88,036.67 87,230.97
Car hire charges 402,690.00 403,150.00
AGM expenses 85,677.00 339,023.70
Subscription to Federation 53,850.00 52,250.00
Internet Charges 20,152.62 16,480.50
Audit fee (Concurrent + Tax) 247,271.00 216,234.00
Misc Expenses 461,990.00 351,189.00
Diwali Expenses 0.00 58,846.00
Election Expenses 205,586.00 0.00
Locker rent 0.00 826.00
Ammort. On Govt Securities 526,681.00 559,708.40
Bonus /Exgratia 442,008.00 421,880.00
Staff welfare expenses 301,512.00 360,259.00
Board Meeting Expenses 27,656.00 21,947.00
Commision paid/Bank charges 2,060.00 38,489.00
Software Expenses 319,861.00 305,688.50
Written Off Account 6,388.00 0.00
Professional Charges 63,940.00 60,680.00
Credit Information Services 48,389.55 45,936.17
4,316,650.52 4,168,689.45
Provisions and Contingencies(exp) 31.03.2021 31.03.2020
Provision on Standard Assets 0.00 0.00
Provision on Non-Performing Assets 173,000.00 0.00
Provision for Deferred Tax Asset – Net 15929.00 39,389.00
Prov. For Special Reserve 0.00 0.00
188,929.00  

39,389.00