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Notes to Accounts of Five X Tradecom Ltd.
Mar 31, 2014
1. a. Terms/rights attached to equity shares
The Company has only one class of Equity Shares having par value of Rs.
10. 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 is subject to the approval of the
shareholders in the ensuing Annual General Meeting.
In the event of 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.
2. 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.
3. Contingent Liability:
Amount in Rs. Amount in Rs.
Contingent Liabilities not provided for NIL NIL
Others NIL NIL
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
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