re paramount
TRANSCRIPT
PCL/SE/11/2019-2020
re PARAMOUNT CABLES
08.11.2019
The Corporate Relationship Department
The Bombay Stock Exchange Ltd.
Phiroze Jeejeebhoy Towers,
Dalal Street,
Mumbai-400 001
The General Manager- Listing
National Stock Exchange of India Ltd.
“Exchange Plaza”, Bandra-Kurla Complex,
Bandra (East),
Mumbai-400 051
Symbol/Scrip Code: (BSE)530555/(NSE) PARACABLES
Sub: Outcome of the Board Meeting
Dear Sir,
Pursuant to Regulation 33 of SEBI (Listing Obligation and Disclosure Requirement)
Regulation, 2015 (Listing Regulations), this is to inform you that Board at its meeting held
on today i.e. 08.11.2019 has approved and taken on records the Unaudited Financial
Results for the Second Quarter and Half Year ended 30.09.2019
The Copies of the Un-Audited Financial Results along with Limited Review Report are
enclosed for the information and record.
In addition to the above following items were discussed/approved:
1. Toissue and allot, subject to the approval of the shareholders of the Company,
a maximum of upto 2,24,00,000 equity warrants of the Company convertible
into equivalent number of equity shares of face value Rs. 2 each (“Equity
Warrants”) to the following Promoters and persons / entities belonging to the
Promoter Group:
Sr. No. Name of Person No. of Warrants
1 SANJAY AGGARWAL 43,00,000
2 SANDEEP AGGARWAL 43,00,000
3 KAMLA AGGARWAL 5,00,000
4 SANJAY AGGARWAL HUF 14,50,000
5 DHRUV AGGARWAL 14,50,000
6 TUSHAR AGGARWAL 14,50,000
7 PARTH AGGARWAL 14,50,000
8 PARAMOUNT TELECABLES LIMITED 75,00,000
2. The Board considered and approved the notice for passing resolution of
Issue of preferential allotment by means of Postal Ballot in accordance
with the provisions of Companies Act, 2013 and rules / regulations made
thereunder.
Paramount Communications Ltd
Paramount House
C-125 Naraina Industrial Area Phase-1
New Delhi - 110028
t: +91 11 45618800
f: +91 11 25893719-20
www.paramountcables.gcom
CIN : L74899DL1994PLC061295
The issue price for the proposed allotment of Equity Warrant will be determined
in accordance with the Securities and Exchange Board of India (Issue of Capital
and Disclosure Requirements) Regulations, 2018.
The Board Meeting commenced at 2.00 P.M. and concluded 4.00 P.M.
Kindly acknowledge the receipt of same
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P. BHOLUSARIA & CO. 26/11, SHAKTI NAGAR, CHARTERED ACCOUNTANTS DELHI-110 007
Telephones:23841467
Email id: [email protected]
Auditor’s Review Report on Quarterly and Year to Date Unaudited Consolidated Financial
Results of the Company Pursuant to the regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations ,2015, as amended
To
The Board of Directors of
PARAMOUNT COMMUNICATIONS LIMITED
1. We have reviewed the accompanying statement of unaudited consolidated financial results of
Paramount Communications Limited (‘the Company’) and its Subsidiaries (the Holding Company
and its Subsidiaries together referred to as " the Group") for the quarter ended 30th September
2019 and year to date from 1st April, 2019 to 30th September 2019 (‘the statement’) attached
herewith, being submitted by the Parent Company pursuant to the requirement of Regulation 33
of SEBI (Listing obligations and disclosure requirements) Regulation, 2015, as amended.
Attention is drawn to the fact that consolidated figures for the net cash inflows for the
corresponding period from 1st April, 2018 to 30th September 2018 as reported in these
Unaudited Consolidated financial Results have been approved by the Parent’s Board of Directors,
but have not been subjected to review.
2. The preparation of the statement in accordance with the recognition and measurement principles
laid down in the Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”),
prescribed under section 133 of the Companies Act, 2013 read with rules 3 of Companies (Indian
Accounting Standard) Rule, 2015 and other accounting principles generally accepted in India, read
with the circular is the responsibility of the Parent Company’s Management and has been
approved by the Parent’s Board of Directors. Our responsibility is to express a conclusion on the statements based on our review.
3. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410,
“Review of Interim Financial Information Performed by the Independent Auditor of the Entity”
issued by the Institute of Chartered Accountants of India. This standard requires that we plan and
perform the review to obtain moderate assurance as to whether the financial statements are free
of material misstatement. A review is limited primarily to inquiries of company personnel and
analytical procedures applied to financial data and thus provide less assurance than an audit. We
have not performed an audit and accordingly, we do not express an audit opinion.
We have also performed he procedures in accordance with Circular No. CIR/CFD/CMD1/44/2019
dated March 29, 2019 issued by the Security and Exchange Board of India under Regulation 33(8)
of the Listing Regulations, to the extent applicable.
4. The statement includes the result of:
Subsidiaries:
Paramount Holdings Limited AEI Power Cables Limited
5. The accompanying statement includes interim financial results and other financial information of 2 Subsidiaries which reflects total revenue of Rs. NIL, net profit after tax of Rs. NIL and total
comprehensive income of Rs. NIL for the quarter ended 30th September 2019 and for the period from 1st April, 2019 to 30th September 2019 respectively, and net cash flow of Rs. NIL which are certified by management. According to the information and explanation given to us by the management, these interim financial results and other financial information are not material to the group. Our conclusion on the statement is not modified in respect of the above matter.
6. Based on our review conducted as above and procedures as performed as stated in Paragraph 3, and based on the consideration of matters referred to in Paragraph 5 above nothing has come to our attention that causes us to believe that the accompanying statement, prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting
Standards (“Ind AS”) as specified under Section 133 of the Companies Act, 2013, read with
relevant rules issued thereunder and other recognized accounting practices and polices has not
disclosed the information required to be disclosed in terms of Regulation 33 of SEBI (Listing
obligations and disclosure requirements) Regulation, 2015 read with the Circular, including the manner in which it is to be disclosed, or that it contains any material misstatement.
For P. BHOLUSARIA & CO. CHARTERED ACCOUNTANTS
Firm Registration No: 000468N
Pawan Bholusaria
Partner
M.No.080691 Place: New Delhi
Date: 8th November, 2019
P. BHOLUSARIA & CO. 26/11, SHAKTI NAGAR, CHARTERED ACCOUNTANTS DELHI-110 007
Telephones:23841467
Email id: [email protected]
Auditor’s Review Report on Quarterly and Year to Date Unaudited Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended
To
The Board of Directors of
PARAMOUNT COMMUNICATIONS LIMITED
1. We have reviewed the accompanying statement of unaudited standalone financial results of Paramount Communications Limited (‘the Company’) for the quarter ended 30th September 2019 and year to date from 1st April, 2019 to 30th September 2019 (‘the statement’) attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of SEBI (Listing obligations. Attention is drawn to the fact that figures for the net cash inflows for the corresponding period from 1st April, 2018 to 30th September 2018 as reported in these Unaudited financial Results have been approved by the Parent’s Board of Directors, but have not been subjected to review.
The preparation of the statement in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”), prescribed under section 133 of the Companies Act, 2013 read with rules 3 of Companies (Indian Accounting Standard) Rule, 2015 and other accounting principles generally accepted in India, read with the circular is the responsibility of the Company’s Management and has been approved by the Board of Directors. Our responsibility is to express a conclusion on the statements based on our review.
We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the financial statements are free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provide less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying statement, prepared in accordance with the recognition and measurement principles laid down in the applicable Indian Accounting Standards (“Ind AS”) as specified under Section 133 of the Companies Act, 2013, read with relevant rules issued thereunder and other recognized accounting practices and polices has not disclosed the information required to be disclosed in terms of Regulation 33 of SEBI (Listing obligations and disclosure requirements) Regulation, 2015 read with the Circular, including the manner in which it is to be disclosed, or that it contains any material misstatement.
For P. BHOLUSARIA & CO.
CHARTERED ACCOUNTANTS
Firm Registration No: 000468N
an Bholusaria
Partner
M.No.080691 Place: New Delhi
Date: 8tt November, 2019