| 1. Corporate Information
Bhilwara Tex-Fin Limited ("the Company") was incorporated on November
16, 1994 and obtained the certificate for Commencement of Business on
November 22, 1994 from Registrar of Companies under the provision of
the Companies Act, 1956. The main objects of the company are to provide
the fund based financial services etc. During the year under review,
the Company continued in business of investment & financing.
2. Contingent Liability is Nil. (Previous Year Nil).
3. Company does not have any employee eligible for gratuity.
4. Debit balances of debtors are subjected to confirmation and
reconciliation form respective parties. The final adjustment, if any,
in the account of parties shall be known only after confirmation /
reconciliation, the amount of which could not be ascertained.
5. Remuneration and perquisites to the directors is Rs. Nil.
6. There are certain parties to whom advances in the nature of loans
have been given by the company. As per management, principal and
interest thereon is recoverable at a later date as per stipulations
made with respective parties. As such, interest income is accounted for
on yearly basis, but their recovery is deferred to a later date.
7. Segment Reporting
The Company operates in one segment only namely Finance, Investment and
related consultancy. Therefore, information about segment reporting in
line with AS-17 of ICAI has not been given.
8. CIF Value of Import of Raw Materials Components, Spare parts &
Capital goods: Nil
a) Expenditure in Foreign Currency : Nil
b) Remittance in Foreign Currency : Nil
c) Earning in Foreign currency : Nil
(CIF Value in Exports)
9. Prudential Norms of the Reserve bank of India (RBI)
The Prudential Norms of the RBI require the company to derecognize
certain income and make provisions for nonperforming assets.
In compliance with Guidelines prescribed by Reserve Bank of India for
NBFCs, the Company has
a) Provided 0.25% of Standard Assets Amounting to Rs 13,97,150/-
(Previous year Rs. Nil).
b) Appropriated 20% of the Net Profit Rs.2,12,954/- (Previous year
Rs.1,19,601/- ) to Special Reserve fund.
10. Short Term Loans and Advance include Rs NIL due from a Director.
11. The company has no amounts due to suppliers under The Micro Small
and Medium Enterprises Development Act, 2006, [MSMED Act] as at 31st
March, 2015.
12. There are no amounts due and outstanding to be credited to
Investor Education & Protection Fund as at 31st March, 2015.
13. Previous year's figures have been regrouped and rearranged
wherever necessary.
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