| 1 General Information
NEWEVER TRADE WINGS LTD (" the Company ") was incorporated as private
limited company under the provisions of Companies Act,1956 on April 27,
2012 as New ever Infrahomes Private Limited. Later on it was converted
to public limited company on June 07,2012 as Newever Infrahomes
Limited. During the financial year 2013-14, the name of the company has
been changed /altered from Newever Infrahomes Ltd. to Newever Trade
Wings Limited and went for listing on 17th October, 2013 in Bombay
Stock Exchange, SME Platform having Scrip Code 536644 its ISIN No. is
INE596O01010 . The Company is presently engaged in the business of
trading in Iron & Steel and other related commodities.
2. Rights, preferences and restrictions attached to shares Equity
Shares:
The company has one class of equity shares having a par value of Rs.
10/- per share. Each shareholder is eligible for one vote per share
held. The dividend proposed by the Board of Directors is subject to the
approval of the shareholders in the ensuing Annual General Meeting,
except in case of interim dividend. In the event of liquidation, the
equity shareholders are eligible to receive the remaining assets of the
Company after distribution of all preferential amounts, in proportion
to their shareholding.
Necessary disclosures required under Micro, Small & Medium Enterprises
Development Act, 2006, can only be considered once relevant information
to identify the supplier who are covered under the said Act are
received from such parties. The above information has been compiled in
respect of parties to the extent to which they could be identified as
Micro and Small Enterprises under Micro, Small and Medium Enterprises
Development Act, 2006 on the basis of information available with the
Company.
3. Related party transactions
Amount in Rs unless otherwise stated
Details of related parties:
Key Management Personnel (KMP) Mr. Sharad Jhunjhunwala,
Mr . Akash Kumar
Entities in which KMP/Relatives of KMP
can exercise significant influence Dunhil Traders Pvt Ltd.
"Flex Alloys Pvt Ltd
(Ceased to be a related party
during the year.)"
Note: Figures in italics relates to the previous year
4. Segment information
"As the Company's business activity falls within and is organised as a
single business segment, viz. Trading , the disclosure requirements
ofAccounting Standard (AS-17) on "Segment Reporting" are not
applicable."
5. The previous year figures are reclassified where considered
necessary to conform to this year's classification.
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