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Notes to Accounts of Optiemus Infracom Ltd.

Mar 31, 2015

Note:1 Disclosure under Accounting Standard 17 - Segment Reporting Segment Information

The Company has identified business segments. Business segments are primarily Mobile & Mobile Accessories and Renting of Immovable Property. Revenues and expenses directly attributable to segments are reported under each reportable segment. Expenses which are not directly identifiable to each reportable segment have been allocated on the basis of associated revenues of the segment and manpower efforts. All other expenses which are not attributable or allocable to segments have been disclosed as unallowable expenses. Assets and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment. All other assets and liabilities are disclosed as unallowable. Fixed Assets that are used interchangeably amongst segments are not allocated to primary and secondary segments.

Note:2 Disclosure relating to AS-15 (Revised) - Employees Benefits:-

(a) Provident Fund - 12% of Basic (including dearness pay) plus Dearness Allowance, contributed to Recognised Provident Fund

(b) Gratuity- Payable on separation @ 15 days pay for each completed year of service to eligible employees who render continuous service for 5 years or more. Maximum limit is Rs.10.00 lakh.

In terms of Accounting Standard 15 ( Revised) on Employees Benefits, the following disclosure sets out the status as required:-

Disclosure as per Accounting Standard 19 - Lease

Company's significant leasing arrangements are in respect of operating leases for premises (office, stores, warehouses etc.). The group has entered into agreement to take certain land and building on operating lease for warehousing activities from a third party during the year. These leasing arrangements which are not non-cancellable, range between 3 years and 05 years generally, or longer, and are usually renewable by mutual consent on mutually agreeable terms. The lease rent of Rs. 3.36 crores (2013-14 Rs. 3.56 Cr) on such lease is included in Rent "Company has also given certain land and building on operating lease to a third party. The lease arrangement was for a period of 9 years, including a non-cancellable term of 3 years. The rental of Rs. 37.56 Crores (2013-14 - Rs. 18.18 Crores) on such lease is included in other operating revenue. With respect to non-cancellable period of the operating lease, the future minimum lease license fee receivable is Rs. 53.04 Crores.


Mar 31, 2014

Note:1

Disclosure under Accounting Standard 17 - Segment Reporting Segment Information

The Company has identified business segments as its primary segment and geographic segments as its secondary segment. Business segments are primarily Mobile & Mobile Accessories and construction of Road and Highways business. Revenues and expenses directly attributable to segments are reported under each reportable segment. Expenses which are not directly identifiable to each reportable segment have been allocated on the basis of associated revenues of the segment and manpower efforts. All other expenses which are not attributable or allocable to segments have been disclosed as unallocable expenses. Assets and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment. All other assets and liabilities are disclosed as unallocable. Fixed Assets that are used interchangeably amongst segments are not allocated to primary and secondary segments.

Note:2 Disclosure under Accounting Standard 7 - Construction Contract

The company follows the "percentage of Completion method" of accounting for all contracts in accordance with "Accounting Standard - 7" - "Accounting for Construction Contract" issued by the Institute of Chartered Accountants of India. The revenue from the execution of contracts is recognised proportionately with the degree of completion achieved under each contracts, matching revenue with expenses incurred and after considering the total contracts value and associated costs.


Mar 31, 2013

Note:1

Disclosure under Accounting Standard 17 - Segment Reporting

Segment Information

The Company has identifed business segments as its primary segment and geographic segments as its secondary segment. Business segments are primarily Mobile & Mobile Accessories and construction of Road and Highways business. Revenues and expenses directly attributable to segments are reported under each reportable segment. Expenses which are not directly identifable to each reportable segment have been allocated on the basis of associated revenues of the segment and manpower efforts. All other expenses which are not attributable or allocable to segments have been disclosed as unallocable expenses. Assets and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment. All other assets and liabilities are disclosed as unallocable. Fixed Assets that are used interchangeably amongst segments are not allocated to primary and secondary segments.

Note:2

Disclosure relating to AS-15 (Revised) - Employees Benefts:-

( a) Provident Fund - 12% of Basic (including dearness pay) plus Dearness Allowance, contributed to Recognised Provident Fund

( b) Gratuity- Payable on separation @ 15 days pay for each completed year of service to eligible employees who render continuous service for 5 years or more. Maximum limit is Rs. 10.00 lakh.

- In terms of Accounting Standard 15 (Revised) on Employees Benefts, the following disclosure sets out the status as required:-


Mar 31, 2012

Note:1

Disclosure under Accounting Standard 17 - Segment Reporting

Segment Information

The Company has identified business segments as its primary segment and geographic segments as its secondary segment. Business segments are primarily Mobile & Mobile Accessories and construction of Road and Highways business. Revenues and expenses directly attributable to segments are reported under each reportable segment. Expenses which are not directly identifiable to each reportable segment have been allocated on the basis of associated revenues of the segment and manpower efforts. All other expenses which are not attributable or allocable to segments have been disclosed as unallocable expenses. Assets and liabilities that are directly attributable or allocable to segments are disclosed under each reportable segment. All other assets and liabilities are disclosed as unallocable. Fixed Assets that are used interchangeably amongst segments are not allocated to primary and secondary segments.

Note:2

Disclosure under Accounting Standard 7 - Construction Contract

The company follows the "percentage of Completion method" of accounting for all contracts in accordance with "Accounting Standard - 7" - "Accounting for Construction Contract" issued by the Institute of Chartered Accountants of India. The revenue from the execution of contracts is recognised proportionately with the degree of completion achieved under each contracts, matching revenue with expenses incurred and after considering the total contracts value and associated costs.


Mar 31, 2010

1. Nature of Operations

The Company is primarily engaged in the trading of Mobile handset and mobile accessories and construction of road and highways business etc.

2. Segment Information

Primary segments: Business Segments

The Company is engaged in the Telecommunications - Mobiles business and Information Technology business and Contractor business. Telecommunications-Mobiles segment represents the business of trading of mobile handsets and Information Technology business represents the business of trading, installation/erection and networking of computer hardware including maintenance and servicing thereof and Contractor business represent construction of road, highways etc..

Secondary Segments: Geographical Segment

The analysis of geographical segment is based on geographical location of the customers.

3. Contingent Liability

Contingent liabilities are not provided for and are disclosed by way of notes:

Other Contingent Liabilities

(i) Sales Tax case pending for 1999-2000 involving demand of Rs. 669979/-

(ii) Sales tax case pending for 2000-2001 involving demand of Rs. 168484/-

(iii) Sales tax case pending for 2001-2002 involving demand of Rs. 224568/-

(iv) Sales Tax case pending for 2007-2008 involving demand of Rs. 6118/-

(v) Sale Tax case pending for 2008-2009 involving demand of Rs 7683242/-

(vi) Sale Tax case pending for 2009-2010 involving demand of Rs 525145/-

4. Segment information

The following table presents segment revenues, results, assets and liabilities in accordance with AS-17

5. Accounting for Amalgamation

(i) During the year, a company M/s A. Design and Details (Interiors & Infrastructure) Private Limited, M/s Mach Communications Private Limited ,M/s Mo-life Communication (India) private Limited , M/s Mo-Life Retails Private Limited , M/s Pacific (I) net support Private Limited ,M/s Redical Softnet Private Limited and M/s Telemart Communication (India) private Limited ( i.e. called transferor companies) was merged with M/s Akanksha Cellular limited (Transferee Company) as per the scheme of Amalgamation approved by the Honble High court at New Delhi

(ii) Certificate copy of the order of Honble High court at New Delhi was filed on dated 10/03/2011 with the registrar of companies, NCT of Delhi and Haryana by erstwhile transferor company and Transferee Company.

(iii) Pursuant to the scheme of amalgamation, the Transferee Company has agreed to allot 63743841 equity shares fully paid up of Rs 10/- each to equity shareholders of the transferor companies.

(iv) As per clause 3.18 of part-II of the scheme of amalgamation, the business carried on by the transferor company from the appointed date til the effective date is carried on for and on behalf of the transferee company and all profits accruing to the transferor companies are profits of the transferee company . therefore, the profits of the transferor companies from 1st April2009 to 31st March2010 are reflected in the profit & loss a/c of the transferee company .Various items of income and expenditure of the company include corresponding figures of erstwhile transferor companies. The corresponding figures of assets and liabilities of the transferor companies as on 31st march2010 have merged with the assets and liabilities of the transferee company.

(v) Pursuant to the scheme of amalgamation as approved , the transferee company has taken over the entire business of erstwhile transferor companies including all assets, liabilities obligations etc. And the same has been given effect to in the accounts subject to and read with clause (iv) above , on a pooling of interest basis as prescribed by Accounting Standard (AS-14) issued by the institute of chartered accountants of India. In view of this , the figures for the current year represent the operations of the company including the operations of erstwhile transferor company whereas the figures of the previous year represent figures relating to the operations of the transferee company only. To this extent the figures for the current year are not comparable with the figures of the previous year

6. Previous period comparatives

i) Previous periods figures have been regrouped where necessary to conform to current periods classification.

ii) The figures for the current year represent the operations of the company including the operations of erstwhile transferor companies whereas the figures of the previous year represent figures relating to the operations of the transferee company only. To this extent the figures for the current year are not comparable with the figures of the previous year.

iii) Schedule A to U from an integral part of the Balance sheet as at 31st March 2010 and the profit and loss account for the year ended 31st March 2010.

iv) Part IV of schedule VI of the Companies Act, 1956 is attached herewith.

 
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