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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
1. FINANCIAL HIGHLIGHTS
(` in '000)
For the period April 01, 2014 to For the period April 01, 2013 to
Particulars
March 31, 2015 March 31, 2014
Proposed Dividend - -
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
Details of material changes and commitment occurred during period affecting financial position of company
1. MATERIAL CHANGES AND COMMITMENT AFFECTING FINANCIAL POSITION: There are no material changes and commitments,
affecting the financial position of the Company which has occurred between the end of the financial year of the Company i.e. March 31, 2015 and
the date of the Directors? report.
The Company has not taken or provided any loans andguarantees, covered under the provisions of Section 186 of the Companies Act, 2013for the
financial year ended March 31, 2015.The Company has not made any investment under Section 186 of the Companies Act, 2013.
Particulars of contracts/arrangements with related parties under section 188(1) [Text Block]
The Company has not taken or provided any loans andguarantees, covered under the provisions of Section 186 of the Companies Act, 2013for the
financial year ended March 31, 2015.The Company has not made any investment under Section 186 of the Companies Act, 2013.
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
Disclosure of extract of annual return as provided under section 92(3) [Text Block]
The details forming part of the extract of the Annual Return in form MGT 9 is annexed herewith as Annexure B.
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
Disclosure of statement on declaration given by independent directors under section 149(6) [Text Block]
The Companys Board during the accounting year has been duly constituted in accordance with the provisions of the Companies Act, 2013.
Four Board Meetings were held during the Financial Year ended March 31, 2015 on June 10, 2014, September 23, 2014, December 12, 2014, and
March 3, 2015. The maximum gap between any two Board meetings was less than One Hundred and Twenty days.
The names of the members of the Board, their attendance at the Board Meetings and the last AGM, are as under:
Sr. No. of Board meetings No. of Board meetings Attendance at AGM held on September
Name of the Director
No. held attended 23, 2014
Mr. Ramchandar
Krishnamoorthy
3. 4 4 Yes
(DIN 06614162)
Mr. Andrew Gordon Crighton had been appointed as additional Director at the Board Meetings held on December 9, 2013. His appointment had
been confirmed at the Annual General Meeting of the Company held on 23rd September, 2014.
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
Disclosure for companies covered under section 178(1) on directors appointment and remuneration including other
matters provided under section 178(3) [Text Block]
Sl. Total
Particulars of Remuneration Directors
no. Amount
Gross salary
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961
1 (b) Value of perquisites u/s 17(2) of Income-tax Act, 1961 42,924 42,924
2 Stock Option - -
3 Sweat Equity - -
Commission
5 - as % of profit - -
- others, specify
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
Sl. Particulars of
Key Managerial Personnel
no. Remuneration
Company
CEO CFO Total
Secretary
- - -
Gross salary
Act, 1961
2 Stock Option - - - -
3 Sweat Equity - - - -
Commission
4 - as % of profit - - - -
- others, specify
Others, please
5 - - - -
specify
Total - - - -
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
Disclosure of statement on development and implementation of risk management policy [Text Block]
1. RISK MANAGEMENT:
The Company followsa Risk Management framework involving employees at different levels of operations to identify, evaluate business risks
and opportunities. This framework seeks to create internal transparency, minimize adverse impact on the business objectives and enhance the
Companys competitive advantage. The business risk framework defines the risk management approach at various levels including documentation
and reporting.
The Company has constituted Control Committees which ensure implementation of standard operational control principles (risk assessment,
control plans)with regular reporting to management. The role of the Committees include reviewing key risks, incidents and mitigating actions
planned/implementedand to follow-up implementation of the same. The Operational Permanent Control (OPC) Managers ensure coverage of key
risk components in terms of incidents, control failures, key risk areas, regulatory controls in the regular reporting to management.
Details on policy development and implementation by company on corporate social responsibility initiatives taken
during year [Text Block]
As required under section 135 of the Companies Act, 2013, read with the Companies (Corporate Social Responsibility Policy) Rules 2014, the
Company has established Corporate Social Responsibility (CSR) Committee and statutory disclosures with respect to the CSR Committee and an
Annual Report on CSR Activities forms part of this Report as Annexure A.
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
1. FINANCIAL HIGHLIGHTS
(` in 000)
For the period April 01, 2014 to For the period April 01, 2013 to
Particulars
March 31, 2015 March 31, 2014
Proposed Dividend - -
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
In todays time, no industry can exist without information technology. It is essential to focus on information technology to run businesses
successfully. Government of Indias Digital India Initiative is already attracting foreign investments and collaborations. Small and medium Indian
businesses have a high degree of technology influence and are looking to adopt newer IT products. This will drive the Indian IT market.
BNP Paribas India Solutions is a wholly owned subsidiary of BNP Paribas Group, which is one of the leading banking groups in the world. With
two delivery centers located in Mumbai and Chennai, BNP Paribas India Solutions is a global delivery center. Today, BNP Paribas India
Solutions provides best-in-class solutions in three main business verticals namely information technology, operations and finance.
Details of directors or key managerial personnels who were appointed or have resigned during year [Text Block]
Mr. Andrew Gordon Crighton had been appointed as additional Director at the Board Meetings held on December 9, 2013. His appointment had
been confirmed at the Annual General Meeting of the Company held on 23rd September, 2014.
Disclosure of companies which have become or ceased to be its subsidiaries, joint ventures or associate companies
during year [Text Block]
1. SUBSIDIARIES:
The Company does not have any subsidiaries and associate/ joint venture.
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
Details relating to deposits covered under chapter v of companies act [Text Block]
1. DEPOSIT:
The Company has not accepted deposit from the public falling within the ambit of Section 73 of the Companies Act, 2013 and the Companies
(Acceptance of Deposits) Rules, 2014 for the financial year ended March 31, 2015.
Details of deposits which are not in compliance with requirements of chapter v of act [Text Block]
1. DEPOSIT:
The Company has not accepted deposit from the public falling within the ambit of Section 73 of the Companies Act, 2013 and the Companies
(Acceptance of Deposits) Rules, 2014 for the financial year ended March 31, 2015.
Details of significant and material orders passed by regulators or courts or tribunals impacting going concern status
and company?s operations in future [Text Block]
There are no material changes and commitments, affecting the financial position of the Company which has occurred between the end of the
financial year of the Company i.e. March 31, 2015 and the date of the Directors report.
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
Details regarding adequacy of internal financial controls with reference to financial statements [Text Block]
The Company has an Internal Control System, commensurate with the size, scale and complexity of its operations.
As required under section 135 of the Companies Act, 2013, read with the Companies (Corporate Social Responsibility Policy) Rules 2014, the
Company has established Corporate Social Responsibility (CSR) Committee and statutory disclosures with respect to the CSR Committee and an
Annual Report on CSR Activities forms part of this Report as Annexure A.
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
Sl. Total
Particulars of Remuneration Directors
no. Amount
Gross salary
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961
1 (b) Value of perquisites u/s 17(2) of Income-tax Act, 1961 42,924 42,924
2 Stock Option - -
3 Sweat Equity - -
Commission
5 - as % of profit - -
- others, specify
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
Sl. Particulars of
Key Managerial Personnel
no. Remuneration
Company
CEO CFO Total
Secretary
- - -
Gross salary
Act, 1961
2 Stock Option - - - -
3 Sweat Equity - - - -
Commission
4 - as % of profit - - - -
- others, specify
Others, please
5 - - - -
specify
Total - - - -
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
We have audited the accompanyingfinancial statements of BNP Paribas India Solutions PrivateLimited (the Company), which comprise the
Balance Sheet as at March 31, 2015, the Statement of Profit and Loss andCash Flow Statement for the year then ended and a summary of
significant accounting policies and other explanatory information.
The Companys 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 with Rule 7 of the Companies (Accounts) Rules, 2014. 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.
Auditors Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit.
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
We have taken into account the provisions of the Act, the accounting and auditing standards andmatters which are required to be included in the
audit report under the provisions of the Act and theRules made thereunder.
We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those Standards require that
we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are
free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures
selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the financial statements, whether due
to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Companys preparation of the
financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the
purpose of expressing an opinion on whether the Company has in place an adequate internal financial control system over financial reporting and
the operating effectiveness of such controls. An audit also includes evaluating the appropriateness of the accounting policies used and the
reasonableness of the accounting estimates made by the Companys Directors, as well as evaluating the overall presentation of the financial
statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial
statements.
Opinion
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 March 31, 2015 and its profit and its cash flows for the year ended on that date.
1. As required by the Companies (Auditors Report) Order, 2015 (the Order) issued by the Central Government of India in terms of sub-section
(11) of section 143 of the Act, we give in the Annexure a statement on the matters specified in the paragraph 3 and 4 of the Order, to the extent
applicable.
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
a. We have sought and obtained all the information and explanations which to the best ofour 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 keptby the Company so far as appears from our examination of those
books.
c. The Balance Sheet, Statement of Profit and Loss, and Cash FlowStatement 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 onMarch 31, 2015 and taken on record by the Board of Directors,
none of the directors is disqualified as on March 31, 2015, from being appointedas a director in terms of section 164 (2) of theAct.
f. With respect to the other matters to be included in the Auditors 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:
a. The Company does not have any pending litigations which would impact its financial position.
b. The Company did not have any long term contracts including derivative contracts for which there were any material foreseeable losses.
c. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
CHARTERED ACCOUNTANTS
Roshni Marfatia
PARTNER
M. No.:106548
Mumbai:
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
Annexure referred to in paragraph 1 of our report under the heading Report on Other Legal
and Regulatory Requirements of even date.
1. (a) The Company has maintained proper records showing full particulars, including quantitative details and situation of fixed assets.
(b) According to the information and explanations given to us, the fixed assets were physically verified by the management which in our opinion
is reasonable having regard to the size of the Company and the nature of its assets. The discrepancies noticed were not material and have been
properly dealt with in the books of account.
(c) In our opinion, the Company has not disposed off a substantial portion of its fixed assets during the year, so as to affect the going concern
assumption.
2. The Company being a service company does not have any physical inventory, thus the provisions of clause 3 (ii) of the Companies
(Auditors Report) Order, 2015 are not applicable to the Company.
3. The Company has not granted any loans, secured or unsecured, to companies, firms or other parties listed in the register maintained under
section 189 of the Companies Act.
4. In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate
with the size of the Company and the nature of its business for the purchases of fixed assets and for thesale of services. We have not come across
any continuing failure to correct major weaknesses in the internal control system.
5. In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits from the public.
6. In our opinion and according to the information and explanations given to us, the Central Government has not prescribed maintenance of
cost records under section 148 (1) of the Act, in respect of the activities carried on by the Company.
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
7. (a)According to the records examined by us, the Company is generally regular in depositing undisputed statutory dues including provident
fund, investor education and protection fund, employees state insurance, income tax, sales tax, wealth tax, service tax, duty of customs, duty of
excise, value added tax, cess and other statutory dues, where applicable, with the appropriate authorities. There were no undisputed amounts
payable in respect of the aforesaid dues outstanding as at the end of the financial year for a period of more than six months from the date they
became payable.
(b)According to the information and explanations given to us and the records examined by us, there are no dues of income tax, wealth tax,
customs duty, service tax, excise duty or cess as at the end of the financial year, which have not been deposited on account of any dispute, except
as stated below:
8.The Company has no accumulated losses at the end of the financial year and it has not incurred any cash loss in the current year and in the
immediately preceding financial year.
9.According to the information and explanations given to us and based on the documents and records produced before us, there has been no
default in repayment of dues to banks. There are no dues to financial institutions or debenture holders.
10. In our opinion and according to the information and explanations given to us, the term loan obtained by the Company was applied for the
purpose for which the loan was obtained.
11. According to the information and explanations given to us and the records examined by us, the Company has not given any guarantees for
loans taken by others from banks or financial institutions.
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
12. Based on the audit procedures performed by us, to the best of our knowledge and belief and according to the information andexplanations
given to us by the Management, no fraud on, or by the Company, has been noticed or reported during the period.
For Kalyaniwalla&Mistry
Chartered Accountants
Roshni Marfatia
Partner
Place: Mumbai
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
Disclosure of shareholding more than five per cent in company [Table] ..(1)
Unless otherwise specified, all monetary values are in Thousands of INR
Classes of share capital [Axis] Equity shares [Member] Equity shares 1 [Member]
Name of shareholder [Axis] Shareholder 1 [Member] Shareholder 1 [Member]
01/04/2014 01/04/2013
31/03/2015 31/03/2014 to to
31/03/2015 31/03/2014
Disclosure of shareholding more than five per cent in
company [Abstract]
Disclosure of shareholding more than five per cent
in company [LineItems]
Type of share EQUITY Equity
BNP Paribas S.A BNP Paribas S.A and
Name of shareholder and its nominees its nominees
Country of incorporation or residence of
FRANCE FRANCE
shareholder
Number of shares held in company [shares] 10,00,000 [shares] 10,00,000 [shares] 10,00,000 [shares] 10,00,000
Percentage of shareholding in company 10.00% 10.00%
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
[200800] Notes - Disclosure of accounting policies, changes in accounting policies and estimates
Unless otherwise specified, all monetary values are in Thousands of INR
01/04/2014
to
31/03/2015
Disclosure of accounting policies, change in accounting policies and Textual information (27)
changes in estimates explanatory [TextBlock] [See below]
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
Disclosure of accounting policies, change in accounting policies and changes in estimates explanatory [Text Block]
Significant
3 accounting
policies
a Use of estimates
Cash and cash equivalents for the purpose of the Cash Flow Statement
comprises cash on hand, cash in bank and fixed deposits and other
short-term highly liquid investments with original maturity of three months or
less that are readily convertible into known amount of cash and which are
subject to an insignificant risk of change in value.
Cash flows are reported using the indirect method, whereby profit / (loss)
before extraordinary items and tax is adjusted for the effects of transactions of
non-cash nature and any deferrals or accruals of past or future cash receipts
or payments. The cash flows from operating, investing and financing activities
of the Company are segregated based on the available information.
Fixed assets are stated at cost of acquisition, including any cost attributable
for bringing the asset to its working condition, less accumulated depreciation.
Gains or losses arising from derecognition of fixed assets are measured as
the difference between the net disposal proceeds and the cost of the assets
less accumulated depreciation upto the date of disposal and are recognised
in the Statement of Profit and Loss when asset is derecognised.
Depreciation on assets is provided on straight line method over the useful life
60
Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
Change in estimates:
Pursuant to notification of
Schedule II to the Companies
Act, 2013 the Company has,
with effect from April 1, 2014,
realigned the useful life of Office
equipment from 8 years to 5
years. Pursuant to such
change, the carrying amount of
such assets as on April 1, 2014
has been depreciated over the
remaining useful life, resulting in
the depreciation charge for the
year being higher by ` 28,287
thousand and where the
remaining useful life has been
exhausted, the carrying amount
of such assets amounting to `
24,446 thousand has been
charged to the Statement of
Profit and Loss.
g Impairment of assets
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
The carrying amounts of assets at each Balance Sheet date are reviewed for
impairment. If any indication of impairment based on internal / external factors
exists, the recoverable amount of such assets is estimated and impairment is
recognised wherever the carrying amount of an asset exceeds its recoverable
amount. The recoverable amount is the greater of the net selling price and its
value in use which is arrived at by discounting the future cash flows to their
present value based on an appropriate discount factor. When there is
indication that an impairment loss recognised for an asset in earlier
accounting periods no longer exists or may have decreased, such reversal of
impairment loss is recognised in the Statement of Profit and Loss, except in
case of revalued assets.
h Employee benefits
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
changes in actuarial
assumptions and are
iii.
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
i Revenue recognition
j Leases
Leases of assets under which all the risks and benefits of ownership are
effectively retained by the lessor are classified as operating leases. Amount
due under the operating leases are charged to the Statement of Profit and
Loss, on a straight - line basis over the lease term in accordance with
Accounting Standard 19 on Leases as notified under the Companies
(Accounting Standards) Rules, 2006. Initial direct costs incurred specifically
for operating leases are recognised as expense in the year in which they are
incurred.
Basic earnings per share is computed by dividing the net profit / (loss) after
tax by the weighted average number of equity shares outstanding during the
year. Diluted earnings per share is computed by dividing the net profit / (loss)
after tax as adjusted for 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.
l Taxes on income
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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, being the 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.
Deferred tax is measured using the tax rates and the tax laws enacted or
substantially enacted as at the Balance Sheet date. Deferred tax assets other
than unabsorbed depreciation and carry forward of losses are recognised only
to the extent that there is a reasonable certainty that sufficient future taxable
income will be available against which such deferred tax assets can be
realised. Deferred tax assets in respect of unabsorbed depreciation and carry
forward of losses are recognised only if there is virtual certainty supported by
convincing evidence that the same can be realised against future taxable
profits. At each Balance Sheet date the Company re-assesses unrecognised
deferred tax assets. It recognises unrecognised deferred tax assets to the
extent that it has become reasonably certain, that sufficient future taxable
income will be available against which such deferred tax assets can be
realised. Minimum Alternate Tax (MAT) paid in accordance with the tax laws,
which gives future economic benefits in the form of adjustment to future
income tax liability, is considered as an asset if there is convincing evidence
that the Company will pay normal income tax. Accordingly, MAT is recognised
as an asset in the Balance Sheet when it is probable that future economic
benefit associated with it will flow to the Company.
Transactions in foreign
currencies are recorded at the
i. rate of exchange in force at the
time of occurrence of the
transactions.
Non-monetary items
outstanding at the Balance
iv. Sheet date are reported using
exchange rates at the date of
the transactions.
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
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Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
The Company accounts for its defined benefit obligations for funded gratuity benefits with SBI Life Insurance Company Limited
and BNP Paribas India Solutions Employee's Gratuity Fund on the basis of an independent actuarial valuation based on the
projected unit credit method carried out as at the year end.
The employees of the Company are entitled to compensated absences and leave encashment as per the policy of the
Company, the liability in respect of which is provided, on the basis of an independent actuarial valuation based on the projected
unit credit method carried out as at the year end.
Actuarial gains and losses comprise experience adjustments and the effects of changes in actuarial assumptions and are
recognised immediately in the Statement of Profit and Loss as income or expense.
The undiscounted amount of short-term employee benefits expected to be paid in exchange for services rendered by an
employee is recognised during the period when the employee renders the service.
67
Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
68
Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
69
Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
70
Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
71
Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
72
Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
73
Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
74
Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
75
Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
Revenue
recognition
Revenue from computer software, information technology enabled and back office processing services is
i. recognised on the basis of an agreed mark-up on costs incurred, in accordance with agreements entered into with
the customer.
Interest income is recognised on time proportion basis taking into account the amount outstanding and rate
ii.
applicable.
[300700] Notes - Key managerial personnels and directors remuneration and other information
Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and directors [Table] ..(1)
Unless otherwise specified, all monetary values are in Thousands of INR
Key managerial personnels and directors [Axis] 1 2 3 4
01/04/2014 01/04/2014 01/04/2014 01/04/2014
to to to to
31/03/2015 31/03/2015 31/03/2015 31/03/2015
Disclosure of key managerial personnels and directors and
remuneration to key managerial personnels and directors
[Abstract]
Disclosure of key managerial personnels and directors
and remuneration to key managerial personnels and
directors [LineItems]
JAIKUMAR ANDREW
Yves Maurice Guy RAMCHANDAR
Name of key managerial personnel or director VINODKUMAR
Marie Drieux KRISHNAMOORTHY
GORDON
SHETH CRIGHTON
Director identification number of key managerial
02944161 06613490 06614162 06754329
personnel or director
Date of birth of key managerial personnel or
24/07/1975 19/08/1954 02/02/1966 06/02/1965
director
Whole Time O t h e r N o n Other Non Executive O t h e r Non
Designation of key managerial personnel or director Director Executive Director Director Executive Director
Qualification of key managerial personnel or
NA
director
Shares held by key managerial personnel or director [shares] 0
Key managerial personnel or director remuneration
[Abstract]
Gross salary to key managerial personnel or
director [Abstract]
Gross salary to key managerial personnel or
0
director
Total key managerial personnel or director
0
remuneration
76
Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
Disclosure of key managerial personnels and directors and remuneration to key managerial personnels and directors
explanatory [Text Block]
77
Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
5 Jacques Michel, CEO & Country Head BNP Paribas India Permanent Invitee Member
6 Anjali Patil, Group Head - Brand and Communications Permanent Invitee + CSR Coordinator
78
Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
Introduction:
For BNP Paribas Group, implementing its Corporate Social Responsibility (CSR) policy means financing the real
economy while striving to protect the environment and fight against exclusion.
The main program areas identified by BNP Paribas India Branch are as follows:
1. Education
3. Healthcare
5. Rural development
CSR
: 6. Environment, and
Policy
7. Contribution to the PMs Relief Fund
The CSR policy also defines the roles and responsibilities of the members of the CSR Committee and its composition.
The Committee is responsible for the preparation and implementation of the CSR Policy, review and approval of
budgets, developing a monitoring framework for implementation and the preparation of the Annual CSR Report.
http://www.bnpparibasindiasolutions.com/aboutus.html#
Funding towards pre-primary classes Prithvi and Jal of Kherwadi Municipal School run by Aseema Charitable Trust
covering honorarium towards various teachers, student meals, maintenance and miscellaneous expenses.
Funding towards sponsoring 6 Teach For India Fellows (2 in Mumbai and 4 in Chennai).
79
Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
Introduction:
For BNP Paribas Group, implementing its Corporate Social Responsibility (CSR) policy means financing the real
economy while striving to protect the environment and fight against exclusion.
The main program areas identified by BNP Paribas India Branch are as follows:
1. Education
3. Healthcare
5. Rural development
CSR
: 6. Environment, and
Policy
7. Contribution to the PMs Relief Fund
The CSR policy also defines the roles and responsibilities of the members of the CSR Committee and its composition.
The Committee is responsible for the preparation and implementation of the CSR Policy, review and approval of
budgets, developing a monitoring framework for implementation and the preparation of the Annual CSR Report.
http://www.bnpparibasindiasolutions.com/aboutus.html#
Funding towards pre-primary classes Prithvi and Jal of Kherwadi Municipal School run by Aseema Charitable Trust
covering honorarium towards various teachers, student meals, maintenance and miscellaneous expenses.
Funding towards sponsoring 6 Teach For India Fellows (2 in Mumbai and 4 in Chennai).
80
Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
Disclosure manner in which amount CSR spent during financial year explanatory [Text Block]
1 2 3 4 5 6 7 8
Direct
expenditure
on program
8.73 lakhs
Funding for
Implementing
Kherwadi
1 Education Mumbai 8,73,000 8,73,000 agency Aseema
Municipal
Charitable Trust
School
Overheads
NIL
Direct
expenditure
2 Fellows on program
in Mumbai
Support for 21 lakhs Implementing
2 Teach for Education 21,00,000 21,00,000 agency Teach For
India Fellows India
4 Fellows
in Chennai Overheads
NIL
Direct
expenditure
81
Bnp Paribas India Solutions Private Limited Standalone Financial Statements for period 01/04/2014 to 31/03/2015
NIL
Disclosure responsibility statement of CSR committee that implementation and monitoring of CSR policy is in
compliance with CSR policy of company
Responsibility Statement of the CSR Committee: Declaration of responsibility: The CSR Committee of BNP Paribas India Solutions Private
Limited hereby declares that the implementation and monitoring of BNP Paribas India Solutions Private LimitedCSR Policy is in compliance
with the CSR Objectives and the Policy of the Bank. Jai Sheth DIN02944161 Chief Operating Officer & Chairman of CSR Committee K
Ramchandar DIN 06614162 Director & Member of CSR Committee
Disclosure responsibility statement of CSR committee that implementation and monitoring of CSR policy is in
compliance with CSR policy of company
Responsibility Statement of the CSR Committee: Declaration of responsibility: The CSR Committee of BNP Paribas India Solutions Private
Limited hereby declares that the implementation and monitoring of BNP Paribas India Solutions Private LimitedCSR Policy is in compliance
with the CSR Objectives and the Policy of the Bank. Jai Sheth DIN02944161 Chief Operating Officer & Chairman of CSR Committee K
Ramchandar DIN 06614162 Director & Member of CSR Committee
82