Mar 31, 2015
1 General Information
NEWEVER TRADE WINGS LTD (" the Company ") was incorporated as private limited company under the provisions of Companies Act,1956 on April 27, 2012 as New ever Infrahomes Private Limited. Later on it was converted to public limited company on June 07,2012 as Newever Infrahomes Limited. During the financial year 2013-14, the name of the company has been changed /altered from Newever Infrahomes Ltd. to Newever Trade Wings Limited and went for listing on 17th October, 2013 in Bombay Stock Exchange, SME Platform having Scrip Code 536644 its ISIN No. is INE596O01010 . The Company is presently engaged in the business of trading in Iron & Steel and other related commodities.
2. Rights, preferences and restrictions attached to shares Equity Shares:
The company has one class of equity shares having a par value of Rs. 10/- per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.
Necessary disclosures required under Micro, Small & Medium Enterprises Development Act, 2006, can only be considered once relevant information to identify the supplier who are covered under the said Act are received from such parties. The above information has been compiled in respect of parties to the extent to which they could be identified as Micro and Small Enterprises under Micro, Small and Medium Enterprises Development Act, 2006 on the basis of information available with the Company.
3. Related party transactions
Amount in Rs unless otherwise stated
Details of related parties:
Key Management Personnel (KMP) Mr. Sharad Jhunjhunwala, Mr . Akash Kumar
Entities in which KMP/Relatives of KMP
can exercise significant influence Dunhil Traders Pvt Ltd. "Flex Alloys Pvt Ltd (Ceased to be a related party during the year.)"
Note: Figures in italics relates to the previous year
4. Segment information
"As the Company's business activity falls within and is organised as a single business segment, viz. Trading , the disclosure requirements ofAccounting Standard (AS-17) on "Segment Reporting" are not applicable."
5. The previous year figures are reclassified where considered necessary to conform to this year's classification.
Mar 31, 2014
The Company has made public issue of 63,20,000 shares during the year through IPO for cash at par aggregating Rs.632 lacs having face value of Rs. 10 each, to meet its working capital requirement. Total number of shares as at the year end is 2,39,45,200 shares of which 1,82,28,450 shares are held in demat form. Total issue constitute 26.39% of the fully diluted post issue paid up equity share capital of the company.The equity shares are listed on BSE SME Platform. In terms of Chapter XB of the SEBI (ICDR) Regulations, 2009 the company is not required to obtain an in- principle listing approval for the shares being offered in the issue.However, the company has recieved an approval from BSE for listing its shares on SME platform of BSE.
A. RIGHTS. PREFERENCES & RESTRICTIONS ATTACHED TO SHARES:
The company has one class of equity shares having a par value of Rs.10/- per share.Each shareholder is eligible for one vote per share held.The dividend proposed by the Board of directors is subject to the approval of the shareholders in the ensuing annual general meeting,except in the case of interim dividend.In the event of liquidation ,the equity shareholders are eligible to recieve the remaining assets of the company after dsitribution of all preferential amounts in proportion to their shareholding.
Note 1 : RELATED PARTY DISCLOSURE
As per Accounting Standard 18, the disclosures of transactions with the related parties are elven below:
a.list of related parties where control exists and related parties with whom transactions have taken place and relationships:
Sr. No. Name of the Related Party Relationship_
1 Flex Alloys Private Limited Enterprise in which Key Managerial Personnel have significant influence
2 Dunhil Traders Private Limited Enterprise in which Key Managerial Personnel have significant influence
Note 2: SEGMENT REPORTING
Since the company is operating in a single line of business, no Segment Reporting is reported as defined by Accounting Standard (AS -17) - "Segment Reporting".
Note 3 : CONTINGENT LIABILITIES
There are no contingent liabilities as at the year end
Note 4 : CLASSIFICATION OF ASSETS AND LIABILITIES
All assets and liabilities have been classsified as current or non -current
Note 5 : ROUNDING OFF
Figures have been rounded off to the nearest rupees.
Mar 31, 2013
A) The Company was incorporated as Private Limited Company on Twenty Seven Day of April Two ) Thousand Twelve vide Registration No.- U70109WB2012PTC181106 issued by the Registrar of Companies, Kolkata, West Bengal. Later on it was converted to Public Limited Company on Seventh Day of June, Two Thousand Twelve vide Registration No.- U70109WB2012PLC181106 issued by the Registrar of Companies, Kolkata.
b) The Financial statements of the company are prepared for the period starting from 27th April, 2012 to 31st March, 2013
c) On the basis of information available with the company, no amount is payable to Small Scale Industrial Undertakings as on 31.03.2013 due for more than 30 days.
d) As this is the first year of the company re-arranging /re-grouping of figures does not arises..
e) The head/subhead in the financial statements and statements forming part thereof has been amended or deleted according to its applicability on the company and the requirements of the Schedule VI have been modified accordingl.