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Notes to Accounts of Netlink Solutions (India) Ltd.

Mar 31, 2014

1) Contingent liabilities not provides for :

Income tax demand & disputes pending before appellate authorities Rs. Nil (Previous Year Rs. Nil-)

2) Related party disclosures (as identified by the Management) as required by Accounting Standard 18 are given below:

a) Names of related parties and description of relationship.

(i) Key Management Personnel & their relatives

(1) Mr. Minesh V. Modi Director Whole time director

(2) Ms. Rupa M. Modi Director Director (ii) Relative of Key Management Personnel :- Nil

(iii) Other related parties where common control exists (1) Aditya Fincap Private Limited.

3) The figures for the previous year have been regrouped, rearranged, wherever necessary, so as to make them comparable with those for the current year.


Mar 31, 2013

1) Contingent liabilities not provides for :

Income tax demand & disputes pending before appellate authorities Rs. Nil (Previous Year Rs. Nil-)

2) Related party disclosures (as identified by the Management) as required by Accounting Standard 18 are given below:

a) Names of related parties and description of relationship.

(i) Key Management Personnel & their relatives

(1) Mr. Minesh V. Modi Director Whole time director

(2) Ms. Rupa M. Modi Director Executive Director (ii) Relative of Key Management Personnel:- Nil

(iii) Other related parties where common control exists (1) Aditya Fincap Private Limited.

3) None of the directors and/or employees are receiving salary either for part of the year or for the full year in excess of limit prescribed u/s. 217 (2A) of the Companies Act.

4) The figures for the previous year have been regrouped, rearranged, wherever necessary, so as to make them comparable with those for the current year.


Mar 31, 2012

1 SHARE CAPITAL

a) Terms/rights attached to equity Shares :

The Company has only one class of Share capital i.e. equity shares having face value of Rs. 1/ per share. Each holder of equity shares is entitled to one vote per share.

2) Contingent liabilities not provides for:

Income tax demand & disputes pending before appellate authorities Rs. Nil (Previous Year Rs. Nil/-)

3) The deferred tax liability has been accounted by using the tax rates announced in the Finance Bill, 2005 in accordance with Accounting Standard 22 issued by The Institute of Chartered accountant of India.

4) Related party disclosures (as identified by the Management) as required by Accounting Standard 18 are given below.

a) Names of related parties and description of relationship.

(i) Key Management Personnel & their relatives

(1) Mr. Minesh V. Modi Whole Time Director

(2) Ms. Rupa M. Modi Executive Director

(ii) Relative of Key Management Personnel:- Nil

(iii) Other related parties where common control exists

(1) Aditya Fincap Private Limited.


Mar 31, 2011

1) Contingent liabilities not provides for:

Income tax demand & disputes pending before appellate authorities Rs. Nil (Previous Year Rs. Nil-)

2) The deferred tax liability has been accounted by using the tax rates announced in the Finance Bill, 2005 in accordance with Accounting Standard 22 issued by The Institute of Chartered accountant of India.

3) Related party disclosures (as identified by the Management) as required by Accounting Standard 18 are given below: a) Names of related parties and description of relationship.

(i) Key Management Personnel & their relatives

(1) Mr. Minesh V. Modi Whole time director

(2) Ms. Rupa M. Modi Director

(ii) Relative of Key Management Personnel :- Nil

(iii) Other related parties where common control exists

(1) Aditya Fincap Private Limited.


Mar 31, 2010

1) Contingent liabilities not provides for :

Income tax demand & disputes pending before appellate authorities Rs. Nil (Previous Year Rs. Nil-)

2) The deferred tax liability has been accounted by using the tax rates announced in the Finance Bill, 2005 in accordance with Accounting Standard 22 issued by The Institute of Chartered accountant of India.

3) Related party disclosures (as identified by the Management) as required by Accounting Standard 18 are given below:

a) Names of related parties and description of relationship.

(i) Key Management Personnel & their relatives

(1) Mr. Minesh V. Modi Whole time director

(2) Ms. Rupa M. Modi Director

(ii) Relative of Key Management Personnel :- Nil

(iii) Other related parties where common control exists

(1) Aditya Fincap Private Limited.


Mar 31, 2003

1. During the year the name of the Company has been changed from VGR CONSTRUCTION LIMITED to NETLINK SOLU- TIONS (INDIA) LIMITED.

2. Contingent liabilities does not provides for:

Income tax demand disputed and pending before appellate authories Rs. 5,01,261/- (Previous year Rs. 5,01,261/-)

3. Related Party disclosures as required by Accounting Standard 18 are given below :

a) Names of related parties and description of relationship.

i) Key Management Personnel & their relatives

(1) Mr. Umesh V. Modi Director

(2) Mr. Minesh V. Modi Chairman

ii) Relative of Key Management Personnel

(1) Mrs. Manisha U. Modi

iii) Other related parties where common control exists

(1) Aditya Fincap Private Limited.

b) Related party transactions.

4. Other Information

The Company is engaged in the development of 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 the information as required under paragraphs 3 and 4C of part of Schedule VI of the Companies Act, 1956

5. Previous year figures have been regrouped and rearranged wherever necessary to make them comparable.

6. During the year the company has purchased and sold 233627 (Previous year 356815) equity shares having purchase cost of Rs. 1.28 crores. (Previous year Rs. 1.08 crores).

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