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Notes to Accounts of Intense Technologies Ltd.

Mar 31, 2016

1. The previous years figures have been recast/restated/regrouped, wherever necessary, to conform to the current period''s classification.

2. Balances of various parties, debtors and creditors are subject to confirmation.

3. Prior Period Items

Prior period item includes depreciation of previous year amounting to '' 1,41,52,354/- provided during the year

4. Deferred Tax Assets/Liabilities:

Deferred tax asset was provided as per AS-22, accounting for taxes on income.

5. Impairment of Fixed Assets:

As per AS-28 on "Impairment of Assets”, all assets other than current assets, investments and deferred tax assets are reviewed for impairment wherever event/s or changes in circumstances indicate that carrying of amount of those assets may not be recoverable.

6. Overseas Branch Accounts & Audit:

We have considered the Auditor''s Report dated 6th May 2016 of Sashi Kala Devi Associates, Singapore, Auditors of Singapore Branch in framing our Audit Report.

7. ESOP''s vested and exercised by Management Personnel:

(i) Jayant Dwarkanath - 8,62,500 stock options were exercised and converted into Equity Shares of '' 2/each.

8. Gratuity Report under AS-15 (rev) as on 31.03.2016

The Present Value of obligation is determined based on actuarial valuation using Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.


Mar 31, 2015

1. Share Capital

a) Rights of shareholders :

The Company has only one class of equity shareholders. Each holder of equity shares is entitled to one vote per share.

2. The previous years figures have been recast/restated/regrouped, wherever necessary, to conform to the current period's classification.

3. Balances of various parties, debtors and creditors are subject to confirmation.

4. Quantitative Details:

The Company is engaged in development and maintenance of software products, solutions and related services. The production and sale of such software products, solutions and related services cannot be expressed in any generic unit. Hence, it is not possible to give the quantitative details of sales and certain information as required.

The Company's operations predominantly relates to software product development, solutions and related services, hence no reportable primary segment information is made. The secondary segment reporting of the company's revenues are as follows:

5. Prior Period Items

Prior period item of Rs. 2.46 lakhs net of credit items of Rs. 4.65 lakhs and debit items of Rs. 7.11 lakhs.

6. Deferred Tax Assets/Liabilities:

Deferred tax asset was provided as per AS-22, accounting for taxes on income.

7. Impairment of Fixed Assets:

As per AS-28 on "Impairment of Assets", all assets other than current assets, investments and deferred tax assets are reviewed for impairment wherever event/s or changes in circumstances indicate that carrying of amount of those assets may not be recoverable.

8. Overseas Branch Accounts & Audit:

We have considered the Auditor's Report dated 5th May 2015 of Sashi Kala Devi Associates, Singapore, Auditors of Singapore Branch in framing our Audit Report.

9. Related Party Disclosures:

A) Key Managerial Personnel

(i) Mr. C. K. Shastri, Chairman and Managing Director

(ii) Mr. Jayant Dwarkanath, Whole time Director

(iii) Mr. Navajyoth Puttaparthi, Company Secretary & Compliance Officer

(iv) Mr. H. Madhukar Nayak, Head-Finance

B) Relatives of Key Managerial Personnel

(i) Ms. Anisha Chidhella, Daughter of Chairman and Managing Director, working as a Senior Business Consultant.

(ii) Mrs. P Vijaya Lakshmi, Mother of Company Secretary & Compliance Officer, working as a Business Consultant.

C) Enterprises in which Key Managerial Personnel 14(A) above has significant influence:

(i) M/s Kytes IT Services Pvt Ltd (formerly M/s e-JAS Tech Solutions Pvt Ltd)

(ii) M/s i - trace Nanotech Pvt Ltd

(iii) M/s Pavisara Greentech Pvt Ltd

10. ESOP's granted to Management Personnel:

(i) Jayant Dwarkanath - 8,62,500 stock options.

11. Gratuity Report under AS-15 (rev) as on 31.03.2015

The Present Value of obligation is determined based on actuarial valuation using Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

Gratuity Report under AS-15 (rev) for the year ended 31st March 2015.


Mar 31, 2014

1.a) Rights of shareholders :

The Company has only one class of equity shareholders. Each holder of equity shares is entitled to one vote per share.

2. The previous years figures have been recast/restated/regrouped, wherever necessary, to conform to the current period''s classification.

3. Balances of various parties, debtors and creditors are subject to confirmation.

4. Subsidiary Companies:

The Company has incorporated the following 100% subsidiaries. However there were no commercial operations during the financial year 2013-14.

5. Quantitative Details:

Additional information pursuant to the provisions of paragraphs 3,4C and 4D of Part II of Schedule VI of the Companies Act, 1956.

The Company is engaged in development and maintenance of computer software. The production and sale of such software cannot be expressed in any generic unit. Hence, it is not possible to give the quantitative details of sales and certain information as required under paragraphs 3, 4C and 4D of Part II of Schedule VI to the Companies Act, 1956.

(Rs. in lakhs) 2013-2014 2012-2013 Contingent Liabilities: Counter Guarantees given to Banks towards issue of B.G.s 30.09 49.95

Outstanding Bank Guarantees 30.09 49.95

Managerial Remuneration: Managing & Whole time Directors 120.00 90.80

Expenditure in Foreign Currency: Travel Expenses 217.08 160.13

Other Expenditure incurred 83.18 65.86

Transferred for Singapore Branch Expenses 0.58 32.05

Transferred to Subsidiaries 121.20 -

6. Prior Period Items

Prior period item of Rs. 63.63 lakhs net of credit items of Rs. 70.37 lakhs and debit items of Rs. 6.74 lakhs.

7. Deferred Tax Assets/Liabilities:

Deferred tax asset was provided as per AS-22, accounting for taxes on income.

8. Impairment of Fixed Assets:

As per AS-28 on "Impairment of Assets", all assets other than current assets, investments and deferred tax assets are reviewed for impairment wherever event/s or changes in circumstances indicate that carrying of amount of those assets may not be recoverable.

9. Overseas Branch Accounts & Audit:

We have considered the Auditor''s Report dated 25th May 2014 of Sashi Kala Devi Associates, Singapore, Auditors of Singapore Branch in framing our Audit Report.

10. Gratuity Report under AS-15 (rev) as on 31.03.2014

The Present Value of obligation is determined based on actuarial valuation using Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.


Mar 31, 2013

1. As per the Andhra Pradesh High Court Orders dated 19th March,2013, (a) the Company has reduced its paid up Share Capital from Rs. 19,13,78,820/- (Rupees Nineteen Crores Thirteen Lakhs Seventy Eight Thousand, Eight Hundred and Twenty) divided into 1,91,37,882 Equity shares of Rs. 10/- each to Rs. 3,82,75,764/- (Rupees Three Crores Eighty Two Lakhs Seventy Five Thousand, Seven Hundred and Sixty Four) divided into 1,91,37,882 Equity shares of Rs. 2/- each bearing distinctive nos 0001 to 1,91,37,882 and (b) an amount of Rs. 11,95,16,160/- out of Rs. 40,60,19,259/- of Share Premium Account of the company as on 31.03.2012, which has been lost or is unrepresented by available assets, has been written off and (c) the accumulated losses of the Company Rs. 27,26,19,216/- shown as the debit balance in the Profit & Loss Account as on 31.3.2012 have been written off fully by utilizing the aforesaid reduction in the Paid up Capital amount of Rs. 15,31,03,056/- and the Share Premium amount of Rs. 11,95,16,160/-;

2. The previous years figures have been recast/restated/regrouped, wherever necessary, to conform to the current period''s classification.

3. Balances of various parties, debtors and creditors are subject to confirmation.

4. Quantitative Details:

Additional information pursuant to the provisions of paragraphs 3,4C and 4D of Part II of Schedule VI of the Companies Act, 1956.

The Company is engaged in development and maintenance of computer software. The production and sale of such software cannot be expressed in any generic unit. Hence, it is not possible to give the quantitative details of sales and certain information as required under paragraphs 3, 4C and 4D of Part II of Schedule VI to the Companies Act, 1956.

(Rs.in Lakhs) 2012-2013 2011-2012

Contingent Liabilities:

Counter Guarantees given to Banks towards issue of B.G.s 49.95 42.30

Outstanding Bank Guarantees 49.95 42.30

5. Prior Period Items

Prior period item of Rs.26.53 lakhs represents net of credit items of Rs. 56.85 lakhs and debit items of Rs. 30.32 lakhs.

6. Deferred Tax Assets/Liabilities:

Deferred tax asset was provided as per AS-22, accounting for taxes on income.

7. Impairment of Fixed Assets:

As per AS-28 on “Impairment of Assets", all assets other than current assets, investments and deferred tax assets are reviewed for impairment wherever event/s or changes in circumstances indicate that carrying of amount of those assets may not be recoverable.

8. Overseas Branch Accounts & Audit:

We have considered the Auditor''s Report dated 6th May 2013 of Sashi Kala Devi Associates, Singapore, Auditors of Singapore Branch in framing our Audit Report.

9. Working Capital Facility:

Working capital facility from Bank is secured by way of hypothecation/mortgage/pledge of receivables and company''s building.

10.Related Party Disclosures:

A).Key Managerial Personnel

(i) C.K.Shastri, Chairman and Managing Director

(ii) Jayant Dwarkanath, Wholetime Director

B) Enterprises in which Key Managerial Personnel 14(A) above has significant influence:

(i) eJAS Tech Solutions Pvt.Ltd

(ii) i-Trace Nanotech Pvt.Ltd

11. Gratuity Report under AS-15 (rev) as on 31.03.2013

The Present Value of obligation is determined based on actuarial valuation using Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. Gratuity Report under AS-15 (rev) for the year ended 31st March 2013


Mar 31, 2012

A)Rights of shareholders :

The Company has only one class of equity shareholders. Each holder of equity shares is entitled to one vote per share.

Notes to Financial Statements for the year ended 31st March 2012.

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

2. Balances of various parties, debtors and creditors are subject to confirmation.

3. Quantitative Details:

Additional information pursuant to the provisions of paragraphs 3,4C and 4D of Part II of Schedule VI of the Companies Act, 1956.

The Company is engaged in development and maintenance of computer software. The production and sale of such software cannot be expressed in any generic unit. Hence, it is not possible to give the quantitative details of sales and certain information as required under paragraphs 3, 4C and 4D of Part II of Schedule VI to the Companies Act,1956.

2011-2012 2010-2011 (Rs.) (Rs.)

Contingent Liabilities:

Counter Guarantees given to Banks towards issue of B.G.s 4,229,568 4,807,269

Outstanding Bank Guarantees 4,229,568 4,807,269

Managerial Remuneration:

Managing & Whole time Directors 6,120,000 6,080,000

Imports on CIF basis:

Hardware/Software - -

Expenditure in Foreign Currency:

Travel Expenses 2,368,995 1,012,072

Other Expenditure incurred 1,140,705 2,863,654

Transferred for Singapore Branch Expenses 2,340,000 5,764,145

4. Prior Period Items

Prior period item of Rs.53.59 lacs includes Net amount after writing off of old debit balances of Rs.62.12 lacs and old credit balance of Rs.8.53 lacs.

5. Deferred Tax Assets/Liabilities:

Deferred tax asset was provided as per AS-22, accounting for taxes on income.

6. Impairment of Fixed Assets:

As per AS-28 on "Impairment of Assets", all assets other than current assets, investments and deferred tax assets are reviewed for impairment wherever event/s or changes in circumstances indicate that carrying of amount of those assets may not be recoverable.

7. Overseas Branch Accounts & Audit:

We have considered the Auditor's Report dated 2nd May 2012 of Sashi Kala Devi Associates, Singapore, Auditors of Singapore Branch in framing our Audit Report.

8. Working Capital Facility:

Working capital facility from Bank is secured by way of hypothecation/mortgage/pledge of receivables and company's building.

9.Related Party Disclosures:

A).Key Managerial Personnel

(i)C.K.Shastri, Chairman and Managing Director

(ii)Jayant Dwarkanath, Wholetime Director

B) Enterprises in which Key Managerial Personnel 14(A) above has significant influence:

(i) eJAS Tech Solutions Pvt.Ltd

(ii) i-Trace Nanotech Pvt.Ltd

10.Employees Benefits:

As per Accounting Standard 15 "Employee Benefits" the disclosures of Employee Benefit, as defined in Accounting Standard are given below

11. GRATUITY REPORT UNDER AS-15 (REV) AS ON 31.03.2012

The Present Value of obligation is determined based on actuarial valuation using Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.


Mar 31, 2010

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

2. Balances of various parties, debtors and creditors are subject to confirmation

3. Quantitative Details:

Additional information pursuant to the provisions of paragraphs 3,4C and 4D of Part II of Schedule VI of the Companies Act, 1956.

The Company is engaged in development and maintenance of computer software. The production and sale of such software cannot be expressed in any generic unit. Hence, it is not possible to give the quantitative details of sales and certain information as required under paragraphs 3, 4C and 4D of Part II of Schedule VI to the Companies Act, 1956.

2009-2010 2008-2009 Rs. Rs.

Contingent Liabilities:

Counter Guarantees given to Banks towards issue of B.G.s 3,486,400 471,400

Outstanding Bank Guarantees 3,486,400 471,400

FDRs pledged with Central Excise Department - 55,000

General Surety Security with Central Excise Dept. - 1,100,000

Managerial Remuneration:

Managing & Whole time Directors 6,040,000 6,000,000

Imports on CIF basis:

Hardware/Software 12,837,877 1,284,052

Expenditure in Foreign Currency:

Travel Expenses 477,060 721,147

Other Expenditure incurred 810,957 16,100

Transferred for Singapore Branch Expenses 7,907,599 10,742,825

4.Prior Period Items

Major items include an amount of Rs.4.55 lakhs pertain to EMDs (old) and an amount of Rs.2.40 lakhs pertain to tax differences for the earlier years.

5. Deferred Tax Assets/Liabilities:

Deferred tax asset was provided as per AS-22, accounting for taxes on income.

6. Impairment of Fixed Assets:

As per AS-28 on "Impairment of Assets", all assets other than current assets, investments and deferred tax assets are reviewed for impairment wherever event/s or changes in circumstances indicate that carrying of amount of those assets may not be recoverable.

7. Overseas Branch Accounts & Audit:

We have considered the Auditors Report dated 26th July 2010 of M/s.Sashi Kala Devi & Associates, Singapore, Auditors of Singapore Branch in framing our Audit Report.

8. Working Capital Facility:

Working capital facility from Bank is secured by way of hypothecation/mortgage/pledge of receivables and companys building.

9. Dues to Micro, Small and Medium Enterprises:

The Classification of the suppliers under Micro, Small and Medium Enterprises Development Act, 2006 is made based on the submission of the registration certificate under the said Act by the suppliers. The outstanding to the Micro, Small and Medium Enterprises more than 16 days during the period is Nil.

10.Exceptional items pertains to one time severance payment made to ex-employee of the company.

11.Share Application money of Rs. 108.00 lakhs includes Rs.24.00 lakhs pertaining to equity warrant money received from NRI Director for which no FIPB approval was received.

12.Related Party Disclosures:

A) Key Managerial Personnel

(i) C.K.Shastri, Chairman and Managing Director (ii) Jayant Dwarkanath, Wholetime Director

B) Enterprises in which Key Managerial Personnel 15(A) above has significant influence:

(i) eJAS Tech Solutions Pvt.Ltd (ii) i-Trace Nanotech Pvt.Ltd

13.Gratuity Report under AS-15 (rev) as on 31.03.2010

The Present Value of obligation is determined based on actuarial valuation using Projected Unit Credit Method, which recognizes each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation.

Gratuity Report under AS-15 (rev) for the year ended 31st March 2010

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