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Notes to Accounts of Bharat Bhushan Finance & Commodity Brokers Ltd.

Mar 31, 2015

1. CONTINGENT LIABILITIES

AMOUNT(Rs)

AS AT AS AT 31st MARCH 2015 31st MARCH 2014 (Rs) (Rs.)

a. Claims against the company/ disputed Liability not acknowledged 9006058 9006058 as debt (Net)

b. Liability in respect of partly paid up 85000 85000 Equity Shares

2. In the opinion of Management, there is no separate reportable segment in terms of Accounting Standard AS - 17 "Segment Reporting".

3. Quantitative information in respect of shares/debentures/units etc. is as follows:-

4. Related Party disclosures (As Identified by the Management and relied upon by Auditors)

5. List of related parties with whom transaction have been taken place and relationship:

A. Where control exists/Key Management Personnel alongwith their relatives Sh. Vijay Bhushan

Mrs. Nisha Ahuja

Mrs. Sant Kumari Agarwal Director & Mother of (a)

Sh. Jogesh Ahuja Director & Husband of (b)

B. Enterprises under common control/enterprises where person described in "A" above is able to exercise significant influence.

- Bharat Bhushan Equity Traders Ltd.

- Bharat Bhushan & Co.

6. Transactions during the year with Related Parties.

2.19 Schedule as required in terms of Paragraph 13 of Non Banking Financial (Non Deposit Accepting or Holding ) Companies Prudential Norms (Reserve Bank) Directions ,2007 as Superseeded by "Non -Systemically Important Non-Banking Financial (Non- Deposit Accepting or Holding )Companies Prudential Norms(Reserve Bank) Directions,2015.

7 Minimum lease payments recognized in the statement of profit & loss account during the period ended 31st March 2015 is Rs 24000/- (Previous year Rs 24000/-)

8. Provision for diminution in the value of investments is charged to Profit & Loss Account and shown correspondingly under the head

"Provisions" in the Balance Sheet without showing it as deduction from the value of investment. This is being done in compliance with Non Banking Financial (Non Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank Directions, 2007) a s

Superseeded by "Non -Systemically Important Non-Banking Financial (Non- Deposit Accepting or Holding )Companies Prudential Norms(Reserve Bank) Directions,2015.


Mar 31, 2014

1. CONTINGENT LIABILITIES:- AMOUNT (Rs.)

AS AT AS AT 31ST MARCH 2014 31ST MARCH 2013 (Rs.) (Rs.)

a. Claims against the company/ disputed Liability not acknowledged as debt (Net) 9006058 9006058

b. Liability in respect of 80000 80000 partly paid up Equity Shares

2. In the opinion of Management, there is no separate reportable segment in terms of Accounting Standard AS - 17 "Segment Reporting".

3. Minimum lease payments recognized in the statement of profit & loss account during the period ended 31st March 2014 is Rs. 24000/- (Previous year Rs. 24000/-)

4. Provision for diminution in the value of investments is charged to Profit & Loss Account and shown correspondingly under the head "Provisions" in the Balance Sheet without showing it as deduction from the value of investment. This is being done in compliance with Non Banking Financial (Non Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank Directions, 2007)


Mar 31, 2013

1.1 In the opinion of Management, there is no separate reportable segment in terms of Accounting Standard AS – 17 "Segment Reporting”.

1.2 Related Party disclosures (As Identified by the Management and relied upon by Auditors) 2.18.1. List of related parties with whom transaction have been taken place and relationship:

A. Where control exists/Key Management Personnel alongwith their relatives Sh. Vijay Bhushan

Mrs. Nisha Ahuja

- Mrs. Sant Kumari Agarwal Director & Mother of (a)

- Sh. Jogesh Ahuja Director & Husband of (b)

B. Enterprises under common control/enterprises where person described in "A” above is able to exercise significant influence.

- Bharat Bhushan Equity Traders Ltd.

- Bharat Bhushan & Co.

1.3 Minimum lease payments recognized in the statement of profit & loss account during the period ended 31st March 2013 is Rs. 24000/-

(Previous year Rs. 24000/-)

1.4 Provision for diminution in the value of investments is charged to Profit & Loss Account and shown correspondingly under the head "Provisions” in the Balance Sheet without showing it as deduction from the value of investment. This is being done in compliance with Non Banking Financial (Non Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank Directions, 2007)


Mar 31, 2012

1.1 Operating Lease (Disclosure pursuant to Accounting Standard AS-19 for Leases)

1.2 Minumum lease payments recognized in the statement of profit & loss account during the period ended 31st March 2012 is Rs. 24000/ - (Previous year Rs. 24000/-)

1.3 Provision for diminution in the value of investments is charged to Profit & Loss Account and shown correspondingly under the head 'Provisions' in the Balance Sheet without showing it as deduction from the value of investment. This is being done in compliance with Non Banking Financial (Non Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank Directions, 2007)

1.4 Auditor's Remuneration includes:-

ANNEXURE 'I'

Referred in Note No. 2.17 of the Note '2' to the accounts:

Related Party disclosures (As Identified by the Management and relied upon by Auditors)

As per Accounting Standard - 18 " Related Party disclosure' issued by the Institute of Chartered Accountants of India, the disclosure of transactions with the related party as defined in the Accounting Standard are given below:

1 A. Where control exists/Key Management Personnel alongwith their relatives

Sh. Vijay Bhushan

Mrs. Nisha Ahuja

- Mrs. Sant Kumari Agarwal Director & Mother of (a)

- Sh. Jogesh Ahuja Director & Husband of (b)

Enterprises under common control/enterprises where person described in "A" above is able to exercise significant influence.

- Bharat Bhushan Equity Traders Ltd.

- Bharat Bhushan & Co. (No transaction during the year)


Mar 31, 2010

1. There was no employee(s) in receipt of remuneration aggregating more than Rs.24,00,000/- p.a. or Rs.2,00,000/- or more p.m. where employed for a part of the period (Previous year Rs. Nil).

2. CONTINGENT LIABILITIES:-

S. No. Particulars As at 31st March, 2010 As at 31 st March, 2009 (In Rs.) (In Rs.)

a. Claims against the company/disputed

Liability not acknowledged as debt(Net) 9006058 9006058

b. Liability in respect of partly paid up 80000 80000 Equity Shares.

3. Unclaimed Dividend payable account are yet to be reconciled and therefore the same has been taken as per books.

4. Provision for diminution in the value of investments is charged to Profit & Loss Account and shown correspondingly under the head "Provisions" in the Balance Sheet without showing it as deduction from the value of investment. This is being done in compliance with Non Banking Financial (Non Deposit Accepting or Holding JCompanies Prudential Norms (Reserve Bank Directions, 2007).

5. In the opinion of the management, current assets, Loans and advances are approximately of the value stated, if realized, in the ordinary course of the business.

6. (a) Brokerage / Service charges of Rs. 277923/- (Previous Year Rs. 412498/-) represents brokerage earned from Commodity Trading (NCDEX and MCX) .

(b) Other Income includes Rs.1482418/- (Previous year Rs. 1484288/-) being amount recovered on account of reimbursement of expenses.

7. Disclosure as required by Accounting Standard - AS-18 " Related Party disclosure" are as per annexure I

8. Disclosure as required by Para 13 of Non Banking Financial (Non Deposit Accepting on Holding) Companies Prudential Norms (Reserve Bank) Directions 2007 are as per annexure II.

9. Previous year figures have been rearranged/regrouped wherever considered necessary.

10. All figures have been rounded off to the nearest rupee.

11. Additional information Pursuant to Part IV of Schedule VI to the Companies Act 1956, is attached herewith.

12. Annexure I to X form an integral part of the Accounts.

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