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Notes to Accounts of Tourism Finance Corporation of India Ltd.

Mar 31, 2016

1. Previous year figures have been regrouped / rearranged wherever considered necessary to make them comparable with the current year''s figures.

2. There are no Micro and Small Enterprises, to whom the Company owes dues, which are outstanding for r 45 days as at March 206. This information as required to be disclosed under the Micro, Small and M Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company._

3. Disclosure required in Accordance with AS-19 - Leases A. Assets taken on operating lease:

4. The Company has taken Office Premises on non-cancellable operating lease. Minimum lease payments of ''^^^IB/- (P.Y. ''4,07,29,728/-) are charged to Statement of Profit & Loss during the year.

5. Future commitments in respect of minimum lease rentals payable in respect of aforesaid lease entered by the Company are as follows:

6. The additional information required to be disclosed vide RBI norms - as certified by the management

7. Rating Assigned By Credit Rating Agencies for the Bonds/Borrowings of TFCI

-Credit Analysis & Research Ltd (CARE)CARE A (reaffirmed vide letter dated 18.08.2015) -Brickworks Ratings (India) Pvt. Ltd. BWR AA (reaffirmed Vide letter dated 16.10.2015) -Smear Ratings Ltd. SMERA AA (reaffirmed Vide letter dated 05.08.2015)

-No Migration of Ratings took place during the year

8. No Penalty is levied by any regulator during the year.


Mar 31, 2015

1. Terms / rights attached to equity shares

The company has only one class of equity shares having a par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share

2. Contingent liabilities not provided for where order of CIT(Appeals)/ITAT, in similar matters, in previous years, are in favour of the TFCI Income Tax 10,31,69,782 11,93,52,077

3. The Company is engaged mainly in the business of financing. Since all activities are related to the main activity, there are no reportable segments as per Accounting Standard Segment Reporting (AS-17)

4. Related Party Disclosure

As per Accounting Standard - 18, the Company's related parties and transactions are disclosed below :

5. Previous year figures have been regrouped / rearranged wherever considered necessary to make them comparable with the current year's figures

6. There are no Micro and Small Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2015. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

7. Disclosure required in Accordance with AS-19 - Leases A. Assets taken on operating lease:

a. The Company has taken Office Premises on non-cancellable operating lease. Minimum lease payments of Rs.4,07,29,728/- (P.Y. Rs.3,84,69,409/-) are charged to Statement of Profit & Loss during the year.

8. The additional information required to be disclosed vide RBI norms - as certified by the management

a. Rating Assigned By Credit Rating Agencies for the Bonds/Borrowings of TFCI

* Credit Analysis & Research Ltd (CARE) : CARE A (reaffirmed vide letter dated 31.10.2014)

* Brickworks Ratings (India) Pvt. Ltd. : BWR AA (reaffirmed Vide letter dated 25.11.2014)

* No Migration of Ratings took place during the year

b. No Penalty is levied by any regulator during the year.


Mar 31, 2014

1. The ALM Statement has been prepared as per RBI Guidelines.

2. The Company is engaged mainly in the business of financing. Since all activities are related to the main activity, there are no reportable segments as per Accounting Standard Segment Reporting (AS-17)

3. The two accounts out of three restructured in F.Y. 2012-13 (agreegate outstanding Rs.91,17,50,000) have been regularised, However as per RBI guidelines, the provision against the principal outstanding of Rs.83,42,50,000 as on 31.03.2014 have been provided @ 3.50% instead of 2.75% in previous year. The accounts would be upgraded after 2 years from the date of restructuring and provision would be reversed.

4. As per RBI Circular No. DBOD No.BP.BE 77/21.04.018/2013-14 dated 20th Dec 2013, TFCI has recognised Deferred Tax Liability (DTL) on special reserve created under Sec 36(1)(viii) of the Income Tax Act by debiting the P&L a/c for the current financial year. However, for the amount allowed by the assessing officer in the respective previous years, deferred tax liability has been created by debiting the General Reserve.

5. Contingent liabilities not provided for where order of CIT(Appeals)/ITAT, in similar matters, in previous years, are in favour of the TFCI


Mar 31, 2013

1 The Company is engaged mainly in the business of fnancing. Since all activities are related to the main activity, there are no reportable segments as per Accounting Standard Segment Reporting (AS-17)

2 During the year, 3 cases have been restructured under the Corporate Debt restructuring mechanism involving principal amount of Rs.91,17,50,000. The restructuring involves basically deferrement of recovery of principal dues, in view of the prevailing diffcult market conditions and in all the cases, the present NPV has been protected. In one case, pending documentation, the approved scheme is yet to be implemented and status quo as on 1st October 2012 has been maintained. The accounts have been treated as ''''Standard Assets''''

3 Previous year fgures have been regrouped / rearranged wherever considered necessary to make them comparable with the current year''s fgures

4 There are no Micro and Small Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2013. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identifed on the basis of information available with the Company.

5 Disclosure required in Accordance with AS-15 - Employees Benefts

a) Defned Contribution Plans:

The Company has recognised Rs.33,20,123/- (P.Y. Rs.32,50,449/-) as expense in Statement of Proft & Loss.

b) Defned Beneft Plans:

Gratuity – As per actuarial valuations as on March 31, 2013 and recognized in the fnancial statements

5.1 Break up of Leased Assets and stock on hire and other assets counting towards AFC activities : NIL

5.2 Exposure to Real Estate Sector : Rs. 35.00 crores (Previous Year : NIL)


Mar 31, 2012

1 CONTINGENT LIABILITIES NOT PROVIDED FOR IN RESPECT OF:

Income Tax 7,61,35,497 5,03,08,913

2 The Company is engaged mainly in the business of financing. Since all activities are related to the main activity, there are no reportable segments as per Accounting Standard on Segment Reporting (AS-17) 30 Previous year figures have been regrouped / rearranged wherever considered necessary to make them comparable with the current year's figures

There are no Micro and Small Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2012. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

3.1 Break up of Leased Assets and stock on hire and other assets counting towards AFC activities : NIL


Mar 31, 2011

1. Contingent liabilities not provided for in respect of:

(Rs. in lacs) As at As at 31.3.2011 31.3.2010

Income Tax 509.30 71.13

2. Segment Reporting:

The Company is engaged mainly in the business of fnancing. Since all activities are related to the main activity, there are no reportable segments as per Accounting Standard on Segment Reporting (AS-17).

3. Related Party Disclosure

As per Accounting Standard – 18, the Company's related parties and transactions are disclosed below:

A. List of related parties & relationships, where control exists:

1. Related Parties Relation

IFCI Ltd. (Investing Company) - Associate

North-East Tourism Dev. - Associate Corporation Pvt. Ltd.

Shell Inn International Limited - Associate (w.e.f 15.03.2011)

2. Key Managerial Personnel Relation

Mrs. Archana Capoor - Chairman & Managing Director

B. Transactions with related parties & key managerial personnel:

1. Related Parties :-

(a) IFCI Ltd. Dividend Paid -Rs. 328.04 lacs (P.Y Rs. 254.22 lacs) Dividend Received - Rs.0.20 lacs (P.Y Rs.0.20 lacs) Rent & Other Charges Paid - Rs.0.89 lacs (P.Y Rs.0.89 lacs)

(b) Shell Inn Interest on Loans - Rs.18.17 lacs International Limited Outstanding Rupee Loan - Rs. 3000.00 lacs

2. Key Managerial Mrs. Archana Capoor : - Remuneration Personnel :- Paid - Rs. 47.71 lacs (P.Y Rs. 32.97 lacs) Staff Loan Outstanding - Rs.12.29 lacs (P.Y Rs. 16.04 lacs)

4. Capital Commitments: NIL (Previous Year Rs. 31.95 Lacs)

5. Interest on deposits in income from operations includes proft on sale of units of Debt based Mutual Funds of Rs.391.61 lacs (P. Y. Rs.342.38 lacs)

6. Previous year fgures have been regrouped / rearranged wherever considered necessary to make them comparable with the current year's fgures.

7. There are no Micro and Small Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2011. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

8. Unclaimed dividend from 2004 onwards amounting to Rs.74,58,371 (P.Y. Rs.66,48,616) is deposited with Scheduled Banks. No amount is due/outstanding to be paid/credited to Investor Education & Protection Fund as on 31st March 2011

9. The additional information required to be disclosed vide RBI norms - as certified by the management.

9.1. Break up of Leased Assets and stock on hire and other assets counting towards AFC activities : NIL

9.2 Exposure to Real Estate Sector : NIL


Mar 31, 2010

1. Contingent liabilities not provided for in respect of:

(Rs. in lacs) As at 31.3.2010 As at 31.3.2009

Sales Tax NIL 9.33

Income Tax matters pending in appeals against which no provision has been made amounts to Rs.71.13 lakhs (previous year-Rs.57 lakhs) in view of favourable decisions of I.T.A.T.

2. Segment Reporting:

The Company is engaged mainly in the business of financing tourism-related projects. Since all activities are related to the main activity, there are no reportable segments as per Accounting Standard on Segment Reporting (AS-17).

3. Related Party Disclosure

As per Accounting Standard – 18, the Companys related parties and transactions are disclosed below:

A. List of related parties & relationships, where control exists:

1. Related Parties Relation

IFCI Ltd. (Investing Company) - Associate

North-East Tourism Dev. Co. Pvt. Ltd. - Associate

2. Key Managerial Personnel Relation

Mrs. Archana Capoor - Chairman & Managing Director

B. Transactions with related parties & key managerial personnel:

1. Related Parties :- IFCI Ltd.:- Dividend Paid - Rs.254.22 lacs (P.Y Rs.226.39 lacs)

Dividend Received - Rs.0.20 lacs (P.Y Rs.0.20 lacs)

Rent & Other Charges Paid – Rs.0.89 lacs (P.Y Rs.65.65 lacs)

2. Key Managerial Personnel :- Mrs. Archana Capoor: - Remuneration Paid - Rs.32.97 lacs (P.Y Rs.25.07 lacs) Staff Loan Outstanding - Rs. 16.04 lacs (P.Y Rs.15.09 lacs)

4. Capital Commitments:

Company has Incurred Capital expenditure of Rs. 84.98 lacs during F.Y. 2009-10 for upgradation of its office at Scope Minar, Laxmi Nagar, Delhi, which includes lift replacement, power back up etc. An amount of Rs. 31.95 lacs is estimated to be incurred during next year on the same.

5. Interest on deposits in income from operations includes profit on sale of units of Debt based Mutual Funds of Rs.342.38 lacs (P. Y. Rs.463.40 lacs)

6. Previous year figures have been regrouped / rearranged wherever considered necessary to make them comparable with the current years figures.

7. There are no Micro and Small Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2010. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

8. Exposure to Real Estate Sector : NIL

Schedules A to N form an integral part of accounts and have been duly authenticated.

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