Mar 31, 2018
Terms/Rights attached to Equity Shares
The company has only one class of equity shares having a par value of Rs.10/- per share. Each holder of equity share is entitled to one vote 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.
1 The Company is Non Deposit accepting or holding âNon Banking Financial Company1 having registration number B-05.02574 dated 09.12.2004 allotted by Reserve bank of India.
2 The Board of Directors of the Company has passed a resolution for Non - acceptance of public deposit and consequently the company has not accepted any public deposit during the year under audit.
3 The company has complied with the prudential norms relating to income recognisation, accounting standards and assets classification as applicable to it.
4 The company has appropriated 20% of profit for the year to Statutory Reserve Fund as per guidelines issued by the Reserve Bank of India for Non Banking Finance Companies in terms of Section 45(IC) of Reserve Bank of India Act, 1934.
5 The company under the provisions of Non Banking (Non Deposit Accepting or Holding) Companies Prudential Norm (Reserve Bank) Directions, 2007, provision for standard assets of Loans Given @ 0.25% of the outstanding as on 31.03.2018 has been covered .
6 In the opinion of the board of directors, all current assets, have a value on realisation in the ordinary course of business atleast equal to the amount at which they are stated.
7 Unsecured Loan due to parties are repayable on demand.
8 Based on information available with the company, there are no clients/creditors who are registered under Micro, Small and Medium Enterprises Development Act, 2006
9 There is no small scale industrial undertaking to whom the company owes amounts outstanding for more than 30 days as at 31st March,2018.
10 The Company holds 300 shares of 1000AED each in BNK Comdex DMCC, a company incorporated in UAE which represents 30% of the paid up capital of Company. Mr.Ajit Khandelwal and Mr. Sanjeev Kumar Khandelwal were Directors on the Board of the said company.The said company was liquidated and according the investment of Rs. 37.01 Lacs has been written off during the period.
11 In accordance with the revised Accounting Standard AS-15, i.e. Employee Benefits, the company has recognised the short term employee benefits accordingly paid for the services rendered by the employees for that period. Long term benefis are not payable to the employees of the company, as the company is not under any statutory obligation as well as contractual obligation.
12 Information in accordance with the requirements of Accounting Standard AS-17 on Segment Reporting.The Company has two primary business segments.
13 âThe Company has adopted Accounting Standard AS-22 âAccounting for taxes on Incomeâissued by ICAI. The Company has no deferred tax liability âarising out of timing difference as on 31.03.2018. However, Deferred Tax assets have been recognised subject to the consideration of prudenceâ in respect of DTA, on timing difference being the difference between taxable income and accounting income that originate in one period and âare capable of reversal in one or more subsequent periods
14 Statement relating to Subsidiary Company:
Name of the Subsidiary : BNK Commodities Pvt.Ltd.
Holding Companies Interest : 16,10,000 Equity Shares of Rs. 10/- each out of total Subscribed Capital of 30,00,000 Equity Shares of Rs.10/- each fully paid up
No part of Subsidiaryâs Profit/(Loss) has been dealt with in the Companyâs account
Changes,if any,in respect of Companyâs interest in the Subsidiary between the end of their financial year and that of the Company:- NIL
Changes,if any,in respect of Fixed Assets etc. of Subsidiary Company between the end of their financial year and that of the Company:- NIL
15 Previous yearâs figures have been regrouped/reclassified whereever necessary.
Mar 31, 2016
Terms/Rights attached to Equity Shares
The Company has only one class of equity shares having a par value of Rs. 101- per share. Each holder of equity share Is entitled to one vote 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.
1. The Company is Non Deposit accepting or holding ''Non Banking Financial Company1 having registration number B-05.02574 dated 09.12.2004 allotted by Reserve bank of India.
2. The Board of Directors of the Company has passed a resolution far Non-acceptance of public deposit and consequently the company has not accepted any public deposit during the year under audit.
3. The Company has complied with the prudential norms relating to income recognition, accounting standards and assets classification as applicable to it
4. The Company has appropriated 20% of profit for the year to Statutory Reserve Fund as per guidelines issued by the Reserve Bank of India for Non Banking Finance Companies in terms of Section 45(IC) of Reserve Bank of India Act, 1934.
5. The Company has sufficient cover under the provisions of Non Banking (Non Deposit Accepting or Holding) Companies Prudential Norms(Reserve Bank) Directions, 2007, provision for standard assets of Trade Receivables @0.25% of the outstanding as on 31.03.2016.
6. In the opinion of the board of directors, all current assets, have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.
7. Unsecured Loan due to parties are repayable on demand.
8. Based on information available with the company, there are no clients/creditors who are registered under Micro, Small and Medium Enterprises Development Act, 2006.
9. There is no small scale industrial undertaking to whom the company owes amounts outstanding far more than 30 days as at 31st March,2G16.
10. The Company holds 300 shares of 1000 AED each in BNK Comdex DMCC, a company incorporated in UAE which represents 30% of the paid up capital of Company. Mr.Ajit Khandelwal and Mr. Sanjeev Khandelwal are Directors on the Board of the said company.
11. In accordance with the revised Accounting Standard AS-15, i.e. Employee Benefits, the company has recognized the short-term employee benefits accordingly paid for the services rendered by the employees for that period. Long-term benefits are not payable to the employees of the company, as the company is not under any statutory obligation as well as contractual obligation.
12. The company considers its operation of NBFC activities as single segment and as such Accounting Standard AS-17 ''Segment Reporting issued by ICAI is not applicable for the company
13. Some of the liabilities and equal amount of assets have been transferred and taken over by EBlSU Pvt. Ltd for a consideration of Rs.7,26,457 which tax has duly been deducted.
14. Provisioning norms shall be applicable as prescribed in the Nan-Banking Financial (Non-Deposit Accepting or Holding) Companies Prudential Norms (Reserve Bank) Directions, 2007.
15. 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.
Mar 31, 2015
Terms/Rights attached to Equity Shares
The company has only one class of equity shares having a par value of
Rs.tO/- per share. Each holder of equity share is entitled to one vote
per share. In the event of liquidation of the company,the holders of
equity shares will be entitled ' to receive remaining assets Of We
company, after distribution of alt preferential amounts. The
distribution will be in proportion to the number of equity shares held
by the shareholders.
2 The Company is an Non Deposit accepting or holding 'Non Banking
Financial Company' having registration number B-05.02574 dated
09.12.2004 allotted by Reserve Bank of India.
3 The Board of Directors of the Company has passed a resolution for
Non - acceptance of public deposit and consequently the company has not
accepted any public deposit during the year under audit.
4 The company has complied with the prudential norms relating to
income recognisation, accounting standards and assets classification as
applicable to it.
5 The company has appropriated 20% of profit for the year to Statutory
Reserve Fund as per guidelines issued by the Reserve Bank of India fo
Non Banking Finance Companies in terms of Section 45(IC) of Reserve
Bank of India Act. 1934.
6 The company under the provisions of Non Banking (Non Deposit
Accepting or Holding) Companies Prudential Norms(Reserve Bank)
Directions, 2007 has made provision for standard assets of Trade
Receivables @ 0.25% of the outstanding as on 31.03.2015 .
7 In the opinion of the board of directors, all current assets, have a
value on realisation in the ordinary course of business atleast equal
to the amount at which they are stated.
8 Unsecured Loan due to parties are repayable on demand.
9 Based on information available with the company, there are no
clients/creditors who are registered under Micro, Small and Medium
Enterprises Development Act, 2006.
10 There is no small scale industrial undertaking to whom the company
owes amounts outstanding for more than 30 days as at 31 st March ,2015.
11 Advance Tax paid and Tax Deducted at Source are adjusted by the
company on the completion of assessment of the income by the Income Tax
Department.
12 In accordance with the revised Accounting Standard AS-15, i.e.
Employee Benefits, the company has recognised the short term employee
benefits accordingly paid for the services rendered by the employees
for that period. Long term benefis are not payable to the employees of
the company, as the company is not under any statutory obligation as
well as contractual obligation.
13 The company considers its operation of NBFC activities as single
segment and as such Accounting Standard AS-17 'Segment Reporting
issued by ICAI is not applicable for the company
14 The Company has provided for the non performing assets/loan/advances
during the year. Interst income taken on such loans Sadvances have been
reversed in compliance of guidelines issued by the Reserve Bank Of
India for non bankinq finace ComDanies.
15 The Company has adopted Accounting Standard AS-22 'Accounting for
taxes on Income'issued by ICAI. The Company has no deferred tax
liability arising out of timing difference as on 31.03.2015. However,
Deferred Tax assets have been recognised subject to the consideration
of prudence in respect of DTA, on timing difference being the
difference between taxable income and accounting income that originate
in one period and are capable of reversal in one or more subsequent
periods .
16 Reserve bank of India vide Notification No. DNBS.167/CGN(OPA)-2003
dt. March 29,2003 has directed that every NBFC shall append to its
Balance Sheet the particulars in the format as setout in the Appendix
2. to the financial statement.
As At 31.03.2015 AsAt 31.03.2014
17 Expenditure in foreign
currency during the Financial
Year ($USD2000) Rs.123378.00 Rs.0.00
18 Statement relating to Subsidiary Company:
Name of the Subsidiary: BNK Commodities Pvt.Ltd.
Holding Companies Interest : 1610000 Equity Shares of Rs. 10/-eachout
of total Subscribed Capital of 2840000 Equity Shares of Rs.10/- each
fully paid up No part of Subsidiary's Profit/(Loss) has been dealt
with in the Company's account Changes,if any,in respect of Company's
interest in the Subsidiary between the end of their financial year and
that of the Company:- NIL Changes,if any,in respect of Fixed Assets
etc. of Subsidiary Company between the end of their financial year and
that of the Company:- NIL
19 Previous year's figures have been regroped/reclassified whereever
necessary.
NOTES:
1. Provisioning norms shall be applicable as prescribed in the
Non-Banking Financial(Non-Deposit Accepting or Holding) Companies Pru-
dential Norms (Reserve Bank) Directions,2007.
2. 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.
Note : a) Previous years figures have been regrouped/rearranged
wherever considered necessary.
Mar 31, 2014
Notes to Financial Statements forming to and part of the Balance Sheet
as at 31st March,2014 and the Statement of Profit and Loss for the year
ended on that date.
Terms/Rights attached to Equity Shares
The company has only one class of equity shares having a par value of
Rs.10/- per share. Each holder of equity share is entitled to one vote
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.
1 The Company is an Non Deposit accepting ''Non Banking Finance
Company'' having registration number B-05.02574 dated 09.12.2004
allotted by Reserve bank of India.
2 The Board of Directors of the Company has passed a resolution for
Non - acceptance of public deposit and consequently the company has not
accepted any public deposit during the year under audit.
3 The company has complied with the prudential norms relating to
income recognisation, accounting standards and assets classification as
applicable to it.
4 The company has appropriated during the year to Statutory Reserve
Fund as per guidelines issued by the Reserve Bank of India for Non
Banking Finance Companies in terms of Section 45(IC) of Reserve Bank of
India Act, 1934.
5 The company under the provisions of Non Banking (Non Deposit
Accepting or Holding) Companies Prudential Norms(Reserve Bank)
Directions, 2007 has made provision for standard assets of Trade
Receivables @ 0.25% of the outstanding as on 31.03.2014 .
6 In the opinion of the board of directors, all current assets, have a
value on realisation in the ordinary course of business atleast equal
to the amount at which they are stated.
7 Unsecured Loan due to parties are repayable on demand.
8 Based on information available with the company, there are no
clients/creditors who are registered under Micro, Small and Medium
Enterprises Development Act, 2006.
9 There is no small scale industrial undertaking to whom the company
owes amounts outstanding for more than 30 days as at 31st March,2014.
10 Advance Tax paid and Tax Deducted at Source will be adjusted by the
company on the completion of assessment of the income for the
A.Y.2013-14 by the Income Tax Department.
11 In accordance with the revised Accounting Standard AS-15, i.e.
Employee Benefits, the company has recognised the short term employee
benefits accordingly paid for the services rendered by the employees
for that period. Long term benefis are not payable to the employees of
the company, as the company is not under any statutory obligation as
well as contractual obligation.
12 The company considers its operation of NBFC activities as single
segment and as such Accounting Standard AS-17 ''Segment Reporting issued
by ICAI is not applicable for the Company
13 The Company has provided for the non performing assets/loan/advances
during the year. Interest income taken on such loans &advances have
been reversed in compliance of guidelines issued by the Reserve Bank Of
India for non banking finance Companies.
14 Claims against the Company not acknowledged as debt.
15 The Company has adopted Accounting Standard AS-22 ''Accounting for
taxes on Income''issued by ICAI. The Company has no deferred tax
liability arising out of timing difference as on 31.03.2014. However,
Deferred Tax assets have been recognised subject to the consideration
of prudence in respect of DTA, on timing difference being the
difference between taxable income and accounting income that originate
in one period and are capable of reversal in one or more subsequent
periods.
16 Reserve bank of India vide Notification No. DNBS.167/CGN(OPA)-2003
dt. March 29, 2003 has directed that every NBFC shall append to its
Balance Sheet prescribed under the Companies Act, 1956, the particulars
in the format as setout in the Appendix 2.
17 Previous year''s figures have been regroped/reclassified whereever
necessary.
Mar 31, 2013
1 The Company is an Non Deposit accepting ''Non Banking Finance
Company'' having registration number B-05.02574 dated 09.12.2004
allotted by Reserve bank of India.
2 The Board of Directors of the Company has passed a resolution for
Non - acceptance of public deposit and consequently the company has not
accepted any public deposit during the year under audit.
3 The company has complied with the prudential norms relating to
income recognisation, accounting standards and assets classification as
applicable to it.
4 The company has appropriated during the year to Statutory Reserve
Fund as per guidelines issued by the Reserve Bank of India for Non
Banking Finance Companies in terms of Section 45(IC) of Reserve Bank
of India Act, 1934.
5 The company under the provisions of Non Banking (Non Deposit
Accepting or Holding) Companies Prudential Norms(Reserve Bank)
Directions, 2007 has not made provision for standard assets of Trade
Receivables @ 0.25% of the outstanding as on 31.03.2013, since the
amount of provision is not material for consideration. «16 In the
opinion of the board of directors, all current assets, have a value on
realisation in the ordinary course of business atleast equal to the
amount at which they are stated.
6 Unsecured Loan due to parties are repayable on demand.
7 Based on information available with the company, there are no
clients/creditors who are registered under Micro, Small and Medium
Enterprises Development Act, 2006.
8 There is no small scale industrial undertaking to whom the company
owes amounts outstanding for more than 30 days as at 31st March,2013.
9 Advance Tax paid and Tax Deducted at Source will be adjusted by the
company on the completion of assessment of the income for the
A.Y.2013-14 by the Income Tax Department.
10 In accordance with the revised Accounting Standard AS-15, i.e.
Employee Benefits, the company has recognised the short term employee
benefits accordingly paid for the services rendered by the employees
for that period. Long term benefis are not payable to the employees of
the company, as the company is not under any statutory obligation as
well as contractual obligation.
11 The company considers its operation of NBFC activities as single
segment and as such Accounting Standard AS-17 ''Segment Reporting''
issued by ICAI is not applicable for the company
12 Related party disclosures in accordance with the Accounting Standard
-18 issued by the Institute of Chartered Accountants of India: List of
related parties and description of relationship:
a) Key Management Personnel
Mr.Ajit Khandelwal Managing Director
b) Associate / Group Companies
1. Subsidiary Company
i) BNK Commodities Pvt. Ltd
2. Associates
i) BNK Securities Pvt. Ltd.
ii) BNK Comdex DMCC
iii) Abacus Fund Services Pvt.Ltd.
iv) Patrex Vyappar Ltd.
v) In Media Computer Services LLP
13 The Company has adopted Accounting Standard AS-22 Accounting for
taxes on Income''issued by ICAI. The Company has no deferred tax
liability arising out of timing difference as on 31.03.2013. However,
Deferred Tax assets have been recognised subject to theconsideration of
prudence in respect of DTA, on timeing differences being the difference
between taxable income and accounting income that originate in one
period and are capable of reversal in one or more subsequent periods .
14 Previous year''s figures have been regroped/reclassified whereever
necessary.
Mar 31, 2012
1 The Company is an Non Deposit accepting 'Non Banking Finance
Company' having registration number B-05.02574 dated 09.12.2004
allotted by Reserve bank of India.
2 The Board of Directors of the Company has passed a resolution for
Non - acceptance of public deposit and consequently the company has not
accepted any public deposit during the year under audit.
3 The company has complied with the prudential norms relating to
income recognisation, accounting standards and assets classification as
applicable to it.
4 The company has appropriated during the year to Statutory Reserve
Fund as per guidelines issued by the Reserve Bank of India for Non
Banking Finance Companies in terms of Section 45(IC) of Reserve Bank of
India Act, 1934.
5 The company under the provisions of Non Banking (Non Deposit
Accepting or Holding) Companies Prudential Norms(Reserve Bank)
Directions, 2007 has not made provision for standard assets of Trade
Receivables @ 0.25% of the outstanding as on 31.03.2012, since the
amount of provision is not material for consideration.
6 In the opinion of the board of directors, all current assets, loans
& advances have a value on realisation in the ordinary course of
business atleast equal to the amount at which they are stated.
7 Loan and advances given to parties are repayable on demand.
8 Based on information available with the company, there are no
clients/creditors who are registered under Micro, Small and Medium
Enterprises Development Act, 2006.
9 There is no small scale industrial undertaking to whom the company
owes amounts outstanding for more than 30 days as at 31st March,2012.
10 Advance Tax paid and Tax Deducted at Source will be adjusted by the
company on the completion of assessment of the income for the year by
the Income Tax Department.
11 In accordance with the revised Accounting Standard AS-15, i.e.
Employees Benefits, the company has recognised the short term employees
benefits accordingly paid for the services rendered by the employees
for that period. Long term benefis are not payable to the employees of
the company, as the company is not under any statutory obligation as
well as contractual obligation.
12 The company considers its operation of NBFC activities as single
segment and as such Accounting Standard AS-17 'Segment Reporting'
issued by ICAI is not applicable for the company
13 Statement Pursuant to Section 212(1) (e) of The Companies Act, 1956,
relating to Subsidiary Companies Name of the Subsidiary : BNK
Commodities Pvt. Ltd.
Holding Compainies Interest : 1050000 Equity Shares of Rs 10/- eachout
of total Subscribed Capital of 2000000 Equity Shares of Rs 10/- each
fully paid up Changes, if any, in respect of Company's interest in the
Subsidiary between the end of their financial year and that of the
Company : NIL Changes, if any, in respect of Fixed Assets etc. of
Subsidiary Company between the end of their financial year and that of
the Company : NIL
1. As defined in Paragraph 2(1) 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(Non-Deposit Accepting or Holding) Companies Pru-
dential 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.
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.
Mar 31, 2010
1. a) There are no reported Micro.Small and Medium Enterprises as
defined in the Micro, Small and Medium Enterprises Development Act,2006
to whom the company owes dues.
b) Confirmation of balances has been sought from sundry
creditors.sundry debtors, other loans and advances and in most of the
cases confirmation has been received.
2. The previous years figures have been regrouped and rearranged
wherever considered necessary. Sign in terms of our report of even
date.