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Notes to Accounts of Blue Chip India Ltd.

Mar 31, 2014

(A) In the opinion of the Management,the Sundry Debtors,Loan & Advances and Current Assets have a value on realisation in the ordinary course of business atleast equal to the amount at which they are stated in the Balance Sheet.

(B) Earning & Expenditure in foreign currency

(C) Certain balances of Sundry Debtors,Sundry Creditors and Loans & Advances are subjects to confirmation

(D) Since the company has operated only in one segment, i.e. Trading Shares & Securities , provision relating to segment wise Report Report as per AS- 17 are not applicable

(E) Related Party Disclosures

List of Related parties with whom transactions have been taken place during the year.

(a) Key Management Personnel, Directors Relatives

1 Arihant Jain Managing Director

2 Pranab Chakarboty Director

3 Amiya Kumar Basu Director

4 Subhabrata Talukdar Director

(b) Enterprises over which above person has signification influence: NIL

(c) Transaction with the persons mentioned in(A) above:

Remuneration NIL

(d) Transaction with the persons mentioned in (A) above :-

Purchase of Shares during the year - Sale of Shares during the Year -

(F) Deferred Tax

In view of no vertual certainty of future profits to set off losses, no provision for deferred tax has been made as required.

(G) Information Pursuant to paragraph 9BB Non Banking Financial Companies Prudential Norms (Reserve Bank) Direction 1998 has been given in Annexure -II

(H) Retirement Benefits :

Provision for retirement benefits has been made as no employee has put in the qualifying period of service for entitled of the benefit.

(I) Earning per Share :

The Company reports basic and diluted earnings per equity share in accordance with Accounting Standard - 20 Earning per Share issued by the Institute of Chartered Accountants of India.

(J) Figures in brackets represent previous year figures.

(K) Schedule "A" TO "R" annexed here with are forming part ofthe Balance Sheet and the Profit & Loss Account.


Mar 31, 2013

(A) In the opinion of the Management, the Sundry Debtors, Loan & Advances and Current Assets have a value on realization in the ordinary course of business at least equal to the amount at which they are stated in the Balance Sheet.

(B) Earning & Expenditure in foreign currency.

(C) Certain balances of Sundry Debtors, Sundry Creditors and Loans & Advances are subjects to confirmation.

(D) Since the company has operated only in one segment, i.e. Trading in Shares & Securities, provision relating to segment wise Report as per AS-17 are not applicable.

(E) Related Party Disclosures :

List of Related Parties with whom transactions have been taken place during the year:

(a) Key Management Personnel, Directors Relatives:

1) ArihantJain Managing Director

2) Pranab Chakraborty Director

3) Amiya Kumar Basu Director

4) Subhabrata Talukdar Director

(b) Enterprises over which above person has signification infulence :

NIL

(c) Transaction with the persons mentioned in(A) above :

Remuneration NIL

(F) Deferred Tax:

In view of no virtual certainty of future profits to set off losses, no provision for deferred tax has been made as required.

(G) Information Pursuant to paragraph 9BB Non Banking Financial Companies Prudential Norms (Reserve Bank) Direction, 1998 has been given in Annexure - II.

(H) Retirement Benefits:

Provision for retirement benefits has been made as no employee has put in the qualifying period of service for entitled of the benefit.

(I) Figures in brackets represent previous year figures.

(J) Schedule "A" TO "R" annexed here with are forming part of the Balance Sheet and the Profit & Loss Account.

** As per Accounting Standard of ICAI (Please see Note 3).

1. As defined in paragraph 2(1 )(xii) of Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 1998.

2. Provisioning norms shall be applicable as prescribed in Non-Banking Financial (Non-Deposit Accepting or Holding) 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 (4) above.


Mar 31, 2012

(A) In the opinion of the Management.the Sundry Debtors,Loan & Advances and Current Assets have a value on realisation in the ordinary course of business atleast equal to the amount at which they are stated in the Balance Sheet.

(B) Earning & Expenditure in foreign currency.

(C) Certain balances of Sundry Debtors,Sundry Creditors and Loans & Advances are subjects to confirmation.

(D) The company has not made any provision for interest amonnting to Rs. 41.50 lakhs (Rs.41.50 Lacs) in respect of losn tsken from Rec during the year.

(E) Since the company has operated only in one segment, I.e. Trading in Shares & Securities, provision relating to segment wise Report as per AS 17 are not applicable.

(F) Deferred Tax:

In view of no vertual certainty of future profits to set off losses, no provision for deferred tax has been made as required.

(G) The company has made no provision for interest accured amounting to Rs. 35.54 lacs (Previous Year Rs. 35.54) as the matter is Subjudice before Hon'ble Recovery Tribunal of amount payable to Rural Electification.

(H) Information pursuant to Part IV Schedule VI to the companies Act, 1956 has been given in Annexure 1.

(I) Information Pursuant to paragraph 9BB Non Banking Financial Companies Prudential Norms (Reserve Bank) Direction, 1998 has been given in Annexure II.

(J) Retirement Benefits:

Provision for retirement benefits has been made as no employee has put in the qualifying period of service for entitled of the benefit.

(K) Figures in brackets represent previous year figures.

(L) Schedule "A" TO "R" annexed here with are forming part of the Balance Sheet and the Profit & Loss Account.

(M) Retirement Benefits:

Provision for retirement benefits has been made as no employee has put in the qualifying period of service for entitled of the benefit.

(N) Figures in brackets represent previous year figures.

(O) Schedule "A" TO "R" annexed here with are forming part of the Balance Sheet and the Profit & Loss Account.


Mar 31, 2010

A) Estimated. amount of Capital Contracts remaining to be executed (Advance paid) NIL NIL

b) Earning/Expenditure in Foreign Currency NIL NIL

c) Since the company has operated in only one segment I.e. Fund Based Financial Activities during the year, like Granting Loan & Advances and Trading In Shares & Securities, the provision relating to segment wise reports are not applicable,

d) The Company has not mode provision tor Non-performing assets amounting to Rs.1.44,96,122.23 as per Prudential Norms Issued by Reserve Bank of India.

e) Related Party Disclosures:

List of Related Parties with whom transactions have taken place and Relationships:

(A) key Managemant Personnel & Rolatives:

Name of the Related Party Nature of Relationship

1) Arihant Jain Managing Director

2] Santosh Kumar Jain Director

3) Amtya Kumar Basu Director

4) Subhabrata Talukdar Director

f) In terms of AS-17 of the ICAI, Segment Information has not been given as the entire business activities of investing and finance considered as one business segment.

g) Information pursuant to Part IV of Schedule VI to the Companies Act, 1956 has been given in Annexure-1.

h) Information pursuant to paragraph 9BB of Non-Banking Financial Companies Prudential Norma (Reserve Bank) Directions, 1998 has been given In Annexure- II.

i) Previous years figures have been regrouped/rearranged wherever necessary.

j) Schedule "A" to "P" annexed to herewith are forming part of the Balance Sheet and Profit 5 Loss Account.



 
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