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Baba Arts Ltd.
Market Cap. (Rs.) 20.95 Cr. P/BV 1.14 Book Value (Rs.) 3.05
52 Week High/Low (Rs.) 4/2 FV/ML 1/1 P/E(X) 25.57
Bookclosure 18/09/2017 EPS (Rs.) 0.14 Div Yield (%) 0.00
NOTES TO ACCOUNTS
You can view the entire text of Notes to accounts of the company for the latest year
Year End :2015-03 1. Term Loan facility is secured by

a. exclusive first charge on all tangible and intangible assests, including film negative rights, IPR, and film exploitation rights present and future of the film "Action Jackson".(The Film)

b. Exclusive First Charge on all revenues / receivables of the film.

c. First Charge on IPR of various films.

2. Cash Credit facility is secured by way of hypothecation of book debts and receivables, satellite rights/ IPR of various films and TV Serials.

3. Term Loan and Cash Credit both facilities are further secured by:

a. Equitable Mortgage of Immovable Property belonging to the Company situated at Mumbai.

b. Pledge of Three Crore Shares of the Company held by the Managing Director of the Company constituting 49.85% of his shareholding in the Company.

c. Hypothecation of Plant & Machinery of the Company

d. Personal Guarantee of the Managing Director of the Company

4. Contingent Liability -

A. Income Tax:

i) Penalty of Rs. 542,540/- levied U/s 271(1 )(c) of the Income Tax Act, 1961 by Dy. Commissioner of Income Tax - 8(1) in respect of alleged concealment of income for the A.Y 2011-12.

The Company has preferred an appeal against the said demand before the Commissioner of Income Tax and the Company is confident that the said demand will be dropped and no liability will arise against the Company.

ii) Demand of Rs. 1,754,329/- (which includes Tax of Rs. 212,437/- and interest of Rs. 1,541,982) in respect of alleged bogus purchase raised by Asstt. Commissioner of Income Tax -9(2)(1) for the A.Y 2009-10.

The Company has filed a letter for rectification of the said order as the Asstt. Commissioner of Income Tax has not given credit towards TDS for an amount of Rs.1,101,082/-.The Company has already provided for the tax demand of Rs. 212,437/- and does not expect any further liability.

B. Maharashtra Value Added Tax:

i) Demand of Rs. 16,781,560/- towards MVAT and Rs. 61,256/- towards CST for the year 2010-11 raised by Dy. Commissioner of Sales Tax, Mumbai towards alleged excess Set Off Claimed by the Company.

The Company has filed an appeal against the said order before the Joint Commissioner of Sales Tax (Appeals), Mumbai and is confident that the said demand will be withdrawn as such the Company does not expect any liability on this account.

5. Related Party Disclosure as per Accounting Standard (AS) 18 A. List of related parties.

a. Key Management Personnel

(i) Shri Gordhan P. Tanwani - Chairman & Managing Director.

b. Relatives of Key Management Personnel:

(i) Smt. Jyoti G. Tanwani - Wife

(ii) Shri Nikhil G. Tanwani - Son

(iii) Shri Rahul G. Tanwani - Son

(iv) Gordhan P Tanwani (HUF)

(v) Shri Raju P Tanwani - Brother

c. Other related parties (Companies in which director or their relatives have significant influence)

(i) Bhagwati Media Pvt. Ltd.

(ii) Larry's Electronics Pvt Ltd.

(iii) Bhagwati Holdings Pvt. Ltd.

(iv) M/s. Baba Developers

(v) M/s. Super Plast

(vi) M/s. Baba Digital

(vii) M/s. Om Enterprises

6. Disclosure as per clause 32 of The Listing Agreement

a) Loans and Advances to subsidiary companies: Rs. Nil

b) Loans and Advances to associate companies: Rs. Nil

c) Loans and Advances to associate companies/ firms in which directors are interested (excluding subsidiary and associate companies): Rs. Nil

7. Previous year's figures have been regrouped/ rearranged wherever considered necessary.

8. The Notes referred to above form an integral part of Balance Sheet and Profit & Loss Account.

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Achiievers Equities Ltd (AEL) Member of NSE, BSE and MCX-SX
Reg. Office: 32/A, Diamond Harbour Road, Shakerbazar, Kolkata 700008 Tel: 033 2445 6442/66063000 Fax: 033 6606 3041
Email: info@achiieversequitiesltd.com , customer.care@achiieversequitiesltd.com
NSE Registration Nos.: NSE (Cash) : INB231395832 ; NSE (F&O) : INF231395832 ; NSE (Currency) : INE231395832 ; BSE (Cash) : INB011395838 ; BSE (F&O) : INF011395838 ; BSE(Currency) : INE011395838 | DSE Registration Nos. : INB051395839 | USE Registration Nos. : INE271395837
Achievers Commercial Pvt Ltd (ACPL) Members of MCX, ACE and NSEL. | SEBI Registration No. INZ000050830 | ACE: ACEL/TMC/CORP/0194 | NSEL: 40020
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