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

Notes to Accounts of Digital Electronics Ltd.

Mar 31, 2014

1. Deposits include Rs.1.50 Lacs (previous year Rs. 1.50 lacs) given to Backbay premises co-operative society for the renovation purpose of the office premises. The said society has raised arrears of dues of Rs.15.01 Lacs (previous year Rs. 14.63 lacs). The company has raised a dispute against such arrears and hence the said deposit has not been provided for.

2. Previous year''s figures have been regrouped / restated to conform to the current year''s classification and requirements of Revised Schedule VI to the Companies Act, 1956.


Mar 31, 2013

1. The company sold stake in one of the group companies- Softdel Systems Pvt Ltd during the year. Pursuant to this sale, the company incurred a loss on sale of investment of Rs. 3,11,02,377/- .

2. Sundry debtors, deposits and loans and advances, creditors, other liabilities are subject to confirmation, reconciliation and verification.

3. In the opinion of the board of directors sundry debtors, deposits, loans and advances are realizable in the course of business as stated in the balance sheet.

4. The company is in the process of obtaining information from vendors regarding their status under Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure relating to amount unpaid as at the yearend together with interest paid/payable under this Act have not been given.

5. As the company has temporarily discontinued its distributorship business in graphic arts systems and the respective manufacturers have taken over the warranty and service obligations for the machines in the field no warranty provision has been made in the books during the year. Also for the same reasons no warranty claims were made by the customers during the year.

6. The Company is presently exploring various business opportunities. The Company has in the meanwhile invested its surplus funds in financial assets. The Company has not applied for registration with Reserve Bank of India under section 45-IA of RBI Act, 1934 though as on 31st March, 2013, the total investment in financial assets exceeded 50% of total assets and income from Financial Assets exceeded 50% of total income. As the Company is of the opinion that the Registration is required only in case the principal business activity is of Investing whereas the investment by the Company was only out of its surplus funds.

7. Deposits include Rs.1.50 Lacs (previous year Rs. 1.50 lacs) given to Backbay premises co-operative society for the renovation purpose of the office premises. The said society has raised arrears of dues of Rs.14.63 Lacs (previous year Rs. 10.52 lacs). The company has raised a dispute against such arrears and hence the said deposit has not been provided for.

8. Previous year''s figures have been regrouped / restated to conform to the current year''s classification and requirements of Revised Schedule VI to the Companies Act, 1956.


Mar 31, 2012

1. The company sold stake in its 100% subsidiary, Del Automation Pvt. Ltd during the year. Pursuant to this sale, the company incurred a loss on sale of investment of Rs. 5,675,001/-.

2. The company has invested in one of the group companies- Unhide Advisors Pvt Ltd ('UAPL') during the year at a cost of Rs. 82,745,613/- including premium. Pursuant to this investment, the company's shareholding in UAPL is 14.78 % as on March 31,2012.

3. Sundry debtors, deposits and loans and advances, creditors, other liabilities are subject to confirmation, reconciliation and verification.

4. In the opinion of the board of directors sundry debtors, deposits, loans and advances are realizable in the course of business as stated in the balance sheet.

5. The company is in the process of obtaining information from vendors regarding their status under Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure relating to amount unpaid as at the year end together with interest paid/payable under this Act have not been given.

6. As the company has temporarily discontinued its distributorship business in graphic arts systems and the respective manufacturers have taken over the warranty and service obligations for the machines in the field no warranty provision has been made in the books during the year. Also for the same reasons no warranty claims were made by the customers during the year.

7. Fixed Deposit Rs.400,000 (previous year Rs. 400,000/-) are pledged for guarantees given by bank.

8. The Company is presently exploring various business opportunities. The Company has in the meanwhile invested its surplus funds in financial assets. The Company has not applied for registration with Reserve Bank of India under section 451A of RBI Act, 1934 though as on 31st March, 2012, the total investment in financial assets exceeded 50% of total assets and income from Financial Assets exceeded 50% of total income as the Company is of the opinion that the Registration is required only in case the principal business activity is of Investing whereas the investment by the Company was only out of its surplus funds.

9. Deposits include Rs.1.50 Lacs (previous year Rs. 1.50 lacs) given to Back bay premises co-operative society for the renovation purpose of the office premises. The said society has raised arrears of dues of Rs.10.52 Lacs (previous year Rs. 9.42 lacs). The company has raised a dispute against such arrears and hence the said deposit has not been provided for.

10. Previous year's figures have been regrouped / restated to conform to the current year's classification and requirements of Revised Schedule VI to the Companies Act, 1956.


Mar 31, 2011

1.Contingent liability is disclosed in case of

a) Present obligation arising out of past event, when it is not probable that an outflow of resources will be required to settle obligation.

b) A possible obligation, when the probability of outflow of resources is remote

Contingent assets are neither recognized nor disclosed. Provisions, contingent liabilities and contingent assets are reviewed on each balance sheet date.

2. Sundry debtors, deposits and loans and advances, creditors, other liabilities are subject to confirmation, reconciliation and verification.

3. In the opinion of the board of directors sundry debtors, deposits, loans and advances are realizable in the course of business as stated in the balance sheet.

4. Contingent liability not provided for

(i) Bank guarantee given Rs 3,60,000/- (previous year Rs 3,00,000/-)

(ii) Disputed arrears towards society maintenance Rs.9.42 Lacs (previous year Rs 7.84 lacs)

(iii) Contracts remaining to be executed on capital account and not provided for Nil (Previous Year Nil ).

(iv) Liabilities to Encad Inc. for suit filed against company for compensation. Amount is unascertainable.

5. The company is in the process of obtaining information from vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure relating to amount unpaid as at the year end together with interest paid / payable under this Act have not been given.

6. The company is in the process of obtaining information from vendors/suppliers regarding their status as small scale industry. In the absence of any information, we cannot determine that whether there are no dues outstanding for a period of more than 30 days as at March 31, 2011, in respect of small scale industries as defined under clause (j) of section 3 of the Industries (Development and Regulation ) Act , 1951.

7. As the company has temporarily discontinued its distributorship business in graphic arts systems and the respective manufacturers have taken over the warranty and service obligations for the machines in the field no warranty provision has been made in the books during the year. Also for the same reasons no warranty claims were made by the customers during the year.

8. Fixed Deposit Rs.4, 00,000(previous year Rs. 4,41,112/-) are pledged for guarantees given by bank.

9. The trading of shares of the company on stock exchange has been suspended due to non compliance of various listing requirements. The company currently is in the process of complying with these listing requirements.

10. The Company is presently exploring various business opportunities. The Company has in the meanwhile invested its surplus funds in financial assets. The Company has not applied for registration with Reserve Bank of India under section 451A of RBI Act, 1934 though as on 31st March, 2011, the total investment in financial assets exceeded 50% of total assets and income from Financial Assets exceeded 50% of total income as the Company is of the opinion that the Registration is required only in case the principal business activity is of Investing whereas the investment by the Company was only out of its surplus funds.

11. Deposits include Rs.1.50 Lacs given to Back bay premises co-operative society for the renovation purpose of the office premises. The said society has raised arrears of dues for the prior year of Rs.9.42 Lacs.(previous year Rs. 7.84 lacs) The company has raised a dispute against such arrears and hence the said deposit has not been provided for.


Mar 31, 2010

1. Sundry debtors, deposits and loans and advances, creditors, other liabilities are subject to confirmation, reconciliation and verification.

2. In the opinion of the board of directors sundry debtors, deposits, loans and advances are realisable in the course of business as stated in the balance sheet.

3. Contingent liability not provided for

(i) Bank guarantees given Rs. 3,00,000 (Including expired bank guarantee for which "No Claim Certificate" is awaited. The above bank guarantees are backed by 100% Bank Fixed Deposit).

(ii) Disputed arrears towards society maintenance Rs.7.84 Lacs (previous year Rs 7.01 lacs)

(iii) Contracts remaining to be executed on capital account and not provided for Nil (Previous Year Nil).

(iv) Liabilities to Encad Inc. for suit filed against company as compensation. Amount is unascertainable.

4. As the company has temporarily discontinued its distributorship business in graphic arts systems and the respective manufacturers have taken over the warranty and service obligations for the machines in the field no warranty provision has been made in the books during the year. Also for the same reasons no warranty claims were made by the customers during the year.

5. Fixed Deposit included Rs. 4,41,112/-(previous year Rs. 4,04,221/-) are pledged for guarantee given by bank. These Fixed Deposits have matured during the year; however the Company is in the process of obtaining confirmation from the bankers.

6. The company had not complied with the listing guidelines of Securities Exchange Board of India for Listing in Recognized Stock Exchange. The amounts payable if any due to non-compliance is unascertainable.

7. The Company is presently exploring various business opportunities. The Company has in the meanwhile invested its surplus funds in financial assets. The Company has not applied for registration with Reserve Bank of India under section 451A of RBI Act,1934 though as on 31st March, 2009, the total investment in financial assets exceeded 50% of total assets and income from Financial Assets exceeded 50% of total income as the Company is of the opinion that the Registration is required only in case the principal business activity is of Investing whereas the investment by the Company was only out of its surplus funds.

8. Deposits includes Rs.1.50 Lacs given to Backbay premises co-operative society for the renovation purpose of the office premises. The said society has raised arrears of dues for the prior year of Rs.7.84 Lacs.(previous year Rs. 7.01 lacs) The company has raised a dispute against such arrears and hence the said deposit has not been provided for

9. During the year company has paid Rs.1,95,000/- (previous year Rs. 25,000) to three past employee in lieu of out of court settlement towards case filled against the company under the Industrial. Dispute act, 1947 same has been charged to revenue. After this settlement, no more cases are pending in the Labour Court against the company.

10. Previous years figures have been regrouped / restated to conform to the current years classification.

Find IFSC