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Notes to Accounts of BCL Industries & Infrastructures Ltd.

Mar 31, 2015

I The Company has only one class of shares refer to as equity shares having a par value of Rs.10/- each. Each holder of equity shares is entitled to one vote per share.

ii The Company declares and pays dividends in Indian Rupees. The dividend propose by the Board of Directors is subject to the approval of share holders in the ensuing Annual General Meeting

iii The Board of Directors, in its meeting held on February 14, 2015 declared an interim dividend of 0.60 paisa per equity share. Further the Board of Directors, in its meeting May 30, 2015 have proposed a final dividend of 0.40 paisa per equity share for the financial year ended March 31, 2015. The proposal is subject to the approval of share holders at the Annual General Meeting to be held on September 26, 2015. The total appropriation for the year ended March 31, 2015 would amount to approximately Rs.169.80 lacs including Corporate Dividend Tax of Rs.28.30 lacs.

iv In the event of liquidation of the company, the holders of equity shares will be entitled to received any of the remaining assets of the company in proportion to the number of equity shares held by the share holders, after distribution of all preferential amounts


Mar 31, 2014

1. Related Party Disclosures

As per Accounting Standard 18, the disclosure of transactions with the related parties are given below: -

i) Related Party where control exists: NIL

ii) The list of related parties where significant influence exists & with whom transaction have taken place and relationship :

Name of the Related Party Relationship

Kissan Fats Limited, Associate Company Bathinda

R.K. Exports, Bathinda Director'' s Concern Prop. Sh. Rajinder Mittal

Name of the Related Party Nature of Transaction Amount Amount

Sale of Goods: i) Oil & Vanaspati Unit ii) Distillery Unit

Purchase of Goods : i) Oil & Vanaspati Unit Kissan Fats Limited, ii) Distillery Unit Bathinda Milling Charges

Interest Paid / Credited

R.K. Exports, Bathinda Purchase of Goods Prop. Sh. Rajinder Mittal Interest Received/Debited



2013-14 2012-13 (Amount Rs. in Lacs)

Name of the Related Party 1975.78 7192.22 - 7.76

3460.95 9063.69 Kissan Fats Limited, 226.71 193.01 Bathinda - 4.55

86.84 369.20

R.K. Exports, Bathinda 4284.23 1240.56 Prop. Sh. Rajinder Mittal 339.46 333.00



Name Relationship Nature

1. Sh. Rajinder Mittal Managing Director Remuneration

2. Sh. S.N. Goyal Whole Time Director Remuneration

Name

1. Sh. Rajinder Mittal 12.00 12.00

2. Sh. S.N. Goyal 3.60 1.95

15.60 13.95

2. Impairment of fixed Assets

The company has reviewed as at 31 /03/2014 the future earnings of its cash generation unit in accordance with AS-28 issued by ICAI. As the carrying amount of the assets does not exceed the future recoverable amount consequently no adjustment is considered necessary by the management .

3. Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification/disclosure.

4. In the opinion of the Board of Directors, Current Assets, Loan and Advances etc; are realizable at the value approximately at which they are stated in the Balance Sheet in the ordinary course of business.

5. Provision for current tax

The Provision of Income Tax has been made as per the advice of Income Tax Advocate. If any extra demand is raised by income tax authorities that is accounted for in the year of payment/ final adjustment.

6. Segment Information

The company has indentified three reportable segments viz. Oil &Vanaspati, Distillery unit and Real Estate. The segment has been indentified and reported taking into account unitwise, nature of product and services. The accounting policies adopted for segment reporting are in line with the accounting policy of the company with following additional policies for segment reporting:

a) Revenue & Expenses have been identified to a segment on the basis of relationship to operating activities of the segment. Revenue and expenses which relate to enterprise as a whole & are not allocable to a segment on reasonable basis has been disclosed as "Unallowable".


Mar 31, 2013

1. Retirement Benefits

a) Company''s contribution to Provident Fund is charged to Profit & Loss Account ?:

b) The Provision for Gratuity is made on the estimated basis.

2. Related Party Disclosures

a) Related Party where control exists: NIL

b) Related Party where significant influence exists:

3. Impairment of fixed Assets

The company has reviewed as at 31" March, 2013 the future earnings of its cash generation unit in accordance with AS-28 issued by ICAI. As the carrying amount of theassets does not exceed the future recoverable amount, consequently no adjustment Is considered necessary by the management

4. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

5. In the opinion of the Board of Directors, Current Assets, Loan and Advances etc; are realizable at the value approximately at which they are stated in the Balance Sheet in the ordinary course of business.

6. Balance in various personal accounts remains unverified since confirmations from the parties not received.

7. Provision for current tax

The Provision of Income Tax has been made as per the advice of Income Tax Advocate. If any extra demand is raised by income tax authorities that is accounted for in the year of payment/ final adjustment.

8. Segment Information

The company has identified three reportable segments viz. Oil & Vanaspati, Distillery unit and Real Estate. The segment has been identified and reported taking into account unitwise, Nature of product and services. The - accounting policies adopted for segment reporting are in line with the accounting policy of the company with following additional policies for segment reporting:

a) Revenue & Expenses have been identified to an independent unit

b) Segment Assets & Segment Liabilities represent assets & liabilities in respective segment units. Investments. Tax related tax and other assets and liabilities that cannot be allocated to a segment on reasonable basis have been disclosed as "Unallocated''''.


Mar 31, 2012

NOTE 1: Disclosure relating to Share Capital

i Preferential allotment of Equity Shares in pursuant to conversion of Warrants:

The Company has allotted 8000000 Fully paid up Equity Shares of Rs. 10 each at a premium of Rs. 21 per share to the promoters and Bodies corporate other than promoters pursuant to the conversion of warrants which were originally allotted on a preferential allotment basis after seeking the permission from all the statutory authorities and duly approved in 34th annual general meeting.

ii Particulars of Share Warrants Application Money

During the previous year i.e Financial year 2010-11, the company had allotted 8000000 warrants at a price of Rs. 31 per warrant optionaly convertible into equity shares of Rs. 10 each at a premium of Rs. 21 each to the promoters and bodies corporate other than the promoters as per scheme approved in the 34th Annual General Meeting and the company received Rs. 620 lacs as application money @ 7 7.75 per warrant.


Mar 31, 2011

1. Previous year's figures have been reworked, regrouped, rearranged & reclassified wherever necessary.

2. In the opinion of the Board of Directors, Current Assets, Loans and Advances are realisable at the value approximately at which they are stated in the Balance Sheet in the ordinary course of business.

3. In the opinion of Board, there is no contingent liability.

4. Balance in various personal accounts remains unverified since confirmations from the parties are awaited.

5. The Income Tax Assessments of the Company have been completed upto assessment year 2009-10 and no tax liability is due.

6. Deferred Tax Liability:

a) Deferred Tax resulting from timings differences between book and tax profits is accounted for at the current rate of tax, to the extent that the timing difference is expected to crystallize.

b) Pursuant to Accounting Standard (AS) 22 - Accounting for taxes on income, the company has recorded a cumulative Deferred Tax Assets of Rs. 11.59 Lacs for the year which has been credited to Profit & Loss Account. The major components of deferred tax assets and liabilities as at 31st March, 2011 arising out of timing differences are as under.


Mar 31, 2010

1. Previous years figures have been reworked, regrouped, rearranged & reclassified wherever necessary.

2. In the opinion of the Board of Directors, Current Assets, Loans and Advances are realisable at the value approximately at which they are stated in the Balance Sheet in the ordinary course of business.

3. In the opinion of Board, there is no contingent liability.

4. Advance due from Companies under the same Management and concerns in which Directors are interested, are as per list.

5. Balance in various personal accounts remains unverified since confirmations from the parties are awaited.

6. The Income Tax Assessment of the Company have been completed upto assessment year 2005- 2006 and no tax liability is due.

7. Deferred Tax Liability:

a) Deferred Tax resulting from timings differences between book and tax profits is accounted for at the current rate of tax, to the extent that the timing difference is expected to crystallize.

b) Pursuant to Accounting Standard (AS) 22 Accounting for taxes on income, the company has recorded a cumulative Deferred Tax Liability of Rs. 4.24 Lacs for the year which has been debited to Profit & Loss Account. The major components of deferred tax assets and liabilities as at 31 st March, arising out of timing differences are as under:

 
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