Airtel 2015 Annual Report Download - page 339

Download and view the complete annual report

Please find page 339 of the 2015 Airtel annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 360

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231
  • 232
  • 233
  • 234
  • 235
  • 236
  • 237
  • 238
  • 239
  • 240
  • 241
  • 242
  • 243
  • 244
  • 245
  • 246
  • 247
  • 248
  • 249
  • 250
  • 251
  • 252
  • 253
  • 254
  • 255
  • 256
  • 257
  • 258
  • 259
  • 260
  • 261
  • 262
  • 263
  • 264
  • 265
  • 266
  • 267
  • 268
  • 269
  • 270
  • 271
  • 272
  • 273
  • 274
  • 275
  • 276
  • 277
  • 278
  • 279
  • 280
  • 281
  • 282
  • 283
  • 284
  • 285
  • 286
  • 287
  • 288
  • 289
  • 290
  • 291
  • 292
  • 293
  • 294
  • 295
  • 296
  • 297
  • 298
  • 299
  • 300
  • 301
  • 302
  • 303
  • 304
  • 305
  • 306
  • 307
  • 308
  • 309
  • 310
  • 311
  • 312
  • 313
  • 314
  • 315
  • 316
  • 317
  • 318
  • 319
  • 320
  • 321
  • 322
  • 323
  • 324
  • 325
  • 326
  • 327
  • 328
  • 329
  • 330
  • 331
  • 332
  • 333
  • 334
  • 335
  • 336
  • 337
  • 338
  • 339
  • 340
  • 341
  • 342
  • 343
  • 344
  • 345
  • 346
  • 347
  • 348
  • 349
  • 350
  • 351
  • 352
  • 353
  • 354
  • 355
  • 356
  • 357
  • 358
  • 359
  • 360

Bharti Airtel Limited
NotesWRFRQVROLGDWHGnjQDQFLDOVWDWHPHQWV
337
Consolidated Financial Statements (IFRS)
02-39 | Corporate Overview Financial Statements40-125 | Statutory Reports
126-355
WKHUHRQ $FFRUGLQJO\ WKH OLFHQVH IHH RQ VXFK
IRUHLJQ H[FKDQJH JDLQ KDV QRW EHHQ SURYLGHG LQ
WKHVHnjQDQFLDOVWDWHPHQWV$OVRGXHWRDPELJXLW\
RILQWHUSUHWDWLRQRIŠIRUHLJQH[FKDQJHGLNjHUHQFHVš
WKH OLFHQVH IHH LPSDFW RQ VXFK H[FKDQJH
GLNjHUHQFHV LV QRW TXDQWLnjDEOH DQG KDV QRW EHHQ
included in the table above. Further, as per the
2UGHUGDWHG-XQHRIWKH+RQšEOH.HUDOD
+LJK&RXUW VWD\KDVEHHQREWDLQHGZKHUHLQWKH
OLFHQVHH FDQ FRQWLQXH PDNLQJ WKH SD\PHQW DV
ZDVEHLQJGRQHWKURXJKRXWWKHSHULRGRIOLFHQVH
on telecom activities. Further as stated in point
LLLDERYH7'6$7KDVSURQRXQFHGLWVMXGJHPHQW
RQ$SULOZKHUHLQLWKDVVWDWHGWKDWDQ\
JDLQ RU ORVV GXH WR IRUHLJQ H[FKDQJH ǍXFWXDWLRQ
GRHVQRWKDYHDQ\EHDULQJRQWKHOLFHQVHIHHVDQG
GLUHFWLQJ'R7WRUHZRUNDQGLVVXHIUHVKGHPDQGV
WRWKHRSHUDWRUV7KHQH[WGDWHRIKHDULQJLVnj[HG
IRU-XQHDW.HUDOD+LJK&RXUW
YL 2Q-DQXDU\'R7LVVXHGDGHPDQGRQWKH
&RPSDQ\DQGRQHRILWVVXEVLGLDULHVIRU`
0QWRZDUGVOHY\RIRQHWLPHVSHFWUXPFKDUJH7KH
GHPDQGLQFOXGHVDUHWURVSHFWLYHFKDUJHRI`
0Q IRU KROGLQJ *60 6SHFWUXP EH\RQG  0K]
IRUWKHSHULRGIURP-XO\WR'HFHPEHU
DQGDOVRDSURVSHFWLYHFKDUJHRI`
0QIRU*60VSHFWUXPKHOGEH\RQG0K]IRUWKH
SHULRGIURP-DQXDU\WLOOWKHH[SLU\RIWKH
LQLWLDOWHUPVRIWKHUHVSHFWLYHOLFHQVHV
  ,QWKHRSLQLRQRIWKH&RPSDQ\LQWHUDOLDWKHDERYH
GHPDQGDPRXQWVWRDOWHUDWLRQRInjQDQFLDOWHUPVRI
WKHOLFHQVHVLVVXHGLQWKHSDVW%DVHGRQDSHWLWLRQ
njOHG E\ WKH &RPSDQ\ WKH +RQšEOH +LJK &RXUW RI
%RPED\ YLGH LWV RUGHU GDWHG -DQXDU\  
KDVGLUHFWHGWKH'R7WRUHVSRQGDQGQRWWRWDNH
DQ\FRHUFLYHDFWLRQXQWLOWKHQH[WGDWHRIKHDULQJ
7KH 'R7 KDV njOHG LWV UHSO\ DQG WKH QH[W GDWH RI
KHDULQJLVDZDLWHG
YLL 7KH 'HSDUWPHQW RI 7HOHFRPPXQLFDWLRQV 'R7
KDG LVVXHG QRWLFHV WR WKH &RPSDQ\ DV ZHOO DV
YDULRXV RWKHU 7HOHFRP 6HUYLFH 3URYLGHUV WR VWRS
SURYLVLRQRIVHUYLFHVXQGHU*,QWUD&LUFOH5RDPLQJ
,&5 DUUDQJHPHQWV LQ WKH VHUYLFH DUHDV ZKHUH
VXFKVHUYLFHSURYLGHUVKDGQRWEHHQDOORFDWHG*
6SHFWUXP'R7 DOVR OHYLHG DnjQDQFLDOSHQDOW\RI
`0Q7KH&RPSDQ\FRQWHVWHGWKHQRWLFHV
DQGXSRQYDULRXVURXQGVRIOLWLJDWLRQVXOWLPDWHO\
WKH 7'6$7 YLGH LWV MXGJHPHQW GDWHG $SULO 
KHOG*,&5DUUDQJHPHQWVWREHFRPSHWHQW
DQG FRPSOLDQW ZLWK WKH OLFHQVLQJ FRQGLWLRQV DQG
TXDVKHG WKH QRWLFH LPSRVLQJ SHQDOW\ 7KH 'R7
KDV FKDOOHQJHG WKH RUGHU RI 7'6$7 LQ DQ DSSHDO
njOHGEHIRUHWKH+RQšEOH6XSUHPH&RXUWZKLFKKDV
EHHQDGPLWWHG+RZHYHU+RQšEOH6XSUHPH&RXUW
KDVUHIXVHGWRJUDQWDQ\LQWHULPRUGHUGXULQJWKH
SHQGHQF\RIWKHDSSHDO7KHFDVHLV\HWWREHOLVWHG
IRUKHDULQJLQWKH+RQšEOH6XSUHPH&RXUW
YLLL 7KH &RPSDQ\KDV QRW EHHQDEOHWRPHHW LWVUROO
RXWREOLJDWLRQVIXOO\GXHWRFHUWDLQQRQFRQWUROODEOH
IDFWRUV OLNH 7HOHFRPPXQLFDWLRQ (QJLQHHULQJ
Center testing, Standing Advisory Committee
RI 5DGLR )UHTXHQF\ $OORFDWLRQV FOHDUDQFH QRQ
DYDLODELOLW\ RI VSHFWUXP HWF 7KH &RPSDQ\ KDV
UHFHLYHGVKRZFDXVHQRWLFHVIURP'R7IRURILWV
FLUFOHVIRUQRQIXOnjOOPHQWRILWVUROORXWREOLJDWLRQV
DQGWKHVHKDYHEHHQUHSOLHGWR'R7KDVUHYLHZHG
and revised the criteria and there has been no
IXUWKHUGHYHORSPHQWRQWKLVPDWWHUVLQFHWKHQ
J $LUWHO1HWZRUNV/LPLWHGŞ2ZQHUVKLS
$LUWHO 1HWZRUNV /LPLWHG ţ$LUWHO 1HWZRUNVŤ IRUPHUO\
NQRZQDV&HOWHO1LJHULD/LPLWHGZDVLQFRUSRUDWHGRQ
'HFHPEHUDV(FRQHW:LUHOHVV1LJHULD/LPLWHG
DQGLVDVXEVLGLDU\RI%KDUWL$LUWHO1LJHULD%9%$1%9
IRUPHUO\&HOWHO1LJHULD%9ZKLFKLQWXUQLVDQLQGLUHFW
VXEVLGLDU\ RI %KDUWL $LUWHO ,QWHUQDWLRQDO 1HWKHUODQGV
%9DVXEVLGLDU\RI%KDUWL$LUWHO/LPLWHG
 $LUWHO1HWZRUNVDQGRU%$1%9DUHGHIHQGDQWVLQFDVHV
njOHG E\ (FRQHW :LUHOHVV /LPLWHG (:/ ZKHUH (:/
LV FODLPLQJ DPRQJVW RWKHUV D EUHDFK RI LWV DOOHJHG
SUHHPSWLRQ ULJKWV DJDLQVW HUVWZKLOH DQG FXUUHQW
shareholders.
 8QGHUWKHWUDQVDFWLRQWRDFTXLUHFRQWUROOLQJVWDNH
LQ$LUWHO1HWZRUNV/LPLWHGLQWKHHUVWZKLOHVHOOLQJ
VKDUHKROGHUVZHUHREOLJHGXQGHUWKHSUHHPSWLRQULJKW
provision contained in the shareholders’ agreement
GDWHG$SULOWKHţ6KDUHKROGHUV$JUHHPHQWŤ
WR njUVW RNjHU WKH VKDUHV WR HDFK RWKHU EHIRUH RNjHULQJ
WKHVKDUHVWRDWKLUGSDUW\7KHVHOOHUVZDLYHGWKHSUH
emption rights amongst themselves and the shares
ZHUH RNjHUHG WR (:/ GHVSLWH WKH IDFW WKDW (:/šV
VWDWXVDVDVKDUHKROGHULWVHOIZDVLQGLVSXWH+RZHYHU
WKH RNjHU WR (:/ ODSVHG VLQFH (:/ GLG QRW PHHW LWV
SD\PHQW REOLJDWLRQV WR SD\ IRU WKH VKDUHV ZLWKLQ WKH
 GD\V GHDGOLQH DV VSHFLnjHG LQ WKH VKDUHKROGHUVš
DJUHHPHQW DQG WKH VKDUHV ZHUH DFTXLUHG E\ &HOWHO
1LJHULD %9 QRZ %KDUWL $LUWHO 1LJHULD %9 LQ 
(:/KDVLQWHUDOLDFRPPHQFHGDUELWUDOSURFHHGLQJVLQ
1LJHULDFRQWHVWLQJWKHDFTXLVLWLRQ%$1%9ZKLFKLVWKH
FXUUHQW RZQHU RI DSSUR[LPDWHO\  LQFUHDVHG
IURPWRLQ0DUFKRIWKHHTXLW\
LQ $LUWHO 1HWZRUNV /LPLWHG KDV EHHQ GHIHQGLQJ WKHVH
FDVHVDQGWKHDUELWUDWLRQVLQFHLWZDVFRPPHQFHG
 2Q'HFHPEHUWKH7ULEXQDOLQWKH$UELWUDWLRQ
FRPPHQFHGE\(:/LVVXHGD3DUWLDO)LQDO$ZDUGVWDWLQJ
amongst others, that the Shareholders Agreement had
EHHQ EUHDFKHG E\ WKH HUVWZKLOH VKDUHKROGHUV DQG
DFFRUGLQJO\WKHDFTXLVLWLRQZDVQXOODQGYRLG+RZHYHU
WKH 7ULEXQDO KDV UHMHFWHG (:/šV FODLP IRU UHYHUVDO RI
WKH  WUDQVDFWLRQ ,QVWHDG WKH 7ULEXQDO RUGHUHG D
damages hearing.
 2Q)HEUXDU\%$1%9njOHGDQDSSOLFDWLRQEHIRUH
WKH/DJRV6WDWH+LJK&RXUWWRVHWDVLGHWKH3DUWLDO)LQDO