Mar 31, 2015
1. Corporate Information
Bhilwara Tex-Fin Limited ("the Company") was incorporated on November
16, 1994 and obtained the certificate for Commencement of Business on
November 22, 1994 from Registrar of Companies under the provision of
the Companies Act, 1956. The main objects of the company are to provide
the fund based financial services etc. During the year under review,
the Company continued in business of investment & financing.
2. Contingent Liability is Nil. (Previous Year Nil).
3. Company does not have any employee eligible for gratuity.
4. Debit balances of debtors are subjected to confirmation and
reconciliation form respective parties. The final adjustment, if any,
in the account of parties shall be known only after confirmation /
reconciliation, the amount of which could not be ascertained.
5. Remuneration and perquisites to the directors is Rs. Nil.
6. There are certain parties to whom advances in the nature of loans
have been given by the company. As per management, principal and
interest thereon is recoverable at a later date as per stipulations
made with respective parties. As such, interest income is accounted for
on yearly basis, but their recovery is deferred to a later date.
7. Segment Reporting
The Company operates in one segment only namely Finance, Investment and
related consultancy. Therefore, information about segment reporting in
line with AS-17 of ICAI has not been given.
8. CIF Value of Import of Raw Materials Components, Spare parts &
Capital goods: Nil
a) Expenditure in Foreign Currency : Nil
b) Remittance in Foreign Currency : Nil
c) Earning in Foreign currency : Nil
(CIF Value in Exports)
9. Prudential Norms of the Reserve bank of India (RBI)
The Prudential Norms of the RBI require the company to derecognize
certain income and make provisions for nonperforming assets.
In compliance with Guidelines prescribed by Reserve Bank of India for
NBFCs, the Company has
a) Provided 0.25% of Standard Assets Amounting to Rs 13,97,150/-
(Previous year Rs. Nil).
b) Appropriated 20% of the Net Profit Rs.2,12,954/- (Previous year
Rs.1,19,601/- ) to Special Reserve fund.
10. Short Term Loans and Advance include Rs NIL due from a Director.
11. The company has no amounts due to suppliers under The Micro Small
and Medium Enterprises Development Act, 2006, [MSMED Act] as at 31st
March, 2015.
12. There are no amounts due and outstanding to be credited to
Investor Education & Protection Fund as at 31st March, 2015.
13. Previous year's figures have been regrouped and rearranged
wherever necessary.
Mar 31, 2014
1. Corporate Information :-
Bhilwara Tex-Fin Limited ("the Company") was incorporated on November
16, 1994 and obtained the certificate for Commencement of Business on
November 22, 1994 from Registrar of Companies under the provision of
the Companies Act, 1956. The main objects of the company are to provide
the fund based financial services etc. During the year under review,
the Company continued in business of investment & financing.
2.1 Remuneration and perquisites to the directors is Rs. Nil.
2.2 There are certain parties to whom advances in the nature of loans
have been given by the company. As per management, principal and
interest thereon is recoverable at a later date as per stipulations
made with respective parties. As such, interest income is accounted for
on yearly basis, but their recovery is deferred to a later date.
2.3 There is no related party transaction as in accordance with
Accounting Standard-18 issued by the institute of Chartered Accountants
of India.
2.4 Segment Reporting
The Company operates in one segment only namely Finance, Investment and
related consultancy. Therefore, information about segment reporting in
line with AS-17 of ICAI has not been given.
2.5 Previous years figures have been regrouped and rearranged wherever
necessary.
2.6 Additional information pursuant to the provision of paragraphs 3,
4C & 4D of part II of schedule VI of the Companies Act, 1956.
2.7 CIF Value of Import of Raw Materials Components, Spare parts &
Capital goods: Nil
a) Expenditure in Foreign Currency : Nil
b) Remittance in Foreign Currency : Nil
c) Earning in Foreign currency : Nil (CIF Value in Exports)
Notes:
1) As defined in Paragraph 2(1) (xii) of the Non-Banking Financial
Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998
as amended from time to time.
2) Provisioning norms shall be applicable as prescribed in the
Non-Banking Financial Companies Prudential Norms (Reserve Bank)
Directions, 2007 as amended from time to time.
3) All Accounting Standards and Guidance Notes issued by ICAI are
applicable including for valuation of investments and other assets as
also assets acquired in satisfaction of debt. However, market value in
respect of quoted investments and break up/fair value/NAV in respect of
unquoted investments should be disclosed irrespective of whether they
are classified as long term or current in column (4) above.
2.8 None of the employees of the company was in receipt of
remuneration exceeding Rs.5,00,000/- per month where employed for part
of the year or Rs.60,00,000/- per annum where employed throughout the
year.
Mar 31, 2013
1. Corporate Information
Bhilwara Tex-Fin Limited ("the Company") was incorporated on
November 16, 1994 and obtained the certificate for Commencement of
Business on November 22, 1994 from Registrar of Companies under the
provision of the Companies Act, 1956. The main objects of the company
are to provide the fund based financial services etc. During the year
under review, the Company continued in business of investment &
financing,
2) As defined in Paragraph 2(1) (xii) of the Non-Banking Financial
Companies Acceptance of Public - Deposits (Reserve Bank) Directions,
1998 as amended from time to time.
Provisioning norms shall be uppUmtbh1 as put section in
Prudential Norms (Reserve Bank) Directions, 2007 as amended from time
to time.
3) All Accounting Standards and Guidance Notes issued by 1CAI are
applicable including for valuation of investments and other assets as
also assets acquired in satisfaction of debt. However, market value in
respect of quoted investments and break up/fair valm/NA V in respect of
''unquoted investments should be disclosed irrespective of whether they
are classified as long term or current in column above.
4) None of the employees of the company was in receipt of
remuneration exceeding Rs,5,00,000/- per month where employed for part
of the year or Rs.60,00,000/- per annum where employed throughout the
year,
Mar 31, 2012
1. General :-
Bhilwara Tex-Fin Limited ("the Company") was incorporated on November
16, 1994 and obtained the certificate for Commencement of Business on
November 22, 1994 from Registrar of Companies under the provision of
the Companies Act, 1956. The main objects of the company are to provide
the fund based financial services etc. During the year under review,
the Company engaged in business of investment & Financing.
2.1 Previous years figures have been regrouped and rearranged wherever
necessary.
2.2 Additional information pursuant to the provision of paragraphs 3,
4C & 4D of part II of schedule VI of the Companies Act, 1956.
2.3 CIF Value of Import of Raw Materials Components, Spare parts &
Capital goods: Nil
c) Expenditure in Foreign Currency : Nil
d) Remittance in Foreign Currency : Nil
e) Earning in Foreign currency : Nil
(CIF Value in Exports)
Notes:
1) As defined in Paragraph 2(1) (xii) of the Non-Banking Financial
Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998
as amended from time to time.
2) Provisioning norms shall be applicable as prescribed in the
Non-Banking Financial Companies Prudential Norms (Reserve Bank)
Directions, 2007 as amended from time to time.
3) All Accounting Standards and Guidance Notes issued by ICAI are
applicable including for valuation of investments and other assets as
also assets acquired in satisfaction of debt. However, market value in
respect of quoted investments and break up/fair value/NAV in respect of
unquoted investments should be disclosed irrespective of whether they
are classified as long term or current in column (4) above.
2.4 None of the employees of the company was in receipt of
remuneration exceeding Rs. 5,00,000/- per month where employed for part
of the year or Rs. 60,00,000/- per annum where employed throughout the
year.
Mar 31, 2010
1. Foreign Currency converted into Indian Rupee is Nil.
2. Contingent Liability is Nil. (Previous Year Nil).
3. a) No provision for gratuity has been made as no employee has put
in the qualifying period of service for entitlement of this benefit.
b) No provision for bonus has been made, as the company is not covered
under the payment of Bonus Act.
4. Debit balances of debtors are subjected to confirmation and
reconciliation form respective parties. The final adjustment, if any,
in the account of parties shall be known only after confirmation /
reconciliation, the amount of which could not be ascertained.
5. In compliance of Sec. 45 IC of the Reserve Bank of India Act, 1934,
the company has transferred a sum of Rs. Nil to Special reserve Fund.
The reserve fund so created is available for utilization for specified
purposes as may be prescribed by the Reserve Bank from time to time.
6. Remuneration and perquisites to the directors is Rs. Nil.
7. There are certain parties to whom advances in the nature of loans
have been given by the company. As per management, principal and
interest thereon is recoverable at a later date as per stipulations
made with respective parties. As such, interest income is accounted for
on yearly basis, but their recovery is deferred to a later date.
8. There is no related party transaction as in accordance with
Accounting Standard 18 issued by the institute of Chartered Accountants
of India.
9. Segment Reporting
The Company operates in one segment only namely Finance & Investment
and related consultancy. Therefore, information about segment reporting
in line with AS - 17 of ICAI has not been given.
10. Previous years figures have been regrouped and rearranged wherever
necessary.
11. Additional information pursuant to the provision of paragraphs 3,
4C & 4D of part II of schedule VI of the companies Act, 1956.
Notes:
1) As defined in Paragraph 2(1) (xii) of the Non-Banking Financial
Companies Acceptance of Public Deposits (Reserve Bank) Directions,
1998.
2) Provisioning norms shall be applicable as prescribed in the
Non-Banking Financial Companies Prudential Norms (Reserve Bank)
Directions, 2007.
3) All Accounting Standards and Guidance Notes issued by ICAI are
applicable including for valuation of investments and other assets as
also assets acquired in satisfaction of debt. However, market value in
respect of quoted investments and break up/fair value/NAV in respect of
unquoted investments should be disclosed irrespective of whether they
are classified as long term or current in column (4) above.
12. None of the employees of the company was in receipt of
remuneration exceeding Rs. 2,00,000/- per month where employed for part
of the year or Rs.24,00,000/- p.a. where employed throughout the year.
13. The Requirements of Accounting Standard (AS29) - "Provisions,
Contingent Liabilities and Contingent Assets" have been compiled while
compiling the accounts.
14. Balance Sheet abstract & general business profile of the company
pursuant to Part IV of Schedule VI of Companies Act, 1956 are given in
the annexure attached to the notes to accounts
a) Generic Name of Three Principal Product/Services of Company (As per
Monetary terms): NA
15. Schedule A to K Annexed herewith forms integral part of Balance
Sheet and Profit & Loss Accounts.