Mar 31, 2014
1. Application for Listing
The Company has filed an application with the Bombay Stock Exchange
(BSE) for listing of its entire equity share capital of Rs 10 each on
the BSE. The application of the Company is pending approval of BSE.
2. Capitai Commitments
31 March, 2014 31 March, 2013
Estimated amount of contracts
remaining to be executed on capital
account and not provided for (net 21,825,836 -
of advances)
3. Contingent liabilities
Contingent Liability in respect of
contested demand of AY 2008-09 44,600 44,600
4. Segment Reporting
The Company is predominantly engaged In the business of trading
activities and Is a ''Single Segment'' Company.
5. Related Party Disclosures
As per Accounting Standard 18 ''Related Party Disclosures'' Issued by
ICAI, the disclosure of transactions with related parties are given
below:
(i) Names of the related parties and description of relationship
List of related parties where control exists:
1- Key Management Personnel (KMP) and their relatives
Mrs. Suchita Chhawchharia - Director
Mr. Ksbitii Chhawchharia - Relative of Director
2. Enterprises where KMP/ relatives of KMP have significant influence
or control
BCCO Commodities Private Limited
BCCO Consultants Private Limited
BCCOHoldings Private Limited
B Chhawchharia & Co.
3, Associates
Avon Credit Private Limited
6. Accounting far Taxes on Income
As availability of future taxable income is not certain. On
consideration of prudence, provision for deferred tax assets is not
made In term of AS 22, Accounting for Taxes on Income.
7. Details of dues to micro and small enterprises as defined under
the MS MED Act,2006
The Company has circulated confirmation for the identification of
suppliers registered under the Micro, Small and Medium Enterprises
Development Act, 200&. On the basis of information available with the
Company under the aforesaid Act, there are no Enterprises to whom the
Company owes dues which are outstanding at year end. This has been
relied upon by the Auditors.
8. There is no employee eligible for gratuity and as such no
provision made.
9. Previous year figures have been reclassified Wherever appropriate
to confirm to current year''s presentation.
10. All the figures in these notes are in ''Rs'' except otherwise
stated,
Mar 31, 2012
1. Contingent liabilities 31 March, 2012 31 March, 2011
Contingent Liability in respect
of contested demand of AY 2008-09 44,600 44,600
2. Segment Reporting
The Company is predominantly engaged in the business of financial
activities and is a ''Single Segment'' Company.
3. Related Party Disclosures
As per Accounting Standard 18 ''Related Party Disclosures'' issued by
ICAI, the disclosure of transactions with related parties are given ''
below:
(i) Names of the related parties and description of relationship
Associates
Avon Credit Private Limited
Gallon Holdings Private Limited
4. Accounting for Taxes on Income
As availability of future taxable income is not certain, on
consideration of prudence, provision for deferred tax assets is not
made in term of AS 22, Accounting for Taxes on Income.
5. Details of dues to micro and small enterprises as defined under the
MSMED Act,2006
The Company has circulated confirmation for the identification of
suppliers registered under the Micro, Small and Medium Enterprises
Development Act, 2006. On the basis of information available with the
Company under the aforesaid Act, there are no Enterprises to whom the
Company owes dues which are outstanding at year end. This has been
relied upon by the Auditors.
6. There is no employee eligible for gratuity and as such no provision
made.
Mar 31, 2011
1) Contingent Liability not provided for in respect of contested demand
for AY 2008-09 &. AY 2007-08 amounts to Rs 97,343.
2) Advances recoverable includes against given against property Rs
4,625,000 for acquisition and property development to body corporates.
3) The Company is predominantly engaged in the business of financial
activities and is a ''Single Segment1 Company.
4) Related Party Disclosures:
(a) List of Related Parties:
Associates Avon Credit Pvt. Ltd.
Gallon Holdings Pvt. Ltd.
5) As availability of future taxable income is not.certain, on
consideration of prudence, provision for deferred tax assets is not
made in terms of AS - 22, Accounting for Taxes on Income.
6a) The Company does not owe any sum to Small Scale Undertakings which
were outstanding for more than 30 days as at the end of the financial
year.
6b) In the absence of necessary information relating to the suppliers
registered as Micro, Small and Medium Enterprises under the Micro,
Small and Medium Enterprises (Development) Act, 2006, the Company has
not been able to identify such suppliers and the information required
under the said Act could not be compiled and disclosed.
7) There is no employee eligible for Gratuity as such no provision
made.
8) (a) Previous years figures have been rearranged/regrouped wherever
necessary, (b) Previous year figures above are mentioned in the
brackets.