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Bombay Swadeshi Stores
BSE: 531276|ISIN: INE595B01027|SECTOR: Trading
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Bombay Swadeshi Stores is not listed on NSE
« Mar 12
Notes to Accounts Year End : Mar '13
1 Company Background
 
 The Company was incorporated in 1905. The Company is in business of
 retailing of variety of household, gifts, artefacts & other consumable
 products through its stores.
 
 2.  Contingent Liabilities:
 
 i.  Service Tax liability of Rs 145,899/- (Previous year Rs 145,899/-).
 
 3.  The Company considers its entire operations under single segment
 ''Retailing''. The Company''s operations are only in India.
 
 4.  Earning per share has been computed with reference to profit after
 tax of Rs 1,518,951 (Previous year Rs 668,114/-) and weighted average
 number of equity shares 49,40,000 shares (Previous year 49,40,000)
 There is no diluted earning per share as there are no dilutive
 potential equity shares.
 
 5.  The Company has, on prudence not recognised Deferred Tax Assets Rs
 5,618,578/- (Previous year X 5,830,052/-) mainly representing expenses
 allowable for tax purposes when paid and difference between tax and
 book written down value of fixed assets, due to uncertainty of future
 profits in terms of Accounting Standard 22 (AS-22) for Taxes on Income
 issued by The Institute of Chartered Accountants of India.
 
 6.  Related Party Disclosures A. Relationship
 
 I) Subsidiary Company
 
 Bombay Store Retail Company Limited
 
 II) Key Management Personnel & Relatives:
 
 Mr. Milan Dalai - Chairman Mr. Asim Dalai - Manging Director
 
 Mr. Satyen Dalai - Relative Mr. Bhupen C. Dalai - Relative
 
 Mrs. Rekha Dalai - Relative Mrs. Aditi Dalai - Relative
 
 Mrs. Veena Dalai - Relative
 
 III) Other Parties / Enterprises where control / significant influence
 exists.
 
 Gateway International Pvt. Ltd. Grishma Constructions & Trading Co.
 Pvt. Ltd.  Cifco Limited ASDA Trading Company Pvt. Ltd.
 
 Western Press Pvt. Ltd.  Milan Investments Pvt. Ltd.
 
 M/s S. Ramdas FOCL (MALDIVES) PVT LTD
 
 Elephant Company Retail Pvt, Ltd.
 
 Related party relationship is as identified by the Company and relied
 on by the Auditors.
 
 7.  Earning in Foreign Exchange:
 
 i.  FOB value of exports of goods NIL I- (Previous year NIL/-).
 
 ii.  Receipts on account of sale of merchandise Rs 31,404,496/-
 (Previous year Rs 38,553,870/-).
 
 8.  CIF Value of Imports : Goods Rs NIL/- (Previous year Rs NIL/-).
 
 9.  Expenditure in Foreign Currency:
 
 Other Expenses Rs 161,344/- (Previous year Rs 268,248/-).
 
 10.  Previous year''s figures have been regrouped / re-arranged /
 reclassified wherever necessary.
Source : Dion Global Solutions Limited
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