Mar 31, 2015
Note : 1
The Company has only one class of shares referred to as equity shares
having a par value of Rs. 10/- Each Holder of equity shares is entitled
to one vote per share and dividend as and when declared by the Company.
In the event of liquidation of the company, the holders of equity
shares will be entitled to receive any of the remaining assets of the
company, after the distribution of all preferential amounts.
Note : 2
EMPLOYEES BENEFIT: AS-15
As per Accounting Standard 15 "Employee Benefits", disclosure of
employee benefits as defined in the accounting standard are given
below:
(a) Defined Contribution Plan
Company has made fixed contribution to Provident Fund at predetermined
rates to Provident Fund Commissioner of Rajasthan. The obligation of
the Company is limited to contribution. Amount recognized as expense in
Statement of Profit and Loss for the year is as under:
(b) Defined Benefit Plan-
The Company has defined benefit gratuity plan. Every employee who has
rendered continuous service of five years or more is entitled to get
gratuity at 15 days for each completed year or more subject to
provisions of The Payment of Gratuity Act, 1972. Company has invested
to meet its such liability with Life Insurance Corporation of India
under Group Gratuity Scheme. The liability for the same is recognized
as per actuarial valuation by LIC.
Note : 3
(a) Details of contingent liabilities as on 31.03.2015are as under
(a) Claims against company not acknowledged as debt of Rs. 151,200
(P.Y. 151,200)
(b) Disputed Demand for Income Tax A.Y. 2012-13, Matter under Appeal
with CIT(Appeals) Jaipur Rs. 86,000 (P.Y. NIL) Demand adjusted by I.T.
department out of refund for A.Y. 2013-14
(c) Disputed Demand for Service Tax For F.Y. 2005-06, Matter under
Appeal with CESTAT,
New Delhi of Rs. 9,82,032 (P.Y. Rs. 9,82,032) (Inclusive of Penalty)
(d) Disputed Demand for Service Tax For the period from Oct. 2007 to
March, 2010, Matter under Appeal with CEC, Jaipur Rs. 22,62,511 (P.Y.
22,62,511)
Note : In Addition interest may also be payable if case decided against
the company.
Note : 4
Accounting Standard 18 "Related Party Disclosure"
As per Accounting Standard 18, the disclosures of transactions with the
related parties as defined in the Accounting Standard are given below:
1. Relationships: -
a) Associate Companies/Concerns :
- Blossom Holidays (India) Pvt. Ltd.(Formerly Known as Bhandari Tourism
Finance Private Limited)
- Academy for Research & Training (India) Pvt. Ltd.
- Crown Tour and Travels
- Harwar Park and Spa Pvt. Ltd.
- Crystal Park Resorts Pvt. Ltd.
b) Key Management personnel:
- Mr. Bharat Raj Bhandari
- Mr. Kamlesh Bhandari
c) Relatives of Key management personnel and their enterprises where
transactions have taken place.
- Mr. Bharat Raj Bhandari
- Mr. Kamlesh Bhandari
- Mrs. Suman Bhandari
- Mrs. Chirali Bhandari
- Mr. Vipul Bhandari
- Mrs. Shaila Bhandari
- Mrs. Abhilasha Bhandari
- Mr. T.R. Bhandari
- Mrs. Alpa Bhandari
Note : 5
Information in respect of :
(a) Expenses in foreign currency in respect of foreign travel Rs. NIL/-
(Rs. 2,83,934/-)
(b) Earning in Foreign Currency:
Travelling ticket and tourism services Rs. 28,24,094/-(Rs. 46,06,235/-)
FOB value of Exports Rs. Nil (Rs. Nil )
(c) Foreign currency traded:
Purchased : Rs. Nil (Rs. Nil)
Sold : Rs. Nil (Rs. Nil )
NOTE: - Figure in brackets pertains to previous year.
Note : 6
Company has entered into agreement with Harwar Park & Spa (P) Ltd.
and Academy for Research & Training (India) (P) Ltd. (companies under
the same management) for taking the property of each company on lease;
security deposits amounting to Rs. 8,00,000 and Rs.15,00,000 have been
paid respectively to these companies.
Note : 7
There are no Micro and Small Enterprise to whom the company owes
dues on account of principal amount together with interest which are
outstanding for more than 45 days at the Balance Sheet date. Such
information and that given in "Trade Payables- Note No:-5" regarding
Micro and Small Enterprises has been determined to the extent such
parties have been identified on the basis of information available with
the company.
Note : 8
Balances of creditors, advances, debtors and other parties are
subject to their confirmation.
Note : 9
The Company's equity share got listed with BSE Ltd. w.e.f. July 4th
2014, under the direct listing norms. The equity shares of the company
were listed with Delhi and Jaipur Stock Exchanges. However, the said
regional stock exchanges have been closed.
Note : 10
All assets and liabilities are presented as Current or Non-current
as per criteria setout in Revised Schedule III to the Company's Act,
2013. Based on the nature of services rendered by the company, its
operations and realization, the company has ascertained its operating
cycle of less than 12 months. Accordingly 12 months period has been
considered for the purpose of Current / Non-current classification of
assets & liabilities.
Note : 11
Figures of the current & previous year have been rounded off to the
nearest rupees. Figures of previous year have been regrouped &
rearranged to make them comparable with the current year's figures.
Mar 31, 2014
Note No. 1-: Share Capital (Amount in Rs.)
Particulars As at As at
31.03.2014 31.03.2013
Authorised Equity Shares
40,00,000 (40,00,000) Equity
shares of Rs 10 each 40,000,000 40,000,000
Issued
31,00,000 (31,00,000) Equity
shares of Rs 10 each 31,000,000 31,000,000
Subscribed & Paid Up
31,00,000 (31,00,000) Equity
Shares of Rs 10/- each fully paid 31,000,000 31,000,000
31,000,000 31,000,000
* Figures in Bracket are of Previous Year.
The Company has only one class of shares referred to as equity shares
having a par value of Rs. 10/- Each Holder of equity shares is entitled
to one vote per share and dividend as and when declared by the Company.
In the event of liquidation of the company, the holders of equity
shares will be entitled to receive any of the remaining assets of the
company, after the distribution of all preferential amounts.
Reconciliation of the number of shares outstanding
Equity shares Equity shares
Particulars As at As at
31.03.2014 31.03.2013
Shares outstanding at the
beginning of the year 3,100,000 3,100,000
( ) Shares Issued during the year - -
(-) Shares bought back during the year - -
Shares outstanding at the end
of the year 3,100,000 3,100,000
EMPLOYEES BENEFIT : AS-15
As per Accounting Standard 15 "Employee Benefits", disclosure of
employee benefits as defined in the accounting standard are given
below:
(a) Defined Contribution Plan
Company has made fixed contribution to Provident Fund at predetermined
rates to Provident Fund Commissioner of Rajasthan. The obligation of
the Company is limited to contribution. Amount recognized as expense in
Statement of Profit and Loss for the year is as under:
(Amount in Rs.)
Particulars 2013-14 2012-13
Employer''s contribution to
P.F.,Pension Fund, E.D.L.I 589,130 578,421
Employer''s Contribution to E.S.I 297,478 287,596
TOTAL 886,608 866,017
(b) Defined Benefit Plan-
The Company has defined benefit gratuity plan. Every employee who has
rendered continuous service of five years or more is entitled to get
gratuity at 15 days for each completed year or more subject to
provisions of The Payment of Gratuity Act, 1972. Company has invested
to meet its such liability with Life Insurance Corporation of India
under Group Gratuity Scheme. The liability for the same is recognized
as per actuarial valuation by LIC.
2 Information in respect of :
(a) Expenses in foreign currency in respect of foreign travel Rs.
2,83,934/- (Rs. 2,46,481/-)
(b) Earning in Foreign Currency:
Travelling ticket and tourism services Rs. 40,81,375/- (Rs.
43,87,495/-)
FOB value of Exports Rs. Nil (Rs. Nil )
(c) Foreign currency traded:
Purchased : Rs. Nil (Rs. Nil)
Sold : Rs. Nil (Rs. Nil )
NOTE: - Figure in brackets pertains to previous year.
3 Company has entered into agreement with Harwar Park & Spa (P) Ltd.
and Academy for Research & Training (India) (P) Ltd. (companies under
the same management) for taking the property of each company on lease;
security deposits amounting to Rs. 8,00,000 and Rs.15,00,000 have been
paid respectively to these companies.
4 The Company had taken a Key man Insurance Policy of Managing
Director Shri Bharat Raj Bhandari which has been surrendered during the
previous year. Amount realised Rs. 25,00,439 has been account for as
other income.
5 There are no Micro and Small Enterprise to whom the company owes
dues on account of principal amount together with interest which are
outstanding for more than 45 days at the Balance Sheet date. Such
information and that given in "Trade Payables- Note No:-5" regarding
Micro and Small Enterprises has been determined to the extent such
parties have been identified on the basis of information available with
the company.
6 Balances of creditors, advances, debtors and other parties are
subject to their confirmation.
7 Vehicles valuing Rs. 21,24,500/- (P.Y. Rs. 29,81,616/-) having W.D.V
of Rs. 10,23,900/- (Rs. 16,84,190/- as on 31.03.2014 are awaiting
registration in the name of the company. However, the same has been
used exclusively for the purpose of business.
8 The Company had filled an application with BSE Ltd. for listing of
its equity shares under the direct listing norms. The information
memoradum and other related documents have been filed with BSE Ltd. on
29th January, 2014.
9 All assets and liabilities are presented as Current or Non-current
as per criteria set out in Revised Schedue VI to the Company''s Act,1956
Notified by the Ministry of Corporate affairs vide Notification No.
SO447(E) Dated 28th Feburary,2011 and SO653(E) Dated 30th March,2011.
Based on the nature of services rendered by the company, its operations
and realization, the company has ascertained its operating cycle of
less than 12 months. Accordingly 12 months period has been considered
for the purpose of Current / Non-current classification of assets &
liabilities.
10 Figures of the current & previous year have been rounded off to the
nearest rupees. Figures of previous year have been regrouped &
rearranged to make them comparable with the current year''s figures.
Mar 31, 2013
1 (a) Details of contingent liabilities as on 31.03.2013 are as under
:-
(Amount in Rs.)
Particulars 31.03.2013 31.03.2012
(a) Claims against company not
acknowledged as debt 151,200 151200
(b) Counter guarantees provided by
company to banks against guarantees
given by them - 1593000
(c) Disputed Demand for Income Tax
A.Y. 2009-10, Matter under Appeal
with CIT(Appeals) Jaipur 384,180 384180
(d) Disputed Demand for Income Tax
A.Y. 2010-11 Matter under Appeal
with CIT (Appeals), Jaipur 252,760 -
2 Accounting Standard 18 "Related Party Disclosure"
As per Accounting Standard 18, the disclosures of transactions with the
related parties as defined in the Accounting Standard are given below:
1. Relationships: -
a) Associate Companies:
- Blossom Holidays (India) Pvt. Ltd.(Formerly Known as Bhandari Toursim
Finance Private Limited)
- Academy for Research & Training (India) Pvt. Ltd.
- Harwar Park and Spa Pvt. Ltd.
- Blossom Holidays Pvt. Ltd.
- Cross Country Adventure (A unit of HEPL India Pvt. Ltd.)
- Crystal Park Resorts Pvt. Ltd.
b) Key Management personnel:
- Mr. Bharat Raj Bhandari
- Mr. Kamlesh Bhandari
c) Relatives of Key management personnel and their enterprises where
transactions have taken place.
- Mrs. Shaila Bhandari
- Mr. Bharat Raj Bhandari
- Mr. Kamlesh Bhandari
- Mrs. Kanchan Bhandari
- Mrs. Suman Bhandari
- Mrs. Chirali Bhandari
- Mrs. Ranju Bhandari
- Mr. Sagar Mal Bhandari
- Mr. Vipul Bhandari
- Mrs. Abhilasha Bhandari
- Mr. Alok Bhandari
- Mr. Manish Bhandari
- Mr. T.R. Bhandari
- Mrs. Alpa Bhandari
- Mr. Neeraj Bhandari
- Mr. Naveen Bhandari
3 Information in respect of:
(a) Expenses in foreign currency in respect of foreign travel Rs.
2,46,481 (Rs. 1,36,487)
(b) Earning in Foreign Currency:
Travelling ticket and tourism services Rs. 43,87,495/- ( Rs.
31,92,852/-) FOB value of Exports Rs.Nil (Rs.Nil )
(c) Foreign currency traded:
Purchased : Rs. Nil (Rs. Nil) Sold : Rs. Nil (Rs. Nil )
NOTE: - Figure in brackets pertains to previous year.
4 Company has entered into agreement with Harwar Park & Spa (P) Ltd.
and Academy for Research & Training (India) (P) Ltd. (companies under
the same management) for taking the property of each company on lease;
security deposits amounting to Rs. 8,00,000 and Rs.15,00,000 have been
paid respectively to these companies.
5 The Company had taken a Key man Insurance Policy of Managing
Director Shri Bharat Raj Bhandari which has been surrendered during the
year. Amount realised Rs. 25,00,439 hass ben account for as other
income.
6 There are no Micro and Small Enterprise to whom the company owes
dues on account of principal amount together with interest which are
outstanding for more than 45 days at the Balance Sheet date. Such
information and that given in "Trade Payables- Note No:-5" regarding
Micro and Small enterprises has been determined to the extent such
parties have been identified on the basis of information available with
the company.
7 Balances of creditors, advances, debtors and other parties are
subject to their confirmation.
8 Vehicles valuing Rs.29,81,616/- having W.D.V of Rs.16,84,190/- as on
31.03.2013 are awaiting registration in the name of the company.
However, the same has been used exclusively for the purpose of
business.
9 All assets and liabilities are presented as Current or Non-current
as per criteria setout in Revised Schedue VI to the Company''s Act,1956
Notified by the Ministry of Corporate affairs vide Notification No.
SO447(E) Dated 28th Feburary,2011 and SO653(E) Dated 30th March,2011.
Based on the nature of services rendered by the company, its operations
and realization, the company has ascertained its operating cycle of
less than 12 months. Accordingly 12 months period has been considered
for the purpose of Current / Non-current classification of assets &
liabilities.
10 Figures of the current & previous year have been rounded off to the
nearest rupees. The figures of the previous year have been regrouped &
rearranged to make them comparable with the current year''s figures.
Mar 31, 2012
1 (a) Details of contingent liabilities as on 31.03.2012 are as under
:-
(Amount in Rs.)
Particulars 31.03.2012 31.03.2011
(a) Claims against company not
acknowledged as debt 151200 140400
(b) Counter guarantees provided by
company to banks against guarantees
given by them 1593000 1593000
(c) Disputed Demand for Income Tax
A.Y. 2009-10, Matter under Appeal
with CIT(Appeals) Jaipur 384180 -
(b) Capital commitment for unexecuted work of fixed asset Rs.1,17,250/-
(net of advance paid Rs.3,50,000/-)(Previous year Rs. NIL).
2 Accounting Standard 18 "Related Party Disclosure"
As per Accounting Standard 18, the disclosures of transactions with the
related parties as defined in the Accounting Standard are given below:
1. Relationships: -
a) Associate Companies:
- Blossom Holidays (India) Pvt. Ltd.(Formerly Known as Bhandari Toursim
Finance Private Limited)
- Academy for Research & Training (India) Pvt. Ltd.
- Harwar Park and Spa Pvt. Ltd.
- Blossom Holidays Pvt. Ltd.
- Cross Country Adventure (A unit of HEPL India Pvt. Ltd.)
- Crystal Park Resorts Pvt. Ltd.
b) Key Management personnel:
- Mr. Bharat Raj Bhandari
- Mr. Kamlesh Bhandari
c) Relatives of Key management personnel and their enterprises where
transactions have taken place.
- Mrs. Shaila Bhandari
- Mrs. Suman Bhandari
- Mrs. Kanchan Bhandari
- Mrs. Chirali Bhandari
- Mrs. Shalini Bhandari
- Mr. Sagar Mal Bhandari
- Mrs. Ranju Bhandri
- Ms. Sanvi Bhandari
- Mr. Alok Bhandari
- Mr. Manish Bhandari
- Mr. R.R. Bhandari
- Mr. T.R. Bhandari
- Mrs. Alpa Bhandari
- Mr. Naveen Bhandari
- Mrs. Meera Bhandari
3 Information in respect of:
(a) Expenses in foreign currency in respect of foreign travel Rs.Nil
(Rs. Nil )
(b) Earning in Foreign Currency:
Travelling ticket and tourism services Rs.31,92,852/- ( Rs.29,37,554/-)
FOB value of Exports Rs.Nil (Rs.Nil )
(c) Foreign currency traded:
Purchased: Rs.Nil (Rs.Nil) Sold: Rs.Nil (Rs.Nil )
NOTE: - Figure in brackets pertains to previous year.
4 Company has entered into agreement with Blossom Holidays (INDIA) (P)
Ltd., Crystal Park Resorts (P) Ltd., Harwar Park & Spa (P) Ltd. and
Academy for Research & Training (India) (P) Ltd. (companies under the
same management) for taking the property of each company on lease;
security deposits amounting to
Rs.0,(Rs.50,00,000),Rs.0,(Rs.21,00,000),Rs. 8,00,000, (Rs.8,00,000) and
Rs.15,00,000,(Rs.15,00,000) have been paid respectively to these
companies. The agreement with Blossom Holidays (INDIA) (P) Ltd. and
Crystal Park Resorts (P) Ltd. has been terminated during the current
year.
5 The Company had taken a Key man Insurance Policy of Managing
Director Shri Bharat Raj Bhandari coverage under this policy is
continuing as on 31.03.2012. Premium for the year amounting to Rs.Nil
(Previous Year Rs. Nil/-).
6 There are no Micro and Small Enterprise to whom the company owes
dues on account of principal amount together with interest which are
outstanding for more than 45 days at the Balance Sheet date. Such
information and that given in "Trade Payables- Note No:-5" regarding
Micro and Small enterprises has been determined to the extent such
parties have been identified on the basis of information available with
the company.
7 Balances of creditors, advances, debtors and other parties are
subject to their confirmation.
8 Vehicles valuing Rs.29,81,616/- having W.D.V of Rs.19,67,444/- as on
31.03.2012 are awaiting registration in the name of the company.
However, the same has been used exclusively for the purpose of
business.
9 All assets and liabilities are presented as Current or Non-current
as per criteria setout in Revised Schedue VI to the Company''s Act,1956
Notified by the Ministry of Corporate affairs vide Notification No.
SO447(E) Dated 28th Feburary,2011 and SO653(E) Dated 30th March,2011.
Based on the nature of services rendered by the company,its operations
and realization, the company has ascertained its operating cycle of
less than 12 months. Accordingly 12 months period has been considered
for the purpose of Current /Non-current classification of assets &
liabilities.
10 Figures of the current & previous year have been rounded off to the
nearest rupees. The figures of the previous year have been
reclassified, regrouped & rearranged to make them comparable with the
current year''s figure to comply with the requirement of Revised
Schedule VI.
Mar 31, 2011
1. (a) Contingent liabilities not provided for:
(Rs. in Lacs)
AS AT AS AT
31.3.2011 31.3.2010
(i) Claims against company not
acknowledged as debt 1.40 1.30
(ii) Counter guarantees provided by
company to banks against 15.93 15.93
guarantees given by them
2. Disclosures with regard to mandatory Accounting Standard :- (a) As
per accounting Standard 15 "Employee Benefits", disclosure of employee
benefits as defined in the accounting standard are given below:
(b) Defined Benefit Plan-
The Company has defined benefit gratuity plan. Every employee who has
rendered continuous service of five years or more is entitled to get
gratuity at 15 days for each completed year or more subject to
provisions of The Payment of Gratuity Act, 1972. Company has invested
to meet its such liability with Life Insurance Corporation of India
under Group Gratuity Scheme. The liability for the same is recognized
as per actuarial valuation by LIC.
Actuarial Assumptions:
Discount Rate : 8% per annum
Mortality : LIC (1994-96) mortality tables
Withdrawal Rate : 1% to 3% depending on age
Salary Escalation : 7%
Valuation Method : Projected Unit Credit Method
The value of plan asset and present obligation at the end of the year
is Rs. 18,82,938/- and Rs. 16,71,206/- respectively. The excess of plan
asset over present obligation Rs. 2,11,732 (PY Rs. 2,17,538) has been
set out as prepaid expenses in Schedule-6.
(A) At present the company is carrying only the activity of tourism
business, hence Accounting Standard - 17 "Segment Reporting" is not
applicable. Accordingly segment-wise reporting is not given.
(B) Accounting Standard - 18 "Related Party Disclosure"
The company has identified all the related parties having transactions
during the year as per details given as under:
1. Relationships: -
a) Associate companies
- Bhandari Tourism Finance Pvt. Ltd.
- Academy for Research & Training (India) Pvt. Ltd.
- Harwar Park and Spa Pvt. Ltd
- Blossom Holidays Pvt. Ltd.
- Cross Country Adventure (A unit of HEPL India Pvt. Ltd.)
- Crystal Park Resorts Pvt. Ltd.
b) Key management personnel
- Mr. Bharat Raj Bhandari
- Mr. Kamlesh Bhandari
c) Relatives of key management personnel and their enterprises where
transactions have taken place.
- Mrs. Shaila Bhandari
- Mrs. Suman Bhandari
- Mrs. Kanchan Bhandari
- Mrs. Chirali Bhandari
- Mrs. Shalini Bhandari
- Mr. Vipul Bhandari
- Mr. Sagar Mal Bhandari
- Mrs. Ranju Bhandari
- Ms. Sanvi Bhandari
- Mr. Alok Bhandari
- Mr. Manish Bhandari
- Mstr. R. R. Bhandari
- Mr. T. R. Bhandari
- Mrs. Alpa Bhandari
- Mrs. Meera Bhandari
2. Transactions carried out with related parties referred in (1)
above, in ordinary course of business.
4. Information in respect of....
(a) Expenses in foreign currency in respect of foreign travel
Rs.Nil (Rs.Nil /-) (b Earning in Foreign Currency:
Travelling ticket and transport services
Rs. 29,37,554/- (Rs. 19,34,915/-)
FOB value of exports Rs. Nil (Rs. Nil) (c) Foreign currency traded:
Purchased. Rs.Nil (Rs. Nil)
Sold. Rs. Nil/- (Rs.Nil)
NOTE:-Figure in brackets pertains to previous year.
5. Travelling expenses includes Rs. 2,18,248/-(Previous year Rs.
1,59,912/-) incurred by Directors.
6. Receivables include Rs. NIL (Previous year Rs. 4.26 Lacs) due from
Company, Blossom Holidays Pvt Ltd, under the same management within the
meaning sub section (1-B) of section 370 of the Companies Act, 1956.
Company has entered into agreement with Bhandari Tourism Finance (P)
Ltd., Crystal Park Resorts (P) Ltd., Harwar Park & Spa (P) Ltd. and
Academy for Research & Training (India) (P) Ltd. (companies under the
same management) for taking the property of each company on lease;
security deposits amounting to Rs. 50 lacs, Rs. 21 lacs, Rs. 8 lacs,
and Rs. 15 lacs have been paid respectively to these companies.
7. The Company had taken a Key man Insurance Policy of Managing
Director Shri Bharat Raj Bhandari. Premium for the year amounting to
Rs.Nil (Previous Year Rs.Nil/-) The coverage under this policy is
accounting as on 31.03.2011.
8. There are no Micro, Small and Medium Enterprises to whom the
company owes dues on account of principal amount together with interest
which are outstanding for more than 45 days at the Balance Sheet date.
Such information and that given in "Current Liabilities  Schedule 8"
regarding Micro and Small Enterprises has been determined to the extent
such parties have been identified on the basis of information available
with the company.
9. Balances of creditors, advances, debtors and other parties are
subject to their confirmation.
10. Vehicles valuing Rs. 29,81,616/- having W.D.V. of Rs. 22,50,697/-
as on 31.03.2011 are awaiting registration in the name of the company.
However, the same has been used exclusively for the purpose of
business.
11. Figures of Balance Sheet, Profit and Loss account and related
Schedules have been rounded off to the nearest rupee. Figures of
previous year have been regrouped and rearranged, wherever necessary,
to make them comparable.