| 1. The company has only one class of shares referred to as equity
shares having par value of Rs.10/- each. Each holder of equity share is
entitled to one vote per share. In the event of liquidation of the
company, the holders of equity shares will be entitled to receive the
remaining assets of the company after distribution of all preferential
amounts. The distribution will be in proportion of the number of equity
shares held by the shareholders.
2. None of the above shares are reserved for issue under
options/contract/commitments for sale of shares or disinvestment.
(v) Shares alloted, as fully paid up, pursuant to contracts without
payment being effected in cash / bonus shares / bought back / forfeited
/ call unpaid in previous five years-NIL.
3. Contingent Liability (Amount in Rs.)
AS AT AS AT
31.03.2015 31.03.2014
Claims against the Company not acknowledged
as debts: Income Tax matters disputed
in appeal 548,203 548,203
4. Related Party Disclosure:
Description of relationship Names of related parties
Key Management Personnel (KMP) Mr. Krishan Kumar Rathi - Director
Mr. Rajesh Nawathe - Director
Mrs. Subrata Paul - Director
5. Disclosure as required by Accounting Standard - AS 17 "Segment
Reporting", issued by the ICAI
The business activity of the company consists of one reportable segment
only i.e. software activities which includes Development of Software.
6. Provision for deferred tax
No deferrd tax asset is accounted in books on the brought forward
losses as there is no virtual certainity supported by convincing
evidence that sufficient future taxable income will be available
against which such deferred tax assets can be realised.
7. Details of dues to micro and small enterprises as defined under the
MSMED Act, 2006
The Company has not received any intimation from "suppliers" regarding
their status under the Micro, Small and Medium Enterprises Development
Act,2006 and hence disclosures, if any relating to amounts unpaid as at
the year end together with interest paid/payable as required under the
said Act have not been made.
8. Pursuant to Companies Act, 2013('the Act') being effective from 1st
April 2014, the company has revised depreciation rates on tangible fixed
assets as per the useful life specified in Part 'C' of schedue II of the
Act. As a result of this change, for assets whose useful life is already
exhausted as on 1st April, 2014, carrying amount of Rs. 39,198/- has
been adjusted in Reserves and Surplus in accordance with the
requirements of schedule II of the Act.
9. Previous year figures have been regrouped / rearranged wherever
necessary to conform to the current years' presentation.
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