Beeyu Overseas Ltd. के अकाउंट के लिये नोट

Mar 31, 2025

• Financial Liabilities:

Borrowings, Trade Payable, and other financial liabilities are initially recognised at the value of the respective contractual obligations. They are subsequently measured at amortised cost Any discount or premium on redemption or settlement is recognised in the Statement of Profit and Loss as finance cost over the life of the liability using the effective interest method and adjusted to the liability figure disclosed in the Balance Sheet. Financial Liabilities are de-recognised when the liability is extinguished i.e., . when the contractual obligation is discharged, cancelled, and on expiry.

• Offsetting Financial instruments:

Financial Assets and Financial Liabilities are offset and the net amount I included in the Balance Sheet where there is a legally enforceable right to offset the recognised amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously.

14.07 REVENUE RECOGNITION

Interest income is accounted for on a time proportion basis taking into account the amount outstanding and the applicable interest rate.

Other Incomes are accounted for on confirmation provided by the constituents.

14.08 LEASES

Leases are recognised as financial leases whenever the terms of the lease transfer substantially al! the risks and rewards of ownership to the lessee. All other leases are classified as operating leases.

Company as Lessee: Assets used under finance lease are recognised as property, plant, and equipment in the Balance Sheet for an amount that corresponds to the lower of fair value and the present value of minimum lease payments determined at the inception of the lease and a liability is recognised for an equivalent amount.

The minimum lease payments are apportioned between finance charges and the reduction of the lease liability so as to achieve a constant rate of interest on the remaining balance of the liability. Finance charges are recognised in the Statement of Profit and Loss

14.09 EMPLOYEE BENEFITS

Short-term employee benefits are recognised as an expense at the undiscounted amount in the Statement of Profit and Loss of the year in which the related service has been rendered.

Contributions to Provident Fund & other Funds including under the provisions of the Employees'' Provident Fund and Miscellaneous Provisions Act, 1952, will be accounted for on an accrual basis whenever applicable.

Leave encashment benefit, as and when required, will be determined on the basis of actuarial valuation. However, during the previous year as well as in the current year no Actuarial Valuation was considered necessary in view of the resignation of most of the employees.

Provision for Gratuity is not made in accounts and will be accounted for as and when paid.

14.10 TAXES ON INCOME

Taxes on income comprise (a) Current Tax and (b) Deferred Tax,

Current Tax in the Statement of Profit and Loss is provided as the amount of tax payable in respect of taxable income for the period using tax rates and tax laws enacted during the period, together with any adjustment of tax payable in respect of previous years.

Deferred Tax is recognised on account of temporary differences between the carrying amounts of assets and liabilities and the amount used for taxation purposes (tax base), at the tax rates and tax laws enacted or substantively enacted by the end of the reporting period.

Deferred tax assets are recognised for future tax consequences to the extent it is probable that future taxable profits will be available against which the deductible temporary difference can be utilised.

Deferred tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets and liabilities and when deferred tax balances are related to the same taxation authority. Current tax assets and liabilities are offset where the entity has a legally enforceable right to offset and intends either to settle on a net basis or to realise the asset and settle the liability simultaneously.

14.11 CLAIMS

Claims against the Company not acknowledged as debt are disclosed after a careful evaluation of facts and legal aspects of the matter involved.

The Company has no ongoing litigations with any regulatory authorities. Where an outflow of funds is believed to be probable and a reliable estimate of the outcome of the dispute can be made based on the Management''s assessment of the specific circumstances of each dispute and relevant external advice, Management provides for its best estimate of the liability. Information about such litigations is provided in the Note to the Financial Statements.

14.12 PROVISIONS

Provisions are recognised when as a result of a past event, the Company has a legal or constructive obligation; it is probable that an outflow of resources will be required to settle the obligation; and the amount can be reliably estimated. The amount so recognised is the best estimate of the consideration required to settle the obligation at the reporting date, taking into account the risks and uncertainties surrounding the obligation.

14.13 FINANCIAL AND MANAGEMENT INFORMATION SYSTEM

The Company''s Accounting System is designated to unify the financial records, to comply with the relevant provisions of the Companies Act, 2013, and to provide financial information appropriate to the businesses and facilitate internal control.

15 RELATED PARTY DISCLOSURES15.01 Disclosure of transactions between the Company and related entities and the status of outstanding balances as on 31.03.2025: -

List of Key Managerial Personnel (KMP):-

Mr. Pranab Chakraborty Whole-time Director

Mr Sovan Chatterjee Independent Director

Mr Harendra Kumar Baitha Independent Director

Mrs. Simran Saha Woman Independent Director

Mr Shouvik Kundu Chief Financial Officer

Mr. Gunjan Bagla Company Secretary

15.02 Remuneration to Key Managerial Personnel other than MD/Manager/WTD:

(Amount in Rs. hundreds)

Remuneration to Company Secretary Rs.1800 (2024-25) Rs.1800 (2023-24)

16 ADDITIONAL NOTES

1 6.01 The Company was maintaining separate accounts in scheduled banks for dividends declared for the financial years 2002-03, 2003-04, and 2004-05 from which dividends were paid to the shareholders. It is learnt that in respect of stale dividend warrants the scheduled banks transferred the sums to the Reserve Bank of India since long as the accounts have remained inoperative for years. As the Company is not holding any amount in Unclaimed Dividend Account as of now, no amount is transferable to Investor Protection & Education Fund.

16.02 The company, at its Annual General Meeting, held on 20th September, 2024 passed a special resolution for reducing the issued, subscribed and paid up capital from Rs 14,14,14,530/- (Rupees fourteen cores fourteen lakhs fourteen thousand five hundred thirty only) divided into 1,41,41,453/- equity shares of Rs 10/- each to Rs 8,28,200/- (Rupees eight lakh twenty eight thousand two hundred only) divided into 82820 equity shares of Rs 10/- each. A request has been submitted to Bombay Stock Exchange for in-principal approval of such capital reduction. Further, confirmation of NCLT still remains to be obtained.

16.03 There was no manufacturing or trading activity of the Company during the current year or in the previous year and hence disclosure under Segment Reporting does not arise.

16.04 There are no dues outstanding for more than 45 days during the year, payable by the Company to its suppliers of goods and services which are covered by the Micro, Small, and Medium Enterprises Development Act, 2006.

16.05 Previous year''s figures have been regrouped/reclassified wherever necessary to correspond with the current year''s classification/disclosure.

The accompanying notes 1 to 16 are an integral part of the Financial Statements.

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Mar 31, 2024

13.12 PROVISIONS

Provisions are recognised when as a result of a past event, the Company has a legal or constructive obligation; it is
probable that an outflow of resources will be required to settle the obligation; and the amount can be reliably estimated.
The amount so recognised is the best estimate of the consideration required to settle the obligation at the reporting
date, taking into account the risks and uncertainties surrounding the obligation.

13.13 FINANCIAL AND MANAGEMENT INFORMATION SYSTEM

The Company’s Accounting System is designated to unify the financial records, to comply with the relevant provisions of
the Companies Act, 2013, and to provide financial information appropriate to the businesses and facilitate internal control.

15 ADDITIONAL NOTES

15.01 The Company was maintaining separate accounts in scheduled banks for dividends declared for the financial years
2002-03, 2003-04, and 2004-05 from which dividends were paid to the shareholders. It is learnt that in respect of
stale dividend warrants the scheduled banks transferred the sums to the Reserve Bank of India since long as the
accounts have remained inoperative for years. As the Company is not holding any amount in Unclaimed Dividend
Account as of now, no amount is transferable to Investor Protection & Education Fund.

15 ADDITIONAL NOTES (Contd.)

15.02 There is no employee who is in receipt of remuneration exceeding Rs.10,200,000 per annum when employed throughout
the year or Rs.850,000 per month when employed for a part of the year.

15.03 There was no manufacturing or trading activity of the Company during the current year or in the previous year and
hence disclosure under Segment Reporting does not arise.

15.04 There are no dues outstanding for more than 45 days during the year, payable by the Company to its suppliers of
goods and services which are covered by the Micro, Small, and Medium Enterprises Development Act, 2006.

15.05 Previous year’s figures have been regrouped/reclassified wherever necessary to correspond with the current year’s
class ification/disclosure.

The accompanying notes 1 to 15 are an integral part of the Financial Statements.

In terms of our report of even date On behalf of the Board

For AGARWAL & ASSOCIATES BEEYU OVERSEAS LIMITED

Chartered Accountants
[Firm’s Regn. No. 323210E]

Shouvik Kundu Gunjan Bagla

Chief Financial Officer Company Secretary

Raj Kumar Agarwal
Partner

Membership No. 052130 Sovan Chatterjee Pranab Chakraborty

UDIN : 24052130BKAJPY7880 Director Whole time Director

Date : 21/05/2024 DIN : 10349322 DIN : 09030036

Place : Kolkata

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Mar 31, 2014

1. Entities where Key Management Personnel (KMP) or their relatives exercise control Quantum Wealth Solutions Private Limited

2. Claims against the Company not acknowledged as debts:

Income Tax claims for the financial years: 2001-02 - Rs. 83,59,411,2002-03 - Rs. 33,79,059, 2003-04 - Rs. 12,35,977, 2004-05 - Rs. 26,77,782 and 2005-06 - Rs. 2,77,248 towards appeals pending before the Commissioner of Income Tax (Appeals).

3. There were no employees who were in receipt of remuneration not less than Rs. 24,00,000 per annum when employed throughout the year or Rs. 2,00,000 per month when employed for a part of the year.

4. There was no manufacturing or trading activity of the Company during the current year or in the previous year and hence disclosure under Segment Reporting does not arise.

5. The Company is in the process of compiling relevant information from its suppliers about their coverage under the Micro, Small and Medium Enterprises Development Act, 2006. As the company has not received any intimation from its suppliers as on date regarding their status under the above Act, no disclosure has been made.

6. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

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Mar 31, 2013

1.1 Key Management Personnel (KMP)

Mr. B. P. Singh, Chairman & Managing Director (up to 02.04.2012)

Mr. Shouvik Kundu, Director (from 20.04.2012)

Mr. Hemant Premji Thacker, Executive Director

Mr. Ramesh Kumar Jhawar, Director (from 03.04.2012)

1.2 Entities where Key Management Personnel (KMP) or their relatives exercise control

Quantum Wealth Solutions Private Limited

2 Claims against the Company not acknowledged as debts:

Income Tax claims for the financial years: 2001-02 - Rs. 83,59,411, 2002-03 - Rs. 33,79,059,2003-04 - Rs. 12,35,977, 2004-05 - Rs. 26,77,782 and 2005-06 - Rs. 2,77,248 towards appeals pending before the Commissioner of Income Tax (Appeals).

3 There were no employees who were in receipt of remuneration not less than Rs. 24,00,000 per annum when employed throughout the year or Rs. 2,00,000 per month when employed for a part of the year.

4 There was no manufacturing or trading activity of the Company during the current year or in the previous year and hence disclosure under Segment Reporting does not arise.

5 The Company is in the process of compiling relevant information from its suppliers about their coverage under the Micro, Small and Medium Enterprises Development Act, 2006. As the company has not received any intimation from its suppliers as on date regarding their status under the above Act, no disclosure has been made.

6 Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

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Mar 31, 2012

Note 1 CONTINGENT LIABILITIES AND COMMITMENTS

Contingent Liabilities not provided for Income Tax Matters (under appeal) Rs. 1,59,29,470 (Previous Year: Rs.1,59,29,470)

Note 2 In absence of any manufacturing or trading activity of the company during the current year or in the previous year, disclosure of certain information which are required to be disclosed by a manufacturing or trading company does not arise.

Note 3 RELATED PARTY DISCLOSURE

(1) Person having substantial interest in the Company

Mr. B. P. Singh - Chairman & Managing Director (upto 02.04.2012)

(2) Key Managerial Personnel

Mr. B. P. Singh - Chairman & Managing Director (upto 02.04.2012)

(3) Relatives of Key Managerial Personnel Ms Rajinie Singh

(4) Transactions during the year with the related parties:

Key Management Personnel - Rent paid Nil (Previous year: Rs.1,10,000)

(5) Balances at the year end:

Key Management Personnel - Advances given Rs.23,56,033 (Previous year: Rs.24,01,752)

There are no transactions during the year and in the previous year with the relatives of Key Management Personnel. There are no subsidiaries of the Company. There are no joint ventures of the Company.

Note 4 SEGMENT REPORTING

There was no manufacturing or trading activity of the Company during the current year or in the previous year and hence disclosure under this head does not arise.

Note 5 There are no micro, small and medium enterprises to which the Company owes dues, which are outstanding for more than 45 days and interest paid/payable as at 31st March 2012. The information as required to be disclosed under "The Micro, Small and Medium Enterprises Development Act, 2006" has been identified by the Company on the basis of information available with the Company.

Note 6 The revised Schedule VI has become effective from April 1,2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

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Mar 31, 2010

For the year For the year ended ended

31st March 2010 31st March 2009

1. Estimated amount of contracts remaining to be executed on capital account and not provided for (net of advances) - -

2. Contingent Liabilities not provided for

i) Income Tax Matters 7,570,059 7,570,059

ii) Corporate Guarantee - -

iii) Bank Guarantee - -

3. During the year Income Tax Appellate Tribunal (ITAT) has passed an order while disposing off and partly allowing the appeal filed by Revenue (DCIT) against the earlier order of CIT (Appeal) relating to assessment year 2001 -02, which was passed in favor of company against a demand of Rs. 21,26,722 under section 143(3) of Income Tax Act, 1961 and reversed the order of CIT(Appeal) partly on certain issue of computation of indirect cost for the purpose of deduction u/s 80 HHC. Pursuant to such ITAT order although the liability of income tax is certain as at year end ¦ to the extent of disallowance, no provision has been made in books, considering the fact that impact of such partly allowed appeal is unascertainable from the ITAT order. No demand has been raised till date on the ground of such ITAT order.

4. The Company is not carrying out any tea manufacturing activity at its unit located in Ooty, Tamilnadu, since August, 2008, due to the fact that the Tea Board of India has revoked the factorys registration under the provisions of Tea (Marketing) Control Order, 2003 issued under the provisions of the Tea Act, 1953. Due to loss of Turnover and under-recovery of expenses, including depreciation and interest, there was high operating losses.

The Board on its meeting held on 30th October 2008 decided to change the business model from manufacturing to trading in tea. Moreover, in order to generate Working Capital as well as reduce Borrowings, it has decided to sell, lease or otherwise dispose off - a) the residual land of 6.95 acres including the tea factory at Ooty along with all fixed assets such as plant, machinery, estate and development, etc. which are directly or indirectly required to run the factory, and b) the Corporate Office Building of the Company at Kolkata. The proposal had been duly approved by Shareholders under Section 293(1 )(a) by means of Postal Ballot in December, 2008. The disposal is consistent with the Companys long-term strategy to focus its activities in the area of trading, and to divest from unrelated areas. The sale is yet to be finalized.

5. Post Employment Benefit

Defined Contribution Plans

The Company makes Provident Fund and Superannuation Fund contributions to defined contribution retirement benefit plans for qualifying employees. Under the schemes, the Company is required to contribute a specified percentage of the Payroll costs to fund the benefits.

The Company recognised Rs. 82,280 for Provident Fund contributions in the Profit & Loss Account. The contributions payable to these plans by the company are at rates specified in the rules of the schemes.

Defined benefit plans

The Company makes annual contributions to the Employees Group Gratuity Scheme of the Life Insurance Corporation of India, a funded defined benefit plan for qualifying employees. The present value of obligation is determined at the year end based on actuarial valuation using the Projected Unit Credit Method. The obligation for leave encashment is recognised in the same manner as gratuity, for which annual actuarial valuation is carried out by an independent actuary in compliance with Accounting Standard 15 (revised 2005) on Employee Benefits.

The estimates of rate of escalation in salary considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors including supply and demand in the employment market. The above information is certified by the actuary.

6. Financial and Derivative Instruments

a) The Company uses foreign currency hedges to manage its risks associated with foreign currency fluctuations relating to certain firm commitments and forecasted transactions. The Company does not use hedges for speculative purposes.

b) All financial and derivative contracts entered into by the Company are for hedging purposes only.

c) There are no Foreign currency exposure that are not hedged by forward contracts as on 31st March 2010.

7. Related Party Disclosure

1) Person having substantial interest in the Company

Mr. 8 P Singh - Chairman & Managing Director

2) Key Managerial Personnel

Mr. B P Singh - Chairman & Managing Director

Ms Rajinie Singh - Dy. Managing Director

3) Relatives of Key Managerial Personnel Late

Mrs. Usha Singh

Mr. Ravi Singh

Mrs. Aprajita Singh

Singhsons HUF

8. Segment Reporting

Business Segment

The company has only one reportable primary segment i.e. tea. It has identified Geographical segment as the secondary segment.

9. There are no Micro, Small and Medium enterprises to which the company owes dues, which are outstanding for more than 45 days and interest paid/payable as at 31st March 2010. The information as required, to be disclosed under "The Micro, Small and Medium Enterprises Development Act, 2006" has been identified by the company on the basis of information available with the company.