Home  »  Company  »  Aadhaar Ventures Ind  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Aadhaar Ventures India Ltd.

Mar 31, 2015

1 Corporate Information

Aadhaar Ventures India Limited, (formerly known as Prraneta Industries Limited) was incorporated in February 1995, (bearing CIN No: L67120GJ1995PLC024449) having NBFC Registration with RBI, the Registered Office of the Company is Located at Office No. 4019, 4th Floor, World Trade Centre, Ring Road, Surat - 390002, Gujarat, The Company is engaged in trading, investing, infra and other operations. The activities of the Company include financing Periodical Loans, Equity Participation, supervisory and consultancy services, leasing, bill discounting and Trading of Textile Products.

2. Terms/Rights attached to equity shares

(i) The Company has only one class of Equity Shares having a par value of Rs 1/- each. Each Shareholder is eligible one vote per share. Any Shareholder whose name is entered in the Register of Members of the Company shall enjoy the same rights and be subject to the same liabilities as all other shareholders.

(ii) The dividend, if any, proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend.

(iii) In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

* The Company has not received any memorandum (as required to be filed by the Supplier with the notified authority under the Micro, Small and Medium Enterprises Development Act, 2006 claiming their status as on 31st March 2015 as Micro, Small or Medium Enterprises. Consequently the amount paid / payable to these parties during the year is NIL.

a) Key Managerial Person

Joyti Munver Director

Jils Raichand Madan Director

Somabhai S. Meena Director

Manish Bhupendra Thakkar Director

b) Transaction with related parties for the year ended are as follows;

Transaction /Nature of relationship

In view of the number of employees being below the stipulated numbers, the Provident Fund, ESIC, Bonus and payment of Gratuity Act are not applicable to the company for the year.

Note : 3 Earnings per share ('EPS')

Basic EPS is computed using the weighted average number of equity shares outstanding during the year. Diluted EPS is computed using the weighted average number of equity and dilutive equity equivalent shares outstanding during the period except where the results would be anti-dilutive.

Note : 4 Provisions and Contingent Liabilities

A provision is recognized when the Company has present obligation as a result of past events and it is probable that an outflow of resources will be required to settle such obligation, in respect of which a reliable estimate can be made. Contingent liabilities not provided for in the accounts are disclosed in the account by way of notes specifying the nature and quantum of such liabilities.


Mar 31, 2014

1 Corporate Information

Aadhaar Ventures India Limited, (formerly known as Prraneta Industries Limited) was incorporated in February 1995, under the Indian Companies Act 1956, and having NBFC Registration with RBI, the Registered Office of the Company is Located at Office No. 4019, 4th Floor, World Trade Centre, Ring Road, Surat, Gujarat-390002. The Company is engaged in trading, investing, infra and other operations. The activities of the Company include financing Periodical Loans, Equity Participation, supervisory and consultancy services, leasing, bill discounting and Trading of Textile Products

2 Basis of Preparation

The financial statements have been prepared to comply in all material respects with the notified Accounting Standard (''AS'') notified under the Companies Act, 1956 (the ''Act''), read with General Circular 8/2014 dated April 4, 2014 and as per the guidelines issued by Reserve Bank of India (''RBI'') as applicable to a Non-Banking Financial (Non-deposit accepting or holding) Companies (''NBFC Regulation''). The financial statements have been prepared under the historical cost convention on an accrual basis. The notified Accounting Standards (AS) is followed by the Company insofar as they are not inconsistent with the NBFC Regulation. The financial statements have been prepared on an accrual basis and under the historical cost convention. The accountings policies have been consistently applied by the Company are consistent with those in the previous year.

3.1 Terms/Rights attached to equity shares and Convertible Equity Warrants :

Equity Share

1. The Company has only one class of share capital, i.e. equity shares having face value of Re.1 per share. Holder of equity share is entitled to one vote per share

2. The equity shareholders are entitled to receive dividends as and when declared and approval in AGM

3. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the no. of equity shares held by the shareholder

* * *

Equity Warrants

1. The is no convertible equity warrants outstanding at the end of the year

2. An amount equivalent to 25% of the exercise price of the Equity Shares arising out of the Warrants shall be payable at the time of making the application for Warrants, which will be kept by the Company as a deposit to be adjusted and appropriated against the price of the Equity Shares payable by the Warrant Holder at the time of exercising the option.

3. The said Warrants shall be converted within a period not exceeding Eighteen Months from the date of Allotment of Warrants, in one or more Trenches, in accordance with the SEBI Guidelines and other relevant guidelines as may be prevailing at the time of allotment of shares.

4. In the event if the Warrant Holder does not exercise the option of conversion within 18 months from the date of allotment of Warrants, the Warrants shall lapse and the deposit of 25% as indicated in point (2) above shall be forfeited by the Company.

5. The issue of the Warrants as well as the Equity Shares, arising from the exercise of the option under the Warrants in the manner aforesaid shall be governed by the respective provisions of the Companies Act, 1956, the Memorandum & Articles of Association of the Company and also the Guidelines/Regulations issued by SEBI or any other authority as the case may be, or any modifications thereof.

6. The Warrant Holder shall be entitled to any future Bonus Issue(s) of Equity Shares or any other security (ies), in the same proportion and manner as any other shareholder of the Company. This entitlement is however subject to the exercise of the option by the Warrant Holder(s) to Convert the Warrants into Equity shares within the time limit specified in (3) above.

7. The Equity shares allotted on conversion of Warrants shall rank pari-passu in all respects including dividend with the existing fully paid up Equity shares of the Company and shall be subject to lock-in requirements as per the provision of Chapter VII of the SEBI Regulations.

4) Retirement Benefits

In view of the number of employees being below the stipulated numbers, the Provident Fund, ESIC, Bonus and payment of Gratuity Act are not applicable to the company for the year.

5) Earnings per share (''EPS'')

Basic EPS is computed using the weighted average number of equity shares outstanding during the year. Diluted EPS is computed using the weighted average number of equity and dilutive equity equivalent shares outstanding during the period except where the results would be anti-dilutive

6) Provisions and Contingent Liabilities

A provision is recognized when the Company has present obligation as a result of past events and it is probable that an outflow of resources will be required to settle such obligation, in respect of which a reliable estimate can be made. Contingent liabilities not provided for in the accounts are disclosed in the account by way of notes specifying the nature and quantum of such liabilities.


Mar 31, 2013

1. Previous year''s Figure

The Previous year''s figures tiaras been recast resealed, wherever necessary to confirms to current year classification

2. Related Party Transaction a I Key Managerial Person

OmPrakash A Khandelwal : Managing Doctor

Joyti Mover * . ; Chairman Nun Executive Independent Director

JJls RaJctiand Madan : Executive Director Professional

Subramanya Kunsur ; Non-Executive Director Professional

Mantah Bhupendra Thakksr : Non Executive Independent Oneself

3. Sundry Debtors Creditors, Loans & Advances and bantam balances are stated as appear in the books of accounts in the ordinary course of business The Guanos a:e un-confirmed and are subject to confirmation From the arty/Bank

4. investments in quoted or unquoted shares are subject to physical verifies

5. As per Accounting Standard 17 issued by the institute of Chartered Accountants of (India regarding Segmental Reporting As per the explanation and clarification given by the management the Company has following reported segment

6. Micro. Small and Medium Enterprises -

There are no Micro Small & Medium Enterprises in respect of whom the company''s dues are outstanding Jo* more man 45 days as at me balance sheet date