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Notes to Accounts of Waterbase Ltd.

Mar 31, 2016

1 Shares issued in preceding 5 years

(a) The Company had issued and allotted 128,67,750 equity shares of Rs.10 each aggregating to Rs.1286.78 Lakhs in the ratio of 1:2 during the Financial Year 2013-14.

(b) The Company had issued and allotted 10,00,000 equity shares of '' 10 each aggregating to Rs.100 Lakhs on preferential basis to M/s. Towerbase Services Private Limited during the Financial Year 2011-12.

(a) Karam Chand Thapar & Bros (Coal Sales) Limited acquired 19,10,500 shares during 28th to 31st March 2016 for which the share registration is pending as on 31st March 2016.

2 Rs.999.35 Lakhs (Previous Year : Rs.1093.16 Lakhs) are secured by hypothecation of present and future stock of raw materials, work-in-progress, finished goods, stores and spares including consumables on fixed assets ranking pari-pasu with term loan lenders.

3 Rs.Nil (Previous Year: Rs.91 Lakhs) Loan repayable on demand from related parties is secured by first charge on all immovable assets of the company both present and future, ranking pari-pasu with charge created in favour of banks.

Note:

4 Amount outstanding for more than 30 days payable to small and ancillary undertakings is NIL

Note:

5 Details of Security and terms of repayment in respect of Current Maturity of long term debt are detailed in Note 4(a) of the Financial Statements.

* This represents deposits with original maturity of less than or equal to 3 months

# This represents deposits with original maturity of more than 3 months

* Other Sundry Items includes items of less than 10% of the total and therefore not considered for individual classification

The Company''s primary segment is identified as business segment based on nature of product, risk and the internal business reporting system and secondary segment is identified based on geographical location of the customer as per Accounting Standard 17. The Company principally engaged in two business segments viz,. Shrimp Feed Manufacturing and Processed Shrimp Exports.

6- PREVIOUS YEAR FIGURES

Previous year figures have been regrouped and reclassified where necessary to confirm to current year''s classification.


Mar 31, 2015

1 - CONTINGENT LIABILITIES AND COMMITMENTS

Year ended Year ended 31st Mar 2015 31st Mar 2014 Rs. Lakhs Rs. Lakhs

(1) Contingent Liabilities

(i) Claims against the company not acknowledged as debts (net)

(a) Custom duty 535.36 535.36

(b) Excise duty 49.48 -

(c) Service tax 63.86 63.86

(d) Sales tax 33.89 -

(e) To a Bank 670.94 670.94

(e) Others 77.19 75.87

1,430.71 1,346.03

(ii) Bank Guarantee

(a) To various parties 372.02 299.15

(iii) Interest claimed by Canara Bank, (pending in D. R. T.) has not been provided as the settlement is under negotiation and hence not quantify able at this stage.

(2) Commitments

(a) Capital commitments (net of advances) not provided for in respect 21.65 - of tangible assets

(b) Export obligation under EPCG Scheme to be fulfilled. The Company - -

238.78 176.73 is confident of meeting its obligation under the Schemes with in the Stipulated Period

3 - PREVIOUS YEAR FIGURES

Previous year figures have been regrouped and reclassified where necessary to confirm to current year's classification.


Mar 31, 2014

1 Rights, Preferences and Restrictions attached to shares. The Company has issued only one class of shares viz., Equity shares having a value of Rs. 10/- each. Each holder of equity shares is entitled to one vote per share. In the event of Liquidation, the equity Shareholders are eligible to receive the remain- ing assets of the Company after distribution of all pre- ferential amounts, in proportion to their shareholding .

2 CONTINGENT LIABILITIES AND COMMITMENTS

(to the extent not provided for)

2.1 Contingent liabilities

(i) Claims against Company not acknowledged as debt 67,509,073 61,123,555

(ii) Bank Guarantees 29,914,587 26,111,942

(iii) Interest Claimed by Canara Bank has not been provided as the settlement is under negotiation and hence not quantifiable at this stage 67,093,551 10,663,008

3 EMPLOYEE BENEFITS

In case of defined contribution plans, the Company''s contribution are charged since the Company has no further obligation beyond making the contribution. In case of defined benefits plans, the actuarial gain and losses arising on actuarial valuation based on projected unit credit method are charged to statement of Profit & Loss. Consequent upon adopting accounting standard on Employee benefits the following disclosures are made for the defined benefit obligation :

4. On the basis of available information the suppliers are not registered under Micro, small and Medium Enterprise Development Act,2006.

5. Figures for the previous year have been re-classified to make them comparable with that of the current year, to the extent possible. Figure in brackets relate to that of the previous year, in general.


Mar 31, 2013

1 : CONTINGENT LIABILITES AND COMMITMENTS

(to the extent not provided for )

1.1 Contingent liabilities

(i) Claims against Company not acknowledged as debt 61,123,555

(ii) Bank Guarantees 26,111,942 22,215,412

(iii) Interest on dues to Canara Bank has not been 10,663,008 55,963,886

provided as the settlement is under negotiation and hence not quantifiable at this stage

1.2 Commitments

Estimated amount of contracts remaining to be 18,407,034 executed on capital account and not provided for

2 : EMPLOYEES BENEFITS

In case of defined contribution plans, the Company''s contribution are charged since the Company has no further obligation beyond making the contribution. In case of defined benefits plans, the acturial gain and losses arising on actuarial valuation based on projected unit credit method are charged to statement of Profit & Loss. Consequent upon adopting accounting standard on Employee benefits the following disclosures are made for the defined benefits obligation:

3 : SEGMENT REPORTING

Accounting standard in respect of segment reporting is not applicable to the Company as the operations of the Company is in the nature of an integrated system of function.

4 : On the basis of available information the suppliers

are not registered under Micro, small and Medium Enterprise Development Act, 2006

5 : Figures for the previous year have been reclassified to make them comparable with that of the current year, to the extent possible. Figure in brackets relate to that of the previous year, in general.


Mar 31, 2012

1.1 The Company has issued only one class of shares viz., Equity Shares having a Par Value of Rs. 10. Each holder of equity shares is entitled to one vote per share. In the event of liquidation the equity share holders are eligible to receive the remaining assets of the company in Protion to their share holding.

1.2 The details of shareholders holding more than 5 % shares as at 31.03.2012 and 31.03.2011 are given below:

3 : CONTINGENT LIABILITES AND COMMITMENTS (to the extent not provided for )

3.1 Contingent liabilities

Claims against Company not acknowledged as debt

(i) Bank Guarantees 22,215,412 52,689,512

(ii) Overdue Interest claimed by Canara Bank has not been provided as the settlement is under negotiation and hence not quantifiable at this stage. 55,963,886 35,131,622

3.2 Commitments

Estimated amount of contracts remaining to be 18,407,034 - executed on capital account and not provided for

4 : EMPLOYEES BENEFITS

In case of defined contribution plans, the company's contribution are charged since the Company has no further obligation beyond making the contribution. In case of defined benefits plans, the acturial gain and losses arising on actuarial valuation based on projected unit credit method are charged to statement of Profit & Loss. Consequent upon adopting accounting standard on Employee benefits the following disclosures are made for the defined benefits obligation:

5 : On the basis of available information the suppliers

are not registered under Micro, small and Medium Enterprise Development Act, 2006

6 : Consequent to the notification of revised schedule

VI under the Companies Act 1956, the financial statements for the year ended 31st March 2012 are prepared as per the revised schedule VI. Accordingly the previous year figures have also been reclassified to make them comparable with that of the current year to the extent possible.


Mar 31, 2011

1. CONTINGENT LIABILITIES Rs. Millions

2010-11 2009-10

a) Guarantees given by 52.69 52.69 Bank on behalf of the Company and Outstanding

b) Interest on dues to Canara Bank has not been provided as the settlement is under negotation and hence not quantifiable.

2. (a) Accounting standard in respect of Segment reporting is not applicable to the Company as the operations of the Company is in the nature of an integrated system of function.

3. Related Party Disclosure :

( a ) Key Management Personnel :

(i) The Key management person is Mr. Ashok Nanjapa, Chief Executive. Remuneration paid to him including perquisites is 2.34 mn. (PY 2.24 mn.)

(ii ) Transaction with relatives of key management personal - Nil.

(b) Associates

(i ) Gourmet Delhicatessens Ltd.

Investments in the equity share of above Company - Rs. 2.50 mn. Goods sold Rs. 1.75 mn. (PY Rs. 2.05 mn) and the outstanding balance as on 31.3.2011 in Rs. 0.34 mn.

(ii) India City Properties Limited

Have advanced secure term loan of Rs. 20.5 mn. (PY Rs. 20.5 mn.)

(iii) Towerbase Service Private Ltd.

Have advanced unsecured loan of Rs. 42.50 mn. (PY Rs. 42.50 mn.) interest paid Rs. 5.10 mn. (PY Rs. 5.10 mn.) 7.

4. The Company has not received any memorandum ( as required to be filed by the suppliers with the notified authority under the Micro, Small & Enterprises Development Act, 2006) claiming their status as on 31st March, 2011 as micro small or medium enterprises. Consequently the amount paid/payable to these parties during the year is nil.

5.Provident Fund : The Company has no further obligation beyond making the contribution.

6. Net Deferred Tax Asset represents timing difference in depreciation of Rs. 4.99 Mn and provision for Employees benefit of Rs. 0.53 Mn.

7. Employee Benefits: In case of defined contribution plans, the companies contribution are charged to Profit and Loss Account since the Copmpany has no further obligation beyond making the contribution.

In case of defined benefit plans the acturial gain and losses arising on valuation based on projected unit credit method are charged to Profit and loss account.

8. Particulars in respect of goods manufactured and installed capacities.

The provisions of Industries (Development and Regulation) Act, 1951 relating to licenced capacities are not applicable to the Company. The installed capacity is 1712 tonnes of processed prawns (from integrated Farm including hatchery, Feed Mill and Processing Unit), on Single shift basis, as approved by the Government of India.

9. Figures for the previous year have been regrouped wherever necessary. Previous years figures are indicated in brackets.


Mar 31, 2010

1. EXPORT INCENTIVES

Export Sale includes DEPB benefits on to the extent of Rs. 3.53 million (Previous year Rs. 4.01 million).



2. CONTINGENT LIABILITIES Rs.Millions

2009-10 2008-09

Guarantees give by Bank on behalf of the Company 52.69 52.69



3. Interest on dues to Canara Bank has not been provided as the settlement is under negotiation.

4. (a) Accounting standard in respect of Segment reporting is not applicable to the Company as the operations of the Company is in the nature of an integrated system of function.

(b) Information about Secondary Segments : Geographical

5. (a) With regard to related party transactions, the key management personnel is Mr. Ashok Nanjapa: Chief Executive. Remuneration paid to him is Rs.224 million.

(b) Transaction with relatives of key management personnel-Nil.

6.The Company has not received any memorandum (asrequired to be filed by the suppliers with the notified authority under the Micro, Small & Enterprises Development Act, 2006) claiming their status as on 31st March, 2010 as micro, small or medium enterprises. Consequently the amount paid /payable to these parties during the year is nil.

7. Provident Fund The company has no further obhgation beyond making the contnbution.

8. Employee Benefits: In case of defined contribution plans, the companys contribution is charged to Profit and Loss Account and the Company has no further obligation beyond making the contribution.

In case of defined benefit plans the actuarial gain and losses arising on actuarial valuation based on projected unit credit method are charged to Profit and Loss account.

Consequent upon adopting accounting standard on Employee benefits the following disclosures are made:

9. Particulars in respect of goods manufactured and installed capacities.

The provisions of Industries (Development and Regulation) Act, 1951 relating to licenced capacities are not applicable to the Company. The installed capacity is 1712 tonnes of processed prawns (from integrated Farm including hatchery, Feed Mill and Processing Unit), on Single shift basis, as approved by the Government of India.

10.Figures for the previous year have been regrouped wherever necessary. Previous years figures in the notes are indicated in brackets.