A. The Company has issued one class of equity shares having a face
value Rs.10 per share. Each shareholder has right to vote in respect
of such share, on every resolution placed before the Company and his
voting night on a port shall be in proportion to his share of the paid
-up equity capital of the Company. In the event of liquidation, the
equity shareholders are entitled to receive the remaining assets of the
Company after payments to secured and unsecured creditors, in
proportion to their shareholding.
a. Loan from a Body Corporate - India InfoKne Finance Ltd. is secured
by way of lien marking on the units of Venture Capital Funds, further
secured by way of mortgage of Properties of the Director and an
Associate Body Corporate and personal guarantee of the Managing
b. There are no defaults in repayment of loan.
1. Contingent liability and Commitments :
a. Disputed Income Tax Matters amounting to Rs.NIL (Previous Year -
b. Interest / Penalties as may be levied in the matter of various
statutes / Rules / Directions - Amount not ascertainable.
2. Capital Commitment in respect of uncalled liability:
Current Year Previous Year
i) India Growth Fund 8,356,422 8,750,000
ii) Kotak India Venture Fund-1 60,48,960 15,000,000
3. In view of loss during the year, no amount has been transferred to
4. The accounts of Trade Payables are subject to confirmations,
reconciliations, and adjustments, if any, having consequential impact
on the loss for the year, assets and liabilities, the amounts whereof
are presently not ascertainable. However, the management does not
expect any material difference affecting the current year''s financial
5. The Company has made provision for leave entitlement and gratuity
as per its Accounting Policies as stated in Para 9 above which is in
variance with AS-15 - Employee Benefits prescribed by the
Companies (Accounting Standards) Rules, 2006. However, the same does
not have material impact on the financial statements of the Company.
6. In the opinion of the Board, the assets other than fixed assets and
non-current investments have a value on realisation in ordinary course
of business atleast equal to the amount at which they are stated.
7. The Company has not received any intimation from suppliers
regarding their status under the Micro, Small and Medium Enterprises
Act, 2006 and hence disclosures, if any, relating to amounts unpaid as
at the year end together with interest paid/payable as required under
the said Act have not been given.
1. Related parties are as identified by the Company and relied upon by
2. No amount pertaining to Related Parties have been provided for as
3. Figures in bracket represent corresponding amounts in the previous
8. Deferred Tax Liability / (Asset):
As a matter of prudence, the management has not recognized the deferred
tax assets for period upto 31st March, 2011 and for the year.
9. SEGMENT INFORMATION :
A. Primary Segment Reporting
The Company has single reportable segment viz. investment and dealing
in shares and securities for the purpose of Accounting Standard 17 on
B. There are no secondary and geographical segment as all the
operations are carried on in India.
10. Current year''s Financial Statements have been presented in
accordance with the Revised Schedule VI, previous year''s figures have
been regrouped / reclassified / rearranged, wherever necessary to
conform to the current year''s presentation.