General information about company
Scrip code	523246
Name of company	Chokhani International Limited
Result Type	Main Format
Class of security	Equity
Date of start of financial year	01-04-2016
Date of end of financial year	31-03-2017
Date of board meeting when results were approved	16-05-2017
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	08-05-2017
Description of presentation currency	INR
Level of rounding used in financial results	Lakhs
Reporting Quarter	Yearly
Nature of report standalone or consolidated	Standalone
Whether results are audited or unaudited	Audited
Segment Reporting	Single segment
Description of single segment	Shipping Repairs
Start time of board meeting	11:00
End time of board meeting	11:30

Quarterly & Half Yearly Financial Result by Companies Other than Banks
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-01-2017	01-04-2016
B	Date of end of reporting period	31-03-2017	31-03-2017
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Revenue From Operations
	Revenue from operations	0	0
	Other income	0.42	1.95
	Total Revenue	0.42	1.95
2	Expenses
(a)	Cost of materials consumed	0	0
(b)	Purchases of stock-in-trade	0	0
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	0	0
(d)	Employee benefit expense	0.79	4.58
(e)	Finance costs	0	0
(f)	Depreciation and amortisation expense	0.16	1
(g)	Other Expenses
1	Secretarial Expenses	1.27	12.95
2	Legal & Professional Charges	4.62	17.57
3	Loss on sale of Sheres	0	0
4	Expenses Exceeding 10% of total Expense	2.9	5.05
	Total other expenses	8.79	35.57
	Total expenses	9.74	41.15

Quarterly & Half Yearly Financial Result by Companies Other than Banks
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-01-2017	01-04-2016
B	Date of end of reporting period	31-03-2017	31-03-2017
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
3	Profit before exceptional and extraordinary items and tax	-9.32	-39.2
4	Exceptional items	0	0
5	Profit before extraordinary items and tax	-9.32	-39.2
6	Extraordinary items	0	0
7	Profit before tax	-9.32	-39.2
	Current tax	0	0
	Deferred tax	0	0
	Total tax expenses	0	0
9	Net Profit Loss for the period from continuing operations	-9.32	-39.2
10	Profit (loss) from discontinuing operations before tax	0	0
11	Tax expense of discontinuing operations	0	0
12	Net profit (loss) from discontinuing operation after tax	0	0
13	Profit (loss) for period before minority interest	-9.32	-39.2
16	Net profit (Loss) for the period	-9.32	-39.2

Quarterly & Half Yearly Financial Result by Companies Other than Banks
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-01-2017	01-04-2016
B	Date of end of reporting period	31-03-2017	31-03-2017
C	Whether results are audited or unaudited	Audited	Audited
D	Nature of report standalone or consolidated	Standalone	Standalone
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
17	Details of equity share capital
	Paid-up equity share capital	3277.42	3277.42
	Face value of equity share capital	0	0
17	Details of debt securities
18	Reserves excluding revaluation reserve		-5746.94
20	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	-0.03	-0.12
	Diluted earnings (loss) per share from continuing and discontinued operations	-0.03	-0.12
24	Disclosure of notes on financial results	Textual Information(1)

Text Block

Textual Information(1)

1. The above results were approved by the Board of Directors in their meeting held on 16.05.2017. 2. The Company business segment consists of 'Ship Repairs'. However, the operation remains suspended since June,1998. 3. The Company’s had in earlier year’s filed a claim on ICICI (Lead Bank) amounting to Rs. 210 crores, on account of negligence in maintaining the assets by the lead bank which resulted in total loss of company’s most valuable assets having value more than sufficient to meet the claims of all secured and / or unsecured creditors. By failing to carry out timely maintenance despite reminders from the court Receiver, High court, Mumbai and others the financial Institutions allowed dissipation and ultimate destruction of the two dry docks and other imported & indigenous machineries. Therefore the cost of fixed assets (net of relevant revaluation reserve) less depreciation provided till the date of disposal together with value of Inventories aggregating to Rs. 48.81 crores as intimated by DRT Receiver had been deducted from secured loans. Earlier years the Debt Recovery Tribunal (DRT) vide its order dated 30.06.2015 has allowed the claim of ICICI Bank of Rs. 18.81 Cr. (along with simple interest @12% p.a. from 01.04.1997 till the date of realization) & Company’s claim amounting to Rs. 210 crores has been dismissed. The company has filed an appeal before DRAT, Mumbai. The Debt RecoveryTribunal(DRT) Chennai vide its order dated 03-01-2017 has allowed the claim of IDBI of Rs. 31.03 Crores and IFCI of Rs. 21.61 crores totaling Rs. 52.64 crores (alongwith 6% simple interest from the 03-02-1999 till the date of realisation). The company has filed review petition before DRT, Chennai. In view of above, the management is of the opinion that no amount whatsoever is due and payable to the Financial Institutions and necessary final adjustment will be made as and when matter is finally decided by Court. 4. Read with Note 2 & 3 above the companies accounts have been prepared on a going concern basis. 5 (a). Debtors amounting to Rs. 10,03,45,887.00 due at the time of discontinued operations from (i) The Shipping Corporation of India (ii) The Commander, Coast Guard are under litigation at various stages. The management is confident of recovery, therefore no provision has been considered necessary. 5 (b). Certain debit and credit balances (apart from (a) above) are subject to confimation/reconciliation and as matter is under litigation, Management is hopeful of recovery and is of the opinion that no provision is necessary. 6. Regarding the Auditors qualifications pertaining to non-confirmation/reconciliation of certain debit and credit balances, Auditors qualifications could not be addressed as the operation of the company remained suspended since June 1998 and the official receiver appointed by Mumbai High Court has taken possession of the Ship Yard on 14th August, 1998 and sold off the entire fixed assets thereof & the matter is subjudice. 7. The above results have been reviewed by Audit Committee and approved by Board of Directors and have been audited by Statutory Auditors of the Company. 8. Previous quarters figures have been re-grouped and re-arranged wherever necessary. 9. Since the operations of the company remained suspended since June 1998, there is no virtual certainty with regard to realisation of deferred tax assets and accordingly no deferred tax assets has been realised.

Statement of Asset and Liabilities
Particulars		Current year ended (dd-mm-yyyy)	Previous year ended (dd-mm-yyyy)
Date of start of reporting period		01-04-2016	01-04-2015
Date of end of reporting period		31-03-2017	31-03-2016
Whether results are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Standalone	Standalone
	Equity and liabilities
1	Shareholders' funds
	Share capital	3277.42	3277.42
	Reserves and surplus	-5746.95	-5707.74
	Money received against share warrants
	Total shareholders' funds	-2469.53	-2430.32
2	Share application money pending allotment	0	0
3	Deferred government grants
4	Minority interest
5	Non-current liabilities
	Long-term borrowings	0	0
	Deferred tax liabilities (net)
	Foreign currency monetary item translation difference liability account
	Other long-term liabilities
	Long-term provisions	0.02	0.02
	Total non-current liabilities	0.02	0.02
6	Current liabilities
	Short-term borrowings	361.88	361.88
	Trade Payables
	(A) Total outstanding dues of micro enterprises and small enterprises	0	0
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	282.27	283.27
	Other current liabilities	2851.06	2849.02
	Short-term provisions	0.45	0.43
	Total current liabilities	3495.66	3494.6
	Total equity and liabilities	1026.15	1064.3
	Assets
1	Non-current assets
(i)	Fixed assets
	Tangible assets	0.07	4.25
	Producing properties
	Intangible assets	0	0
	Preproducing properties
	Tangible assets capital work-in-progress
	Intangible assets under development or work-in-progress
	Total fixed assets	0.07	4.25

Statement of Asset and Liabilities
Particulars		Current year ended (dd-mm-yyyy)	Previous year ended (dd-mm-yyyy)
Date of start of reporting period		01-04-2016	01-04-2015
Date of end of reporting period		31-03-2017	31-03-2016
Whether results are audited or unaudited		Audited	Audited
Nature of report standalone or consolidated		Standalone	Standalone
(ii)	Non-current investments	0	0
(v)	Deferred tax assets (net)
(vi)	Foreign currency monetary item translation difference asset account
(vii)	Long-term loans and advances	0	0
(viii)	Other non-current assets	2.62	2.47
	Total non-current assets	2.69	6.72
	Current assets
	Current investments	0	0
	Inventories	0	0
	Trade receivables	1003.46	1003.46
	Cash and cash equivalents	19.04	51.56
	Bank balance other than cash and cash equivalents	0	0
	Short-term loans and advances	0.47	0.71
	Other current assets	0.49	1.85
	Total current assets	1023.46	1057.58
	Total assets	1026.15	1064.3
	Disclosure of notes on assets and liabilities