| 1. RIGHTS, PREFERENCE AND RESTRICTIONS
The company has only one class of shares referred to as equity shares
having a par value of Rs.10/- each. Holder of equity shares is entitled
to one vote per share.
2. CONTINGENT LIABILITIES
a) Claims against the Company not acknowledged For the Previous
as debts in respect of:- In Lacs in Lacs Year Year
Sales Tax 12.55 12.55
Income Tax 14.34 14.34
Others 23.08 23.08
b) The Company has provided following Equity Shares as margin against
Derivative Products.
Description No. of Shares
Jaiprakash Power Ventures Limited 180,000
Jaiprakash Associates Limited 28,000
Jindal Poly Films Limited 9 200
Sterlite Technologies Limited 8,600
India Glycols Limited 3 127
3. RELATED PARTY TRANSACTIONS
As per the Accounting Standard -18 "Related Party Disclosures", issued
by the Institute of Chartered Accountants of lndia. The related
parties ofthe Company as on 31.03.2015 are as follows:
a) Associates
Network Capital Partners
b) Key Management Personnel
Mr. Ashok Kumar : C.F.O
Mr. Vikas Jain : DGM - Corporate Affairs & Company Secretary
4. Fixed Deposit with Bank Amount of Rs. 1,253/- is Pledged for Bank
Guarantee for Sale Tax Authority.
5. As on 01/04/2014 the Company was holding 12,15,505 Equity shares
and 5,50,000 Preference Shares of Kaizen Lifestyle Products Private
Limited having a book value of Rs. 21,46,24,915 and Rs. 5,50,00,000
respectively.
Pursuant to Scheme of arrangement duly approved by the Hon'ble High
Court of Delhi vide order dated 30th September 2014, Kaizen Lifestyle
Products Private Limited, Uninet Infra Technologies Private Limited,
Uninet Strategic Management Ltd have been amalgamated with Victor
Financial Consultants Private Limited.
Consequently the company has been allotted 1 Equity Shares of Rs. 10
each of Victor Financial Consultants Private Limited (Presently Uninet
Strategic Advisory Pvt. Ltd.) for every 1 Equity shares of Rs. 10 each,
held in Kaizen Lifestyle Products Private Limited and 1 Non-cumulative
optionally convertible preference share (OCPS) of Rs. 100 each of
Victor Financial Consultants Private Limited (Presently Uninet
Strategic Advisory Pvt. Ltd.) for every 1 Non- cumulative optionally
convertible preference share (OCPS) of Rs. 100 each, held in Kaizen
Lifestyle Products Private Limited.
Accordingly 12,15,505 Equity Shares of Rs. 10 each and 5,50,000
Non-cumulative optionally convertible preference share (OCPS) of Rs.
100 each were allotted to the company in Victor Financial Consultants P
Ltd (Presently Uninet Strategic Advisory Pvt. Ltd.) on 16/01/2015.
Name ofVictor Financial Consultants Pvt Ltd was changed to Uninet
Strategic Advisory Pvt Ltd w.e.f. 27th January 2015 with the approval
of Registrar of Companies pursuant to Rule 29 ofthe Companies
(Incorporation) Rules, 2014.
6. The Company has identified suppliers covered under the "Interest
on delayed payment to small scale and Ancillary undertaking Ordinance,
1992 promulgated on 23rd September, 1992 and has ascertained the
Liability in this regard as NIL.
7. Provision for long term expenses and liabilities no longer
required, have been written off amounting to Rs. 17,74,080/-
8. Other current liabilities includes a sum of Rs. 3.25 Cr. due to a
Company whose name appears in the Register maintained under section 189
of the Companies Act, 2013, which is Interest free.
9. SEGMENT REPORTING
During the year under reference, Company's revenue from operations
includes sale of securities, premium earned, mark to market and
interest on fixed depsoit/others. There was no other business segment
and therefore segment wise reporting as per AS -17 issued by the
Institute of Chartered Accountant of India is not relevant
10. DEFERRED TAX
The Company has substantial carried forward business losses and
unabsorbed depreciation, therefore, it is unlikely to have taxable
profits in near future, hence it is not considered necessary to create
deferred tax assets in accordance with Accounting Standard-22 issued by
the Institute of Chartered Accountants of India.
11. Previous Year's figures have been regrouped / rearranged wherever
necessary.
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