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Moneycontrol.com India | Notes to Account > Finance - Leasing & Hire Purchase > Notes to Account from Pioneer Investcorp - BSE: 507864, NSE: N.A
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Pioneer Investcorp
BSE: 507864|ISIN: INE746D01014|SECTOR: Finance - Leasing & Hire Purchase
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Mar 12
Notes to Accounts Year End : Mar '13
1.  The Company, under its various ESOP Plan/Schemes, has granted in
 aggregate 4,866,500 options, as on 31st March, 2013 (previous year
 4,866,500).
 
 Employee Stock option Reserve outstanding at the beginning of the year
 amounting to Rs. 1,271,971 (previous year 1,442,071) was reduced by Rs.
 113,400 (previous year 170,100) on account of stock options
 forfeited/lapsed during the year.
 
 2.  Related Parties Disclosures
 
 Category I : Key Management Personnel
 
 (1) Mr. G. M. Gandhi - Managing Director
 
 (2) Mr. Rakesh Bhatia - Chief Financial Officer
 
 Category  II  Subsidiary Companies
 
 (1) Infinity.com Financial Securities Ltd.
 
 (2) Pioneer Commodity Intermediaries Pvt. Ltd.
 
 (3) Pioneer Money Management Ltd.
 
 (4) Pioneer Investment Advisory Services Ltd.
 
 (5) Pioneer Wealth Management Services Ltd.
 
 (6) PINC Fund Advisors LLC (incorporated in Mauritius)
 
 (7) Pioneer Fundinvest Pvt. Ltd.
 
 (8) PINC Energy Resources Private Limited (disposed off during the
 year)
 
 Category  III Entities under common control
 
 (1) Pioneer Intermediaries Pvt. Ltd.
 
 (2) Pioneer Insurance & Reinsurance Brokers Pvt. Ltd
 
 (3) Sharp Point Motors & Automobiles Pvt. Ltd.
 
 (4) Symbyosys Integrated Solutions Pvt. Ltd.
 
 (5) Pioneer Fund Advisors Pvt. Ltd.
 
 (6) Siddhi Portfolio Services Pvt. Ltd.
 
 (7) L.Gordhandas & Co. Clearing Agent Pvt. Ltd.
 
 (8) Benefit Realty Pvt. Ltd.
 
 (9) Festive Multitrade Pvt. Ltd.
 
 3. The Company has taken office premises on operating lease. Lease
 rents in respect of the same have been charged to Statement of Profit
 and Loss. The agreements are executed for a period ranging 1 to 3 years
 with a renewable clause. Some agreements have a clause for a minimum
 lock-in period. The agreements also have a clause for termination by
 either party giving a prior notice period between 30 to 90 days. The
 minimum Lease rentals outstanding as at March 31, 2013, are as under:
 
 4.  Provision for Income Tax has been made inthe accounts as per the
 provisionsof the Income Tax Act, 1961.
 
 5.  The Company has not received any intimation from ''suppliers''
 regarding their status under the Micro, Small and Medium Enterprises
 Development Act, 2006 and hence disclosure requirements in this regard
 as per Schedule VI ofthe Companies Act, 1956 have not been provided.
 
 6.  Inthe opinionof the Boardof Directors andto the bestof their
 knowledge adequate provisions has been made in the accounts for all
 known liabilities and the current assets, loans and advances have a
 value on realization in the ordinary courseof business.
 
 7.  The figures of the previous year are regrouped or reclassified,
 wherever necessary, to make them comparable with the figures of current
 year.
Source : Dion Global Solutions Limited
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