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Notes to Accounts of Quantum Digital Vision (India) Ltd.

Mar 31, 2014

A. Terms & Rights attached to Shares

i. Equity Shares

The company has one class of equity shares having a par value of '' 10 each. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amounts, in proportion to their shareholding.

ii. 0.5% Non Cumulative Redeemable Preference Shares

0.5% Non Cumulative Redeemable Preference shares would be redeemable at the option of the company at any time within a period of 20 years from the date of issue. These shares would carry a fixed non-cumulative dividend of 0.5% per annum. 14,60,000 shares were alloted through Board meeting held on 25th February, 2014 and pursuant to special resolution passed at Extra ordinary General meeting of the company held on 10th February,2014

1. The Company is a Sick Industrial company within the meaning of clause (o) of sub-section (i) of section 3 of the Sick Industrial Companies (Special Provisions) Act 1985.

2. Contingent Liabilities:

Particulars As on As on 31/03/2013 31/03/2014 (Rs) (Rs)

i) Excise duty under adjudication 854736 854736

ii) Sales Tax under Appeal 473536 473536

Sales Tax under Appeal 103481 103481

iii) (Silvassa)

iv) Income Tax under Appeal 2537354 2537354

v) Bank Guarantee for Electricity 1000000 1000000

vi) Liability on account of non- Amount not Amount not fullfillment of export obligations ascertained ascertained / EPCG Scheme (refer Note below)

The above have not been provided for in the accounts as in the opinion of the company the demands are not sustainable to the company.

3. The company is in the process of identification of micro, small and medium enterprise suppliers as defined under the provisions of "Micro, small and medium enterprises development Act, 2006". The relevant information in this regard shall be given when it is complied

4. The cash flow Statement As per AS 3 is as per Annexure ''A''

5. Related Party information as identified by the management as per Accounting Standard - 18 on ''Related Party Disclosure'' issued by the Institute of Chartered Accountants of India.

Relationships

a) Joint Venture Nil

b) Key Management Personnel

- Mr. Himalay Dassani

- Mr. G. K. Bhandari

- Mr. Rajkishan Singh

c) Enterprise over which key - Genesis E Tech Limited management Personnel exercise - Dreamworks Pictures significant influence or Control

(Formerly Known as - Shrishti Entertainment Pvt. Ltd.)

d) Relatives of Key Management

- Mrs. Bhagyashree Dassani Personnel

- Mr. Abhimanyu Dassani

- Smt. Shakuntala Dassani

- Mr. Pannalal Dassani

- Ms. Avantika Dassani

Note: A related party relationship is as identified by the Company and relied upon by the Auditors.

6. Earning Per Share (EPS) : For calculating EPS Net Profit/(Loss) after Tax as shown in P & L A/c. is taken as numerator and weighted average number of equity shares taken as denominator are 30,35,000 share of Rs.10/- each

7. No disclosure is required under AS-24 on "Discontinuing Operations" issued by the Institute of Chartered Accountants of India as the company has not discontinued any line of its activity/product line during the year.

8. The company is in the process of conducting an exercise for identification of impaired assets, if any, as required AS-28 on "Impairment of Assets" issued by the Institute of Chartered Accountants of India.

9. Disclosure of Derivative Instruments :

During the year the company has not entered into any forward exchange contracts as such there are not outstanding derivative contract as at 31st March, 2013 to be disclosed as per the ICAI announcement.

10. The Company has not appointed a whole time Company Secretary under Section 383A of the Companies Act,1956. However company is trying to fill up the vacancy by finding out a suitable candidate.

11. One of the foreign Machinery supplier, i.e., Glint Global (Unsecured Loans) has also filed a suit against the company. The same has been disputed as the machinery did not comply with the order specification as to origin and quality.


Mar 31, 2013

Note: 1 Corporate information

Quantum Digital Vision (INDIA) Ltd. is a Public Limited Company listed on Bombay Stock Exchange (BSE) in India and incorporated under the provisions of the Companies Act, 1956. The company is engaged in the business of manufacturing of Spring Leaves and assembles, polymer bags, TV Serial and trading in Medicine items

Note : 2 Basis of preparation

These financial statements are prepared in accordance with Indian Generally Accepted Accounting Principles (GAAP) under the historical cost convention on the accrual basis. GAAP comprises mandatory accounting standards as prescribed by the Companies (Accounting Standards) Rules, 2006, the provisions of the Companies Act, 1956 and guidelines issued by the Securities and Exchange Board of India (SEBI). Accouting policies have been consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing accounting standard requires a change in the accounting policy hitherto in use.

3. The Company is a Sick Industrial company within the meaning of clause (p] of sub-section (i) of section 3 of the Sick Industrial Companies (Special Provisions) Act 1985.

4. Contingent Liabilities:

SI Particulars As on 31/03/2013 As on 31/03/2012

i) Excise duty under adjudication 854736 854736

ii) Sales Tax under Appeal 473536 473536

iii) Sales Tax under Appeal (Silvassa) 103481 103481

iv) Income Tax under Appeal 2537354 2537354

vj Bank Guarantee for Electricity 1000000 1000000

vi" Liability on account of non-fullfillment of Amount not Amount not ascertained export obligations / EPCG Scheme ascertained

(refer Note below)*

* Liability on account of non fulfillment of export obligations / EPCG scheme - it is not possible to quantify the above liability at present, the normal procedure is that custom duty is charged on depreciated value on machines at the end of the extended period if further extensions is either not sought or not granted.

The above have not been provided for in the accounts as in the opinion of the company the demands are not sustainable to the company.

5. The balances in respect of Sundry Debtors, Sundry Creditors and other Loans & Advances are subject to confirmation and adjustment necessary upon reconciliation thereof and hire purchase loan from GSFC, Supplier credit machinery import are also subject to confirmation and also including interest provisions if any.

6. Interest on secured loan from financial institutions and interest on imported machinery from M/s. Glint Global (Unsecured Loans) has not provided in the books of accounts for the year under review as well as earlier years also amount unascertained. As a result of these the accumulated loss has been lower stated to that extent.

7.The company is in the process of identification of micro, small and medium enterprise suppliers as defined under the provisions of "Micro, small and medium enterprises development Act, 2006". The relevant information in this regard shall be given when it is complied

8. The cash flow Statement As per AS 3 is as per Annexure ''A''

9. Related Party information as identified by the management as per Accounting Standard - 18 on ''Related Party Disclosure'' issued by the Institute of Chartered Accountants of India.

10. Earning Per Share (EPS): For calculating EPS Net Profit/(Loss) after Tax as shown in P & L A/c. is taken as numerator and weighted average number of equity shares taken as denominator are 98,70,855 share of Rs.10/- each

11. No disclosure is required under AS-24 on "Discontinuing Operations" issued by the Institute of Chartered Accountants of India as the company has not discontinued any line of its activity/product line during the year.

12. The company is in the process of conducting an exercise for identification of impaired assets, if any, as required AS-28 on "Impairment of Assets" issued by the Institute of Chartered Accountants of India.

13. Disclosure of Derivative Instruments :

During the year the company has not entered into any forward exchange contracts as such there are not outstanding derivative contract as at 31st March, 2013 to be disclosed as per the ICAI announcement.

14. The Company has not appointed a whole time Company Secretary under Section 383A of the Companies Act,1956. However company is trying to fill up the vacancy by finding out a suitable candidate.


Mar 31, 2012

Note : 1 Corporate information

Quantum Digital Vision (I) Ltd. is a Public Limited Company listed on Bombay Stock Exchange (BSE) in India and incorporated under the provisions of the Companies Act' 1956. The company is engaged in the business of manufacturing of Spring Leaves and assembles' polymer bags' TV Serial and trading in Medicine items.

Note : 2 Basis of preparation

These financial statements are prepared in accordance with Indian Generally Accepted Accounting Principles (GAAP) under the historical cost convention on the accrual basis. GAAP comprises mandatory accounting standards as prescribed by the Companies (Accounting Standards) Rules' 2006' the provisions of the Companies Act' 1956 and guidelines issued by the Securities and Exchange Board of India (SEBI). Accouting policies have been consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing accounting standard requires a change in the accounting policy hitherto in use.

A. Terms & Rights attached to eaulty shares

The company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity share is entitled to one vote per share.

In the event of liquidation of the company' the holders of equity shares will be entitled 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.

3. The Company is in the process of identifying S.S.I' units from its creditors. The relevant information in this regard shall be give when it is compiled. So far' there has been no claim on the company in respect of any interest by supplier including SSI Units.

4. The cash flow Statement As per AS 3 is as per Annexure 'A

5. Earning Per Share (EPS) : For calculating EPS Net Profiti(Loss) after Tax as shown in P & L A/c. is taken as numerator and weighted average number of equity shares taken as denominator are 30'35'000 share-of Rs.10/- each.

6. No disclosure is required under AS-24 on "Discontinuing Operations" issued by the Institute of Chartered Accountants of India as the company has suspended its manufacturing activity/product line since earlier years.

7. The company is in the process of conducting an exercise for identification of impaired assets' if any' as required AS-28 on "Impairment of Assets" issued by the Institute of Chartered Accountants of India.

8. Disclosure of Derivative Instruments :

During the year the company has not entered into any forward exchange contracts as such there are not outstanding oeriaaarv contract as at 31 st March' 2009 to be disclosed as per the ICAI announcement.

9. The Company has not appointed a-whole time Company Secretary under Section 383A of the Companies Act' 1956' however the comp any is trying to fill up the vacancy by finding out a suitable candidate.

10. The Company has settled the dispute with the Indian Overseas Bank and paid the compromise amount to the Bank during the year.

11. One of the foreign machinery supplier' ie' Renova. Plastik Maschinen GmBH (Unsecured Loans) has also filed a suit against the comp any. The same has been disputed as the machinery did not comply with the order specifications as to origin and quality.


Mar 31, 2010

1. The Company is a Sick Industrial company within the meaning of clause (o) of sub-section (0 of section 3 of the Sick Industrial Companies (Special Provisions) Act 1985.

2. Contingent Liabilities:

Sl Particulars As on 31/03/2010 As on 31/03/2009

(Rs) (Rs)

i) Excise duty under adjudication 854736 854736

ii) Sales Tax under Appeal 473536 473536

iii) Sales Tax under Appeal 103481 103481 (Silvassa)

iv) Income Tax under Appeal 2537354 2537354

v) Bank Guarantee for Electricity 1000000 1000000

vi) Liability on account of non- Amount not Amount not

fullfillment of export obligations : ascertained ascertained

EPCG Scheme (refer Note below)*

* Liability on account of non fulfillment of export obligations / EPCG scheme - it is not possible to quantify the above liability at present, the normal procedure is that custom duty is charged on depreciated value on machines at the end of the extended period if further extensions is either not sought or not granted. The above have not been provided for in the accounts as in the opinion of the company the demands are not sustainable to the company.

3. Estimated amount of contracts remaining to be executed on Capital Account not provides for Rs.Ni! (P.Y. Rs. Nil)

4. Secured Loans

Nature of security for secured loan

a). Cash Credit Facility from Indian Overseas Bank is secured by hypothecation of old stock, raw materials and first charge on fixed assets of the company in leaf spring division at Chennai and Personal guarantee of Mr. Himalay Dassani, Chairman of the Company

b) Bills purchased facilities from Indian Overseas Bank is secured by first charge on fixed assets of the company in leaf spring division at Chennaiand persona! guarantee of Mr, Himalay Dassani, Chairman of the Company.

c). Hire purchase, loan facilities and term loan facilities from Gujarat State Financial Corporation are secured by hypothecation of assets of polymer division and charge of machineries of polymer division and persona! guarantee of directors of the Company.

5. The balances in respect of Sundry Debtors, Sundry Creditors and other Loans & Advances are subject to confirmation and adjustment necessary upon reconciliation thereof and hire purchase loan from GSFC, Supplier credit machinery import are also subject to confirmation and also including interest provisions if any.

6. Interest on secured loan from financial institutions and interest on imported machinery from M/s. Reigenhauser GmBH & Co. and Renova Plastik Maschinen GMBH (Unsecured Loans) has not provided in the books of accounts for the year under review as well as earlier years also amount unascertained. As a result of these the accumulated loss has been lower stated to that extend.

7. Directors Remuneration Rs. NIL/- (PY. NIL)

8. The Company is in the process of identifying 5.S.I.units from its creditors .The relevant information in this regard shall be given when it is compiled. So far, there has been no claim on the company in respect of any interest by supplier including SSI Units.

9.The cash flow Statement As per AS 3 is as per Annexure A

10. Related Party information as identified by the management as per Accounting Standard - 18 on Related Party Disclosure issued by the Institute of Chartered Accountants of India.

Relationships

a) Joint Venture Nil

b) Key Management Personnel - Mr. Himalay Dassani

- Mr G. K. Bhandari i

- Mr.Jaykishan N. Singh

- Mr. R. Paid

c) Enterprise over which key - Genesis E Tech Limited

management Personnel exercise - Dreamworks Pictures Limited

significant influence or Control (Formally known as Shristi Entertainment Pvt. Ltd.)

d) Relatives of Key Management - Mrs. Bhagyashree Dassani I

Personnel - Master Abhimanyu Dassani

- Miss. Avantika Dassani

- Smt. Shakuntala Dassani I

11. Earning Per Share (EPS) : For calculating EPS Net Proflt/(Loss) after Tax as shown in P & LA/c. is taken as numerator and weighted average number of equity shares taken as denominator are 30.35,000 share of Rs.10/- each.

12.Deferred Tax Assets and Liabilities : The Company has unabsorbed depreciation and carried forward losses available for set off under the Income Tax Act, 1961. however, in view of inability to assess future taxable income the extent of net deferred tax assets which may be adjusted in the subsequent years is not ascertainable at this stage and accordingly the same has not been recognised in these accounts on prudent basis.

13.No disclosure is required under AS-24 on "Discontinuing Operations" issued by the Institute of Chartered Accountants of India as the company has suspended its manufacturing activity/product line since earlier years.

14.The company is in the process of conducting an exercise for identification of impaired assets, if any, as required AS-28 on "Impairment of Assets" issued by the Institute of Chartered Accountants of India.

15. Disclosure of Derivative Instruments :

During the year the company has not entered into any forward exchange contracts as such there are not outstanding derivative contract as at 31st March, 2009 to be disclosed as per the ICAI announcement.

16. Loans and Advances (Schedule 1) Advances to suppliers include Rs.NIL (Rs. NIL ) gien to concerns in which Directors are interested as directors/members/partners

17. The Company has not appointed a whole time Company Secretary under Section 383A of the Companies Act. 1956, however the company is trying to fill up the vacancy by finding out a suitable candidate.

18. The Company has settled the dispute with the Indian Overseas Bank and paid the compromise amount to the Bank during the year.

19. One of the foreign machinery supplier, ie, Renova Plastik Maschinen GmBH (Unsecured Loans) has also filed a suit against the company. The same has been disputed as the machinery did not comply with the order specifications as to origin and quality.

a) As certified by the Management and accepted by the Auditors.

b) since the leaf spring division is closed from 1986 and no activity was carried out thereafter, hence the same is not considered in quantitative information.

c) Capacity of media division is not ascertainable as it is order/ demand driven

20. Additional information pursuant to the provisions of paragraph 3, 4 & 4D of Part II of Schedule VI to the Companies Act, 1956 is as under:

A Value of imports calculated on CIF basis Rs. Nil (PY.Rs. Nil)

B. Expenditure in foreign currency - Rs Nil (P.Y. Rs. Nil )

C. Earning in foreign currency -Rs Nil (P.Y. Rs. Nil)

21. Figures for the previous year have been re-arranged and re-grouped, wherever necessary to make them comparable to the classification of current year,

 
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