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Dynacons Technologies Ltd. Notes to Accounts, Dynacons Technologies Ltd. Company
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Notes to Accounts of Dynacons Technologies Ltd.

Mar 31, 2015

Company Overview

Dynacons Technologies Limited is an Information Technology Company engaged in providing a comprehensive range of products to customers.

1.1 Segment Information

The company operates in the single segment of Information Technology Products.

1.2 Lease Commitments

Operating Lease

The company has taken office premises on lease under cancelable operating lease agreements that are renewable on a periodic basis at the option of both the lessor and the lessee. Rental payments under such leases are Rs, 0.90 (Previous year X 1.20).

1.3 Foreign Exchange Exposure:

The company has not entered in any forward contract for hedging or otherwise in respect of foreign currencies during the year, and there are no such contracts outstanding at the end of the year.

As of the Balance Sheet date, the Company has net foreign currency exposure that are not hedged by a derivative instrument or otherwise, amounting to Rs,0.89.(Previous yearRs, 086) .

1.4 Other Notes

a) In the opinion of the Board of Directors, Current Assets, Loans and Advance have the value at which these are stated in the Balance Sheet, if realised in the ordinary course of business and the provisions for all known liabilities is adequate and not in excess of or less than the amount reasonably necessary.

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


Mar 31, 2014

1.1 As per records of the company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents the both legal and beneficial ownership of shares.

1.2 The company has only one class of equity shares having a par value of Rs.10 per share. Each shareholder is eligible for one vote per share held. In the event of liquidation of the Company, holder of equity shares will be entitled to receive remaining assets of the Company after distribution of all preferential amount. The distribution will be in proportionate to the number of equity shares held by the shareholders.

1.3 No bonus shares have been issued to equity share holders since incorporation

1.4 No equity share shares been bought back since incorporation

2.1 Contingent Liabilities

a) Claims against the Company not acknowledged as debts: NIL

b) Guarantees given by the company''s bankers : NIL

2.2 Segment Information

The company operates in the single segment of Information Technology Products.

2.3 Related Party Disclosures

a.The names of related parties and the nature of relationship are as under:

S. P. Corporation Firm in which Directors have substantial interest.

Shirish M. Anjaria Chairman cum Managing Director

Parag J. Dalal Director

Dharmesh S. Anjaria Director

Trigem Infosolutions Limited Company in which Directors have substantial interest.

Dynacons System & Solution LimitEd Company in which Directors have substantial interest.

2.4 Lease Commitments Operating Lease

The company has taken office premises on lease under cancelable operating lease agreements that are renewable on a periodic basis at the option of both the lessor and the lessee. Rental payments under such leases are Rs. 1.20 (P revious year Rs. 1.20).

2.5 Foreign Exchange Exposure:

The company has not entered in any forward contract for hedging or otherwise in respect of foreign currencies during the year, and there are no such contracts outstanding at the end of the year.

As of the Balance Sheet date, the Company has net foreign currency exposure that are not hedged by a derivative instrument or otherwise, amounting to Rs.013.(Previous year Rs. NIL) .

2.6 Other Notes

a) In the opinion of the Board of Directors, Current Assets, Loans and Advance have the value at which these are stated in the Balance Sheet, if realised in the ordinary course of business and the provisions for all known liabilities is adequate and not in excess of or less than the amount reasonably necessary.

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


Mar 31, 2013

Company Overview

Dynacons Technologies Limited is an Information Technology company engaged in providing a comprehensive range of products to customers.

1.1 Contingent Liabilities

a) Claims against the Company not acknowledged as debts: NIL

b) Guarantees given by the company''s bankers : NIL

1.2 Segment Information

The company operates in the single segment of Information Technology Products.

1.3 Lease Commitments

Operating Lease

The company has taken office premises on lease under cancelable operating lease agreements that are renewable on a periodic basis at the option of both the lesser and the lessee. Rental payments under such leases are Rs. 1.20 (Previous year Rs. 1.20).

1.4 Foreign Exchange Exposure:

The company has not entered in any forward contract for hedging or otherwise in respect of foreign currencies during the year, and there are no such contracts outstanding at the end of the year.

As of the Balance Sheet date, the Company has net foreign currency exposure that are not hedged by a derivative instrument or otherwise, amounting to NIL. (Previous yearRs. 0 73 ) .

1.5 Other Notes

a) In the opinion of the Board of Directors, Current Assets, Loans and Advance have the value at which these are stated in the Balance Sheet, if realised in the ordinary course of business and the provisions for all known liabilities is adequate and not in excess of or less than the amount reasonably necessary.

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


Mar 31, 2011

Company Overview

Dynacons Technologies Limited is an Information Technology company engaged in providing a comprehensive range of products to customers. The Company has been formed during the current year.

1. Contingent Liabilities

a) Claims against the Company not acknowledged as debts: NIL

b) Guarantees given by the company''s bankers: NIL

2. SCHEME OF ARRANGEMENT

Pursuant to the Scheme of Arrangement (the Scheme) entered into by the Company with Dynacons Systems & Solutions Limited(DSSL), the Marketing and Distribution Business and Manufacturing Business of DSSL was transferred to Company with effect from 1st April, 2009, the Appointed Date.

The said Scheme, under section 391 to 394 of the Companies Act, 1956, has been approved by the Hon''ble High Court of Judicature of Bombay, vide its Order dated 15th October, 2010.

The Scheme provides that it shall become effective upon satisfaction of the conditions set out in the Scheme therein, including receipt of necessary approvals from Government Authorities. Accordingly, upon receipt of the requisite approvals, as aforesaid, the Effective Date of the Scheme was December 20,2010.

In accordance with the terms of the Scheme of Arrangement an aggregate of 44,432,100 equity shares of Re 1 each of the Company were issued as fully paid up, to the members of DSSL whose names are recorded in the register of members on the record date, in the ratio of 3(three) equity shares of the Company of face value of Re 1 each for every 10(ten) equity shares of Rs 2 each held by such member in DSSL.

In accordance with the Scheme, the following effects have been given in the books of account of the Company:

3. Managerial Remuneration

Managerial Remuneration paid to Managing Director and Whole-time Directors is in accordance with the limits prescribed under Section 198 and Section 309 ofthe Companies Act, 1956

Note: The information has been given in respect of such vendors to the extent they could be identified as micro and small enterprises as per MSMED on the basis of information available with the Company.

4. Segment Information

The company operates in the single segment of System Integration Technology Products.

5. Deferred Taxation

The company has made provision for Deferred Taxation as per the requirements of Accounting Standard 22 - Accounting for Taxes on Income.

6. Lease Commitments Operating Lease

The company has taken office premises on lease under cancelable operating lease agreements that are renewable on a periodic basis at the option of both the lessor and the lessee. Rental payments under such leases are Rs. 60,000/-. (previous year Rs. 61,014/-)

7. Retirement Benefit Plans Defined benefit plan

Gratuity Plan

The present value ofthe defined benefit obligation and the related current service cost were measured using the Projected Unit Credit Method with actuarial valuations being carried out at the balance sheet date.

The following tables set out the status ofthe gratuity plan and amounts recognized in the Company''s financial statements as at March 31,2011:

8. Foreign Exchange Exposure:

The company has not entered in any forward contract for hedging or otherwise in respect of foreign currencies during the year, and there are no such contracts outstanding at the end of the year.

9. Other Notes

a) In the opinion of the Board of Directors, Current Assets, Loans and Advance have the value at which these are stated in the Balance Sheet, if realised in the ordinary course of business and the provisions for all known liabilities is adequate and not in excess of or less than the amount reasonably necessary.

b) Previous year''s figures have been regrouped or rearranged or reclassified wherever necessary to confirm to those of the current year.

 
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