Mar 31, 2015
A. TERMS/ RIGHTS ATTACHED TO EQUITY SHARES
The Company has only one class of equity share having par value of
Rs.10/- per share. Each holder of Equity share is entitled to one vote
per share.
In the event of liquidation of the company, the holder 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 share held by the shareholders.
As per the records of the Company, including its Register of Members
and other declarations received from the shareholders regarding
beneficial interest, the above shareholders represents legal ownership
of shares
B. SHARES ISSUED FOR CONSIDERATION OTHER THAN CASH
Out of the above 74800000 (P.Y. 74800000) Equity Shares have been
issued for consideration other than cash.
Based on the information / documents available with the Company, no
creditor is covered under Micro, Small and Medium Enterprise
Development Act, 2006. As a result, no interest provision / payments
have been made by the Company to such creditors, if any, and no
disclosures thereof are made in these accounts.
ii Loans & advances balances are subject to confirmation by the
respective parties.
The management has assessed that there is no impairment of Fixed Assets
requiring
iii provision in the Accounts. Accordingly, there is no debit to the
Statement of Profit & Loss for the impairment of Assets.
iv Deferred Taxation :
Company has carry forward losses under Income Tax Laws but in the
absence of virtual certainty of sufficient future taxable income, in
the opinion of management, deferred tax assets has not been recognized
by way of prudence in accordance with AS-22 " Accounting For Taxes On
Income " issued by the Institute of Chartered Accountants of India.
However, the company will recognize the deferred tax liabilities/assets
on the timing differences for the period in which there is virtual
certainty of future income.
v Segment Report :
The Company is engaged in the business of Non-Banking Financial
Services and there are no separate reportable segments as per
Accounting Standard 17.
vi Related Party Disclosure :
As per accounting standard 18 the information for related parties is
given below:
Name of the related parties
vii The Company has Complied this information based on the current
information in its possession. As at 31.03.2015, No supplier has
intimated the Company about its status as a Micro or Small enterprise
or its Registration with the appropriate authority under Micro, Small
and Medium Enterprise Development Act, 2006. Amount due to Micro Small
and Medium Entries as on 31.03.2015 Rs. NIL ( P.Y. Rs. NIL )
viii The Financial Statements and Notes on Accounts has been prepared
as per the Companies Act, 2013 with their Schedule as the same is
effective from 1st April, 2014.
ix Effective from 1st April, 2014, the Company has charged depreciation
based on the useful life of the assets as per the requirement of
Schedule II of the Companies Act, 2013. It has recomputed the
depreciation on various fixed assets in accordance with and in the
manner prescribed with Part C of Schedule II of the Companies Act,
2013. The aggregate difference between the depreciation so computed as
per the companies Act, 2013 till 31st March, 2014 and the depreciation
charged in the accounts till 31st March, 2014 has been debited to the
opening balance of profit & Loss Account.
Deferred Tax assets arising there on has been debited to or credited to
against the opening balance of Profit & Loss Account.
X The company has made 100% provision in respect of certain Loans &
Advances which is considered as loss asset by the management.
xi No provisions has been made for fall, if any, in the market value of
quoted securities or break- up value of unquoted securities, held as
Investments, diminution where, if any, is not permanent in nature.
xii The management has assessed that there is no impairment of Fixed
assets requiring provisions in the accounts. Accordingly, there is no
debit to the Profit & Loss Account for the impairment of assets.
xiii No provision has been made on account of leave salary as there are
no leave to the credit of employees as at the end of the year.
xiv No provision has been made on account of gratuity as there are no
employees who have completed the required number of years as per the
Payment of Gratuity Act, 1972.
xv Previous Year figures have been regrouped, rearranged or recasted
wherever considered necessary.
xvi Particulars required to be furnished by the NBFCs as per paragraph
13 of Non- Banking Financial (Non-Deposit Accepting or Holding)
Companies Prudential Norms (Reserve Bank) Directions, 2007 issued by
the RBI are given as per Annexure attached hereto.
Notes :-
1. As defined in paragraph 2 (1) (xii) of the Non - Banking Financial
Companies Acceptance of Public Deposit (Reserve Bank) Directions, 1998
2. Provisioning norms shall be applicable as prescribed in Non-Banking
Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms
(Reserve Bank) Directions, 2007.
3. All Accounting Standards and Guidance Notes issued by ICAI are
applicable including for valuation of Investments and other assets as
also assets acquired in satisfaction of debt. However, Market value in
respect of quoted Investment and break-up/fair value/NAV in respect on
unquoted investments should be disclosed irrespective of whether they
are classified as long term or current in (4) above.
fi1l Please read the instructions given below very carefully. If the
form is not filed as per instructions, the same will be rejected.
4. The nomination can be made by individuals only. Non individuals
including society, trust, body corporate, partnership firm, Karta of
Hindu Undivided Family, holder of power of attorney cannot nominate.
5. If the Shares are held jointly all joint holders shall sign (as per
the specimen registered with the Company) the nomination form.
6. A nomination must be witnessed by two witnesses. A nomination form
not witnessed by two witnesses will be rejected.
7. A minor can be nominated and in that case the name and address of the
Guardian shall be given by the holder.
8. The nominee shall not be a trust, society, body corporate,
partnership firm, Karta of Hindu Undivided Family, or a power of
attorney holder. A non-resident Indian can be a nominee on reparable
basis.
9. Transfer of Shares in favor of a nominee shall be a valid discharge
by the Company against the legal heir(s).
10. Only one person can be nominated for a given folio.
11. Details of all holders in a folio need to be filed; else the
nomination will be rejected.
12. The nomination will be registered only when it is complete in all
respects including the signature of (a) all registered holders (as per
specimen lodged with the Company) and (b) the nominee/guardian.
13. Whenever the Shares in the given folio are entirely transferred or
dematerialised, then this nomination will stand rescinded.
14. The intimation regarding nomination / nomination form shall be
filled in duplicate with the Registrars & Transfer Agents of the
Company who will return one copy thereof to the Shareholders.
15. Upon receipt of a duly executed nomination form, the Registrars &
Transfer Agent of the Company will register the form and allot a
registration number. The registration number and folio no. should be
quoted by the nominee in all future correspondence.
16. The Company will not entertain any claims other than those of a
registered nominee.
17. The nomination can be varied or cancelled by executing fresh
nomination form.
18. For shares held in dematerialized form nomination is required to be
filled with the Depository Participant.
Mar 31, 2014
1 Based on the information / documents available with the Company, no
creditor is covered under Micro, Small and Medium Enterprise
Development Act, 2006. As a result, no interest provision/payments have
been made by the Company to such creditors, if any, and no disclosures
thereof are made in these accounts.
2 Loans, advances and sundry creditors balances are subject to
confirmation by the respective parties
3 The management has assessed that there is no impairment of Fixed
Assets requiring
provision in the Accounts. Accordingly, there is no debit to the
Statement of Profit & Loss for the impairment of Assets.
4 Deferred Taxation :
No Provision has been made for Deferred Tax Assets in respect of
unaborbed long term capital loss in view of uncertainity that the said
asset will be realised in the future.
5 Segment Report :
The Company is engaged in the business of Non-Banking Financial
Services and
there are no separate reportable segments as per Accounting Standard
17.
6 Related Party Disclosure :
As per accounting statndard 18 the information for related parties is
given below:
Name of the related parties
ASSOCIATES
SUBSIDIARIES:-
1. Avit Exim Limited
2. Coolhut Traders Limited
3. Fabert Merchandise Limited
4. Footflash Trading Limited
5. Gabarial Enclave Limited
6. Gritty Marketing Limited
7. Jatashiv Developers Limited
8. Pawanshiv Niketan Limited
KEY MANAGEMENT PERSONNEL ( KMP )
1. Basant Kumar Sharma RELATIVES OF ( K M P )
7 The Company has Complied this information based on the current
information in its possession. As at 31.03.2014, No supplier has
intimated the Company about its status as a Micro or Small enterprise
or its Registration with the appropriate authority under Micro, Small
and Medium Enterprise Development Act, 2006. Amount due to Micro Small
and Medium Enterprises as on 31.03.2014 RS. NIL ( PY RS NIL )
8 No provision has been made on account of leave salary as there are no
leave to the credit of employees as at the end of the year.
9 No provision has been made on account of gratuity as there are no
employees who have completed the required number of years as per the
Payment of Gratuity Act, 1972.
10 Previous Year figures have been regrouped, rearranged or recasted
wherever considered necessary.
11 Particulars required to be furnished by the NBFCs as per paragraph
13 of Non- Banking Financial (Non-Deposit Accepting or Holding)
Companies Prudential Norms (Reserve Bank) Directions, 2007 issued by
the RBI are given as per Annexure-B attached hereto.
Note :
1 The above cash flow statement has been prepared under the indirect
Method as set out in the Accounting Standard - 3 on Cash Flow
Statements
Mar 31, 2013
1 Based on the information / documents available with the Company, no
creditor is covered under Micro, Small and Medium Enterprise
Development Act, 2006. As a result, no interest provision/payments have
been made by the Company to such creditors, if any, and no disclosures
thereof are made in these accounts.
2 Loans, advances and sundry debtors and sundry creditors balances are
subject to confirmation by the respective parties
3 The management has assessed that there is no impairment of Fixed
Assets requiring provision in the Accounts. Accordingly, there is no
debit to the Statement of Profit & Loss for the impairment of Assets.
4 Deferred Taxation :
No Provision has been made for Deferred Tax Assets in respect of
unaborbed long term capital loss in view of uncertainty that the said
asset will be realised in the future.
5 Segment Report :
The Company is engaged in the business of Non-Banking Financial
Services and there are no separate reportable segments as per
Accounting Standard 17.
6 Related Party Disclosure :
As per accounting statndard 18 the information for related parties is
given below:
Name of the related parties
ASSOCIATES
SUBSIDIARIES:-
1. Avit Exim Limited
2. Coolhut Traders Limited
3. Fabert Merchandise Limited
4. Footflash Trading Limited
5. Gabarial Enclave Limited
6. Gritty Marketing Limited
7. Jatashiv Developers Limited
8. Pawanshiv Niketan Limited
KEY MANAGEMENT PERSONNEL ( KMP )
1. Basant Kumar Sharma RELATIVES OF ( K M P )
RELATED PARTY TRANSACTION
7 The Company has Complied this information based on the current
information in its possession. As at 31.03.2013, No supplier has
intimated the Company about its status as a Micro or Small enterprise
or its Registration with the appropriate authority under Amount due to
Micro Small and Medium Enterises as on 31.03.2013 '' NIL ( PY '' NIL )
8 No provision has been made on account of leave salary as there are no
leave to the credit of employees as at the end of the year.
11 Previous Year figures have been regrouped, rearranged or recasted
wherever considered necessary.
12 Particulars required to be furnished by the NBFCs as per paragraph
13 of Non-Banking Financial (Non- Deposit Accepting or Holding)
Companies Prudential Norms (Reserve Bank) Directions, 2007 issued by
the RBI are given as per Annexure-B attached hereto.
TERMS/ RIGHTS ATTACHED TO EQUITY SHARES
The Company has only one class of equity share having par value of ''10
/- per share . Each holder of Equity share is entitled to one vote per
share
In the event of liquidation of the company, the holder 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 share held by the shareholders
As per the records of the Company , including its Register of Members
and other declarations received from the shareholders regarding
beneficial interest , the above shareholders represents legal ownership
of shares
SHARES ISSUED FOR CONSIDERATION OTHER THAN CASH
Out of the above 74800000 (P.Y. 74800000) Equity Shares have been
issued for consideration other than cash
Mar 31, 2012
1 Based on the information / documents available with the Company, no
creditor is covered under Micro, Small and Medium Enterprise
Development Act, 2006. As a result, no interest provision/payments have
been made by the Company to such creditors, if any, and no disclosures
thereof are made in these accounts.
2 Loans, advances and sundry debtors and sundry creditors balances are
subject to confirmation by the respective parties
3 The management has assessed that there is no impairment of Fixed
Assets requiring provision in the Accounts. Accordingly, there is no
debit to the Profit & Loss Account for the impairment of Assets.
4 Deferred Taxation :
The Principal components of Deferred Tax Liabilities/(Assets) are :
No Provision has been made for Deferred Tax Assets in respect of
assessed unabsorbed speculation losses and unaborbed long term capital
loss in view on uncertainity that the said asset will be realised in
the future.
5 Segment Report :
The Company is engaged in the business of Non-Banking Financial
Services and there are no separate reportable segments as per
Accounting Standard 17.
6 Related Party Disclosure :
As per accounting statndard 18 the information for related parties is
given below:
Name of the related parties
ASSOCIATES
SUBSIDIARIES:-
1. Avit Exim Limited
2. Coolhut Traders Limited
3. Fabert Merchandise Limited
4. Footflash Trading Limited
5. Gabarial Enclave Limited
6. Gritty Marketing Limited
7. Jatashiv Developers Limited
8. Pawanshiv Niketan Limited
KEY MANAGEMENT PEROSNNEL ( KMP )
1. Basant Kumar Sharma
RELATIVES OF ( K M P )
7 The Company has Complied this information based on the current
information in its possession. As at 31.03.2012, No supplier has
intimated the Company about its status as a Micro or Small enterprise
or its Registration with the appropriate authority under
Amount due to Micro Small and Medium Enterises as on 31.03.2012
Rs. NIL (PY Rs. NIL )
8 No provision has been made on account of leave salary as there are no
leave to the credit of employees as at the end of the year.
9 During the year the following companies have become Wholly Owned
Subsidiaries of the company:
Name of the Company Date of becoming WOS
1. Avit Exim Limited 02.01.2012
2. Coolhut Traders Limited 02.01.2012
3. Fabert Merchandise Limited 02.01.2012
4. Footflash Trading Limited 02.01.2012
5. Gabarial Enclave Limited 02.01.2012
6. Gritty Marketing Limited 05.01.2012
7. Jatashiv Developers Limited 29.03.2012
8. Pawanshiv Niketan Limited 30.03.2012
10 Provisioning as per AS 29 Amount
TAXATION
Opening 69,949
Add: Additions 80,637
Less: Adjustments (64,111)
Closing 86,475
11 Previous Year figures have been regrouped, rearranged or recasted
wherever considered necessary.
12 Particulars required to be furnished by the NBFCs as per paragraph
13 of Non-Banking Financial (Non-Deposit Accepting or Holding)
Companies Prudential Norms (Reserve Bank) Directions, 2007 issued by
the RBI are given as per Annexure-B attached hereto.
13 Till 31s1 March, 2011 the Company was using pre revised Schedule VI
to the Companies Act 1956, for preparation and presentation of its
financial statements. During the year ended 31St March, 2012 the
Revised Schedule VI notified under the Companies Act, 1956
TERMS/ RIGHTS ATTACHED TO EQUITY SHARES
The Company has only one class of equity share having par value of
Rs.10/ per share. Each holder of Equity share is entitled to one vote per
share
In the event of liquidation of the ompany , the holder 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 share held by the shareholders
As per the records of the Company , including its Register of Members
and other declarations received from the shareholders regarding
beneficial interest , the above shareholders represents legal ownership
of shares
SHARES ISSUED FOR CONSIDERATION OTHER THAN CASH
Out of the above 74800000 (P.Y. 74800000) Equity Shares have been
issued for consideration other than cash
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