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Notes to Accounts of Dynavision Ltd.

Mar 31, 2015

1. Debenture redemption - Public:

The Company during the year 2007-08 redeemed the entire balance debentures of Rs. 152.41 lakhs of principal plus simple interest @ 14% per annum up to and inclusive of 30th September 2007, as per the approval accorded by the Debenture Holders at their Meeting held on 12.12.2007. The entire amount was paid into the Current account opened with the State Bank of India, Chennai Main Branch on 14.12.2007. Unclaimed Debentures aggregating to Rs. 87.02 lakhs was transferred to Investor Education and protection fund on 07th January 2015.

2. Lease

The Company has given Land along with its Demised Premise Under Lease for a Period of29Years to Apollo Hospitals Enterprises Limited which is renewable at the option of lessee for a further period of 31 years the Company has obtained Refundable interest free Deposit of Rs. 20 Crores.

Operating Lease Income aggregating to Rs. 432.15 Lakhs is shown under Other Income.

The future minimum lease payments under non- cancellable operating leases in the aggregate and for the each of the following periods:

3. Related Party Disclosure (As per Accounting Standard - 18)

The List of related parties as identified by the Company are as under Key Management Personnel

1) Sri. R. P. Agrawal - Director

2) Sri. M. S. Meeramohideen - Director

Persons who have significant influence : Sri. P. Vijayakumar Reddy.

Entitles over which related party has Significant Influence : PPN Holdings Limited

Remuneration paid to Key Management Personnel - Rs. 10.51Lakhs (9.34 lakhs.)

4. On consideration of Prudences Deferred Tax Asset has not been created.

5. The Company had no outstanding dues that require to be furnished under section 22 of "The Micro small and medium enterprises development Act 2006.

6. CIF value of imports Nil

7. Earnings and Expenditure in Foreign currency Nil

8. Paise have been rounded off to the nearest Rupee.

9. Previous year's figures have been regrouped and rearranged wherever necessary, to conform to current year's classification.


Mar 31, 2013

1. Exceptional Item:

Exceptional Item for the year ended 31.03.2013 comprises of Asset written off on account of demolition of Building and related Electrical items attached to it.

2. Debenture redemption - Public:

The Company during the year 2007-08 redeemed the entire balance debentures of Rs. 152.41 lakhs of principal plus simple interest @ 14% per annum up to and inclusive of 30th September 2007, as per the approval accorded by the Debenture Holders at their Meeting held on 12.12.2007. The entire amount was paid into the Current account opened with the State Bank of India, Chennai Main Branch on 14.12.2007. Unclaimed Debentures as at 31.03.2013 amounting to Rs. 85.99 lakhs (Previous year amounting to 86.41 lakhs) is reflected under current liability and also under Bank Balance.

3. Lease

The Company has given Land along with its Demised Premise Under Lease for a Period of 29 Years to Apollo Hospitals Enterprises Limited which is renewable at the option of lessee for a further period of 31 years the Company has obtained Refundable interest free Deposit of Rs. 20 Crores.

Operating Lease Income aggregating to Rs. 55 Lakhs is shown under Rental Income.

4. Related Party Disclosure under Accounting Standard 18

The List of related parties as identified by the Company are as under :- Key Management Personnel 1) Sri. R. P. Agrawal - Director

2) Sri. M. S. Meeramohideen - Director

Persons who have significant influence : Sri. P. Vijayakumar Reddy.

Entitles overwhich related party has

Significant Influence : PPN Holdings Limited

Remuneration paid to Key Management Personnel - Rs. 8.26 Lakhs (7.67 lakhs.)

5. On consideration of Prudences Deferred Tax Asset has not been created.

6. The Company had no outstanding dues that require to be furnished under section 22 of "The Micro small and medium enterprises development Act 2006.

7. CIF value of imports Nil

8. Earnings and Expenditure in Foreign currency Nil

9. Paise have been rounded off to the nearest Rupee.

10. Previous year''s figures have been regrouped and rearranged wherever necessary, to conform to current year''s classification.


Mar 31, 2012

1. Contingent Liabilities :

The Company has not made any provision towards Income Tax demand /under dispute to the extent of Rs. Nil (previous year Rs. 14 lakhs) as the Company has preferred appeals.

2. Debenture redemption - Public:

The Company during the year 2007-08 availed an Inter Corporate Loan of Rs. 385 lakhs and redeemed the entire balance debentures of Rs. 152.41 lakhs of principal plus simple interest @ 14% per annum up to and inclusive of 30th September 2007, as per the approval accorded by the Debenture Holders at their Meeting held on 12.12.2007. The entire amount was paid into the Current account opened with the State Bank of India, Chennai Main Branch on 14.12.2007. Unclaimed Debentures as at 31.03.2012 amounting to Rs. 86.41 lakhs (Previous year amounting to 86.63 lakhs) is reflected under current liability and also under Bank Balance.

3. The Company during the year continued to do job work to M/s MTL Instruments (P) Ltd. Further the Company is planning to venture into other activities. For the reasons stated above the accounts have been prepared on "Principle applicable to Going Concern"

4. Related Party Disclosure under Accounting Standard 18

The List of related parties as identified by the Company are as under:-

Key Management Personnel 1) Sri. K. Venkateswaran - Director

(Up to 31.03,2012)

2) Sri. M. S. Meeramohideen - Director

Persons who have significant influence : Sri. P. Vijayakumar Reddy.

Entitles over which related party has

Significant Influence : PPN Holdings Limited

Remuneration paid to Key Management Personnel - Rs. 7.67 Lakhs (7.41 lakhs.)

Other Related Party Transactions:

Particulars 2011-12 2010-11

Loans availed from PPN

Holdings Limited 23,79,20,853 23,82,40,853

5. The Company had no outstanding dues that require to be furnished under section 22 of "The Micro small and medium enterprises development Act 2006.

6. Paise have been rounded off to the nearest Rupee.

7. Previous year's figures have been regrouped and rearranged wherever necessary, to conform to current year's classification.


Mar 31, 2011

1. Contingent Liabilities :

a) The Company has not made any provision towards Income Tax demand /under dispute to the extent of Rs.14.00 lakhs (previous year Rs.28.88 lakhs) as the Company has preferred appeals.

2. Debenture redemption - Public:

The Company during the year 2007-08 availed an Inter Corporate Loan of Rs. 385 lakhs and redeemed the entire balance debentures of Rs. 152.41 lakhs of principal plus simple interest @ 14% per annum up to and inclusive of 30th September 2007, as per the approval accorded by the Debenture Holders at their Meeting held on 12.12.2007. The entire amount was paid into the Current account opened with the State Bank of India, Chennai Main Branch on 14.12.2007. Unclaimed Debentures as at 31.03.2011 amounting to Rs. 86.63 lakhs (Previous year amounting to 87.10 lakhs) is reflected under current liability and also under Bank Balance.

3. The Company during the year continued to do job work to M/s MTL Instruments (P) Ltd. The Company expect that the quantum of work is likely to pick up in the near future. Further the Company is planning to venture into other activities. For the reasons stated above the accounts have been prepared on "Principle applicable to Going Concern"

4. During the year, the Company has settled certain disputed Income Tax Liability. Such Income Tax Liability aggregating to Rs. 25.84 lakhs is reflected as tax expenses relating to earlier years.

5. Related Party Disclosure under Accounting Standard 18

The List of related parties as identified by the Company are as under :- Key Management Personnel

1) Sri. K. Venkateswaran - Director

2) Sri. M. S. Meeramohideen - Director

Persons who have significant influence : P. Vijayakumar Reddy.

Remuneration paid to Key Management Personnel - Rs. 7.41 Lakhs (6.29 lakhs.)

6. The entire operations of the Company relate to only one Segment, viz. manufacturing of sub-assemblies on Contractual basis. Hence, reporting Segment-wise Results does not arise.

7. The Company had no outstanding dues that require to be furnished under section 22 of "The Micro small and medium enterprises development Act 2006.

8. Paise have been rounded off to the nearest Rupee.

9. Previous year's figures have been re-arranged/re-grouped wherever necessary, to conform to current year's classification.

 
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