Jun 30, 2015
1. The accumulated losses as on 30th June, 2015 have exceeded the
paid up capital and Reserves of the company, Considering the future of
the products in which company was dealing, the management is of the
view that the provision of The Sick Industrial Companies (Special
ProvisionsJAct, liffis are not applicable to the Company.
2. The company's accumulated losses as at 30m June, 201.5 far exceed
its paid up capital and reserves as at that date, The Company's
business operation has also thinned down due to paucity of working
capital. Since the Director's are looking for right opportunity to
explore the similar line of business of activity, the Directors
consider that it is appropriate to prepare the financial statements on
going concern basis.
3. No Confirmation has been received in respect of one intercorporate
loan of Rs. 89,1 (),(100/- outstanding as at 30th June, 2015.
4. The Company has not provided interest on the inter corporate loans
of Rs. 10,32,117,181/- as the lenders have agreed to waive the same
except for one lender from whom no communication has been received.
5. Figure for current period are from 01/0 /2014 to 30/015/2015 and
to that extent are not comparable with these for the previous year.
Previous year's figure have been regrouped/rearrange to compare io
current year's presentation.
Mar 31, 2014
1. Corporate information
International Data Management limited (the company) is a public company
domiciled in India and incorporated under the provisions of the
Companies Act, 1956. Its shares are listed on Bombay stock exchange in
India. The company''s primary line of business had been Manufacturing of
Computers and related Peripherals.
2. Basis of preparation
The financial statements of the company have been prepared in
accordance with the generally accepted ¦ accounting principles in India
(Indian GAAP). The company has prepared these financial statements to
comply in all material respects with the accounting standards notified
under the Companies (Accounting Standards) Rules, 2006, (as amended)
and the relevant provisions of the Companies Act, 1956. The financial
statements have been prepared on an accrual basis and under the
historical cost convention. Duty drawbacks and insurance claims are
accounted for as and when admitted by the respective authorities.
3. Contingent Liabilities (Amount in Rs)
2014 2013
ESI Demand not acknowledged as debts* and
to the extent not provided for 676,777 676,777
Less: Amount deposited and shown as
recoverable 338,390 338,390
Balance 338,387 338,387
4. Sundry creditors due to Small Scale Industries as on 31st March
2014 is nil.
5. The accumulated losses as on 31st March, 2014 have exceeded die
paid up capital and Reserves of the company. Considering the future of
the products in which company was dealing, the management is of the
view that me provision of The Sick Industrial Companies (Special
Provisions)Act, 1985 are not applicable to the Company.
6 The company''s accumulated losses as at 31st March, 2014 far exceed
its paid up capital and reserves as at that date. The Company''s
business operation has also thinned down due to paucity of working
capital. Since the Directors are looking for right opportunity to
explore the similar line of business of activity, die Directors
consider that it is appropriate to prepare the financial statements on
going concern basis.
7. No Confirmation has been received in respect of one intercorporate
loan of Rs. 89,10,000/- outstanding as at 31st March, 2014.
8. The Company has not provided interest on the inter corporate loans
ofRs. 10,17,27,181/- as the lenders have agreed to waive the same except
for one lender from whom no communication has been received.
9. Previous year''s figures have been regrouped/rearranged to conform
to current year''s presentation.
Mar 31, 2013
1. Corporate information
International Data Management Limited (the company) is a public company
domiciled in India and incorporated under the provisions of the
Companies Act, 1956. Its shares are listed on Bombay stock exchange in
India. The company''s primary line of business had been Manufacturing of
Computers and related Peripherals.
2. Basis of preparation
The financial statements of the company have been prepared in
accordance with the generally accepted accounting principles in India
(Indian GAAP). The company has prepared these financial statements to
comply in all material respects with the accounting standards notified
under the Companies (Accounting Standards) Rules, 2006, (as amended)
and the relevant provisions of the Companies Act, 1956. The financial
statements have been prepared on an accrual basis and under the
historical cost convention. Duty drawbacks and insurance claims are
accounted for as and when admitted by the respective authorities.
3. Contingent Liabilities
(Amount in Rs.)
2013 2012
ESI Demand not acknowledged as
debts* and to the extent not
provided for 676,777 676,777
Less: Amount deposited and shown
as recoverable 338,390 338,390
Balance 338,387 338,387
4. Sundry creditors due to Small Scale Industries as on 31st March
2013 is nil.
5. The accumulated losses as on 31st March, 2013 have exceeded the
paid up capital and Reserves of the company. Considering the future of
the products in which company was dealing, the management is of the
view that the provision of The Sick Industrial Companies (Special
Provisions)Act, 1985 are not applicable to the Company.
6. The company''s accumulated losses as at 31st March, 2013 far exceed
its paid up capital and reserves as at that date. The Company''s
business operation has also thinned down due to paucity of working
capital. Since the Directors are looking for right opportunity to
explore the similar line of business of activity, the Directors
consider that it is appropriate to prepare the financial statements on
going concern basis.
7. No Confirmation has been received in respect of one intercorporate
loan of Rs. 89,10,000/- outstanding as at 31st March, 2013.
8. The Company has not provided interest on the inter corporate loans
of Rs. 9,83,12,181/- as the lenders have agreed to waive the same except
for one lender from whom no communication has been received.
9. Previous year''s figures have been regrouped/rearranged to conform
to current year''s presentation.
Mar 31, 2012
1. Corporate information
International Data Management Limited (the company) is a public company
domiciled in India and incorporated under the provisions of the
Companies Act, 1956. Its shares are listed on Bombay stock exchange in
India. The company's primary line of business had been Manufacturing of
Computers and related Peripherals.
2. Basis of preparation
The financial statements of the company have been prepared in
accordance with the generally accepted accounting principles in India
(Indian GAAP). The company has prepared these financial statements to
comply in all material respects with the accounting standards notified
under the Companies (Accounting Standards) Rules, 2006, (as amended)
and the relevant provisions of the Companies Act, 1956. The financial
statements have been prepared on an accrual basis and under the
historical cost convention.
Duty drawbacks and insurance claims are accounted for as and when
admitted by the respective authorities. The accounting policies adopted
in the preparation of financial statements are consistent with those of
previous year, except for the change in accounting policy explained
below.
a. Terms/rights attached to equity shares
The company has only one class of equity shares having a par value of Rs.
10 per share. Each holder of equity shares is entitled to one vote per
share. The company declares and pays dividends in Indian rupees. The
dividend proposed by the Board of Directors if any, is subject to
approval of the shareholders in ensuing Annual General Meeting.
In the event of liquidation of the company, the holders of the equity
shares will be entered to receive remaining assets of the company,
after distribution of all preferential amounts. The distribution will
be in proportion to the number of equity shares held by the
shareholders
*HCL Corporation Private Limited was formerly known as Guddu
Investments (Pondi) Private Limited
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 both
legal and beneficial ownerships of shares
3. Contingent Liabilities (Amount in Rs.)
2012 2011
ESI Demand not acknowledged as debts* and
to the extent not provided for 676,777 676,777
Less: Amount deposited and shown as
recoverable 338,390 338 390
Balance 338,387 338,387
4. Sundry creditors due to Small Scale Industries as on 31st March
2012 is nil.
5. The accumulated losses as on 31st March, 2012 have exceeded the
paid up capital and Reserves of the company. Considering the future of
the products in which company was dealing, the management is of the
view that the provision of The Sick Industrial Companies (Special
Provisions) Act, 1985 are not applicable to the Company.
6. The company's accumulated losses as at 31st March, 2012 far
exceed its paid up capital and reserves as at that date. The
Company's business operation has also thinned down due to paucity of
working capital. Since the Director's are looking for right
opportunity to explore the similar line of business of activity, the
Directors consider that it is appropriate to prepare the financial
statements on going concern basis.
7. No Confirmation has been received in respect of one intercorporate
loan of Rs. 89,10,000/- outstanding as at 31st March, 2012.
8. The Company has not provided interest on the inter corporate loans
of Rs. 9,83,12,181/- as the lenders have agreed to waive the same except
for one lender from whom no communication has been received.
9. Previous year's figures have been regrouped/rearranged to
conform to current year's presentation.
Mar 31, 2011
1. The amounts due from ex-directors Rs. nil/- (Previous year Rs
1,30,923/-) included under Advances recoverable in cash or kind
represent the excess Managerial remuneration paid to the ex-directors
for the period 1st October 1988 to 31st March, 1989 that requires the
approval of the Central Government and in respect of which an
application made is pending.
2. The accumulated losses as on 31st March, 2011 have exceeded the
paid up capital and Reserves of the company. Considering the future of
the products in which company was dealing, the management is of the
view that the provision of The Sick Industrial Companies (Special
Provisions) Act, 1985 are not applicable to the Company.
3. Depreciation has been provided on straight line basis:
(i) In respect of assets acquired prior to 2nd May, 1987 in accordance
with the provisions of section 205 (2) (b) of the Companies Act, 1956,
and the Circular No. 1/86- CLV No.15 (50) 84-CL, VI dated 21.5.1986
issued by the Department of Company Affairs.
(ii) In respect of assets acquired after 1" May, 1987, in accordance
with the rates prescribed in Schedule XIV to the Companies Act, 1956.
4. No Confirmation has been received in respect of one intercorporate
loan of Rs 89,10,000/- outstanding as at 31st March, 2011.
5. The Company has not provided interest on the inter corporate loans
of Rs 9,83,12,181/- as the lenders have agreed to waive the same except
for one lender from whom no communication has been received.
6. Deferred tax assets as per AS-22 has not been recognised and
carried forward in view of absence of reasonable certainty about the
sufficient future taxable income.
7. Sundry creditors due to Small Scale Industries as on 31st March
2011 is nil.
8. The Company's accumulated loss as at 31st March,2011 far exceeds
its paid up capital and reserves as at that date. The Company's
business operations have also thinned down due to paucity of working
capital. Since the Directors are looking for right opportunity to
explore the similar line of business activity, the Directors consider
that it is appropriate to prepare the financial statements on a going
concern basis.
9. Contigent Liabilities:
ESI Demand not acknowledged on debt
and to the extent not Provided for Rs. 676777/-
Less : Amount deposited and
shown as recoverable Rs. 338390/-
Balance Rs. 338387/-
10. Disclosure of related parties/ related party transactions:
A) Associates HCL Corporation Ltd.
B) Key management personnel
Mr. Neelesh Agarwal, Director
Mr. P. S. Ravishankar, Director
Mr. Suresh Chand Sharma, Director
Ms. Chitra Saluja, Company Secretary
11. Previous year's figures have been regrouped/rearranged wherever
necessary to conform to current year's presentation.
Mar 31, 2010
1. The amounts due from ex-directors Rs. 1,30,923/- (Previous year Rs
1,30,923/-) included under Advances recoverable in cash or kind
represent the excess Managerial remuneration paid to the ex-directors
for the period 1st October 1988 to 31st March, 1989 that requires the
approval of the Central Government and in respect of which an
application made is pending.
2. The accumulated losses as on 31 st March, 2010 have exceeded the
paid up capital and Reserves of the company. Considering the future of
the products in which company was dealing, the management is of the
view that the provision of The Sick Industrial Companies (Special
Provisions)Act, 1985 are not applicable to the Company.
i. Depreciation has been provided on straight line basis:
(i) In respect of assets acquired prior to 2nd May, 1987 in accordance
with the provisions of section 205 (2) (b) of the Companies Act, 1956,
and the Circular No. 1/86- CLV No. 15 (50) 84-CL, VI dated 21.5.1986
issued by the Department of Company Affairs.
(ii) In respect of assets acquired after 1st May, 1987, in accordance
with the rates prescribed in Schedule XIV to the Companies Act, 1956.
3. No Confirmation has been received in respect of one intercorporate
loan of Rs. 89,10,000/- outstanding as at 31st March, 2010.
4. The Company has not provided interest on the inter- corporate loans
of Rs. 9,83,12,181/- as the lenders have agreed to waive the same
except for one lender from whom no communication has been received.
5. Deferred tax assets as per AS-22 has not been recognised and
carried forward in view of absence of reasonable certainty about the
sufficient future taxable income.
6. Sundry creditors due to Small Scale Industries as on 31st March
2010 is nil.
7. The Companys accumulated loss as at 31 st March,2010 far exceeds
its paid up capital and reserves as at that date. The Companys
business operations have also thinned down due to paucity of working
capital. Since the Directors arc looking for right opportunity to
explore the similar line of business activity, the Directors consider
mat it is appropriate to prepare the financial statements on a going
concern basis.
8. Contigent Liabilities:
ESI Demand not acknowledged on debt
and to the extent not provided for : Rs. 6,76,777/
Less : Amount deposited and shown
as recoverable : Rs. 3.38.390/-
Balance : Rs. 3.38.387/
9. Disclosure of related parties/ related party transactions:
A) Associates : HCL Corporation Ltd.
B) Key management personnel
: Mr. Neelesh Agarwal, Director
: Mr. P. S. Ravishankar, Director
: Mr. Suresh Chand Sharma, Director
: Ms. Chitra Saluja, Company Secretary
10. Previous years figures have been regrouped/rearranged wherever
necessary to conform to current years presentation.