1 CORPORATE INFORMATION
Bagadia Colourchem Limited is a Public Limited Company listed on BSE
Ltd. [Formerly known as the Bombay Stock Exchange Ltd.]. It is in the
field of manufacturing of dye intermediates'' having its manufacturing
facilities at MIDC'' Mahad.
2 The Company has only one class of shares referred to as Equity Shares
having a par value of Rs.107- each. Each holder of Equity Shares is
entitled to one vote per share.
3 In case any dividend is declared and paid it is done in Indian
rupees. The dividend proposed'' if any'' by the Board of Directors is
subject to the approval of the shareholders in the ensuing Annual
4 The Company has not declared or paid any dividend during the year or
in respect of the year ended on 31s'' March'' 2012.
5 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 distribution of all preferential amounts. However'' no
such preferential amounts exist currently. The distribution will be in
proportion to the number of Equity Shares held by the shareholders.
6 The Company is neither a Holding Company nor a Subsidiary Company of
any other Company.
7 Contingent Liability tor counter guarantee given for obtaining Bank
Guarantee Rs. 12''500/- (Previous Year Rs. 25''000/-)
8 The Company has not received information from vendors regarding
their status under the Micro'' Small and Medium Enterprises Development
Act'' 2006 and hence disclosures relating to amounts unpaid as at the
year end date'' together with interest paid / payable under this Act''
have not been given. The same has been relied upon by the Auditors.
9 The disclosures as required under the Accounting Standard 15 are as
a) Defined Benefit Plan
The Company has obligations towards the following under Defined Benefit
Gratuity has been provided for on the basis of full value of company''s
liability on the year end day.
2 Leave Salary / Wages :
No leave is accumulated beyond one year. Provision is made for leave
accumulated at the end of every year and is paid generally in the next
3 Bonus :
Provision for bonus is made for every year and is paid generally in the
4 Medical Allowance :
A pre determined allowance for Medical Expenses is paid / provided on a
9.1 Information about Secondary Business Segments :
Not applicable since no secondary segment is identified as the company
operates in a single business segment of manufacturing of dye
30 As required by accounting Standards - 18 Related Party Disclosure
is made as under;
A. Names of Related Parties and Description of Relationship with whom
there were no transactions during the year. Associates & Joint
a) Sandeep Electronics Private Limited;
b) City Cloth Stores
B. Names of Related Parties and Description of Relationship with whom
there were transaction during the year. : Directors & Relatives
a) Mr Natwrlal R. Bagadia'' Chairman & Managing Director;
b) Mr Sushil N. Bagadia'' Joint Managing Director;
c) Mr R. R. Gune'' Director;
d) Mr Vilas Jagtap'' Director;
e) Mr Dattatraya M. Mehta'' Director;
f) Mrs Sangeeta Sushil Bagadia'' Director;
g) Mr Shashikant Kakade'' Director.
10 Details of leasing arrangements
The Company has entered into operating lease arrangements for factory
premises'' office premises and vehicles. .
The leases are for a period of 11 months to 95 years and may be renewed
for a further period based on mutual -^ agreement of the parties.
11 The Revised Schedule VI has become effective from 1st 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.