Mar 31, 2016
2. Other Notes and Additional Information forming part of Financial Statements
i) In the opinion of the management, current assets, loans and advances and other receivables are approximately of the value stated, if realized in the ordinary course of business. The provisions of all known liability are ascertained.
ii) SEBI vide its Order No.WTM/RKA/ ISD/ 162 /2014 dated December 19, 2014 and another conformity Order No. WTM/RKA/ISD/31/2015 dated 20th April 2015, has restrained Company from accessing Capital Market till further notice. Since Company is into investment activities in Capital Market, in our opinion, it may affect the business and profitability of the Company but the quantum of effects cannot be commented.
iii) Financial statement of the Company indicates that the Company has accumulated losses and its Net worth has been substantially eroded, the Company has incurred net losses/net cash losses during the current year. The condition, along with other matters set forth in Note C ii), indicate the existence of a material uncertainty that cast significant doubt about the Companyâs ability to continue as a going concern. However, the financial statements of the Company have been prepared on a going concern basis for the reasons stated in the said Note. Our opinion is not modified in respect of these matters.
iv) Previous year figures have been restated to conform to the classification of the current year.
v) Balances of Sundry Debtors, Unsecured Loans, and Sundry Creditors are Loans & Advances are subject to reconciliation, since conformations have not been received from them. Necessary entries will be passed on receipt of the same if required.
vi) The company has not provided for Gratuity and Leave Encashment to Employees on accrual basis, which is not in conformity with AS-15 issued by ICAI. However, in the opinion of management the amount involved is negligible and has no impact on Statement of Profit & Loss.
Rights, Preference and Restrictions attached to Equity Shares
The company has one class of Equity shares having a par value of '' 1/- each. Each shareholder is eligible to one vote per share held.
Note : No amount is payable to Small Scale Industrial Undertakings. The Company has not received any intimation from suppliers regarding their status under the Micro, Small and Medium Enterprises Act, 2006 and hence disclosures, if any relating to amounts unpaid as at the yearend together with interest paid/payable as required under the Act cannot be furnished.
Mar 31, 2015
1. Company Information
Blue Circle Services limited (referred to as "Company") has been
incorporated on February 22, 1983 vide CIN L74140MH1983PLC029378 having
registered office at Office No. 33, Basement, Mona Shopping Centre, J.
P. Road, Near Navrang Cinema, Next To ICICI Bank, Andheri (W),
Mumbai-400 058.
2. The Company is in the business of Investments Activities in Shares &
Securities and engaged in treasury operations by way of providing
funding solutions to clients by way of providing Loans as well as to
cater its services for financial arrangements from Banks & Financing
Companies to its Clients.
3. Terms/Rights attached to Equity Shares:-
(i) The Company has only one class of Equity shares having par value of
Rs. 10/- per share.
(ii) Each holder of Equity share is entitled to one vote per share.
(iii) In the event of Liquidation of the Company , the holders of
Equity shares will be entitled to receive the realised value of the
assets of the Company, remaining after payment of all prefrential
dues(if any) .The distribution will be in proportion to the number of
equity shares held by the shareholders.
Mar 31, 2014
1. Rights, preference and restrictions attached to Equity Shares
The company has one class of Equity shares having a par value of Rs.
1/- each. Each shareholder is eligible to one vote per share held.
The Dividend proposed by the Board of Directors is subject to the
approval of the Sharesholders in the ensuring Annual General Meeting
and will be paid in Indian '.
2. Related Party Transactions
Key Management Personnel -
Sl. No. Name
1. Mr. Anil Purohit
2. Mr. Dhruva Narayan Jha
3. Ms. Chandrakala Purohit
4. Mr. Ratan Vyas
5. Ms. Renuka Purohit
6. Mr. Kunal Gupta
7. Ms. Prerna Purohit
3. Subsidiary Companies - None
1.16 Group Companies or Companies under same management -
* M/s. Prime Capital Market Ltd.
* M/s. Unisys Softwares & Holding Industries Ltd.
* M/s. Warner Multimedia Ltd.
* M/s. JMD Telefilms Industries Ltd.
4. Differed Tax
The differed tax has not been recognized in financial statement during
the year under review.
5. Contingent Liabilities & Provisions
In the view of management there are no contingent liabilities and
commitments against the company.
6. There are no Micro and Small Scale Business Enterprises, to whom
the Company owes dues, which are outstanding for more than 45 days as
at March 31,2014.This information as required to be disclosed under
Micro, Small and Medium Enterprises Development Act, 2006 has been
determined to the extent such parties have been identified on the basis
of information available with the Company.
7. Previous years' figures have been regrouped, rearranged wherever
necessary to make them comparable with those of current year.
Mar 31, 2013
1. In the opinion of the Board, Current Assets, Loans and Advances
are approximately of the value state, if realized in the ordinary
course of business. Provisions for all known liabilities are adequate
and not in excess of the amount considered necessary for the same.
Contingent Liabilities
2. Contingent Liabilities not provided for - Rs. Nil Particulars of
Director''s Remuneration (In Rupees)
3. Rs. Nil has been paid to Mr. Anil Kumar Purohit, Managing Director
towards Directors'' Remuneration for the Year (P.Y. Rs. 1,80,000/-)
Related Party Transactions
4. Key Management Personnel -
1. Mr. Anil Purohit - Managing Director
2. Mr. Dhruva Narayan Jha - Executive Director
3. Ms. Chandrakala Purohit - Vice President
Payments to Related Parties
Sum of Rs. 6,66,396/- has been paid towards Salary to to Ms. Chandrakala
Purohit, relatives of Mr. Anil Purohit.
5. There are no Micro and Small Scale Business Enterprises, to whom
the Company owes dues, which are outstanding for more than 45 days as
at March 31, 2013. This information as required to be disclosed under
Micro, Small and Medium Enterprises Development Act, 2006 has been
determined to the extent such parties have been identified on the basis
of information available with the Company.
6. Previous years'' figures have been regrouped, rearranged wherever
necessary to make them comparable with those of current year.
7.1 RELATED PARTIES DISCLOSURES (As per Accounting Standard 18)
1. Relationship
a. Wholly Owned Company - Not Any
b. Associate Company - None
c. Company under the Common Control of Promoters - Not Any
d. Key Management Personnel
1. Mr. Anil Purohit
2. Mr. Dhurva Narayan Jha
2. Transactions
There has been no related parties transactions during the year under
review.
7.2 SEGMENT REPORTING (As per Accounting Standard 17) a. The Company
has three Primary Business Segments viz.
i. Financial Activities
ii. Advisory Services
iii. Investment in Shares & Securities
iv. Sale of Software & Hardwares
b. Secondary Segment
The Company operates predomentaly within the geographical limits of
India. It has no secondary segment revenue.
7.3 DISCLOSURE FOR PAYMENT TO MICRO, SMALL & MEDIUM ENTERPRISES
The Company has not received any intimation from their suppliers
regarding their status under the Micro, Small and Medium Enterprises
Development Act, 2006 and hence disclosure, if any, relating to the
amount unpaid as at the year end together with interest paid / payable
as required under the said Act, have not been given.
7.4 IMPAIREMENT OF ASSETS
Company Management during the year have carried out technographical
evaluation for identification of Assets, if any, in accordance with
Accounting Standard 28. Based on the judgement of the Management and as
certified by Directors, no provision for impairement is found to be
necessary in respect of any Assets.
Mar 31, 2012
Provisions, Contingent Liabilities & Contingent Assets
Disclosures in terms of Accounting Standards (AS 29) Provisions,
Contingent Liabilities and Contingent Assets issued by the Institute of
Chartered Accountants of India :
1. The Company creates a provision when there is a present obligation
as a result of past event that probably requires an outflow of
resources and a reliable estimate can be made of the amount of the
obligation.
2. A disclosure for a contingent liability is made when there is a
possible obligation or present obligation that probably will not
require an outflow of resources or where reliable estimate of the
amount of the obligation cannot be made.
3. Contingent Assets are neither recognized nor disclosed. Others
4. None of the Finished Products or Raw Materials, Stores, Spares and
Components consumed or purchased during the year have been imported.
5. None of the Earnings / Expenditures is in Foreign Currency.
6. Balance of Debtors, Creditors, Deposits, Loans and Advances are
subject to confirmation.
7. In the opinion of the Board, the Current Assets, Loans & Advances
are approximately of the value stated if realized in the ordinary
course of business. The provision for depreciation and all known
liabilities are adequate and not in excess of the amounts reasonably
necessary.
8. Investments of the Company have been considered by the management
to be of a long term nature and hence they are long term investments
and are valued at cost of acquisitions.
Segment Report
9. Based on the Similarity of activities, risks and reward structure,
organization structure and internal reporting systems, the Company has
structured its operations into the following Segment :- a. Short-term
funding to its Clients as well as Deposits with Banks
a. Investments in Capital Market & Mutual Fund related activities
Notes to Accounts
10. In the opinion of the Board, Current Assets, Loans and Advances
are approximately of the value state, if realized in the ordinary
course of business. Provisions for all known liabilities are adequate
and not in excess of the amount considered necessary for the same.
Contingent Liabilities
11. Contingent Liabilities not provided for - Rs. Nil Particulars of
Director's Remuneration (In Rupees)
12. Rs. 1,80,000/- has been paid to Mr. Anil Kumar Purohit, Managing
Director towards Directors' Remuneration for the Year (P.Y. Rs.
1,80,000/-)
Related Party Transactions
13. Key Management Personnel -
1. Mr. Anil Purohit - Managing Director
2. Mr. Ashok Bothra - Executive Director
3. Mr. Dhruva Narayan Jha - Executive Director
14. There are no Micro and Small Scale Business Enterprises, to whom
the Company owes dues, which are outstanding for more than 45 days as
at March 31, 2012. This information as required to be disclosed under
Micro, Small and Medium Enterprises Development Act, 2006 has been
determined to the extent such parties have been identified on the basis
of information available with the Company.
15. Previous years' figures have been regrouped, rearranged wherever
necessary to make them comparable with those of current year.
Mar 31, 2011
1. In the opinion of the Board, Current Assets, Loans and Advances
are approximately of the value state, if realized in the ordinary
course of business. Provisions for all known liabilities are adequate
and not in excess of the amount considered necessary for the same.
Contingent Liabilities
2. Contingent Liabilities not provided for - Rs. Nil
Particulars of Director's Remuneration (In Rupees)
3. Rs. 1,80,000 has been paid to Mr. Anil Kumar Purohit, Managing
Director towards Directors' Remuneration for the Year (P.Y. Rs. Nil)
Related Party Transactions
2. Key Management Personnel -
1. Mr. Ashok Bothra
2. Mr. Dhruva Narayan Jha
3. Mr. Anil Purohit
Subsidiary & Group Companies or Companies under same management -
4. M/s. Prime Capital Market Ltd. - Company under same Management
5. The differed tax has not been recognized in financial statement
during the year under review.
6. Sundry Debtors and creditors are subject to confirmation and
reconciliation.
7. There are no Micro and Small Scale Business Enterprises, to whom
the Company owes dues, which are outstanding for more than 45 days as
at March 31, 2011. This information as required to be disclosed under
Micro, Small and Medium Enterprises Development Act, 2006 has been
determined to the extent such parties have been identified on the basis
of information available with the Company.
8. Previous years' figures have been regrouped, rearranged wherever
necessary to make them comparable with those of current year.
Mar 31, 2010
1. In the opinion of the Board, Current Assets, Loans and Advances
are approximately of the value state, if realized in the ordinary
course of business. Provisions for all known liabilities are adequate
and not in excess of the amount considered necessary for the same.
Contingent Liabilities
2. Contingent Liabilities not provided for - Rs. Nil
Particulars of Directors Remuneration (In Rupees)
3. Rs. Nil has been paid to Directors as Directors Remuneration for
the Year (P.Y. Rs. Nil)
Related Party Transactions
4. Key Management Personnel -
1. Mr. Biren Shah
2. Mr. Ashok Bothra
3. Mr. Darshan Bhagat
4. Mr. Dhruva Narayan Jha
5. Mr. Anil Purohit
6. Mr. Raj Kumar Mall
7. Mr. Chandresh N. Shah
Subsidiary & Group Companies or Companies under same management -
1. M/s. Yash Shelters Limited
2. M/s. Prime Capital Market Ltd.
Differed Tax on Income
5. The differed tax has not been recognized in financial statement,
as there is- no reasonable certainty of Future Taxable Income.
6. Sundry Debtors and creditors are subject to confirmation and
reconciliation.
7. There are no Micro and Small Scale Business Enterprises, to whom
the Company owes dues, which are outstanding for more than 45 days as
at March 31, 2010. This information as required to be disclosed under
Micro, Small and Medium Enterprises Development Act, 2006 has been
determined to the extent such parties have been identified on the basis
of information available with the Company.
8. Previous years figures have been regrouped, rearranged wherever
necessary to make them comparable with those of current year.