| 1. Corporate Information
The Company earlier was known as "Executive Stock Broking Services
Limited" into stock broking business, considering a bearish trend in
the coming years, the company felt a need to diversify into Infra
activities and accordingly decided to change the name of the company
from "Executive Stock Broking Services Limited" to Abhishek
Infraventures Limited by changing the Main Objects of the company.
Abhishek Infraventures Limited is in the business of Infrastructure
Development.
2. Contingent Liabilities and Commitments - NIL-
3. The Company "Abhishek Infraventures Limited" was earlier known as
"Executive Stock Broking Services Limited". With effect from 26.07.2013
the name has been changed to Abhishek Infraventures Limited as per the
resolution passed by the Shareholders in the Postal ballot Resolution.
The entire main objects of the company as per the Memorandum of
Association were amended in order to better reflect the business
activities of the new name.
4. The Company "Abhishek Infraventures Limited" has taken approval
from the Shareholders as per the resolution passed through Postal
ballot for carrying out the other objects of the company as per the
Memorandum of Association. During the financial year 2013-2014 the
entire business was from the other objects of the company and
accordingly shown under Schedule "Other Income".
5. Related Party Transactions
(a)Following is the list of related parties and relationships:
Name Relationship
Kishore Bhatia Director
Manoj Kumar Director
Ajay Sharma Director
Kathirvel Kasthuri Executive Director
Govindrajan Madhusudhana Executive Director
6. Balances under Trade Receivable, Trade Payables, are subjected to
confirmation and reconciliation from respective parties.
7. Segment Reporting
a. Business Segment
The Company has considered "Engineering & Construction" as one main
business segment for disclosure in the context of Accounting Standard
17 as notified in the Companies (Accounting Standards) Rules 2006. The
Company is engaged in the business of Engineering & Construction
segment as per the Main Objects of the Company. But however since the
company has concentrated entirely on other objects as per the
Memorandum of Association the Business Segment for the current year
will be "Trading in goods & material".
b. Geographical Segment
During the year under report, the Company has engaged in its business
primarily within India. The conditions prevailing in India being
uniform, no separate geographical disclosures is considered necessary.
8. Rights of the share holders
The Equity shares of the Company having a par value of Rs. 10/- per
share, rank pari passu in all respects including voting rights and
entitlement to dividend. Repayment of the capital in the event of
winding up of the Company will inter alia be subject to the provisions
of Companies Act 1956, Articles of Association of the Company and as
may be determind by the Company in General Meeting prior to such
winding up.
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