M.SALAH UDDIN & CO. CHARTERED ACCOUNTANTS E.mail . salahuddin ca(aIahoo.co 105, P.V.Complex, 1st floor West Boring Canal Road Patna - 800 001 Mob No.9334118125 TO THE MEMBERS OF BIHAR STATE EDUCATIONAL INFRASTUCTURE DEVELOPMENT CORPORATION LIMITED. 1. Opinion We have audited the accompanying financial statements of BIHAR STATE EDUCATIONAL INFRASTUCTURE DEVELOPMENT CORPORATION LIMITED ("the Company"), Shiksha Bhawan, Bihar Rashtrabhasha Parishad Campus, Acharya Shivpujan Sahay Path, Saidpur, Patna -800001 which comprise the Balance Sheet as at March 31, 2018, the Statement of Profit and Loss, the Statement Cash Flow for the year then ended, and a summary of significant accounting policies and other explanatory information. In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Act, in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the company as at 31st March, 2018 and its profit/loss, and cash flows for the year ended on that date. 2. Basis for Opinion We conducted our audit in accordance with Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013. Our responsibility under those standards is further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013 and the Rules there under, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 3. Management's Responsibility for the Financial Statements The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act read 0 C with Rule 7 of the Companies (Accounts) Rules, 2014 and the companies (Accounting standards) Amendment Rule,2017. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the company or to cease operations, or has not realistic alternative but to do so- That Board of Directors is also responsible for overseeing the company's financial reporting process. 4. Auditor's Responsibility Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatement can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decision of users taken on the basis of these financial statements. 5. Emphasis of the matter We draw the attention to the following matters in the notes to the financial statement: (i) Note No.8 in the financial statements which describes the uncertainty related to the outcome of the claim of refund (i) of Income Tax paid and claimed as receivables Rs.823661064.00 previous year 792152634.00. The claim is pending since earlier years. Income Tax refund Rs.238205217.00 for the financial year 2014-15, received during the year, is shown under the head "other current liabilities" in view of pending assessment order. (ii) Income tax deducted at source and claimed as refund from the Income tax department Rs.88765649.50 previous year Rs.87926021.50 is pending with Income tax department since earlier years. 2 (iii) Service tax provided during the year 2015-16 Rs.27378078.91 against which Rs.26904960.91 has remained unpaid due to legal proceeding started. (iv) Long term provisions due to Care Logistic (ICT-fortified BG) Rs.22706660.00 is being shown as 'Prior period income' during the year. (v) In absence of relevant records of contingent liabilities the existence of any such liabilities could not be ascertained. 6. Report on Other Legal and Requlatory Requirements As required by the Companies (Auditor's Report) Order, 2016 ("the Order"),issued by the Central Government of India in terms of sub-section (11) of section 143 of the Companies Act,2013 we give in the Annexure a statement on the matters specified in Paragraph 3 and 4 of the Order, to the extent applicable. As required by section 143 (3) of the Act, we report that: a. we have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of our audit; b. in our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books; c. the Balance Sheet, the Statement of Profit and Loss and the Cash Flow Statement dealt with by this Report are in agreement with the books of account d. in our opinion, the aforesaid financial statements comply with the Accounting Standards specified under section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. e. On the basis of written representations received from the directors as on March 31, 2018 taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2018 from being appointed as a director in terms of Section 164 (2) of the Act. f. With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, as required under section 143(3)(i) of The Companies Act, 2013 are refer to our separate report in "Annexure A". g. With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us: 1. The company has disclosed the impact of pending litigation on its financial position in its financial statements. Refer note no. 8 of Notes of accounts regarding taxation matters. 3 O ~ ) .... . ... 2. The company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses. 3. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the company. For M.SALAH UDDIN & CO. Chartered Accountants Firm Reg.No.000637C PATNA 20 JUN 2019 C.A.M.SALAH UDDIN Date: Proprietor Membership No.070157 M. SALAHUDDIN & CO. Charered Accountants 105, P.V. Complex, 1st Floor West Boring Canal Road. PATNA-800 001. 4 BIHAR STATE EDUCATIONAL INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED Shiksha Bhawan, Bihar Rashtrabhasha Parishad Campus, Acharya Shivpujan Sahay Path, Saidpur, Patna "Annexure A" to the Independent Auditor's Report Report under the Companies Auditors Report Order. 2016 The annexure referred to in paragraph 1 under the heading 'Report on Other Legal & Regulatory Requirement' of our report of even date to the financial statements of the Company for the year ended March 31, 2018, On the basis of such checks as we consider appropriate and according to the information and explanations given to us during the course of our audit, We report that : (i). (a) The company has maintained proper records showing full particulars including quantitative details and situation of fixed assets. (b) Fixed assets have been physically verified by the management and no material discrepancies were noticed on such variations. (c) The company does not have immovable properties in the nature of land and building and therefore provisions of clause (i)(c) is not applicable. 2) a) in the year under audit, the entire expenditure incurred including Centage was found debited to work in progress of various infrastructure projects. Any inventory at site belongs to the contractor and not owned by the company and hence the question of its physical verification and maintenance of proper records thereof does not arise. 3) The Company has not granted any loans, secured or unsecured to companies, firms, Limited Liability partnerships or other parties covered in the Register maintained under section 189 of the Act. Accordingly, the provisions of clause 3 (iii) (a) to (C) of the Order are not applicable to the Company and hence not commented upon. 4) In our opinion and according to the information and explanations given to us, the company has complied with the provisions of section 185 and 186 of the Companies Act, 2013 In respect of loans, investments, guarantees, and security. 5) The Company has not accepted any deposits from the public and hence the directives issued by the Reserve Bank of India and the provisions of Sections 73 to 76 or any other relevant provisions of the Act and the Companies (Acceptance of Deposit) Rules, 2015 with regard to the deposits accepted from the public are not applicable. 6) As informed to us, the maintenance of Cost Records has not been specified by the Central Government under sub-section (1) of Section 148 of the Act, in respect of the activities carried on by the company. 50 'iRM¶11c 7) (a) According to information and explanations given to us and on the basis of our examination of the books of account, and records, the Company has been generally regular in depositing undisputed statutory dues including Provident Fund, Employees State Insurance, Income-Tax, Sales tax, Service Tax, Duty of Customs, Duty of Excise, Value added Tax, Cess and any other statutory dues with the appropriate authorities except in few cases where there has been some delay. According to the information and explanations given to us, no undisputed amounts payable in respect of the above were in arrears as at March 31, 2018 for a period of more than six months from the date on when they become payable. However service tax Rs.26904960.91 is due for more than six months. b) According to the information and explanation given to us, there are no dues of income tax, sales tax, service tax, duty of customs, duty of excise, value added tax outstanding on account of any dispute. However service tax Rs.26904960.91 is deputed. Amount FPeriod to Forum where Name of Nature of disputed outstanding (in which the dispute is the statute Dues o sd amount peis relates pending Income Tax Demand raised on Income Tax Act, 1961 assessment u/s 143(3) 6,85,73,110.00 FY 2011-12 Appellate of the Act Tribunal, Patna Income Tax Demand raised on Act, 1961 assessment u/s 143(3) 1,87,74,773.00 FY 2012-13 Patna of the Act Income Tax Demand raised on Icomle9 assessment u/s 143(3) 52,79,500.00 FY 2013-14 CIT(Appeal), Act, 1961 of the ActPtn Income Tax TDS demand 63,99,133.00 FY 2012-13 CIT (Appeal), Act, 1961 -_ _______ _____ ___ Patna Service Tax Service Tax Demand 15,89,84,028.00 FY 2011-15 AO Service Tax Service Tax Demand 22,18,82,612.00 Y 2015-18 AO 8) In our opinion and according to the information and explanations given to us, the Company has not defaulted in the repayment of dues to banks. 9) Based upon the audit procedures performed and the information and explanations given by the management, the company has not raised moneys by way of initial public offer or further public offer including debt instruments and term Loans. Accordingly, the provisions of clause 3 (ix) of the Order are not applicable to the Company and hence not commented upon. 6 t , 10) Based upon the audit procedures performed and the information and explanations given by the management, we report that no fraud by the Company or on the company by its officers or employees has been noticed or reported during the year. 11) Based upon the audit procedures performed and the information and explanations given by the management, the managerial remuneration has been paid or provided in accordance with the requisite approvals mandated by the provisions of section 197 read with Schedule V to the Companies Act; 12) In our opinion, the Company is not a Nidhi Company. Therefore, the provisions of clause 4 (xii) of the Order are not applicable to the Company. 13) In our opinion, there are no contracts or arrangements entered into by the company with the related parties as defined under section 188 of the Companies Act,2013 during the year under review. 14) Based upon the audit procedures performed and the information and explanations given by the management, the company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year under review. Accordingly, the provisions of clause 3 (xiv) of the Order are not applicable to the Company and hence not commented upon. 15) Based upon the audit procedures performed and the information and explanations given by the management, the company has not entered into any non-cash transactions with directors or persons connected with him. Accordingly, the provisions of clause 3 (xv) of the Order are not applicable to the Company and hence not commented upon. 16) In our opinion, the company is not required to be registered under section 45 IA of the Reserve Bank of India Act, 1934 and accordingly, the provisions of clause 3 (xvi) of the Order are not applicable to the Company and hence not commented upon. For M.SALAH UDDIN & CO. Chartered Accountants F irm Reg No.0006 C.A.M.SALAH UDDIN PATNA Proprietor Date: 20 J U 2019 Membership No.070157 WINeJ#- -?0ar2Jso,7 t1A 4 t2 AL&ex 3-6 M. SALAHUDDIN & CO Chartered Accountants 10s, P.V. Complex, Ist Floor West Boring Canal Roadt PATNA-800 001. . .............. "Annexure B" to the Independent Auditor's Report of even date on the Financial Statements of BIHAR STATE EDUCATIONAL INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 ("The Act") We have audited the internal financial controls over financial reporting of BIHAR STATE EDUCATIONAL INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED C'the Company") Shiksha Shawan, Bihar Rashtrabhasha Parishad Campus, Acharya Shivpujan Sahay Path, Saidpur, as of March 31, 2018 in conjunction with our audit of the financial statements of the Company for the year ended on that date. Management's Responsibility for Internal Financial Controls The Company's management is responsible for establishing and maintaining internal financial controls based on "the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India". These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to company's policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013. Auditors' Responsibility Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the "Guidance Note") and the Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls, both applicable to an audit of Internal Financial Controls and, both issued by the Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects. Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor's judgment, tA P 8C .............. ... ......... .... .... ............ . ... including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company's internal financial controls system over financial reporting. Meaning of Internal Financial Controls over Financial Reporting A company's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or tirrely detection of unauthorized acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements. Inherent Limitations of Internal Financial Controls Over Financial Reporting Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. Opinion In our opinion, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31, 2018, based on "the internal control over financial reporting criteria estabilshed by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India". For M.SALAH UDDIN & CO. Chartered Accountants Firm Reg.No.0 W37C PATNA PATNA C.A.M.SALAH UDDIN Date: Proprietor 20 JUN 2019 Membership No.070157 M. SALAHUDDIN & CO. Chartered Accountants 105, P.V. Complex, let Floor West Boring Canal Road. PATNA-800 001. 9 BIHAR STATE EDUCATIONAL INFRASTRUCTURE DEVELOPMENT LIMITED Auditor's Report under Section 143 (5) of the Companies Act, 2013 for the financial Year 2016-17 ANNEXURE-C SN DIRECTIONS Whethere the company has clear title/lease deeds for freehold respectively? NIL (If not please state the area of freehold and leasehold land for which title/lease deeds are not available) Whether there are any cases of waiver/write off of debts/interest etc., if yes, the reasons there for NIL and amount involved 3 Whether proper records are maintained for No such case inventories lying with third parties and assests received as gift/grants from the Government or other authorities __~~~ ............ .____ .....____ ____ ____ BIHAR STATE EDUCATIONAL INFRASTRUCTURE DEVELOPMENT LIMITED Auditor's Report under Section 143 (5) of the Companies Act, 2013 for the financial Year 2016-17 Annexure-II SN Directions 1 Whethere the company has taken adequate measures to prevent encroachment of idle land owned by it. No such case Whether any land of the company is encroached, under litigation, not put to use or declared surplus? Details may be provided 2 Whether the system in vogue for No such case, the company is engaged in identification of projects to be taken up business to build educational infrastructure for or under Public Private Partnership is in line on behalf of any University or other educatioanal with the guidelines/policies of the institutions existing for educatioanal purpose, Government? Comment on deviation if which is wholly financed by the Government. any. 3 Whether system for monitoring the execution of works vis-6-vis the milestones Yes, there is system of monitoring. stipulated in the agreement is in existence and the impact of cost escalation, if any, revenues/losses from contracts, etc., have been properly accounted for in the books. 4 Whether funds received/receivable for Yes specific schemes from central/state agencies were properly accounted for/utilized? List the cases of deviations. S Whether the bank guarantees have been No such case revalidated in time? 6 Comment on the confirmation of balances Yes of trade receivables, trade payables, term deposits, bank accounts and cash obtained. 7 The cost incurred on abandoned projects may be quantified and the amount actually No such case written-off shall be mentioned. F3 I ................... ............ PROFORMA ON THE PERFORMANCE OF AUDITORS OF GOVERNMENT COMPANIES & CORPORATION FROM THE YEAR 2009-10 Basic Data. Name of the Company/Corporation: BIHAR STATE EDUCATIONAL INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED Name of the Branch/Unit of the Company/ Corporation audited: Year of Account: 2017-18 Name of the Statutory Auditors and M.SALAH UDDIN, F.C.A. of M. SALAH UDDIN & CO. Branch/Auditors and partner who certified the financial statement on behalf of the CA firm: Name of the partners, Chartered Accountant Employees and other employees who actually audited the Company/Unit and the man days deployed/spent by the Partners/CA employees/other employees on the audit. Name Man days/hours TA/DA Out of pocket spent in audit paid/payable Expenses paid/ _____ _____ ____ _____ _________ _____ ___ (Rs.)_ _ __ _ _ (I) Partners/Proprietor 20 days NIL NIL (II)Chartered Accountant Employees NIL NIL NIL (III) Other Employees 40 days NIL NIL Audit fee and other remuneration paid/payable to the Auditors by the Company (please give separate entries for each Audit firm and each type of remuneration). Name of the Statutory Audit fees Audit fees Details of other remuneration/fee Auditor/branch auditor mentioned in the actually paid paid/payable to the auditor annexure II by the alongwith amount thereof for the attached with the Company year of account: appointment letter M. 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Q н V U .. с � � N й й � � и w 14 BIHAR STATE EDUCATIONAL INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED CIN: U80301BR201OSGCO15859 BALANC E SH EET AS AT 3 1 W1201 8 INK 'EQU 17Y AND LIABILITIES Parrwuhlr- JNcote 31-03-17 Sharehold4irs'fvnds Share ciaplta 1 1 20,00,00,000.00 20,00,00,000.00 Reserves and surplus 2 2,17,29,19,263,92 2,0A.,55,36.733.54 Money receivecl aga,rst hafe)A-arrants 2,3T29,1Q,n 1,9 -Sh. ire application money pending allotment Non,C urre nt I iabilitie s Long-term borrowings Deferred taix liabiLi1jes (Ne I) Other Long torni lobilitie5 3 50,66,77,44,013.75 38.40,52,51,607.75 Loreg-term provisions - 60, 56:7 7,44.Gl 3 7 5 38A.52-51-607.75 Current lialzillifies Stiort-terni oriejwings Trade payables 4 50,74.5236.00 8,33,56,30100 Othar curreni liabileties 5 3.52,B9,35,488.00 3,47,73,44,691.Do S iorkeTnri provi jons 6 4,04,22,422.21 4,49,87,064-21 :57,44,32A46 21 Z.60,56.88,058.21 TOTAL 56,51,50,95,723.88 44,25,64,76.399.50 ASSETS No n-current assets Fixed assetr* Tangible assets 7 37,44,270.08 30.76,200.48 Intangible assets 8 1,72,299.82 Capital work-in-progress Intangible assets under development N7.-309 04 Non-curreni Investments - Deferred toxss ,eits (net) Long-term loans and advances 9 16,28,84,588.00 1,48.29,761.00 Other nori-cursenlassets 91,24,33,313-50 88.00.85,255.50 1,07,53,17,901.50 50 C urront assets Cuf rent rrsve5tmenls lweDtories Trade recetvab es Cash and cash equivateniti 11 16,33,11,36,575.42 9,51,94,13,408.01 Short-term loans a4ld advances Qlhei Curren' as&oN 1 39,10,47,24,677.07 33' 3.811.21.665.95 3- 02"-'07 X7 .-F TOT#. M. 61:0195.72189 L44 t:; d k) w- For M.SALAH UD DIN &Co. [RinFa Kr. Mishra) (Neha Shah) (Prit; Tl a') lArvln, Kumar Verma) M. SALAH UDDIN C F Company Secretary Independent Director Managing Director M,No.070157- - I T -02480255 M-N0.4111 DIN. DIN 08168553 7 APq" M. SALAHUDDIN & Co- n 1 7 1 Chartered Accountants F-4 F c T -77 106, P. V. Complex. I st Floor West Boring Canal Road, PATNA-800 00 1. 2 July .u . ..... . ........... BIHAR STATE EDUCATIONAL INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED CIN: U80301BR2010SGC015859 STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED 3'/ 201f8 Part colors ~Nota 304 304 Revenu- from oBp15.4ations 13 23&15,53 12 5249,7603751 Othe r Jlcorne 14 4,55,36,477 64 6,53,46.395.93 Total Revenue 33.43,1,930.6 59,03,24,432.94 Expenses Cost of materials consumed Purchasi?s of SEockin-Trade Chaniges in inventories of finished goods work-in-progress and Scock-in-Trade Employee benefits expense 15 11,09,25,241.00 10,96.15.580.00 Frlance costs Deprecabon and antortization axpense 16 17,38,296.14 2223,943.99 Other expenses 17 11,66,07,241.23 24,89,22 52,. 95 Tital expenses 22.92,70,778.37 36,07,62D58.94 Profil before exceptional, extraordinary and prior period items and 10,50,81,152 39 22,95,62,374>00 Exceptiorial iterns Profil before extraordinary and prior period items and tax 10,50,81,152.39 22,95,62,37400 Extuaordinary rians Profil before prior period items and tax 10,50,81,152 39 22 95,62,374.00 Adi( Less): Prior Period Items 18 2,23,01,378.00 Profil before tax 12,73,82,530.39 22,95,2374.00 Tax experlse: Current tax Deferred lax Proflt/{l1ss) for the period from continuing operations 12,73,82,530-39 22,95,62,37400 ProfU(loss) from disconlinuing operatroris Tax expense of discontinuing operations ProFU(loss) from Discontinuing operations (after tax) Prof it/oss> for the period g Value of share capital of Rs. 10 each. 2 00.00 00 20,00,0d, Earmings per equity sharE: Ea-4c 6.37 11.48 Dluted 6.37 11.48 For M.SALAH UDDIN & CO. (Ranja Kr. Mishra) (Neha Shah) P rit[ Tul yan (Arvind Kumar Verma) M. SALAH UDDIN CF Company Secretary Independent Director Managing Director M.No.070157 M.No.41716 DIN:02480255 DIN: 08168553 sALAHUDIN & GC z¯iT.gi Car ered AcCountants os. P.V. ComP" st Floo 7r West Boring Canli Road. pKrNA-800 001. .....2.U..u.... BIHAR STATE EDUCATIONAL INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED CIN : U80301BR2010SGC015859 Cash Flow Statement (Indirect method) Cash Flows from Operating activities: INR T (2017-18) INR (2017-18) INR ?(2016-17) I (7016-17} Net profit before taxation, and extraordinary item 10.0,81.152 39 2295,52,374.00 Adjustment for: Transfer to reserve Proposed Dividend for current Year Provision for corporate dividend Tax Extra ordinary item Debited to P&L A/c 2,23,01,378-00 Depreciation 17,38,295.14 22,23,94,99 Operating Profit before working capital changes 12,91,20,826.53 Z3,17,86,322.9 Increase in Other Current Assets S,26,59,03,011.12) (8,02,84,56,00737) Decrease In Trade Payable (7,82,81,767.00) (3,92,14,40331) Increase in other current liabilities 5,15,90,797.00 68,00,23,112,00 Decrease in Short term provislon (45,64,E42 0W} (3,44,25,101.70) Cash generated from Operations (5,16,80,37,796,59) (719.02,87,077.39) Income tax paid Cash Flow Before extraordinary item (5,16,80,37,796.59) (7,19,02,87,077.39) Extra ordinary item Debited to P&L A/c Net cash from operating activities (5,16,80,37,796.59) (5,16,80,37,796.59) (7,19,02,37,077.39 7,19,U2,87,077.39) Cash Flows from Investing activities Increase of Tangible Assets (24,07,365.74} (9,64,511.4 ) Decr-se in Intangible Assets 78,808.74 2,41,637.42 Increase in Long term Loans & Advances (14,80,54,827.00) 35,32,858 00 Increase in other non current Assets (3,23,48,05800} (11,89,21,58.50) Net Cash from Investing activities (18,27,31,442.00) (18,27, 31442.00) 11,61,11,504.50) (11,51,11,04-50) Cash flows from Financing activities Proceeds from issuance of Share Capital Jncrease in LOnC-teirmprovision 12,16,24,92,406.00 7,30,92,84,903.50 Net cash used in finacing activities 12,16,24,92,406.00 12,16,24,92,406.00 7,30,92,84,903.50 7,30,92,84,90-50 Net decrease in cash & Cash equivalents 6,81,17,23,167.41 ZB,86,221.61 Cash & Cash equivalents at the beginning 9,51,94,13,408,02 9,5165,27,185,40 Cash & Cash equivalents at the Closing 1,6,33,11,35,57542 951,94,13,408.01 For M.SALAH UDDIN & CO. (Ranjan K i5hra (Neha ShahI (Arvind Kumar Verma) M. SALAH UDDIN CHIEF , dito, Rcompany Secretary Fidependent Director Managing Director M.No.070157 M N17u3 DIN:02480255 DIN:08168553 M. SALAHUDDIN & CO. CharferedAccountants 1.7 105, P.V. Complex, ISt Floor , West Boring Canal Road, L 1-i PATNA-800 001. L ___________ Lr BIHAR STATE EDUCATIONAL INFRASTRUCTURE DEVELOPMENT CORPORATION LIMITED Notes formng integral part of the Balance Sheet as at 31.03.2018 Note No. 1 Equity Share Capital INR gr INR! 1 Authorised 50D00000 Equity Shares of Z1 0/- Par Value 50,00,00,000 00 50,00,00,000¯00 2 Issued, Subscribed & Paidup capital 20000000 Equity Shares of Z10f- Par Value 20,00,00,000.00 20,00,00,000 001 Total in Rs. 2. 00,0c00.00 20,0,00,000.00 Note No. 2 Reserve and Surplus INR t INR ? St No. PartICULm 3-173!åO I Profit and Loss Openling 2,04,55,36,733 54 1,1,59,74,35954 2 Amount Transterred From Statement of P&L 12,73,82,530 39, 22,95,62,374.00 3 Others Total . 1i299.253 2514Z5535,7 Notu No. 3 Other Louig Term Liabiliti[s NR INR 15L Ni Pártiulårä 31-331 3143-17 1 inrsUdue Deveopment e Fin A) Arable & Persion UiversiIy Fmd 00 75,0oo .0 OQ 75,000 00 in)terest ( !eC & Prson Urnvæsty) V83,98? 00 2,0 3,,98 3 3 00 31 7 3g b) Aryabhatta Knowiedge UnIvrslty MP LAD5 Fund( AKU | 5 0 ",1 302 D1 5ß3,15202.0 Fund(AKU 7l- ,000000 ,r. 8 ineest Aryr5ha,' r y 04,556 0D 8I79 9r60 10 33.7J0 23,4565 ,77>00 C) BalBhawan Kilkari 77rd - 1 2,18,90500 ieres9 ý KAP) 19, ,5522._0 1,45,8,4300 ,6, 0474.00 1.34,69 392-00 Fund 745.11 50 ________ 745,693212 50 r9&-Mamv 22Rr6ai-.70148) 3 11590315 00 713t 446. -00 75,U,116W59 CIMP PaIna Int IM2,r3J7QCPI 00 2'(3jT7308 10 .96, 77 650.00 16 77,66O rConnect to National Network Kinowl~ee Pojid r 27,86,16,174 00 27,86,16,174.00 interes! e NMEICT) 2n 72,98159.00 389 333 0 3,0.4800 3.4.,B W 0ß ) Const, of ALdItoKlumr at CflLU Fnd 3,95.Cû o. û 9,95000000 h) Const. of Audirorum, Sabor. Bhagarpur Fund i9,16,000.00 69 1000. 00 nterev eAUrtoaim sawr 9,42,624,80 78.610624.00 7.8.287. 7762 08 2. Const. of B.Ed Building in Mogadh Uni'orsty H -Furd 3,cgoA9 000 ,00 36Q49. 00W 00 For M.SA LAH UDDIN CO. (Ranjan Kr. ishra) (Neha Shah) (P n) (Arvind Kurnar Verma) M. SALAH UDDIN CFO Company Secretary Independent Director Managing Director M,No.070157 M NA4176 DIN:02480255 DIN: 08168553 M. SALAHUDDIN & CO. R5T Chartered Accoungants 3'r,s 0451 - 105, P.V. Certuplex,l st Floor ,i 14 knTjr P-f West Boring Canal Road, I ý i PATNA-800 001. - 3 i ¯T __ feres,t V Iu& rr M U 6C'S 7049 15,16¯¯ 3,71,64,169.00 9 53000 11 0 j Const.of CDPO BuIding FijM 31,60,50,000 00 3 T. $Q ckff. 00 nte 3ÖP u,kfkg) 3,7,5U.379 C00 353ý8,09,Ÿ9.0 13 I0É2.41 77.û 4 29 77W0 cen.r CCIlege" Bu4c'In9 ur,d r iferet CcIlleesUniersisics 1,86 03,43,197 00 110.28.95.857 ¯ 62. 98.930.00 1,95,56,42327.oo 0 1 4,3,327 00 18B3934,0 Const of Coltge Toilets Fund 9.11.87.62.00 9,11,87,628 00 ln.eres( Coiego To-> 199.8 .152.00 11,11,75,780.00 i 8)9535500 10,9 ,8 9"-00 Conist o0 Degree Colleg runa 10,00.00 000 c-o as DGAR, D00 0 Iflrerost 2,97 93 972 0 42, 972,00 2,9,79: 00 37,58,79,35,00 n} Const t f ffmi1 Schoois San. Lr No 107, 051e 2002.16 --183300000 6931G0.00 U) Const. Of Girls H..$. School, PaIlganj Fgif 1,23020000 2 0000 M9iW Gr's H S.FPtgani{At 701 79 g 230200 CWrSt oP HS5 ( 10+2) r 2, 450.0000 2,39,04,87,500 00 rXeresxW C00 HSS 10+2) 5.09.35,272 00 277,51 852 4.7221,169 00 243 77,69.D0 Const. of 1000 SSS School laichayet I laqedtO2-032912-1 5 Dot3d 24 02.2016 10 ,5 12 972 00 95,49, 1E70ý0 n (eresI r .00SS Schcot) Ac-0126 2140 97wa 00 O86,0 9,,0 20, .7 4 9 1-545- 50 6 00 r) Const OP RPHS,RHs & S15 Fund 7 $145,400.00 4,87,46,40000 nM6æSt PeRHNPHS & 5HS{At-70144) 1,4934 I00 4,8.95,.341 3.35.44100 90 ,1,841,00 Canst af SCE1RT Fund 1,58,14,000,00 158 000.OG remECERT- 7D'J9? 2 (44. D 17.46,744.00 7,10 iw5 74i2 0onstl el SSSPI Fund 2,95,006700000 1,79,41,03,000 00 noe&st3SSM,\ 2,67 C06, 469 00 303,67,4S50 3,.21,461301,29,24,461-00 u) Canut af US$8--- nea 14,86 382 00 90,66,.16,332.00 10.40 168 00 15,14,40.16s.00 vj CenstrucUlici of Bapu Smarak Mahila High School, Kad Dirmclc'r ( Secondary E duearu 1, 00,000. 00 1,40,00,000 00 lntems /- 70113 EWC pu Smarak Å 3 653.00 1.,3,0353.00 35,14.63000 1,76.14,630.00 W) Co~trucuan of Building E]lar flindi Granih Academy 3 94 38.339 00 3.94 3 5.00 IntPars( 1H1.ndi Grar-i> 50,380.00 46.46.079.00 ¡¡ Renovatpn Edu Depl 1,43-00, 00 Renwafionot Hoseæ FuNd 1,68,00,000.00 10C000WW0W ROe est i9envaton ot IRei 92 500 . 87, 92500 iv) Dele2mes of Kadas V S. C, 0Siarar Sgwak . m. 41 03 081 00 6.642,842.00 a1t301 00 6ß0.19,220,0D C} CoMruction o[ Eam:. Sl ld i ng_ Fu?Id 85 1236,700 [ ¯¯ 3 41 760.00 'rners,' (Bæm 6'i 35.&04.00 6,45604.00 32 23800 GL20t~0 l . Construction of Sanlk Sc hool Fund- GopargunjE i,26,02,857,00 2.903157 fklersl Samik Scha1 - Gooigur)o 85,58,106 00 B6,53 ,23.00 Fuid- (Sairnk ScMocf Nalai®a) 40.98 < i io 10, 1 loneflst ' Solf Sciool - Naand) ].0. 11l 00 5914,09.12T.00 2,23,394 00 ad) Disri,it Educarion & Trarinirg listiOtute Fund ro Cnntral-SEste spanscred Scherme 49,20,0.00010 49,20>00 000 00 PLi1d-Co1.tg 1GC 0D00 0.00 1,30 0, [000 00 Fund-.Renovalion 9B 00.000 00 96,.0300 00 i'nteres' 3 06,10,399 00 54,54,3.00 2 4,9i322152 2. ael Enm 1ijllding-SnmDndal,NSsirh04 Fund ,0 0,00 o,oc.¯¯ toemst (Eram ?. Mondlo 5 &N Selj 50 63 196 00 5,5078,3096.00 50 7 0 5,50.6,175 00 Bf FumihIrg oP Myojan Elihawan F,'Jd 5000.000 00 92.00,000.00 ineyst LI yqan B?awan(A/c-70S 1,21;51,914.00 54 449.00 92,54,449.0 ag) Furiture Purchase( Olot & Otlers Furid 610 03 000.0 lqierssi'(Frlire urrd 1 6,5 5a 00 163,666.5800 1 ,9o15 00 6,22,95,015.G ah GH Bakhliyarpur & S Haspuri FLxI 2,~ T 00,000.00 11 5, 39Ö0000 oferest GH Bakflyarar &H-S Hasputa(Akt-71 43) 2 13,57,r00 2,3313,571.00 99399,00 ,16,49,399.00 ai) Gulzartagh Wmenn college Fund e 600o00 49600 ns fGlJmL < C-ne 1,5540-00 511.17,00, 1,4f 94.00 5107.209,0 gj1 kfocky Grounit . Sh~astrgar GirSa School - Fnrt42 [55.20800491.GO0 kIterrrsuH*ckry Griune Sfhasfrnagar.| 16.12.6 011 ¯ $f14,725 .00 5J0,491 00Õ 5,26 A91 C ak) IC hScho1 Fund 59.4-o,0(?,00 0-0 59,47.00.000.00 te d Schd y 1T.1,GU,453-069. 311 all Iinstiltionill DevElopijment of C-SEC Fund 1,54, 550 00 68. 5 50.00 ?nt2rest 'ecanrrdary S~dGMO--hon 701155, 49,15,315 69 2.03,86550 4&7.572 6 2,2,9,122-0 an Kausthal Vikash Kindra For MSALAH UDDIN & CD. (Ranjan K Mishra) (Neha Shah) (Priti Tulsyan) (Arvind Kumar Verma) M. SALAH UDDIN CFO M.No.070157 rinpany Secretary Independent Director Managing Director M.No.416 _ DIN:02480255 DIN; 08168553 M. SALAHUDDIN & CO. Chartered Accountants 20 105, P.V. Complex, Ist Floor West Borirg Canal Road, 'Iic -i PATNA-800 001 w àr,ý vä-rf m TT. Fund 90,30,64,800 00 57,38,42,000.00 Interest on Kaushal Vikash Kendra(A/c-70147) 1,22,95,091 00 91,53,59,891.00 24,37,578.00 57,62,79,578.00 an) Lalit Narayan College Fund 7,88,77,961 00 6,40,00,000,00 Interest (GHo)-Lat Narayan) 62,86.499.00 8,51,64.460.00 58,49,289.00 6,98.49,289.00 80) MDM Office Fund 1,24,01,000 00 1,24,01,00000 Interest (4DM Office-70138) 7,77,691 00 1,31,78,691.00 5,95,998.00 i,29,96,998.00 ap) Misc.Fund ________ i) Gandhi Memorial Conclave 1,81,60,729 00 ii) Human Chain Creation 10,43,000 00 ii) Student Credit Card 80,29,605. 0 2,72,33,334.00 aq) NSSP (Retrofiting Work) Fund 94,44,836.00 Interest NSSP Retrofiting (A/c-70152) 1,99,105.00 96,43,941.00 ar) Renovation of 14+11 MS/HS School Fund 70,28,62,000.00 48456, Interest-Renov 14+11 MS/HS School 1,80,16,83000 72,08,78,830.00 1,39,86,224.00 49,82,42,224.00 as) Repair of Schools Under 350th Prakashotsav Scheme Fund 6,44,21,000.00 6,44,21,000.00 6,44,21,000.00 6,44,21,000.00 at) RUSA Fund for Colleges/University under RUSA ?7,08,262.00 12,29,18,92500 Fund for RUSA 2,92,17,000,00 nterest(Rashtiya Shiksha Abhiyan-70137) 8108,35800 3400,33,620,00 15,52,451.00 15,36,88 au) Shiksha Bhawan IFund 16,28,00,000 00 16,28,00, 000 00 interest (DarbangaShiksha Bhawan) 50,61,443 00 16,78,61,443.00 50,61,443.00 16,78,61,443.00 av) Simultala Avasiya Vidyalaya Fund 4,64,05,000 00 2,70,35,000.00 interest (Simultala) 25,03,8667.00 22,06,18900 2,92,41,189.00 aw) Upgradation of MS to MS Fund 3,39,05,81,758 00 2,29,05,81,758.00 interest ( USS - 09-10) 34,60,88,62400 3,73,66,70,382.00 32,87,31,161 00 2,61,93,12,919 ax) World Bank ETEP Fund-Construction Projects 7,45,22,67,800.00 5,77,98,64,000 00 Fund-TA 12,51,60,000 00 12,51,60,000.00 Interest -Projects 13,69,08,981 00 9,54,11,993.00 Interest-(TA) 12,69,797.00 7,71,56,26,578.00 5,97,910.00 6,00,10,33,903.00 ay) Costruction of Boundry Wall for Ramashrai Baleshwa 37,41,329 00 37,41,329 00 az) Double Accounting System 1,50,00,000 00 1,50,00,000 00 ba) Fund for Govt. High School 30.49,000.00 Total (A) 50,55,71,97,203.75 38,36,94,02,237.75 Earnest Money Deposit 1,05,46,810 00 1,31,42,7 Total (B) 1,05,46,810.00 ___ 1,3142,710.00 Long Term provision 2,27 06,660.00 CORE Logistics (ICT -Forfeited BG ) (C) 2,27,06,660.00 Grand Total (A +B+C) 50,56,77,44,013.75 38,40,5251,607.75 r~ ef PCMAAUDIN &Co. (Ranjan Id Mishral (Neha Shah) (Priti Tulsyan) (Arvind Kumar Verma) M.SALAHUDDIN . CCompany secretary Independent Director Managing Director M.No.070157 M..go,A16 DIN;02480255 DIN: 08168553 M. SALAHUDDIN E 2 Chbartere, AccGVR~lt W n 1.; 21~~ 7n7qF11 1i o eIp. V(1 JUNlex IUW 'at Flo f c f UXJ~ &f?3JJ5 Tftq PATNA-8OC 00 1 illT Thf13ll Note No. 4 Trade Payables INR INR__ Note No. 5 Other Current Liabilities INRZ -NR T patti¶culam________________ Statutory Liabilities Provident Fund 6,16,228.00 5,12,290.00 Group Insurance 8,274.00 3,930.00 House Rent Deduction 424.00 6,24,926.00 424.00 5,16,644.00 ii) Duties & Taxes 6,98,32,441.00 .......1,47,90, 659 00 Liability for Expenses Income Tax Refund for 2014-15 23,82,05,217,00 23,82,05,217.00 1,91,48,539.00 25,73,53,756.00 1,12,62,434 00 24,94,67,651.00 Security Deposit 2,40,46,67,186.00 2,33,37,13,003.00 Withheld for Mining Royalty & Time Extention 79,64,57,179.00 T 87,88,56,734.00 Grand Total 3,52,89,35,488.00 3,47,73,44,691.00 Note No 6 ShoIt Term PraviIorLa If t INP Sbort Torm Provision 4 04,22,42221 4,49.87 064 2? Note No. 9 Long-term loans and advances INR i 1 Capital Advance 60,000.00 60,000.00 2 Mobilisation Advance 93,72,844.00 1,29,00,503.00 3 Student Credit Card Computer & Accessories 3 80, 32.00 3,80,532.00 3,80,532.00 3,80,532.00 4 Travelling Advance a) Advance to SPMU 5602900.00 600000 b) Advance to Employees 2513060C' 5854206.00 75181 00 675181.00 5 M1fisc. Advance 14,61,09,811.00 36,350.00 6 Advance to Colleges 3,30,000.00 7 Unreconciled TOS 7,77,195.00 7,719 . Total 16,28,84,588.00 1,48,29,761.00 Note No.10 Other non-current assets INRT INR i 1 Income Tax Paid 82,36,61,064.00 79,21,52,634.00 2 TDS Receivable 8,87,65,649.50 8,79,26,021.50 3 Rent Receivable 6,600.00 6,600.00 Total 91,24,33,313.50 88,00,85,255.50 4For M,SALAN UDDIN & CO. (Ranjan Kr. Mishra) (Neha Shah) (Priti Tulsyan) (Arvind Kumar Verma) M. SALAH UDDIN CFO I Company Secretary Independent Director Managing Director M.No.070157 CHIEF FINANIAL OFFICER M.No.41716 DIN:02480255 DIN:08168553 M. SALAHUDDIN & CO. Chartered ACCOUntant 22: T F Q - Z 2 U JUN 10~iT >h i W06etV Clo Ig Canal Road, West Boxing pATNA'.800 001. Note No 11 Cash and cash equivarents [NRZ INRZ 1. Cash in Hand 17,071 O0 Sub Total (A) 17,071.00 2. Administrative Bank Account a) With 1OB 1 16,98,40,245 21 Z29,58,297 21 b) With Kotak Mahindra Bank 6,55,28,759 00 25,70,900.00 Sub Total (B) 1,23,53,69,004.21 2 97 21 3. Project Wise Bank A/c a) With Axis Bank 79,58,44,209 82 79,72,45,702.8 b) With 10B Account 6,33,19,52,660 19 4.61,91,64,803.42 c) With SBI 15,73,57,166.82 14,70,23,511,82 d) With Canara Bank 13,89,282 38 13,05,586,74 e) With HDFC 31,90,82,734 00 f) With Indusind Bank 15848827 00 Dr Sub Total ( C) 7,E214,74,i Z 5,56,47,39,504f¯i Cash &Bank Total (A+B+C) 8,85,68,60,955.42 5,59,02,68,802.01 4.State P.L A/C a) Others 5,07,90,66,948.00 2,41,06,11,886.00 b) World Bank Projects 2395208672 00 Dr 1,51,85,32,720.00 Total (D) 7,47,42,75320.00 3,92,91,44.606.00 Grand Total (A+B+C+D) Nole No. "12 Other c urrent e N R A> Work~ In Progress (35 GGS JAy. -71172 60992780 7 2.) 9 Der 3g 1 9sE 321 57.63 22%7349263 3.1 Arabion & Persan Uiiv-rsiy E9819520 12930-4 00 4.) Arybhatla KnowIedge UiniesiyE. 79s051138 55 5 9 55 5.) Bapu Srnaak Mahila chOoil E 4323 2 54-232-25 6 LBMSP World Bank Projecis a) Constr.dian 5559252574.44 398548457 44 b) TA 2371711i.51 5592969692-95 399419.5S 54. Exam HållIE N. M SNE5. & B F Palel E 73710 27 7367 10 27 15.) Exarniafinn Hall 72957521 19 768d11i45 19 16.) Gfrir Rncel 175077557 .5 170976245.23 For MS5ALAH UDDIN & CO. ýRanjan K Mishra) (Neha Shah) (Pr[ti Tu syan (Arvind Kumar Verma) M. SALAH UDDIN CHEF FO Company Secretary Independent Director Managing Director M.No.070157 M.NO.41716 DIN:02480255 DIN: 08168553 M. SALAHUDDIN & C R--T c Chartered Accountants T-i u j- 106, P.V. Complex, Ist Floor West Boring Canal Road, 2 PATNA-800 001. 1 17 ) Girls H S. Bakhtiyarpur 8 H S Haspura (E) 16020840 02 6222213.02 1.) Guljarbag Wornan College( E) 5834683 00 583468300 19,) Hindi Granth Academy ¯3581101227 35811012.27 20.) HSS School( E) 2054325953 39 1755670254 39 21.) ICT Expenses( E) 841815294 67 841815294.67 22) KT Maintenance W. (E) 46005484 60 46005484 60 23 ) Kaushal Vikash Kendra (E) 723604480 49 702967735 49 24) 1 N Mishra Institute of Eco Dev.(E) 64958228 47 < 61986219 47 25.) MDM Office (E) 9468091.16 9468091.16 26.) Model School a) Construction 6513523492 97 6340549042 97 b) Furniture 294449948.00 6807973440.97 6,34,05,49,042.97 27.) Rastriya Shiksha Avlyan Office (E) a) Different Colleges 4166850 00 B) Interior Work of RUSA 20792867 75 24959717.75 20640865.75 20640865.75 28) Renovation of 25 (11+14) Middle & HSS (E) 45563686.80 437024475 46 29)R Pd.H.S, H S Rupauli, Govt Girls H.S SeJlarkaa(E) 3903713251 3136663051 30.) Sabour Bhagalpur (E) 5222342 54 4574981 54 31.) Sainik School a) Nalanda 378105836 74 378105836.74 b) Gopalgunj 25,36,13,794 20 631719630.94 253613794.20 631719630.94 32.) SCERT (E) 14670583 27 13215749 27 33 ) Shiksha Bhawan(E) 149000733.66 122806769 19 34 )SSSM (E) 1264412802 76 874956720 16 35) SS$ School (E) 9113554224 72 8279106650 72 36,) Thrut(Sc/St) School (E) 653898631 33 604803938 33 37.) USS 2433659696 66 2331109259,60 38.) USSS (E) 2188971207 62 1903174089.12 39 ) Gandhi memorial Conciave 18797250.00 40) Human Chain Event Expenses 81570300 41) Student credit card 219029900 42) Kilkari (Expenses) 1082154287 1082154287 43 ) Const Exp. of Hockey Ground 3484331.11 3484331 11 44 ) Const. of Boundary Wall Kalidas Vidyapati College 3467323 12 3467323 12 45.) Const, of Building at Girls High School Paligan¯j 514195700 46 ) Const of R.B College Boundary Wall 452371796 4186360 96 47.) Const, of R.P Singh Main Gate 578459.41 578459.41 49) Construction of BEd. Building at M.U,Bodhgaya 1681071400 50 ) Furnilue & Other Installation 74806862 72 74806882.72 51.) Renovation of Education Dept Patna ( Exp) 143800.00 143800.00 52.) NSSP 5139079.00 53.) Simultala Avasiya Vidyalaya (Expenses) 28569235.601 28569235 60 54 ) Interior Work at Niyojan Bhawan 7703720.00 7703720.00 Total Work In Progress (A) 39103342162.71 33835029383.59 Trade Receivable (5) 13,82,514.36 37,92,282.36 For M.SALAH UD DIN & c (Ranjan Kr. Mishra) (Neha Shah) Präti TulsVan) (Arvind Kumar Verma) M. SALAH UDDIN CFO Company Secretary Independent Director Managing Director M.No.070157 CHIEF FNA CAL OFFICER M.No.41716 DIN:02480255 DIN 08168553 M. SALAHUDDIN & CO CharteredAccounfants i6R l¯U7 d1 24 37FTM -ll 761. OS, P.V. Complex, Ist Floor f454 íräJ itk". -q-uff 14rQTa fim ä% qCri West Boring Canal Road, 2 0 JUN L01U PATNA-800 001. Not,o. .13 Riwenue from opetreon NR f C_______nl __________ge_________26B8,15, 4511 52,4936_______ Note No. 14 Other income INR NR 1 Cost of BOO 1,36,32,558 00 2,07,65,000.00 2 Interest Eamed 1,80,28,883 64 1,95,90,214 17 3 Registration Fees 1,37,19,491.00 2,39,00,000.00 4 Olher incomes 55,545.00 10,93,181.76 Note No. 15 Employee benefits expense INR Z INR Z Salary Expenses 10,23,31,533.00 10,44,27,552.00 Other Expenses 80,86,131.00 48,66,991.0- Refreshment Expenses 5,07,577.00 j 3,21,037.00 Grand Total Note No. 16 Depreciation and amortisation expense NR Z N Depreciation & Amortisation 1 Depreciation Tangible Assets 1659487.4 1982311 571 2 Amortisation Intangible Assets 78808.74 241637.2 17,38,296.14 22,23,948.99 NotK No 17 Other expenses NR! INR A Clrect Expenses De4sn L4rkYJ DPR fer A PFqec 2l0, 50,461 00 4,5ß,3 8 Bo Ad-mrflsernnt 25,45 298.0G B5.71.691 00 superäsion Consuke c Chros <32~ ot o )0 9 98 6 94t10 Vehica Hn Charge 2 G77 9V597 900 13 jm-33 ~7 f6,3274 0 1I,33,74.049,33 S indirvet Expenres 1 Audit Feus 3.09, cp 3,42,350.00 n & Jö s[239.00 21,123.01 csR Activiy 8 0f, 00 2 7.2,753 30 For M.SALAH UDDIN & CO. (Ranjan Kr. lishra) (Neha Shah) ( Itifur (Arvind KunmarVerma) M. SALAH UDDIN CHE: c o Company Secretary Independent Director Managing Director M.No.070157 M.No.41716 DIN:02480255 DIN: 08168553 'W- SALAHUJDDIN & CO. è e Charterjd Accountants 25 Tq traf UWM 105, P.V. Complex, I st Floor - ir West Böring Canal Road. PATNA-800 001. 20 JUN å 4 Electricity Expenses 10,05,440.00 11,64,389.00 5 GST & TDS 10,55,313 00 6 Hired Services 78,08,604.00 50,54,965.00 7 Interest & Bank Charges 15,489.23 19,730 32 8 Internet & Telephone Chareges 5,06,189001,6015000 9 Conveyance Expenses(Petrol Remb.) 14,76,000 00 a) Garden Development 3,72,404 00 b) Inaugration Expense 5,60,571.00 2,64,500.00 c) Office Expenses. 6,22,289 00 4,07,606 00 d) Refilling of fire extinguisher 66905.00 16,18,169,00 8,72,108 00 10 Postal Charges 57,753 00 1,15,251.00 11 Repair & Computer Maintenance 18,31,115.00 15,73,516 .00 12 Roc/Legal fees a) ISO Certification Fees 49,450.00 49,450 00 b) ROC/LegalFee 7,42,66200 ,75.35700 c) Sitting Fees For Director. 94,400 00 8,86,512.00 48,300.00 6,73,107.00 13 Chief Minister Relief Fund 2,00,00,000 00 2,40,00,000.00 14 Travelling Expense 2,26,691.00 15 Human Chain Event expenses 8,95,747.00 Total (a) ,49523967.23 6,55,48 480 62 Total (A +B) Note. No.18 Prior Period items INR Prior Period Income ( A) Forfeitted Performance Securities ( Core logistics) 2,27,06,660 00 Prior Period Expenses ( B) WodBank Projects4,5220 Total(A- B) pereqitxsar 5.0 Earnings per equity share Earnings Per Equity Share Basic Basic EPS Before Extra Ordinary Item 6 37 11 46 Diluted Diluited EPS Before Extra Ordinary Item 163 11.48 Number of Shares used in computing EPS Basic 20000000[ 20000000 Weighted Average Number of shares Number of Shares for basic EPS calculation Number of shares for dilutive calculation __2000000 200000010 For M.SALAH UDDIN & CO. (Ranjan Kr, Mlishral (Neha Shah) PIi7u? n)- f (Arvind Kumar Verma) M. SALAH UDDIN CFO Company Secretary Independent Director Managing Director M.No.070157 CHIEF TC M.No.41716 DIN:02480255 DIN: 08168553 M. SALAHUDDIN & C t T gs f r CharterFd -ACCOUntantS J FWa - k a West Boling Canal Road, r J PATNA-600 001. 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'hы л и4э Q'р � F � '�,, ,�,�у � p?j � �i....",�� °"^�}. �' й � !�] ь°'¢v г�f й .rw � w � � �� а�д о�o- � г '� м � о �. _„ _ - - • .� � .,'� Ф в � ,� ч� м � .л , � � � � ? г о� ф � Г �' = L] ;.- _ .'м _. G � � ` � _ � � о � t , � tlз са ы� � � � � � � � � " а s �, � , r�, �, ®� ч ,� � � � , � � ® � ач F � � ,. � '� у, � � ar+ . и � С = .. '" 1µ� зо CG � � � _� � ё _ � а+ уа, � ' й � � � � �"L 4 � ч, G&г q .н�' у � �. � � � � � � �: � � � т � .i . т � �. LL и � �'+. ,гL}.у г ,, � н � s� ш ��� �` " t,� д. i�1 �° г � й t`э €� �. � �,: � ® �] � � � «w Lignificant Accounting Policies & Notes to Accounts 1. Basis of Preparation of Financial Statements: The Financial Statements have been prepared under Historical Cost Convention in accordance with Generally Accepted Principles & Provisions of Companies Act' 2013 as adopted consistently by the company and in accordance with accounting standards prescribed under section 139 of the companies Act 2013. All income and Expenditure having a material bearing on the Financial Statements are recognized on accrual basis. Accounting policies not referred to otherwise are consistent with generally accepted accounting principles. 2. Fixed Assets & Depreciation: Depreciation has been charged as per Companies Act, 2013. Depreciation has been calculated on the basis of straight line method. 3. Inventory: There is no Inventory or Site Stock as on date. 4. Revenue Recoanition: Financial statements have been prepared in accordance with Historical cost convention and accrual method of Accounting. Both Income & Expenses are accounted for Mercantile Basis but some expenses due to their peculiar nature are accounted for on cash basis. The company has claimed centage @7% on the value of works executed during the year and the amount is shown as income in the statement of Profit & loss account. S. Work in Progress: Work in progress is valued at cost inclusive of centage @7% and the same is shown in Other Current Assets. 6. Transaction in Foreign Exchange: There is no foreign currency transaction during the current period. 7. Earnings Per Share: The Company reports Basic and Diluted earnings per Equity Share in accordance with AS-20, "Earning Per Share". Basic Earnings per Share is computed by dividing net Profit after Tax by Weighted Average Number of Equity Share outstanding during the period. k,,)o D)fj 28 .............................. . ..... .......... - - ----------- 8. Taxes on Income: Current Tax: The Company has not provided for Provision for Income Tax as the company is exempted to pay Income Tax as per Section 10(23C)(iii ab). The Company is registered with an object of building Infrastructure for educational Institution. Income received by corporation is used for its sole objective to build educational infrastructure for or on behalf of any university or other educational institution existing solely for educational purpose and not for purpose of profit, and which is wholly or substantially financed by the Government. However, the Company has paid Income tax for Financial Year 2010-11, 2011-12, 2012-13, 2013-14, 2014-15, 2015-16, 2016-17 and 2017-18 The Company has paid advance tax of Z31508430.00 for the financial year 2017-18 also and has claimed refund of the same, however the matter is pending before the Income Tax Authorities. Deferred Tax: Provision for Deferred Taxation has not been made as company has no liability or surplus expected to be arise due to timing difference that exist between the Taxable Income & Accounting Income and which are capable of Reversal in subsequent periods. 9. Mfisce/laneous Expenditure: The Company has followed the principle to write off Miscellaneous Expenditure for period of one year or during the period of benefits derived. 10. Details of Share Undertaking 95% Equity Share of the Company is held by Government of Bihar. Rest 5% Equity Share of the company is held by Nominees of Govt. of Bihar. 11. Corporate Social Responsibility The company has total provision for Z15046760.30 for corporate social responsibility (CSR) which includes provision of Z1701299.00 made during the year. The company has decided to earmark the CSR fund for use in future years. 12. Accounting of Interest Interest received on Savings Bank Accounts on unutilized project fund is transferred to respective project funds and shown under head "Other Long term Liabilities" further, the 29 interest earned on the establishment fund is taken in other Income in Profit & Loss Account. 13. Service Tax Service tax department has raised demand of Rs.27378078.91 during the year 2016-17 against which Rs.26904960.91 is due which is not accepted by the company and is being contested. 14. Others (i) The figures for the previous year have been rearranged and regrouped whenever considered necessary. (ii) There are not extra ordinary expenses debited to Profit and loss account. (iii) Financial accounts have been prepared on going concern assumption. For: M.SALAH UDDIN & CO. CHARTERED ACCOUNTANTS FRN: 000637C 2 0 JUN 2019 2 JN 0M. SALAH UDDIN Proprietor MAIn f7A1 C7 For: BIHAR STATE EDUCATIONAL INFRASTRUCTURE M. SALA HUDDIN & ' DEVELOPMENT CORPORATION LIMITED Chartlred .&countants 105, P.V. Complex, Ist Floc West Boring Canal Road, PATNA-800 001. (Ranjan Kr. 4ishra) (Neha Shah) qPHrit1yiurdAft) qz (Arvind Kumar Verma) CFO Company Secretary Independent Director Managing Director CHEF FOFFICER M.No.41716 DIN:02480255 DIN: 08168553 30