Mar 31, 2015
1 Corporate information
Prithvi Softech Limited (L30006TN1995PLC031931), a public limited
company incorporated under Companies Act, is licensed by RBI to
function as Authorised dealer Category II. Prithvi Softech Limited
operates under the brand name of "PRITHVI EXCHANGE" which conveys the
company's line of business i.e. Money Exchange. The company deals in
all tradeable foreign currencies, traveller cheques, drafts and swift
transfers. At present the company has 15 branches spread in the state
of TamilNadu, Karnataka, Andhra Pradesh and Gujarat.
Prithvi Exchange is also an authorised agent to receive Money Transfer
send through Western Union Money Transfer, Money Gram and Xpress Money.
2 Disclosures required under Section 22 of the Micro, Small and Medium
Enterprises Development Act, 2006
The company has not received any intimation from suppliers regarding
their status under the Micro, Small and Medium Enterprises Development
Act,2006 and Hence, disclosure, if any, relating to amout unpaid as at
the year end together with interest paid/payable as required under the
said Act have not been given.
3 Employee benefits
Regular contributions are being made towards the Provident fund and the
same has been charged to revenue. The company has provided for
employees gratuity, leave encashment or any other benefits of similar
nature on estimated basis.
4 Segment information
The Company operates mainly in a single segment i.e trading of foreign
currencies and hence not call for seg- mentwise disclosure of assets,
liabilities, revenues or expenses as prescribed under Accounting
Standard 17 on "Segment Reporting" issued by ICAI
Mar 31, 2014
1 Corporate information
Prithvi Softech Limited, a public limited company incorporated under
Company Act, is licensed by RBI to function as Authorised Dealer
Category II. Prithvi Softech Limited operates under the brand name of
"PRITHVI EXCHANGE" which conveys the company''s line of business i.e.
Money Exchange. The company deals in all tradable foreign currencies,
traveller cheques, drafts and swift transfers. At present the company
have 15 branches spread in the state of TamilNadu, Karnataka, Andhra
Pradesh and Gujarat.
Prithvi Exchange is also the authorised agent to receive Money Transfer
send through to Western Union Money Transfer, Money Gram and Xpress
Money.
As at As at
2 Contingent liabilities and commitments
(to the extent not 31 March, 2014 31 March, 2013
provided for) INR INR
(i) Contingent liabilities
(a) Claims against the Company not
acknowledged as debt 12.15 Lakhs 12.15 Lakhs
- Disputed Income tax demands appealed against, not provided for :
3 Disclosures required under Section 22 of the Micro, Small and Medium
Enterprises Development Act, 2006
The company has not received any intimation from suppliers regarding
their status under the Micro, Small and Medium Enterprises Development
Act,2006 and Hence, disclosure, if any, relating to amout unpaid as at
the year end together with interest paid/payable as required under the
said Act have not been given.
Particulars
4 Employee benefit plans
4.1.a Defined contribution plans
The Company makes Provident Fund and other Fund contributions to
defined contribution plans for qualifying employees. Under the Schemes,
the Company is required to contribute a specified percentage of the
payroll costs to fund the benefits. The Company recognised INR
14,29,333/- (Year ended 31 March, 2013 INR 14,05,134/-) for Provident
Fund and other fund contributions in the Statement of Profit and Loss.
The contributions payable to these plans by the Company are at rates
specified in the rules of the schemes.
4.1.b Leave Encashment
The Company provides benefit to employees for leave encashment as per
the scheme laid down.
5 Segment information
The Company operates in a single segment i.e trading of foreign
currencies and hence not call for segmentwise disclosure of assets,
liabilities, revenues or expenses as prescribed under Accounting
Standard 17 on "Segment Reporting", issued by ICAI
Mar 31, 2013
1 Corporate information
Prithvi Softech Limited, a public limited company incorporated under
Company Act, is licensed by RBI to function as Authorised dealer
Category II. Prithvi Softech Limited operates under the brand name of
"PRITHVI EXCHANGE" which conveys the company''s line of business i.e.
Money Exchange. The company deals in all tradable foreign currencies,
traveller cheques, drafts and swift transfers. At present the company
have 15 branches spread in the state of TamilNadu, Karnataka, Andhra
Pradesh and Goa.
Prithvi Exchange is also the authorised agent to receive Money Transfer
send through to Western Union Money Transfer, Money Gram and Xpress
Money.
Note 2 Disclosures required under Section 22 of the Micro, Small and
Medium Enterprises Development Act, 2006
The company has not received any intimation from suppliers regarding
their status under the Micro, Small and Medium Enterprises Development
Act, 2006 and Hence, disclosure, if any, relating to amout unpaid as at
the year end together with interest paid/payable as required under the
said Act have not been given.
Note 3 Employee benefit plans
3.1.a Defined contribution plans
The Company makes Provident Fund and other Fund contributions to
defined contribution plans for qualifying employees. Under the Schemes,
the Company is required to contribute a specified percentage of the
payroll costs to fund the benefits. The Company recognised INR
14,05,134/- (Year ended 31 March, 2012 INR 6,03,693/-) for Provident
Fund other other fund contributions in the Statement of Profit and
Loss. The contributions payable to these plans by the company are at
rates specified in the rules of the schemes.
3.1.b Leave Encashment
The Company provides benefit to employees for leave encashment as per
the scheme laid down.
Note 4 Segment information
The Company operates in a single segment i.e trading of foreign
currencies and hence not call for segmentwise disclosure of assets,
liabilities, revenues or expenses as prescribed under Accounting
Standard 17 on "Segment Reporting", issued by ICAI.
Mar 31, 2012
1 Corporate information
'Prithvi Softech Limited, a public limited company incorporated under
Company Act, is licensed by RBI to function as Authorised Dealer
Category - II. Prithvi Softech Limited operates under the brand name of
"PRITHVI EXCHANGE" which conveys the company's line of business i.e.
Foreign Exchange. The company deals in all tradable foreign currencies,
traveller cheques, drafts and swift transfers. At present we have 15
branches spread in the state of TamilNadu, Karnataka, Andhra Pradesh
and Goa.
'Prithvi Exchange is also the authorised agent to receive Money
Transfer sent through Western Union Money Transfer, Money Gram and
Xpress Money.
2 Abridged financial statement
The abridged financial statements have been prepared pursuant to Rule
7A of the Companies (Central Government's) General Rules and Forms,
1956 as per notification F.No. 17/51/2012-CL-V, dated May 31, 2012 and
are based on the annual financial statements for the year ended March
31, 2012 approved by the Board of Directors at their meeting held on
May,30 2012.
3. Contingent liabilities and commitments (to the extent not provided
for)
(i) Contingent liabilities(Refer No. 23 of Financial Statements)
(a) Claims against the Company not acknowledged as debt
(i) Disputed Income tax demands appealed against,
not provided for : 12.15 Lakhs 24.76 Lakhs
4. Disclosures required under Section 22 of the Micro, Small and
Medium Enterprises Development Act, 2006 (Refer No. 24 of Finanical
Statements)
The company has not received any intimation from suppliers regarding
their status under the Micro, Small and Medium Enterprises Development
Act, 2006 and Hence, disclosure, if any, relating to amount unpaid as
at the year end together with interest paid/payable as required under
the said Act have not been given.
5. Employee benefit plans(Refer No.27 of financial statements)
5.1.a Defined contribution plans
The Company makes Provident Fund and other Fund contributions to
defined contribution plans for qualifying employees. Under the Schemes,
the Company is required to contribute a specified percentage of the
payroll costs to fund the benefits. The Company recognised INR 603693
(Year ended 31 March, 2011 INR 626703) for Provident Fund and other
fund contributions in the Statement of Profit and Loss. The
contributions payable to these plans by the Company are at rates
specified in the rules of the schemes.
5.1.b Leave Encashment
The Company provides benefit to employees for leave encashment as per
the scheme laid down.
5.1.c Grautity
The Company provides grautiy to the employees on estimated basis and is
unfunded.
6. Segment information(Refer No.28 of financial statements)
The Company operates in a single segment i.e trading of foreign
currencies and hence not call for segmentwise disclosure of assets,
liabilities, revenues or expenses as prescribed under Accounting
Standard 17 on "Segment Reporting", issued by ICAI
7. The Revised Schedule VI has become effective from 1 April, 2011
for the preparation of financial statements. This has significantly
impacted the disclosure and presentation made in the financial
statements. Previous year's figures have been regrouped / reclassified
wherever necessary to correspond with the current year's classification
/ disclosure. (Refer no. 32 of financial statements)
Mar 31, 2011
1 Segment Reporting
The company operates in a single segment i,e trading of foreign currencies and
hence does not calls for segmentwise disclosure of assets,liabilities,revenues
or expenses as prescribed under Accounting Standard 17 on "Segment Reporting",
issued by the Institute of Chartered Accountants of India.
2 Disclosure requirement regarding Micro, Small & Medium Scale Enterprises
The company has not received any intimation from suppliers regarding
their status under the Micro, Small and Medium Enterprises Development Act,
2006 and Hence, disclosure, if any, relating to amount unpaid as at the year
end together with interest paid/ payable as required under the said Act
have not been given.
3 Contingent Liabilities
Year ended Year ended
March 31, 2011 March 31, 2010
(a) Disputed Income tax demands appealed
against, not provided for : 24.76 Lakhs 12.15 Lakhs
4 No further information pursuant to paragraphs 4C & 4D of Schedule VI
of the Companies Act,1956 is either NIL or Not Applicable.
5 Previous year's figures have been regrouped and rearranged wherever
found necessary.
Mar 31, 2010
1 Contingent Liabilities
(a) Disputed Income tax demands appealed against, not
provided for: 12.15 Lakhs 20.72 Lakhs
2. Related Party Disclosure
A. Manegerial Personel
Name Relationship
Mr.Delichand Jain Chairman
Dr.Ashok Kumar Kavad . Managing Director
Mr.M.D Vasudevan Director
M.RV.GVenkadri Director
Mr.V.Krishnaswami Director
3. No further information pursuant to paragraphs 4C & 4D of Schedule VI
of the Companies Act,1956 is either NIL or Not Applicable.
4. Previous years figures have been regrouped and rearranged wherever
found necessary.
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