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Notes to Accounts of CHL Ltd.

Mar 31, 2015

A) Equity shares allotted as fully paid Bonus shares for the period of five years immediately preceding 31s March 2015

NIL

B) Rights, preferences and restrictions attached to the Equity Shares

The company has one class of Equity Shares having a par value of Rs. 2/- each (Previous year par value of Rs. 2/- each). Each shareholder is eligible for one vote per share held.

* include a) Rs. 34.16 lacs repayable by 2015 and b) Rs. 1150.40 lacs repayable in 84 monthly installment spread over seven years starting from September 2014. Both loans carry interest at 12.25% pa and are secured by pari passu charge over entire fixed assets and exclusive charge on current assets.

** Foreign Currency Loan (ECB) of US$ 5 Million is repayable in 10 equal half yearsly installments starting from August 2015 and carry interest at LIOBR 3.25% pa. The loan is secured by first pari passu charge over fixed assets.

*** These are secured by Hypothecation of vehicles taken under lease. The loans are repayable in equated monthly installments within five years period from the date of respective loan.

2. Contingent liabilities not provided for in respect of

2014-2015 2013-2014 (Rs. in Lacs) (Rs. in Lacs)

i) Demands / Claims not acknowledged as debt or which are under litigation NIL NIL

ii) Bank Guarantees furnished NIL Rs. 25.00

iii) Disputed demands for taxes duties and other levies pending adjudication in appeal Rs. 306.03 Rs. 260.39

iv) Corporate Guarantee* US$325.00 US$265.00

* Corporate Guarantee has been given to Export Import Bank of India against loan of same value taken by the subsidiary of the company in addition to second charge on its fixed assets.

3. Other advances are for business purposes and do-not carry interest .

4. The Fixed Deposits are pledged with:

i) Statutory Authorities - Rs.0.90 lacs (Rs. 0.90 lacs);

ii) Banks against bank guarantee - NIL (Rs. 25.00 lacs); and

iii) Against overdraft facilities - Rs. 1856.84 lacs (Rs. 1756.84 lacs).

5. No depreciation has been provided on building, plant and machinery in NSEZ Noida as the same has not been put to use

6. Pursuant to the enactment of the Companies Act 2013 (The Act) the depreciation on tangible fixed assets has been provided on straight line method in accordance with the provisions of Schedule II of the Act except on carrying cost of assets as on 01-04-2014 as the technical assessment and review of useful life/residual value of the assets could not be completed. The consequential impact of non provision of depreciation as per Schedule II in respect of carrying cost of assets could not be determined.

7. Lease rent on NSEZ Noida land and Jaipur Land has neither been paid nor provided in the financial statements in the absence of any claim from the concerned authority.

8. Estimated amount of contracts remaining to be executed on capital account, net of advances:

In respect of the Company Rs. 50.00 Lacs (previous year Rs. 400.00 lacs)

9. Debts due to or by the company, are generally unconfirmed by the parties and/or under reconciliation. In the opinion of the management the impact of adjustment on reconciliation is not likely to be significant.

10. In the opinion of the management, the assets of the company have a value on realization, in the normal course of business, at least equal to the amounts stated in the balance sheet.

11. MICRO AND SMALL ENTERPRISES

The company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act 2006 and hence disclosure relating to the amounts unpaid at the year end with interest paid / payable under this Act has not been given.

12. EMPLOYEES BENEFITS Defined Contribution Plans

Company's contributions in respect of provident fund, family pension fund, employees state insurance and gratuity are included in "contributions to provident, gratuity and other funds in Schedule 11 hereof.

Defined Benefit Plans

In accordance with Accounting Standard 15, Company's liability for compensated absences (on account of leave encashment benefit) on actuarial valuation was performed based on following assumption.

13. AS-17 on Segment Reporting is not applicable as the company is engaged only in hotel business and at one location.

14. Contribution to Political party: NIL (Previous Year NIL)

D. Remittance in Foreign Currency on account of Dividend to non resident shareholders Nil (Previous years Nil)

15. Amount transferred to Investor Education and Protection Fund as required under section 205 C of the Companies Act 1956- Rs.1.70 lacs (Previous Year Rs. 3.73 lacs)

16. Previous year's figures have been regrouped and rearranged wherever necessary to make it comparable with the Current Years figures. All figures have been rounded off to nearest lac rupee.


Mar 31, 2014

1A. Other advances are for business purposes and do-not carry interest .

2. The Fixed Deposits are pledged with:

i) Statutory Authorities - Rs.0.90 lacs (Rs. 2.85 lacs);

ii) Banks against bank guarantee –Rs. 25.00 lacs (Rs.67.00 lacs); and

iii) Banks against overdraft facilities–Rs.1756.84 lacs (Rs. 2176.84 lacs)

3. No depreciation has been provided on building, plant and machinery in NSEZ Noida as the same has not been put to use.

4. No lease rent on following has neither been paid nor provided in the financial statements in the absence of any claim from the concerned authority:

a. NSEZ Noida Land- b. Jaipur Land

5. Estimated amount of contracts remaining to be executed on capital account, net of advances. In respect of the Company Rs. 400.00 Lacs (previous year Rs. 22.96 lacs)

In respect of subsidiary Rs. 3000 lacs (previous yrar Rs. 3500/- lacs)

6. Debts due to or by the company, in some cases, are unconfirmed and/or under reconciliation. In the opinion of the management the impact of adjustment on reconciliation is not likely to be significant.

7. In the opinion of the management, the assets of the company have a value on realization, in the normal course of business, at least equal to the amounts stated in the balance sheet.

8. MICRO AND SMALL ENTERPRISES

The company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act 2006 and hence disclosure relating to the amounts unpaid at the year end with interest paid / payable under this Act has not been given.

9. EMPLOYEES BENEFITS

Defined Contribution Plans

Company''s contributions in respect of provident fund, family pension fund, employees state insurance and gratuity are included in "contributions to provident, gratuity and other funds in Schedule 11 hereof.

Defined Benefit Plans

In accordance with Accounting Standard 15, Company''s liability for compensated absences (on account of leaveencashment benefit) on actuarial valuation was performed based on following assumption.

10. AS-17 on Segment Reporting is not applicable as the company is engaged only in hotel business and at one location.

11. Contribution to Political party: NIL (Previous Year NIL)

12. Related party transactions

Subsidiary Company CHL International

Associate Companies CHL (South) Hotels Limited

Key Management Personnel Dr. L.K.Malhotra Managing Director

Mr. Luv Malhotra Joint Managing Director

Mr. Gagan Malhotra Executive Director

Entities controlled by Directors or their relatives

Kyjol Projects Pvt Ltd.

Mela Hotels Limited

Sankalp Portfolio Investments Pvt Ltd.

United Exports

Ultima Leasing & Financing

13. Details of Consumption & Purchase

The company is not required to give quantitative and value wise information in respect of, consumption; turnover, stock etc. as the same is exempted vide circular No. SO301(E) dated 08-02-2011 issued by Ministry of Corporate Affairs, Government of India.

14. Amount transferred to investor education and protection fund as required under section 205 C of the Companies Act as Rs. 3.73 lacs (Previous Year Rs. 1.51 lacs)

15. Previous year''s figures have been regrouped and rearranged wherever necessary to make it comparable with the Current Years figures. All figures have been rounded off to nearest lac rupee.

16. Balance Sheet abstract and Company''s General Business profile


Mar 31, 2013

1. Contingent liabilities not provided for in respect of

2012-2013 2011-2012 (Rs. in lacs) (Rs.in lacs)

i) Demands / Claims not acknowledged as debt or which are under litigation(i) Rs. 10.00 Rs. 10.00

ii) Bank Guarantees furnished Rs. 67.00 Rs. 22.00

iii) Disputed demands for taxes duties and other levies pending adjudication in appeal Rs. 143.86 Rs. 299.65

iv) Corporate Guarantee(ii) US$ 180.00 US$ 180.00

i Rs. 6.08 lacs deposited in Delhi High Court as security.

ii Corporate Guarantee has been given to Export/Import Bank of India against loan of same value taken by the subsidiary of the company in addition to second charge on its fixed assets.

2. Other advances are for business purposes and do not carry interest

3. The Fixed Deposits are pledged with:

i) Statutory Authorities - Rs.2.85 lacs (Rs. 3.15 lacs);

ii) Banks against bank guarantee - Rs. 67.00 lacs (Rs. 22 lacs); and

iii) Banks against overdraft facilities - Rs. 2176.84 lacs ( Rs.2096.84 lacs).

4. No depreciation has been provided on building, plant and machinery in NSEZ Noida as the same has not been put to use.

5. No lease rent on following has neither been paid nor provided in the financial statements in the absence of any claim from the concerned authority:

a. NSEZ Noida Land

b. Jaipur Land

6. Estimated amount of contracts remaining to be executed on capital account, net of advances: In respect of the Company Rs. 22.96 Lacs (previous year Rs. 3.74 lacs)

7. Debts due to or by the company, in some cases, are unconfirmed and/or under reconciliation. In the opinion of the management the impact of adjustment on reconciliation is not likely to be significant.

8. In the opinion of the management, the assets of the company have a value on realization, in the normal course of business, at least equal to the amounts stated in the balance sheet.

9. MICRO AND SMALL ENTERPRISES

The company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act 2006 and hence disclosure relating to the amounts unpaid at the year end with interest paid / payable under this Act has not been given.

10. EMPLOYEES BENEFITS

Defined Contribution Plans

Company''s contributions in respect of provident fund, family pension fund, employees state insurance and gratuity are included in "contributions to provident, gratuity and other funds in Schedule 11 hereof.

Defined Benefit Plans

In accordance with Accounting Standard 15, Company''s liability for compensated absences (on account of leave encashment benefit) on actuarial valuation was performed based on following assumption.

11. AS-17 on Segment Reporting is not applicable as the company is engaged only in hotel business and at one location.

12. Contribution to Political party: NIL (Previous Year Rs. 0.11 lacs)

13. Details of Consumption & Purchase

The company is not required to give quantitative and value wise information in respect of, consumption; turnover, stock etc. as the same is exempted vide circular No. SO301(E) dated 08-02-2011 issued by Ministry of Corporate Affairs, Government of India.

14. Amount transferred to investor education and protection fund as required under section 205 C of the Companies Act as Rs. 1.51 lacs (Previous Year Rs. 1.56 lacs)

15. Previous year''s figures have been regrouped and rearranged wherever necessary to make it comparable with the Current Years figures. All figures have been rounded off to nearest lac rupee.


Mar 31, 2012

A) Rights, preferences and restrictions attached to the Equity Shares

The company has one class of Equity Shares having a par value of Rs. 10 each. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of shareholders in the ensuing Annual General Meeting.

- Term Loan from The Hongkong & Shanghai Banking Corporation Ltd is repayable in equal instalment within 5 years from the date of respective loan i.e.by 2012-13 and it carries interest of 10.50% pa and the term loan is secured by pari passu charge over entire present & future Fixed Assets of the company.

- Term Loan from Andhra Bank is repayable in equal installment within 5 year period from the date of respective loan i.e. by 2015- 16 and carry interest of 12.25% p.a. Term Loan from Andhra Bank is secured by paripassu charge over entire fixed assets and exclusive charge on current assets.

- The Finance Lease obligations are secured by hypothecation of vehicles taken under Lease. The loan is payable in equated monthly instalments within 5 years period from the date of respective loan.

1. Contingent liabilities not provided for in respect of

2011-2012 2010-2011 (Rs. in lacs) (Rs.in lacs)

i) Demands / Claims not acknowledged as debt or which are under litigation 10.00* 10.00*

ii) Bank Guarantees furnished 22.00 22.00

iii) Disputed demands for taxes duties and other levies pending adjudication in appeal 299.65 438.95

* includes claim against which Security deposit for Rs. 6.08 lacs given to High Court.

2. MICRO AND SMALL ENTERPRISES

The company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act 2006 and hence disclosure relating to the amounts unpaid at the year end with interest paid / payable under this Act has not been given.

3. No depreciation has been provided on building, plant and machinery in NSEZ Noida as the same has not been put to use.

4. Lease rental not provide in the financial statements in respect of:

a. NSEZ Noida land-Amount not determined

b. Jaipur (Rajasthan) land-Rs. 47.21 Lacs ( previous year Rs. 23.61 lacs)

5. Estimated amount of contracts remaining to be executed on capital account, net of advances:

In respect of the Company Rs. NIL (previous year Rs. 63.40 Lacs)

6. The amount represents the expenditure incurred till the year end on repair of assets damaged due to fire. The value of the claim lodged with the insurance company for the loss suffered in fire is Rs.53.40 Lacs, which amount has not been approved till the balance sheet date.

7. Debts due to or by the company, in some cases are unconfirmed and/or under reconciliation. In the opinion of the management the impact of adjustment on reconciliation is not likely to be significant.

8. In the opinion of the management, the assets of the company have a value on realization, in the normal course of business, at least equal to the amounts stated in the balance sheet.

9. The Fixed Deposit consists of pledged with:

i) Statutory Authorities - Rs.3.15 lacs;

ii) Banks against bank guarantee - Rs. 22.00 lacs; and

iii) Banks against overdraft facilities - Rs. 2096.84 lacs.

10. The Company has given corporate guarantee and created second charge on its fixed assets in favour of Export Import Bank of India against Term Loan of USD 180.00 Lacs granted by the bank to its subsidiary.

11. EMPLOYEES BENEFITS

Defined Contribution Plans

Company's contributions in respect of provident fund, family pension fund, employees state insurance and gratuity are included in "contributions to provident, gratuity and other funds in Schedule 11 hereof.

Defined Benefit Plans

In accordance with Accounting Standard 15, Company's liability for compensated absences (on account of leave encashment benefit) on actuarial valuation was performed based on following assumption.

12. AS-17 on Segment Reporting is not applicable as the company is engaged only in hotel business and at one location.

13. Contribution to Political party: Rs. 0.11 lacs (Previous Year Rs. 0.21 lacs)

14. Details of Consumption & Purchase

The company is not required to give quantitative and value wise information in respect of, consumption; turnover, stock etc. as the same is exempted vide circular No. SO301(E) dated 08-02-2011 issued by Ministry of Corporate Affairs, Government of India.

15. Amount transferred to investor education and protection fund as required under section 205 C of the Companies Act as Rs. 1.56 lacs (Previous Year Nil)

16. A. Out of "Income Tax Refundable", Rs. 172.82 Lacs has been adjusted against the disputed demands of taxes for earlier years, which demands are in appeals.

B. As against the current tax of Rs. 289.55 Lacs, taxes paid/deducted at source till the year end amounted to Rs. 490.01 Lacs, resulting in refundable of Rs. 200.42 lacs.

17. Previous year's figures have been regrouped and rearranged wherever necessary to make it comparable with the Current Years figures. All figures have been rounded off to nearest lac rupee.


Mar 31, 2010

1. Contingent liabilities not provided for in respect of

2009-2010 2008-2009

(Rs. in lacs) (Rs. in lacs)

i) Demands / Claims not acknowledged as debt or which are under litigation 8.00* 8.00*

ii) Bank Guarantees furnished NIL 31.58

iii) Disputed demands for taxes duties and other levies pending adjudication 568.34 316.81

in appeal

* includes claim against which Security Deposit for Rs. 6.08 lacs given to High Court.

2. MICRO AND SMALL ENTERPRISES

The company has not received information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act 2006 and hence disclosure relating to the amounts unpaid at the year end with interest paid / payable under this Act has not been given.

3. Depreciation on intangible asset viz computer software has been provided at straight line method. No depreciation has been provided on building, plant and machinery in NSEZ, Noida as the same has not been under use.

4. Estimated amount of contracts remaining to be executed on capital account, net of advances, is Rs. 30.35 Lacs (previous year 294.94 Lacs).

5 Debts due to or by the company, in some cases are unconfirmed and/or under reconciliation. In the opinion of the management the impact of adjustment on reconciliation is not likely to be significant.

6. In the opinion of the management, the assets of the company have a value on realization, in the normal course of business, at least equal to the amounts stated in the balance sheet.

7. The Fixed Deposit consist of Rs. 2.78 lacs pledged with State Government Authorities, Rs. 13.75 Lacs with Suppliers, Rs. 0.10 Lacs with Consumer Court and Rs. 1856.84 Lacs with bank against overdraft facility.

8. EMPLOYEES BENEFITS

Defined Contribution Plans

Companys contributions in respect of provident fund, family pension fund, employees state insurance and gratuity are included in "contributions to provident, gratuity and other funds in Schedule 11 hereof.

9. Related party transactions

- Subsidiary Company

- Associate Companies

- Key Management Personnel

- Entities controlled by Directors or their relatives

CHL International

CHL (South) Hotels Limited CHL Biotech Pvt. Ltd.

Dr. L.K.Malhotra Managing Director

Mr. Luv Malhotra Executive Director

Kyjol Entertainment Media Pvt Ltd.

Mela Hotels Limited

Malbros Capital Services Pvt Ltd.

On Track Technocrat Developer Pvt Ltd.

United Overseas

10. A. The company has been exempted vide order No. 46/222/2008/CL-III dated 05/02/2009 of Ministry of Company Affairs, Government of India u/s 211(4) of the Companies Act, 1956 from the disclosure of quantitative details of turnover, stocks, purchases, production and consumption of raw material for the financial years ended 31st March 2009, 31st March 2010 and 31st March 2011.

11. Amount transferred to investor education and protection fund as required under section 205 C of the Companies Act as Rs. NIL (Previous Year Nil)

12. Previous years figures have been regrouped and rearranged wherever necessary to make it comparable with the Current Years figures. All figures have been rounded off to nearest rupee.

 
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