A. COMPANY OVERVIEW
Era E-Zone (India) Limited was incorporated as a Public Limited Company
under the name and style of Era Financial Services (India) Limited on
6th January, 1993 with the office of Registrar of Companies NCT of
Delhi & Haryana and obtained the Certificate of Commencement of
Business on 2nd February, 1993 from the office of Registrar of
Companies NCT of Delhi & Haryana. W.e.f. 20th September, 2006 it
changed its name to Era E-Zone (India) Limited consequent upon change
in its Main Objects. Presently Company is engaged in the business of
running of Multiplexes/Cineplexes, Food Court and real estate etc.
However, the company is now entering into manufacturing of
pre-engineered building blocks and other allied areas and has amended
the main object clause of its Memorandum of Association accordingly.
The Company''s registered office is situated at 153, Okhla Industrial
Estate, Phase-III, New Delhi-110020
The shares of the Company are listed on the Bombay Stock Exchange,
a Terms/right attached to Equity shares
The company has only one class of equity shares having par value of
Rs.10 per share. Each holder of equity shares is entitled to one vote
per share. The company declares and pays dividends only in Indian
In the event of liquidation of the company, the holders of equity
shares will be entitled to receive remaining assets of the company,
after distribution of all preferential amounts. The distribution will
be in proportion to the number of equity shares held by the
As per records of the company, including its register of
shareholders/members and all other declarations received from
shareholders regarding benficial interest, the above shareholding
represents both legal and benficial ownership of shares.
*Term Loan from Yes Bank Ltd was secured against exclusive charge on
whole of the movable assets relating to 9 screens & 3 food court and
current assets of the Company, both present and future pertaining to
units at various locations.
1. Capital and other commitments
Estimated Value of Contracts in Capital account remainning to be
executed & not provided for Rs. 201,51,022 (P.Y Rs. 201,51,022) net of
2. Contingent Liabilities
NIL (Previous Year - NIL)
3. SEGMENT REPORTING
Based on the guiding principles giving in the accounting standard
(AS-17) on segment reporting issued by the Institute of Chartered
Accountants of India, the primary segment of the company were Real
Estate business, Trading activities & Entertainment Business.
4. Related Party Disclosures
Related Parties With Whom Transactions Have Taken Place During The Year
a. Wholly Owned Subsidiaries: Silverline Cinemas Private Limited
b. Associates: Era Landmarks Ltd.(Till 05.01.11)
c. Key Management Personnel: Mr. H.S. Bharana -Chairman
Mr. Amit Bharana - Managing Director till 31.05.2011
Mr. Gaurav Chopra - Manager w.e.f. 01.06.2011
5. a) During the year Company issued 1,80,00,000 convertible warrants
to Non Promoters on Preferential basis and out of them 127,00,000
warrants have been converted into equal number of equity shares.
6. In the opinion of the board of directors, all the current assets,
loans & advances have value of realisation in the ordinary course of
business at least equal to the amount at which they are stated except
those are expressly stated and that all the known liabilities relating
to the period under review have been provided for.
7. In the opinion of the board, none of the assets/ cash generating
units of the company is impaired.
8. Expenditure/Earnings in foreign currency-Nil
9. There are no payments due to Micro, Small & Medium Enterprise.
10. Provisions for diminution in the value of Non Current Investments
has not been made as in the opinion of the board, such diminution is
11. Parties balance is subject to confirmation from them.
12. Previous Years Figures
Till the year ended 31st March,2011, the company was using pre-revised
Schedule VI to the Companies Act, 1956 for prepration and presentation
of financial statements. During the year ended 31st March,2012, the
revised schedule VI notified under Companies Act,1956 has become
applicable to the Company. The adoption of revised schedule VI does not
impact recognition and measurement principles followed for prepration
for financial statements. However, it significantly impacts
presentation and disclosures made in the financial statements,
particularly presentation of balance sheet. As a result, previous
years'' figures have been regrouped/ reclassified to conform to this
year''s financial statements where necessary.