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Notes to Accounts of Basant Agro Tech (India) Ltd.

Mar 31, 2015

1. Rights attached to equity shares

The Company has only one class of equity share of face value of Rs.1/-per share. Each holder of equity share is entitled to one vote per share. The company declares and pays dividend on equity shares in Indian rupee

(Rs. in lacs)

2. CONTINGENT LIABILITIES

Claim against the company not acknowledged as a debt

* Custom duty demand pending before ommissioner customs (appeals), Mumbai 18.46 26.46

3. VALUE OF IMPORTS (ON CIF BASIS) & EARNINGS

(a) * Raw materials : 2449.92 1767.64

* Stores & spares & capital goods Nil Nil

(b) Earning in foreign exchange Nil Nil

4. RELATED PARTY DISCLOSURE

List of related parties with whom transactions have taken place during the year :

1. Enterprises over which : M/s. Basant Seeds, M/s. Ashwin & Co. Key managerial personnel are able to exercise significant influence

2. Key managerial personnel : Shri. Shashikant C. Bhartia - Chairman & Managing Director

Shri. Deepak C. Bhartia - Managing Director Shri. Ashwin Bhartia - Executive Director Shri. Naredra Pathak - Chief Financial Officer Shri. Prasad Todankar - Company Secretary

5. Previous years' figures / published financial results have been regrouped and reclassified wherever necessary to correspond with the current years' classification / disclosures.


Mar 31, 2014

Notes :

1. The above cash flow statement has been prepared by using the indirect method as per the Accounting Standard 3-Cash flow Statement issued by the Institute of Chartered Accountants of India.

2. Previous year''s figures have been regrouped / rearranged wherever necessary to conform to the current year''s presentation.

Note : Lease hold land has been acquired from M/s Suzlon for the period of 30 years.

NOTES ON FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2014

( Rs. in thousands) For the year ended For the year ended 31st March, 2014 31st March, 2013

NOTE No. 2 : CONTINGENT LIABILITIES

Contingent liabilities not provided for Custom duty demand pending before commissioner customs 26.46 Nil (Appeals), Mumbai

NOTE No. 3 : VALUE OF IMPORTS (ON CIF BASIS) & EARNINGS

(a) - Raw materials: 292276 392326

- Stores & spares & capital goods Nil Nil

(b) Earning in foreign exchange Nil Nil

NOTE No. 4 : RELATED PARTY DISCLOSURE

List of related parties with whom transactions have taken place during the year :

1. Associate : M/s. Basant Seeds, M/s. Ashwin & Co.

2. Key managerial personnel : Shri. Shashikant C. Bhartia - Chairman & Managing Director

Shri. Deepak C. Bhartia - Managing Director Shri. Ashwin Bhartia - Executive Director.

Notes :

(i) No amounts in respect of related parties have been written off / written back or provided for during the year.

(ii) Related party relationship have been identified by the management and relied upon by the auditors.

NOTE No. 5 :

Previous year''s figures / published financial results have been regrouped and reclassified wherever necessary to correspond with the current years'' classification / disclosures.


Mar 31, 2013

NOTE No. 1 : CONTINGENT LIABILITIES

Contingent liabilities not provided for Nil Nil

NOTE No. 2 : RELATED PARTY DISCLOSURE

List of related parties with whom transactions have taken place during the year :

1. Associate : M/s. Basant Seeds, M/s. Ashwin & Co.

2. Key Managerial Personnel : Shri. Deepak C. Bhartia - Managing Director

Shri. Shashikant C. Bhartia - Chairman & Managing Director Shri. Ashwin Bhartia - Executive Director.

NOTE No. 3 :

Previous year''s figures / published financial results have been regrouped and reclassified wherever necessary to correspond with the current years'' classification / disclosures.


Mar 31, 2012

NOTE No. 1 : CONTINGENT LIABILITIES

Contingent liabilities not provided for Nil Nil

NOTE No. 2 : RELATED PARTY DISCLOSURE

List of related parties with whom transactions have taken place during the year :

1. Associate : Basant Seeds, Ashwin & Co.

2. Key Managerial Personnel : Deepak C. Bhartia - Managing Director, Shashikant C. Bhartia - Chairman & Managing Director, Ashwin Bhartia - Executive Director

Notes:

(i) No amounts in respect of related parties have been written off/written back or provided for during the year.

(ii) Related party relationship have been identified by the management and relied upon by the auditors.

NOTE No. 3 : UTILISATION OF FUNDS

During the year 2011-12 the company has allotted 70,00,000 equity shares of Rs. 1/- each to the promoters of the company at the premium of Rs. 6.75 per shares aggregating to Rs. 542.50 lacs on conversion of warrants.

NOTE No. 4 :

The financial statement has been prepared on basis of revised Schedule VI which has become effective from April 2011. Hence previous year's figures/published financial results have been regrouped and reclassified wherever necessary to correspond with the current years' classification/disclosures.


Mar 31, 2010

1. Contingent liabilities not provided for (Rs. in Thousands)

2009-10 2008-09

Nil Nil

2. Estimated amount of Contracts remained to be executed on capital account - NIL

3. a) The information regarding small scale industrial undertakings has been determined to the extent that such parties have been identified on the basis of information available with the company. This has been relied upon by the Auditors b) The company has not received any intimation from the supplier regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosures if any relating to amounts unpaid as at the year end together with the interest paid/ payable as required under the said Act have not been given.

4. In the opinion of management current assets, loans & advances have a value on realisation which is atleast equal to their value stated in Balance Sheet.Provision for depreciation & all known liabilities is adequate and not in excess of the amount reasonably necessary.

5. The accounts of certain Sundry Debtors, Sundry Creditors, Advances and Lenders are subject to confirmation/ reconciliation and adjustments, if any. The management does not expect any material difference affecting the current years financial statements.

6. Accounting Standard 18 : Related party disclosure

List of related parties with whom transactions have taken place during the year:

1. Associate : Basant Seeds,Ashwin & Co.

2. Key Managerial Personnel : Deepak C. Bhartia - Managing Director

Shashikant C. Bhartia - Jt. Managing Director Ashwin Bhartia - Executive Director

3. Relatives of key managerial : Shri N. C. Bhartia, Smt.S. S. Bhartia, Shri A.D. Bhartia, Personnel Shri A.N.Bhartia, Smt. T. C. Bhartia, Smt. V. N. Bhartia, Smt. N. D. Bhartia,

7. Previous years figures / published financial results have been regrouped and rearranged wherever necessary.

 
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