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Notes to Accounts of Wagend Infra Venture Ltd.

Mar 31, 2015

1. Other Accounting Policies:

These are consistent with the generally accepted accounting practices. The Schedule III has become effective from 1st April, 2014 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

2. Quantitative details - N.A.


Mar 31, 2014

1. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

2. Micro, small & Medium Enterprises

There was no amount due as on 31st March, 2014 as reported to us from/to Micro, small & Medium Enterprises as per MSMED Act, 2006.

3. Cash & Cash Equivalent:

Cash and cash equivalent includes cash on hand, and deposits maintained with banks which can be withdrawn by the company at any point of time.

4. Segment Reporting:

As the company operates in only one business and operates only in one geographical segment i.e. domestic, the disclosure requirements under Accounting Standard 17-"Segment Reporting" is not required.

5. Related Parties Disclosures

There are following transaction as reported with any key management persons and with any of the Enterprises owned and controlled by Key management persons.

6. As per management''s view none of the current employees shall complete their term of service of five years, hence actuarial valuation of gratuity is not done.

7. There are no outstanding dues of micro and small enterprises suppliers as defined under the Micro, Small and Medium Enterprises Development Act, 2006.

8. Previous year''s figures have been regrouped / reclassified / rearranged / recast wherever necessary to match with current year''s presentation.

9. Quantitative details - N.A.

10. (i) Terms and Rights attached to equity shares:

* The company has only one class of equity shares having a par value of Rs. 2 each. Each holder of equity shares is entitled to one vote per share.

* In the event of liquidation, the euity shareholders are eligible to receive the remaining assets of the company after distribution of all preferential amount, in proportion to the shareholding. However, no such preferential amount exist currently

(ii) There are no Share Warrant pending for conversion as on 31.03.2014

(In the P.Y. 4,105,000 warrants were converted into 4,105,000 shares of Rs.2/- each at premium of Rs. 0.40/- each.)


Mar 31, 2013

1. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

2. There was no amount due as on 31st March, 2013 as reported to us from/to Micro, small & Medium Enterprises as per MSMED Act, 2006.

3. Segment Reporting:

As the company operates in only one business and operates only in one geographical segment i.e. domestic, the disclosure requirements under Accounting Standard 17-"Segment Reporting" is not required.

4. As per management''s view none of the current employees shall complete their term of service of five years, hence actuarial valuation of gratuity is not done.

5. There are no outstanding dues of micro and small enterprises suppliers as defined under the Micro, Small and Medium Enterprises Development Act, 2006.

6. Previous year''s figures have been regrouped / reclassified / rearranged / recast wherever necessary to match with current year''s presentation.

7. Quantitative details - N.A.


Mar 31, 2012

1. The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

2. There was no amount due as on March 31, 2012 as reported to us from/to Micro, small & Medium Enterprises as per MSMED Act, 2006.

3. Leases:

4. Segment Reporting:

As the company operates in only one business and operates only in one geographical segment i.e. domestic, the disclosure requirements under Accounting Standard 17-"Segment Reporting" is not required.

5. Related Parties Disclosures

There are following transaction as reported with any key management persons and with any of the Enterprises owned and controlled by Key management persons.

6. As per management's view none of the current employees shall complete their term of service of five years, hence actuarial valuation of gratuity is not done.

7. There are no outstanding dues of micro and small enterprises suppliers as defined under the Micro, Small and Medium Enterprises Development Act, 2006.

8. Previous year's figures have been regrouped / reclassified / rearranged / recast wherever necessary to match with current year's presentation.

9. Quantitative details - N.A.


Mar 31, 2011

1. Previous years figures have been re-grouped and re-arranged wherever considered necessary.

2. There was no amount due as on March 31, 2011 as reported to us from/to Micro, small & Medium Enterprises as per MSMED Act, 2006

3. Deferred Tax :

Components of deferred tax liabilities is provided by applying the applicable rate of tax to the taxable income of the year. As per Accounting Standard 22 on Taxes on Income-the company has a deferred tax liability of Rs. NIL (Previous year Rs. 19,843.00)

4. Segment Reporting

As the company operates in only one business and operates only in one geographical segment i.e. domestic, the disclosure requirements under Accounting Standard 17-"Segment Reporting" is not required.

5. Related Parties disclosures

There are following transaction as reported with any key management persons and with any of the Enterprises owned and controlled by Key management persons.

Nature of Relationship Name

i) Key Management Person Mr. Pratik Jain

Mr. Sanjay Minda

6. As per managements view none of the current employees shall complete their term of service of five years, hence actuarial valuation of gratuity is not done.

7. There is no outstanding dues of micro and small enterprises suppliers as defined under The Micro, Small and Medium Enterprises Development Act, 2006.

8. Previous years figures have been regrouped / reclassified / rearranged / recast wherever necessary to match with current years presentation.

9. Quantitative details - N.A.


Mar 31, 2010

1. Previous years figures have been re-grouped and re-arranged wherever considered necessary.

2. There was no amount due as on March 31, 2010 ,as reported to us from/ to Micro, Small & Medium Enterprises as per MSMED Act, 2006.

3. Components of Deferred Tax

Income Tax liability is provided by applying the applicable rate of tax to the taxable income of the year. As per Accounting Standard 22 on Taxes on Income - the company has a deferred tax Liability of Rs. 19,843/-(previous year Rs. 31,394/-of Deferred Tax Assets).

4 Segment Reporting

As the company operates in only one business and operates only in one geographical segment i.e. domestic, the disclosure requirements under Accounting Standard 17 - "Segment Reporting" is v not required. .

5 Related parties disclosures

There are no transaction as reported with any key management persons and with any of the Enterprises owned and controlled by Key management persons.

Related Party Details:

Nature of Relationship Name

i) Key Management Person Mrs. Bhavna Hariprasad Lahoti

Mr. Narendra Harlalka

Mrs. Geeta Chotalal Kabra

ii) Associates Ambitious Holdings Pvt. Ltd.

Triveni Exports (P) Ltd.

6 In view of the companys business, generally there is no specific physical measure or standard classification for its products / services. Consequently, Additional information pursuant to part II of Schedule VI of the companies Act, 1956 are either Nil or not applicable.

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