| 1.COMPANY OVERVIEW:
Megri Soft Limited is a public and profitable company and is among
leading information technology consulting, services and Web Solutions
organization that envisioned and pioneered the adoption of the flexible
global business practices that today enable companies to operate more
efficiently and produce more value. Megri Soft achieved this by
creating and perfecting the global expertise and delivering high
quality, high value services and products in IT consulting and Web
Development which have helped reshape business and deliver competitive
advantage. Most of Megri Soft's customers reward the company's
reliability, passion, creativity and unique ability to handle the
broadest range of their Web Services needs by continually extending and
deepening their partnerships with Megrisoft.
The Company is a public Limited Company Incorporated and domiciled in
India and has its registered office at Chandigarh, India. The company
has its primary listing on BSE Limited.
2. Terms/Rights attached to equiy shares
The company has only one class of equity shares having a par value of
Rs. 10/- per share. Each holder of equity shares is entitled to one
vote per share. The company declares and pay dividend in Indian rupees.
In the event of liquidation, the equity shareholders are eligible to
receive the remaining assets of the company in proportion to their
shareholding.
Note 3
Current Assets, Loans & Advances:
In the opinion of the Board, current assets, loan and advances have a
value at least equal to the amount shown in the balance sheet, if
realized in the ordinary course of the business. The provisions for all
known liabilities are made and not in excess of the amount considered
reasonably necessary.
Note 4 Impairment
In the view of management no impairment conditions existed on 31st
March, 2015, Hence, no provision is required in the accounts for the
year under review.
Note 5 Sitting Fees:
No Sitting Fees has been paid to non-executive directors during the
period under review.
Note 6
Contingent Liabilities
There are no contingent liabilities as on the date of financial
statements so no disclosures are required.
Note 7
Foreign Exchange Earnings
The particulars regarding foreign exchange earnings during the year of
Rs. 334.88 Lacs only (Previous Year Rs. 423.48 Lacs) and expenditure in
foreign currency is Rs. 49.28 Lacs only (Previous year 44.85 Lacs).
Note 8
Foreign Travelling Expenses
Rs. 6.88 Lacs was incurred on foreign traveling during the financial
year under review as compared to Rs. 7.79 Lacs during the preceding
financial year. Out of 6.88 Lacs 3.79 lacs was incurred on foreign
travelling expenses of director.
Note 9
Auditor's Remuneration
Auditors remuneration for the financial year 2014-15 is Rs.30000
(Previous Year Rs. 30000)
Note 10
Related Party Disclosures: March 31, 2015
A) Names of related parties and description of relationship as
identified and certified by the Company as per the requirements of
Accounting Standard - 18 specified under Section 133 of the Companies
Act, 2013 read with Rule 7 of the Companies (Accounts) Rules, 2014 and
where control exists for the year ended March 31, 2015:
Sr.No. Name of Related Party Relationship
1. Mr. Mohnesh Kohli Promoter Director & Person
having significant influence
2. Ms. Neena Kohli
3. Ms. Aprajita Kohli (Director)
Relative of person having
significant influence
4. Mr. Mahesh Kohli
5. Mr. Austin Kohli
6. Mr. M.L. Kohli
7. Mr.. Rajnesh Sharma Key Managerial Personnel
8. MS. Shaveta Sharma Relative of Key Managerial
Personnel
Note 11
Previous Year Figures Regrouping/Reclassification
Previous year figures have been regrouped/reclassified to conform to
the current year classification.
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