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Notes to Accounts of Proaim Enterprises Ltd.

Mar 31, 2014

1. Employee benefits

Provision for retirement benefits to employees was not provided on accrual basis, which is not in conformity with Accounting Standard-15 issued by ICAI and the amount has not been quantified because actuarial valuation report is not available. However, in the opinion of the management the amount involved is negligible and has no material impact on the Profit & Loss Account.

2. CONTINGENT LIABILITY:

2013-2014 2012-2013 Amount in Rs. Amount in Rs.

Contingent Liabilities not provided for NIL NIL

Others NIL NIL

3. RELATED PARTY TRANSACTION:

List of Related Parties:-

a) Key Management personnel :-

i) Giriraj Kishor Agrawal ii) Tanu Agrawal

b) Related parties over which Key Management personnel have significant influence :-

i) Axon Finance Ltd (Formerly Axon Infotech Ltd)

ii) Banas Finance Limited

iii) Rockon Fintech Limited

iv) Rockon Capital Market Pvt Ltd

v) Tilak Finance Limited (Formerly Out of City Travel Solutions Ltd)

vi) Five X finance & Investment Ltd

vii) Kayaguru Health Solutions Limited

viii) Kayaguru Capital Market Pvt Ltd

ix) Handful Investrade Pvt Ltd

x) Girraj Kishore Agarwal HUF

xi) Saloni Agarwal

4. Income in Foreign Currency : NIL

5. Expenditure in Foreign Currency : NIL

6 As per information available with the Company, none of the creditors has confirmed that they are registered under the Micro, Small and Medium enterprises Development Act, 2006.

7. Trade Receivable, Trade Payable, Short Term Borrowings and Short Term Loans and Advances balances are subject to confirmation and reconciliation.

8. Segment Information: The Company is engaged in single segment and there are no separate reportable segments as defined in AS-17.

9. Previous year''s figures have been regrouped, rearranged and reclassified wherever necessary to conform to the current''s classification/ presentation.


Mar 31, 2013

1. CONTINGENT LIABILITY:



2012-2013 2011-2012

Amount in Rs. Amount in Rs.

Contingent Liabilities not provided for NIL NIL

Other NIL NIL

2. EARNING PER SHARE:

Earnings per Share, as required by the Accounting Standard 20- "Earning Per Share" issued by the Institute of Chartered Accountants of India, is given below:

3. RELATED PARTY TRANSACTION:

List of Related Parties:-

a) Key Management person

i) Girraj Kishor Agrawal

ii) Tanu Agarwal

b) Related Parties over which Key Management Personnel have Significant Influence:-

i) Axon Infotech Ltd.

ii) Banas Finance ltd.

iii) Five X Finance & Investment Limited

iv) Rockon Fintech Limited

v) Out of City Travel Solutions Ltd

vi) Kayaguru Health Solutions Limited]

vii) Handful Investrade Pvt Ltd

viii) Girraj Kishor Agrawal HUF

ix) Saloni Agrawal

4. Income in Foreign Currency NIL

5. Expenditure in Foreign Currency NIL

6. As per information available with the Company, none of the creditors has confirmed that they are registered under the Micro, Small and Medium enterprises Development Act, 2006.

7. Provision for retirement benefits to employees was not provided on accrual basis, which is not in conformity with Accounting Standard-15 issued by ICAI and the amount has not been quantified because actuarial valuation report is not available. However, in the opinion of the management the amount involved is negligible and has no material impact on the Profit & Loss Account.

8. Trade payable and Short Term loan and advances balances are subject to confirmation and reconciliation.

9. Segment Information: The Company is engaged in single segment and there are no separate reportable segments as defined in AS-17.

10. Previous year''s figures have been regrouped, rearranged and reclassified wherever necessary to conform to the current''s classification/ presentation.


Mar 31, 2012

A. Terms/rights attached to equity shares

The Company has only one class of Equity Shares having par value of Rs. 1 Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors are subject to the approval of the shareholders in the ensuing Annual General Meeting.

In the event ofl liquidation of the Company' the holder of equity shares will being entitled to receive any of the remaining assets of the company' after distribution of all preferential amount. The distribution will be in proportion to the number of equity shares held by the shareholders.

1. CONTINGENT LIABILITY: 2011-2012 2010-2011 Amount in Rs. Amount in

Contingent Liabilities not provided for NIL NIL

2. Income in Foreign Currency NIL

3. Expenditure in Foreign Currency NIL

4. As per information available with the Company' none of the creditors has confirmed that they are registered under the Micro' Small and Medium enterprises Development Act' 2006.

5. Debtors' Ci editors' loan and advances balances are subject to confirmation and reconciliation.

6. Segment Information: The Company is engaged in single segment and there are no separate reportable segments as defined in AS-17.

7. Previous year's figures have been regrouped' rearranged and reclassified wherever necessary to conform to the current's classification/ presentation.


Mar 31, 2011

1. Contingent Liabilities not provided for :

2010-2011 2009-10

(Rs.) (Rs.)

Claims against the company not acknowledged as debts NIL NIL

Others NIL NIL

2. Balances of Debtors, Loans and Advances, Secured Loans, Sundry Creditors & Others are subject to confirmation and reconciliation and consequential adjustments, if any.

3. In the opinion of the Board & to the best of their knowledge & belief the value of realizations of current assets, loans & advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet & the provisions for all the loans & determined liabilities is adequate and not in excess of the amount.

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

5. According to a technical assessment carried out by the Company, there is no impairment in the carrying cost of cash generating units of the Company in terms of accounting standards-28 issued by the Institute of Chartered Accountants of India.

6. Related Party Transaction :

Key Management Persons

Girraj Kishore Agrawal Tanu Agrawal

Transaction with Related Parties:- Nil

7. Balance Sheet Abstract & Company's general business profiles as required by part IV of Schedule VI to the Companies Act, 1956 is enclosed in ANNEXURE "B".

8. Segment Information: The Company is engaged in single segment and there are no separate reportable segments as defined in AS-17.

9. Previous year's figures have been regrouped, rearranged and reclassified wherever necessary to conform to the current's classification/ presentation.


Mar 31, 2010

1. Contingent Liabilities not provided for :

2009-2010 2008-2009

Claims against the company not NIL NIL acknowledged as debts

Others NIL NIL

2. Balances of Debtors, Loans and Advances, Secured Loans, Sundry Creditors & Others are subject to confirmation and reconciliation and consequential adjustments, if any.

3. In the opinion of the Board & to the best of their knowledge & belief the value of realisation of current assets, loans & advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet & the provisions for all the loans & determined liabilities is adequate and not in excess of the amount.

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

5. According to a technical assessment carried out by the Company, there is no impairment in the carrying cost of cash generating units of the Company in terms of accounting standards-28 issued by the Institute of Chartered Accountants of India.

6. Balance Sheet Abstract & Companys general business profiles as required by part IV of Schedule VI to the Companies Act, 1956 is enclosed in ANNEXURE "B".

7. Segment Information : As there is no business except the main field of the company where segmental reporting is required.

8. Previous years figures have been regrouped, rearranged and reclassified wherever necessary to conform to the currents classification/ presentation.


Mar 31, 2002

1. Remuneration to Directors Rs. Nil (Previous year Rs. NIL)

2. The computation of Net Profit for the purpose of calculation of directors remuneration under section 349 of the Companies Act 1956 is not enumerated since no commission has been paid to the Directors.

3. Payment to auditors

Current Year Previous Year

For Audit Fees 5000/- 10000/-

4. Information pursuant to paragraphs 4C & 4D (C) of Part II of schedule VI to the Companies Act, 1956 are not applicable to the Company, as it is not doing any manufacturing activity.

5. The Company has no earning or expenditure in foreign exchange

6. Balances of Creditors and loans & advances are subject to confirmation and reconciliation.

7. Previous years figures have been regrouped or rearranged wherever necessary to make them comparable with current year figures.

8. Amount due from directors NIL (Previous Year NIL)

9. Amount due from companies in which directors are interested - Nil (Previous Year Nil)

10. Amount due to companies in which directors are interested - Nil (Previous Year Nil)

11.In the opinion of the Board, the Current Assets, Loans and Advances are approximately of the value stated, if realized in the ordinary course of business. The provision of all known liabilities is adequate and not in excess of the amounts reasonably necessary.

12. No provision has been made for gratuity, as it will be accounted for as and when the liability to pay arises.

13. In our opinion there are no contingent liabilities

14. The information required under section 217 (2A) (b) (ii) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rule, 1975 is not given as there was no employee in receipt of salary exceeding the limit specified in the section.

15. As per the information available with the company, there are no amounts payable to any | Small Scale Undertaking.

16. Balances of Loans and Advances include interest accrued on such loans wherever applicable.

17. Additional Information pursuant to Part IV of Schedule VI to the Companies Act, 1956 is given in Annexure A

 
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