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Notes to Accounts of BSEL Algo Ltd.

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 – 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 – 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 — Chairman

2. Key Management Personnel

Name of the Party Nature of Relationship

Kirit R. Kanakiya — Chairman

Dharmendra Raichura — 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 – 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.

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