| COMPNAY OVERVIEW
Bloom Industries Ltd. Is a Iron Industry, Trading & providing Sharing,
decoiling, Corrugation with Labour Job Work & Warehousing Charges
Received at its factories located at Taloja, Dist.-Raigad
(Maharashtra).
1. CONTINGENT LIABILITY NOT PROVIDED FOR
As at 31.03.2014 As at 31.03.2013
(Rs. in Lakh) (Rs. in Lakh)
(a) Estimated amounts of
Capital contract NIL NIL
(b) The Income tax summary assessment u/s 143(1) have been completed
upto Assessment year 2011-2012.
The Company has received a FBT summary assessment U/s. 115WE for
Assessment year 2008-2009 on which a demand for Rs.34,000/- is raised
However on the letterdemand credit for Self Assessment FBTTax paid is
Rs. 29,699/- not given. The Company has filed a reply to the concern
authority for rectification of order and according to the management of
the company there is no tax due hence provision not required.
(c) Out of the forfeited equity shares of Rs.32.03 Lacs which were
forfeited in financial year 1994-95. Some allotees filed case against
forfeiture in respect of 10400 Equity Shares of Rs.10/-each which are
pending before various courts. In this respect company has not made any
provisions.
2. Value of Import during the year is Rs. Nil(Previous year Rs. Nil)
3. (a) Expenditure in foreign currency during theyear Rs. Nil
(Previous Year Rs. Nil). (b) Earning in foreign currency during the
year Nil (Previous Year Nil)
4. The Balance of Trade Receivable, Trade Payable and Loan & advances
are subject to confirmation and reconciliation.
5. There is no any amount due to Micro, Small and Medium Enterprises.
The disclosure is based on the information available with the company.
6. SEGMENT REPORTING
Since The Company primarily operates in one segment - Labour Job &
Warehousing facility segmental reporting as required under Accounting
standard -17 is not applicable. There is no reportable geographic
segment either
7. RELATED PARTY DISCLOSURES
a) Related parties with whom transactions have taken place during the
year
i) Key Management Person Kamal Kumar Chaudhary
Ashish Chaudhary
Sharad Kumar Gupta
ii) Enterprise over which the Key Jagdamba Salts
Management Personnel is able to
exercise significant influence
8. DEFERRED TAX ASSETS/LIABILITY.
The AS -22 (Accounting Standard for "Accounting for Taxes on Income")
issued by ICAI becomes applicable to the company w.e.f.01.04.2002.
The Deferred tax liability on account of the timing difference in the
rates of depreciation has not been recognized as on 31.03.2014. Because
according to the management opinion this does not affect the financial
status & profitability of the company considering the substantially
MATCredit available to the Company.
9. Figures have been Rounded Off to the nearest Rupee.
|