Home  »  Company  »  Danlaw Technologies  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Danlaw Technologies India Ltd.

Mar 31, 2015

1.1.1 Taxes on Income as per Accounting Standard 22

a) In accordance with the Accounting Standard (AS)22 relating to "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, an amount of Rs.2,31,948/- has been recognized as Deferred Tax Asset accrued during the year. Thus net Deferred Tax Asset of .2,31948/- charged in the Profit & Loss Account.

1.1.2 Disclosure under Macro, Small and Medium Enterprises Development Act, 2006 There are no Micro, Small Scale Business Enterprises to whom the Company owes dues, which are outstanding for more than45daysasatMarch31,2015. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

1.1.3 The Company has overdraft facility with HDFC Bank Ltd to the extent of Rs.2.70 crores against the security of Company's term deposits of Rs.3.00 crores with them.

The Transactions with related parties have been carried at arm's leng price and also supported by the documentation reflecting the arm's leng transaction

1.1.4 Disclosure of Depreciation as per the Companies Act 2013

Useful life of various assets was revised in accordance with Schedule II of the Companies Act 2013. The change in useful life resulted in the completion of useful life certain fixed assets before 31.03.2014. The written down value of the assets after retaining the salvage value was transferred to the opening balance of retained earnings in the current year in the amount or Rs. 45,84,746/-

1.1.5. Depreciation

Certain Assets which were old and not in use having net book value Nil have been retired.

1.1.6 Notes on accounts

The previous year's figures have been regrouped, reclassified / restated, wherever necessary, to conform to the current year's classification.


Mar 31, 2014

Contingent Liabilities:

Bank Guarantees 15,65,011 9,54,503


Mar 31, 2013

1.1.1 Contingent Liabilities:

Bank Guarantees 9,54,503 3,44,417

1.1.2 Disclosure under Macro, Small and Medium Enterprises Development Act, 2006 There are no Micro, Small Scale Business Enterprises to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2013. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

1.1.3 The Company has overdraft facility with HDFC Bank Ltd to the extent of Rs.2.70 crores against the security of Company''s term deposits of Rs.3.00 crores with them.

1.1.4 Notes on accounts

The previous year''s figures have been regrouped, reclassified / restated, wherever necessary, to conform to the current year''s classification.


Mar 31, 2012

1.1.1 Contingent Liabilities:

Bank Guarantees 3,44,417 98,26,200

1.1.2 Disclosure under Macro, Small and Medium Enterprises Development Act, 2006 There are no Micro, Small Scale Business Enterprises to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2012. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

1.1.3 Notes on accounts

The previous year's figures have been regrouped, reclassified / restated, wherever necessary, to conform to the current year's classification.


Mar 31, 2010

The previous years figures have been regrouped, reclassified / restated, wherever necessary, to conform to the current years classification.

1.1.1 Contingent liabilities

The Company has outstanding counter guarantees of Rs.95,81,022/- as at March 31, 2010, to various banks, in respect of guarantees given by the said banks in favor of bodies corporate to the extent of Rs.93,19,557/- and Rs.2,61,465/- to government authorities. The counter guarantees outstanding as at the previous year-end was Rs. 80,18,856/- and Rs.1,92,525/- respectively.

1.1.2 Quantitative details

The information as required under paragraphs 3, 4C and 4D of Part II of Schedule VI of the Companies Act, 1956 are not applicable to this company.

1.1.3 Taxes on Income as per Accounting Standard 22

a) In accordance with the Accounting Standard (AS) 22 relating to "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, an amount of Rs.14.29 lakhs has been recognized in Profit & Loss Account as Deferred Tax Asset accrued during the year.

1.1.4 Secured Loans:

Overdraft facility from The Dhanalakshmi Bank Ltd is secured against the fixed deposits of the Company.

1.1.5 Related Party transactions

The Company had transactions with the following related parties:

Danlaw Inc., USA (DI) in which Mr. Raju S Dandu is CEO; Danlaw Technologies Inc., USA, (DTI) which is 100% Subsidiary of Danlaw Technologies India Ltd; Danlaw Systems India Ltd., in which Mrs. Lakshmi Dandu wife of Mr. Raju S Dandu is director; Mr. Raju S Dandu, Chairman & Managing Director (CMD); Mr. D S N Raju, Director; and Mrs. D Lakshmi, wife of Mr. D S N Raju.

1.1.6 Segment reporting

The companys sales are basically related to providing software development services delivered to customers situated at USA. Hence the primary and secondary segment reporting is based on the software development services to USA only.

1.1.7 There are no dues to small Scale Industrial undertakings outstanding above Rs. one lack and exceeding 30 days.



 
Subscribe now to get personal finance updates in your inbox!