JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LIMITED
BALANCE SHEET AS AT 31-03-2002
           
AS AT AS AT
  31-03-2002   31-03-2001
  SCHEDULE Rs. Rs. Rs. Rs.
SOURCE OF FUNDS                                                                                                                                                                                                                                                    
SHARE HOLDERS  FUNDS
( a ) CAPITAL A 100,000,000 100,000,000
( b ) RESERVES AND SURPLUS B 292,288,888 185,999,043
( c ) DEFERRED TAX LIABILITY     
            UPTO PREVIOUS YEAR 360,000 0
            FOR THE YEAR 57,000 417,000 0                     -  
TOTAL 392,705,888      285,999,043
APPLICATION OF FUNDS
1. FIXED ASSETS  
( a ) GROSS BLOCK C 19,392,341         16,575,264   
( b ) LESS : DEPRECIATION 12,456,926         10,020,533   
       
  NET BLOCK 6,935,415             6,554,731
    
2. INVESTMENTS D 302,076,775      322,345,317
3. CURRENT ASSETS, LOANS AND
ADVANCES E
(a) ACCRUED INTEREST 1,730,515        2,257,070
(b) SUNDRY DEBTORS 37,635,493       23,298,336
(c) CASH BALANCE 589,756        7,055,355
(d) LOANS AND ADVANCES 57,294,960         59,067,231   
97,250,724       91,677,992
JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LIMITED
           
AS AT AS AT
31-03-2002 31-03-2001
  SCHEDULE Rs. Rs. Rs. Rs.
LESS : CURRENT LIABILITIES AND
             PROVISIONS F 30,894,481     115,967,506
66,356,243 (24,289,514)
 
TOTAL 375,368,432      304,610,534
    
SCHEDULES A TO F ANNEXED HERETO FORM AN  
INTEGRAL PART OF THE BALANCE SHEET
AS PER OUR REPORT OF EVEN DATE ATTACHED.
FOR AND ON BEHALF OF FOR AND ON BEHALF OF BOARD OF DIRECTORS
DEVDHAR JOGLEKAR & SRINIVASAN JEEVAN BIMA SAHAYOG
CHARTERED ACCOUNTANTS ASSET MANAGEMENT CO. LTD
VIVEK JOGLEKAR    A RAMAMURTHY M R MURALI  C R THAKORE
(PARTNER) (CHAIRMAN) (CHIEF EXECUTIVE)  (DIRECTOR)
MUMBAI K S RAMESH P PONPANDIAN
DATED :17/05/2002  ASST GEN MANAGER (ACCOUNTS) COMPANY SECRETARY
     
MUMBAI
DATED :17/05/02
JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LIMITED
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED  31/03/2002
           
AS AT AS AT
  31-03-2002 31-03-2001
  SCHEDULE   Rs.     Rs.
INCOME
MANAGEMENT FEES 139,976,000 108,848,000
INTEREST AND DIVIDEND G      32,155,961        14,683,773
OTHER INTEREST        3,071,412                     -  
PROFIT ON REDM - NTPC BONDS          140,000                     -  
PROFIT ON SALE OF GOVT SECURITIES        6,076,481                     -  
PROFIT ON CHANGE OF OPTION 17,817,265 1,989,900
PROFIT ON REDM -IRFC BONDS 380,000
PROFIT ON REDM - DV(8) 18,160,000
MISCELLANEOUS INCOME H 3,536,247 5,633,901
    
TOTAL 220,933,366      131,535,575
  
EXPENDITURE  
SALARY AND BENEFITS TO EMPLOYEES I 135,643             381,900
ADMINISTRATIVE EXPENSES J 51,474,984        32,743,849
MISCELLANEOUS EXPENSES K 1,067,719             540,248
PRELIMINARY EXPENSES 0 263,163
DEPRECIATION 2,436,393 2,085,256
DHANAVARSHA (10) DEFICIT        3,036,609                     -  
DHANAVARSHA (8) DEFICIT        4,124,657                     -  
DHANAVARSHA (11) DEFICIT 950,515
DHANAVARSHA (6) DEFICIT 10,340,558
DHANAVARSHA (9) DEFICIT                   -   9,718,000
LOSS ON SALE OF FIXED ASSETS                   -   11,936
PROFIT  BEFORE TAX 157,706,845 75,450,666
    
TOTAL 220,933,366 131,535,575
    
JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LIMITED
           
AS AT AS AT
31-03-2002 31-03-2001
      Rs.   Rs.
PROFIT BEFORE TAX BROUGHT FORWARD 157,706,845        75,450,666
PROVISION FOR  TAX . 26,000,000 14,600,000
DEFERRED TAX LIABILITY FOR THE YEAR 57,000
 PROFIT AFTER  TAX   131,649,845           60,850,666
     
      
APPROPRIATIONS
BALANCE B/F FROM  PROFIT & LOSS A/C 131,649,845           60,850,666
PROFIT BROUGHT FORWARD FROM PREVIOUS YEAR 65,999,043 52,538,161
    
PROFIT AVAILABLE  FOR DISTRIBUTION 197,648,888      113,388,827
      
LESS:PROPOSED DIVIDEND   25,000,000    10,000,000
LESS: PROVISION FOR DIVIDEND  TAX 0 1,020,000
    
BALANCE PROFIT   172,648,888      102,368,827
            AFTER  DIVIDEND    AND TAX
TRANSFER TO / FROM GENERAL RESERVE 50,000,000 10,000,000
 TRANSFERRED  TO RESERVES & SURPLUS 122,648,888        92,368,827
      
TOTAL 172,648,888      102,368,827
SCHEDULES G TO K ANNEXED HERETO FORM AN
INTEGRAL PART OF THE  PROFIT & LOSS ACCOUNT
NOTES TO ACCOUNTS
AS PER OUR REPORT OF EVEN DATE ATTACHED.
FOR AND ON BEHALF OF           FOR AND ON BEHALF OF BOARD OF DIRECTORS OF
DEVDHAR JOGLEKAR & SRINIVASAN JEEVAN BIMA SAHAYOG
CHARTERED ACCOUNTANTS ASSET MANAGEMENT CO. LTD
VIVEK JOGLEKAR  A RAMAMURTHY M R MURALI C R THAKORE
PARTNER  CHAIRMAN  CHIEF EXECUTIVE DIRECTOR
MUMBAI K S RAMESH  P PONPANDIAN
DATED : 17/05/2002  ASST GEN MANAGER (ACCOUNTS)  COMPANY SECRETARY
JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LIMITED
SCHEDULES FORMING PART OF BALANCE SHEET AS AT 31.03.2002
           
AS AT  AS AT
31-03-2002 31-03-2001
  SCHEDULE Rs. Rs.  Rs.  Rs.
SCHEDULE A: SHARE CAPITAL
AUTHORISED & ISSUED
25,000 EQUITY SHARES OF Rs.10,000/- EACH    250,000,000      250,000,000
SUBSCRIBED & PAID UP
10,000 EQUITY SHARES OF Rs 10,000 EACH    100,000,000      100,000,000
FULLY PAID UP
 
 
  TOTAL 100,000,000      100,000,000
SCHEDULE B : RESERVES AND SURPLUS
GENERAL RESERVE
OPENING BALANCE 120,000,000 110,000,000
TRANSFERRED FROM PROFIT & LOSS A/C 50,000,000 10,000,000
LESS : DEFERRED TAX LIABILITY UPTO 31/03/01 360,000 0
169,640,000      120,000,000
PROFIT & LOSS ACCOUNT
 BROUGHT FORWARD FROM P&L A/C 122,648,888 122,648,888 92,368,827        92,368,827
    
TOTAL 292,288,888      212,368,827
    
JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LIMITED
           
AS AT AS AT
31-03-2002 31-03-2001
      Rs.   Rs.
SCHEDULE D : INVESTMENTS Quantity    Quantity   
LONG TERM/ NONTRADED     
A. PREFERENCE SHARES
8.42% TISCO Ltd of Rs 100/- each (Previous year's - 9.25%) 0 100,000 10,000,000
9.10%EIH LTD shares of the face value of Rs.100/- each 150,000 15,000,000 150,000 15,000,000
12% Sun Pharma Ltd of the face value of Rs.66.67 each 0 100,000 6,666,667
B. BONDS
10.50% IRFC Ltd TAX FREE of the face value of Rs.1,000 each 20,000 18,453,750 20,000 18,453,750
14% SAIL BONDS of the face value of Rs.5,00,000 60 30,000,000 60 30,000,000
9% NTPC Ltd 2002 of the face value of Rs.1,000 each 0 0 20,000 19,860,000
10.50% KRCL of the face value of Rs.1,000/- each 15,000 15,375,000 15,000 15,375,000
C. UNITS OF MUTUAL FUND
LICMF LIQUID FUND units of the face value of Rs.10 each 100,000 10,000,000 933,180 16,200,000
DHANAVARSHA ( 8 ) of the face value of Rs.10/- each 0 2,000,000 20,000,000
LICMF Bond Fund units --face value of Rs.10 each 19,869,785 213,248,025 9,097,725 100,000,000
LIC MF GOVT. SEC. FUND units -- face value of Rs.10 each 0 5,624,691 60,789,900
D. FIXED DEPOSITS WITH BANK 0 10,000,000
TOTAL 302,076,775      322,345,317
    
JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LIMITED
           
AS AT  AS AT
31-03-2002 31-03-2001
  Rs. Rs. Rs.  Rs.  Rs.
SCHEDULE E : CURRENT ASSETS , LOANS
                         AND ADVANCES
( a ) CURRENT ASSETS
ACCRUED INTEREST 1,730,515 2,257,070
SUNDRY DEBTORS-LESS THAN SIX MONTHS
MANAGEMENT FEES RECEIVABLE   36,359,497    23,298,336
DUE FROM LIC MF   1,275,996   
37,635,493   
CASH AND BANK BALANCES     
    
CASH ON HAND 6,150 9,952
BALANCES IN BANK     583,606.21 7,045,403
  589,756    7,055,355
( b ) LOANS AND ADVANCES
( UNSECURED CONSIDERED GOOD )
ADVANCES RECOVERABLE IN CASH OR IN 0   0   
KIND OR FOR VALUE TO BE RECEIVED     
    
ADVANCE TAX AND TDS        
         
ADVANCE  TAX     & TDS                    184417469     
LESS: PROVISION FOR TAXATION     127122509 57,294,960 57,294,960       56,939,763        59,067,231
    
JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LIMITED
           
AS AT AS AT
  31-03-2002   31-03-2001
    Rs. Rs.  Rs.  Rs.
SCHEDULE F : CURRENT LIABILITIES AND
                          PROVISIONS
( a ) CURRENT LIABILITIES
       SUNDRY CREDITORS 0 0
       OTHER LIABILITIES :-
           
DUE TO DHANAVARSHA (3) (SCHEME LOSS) 0 30,635,711
DUE TO DHANASHREE 89 (SCHEME LOSS) 0 22,852,372   
DUE TO DHANAVARSHA (10)                      -     
DHANAVARSHA (1) R.O DEFICIT                    -  
DHANAVARSHA (12)                    -                       -  
DHANAVARSHA (6)   0 10,340,558        63,828,640
BANK OVERDRAFT (as per books) 5,244,481        41,118,866
5,244,481      104,947,506
    
( b ) PROVISIONS
PROPOSED DIVIDEND 25,000,000 10,000,000
TAX ON DIVIDEND 0 1,020,000
PROVISION FOR LEAVE ENCASHMENT ENTITLEMENT 650,000
TOTAL 30,894,481  TOTAL      115,967,506
    
JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LIMITED
           
AS AT AS AT
  31-03-2002   31-03-2001
    Rs. Rs.  Rs.  Rs.
SCHEDULE G : INTEREST AND DIVIDEND
TAXABLE
INTEREST ON DEPOSIT WITH BANK (TDS Rs.NIL, 194,830 413,397
INTEREST ON S.A.I.L BONDS(TDS RS 9,03,287 ,P.Y 4,20,000) 4,434,049 4,188,493
TAXFREE
INTEREST ON BONDS ( 9% Tax Free IRFC ) 0 346,685             346,685
INTEREST ON 9% NTPC TAX FREE BONDS 1,740,822 1,795,069
INTEREST ON 10.5% IRFC TAX FREE BONDS 2,100,000 2,094,247
DIVIDEND  ON  PREFERENCE SHARES SUN PHARMA 294,366 845,023
DIVIDEND  ON  ICICI PREFERENCE SHARES 0 466,274
INT ON KRCL BONDS 1,594,634 1,551,051
DIVIDEND TISCO  PREF SHARES 148,000 856,000
DIVIDEND EIH  PREF SHARES 1,365,000 1,377,535
DIVIDEND ON LIC MF GILT FUND 0 750,000
DIVIDEND ON LIC MF BOND FUND 20,284,260
TOTAL 32,155,961        14,683,773
    
  
SCHEDULE I : SALARIES AND BENEFITS TO EMPLOYEES
SALARIES AND ALLOWANCES                   -                       -  
CONTRIBUTION TO PROVIDENT FUND & OTHERS                     -                          -  
STAFF WELFARE                   -                       -  
TRAINING EXPENSES   135,643 381,900
    
TOTAL 135,643 381,900
JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LIMITED
           
AS AT AS AT
  31-03-2002   31-03-2001
    Rs. Rs.  Rs.  Rs.
SCHEDULE J : ADMINISTRATIVE EXPENSES
CONVEYANCE   187,727 119,589
TRAVELLING 1,174,232 647,589
RENT, RATES AND TAXES   4,438,555 2,171,299
LEASE  ACCOMMODATION RENT 161,971 128,369
ELECTRICITY CHARGES   2,060,935 1,884,006
REPAIRS AND MAINTENANCE   341,785 375,903
PRINTING AND STATIONERY 0 0
POSTAGE AND TELEGRAM & COURIERS 2,239,282 385,531
TELEPHONE CHARGES   1,938,427 1,399,114
BOOKS AND PERIODICALS 0 0
PUBLICITY   25,646,345 23,844,891
COMMISSION TO AGENTS   1,368,776 1,750
SCHEME MISCELLANEOUS EXPENSES   9,199,979 63,753
LEGAL AND PROFESSIONAL FEES 0 0
AUDITORS REMUNERATION                     -  
AUDIT FEES   63,000 63,000                     -  
TAX  AUDIT   15,750 15,750                     -  
    78,750                78,750
COMPUTER CHARGES   0    0
BOARD EXPENSES     268,434   147,423
OFFICE UPKEEP     0    0
ENTERTAINMENT EXPENSES   118,277   90,452
SEMINAR EXPENSES   782,304 281,311
RECRUITMENT EXPENSES   1,864 11,783
INTERNAL AUDIT FEES     65,614   72,425
INCENTIVE TO UNIT HOLDER     0   130
 STAMP DUTY 0 0
INTERNET /E-MAIL EXP 117,711 68,056
INSURANCE PREMIUM- DIRECTORS LIABILITY 0 366,581
RENTAL CHARGES PTI SCAN 1,122,990 605,143
FILING FEES TO SEBI 50,025 0
AMFI - MEMBERSHIP FEES 111,000 0
TOTAL 51,474,984        32,743,849
         
JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LIMITED
           
AS AT AS AT
  31-03-2002   31-03-2001
    Rs. Rs.  Rs.  Rs.
   
SCHEDULE K : MISCELLANEOUS EXPENSES     
BANK CHARGES   41,506 21,216
MISCELLANEOUS EXPENSES   293,600 82,596
INTEREST ON DELAYED PAYMENT 0 101,707
SHIFTING EXPENSES   7,500 10,830
SUNDRY OFFICE EQUIPMENTS   1,428 6,631
DUE TO SCHEMES ON EXCESS PAY 708,149 241,121
BINDING CHARGES   15,535 76,146
TOTAL 1,067,719             540,248
    
SCHEDULE H : MISCELLANEOUS INCOME
OTHER RECEIPTS 3,536,247 5,633,901
TOTAL 3,536,247          5,633,901
For Auditor's Report For The Period Ended 31/03/2002  of
JEEVAN BIMA SAHAYOG ASSET MANAGEMENT COMPANY LIMITED.
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