General information about company
Scrip code	523246
Name of company	Chokhani International Limited
Class of security	Equity
Date of start of financial year	01-04-2017
Date of end of financial year	31-03-2018
Date of board meeting when results were approved	13-02-2018
Date on which prior intimation of the meeting for considering financial results was informed to the exchange	06-02-2018
Description of presentation currency	INR
Level of rounding used in financial results	Lakhs
Reporting Quarter	Third quarter
Nature of report standalone or consolidated	Standalone
Whether results are audited or unaudited	Unaudited
Segment Reporting	Single segment
Description of single segment	Ship Repairing
Start time of board meeting	10:00
End time of board meeting	10:20

Financial Results – Ind-AS
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	01-10-2017	01-04-2017
B	Date of end of reporting period	31-12-2017	31-12-2017
C	Whether results are audited or unaudited	Unaudited	Unaudited
D	Nature of report standalone or consolidated	Standalone	Standalone
	Part I
1	Income
	Revenue from operations	5	5
	Other income	0.02	0.22
	Total income	5.02	5.22
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	0.78	2.51
(e)	Finance costs	0.01	0.04
(f)	Depreciation, depletion and amortisation expense	0.01	0.01
(f)	Other Expenses
1	Other Expenses	3.09	20.74
10
	Total other expenses	3.09	20.74
	Total expenses	3.89	23.3

Financial Results – Ind-AS
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	01-10-2017	01-04-2017
B	Date of end of reporting period	31-12-2017	31-12-2017
C	Whether results are audited or unaudited	Unaudited	Unaudited
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	Total profit before exceptional items and tax	1.13	-18.08
4	Exceptional items	0	0
5	Total profit before tax	1.13	-18.08
7	Tax expense
8	Current tax	0	0
9	Deferred tax	0	0
10	Total tax expenses	0	0
11	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
14	Net Profit Loss for the period from continuing operations	1.13	-18.08
15	Profit (loss) from discontinued operations before tax	0	0
16	Tax expense of discontinued operations	0	0
17	Net profit (loss) from discontinued operation after tax	0	0
19	Share of profit (loss) of associates and joint ventures accounted for using equity method	0	0
21	Total profit (loss) for period	1.13	-18.08

Financial Results – Ind-AS
Particulars		3 months/ 6 month ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
A	Date of start of reporting period	01-10-2017	01-04-2017
B	Date of end of reporting period	31-12-2017	31-12-2017
C	Whether results are audited or unaudited	Unaudited	Unaudited
D	Nature of report standalone or consolidated	Standalone	Standalone
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
1	Amount of items that will not be reclassified to profit and loss	0.01	0.04
	Total Amount of items that will not be reclassified to profit and loss	0.01	0.04
2	Income tax relating to items that will not be reclassified to profit or loss	0	0
3	Amount of items that will be reclassified to profit and loss
	Total Amount of items that will be reclassified to profit and loss
4	Income tax relating to items that will be reclassified to profit or loss	0	0
5	Total Other comprehensive income	0.01	0.04

Financial Results – Ind-AS
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	01-10-2017	01-04-2017
B	Date of end of reporting period	31-12-2017	31-12-2017
C	Whether results are audited or unaudited	Unaudited	Unaudited
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.
23	Total Comprehensive Income for the period	1.14	-18.04
24	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent
	Total profit or loss, attributable to non-controlling interests
25	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent	0	0
	Total comprehensive income for the period attributable to owners of parent non-controlling interests	0	0
26	Details of equity share capital
	Paid-up equity share capital
	Face value of equity share capital
27	Details of debt securities
	Paid-up debt capital
	Face value of debt securities
28	Reserves excluding revaluation reserve
29	Debenture redemption reserve
30	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	-0.03	-0.05
	Diluted earnings (loss) per share from continuing operations	-0.03	-0.05
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
ii	Earnings per equity share
	Basic earnings (loss) per share from continuing and discontinued operations	-0.03	-0.05
	Diluted earnings (loss) per share from continuing and discontinued operations	-0.03	-0.05
31	Debt equity ratio
32	Debt service coverage ratio
33	Interest service coverage ratio
34	Disclosure of notes on financial results	Textual Information(1)

Text Block

Textual Information(1)

1 The above unaudited financial results have been reviewed by the audit commettee and approved by the Board of Directors in their meeting held on 13th February, 2018. 2 The company adopted Indian Accounting standards ("lnd-AS") from 1st April, 2017 and accordingly these financial results have been prepared in accordance with the recognition and measurement principals laid down in the lnd-AS 34 interim financial reporting prescribed under Section 133 of the Companies Act, 2013 read with relevant Rules issued thereunder and the other accounting principles generally accepted in India. The result for the quarter and nine months ended 31st December, 2016 have been re-stated to make them comparable with lnd AS results. The lnd-AS compliant financial results pertaining to quarter and nine months ended 31st December, 2016 have been limited review by the Auditors. The management has exercised due diligence to ensure that the financial results presents a true and fair view of its affair. 3 The Statutory Auditors have carried out a Limited Review of the standalone financial results of the quarter and nine months ended 31st December 2017. 4 The Company business segment consists of 'Ship Repairs'. However, the operation remains suspended since June,1998. 5 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 falling 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 which is dismissed vide its order dated 20.07.2017. The Company has filed an appeal before DRAT 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. 6 Read with Note 4 & 5 above the companies accounts have been prepared on a going concern basis. 7A 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. 7B Certain debit & Credit balances(apart from a above) are subject to confirmation/reconciliation and as matter is under litigation, Management is hopeful of recovery and is of the opinion that no provision is neccessary. 8 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. 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. 10 Previous quarters figures have been re-grouped and re-arranged wherever necessary.