Home  »  Company  »  Datasoft Applic.  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Datasoft Application Software (India) Ltd.

Mar 31, 2014

Notes

a. There is no fresh issue of equity in last five years.

b. The Company has only One class of Equity Share having a par value of Rs. 10 per share. Each holder of Equity Shares is entitled to One vote per share. In the event of Liquidation of the company, the holder of Equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number fo equity shares, held by the shareholders.

1. There are no commitments on capital account as on the date of the Balance Sheet.

2. In terms of Section 22 of Micro, Small and Medium Enterprises Development Act, 2006, the outstanding to these enterprises are required to be disclosed. However, these enterprises are required to be registered under the Act. In the absence of the information about registration of the Enterprises under the above Act, the required information could not be furnished. In view of above and in absence of relevant informations, the Auditor has relied upon the same.

3. The company has suspended all its business activities till the time company generates sufficient resources for effective working, as decided by the Board of Directors in its meeting held on 21st January 2004. Accordingly company has neither replaced senior management staff after their resignation nor retained marketing network. Company carries on its effort to identify a strategic partner, who can bring in required resources. However, the management is not able to express their views on probable date for recommencement of company''s activities.

4. Considering the fact that company has a positive net worth, that company can meet all its liabilities out of its assets, and that the realizable value of the net assets is higher than / equal to its costs recorded in books and accordingly all the assets and liabilities have been stated at their historical costs, which is same as its realizable value.

5. Principal business of the Company remains temporarily suspended due to unavailability of sufficient resources. Company shall restart its business upon generating required resources for effective working. Meanwhile idle funds are invested in interest fetching loans/deposits, till the time they get deployed in main business. Since the Company has no other business, the interest income and the loan assets are respectively more than 50% of total income and 50 % of total assets. The company therefore satisfies one of the conditions of NBFC registration. However since Net worth of the Company is less than Rs. 200 lakhs, the Company cannot register itself as NBFC.

6. Deferred Tax :

The company has unabsorbed depreciation and carry forward losses and other allowances available for set-off under the Income Tax Act 1961. However in view of present uncertainty regarding generation of sufficient future taxable income, net deferred tax assets amounting to Rs. 61,85,812 at the year-end including related credit for the year have not been recognized in these accounts on prudent basis.

The above loans are not repayable within a period of 12 months, as confirmed by the parties. Related parties are identified by Management and relied upon by the Auditors.

7. Segment Reporting :

The only source of income for the Company is interest earned on idle funds invested in loans / deposits. Hence no disclosure under Accounting Standard - 17, ''Segment Reporting'' is required in these financial statements. There is no reportable Geographical Segment.

8. At the end of the year, there were no employees in the company; hence no provision has been made for Gratuity and Leave encashment.

9. Previous period figures are grouped / regrouped, arranged / re-arranged wherever necessary to conform to current year''s classification.


Mar 31, 2013

1. There are no commitments on capital account as on the date of the Balance Sheet.

2. In terms of Section 22 of Micro, Small and Medium Enterprises Development Act, 2006t the outstanding to these enterprises are required to be disclosed. However, these enterprises are . required to be registered under the Act. In the absence of the information about registration of the - ;

- Enterprises under the above Act, the required Information could not be furnished. In view of above and in absence of relevant informations, the Auditor has relied upon the same.

3. The company has suspended all its business activities till the time company generates sufficient . resources for effective working, as decided by the Board of Directors in its meeting held on 21M January 2004. Accordingly-company has neither replaced senior management staff after their '' resignation nor retained marketing network. Company carries on its effort to identify a strategic partner, who can bring in required resources. However, the management is not able to express < their views on probable date for recommencement of company''s activities.'' '' i

Considering the fact that company has a positive net worth, that company can meet all its liabilities out of its assets, and that the realizable value of the net assets is tiigher than / equal to its costs recorded in books and accordingly all''the assets and liabilities have been stated at their historical costs, which is same as its realizable value.

4. Principal business of the company remains temporarily suspended due to unavailability of sufficient resources. Company shall restart its business upon generating required resources for effective j working. Meanwhile idle funds are invested In interest fetching loans/deposits, tilt the time they get '' [ deployed in main business. Since the Company has "no other business, the interest income and > the ioan assets-are respectively more than-50% of total income and 50 % of total assets. The company therefore satisfies one of the conditions for fcJBFC registration. Howevet since Net worth j, of the Company is less than Rs. 200 lakhs, the Company cannot register itself as NBFC. i

5. Deferred Tax :

The* company has unatosorbed depreciation and carry forward.losses and other allowances I available for set-off under the Income Tax Act 1961. However in view of present uncertainty regarding generation of sufficient future taxable income, net deferred tax assets amounting to i Rs. 63,70,541 at the year-end including related credit for the year have not been recognized in these j accounts on prudent basis. j

The above loans are not repayable within a period of 12 months, -as confirmed by the parties. Related parties are identified by Management and relied upon by the Auditors.

6. Segmerjt Reporting : -

The only source of income for Company is interest earned on idle funds, invested in loans / deposits. Hence no disclosure under Accounting Standard - 17, ''Segment Reporting'' is required in these financial statements. There is,no reportable Geographical Segment.

7. At the end of the year, there were no employees in the company; hence no provision has been made for Gratuity and Leave encashment.

8. Previous period figures are grouped / regrouped, arranged / re-arranged wherever necessary to conform to current year''s classification.


Mar 31, 2012

1. There are no commitments on capital account as on the date of the Balance Sheet.

2. In terms of Section 22 of Micro, Small and Medium Enterprises Development Act, 2006, the outstanding to these enterprises are required to be disclosed. However, these enterprises are required to be registered under the Act. In the absence of the information about registration of the Enterprises under the above Act, the required information could not be furnished. In view of above and in absence of relevant informations, the Auditor has relied upon the same.

3. The company has suspended all its business activities till the time company generates sufficient resources for effective working, as decided by the Board of Directors in its meeting held on 21st January 2004. Accordingly company has neither replaced senior management staff after their resignation nor retained marketing network. Company carries on its effort to identify a strategic partner, who can bring in required resources. However, the management is not able to express their views on probable date for recommencement of company's activities.

Considering the fact that company has a positive net worth, that company can meet all its liabilities out of its assets, and that the realizable value of the net assets is higher than/equal to its costs recorded in books and accordingly all the assets and liabilities have been stated at their historical costs, which is same as its realizable value.

4. Principal business of the company remains temporarily suspended due to unavailability of sufficient resources. Company shall restart its business upon generating required resources for effective working. Meanwhile idle funds are invested in interest fetching loans/deposits, till the time they get deployed in main business. Since the Company has no other business, the interest income and the loan assets are respectively more than 50% of total income and 50 % of total assets. The company therefore satisfies one of the conditions for NBFC registration. However since Net worth of the Company is less than Rs. 200 lakhs, the Company cannot register itself as NBFC.

5. Deferred Tax :

The company has unabsorbed depreciation and carry forward losses and other allowances available for set-off under the Income Tax Act 1961. However in view of present uncertainty regarding generation of sufficient future taxable income, net deferred tax assets amounting to Rs. 65,88,757 at the year-end including related credit for the year have not been recognized in these accounts on prudent basis.

6. Segment Reporting :

The only source of income for Company is interest earned on idle funds invested in loans/deposits. Hence no disclosure under According Standard - 17, 'Segment Reporting' is required in these financial statements. There is no reportable Geographical Segment.

7. At the end of the year, there were no employees in the company; hence no provision has been made for Gratuity and Leave encashment.

8. Previous period figures are grouped/regrouped, arranged/re-arranged wherever necessary to conform to current year's classification.


Mar 31, 2011

1. There are no commitments on capital account as on the date of the Balance Sheet.

2. In terms of Section 22 of Micro, Small and Medium Enterprises Development Act, 2006, the outstanding to these enterprises are required to be disclosed. However, these enterprises are required to be registered under the Act. In the absence of the information about registration of the Enterprises under the above Act, the required information could not be furnished. In view of above and in absence of relevant informations, the Auditor has relied upon the same.

3. The company has suspended all its business activities till the time company generates sufficient resources for effective working, as decided by the Board of Directors in its meeting held on 21st January 2004. Accordingly company has neither replaced senior management staff after their resignation nor retained marketing network. Company carries on its effort to identify a strategic partner, who can bring in required resources. However, the management is not able to express their views on probable date for recommencement of company's activities.

Considering the fact that company has a positive net worth, that company can meet all its liabilities out of its assets, and that the realizable value of the net assets is higher than / equal to its costs recorded in books and accordingly all the assets and liabilities have been stated at their historical costs, which is same as its realizable value.

4. Principal business of the company remains temporarily suspended due to unavailability of sufficient resources. Company shall restart its business upon generating required resources for effective working. Meanwhile idle funds are invested in interest fetching loans/deposits, till the time they get deployed in main business. Since the Company has no other business, the interest income and the loan assets are respectively more than 50% of total income and 50 % of total assets. The company therefore satisfies one of the conditions for NBFC registration. However since Net worth of the Company is less than Rs. 200 lakhs, the Company cannot register itself as NBFC.

5. Deferred Tax :

The company has unabsorbed depreciation and carry forward losses and other allowances available for set-off under the Income Tax Act 1961. However in view of present uncertainty regarding generation of sufficient future taxable income, net deferred tax assets amounting to Rs. 71,67,784 at the year-end including related credit for the year have not been recognized in these accounts on prudent basis.

6. Segment Reporting :

The only source of income for Company is interest earned on idle funds invested in loans / deposits. Hence no disclosure under According Standard - 17, "Segment Reporting" is required in these financial statements. There is no reportable Geographical Segment.

7. At the end of the year, there were no employees in the company; hence no provision has been made for Gratuity and Leave encashment.

8. Previous year's figures are grouped / regrouped, arranged / re-arranged wherever necessary.


Mar 31, 2010

1. There are no commitments on capital account as on the date of the Balance Sheet.

2. In terms of Section 22 of Micro, Small and Medium Enterprises Development Act, 2006, the outstanding to these enterprises are required to be disclosed. However, these enterprises are required to be registered under the Act. In the absence of the information about registration of the Enterprises under the above Act, the required information could not be furnished. In view of above and in absence of relevant informations, the Auditor has relied upon the same.

3. The company has temporarily suspended all its business activities till the time company generates sufficient resources for effective working, as decided by the Board of Directors in its meeting held on 21st January 2004. Accordingly company has neither replaced senior management staff after their resignation nor retained marketing network. Company carries on its effort to identify a strategic partner, who can bring in required resources. However, the management is not able to express their views on probable date for recommencement of companys activities.

Considering the fact that company has a positive net worth, that company can meet all its liabilities out of its assets, and that the realizable value of the net assets is higher than / equal to its costs recorded in books and accordingly all the assets and liabilities have been stated at their historical costs, which is same as its realizable value.

4. Deferred Tax :

The company has unabsorbed depreciation and carry forward losses and other allowances available for set-off under the Income Tax Act 1961. However in view of present uncertainty regarding generation of sufficient future taxable income, net deferred tax assets amounting to Rs. 93,74,298 at the year-end including related credit for the year have not been recognized in these accounts on prudent basis.

5. Segment Reporting :

The Company operates in a single segment of financing activity, hence no additional disclosure under According Standard - 17, "Segment Reporting" is required in these financial statements. There is no reportable Geographical Segment.

6. At the end of the year, there were no employees in the company; hence no provision has been made for Gratuity and Leave encashment.

7. Previous period figures are grouped / regrouped, arranged / re-arranged wherever necessary.

 
Subscribe now to get personal finance updates in your inbox!