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Notes to Accounts of B&A Ltd.

Mar 31, 2015

(A) Terms / rights attached to Equity Shares:

The company has one class of equity shares having a par value of Rs 10 per share. Each holder of equity share is entitled to one vote per share. In the event of liquidation of the company, the holders of equity will be entitled to receive remaining assets of the Company,after distribution of all preferential amounts, in proportion to their shareholdings.

(B) Of the above Shares-

(1) Shares in the Company held by each Shareholder holding more than 5 percent Shares:

8,61,918 Shares by Mr H.P Barooah (since deceased) (Previous Year 8,61,918 shares)

3,16,200 Shares by Mrs S.Shetty (Previous Year 3,16,200 shares)

2,42,430 Shares by Mr Somnath Chatterjee (Previous Year 2,42,430 shares)

(2) 1,43,210 Equity Shares of Rs. 10/- each fully paid up have been allotted as Bonus shares by Capitalisation of Reserves. ( Previous Year 1,43,210 Shares)

(3) Final Call on 30,000 Equity Shares amounting to Rs.1,48,425/- were fully paid up by way of Capitalisation of Reserves. ( Previous Year 30,000 Shares)

(4) 6,47,763 Equity Shares of Rs. 10/-each fully paid up have been allotted for consideration other than cash pursuant to Schemes of Amalgamation (Previous Year 6,47,763 Shares)

(5) There is no change in Share Capital during the year

2. Related Party Disclosures - pursuant to AS 18 of Companies (Accounting Standards) Rules 2006: Key Management Personel

Mr Somnath Chatterjee Key Management Personnel

Mr Debdip Chowdhury Key Management Personnel

Others

Heritage North East Pvt.Ltd. Associate Company

Kaziranga Golf Club Pvt.Ltd. Associate Company

Barooahs & Associates Pvt.Ltd Other Related party

Buragohin Tea Company Ltd. Other Related party

Assam Tea Brokers Pvt. Ltd. Other Related party

Super Packaging Ltd. Other Related party

Rockland Realty Pvt. Ltd Other Related party

Morris Construction Pvt.Ltd. Other Related party

Hacienda Properties Pvt.Ltd. Other Related party

(B) Investments (Note 12 of the notes to the accounts):-

The shares of B & A Packaging India Ltd. has been thinly traded in the Stock Exchange from the financial year 2002 onwards till date and therefore valuation as certified by the company^ auditor has been taken as market value of shares.

3. Company Long Term employee benefit Scheme presently consists of Gratuity only. Following are the details of amount recognised in the financial Statements in respect of gratuity as per acturial valuation:

4. Value of Green Leaf produced in the Company' own tea estates is not ascertainable. However, cost of material consumed represents only cost of green leaf purchased from other tea growers..

5. The Company has charged depreciation as per Schedule II to the Companies Act, 2013. Consequently, depreciation charge for the year ended 31st March,2015 is higher by Rs 237 Lac compared to the previous financial year, out of which Rs. 71 Lac has been charged against profit from ordinary activities for the year and the balance Rs 166 lac has been adjusted against retained profit as on 01.04.2014. In respect of Buildings, and Plant and Machinery the Company has adopted useful lives longer than those specified in Schedule II to the Companies Act, 2013. Such useful lives are based on the technical assesments made by an independent valuer.

6. Rates and Taxes includes provision for wealth tax Rs.1,80,000/-for the current year and Rs 1,67,242 for previous year.

7. The Board of Director' in its meeting held on 26th March,2015 has approved Rs.22.50 lac, being the qualifying amount for the year ended 31st March, 2015, on CSR initiatives in line with the suggestions made by CSR Committee of Directors in this regard. However, since this is the first year of operation after CSR norms have been made effective to the Company, it could not defray expediture with in 31st March,2015 on approved projects, as identification process of CSR initiatives in line with the CSR policy took time . However the Company has started defraying fnunds on approved projects in the current financial year. The Company has not provided in its books for CSR expenses for the financial year 2014- 15 as per Guidance Note issued by the Institute of Chartered Accountants of India on "Accounting for Expenditure on Corporate Social Responsibility Activity".

8. Previous year's figures have been regrouped and rearranged, wherever considered necessary.


Mar 31, 2014

1.(A)Notes on share capital

(a) With regards to 8,61,918 equity shares in the company held by Late H.P.Baroooah, a pro- ceeding is pending before Learned Civil Judge at Jorhat being Title suit no.41 of 2012.

(b) Of 3,16,200 equity shares in the company held by Mrs.S.Shetty, a proceeding is pending before Learned Civil Judge at Jorhat with respect to 2,21,230 shares being Title suit no 47 of 2012.

(c) With regards to 2,42,430 equity shares in the company held by Mr.S.Chatterjee a proceed- ing is pending before Learned Judge at City Civil Court, Kolkata being Title Suit no. 306 of 2014.

(B) Investments (Note 13 of the notes to the accounts):-

The shares of B & A Packaging India Ltd. has been thinly traded in the Stock Exchange from the financial year 2002 onwards till date and therefore valuation as certified by the company''s auditor has been taken as market value of shares.

2. Company''s Long Term benefit Scheme presently consist of Gratuity only. Following are the details of amount recognised in the Financial Statements in respect of gratuity as per acturial valuation:

3. Value of Green Leaf produced in the Company''s own tea estates is not ascertainable. However, cost of material consumed represents only cost of green leaf purchased from other tea growers.

4. Green leaf purchased and consumed during the year 1,05,43,774 kgs. (P.Y. - 1,00,74,693 Kgs.)

5. Previous year''s figures have been regrouped and rearranged, wherever considered necessary.


Mar 31, 2013

1. Contingent Liabilities

– Liability for Excise Duty 11,27,944 11,27,944

– Liability for Privident Fund (for ration to employees) NIL 29,68,948

– Liability for Arrear Land Revenue 14,20,304 14,20,304

– Liability for Interest on Green Leaf Cess NIL 71,36,198

– Liability for Interest on Employees Proviident Fund NIL 1,00,61,000

2. Company''s Long Term benefit Scheme presently consist of Gratuity only. Following are the details of amount recognised in the Financial Statements in respect of gratuity as per acturial valuation:

3. Related Party Disclosures - pursuant to AS 18 of Companies (Accounting Standards) Rules 2006:

(a) Where control exists:

Related Parties

Name: Relationship :

B & A Packaging India Ltd. Subsidiary Company

(b) Others

Dr. H. P. Barooah Key Management Personnel

Mr. Somnath Chatterjee Key Management Personnel

Mrs. Gargi Barooah Relative of Key Management Personnel

Heritage North East Pvt.Ltd. Associate Company

4. Value of Green Leaf produced in the Company''s own tea estates is not ascertainable. However, cost of material consumed represents only cost of green leaf purchased from other tea growers.

5. Green leaf purchased and consumed during the year 1,00,74,693 kgs. (P.Year - 86,04,224 Kgs.)

6. Previous year''s figures have been regrouped and rearranged, wherever considered necessary.


Mar 31, 2012

1. Other liabilities in Note No. 9 include Rs.2,90,845 (Previous year Rs.2,77,872) in respect of unclaimed dividends.

2. Estimated amount of contracts remaining to be executed on capital account and not provided for Rs. Nil (Previous year Rs.Nil)

3. The Company has only one business segment of manufacture and sale of black tea, hence AS 17 of Companies accounting Rules,2006 do not apply.

4. Contingent Liabilities

- Liability for Excise Duty 11,27,944 11,27,944

- Liability for Privident Fund (for ration to employees) 29,68,948 11,83,069

- Liability for arrear Land revenue 14,20,304 14,20,304

- Liability for Interest on Green Leaf Cess 71,36,198 -

- Liability for Interest on Employees Proviident Fund 1,00,61,000 -

5. Company's Long Term benefit Scheme presently consist of Gratuity only. Following are the details of amount recognised in the Financial Statements in respect of gratuity as per acturial valuation:

TABLE-3 GRATUITY FUND

Acturial calculation for AS 15 (Rev,2005) for the purpose change in obligation/assets in the year ending 31.03.2012. (Rs in Lac)

6. Value of Green Leaf produced in the Company's own tea estates is not ascertainable. However, cost of material consumed represents only cost of green leaf purchased from other tea growers.

7. Green leaf purchased and consumed during the year 86,04,224 kgs. (P.Year - 87,94,981 Kgs.)

8. Previous year's figures have been regrouped and rearranged, wherever considered necessary.

 
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