Annual Report - Brandhouse Retails

BRANDHOUSE
R E T A I L S
8 TH ANNUAL REPORT 2011-12
NOTE : 8A NON-CONVERTiBLE dEBENTURE
15% Non-Convertible Debentures (NCDs) issued to India Debt Management Private Limited are secured in favour of the
Debenture Trustees, IDBI Trusteeship Services Ltd. by way of the following;
a. Primary Security
i) An English Mortgage on the immovable fixed assets of the Company situated at Plot No. 3, Survey No. 37,
Mouje Ishwarpura, Taluka Kadi, District Mehsana, and Ahmedabad to secure issue of the Debenture Certificate.
ii) Equitable Mortgage on future immovable fixed assets of the Company other than that mentioned in i) above.
iii) Charge on the present and future movable fixed assets of the Company.
b. Additional Security
i) Pledge and Default Call Option exercise on 1,05,82,630 Fully Convertible Debentures of ` 100 each of
S. Kumars Nationwide Limited (SKNL) held by Anjaneya Holding Pvt. Ltd (AHPL) and the consequent shares to
be issued to AHPL on conversion of the said Fully Convertible Debentures.
ii) Pledge and Default Call Option exercise on the 10,00,000 Equity Shares of ` 10/- each of the Company held
by SKNL.
c. Redemption of the Non Convertible debentures
The redemption of Non Convertible Debentures shall take place by September 30, 2012 of the face value of the
Non Convertible debentures.
The Non Convertible Debentures shall have redemption premium of 20% on face value of debentures redeemed
as above.
NOTE : 8 B
There is delay in Interest payment of ` 267.12 Lacs (Net of TDS ` 29.68 Lacs) to India Debt Management Private Limited
for NCDs due on 31st March, 2012.
(` in Lacs)
Particulars
73
Consolidated Notes to Financial Statements
As at
31 st March 2012
As at
31 st March 2011
NOTE :9 SHORT TERM PROViSiON
Provision for Employee Benefit
Gratuity (Non-Funded) 0.72 17.05
Leave benefits (Non-Funded) 4.21 36.37
Other Provision
Provision for Income Tax (Net of Advance Tax of ` 16.15 lacs,
P.y. ` 15.90 Lacs)
1,522.81 674.10
Provision for Wealth Tax 0.41 0.85
Provision for Premium on Redemption of NCDS 1,309.00 1,278.92
TOTAL 2,837.15 2,007.29