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Notes to Accounts of Bharatiya Global Infomedia Ltd.

Mar 31, 2015

1 : Terms/rights attached to equity shares

The company has only one class of equity shares having a par value of Rs. 10 per share. In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. Estimated amount of contract remaining to be executed on capital account and not provided for NIL (Previous Year Rs NIL/-)

3. Contingent Liabilities not provided for :

a. Guarantees given by the company Rs. 60.28 Lacs (Pr. Year 59.88 Lacs)

b. Claims against the company not acknowledge as debts Rs 600 lacs (Pr.Year 600 Lacs)

4. In the absence of Balance confirmations, Sundry Debtors, Sundry Creditors, Deposits and the parties to whom the advances are given are subject to reconciliation and such are as per books of accounts only. Adjustment thereto having an impact of revenue nature, if any, will be made during the period in which the same are fully reconciled.

5. In the opinion of the Board, the value of Current assets, Loans & Advances if realised in the ordinary course of the business shall not be less than the amount at which those are stated in the Balance Sheet.

6. Business segment-wise Report (as per the reporting requirements of AS-17) (Rs. In Lacs)

7. Disclosure as required by Accounting Standard (AS-18) "Related Party Disclosures" issued by the Institute of Chartered Accountants of India is as follows:

a) Name of Related Parties & description of relationship:

(i) Related Parties where control exists: M/s BGIL Films & Technologies Ltd. M/s Merit Exports Pvt. Ltd - subsidiary company

(ii) Key Management Personnel: Rakesh Bhhatia - Chairman Arti Bhatia- w/o Mr. Rakesh Bhatia Gaurav Bhatia- S/o Mr. Rakesh Bhatia Sanjeev Mittal - Director Kumar Pushkar-Company Secretary Bharti Partha Saha - CFO Sanjay Kapoor - Director Arti Jain - Director

8. The Company has paid Rs. 19,68,000/- to the Directors [P.Y. Rs. 21,93,000/-] as Directors Remuneration.

9. Initial Public Offer (IPO)

The utilization schedule of proceeds from IPO till 31.03.2015 is as under: (Rs. In Lacs)

SEBI INVESTIGATION

The Adjudicating officer of SEBI has passed its final order No. EAD-2/DSR/RG/99-102/2014 dated 17th April 2014 and imposed a total penalty of Rs. 6 Crores (Rs. 5 Crores u/s 15HA and Rs. 1 Crore u/s 15 HB of the SEBI Act) on the company. The Company has appealed before the Hon'ble Securities Appellate Tribunal against these Orders.

10. The Company has initiated legal proceedings for the recovery of inter-corporate deposits amounting to Rs. 5.50 crores along with interest and are hopeful of recovery of same. However, no provision has been made in the books of account.

11. As per the Income Tax Website, there are Income Tax demands pending against the company but as per the company's records the same are not payable and the company is making efforts to reconcile the same with the Income Tax records.

12. Earnings per share (EPS) -

The Earning per share has been calculated as specified in Accounting Standard 20 on "Earning per Share" issued by the Institute of Chartered Accountants of India, the related disclosures are as below:

13. No provision for interest on loan taken from LIC against Keyman Insurance Policy has been made till date and the same will be adjusted with the final maturity value.

14. No provision has been made for diminution in the value of investment as in the opinion of management, the diminution in the value of quoted investments amounting to Rs. 0.62 lacs is temporary in nature.

15. Lease Terms

16. Interest accrued on Bank Cash Credit Account as at the end of the year was debited by Bank and was credited to the said account as on 31st March 2015. Thus the balance in secured Loans is shown inclusive of interest Accrued thereon.

17. Rs. 1,56,75,384 has been considered as retained earning effect impact of change in depreciation on the basis of useful life of the assets as per schedule II of companies Act 2013.

18. All known liabilities have been accounted for in books of account.

19. Previous year figures have been regrouped/ rearranged wherever considered necessary to make them comparable with the current year figures


Mar 31, 2014

1 Estimated amount of contract remaining to be executed on capital account and not provided for NIL (Previous Year Rs. 1,93,99000/-)

2 Contingent Liabilities not provided for :

a. Guarantees given by the company Rs.59.88lacs(Pr. Year 66.03 Lacs)

b. Claims against the company not acknowledge as debts Rs.600 lacs (Pr.Year Nil)

3 In the absence of Balance confirmations, Sundry Debtors, Sundry Creditors, Deposits and the parties to whom the advances are given are subject to reconciliation and such are as per books of accounts only. Adjustment thereto having an impact of revenue nature, if any, will be made during the period in which the same are fully reconciled.

4 In the opinion of the Board, the value of Current assets, Loans & Advances if realised in the ordinary course of the business shall not be less than the amount at which those are stated in the Balance Sheet.

SEBI INVESTIGATION

The Adjudicating officer of SEBI has passed its final order No. EAD-2/DSR/RG/ 99-102 /2014 dated 17th April 2014 and imposed a total penalty of Rs.6 Crores ( Rs.5 Crores u/s 15HA and Rs.1 Crore u/s 15 HBof the SEBI Act ) on the company. The Company plans to approach the Hon''ble Securities Appellate Tribunal against the said order. Provision for this penalty will be made only after the case is decided by the higher authorities.

5 The Company has initiated legal proceedings for the recovery of inter-corporate deposits amounting to Rs.5.60 crores along with interest and are hopeful of recovery of same. However, no provision has been made in the books of account.

6 As per the Income Tax Website, there are Income Tax demands pending against the company but as per the company''s records the same are not payable and the company is making efforts to reconcile the same with the Income Tax records.

7 In accordance with the requirements of section 217 (2A) of the Companies Act, 1956, the number of employees who were :

(a) Employed throughout the period at remuneration which in aggregate was not less than Rs.60,00,000/- per annum (including Directors) - Nil.

(b) Employed for part of period at remuneration which in aggregate was not less than Rs.5,00,000/- per month (including Directors) - Nil

8 No provision for interest on loan taken from LIC against Keyman Insurance Policy has been madetill date and the same will be adjusted with the final maturity value.

9 No provision has been made for diminution in value of Investments as in the opinion of management, the diminution in the value of quoted investments amounting to Rs.0.39 lacs is temporary in nature.

10 SEBI has debarred the company from trading in capital market through its demat account or otherwise vide its order no. WTM/PS/IVD/47/12/2011 dated 28th December 2011. During the year, Hawk Fincap (P) Ltd has sold 460719 equity shares of BGIL Films & Technologies Limited which were in their custody pursuant to order of Hon''ble High Court dated 25th October 2010. The company has prudently accounted for the sale of those shares in its books.

11 Interest accrued on Bank Cash Credit Account as at the end of the year was debited by the Bank and was credited to the said account as on 31st March 2014. Thus the balance in Secured Loans is shown inclusive of Interest Accrued thereon.

12 All known liabilities have been accounted for in books of account.

13 Previous year figures have been regrouped/ rearranged wherever considered necessary to make them comparable with the current year figures.


Jun 30, 2013

1 The Company has initiated legal proceedings for the recovery of inter-corporate deposits amounting to Rs. 6 crores along with interest and are hopeful of recovery of same. However, no provision has been made in the books of account.

2 As per the Income Tax Website, there are Income Tax demands pending against the company but as per the company''s records the same are not payable and the company is making efforts to reconcile the same with the Income Tax records.

3 The basic earnings per share is computed by dividing the net profit after tax for the year by the weighted average number of equity shares outstanding during the year. The net profit attributable to the equity shareholders is Rs. 1,01,67,763/- and weighted average number of equity shares is 15843111 (previous year 15843111) for the purpose of basic EPS.

4 In accordance with the requirements of section 217 (2A) of the Companies Act, 1956, the number of employees who were :

(a) Employed through out the period at remuneration which in aggregate was not less than Rs. 60,00,000/- per annum (including Directors) - Nil

(b) Employed for part of period at remuneration which in aggregate was not less than Rs. 5,00,000/- per month (including Directors) - Nil

5 Previous year figures have been regrouped/ rearranged wherever considered necessary to make them comparable with the current year figures.

6 All known liabilities have been accounted for in books of account.


Mar 31, 2012

Note 1.1 : Terms / rights attached to equity shares

The company has only one class of equity shares having a par value of Rs 10 per share. In the event of liquidation of the company, the holders of equity shares will be entitled to received remaining assets of the company. after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

2. Estimated amount of contract remaining to be executed on capital account and not provided (or Rs 5.29.18.750/- (Previous Year Rs Nil)

3. Contingent Liabilities not provided for:

a. Guarantees given by the company Rs Nil (Pr. Year Nil)

b. Claims against the company not acknowledge as debts Rs Nil (Pr.Year Nil)

4. In the absence of Balance confirmations. Sundry Debtors. Sundry Creditors. Deposits and the parties to whom the advances are given are subject to reconciliation and such ate as per books of accounts only Adjustment thereto having an impact of revenue nature, if any. will be made during the period in which the same arc fully reconciled

5. In the opinion of the Board, the value of Current assets. Loans & Advances if realized In the ordinary course of the business shall not be less than the amount at which those are stated in the Balance Sheet

6. The Company has paid Rs. 26.70.000/- to the Directions (P Y. 23.40.000/-)as Directors Remuneration

7. The basic earnings per share is computed by dividing the net profit after tax for the year by the weighted average number of equity shares outstanding during the year. The net profit attributable to the equity shareholders is Rs. 1.16.80.553'- and weighted average number of equity shares is 15843111 (previous year 9123111) for the purpose of basic EPS

8. Initial Public Offer (IPO)

The company has raised a sum of Rs. 5510 40 lacs (inducing share premium of Rs 4838.40 lacs) by way of public issues during the year. The proceed from the Initial Public Offer (IPO) of equity shares have been utilized as follows after taking note of the deviation in utilization of IPO proceeds which were approved by the Shareholders of the company in the Extra Ordinary General Meeting through Postal Ballot for vary and of revise the terms and conditions of the documents/contracts and also the utilization of the IPO in the Prospectus

The funds in Inter Corporate Deposits have been temporarily deployed as an interim measure to earn interest pending deployment towards object of the issue. The Balance in the Escrow account is as per directions of SEBI order dated 28th of December 2011.

SEBI INVESTIGATION:

The Company is under process of investigation as per Securable Exchange Board of India (SEBI) ad interim exported order WTM/PS/IVD/47/12/2011 dated 28th December. 2011. Detailed submissions have been made by the company and have also appeared in personal hearing in front of Whole Time Members.

9. In accordance with the requirements of section 217 (2A) of the Companies Act. 1956. the number of employees who were :

(a) Employed through out the period at remunerator which in aggregate was not less than Rs. 60.00.000/- per annum (inducing Directors) - Nil.

(b) Employed for part of period at remuneration which in aggregate was not less than Rs. 5,00,000/- per month (inducing Directors) - Nil

10. The company had obtained business loans From Banks/ Financial institutions, the repayment of some of which are not regular. An amount of Rs. 7.92 lacs is overdue as on 31.03.2012.

11. The Service Tax which was payable as on 31.03.2012 along with interest has since been paid in full on 31.07.2012.

12. Previous year figures have been regrouped/rearranged wherever considered necessary to make them comparable with the current year figures as per Revised Schedule VI of the Companies Act. 1956.

13. All known liabilities have been accounted for in books of account.


Mar 31, 2011

1. Estimated amount of contract remaining to be executed on capital account and not provided for Rs Nil (Previous Year Rs Nil)

2. Contingent Liabilities not provided for:

a. Guarantees given by the company : Rs. Nil (Pr. Year Nil)

b. Claims against the company not acknowledge as debts: Rs. Nil/-(Pr. Year262500)

3. Deferred Tax as on 31.03.2011 comprises of Deferred Tax Liability amounting Rs. 34273091/- (P.Y. 25811971/-) which has been calculated on account of accumulated losses and difference in Tax depreciation.

4. There was no person employed by the company who was in receipt of remuneration, which in aggregate was not less than Rs. 24 lac per annum, if employed through-out the year or Rs. 2 lac p. m. if employed for a part of the year.

5. The company had obtained business/vehicle loans from Banks/ Financial Institutions, the repayment of some of which is not regular. An amount of Rs. 11.94 lacs is overdue as on 31.03.2011.

6. The Complete Service Tax which was payable as on 31.03.2011 along with interest has since been paid in full on 25.05.2011.

7. The Tax Deducted at Source (TDS), which was payable as on 31.03.2011 has since been paid in full on 24.05.2011.

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

9. All known liabilities have been accounted for in books of account.

 
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