Resources

IndusInd sets off Rs 928 m against share premium account

https://www.indiantelevision.com/sites/default/files/styles/smartcrop_800x800/public/images/resources-images/2015/12/28/Untitled-1.jpg?itok=2WKE9yJI

MUMBAI: Saddled with bad debts and a "dud" investment on conditional access system (CAS), leading multi system operator IndusInd Media & Communications (IMC) has done a financial restructuring.



IMC has set off the value of set-top boxes and smart cards of Rs 580.6 million against its share premium account. This is part of the Rs 1 billion total investment the company has made towards CAS.



The company has also set off bad debts of Rs 347.77 million against its share premium account as on 31 March, 2004. IMC has an additional debt burden of Rs 220 million.



"We have been having problems of receivables. Besides, the position on CAS was not clear. So we thought it would be a prudent approach to clean up our balance sheet," says a senior official in the company.



IMC also felt substantial marketing efforts and extensive awareness campaigns would be required to push for CAS. For long term interests, STBs needed to be seeded on trial basis or deployed under rental schemes to make them attractive.



IMC has Rs 1134.43 million left in its share premium account as on 31 March, 2004, after making these adjustments. This will be further augmented by an amount of Rs 530.79 million on completion of issue of shares to Kudelski SA.



Last year, IMC entered into an agreement with Kudelski SA, Switzerland for issuing around 3 per cent of its equity for $12 million.

Latest Reads

https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2021/01/05/insurance.jpg?itok=i9OPRH-E
Stuck with Rs. 1 Crore Life Cover? You Need to Know This

Life insurance has become a necessity in life, especially during the COVID19 pandemic. Keeping that in mind, people rush towards the nearest insurance company’s office or look for suitable types of insurance plans online. In any case, if there is one thing that almost every such individual witness...

Resources Education
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/12/30/gambling.jpg?itok=fRL7bDTO
What's the tax for online gambling?

As the deadline for filing income tax returns in India looms closer, many people are rushing to file their ITRs this month.

Resources Education
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/12/22/eye.jpg?itok=_jC-EIm0
How to Make Your Eyeshadow Last All Day

Want to know the secret of making your eye shadow last all day long? Then this blog is for you.

Resources Education
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/12/22/shamoly-khera.jpg?itok=z3-P0-NC
Shamoly Khera’s Bedazzle helps people to master the art of self-confidence

Shamoly Khera a multi-faceted speaker, a TV presenter, producer, public speaker and speaking coach who has made her mark in the Indian media and TV industry.

Resources Education
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/12/13/tt.jpg?itok=iWlnWgjl
Guest column: The manifold benefits of reading

The more that you read, the more things you will know. The more that you learn, the more places you’ll go.” —Dr Seuss. The above quote is so true.

Resources Education
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/19/beard.jpg?itok=q-Xd4f0J
10 Most Stylish Beards From Movies

In the latest years, people tend to take as a lifestyle example actors from different movies they like. Maybe a woman wants to dress like her favourite actress, or a man wants to drive the same car as his favourite race driver from movies. In this article, we’re gonna show you 15 most stylish...

Resources Education
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/03/out.jpg?itok=DrOhcqq8
Outbrain Announces New Strategic Global Partnership with Opera to Bring Native Advertising to Browsers

Outbrain, the world's leading discovery and native advertising platform on the open web, today announced a new partnership with multi-platform web browser Opera. 

Resources Education
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/11/02/edu.jpg?itok=Yh72QCww
The Best Way to Learn Forex Trading

Today, online trading is in vogue. Over 15 million people around the world partake in the activity, and their community is growing. This is hardly surprising, given the sheer profit potential. On Forex, you are free to set your own goals and use your favourite strategies. Every trader has their own...

Resources Education
https://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2020/09/23/ideo.jpg?itok=HUVnpQjn
Top Innovative Video Marketing Trends for 2020

With the COVID-19 pandemic occupying most of 2020, many businesses have had to suffer its dire consequences. Companies have had to shut down, people have lost their jobs, and the economies of countries have gone down by leaps and bounds. With the economy slowly coming back on track, businesses are...

Resources Education

Sign up for our Newsletter

subscribe for latest stories

* indicates required