ICDS Ltd. — Regulatory Filings 2021

Feb 12, 2021

SEC/INA{SE/BSE/ 1 O.O2 /021 126February,2021

The Manager - Listing Compliance National Stock Exchange oflndia Ltd Exchange Plaza Bandra Kurla Complex Bandra @) MUMBAI_4OO 051

The Manager - Listing Compliance BSE Ltd Regd.Office : Floor 25 P J Towers, Dalal Street MUMBAI_4OO OOl

STOCK CODE: ICDSLTD

SECURITY CODE:511194

Dear Sir.

Sub : Newspapei" publication of Extract of Unaudited Financial Results.

Pursuant to Regurations 30 and 47 of securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015, please find enclosed the copies ofthe newspaper advertisement puUti.n"a on Friday, ihe l2m d,ay of February, 2021 in respect of Extract of unaudited Financial Results for the III Quarter^rline Months ended 3l"t December, 2020 approved by the Board at its meeting held on 10ft February, 2021.

The advertisement for the above has been published in the following Newspapers:

l. Udayavani Kannada daily.

1. The New Indian Express, English Daily.

This information can be viewed on the Company,s Website www.icdslimited.com. and also on the Website of the BSE Ltd i.e, wr{w.bseindia.com and NSE Ltd, i.e, www.nsei{rdia.com .

Kindly take the same on record and acknowledge receipt.

Thanking You,

Yours faithfully, For ICDS Ltd

Managing Director (DrN 00776729)

Regd. and Admn Offices : Syndicate House, PB. No. 46, Upendra Nagar, Manipal - 5761o4 phone : EPABX OB2O-27O1SOb Fax: 0820-2571197 Website : wwwicdslimited.com CIN : L65993KA1971PLC002106

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FRIDAY

IN THE COURT OF THE ADDL.CIVIL

BELTHANGADY (D.K.) Crl.M.C. No. 13/2021Hg Date: 17/3/2021

Between: Ramananda Shetty, S/o Late Between: Ramananda Shetty, S/o LateMahabala Shetty, Aged about 59years, Hakkeri House, ArambodyVillage, Betthngady Taluk — PetitionerThe Register of Birth and Deaths(Thasildar, Betthangady Taluk) andofters

TO WHOM SOEVER IT MAY CONCERN

TO WHOM SOEVER IT MAY CONCERNPlease take notice that, the abovemann optitioner has filed an applica-tion under Section 13(1) OF BIRTHAND DEATHS REGISTRATION ACT,seeking the registration of death ofMahabala Shetty S/

Given under my hand and seal of thecourt on this 3rd day of February

By order of the court Sheristedar, Court of the AdditionalCivil Judge And J.M.F.C. atBelthangady

Shivayya S.L., Advocate for petitione

۰

PUBLIC NOTICE

IDENTIFIE LOST

Oshin Mascarenhas, D/o Patrick Mascarenhas Residing at Doopadakatle House, Doopadakatte Post, Nitte Village, Karkala Taluk, Udupi District. I that I have misplaced my Passport No. BN4063064572720: Passport No. U2794835, in my favour and lost it beyond recovery. if anywhere found to anybody kindly communicate to the above address

CLWG30 NAVE

CHANGE OF NAME KALLENGADA KARYAPPA

DEVAIAH (old name), S/o Devaiah Kallengada Somappa, R/a Napoklu Village & Post- 571214, Madikeri Taluk, Kodagu District, Karnataka, have changed my name as KARIAPPA KALLENGADA DEVAIAH (new name) for all purposes vide affidavit dated 01.02.2021 sworn before Notary Daya D.B., Madikeri.

	CIN: L65993KA1971PLC002106, Web: www.lcdslimited.com"Extract of Unaudited Standalone Financial Results for the three months and nine months period ended December 31, 2020₹ in Lakhs
			. Three months period ended		Nine months period ended		Year ended
SI.No	Particulars	Dec 31, 2020(Unaudited)	Sep 30, 2020 Dec 31, 2019(Unaudited)	(Unaudited)	Dec 31, 2020(Unaudited)	Dec 31, 2019(Unaudited)	Mar 31, 2020(Audited)
1.	Total Revenue from operations (net)	91.91	47.26	52.23	231.50	288.42	357.84
	Net Profit/(Loss) for the period
	(before tax, extra-ordinary items)	44.83	5.68	(2.46)	95.12	51.08	(43.53)
	Net Profit/(Loss) for the period before tax(after extra-ordinary items)	44.83	5.68	(2.46)	95.12	51.08	(43.53)
	Net Profit/(Loss) for the period after tax(after extra-ordinary items)	44.83	(612.28)	(2.46)	(534.84)	31.08	(50.13)
	Total Comprehensive Income for the period[Comprising Profit / (Loss) for the period (after tax)	44.83	(612.28)	(2.46)	(534.84)	31.08	(54.58)
	and Other Comprehensive Income (after tax)]Equity Share Capital (face value of ₹ 10 each)	1,302.67	1,302.67	1,302.67	1,302.67	1,302.67	1,302.67
	Earnings per share (of $\bar{x}$ 10/ each)
	(for continuing and discontinued operations)	0.34	(4.70)	(0.02)	(4.11)	0.24	(0.38)
	(a) Basic (in rupees)(b) Diluted (in rupees)	0.34	(4.70)	(0.02)	(4.11)	0.24	(0.38)
	7. The Company has not recognised Deferred Tax Assets arised on provision for doubtful debts (net of deferred tax Liabilities) as a matter of prudence.						measurement gains (losses) on defined benefit plans are arrived at the year end on actuarial valuation of the obligation by the gratulty fund. Theactuarial gains/losses historically have not been material. 6. The Company does not foresee any diminution in the value of investments and balancesdue from subsidiary and the provisions made in the books are adequate and the management is hopeful of recovery of the same at the stated values.
	8. The Company has prepared its accounts on "going concern basis", in view of networth being positive with positive cashflows following thesuccessful implementation of the scheme of arrangement sanctioned by the Hon'ble High Court of Karnataka and Company's plans to foray into newoperations and gains out of the stock in trade of investments. 9. With respect to the Income Tax Demand of Rs. 1,024.04 Lakhs (inclusive of interest)raised by the Income Tax Department on ICDS Limited ('the Company') following the order of Hon'ble High Court of Karnataka disallowing depreciationon leased assets with respect to Block Assessment pertaining to assessment years from 1987-88 to 1997-98, the Supreme Court vide order datedFebruary 12, 2020 has disposed the matter setting aside the orders of the Hon'ble High Court, Income Tax Appellate Tribunal ('ITAT') andCommissioner of Income Tax (Appeals) - I ('CIT-A') and has remanded the matter back to the CIT-A for reconsideration of the matter afresh on its ownmerits in accordance with law including by examining the additional material / circumstances to be produced by the parties. The Company howeverhas not received any notices from CIT-A as at date. The Company had deposited Rs. 761.71 Lakhs against the said Income Tax demand as on date. TheCompany had also offered one of its immovable property as security which is free of any encumbrances. The Company was earlier legally advisedbased on the decisions of the Appellate authorities/Courts and the interpretations of other relevant provisions and documentation / material in itspossession, that the disallowance of depreciation will be deleted and demand raised on account of block assessments would get vacated accordinglyno provision for tax in the books was considered necessary under the regular provisions of Income Tax Act, 1961. The Ministry of Finance,Government of India has introduced the Direct Tax Vivaad Se Vishwas Act, 2020 ('DTVSV' or 'the Act') to help tax payers end their tax disputes with theIncome Tax Department by paying disputed tax and get waiver from payment of interest and penalty and also immunity from prosecution. As per theAct, the tax payers are required to remit of the disputed taxes by December 31, 2020. The Company has obtained opinion in this matter from taxconsultants. The Company is also confident that in case it opts for the settlement under the scheme, there will not be any cash outflow required to bemade in view of the amounts already paid under protest being higher than tax liability under DTVSV Scheme. The Company based on advises by thelegal experts considered a detailed analysis of the cost and benefits of opting to the scheme under the Act. Considering the cost and benefit analysisand long time lines involved in closure of the cases, the Company has filed an online application under DTVSV Scheme to settle matter duringDecember 2020. The management is confident that the company's application under DTVSV Scheme will be considered favourably by the taxauthorities and would be entitled to refund of excess taxes over and above the liability under DTVSV scheme. In view of the said decision of themanagement to opt for DTVSV Scheme, the Company has made provision for income tax for earlier years to the extent of Rs.617.96 Lakhs which is theestimated taxes payable as per DTVSV scheme.10. The outbreak of Coronavirus (Covid-19) pandemic globally and in India has caused significantdisturbance and slowdown of economic activities in the country. The Company, however, believes strongly that there will not be any significant impacton its revenues. The impact on future revenue streams could come from lower rental incomes on account of waivers / concessions in rent sought bythe tenants and cancellation of lease agreement which is the major source of income for the Company. The Company's rental income subsequent tothe quarter are back to the pre-existing levels and are expected to grow further post the pandemic. However, the Impact assessment of COVID-19 is acontinuing process given the uncertainties associated with its nature and duration. The Company during the previous year, had analysed its liquidityposition and the recoverability and carrying value of its assets comprising property, plant and equipment, investment properties, right of use assets,investments, advances, trade receivables. Deferred taxes, other financial and non-financial assets etc. Based on current indicators of future economicconditions, the Company expects to recover the carrying amount of these assets. The situation is changing rapidly giving rise to inherent uncertaintyaround the extent and timing of the potential future impact of the COVID 19 pandemic which may be different from that estimated as at the date ofapproval of these unaudited standalone financial results. Due to the nature of the pandemic and non-availability of necessary vaccine / treatment for its
	eradication, the Company will continue to be vigilant on various developments / impacts in the future so as to insulate itself from any material adverseimpact.11. Figures pertaining to previous period(s) / year have been regrouped and rearranged, wherever necessary to conform to the classificationadopted in the current quarter.						For & on behalf of the Board of Directors

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