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Notes to Accounts of LCC Infotech Ltd.

Mar 31, 2015

1. Terms / Rights attached to the equity shares

The Company has only one class of equity shares having par value of Rs.2 per share. Each holder of equity shares is entitled to one vote per share.

2. The Company has only one business segment and its operations are also confined to one geographical segment i.e. India. As such, no further disclosure under Accounting Standard 17 "Segment Reporting" is required.

3. In terms of Accounting Standard 18, notified by the Companies accounting Standard Rules 2006, the related party disclosure is given below:-

(a) Name of the related parties & description of relationship Subsidiary Company

eLCC Info.Com Limited

Enterprises owned or significantly influenced by key management personnel or their relatives

Advertiser's Advertising Agency Limited

Key Management Personnel

Mrs. Kirti Lakhotia (Managing Director)

Mr. Sidharth Lakhotia (Director)

Mr. Pratik Lakhotia (Director)

4. Deferred Tax Assets has not been recognized in these accounts in view of the Accounting Policy specified in Note no. 1 (K).

5. Previous Year's figures has been regrouped and rearranged wherever necessary.


Mar 31, 2014

1. The Company has only one business segment and its operations are also confined to one geographical segment i.e. India. As such, no further disclosure under Accounting Standard 17 "Segment Reporting" is required.

2. Deferred Tax Asset has not been recognized in these accounts in view of the Accounting Policy specified in Note no. 1(viii).

3. Previous Year''s figures has been regrouped / rearranged wherever necessary.


Mar 31, 2013

1. The Company has only one business segment and its operations are also confined to one geo- graphical segment i.e. India. As such, no further disclosure under Accounting Standard 17 "Segment Reporting" is required.

2. In terms of Accounting Standard 18, notified by the Companies Accounting Standard Rules, 2006, the related party disclosure is given below:-

(a) Name of the related parties & description of relationship Subsidiary Company eLCC Info.Com Limited

Enterprises owned or significantly influenced by key management personnel or their relatives

Advertiser''s Advertising Agency Limited

Key Managerial Personnel

Mrs. Kirti Lakhotia (Managing Director) Mr. Sidharth Lakhotia (Director) Mr. Pratik Lakhotia (Director)

3. Deferred Tax Asset has not been recognized in these accounts in view of the Accounting Policy specified in Note no. 1(viii).

4. Additional information pursuant to the provisions of Part -II of Schedule - VI to the Companies Act, 1956.

5. In terms of the existing agreements with various franchisees, the Company is entitled to a royalty income based on a percentage of gross collections of these franchisees. The Company has however accounted for its income as "Gross Collection from Franchisees" based on state- ments received from franchisees.

6. Previous Year''s figures has been regrouped / rearranged wherever necessary.


Mar 31, 2012

1. Additional information pursuant to the provisions of Part -II of Schedule - VI to the Companies Act, 1956.

Note. Closing stock of Computers has been converted to Fixed Assets during the year.

2. The total amount of Directors' Remuneration charged in these accounts is Rs.1620 thou- sands (2011 - Rs. 1560 thousands) under salary head in Personnel.

3. Related Party Disclosures, as required by AS - 18 'Related Party Disclosures' are given below:

I Relationships

a) Where control exists eLCC Info. Com Limited Advertiser's Advertising Agency Limited

b) Key Management Personnel

Mrs. Kirti Lakhotia Advertiser's Advertising agency Limited,

eLCC Info.com Limited

Mr. Sidharth Lakhotia Advertiser's Advertising agency Limited,

eLCC Info.com Limited.

Mr. Pratik Lakhotia Advertiser's Advertising agency Limited,

eLCC Info.com Limited.

4. In terms of the existing agreements with various franchisees, the Company is entitled to a royalty income based on a percentage of gross collections of these franchisees. The Company has however accounted for its income as "Gross Collection from Franchisees" based on state- ments received from franchisees.

5. Previous years' figures have been rearranged/regrouped where ever considered necessary.


Mar 31, 2010

1. The Company was registered as a Non Banking Financial Company with the Reserve Bank of India. Consequent to the alteration of the object clause of the Memorandum of Association B45 of Association of the Company and the acquisition of business of the Lakhotia Computer Centre, the Company is no longer a Non Banking Financial Company and has applied to the Reserve Bank of India for deregistration. Necessary approval of the Reserve Bank of India is awaited.

2. In the absence of latest audited accounts, it has not been possible to ascertain the break up value of certain long term unquoted Investments (Book Value - Rs. 1,94,623 thousands, 2009 - Rs 1,94,600 thousands) and its consequential effect on carrying value. In respect of quoted Investment i.e. Equity Share and Mutual Fund no provision has been made in the accounts for diminution in value to the tune of Rs 1819 thousand and Rs. 12 thousand respectively.

3. Consequent to the issuance of mandatory Accounting Standard (AS-22) - "Accounting for taxes on Income" by the Institute of Chartered Accountants of India which states that deferred tax should be recognized based on timing difference between the accounting income and the taxable income for the year and quantify the same using the tax rates and laws enacted or substantively enacted as at the Balance Sheet date. Deferred tax assets are recognised and carried forward only to the extent that there is virtual certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. However there is no such virtual certainty for future taxable income, so no provision has been made in the books.

4. Estimated amount of contracts remaining to be executed on Capital account (Net of Advances) Rs. Nil (2009 - Rs. Nil)

5. Liability of Contingent in Nature was not readily available (2009 - Rs Nil)

6. FOB value of exports Rs Nil (2009 - Rs Nil)

7. Expenditure in foreign Currency Rs. Nil (2009 - Rs. Nil)

8. The total amount of Directors' Remuneration charged in these accounts is Rs. 1560 thousands (2009 - Rs. 480 thousands) under salary head in Personnel.

9. There is no small-scale industrial undertaking on the basis of information available with the company to whom the company owes a sum, which is outstanding for more than 30 days as at the balance sheet date.

10. Related Party Disclosures, as required by AS - 18 'Related Party Disclosures' are given below:

I Relationships

a) Where control exists eLCC Info. Com Limited Advertiser's Advertising Agency Limited

b) Key Management Personnel

Mrs. Kirti Lakhotia Advertiser's Advertising agency Limited (For-

merly known as Lakhotia Computer Centre Limited, eLCC Info.com Limited

Mr. Sidharth Lakhotia Advertiser's Advertising agency Limited (For-

merly known as Lakhotia Computer Centre Limited, eLCC Info.com Limited.

Mr. Pratik Lakhotia eLCC Info.com Limited

II Related Party Balance as at the year-end

eLCC Info.Com Ltd. Advertiser's Advertising agency Limited

(Formerly known as Lakhotia Computer Centre Limited, Advance (in Rs.) 89,70,498.00 (Cr.) 31,41,652.75 (Dr.)

III Transactions with Key Management Personnel Remuneration (in Rs.) 480 thousands

11. Calculations in respect of earning per Share as required by Accounting standard (AS-20) issued by the ICAI.

31.03.2010 31.03.2009

Net Profit as per Profit & loss Account Rs. in thousands 326 215

No. of Equity Shares Nos. 126593350 126593350

Earnings per Share (Basic & Diluted) Rs 0.0026 0.00170

12. In terms of the existing agreements with the various franchisees, the Company is entitled to a royalty income based on a percentage of gross collections of these franchisees. The Company has however accounted for its income as "Collection from Franchisee Centres" based on state- ments received from franchisees.

13. Previous years' figures have been rearranged/regrouped where ever considered necessary.


Mar 31, 2009

1. The Company was registered as a Non Banking Financial Company with the Reserve Bank of India. Consequent to the alteration of the object clause of the Memorandum of Association B45 of Association of the Company and the acquisition of business of the Lakhotla Computer Centre, the Company is no longer a Non Banking Financial Company and has applied to the Reserve Bank of India for deregistration. Necessary approval of the Reserve Bank of India is awaited.

2. In the absence of latest audited accounts, it has not been possible to ascertain the break up value of certain long term unquoted Investments (Book Value - Rs. 1,84,963 thousands, 2008 - Rs 1,84,963 thousands) and its consequential effect on carrying value. In respect of quoted Investment I.e. Equity Share no provision has been made in the accounts for diminution in value to the tune of Rs 3919 thousand.

3. Consequent to the issuance of mandatory Accounting Standard (AS-22) - "Accounting for taxes on Income" by the Institute of Chartered Accountants of India which states that deferred tax should be recognized based on timing difference between the accounting income and the tax- able income for the year and quantify the same using the tax rates and laws enacted or substan- tively enacted as at the Balance Sheet date. Deferred tax assets are recognised and carried forward only to the extent that there is virtual certainty that sufficient future taxable income will be available against which such deferred tax assets can be realised. However there is no such virtual certainty for future taxable income, so no provision has been made in the books.

4. Estimated amount of contracts remaining to be executed on Capital account (Net of Advances) Rs. Nil (2008 - Rs. Nil)

5. Liability of Contingent In Nature was not readily available (2008 - Rs Nil)

6. FOB value of exports Rs Nil (2008 - Rs Nil)

7. Expenditure in foreign Currency Rs. Nil (2008 - Rs. Nil)

8. The total amount of Directors Remuneration charged In these accounts Is Rs. 480 thousands (2008 - Rs. 270 thousands) under salary head in Personnel.

9. There is no small-scale Industrial undertaking on the basis of Information available with the company to whom the company owes a sum, which Is outstanding for more than 30 days as at the balance sheet date.

10. Related Party Disclosures, as required by AS - 18 Related Party Disclosures are given below:

I Relationships

a) Where control exists eLCC Info. Com Limited Advertisers Advertising Agency Limited

b) Key Management Personnel

Mrs, Klrtl Lakhotia

Advertisers Advertising agency Limited (For- merly known as Lakhotia Computer Centre Limited, eLCC lnfo.com Limited

Mr. Sldharth Lakhotia

Advertisers Advertising agency Limited (For- merly known as Lakhotia Computer Centre Limited, eLCC Info.com Limited.

Mr. Pratlk Lakhotia

eLCC Info.com Limited

II Related Party Balance as at the year-end

eLCC Info.Com Ltd. Advertisers Advertising agency Limited

(Formerly known as Lakhotia Computer Centre Limited,

11. In terms of the existing agreements with the various franchisees, the Company is entitled to a royalty income based on a percentage of gross collections of these franchisees. The Company has however accounted for its income as "Collection from Franchisee Centres" based on state- ments received from franchisees.

12. Previous years figures have been rearranged/regrouped where ever considered necessary.

 
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