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Notes to Accounts of Crazy Infotech Ltd.

Mar 31, 2014

Note 1: Corporate Information

Crazy Infotech is a limited company incorporated in India under the provision of the Companies Act, 1956 engaged in the sale of computers and various computer accessories and components, provides Software solutions, sells software products and is also involved in IT Education and Training.

Note 2 - Additional information to the financial statements

a) Contingent Liabilities : Rs. NIL

b) Expenditure in Foreign Currencies: Rs. NIL

c) Earnings in Foreign Exchange: Rs. NIL

d) Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006

The company does not have specific information regarding whether any of its sundry creditors fall under the category of Micro, Small and Medium Enterprises, as defined in the Micro, Small, Medium Enterprises Development Act, 2006 (MSMED Act). Therefore, no additional information as required under MSMED Act has been provided. However, the Company continues to take efforts to obtain relevant information from its Sundry Creditors in this regard.

e) Balance reflected under Debtors is subject to confirmation.

f) Previous year figures have been regrouped / reclassified wherever necessary to correspond with the current year classification / disclosure.

3. Deferred Tax:

During the year, the company has considered accounting for deferred tax in accordance with the Accounting Standard - 22 "Accounting for taxes on income" issued by the Institute of Chartered Accountants of India.

As at the year end date the company has a Net Deferred tax Asset of Rs.5,96,077/- representing timing difference arising out of depreciation for the current year.


Mar 31, 2013

Note 1 : Corporate Information

Crazy Infotech is a limited company incorporated in India under the provision of the Companies Act, 1956 engaged in the sale of computers and various computer accessories and components, provides Software solutions, sells software products and is also involved in IT Education and Training.

a) Contingent Liabilities : Rs. NIL

b) Expenditure in Foreign Currencies: Rs. NIL

c) Earnings in Foreign Exchange: Rs. NIL

d) Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006

The company does not have specific information regarding whether any of its sundry creditors fall under the category of Micro, Small and Medium Enterprises, as defined in the Micro, Small, Medium Enterprises Development Act, 2006 (MSMED Act). Therefore, no additional information as required under MSMED Act has been provided. However, the Company continues to take efforts to obtain relevant information from its Sundry Creditors in this regard.

e) Balance reflected under Debtors, Creditors and Loans & Advances are subject to confirmation.

b) Related Party Disclosures:

Key Management Personnel (KMP):

1) Mr. N. Aravind - Chairman

2) Mrs. A. Anitha – Whole time Director

3) Mr. T. Rajendran – independent Director

4) Mr. K. N. Anand – Chief Executive Officer 5.) Mr. Obula Reddy - Company Secretary

6.) Mr. M. Senthil Kumar – Chief Technology Officer 7.) Mr. Ramesh Rajan – HR Manager

Related Party:

Aanjaay Software Limited

f) Deferred Tax:

During the year, the company has considered accounting for deferred tax in accordance with the Accounting Standard – 22 ''''Accounting for taxes on income'''' issued by the Institute of Chartered Accountants of India.

As at the year end date the company has a Net Deferred tax Asset of Rs.6,94,890/- representing timing difference arising out of depreciation for the current year.

g) Previous year figures have been regrouped / reclassified wherever necessary to correspond with the current year classification / disclosure.


Mar 31, 2012

Note 1: Corporate Information

Crazy Infotech is a limited company incorporated in India under the provision of the Companies Act, 1956 engaged in the sale of computers and various computer accessories and components, provides Software solutions, sells software products and is also involved in IT Education and Training.

Terms/Rights attached to equity shares

The company has only one class of equity shares. Each holder of equity share entitled to one vote per share

Note 21 - Additional information to the financial statements

a) Contingent Liabilities: Rs. NIL

b) Expenditure in Foreign Currencies: Rs. NIL

c) Earnings in Foreign Exchange: Rs. NIL

d) Disclosures required under Section 22 of the Micro, Small and Medium Enterprises Development Act, 2006

The company does not have specific information regarding whether any of its sundry creditors fall under the category of Micro, Small and Medium Enterprises, as defined in the Micro, Small, Medium Enterprises Development Act, 2006 (MSMED Act). Therefore, no additional information as required under MSMED Act has been provided. However, the Company continues to take efforts to obtain relevant information from its Sundry Creditors in this regard.

e) Balance reflected under Debtors, Creditors and Loans & Advances are subject to confirmation.

b) Related Party Disclosures: Key Management Personnel (KMP):

1) Mr. N. Aravind - Chairman

2) Mrs. A. Anitha - Whole time Director

3) Mr. T. Rajendran - Independent Director

4) Mr. K. N. Anand - Chief Executive Officer

5) Mr. Obula Reddy - Company Secretary

6) Mr. M. Senthil Kumar - Chief Technology Officer

7) Mr. Ramesh Rajan - HR Manager

Related Party:

Aanjaay Software Limited

d) Deferred Tax:

During the year, the company has considered accounting for deferred tax in accordance with the Accounting Standard - 22 ''Accounting for taxes on income" issued by the Institute of Chartered Accountants of India.

As at the year end date the company has a Net Deferred tax Liability of Rs.7,64,383/- representing timing difference arising out of depreciation for the current year.

As a matter of prudence, the company has not considered this net deferred tax asset in the books of account.

e) The schedule VI of Company's Act 1956, as amended, has become effective from April 1, 2011, for the preparation of the financial statements. Accordingly previous year figures have been regrouped / reclassified wherever necessary to correspond with the current year classification / disclosure.


Mar 31, 2010

1. Company Operations

The company is engaged in the sale ofcomputers and various computer accessories and components, provides Software solutions, sells software products and is also involved in IT Education and Training.

2. Expenditure in Foreign Currency: NIL

3. Earningsin Foreign Exchange (Realised): NIL

4. Related party disclosures:

Disclosures as required by the Accounting Standard 18 of the Institute of Chartered Accountants of India are given below.

a)Key Management Personnel(KMP)

1) Mr.N.Aravind - Chairman

2) Mrs.A.Anitha - Whole time Director

3) Mr.R.Palaniswamy - Whole time Director

4) Mr.K.N.Anand - Chief Executive Officer

5) Mr.M.SenthilKumar - Chief Technology Officer

6) Mr.RameshRajan - HR Manager

b)List of Related Parties:

i)Enterprises in which the key management personnel/relatives are interested:

Aanjaay Software Limited

5. The Company has not obtained actuarial valuation for providing for gratuity liability in its books of account.

6. Balance reflected under Debtors, Creditors and Loans & Advances are subject to confirmation. Necessary adjustment if any, will be made when the accounts are reconciled and settled.

The company does not have specific information regarding whether any of its sundry creditors fall under the category of Micro, Small and Medium Enterprises, as defined in the Micro, Small, Medium Enterprises Development Act, 2006 (MSMED Act). Therefore, no additional information as required under MSMED Act has been provided. However, the Company continues to take efforts to obtain relevant information from its Sundry Creditors in this regard.

7. Figures of the previous years are regrouped / reclassified to conform to the current year classifications.


Mar 31, 2009

1. Company Operations

The company is engaged in the sale of computers and various computer accessories and components, provides Software solutions, sells software products and is also involved in IT Education and Training.

2. Expenditure in Foreign Currency: NIL

3. Earnings in Foreign Exchange (Realised): NIL

4. Related party disclosures:

Disclosures as required by the Accounting Standard 18 of the Institute of Chartered Accountants of India are given below.

a) Key Management Personnel (KMP)

1) Mr. N.Aravind-Chairman

2) Mr. GyanchandShadjia Director

3 Mrs. A. Anitha Whole time Director

4 Mr. R. Palaniswamy Director

5 Mr. K. N.Anand Chief Executive Officer

6) Mr. KShivaraj Chief Technology Officer

B) List of Related Parties:

i) Enterprises in which the key management personnel/relatives are interested:

Aanjaay Software Limited

ii) Subsidiary Company

Animantz Creative Animators Private Limited (100% subsidiary)

5. The Company has not obtained actuarial valuation for providing for gratuity liability in its books of account.

6. Balance reflected under Debtors, Creditors and Loans &Advances are subject to confirmation. Necessary adjustment if any will be made when the accounts are reconciled and settled.

The company does not have specific information regarding whether any of its sundry creditors fall under the category of Micro, Small and Medium Enterprises, as defined in the Micro, Small, Medium Enterprises Development Act, 2006 (MSMED Act). Therefore, no additional information as required under MSMED Act has been provided. However, the Company continues to take efforts to obtain relevant information from its Sundry Creditors in this regard.

7. Figures of the previous years are regrouped / reclassified to conform to the currentyearclassifications.

 
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