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Notes to Accounts of Aplab Ltd.

Mar 31, 2015

1. Balance with schedule Bank include Rs.1,47,08,996 (P.Y. Rs.1,61,18,604) representing margin money for letter of credit and bank guarantees issued

2. The Companies Act 2013 mandates that companies transfer dividend that has been unclaimed for period of seven years from unpaid dividend account to Investor Education & Protection Fund (IEPF),. Accordingly if dividend is unclaimed for a period of seven years, it will be transferred to IEPF.

3. Deposits includes Rs.1,41,08,996 with original maturity of 12 months and more.

4. None of the items in raw material individually accounts for 10% or more of the total value of material consumed. In the absence of verifiable records the Auditors have relied upon the management's representation to this behalf.

6. Contingent Liabilities:

Sr. Particulars 2014-15 2013-14 No. Rs. Rs.

1. Disputed Tax/Duty demands not 9,89,86,032 10,33,26,536 provided for

2. Bank guarantees given on behalf of Company to third parties. 7,31,96,352 5,79,57,810

7. Employee Benefit:-

The Company provides benefits to its employees under the Leave Encashment pay plan which is a non-contributory defined benefit plan. The employees of the Company during the tenure of their employment are entitled to receive leave encashment in excess of 60 days leave to the credit of their account as on 1st January every year.

The benefit of Gratuity is funded defined benefit plan. For this purpose the Company has obtained a qualifying insurance policy from LIC of India, and the same is not funded by the Company.

8. Segment Reporting (Accounting Standard - AS 17):

The Company is engaged in business / operations of manufacture, sale and servicing of professional electronic equipment. Though the Company has a range of products, they all fall within the single segment of electronic equipment. It is a considered view of the management that the Company has no reportable segments envisaged in the Accounting Standard (AS17) "Segment Reporting"issued by the Institute of Chartered Accountants of India.

9. Related Party Disclosures (Accounting Standard AS 18):

List of Related Parties and Relationship

Subsidiary Company :

Sprylogic Technologies Ltd

Joint Venture:

Arabian Power Electronics Company (Joint Venture business in Saudi Arabia)

Associates:

(enterprises where Aplab Limited and its subsidiaries have 20% holding or, investing parties who have over 20% holding in Aplab Limited)

Zee Entertainment Enterprises Ltd (Formerly Zee Telefilms Ltd)

Key Management Personnel:

Mr. P.S. Deodhar Chairman & Managing Director

Mr. Nishith Deodhar Former Managing Director

Mrs. Amrita Deodhar Director

Mr. Rajesh Deherkar Company Secretary and Finance Controller

Relatives of Key Management Personnel:

Mrs. Aruna Narayanan

Enterprises over which key management personnel and their relatives are able to exercise significant influence

Sr. Name of the Party No.

1 Deodhar Electro Design Pvt Ltd

2 Intel Exports Corporation

3 Telemetric Equipments Pvt.Ltd.

4 Print Quick Private Limited

5 Origin Instrumentation Private Limited

6 Contech Soft-Tech Solution Pvt. Ltd

7 Telematra Systems Pvt. Ltd.

8 Mitramax Energy Pvt. Ltd.

10. Taxes on Income (Accounting Standard - AS 22):

(i) No provision is made for current tax in view of the business loss during current year and unabsorbed business loss of previous year

(ii) Deferred Tax Liability / (Asset) at the year end comprises timing difference on account of:

* Deferred tax asset on carried forward unabsorbed business loss has been considered to the extent of deferred tax liability for the year. Deferred tax asset on the balance of such carried forward losses has not been recognized in the absence of virtual certainty of future taxable income.

11. Previous year figures have been re-grouped and re-classified wherever necessary


Mar 31, 2014

1. Contingent Liabilities:

No. Particulars 2013 - 14 2012 - 13

1. Disputed Tax / Duty Demands 10,33,26,536 8,68,74,453 Not Provided For

2. Corporate Guarantees given to Nil 41,90,030 Bank on account of Subsidiary / Other Companies

3. Bank Guarantees given on behalf 5,79,57,810 6,86,87,812 of Company to third parties.

2. Employee Benefit:-

The Company provides benefits to its employees under the Leave Encashment pay plan which is a non-contributory defined benefit plan. The employees of the Company during the tenure of their employment are entitled to receive leave encashment in excess of 60 days leave to the credit of their account as on 1st January every year.

The benefit of Gratuity is funded defined benefit plan. For this purpose the Company has obtained a qualifying insurance policy from LIC of India, and the same is partially funded by the Company.

3 Segment Reporting (Accounting Standard - AS 17):

The Company is engaged in business / operations of manufacture, sale and servicing of professional electronic equipment. Though the Company has a range of products, they all fall within the single segment of electronic equipment. It is a considered view of the management that the Company has no reportable segments envisaged in the Accounting Standard (AS17) ''Segment Reporting''issued by the Institute of Chartered Accountants of India.


Mar 31, 2013

1. Expenditure on Research & Development (as certified by the Management):

The Company is entitled to benefit u/s 35(2AB) of the Income Tax Act, 1961 as per renewal dated 19.05.2010 received from Ministry of Science and Technology, Government of India, DSIR, New Delhi, valid for the period 1.4.2010 to 31.03.2013. Renewal application filed on 15th February, 2013 vide reference no.R&D/2013/609

2. None of the items in Raw material individually accounts for 10% or more of the total value of material consumed. In the absence of verifiable records the Auditors have relied upon the management''s representation to this behalf.

3. Segment Reporting (Accounting Standard -AS 17):

The Company is engaged in business / operations of manufacture, sale and servicing of professional electronic equipment. Though the Company has a range of products, they all fall within the single segment of electronic equipment. It is a considered view of the management that the Company has no reportable segments envisaged in the Accounting Standard (AS17) "Segment Reporting"issued by the Institute of Chartered Accountants of India.

4. Related Party Disclosures (Accounting Standard AS 18):

List of Related Parties and Relationship Subsidiary Companies:

Intel Instruments and Systems Limited (Merged with Holding Company w.e.f.31st March 2013) Sprylogic Technologies Ltd

Joint Venture

Arabian Power Electronics Company. (Joint Venture business in Saudi Arabia)

Associates (enterprises where Aplab Limited and its subsidiaries have 20% holding or investing parties who have over 20% holding in Aplab Limited)

Zee Entertainment Enterprises Ltd (Formerly Zee Telefilms Ltd)

Key Management Personnel:

Mr. P.S. Deodhar Chairman

Mr. Nishith Deodhar Managing Director

Mrs.Neelam K Kumar Executive Director (Resigned w.e.f. 3" May,2012)

Mrs. Amrita Deodhar Director

Relatives of Key Management Personnel: Mrs. Aruna Narayanan

5. Taxes on Income (Accounting Standard -AS 22):

(i) No provision is made for current tax in view of the unabsorbed business loss and unabsorbed depreciation

(ii) Deferred Tax Liability / (Asset) at the year end comprises timing difference on account of:

6. As per the requirement of Revised Schedule VI, the company has reclassified its assets and liabilities into current and non- current based on the normal operating cycle, as determined by the management. Previous year figures have been accordingly re-grouped and re-classified.


Mar 31, 2010

1. i) The Company recognises its Gratuity liability on the basis of contribution to the LIC Group Gratuity Scheme. During the year, LIC informed the Company that based on its actuarial valuation as of March 31, 2010 a contribution of Rs.3,54.37 lacs is required to make the Scheme fully funded. Gratuity expenditure recognized includes Rs.22.51 lacs being the contribution for financial year 2009-10.

ii) Employee benefit:-

The Company provides benefits to its employees under the Leave Encashment pay plan which is a non-contributory defined benefit plan. The employees of the Company during the tenure of their employment are entitled to receive leave encashment in excess of 60 days leave to the credit of their account as on 1st January every year.

The benefit of Gratuity is funded defined benefit plan. For this purpose the Company has obtained a qualifying insurance policy from LIC of India.

2. Payments to Directors

Approval of Central Government has been received in respect of Mr.P.S.Deodhar upto 30.09.2009. ii) Mr.Nishith P.Deodhar as Executive Director up to 31.10.2009. Mr.S.A.Joshi and Mrs N.K.Kumar as Executive Direct for the period up to 31.07.2008. The approval of Central Government is pending in respect of i) Mr.Nishith P.Doedhar as Managing Director for the period of 3 years from 1.11.2009 and ii) Mr.SAJoshi and Mrs. N.K.Kumar for the period of 3 years from 1.8.2008. The appointment / reappointment and remuneration including revision/ amendment therein where applicable has been approved in the Annual General Meeting held on 25.06.2009 and by Shareholders by special resolution approved vide Postal ballot result of which were announced on 08.01.2010 and 30.04.2010. The remuneration paid / provided for this period is within the limits of schedule XIII to the Companies Act, 1956

3. Payment to Auditors:

Audit Fees Rs.7.50 Lacs(Rs.7.50 Lacs) ,Tax Audit Fees Rs.1.10 Lacs ( Rs.1.10 Lacs) Management Services Rs.1.35 Lacs(Rs.1.35 Lacs) Limited Review and Corporate Governance and other Certification Fees Rs. 4.75 Lacs (Rs. 2.10 Lacs), Expenses reimbursed and Services tax Rs. 2.72 Lacs (Rs 2.59 Lacs)

4. Investment in shares of Intel Instruments & Systems Limited, a subsidiary company Rs.2,25.00 Lacs (Rs.2,25.00 Lacs) and Rs. 2,46.76 Lacs (Rs. 3,38.66 Lacs) other dues from that Company are considered good in view of the strategic nature of this investment and the subsidiarys ongoing and potential business operations.

5. Loans and Advances in Schedule 7 include:

Rs. 10.71 Lacs ( Rs.6.16 Lacs) as Sales Tax , in respect of which matters are pending with the appellate authorities and, Rs.14.70 Lacs (Rs.14.70 Lacs) towards compensation paid to MTNL, in respect of which the Company has filed a suit for recovery.

6. The Company is entitled to benefit available u/s35(2AB) of the Income Tax Act, 1961 as per renewal dated 31/05/07 received from Ministry of Science and Technology, Govt, of India, DSIR, New Delhi, valid for 01.04.2007 to 31.03.10 .

7. Segment Reporting (Accounting Standard -AS 17)

The Company is engaged in business / operations of manufacture, sale and servicing of professional electronic equipment. Though the Company has a range of products, they all fall within the single segment of electronic equipment. It is a considered view of the management that the Company has no reportable segments envisaged in the Accounting Standard (AS17) "Segment Reporting" issued by the Institute of Chartered Accountants of India.

8. Related Party Disclosures (Accounting Standard AS 18) List of Related Parties and Relationship

Subsidiary Companies :

Intel Instruments and Systems Limited Sprylogic Technologies Ltd

Associates (enterprises where Aplab Limited and its subsidiaries have 20% holding or, investing parties who have over 20% holding in Aplab Limited)

Zee Entertainment Enterprises Ltd. (Formerly Zee Telefilms Limited)

Key Management Personnel:

Mr. P.S. Deodhar Chairman

Mr. Nishith Deodhar Managing Director

Mr. S.A.Joshi Executive Director

Mrs.Neelam K Kumar Executive Director

Relatives of Key Management Personnel:

Mrs. A. P. Deodhar

Mrs. Aruna Narayanan

Mr Arun Deodhar

Enterprises over which key management personnel and their relatives are able to exercise significant influence

Sr.No. Name of the Party

1 Deodhar Electro Design Pvt Ltd

2 TTL Technologies Private Limited

3 Intel Exports Corporation

4 Telemetries Incorporated

5 Print Quick Private Limited

6 Origin Instrumentation Private Limited

7 Contech Soft-Tech Solution Pvt. Ltd

8 Telemetra Systems Pvt. Ltd

9 A.N. Associates

10 Dakshin Media Gaming Solutions Pvt. Ltd.

11 Aalay Interiors

12 Digital Media Convergence Ltd

9. Additional information pursuant to paragraphs 3, 4C and, 4D of part II of Schedule VI to the Companies Act, 1956.

Information regarding capacity, stocks, production and sale (as certified by Management)

I) Licensed Capacity: Not applicable

ii) Installed Capacity:

Production of the items manufactured by the Company does not require special machinery. Production depends largely upon designing skills adequate space and competent staff. The term "installed capacity" does not have relevance in relation to the items manufactured by the Company

 
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