RED HERRING PROSPECTUS Dated August 24 ... - Globus Spirits

2. For the year ending 31.03.2009, the company was entitled to exemption under Section
249AA(1) of the U.K. Companies Act, 1985
3. The members have not required the company to obtain an audit in accordance with
Section 249B(2) of the U.K. Companies Act 1985
4. The Directors acknowledge their responsibility for :
• Ensuring the company keeps accounting records which comply with Section 221
and
• Preparing accounts which give a true and fair view of the state of affairs of the
company as at the end of the financial year and of its profit an loss for the
financial year in accordance with the requirements of section 226 and which
otherwise comply with the requirements of the Companies Act relating to
accounts so far as it is applicable to the company.
Share Quotation
The Company is not listed in any Stock Exchange.
The financial information of the above companies have been disclosed as per the Securities and
Exchange Board of India (Disclosure and Investor Protection) Guidelines.
Details Of Companies/Firms From Which Promoters Have Disassociated
Mr. Ajay Kumar Swarup, one of the Promoters of SVP Industries Limited, a company engaged in
the business of manufacturing Rectified Spirit, Extra-Neutral Alcohol, Country Liquor and IMFL,
has disassociated himself from the said company with effect from May 1, 2007. He has
disassociated himself in terms of disengaging from its supervision, day-to-day activities,
employment and shareholding.
The business of Globus Spirits Limited has been demanding more time, energy and attention of
Mr. Ajay Kumar Swarup. Mr. Swarup, being the sole individual promoter of Globus Spirits
Limited, considered it necessary that he concentrate on the growth of Globus Spirits, looking into
its potential and growth. SVP Industries Limited was a family concern where he was holding
10.1% of its Equity. He has since sold his entire holding to other family members last year and
w.e.f 1.5.2007 has also resigned as President from SVP Industries Limited. He has no controlling
interests in the said company. It was felt that having controlling interest in Globus and seeing
the increase in the business in the Company by launching new products needed his time and
devotion.
Mr. Ajay Swarup, the promoter of the Company has transferred his shareholding and also
resigned from the directorships of the following companies:
• Vithal Properties Private Limited
• Jaroda Plantations Private Limited
• Rambagh Estates Private Limited
• Shaktiman Properties Private Limited (only Shareholding has been transferred)
• Sidhi Estates Private Limited and
• Ridhi Estates Private Limited.
The majority of the shares as well as the office of directorship of these companies are now held
by the relatives of the promoter, who have been included in the promoter group. The details of
shareholding, directorships and the financials of these companies have been detailed under the
heading ‘Financial Information of Companies, Firms Promoted/Controlled by the Promoters’
starting at Page No. 174 of this Red Herring Prospectus
Details Of Group Companies Whose Names Have Been Struck Off From RoCs
None of the Companies promoted by the Promoters has been struck off as a defunct Company
by any ROC in India. There are no sick companies promoted by the Promoters. There are no
BIFR proceedings against any company promoted by the Company’s Promoters.
Common Pursuits
There are no companies/firms/ventures, which are/have been in similar business as Globus
Spirits Limited except as stated at page no. xxof the Red Herring Prospectus.
Changes in Accounting Policies in The Last Three Years
There has been no change in the Accounting Policies of the Company in the last three years.
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