| 1. Going Concern
The financial statements of the company are prepared on the assumption
of going concern. During the year under audit, the company has not
carried out any commercial activity. Since the management of the
company has plans to carry on financing and investing activity, the
entity is a going concern.
2. Investments
Long Term Investments are stated at cost less provision, if any, for
diminution which is other than temporary in nature. Current investments
are valued at lower of cost and net realizable value. As on the date of
this report, the investments of the company have been listed on the
stock exchange and the value of investments are higher than its book
value.
The Company's holding in Dr. Datson Labs Limited has reduced from
24.86% to 2.84% (YOY) as on 31st March, 2014 on account of Encumbered
shares being invoked by the Financiers owing to the non payment of the
dues.
3. Share Capital
There is no change in Authorized Share Capital and Paid up Share
Capital during the year.
4. Change in Name
The company's name was changed from Aasda Lifecare Ltd to Finaventure
Capital Limited vide fresh certificate of incorporation issued by
Registrar of companies Ministry of Corporate affairs dated 7th June
2011.
8. Related Party Disclosures
In accordance with Accounting Standard 18 - "Related Party Disclosures"
issued by the Institute of Char- tered Accountants of India, we report
the following related party transactions during the period under
review.
A. List of Related Parties
Name of the related party Nature of relationship
where control exists
i. Dr. Kannan Vishwanath Director
B. Transactions with related parties.
Particulars of transaction
The Company has entered into the following related party transactions.
As on March 31, 2014 such parties and transactions are identified as
per Accounting Standard 18 issued by the 'The Institute of Chartered
Accountants of India.'
9. Employee Benefits
Since company has only two employees no provision for gratuity and
leave benefit has been made during the year.
10. Deferred Ta x Assets / Liabilities
Since there are no timing difference in determination of Income between
the financial statement and income as per Income tax calculation, there
is no need to recognize deferred tax asset / liability.
11 . Segment Reporting
Since there are no reportable business segments or geographical
segments of the company, this point is not applicable.
13. The Company does not propose to declare any dividend during the
year (Previous year Rs. NIL)
14. Unclaimed dividend for current year is Nil. No amount is
transferred to Investor Education and Protection Fund as the mandatory
period of 7 years has not lapsed.
15. The Income Tax assessments of the Company are completed upto the
Assessment Year 2008 - 09 (i.e. Financial year 2007 - 08).
16. There are no other known contingent liabilities as at the Balance
Sheet date other than assessments under Income Tax Act, which are yet
to be completed and same cannot be quantified.
17. There are no debtors outstanding for more than 6 months.
18. The previous year figures have been recast / regrouped whenever
necessary in order to confirm to cur- rent year's presentation.
| 