Amal Ltd 2015-16

61 Notes to the Financial Statements ( ` 000) Note 3 Reserves and surplus As at March 31, 2016 As at March 31, 2015 a) Securities premium account 87,688 87,688 b) Revaluation reserve: Balance as at the beginning of the year 2,446 2,446 Less: Transferred to the Statement of Profit and Loss - - Balance as at the end of the year 2,446 2,446 c) Surplus | (Deficit) in the Statement of Profit and Loss: Balance as at the beginning of the year (4,34,190) (4,28,422) Add: Profit | (Loss) for the year 37,189 (5,768) Balance as at the end of the year (3,97,001) (4,34,190) (3,06,868) (3,44,055) ( ` 000) Note 4 Share application money pending allotment As at March 31, 2016 As at March 31, 2015 Advance towards Share capital - Refer note below 24,000 24,000 24,000 24,000 Note: Advance towards Share capital amounting to ` 240 lakhs refers to the amount received from the Promoter Company towards Share capital during the year 1996-97. The Company is to issue 24 lakhs equity shares of ` 10/- each to the Promoter Company at par as per the Modified Sanctioned Scheme (MS - 13) approved by the BIFR on July 01, 2013. The Company has applied for in-principle approval from ASE, BSE and SEBI which is pending. Considering the above, the advance has been shown as Share application money pending allotment. Further, as per Modified Draft Rehabiliation Scheme (MDRS) (“Merger Scheme”) submitted to BIFR for approval, upon the merger scheme becoming effective, the above Advance towards Share capital shall stand cancelled and extinguished. ( ` 000) Note 5 Non-current liabilities As at March 31, 2016 As at March 31, 2015 (a) Long-term borrowings Secured Loans from related parties - Refer note (i) and (ii) below and also Refer note 28 1,12,889 1,12,889 Unsecured Loans from related parties - Refer note (ii) below and also Refer note 28 53,958 53,958 1,66,847 1,66,847 Note: (i) The Company had reached a One Time Settlement with the secured creditors comprising of Corporate | Term loans availed from the banks and financial institutions under which the payments were made directly