Mar 31, 2015
1. CORPORATE INFORMATION
Brand Realty Services Limited is a public company domiciled in India
and incorporated under the provisions of The Indian Companies Act,1956.
Its shares are listed on Bombay Stock Exchanges. Brand Realty Services
Limited is primarily engaged in the business of Real Estate and it has
started a new business acitivity as publishing of newspaper in the
field of real estate segment.
2. The Company has only one class of equity share having a par value of
Rs. 10/- per share. Each shareholder is eligible for one vote per
share. The dividend proposed by the Board of Directors is subject to
the approval of shareholders except in case of interim dividend. In the
Event of liquidation, the equity shareholders are eligible to receive
the remaining assets of the Company in proportion to their
shareholding.
** a)The Term Loan from Religare Finvest Ltd of rupees 95,00,000/- was
sanctioned on dated 15-10-2014 and the loan is repayable in 121 equally
monthly installment commencing from 01-11-2014 alongwith interest.
3. The Term Loan from BMW India Fin.Serv. Pvt.Ltd of rupees 22,00,000/-
was sanctioned against the car on dated 19-02-2014 and the loan is
repayable in 60 equally monthly installment commencing from 16-03-2014
alongwith interest.
* Other borrowing costs includes bank charges,commitment charges, loan
processing charges, guarantee charges, loan facilitation charges,
discounts / premiums on borrowings, other ancillary costs incurred in
connection with borrowings or amortisation of such costs, etc.
4. Contingent Liability not provided for:-
a) Bill discounted with the Bank Rs.: - Nil
b) Bank guaranty outstanding as on 31-03-2015 Rs.:- Nil
5. Deferred Tax Liabilities/(Assets)
a) The company is liable to regular tax and the provision of income tax
of Rs. 383,515/- has been made out of current profit.
Provision has also been done for the Deferred Tax Liabilities net of
Deferred Tax Assets amounting to a sum of Rs.278,699.00 out of current
year profit.
b) The Composition of timming difference of Deferred Tax Liabilties is
as under :
* On account of losses and Others (132,350.00)
* On account of Depreciation & Current
Period depreciation 2,528,267.00
Total Deferred Tax Liabilities 2,395,917.00
6. As per Accounting Standard 18 issued by the ICAI the
Companies/related parties and transaction with them are disclosed
below:
Related Parties
Key Management Personnel Relative to Key Management Personnel
(a) (b)
Sh Kamal Manchanda
Smt Aruna Manchanda
Enterprises over which (a) and (b) have
significant influence
(c)
Brand Realty Pvt. Ltd.
Tradewell Portfolios Pvt. Ltd.
Era Resorts Pvt Ltd Realtor Today Pvt Ltd
Sahil Securities Pvt Ltd
Subsidiary Company Ecopulse Infra Ltd
7. a) The balance of some accounts in Long Term Loans & Advances given,
Trade Receivable, Long Term Liabilities, Long Term Borrowings, Short
Term Borrowings, Trade Payable and Other Current Liabilities are
subject to reconciliation/confirmation and have been shown as per
values appearing in the books of accounts as good for recovery/payment
unless specifically provided for.
b) In the opinion of the Board, the Current Assets and Loans & Advances
would be,in the ordinary courses of business realize not less than the
value stated in the balance sheet.
c) The TDS receivable and Brokerage income are subject to
reconciliation with the 26AS of income tax.
d) Lease Hold Land: The company had purchased a residential plot in
NOIDA.The matter is in dispute regarding ownership and allotment. The
company is taking suitable legal action for this and the case is
pending at Allahabad High Court . The amount had been shown as fixed
assets in the Balance Sheet .
8. The company had invested Rs.465,000/- with Sahil and Elite Stock
Broking Pvt.Ltd - for share allotment money in the year 19971998 but
the shares were not alloted till date and amount shown under the share
application money (Pending for allotment). No business was done in the
company for last many years.
9. The Company has not received any information from parties, whether
they are covered under the MICRO, Small and Medium Enterprises
(Development) Act, 2006. Disclosure relating to amount unpaid at the
year-end together with interest payable, if any, as required under the
said Act are not ascertainable.
10. Previous year,s figures have been regrouped/reclassified, wherever
necessary, to correspond with the current year,s classification /
disclosure.
11. Significant accounting policies and practices adopted by the Company
are disclosed in the statement annexed to these financial statements as
Annexure I.
Mar 31, 2014
1. CORPORATE INFORMATION
Brand Realty Services Limited is a public company domiciled in India
and incorporated under the provisions of The Indian Companies Act,1956.
Its shares are listed on Bombay Stock Exchanges. Brand Realty Services
Limited is primarily engaged in the business of Real Estate.
The Company has only one class of equity share having a par value of
Rs. 10/- per share. Each shareholder is eligible for one vote per
share. The dividend proposed by the Board of Directors is subject to
the approval of shareholders except in case of interim dividend. In the
Event of liquidation, the equity shareholders are eligible to receive
the remaining assets of the Company in proportion to their
shareholding.
* a)The Term Loan from HDFC Bank of rupees 15,00,000/- was sanctioned
against the car on dated 12-11-2011 and the loan is repayable in 36
equally monthly installment commencing from 20-10-2011 alongwith
interest.
b)The Term Loan from BMW India Fin.Serv. Pvt.Ltd of rupees 22,00,000/-
was sanctioned against the car on dated 19-02-2014 and the loan is
repayable in 60 equally monthly installment commencing from 16-03-2014
alongwith interest
NOTES TO ACCOUNT AND OTHER DISCLOUSURE
2. Contingent Liability not provided for:-
a) Bill discounted with the Bank Rs.: - Nil
b) Bank guaranty outstanding as on 31-03-2014 Rs.:- Nil
3. Deferred Tax Liabilities/(Assets)
a) The company is liable to regular tax and the provision of income tax
of Rs. 300,000/- has been made out of current profit.
Provision has also been done for the Deferred Tax Liabilities net of
Deferred Tax Assets amounting to a sum of Rs.10,383.00 out of current
year profit.
4 a) The balance of some accounts in Long Term Loans & Advances given,
Trade Receivable, Long Term Liabilities, Long Term Borrowings, Short
Term Borrowings, Trade Payable and Other Current Liabilities are
subject to reconciliation/confirmation and have been shown as per
values appearing in the books of accounts as good for recovery/payment
unless specifically provided for.
b) In the opinion of the Board, the Current Assets and Loans & Advances
would be,in the ordinary courses of business realize not less than the
value stated in the balance sheet.
c) The TDS receivable and Brokerage income are subject to
reconciliation with the 26AS of income tax.
d) Service Tax paid/payable on commission/brokerage income and rented
income are subject to reconciliation with Service Tax Return.
5. The company had invested Rs.465,000/- with Sahil and Elite Stock
Broking Pvt.Ltd - for share allotment money in the year 1997-1998 but
the shares were not alloted till date and amount shown under the share
application money (Pending for allotment). No business was done in the
company for last many years.
6. The Company has not received any information from parties, whether
they are covered under the MICRO, Small and Medium Enterprises
(Development) Act, 2006. Disclosure relating to amount unpaid at the
year-end together with interest payable, if any, as required under the
said Act are not ascertainable.
7. Previous year''s figures have been regrouped/reclassified, wherever
necessary, to correspond with the current year''s classification /
disclosure.
8. Significant accounting policies and practices adopted by the
Company are disclosed in the statement annexed to these financial
statements as Annexure I.
Mar 31, 2013
1. Contingent Liability not provided for:-
a) Bill discounted with the Bank Rs.: - Nil
b) Bank guaranty outstanding as on 31 -03-2013 Rs.:- Nil
2. Deferred Tax Liabilities/(Assets)
a) The company is liable to regular tax and the provision of income tax
of Rs.8,17,227/- has been made out of current profit.
Provision has also been done for the Deferred Tax Liabilities net of
Deferred Tax Assets amounting to a sum of Rs. 1,79,223/- out of current
year profit.
3. a) Thebalance ofsome accounts in Long Term Loans & Advances given,
Trade Receivable, Long Term Liabilities, Long Term Borrowings, Short
Term Borrowings and Other Current Liabilities are subject to
reconciliation/confirmation and have been shown as per values appearing
in the books of accounts as good for recovery/payment unless
specifically provided for.
b) In the opinion of the board.the Current Asset and Loans & Advances
would be,in the ordinary courses of business realize not less than the
value stated in the balance sheet.
c) TheTDS receivable and brokerage income are subject to reconciliation
with 26 AS of Income Tax Act.
d) Service Tax paid/payable on commission/brokerage income and rental
income are subject to reconciliation with service tax return.
4. The company had invested Rs.465,000/- with Sahil and Elite Stock
Broking Pvt.Ltd - for share allotment money in the year 1997-1998 but
the shares were not alloted till date and amount shown under the share
application money (Pending for allotment). No business was done in the
company for last many years.
5. The Company had signed lease deed for property no.GF-18, at Omaxe
Mall.Patiala on 29-02-2012 with Titan Industries Ltd. As per Clause No.
4(a) of the deed lease rent @ Rs. 1,05,000/- per month was due from 16
Aug, 2011. The same was not provided in the book of accounts in the
previous year and now the same has been provided in the books of
accounts and shown in current year as prior period income.
6. Prior period income includes rental income received from Titan
Industries Limited rupees 6,30,000/- and rupees 1,20,060/- as
maintenance charges reimbursed from Titan Industries Ltd.
7. The Company has not received any information from parties, whether
they are covered under the MICRO, Small and Medium Enterprises
(Development) Act, 2006. Disclosure relating to amount unpaid at the
year-end together with interest payable, if any, as required under the
said Act are not ascertainable.
8. Previous year''s figures have been regrouped/reclassified, wherever
necessary, to correspond with the current year''s classification /
disclosure.
Mar 31, 2012
The Company has only one class of equity share having a par value of
Rs. 10 per share. Each shareholder is eligible for one vote per share.
The dividend proposed by the Board of Directors is subject to the
approval of shareholders except in case of interim dividend.In the
Event of liquidation, the equity shareholders are eligible to receive
the remaining assets of the Company in proportion to their
shareholding.
1. Contingent Liability not provided for:-
a) Bill discounted with the Bank Rs.: - Nil
b) Bank guaranty outstanding as on 31-03-2012 Rs.:- Nil
2. Deferred Tax Liabilities/(Assets)
a) The company is liable to regular tax and the provision of income tax
of Rs.2443614/- has been made out of current profit.
Provision has also been done for the Deferred Tax Liabilities net of
Deferred Tax Assets amounting to a sum of Rs.1353593/- out of current
year profit.
3 a) The balance of some accounts in Long Term Loans & Advances given,
Trade Receivable, Long Term Liabilities and Other Current Liabilities
are subject to reconciliation/confirmation and have been shown as per
values appearing in the books of accounts as good for recovery/ payment
unless specifically provided for.
b) In the opinion of the board,the Current Asset and Loans & Advances
would be,in the ordinary courses of business realize not less than the
value stated in the balance sheet.
4 The company had invested Rs.465,000/- with Sahil and Elite Stock
Broking Ltd - for share allotment money in the year 1997-1998 but the
shares were not alloted till date and amount is shown under the share
application money (Pending for allotment). There has been no business
done in the company for last many years.
5 The Company has signed lease deed for property no.GF-18, at Omaxe
Mall,Patiala on 29-02-2012 with Titan Industries Ltd. As per Clause No.
4(a) of the deed lease rent @ Rs.1,05,000/- per month was due from 16
Aug, 2011. The same has not been provided in the books of accounts.
The management was not sure as to the amount to be received.
6 There are no outstanding dues in respect of small scale industrial
undertakings as defined under clause (j) of section 3 of Industrial
(Development and Regulation ) Act, 1951 ( Previous year NIL).
7 The Revised Schedule VI has become effective from April 1, 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, 2010
1. Contingent Liability not provided for al Bill discounted with the
Bank Rs.: - Nil
b) Bank guaranty outstanding as on 31-03-2010 Rs.- NIL
2. a) The balance of some accounts in Loan & Advances recoverable in
cash or in kind, Share application money ( pending for allotment)
Debtors, Creditors & Current Liabilities are subject to
reconciliation/confirmation and have been shown as per values appearing
in the books of accounts as good for recovery/payment unleass
specifically provided for.
b) In the opinion of the board the Current Asset and Loans & Advances
would be, in the ordinary courses of business realize not less than the
value stated in the balance sheet.
3. The company had invested Rs.465,000/- with Sahil and Elite Stock
Broking Pvt. Ltd - for share allotment money in the year 1997-98 but
the shares were not alloted till date and amount shown under the share
application money (Pending for allotment). There has been no business
done in the Company for last many years.
4. Previous year figures have been reworked, regrouped, rearranged and
reclassified wherever considered necessary. Amounts and other
disclosures for the preceding year are included as an integral part of
the current year financial statements and are to be read in relation to
the amounts and other disclosures relating to current year.
5. Deferred Tax (Assets) / Liabilities
a) The company is liable to regular tax and the provision of income tax
of Rs. 7,74,566/- has been made out of current profit. Provision has
also been done for the Deferred Tax Liability net of Deferred Tax
Assets amounting to a sum of Rs.6,59,223/- out of current year profit.
6. As per Accounting Standard 18 issued by the ICAI the
Companies/related parties and transaction with them are disclosed
below:
Related Parties
Key Management
Personnel Relative to
Key Management
Personnel Enterprises over which (a)
and (b) have significant
influence
(a) (b) (c)
Sh Kamal Manchanda Brand Realty Private Limited
Smt Aruna Manchanda (Subsidiary Company)
Sh K L Manchanda Tradewell Portfolios Private
Limited
7. There are no outstanding dues in respect of small scale industrial
undertakings as defined under clause (j) of section 3 of Industrial
(Development and Regulation ) Act, 1951 ( Previous year NIL).
8. The company had accumulated reserve of rupees 34,33,083.00 under
RBI Act from the previous years and since the company had surrenderd to
RB; its registration certificat of NBFC, therefore there is no need to
show the fund seperately and the amount has been transferred to general
reserve.
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