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Notes to Accounts of Innovassynth Investments Ltd.

Mar 31, 2015

1. Rights of Shareholders

The company has equity shares having a par value of Rs. 10. Each Shareholder is entitled for one vote per share. The shareholders have the right to receive interim dividends declared by the Board of Directors and final dividend proposed by the Board of directors and approved by the shareholders.

In the event of liquidation by the company, the shareholders will be entitled in proportion to the number of equity shares held by them to receive remaining assets of the company, after distribution to those it was secured.

The shareholders have all other rights as available to equity shareholders as per the provisions of the Companies Act, 2013, read together with the Memorandum of Association and Articles of Association of the Company, as applicable.

2. General instruction for preparation of Balance sheet and Statement of Profit and Loss as per revised schedule III are given to the extent they are applicable to the Company.

3. The Company operates only in one segment viz, investment. Hence the segment reporting as required by AS-17, issued by ICAI/Company (Accounts ) Rules 2014 is not applicable.

4. Figures of Previous Year have been regrouped wherever necessary.


Mar 31, 2014

Note 1: (c) Rights of Shareholders

In the event of liquidation by the company, the shareholders will be entitled in proportion to the number of equity shares held by them to receive remaining assets of the company, after distribution to those it was secured.

The shareholders have all other rights as available to equity shareholders as per the provisions of the Companies Act, 1956, read together with the Memorandum of Association and Articles of Association of the Company, as applicable.

Note 2 : General instruction for preparation of Balance sheet and Statement of Profit and Loss as per revised schedule VI are given to the extent they are applicable to the Company.

Note 3 : Figures of Previous Year have been regrouped wherever necessary.


Mar 31, 2013

1(a) Rights of Shareholders :

The company has equity shares having a par value of Rs. 10/-. Each Shareholder is entitled for one vote per share. The shareholders have the right to receive interim dividends declared by the Baord of Directors and final dividend proposed by the Board of Directors and approved by the shareholders.

In the event of liquidation by the company, the shareholders will be entitled in proportion to the number of equity shares held by them to receive remaining assets of the company, after distribution to those it was secured.

The shareholders have all other rights as available to equity shareholders as per the provisions of the Companies Act, 1956, read together with the Memorandum of Association and Articles of Association of the Company, as applicable.


Mar 31, 2012

1(a) Rights of Shareholders :

The company has equity shares having a par value of Rs. 10/-. Each Shareholder is entitled for one vote per share. The shareholders have the right to receive interim dividends declared by the Baord of Directors ' and final dividend proposed by the Board of Directors and approved by the shareholders.

In the event of liquidation by the company, the shareholders will be entitled in proportion to the number of equity shares held by them to receive remaining assets of the company, after distribution to those it was secured.

The shareholders have all other rights as available to equity shareholders as per the provisions of the Companies Act, 1956, read together with the Memorandum of Associatin and Articles of Association of the Company, as applicable.

2. Out of the proceeds of issue of equity shares on preferential basis of Rs.40,00,000, Rs. 36,04,700 has been utilised towards objects of the issue and pending utilisation the balance amount is available as Cash and Bank balance.

3. General instruction for preparation of Balance Sheet and Profit and Loss Statement as per revised Schedule VI are given to the extent they are applicable to the Company.

4. Figures of Previous Year have been regrouped wherever necessary.


Mar 31, 2010

1. The Company has applied for registration as a Non Banking Finance Company (NBFC) with Reserve Bank of India.

2. Other Provision of Paragraph 4(C) of part II of Schedule VI of the Companies Act, 1956 are not applicable.

3. List of Related Parties and Key Management Personnel (As Certified by Management)

1. Innovassynth Technologies (India) Ltd. (IIL) : Mr. S. B. Ghia and Mr. Shyam S. Sami are Common Directors.

IIL holds 32.22% of paid-up capital of ITIL.

2. Futura Polyesters Ltd. : Mr. S. B. Ghia and Mr. Shyam S. Sami are Common Directors.

Mr. S. B. Ghia Common Managing Director,

Key Management Personnel.

4. Figures in bracket pertain to Previous Year.

5. Figures of the Previous Year have been regrouped wherever necessary.

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