2015 T OR REP ANNUAL Commodities Pvt Ltd...31st March 2015. PUBLIC DEPOSITS: The Company has not invited and/or accepted any public deposits during the period. DIRECTORS: Shri Ankit

BNK COMMODITIES PRIVATE LIMITED 12th

AN

NUA

L R

EPOR

T -2

015

AGM on 4th day of August 2015MAYFAIR TOWER, 2, Palm Avenue

Kolkata - 700 019, at 3.30 p.m.

CONTENT SNotice ............................................................................ 1

Directors' Report ............................................................ 2

Auditors Report .............................................................. 9

Balance Sheet ............................................................. 10

Statement of Profit & Loss ........................................... 10

Notes of Accounts ........................................................ 11

Cash Flow Statement ................................................... 15

BOARD OF DIRECTORSAJIT KHANDELWAL

SANJEEV KUMAR KHANDELWAL

ANKIT KHANDELWAL

AUDITORSM/S. R. BHATTACHARYA & ASSOCIATESChartered Accountants7B, Panchanantala Road,Kolkata - 700 029.

PRINCIPAL BANKERSHDFC Bank Ltd.

CIN: U74999WB2003PTC097491

REGISTERED / CORPORATE OFFICEMayfair Towers2, Palm Avenue,Kolkata - 700 019.

BNK COMMODITIES PVT. LTD.

NOTICENotice is hereby given that the 12th Annual General Meeting of the Members of BNK Commodities Private Limited will beheld at 3:30 P.M. on Tuesday, August 4th, 2015, at Mayfair Tower, 2 Palm Avenue, Kolkata - 700 019 to transact thefollowing business :As Ordinary Business1. To receive, consider and adopt the Audited Financial Statements of the Company for the financial year ended March,

31, 2015 together with the Report of Directors and Auditor's thereon.2. To re-appoint Shri Ajit Khandelwal (DIN: 00416445), who retires by rotation and being eligible, offers himself for re-

appointment.3. To ratify the appointment of Auditors and fix their remuneration and in this regard to consider and if thought fit, to pass,

with or without modification(s), the following resolution as an ordinary resolution:"RESOLVED that the appointment of M/s R. Bhattacharya & Associates, Chartered Accountants, (Registration No.307124E) be and is hereby ratified as Auditors of the Company, to hold office from the conclusion of this Annual GeneralMeeting till the conclusion of the next Annual General Meeting of the Company at such remuneration as may be fixedby the Board of Directors of the Company."

Registered Office : By order of the BoardMayfair Tower2, Palm Avenue Ajit KhandelwalKolkata - 700 019, India. DirectorCIN : U74999WB2003PTC097491Email : [email protected]. : (033) 30028578/579Dated : 29th May, 2015

Notes :1. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE ANNUAL GENERAL MEETING (AGM) SHALL BE ENTITLED

TO APPOINT ANOTHER PERSON AS PROXY TO ATTEND AND VOTE AT THE MEETING ON HIS BEHALF. APROXY NEED NOT BE A MEMBER OF THE COMPANY. PROXIES, IN ORDER TO BE EFFECTIVE, MUST BERECEIVED BY THE COMPANY NOT LATER THAN 48 HOURS BEFORE THE COMMENCEMENT OF THEAFORESAID MEETING.

2. Register of Members shall remain closed from 2nd August, 2015 to 4th August, 2015 (both days inclusive).


1

DIRECTORS' RESPONSIBILITY STATEMENT:Pursuant to Section 134(5) of the Companies Act, 2013 your Directors confirm:i) That in the preparation of the Annual Accounts, the applicable

accounting standards had been followed;ii) That they have selected such accounting policies and applied

them consistently and made judgments and estimates that arereasonable and prudent so as to give a true and fair view of thestate of affairs of the Company at the end of the financial yearand of the profit of the Company for that period;

iii) That they have taken proper and sufficient care for themaintenance of adequate accounting records in accordance withthe provisions of the Companies Act, 2013, for safeguarding theassets of the Company and for preventing and detecting fraudand other irregularities;

iv) That they have prepared the Annual Accounts on a 'GoingConcern' basis.

v) That they have laid down internal financial controls in the Companythat are adequate and were operating effectively.

vi) That they have devised proper systems to ensure compliancewith the provisions of all applicable laws and these are adequateand are operating effectively.

STATUTORY INFORMATION:The Company being in the Service sector, conservation of energyand technology absorption as specified under section 134(3)(m) ofthe Companies Act, 2013 read with rule 8 of the Companies (Accounts)Rules, 2014 has no significance for the Company.There is no earning and expenses in foreign exchange during the period.STATUTORY DUES:As on the date of this report, the Company does not have any statutory dues.PERSONNEL:None of the employees are covered by the provisions contained inRule 5(2) of the Companies (Appointment and Remuneration ofManagerial Personnel) Rules, 2014.INTERNAL CONTROL:Policies and system for internal control including financial and riskmanagement continued to be adequate and commensurate with sizeand level of operations of your Company.POLICIES:The Company has formulated and adopted various policies as requiredby Regulatory Bodies, Exchanges, and Companies Act, 2013, to theextent applicable and are reviewed, updated as and when required.EXTRACT OF ANNUAL RETURN:The details forming part of the extract of the Annual Return in FormMGT-9, as required under Section 92 of the Companies Act, 2013 isannexed as a part of the Report.RELATED PARTY TRANSACTIONS:The Board of Directors of the Company has adopted a policy to regulatetransactions between the Company and its related parties incompliance with the applicable provisions of Companies Act, 2013.The disclosure of related party transactions is made as per AS-18 inthe Notes to Financial Statements. However in terms of Section 188(1)of the Companies Act, 2013 read with Rule 15 of the Companies(Meeting of Board and its Powers) Rules, 2014, the Board feels thatthe transactions made are not material in nature as such no AOC-2 isannexed to this report.ACKNOWLEDGEMENT:Your Directors wish to place on record their appreciation of thecontinued support rendered by the Shareholders, Bankers, RegulatoryBodies, Employees, Central and State Government Agencies andBusiness Associates and Exchange Authorities. The directors alsoappreciate of the confidence of the clients reposed on the company.

For and on behalf of the BoardPlace : Kolkata Ajit KhandelwalDated : 29th May 2015 Director

DIRECTORS' REPORT TO THE MEMBERSYour Directors present before you the 12th Annual Report togetherwith Audited Accounts for the year ending 31st March 2015.OPERATION AND FUTURE PROSPECTSIn spite of global economic crisis, particularly in the Euro zone, highimport of crude & gold, high current account deficit, high interest rate,fall in exports, India has maintained a moderate growth of GDP. OurGDP grew @ 7.3 % P.A in F.Y.2014-15. The crises, specially of Greece,has made the financial markets very apprehensive and volatile. LokSabha elections in 2014 has given a decisive mandate in favor of BJPlead NDA. The Government under Prime Ministership of Mr. NarendraModi is moving forward with Growth and Governance as its mainagenda. Decline in international crude prices has been a blessing indisguise. The interest rates and inflation is also coming down. Thelarge projects which was held up for a long period of time is gettingcleared and is expected to resume. Expectation of Growth led goodgovernance, policy actions, have resulted in good sentiments and theforeign investors have started investments in Indian stocks in a bigway .This has resulted in the rise of "Nifty & Sensex" to high levels.We expect the markets to move positively after some consolidation intimes to come. "Make in India" programme of the Govt., if succeeds,shall change the face of the economy.FINANCIAL RESULTSThe financial performance of the Company, for the year ended 31stMarch 2015 is summarized below:

Year Ended Year Ended31st March 2015 31st March 2014

(` In Lacs) (` In Lacs)Gross IncomeProfit Before Interest & DepreciationFinance ChargeGross ProfitProvision for DepreciationNet Profit Before TaxProvision for TaxNet Profit After TaxBalance of Profit Brought ForwardBalance available for appropriationProposed Dividend on Equity SharesTax on Proposed DividendTransfer to General ReserveSurplus carried to Balance SheetDIVIDEND:Your directors do not recommend any dividend for the year ended31st March 2015.PUBLIC DEPOSITS:The Company has not invited and/or accepted any public depositsduring the period.DIRECTORS:Shri Ankit Khandelwal was appointed as a Director on the Board ofthe Company. In accordance with the provisions of the CompaniesAct, 2013 and the Articles of Association of the Company Shri AjitKhandelwal, Director of the Company retire by rotation at the conclusionof the forthcoming Annual General Meeting, and being eligible offerhimself for reappointment.AUDITORS:The Statutory Auditors, M/s. R. Bhattacharya & Associates, CharteredAccountants, (Registration No. 307124E), have given their consent andit is proposed to be ratified at the forthcoming Annual General Meeting.

26.9418.38

-18.380.31

18.073.29

14.78(136.59)(121.81)

---

(121.81)

4.62(8.23)

-(8.23)

0.02(8.25)

-(8.25)

(128.34)(136.59)

---

(136.59)


2


3


4


5


6


7


8

INDEPENDENT AUDITOR'S REPORTTO THE MEMBERS OF BNK COMMODITIES PVT. LTD.Report on the Financial StatementsWe have audited the accompanying financial statements of BNK Commodities Private Ltd. ("theCompany"), which comprise the Balance Sheet as at March 31, 2015, the Statement of Profit andLoss , Cash Flow Statement for the year then ended, and a summary of significant accountingpolicies and other explanatory information.Management Responsibility for the Financial StatementsThe Company's Board of Directors is responsible for the matters stated in section 134(5) of theCompanies Act, 2013 ("the Act") with respect to the preparation of these financial statements thatgive a true and fair view of the financial position, financial performance and cash flows of theCompany in accordance with the accounting principles generally accepted in India, including theAccounting Standards specified under section 133 of the Act, read with Rule 7 of the Companies(Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accountingrecords in accordance with the provisions of the Act for safeguarding the assets of the Companyand for preventing and detecting the frauds and other irregularities; selection and application ofappropriate accounting policies; making judgment and estimates that are reasonable and prudent;and design, implementation and maintenance of adequate internal financial controls, that wereoperating effectively for ensuring the accuracy and completeness of the accounting records, relevantto the preparation and presentation of the financial statements that give a true and fair view andare free from material misstatement , whether due to fraud or error.Auditor's ResponsibilityOur responsibility is to express an opinion on these financial statements based on ouraudit. We have taken into account the provisions of the Act, the accounting and auditing standardsand matters which are required to be included in the audit report under the provisions of the Actand Rules made thereunder.We conducted our audit in accordance with the Standards on Auditing specified under section143(10) of the Act.Those Standards require that we comply with ethical requirements and planand perform the audit to obtain reasonable assurance about whether the financial statements arefree from material misstatement. An audit involves performing procedures to obtain audit evidenceabout the amounts and disclosures in the financial statements. The procedures selected dependon the auditor's judgment, including the assessment of the risks of material misstatement of thefinancial statements, whether due to fraud or error. In making those risk assessments, the auditorconsiders internal financial control relevant to the Company's preparation of the financial statementsthat give a true and fair view in order to design audit procedures that are appropriate in thecircumstances. An audit also includes evaluating the appropriateness of accounting policies usedand the reasonableness of the accounting estimates made by Company's Directors, as well asevaluating the overall presentation of the financial statements.We believe that the audit evidence we have obtained is sufficient and appropriate to provide abasis for our audit opinion on the financial statements.

OpinionIn our opinion and to the best of our information and according to the explanations given to us, theaforesaid financial statements give the information required by the Act in the manner so required andgive a true and fair view in conformity with the accounting principles generally accepted in India:(a) In the case of the Balance Sheet, of the state of affairs of the Company as at March 31, 2015;(b) In the case of the Statement of Profit and Loss, of the profit for the year ended on that date; and(c) In the case of the Cash Flow Statement, of the cash flows for the year ended on that date.Report on Other Legal and Regulatory RequirementsI. As required by the Companies (Auditor's Report) Order, 2015 issued by the Central

Government of India in terms of sub-section (11) of section 143 of the Act,( hereinafterreferred to the "order"),and on the basis of such checks of the books and records of theCompany as we consider appropriate and according to the information and explanationsgiven to us, we give in the Annexure a statement on the matters specified in paragraph 3and 4 of the order.

2. 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 purpose of our audit;(b) in our opinion, proper books of account as required by law have been kept by the Company

so far as it appears from our examination of those books, and(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 written representations received from the directors as on March 31, 2015,and taken on record by the Board of Directors, none of the directors is disqualified as onMarch 31, 2015, from being appointed as a director in terms of Section 164(2) of the Act.

(f) with respect to the other matters to be included in the Auditor's Report in accordance withRule 11 of the Companies ( Audit and Auditors)Rules,2014, in our opinion and to the best ofour information and according to the explanations given to us;

i. The Company has disclosed the impact of pending litigations on its financial position in itsfinancial statements as referred to Note 26 to the financial statements.

ii. In our opinion and as per the information and explanations provided to us, the Company didnot have any long term contracts including derivatives contract for which there were anymaterials foreseeable losses.

iii. There has been no delay in transferring the amounts, required to be transferred, to theInvestor Education and Protection Fund by the Company.

For R. BHATTACHARYA & ASSOCIATESCHARTERED ACCOUNTANTS

Place : Kolkata ICAI Firm Registration No-307124EDate : 29th May, 2015 CA. RADHARAMAN BHATTACHARYA

ProprietorMembership No. - 12394

ANNEXURE TO THE INDEPENDENTAUDITOR'S REPORTReferred to in Paragraph 1 under the heading of "Report on Other Legal and RegulatoryRequirements" of our report of even date:(1) (a) The Company has maintained proper records showing full particulars, including

quantitative details and situation of fixed assets.(b) All the fixed assets have been physically verified by the management at reasonable

intervals and no material discrepancies were noticed on such verification.2. (a) Since the Company has no inventory in its books of accounts, the information required

to be given under sub clauses ( a) , (b)and (c) are not applicable to the Company.3. As informed to us, the company has not granted loans, secured or unsecured to companies,

firms or other parties covered in the register maintained under section 189 of the CompaniesAct 2013.Accordingly , the sub clauses (a) and ( b) are not applicable to the Company.

4. In our opinion and according to the information and explanations given to us, there is anadequate internal control system which commensurate with the size of the company andthe nature of its business with regard to purchases of securities, fixed assets and for thesale of services. During the course of our audit we have not observed any continuing failureto correct major weaknesses in internal control system.

5. According to the information and explanations given to us, the company has not acceptedany deposits in terms of directives issued by the Reserve Bank of India and the provisionsof sections 73 to 76 or any other relevant provisions of the Companies Act and the rulesframed there under.

6. We have broadly reviewed the books of account maintained by the Company pursuant tosub-section (1) of section 148 of the Companies Act, and are of the opinion that prima facie,the prescribed accounts and records have been made and maintained.

7. (a) The Company is regular in depositing undisputed statutory dues including, IncomeTax, Service Tax, Cess and other material statutory dues as applicable to the

appropriate authorities and no undisputed amounts payable in respect of the aforesaiddues were outstanding as on 31st March, 2015 for a period of more than six monthsfrom the date they became payable.

(b) According to the information and explanations given to us, no undisputed amount ispayable in respect of income tax or service tax or cess as on 31st March, 2015.

(c) In our opinion and according to the information and explanations given to us, amounts,any transfer to investor education and protection fund is not applicable to theCompany..

8. The Company has accumulated losses for a sum of Rs. 121.81 Lac at the end of the financialyear and it has not incurred any cash losses during the financial year as on that date or inthe immediately preceeding financial year.

9. According to the information and explanations given to us, the company has not defaultedin repayment of dues to any financial institution or bank or debenture holder as at the balancesheet date.

10. According to the information and explanations given to us, the company has not given anyguarantee for loans taken by others from Banks or any financial institutions.

11. According to the information and explanations given to us, the company did not have anyterm loans outstanding during the year.

12. Based upon the audit procedures performed and according to the information andexplanations given to us, no fraud on or by the company has been noticed or reportedduring the year of our audit.

For R. BHATTACHARYA & ASSOCIATESICAI Firm Registration No-307124E

CHARTERED ACCOUNTANTS (CA RADHARAMAN BHATTACHARYA)

Place : Kolkata ProprietorDate : 29th May 2015 Membership No. - 12394


9

BALANCE SHEET AS AT 31st MARCH, 2015Particulars Note No As at 31.03.2015 As at 31.03.2014

`(lacs) `(lacs) `(lacs) `(lacs)I. EQUITY AND LIABILITIES

(1) Shareholders' Funds(a) Share Capital 2 284.00 284.00(b) Reserves and Surplus 3 (121.81) 162.19 (136.59) 147.41

2) Current Liabilities(a) Trade payables 4(a) 0.31 0.21(b) Other current liabilities 4(b) 0.24 0.55 0.04 0.24

Total 162.74 147.65

II. ASSETS(1) Non-Current Assets

(a) Fixed AssetsTangible assets 5(a) 0.85 0.85 0.03 0.03

(b) Non-current investments 5(b) 35.42 35.42 56.69 56.69(2) Current Assets

(b) Trade receivables 6(a) 2.39 2.40(c) Cash and cash equivalents 6(b) 46.60 13.64(d) Short-term loans and advances 6(c ) 74.19 72.79(e) Other current assets 6(d) 3.30 126.48 2.09 90.93

Total 162.74 147.65

Significant Accounting Policies 1The accompanying notes 2 to 21 are an integral part of the financial statements.

STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 31st MARCH, 2015I. Revenue from operations 7 7.42 23.35II. Other Income 8 19.52 (18.73)III. Total Revenue (I +II) 26.94 4.62IV. Expenses:

Employees benefits expenses 0.65 0.42Depreciation and amortization expenses 5(a) 0.31 0.02Other expenses 9 7.91 12.43Total Expenses 8.87 12.87

V. Profit before exceptional and extraordinary items and tax(III-IV) 18.07 (8.25)VI. Profit before tax 18.07 (8.25)VII. Tax expense:

Current tax u/s 115JB 3.29 - -Adjustment against previous year - 3.29 - -

VIII.Profit (Loss) for the period (VI-VII) - 14.79 (8.25)IX. Earnings per equity share: 0.52 (0.29)

(1) Basic and Diluted (in Rs.)Significant Accounting Policies 1The accompanying notes 2 to 21 are an integral part of the financial statements.

O N B E H A L F O F T H E B O A R D

A. Khandelwal S. Khandelwal Ankit KhandelwalDirector Director Director

R.BHATTACHARYA & ASSOCIATESICAI Firm Registration No. 307124EChartered Accountants

CA. R. BhattacharyaProprietorMembership No.012394

Kolkata, 29th May, 2015.


10

Notes Annexed to and forming part of AccountsNotes to Financial Statements forming to and part of the BalanceSheet as at 31st March, 2015 and the Statement of Profit and Lossfor the year ended as on that date.Note No.1 SIGNIFICANT ACCOUNTING POLICIES

a) Corporate Information:BNK Commodities Private Limited is a Private limitedCompany domiciled in India and incorporated under theProvisions of the Companies Act, 1956. It is a member ofMCX, NCDEX and National Spot Exchange. It is asubsidiary Company of BNK Capital Markets Limited.

b) Basis of Preparation of Financial Statements:The financial statements have been prepared under ongoing concern assumption and under the historical costconvention in accordance with Generally AcceptedAccounting Principles in India and provisions of theCompanies Act, 2013.All Expenses and income to the extent ascertainable withreasonable certainty are accounted for on accrual basis.

c) Use of Estimates:The preparation of financial statements in conformity withgenerally accepted accounting principles (GAAP) requiresthe management to make estimates and assumptions thataffect the reported amounts of assets and liabilities as onthe date of financial statements and the amounts of revenueand expenses within the reported period. Differencebetween the actual results and estimates are recognizedin the period in which the results are known/materialized.All assets and liabilities have been classified as Currentand Non Current as per the Company's normal operatingcycle and other criteria set out in the Schedule III to theCompanies Act, 2013.

d) FixedAssets:All Fixed Assets are valued at cost less depreciation.An Asset is treated as impaired when the carrying cost ofasset exceeds its recoverable value. An impairment lossis charged to profit and loss account in the year in whichan asset is identified as impaired.

e) Depreciation:Depreciation is systematically allocated over the useful lifeof all tangible assets under Straight Line Method asspecified in part C of Schedule II of the Companies Act,2013.The Company had followed under W. D.V. method,for and upto the year ended 31st March 2015. Due to thechange of depreciation method the consequential impacton the depreciation charged for the year ended 31st March2015, since not being material, has not been separatelyconsidered.

f) Investments:Investments are readily realizable but intended to be heldfor more than one year from the date on which suchinvestments are made, are classified as Non CurrentInvestments, all other Investments are classified as currentInvestments.Investments are stated at cost.

On disposal of an Investment, the difference between itscarrying amount and net disposal proceeds is charged tothe statement of profit and loss, but if there is anyappreciation in the value of investments is generallyignored.

g) InventoryInventories are valued at lower of cost and net realizablevalue or at NAV in case of mutual fund.

h) Income Recognition:Revenue is recognized and reported to the extent it isprobable that the economic benefits will flow to the companyand the revenue can be reliably measured.Interest Income is recognized as and when the same hasaccrued on time proportion basis and company's right toreceive interest is established.Dividend Income is recognized when the same is receivedby the company.Income including interest/ discount or any other chargeson NPA is recognized when it is actually realized.The expenditure of the business are measured and takeninto account on accrual basis.

i) Employees Retirement & Other BenefitsShort term employees benefits are recognized in the periodin which employees' services are rendered.Leave Encashment benefit is considered and provided for,based on actual as at the financial year.

j) Income TaxesTax expenses comprise Current & Deferred Tax. CurrentIncome Tax is measured at the amount expected to bepaid to the Tax Authorities in accordance with the IncomeTax act, 1961.Deferred Taxes reflect the impact of the timing differencesbetween taxable income and the accounting incomeoriginating during the current year and reversal of timingdifferences for the earlier years. Deferred tax is measuredat substantively enacted tax rates by the Balance Sheetdate.Minimum Alternate Tax (MAT) if paid in a year is chargedto the Statement of Profit and Loss as Current Tax. Thecompany recognises MAT credit available as an asset onlyto the extent that there is convincing evidence that thecompany will pay normal income tax during the specifiedperiod i.e. the period for which MAT credit is allowed to becarried forward.

k) Provisions, Contingent Liabilities and Contingent AssetsProvisions involving substantial degree of estimation inmeasurement are recognized when there is a presentobligation as a result of past events and it is probable thatthere will be an outflow of resources. Contingent Liabilitiesare not recognized but are disclosed in the notes.Contingent Assets are neither recognized nor disclosed inthe financial statements.

l) Earnings Per Share (EPS)Basic EPS are calculated by dividing the net profit for theperiod attributable to the equity share holders (afterdeducting attributable taxes) by the weighted averagenumber of equity shares outstanding during the period.


11

Notes on Financial Statements for the Year ended 31st March 2015Particulars As at 31.03.2015 As at 31.03.2014

`(lacs) `(lacs) `(lacs) `(lacs)2 SHARE CAPITAL

Authorised30,00,000 Equity Shares of `10/- each 300.00 300.00Issued, Subscribed & Paid Up 28,40,000 Equity Shares of Rs.10/- each,fully paid up in cash. 284.00 284.00(Prev.Yr:28,40,000 Equity Shares of Rs.10/- each)

284.00 284.00Reconciliation of Equity Share of the company:Issued, Subscribed & Paid up:Number of Equity Shares at the beginning of the year 2,840,000 2,840,000Balance at the end of the year 2,840,000 2,840,000Details of Shareholder holding more than 5%of paid up Equity Share Capital: % of holding No. of Shares % of holding No. of SharesBNK Capital Markets Ltd. 56.69 1,610,000 56.69 1,610,000BNK Securities Pvt.Ltd. 43.31 1,230,000 43.31 1,230,000

3 RESERVES & SURPLUSSURPLUS FROM PROFIT & LOSS ACCOUNTS B/FBalance Brought Forward (136.59) (128.34)Add: Adjustment against earlier year - -Less:Profit/( Loss) for the year 14.79 (121.81) (8.25) (136.59)

(121.81) (136.59)

4 CURRENT LIABILITIES(a) Trade Payables

Trade Payables 0.31 0.31 0.21 0.21 0.31 0.21

(b) Other Current Liabilitiesfor other finance 0.14for Expenses 0.11 0.24 0.04 0.04

0.24 0.045 NON CURRENT ASSETS

(a) Tangible AssetsGross AmountOpening Balance B/F 2.68 2.68Additions during the Year 1.12 3.80 - 2.68

Less: DepreciationOpening Balance B/F 2.63 2.63Additions during the Year 0.31 (2.95) 0.02 2.65

Net Amount 0.85 0.03

Fixed Assets

TANGIBLE ASSETSComputer 2.68 1.12 3.79 2.63 0.31 2.95 0.84 0.04

2.68 1.12 3.79 2.63 0.31 2.95 0.84 0.04Previous Year 2.68 - 2.68 2.63 0.02 - 2.65 0.03 0.05

Particulars

GROSS BLOCK DEPRECIATION NET BLOCKAs On

01.04.2014Adjustment/Sale during

the year

As On31.03.2015

As On01.04.2014

Adjustment/Sale during

the year

Additionduring

the year

As On31.03.2015

As On31.03.2015

As On31.03.2014


12

Notes on Financial Statements for the Year ended 31st March 2015b) Non Current Investments(b) (i) Investments (at cost, Long term, Other than trade)Shares & Securities, Quoted F.V Quantity Amount Quantity AmountHCL Technologies Ltd 2.00 250 2.43 - -Jayshree Nirman Ltd. 10.00 46,000 6.23 46,000 6.23KEC International Ltd 2.00 5,000 5.38 - -Marksans Pharma Ltd. - - - 50,000 11.56Phillips Carbon Black Ltd. 10.00 7,958 9.38 - -Rallis India Ltd 1.00 500 1.05 - -RPG Life Science Ltd. 8.00 10,000 8.24 47,202 38.90Saregama India Ltd 10.00 2,000 2.71 - -

35.42 56.69In unquoted Equity Shares, at costOthers F.V Quantity Amount Quantity AmountAggregate market Value of quoted shares 43.26 46.58

43.26 46.586 CURRENT ASSETS

(a) Trade ReceivablesUnsecured, Considered GoodsTrade Receivables outstanding for a period less than Six monthsDue from related parties - -Others 2.39 2.39 2.40 2.40

2.39 2.40

(b) Cash & Cash Equivalents(i) Balances with banks

in Current Accounts 23.38 13.58(ii) Cash in liquid fund 23.00 -(ii) Cash in hand 0.22 46.60 0.06 13.64

46.60 13.64(c) Short Term Loans & Advances

(unsecured, considered good)(i) Deposit with Exchange 53.35 51.96(ii) Fixed Deposit with Exchange 20.84 74.19 20.83 72.79

74.19 72.79(d) Other Current Assets

Provision for taxation(net of tax) 0.52 -Service Tax 2.78 2.09

3.30 2.09

7 REVENUE FROM OPERATIONSInterest Income 2.70 1.73Profit in Commdities Trading 4.72 21.62

7.42 23.35

8 OTHER INCOMEDividend Received 0.84 0.57Profit/Loss on Sale of Non Current Investment 18.68 (19.30)

19.52 (18.73)


13

9 OTHER EXPENSESAdministrative & Other ExpensesDemat Charges 0.01 0.58General Charges 0.09 0.24Travelling Expenses 0.01 0.01Rent Rates & Taxes 0.10 0.11Listing &Filing Fees 0.05 0.07Auditors Remuneration 0.10 0.03Printing & Stationery 0.01 -Professional Fee 2.21 4.70Software Expenses 0.42 0.47Telephone & Lease Line Charges 1.91 3.50Membership &Subscriptions 1.00 0.75Transaction & Misc.Charges 2.00 1.96

7.91 12.43

Notes on Financial Statements for the Year ended 31st March 201510 In the opinion of the board of directors, all current assets, loans & advances have a value on realisation in the ordinary course of business at least equal

to the amount at which they are stated.11 Loan and advances given to parties are receivable on demand.12 Based on information available with the company, there are no clients/creditors who are registered under Micro, Small and Medium Enterprises Development

Act, 2006.13 There is no small scale industrial undertaking to whom the company owes amounts outstanding for more than 30 days as at 31st March,2015.14 TDS( Receivable) will be adjusted by the company on the completion of assessment of the income for the year by the Income Tax Department.15 In accordance with the revised Accounting Standard AS-15, i.e. Employee Benefits, the company has recognised the short term employee benefits

accordingly paid for the services rendered by the employee for that period. Long term benefis are not payable to the employee of the company, as thecompany is not under any statutory obligation as well as contractual obligation.

16 Related party disclosures in accordance with the Accounting Standard-18 issued by the Institute of Chartered Accountants of India are stated hereunder:List of related parties Transactions during the year with themi) Asian Securities Exchange Pvt Ltd Nilii) BNK Securities Pvt. Ltd. Niliii) BNK Comdex DMCC Niliv) Abacus Fund Services Pvt. Ltd. Nilv) Patrex Vyappar Ltd. Nilvi) In Media Computer Services LLP Nilvii) Multiple Infra Pvt Ltd Nil

17 Earnings Per shareParticulars As At 31.03.2015 As At 31.03.2014Profit After Tax 14.79 (8.25)Weighted average Number of Equity Shares outstanding 2,840,000 2,840,000Face Value of Share 10 10Basic & Diluted Earnings Per Share 0.52 (0.29)

18 Value of Imports on CIF basis (on accrual basis) Nil19 Foreign Currency Income & Expenditure

i) Income Nilii) Expenditure Nil

20 Remmittance in Foreign Currency on account of Dividend Nil21 Previous year's figures have been regrouped/reclassified, whenever necessary to confirm to this year's classification.




CA. R. BhattacharyaProprietorMembership No.012394Kolkata, 29th May, 2015.


14

CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH, 2015Particulars For the year ended For the year ended

31.03.2015 31.03.2014`(lacs) `(lacs)

A. CASH FLOW FROM THE OPERATING ACTIVITIESNet Profit before Tax from Continuing Operations 18.07 (8.25)Non Cash Adjustments to reconcile net cash flowAdjustments for :Depreciation & Amortisation 0.31 0.02Profit/(Loss) on Non Current Investment (18.68) 19.30Dividend Received (0.84) (0.57)Interest Received (2.70) (1.73)Interest Expenses - -

Operating Profit before Working Capital changes (3.83) 8.77Adjustments for :Trade & Other Receivable 0.01 (2.36)Trade Payable 0.30 0.20Cash generated from operations (3.52) 6.61Direct taxes Paid - -Cash Flow before extraordinary items (3.52) 6.61Extra Ordinary Items - -Net Cash Used in Operating Activities (3.52) 6.61

B CASH FLOW FROM THE INVESTING ACTIVITIESPurchase of Fixed Assets (1.12) -Sale of Fixed Assets - -Purchase of Investment (20.95) (56.69)Sale of Investment 62.58 63.66Dividend Received 0.84 0.57Net Cash Used in Investing Activities 41.36 7.54

C CASH FLOW FROM THE FINANCING ACTIVITIESProceed from issue of Share Capital - -Share Premium - -Proceed from Long / Short Term Borrowings - -Interest paid - -Loan Given/Refund Received (7.58) (7.58)Interest Received 2.70 1.73Net Cash Flow from Financial Activities (4.88) (5.85)

D Net Increase/(Decrease) in Cash & Cash Equivalent 32.96 8.30Cash & Cash Equivalent (Opening) 13.64 5.35Cash & Cash Equivalent (Closing) 46.60 13.64




CA. R. BhattacharyaProprietorMembership No.012394

Kolkata, 29th May, 2015.


15

Notes


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Documents

2015 T OR REP ANNUAL Commodities Pvt Ltd...31st March 2015. PUBLIC DEPOSITS: The Company has not invited and/or accepted any public deposits during the period. DIRECTORS: Shri Ankit