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