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Notes to Accounts of Empower India Ltd.

Mar 31, 2014

1.1 Contingent Liabilities & Comments:

a) Guarantee Given by the Company''s banker as at March 31, 2014 is Rs.NIL (previous year : Rs. NIL )

1.2 Related Party Transaction a) Key Managerial Person:-

Mangesh Gurav - Director

Kiran Thakore - Director

Kiran Jethalal Soni - Director

Nikhil Pednekar - Director

Ninad Deshmukh - Director

Rajgopalan Iyenger - Director

Rajesh Lavekar - Director

Vinod Shinde - Director

Prakash Naik - Director

Mar 31, 2012

* 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 2012 as Micro, Small or Medium Enterprises. Consequently the amount paid / payable to these parties during the year is NIL.

(a) * The provision of all known liabilities is adequate and not in excess of the amount reasonably necessary.

(b) Current liabilities do not include any amount to be credited to investor education and protection fund.

1.1: Contingent Liabilities & Comments

a ) Guarantee Given by the Company''s Banker as at March 31, 2012 is Rs.NIL ( previous year : Rs. NIL )

1.2 : Quantitative Particulars a ) Capacities : -

License Capacity -- Not Applicable

Install Capacity -- Not Applicable

1.3 Related Party Transaction

a) Key Managerial Person

Devang Master - Director

Mangesh Gurav- Director

Suhas Ganpule- Director

1.4 The previous year figures have been regrouped, rearranged wherever necessary.

Mar 31, 2009

1) The various balances (Debit and Credit) appearing in the Balance sheet are unconfirmed and are stated as certified by the Management and as recorded in the Books. This includes balances of few banks.

2) Sundry Debtors, Creditors, Loans & Advances are stated at the ordinary course of business. In case of irrecoverable, un-reconciled, inter party transfer, debit note, credit note of sundry debtors, creditors, loans & advances, are stated as per managements judgments/decision, final settlement of accounts with the parties are subject to confirmation.

3) As per information and explanation given by the Management, Advances given to various parties are in nature of interest free advances, hence no interest has been provided during the year. We are further informed that during the year no loans and advance have been given to any director/s, relatives and under the same management concerns directly or indirectly.

4) Expenditure in respect of which third party evidences were not produced for our verification, are verified from vouchers prepared and certified by the management and as recorded in the books.

5) The company has not raised any money by public issue during the year. During the year, the Company raised US$2002160.58 by issuing 493143 Global Depository Receipts (GDR) 1 GDR=10 Equity Shares ) by allotting 4931430 Nos equity shares each of Re.l/- at a premium of Rs. 16.50/- per equity share. Hence paid up share capital has increased by Rs.4931430/- and share premium account by Rs.81368595/- A sum of USD$2002160.58 is lying in FD Account with, European American Investment Bank AG Vienna ( Austria ). The same has been accounted at prevailing currency rate.

6) GDR issue expenses has been written off over a period of five years.

7) Details of Opening & closing stocks of goods along with Purchases & sales of goods traded in by the Company.

8) Remuneration Paid to the Directors is Rs. 762038/- (Previous Year -Rs. 708600/-)

9) The Company did not have any transactions with small scale industrial (SSI) undertaking during the year ended march 31s, 2009 and hence there are no amount due to such undertaking the identification of SSI undertaking is based on the managements knowledge of their status.

The Company has not received any information from the suppliers regarding their status under the Micro, Small and Medium Enterprises development Act 2006 and hence disclosures if any, relating to amount unpaid as at the year end together with interest paid/payable as required under the said Act have not been furnished.

10) Previous year figures are rearranged and regrouped wherever necessary.

Oct 21, 12:00 am
Oct 21, 4:14 pm
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