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Notes to Accounts of Comfort Fincap Ltd.

Mar 31, 2015

1. Detailed note on the terms of the rights, preferences and restrictions relating to each class of shares including restrictions on the distribution of dividends and repayment of capital.

i) The Company has only one class of Equity Shares having a par value of Rs. 10/- per share. Each holder of Equity Share is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees.During the year ended 31st March 2015, amount of Dividend recognised as distributions to Equity Shareholders was Rs. 21,70,260/- (31st March, 2014 was Rs. 21,70,260/-).

ii) 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 number of Equity shares held by the shareholders.

2. Contingent liability not provided is Rs. Nil (Previous Year amounting Rs. Nil)

3. Profit / loss from F&O and Non Delivery transactions are accounted on net of brokerage paid.

4. Balances of the Sundry Debtors, Loans and Advances and Sundry Creditors are subject to confirmation and resultant reconciliation, if any.

5. There are no dues to Micro and Small Enterprises as at 31st March, 2015. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company.

6. In accordance with Accounting standard 'AS -18' relating to Related Party Disclosures, information pertinent to related party transaction is given as under:-

Parties where control exists: Nil

Parties with whom transaction have taken place during the year.

A. Name of the related parties & description of relationship

a) Key Managerial Personnel : Shri Bharat Shiroya (Managing Director) and their enterprises Shri Anil Kumar Nevatia (Director) Shri Sushil Kasturchand Jain (Director) Shri Jugal Thacker (Director) Smt. Annu Agrawal (Director) Shri Anil Agrawal (Director) Anil Agrawal -HUF (HUF of Mr. Anil Agrawal, Director)

b) Relative of Key : Miss. Deepika Agrawal (daughter of Managerial Personnel Director i.e. Anil Agrawal)

c) Associates : Comfort Securities Limited Comfort Intech Limited Liquors India Limited Lemonade Share & Securities Pvt. Ltd. Luharuka Tradelink Pvt. Ltd.

7. Segment Reporting

In the opinion of the Management, the Company is operating in a single segment only as per the provisions of the accounting standard AS-17, issued by the Institute of Chartered Accountants Of India.

8. The Previous years figures have been regrouped / rearranged / reclassified wherever necessary. Amounts and other disclosures for the preceding financial year are included as an integral part of current year's financial statements.


Mar 31, 2014

1. Contingent liability not provided is Rs. Nil (Previous Year amounting Rs. Nil)

2. Profit / loss from F&O and Non Delivery transactions are accounted on net of brokerage paid.

3. Advances recoverable in cash or in kind or for value to be received in respect of which company is fully secured includes:-

Particulars 2013-2014 2012-2013 (Rs.) (Rs.)

Secured against Immovable Property 9,97,14,844 7,10,07,336

Secured against Shares 2,19,05,710 5,56,15,560

4. Balances of the Sundry Debtors, Loans and Advances and Sundry Creditors are subject to confirmation and resultant reconciliation, if any.

5. There are no dues to Micro and Small Enterprises as at 31st March, 2014. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company.

6. In accordance with Accounting standard ''AS -18'' relating to Related Party Disclosures, information pertinent to related party transaction is given as under:-

Parties where control exists: Nil

Parties with whom transaction have taken place during the year.

A. Name of the related parties & description of relationship

a) Key Managerial Personnel and their enterprises :

Shri Bharat Shiroya (Managing Director)

Shri Anil Kumar Nevatia (Director)

Shri Sushil Kasturchand Jain (Director)

Shri Anil Agrawal (Director)

Anil Agrawal HUF

(HUF of Mr. Anil Agrawal, Director)

b) Relative of Key Managerial Personnel : Annu Agrawal

c) Associates :

Comfort Securities Limited

Comfort Intech Limited

Liquors India Limited

Lemonade Share & Securities Pvt. Ltd.

Luharuka Tradelink Pvt. Ltd.

7. Segment Reporting

In the opinion of the Management, the Company is operating in a single segment only as per the provisions of the accounting standard AS-17, issued by the Institute of Chartered Accountants Of India.

8. The Previous years figures have been regrouped / rearranged / reclassified wherever necessary. Amounts and other disclosures for the preceding financial year are included as an integral part of current year''s financial statements.


Mar 31, 2013

1. Contingent liability not provided is Rs. Nil (Previous Year amounting Rs. Nil)

2. Profit / loss from F&O and Non Delivery transactions are accounted on net of brokerage paid.

3. Balances of the Sundry Debtors, Loans and Advances and Sundry Creditors are subject to confirmation and resultant reconciliation, if any.

4. There are no dues to Micro and Small Enterprises as at 31st March, 2013. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company.

5. In accordance with Accounting standard ''AS -18'' relating to Related Party Disclosures, information pertinent to related party transac- tion is given as under:-

Parties where control exists: Nil

Parties with whom transaction have taken place during the year. A. Name of the related parties & description of relationship

a) Key Managerial Personnel : Shri Anil Kumar Nevatia (Director) and their enterprises Shri Bharat Shiroya (Managing Director)

Shri Anil Agrawal (Director)

Anil Agrawal –HUF

(HUF of Mr. Anil Agrawal, Director)

Shri Sushil Kasturchand Jain (Director)

b) Relative of Key Managerial Personnel : N.A.

c) Associates : Comfort Securities Limited

Comfort Intech Limited Comfort Capital Private Limited Comfort Commotrade Limited Lemonade Share & Securities Pvt. Ltd. Luharuka Tradelink Pvt. Ltd.

6. Segment Reporting

In the opinion of the Management, the Company is operating in a single segment only as per the provisions of the accounting standard AS-17, issued by the Institute of Chartered Accountants Of India.

7. The Previous years figures have been regrouped / rearranged / reclassified wherever necessary. Amounts and other disclosures for the preceding financial year are included as an integral part of current year''s financial statements.


Mar 31, 2012

(a) Detailed note on the terms of the rights, preferences and restrictions relating to each class of shares including restrictions on the distribution of dividends and repayment of capital.

i) The Company has only one class of Equity Shares having a par value of Rs. 10/- per share. Each holder of Equity Share is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees. During the year ended 31st March 2012, the Company has declared dividend @ 2%.

ii) On receipt of shareholders'' approval in EGM on 7th May, 2011 the Company has issued and alloted 28,15,000 Equity Shares of Rs.10/- each in the Board meeting held on 27th June, 2011.

iii) 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 number of Equity shares held by the shareholders.

Note 1 - Amounts due to Micro, Small and Medium Enterprises:

Under the Micro, Small and Medium Enterprises Development Act, 2006 certain disclosures are required to be made related to micro, small and medium enterprise. The company does not have any transactions with such entities. note 24 - Previous year figures

The figures of the previous year have been re-arranged, re-grouped and re- classified wherever necessary.

2. Contingent liability not provided for is Rs. Nil (Previous Year amounting Rs. Nil)

3. Profit / loss from F&O and Non Delivery transactions are accounted for on net of brokerage paid.

4. Balances of the Sundry Debtors, Loans and Advances and Sundry Creditors are subject to confirmation and resultant reconciliation, if any.

5. There are no dues to Micro and Small Enterprises as at 31st March, 2012. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the company.

6. Segment Reporting

In the opinion of the Management, the Company is operating in a single segment only as per the provisions of the accounting standard AS-17, issued by the Institute of Chartered Accountants Of India.

7. During the current financial year i.e. FY 2011-12, Company has issued 28,15,000 Equity Shares of face value of Rs. 10/- at an issue price of Rs. 18/- per Equity Share by way of Preferential Issue making total subscribed, issued and paid up equity share capital to Rs. 10,85,13,000/- divided into 1,08,51,300 equity shares of Rs. 10/- each.

8. The Previous years figures have been regrouped / rearranged / reclassified wherever necessary. Amounts and other disclosures for the preceding financial year are included as an integral part of current year''s financial statements.


Mar 31, 2011

1. During the year the Company has changed its name from "Parasnath Textiles Limited" to "Comfort Fincap Limited" and received the revised Certificate of Incorporation from ROC on 04th June, 2011.

2. Contingent liability not provided for is Rs. Nil (Previous Year amounting Rs. Nil)

3. Profit / loss from F&O and Non Delivery transactions are accounted for on net of brokerage paid.

4. Advances recoverable in cash or in kind or for value to be received in respect of which company is fully secured includes:-

a. Rs. 15,038, 219/- secured against Immovable Property.

5. Balances of the Sundry Debtors, Loans and Advances and Sundry Creditors are subject to confirmation and resultant reconciliation, if any.

6. There are no dues to Micro and Small Enterprises as at 31st March, 2011. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

7. In accordance with Accounting Standard ‘AS -18'' relating to Related Party Disclosures, information pertinent to related party transaction is given as under:-

8. In accordance with Accounting Standard AS -22 relating to "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the deferred tax liability is Rs. 1,003/- as on 31st March, 2011. (Previous Year Nil/-).

9. Segment Reporting

In the opinion of the Management, the Company is operating in a single segment only as per the provisions of the accounting standard AS-17, issued by the Institute of Chartered Accountants Of India.

10. During the current financial year i.e. FY 2010-11, Company has issued 73,00,000 Equity Shares of face value of Rs. 10/- at an issue price of Rs. 18/- per Equity Share by way of Preferential Issue making total subscribed, issued and paid up equity share capital to Rs. 80,363,000 /- divided into 80,36,300 equity shares of Rs. 10/- each.

11. The Previous years figures have been regrouped / rearranged / reclassified wherever necessary. Amounts and other disclosures for the preceding financial year are included as an integral part of current year''s financial statements.


Mar 31, 2010

1. There is no liability under the Payment of Gratuity Act for the year under review as such no provisions have been made.

2. In view of the virtual uncertainty regarding realisability of deferred tax assets against future taxable profits, the management has thought it prudent not to provide for the same.

3. Fixed assets are valued at Cost less depreciation till date where ever applicable as per the rates prescribed in Schedule XIV of the Companies Act, 1956 on prorata basis.

4. Investments are valued at cost.

5. Figures for the previous year have been re-grouped and/or re-arranged where ever necessary.