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.
17.76 Lacs (Previous Year :— Sale of net fixed assets of Rs. 5.46 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.
ft. 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, 2011. (Previous
Year Tax:- Nil).
8. Earning/Expenditure in Foreign Currency
Earning: - C Nil (Previous Year:- Rs. Nil)
Expenditure:- Rs. Nil (Previous Year:- Rs. Nil)
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 — 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 Investments 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.
I. Total Bizcon Solution Limited.
m. Western Bizcon Services Ltd.
n. Contact Consultancy Services Pvt. Ltd.
o. 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/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.
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.105,346/- (Previous
Year Rs. 576,000/-) is made towards Gratuity liability as on 31.03.2011
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.
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, 2011 is
Rs.1,355,366/-.
24. Other additional information pursuant to Schedule VI Part II of
the Companies Act, 1956 are not applicable to the Company.
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