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31 st March
2009 2008
Rs. In Lacs Rs. In Lacs
1 Contingent Liabilities not provided
for
a) Bank Guarantees outstanding against
which 13289.04 7321.26
i) Liabilities provided (Advances
from customers) 79.88 447.32
ii) Fixsd deposits pledged with banks 1806.70 869.93
b) Estimated amount of contracts
remaining to be executed on capital
account (net of advances to Suppliers) 129.77 282.02
c) Sales Tax & Entry Tax disputed 46.22 38.22
(Net of amount paid)
d) i) Claims raised by Govt, agencies
but not accepted by the company 118.83 207.97
ii) Amount paid against above 0.00 91.37
2. Prior year expenses Rs.14.54 Lacs (Prev. year Rs.2.73 lacs ) &
Income NIL (Prev. year NIL) have been charged in the respective heads
of accounts to Profit and Loss Account
3. The Company is under process of transfer in its name the various
fixed assets of merged Company.
4. The Company has not considered liability of excise duty on Finished
Goods at the year end. Had it been so the value of inventories as well
as current liabilities would have been higher by Rs. 12.23 lacs (
Prev.Yr. Rs 42.31 lacs ) and thus there would have no impact on the
profit for the year.
Associates:
BEC Projects Ltd., Bhilai Management Services Pvt. Ltd., Novel Projects
Ltd., Sudha Investment Ltd., Kirtimoya Capital Ltd., J.P.Jain Trust,
Vishva Vishal Enggineering Ltd., Kiosk Properties P Ltd., Hosak
Industries & Plastics Ltd, BEC Impex International Pvt. Ltd, BEC Strips
Ltd , Arpa Chemicals Ltd., Madhu Memorial Hospital Ltd, Bharat
Indsutrial Works (Bhilai) Pvt. Ltd, Bharat Industrial Works, Metalfab
Hightech Pvt. Ltd & Bhilai Motor Car Co.BEC power Pvt.Ltd.,Bhilai
investment Ltd..Sugar Services Pvt. Ltd.BECO Chemical Pvt.Ltd.BEC Ispat
Pvt.Ltd.Kriner Services PvtLtd.Mewar Fibre Holding Pvt.Ltd. Cootlex
Holding Ltd.,Jefferson Leasing & Finance Ltd.Ashish Industries &
Comml.Ent.Pvt.Ltd,Perennial Finance & Investment Pvt.Ltd.Jain
Industrial & Comm.Ent.Pvt.Ltd ,BEC Minerals Pvt.Ltd.
Directors: Shri B.R.Jain, S.KJain, A.K.Jain, Veenu Jain and Ashish Jain
Relatives of Directors: Smt Kanika Jain, Smt.Shripra Jain
5. Contribution of LIC under group gratuity scheme has not been made
for quite some time. However as Explained revival of the scheme is in
vogue. Estimated liability of gratuity at year-end (including the
Liability to be borne by LIC) is Rs 734.25 Lacs,(Previous year
Rs.612.41 Lacs) which has not been provided.
6. Impairment of Assets-As explained there being no indication of
impairment of assets, no loss has been recognized on this account by
the Company pursuant to AS-28.
7. SUNDRY CREDITORS INCLUDES AMOUNT DUE TO FOLLOWING SSI UNITS
TOTALLING TO (RS. 61.15 LACS.) ARIHANT INDUSTRIES, ADHUNIK INDUSTRIES,
ANUPAM INDUSTRIES, AKASH AUTO & MECHANICAL ENGG. WARKS BINA .
ENGINEERING BHILAI ENGINEERING WORKS BALAJI ENGINEERING &
CASTINGS.CHHAYA ENGINEERING WORKS DRAV1D METALS & FOUNDRY GILL
ENGINEERING WORKS GURUKUL ENGG. WORKS CTRICHHAYA ENGINEERING WORKS,
DEVPAD LIME INDUSTRIES KATNI(M.P),J.P.ENGG.WORKS, JAIRAM
INDUSTRIES,JAIKISHAN ENGIREERING WORKS.K.L.ENGINEERING WORKS.K.P.
INDUSTRIES.KHALSA ENGG. WORKS.KANG ENGG.WORKS.MID POINT ENGG. PVT.
LTD.MADHUR ENGINEERING & AUTOMATION, MAHAMAYA PATTERN SHOP, MAITY
TECHNO ENTERPRISES.ROLL MAKERS OF INDIA.SSK INDUSTRIES.SANTOSHI
INDUSTRIES, SHYAM ENGINEERING WORKS, SANDEEP UDYOG.SUMAN FIBERS &
FABRICATOR.SATKAR INDUSTRIES, S.S ENGINEERING WORKS, STELEX
INDUSTRIES.SAHA HYDRAULIC SERVICES.TT INDUSTRIES.UTKAL ENGINEERING
WORKS.VINAYAK TRADING CO., S.ENGINEERING WORKS HOWRAH KOLKATA.YASH
ENGG. WORKS
8. Interest is net of interest income of Rs. 186.01 Lacs (Previous
year Rs. 99.86 Lacs) T.D.S Rs.21.44 Lacs (Previous Year Rs. 13.82
Lacs).
9. Misc. Expenses includes Rs.436.50 Lacs (Previous year Rs. 376.32
Lacs) for Bank Commission i.e. Bank Guarantee Charges, L.C. Commission
& Bank Charges.
10. There is no Company Secretary with the Company during the
Financial Year.
11. Additional Informations:
1. Installed capacities being technical matter, has been certified by
the Management and accepted by the
Auditors.
2. Quantity indicated in purchases, production, consumption, turnover
and stocks are on actual / drawing / estimated basis and include
boughtout items also.
3. Production includes job work carried out by Company and other
agencies also.
4. Inventories are certified by the management.
5. Production & Sales exclude Inter Divisions Transactions.
6. Previous years figures have been re-arranged and / or re-grouped
to conform with those of the current year.
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