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Comfort Infotech
BSE: 531216|ISIN: INE819A01023|SECTOR: Finance - General
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« Mar 12
Notes to Accounts Year End : Mar '13
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
 any.
 
 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
 Subsidiary
 
 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
 Agrawal
 
 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
 Holding Company.
 
 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.
Source : Dion Global Solutions Limited
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