BCBA Annual Report

Annual Report 2018-19 49

Dear Mr. Hiren Ruparel, To
The Doing Business team would like to thank BCBA
you for your valuable contribution to the report Dear Sir,
Doing Business 2019: Training for Reform. The We thank you to the Association and special thanks to
report was launched with great success and /T 2CTGUJDJCK 6JCMMCT YJQ JCU UGNƀGUUN[ VQQM GHHQTVU
extensive media coverage. We are delighted to by all of his strength to help us out in the matter with
UGPF [QW VJKU CVVCEJGF EGTVKſECVG KP CRRTGEKCVKQP Safmarine Line.
of all your time and effort in the development He ideally took efforts to get our importer the waiver
of the Doing Business indicators. You may detention charges imposed by the Shipping Line.
download the report from this website: http:// We are really glad that Mr. Pareshbhai personally
www.doingbusiness.org/report Doing fought and got us the waiver of Rs. 10,00,000/- (Ten
Business 2019: Training for Reform is the 16th Lacks).
in an annual series of reports measuring the Our whole heartedly appreciation for putting efforts
regulations that enhance business activity and CPF ſIJVKPI HQT 4KIJV
those that constrain it. Contributions like yours Best Regards
have been essential for ensuring the quality and
timeliness of the data in the Doing Business Pratap Bhanushali
reports and, of course, we would be very glad Cargo Systems India Pvt Ltd
to rely on your continued cooperation in the
project. Dear Vice President (BCBA),
We would also like to invite you to visit our This is to place on record my sincere thanks
interactive website at http://www.doingbusiness. to the BCBA team and special thanks to Mr.
org, where we have acknowledged your Vinayak B Aparaj and his team for helping me
important contribution to the project in our VQ RTQEGUU O[ #'1 .1 %GTVKſECVKQP YJKEJ +
“Contributors” section. The website provides received after about 4 months.
more detailed information on the methodology It was my good fortune that I received
and background studies and permits customized O[ %GTVKſECVG QP YJKEJ YCU
queries and cross-country comparisons of the remarkable moment for my organization.
indicators. Thank you again for sharing your I would like to make a special mention of
expertise with us. the untiring efforts taken by Mr. Vinayak B
Aparaj, who took interest and shared me
Sincerely, DGPGſVU QH #'1 %GTVKſECVG VQ KVU NQIKECN GPF
The Doing Business Team All the very best for the entire BCBA
http://www.doingbusiness.org The World Bank Committee Team and keep bringing in new
Group Reforms for making the life of our fraternity
members more comfortable and stree-free
1818 H St. NW, Washington DC 20433, USA
Thanks and Regards
Dear BCBA Team & CMA CGM Team, Pradeep Sakpal
We are thankful to BCBA Team & CMA Team Managing Director
for resolving the matter. Vertex Total Logistics Pvt Ltd
Special thanks to Paresh Thakkar Sir & Jude
Sir of BCBA and also special thanks to Lele sir,
Anirudhha sir, Aranha sir, Jaiswal sir of CMA
Team.
Regards
Prashant Padave

Universal Freight Movers

50 Brihanmumbai Custom Brokers Association

HONORARY TREASURERS'

REPORT

FOR THE YEAR 2018–2019

Date: 19th August, 2019

Dear Members,

I feel greatly honoured and privileged to present
the Audited Income & Expenditure Account for the
year 2018-2019 and the Balance Sheet as on
31st March 2019 (enclosed herewith).
The account has been audited by our auditors
M/s. B. M. Mehta & Co.
Our Association has made a surplus of Rs.2,48,764.00 before write-off of Extraordinary Items of
Rs.56,174.00 which pertains to Membership fees, table space.
The Cash & Bank equivalents have increased from Rs. 57,452,723.00 to Rs. 61,573,116.00 a growth of
Rs.41,20,393.00 in current year.
During the year under review, 93 new Members have been enrolled and total membership now stands
at 2078.
I wish to place on record my sincere appreciation for the whole hearted co-operation received from
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Association.
I also thank our Auditor M/s. B. M. Mehta & Co. who have completed the audit and prepared the audit
report in time.
I also thank all the Staff Members of the Association Secretariat for their sincere efforts in completing the
accounts in time.

HIREN RUPAREL
HON. TREASURER
(On behalf of Managing Committee Members)

Annual Report 2018-19 51

Independent Auditor's Report

To the Members of BRIHANMUMBAI CUSTOM BROKERS ASSOCIATION
(Formerly known as BRIHANMUMBAI CUSTOM HOUSE AGENTS’
ASSOCIATION)

Report on the Audit of the Financial Statements

Opinion

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(QTOGTN[
known as BRIHANMUMBAI CUSTOM HOUSE AGENTS’ ASSOCIATION) (”the Association”), which comprise the
Balance Sheet as at 31st March 2019, and the Statement of Income and Expenditure (including other comprehensive
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explanatory information.

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid
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and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state
of affairs of the Association as at 31st March 2019, and excess of Income over Expenditure for the year ended on
that date subject to the Notes to Financial Statements attached vide Note 1.

Basis for Opinion

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Act. Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the Audit
of the Financial Statements section of our report. We are independent of the Association in accordance with the
Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that
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for our opinion.

Key Audit Matters

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statements as a whole, and in forming our opinion thereon and we do not provide a separate opinion on these
matters. Key Audit Matters are not applicable to the Association as it is an unlisted company.

Information other than the Financial Statements and Auditor’s Report thereon

The Association’s management and members of the managing committee are responsible for the other information.
The other information comprises the information included in the Association’s annual report, but does not
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assurance conclusion thereon.

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knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have
performed, we conclude that there is a material misstatement of this other information, we are required to report
that fact. We have nothing to report in this regard.

52 Brihanmumbai Custom Brokers Association

Responsibilities of Management and Those Charged with Governance for the
Financial Statements

The Association’s Management and members of the managing committee are responsible for the matters stated in
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section 133 of the Act. This responsibility also includes maintenance of adequate accounting records in accordance
with the provisions of the Act for safeguarding of the assets of the Association 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
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are free from material misstatement, whether due to fraud or error.

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assessing the Association’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
Association or to cease operations, or has no realistic alternative but to do so.

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Auditor’s Responsibilities for the Audit of the Financial Statements

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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. Misstatements can arise from fraud or error and
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As part of an audit in accordance with SAs, we exercise professional judgement and maintain professional skepticism
throughout the audit. We also :

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and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting
from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of internal control.

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appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing
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statements in place and the operating effectiveness of such controls.

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related disclosures made by management.

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on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that
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material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures
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are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or
conditions may cause the Company to cease to continue as a going concern.

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achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and
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identify during our audit.

Annual Report 2018-19 53

We also provide those charged with governance with a statement that we have complied with relevant ethical
requirements regarding independence, and to communicate, with them all relationships and other matters that may
reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most
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describe these matters in our auditors’ report unless law or regulation precludes public disclosure about the matter
or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report
because the adverse consequences of doing so would reasonably be expected to outweigh the public interest
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Report on other Legal and Regulatory Requirements

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(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, since in our opinion and according to the information and
explanations given to us, the said order is not applicable to the Association.

2. 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 purposes of our audit.

b. In our opinion, proper books of accounts as required by law have been kept by the Association so far as
it appears from our examination of those books.

c. The Balance Sheet and the Statement of Income and Expenditure, dealt with by this Report are in
agreement with the books of account

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section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

e. On the basis of the written representations received from the members of the managing committee as on
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on 31st March 2019 from being appointed as a member in terms of Section 164 (2) of the Act.

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Association and the operating effectiveness of such controls, refer to our separate Report in “Annexure A”.

3. 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 :

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KVU ſPCPEKCN UVCVGOGPVU

ii. The Association did not have any long – term contracts including derivatives contracts for which there
were any material foreseeable losses;

iii. There were no amounts which were required to be transferred to the Investor Education and Protection
Fund by the Association;

4. With respect to the matter to be include in the Auditors’ Report under section 197 (16);

In our opinion and according to the information and explanations given to us, the Association has not paid any
remuneration to its members during the current year as per the provisions of Section 197 of the Act. The Ministry
of Corporate Affairs has not prescribed other details under Section 197 (16) which are required to be commented
upon by us.

For B. M. Mehta & Co.
Chartered Accountants
FRN: 106188W

Place: Mumbai Ashit R. Mehta
Date: 20th August 2019 Proprietor
Membership No. 033252

54 Brihanmumbai Custom Brokers Association

Annexure ‘A’ to the Independent Auditors’ Report

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of
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ASSOCIATION (Formerly known as BRIHANMUMBAI CUSTOM HOUSE AGENTS’ ASSOCIATION) (“the
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for the year ended on that date.

Management’s Responsibility for Internal Financial Controls

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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 (‘ICAI’). These responsibilities include
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safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the
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Act, 2013.

Auditors’ Responsibility

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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
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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
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in all material respects.

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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, including
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Meaning of Internal Financial Controls over Financial Reporting

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statements in accordance with generally accepted accounting principles, and that receipts and expenditures of
the association are being made only in accordance with authorisations of Managing Committee of the association;
and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or
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Annual Report 2018-19 55

Inherent Limitations of Internal Financial Controls Over Financial Reporting

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of collusion or improper management override of controls, material misstatements due to error or fraud may occur
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inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may
deteriorate.

Opinion

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UV /CTEJ DCUGF QP VJG KPVGTPCN EQPVTQN QXGT ſPCPEKCN TGRQTVKPI ETKVGTKC GUVCDNKUJGF D[ VJG #UUQEKCVKQP
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 B.M. Mehta & Co.
Chartered Accountants
FRN: 106188W

Place: Mumbai Ashit R. Mehta
Date: 20th August 2019 Proprietor
Membership No. 033252

56 Brihanmumbai Custom Brokers Association

BRIHANMUMBAI CUSTOM BROKERS ASSOCIATION

(Formerly known as BRIHANMUMBAI CUSTOM HOUSE AGENTS’ ASSOCIATION)
CIN-U63090MH1984NPL034904

BALANCE SHEET AS ON 31ST MARCH 2019

Particulars Note Amount as at Amount as at
March 31, 2019 March 31, 2018

` `

I. EQUITY AND LIABILITIES 2 -- --
Shareholders’ funds 67,410,179 65,757,589
Share capital 3
Reserves and surplus -- --
Non-current liabilities 4 2,431,572 2,368,572
Long-term borrowings
Deferred tax liabilities (Net) 5 -- --
Other Long term liabilites 6
Long-term provisions -- --
Current liabilities 7 -- --
Short-term borrowings 12,650,053 12,407,537
Trade payables 8 -- --
Other current liabilities 9 82,491,804 80,533,698
Short-tems provisions 10
TOTAL 6,134,160 6,841,439
215,787 257,534
II. ASSETS -- --
Non-current assets 234,500 234,500
Fixed Assets -- --
(i) Tangible assets -- --
(ii) Intangible assets -- --
(iii) Capital work-in progress
(iv) Intangible assets under development 1,582,723 1,497,479
Non-current investments -- --
Deferred tax assets (net) -- --
Long-term loans and advance -- --
Other non-current assets -- --
Current assets
Current investments 61,573,116 57,452,723
Inventories 584,500 724,000
Trade receivables
Cash and Bank equivalents 12,167,019 13,526,023
Short-term loans and advances
Other current assets 82,491,804 80,533,698
TOTAL

Notes to accounts note “1” as per our report of even date

B. M. Mehta & Co.
Chartered Accountants

Karunakar Shetty Kiran Rambhia
President Sr.Vice-President
DIN NO.:-03643517 DIN NO.:-01237977

Mumbai (Ashit R. Mehta) Mumbai Paresh Thakkar Hiren Ruparel
Date:- 20.08.2019 Proprietor Date:- 20.08.2019 Hon. Secretary Hon. Treasurer
F.R.N.No.: 106188W DIN NO.:-06420628 DIN NO.:-02219868
M. No.: 033252

Annual Report 2018-19 57

BRIHANMUMBAI CUSTOM BROKERS ASSOCIATION

(Formerly known as BRIHANMUMBAI CUSTOM HOUSE AGENTS’ ASSOCIATION)
CIN-U63090MH1984NPL034904

INCOME & EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31ST MARCH, 2019

Particulars Note Amount as on Amount as on
March 31, 2019 March 31, 2018
`` ``

Income

Income from Main Account 11 9,201,570 - 8,708,980 -
-
Income from Activity Account 12 13,420,722 - 18,366,482

Total Income 22,622,292 27,075,462
Expenses:
Expenses - Main Account 13 5,998,491 7,735,798
Expenses - Activity Account 14 16,375,037 16,080,889
22,373,528
Total Expenses 23,816,687

Income before exceptional and extraordinary 248,764 3,258,775
items and tax -- --
Prior Period Items
248,764 3,258,775
Income before extraordinary items and tax
Extraordinary Items 56,174 101,714
Old Members Balances Written off

Income after extraordinary items and tax 192,590 3,157,061
Tax expense:
(1) Current tax -- --
(2) Deferred tax -- --
5WTRNWU
&GſEKV HQT VJG RGTKQF HTQO 192,590 3,157,061
continuing operations
5WTRNWU
&GſEKV HTQO FKUEQPVKPWKPI -- --
operations
Tax expense of discontinuing operations -- --
5WTRNWU
&GſEKV HTQO &KUEQPVKPWKPI -- --
operations (after tax)
5WTRNWU
&GſEKV HQT VJG RGTKQF 192,590 3,157,061
Earnings per equity share:
(1) Basic -- --
(2) Diluted -- --

Notes to accounts note “1” as per our report of even date

B. M. Mehta & Co.
Chartered Accountants

Karunakar Shetty Kiran Rambhia
President Sr.Vice-President
DIN NO.:-03643517 DIN NO.:-01237977

Mumbai (Ashit R. Mehta) Mumbai Paresh Thakkar Hiren Ruparel
Date:- 20.08.2019 Proprietor Date:- 20.08.2019 Hon. Secretary Hon. Treasurer
F.R.N.No.: 106188W DIN NO.:-06420628 DIN NO.:-02219868
M. No.: 033252

58 Brihanmumbai Custom Brokers Association

BRIHANMUMBAI CUSTOM BROKERS ASSOCIATION

(Formerly known as BRIHANMUMBAI CUSTOM HOUSE AGENTS' ASSOCIATION)
EQUITY AND LIABILITIES

2. Reserve and Surplus

Particulars Amount as at Amount as at
March 31, 2019 March 31, 2018

``

Reserve Fund

a. General Reserve Fund

Balance as per last Balance Sheet 17,593,976 16,303,976

(+) Entrance fees received during the year 1,460,000 1,290,000

Total 19,053,976 17,593,976

b. Income & Expenditure Account

Opening balance 48,163,613 45,006,552

(+) Surplus transferred from Income and Expenditure Account 192,590 3,157,061

48,356,203 48,163,613

Total 67,410,179 65,757,589

3. Other Long Term Liabilities Amount as at Amount as at
Particulars March 31, 2019 March 31, 2018

Deposit for use of Agents' Corner (Old) - ACC ` `
Deposit for use of Agents' Corner (New) - ACC 84,100 83,100
Deposit for use of Table Space at JNPT
Deposit for Locker at JNPT - Service Centre 237,500 228,000
Total 1,848,972 1,800,972

261,000 256,500

2,431,572 2,368,572

4. Other Current Liabilities Amount as at Amount as at
Particulars March 31, 2019 March 31, 2018

Legal & Prof. Fees ` `
(against contribution from members) - F.Y.2011-2012 6,463,280
Legal & Prof. Fees 6,463,280
(against contribution from members) - F.Y.2013-2014
G.S.T. Payable 870,292 1,006,236
Audit Fees - M/s. B.M.Mehta & Co.
Oustanding Expenses (Vendors Payments,Stationery, Printing, 27,000 259,820
General,Electricity, JNPT Rent & Others) 90,000 75,600
Salary (Ex-Gratia to Staff) 3,339,138
T.D.S.Payable 3,993,986
Advance received - CFS Pass & Accident Insurance (2019-2020)
Total 353,626 326,751
236,493 281,864
1,270,224
12,650,053 -
12,407,537

BRIHANMUMBAI CUSTOM BROKERS ASSOCIATION

(Formerly known as BRIHANMUMBAI CUSTOM HOUSE AGENTS' ASSOCIATION)

5. Tangible Assets

Block at WDV Depreciation Balance Balance
as on
Sr. Cost as on Additions Deduction Upto upto Dep. for Deduction Upto as on
01.04.2018 during the during the 31.03.2019 31.03.2018 the year during the 31.03.2019 31.03.2019 31.03.2018
No. (I) Tangible Assets
year year 15,980 year 785
157,899 60,391
ASSETS AT BCBA NARIMAN POINT OFFICE 356,447 302,450

1 #ESWC 9CVGT 2WTKſGT 15,980 - - 16,125 15,195 142 - 15,337 643 9,513
97,508 10,931
2 Airconditioning Unit 157,899 - - 64,203 53,997 54,743 - 108,439 49,460 34,855

3 Audio & Sound 356,447 - - 1,360,080 - 108,740 247,707 113,368
Systems 4,590 18

4 Biometric Attendence 16,125 - - 101,481 6,612 1,722 - 8,334 7,791 19,294
451,910 91,699
Register
73,622 6,962
5 CC TV Surveillance 64,203 - - 67,750 29,349 6,309 - 35,658 28,545 4,389
30,171 18,125
Sysytem 4,788,103 235,963
295,875 39,771
6 Computer 1,360,080 - - 1,246,712 71,603 - 1,318,315 41,765
47,250 4,572 3 - 4,575 15 3,261
7 Electric Apparatus 4,590 - - 91,491 - 85,679 12,411 Annual Report 2018-19
444,701 82,187 3,492 - 376,810 15,802 175,638
8 Electric Fixtures 101,481 - - 360,212 16,598 75,100
77,350 37,126
9 Electric Meter & DG 451,910 - - 192,135 15,336

SET-Dronagiri (FFFPCS)

10 EPABX 73,622 - - 66,661 1,260 - 67,921 5,701
63,361 794 - 64,155 3,595
11 Fax Machine 67,750 - - 12,046 - 16,739 13,432
4,552,140 4,693 - 4,613,231 174,872
12 File Cupboard 30,171 - 256,104 61,091 - 271,734 24,141
15,630
13 Furniture & Fixtures 4,788,103 - -

14 Hardware - IBM 295,875 - -
Server

15 IBM Lenovo Laptop 47,250 - - 43,989 2,060 - 46,049 1,201
79,080 2,246 - 81,326 10,165
16 LCD-Projector 91,491 - - 269,063 45473 - 314,536 130,165

17 .KDTCT[ 1HſEG 444,701 - -

Renovation

18 Nokia Mobile 77,350 - - 40,224 9612 - 49,836 27,514
176,799 747 - 177,546 14,589
19 1HſEG 2TGOKUGU 192,135 --
'C' Mittal Tower

59

20 1HſEG 2TGOKUGU 6,423,308 - - 6,423,308 3,073,585 - 3,236,717 3,349,723 60 Brihanmumbai Custom Brokers Association
'C' Mittal Tower 163,132 3,186,591
2,648,700 - 1,367,148
21 1HſEG 2TGOKUGU - 2,648,700 1,281,553 66,580 - 1,348,133
Dronagiri Node 4,890 - 1,300,567 1,731

22 Panasonic Codless 47,525 - - 4,890 3,159 448 - 3,607 1,283 24,968
Phone 478,526 - 76,224

23 Printer 165,465 - - 47,525 22,557 4,519 - 27,076 20,449 8,803
- 447,231 31,295
24 PUB-3rd Floor- 20,455 - - 478,526 427,497 19,734 1,568
Furniture & Fixture 29,250 - 11
67,912 -
25 Electric - - 165,465 131,467 1,593 - 133,060 32,405 21,161
Fixture 3,460 - 1,554
112,000 6,250
26 Refrigerator 27,119 - 20,455 18,887 284 - 19,171 1,284 15,614
- -
27 Scanner Machine - - - 29,250 29,239 7 - 29,246 4 -

28 Steel Storage Rack 69,534 33,369 - 67,912 46,751 5,479 - 52,230 15,682 24,307

29 Telephone Instrument 18,708,188 - 3,460 1,906 281 - 2,187 1,273 6,074,162

30 Touch Screen Kiosk - 112,000 96,386 2,826 - 99,212 12,788

31 Sony Digi Camera - 6,250 663 663 5,587

32 Water Cooler - Blue - 27,119 - 1,802 1,802 25,317
Star - Airport

33 Water Cooler - - 69,534 45,227 4,400 - 49,627 19,907
#KTRQTV 1HſEG

TOTAL (A) - 12,634,025 -
13,214,922 5,526,634
18,741,557 580,897

ASSETS AT CBD BELAPUR OFFICE

34 Air Conditioners 32,733 - - 32,733 3,263 5,334 - 8,597 24,136 29,470
15,721
35 CC TV 16,994 - - 16,994 1,273 2,846 - 4,119 12,875 31,327
20,155
36 Chairs 36,000 - - 36,000 4,673 8,111 - 12,784 23,216
4,063
37 Printer & Led Monitor 21,097 - - 21,097 942 3,648 - 4,590 16,507
8,248
38 Led Monitor - 5,500 - - 5,500 1,437 2,566 - 4,003 1,497
Samsung 108,984

39 Voltas Water 8,700 - - 8,700 453 1,493 - 1,946 6,754
Dispencer

TOTAL (B) 121,024 - - 121,024 12,040 23,997 - 36,038 84,987

BRIHANMUMBAI CUSTOM BROKERS ASSOCIATION

(Formerly known as BRIHANMUMBAI CUSTOM HOUSE AGENTS' ASSOCIATION)

5. Tangible Assets

Gross Block at Cost Depreciation Balance Balance
as on as on
Sr. Cost as on Additions Deduction Upto upto for the Deduction Upto
31.03.2018 year during the 31.03.2019 31.03.2019 31.03.2018
No. (I) Tangible Assets 01.04.2018 during during the 31.03.2019
year 51,102 62,395
the year year 4,364 5,328
6,636 8,102
ASSETS AT JAWAHAR CUSTOM-NHAVA SHEVA
22,206 27,114
40 Air Conditioner 112,000 - - 112,000 49,605 11,293 - 60,898
15,698 964 - 16,662 55 150
41 Cannon Image Class 21,026 - - 21,026 10,398 - 11,864 8,342 10,186
1,466 36,038 48,628
42 Cannon Image Class -N. 18,500 - - 18,500 - 9,426 121,272 163,638
Sheva 1,892
2,310
43 CCTV Surveillance Systems- 31,632 - - 31,632 4,518 4,908 137,852
168,318
Nhava Sheva 10,491
1,540 12,810
44 Computer 125,250 - - 125,250 125,100 95 - 125,195 1,224 1,880
55,126 1,844 - 56,970 4,525 1,495
45 Fax Machine 65,312 - - 65,312 12,590 - 333,227 5,525
320,637 42,366 - 505,130 1,040
46 Furniture & Fixtures 369,265 - - 369,265 462,764 - 4,908 40,961 1,270
418 72,999 50,013
47 Furniture & Fixtures-N.Sheva 626,402 - - 626,402 4,490 - 335,322 89,132 Annual Report 2018-19
522,540
48 Hot & Cold Water 6,800 - - 6,800 - 22,709 658,293
Dispenser-Nhava Sheva - 15,400
- 13,821
49 Installation-Power Back Up 473,174 - - 473,174 304,856 30,466 - 3,575

System - 28,959
- 478,889
50 Invertor - Nhava Sheva 33,200 - - 33,200 20,390 2,319 - 369,001
15,060 340
51 PCO & STD Instrument 16,940 - - 16,940 13,550 271

52 Stablizer 15,045 - - 15,045 2,575 1,000

53 Voltas DP - Water Coller- 8,100 - - 8,100 28,729 230
27$ 1HſEG 30,000 - - 30,000 469,837 9,052
352,868 16,133
54 Water Cooler

55 Xerox Machines 519,850 - - 519,850

56 Xerox Machines - Port User 442,000 - - 442,000

Building

TOTAL (C ) 2,914,496 - - 2,914,496 2,256,202 135,754 - 2,391,955

TOTAL OF TANGIBLE ASSETS 21,743,708 33,369 - 21,777,077 14,902,266 740,648 - 15,642,915 6,134,160 6,841,439
(A+B+C)

61

BRIHANMUMBAI CUSTOM BROKERS ASSOCIATION 62 Brihanmumbai Custom Brokers Association

(Formerly known as BRIHANMUMBAI CUSTOM HOUSE AGENTS' ASSOCIATION)

6. Intangible Assets Gross Block at Cost Depreciation Balance Balance
as on as on
Sr. Cost as on Additions Deduction Upto upto for the year Deduction Upto
No. (II) Intangible Assets 01.04.2018 during the during the 31.03.2019 31.03.2018 during the 31.03.2019 31.03.2019 31.03.2018

1 Software - Custom 100,000 year year 100,000 66,792 year 72,175 27,825 33,208
Smart Card
152,137 -- 152,137 5,383 - 89,554 62,583 74,690
2 Software - IBM
Server 200,000 -- 200,000 77,447 12,107 - 128,954 71,046 84,791
100,000 100,000 45,667 54,333 64,844
3 STC Programme -- 115,209 13,745 -
4 Mobile Application 552,137 -- 552,137 35,156 10,511 - 336,350 215,787 257,534

of BCHAA -- 294,603 41,747 -
TOTAL OF
INTANGIBLE
ASSETS

Block at WDV Depreciation

Sr. (IV) Intangible Assets Cost as on Additions Deduction Upto upto for the year Deduction Upto as on as on
No. under development 01.04.2018 during the during the 31.03.2019 31.03.2018 during the 31.03.2019 31.03.2019 31.03.2018
234,500 234,500
1 E-Learning 234,500 year year - year -
Programme (Work 234,500 234,500
in Progress) - - 234,500 - -

TOTAL OF 234,500 - - 234,500 --
INTANGIBLE
ASSETS UNDER
DEVELOPMENT

Annual Report 2018-19 63

BRIHANMUMBAI CUSTOM BROKERS ASSOCIATION

(Formerly known as BRIHANMUMBAI CUSTOM HOUSE AGENTS' ASSOCIATION)

7. Other Non- Current Assets

Particulars Amount as at Amount as at
March 31, 2019 March 31, 2018
A. DEPOSITS
&GRQUKV YKVJ ##+
.KE (GG 1NF 1HſEG
(KZGF &GRQUKV YKVJ %$+ ` `
&GRQUKV YKVJ ##+
.KE (GG 0GY 1HſEG
(KZGF &GRQUKV YKVJ
SBM) 506,328 452,767
Deposit with AAI - (Telephones) 716,280 684,597
&GRQUKV YKVJ ##+
'NGEVTKEKV[ 1NF 1HſEG
&GRQUKV YKVJ ##+
'NGEVTKEKV[ 0GY 1HſEG 1,500 1,500
&GRQUKV HQT 1HſEG /KVVCN 6QYGT 5,000 5,000
Deposit with B.E.S.T. 15,000 15,000
Deposit with FFPCS-Electricity 55,404 55,404
Deposit with JNPT 34,709 34,709
Deposit with Vichare - Courier Service 28,650 28,650
Deposit for Mineral Water bottles 203,436 203,436
Deposit with MTNL-Communication Centre 6,000 6,000
Deposit with Accident Insurance Company
TOTAL 300 300
116 116
10,000 10,000
1,582,723 1,497,479

64 Brihanmumbai Custom Brokers Association

BRIHANMUMBAI CUSTOM BROKERS ASSOCIATION

(Formerly known as BRIHANMUMBAI CUSTOM HOUSE AGENTS' ASSOCIATION)

8. CASH AND BANK EQUIVALENTS Amount as at Amount as at
March 31, 2019 March 31, 2018
Particulars
` `
A. Balances with banks
Central Bank of India, Nariman Point Branch 241,492 58,822
Central Bank of India, Ballard Estate Branch 144,089 427,186
State Bank of India, Nariman Point Branch 298,372 -340,630
HDFC Bank Ltd - Nhava Sheva Branch 333,289
79,645

Term Deposit having remaining maturity 3 month or less 621,409 1,354,909
State Bank of India, Nariman Point Branch - Auto Sweep F.D. 1,385,007 1,833,577

TOTAL A 4,262 2,652
B. Cash Balance 20,457 14,289
Cash In Hand 24,719 16,941
Cash in hand - Service Centre - Nhava Sheva
2,019,609 -
TOTAL B
C. Other Bank Balances 5,518,923 5,518,923
Term Deposit having remaining maturity 3 month or less 5,346,151 2,019,609
State Bank of India - Mittal Court Branch 11,072,119 15,199,457
Term deposit having remaining maturity of more than 12 8,928,927 8,756,487
months 13,265,549 13,100,000
State Bank of India - Nariman Point Branch
State Bank of India - Fort Branch 5,057,077 740,464
IDBI Bank 4,855,035 6,232,034
State Bank of India - Mittal Court Branch 4,100,000
Housing Development Finance Corporation Ltd. 500,000
"Termdeposithavingremainingmaturityofmorethan3months - 3,535,231
but not more than 12 months" 60,163,390 55,602,205
IDBI Bank 61,573,116 57,452,723
State Bank of India - Mittal Court Branch
Housing Development Finance Corporation Ltd.
State Bank of India - Fort Branch

TOTAL C
Total (A+B+C)

Annual Report 2018-19 65

BRIHANMUMBAI CUSTOM BROKERS ASSOCIATION

(Formerly known as BRIHANMUMBAI CUSTOM HOUSE AGENTS' ASSOCIATION)

9. SHORT TERMS LOANS AND ADVANCES TOTAL Amount as at Amount as at
Particulars March 31, 2019 March 31, 2018

Staff Advance ` `
584,500
10. OTHER CURRENT ASSETS 724,000
Particulars 584,500
724,000
A. ACCRUED INTEREST
State Bank of India - Nariman Point Branch Amount as at Amount as at
State Bank of India - Fort Branch March 31, 2019 March 31, 2018
Housing Development Finance Corporation Ltd.
I.D.B.I.Bank ` `
State Bank of India - Mittal Court Branch
Auto Sweep account - SBI 856,133 513,583
604,313 1,925,369
TOTAL A 156,518
970,914 848,348
2,052,660 1,128,452
1,555,179
11,686
4,652,224 6,384
5,977,314

B. OTHER RECEIVABLE 50,000 50,000
&GRQUKV HQT %$& $GNCRWT 1HſEG 307,557 -
Advance - Accident Insurance - National Insurance Company 349,625 -
Advance CFS Cards - Vanguard Studio
Prepaid Expenses 16,500 135,260
GST - Input Tax Credit 108,898 489,977
TDS Receivable 1,944,836 1,517,150
Other Receivable
Reimbursement of AGM Exp. - FFFAI - 22.09.2017 59,789 59,789
1,366,065 1,366,065
TOTAL B 4,203,270 3,618,241

C. RECEIVABLE FROM MEMEBRS 2,804,767 2,913,858
Membership Fees - Receivable 44,000 42,000
#FFN /GO (GGU 1HſEG 4GPQXCVKQP /KVVCN 6QYGT
Compensation-Table Space-JNPT-Receivable 136,045 153,143
Compensation-Table Space-Airport-Receivable 256,698 244,312
DG Supply Maintenance Charges
Compensation for Locker at JN Service Centre - 16,612
Dinner Contribution - Receivable 53,393 40,442
Sponsorship - AGM - 22.09.2017 - Taj Santacruz 16,621 20,101
500,000
TOTAL C - 3,930,468
TOTAL (A+B+C) 3,311,524 13,526,023
12,167,019

66 Brihanmumbai Custom Brokers Association

BRIHANMUMBAI CUSTOM BROKERS ASSOCIATION

(Formerly known as BRIHANMUMBAI CUSTOM HOUSE AGENTS' ASSOCIATION)

11. REVENUE FROM (MAIN ACCOUNT)

Particulars Amount as at Amount as at
March 31, 2019 March 31, 2018
By Annual Membership Fees
" CFS Directory ` `
" Miscellaneous Income 8,306,848 7,787,603

TOTAL A 2,500 -
1,362 1,235
" Interest on Fixed Deposit with I.D.B.I. Bank 8,310,710 7,788,838
" Interest on Fixed Deposit with State Bank of India-Fort Branch
" Interest on Fixed Depoist with Housing Development Finance 224,451 243,979
Corp'n Ltd. 111,393 117,871
" Interest on Fixed Deposit with State Bank of India-Nariman Point 249,762 230,263
Branch
" Interest on Fixed Deposit with State Bank of India -Mittal Court 76,123 83,274
Branch
" Interest on Fixed Deposit with H.D.F.C. Bank 224,166 235,283
" Interest on Income Tax Refund
- 9,473
TOTAL B 4,965 -
TOTAL (A+B) 890,859
9,201,570 920,142
8,708,980

Annual Report 2018-19 67

BRIHANMUMBAI CUSTOM BROKERS ASSOCIATION

(Formerly known as BRIHANMUMBAI CUSTOM HOUSE AGENTS' ASSOCIATION)

12. REVENUE FROM (ACTIVITY ACCOUNT)

Particulars Amount as at Amount as at
March 31, 2019 March 31, 2018
By Compensation received for the use of Agents Corner of AAI &
Telephone charges ` `
" Compensation received for the use of table space at J.N.P.T. 2,714,400 2,495,400
" Contribution-Training Course from Members (net of expenses)
" DG Supply Maintenance Charges 3,892,669 3,711,000
" Contribution-Members-CFS Pass-Nhava Sheva & Accident Insurance 166,072 599,114
Cover - 11,367
" AGM Dinner / Sponsorship
" Reimbursement of AGM Expenses - FFFAI - 22.09.2017 1,270,224 1,892,105
" Knowledge Series Seminar - Sponsorship
375,500 3,246,500
TOTAL A - 1,157,682
-
75,000
8,418,865 13,188,168

" Interest on Fixed Deposit with Airport Authority of India 102,492 100,166
" Interest on Auto Sweep account - SBI 113,060 123,189
" Interest on Fixed Deposit with I.D.B.I. Bank 897,806 975,915
" Interest on Fixed Deposit with State Bank of India-Fort Branch 445,570 471,483
" Interest on Fixed Depoist with Housing Development Finance Corp'n 999,047 921,053
Ltd.
" Interest on Fixed Deposit with State Bank of India-Nariman Point 304,492 333,094
Branch
" Interest on Fixed Deposit with State Bank of India - Mittal Court Branch 896,662 941,130
" Interest on Fixed Deposit with H.D.F.C. Bank - 37,893

TOTAL B 3,759,129 3,903,924

Income from use of facilities at Jawahar Custom - Nhava Sheva 2,036 3,600
By Allotment Charges for Locker 855,982 887,540
384,710 378,750
" Collection-Xerox/Fax/STD/PCO
" Compensation for Locker - 4,500
" Misc.Income 1,242,728 1,274,390

TOTAL C

TOTAL (A+B+C) 13,420,722 18,366,482

68 Brihanmumbai Custom Brokers Association

BRIHANMUMBAI CUSTOM BROKERS ASSOCIATION

(Formerly known as BRIHANMUMBAI CUSTOM HOUSE AGENTS' ASSOCIATION)

13. EXPENSES MAIN ACCOUNT Amount as at Amount as at
Particulars March 31, 2019 March 31, 2018

To Salaries ` `
" Maintenance Charges - Mittal Tower 1,149,645 996,979
" Annual Subscription (Chambers)
" Annual General Meeting Expenses 57,804 60,550
" Annual General Meeting Expenses -20.09.2017-Dadar Savarkar 114,500 89,500
2,567,641
Hall -
" Annual General Meeting Expenses -22.09.2017-Taj Santacruz - 519,155
" Extra Ordinary General Meeting Expenses
- 3,570,549
1HſEG 4GPQXCVKQP 'ZRGPUGU 0CTKOCP 2QKPV - 68,325
" BCBA Staff - Mediclaim Policy - 92,862
105,255 49,445
%$& $GNCRWT 1HſEG 4GPQXCVKQP 'ZRGPUGU -
%$& $GNCRWT 1HſEG 'ZRGPUGU 187,716 355,783
300,000 -
" Social Media Expenses 250,030
" Kerala - Chief Minister's Distress Relief Fund - 225,000
" Loss on sale of Air Conditioner 52,644 -
" Printing & Stationery Expenses 101,064
" General Expenses 7,915 14,278
" Xerox & Offset Charges 168,800 72,004
" Legal & Professional Fees 5,547 103,497
" Postage & Telegram Expenses 145,666 12,531
" Meeting & Conference Expenses 36,406 129,048
" Telephone Charges 20,000
" Audit Fees 32,166 8,426
" Electricity Charges 71,588 265,370
" Conveyance Expenses 18,456
" Internet Expenses 75,000 35,346
" I.S.O. Expenses 7,204 14,000
" Insurance Premium 381,224 47,740
" Training Course Expenses (Knowledge Series Seminar) - 97,680
" Interest on G.S.T. - 17,981
" Interest on Service Tax 10,937 62,560
" Interest on T.D.S. 129,328
" Depreciation 1,953 7,204
" Bank Charges 5,998,491 533,113

Total 20,140
48,720
56,239
159,280

2,493
7,735,798

Annual Report 2018-19 69

BRIHANMUMBAI CUSTOM BROKERS ASSOCIATION

(Formerly known as BRIHANMUMBAI CUSTOM HOUSE AGENTS' ASSOCIATION)

14. EXPENSES ACTIVITY ACCOUNT

Particulars Amount as at Amount as at
March 31, March 31,
To, Salaries 2019 2018
#KTRQTV 1HſEG 'ZRGPUGU ` `
, 0 2 6 1HſEG 'ZRGPUGU 4,598,582 3,987,917
2,860,446 1,797,271
" Maintenance Charges - Mittal Tower 3,294,749 3,140,670
" Printing & Stationery Expenses 231,217 242,200
" Legal & Professional Fees 210,576 288,016
" Repairs & Maintenance Expenses 675,200 516,192
" General Expenses 32,870 3,600
" Xerox & Offset Charges 404,257 413,989
" CFS Pass-Nhava Sheva & Accident Insurance 31,662 50,125
Expenses 1,095,393 1,878,455
" Courier Service Charges
" Telephone Charges 130,039 155,468
" Electricity Charges 145,625 141,383
" CFS Directory Exp. 128,664 190,960
" Computer Maintenance Expenses 187,252
" Maintenance charges - FFPCS -
" Electricity Charges - FFPCS 67,449 19,164
" Books & Perodical 96,000 149,110
" Website Expenses
" Audit Fees 5,350 3,030
" Depreciation - 6,830
" Bank Charges 168,538
175,710 56,000
TOTAL A 80,000 637,118
9,970
517,312 13,856,007
7,814

14,976,166

70 Brihanmumbai Custom Brokers Association

Expenses in relation to use of facilities at Jawahar 193,996 119,097
Custom-N.Shava 48,000 54,597
To, Salaries -
48,000 555,884
" Conveyance Expenses 96,488 48,000
1HſEG 4GPQXCVKQP %JCTGIGU
297,790 134,845
" Electricity Charges 389,409 303,970
" General Expenses 144,000 369,372
" Printing & Stationery Expenses 121,500
" Compensation for-Jawahar Customs-Nhava Sheva 42,929
" Security Charges 2,504 44,287
" Telephone Charges 2,504
" Insurance Premium 135,755
" Depreciation 1,398,871 165,246
1,919,302
TOTAL B -
- 12,500
Expenses in relation for 80th Year Anniversary Celebration - 293,080
" CFS Directory Exp. 305,580
" Honorarium to BCBA Staff 16,375,037
TOTAL C 16,080,889

TOTAL (A+B+C)

Annual Report 2018-19 71

016' ő Œ

Notes to Financial Statements for the year ended 31st March 2019.

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a. Basis of Preparation of Financial Statement
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Companies Act, 2013
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b. Recognition of Income & Expenditure

Income and Expenditure are generally accounted on accrual basis as they are earned or incurred except in
respect of Membership Fees. Association sends Proforma invoice to all of its members for Membership Fees.
Association accounts Membership fees only of the Members from whom the amount is received during the
year.

c. Fixed Assets

The Gross Block of Fixed assets are stated in the accounts at the purchase cost of acquisition of such assets
including any attributable cost of bringing the assets to its working condition for its intended use.

d. Depreciation

Depreciation is provided on written down value as prescribed in Schedule II to the Companies Act, 2013.

e. Taxes on Income

Provision for taxation has not been provided since the Association claims that the entire income is exempt
on the grounds of mutuality. Association relies upon the decision of Bombay Presidency Golf Club Ltd. v
ITO, ITAT Mumbai (69 Taxmann 208) and Breach Candy Swimming Bath trust v ITO(E), ITAT Mumbai, ITA
no 3825/M/2013. Further the Association is registered under section 12(A)(a) of the Income Tax Act, 1961 &
is assessed under section 11 of Act. Deferred tax assets / liabilities have not been recognized considering the
principle at prudence.

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Association has started returning back to members. Balance amount is adjusted against member as on 31-

3-2019 was Rs.8,70,292/-. An amount of Rs.5,40,293/- is adjusted from 01-04-2019 to 31-07-2019

against the particular members Membership Fees. An amount of Rs.3,29,999/- is pending to be returned or

adjusted against particular members membership fees or shall be written back.

g. An amount of Rs.13,66,065/- shown as receivable from Federation of Freight Forwarders Association in India
being reimbursement of AGM expenses held on 22-09-2017 is under negotiation with Federation of Freight
Forwarders Association in India and is shown as receivable.

h. Provisions, Contingent Liabilities and Contingent Assets

Provisions are recognized only when there is a present obligation as a result of past events and it is probable
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to accounts. Contingent Assets are neither recognized nor disclosed.

72 Brihanmumbai Custom Brokers Association

i. During the year, Association has written off an amount of Rs.56,714/-

pertaining to membership fee and table space.

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of the current year.

B.M.MEHTA & CO. KARUNAKAR SHEKAR SHETTY
CHARTERED ACCOUNTANTS PRESIDENT
DIN NO.:- 03643517

(ASHIT R.MEHTA) KIRAN RAMBHIA
PROPRIETOR Sr. VICE - PRESIDENT
F.R.N. No.: 106188W DIN NO.:- 01237977
M. No.: 033252
PARESH THAKKAR
MUMBAI HON. SECRETARY
Date :- 20th August, 2019 DIN NO.:- 06420628

HIREN RUPAREL
HON.TREASURER
DIN NO.:- 02219868

MUMBAI
Date :- 19th August, 2019

Annual Report 2018-19 73

74 BrihRaenwmiunmdbinaigCtuhsetomyeBarrok2e0rs18As-1so9ciation

Rewinding theAnyneuaalrR2ep0o1rt82-01198-19 75

76 BrihRaenwmiunmdbinaigCtuhsetomyeBarrok2e0rs18As-1so9ciation

Rewinding theAnyneuaalrR2ep0o1rt82-01198-19 77

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Celebrating the A8n2nuayleRaeprosrto20f1g8-l1o9ry 79

80 Brihanmumbai Custom Brokers Association

Renovated Air Cargo Common User Room

Secretariat Staff



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Brihanmumbai Custom Brokers Association

73/74, Mittal Tower, ‘C’ Wing, 7th Floor, Nariman Point, Mumbai - 400 021
Tel.: + 91 22 4311 9100 / 4311 9101 Fax: +91 22 2285 2561
E-mail: [email protected] website: www.bcbaind.com

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