| 1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS
a. Financial statements are prepared in accordance with the Generally
Accepted Accouting Principles in India to complywith the Accounting
Standards notified under Section 211 (3C) of the Companies Act 1956
("the 1956 Act") [which continues to be
b. The Company follows mercantile system of accounting and recognizes
income & expenditure on an accrual basis except those
c. The accounting policies applied by the Company are consistent with
those used in the previous year.
d) Terms / Right attached to Equity Shares
The Company has only one class of equity shares having face value of
Rs. 10 per share. Each holder of equity share is entitled to one vote
per share.
In the event of Liquidation of the Company, the holders of equity
shares will be entitled to receive remaining assets of the
2 RELATED PARTY DISCLOSURES
Name of Related Parties and nature of related party relationship where
control exists Key Management Personnel (KMP)
Ajay Kumar Sachdev Vijay Kumar Sachdev Jitendra H Gohel
Individuals having Control or Significant Influence (ICSI)
Ajay Kumar Sachdev Vijay Kumar Sachdev
Enterprises over which Key Managerial personnel or, Individuals having
Control or Significant Influence over Reporting Enterprise are able to
exercise significant influence(EKMP)
Ace Equity Solutions Pvt ltd AVIS Capital
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