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Notes to Accounts of BNK Capital Markets Ltd.

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.

 
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