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Notes to Accounts of PTC India Financial Services Ltd.

Mar 31, 2014

1. Corporate information

PTC India Financial Services Limited ("PFS") is a registered NBFC with Reserve Bank of India and has been awarded the Infrastructure Finance Company (IFC) status by RBI. PFS is set up with an objective to provide total financing solutions to the energy value chain which includes investing in equity or extending debt to power projects in generation, transmission, distribution, fuel resources and fuel related infrastructure.

2. Contingent liabilities and commitments in respect of: (Rs in lacs)

Particulars As at As at March 31, 2014 March 31, 2013 Contingent liabilities

- Income tax 2,605.81 997.02 Commitments

- Estimated amount of contracts remaining to be executed on capital account (net of advances) and not 86.30 655.86 provided for

- Loan financing 34,931.02 19,006.66

- Equity subscription - 5,244.17

3. The Company''s main business is to provide finance for energy value chain through investment and lending into such projects. All other activities revolve around the main business. The Company does not have any geographic segments. As such, there are no separate reportable segments as per Accounting Standard-17 on "Segment Reporting" notified under the Companies (Accounting Standards) Rules, 2006.

4. Related party disclosures

(a) List of related parties and relationships

Related parties where control exists or with whom transactions have taken place during the year are given below:

Holding company : PTC India Limited

Associate companies : PTC Bermaco Green Energy Systems Limited (ceased to be an associate w.e.f.March 31,2014)

: RS. India Wind Energy Private Limited (formerly known as R.S. India Wind Energy Limited) : Varam Bio Energy Private Limited : Ind-Barath Energy (Utkal) Limited (ceased to be anassociate w.e.f. May 25, 2012)

Key management personnel : Shri Rajender Mohan Malla (w.e.f. September 27, 2013)

: Dr. Ashok Haldia : Dr. Pawan Singh

(b) Details of related party transactions in the ordinary course of the business: (i) Transactions with holding company


Mar 31, 2013

1. Corporate information

PTC India Financial Services Limited ("PFS") is a registered NBFC with Reserve Bank of india and has been awarded the infrastructure Finance Company (IFC) status by RBI. PFS is set up with an objective to provide total financing solutions to the energy value chain which includes investing in equity or extending debt to power projects in generation, transmission, distribution, fuel resources and fuel related infrastructure.

2. The Company''s main business is to provide finance for energy value chain through investment and lending into such projects. All other activities revolve around the main business. The Company does not have any geographic segments. As such, there are no separate reportable segments as per Accounting Standard 17 on "Segment Reporting" notified under the Companies (Accounting Standards) Rules, 2006.

3. Related party disclosures

(a) List of related parties and relationships

Related parties where control exists or with whom transactions have taken place during the year are given below:

Holding company : PTC India Limited

Associate companies : PTC Bermaco Green Energy Systems Limited

: R.S. India Wind Energy Private Limited (formally known as R.S. India Wind Energy Limited)

: Varam Bio Energy Private Limited : Ind-Barath Energy (Utkal) Limited (ceased to be an associate w.e.f. May 25, 2012)

: Ind-Barath PowerGencom Limited (ceased to be an associate w.e.f. September 28, 2011)

: Indian Energy Exchange Limited (ceased to be an associate w.e.f. March 29, 2012)

Key management personnel : Dr. Ashok Haldia

: Dr. Pawan Singh (w.e.f. February 1, 2012)

(b) Details of related party transactions in the ordinary course of the business:

(i) Transactions with holding company

4. Total number of electricity units generated and sold during the year 13,380,365 KWH (previous year 13,561,177 KWH).

5. Expenditure incurred in foreign currency (accrual basis)

6. Previous year''s figures have been recast/ regrouped, wherever necessary to conform to the current year''s presentation.


Mar 31, 2012

1 The term loans from banks are secured by first pari-passu charge by way of hypothecation of the current assets including book debts, investments and other receivables (other than assets created by line of credit of other financial institutions/banks). Additionally, the loans are backed by an agreement of assignment of the project assets financed from proceeds of the loans, in favour of respective lenders. Terms of repayment are as below:

2. Contingent liabilities and commitments in respect of:

(Rs.in lacs) As at March 31, As at March 31, 2012 2011

Contingent liabilities

Income tax 31.13 13.97

Commitments

Loan financing 7,453.71 13,378.00

3. The Company's main business is to provide finance for energy value chain through investment and lending into such projects. All other activities revolve around the main business. The Company does not have any geographic segments. As such, there are no separate reportable segments as per Accounting Standard 17 on 'Segment Reporting' notified under the Companies (Accounting Standards) Rules, 2006.

4. Based on the information available with the Company, no supplier has been identified, who is registered under the Micro, Small and Medium Enterprise Development Act, 2006. Further, the Company has not received any claim of interest from any supplier under the said Act.

5. Total number of electricity units generated and sold during the year: 13,561,177 KWH (previous year: 11,720,432 KWH).

6. Pursuant to the notification dated December 29, 2011 issued by the Ministry of Corporate Affairs amending the Accounting Standard 11, the Company has exercised the option as per Para 46A inserted in the Standard for all long term monetary assets and liabilities. Consequently an amount of Rs. 868.99 lacs (without considering tax benefit of Rs. 281.94 lacs) is carried forward in the Foreign currency translation account as on March 31, 2012.

Had the Company followed the earlier method of accounting for the above items, the net profit for the year ended March 31, 2012 would have been lower by Rs. 587.05 lacs (net of taxes).

7. The Revised Schedule VI has become effective from April 1, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.


Mar 31, 2008

1. The company has commenced its operations with effect from 7th May 2007.

2. Shares issue expense amounting to Rs. 9.21 million has been adjusted against the Share Premium Account as per Section 78 of the Companies Act 1956.

3. Estimated amount of capital commitments: NIL

4. Claims against the company not acknowledged as debts: NIL

5. Expenditure in foreign currency (on accrual basis): NIL

6. Income earned in foreign exchange: NIL

7. This is the first period of operations of the company hence the corresponding figures in respect of Profit & Loss Account is not applicable.

8. Schedules A to I and accounting policies form an integral part of accounts.

 
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