BHAGWATI DEVCON PRIVAT LIMITED

Balance Sheet as at 31st March, 2013

as at 31st as at 31st
SR.
Note No March 2013 March 2012
NO.
(in Rs.) (in Rs.)

I EQUITY AND LIABILITIES

A Shareholder's Funds
(a) Share Capital 3 500000 500000
(b) Reserves and Surplus 4 3606062 3598068

Total (A) 4106062 4098068

B Non Current Liabilities

(a) Long Term Borrowings 5 4700000 4550000

Total (C) 4700000 4550000

C Current Liabilities
( a) Other Current Liabilities 6 1124 1124
( b) Short Term Provions - -
Total (D) 1124 1124

TOTAL (A+B+C) 8807186 8649192

II ASSETS

A (1) Non-current assets

(a) Fixed Assets
- Tangible Assets 79500 -
(b) Long Term Loans and Advances 7 8425042 8602832
(c) Other Non current assets 8 5040 6720
(d) Other Current Assets
Total (A) 8509582 8609552
B (2) Current assets
(a) Cash and Cash Eqivalents 9 279025 39640
(b) Short- Term Loans and Advances - -
( c) Other Current Assets 10 18579 -
Total (b) 297604 39640

TOTAL 8807186 8649192

Significant Accounting Policies 2.1

The accompanying notes are an integral part of the financial statements

In terms of our Report of even date

For & on behalf of For & on behalf of
S.P. Purbey & Associates the Board of Directors
Chartered Accountants
(Firm Regn No- 327141E)

Shambhu Prasad Purbey Director

Proprietor
(Membership No. 069251)

Place: Kolkata Director

Date: 10th. August ,2013
 BHAGWATI DEVCON PRIVATE LIMITED

Statement of Profit and Loss for the year ended 31st March, 2013

SR. 2012-13 2011-12

Note No
NO. (in Rs.) (in Rs.)

INCOME

II Other Income 10 18579 870

III Total Revenue 18579 870

IV EXPENSES

Depreciation & Amortization 11 1680 2240

Other expenses 12 8906 5581

Total Expenses 10586 7821

V Profit before Exceptional and

Extraordinary Items and Tax (III-IV) 7993 (6951)
VI Profit before Extraordinary Items and Tax 7993 (6951)
VII Profit Before Tax (VII-VIII) 7993 (6951)
VIII Tax Expense - -
IX Profit(Loss) for the period from continuing operation 7993 (6951)
X Profit (loss) for the period 7993 (6951)
7993 (6951)
XI Earning per equity share 13
(Nominal value of share Rs.10/- (Pr.Yr.-Rs.10/-)
(1) Basic 0.16 0.04
(2) Diluted 0.16 0.04

Significant Accounting Policies 2.1

The accompanying notes are an integral part of the financial statements

In terms of our Report of even date

For & on behalf of For & on behalf of

S.P. Purbey & Associates the Board of Directors
Chartered Accountants
(Firm Regn No- 327141E)

Shambhu Prasad Purbey

Proprietor Director
(Membership No. 069251)

Place: Kolkata
Date: 10th.August,2013 Director
 BHAGWATI DEVCON PRIVATE LIMITED

Notes forming part of the financial statements for the year ended 31st March 2013

1 Corporate information
Bhagwati Devcon Private Limited (the company) is a private limited company domiciled in India and incorporated under
the provisions of the Indian Companies Act 1956 (CIN- U45400WB2008PTC122697) with its registered office at Kolkata
(West Bengal). It is engaged in the business of subletting of properties.

2 Basis of accounting and preparation of financial statements

The financial statements of the Company have been prepared in accordance with the Generally Accepted Accounting
Principles in India (Indian GAAP). The Company is a Small and Medium Sized Company as defined in the General
Instructions in respect of Accounting Standards notified under the Companies (Accounting Standards) Rules, 2006 (as
amended). Accordingly, the Company has complied, in all material respects with the Accounting Standards as applicable
to a Small and Medium Sized Company and the relevant provisions of the Companies Act, 1956. The financial statements
have been prepared on accrual basis under the historical cost convention. The accounting policies adopted in the
preparation of the financial statements are consistent with those followed in the previous year.

2.1 Significant accounting policies

(a) Use of estimates

The preparation of the financial statements in conformity with Indian GAAP requires the Management to make estimates
and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the
reported income and expenses during the year. The Management believes that the estimates used in preparation of the
financial statements are prudent and reasonable. Future results could differ due to these estimates and the differences
between the actual results and the estimates are recognised in the periods in which the results are known / materialise.

(b) Tangible fixed assets

Tangible fixed assets are carried at cost. The cost of fixed assets includes interest on borrowings attributable to acquisition
of qualifying fixed assets up to the date the asset is ready for its intended use and other incidental expenses incurred up to
that date. Subsequent expenditure relating to fixed assets is capitalised only if such expenditure results in an increase in
the future benefits from such asset beyond its previously assessed standard of performance.The company has no
intangible fixed assets

© Depreciation
Depreciation (on tangible fixed assets) has been provided on writen down value method as per the rates prescribed in the
Income tax rules 1962.

(d) Investments
Long-term investments are carried individually at cost less provision for diminution, other than temporary, in the value of
such investments. Long term investments are those which are not readily realizable and are intended to be held for more
than one year from the date of the investment. All other investments are current investments. However the company has
no Current investments. Cost of investments include acquisition charges such as brokerage, fees and duties (if any).

(e) Revenue recognition

Revenue from services are recognized as and when the services are rendered and right to receive the income is
unconditionally established. Sales of services exclude indirect taxes and levies, as applicable. Other income is recognized
on accrual basis except for dividend which is generally accounted for on receipt.

(f) Retirement & Other Employee Benefits

The company is not covered under the provisions of the Provident Fund and Employee State Insurance laws. The
company has no defined benefit plan for gratuity and the costs in this regard shall be recognized in the accounts as and
when they occur. The company has no specified leave policy and the cost of the unutlised entitlement accumulated at the
reporting date, if any, is not recognised on accrual basis and shall be accounted for when paid.

BHAGWATI DEVCON PRIVATE LIMITED

Notes forming part of the financial statements for the year ended 31st March 2013

(g) Taxes on income

Current tax is the amount of tax payable on the taxable income for the year as determined in accordance with the
provisions of the Income Tax Act, 1961. Deferred tax is recognised on timing differences, between the taxable income and
the accounting income that originate in one period and are capable of reversal in one or more subsequent periods. It is
measured using tax rates enacted or substantially enacted at the reporting date. Deferred tax assets are recognised only
to the extent there is reasonable certainty that there will be sufficient future taxable income against which they can be
realized. The company has no deferred tax to be accounted for in the current year.

(h) Earnings per share

Basic earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of extraordinary
items, if any) by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is
computed by dividing the profit / (loss) after tax (including the post tax effect of extraordinary items, if any) as adjusted for
dividend, interest and other charges to expense or income relating to the dilutive potential equity shares, by the weighted
average number of equity shares considered for deriving basic earnings per share and the weighted average number of
equity shares which could have been issued on the conversion of all dilutive potential equity shares.

(i) Presentation & Disclosure of Financial Statements

The Company has followed the Schedule-VI noticfied under the Companies Act 1956 for preparation and presentation of
its financial statements. The company has also reclassified the previous year's figures in accordence with the reqirements
applicable in the current year.

31.03.2013 31.03.2012
Rs. Rs.
3 Share Capital

Authorised -
50,000 (Pr.Yr. 50,000) Equity shares of Rs.10/- each 500000 500000

Issued, subscribed & paid up -

50,000, (Pr.Yr.- 50,000 ) Equity shares of Rs.10/- each 500000 500000

a. Reconciliation of Equity Shares outstanding at the beginning and at the end of the period

31.03.2013 31.03.2012
No. of shares Rs. No. of shares Rs.

At the beginning of the period 50000 500000 5000 500000

Issued during the year 0 0 0 0
Outstanding at the end of the period 50000 500000 5000 500000

b. Terms/rights attached to the equity shares

The company has only one class of equity shares having a par value of Rs.10/- per share. Each holder of equity shares is
entitled to one vote per share. No dividend on equity shares has been declared/paid for the current year

BHAGWATI DEVCON PRIVATE LIMITED

Notes forming part of the financial statements for the year ended 31st March 2013

c. Details of shareholders holding more than 5% shares in the company.

31.03.2013 31.03.2012
No. of shares % holding No. of shares % holding
Mada Lal Agarwala 3000 6 3000 6
Chanda Devi Jajodia 3000 6 3000 6
Sanjiv Agarwal 22500 45 22500 45
Sneha Agarwal 17500 35 17500 35

As per records of the company, including its register of shareholders/members and other declarations received from
shareholders regarding beneficial interest the above shareholding represents both legal and beneficial ownership of
shares
31.03.2013 31.03.2012
4 Reserves & Surplus Rs. Rs.

Securities Premium Account

Balance as per the last financial statements 3600000 3600000
0 0
Surplus/ (-) deficit in the statement of profit & loss
Balance as per the last financial statements (1931) 5020
Profit/ (-) Loss for the year 7993 (6951)
6062 (1931)
Add/ (-) Prior period adjustments for tax
6062 -1931

Total Reserve & Surplus 3606062 3598069

5 Long Term Borrowings

Security Deposit for Flat at Ambuja
Mada Lal Agarwala 650000 1300000
Sneha Agarwal 2900000 2500000
Sanjiv Agarwal 650000 650000
Sanjiv Agarwal HUF 500000 100000
4700000 4550000

6 Current Liability & Trade Payable

Expenses 1124 1124

1124 1124

7 Long Term Loans and Advances

Security Deposits 38750 38750
Advance against Property 8386292 8564082
8425042 8602832

8 Other Non- Current Assets & Misc. Expenditure

(To the Extent not written off or Adjusted)
Preliminary & Pre operative Expenses 5040 6720
5040 6720

BHAGWATI DEVCON PRIVATE LIMITED

9 Cash & Cash Equivalents

Balance with Bank in current account 15525 33810
Fixed Deposit with HDFC Bank 250000 0
Cash on hand (as taken & certified by the directors) 13500 5830
279025 39640

10 Other Current Assets

Accrued Interest on Fixed Deposit 16721 0
Tax Deducted at Sources 1858 0
18579 0

10 Other Income
Interest received 18579 870
18579 870

11 Depreciation & Amortzation Expense

Preliminary & pre- oprative Exp. Written off 1680 2240

1680 2240
12 Other Expenses
Filling Fees 1800 600
General Expenses 1447 815
Income Tax 0 158
Professional Chagres 2000 2000
Printing & Staionary 430 40
Subscriptopn & Donation 1100 0
Travelling & Conveyance 0 130
Telephone Charges 1005 714
Payment to Auditors
Audit Fees 1124 1124
8906 5581

13 The
Earnings perreflects
following share <EPS> (asand
the profit pershare
requirements
data usedof
in AS-20)
the basic and diluted EPS
computation

Total Operations for the year

Profit / (-) Loss after tax 7993 -6951
Adjustments 0 0
Net profit/ (-) loss for calculation of basic & diluted EPS 7993 -6951

Weighted average no of equity shares in calculating basic & diluted EPS 50000 50000

14 Related Party Transactions ( Disclosure in terms of AS-18)

Secuerity Deposit
Madan Lal Agarwal 650000 1300000
Sneha Agarwal 2900000 2500000
Sanjiv Kumar Agarwal 650000 650000
Sanjiv Kumar Agarwal HUF 500000 100000

In terms of our Report of even date

For & on behalf of
For & on behalf of the Board of Directors
S.P. Purbey & Associates
Chartered Accountants
(Firm Regn No- 327141E)
Director

Shambhu Prasad Purbey

Partner
(Membership No. 069251) Director

Place: Kolkata
Date: 10th. Agust 2013