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Notes to Accounts of Bhagyashree Leasing & Finance Ltd.

Mar 31, 2015

1. Nature of Operations

Bhagyashree Leasing & Finance Limited ("the Company") was incorporated on August 8, 1994. The Company is primarily engaged in the business of Trading/ Investment in Shares/Securities.

a) Segment Reporting

The Company is engaged in the business of Trading Investments and allied Non Banking Financial Companies Activities and there are no separate and reportable segments as per Accounting Standard 17 "Segment Reporting".

b) Related Party Transaction

Related Party Disclosure, as required by Accounting Standard - 18, "Related Party Disclosures" are given below.

i) Key Management Personnel

Mr. Ashok H Palesha Director

Mr. Manoj P Shah Director

ii) Parties where Control Exists NIL

iii) Associates Companies/firms NIL over which the key managerial persons /relatives have Significant influence or control.

As a matter of prudence, the company has not recognized deferred tax assets on current, year losses in the financial statements. Deferred tax assets are recognized only if there is virtual certainty supported by convincing evidence that such deferred tax assets can be realized against future taxable profits.

d) Directors' Remuneration

The Company has not paid any remuneration or commission to its Directors during the current year. Accordingly, computation of net profit in accordance with Section 349 of the Companies Act, 1956 has not been computed.

e) Dues to the Micro, Small and Medium Enterprises

There are no Micro, Small or Medium Enterprises to whom amounts are outstanding for more than 45 days as at March 31,2015.

As at March 31, 2015, no supplier has intimated the Company about its status as Micro or Small enterprises or its registration with the appropriate authority under 'The Micro, Small and Medium Enterprises Development Act, 2006'.

f) The accounts of certain debtors, loans and advances given/received, creditors are, however, subject to confirmations and reconciliations, if any.

g) Payment To Auditors

Auditors remuneration for the year 2014-15 is Rs.11,236 /-

h) Previous Year Comparatives

Previous years have been regrouped or reclassified, where necessary, to conform to the current year's presentation.

i) In the opinion of Board of Directors Current Assets, Loans & advances have the value at which they were stated in the Balance Sheet, if realized in the ordinary course of business.

j) Additional Information are required under para 3 and 4 of part II of Schedule III of the Companies Act, 1956 has been given to the extent it is applicable.

k) Schedules 3 to 9 form an integral part of Profit & Loss Account and Balance Sheet as at 31st March, 2015.


Mar 31, 2014

1. Nature of Operations

Bhagyashree Leasing & Finance Limited ("the Company") was incorporated on August 8, 1994. The Company is primarily engaged in the business of Trading/ Investment in Shares/Securities.

a) Segment Reporting

The Company is engaged in the business of Trading Investments and allied Non Banking Financial Companies Activities and there are no separate and reportable segments as per Accounting Standard 17 "Segment Reporting".

As a matter of prudence, the company has recognized deferred tax asset on current year losses in the financial statements. Deferred tax assets are recognized only if there is virtual certainty supported by convincing evidence that such deferred tax asset can be realized against future taxable profits.

d) Directors'' Remuneration

The Company has not paid any remuneration or commission to its Directors during the current year. Accordingly, computation of net profit in accordance with Section 349 of the Companies Act, 1956 has not been computed.

e) Dues to the Micro, Small and Medium Enterprises

There are no Micro, Small or Medium Enterprises to whom amounts are outstanding for more than 45 days as at March 31, 2014.

As at March 31, 2014, no supplier has intimated the Company about its status as Micro or Small enterprises or its registration with the appropriate authority under ''The Micro, Small and Medium Enterprises Development Act, 2006''.

f) The accounts of certain debtors, loans and advances given/received, creditors are, however, subject to confirmations and reconciliations, if any.

g) Payment To Auditors

Auditors remuneration for the year 2013-14 is Rs. 11236/-

h) Previous Year Comparatives

Previous years have been regrouped or reclassified, where necessary, to confirm to the current year''s presentation.

i) In the opinion of Board of Directors Current Assets, Loans & advances have the value at which they were stated in the Balance Sheet, if realized in the ordinary course of business.

j) Additional Information required under para 3 and 4 of part II of Schedule III of the Companies Act, 1956 has been given to the extent it is applicable. k) Schedules 3 to 9 form an integral part of Profit & Loss Account and Balance Sheet as at 31st March, 2014.


Mar 31, 2013

1. Nature of Operations

Bhagyashree Leasing & Finance Limited ("the Company") was incorporated on August 8, 1994. The Company is primarily engaged in the business of Trading/ Investment in Shares/Securities.

a) Segment Reporting

The Company is engaged in the business of Trading Investments and allied Non Banking Financial Companies Activities and there are no separate and reportable segments as per Accounting Standard 17 "Segment Reporting".

b) Related Party Transaction

Related Party Disclosure, as required by Accounting Standard - 18, "Related Party Disclosures" are given below. i) Key Management Personnel

Mr. Rajas Jain Director

Mr. Ameya Jain. Director

ii) Parties where Control Exists NIL

iii) Associates Companies/firms NIL over which the key managerial persons /relatives have Significant influence or control.

As a matter of prudence, the company has not recognized deferred tax assets on current year losses in the financial statements. Deferred tax assets are recognised only if there is virtual certainty supported by convincing evidence that such deferred tax assets can be realized against future taxable profits.

c) Directors'' Remuneration

The Company has not paid any remuneration or commission to its Directors during the current year. Accordingly, computation of net profit in accordance with Section 349 of the Companies Act, 1956 has not been computed.

d) Dues to the Micro, Small and Medium Enterprises

There are no Micro, Small or Medium Enterprises to whom amounts are outstanding for more than 45 days as at March 31,2013.

As at March 31, 2013, no supplier has intimated the Company about its status as Micro or Small enterprises or its registration with the appropriate authority under ''The Micro, Small and Medium Enterprises Development Act, 2006''.

e) The accounts of certain debtors, loans and advances given/received, creditors are, however, subject to confirmations and reconciliations, if any.

f) Payment Auditors

Auditors remuneration for the year 2013-13is Rs. 11236/-

g) Previous Year Comparatives

Previous years have been regrouped or reclassified, where necessary, to conform to the current year''s presentation.

h) In the opinion of Board of Directors Current Assets, Loans & advances have the value at which they were stated in the Balance Sheet, if realized in the ordinary course of business.

i) Additional Information are required under para 3 and 4 of part II of Schedule III of the Companies Act, 1956 has been given to the extent it is applicable.

j) Schedules 1 to 9 form an integral part of Profit & Loss Account and Balance Sheet as at 31 st March, 2013.00


Mar 31, 2012

1. Nature of Operations

Bhagyashree Leasing & Finance Limited ("the Company") was incorporated on August 8, 1994. The Company is primarily engaged in the business of Trading/ Investment in Shares/Securities.

a) Segment Reporting

The Company is engaged in the business of Trading Investments and allied Non Banking Financial Companies Activities and there are no separate and reportable segments as per Accounting Standard 17 "Segment Reporting".

b) Related Party Transaction

Related Party Disclosure, as required by Accounting Standard -18, "Related Party Disclosures" are given below. i) Key Management Personnel

Mr. Rajas Jain Director

Mr. Ameya Jain. Director

ii) Parties where Control Exists NIL

iii) Associates Companies/firms NIL

over which the key managerial persons /relatives have Significant influence or control.

c) Directors' Remuneration

The Company has not paid any remuneration or commission to its Directors during the current year. Accordingly, computation of net profit in accordance with Section 349 of the Companies Act, 1956 has not been computed.

d) Dues to the Micro, Small and Medium Enterprises

There are no Micro, Small or Medium Enterprises to whom amounts are outstanding for more than 45 days as at March 31,2012.

As at March 31, 2012, no supplier has intimated the Company abouf its status as Micro or Small enterprises or its registration with the appropriate authority under 'The Micro, Small and Medium Enterprises Development Act, 2006'.

e) The accounts of certain debtors, loans and advances given/received, creditors are, however, subject to confirmations and reconciliations, if any.

f) Previous Year Comparatives

Previous years have been regrouped or reclassified, where necessary, to conform to the current year's presentation.

g) In the opinion of Board of Directors Current Assets, Loans & advances have the value at which they were stated in the Balance Sheet, if realized in the ordinary course of business.

h) Additional Information are required under para 3 and 4 of part II of Schedule III of the Companies Act, 1956 has been given to the extent it is applicable.

i) Schedules 1 to 9 form an integral part of Profit & Loss Account and Balance Sheet as at 31st March, 2012.

j) Payment Auditors

Auditors remuneration for the year 2011 -12is Rs. 11236/-


Mar 31, 2010

1. Nature of Operations

Bhagyashree Leasing & Finance Limited ("the Company") was incorporated on August 8,1994. The Company is primarily engaged in the business of Trading/Investment in Shares/Securities.

a) Segment Reporting

The Company is engaged in the business of Trading Investments and allied Non Banking Financial Companies Activities and there are no separate and reportable segments as per Accounting Standard 17 "Segment Reporting".

b) Related Party Transaction

Related Party Disclosure, as required by Accounting Standard - 18,

"Related Party Disclosures" are given below.

i) Key Management Personnel

Mr. Manish Jain Director

Mr. Rajas Jain Director

Mr. Ameya Jain Director

ii) Parties where Control Exists NIL

iii) Associates Companies/firms NIL

over which the key managerial persons /relatives have Significant influence or control.

As a matter of prudence, the company has not recognised deferred tax assets on current year losses in the financial statements.

d) DirectorsRemuneration

The Company has not paid any remuneration or commission to its Directors during the current year. Accordingly, computation of net profit in accordance with Section 349 of the Companies Act, 1956 has not been computed.

e) Dues to the Micro, Small and Medium Enterprises

There are no Micro, Small or Medium Enterprises to whom amounts are outstanding for more than 45 days as at March 31,2010. As at March 31, 2010, no supplier has intimated the Company about its status as Micro or Small enterprises or its registration with the appropriate authority under The Micro, Small and Medium Enterprises DevelopmentAct, 2006.

f) The accounts of certain debtors, loans and advances given/received, creditors are, however, subject to confirmations and reconciliations, if any.

a) Previous Year Comparatives

Previous years have been regrouped or reclassified, where necessary, to conform to the current years presentation.

b) In the opinion of Board of Directors Current Assets, Loans & advances have the value at which they were stated in the Balance Sheet, if realized in the ordinary course of business.

c) Additional Information are required under para 3 and 4 of part II of Schedule III of the Companies Act, 1956 has been given to the extent it is applicable.

d) Schedules I to X form an integral part of Profit & Loss Account and Balance Sheet as at 31st March, 2010.

e) Payment Auditors

Auditors remuneration for the year 2009-10, is Rs. 11030/-

 
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