1. Shares allotted as fully paid up by way of bonus shares (during 5 years preceding March 31, 2016)
No Shares were allotted as fully paid up by way of bonus shares during proceeding 5 years
2. Other information regarding issue of shares in last five the years
a) The Company has not issued any shares without payment being received in cash.
b) The Company has not undertaken any buy-back of shares.
* Additional information :
Term Loan of Rs. 1,500 Lacs (Previous year 1,458.43 Lacs) from Apna Sahakari Bank Limited is secured by mortgage of office premises at Prabhadevi, Mumbai and term loan of Rs. 4,200 Lacs from Apna Sahakari Bank Limited (1,500 Lacs) in consortium with The Kalyan Janta Sahakari Bank Limited (600 Lacs), Janata Sahakari Bank Limited (1,300 Lacs) and Sangli Urban Co-op Bank (800 Lacs) is secured by mortgage of property at Panoramic Resorts, Panvel.
3. Retirement benefit Plan:
The present value of the defined benefit obligation and current service cost were measured using the Projected Unit Credit Method, with actuarial valuations being carried out at each balance sheet date. The following table sets out the non funded status of the gratuity plan and the amounts recognized in the Company's financial statements as at March 31st, 2016.
4. Trade Receivables are unsecured and are subject to confirmation.
5. Reconciliation of statutory dues payable is under progress though the company does not expect any major difference on such reconciliation. Interest and/or penalty for non-payment/late payment of statutory dues and for non-filing/late filing of statutory returns will be accounted for as and when paid.
6. Share Certificates in respect of investments in shares of certain co-operative banks is yet to be received by the company.
7. Disclosures of related parties for the year ended March 31, 2016
A Related parties and their relationship Subsidiaries:-
a) Subsidiaries (Direct holding) b) Enterprises Controlled by directors/relatives
Indo Pacific Hotels Limited Pancard Clubs Limited
Panoramic Holidays Limited Herbo Effect India Limited
Panoramic Tour and Travels Limited Panoramic Resorts (India) Limited
Sri Vatsa Hotels Limited Hotel Pinnacle Limited
Panoramic Ace Properties Inc., (USA) Panoramic Record Storage & Management Limited Sai Properties Inc., (USA) (formerly Athiti Resorts Limited)
Sai Motels Limited, (New Zealand) Golden Valley Hotels Limited
Seaview Homes Co., Ltd, (Thailand) Seaview Retreats Limited
Panoramic Singapore Hospitality Leo Resorts and Hotels Private Limited
Pte. Ltd, (Singapore) Vidnyan Siddhi Films Limited
Panoramic Holidays DMCC, (Dubai) Panoramic Agriculture and Farms Private Limited
Panoramic Hotels Limited Pan Product Impex Private Limited Panoramic Structures Private Limited Panoramic Land Developers Private Limited Panoramic Investment Advisors Private Limited Smooth Financials Private Limited Panoramic Husbandries Private Limited Subsidiaries (Indirect holding) Panoramic Agricultural Services Private Limited
Georgian Motel Corp., (USA) Panoramic Greeneries Private Limited
Sai Living Hudson Inc., (USA) Brahma Creations Private Limited
Travel Universe Inc., (USA) Pancard Holiday Limited
F.M.Patong Development Company Limited, Panoramic Agrobased Services Private Limited (Thailand) Panoramic Agrovet Private Limited
Panoramic Croplands Private Limited Panoramic Farm-Holdings Private Limited Panoramic Krishi Utpad Private Limited Panoramic Agrobusiness Private Limited Panoramic Farmhouse Private Limited Panoramic Farmery Private Limited Panoramic Bhoomi Utpadan Private Limited Panoramic Dhaan Samruddhi Private Limited Grand View Hotel, Restaurant & Bar Graciano Cottages
Panoramic Realestate Consultants LLP
Pan Herbbo Limited
Sai Nirman Properties Ltd.
Coronae Hotels Pvt. Ltd.
Panoramic Leisure Getaways Pvt. Ltd.
Glamour Hospitality Pvt. Ltd.
B Key Management Personnel
1 Babu Iyer Managing Director (Resigned w.e.f. from 9th Feb, 2016)
2 Ramachandran Ramakrishnan Managing Director (Appointed w.e.f. from 10th Feb, 2016)
3 Ramachandran Ramakrishnan Chief Financial Officer (from 29.09.2015 upto 09.02.2016)
4 Pravin Chavan Chief Financial Officer (Appointed w.e.f. from 10th Feb, 2016)
5. Sanjive Arora Sr. V.P. Corporate Affairs & Company Secretary
C Related party transactions for the year ended March 31st, 2016
The Company entered into transactions with related parties during the year. These transactions along with the relevant balances are set out as under:
Notes :-
1 Loans/Advances shown above, to subsidiary fall under the category of Loans/Advances in nature of Loans, where there is no repayment schedule and are re-payable on demand.
2 There are no investments by the loaners in the shares of the parent company and /or subsidiary companies.
8. Previous years' figures have been recast / restated to conform to the classification of the current year
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