Annual Report FY 2010-11 - Pipavav Shipyard

Pipavav Defence and Offshore
Engineering Company Limited
Schedules forming part of the Balance Sheet
Particulars
Schedule - 1
SHARE CAPITAL
Authorised
As at March 31, 2011
Rs in Lacs
As at March 31, 2010
800,000,000 (Previous Year: 800,000,000) Equity shares of
Rs. 10/- each
80,000.00 80,000.00
Issued, Subscribed and Paid Up
80,000.00 80,000.00
665,798,388 (Previous Year: 665,798,388) Equity Shares of
Rs. 10/- each fully paid up
66,579.84 66,579.84
Total
Note:
25,400,000 Equity shares of Rs. 10/- each fully paid up will be
alloted to the holders of 10% Compulsorily and Mandatorily
Convertible Debentures on the conversion of these debentures
and 25,221,612 Equity shares of Rs. 10/- each fully paid up
will be alloted on the exercise of the option by the equity share
warrant holders.
Schedule - 2
RESERVES AND SURPLUS
Securities Premium Account
66,579.84 66,579.84
Balance as per Last Balance Sheet 103,650.01 67,448.02
Add :- On Issue of Shares - 41,321.57
Less :- Securities Issue Expenses 1,148.45 5,119.58
102,501.56 103,650.01
Total
Schedule - 3
SECURED LOANS
Term Loans
102,501.56 103,650.01
- from Banks 69,017.01 57,035.09
- from Financial Institutions 39,220.82 40,782.25
108,237.83 97,817.34
Short Term Loans
- from Banks 42,650.00 9,500.00
- from Financial Institutions - 5,500.00
42,650.00 15,000.00
Vehicle Loans 81.17 47.85
Interest Accrued and Due - 242.40
Total 150,969.00 113,107.59
1) The term loan from Banks and Financial Institutions referred to above are secured by way of first charge and mortgage on
all the immovable properties of the Company, both present and future and hypothecation of all movable properties of the
Company, both present and future, except book debts and stocks which are subject to the prior charge to secure working
capital requirements.
2) Short Term Loans from Banks referred to above includes:
a) Rs. 10,000 lacs secured by way of subservient charge on current assets of the company, b) Rs. 20,000 lacs secured
by way of subservient charges on Fixed assets of the Company, c) Rs. 5,000 lacs secured by way of first charge on the
current assets of the company and second charge on Fixed Assets of the company. d) Rs. 7,650 lacs secured against
FDR's pledged by the Company.
3) All term loans and short term loans of Rs. 25,000 lacs are guaranteed by a promoter group company.
4) Term Loans of Rs. 79,773.49 lacs and short term loans of Rs. 35,000 lacs are guaranteed by some of the directors in their
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personal capacity.
5) Vehicle Loans are secured by Hypothecation of the specific vehicles financed.
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