Mar 31, 2015
1 Nature of operations
B2B Software Technologies is one of the most prominent and competent
Microsoft Dynamics Navision Solution Center of Microsoft Dynamics and
the number one partner in undivided Andhra Pradesh, India. The team of
Microsoft Dynamics NAV 2009 certified consultants has carried out
successful implementations across various industry segments. Our
customers include end-user companies as well as other solution centers
in Europe, USA, Australia and Asian markets, for whom we undertake the
off-shore / onsite solution development There are no taxable profits for
the current year after availing the brought forward losses as per the
provisions of The Income tax act, 1961. Thus Provision for income tax
has not been made for the current year.
2. The Company has received Rs.12,92,636/- (equivalent to Euros
20,000) during the financial year 2009-10 towards advance for the sale
of 80% shareholding in its wholly owned subsidiary B2B Technologies
Kassel Gmbh.The shares have not been transferred pending approval from
RBI. The company has made a provision of Rs. 39,37,554 towards loss on
sale of investment and a provision for Rs.13,07,549 for dimunition in
the value of investment.
3. The Wholly Owned Subsidiaries of the company at Malaysia, B2B
Infotech SDN BHD and at Singapore, B2B Infotech Pte Ltd are under
liquidation.The Company has made a provision for dimunition in the
value of investment to the extent of 100% of the carrying amount.
4. The Company is primarly engaged in Information Technology and
related services. There are no other reportable segments in terms of
Accounting Standard 17 on Segment Reporting issued by the The Institute
of Chartered Accountants of India.
5. Deferred tax asset/liability is not determined and accounted as
per Accounting Standard-22 issued by ICAI as the related benefits on
tax losses are considered
6. Employee Benefits
During the year the company has made a provision of Rs.884,454/- for
gratu ity based on Actuarial Valuation. The company has not created any
assets to meet this obligation. Disclosure as required by Accounting
Standard - 15 ,Employee Benefits,
Mar 31, 2014
Not Available.
Mar 31, 2013
1. There are no taxable profits for the current year after availing
the brought forward losses as per the provisions of The Income tax act,
1961. Thus Provision for income tax has not been made for the current
year.
2. The Company has purchased Motor Car on Hire Purchase basis from
Kotak Mahindra in the year 2008. The same has been secured against the
hypothecation and persona] guarantee of the directors.
3. The Company has received Rs. 12,92,636/- (equivalent to Euros
20,000) during the financial year 2009-10 towards advance for the sale
of 80% shareholding in its wholly owned subsidiary B2B Technologies
Kassel Gmbh.The shares have not been transferred pending approval from
RBI. The company has made a provision of Rs. 39,37,554 towards loss on
sale of investment and a provision for Rs.13,07,549 for dimunition in
the value of investment.
4. The Wholly Owned Subsidiaries of the company at Malaysia, B2B
Infotech SDN BHDand at Singapore, B2B Infotech Pte Ltd are under
liquidation.The Company has made a provisionfor dimunition in the value
of investment to the extent of 100% of the carrying amount.
5. The Company is primarly engaged in Information Technology and
related services. There are no other reportable segments in terms of
Accounting Standard 17 on Segment Reporting issued by the The Institute
of Chartered Accountants of India.
6. Employee Benefits
During the year the company has made a provision of Rs.12,67,083/-for
gratuity based on Actuarial Valuation. The company has not created any
assets to meet this obligation. Disclosure as required by Accounting
Standard -15 Employee Benefits''
7. Deferred tax asset/liability is not determined and accounted as per
Accounting Standard-22 issued by ICAI as the related benefits on tax
losses are considered virtually uncertain.
8 Nature of operations
B2B Software Technologies is one of the most prominent and competent
Microsoft Dynamics Navision Solution Center of Microsoft Dynamics and
the number one partner in Andhra Pradesh, India. The team of Microsoft
Dynamics NAV 2009 certified consultants has carried out successful
implementations across various industry segments. Our customers include
end-user companies as well as other solution centers in Europe, USA,
Australia and Asian markets, for whom we undertake the off-shore /
onsite solution development
Mar 31, 2010
I. The Company changed its business and its name in the year 1999-2000
and changed its object to become a software company from a Non-Banking
Finance Company (NBFC). Loans amounting to Rs. 62,966,472 was extended
to related companies, when the company was a NBFC. The loan extended is
neither secured nor guaranteed The Company has not provided interest on
loan outstanding during the year as there exists uncertainty as to the
recoverability of the Principal and Interest. In the current year the
company has not received any amount either in the form of Principal or
in the form of Interest from the said related party. The amount
outstanding as it 31 st March, 2010 is Rs. 49,103,406 (Previous Year
Rs. 49,103,406)
II. Taxation
Provision for income tax has not been made for the current year since
there is no taxable profits further The benefit of tax losses has not
been brought to account as related benefits are not considecso
virtually certain. Hence the value of deferred tax is not determined
and accounted as per the provisions of Accounting Sandard 22 on
Accounting for taxes on Income, issued by The Institute of Chartered
Accountants of India.
III The Company has purchased Motor Car on Hire Purchase basis from Kotak
Mahindra in the year 2008. The same has been secured against the
hypothecate and personal guarantee of the directors.
IV. The Company has received Rs. 12,92,636/-equivalent to Euros 20,000
towards advance for the sale of 80% shareholding in its wholly owned
subsidiary B3 Software Technologies Kassel Gmbh.The shares have not
been transferred pending approval from RBI. The company has made a
provision of Rs. 39,37,5(4 towards loss on sale of investment and a
provision for Rs,13,07,549 for dimunition in the value of investment.
V. The Wholly Owned Subsidiaries of the company at Malaysia, B2B
Infotech SDN BHD and at Singapore, B2B Infotech Pte Ltd are under
liquidation.The Ompany has made a provision for dimunition in the value
of investment to the extent of 100% of the carrying amount.
VI. The Company is primarly engaged in Information Technology and
related services. There are no other reportable segments in terms of
Accounting Standard 17 on Segment Reporting issued by the The Institute
of Chartered Accountants of India.
VII. Previous year figures have been regrouped to conform with the
current year presentation.