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Notes to Accounts of Blue Circle Services Ltd.

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 Company’s 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.

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