PARVATI TEA COMPANY LIMITED

Kolkata

DIRECTORS' REPORT For the year ended 31't March, 2015.

your Directors have pleasure in presenting the 14th Annual Report together with audited Statements

of Accounts of the Company for the financial Year ended 31" March 2015:

The financial results of the Company for the year ended 31st March 2015 are enumerated below:

FINANCIAT RESULTS:

DIVIDEND:

The Directors of the Company do not recommend any Dividend for the financial year ended

31.03.2015 on Equity shares, whereas Rs. 4,66,393/- is declared as dividend on 30,000 (Face Value

Rs. 100/- each) 5% Cumulative Preference shares. The dividend tax including surcharge and

education cess amounting to Rs. 94,946/- shall be payable by the company on the said dividend.

DIRECTORS RESPONSIBITITY STATEMENT:

Your Directors would like to inform members that the audited accounts containing the Financial

Statements for the year 2014-15 are in full confirmity with the requirement of the Act and they

believe that the financial statements reflect fairly the form and substance of transactions carried out

during the year and reasonably present the Company's financial condition and results of operations.

These financial statements are audited by the Statutory Auditors M/s Salarpuria & Partners,

Chartered Accountants, Kolkata.

Your Directors further confirm that according to their information:

Particulars Year ended

31.03.2015

Year ended

31.03.2014

Amount(Rs.) Amount(Rs.)

Revenue From Operation

Profit Before Tax

Less: Current Tax

Profit After Tax

Net ProfitAdd: Balance Brought Forward From Previous Year

Less: Proposed Dividend on Preference Shares

Less: Tax @ 20.3576% on proposed dividend

Less: Transfer to Debenture Redemption Reserve

Balance Carried To Balance Sheet

3,O72,399 3,702,887

4,9L9,43O

(280,000)

4,539,430

3,194,938

(333,000)

2,86L,938

4,539,43O

t65,201,3202,961,938

L52,339,382

169,740,750

465,393

94,946

12,500,000

L65,2Ot,320

t56,679,4tL 165,2OL,32O

l. ln the preparations of the Annual Accounts, applicable accounting standards have been

followed and there are no material departures;

ll. The accounting policies are consistently applied and reasonable, prudent judgement and

estimates are made so as to give a true and fair view of the state of affairs of the Company

at the end ofthe financial year;

lll. That the directors had taken proper and sufficient care for the maintenance of adequate

accounting records in accordance with the provisions of this Act for safeguarding the assets

of the Company;

lV. That the directors had prepared the Annual Accounts on a going concern basis.

V. That there is adequate proper internal financial controls.with reference to the financial

statement have been laid down for the company and such internal financial controls are

adequate and were operating effectively.

Vl. That proper systems have been devised to ensure compliance with the provisions of all

applicable laws and such systems were adequate and operating effectively.

PARTICUTARS OF EMPTOYEES:

None of employees is covered under Section t97(1.2l read with Rule 5(2) of the Companies Act,

2013.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS BY COMPANY:

Details of Loans, Guarantees and Investments covered under the provisions of Section 186 of the

Companies Act, 2013 are given in the notes to the Financial Statements.

ENVIRONMENT AND SAFETY

The Company is conscious of clean environment and safe operations. lt ensures safety of all

concerned, compliance with environmental regulations and preservation of natural resources.

As required by the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal)

Act 2013, the Company has an internal policy on prevention of sexual harassment at workplace with

a mechanism of lodging complaints. During the year under review, no complaints were reported to

the Board.

DIRECTORS:

Shri R.K.Ganeriwala, Directors of the Company, retire by rotation and being eligible offer himself for

re-election.

EXTRACT OF ANNUAT RETURN

The details for the financial year ended 31't March, 2015 forming part of the extract of the annual

return is enclosed as Annexure-1.

NUMBER OF BOARD METTINGS

The Board of Directors met four times during the year ended 31't March, 2015 on 21't May, 20I4,!'t

August, 2OL4,28th November, 2014 and 3'd February, 2015.

CHANGES IN SHARE CAPITAT

During the year ended 31't March, 2015 there is no change in the issued and subscribed capital of

your ComPanY.

RELATED PARTY TRANSACTION

The details of the transactions with related party is given in the Financial Statement forming part of

the Annual RePort.

AUDITORS REPORT & ACCOUNTS:

The notes to the Accounts referred to in the Auditor's Report are self-explanatory and therefore do

not call for anY further comments'

Regarding auditors emphasis in their report, it is clarified that presently the Company is carrying out

the activities of finance, investment and allied activities and so it would be prudent to register it as a

Non Banking Finance Company with Reserve Bank of India for which necessary application is being

made to Reserve Bank of lndia.

AUDITORS:

M/s. Salarpuria & Partners, Chartered Accountants, Kolkata retire at the forthcoming Annual General

Meeting and being eligible offer themselves for re-appointment for the year 2OL5-2O1G which we

recommend.

ACKNOWLEDGEMENT:your Directors place on record their gratitude for the continuing support of Shareholders, bankers

and Business associates at all levels.

Registered office:Industry House (15th Floor)

10, Camac StreetKolkata-700017Dated, the 15th day of MaY, 2015

On behalf of the Board of Directors

For ParvatiTea ComPanY Limited

R.K.GANERIWALA(Director)

FORM NO. MGT 9

EXTRACT OF ANNUAL RETURN

As on financial year ended on 31.03.2015

pursuant to section g2 (3) of the Gompanies Act, 2013 and rule 12(1) of the company (Management & Administration) Rules' 2014.

.IS. No. Name and Description of main products i services NIC Code of the

ProducUservice

% to total turnover of the

c0mpany

1lnvestment

REGISTRATION & OTHER DETAILS:

17th October, 2001

Public Company: Limited bY shares

of the Registered office & contact details

10, Camac street

Nime, Address & contact details of the Registrar &

ffiOLOIHG, SUBSIDIARY AND ASSOCIATE COMPANIES

Name and address of the ComPanY

L1 549 1 WB 1 96 5PLC0127 7 IJay Shree Tea & lndustries Limited

Agent, if any.

SHARE HOLDING PATTERN

(i) Category-wise Share

Category of Shareholders N0. 0l shares held at he begtnntng 0l the year

(01.04.2014)

NO. Ol Snafes neE at ne eno 0l me year

(31.03.2015)

% ohange

during the

yealDemat Physical Total % ofTotal Demat Physical Total % ofTotal

Shares

l" Promoters

lndian

lndividual/ HUF 0,00% 0.00o/o

Cenhal C'ovt 0.00% 0.000/o

State C{vt(s) 0.00% 0.000/o

Eodies Corp. 0.00% 0.000/o

t Banks / Fl 0.00% 0.00o/o

Any other 0.00% 0,000/o

tub Total (A) (1) 0.00% 0.00%

Foreiqn

NRI Individuals 0.009 0,007

Other hdividuals 0.009 0.007

Bodies Corp. 0.009 0.007

,) Any other 0.009 0.007

;ub Total (A) (2) 0.00? 0.007

TOTAL (A) 0.009 0.007

Public Shareholding

l. lnstitutions

Mutual Funds 0.0070 0.00%

Banks / Fl 0.00%

Central Govt 0.00% 0.00%

State C'ovt{s) 0.0070 0.00o/o

, Venture Capital Funds 0.00% 0.00%

lnsurance ComDanies 0.00% 0,00%

Flls 0.00% 0.00"/.

h) Foreign Venture Capital 0.00% 0,00%

Funds

Others (speciry) 0.Of/o 0,0006

iub-total (BXi)i 0.00% 0.00% 0.00%

L Non-lnstitutions

rdies Corp. 0.00% 0,00%

lndian lUZ$ru( '102500( 100.009 102500( 102500( 100.007 0.007

Overseas 0.009 0.007

Individuals 0 0.00%

) Individual shareholders 0,009 0.0001

rolding nominal share

)apital upto Rs. 1 lakh

|) Indtvrdual snarenoloers 0.009 0.007

Dlding nominal share

)apital in excess of Rs 1

akn

Others (speciry)

ion Resident lndians 0.009 0.009

)verseas Corporatl

lodies

0.009 0,009

roreign Nationals 0.009 0.009

Members 0.009 0.009

lrusts 0.009 0.009

rBodies-DR 0.009 0.009

iub-total (BX2):- 1,025,000 1,025,000 100.009 1.025.000 1.025.000 100.009 0.009

1,025,000 1,02s,000 100.00? )00 100 100,009 0.009

,;, unares neto Dy

)ustodian for GDRs &

$Rs

0.009 0.009

irand Total (A+8+C) 1,025,000 1,025,000 100.000/ 1,025,000 1,025,000 100.009

(ii) Shareholding of Promoter- NIL

(iii)Change in Promoters' Shareholding (please specify, if there is no change)- NA

(iv) Shareholding Pattern of top ten Shareholders

(Other than Directors, Promoters and Holders of GDRs and

sl. No. Shareholding at the beginning Cumulative Shareholding at

For Each of the top tenshareholders

No. of shares % of totalshares of thecompany

No. of shares % ottotalshares ofthecomDanv

1

Jay Shree Tea & Industries

Ltd. and/or its nominees1025000 100.0070 1025000 100.00%

(V) Shareholding of Directors and Key Managerial Personnel: NIL

(Vl)INDEBTEDNESS: NIL

(Vll) REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL: NA

(Vlll) PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES: NONE

:d ,=,____4A-,/

fit,-.k:[',r/{."

-*4'41'*.:r I!4'u1l'lr

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I

SALARPURIA JAIODIA & CO.

7, Chittaranjan AvenueKolkata 7OO O72

Phone No.2237 S4A0 / OtFax No. :2225 0992

F,-mail : salarpuria.iaiodia@rediffmail.com

-a

-4 _+

Salarpuria €l PartnersCHARTERED ACCONTANTS

7, C R. AVENUE. KOLMTA - 7OO 072Phone .2237 5400 i 5401. 4014 54OO - 5410

e-rnail salarpuria. jajodia@rediffm arl comBranches at New Delhr & Bangalore

INDEPENDENT AUDITOR'S REPORT

To The Members of Parvati Tea Company Limited

Report on the Financial Statements

we have audited the accompanytng financial statements of Parvati Tea Company Limited (formerly

Parvati Tea company P]ivate Ltd) (..the company',) which comprise the Ba|ance SheFt as at 31d

March, 2015, the Siatement of profit ani Loss, the Cash Flow Statement for the year then ended, and a

summary of the significant accounting policies and other explanatory information'

Managemerit's Responsibility for the Financial Statements

The company's Board of Directors is responsible for the matters stated in section 134(5) of the companies

Act,2013(,,theAct,,)withrespecttothepreparationofthesefinancia|statementsthatgiveatrueandfairview of the financial position, financial perfoimance and cash flows of the company in accordance with the

accounting principles generally accepied in India, including the Accounting standards specified under

Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This respo-nsibility also

inc|udesmaintenanceofadequateaccountingrecordsinaccordancewiththeprovisionsoftheActforsafeguarding the assets of the company and for preventing and detecting frauds and other irregularities;

s"l"lion "nd

application of appropriate accounting policies; making judgments and estimates that are

reasonab|eandprudent;anddesign,imp|ementationandmaintenanceofadequateinterna|financiatcontrols,thatwereoperatingeffectivelyforensuringtheaccuracyandcomPletenessoftheaccountingrecords, relevant to the preparation and presentation of the financial statements that give a true and fair

view and.are free_from material misstatement, whether due to fraud or error'

Audito/s ResponsibilitY

Our responsibility is to express an opinion on these financial statements based on our audit'

we have taken into account the provisions of the Act, the accounting and auditing standards and matters

which are required to be included in the audit report under the provisions of the Act and the Rules made

thereunder.

We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of

the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit

toobtainreasonab|eassuranceaboutwhetherthefinanciaIstatements'arefreefrommateriaImisstatement.

Anauditinvo|Vesperformingprocedurestoobtainauditevidenceabouttheamountsandthedisc|osuresinthefinancia|statements.Theproceduresse|ecteddependontheauditor,sjudgment,inc|udingtheassessment of the risks of material misstatement of the financial statements, whether due to fraud or

error. In making those risk assessments, the auditor considers internal financial control relevant to the

company,s preparation of the financial statements that give a true and fair view in order to design audit

procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on

whether the company has in place an adequate internal financial controls system over financial reporting

and the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of

the accounting policies used and the reasonableness of the accounting estimates made !ompany's

t

d9

Directors, as well as evaluating the overall presentation of the financial statements'

-4 =4

Salarpuria I PartnelsCHARTERED ACCONTANTS

I

7 C R AVENUE KOLKATA - 7OO 072Phone 2237 5400 I 5401 4014 5400 - 5410

e-mail salarpuria 1a1odra@rediffmarl comBranches at New Delht & Bangalore

CAc

('1

:

,^

We beiieve that the audit evidence we have obtained is sufficient and appropriate to provide a basis for

our audit opinion on the financial statements.

Opinion

ln our opinion and to the best of our information and according to the explanations given to us, the

aforesaid financial statements give the information required by the Act in the manner so required and give

a true and fair view in conformity with the aicounting principles generally accepted in India, of the state of '

affairs of the Company as at 31't March, 2015, and its profit and its cash flows for the year ended on that

date.

Emphasis of Matters

we tlraw attention to the following matter in the Note-18(vi) to the Financial statements.

The compony is engoged in Non Banking Finoncial Activities. The boord passed o resolution on 28.02.2074

to cdrry the business of Non Banking Financiol Activities ond as exploined to us by the management

necessary opptication for registrotion with Reserve Bonk of lndia is in process.

Our opinion is not modified in respect of this matter'

Report on Other Legal and Regulatory Requirements

j.) As required by the Companies (Auditor's Report) Ordef, 2015 ("the Order"), issued by the Central

Government of lndia in terms of sub-section(11) of section 143 of the CompaniesAct, 2013, we give in

the Annexure a statement'on the matters specified in paragraphs 3 and 4 of the Order, to the extent

applicable.

Z) As required by Section 143 (3) of the Act, we report that:

(a) We have sought and obtained all the information and explanations which to the best of our

knowledge and belief were necessary for the purposes of our audit'

(b) In our opinion, proper books of account as required by law have been kept by the Contpany so far

as it appears from our examination of those books.

(c) The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by

this Report are in agreement with the books of account.

(d) In our opinion, the aforesaid financial statements comply with the Accounting Standards specified

under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

(e) On the basis of the written representations received from the directors as on 31't March, 2015

taken on record by the Board of Directors, none of the directors is disqualified as on 31st March,

2015 from being appointed as a director in terms of Section L64 l2l of the Act.

Kffi

4

Chartered AccountantMernbership No. - 069g6ZPtace: KotkatFartnerDate:i5lt1May, 2015

:€

Salarpuria I PartnersCHARTERED ACCONTANTS

7, C R AVENUE. KOLKATA -7OOO72Phone 2237 54OO | 5401.4014 5400 - 5410

e-mail . salarpuria.jajodia@rediffmarl comBranches at New Delhr & Banqalore

(f) with respect to the other matters to be included in the Auditor's Report in accordance with Rule

11 of the Companies (Audit and Auditors) Rules, 2074, in our opinion and to the best of our

informationandaccordingtotheexp|anationsgiventousbytheManagement.

i) The Company does not have any pending litigations as at 31't March, 2015 which would

impact its financial Position'

ii) The company did not have any long term contracts including derivative contract as at 31't

March, 2015.

iii) There were no amount which were required to be transferred to the investors education

protection fund bY.the comPanY'

(^For SalarPuria & Partners

Chartered Accountants

a'iis3$'ry{fiqp Si"gr'69""4'- ffl$.

#rt

'ANNEXURE TO THE INDEPENDENT AUDITOR'S REPORT

--4t

Salarpuria I PartnersI CHARTERED ACCONTANTS

7. C. R, AVENUE. KOLKATA -7OOO72Phone .2237 5400 / 5401. 4014 5400 ' 54'10

e-mail salarpurra.lalodta@redtffmall com

. Branches at New Delhr & Bangalore

=4

I

(ReferredtoParagraphlofReportonothe]Lega|andRegu|atoryRequirementsofourReportofeven

date)

onthebasisofsuchchecksasweconsideredappropriateandintermsoftheinformationandexP|anationsgiven to us, we state that:

.1) Since there is no Fixed Asset so comment on clause i(a) and i(b) is not applicable'

2) sincethereis no Inventory so comment on clauseii(alto ii(;) is notapplicable.

3) a) According to the information and explanations given to us, the Qompany has given unsecured loan

to a company listed in the register maintained under section 189 of Companies Act' 2013' against.

whom the maximum amountlutgtanding during the year was 96'73 lacs and there is no year end

balance of such loan.

b)Theprincipa|amountandinterestsarerepayab|eondemands,thereforethequestionofoverdueamount does not arise.

4)|nouropinionandaccordingtotheinformationandexp|anationsgiventous,thereisgeneral|yan'adequateinternalcontrotryrt"t.ot."n*ratewiththesizeoftheCompanyandthenatureofits

. business. for the purchase of Inventory and Fixed Assets and fot the sale of goods and services' During

the course of our assessment, no weakness in internal contrdl system had come to our notice'

5) According to the information and explanations given to us, there is no such deposits, taken by the'

company, for which directives issued by the Reserve Bank of lndia and the provisions of sections 73 to

T6oranyotherre|evantprovisionsofthecompaniesActandtheru|esframedthereunder,'arerequired to be comPiled with.

6) As explained to us by the ManaSement maintenance of cost records under sub section (1) of section

148 is not applicable.

7) According to the information and explanation given to us ,in respect of Statutory and other dues:

a)Thecompanyisgenerallyregularindepositingundisputedstatutoryduesincludingprovidentfund'employees, state insurance,lncome tax, sales tax, wealth tax. service tax, custom duty, excise duty,

value added tax, cess and other material statutory dues applicable to it with the approPriate

authoritiesandthereisnooutstandinSstatutoryduesasat3l.o3.20l5fortheperiodofmorethansix months from the date they became payable'

b)Accordingtotheinformationandexp|anationsgiventous,thereisnodisputedstatutorydues,which have not been deposited with the appropriate authorities'

c) There is no amount payable to investor education and protection fund as at 31" March, 2015.

8)Thecompanyhasnotincurredcash|ossesduringthefinancia|yearcoveredbyourauditanda|sointhe immediately preceding financial year.

9) On the basis of records examined by us and the information and explanations given to us, the Company

has not defaulted in repayment of dues to a Financial Institution or to Bank or Debenture holders'

_=€ ----=-J;--|'

Salarpfria tl PartnersCHARTERED ACCONTANTS

7, C R AVENUE. KOLKATA -7OOO72Phone '. 2237 5400 / 5401 , 4014 5400 - 5410

e-mail . salarpuria.jajodia@rediffmatl comBranches at New Delhr & Bangalore

10)

11)

72)

According to the information and explanations given to us, the Company has not given any guarantee

for loan taken by others from Bank or Financial Institutions'

As explained to us by the Management and information given to us, no Term Loan facility hai been

availed by the cornpany during the year, hence the question of application of fund does not arise'

During the course of our examination of the books and records of the Company' carried out in

agcordance with the generally accepted audit practices in lndia, and'according to the information and

explanation given to us, we have neither come across instance of'fraud on oi by the Company' noticed

or reported during the year, nor we have been informed of such case by the management'

For SalarPuria & PartnersChartered AccountantsFirm lCAl Reg. No.302113E

Sanresh $umqr Singh11 . yclAV^.:

Chartered AccountantMeinbership No. - 069367place: KolkatpartnerDate:t5nM ay,2ot5

-

CK

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Shareholder's Funds

Share Capital

Reserves and Surplus

Non-Current tiabilityLong Term Boriowing

Current [iabititiesShort-term borrowings

Trade payables

Other current liabilitiesShort-term provisions

1,29,50,000.00

63,t7,39,461.10

5,00,00,000.00

5,O0,OO,OO0.O0

92,39,465.52

6,6L,274.24

96,955.0027,5L,339.43

L,27,49,934.t9

7O,74,39,395.29

1,29,50,000.00

62.,77,6t,370.27

64,07,7L:,370.27

5,00,00,000.00

5,00,00,000.00

6,22,290.24

44,509.0015,10,000.00

27,76,799.24

69,29,99,169.51Total

Non-current assets

Non-cu rrent investmentsLong-term loans and advances

Current assets

Cash and Cash Equivalents

Short-term loans and advancesOther Current Assets

9

10

7I72

13

66,09,59,400.94

400,000.0055,13,59,400.94

30,950.33

4,L5,07,723.1245,41,32L.O0

4,60,79,994.45

7O,74,39,395.29

67,52,94,999.92

67,52,94,999.92

L6,747.99

1,71,50,427.494,36,103.72

'J,,76,03,279.59

69,29,99,169.51

significant Accounting poticies & other Notes to Accounts 1 & 1gThe accompanying notes are an integral part of the financial statements.As per our separate report of even date attached hereto.

For Salarpuria & PartnersChartered Accountants.

-r FirmlQfl[e9.No.302113_E-saryesn Kprna6 Singh

KNn'{r,Charscremmntenr

14...-:;"rbership Nc. , OSgg6TPlace : Kolkati:+r-ii1..;Date: ls|1'Mcq{r 0,0t5

(

For and on behalf of the Board

I'L(

A

Vltw*L'rA'ay

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Significant Accounting Policies & Other Notes to Accounts 1& 18The accompanying notes are an integral part of the financial statements.As per our separate report of even date attached hereto.

For Salarpuria & PartnersChartered Accountants.

For and on behalf of the Board

Firm lCAl Reg.No.302113E

Sarvesh iflr*y Singh&^\t<,

. .Charteredlffintentrvrei.ir,berslip No. - 06986?pa-rtner

r.(l*"1'1,*: ILL-

( (

Place : Kolkata

t,

il.

ill

Revenue from operationsOther lncomeTotal Revenue (l+ll)

Expenses:

Finanie costsOther expenses

Total Expenses

Profit/(Loss) before tax (1il - tV)

Tax expense:(1) Current tax (MAT)(2) Deferred tax

Xl. Profit/(Loss) for the period (tX - X)

Earnings per equity share:(1) Basic

-Before' Preference D ividen d-After Preference Dividend

(2) Diluted. -Before Preference Dividend

-After Preference Dividend

vt.

'J"4

15

15t7

18(viii)

30,72,399.7O'27,52,414.92

37,02,887.37

58,24,8t4.62 37,02,887.37

9,23,542,008t,842.36

3,94,520.55L,73,429.62

10,05,394.36 5,07,949.L7

48,t9,43O.26

(2,SO,OOO.O0)l

31,94,939.20

(3,33,000.00)

45,39,430.26

4.56

4.41

4.55

4.47

28,67,938.20

2.88

2.73

2.88

2.73

wDate : 15lfi *d, a0t5

Particulars Notes

For theYear Ended31.03:20-15 "

t

For theYear Ended31.03;2014

I

* 4r

A. CASH FIOW FROM OPERATING ACTIVITIES

Net Profit/(toss) Before tax' Adjustment for:Loss/( Profit) On Sale Of lnvestment(Net)

Operating Profit before Working. Caiital Changes

Movements In Working Capital :

lncrease/(Decrease) in trade payables

Increase/(Decrease) in Other Current LiabilitiesIncrease/{Decrease) in Short Term BorrowingsDecrease/(lncrease) in Short - Term Loans and AdvancesDecrease/(lncrease) in Other Current Assets

Cash generated from operations/(used in) Operations

Direct Taxes

Cash Flow before Extraordinary itemsExtraordinary itemsNet Cash from Operating Activities

B. CASH FIOW FROM INVESTING ACTIVITIES:Sale Of InvestmentProfit on sale on investmentPurchase Of lnvestment's

Net Cash from Investing Activities

C. I CASH FtOWf,ROM FINANCING ACTIVITIES :

Share issused

Share Premium Received

lssub of Debentures

Net Cash from Financing Activities

Net Decrease/ Increase in Cash and Cash Equivalent (A+B+C)

Opening Cash and Cash Equivalents

Closing Cash and Cash Equivalents

| 48,19,430

(27,25,51L1

20,g3,gtg

38,984

52,347' 92,39,466

(2,43,57,2961

(41,05,219)

(1,7o,37,7991

(1,70,37,7_ggl

(L,7O,37,799l.

1,43,26,499.27,25,\l

t,7o,52,000

30,950

31,94,939

-+ 31,94,939

1ts,z+,izz(2,29,74,599

7,53,79,979

(63,11,319)

(63,11,319

(63,11,319)

(4,48,25,560)(4,48,25,560'

s,oo,oo,ooo

5,00,00,000

(11,36,979)

rt,53,626

16,749

For and on behalf of the Board

4-L/,41r'{A"-(

, aols.

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Particulars

For theYear Ended31.03.20I-5

t

t-or theYear Ended31.03.2014

T

L4,2O2

L6,748

The above Cash Flow Statement is prepared as per AS-3 (tndirect Method)As per our separate report of even date attached hereto.

For Salarpuria & Partners

Chartered Accounta nts.Firm lCAl Reg.No.302113E

..: \'' : ir' ' .. ,...'

(

i "i!,;:rr'illa"; -r7,;,1_

Place : Kolkata

I

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-4 -4

a)

b)

c)

d)

NOTE 1 : SIGNIFICANT ACCOUNTTNG pOLtCtES & OTHER NOTES

i) STATEMENT OF ACCOUNTTNG POLICIES

System of Accounting:Acco!nts unless specifically stated to be otherwise have been prepared on accrual basis. subsidy and otherclaims, refunds etc.which are not ascertainable with reasonable certainty are accounted for on acceptanceof the same.

Use of Estimates :

The preparation of the financial statements in conformity with the generally accepted accounting principlerequires estimates and assumptions that affect the reported amount of assets and liabilities on the date ofthe financial statehents and the reported amount of revenue and expense during the year. Differencebetween the actuals and estimates are recognised in the year in which they are crystalised.

Investments :

Long term investments are carried at cost after providing for any diminution in the value, if such diminutionis of other than temporary nature. Increase in vatue of certain Investment on account of revaluation hasbeen credited to lnvestment Reserve & debited at the time of sale of such lnvestments.

current investments are stated at lower of cost or fair market vqlue.

Taxation :

Provision for Current Tax is being made based on the liabilities computed in accordance with the retevanttax laws. Provision for Deferred Tax is being made for the timing difference arising between taxable incomeand accounting income computed at the rates of tax enacted or substantivety enactgd as on Balance Sheetdate' Deferred Tax Assets are recognised only if there is a virtual certainty that they will be realised and arereviewed for appropriateness of their respective carrying values at each Balance Sheet date.

e) Borrowing Cost :

Borrowing cost attributable to acquisition and/or construction of qualifying assets are capitalised as a partof the cost of such assets upto the date when such assets are ready for intended use. other borrowing costsare recognised as an expense in statement of profit and Loss Account.

Provisions, Contingent Liabilities & Contingent Assets :

Provisions involving substantial degree of estimations in measurementpresent obligation as a result of past events and it is probable that therecontingent Liabilities are not recognised but disclosed in the Notes.recognised nor disclosed in the financial statements.

are recognised when there is a

will be an outflow of resources.Contingent Assets are neither

+ -€

Closs of Share

Equity Share of Rs.10 Each Fully paid up

E) No Equity Shares have been reserveddisinvestment as at the Balance Sheet date.

A) 5 % cumulative Preference share are redeemable at par in one or more installments at any time after the expiry ofSth year but before 10th year from the date of allotment, at the option of the company, unless otherwise agreed toby the company and the subscribers.

B) Reconciliation of shares outstanding at the beginning and at the ehd of the reporting period

No.

5,00,000Year

20tL-12

for issue under options and contracts/commitments

At the beginning of the periodlssued during the period

Outstanding at the end of the period

99,50,000.00

99,50,000.00

At the beginning of the periodlssued during the period

Outstanding at the end of the period

Equity Shares

Jay Shree Tea & Industries Limited (and its nominees)Holding Company

5% Cumulotive preference ShoresJay Shree Tea & tndustries Limited (Holding - Company)

o oq nnn

D) Aggregate No' of shares atloted as fully paid up pursuant to scheme of Arrangement for considerataon other than cash.

AUTHORISED SHARES

Equity shares10,00,000(10,00,000) shares of Rs. 10/_ each

Preference Shares

50,000(50,000) shares of Rs.100/- each

1,00,00,000.00

.50,00,000.00----._-1,50,00,000.00

99,50,000.00

99,50,000.00

30,00,000.00

1,29,50,000.00

1,00,00,000.00

50,00,000.00

1,50,00,000.00

99,50,000.00

99,50,000.00

30,00,000.00

1,29,50,000.00

Total

tSsuED, SUBSCRTBED & FULIY PAIDEquity shores

9,95,000(9,95,000) shares of Rs 10/_ each

Preference Shares3O,0OO(30,000) 5% Cumulative shares of Rs.10O/- each

4 - **-41

Amolgdmation Reserue (ot the begning and end of the year)Securities premium (at the begning and end of the yedr)lnvestment reserue'(at the begning ond end of the year)De be ntu re Red e m ption Re se rueOpenidg Balance

Add:Transfer from Surplus in the Statement of profit and Loss:Closing Balance

Surplus/(Deficit) in the Stotement of profit ora rcrr,'Opening Balance

Add: Profit/(Loss) For The year

Less: Proposed preference DividendLess: Proposed Distribution Dividend TaxLess: Transfer to Debenture Redemption ReserveClosing Balance

9,12,69,201.40

L8,t7,7O,O0O.oo

18,95,21.,949.00

1,25,00,000;0

1,25,00,000.00

16,52,01,3!9.97

45,39,430.25

4,65,393.00

94,946.43

1,25,00,000.00

15,66,79,4t0.7o

63,t7,39,46L.7O

9,12,69,207.4O

!8,77,7O,00o.0o

18,95,21,949.00

76,23,39,39L.67

29,6L,939.20

L6,52,OL,3L9.97

62,77,6L,370.27

Unsecured 7% Non Convertible DebenturesNon Convertible Debentures

(5,00,000, 1% Unsecured Non Convertible Debentures @ Rs.100/_ eachfully paid up and redeemabre after 7 years from the date of ailotment at par)

5,00,00,000.00

5,00,00,000.00

5,00,00,000.00

5,00,00,000.00

Unsecured

Loan from Holding Company (Repayable on demand) @12%(Jayshree Tea & Industries Ltd.)

92,39,465.52

92,39,465.52

'€:etc

-.9

ia

(a

,-4=

Provision for Income Tax

Provision for preference DividendProvision for Dividend Distribution Tax

21,90,000.00

4,66,393.00

94,946.43

27,51,339.43

15,10,000.00

15,10,000.00

II

.:l

ffi ffiE 6 : TRADE PAyABt ES

::.1 k;ff1;' ;,frril;;

Sundry Creditors for Goods & Services.

Total6,6t,274.24 6,22,2go.24

_ 6,22,290.246,6t,274.24

.r''..'..-1.,i

Statutory tiabilitiesTax Deducted at Source

96,955.00 _44,509.00Total 96,855.00 44,508.00

ili+; il*t€#r'

Total

(a

-4

4 ---#

. .--+

Interest on lncome Tax RefundNet gain /(loss) on sate of Long Term investments

26,904.0027,25,570.92

27,52,474.92

-

Interest on Debentures (Holding Company)4,23,542.@5,O0,000.00

9,23,542.00394520.55

3,94,520.55

S Kc'.lso,

Dividend Received

lnterest Received

t2,92,249.7O

17,90,150.00

27,91,339.25

15,77,549.L2

37,A2,997.37

Payment to AuditorsAs Auditors:

-For Audit Fees

-For Tox AuditInterest on late payment of TDSRates and Taxes

Filing Fees

Miscellaneous Expenses

50,562.00

3,933.00

4s00.003,600.00

19,247.36

91,942.36

50,562.00

39,452.00

2,510.0020,904.62

7,73,429.62

-9-E{€}

-4

lt

i) The Company has not received any memorandum (as required to be filed by the suppliers with the notified Authority under theMicro' small and Medium Enterprises Development Act, 2006) from suppliers claiming their status as micro or small enterprises.Consequently, required disclosures are NIL

ii) Related Party Discrosure (rn accordance with Accounting Standard 1g):

NOTE 18 : OTHER NOTES TO ACCOUNT

Name of Related parW

Jay Shree Tea & Industries Ltd.a) Loans & Advances (Net)

b) Interest paid on Loan

c) Interest Received

d) Unsecured Non-Convertible 500000 Debenture @100 eache) Interest on Debenturef) Amount outstanding in Current Loan Account

North Tukvar Tea Company Ltd.g) Saleof1,01,500 sharesof KiranVyaparltd.h) OutstandingReceivable

. Reiationshio Amount R) Amount (t)31.03.201s 31.03.2014

Holding Company

1,89,13,210.00

4,21,542.O0

5,00,000.00' 92,39,465.52

3,2s,88,343.4s

9,2tJ,4s2.00

5,00,00,000.00

3,94,520.s5

(96,73,744.48't

Fellow subsdiary

iii)

iv)

There is no balance written off during the year.

Disclosure as per Accounting standard 1s (Revised 2005) on Emproyee Benefits is Not Appricabre.

As a matter of prudence no deferred tax in accordance with Accounting standard 22 issued by the tnstitute of charteredAccountants of tndia has been created in the accounts.

v) There is no amount outstanding & payable to Investor Education & protection Fund as on 31.03.2015

vi) The Board of Directors in the meeting dated 28.02.2014 passed resorution to carry on the Non-Banking Financiar Activity and forwhich the company is in the process of obtaining certificate of Registration for Non Eanking Financial activity with the ReserveBank of India.

vii) The name of the company' Parvati rea company Private Limited has been changed to parvati Tea company Limited w.e.f.'08.08.2012.

viii) EARNING pER SHARE :

79,L7,OOO.OO

28,31,850.00

4s,39,430.26 .28,61,938.20

43,89,430.26 27,IL,938.209,95,000 9,95,000

4.56 2.884.47 2.73

For and on behalf of the Boaro

Net Profit/(Loss) before preference DividendNet Profit/(Loss) after preference DividendWeighted average number of shares outstanding of Rs.10/- eachBasic/Diruted Earning per share before preference DividendBasic,/Diluted Earning per share after preference Dividend

ix) Previous year figures have been re-grouped and re-crassified wherever necessary.

For Salarpuria & partners

Chartered Accountants.

(a)

(b)

(c)

(alc)(b/c)

Safli?i'6p??'302r13E

K:T singh

, c._l"ot"rHfu,rntant iiJHpi-*&e+shi; N;:" "''an E

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.+

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2074-20L5