Mar 31, 2016
1. Previous year''s figures
The Previous year''s figures have been re-casted/restated, wherever necessary to confirm to current year classification.
2. Share Capital
The Company has at present, only one class of shares i.e. Equity Shares.
3. Fixed Assets
During the year, the Company has purchased net fixed assets of Rs. 1.01 Lakhs (Previous Year: Purchase of net fixed assets of Rs. 0.53 Lakhs) from its gross block.
4. Loans and Advances
Advances recoverable in cash, kind or value to be received are primarily towards prepayments for value to be received. Other advances represent deposit for office premises, telephone deposit, advance to contractors, advance for the purchase of commercial premises and deposit to the local authorities such as BMC, MSEB etc. Advances also include loans to Subsidiary and Joint Ventures.
The Audit Fees is provided on annual basis.
6. Foreign Exchange
Foreign currency transactions during the year recorded at the exchange rate prevailing on the date of the transaction.
7. Current Tax
The Company has Provided the current tax of Rs. 39,91,266 as per the Income tax law for the current year (Previous Year Tax: Rs. 21,54,350).
8. Earning/Expenditure in Foreign Currency
Earning: Rs. Nil (Previous Year: Rs. Nil)
Expenditure: Rs. Nil (Previous Year: Rs. Nil)
9. Additional Disclosures in Pursuant to Schedule VI Part II
10. Related Party Disclosures
Related Party Disclosure as required by AS-18 "Related Party Disclosure" are given below:
11. Individuals owing directly or indirectly an interest in the voting power that gives them control or significant influence: Name of the Party Nature of Relationship
Kirit R. Kanakiya - Director
12. Key Management Personnel
Name of the Party Nature of Relationship
Kirit R. Kanakiya - Director
Disha R. Devrukhkar - Whole-Time Director
13. Other Related Parties and Nature of Relationship
14. Nature of Relationship: Associate Concerns
15. Name of the Parties
16. Beachcraft Investment & Trading Co. Pvt. Ltd. 17. Blackmore Investment & Trading Co. Pvt. Ltd.
19. Consistent Packagers Pvt. Ltd. 20. Pleasant Packaging Co. Pvt. Ltd.
21. Poornima Commercial Pvt. Ltd. 22. Pravara Commercial Pvt. Ltd.
23. Relaxed Packagers Pvt. Ltd. 24. Orbit Plastics Private Limited
25. Timberhill Engineers Pvt. Ltd. 26. KKR Commercial Brokerage, LLC
27. Total Bizcon Solution Limited 28. Western Bizcon Services Ltd.
29. Contact Consultancy Services Pvt. Ltd. 30. Stock Watch Securities Pvt. Ltd.
31. Stock Watch 32. Supreme Compliment Sdn. Bhd.
33. BSEL Molek Sdn. Bhd. 34. Jitovest Sdn. Bhd.
35. Splendid Advisory Sdn. Bhd. 36. BSEL Resources Sdn. Bhd.
37. Subsidiaries and Joint Ventures
38. Wholly Owned Subsidiary/Sub-Subsidiary
BSEL Infrastructure Realty FZE
39. Sub-Subsidiaries
BSEL Waterfront Sdn. Bhd.
BSEL Infrastructure Realty Sdn. Bhd.
40. Joint Ventures
Goa Tech Parks Pvt. Ltd.
41. Deferred tax
During the year company has generated the profit but being losses in previous year and company management was not hopeful to generate the profit in near future hence company has not provided the DTA in previous year and all the net deferred tax liability has been transferred to profit and loss account.
42. Consolidated Financial Statements
The consolidated financial statements are published as per the Accounting Standard 21 - Consolidated Financial Statements issued by Institute of Chartered Accountants of India.
43. Dues to Small Scale Industrial Undertakings
Due to Micro, Small, Medium Enterprises as defined under the MSMED Act, 2006 is Rs. Nil (Previous Year: Rs. Nil). This information has been determined to the extent such parties have been identified on the basis of information available with the company. This has been relied upon by the auditors.
44. There are no amounts due and outstanding to be credited to Investor Education Protection Fund.
45. Employees Benefits
46. Defined Contribution Plans
The Group''s Contribution paid/payable during the year towards Provident Fund is charged in the Profit and Loss Account every year
47. Defined Benefit Plan
During the current Financial year Provisions of Rs. 63,749/- (Previous Year: Rs. 93,375/-) is made towards Gratuity liability as on 31.03.2016 under the payment of Gratuity Act, 1972.
48. Provision for Doubtful Debts
There is no doubtful amount receivable from the parties; therefore no provision has been made towards Doubtful Debts in the books of accounts. Further the management has opinion that advance given to the wholly owned subsidiary will be recovered in normal course & business once the recovery comes in Dubai market. The management is of the opinion that amount due from wholly owned subsidiary is not doubtful hence no provision made in books of account. The loan given to wholly owned subsidiary is for the purpose of business operation. The nature of transfer represent interest free loan provided to its wholly owned subsidiary will not fined repayment schedule.
49. Prior Period Items
There are no prior period items in the Company for the current financial year.
50. There is no employee drawing Salary of Rs. 2 Lakhs per month or more.
51. Contingent liability which can be reasonably ascertained are provided for if it is in the opinion of the Company the future outcome of the same may be detrimental to the Company.
52. All the Loans and Advances (Assets) and Current Assets and Current Liabilities are subject to confirmation from the respective parties.
53. There is no Unpaid Dividend Account balance as on 31st March, 2016.
54. Other additional information pursuant to Schedule III Part II of the Companies Act, 2013 are not applicable to the Company.
Mar 31, 2015
1. Previous year's figures
The Previous year's figures have been recasted / restated, wherever
necessary to confirm to current year classification.
2. Share Capital
The Company has at present, only one class of shares i.e. Equity
Shares.
3. Fixed Assets
During the year, the Company has purchased net fixed assets of Rs.0.53
Lacs (Previous Year: - Sale of net fixed assets of Rs.4.44 Lacs) from
its gross block.
4. Loans and Advances
Advances recoverable in cash, kind or value to be received are
primarily towards prepayments for value to be received. Other advances
represent deposit for office premises, telephone deposit, advance to
contractors, advance for the purchase of commercial premises and
deposit to the local authorities such as BMC, MSEB etc. Advances also
include loans to Subsidiary and Joint Ventures.
5. Foreign Exchange
Foreign currency transactions during the year recorded at the exchange
rate prevailing on the date of the transaction.
6. Current Tax
The Company has Provided the current tax of Rs.21,54,350 as per the
Income tax law for the current year (Previous Year Tax:- Rs.13,36,640).
7. Earning/Expenditure in Foreign Currency
Earning: - Rs. Nil (Previous Year :- Rs. Nil)
Expenditure: -Rs. Nil (Previous Year :-Rs.Nil)
8. Related Party Disclosures
Related Party Disclosure as required by AS-18 "Related Party
Disclosure" are given below:
i. Individuals owing directly or indirectly an interest in the voting
power that gives them control or significant influence:
Name of the Party Nature of Relationship
Kirit R. Kanakiya - Director
ii. Key Management Personnel
Name of the Party Nature of Relationship
Kirit R. Kanakiya - Director
Disha R Devrukhkar - Whole-Time Director
iii. Other Related Parties and Nature of Relationship
(a) Nature of Relationship: - Associate Concerns
(b) Name of the Parties
a. Beachcraft Investment & Trading Co. Pvt. Ltd.,
b. Blackmore Investment & Trading Co. Pvt. Ltd.,
c. Consisent Packagers Pvt. Ltd.,
d. Pleasant Packaging Co. Pvt. Ltd.,
e. Poornima Commercial Pvt. Ltd.,
f. Pravara Commercial Pvt. Ltd.,
g. Relaxed Packagers Pvt. Ltd.,
h. Orbit Plastics Private Limited
i. Timberhill Engineers Pvt. Ltd.,
j. KKR Commercial Brokerage, LLC
k. Total Bizcon Solution Limited
l. Western Bizcon Services Ltd.
m. Contact Consultancy Services Pvt. Ltd.,
n. Stock Watch Securities Pvt. Ltd.,
o. Stock Watch
p. Supreme Compliment Sdn. Bhd.
q. BSEL Molek Sdn. Bhd.
r. Jitovest Sdn. Bhd.
s. Splendid Advisory Sdn.Bhd.
t. BSEL Resources Sdn. Bhd.
iv. Subsidiaries and Joint Ventures
a. Wholly Owned Subsidiary/Sub-Subsidiary
BSEL Infrastructure Realty FZE
b. Sub-Subsidairies
BSEL Waterfront Sdn. Bhd.
BSEL Infrastructure Realty Sdn. Bhd.
c. Joint Ventures
Goa Tech Parks Pvt. Ltd.
9. Earnings Per Share
The earnings considered in ascertaining the Company's earnings per
share comprise of the net profit after tax.
10. Deferred tax
During the year company has generated the profit but being losses in
previous year and company management was not hopeful to generate the
profit in near future hence company has not provided the DTA in
previous year and all the net deferred tax liability has been
transferred to profit and loss account. .
11. Consolidated Financial Statements
The consolidated financial statements are published as per the
Accounting Standard 21 - Consolidated Financial Statements issued by
Institute of Chartered Accountants of India.
12. Dues to Small Scale Industrial Undertakings
Due to Micro, Small, Medium Enterprises as defined under the MSMED Act,
2006 is Rs. Nil (Previous Year Rs. Nil). This information has been
determined to the extent such parties have been identified on the basis
of information available with the company. This has been relied upon by
the auditors.
13. There are no amounts due and outstanding to be credited to
Investor Education Protection Fund.
14. Employees Benefits
a) Defined Contribution Plans
The Group's Contribution paid/ payable during the year towards
Provident Fund is charged in the Profit and Loss Account every year
b) Defined Benefit Plan
During the current Financial year Provisions of Rs.93,375/- (Previous
Year Rs.43,317/-) is made towards Gratuity liability as on 31.03.2015
under the payment of Gratuity Act,1972.
15. Provision for Doubtful Debts
There is no doubtful amount receivable from the parties; therefore no
provision has been made towards Doubtful Debts in the books of
accounts. Further the management has opinion that advance given to the
wholly owned subsidiary will be recovered in normal course & business
once the recovery comes in Dubai market. The management is of the
opinion that amount due from wholly owned subsidiary is not doubtful
hence no provision made in books of account. The loan given to wholly
owned subsidiary is for the purpose of business operation. The nature
of transfer represent interest free loan provided to its wholly owned
subsidiary will not fined repayment schedule.
16. Prior Period Items
Prior period items having material impact on the financial affairs of
the company have been disclosed.
17. There is no employee drawing Salary of Rs. 2 Lacs per month or
more.
18. Contingent liability which can be reasonably ascertained are
provided for if it is in the opinion of the Company the future outcome
of the same may be detrimental to the Company.
19. All the Loans and Advances (Assets) and Current Assets and Current
Liabilities are subject to confirmation from the respective parties.
20. Balance of Unpaid Dividend Account as at 31st March, 2015 is
Rs.4,21,117/-. Other additional information pursuant to Schedule III
Part II of the Companies Act, 2013 are not applicable to the Company.
Mar 31, 2014
1. Previous year''s figures
The Previous year''s figures have been recasted / restated, wherever
necessary to confirm to current year classification.
2. Share Capital
The Company has at present, only one class of shares i.e. Equity
Shares.
3. Fixed Assets
During the year, the Company has sold net fixed assets of Rs. 4.44 Lacs
(Previous Year: - Purchase of net fixed assets of Rs.35.79 Lacs ) from
its gross block.
4. Loans and Advances
Advances recoverable in cash, kind or value to be received are
primarily towards prepayments for value to be received. Other advances
represent deposit for office premises, telephone deposit, advance to
contractors, advance for the purchase of commercial premises and
deposit to the local authorities such as BMC, MSEB etc. Advances also
include loans to Subsidiary and Joint Ventures.
6. Foreign Exchange
Foreign currency transactions during the year recorded at the exchange
rate prevailing on the date of the transaction.
7. Current Tax
The Company has Provided the current tax of Rs.1,336,640 as per the
Income tax law for the current year (Previous Year Tax:- Rs.623,519 ).
8. Earning/Expenditure in Foreign Currency
Earning: - Rs. Nil (Previous Year :- Rs. Nil) Expenditure: -Rs. Nil
(Previous Year :-Rs.163,944)
10. Related Party Disclosures
Related Party Disclosure as required by AS-18 "Related Party
Disclosure" are given below:
1 Individuals owing directly or indirectly an interest in the voting
power that gives them control or significant influence:
Name of the Party Nature of Relationship
Kirit R. Kanakiya - Director
2. Key Management Personnel
Name of the Party Nature of Relationship
Kirit R. Kanakiya - Director
Disha R Devrukhkar - Whole-Time Director
3. Other Related Parties and Nature of Relationship
(a) Nature of Relationship: - Associate Concerns
(b) Name of the Parties
a. Beachcraft Investment & Trading Co. Pvt. Ltd., b. Blackmore
Investment & Trading Co. Pvt. Ltd.,
c. Consisent Packagers Pvt. Ltd., d. Pleasant Packaging Co. Pvt.
Ltd.,
e. Poornima Commercial Pvt. Ltd., f. Pravara Commercial Pvt. Ltd.,
g. Relaxed Packagers Pvt. Ltd., h. Orbit Plastics Private Limited
i. Timberhill Engineers Pvt. Ltd., j. KKR Commercial Brokerage, LLC
k. Total Bizcon Solution Limited l. Western Bizcon Services Ltd.
m. Contact Consultancy Services Pvt. Ltd., n. Stock Watch Securities
Pvt. Ltd.,
o. Stock Watch p. Supreme Compliment Sdn. Bhd.
q. BSEL Molek Sdn. Bhd. r. Jitovest Sdn. Bhd.
s. Splendid Advisory Sdn.Bhd. t. BSEL Resources Sdn. Bhd.
4. Subsidiaries and Joint Ventures
a. Wholly Owned Subsidiary/Sub-Subsidiary BSEL Infrastructure Realty
FZE
b. Sub-Subsidairies
BSEL Waterfront Sdn. Bhd.
BSEL Infrastructure Realty Sdn. Bhd.
c. Joint Ventures
Goa Tech Parks Pvt. Ltd.
14. Consolidated Financial Statements
The consolidated financial statements are published as per the
Accounting Standard 21 Â Consolidated Financial Statements issued by
Institute of Chartered Accountants of India.
15. Dues to Small Scale Industrial Undertakings
Due to Micro, Small, Medium Enterprises as defined under the MSMED Act,
2006 is Rs. Nil (Previous Year Rs. Nil). This information has been
determined to the extent such parties have been identified on the basis
of information available with the company. This has been relied upon by
the auditors.
16. There are no amounts due and outstanding to be credited to
Investor Education Protection Fund.
17. Employees Benefits
a) Defined Contribution Plans
The Group''s Contribution paid/ payable during the year towards
Provident Fund is charged in the Profit and Loss Account every year.
b) Defined Benefit Plan
During the current Financial year Provisions of Rs.43,317/- (Previous
Year Rs.94,972/-) is made towards Gratuity liability as on 31.03.2014
under the payment of Gratuity Act,1972.
18. Provision for Doubtful Debts
There is no doubtful amount receivable from the parties; therefore no
provision has been made towards Doubtful Debts in the books of
accounts. Further the management has opinion that advance given to the
wholly owned subsidiary will be recovered in normal course & business
once the recovery comes in Dubai market. The management is of the
opinion that amount due from wholly owned subsidiary is not doubtful
hence no provision made in books of account. The loan given to wholly
owned subsidiary is for the purpose of business operation. The nature
of transfer represent interest free loan provided to its wholly owned
subsidiary will not fined repayment schedule.
19. Prior Period Items
Prior period items having material impact on the financial affairs of
the company have been disclosed. 20. There is no employee drawing
Salary of Rs. 2 Lacs per month or more.
21. Contingent liability which can be reasonably ascertained are
provided for if it is in the opinion of the Company the future outcome
of the same may be detrimental to the Company.
22. All the Loans and Advances (Assets) and Current Assets and Current
Liabilities are subject to confirmation from the respective parties.
23. Balance of Unpaid Dividend Account as at 31st March, 2014 is
Rs.433,196/-.
24. Other additional information pursuant to Schedule VI Part II of
the Companies Act, 1956 are not applicable to the Company.
Mar 31, 2013
1. Previous year''s figures
The Previous year''s figures have been recasted / restated, wherever
necessary to confirm to current year classification.
2. Share Capital
The Company has at present, only one class of shares i.e. Equity
Shares.
3. Fixed Assets
During the year, the Company has purchased net fixed assets of Rs. 35.79
Lacs (Previous Year: - Purchase of net fixed assets of Rs.57.31 Lacs )
from its gross block.
4. Loans and Advances
Advances recoverable in cash, kind or value to be received are
primarily towards prepayments for value to be received. Other advances
represent deposit for office premises, telephone deposit, advance to
contractors, advance for the purchase of commercial premises and
deposit to the local authorities such as NMMC- Fire Brigade / MSEB etc.
Advances also include loans to Subsidiary and Joint Ventures.
5. Foreign Exchange
Foreign currency transactions during the year recorded at the exchange
rate prevailing on the date of the transaction.
6. Current Tax
The Company has Provided the current tax of Rs.623, 519 as per the Income
tax law for the financial year ended 31-03-2013 (Previous Year Tax:-
Nil ).
7. Earning/Expenditure in Foreign Currency Earning : - Rs. Nil (Previous
Year :- Rs. Nil) Expenditure : - Rs. 1,63,944. (Previous Year :-Rs.1,408)
8. Related Party Disclosures
Related Party Disclosure as required by AS-18 "Related Party
Disclosure" are given below :
1 Individuals owing directly or indirectly an interest in the voting
power that gives them control or significant influence: Name of the
Party Nature of Relationship
Kirit R. Kanakiya  Director
2. Key Management Personnel
Name of the Party Nature of Relationship
Kirit R. Kanakiya  Director
Disha R Devrukhkar  Whole-Time Director
9. Deferred tax
During the year company has generated the profit but being losses in
previous year and company management was not hopeful to generate the
profit in near future hence company has not provided the DTA in
previous year and all the net deferred tax liability has been
transferred to profit and loss account. Hence there is no DTL available
with the company to adjust the current year DTA. Hence no DTA provision
is made in books of account.
10. Consolidated Financial Statements
The consolidated financial statements are published as per the
Accounting Standard 21 Â Consolidated Financial Statements issued by
Institute of Chartered Accountants of India.
11. Dues to Small Scale Industrial Undertakings
Due to Micro, Small, Medium Enterprises as defined under the MSMED Act,
2006 is Rs. Nil (Previous Year Rs. Nil). This information has been
determined to the extent such parties have been identified on the basis
of information available with the company. This has been relied upon by
the auditors.
12. There are no amounts due and outstanding to be credited to
Investor Education Protection Fund.
13. Employees Benefits
a) Defined Contribution Plans
The Group''s Contribution paid/ payable during the year towards
Provident Fund is charged in the Profit and Loss Account every year
b) Defined Benefit Plan
During the current Financial year Provisions of Rs.94,972/- (Previous
Year Rs.71,653/-) is made towards Gratuity liability as on 31.03.2013
under the payment of Gratuity Act,1972.
14. Provision for Doubtful Debts
There is no doubtful amount receivable from the parties; therefore no
provision has been made towards Doubtful Debts in the books of
accounts. Further the management has opinion that advance given to the
wholly owned subsidiary will be recovered in normal course & business
once the recovery comes in Dubai market. The management is of the
opinion that amount due from wholly owned subsidiary is not doubtful
hence no provision made in books of account. The loan given to wholly
owned subsidiary is for the purpose of business operation. The nature
of transfer represent interest free loan provided to its wholly owned
subsidiary will not fined repayment schedule.
15. Prior Period Items
Prior period items having material impact on the financial affairs of
the company have been disclosed.
16. There is no employee drawing Salary of Rs. 2 Lacs per month or more.
17. Contingent liability which can be reasonably ascertained are
provided for if it is in the opinion of the Company the future outcome
of the same may be detrimental to the Company.
18. All the Loans and Advances (Assets) and Current Assets and Current
Liabilities are subject to confirmation from the respective parties.
19. Balance of Unpaid Dividend Account as at 31st March, 2013 is
Rs.1,017,963/-.
20. Other additional information pursuant to Schedule VI Part II of
the Companies Act, 1956 are not applicable to the Company.
Mar 31, 2012
1. Previous year's figures
The Previous year's figures have been recasted / restated, wherever
necessary to confirm to current year classification.
2. Share Capital
The Company has at present, only one class of shares i.e. Equity
Shares.
3. Fixed Assets
During the year, the Company has purchased net fixed assets of Rs. 61.17
Lacs (Previous Year :- Purchase of net fixed assets of Rs.17.76 Lacs )
from its gross block.
4. Loans and Advances
Advances recoverable in cash, kind or value to be received are
primarily towards prepayments for value to be received. Other advances
represent deposit for office premises, telephone deposit, advance to
contractors, advance for the purchase of commercial premises and
deposit to the local authorities such as NMMC- Fire Brigade / MSEB etc.
Advances also include loans to Subsidiary and Joint Ventures.
5. Foreign Exchange
Foreign currency transactions during the year recorded at the exchange
rate prevailing on the date of the transaction.
6. Current Tax
The Company has no current tax Charge due to loss incurred by the
company for the financial year ended on 31st March, 2012. (Previous
Year Tax:- Nil ).
7. Earning/Expenditure in Foreign Currency
Earning: - Rs. Nil (Previous Year :- Rs. Nil)
Expenditure: - Rs. Nil. (Previous Year :- Rs. Nil )
8. Subsidiaries and Joint Ventures
a. Wholly Owned Subsidiary/Sub-Subsidiary
BSEL Infrastructure Realty FZE
b. Sub-Subsidiaries
BSEL Waterfront Sdn. Bhd.
BSEL Infrastructure Realty Sdn. Bhd.
c. Joint Ventures
Goa Tech Parks Pvt. Ltd.
9. Consolidated Financial Statements
The consolidated financial statements are published as per the
Accounting Standard 21 - Consolidated Financial Statements issued by
Institute of Chartered Accountants of India.
10. Dues to Small Scale Industrial Undertakings
Due to Micro, Small, Medium Enterprises as defined under the MSMED Act,
2006 is Rs. Nil (Previous Year Rs. Nil). This information has been
determined to the extent such parties have been identified on the basis
of information available with the company. This has been relied upon by
the auditors.
11. There are no amounts due and outstanding to be credited to
Investor Education Protection Fund.
12. Employees Benefits
a) Defined Contribution Plans
The Group's Contribution paid/ payable during the year towards
Provident Fund is charged in the Profit and Loss Account every year
b) Defined Benefit Plan
During the current Financial year Provisions of Rs. 71,653/- (Previous
Year Rs.105,346/-) is made towards Gratuity liability as on 31.03.2012
under the payment of Gratuity Act,1972.
13. Provision for Doubtful Debts
There is no doubtful amount receivable from the parties, therefore no
provision has been made towards Doubtful Debts in the books of
accounts.
14. Prior Period Items
Prior period items having material impact on the financial affairs of
the company have been disclosed.
15. There is no employee drawing Salary of Rs. 2 Lacs per month or more.
16. Contingent liability which can be reasonably ascertained are
provided for if it is in the opinion of the Company the future outcome
of the same may be detrimental to the Company.
17. All the Loans and Advances (Assets) and Current Assets and Current
Liabilities are subject to confirmation from the respective parties.
18. Balance of Unpaid Dividend Account as at 31st March, 2012 is Rs.
1,357,407/-.
19. Other additional information pursuant to Schedule VI Part II of
the Companies Act, 1956 are not applicable to the Company.
Mar 31, 2010
1. Previous Years Figures
The Previous years figures have been recasted / restated, wherever
necessary to confirm to current year classification.
2. Share Capital
The Company has at present, only one class of shares i.e. Equity
Shares.
3. Fixed Assets
During the year, the Company has sold net fixed assets of Rs. 5.46 Lacs
(Previous Year Rs.188.72 Lacs) from its gross block.
4. Loans and Advances
Advances recoverable in cash, kind or value to be received are
primarily towards prepayments for value to be received. Other advances
represent deposit for office premises, telephone deposit, advance to
contractors, advance for the purchase of commercial premises and
deposit to the local authorities such as NMMC- Fire Brigade / MSEB etc.
Advances also include loans to Subsidiary and Joint Ventures.
5. Sale of Joint Venture Companies
6. Foreign Exchange
Foreign Currency transactions during the year recorded at the exchange
rate prevailing on the date of the transaction.
7. Current Tax
The Company has no current tax Charge due to loss incurred by the
Company for the financial year ended on 31st March, 2010. (Previous
Year tax liability (inclusive of FBT) was estimated of Rs.
6,740,000/-).
8. Earning/Expenditure in Foreign Currency
Earning: - Rs. Nil (Previous Year :- 13,797,189/-) Expenditure: - Rs.
Nil (Previous Year :- 637,757/-)
9. Related Party Disclosures
Related Party Disclosure as required by AS-18 "Related Party
Disclosure" are given below :
1. Individuals owing directly or indirectly an interest in the voting
power that gives them control or significant influence:
Name of the Party Nature of Relationship
Kirit R. Kanakiya à Chairman
2. Key Management Personnel
Name of the Party Nature of Relationship
Kirit R. Kanakiya à Chairman
Dharmendra Raichura à Managing Director
3. Other Related Parties and Nature of Relationship
(a) Nature of Relationship - Associate Concerns
(b) Name of the Parties
a. Beachcraft Investment &
Trading Co. Pvt. Ltd., b. Blackmore
Investment & Trading Co. Pvt. Ltd.,
c. Consisent Packagers
Pvt. Ltd., d. Pleasant Packaging Co. Pvt.
Ltd.,
e. Poornima Commercial Pvt.
Ltd., f. Pravara Commercial Pvt. Ltd.,
g. Relaxed Packagers Pvt. Ltd., h. Orbit Plastics Private Limited
i. Timberhill Engineers
Pvt. Ltd., j. KKR Commercial Brokerage, LLC
k. Reshma Plastics Pvt. Ltd., l. Total Bizcon Solution Limited
m. Western Bizcon Services Ltd. n. Contact Consultancy Services Pvt.
Ltd.,
0. Stock Watch Securities
Pvt. Ltd., p. Stock Watch
q. Supreme Compliment Sdn. Bhd. r. BSEL Molek Sdn. Bhd.
s. Jitovest Sdn. Bhd. t. Splendid Advisory Sdn.Bhd.
u. BSEL Resources Sdn. Bhd.
4. Subsidiaries and Joint Ventures
a) Wholly Owned Subsidiary
1. BSEL Infrastructure Realty FZE
b) Sub-Subsidiaries
1. BSEL Infrastructure Realty Pte. Ltd.
2. BSEL Waterfront Sdn. Bhd.
3. BSEL Infrastructure Realty Sdn. Bhd.
c) Joint Ventures
1. Goa Tech Park Pvt. Ltd.
10. Consolidated Financial Statements
The consolidated financial statements are published as per the
Accounting Standard 21 Ã Consolidated Financial Statements issued by
Institute of Chartered Accountants of India.
11. Dues to Small Scale Industrial Undertakings
Due to Micro, Small, Medium Enterprises as defined under the MSMED Act,
2006 is Rs. Nil (Previous Year Rs. Nil). This information has been
determined to the extent such parties have been identified on the basis
of information available with the Company. This has been relied upon by
the auditors.
There is no amounts due and outstanding to be credited to Investor
Education Protection Fund.
12. Employees Benefits
a) Defined Contribution Plans
The Groups Contribution paid/ payable during the year towards
Provident Fund is charged in the Profit and Loss Account every year
b) Defined Benefit Plan
During the current Financial year Provisions of Rs.576,000/- is made
towards Gratuity liability as on 31.03.2010 under the payment of
Gratuity Act, 1972.
13. Provision for Doubtful Debts
i) During the current Financial year amount receivable from Microcity
India Limited of Rs. 11,563,701/- is written off as bad debts to Profit
& Loss A/c. as the same was outstanding for more than six years and the
management is of opinion that the same is not recoverable.
ii) There is no other doubtful amount receivable from the parties,
therefore no provision has been made towards Doubtful Debts in the
books of accounts.
14. Prior Period Items
Prior period items having material impact on the financial affairs of
the Company have been disclosed.
15. There is no employee drawing Salary of Rs. 2 Lacs per month or
more.
16. Contingent liability which can be reasonably ascertained are
provided for if it is in the opinion of the Company the future outcome
of the same may be detrimental to the Company.
17. All the Loans and Advances (Assets) and Current Assets and Current
Liabilities are subject to confirmation from the respective parties.
18. Balance of Unpaid Dividend Account as at 31st March, 2010 is
Rs.1,365,498/-.
19. Other additional information pursuant to Schedule VI Part II of
the Companies Act, 1956 are not applicable to the Company.