1. Profit/ loss from F&O and Non Delivery transactions are accounted
on net of brokerage paid.
2. Advances recoverable in cash or in kind or for value to be
received in respect of which company is fully secured includes:-
3. Balances of the Sundry Debtors, Loans and Advances and Sundry
Creditors are subject to confirmation and resultant reconciliation, if
4. There are no dues to Micro and Small Enterprises as at 31st March,
2013. This information as required to be disclosed under the Micro,
Small and Medium Enterprises Development Act, 2006 has been determined
to the extent such parties have been identified on the basis of
information available with the company.
5. In accordance with Accounting standard ''AS-18'' relating to Related
Party Disclosures, information pertinent to related party transaction
is given as under:-
Parties Where Control Exists : Finsolution Services FZE - Wholly Owned
Luharuka Tradelink Pvt. Ltd. - Subsidiary
Parties with whom transaction have taken place.
A. Name of the related parties & description of relationship
a) Key Managerial Personnel : Shri. Bharat Shiroya (Executive Director)
and their enterprises Smt. Annu Agrawal (Director).
Shri Anil Agrawal (Managing Director)
Anil Agrawal -HUF
(HUF of Mr. Anil Agrawal, Managing Director)
Shri Jugal Thacker (Independent Director)
Shri Janak Mehta (Independent Director)
Shri Anand Agarwal (Independent Director)
b) Relative of Key Managerial Personnel : M/s Luharuka Travels & M/s
Luharuka Enterprises (Proprietorship
concerns of Mr. Pradeep Agrawal, brother of Managing Director i.e. Anil
c) Associates : Comfort Securities Ltd
Comfort Fincap Ltd.
Comfort Commotrade Ltd.
Comfort Capital Pvt. Ltd.
Luharuka Dealers Pvt. Ltd.
Luharuka Investment & Consultants Pvt. Ltd.
Luharuka Exports Pvt. Ltd.
Lemonade Share & Securities Pvt. Ltd.
Liquors India Ltd.
d) Subsidiary : Luharuka Tradelink Pvt. Ltd.
: Finsolution Services FZE
6. During the fiscal year 2012-2013, the Company had remitted an
amount of 1,00,000 AEDin its Wholly Owned Subsidiary (WOS) i.e.
Finsolution Services FZE located at RAK Investment Authority, Ras Al
Khaimah and United Arab Emirates. This remittance was toward
subscription of shares in its WOS.
7. During the fiscal year 2012-2013, the Company had purchased 98% of
the total shares of Luharuka Tradelink Pvt. Ltd. and became the
8. Prior Period Expenses
A prior period expense is included under other expenses.
9. The Previous years figures have been regrouped / rearranged /
reclassified wherever necessary. Amounts and other disclosures for the
preceding financial year are included as an integral part of current
year''s financial statements.