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Notes to Accounts of Balmer Lawrie Investments Ltd.

Mar 31, 2023

Terms and rights attached to Equity Shares:

The Company has one class of Equity Shares having a par value of ? 10 per share. Each holder of Equity Shares is entitled to one vote per share with a right to receive per share dividend declared by the Company. In the event of liquidation of the Company, the holders of Equity Shares will be entitled to receive remaining assets of the Company, after payment of all liabilities. The distribution will be in proportion to the number of equity shares held by the shareholders.

21 Contingent Liabilities and Commitments (to the extent not provided for)
Contingent Liabilities	as at March	as at March
	31,2023	31, 2022
BSE has been imposing fines on the Company on quarterly basis for non-compliance of provisions of SEBI LODR Regulations 2015 pertaining to composition of Board of Directors and the composition of some Board level Committees. Suitable reply has been given by the Company to BSE for waiver of these fines as the same were due to factors beyond control of the Company.	111.17	79.56

Out of Rs. 111.17 lakhs,Rs. 31.61 lakhs pertains to F.Y. 2022-23, Rs 25.78 lakhs pertains to FY 2021-22 Rs. 10.68 lakhs pertains to F.Y 2020-21, Rs. 27.90 lakhs pertains to F.Y 2019-20 and Rs. 15.20 Lakhs pertains to F.Y 2018-19.

The figures of fine as reflected as on 31st March, 2023 has been calculated based on notices received from BSE Ltd. for the period ended 31.03.2023 and waiver thereof.

The Company being a Governement Company, the compliance regarding composition of directors is not within the control of the Company but as per directions of the Administrative Ministry.

22 Scheme of Arrangement and Reconstruction

(a) A Scheme of Arrangement and Reconstruction (''the Scheme''),made under sections 391 to 394 of the erstwhile Companies Act, 1956 (''the Act''), was executed by and between IBP Co. Ltd. (''IBP'') and Balmer Lawrie Investments Ltd. (''the Company'') and their respective creditors and shareholders. The Scheme under notification no. GSR/238 dated 2nd February 1978, was approved by the erstwhile Department of Company Affairs, Ministry of Law, Justice and Company Affairs, Govt. of India, was approved on 8th January 2002, with the appointed date of 15th October 2001.Under the Scheme 1,00,64,700 Equity Shares of Rs. 10/- each, fully paid-up, of Balmer Lawrie & Co. Ltd. (''BL''), held by IBP, was transferred to the Company, whereby the Company became holder of 61.8% Equity Shares of BL, with effect from the aforesaid appointed date of the Scheme, i.e., 15th October 2001.

(b) In consideration of transfer of the aforesaid shares of BL by IBP, the Company had allotted 2,21,47,269 equity shares of ? 10/- each, fully paid-up to the shareholders of IBP (consideration other than cash), in the ratio of 1:1.

23 Public Deposit :

The Company has not accepted any Public deposit within the meaning of Section 45I(bb) of RBI Act 1934 during the year in question & the company has also passed resolution for non-acceptance of any Public Deposit.

24 Non Banking Financial Company (''NBFC'')

Balmer Lawrie Investments Limited is a Non-Banking Financial Company as defined under section 45-I(f) of the Reserve Bank of India Act, 1934. On the basis of application given by the Company the RBI in exercise of their power conferred under section 45-NC of the Reserve Bank of India Act, 1934, has exempted the Company to comply with the formalities of registration and minimum net owned funds, under the Notification No. DNBS.153/CGM(LMF)-2001 dated December 10, 2001.

The Financial Statements have been prepared as per the requirements of Division III to the Revised Schedule III of the Companies Act,2013

25 investment details

The Company holds 61.8 % equity shares of Balmer Lawrie & Co. Ltd.(BL). The Company holds 10,56,79,350 equity shares of Balmer Lawrie & Co. Ltd. carrying at cost. Hence, disclosure requirement regarding fair value is not required.

26 details of dues to Micro, small and Medium Enterprises are given below:

The principal amount remaining unpaid at the end of accounting year 2022-23 is Rs 0.52 lacs.(Previous Year : NIL) . As at the end of the accounting period the same has remained unpaid because of dispute in the bill.

27 Unclaimed dividend accounts

The Unclaimed Final dividend outstanding in the accounts for the financial year 2014-15 was ? 33.37 lakhs which has been transferred to the Investors'' Education & Protection Fund Account during the year.

28 service agreement with Balmer Lawrie & Co. Ltd (BL)

The company has entered into Service Agreement with Balmer Lawrie & Co. Ltd (BL) whereby BL shall act as a Service Provider to maintain Books of Accounts, Statutory Registers, provide services, in nature of administration , finance, taxation, secretarial and other allied functions provide office space and other requisite infrastructure.

The carrying amounts of Financial Assets and Liabilities are considered a reasonable approximation of their fair values.

*The Company has opted to recognise the investments as per Ind AS 27 at cost.

(iii) Fair values hierarchy

The Company does not have any Financial Assets or Financial Liabilities carried at fair value.

33 Financial Risk Management i) Risk Management

The Company is exposed to various risks in relation to financial instruments. The Company''s Financial Assets and Liabilities by category are summarised in Note 32(i). The main types of risks are credit risk, liquidity risk and market risk.

The Company''s risk management is coordinated in close co-operation with the Board of Directors, and focuses on securing the Company''s short to medium term cash flows. The Company does not engage in trading of Financial Assets for speculative purposes.

A) Credit Risk

Credit risk is the risk that a counterparty fails to discharge its obligation to the Company. The Company''s exposure to credit risk is limited to the carrying amount of financial assets recognised at Balance Sheet date as summarised in Note 32(i).

The Company has investment in Equity instrument of subsidiaries and therefore, credit risk in respect of such financial assets is considered negligible.

The credit risk for cash and cash equivalents and other bank balances are considered negligible, since the counterparties are reputable banks with high quality external credit ratings.

B) Liquidity Risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset.

The Company''s approach to managing liquidity is to ensure as far as possible, that it will have sufficient liquidity to meet its liabilities as and when they are due.

Ultimate responsibility for liquidity risk management rests with the Board of Directors. The Company manages liquidity risk by maintaining adequate reserves, back-up facilities such as deposits and by continuously monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities. Management monitors rolling forecasts of the Company''s liquidity position and cash and cash equivalents on the basis of expected cash flows.

maturities of Financial Liabilities

The tables below analyse the Company Financial Liabilities into relevant maturity groupings based on their contractual maturities.

C) Market Risk

Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market prices. It comprises of currency risk, interest rate risk and price risk.

Currency Risk:

The company does not have any foreign currency transactions, hence, it is not exposed to currency risk. interest Rate Risk:

As the Company does not have any borrowings outstanding, it is not exposed to interest rate risk.

Price Risk:

The company does not have any financial instrument which exposes it to price risk.

34 Capital Management

The Company''s capital includes issued share capital and all other distributable reserves. The primary objective of the Company''s capital management is to maximise shareholder value and to maintain an optimal capital structure to reduce the cost of capital. The Company does not have any Non-current borrowings and all its capital needs are met by capital or shareholders only.

37 Disclosure required under additional regulatory infirmation as prescribed under paragraph WB to general instruction of preparation of Balance Sheet under Schedule III of Companies Act 2013 are not applicable to the company except activities related to CSR as disclosed in Note no 18.

38 There have been no events after the reporting date that require disclosure in these Financial Statements.

39 Previous year figures have been regrouped or rearranged or reclassified wherever considered necessary.

40 Authorisation of Financial Statements

These Financial Statements for the year ended 31 March 2023 (including comparatives) has been signed by the Board of Directors as on 30 May 2023

Summary of significant Accounting Policies and

The accompanying notes are integral part of thev Financial Statements.

Mar 31, 2018

1 Corporate information

Balmer Lawrie Investments Limited (The Company) is a Government Company domiciled in India and incorporated under the provisons of the Companies Act, 1956. Itâs Shares are listed on two stock exchanges in India. The Company is not engaged in any other business activity, except, to hold the Equity Shares of Balmer Lawrie & Co. Ltd.

The Company is the holding company of Balmer Lawrie & Co. Limited(BL) by virtue of its acquiring 61.8% Equity Shares of BL from IBP Co. Ltd. through a Scheme of Arrangement and Reconstruction between IBP Co. Ltd., Balmer Lawrie Investments Limited and their respective shareholders and creditors in terms of Section 391 to 394 of the Companies Act,1956. The Scheme became effective on 5th February, 2002 with an appointed date of 15th October, 2001.

1,32,46,098 Equity Shares of the Company are held by President of India (including its nominees) The Registered office of the Company is situated at 21, Netaji Subhas Road, Kolkata - 700 001.

Note: The investments made by the company appear at cost inclusive of acquisition charges. Provision is made for diminution in value, if any, considering the nature and extent of temporary / permanent diminution. The Board of Balmer Lawrie & Co. Ltd. at its meeting dated 27th December 2016, alloted Bonus Share in the proportion of 3:1 ( i.e 3 nos. equity bonus share of ''10/- each of the company for every 1 existing fully paid equity share of Rs. 10/- each) Accordingly the shareholding of the Company in Balmer Lawrie & Co. Ltd. increased from 1,76,13,225 shares to 7,04,52,900 shares although the percentage of shareholding in BL remains the same.

Note : (i) Of the above, the balances that meet the definition of Cash and cash equivalents as per AS 3 Cash Flow Statements is Rs. 10903.00 lakhs (maturity within one year)

2 Scheme of Arrangement and Reconstruction

(a) A Scheme of Arrangement and Reconstruction (âthe Schemeâ),made under sections 391 to 394 of the Companies Act, 1956 (âthe Actâ), was executed by and between IBP Co. Ltd. (âIBPâ) and Balmer Lawrie Investments Ltd. (âthe Companyâ) and their respective creditors and shareholders. The Scheme under notification no. GSR/238 dated 2nd February 1978, was approved by the erstwhile Department of Company Affairs, Ministry of Law, Justice and Company Affairs, Govt. of India, was approved on 8th January 2002, with the appointed date of 15th October 2001.Under the Scheme 1,00,64,700 Equity Shares of Rs. 10/- each, fully paid-up, of Balmer Lawrie & Co. Ltd. (âBLâ), held by IBP, was transfered to the Company, whereby the Company became holder of 61.8% Equity Shares of BL, with effect from the aforesaid appointed date of the Scheme, i.e., 15th October 2001.

(b) In consideration of transfer of the aforesaid shares of BL by IBP, the Company had alloted 2,21,47,269 equity shares of Rs. 10/- each, fully paid-up to the shareholders of IBP (consideration other than cash), in the ratio of 1:1.

3 Public Deposit :

4 Non Banking Financial Company (NBFC)

Balmer Lawrie Investments Limited is a non-banking financial Company as defined under section 45-I(f) of the Reserve Bank of India Act, 1934. On the basis of application given by the Company the RBI in exercise of their power conferred under section 45-NC of the Reserve Bank of India Act, 1934, has exempted the Company to comply with the formalities of registration and minimum net owned funds, under the Notification No. DNBS.153/CGM(LMF)-2001 dated December 10, 2001.

5 During the year the Company has made a provision for Income Tax amounting to Rs. 182.00 lacs under the normal provision of Income Tax Act 1961. (Previous Year Rs. 208.00 lacs under normal provision of The Income Tax Act. 1961)

6 Investment Details

The Company holds 61.8 % equity shares of Balmer Lawrie & Co. Ltd.(BL). Since the control in BL is intended to be temporary and there is no change of such intention, Consoldated Financial Statements of the Company with BL has not been drawn in terms of para 11(a) of Accounting Standard 21 (AS-21) issued by the Chartered Accountants of India. The Company holds 7,04,52,900 equity shares of Balmer Lawrie & Co. Ltd.

7 Agreement for Employee Benefit

The company has entered into Service Agreement with Balmer Lawries & Co. Ltd (BL) on 1st May, 2017 whereby BL shall act as a Service Provider to maintain Books of Accounts, Statutory Regsiters , provide services, in nature of administration , finance, taxation , secreatarial and other allied functions., provide office space and other requisite infrastructure.

8 Unpaid Dividend Accounts

The Company has to maintain a dividend account from where the dividends are issued to the shareholders, the amount of unclaimed dividend which remains there for more than seven years is then transferd to the Investor Education & Protection Fund Account. For The Financial Year 2009-10 , the unpaid Final dividend outstanding in the accounts was Rs. 18,46,640 which has been transfered to the Investor Education & Protection Fund Account during the year.

9. Dividend not recognised at the end of the reporting priod - The directors of the Company have recommended the payment of a final dividend of Rs. 24 ( 31 March 2017 ''17 ) per fully paid equity share. The proposed dividend is subject to the approval of shareholders in the ensuing annual general meeting.

10 Previous yearâs figures have been regrouped / reclassified wherever necessary to correspond with the current yearâs classification / disclosure.

Mar 31, 2016

1 Scheme of Arrangement and Reconstruction

(a) A Scheme of Arrangement and Reconstruction (âthe Schemeâ),made under sections 391 to 394 of the Companies Act, 1956 (âthe Actâ), was executed by and between IBP Co. Ltd. (âIBPâ) and Balmer Lawrie Investments Ltd. (âthe Companyâ) and their respective creditors and shareholders. The Scheme under notification no. GSR/238 dated 2^nd February, 1978, was approved by the erstwhile Department of Company Affairs, Ministry of Law, Justice and Company Affairs, Govt, of India, was approved on 8^th January, 2002, with the appointed date of 15th October 2001.Under the Scheme 1,00,64,700 Equity Shares of Rs. 10/- each, fully paid-up, of Balmer Lawrie & Co. Ltd. (âBLâ), held by IBP, was transferred to the Company, whereby the Company became holder of 61.8% Equity Shares of BL, with effect from the aforesaid appointed date of the Scheme, i.e., 15^th October, 2001.

2 Public Deposit :

The Company has not accepted any public deposit within the meaning of Section 45l(bb) of RBI Act 1934 during the year in question & the company has also passed resolution for non-acceptance of any Public Deposit.

3 Non Banking Financial Company (âNBFCâ)

4 During the year the Company has made a provision for Income Tax amounting to Rs. 202.00 lacs under the normal provision of Income Tax Act 1961. (Previous Year Rs. 200 lacs under normal provision of The Income Tax Act. 1961)

5 Investment Details

The Company holds 61.8 % equity shares of Balmer Lawrie & Co. Ltd.(BL). Since the control in BL is intended to be temporary and there is no change of such intention, Consolidated Financial Statements of the Company with BL has not been drawn in terms of para 11 (a) of Accounting Standard 21 (AS-21) issued by the Institute of Chartered Accountants of India (ICAI). The Company holds 1,76,13,225 equity shares of Balmer Lawrie & Co. Ltd (PY1,76,13,225 shares).

6 Agreement for Employee Benefit

The Company has entered into Service Agreement with Balmer Lawries & Co. Ltd (BL) on 1^st May, 2015 whereby BL shall act as a Service Provider to maintain Books of Accounts, Statutory Regsiters, provide services, in nature of administration, finance, taxation, secretarial and other allied functions., provide office space and other requisite infrastructure.

7 Unpaid Dividend Accounts

The Company has to maintain a dividend account from where the dividends are issued to the shareholders, the amount of unclaimed dividend which remains there for more than seven years is then transfer to the Investor Education & Protection Fund Account. For the Financial Year 2007-08, the unpaid final dividend outstanding in the accounts was of Rs. 4,00,569/- which has been transferred to the Investor Education & Protection Fund Account on 6^th Nov, 2015.

Note :

1. Visakhapatanam Port Logistics Park Ltd. (100% Subsidiary of BL) is yet to commence operations

2. None of the subsidiaries have been liquidated or sold during the year.

Mar 31, 2015

1 Corporate information

Balmer Lawrie Investments Limited (The Company ) is a Government Company domiciled in India and incorporated under the provisons of the Companies Act, 1956. It's Shares are listed on two stock exchanges in India. The Company is not engaged in any other business activity, except, to hold the Equity Shares of Balmer Lawrie & Co. Ltd.

The Company is the holding company of Balmer Lawrie & Co. Limited(BL) by virtue of its acquiring 61.8% Equity Shares of BL from IBP Co. Ltd. through a Scheme of Arrangement and Reconstruction between IBP Co. Ltd., Balmer Lawrie Investments Limited and their respective shareholders and creditors in terms of Section 391 to 394 of the Companies Act,1956. The Scheme became effective on 5th February, 2002 with an appointed date of 15th October, 2001.

1,32,46,098 Equity Shares of the Company are held by President of India ( including its nominees)

The Registered office of the Company is situated at 21, Netaji Subhas Road, Kolkata - 700 001

in Rs. Lakhs

Note Particulars As at As at No. 31st March, 31st March, 2015 2014

Additional information to the financial statements 2 contingent liabilities and commitments (to the extent not provided for)

(i) Contingent liabilities

(a) Income Tax for the Asst. Year 2008-09 paid under dispute 2.96 2.96 Disputed Income Tax Paid against which the Company had filed Appeal in view of the facts of the case before the Commissioner of Income Tax (Appeals) for Assessment Year 2008-09 and had paid Rs. 2,95,530/- under protest. Appeal hearing is pending as on 31st March, 2015. (b) Other commitments (specify nature) NIL NIL

3 Scheme of Arrangement and Reconstruction

(a) A Scheme of Arrangement and Reconstruction ('the Scheme'), made under sections 391 to 394 of the Companies Act, 1956 ('the Act'), was executed by and between IBP Co. Ltd. ('IBP') and Balmer Lawrie Investments Ltd. ('the Company') and their respective creditors and shareholders. The Scheme under notification no. GSR/238 dated 2nd February, 1978, was approved by the erstwhile Department of Company Affairs, Ministry of Law, Justice and Company Affairs, Govt. of India, was approved on 8th January, 2002, with the appointed date of 15th October 2001.Under the Scheme 1,00,64,700 Equity Shares of Rs. 10/- each, fully paid-up, of Balmer Lawrie & Co. Ltd. ('BL'), held by IBP, was transfered to the Company, whereby the Company became holder of 61.8% Equity Shares of BL, with effect from the aforesaid appointed date of the Scheme, i.e., 15th October, 2001.

(b) In consideration of transfer of the aforesaid shares of BL by IBP, the Company had alloted 2,21,47,269 equity shares of Rs. 10/- each, fully paid-up to the shareholders of IBP (consideration other than cash), in the ratio of 1:1.

4 Public Deposit :

The Company has not accepted any Public deposit within the meaning of Section 45I(bb) of RBI Act 1934 during the year in question & the company has also passed resolution for non-acceptance of any Public Deposit.

5 Non Banking Financial Company ('NBFC')

Balmer Lawrie Investments Limited is a non-banking financial Company as defined under section 45-I(f) of the Reserve Bank of India Act, 1934. On the basis of application given by the Company the RBI in exercise of their power conferred under section 45-NC of the Reserve Bank of India Act, 1934, has exempted the Company to comply with the formalities of registration and minimum net owned funds, under the Notification No. DNBS.153/CGM(LMF)-2001 dated December 10, 2001.

6 During the year the Company has made a provision for Income Tax amounting to Rs. 200.00 lacs under the normal provision of Income Tax Act 1961. (Previous Year Rs. 170 lacs under normal provision of The Income Tax Act. 1961)

7 Investment Details

The Company holds 61.8 % equity shares of Balmer Lawrie & Co. Ltd.(BL). Since the control in BL is intended to be temporary and there is no change of such intention, Consoldated Financial Statements of the Company with BL has not been drawn in terms of para 11 (a) of Accounting Standard 21 (AS-21) issued by the Chartered Accountants of India. The Company holds 1,76,13,225 equity shares of Balmer Lawrie & Co. Ltd (PY 1,76,13,225 shares).

8 Agreement for Employee Benefits

The Company has entered into Service Agreement with Balmer Lawries & Co. Ltd (BL) on 1st May, 2014 whereby BL shall act as a Service Provider to maintain Books of Accounts, Statutory Regsiters, provide services, in nature of administration, finance, taxation, secretarial and other allied functions., provide office space and other requisite infrastructure.

9 Unpaid Dividend Accounts

The Company has to maintain a dividend account from where the dividends are issued to the shareholders, the amount of unclaimed dividend which remains there for more than seven years is then transferd to the Investor Education & Protection Fund Account. For The Financial Year2006-07, the unpaid Final dividend outstanding in the accounts was Rs. 4,64,540.40 which has been transfered to the Investor Education & Protection Fund Account during the year. Also, For the Financial Year 2007-08, the unpaid interim dividend outstanding in the accounts was Rs. 7,70,439, during the year warrents encashed were Rs. 2,100/- thus the remaining balance of Rs. 7,68,339/- has been transfered to the Investor Education & Protection Fund Account during the year.

10 Related party transactions Details of related parties:

Name of Related Parties Description of Relationship

Balmer Lawrie & Co. Ltd. (BL) Subsidiary Company Balmer Lawrie (UK) Ltd. (BL-UK) Wholly Owned Subsidiary PT Balmer Lawrie- Indonesia of BL Associate in which the (BL-UK) is having significant influence.

Transafe Services Ltd. An Associate in which the subsidiary of the Company is having significant influence

Balmer Lawrie-Van Leer Ltd. An Associate on which the subsidiary of the Company is having significant influence

Balmer Lawrie (UAE) LLC. An Associate on which the subsidiary of the Company is having significant influence

Balmer Lawrie Hind Terminals Ltd. An Associate on which the subsidiary of the Company is having significant influence

Avi - Oil India (P) Ltd. An Associate on which the subsidiary of the Company is having significant influence

Proseal Closures Ltd. Subsidiary of Balmer Lawrie Vishakapatnam Logistics Van-Leer Limited Wholly Park Ltd owned subsidiary of Balmer Lawrie & Co. Limited

Note: Related parties have been identified by the Management.

11. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

Mar 31, 2014

Note: 1 Corporate information

Balmer Lawrie Investments Limited (The Company) is a Government Company domiciled in India and incorporated under the provisions of the Companies Act, 1956. It''s Shares are listed on two stock exchanges in India. The Company is not engaged in any other business activity, except, to hold the Equity Shares of Balmer Lawrie & Co. Ltd.

The Company is the holding company of Balmer Lawrie & Co. Limited(BL) by virtue of its acquiring 61.8% Equity Shares of BL from IBP Co. Ltd. through a Scheme of Arrangement and Reconstruction between IBP Co. Ltd., Balmer Lawrie Investments Limited and their respective shareholders and creditors in terms of Section 391 to 394 of the Companies Act,1956. The Scheme became effective on 5th February , 2002 with an appointed date of 15th October, 2001.

1,32,46,098 Equity Shares of the Company are held by President of India. The Registered office of the Company is situated at 21, Netaji Subhas Road, Kolkata - 700 001.

Refer Notes (i) to (v) below

(i) Reconciliation of the number of shares and amount outstanding at the beginning and at the end of the reporting period:

(ii) Details of shares held by the holding company, the ultimate holding company, their subsidiaries and associates: NIL

(iii) Details of shares held by each shareholder holding more than 5% shares:

(vi) Aggregate number and class of shares allotted as fully paid up pursuant to contract(s) without payment being received in cash, bonus shares and shares bought back for the period of 5 years immediately preceding the Balance Sheet date:

Note: Rs. 10/- each was alloted as fully paid up shares pursuant to Scheme of Arrangement and Reconstruction between IBP Co. Ltd and Balmer Lawrie Investments Limited and their respective shareholders and creditors in terms of Section 391 to Section 394 of the Companies Act,1956

Note: The investments made by the company appear at cost inclusive of acquisition charges. Provision is made for diminution in value, if any, considering the nature and extent of temporary / permanent diminution

2 scheme of Arrangement and Reconstruction

(a) A Scheme of Arrangement and Reconstruction (''the Scheme''),made under sections 391 to 394 of the Companies Act, 1956 (''the Act''), was executed by and between IBP Co. Ltd. (''IBP'') and Balmer Lawrie Investments Ltd. (''the Company'') and their respective creditors and shareholders. The Scheme under notification no. GSR/238 dated 2nd February 1978, was approved by the erstwhile Department of Company Affairs, Ministry of Law, Justice and Company Affairs, Govt. of India, was approved on 8th January 2002, with the appointed date of 15th October 2001.Under the Scheme 1,00,64,700 Equity Shares of Rs. 10/- each, fully paid-up, of Balmer Lawrie & Co. Ltd. (''BL''), held by IBP, was transfered to the Company, whereby the Company became holder of 61.8% Equity Shares of BL, with effect from the aforesaid appointed date of the Scheme, i.e., 15th October 2001.

(b) In consideration of transfer of the aforesaid shares of BL by IBP, the Company had alloted 2,21,47,269 equity shares of Rs. 10/- each, fully paid-up to the shareholders of IBP (consideration other than cash), in the ratio of 1:1.

3 Public Deposit :

The Company has not accepted any Public deposit within the meaning of Section 45I(bb) of RBI Act 1934 during the year in question & the company has also passed resolution for non-acceptance of any Public Deposit.

4 Non Banking Financial Company (''NBFC'')

Balmer Lawrie Investments Limited is a non-banking financial Company as defined under section 45-I(f) of the Reserve Bank of India Act, 1934. On the basis of application given by the Company the RBI in exercise of their power conferred under section 45-NC of the Reserve Bank of India Act, 1934, has exempted the Company to comply with the formalities of registration and minimum net owned funds, under the Notification No. DNBS.153/ CgM(LMF)-2001 dated December 10, 2001.

5 During the year the Company has made a provision for Income Tax amounting to Rs. 170.00 lacs under the normal provision of Income Tax Act 1961. (Previous Year Rs. 149.00 lacs under normal provision of The Income Tax Act. 1961)

6 Investment Details

The Company holds 61.8 % equity shares of Balmer Lawrie & Co. Ltd.(BL). Since the control in BL is intended to be temporary and there is no change of such intention, Consoldated Financial Statements of the Company with BL has not been drawn in terms of para 11 (a) of Accounting Standard 21 (AS-21) issued by the Chartered Accountants of India.Durng the year the Company has received bonus share of 75,48,525 nos from BL in the ratioo of 3:4 resulting in shareholding of 17,613,225 nos of share (PY 100,64,700 shares).

7 Agreement for Employee Benefits

The company has entered into Service Agreement with Balmer Lawries & Co. Ltd (BL) on 1st May 2013 whereas BL shall act as a Service Provider to maintain Books of Accounts, Statutory Regsiters , provide services, in nature of administration, finance, taxation, secreatarial and other allied functions., provide office space and other requisite infrastructure.

Employee Expenses denotes remuneration payable to the Company Secretary , whose services have been seconded by the Service Provider and for which the Service Provider raises monthly bill upon the Company . All the necessary statutory obligations including PF, ESIC, TDS , Gratuity related to the Employees are being taken care by the Service Provider only.

8 Unpaid Dividend Accounts

The Company has to maintain a dividend account from where the dividends are issued to the shareholders, the amount of unclaimed dividend which remains there for more than seven years is then transfered to the Investor Education & Protection Fund Account.

For the Financial year 2005-06, the unpaid Final dividend outstanding in the accounts was Rs. 4,55,737, during the year warrants encashed were Rs. 13,431 thus the remaining balance of Rs. 4,42,306/- has been transfered to the Investor Education & Protection Fund Account during the year.

Also, for the Financial Year 2006-07, the unpaid Interim dividend outstanding in the accounts was Rs. 2,75,531, during the year warrants encashed were Rs. 2,565/- thus the remaining balance of Rs. 2,72,966/- has been transfered to the Investor Education & Protection Fund Account during the year.

9 Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

Mar 31, 2013

Note 1 Corporate information

Balmer Lawrie Investments Limited ( The Company ) is a Government Company domiciled in India and incorporated under the provisons of the Companies Act, 1956. It''s Shares are listed on two stock exchanges in India. The Company is not engaged in any other business activity, except, to hold the Equity Shares of Balmer Lawrie & Co. Ltd. (ÂBL''). The Company is the holding company of BL by virtue of its acquiring 61.8% Equity Shares of BL from IBP Co. Ltd. through a Scheme of Arrangement and Reconstruction between IBP Co. Ltd., Balmer Lawrie Investments Limited and their respective Shareholders and Creditors in terms of Sections 391 to 394 of the Companies Act,1956. The Scheme became effective on 5th February, 2002 with an appointed date of 15th October, 2001.

1,32,46,098 Equity Shares of the Company are held by the President of India. The Registered office of the Company is situated at 21, Netaji Subhas Road, Kolkata - 700 001.

2 Contingent liabilities and commitments (to the extent not provided for)

(i) Contingent liabilities

(a) Income Tax for the Asst. Year 2007-08 paid under dispute 2.96 2.96

against which the Company had filed Appeal in view of the facts of the case before the Commissioner of Income Tax (Appeals) for Assessment Year 2007-08 and had paid Rs. 295,530/- under protest.Appeal hearing is pending as on 31st March 2013.

(b) Other commitments NIL NIL

3 Scheme of Arrangement and Reconstruction

(a) A Scheme of Arrangement and Reconstruction (Âthe Scheme''), made under Sections 391 to 394 of the Companies Act, 1956 (Âthe Act''), was executed by and between IBP Co. Ltd. (ÂIBP'') and Balmer Lawrie Investments Ltd. (Âthe Company'') and their respective creditors and shareholders. The Scheme under notification no. GSR/238 dated 2nd February 1978, was approved by the erstwhile Department of Company Affairs, Ministry of Law, Justice and Company Affairs, Govt. of India, on 8th January 2002, with the appointed date of 15th October 2001.Under the Scheme 1,00,64,700 Equity Shares of Rs. 10/- each, fully paid-up, of Balmer Lawrie & Co. Ltd. (ÂBL''), held by IBP, was transfered to the Company, whereby the Company became holder of 61.8% Equity Shares of BL, with effect from the aforesaid appointed date of the Scheme, i.e., 15th October 2001.

(b) In consideration of transfer of the aforesaid shares of BL by IBP, the Company had alloted 2,21,47,269 Equity Shares of Rs. 10/- each, fully paid-up to the shareholders of IBP (consideration other than cash), in the ratio of 1:1.

4 Public Deposit :

The Company has not accepted any Public Deposit within the meaning of Section 45I(bb) of the Reserve Bank of India (RBI) Act 1934 during the year in question and the Company has also passed resolution for non-acceptance of any Public Deposit.

5 Non Banking Financial Company (ÂNBFC'')

Balmer Lawrie Investments Limited is a NBFC as defined under Section 45-I(f) of the RBI Act, 1934. On the basis of application given by the Company, the RBI in exercise of their power conferred under section 45-NC of the RBI Act, 1934, has exempted the Company to comply with the formalities of registration and minimum net owned funds, under the Notification No. DNBS.153/CGM(LMF)-2001 dated December 10, 2001.

6 During the year the Company has made a provision for Income Tax amounting to Rs. 149.00 lacs under the normal provision of Income Tax Act 1961. (Previous Year Rs. 129.43 lacs under the normal provision of the Income Tax Act. 1961)

7 Investment Details

The Company holds 61.8 % equity shares of Balmer Lawrie & Co. Ltd.(BL). Since the control in BL is intended to be temporary and there is no change of such intention, Consolidated Financial Statements of the Company with BL has not been drawn in terms of para 11 (a) of Accounting Standard 21 (AS-21) issued by the ÂInstitute of Chartered Accountants of India''.

8 Agreement for Employee Benefits

The Company has entered into Service Agreement with Balmer Lawries & Co. Ltd (BL) on 25th May 2012 whereby BL shall act as a Service Provider to maintain Books of Accounts, Statutory Registers, provide services in nature of, administration, finance, taxation, secretarial and other allied functions, provide office space and other requisite infrastructure. Employee Expenses denotes remuneration payable to the Company Secretary, whose services have been seconded by the Service Provider and for which the Service Provider raises monthly bill upon the Company. All the necessary statutory obligations including PF, ESIC, TDS , Gratuity related to the Employees are being taken care by the Service Provider only.

9 Unpaid Dividend Accounts

The Company has to maintain a dividend account from where the dividends are issued to the shareholders, the amount of unclaimed dividend which remains there for more than seven years is then transferred to the ÂInvestors'' Education & Protection Fund'' Account. For The Financial Year 2004-05, the unpaid dividend outstanding in the accounts was Rs. 2,77,686, during the year warrants encashed were Rs. 7,276, thus the remaining balance of Rs. 2,70,410 /- has been transfered to the ÂInvestors'' Education & Protection Fund'' Account during the year.

10 Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

Mar 31, 2012

Note 1 Corporate information

Balmer Lawrie Investments Limited (The Company) is a Government Company domiciled in India and incorporated under the provisons of the Companies Act, 1956. It's Shares are listed on two stock exchanges in India. The Company is not engaged in any other business activity, except, to hold the Equity Shares of Balmer Lawrie & Co. Ltd.

The Company is the holding company of Balmer Lawrie & Co. Limited(BL) by virtue of its acquiring 61.8% Equity Shares of BL from IBP Co. Ltd. through a Scheme of Arrangement and Reconstruction between IBP Co. Ltd., Balmer Lawrie Investments Limited and their respective shareholders and creditors in terms of Sction 391 to 394 of the Companies Act, 1956. The Scheme became effective on 5th February , 2002 with an appointed date of 15th October, 2001.

1,32,46,098 Equity Shares of the Company are held by President of India (including its nominees)

The Registered office of the Company situated at 21, Netaji Subhas Road, Kolkata - 700 001.

Note 2 Basis of accounting and preparation of financial statements

The financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting Principles in India (Indian GAAP) to comply with the Accounting Standards notified under the Companies (Accounting Standards) Rules 2006 (as amended) and the relevant provisions of the Companies Act, 1956. The financial statements have been prepared on accrual basis under the historical cost convention. The accounting policies adopted in the preparation of the financial statements are consistent with those of previous year.

Note : Rs. 10/- each was alloted as fully paid up shares pursuant to Scheme of Arrangement and Reconstruction between IBP Co. Ltd and Balmer Lawrie Investments Limited and their respective shareholders and creditors in terms of Section 391 to Section 394 of the Companies Act, 1956.

Of the above, the balances that meet the definition of Cash and cash equivalents as per AS 3 Cash Flow Statements is Rs. 4,959.09 lakhs Notes : Balances with banks - Other earmarked accounts include Rs. 82.91.335/- (As at 31 March, 2012) which have restriction on repatriation.

Scheme of Arrangement and Reconstruction

A Scheme of Arrangement and Reconstruction (the Scheme'),made under sections 391 to 394 of the Companies Act, 1956 ('the Act'), was executed by and beteween IBP Co. Ltd. (IBP) and Balmer Lawrie Investments Ltd. (the Company') and their respective creditors and shareholders. The Scheme under notification no. GSR/238 dated 2nd February 1978, was approved by the erstwhile Department of Company Affairs, Ministry of Law, Justice and Company Affairs, Govt. of India, was approved on 8th January 2002, with the appointed date of 15th October 2001 .Under the Scheme 1,00,64,700 Equity Shares of Rs. 10/- each, fully paid-up, of Balmer Lawrie & Co. Ltd. ('BL'). held by IBP, was transfered to the Company, whereby the Company became holder of 61.8% Equity Shares of BL. with effect from the aforesaid appointed date of the Scheme, i.e., 15th October 2001.

In consideration of transfer of the aforesaid shares of BL by IBP, the Company had alloted 2,21.47.269 equity shares of Rs.10/-each, fully paid-up to the shareholders of IBP (consideration other than cash), in the ratio of 1:1.

3. ii Non Banking Financial Company ('NBFC')

Balmer Lawrie Investments Ltd. is a NBFC under section 451 of Reserve Bank of India Act, 1934.

3. iii Public Deposit:

The Company has not accepted any Public deposit within the meaning of Section 45l(bb) of RBI Act 1934 during the year in question & the company has also passed resolution for non-acceptance of any Public Deposit.

3.iv Exemption From Reserve Bank of India ('RBI'):

On the basis of application made by the Company, RBI in exercise of their power conferred under section 45-NC of the Reserve Bank of India Act, 1934, has exempted the Company to comply with the formalities of compulsory registration and maintanence of minimum net owned funds, under the Notification No. DNBS.153/CGM(LMF)-2001 dated December 10, 2001, subject to the following conditions:

(a) The Company shall not conduct any business of financial institution as specified in section 45-l(c) and 45-l(f) of the RBI Act, 1934 other than acquiring the shares of BL from IBP;.

(b) The Company shall not deal with or transact in any other securities;

(c) The Company shall divest its shareholding and wind up its business on completion of disinvestment of shares of BL; and

(d) The exemption granted hereunder stands cancelled in the event of breach or any of the above conditions of the company.

3.v During the year the Company has made a provision for Income Tax amounting to Rs. 129.43 lacs under the normal provision of Income Tax Act 1961. (Previous Year Rs. 61.82 lacs under normal provision of The Income Tax Act. 1961)

3.vi Investment Details

The Company holds 61.8 % equity shares of Balmer Lawrie & Co. Ltd.(BL). Since the control in BL is intended to be temporary and there is no change of such intention, Consoldated Financial Statements of the Company with BL has not been drawn in terms of para 11 (a) of Accounting Standard 21 (AS-21) issued by the Chartered Accountants of India.

3.vii Agreement for Employee Benefits

The company has entered into Service Agreement with Balmer Lawries & Co. Ltd (BL) on 23rd June 2011 whereas BL shall act as a Service Provider to maintain Books of Accounts, Statutory Regsiters , provide services, in nature of administration , finance, taxation , secreatarial and other allied functions., provide office space and other requisite infrastructure.

Employee Expenses denotes remuneration payable to the Company Secretary, whose services have been seconded by the Service Provider and for which the Service Provider raises monthly bill upon the Company. All the necessary statutory obligations including PF, ESIC, TDS , Gratuity related to the Employee are being taken care by the Service Provider only.

3.viii Unpaid Dividend Accounts

The amount of dividend which remains un-claimed/un-paid for a period of seven years are transfered to the Investors and Education Protection Fund of Central Government. During the year under review, un claimed dividend (declared for the financial year 2003/04 - paid in October 2004), was transferred to the Investors' Education and Protection Fund of the Central Government. As on 31 st March 2011, the unclaimed dividend 2003-04 was Rs. 2,18,059.80, and during the period from 1st April 2011 till 30th October 2011, amount of warrants worth Rs. 2,457.80, were en-cashed, leaving a balance of Rs. 2,15,602 /-, which was transfered to the Investor Education & Protection Fund Account.

3.ix The Revised Schedule VI has become effective from 1 April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped/reclassified wherever necessary to correspond with the current year's classification/disclosure.

Mar 31, 2011

1. The Company is the holding company of Balmer Lawrie & Co. Limited (BL) by virtue of its acquiring 61.8% Equity shares of BL from IBP Co. Ltd, through a scheme of Arrangement and Reconstruction between IBP Co. Ltd., Balmer Lawrie Investments Limited and their respective shareholders and creditors in terms of Sections 391 to 394 of the Companies Act, 1956. The scheme became effective on 5 February, 2002 with an appointed date of 15th October, 2001.

2. 1,32,46,098 Equity Shares are held by President of India (including its nominees).

3. Related party disclosure

i) Name of Related Party Nature of Relationship

Balmer Lawrie & Co. Limited (BL) Subsidiary Company

Balmer Lawrie (UK) Ltd. (BL - UK) Wholly Owned Subsidiary of BL

PT. Balmer Lawrie - Indonesia An Associate on which the (BL-UK) is having

significant influence. Transafe Services Ltd. An Associate on which the subsidiary of the Company is having significant influence Balmer Lawrie-Van Leer Ltd. - Do -

Balmer Lawrie (UAE) LLC. - Do -

Avi - Oil India (P) Ltd. - Do -

Proseal Closures Ltd. Subsidiary of Balmer Lawrie Van Leer Ltd.

4. The Company holds 61.8% shares of Balmer Lawrie & Co. Ltd. (BL). However, since the control in BL is intended to be temporary because the Subsidiary (BL) has been acquired and held exclusively with a view to its subsequent disposal in future, Consolidated Financial Statements of the company with BL has not been drawn in terms of para 11 (a) of Accounting Standard Ã 21 Ã Consolidated Financial Statements issued by the Institute of Chartered Accountants of India.

5. Segment Reporting

The Company's only business is investment in its subsidiary Balmer Lawrie & Co. Limited, and hence segment reporting as envisaged by Accounting Standard 17 issued by the Institute of Chartered Accountants of India is not applicable to the company.

6. Earnings per share

i) Earnings per share of the company has been calculated considering the Profit after taxation of Rs. 24,22,81,697 as the numerator. (Previous year Rs. 21,11,20,889).

ii) The weighted average number of equity shares used as denominator is 2,21,97,269 (Previous year 2,21,97,269).

iii) Earnings per share ( Basic and Diluted ) for the year on the above mentioned basis comes to Rs. 10.91(Previous year Rs. 9.51)

7. Previous year's figures have been re-grouped or re-arranged wherever so required to make them comparable with current year figures.

Mar 31, 2010

1. The Company is the holding company of Balmer Lawrie & Co. Limited (BL) by virtue of its acquiring 61.8% Equity shares of BL from IBP Co. Ltd, through a scheme of Arrangement and Reconstruction between IBP Co. Ltd., Balmer Lawrie Investments Limited and their respective shareholders and creditors in terms of Sections 391 to 394 of the Companies Act, 1956. The scheme became effective on 5 February, 2002 with an appointed date of 15 October, 2001.

2. 1,32,46,098 Equity Shares are held by President of India (including its nominees)

3. Related party disclosure

i) NameofRelated Party Nature of Relationship

Balmer Lawrie&Co. Limited (BL) Subsidiary Company

Balmer Lawrie (UK) Ltd. Wholly Owned SubsidiaryofBL

PT. Imani Ganda Utama (PTIGU) - Indonesia An Associate on which BL (UK) Ltd. is having

significant influence

Transafe Services Ltd. An Associate on which the subsidiary of the Company is having significant influence

Balmer Lawrie-Van Leer Ltd. -Do-

Balmer Lawrie (UAE) LLC. -Do-

Avi-Oil India (P) Ltd. -Do-

Proseal Closures Ltd. Subsidiary of Balmer Lawrie-Van Leer Ltd.

5. The Company holds 61.8% shares of Balmer Lawrie & Co. Ltd. (BL). However, since the control in BL is intended to be temporary because the Subsidiary (BL) has been acquired and held exclusively with a view to its subsequent disposal in future, Consolidated Financial Statement of the Company with BL has not been drawn in terms of para 11 (a) of Accounting Standard - 21 - Consolidated Financial Statements issued by the Institute of Chartered Accountants of India.

6. Segment Reporting The Companys only business is investment in its subsidiary Balmer Lawrie & Co. Limited, and hence segment reporting as envisaged by Accounting Standard 17 issued by the Institute of Chartered Accountants of India is not applicable to the Company.

7. Earnings per share i) Earnings per share of the company has been calculated considering the Profit of Rs. 211123648 the numerator.

(Previous year Rs. 179617468). ii) The weighted average number of equity shares used as denominator is 2,21,97,269 (Previous year 2,21,97,269). iii) Earning per share ( Basic and Diluted ) for the year on the above mentioned basis comes to Rs 9.51 (Previous year Rs 8.09).

9. Previous years figures have been re-grouped or re-arranged wherever so required to make them comparable with current year figures.

Mar 31, 2003

1. The Company is the holding company of Balmer Lawrie & Co. Limited (BL) by virtue of its acquiring 61.8% Equity shares of BL from IBP Co. Ltd., through a scheme of Arrangement and Reconstruction between IBP Co. Ltd., Balmer Lawrie Investments Limited and their respective shareholders and creditors in terms of Sections 391 to 394 of the Companies Act, 1956. The scheme became effective from 5th February, 2002 with an appointed date of 15th October, 2001.

2, 1,32,46,068 Equity Snares are held by President of India.

4. Related party disclosure

i) Name of Related Party Nature of Relationship

Balmer Lawrie & Co. Limited (BL) Subsidiary Company

Balmer Lawrie (UK) Ltd. Wholly Owned Subsidiary of BL

Indian Container Leasing Company Limited A joint venture Company of BL

Balmer Lawrie - Van Leer Ltd. - Do -

Balmer Lawrie (UAE) LLC - Do -

Avi Oil India Ltd. - Do-

Proseal Closures Ltd. A Subsidiary of Balmer Lawrie - Van Leer Ltd.

5. The Company holds 61.8% Equity shares of Balmer Lawrie & Co. Ltd. (BL). Since the control in BL is intended to be temporary because the BL has been acquired and held exclusively with a view to its subsequent disposal in the near future, Consolidated Financial Statement of the company with BL has not been drawn in terms of para 11(a) of Accounting Standard - 21 - Consolidated Financial Statements issued by the Institute of Chartered Accountants of India.

6. Segment Reporting

The Companys only business is investment in its subsidiary i.e., Balmer Lawrie & Co. Limited, and hence segment reporting as envisaged by Accounting Standard 17 issued by the Institute of Chartered Accountants of India is not applicable for the company.

7. Earnings per share

i) Earnings per share of the company has been calculated considering the Profit (after Taxation) of Rs. 1,21,34,663 as the numerator. (Previous Year Rs. (-)14,38,768).

ii) The weighted average number of equity shares used as denominator is 2,21,97,269 (1,17,37,186).

iii) Earnings per share for the year on the above mentioned basis comes to Re. 0.55. (Previous Year Re. (-) 0.12)

8. a) Previous years figures have been re-grouped or re-arranged wherever so required to make them comparable with current year figures.

b) Figures in brackets relate to previous year.

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