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Notes to Accounts of Ram Info Ltd.

Mar 31, 2015

1. CORPORATE INFORMATION:

RAMINFO Limited (Formerly Known as RAM Informatics Limited) ("The Company") was incorporated on 20-05-1994 and the CIN being L72200TG1994PLC017598. The company is engaged in the business of Software development, e-governance etc.,

2. Terms/Rights attached to Equity Shares:

The Company has only one class of equity shares having a par value of Rs.10/- per share. Voting right is upon show of hands, every member is entitled to one vote only irrespective of number of shares such member is holding and upon a poll, each holder of equity shares is entitled to one vote per share. In 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 the preferential liabilities. The distribution will be in proportion to the number of equity shares held by the share holders.

HDFC Loan: Vehicle loan from HDFC Bank is secured against the hypothecation of the vehicle. EMI's due in the ensuing financial year are considered as current liabilities

Overdraft - Punjab National Bank: Primary security is hypothecation of Book Debts of the company, both present and future. This facility is guaranteed by RRAS Technologies Pvt. Ltd (Promoter Company), Managing Director of the company and his relative. This facility is also secured by the immovable properties of other parties.

ICD of Rs.10.61 Lacs accepted from Coingen Tech Solutions Pvt. Ltd and repayable with in 3 years with interest @12% per annum.

3. CONTINGENT LIABILITIES AND COMMITMENTS (TO THE EXTENT NOT PROVIDED FOR):

Particulars As at 31 As at 31 March, 2015 March, 2014

Rs.In Rs.In Thousands Thousands Contingent liabilities

1. Bank Guarantees : Margin money deposit of Rs. 6.90 lacs kept with the bank - Including accrued Interest 3086 3580

2. Provident Fund : The demand from PF Authorities for Rs.39.06 lacs is disputable and not provided. The Company has filed appeal with the Honorable High Court of Andhra Pradesh vide WP No. 717/2012 dated 06.01.2012 3765 3906

3. Provident Fund : The Show Cause notice from PF Authorities for Rs.63.71 lacs for levying of damages and interest U/s 14B of EPF & MP Act, 1952 is disputable and not provided. The Company is contesting before the concerned authorities. 6371 -

4. Service Tax : Service Tax Liability as per the Order dt 20.09.2011 of Hyderabad II Commissionerate, Hyderabad vide OR.No. 62/2010 which includes Service Tax Liability Rs. 83.91 lacs and penality of Rs.87.65 lacs. The Company preferred an appeal before the Appellate Authority, Banglore. 17156 17156

TOTAL 30378 24642

4. EMPLOYEES BENEFITS:

a. Contribution to provident fund is made as per provisions of Employees Provident Fund and Miscellaneous Provisions Act, 1952 and charged to Profit and Loss Account.

b. The company has an obligation towards Gratuity, a defined benefit retirement plan covering eligible employees. The plan provides for a lump sum payment to vested employees on retirement, death while in employment or on termination of employment in an amount equivalent to 15 days salary payable for each completed year of service. Vesting occurs upon completion of five years of service. The Company has subscribed Policy with LIC of India to meet its obligations.

c. The company has an obligation towards leave encashment, a defined benefit retirement plan covering eligible employees. The Company has subscribed Policy with LIC of India to meet its obligations.

5. RELATED PARTY DISCLOSURES:

Related Party Disclosures for the year ended 31st March 2015 in accordance with Accounting Standard - 18 Issued by the Institute of Chartered Accountant of India.

List of related parties:

Name of the Party Relationship

Mr.L.Srinath Reddy Key Management

Mr.PS.Raman Director

Mr.R.Jagadeeswara Rao Director

6. As per Accounting Standards referred to in section 133 of The Companies Act 2013, the company has to carry out the assessment of impairment of assets. Loss of Rs.16.84 lacs on disposal of assets includes loss identified on carrying out the impairment of assets.

7. The company has entered in to operating lease agreement for its office premises for a period of 36 months renewable at the option of the lessor and lessee. Total lease payment for the period charged to the Statement of the Profit & Loss is Rs16.19 lacs (Previous year Rs.14.14 lacs)

8. During the year the company has identified the bad debts and Rs.187.76 lacs was written off as bad debts, hence excess provision in bad & doubtful debts of Rs. 86.35 lacs (Net) reversed.

9. As regards the disclosure of particulars of amounts owed by the Company to small scale industrial undertakings that are required to be disclosed in the Balance sheet in pursuance of amendment to Schedule III of the Companies Act, 2013, the Company is not in possession of any information as to the business/industrial status of its creditors whose particulars are to be disclosed. The Company is making efforts to obtain the same.


Mar 31, 2014

The previous year figures have been re-grouped/re-classified, wherever necessary to confirm to the current year presentation

1. The scheme for re-structuring of capital is approved by Hon''ble High Court of Andhra Pradesh and became effective upon filing of the court order with Registrar of Companies, Andhra Pradesh on 25/02/2013. Upon effecting of the scheme, face value of each equity share has been reduced from Rs.10/- (Rupees Ten Only) to Re1/- (Rupee One Only) and further consolidated to face value of Rs.10/- each (Rupees Ten Only) consequently the no. of equity shares are reduced from 1,12,41,400 (One Crore Twelve Lakhs Fortyone Thousand Four Hundred Only) to 11,24,140 (Eleven Lakhs Twentyfour Thousand One Hundred and Forty Only) equity shares.

2. In pursuance of the scheme sanctioned by Hon''ble High Court of Andhra Pradesh 26,56,500 equity shares of Rs. 10/- each were issued to un-secured creditors due to conversion of their un-secured loans into equity shares.

3. The Scheme also provides for issue of another 25,00,000 equity shares of Rs. 10/- each on preferential allotment basis and in view of the same shares were issued to M/s. RRAS Ventures Private Limited (5,00,000 equity shares), M/s. Jayachakra Ventures Private Limited (2,50,000 equity shares), M/s. Coingen Tech Solutions Private Limited (15,00,000 equity shares) and Mr.Nitin Bhaskar Khapre (2,50,000 equity shares).

4. Terms/Rights attached to Equity Shares

The Company has only one class of equity shares having a par value of Rs.10/- per share. Voting right is upon show of hands, every member is entitled to one vote only irrespective of number of shares such member is holding and upon a poll, each holder of equity shares is entitled to one vote per share. In 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 the preferential amounts. The distribution will be in proportion to the number of equity shares held by the share holders.

5. CONTINGENT LIABILITIES AND COMMITMENTS (TO THE EXTENT NOT PROVIDED FOR):

Particulars As at As at 31 March, 2014 31 March, 2013 Rs. In Rs. In Thousands Thousands Contingent liabilities

Bank Guarantees: Margin money deposit kept with the bank - Rs.35.80 lacs - Including accrued Interest 3580 3317

Provident Fund: The demand from PF Authorities for Rs.39.06 lacs is disputable and not provided. The Company has filed appeal with the Honorable High Court of Andhra Pradesh vide WP No. 717/2012 dated 06.01.2012 3906 4050

Service Tax: Service Tax Liability as per the Order dt 20.09.2011 of Hyderabad II Commissionerate, Hyderabad vide OR.No. 62/2010 which includes Service Tax Liability Rs. 83.91 lakhs and penality of Rs.87.65 lakhs)

The Company is preferring an appeal before the appellate authority, Banglore. 17156 -

TOTAL 24642 7367

6. In the absence of virtual certainty that the sufficient further taxable income will be available against which deferred tax asset can be realized, the same has not been recognised in the books of accounts in line with Accounting Standard dealing with Accounting for Income Taxes''.

7. EMPLOYEES BENEFITS:

a. Contribution to provident fund is made as per provisions of Employees Provident Fund and Miscellaneous Provisions Act, 1952 and charged to Profit and Loss Account.

b. The company has an obligation towards Gratuity, a defined benefit retirement plan covering eligible employees. The plan provides for a lump sum payment to vested employees on retirement, death while in employment or on termination of employment in an amount equivalent to 15 days salary payable for each completed year of service. Vesting occurs upon completion of five years of service. The Company has subscribed Policy with LIC of India to meet its obligations.

c. The company has an obligation towards leave encashment, a defined benefit retirement plan covering eligible employees. The Company has subscribed Policy with LIC of India to meet its obligations.

8. As per Accounting Standards referred to in section 211(3C), the company has to carry out the assessment of impairment of assets. However, the company has not carried out the physical verification of fixed assets as well as its impairment there of.

9. There is no additional provision for doubtful debts made for the year end 31.03.2014. The provision carried over from last year are related to debtors due for more than 365 days old.

10 As regards the disclosure of particulars of amounts owed by the Company to small scale industrial undertakings that are required to be disclosed in the Balance sheet in pursuance of amendment to Schedule VI of the Companies Act, 1956 vide Notification No.GSR 129(E), dated 22-02-1999 issued by the Department of Company Affairs, the Company is not in possession of any information as to the business/industrial status of its creditors whose particulars are to be disclosed. The Company is making efforts to obtain the same.

11. Provision for service tax as on 31st March 2013 stands at Rs.39.23 lacs including for provision for the 2013-14. There were arrears of service tax in previous years unpaid due to difficult financial position of the company. The returns were filed for years upto 2012-13. On account of interpretation issue related to IT service, provision related to previous years has to be reworked and regularised.


Mar 31, 2013

1.0 CONTINGENT LIABILITIES AND COMMITMENTS (TO THE EXTENT NOT PROVIDED FOR)

Particulars As at 31 March, 2013 As at 31 March, 2012 '' In Thousands '' In Thousands

Contingent liabilities

Bank guarantees (1) 3317 3000

Provident fund (2) 4050 4050

1) Margin money deposit kept with the bank - Rs.33.17 lacs - Including accrued Interest (2) The demand from PF Aut horities for Rs.40.50 lacs is disputable and not provided

TOTAL 7367 7050

2.0 In the absence of virtual certainty that the sufficient further taxable income will be available against which deferred tax asset can be realized, the same has not been recognized in the books of accounts in line with Accounting Standard dealing with Accounting for Income Taxes''.

3.0 EMPLOYEES BENEFITS:

a. Contribution to provident fund is made as per provisions of Employees Provident Fund and Miscellaneous Provisions Act, 1952 and charged to Profit and Loss Account.

b. The company has an obligation towards Gratuity, a defined benefit retirement plan covering eligible employees. The plan provides for a lump sum payment to vested employees on retirement, death while in employment or on termination of employment in an amount equivalent to 15 days salary payable for each completed year of service. Vesting occurs upon completion of five years of service. The Gratuity plans of the entity are an unfunded plan. The company accounts for the liability for future Gratuity benefits on the basis of an independent actuarial valuation

c. Liability for leave encashment is provided on the basis of the actual encashable leave outstanding at the year-end.

4.0 RELATED PARTY DISCLOSURES

Related Party Disclosures for the year ended 31st March 2013 in accordance with Accounting Standard - 18 Issued by the institute of Chartered Accountant of India.

5.0 Additional information pursuant to the provisions of para 3, 4C and 4D of Part II of Schedule VI to the Companies Act, 1956 (to the extent applicable)

6.0 As per Accounting Standards referred to in section 211(3C), the company has to carry out the assessment of impairment of assets. However, the company has not carried out the physical verification of fixed assets as well as its impairment thereof.

7.0 There is no additional provision for doubtful debts made for the year end 31.03.2013. The provision carried over from last year are related to debtors due for more than 365 days old.

8.0 A total sum of Rs.8.53 lacs( Extra Ordinary Items) has been written off from the loans and advances given to parties etc., which are considered no longer recoverable due to comprehensive capital restructure plan proposal and approved by Hon''ble High Court of Andhra Pradesh.

9.0 As regards the disclosure of particulars of amounts owed by the Company to small scale industrial undertakings that are required to be disclosed in the Balance sheet in pursuance of amendment to Schedule VI of the Companies Act, 1956 vide Notification No.GSR 129(E), dated 22-02-1999 issued by the Department of Company Affairs, the Company is not in possession of any information as to the business/industrial status of its creditors whose particulars are to be disclosed. The Company is making efforts to obtain the same.

10.0 Provision for service tax as on 31st March 2013 stands at Rs.32.39 lacs including for provision for the 2012-13. There were arrears of service tax in previous years unpaid due to difficult financial position of the company. The returns were filed for years up to 2008 - 09. On account of interpretation issue related to IT service, provision related to previous years has to be reworked and regularized.


Mar 31, 2012

The previous year figures have been re-grouped/re-classified' wherever necessary to confirm to the current yearpresentation.

1.1 Terms/Rights attached to Equity Shares: The Company has only one class of equity shares having a par value of Rs.10/- per share. Voting right is upon show of hands every member is entitled to one vote only irrespective of number of shares such member is holding and upon a poll each holder of equity shares is entitled to one vote per share. In 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 the preferential amounts. The distribution will be in proportion to the number of equity shares held by the share holders.

2.1 In the absence of virtual certainty that the sufficient further taxable income will be available against which deferred tax asset can be realized' the same has not been recognised in the books of accounts in line with Accounting Standard 22' dealing with Accounting For Taxes on Income.

3.0 EMPLOYEES BENEFITS:

1. Contribution to provident fund is made as per provisions of Employees Provident Fund and Miscellaneous Provisions Act' 1952 and charged to Profit and Loss Account.

2. Liability for gratuity is provided for on the basis of actuarial valuation.

3. Liability for leave encashment is provided on the basis of the actual encashable leave outstanding at the year-end.

4. Contribution to Regional Provident Fund Authority charged to Statement of Profit and Loss during the year ended 31st March'2012 is 14.48 thousands (31st March' 2011: 95.04 thousands)

4.0 RETIREMENT BENEFITS:

a) Contribution to Provident Fund is recognised as an expenditure on accrual basis.

b) The company has an obligation towards Gratuity' a defined benefit retirement plan covering eligible employees. The plan provides for a lump sum payment to vested employees on retirement' death while in employment or on termination of employment in an amount equivalent to 15 days salary payable for each completed year of service. Vesting occurs upon completion of five years of service. The Gratuity plans of the entity are an unfunded plan. The company accounts for the liability for future Gratuity benefits on the basis of an independent actuarial valuation.

c) Leave encashment is not categorised as a retirement benefit as the company is in the practice of paying the leave encashment benefit every year.

5.0 RELATED PARTY DISCLOSURES:

5.1 Related Party Disclosures for the year ended 31st March 2012 in accordance with Accounting Standard - 18 Issued by The Institute of Chartered Accountants of India.

As required by Accounting Standard (AS-28) "Impairment of Assets" issued by The Institute of Chartered Accountants of India' the company has carried out the assessment of impairment of assets. There has been no impairment loss during the year.

5.2 The amounts provided as doubtful debts are more than 365 days old. Dues from eSeva project through the consortium partners i.e. CMS and CCS (Rs. 157.47 lakhs) are also under dispute against which Arbitration proceedings are pending. Also these are considered doubtful and provided for. The Vizag APSRTC project dues (Rs. 28.22 lakhs) are provided for on termination of contract and under dispute. Hence considered as doubtful. B1 project provision relates to transaction rate differential estimated and provided (Rs.15 lakhs)

5.3 The company has written off a sum of Rs.132.06 lakhs as loss on physical verification of assets. This represents value of items scrapped and not having realisable value as certified by the Management.

5.4 A total sum of Rs.406.86 lakhs(Extra Ordinary Items) has been written back from liabilities due to employees' creditors etc.' which are considered no longer required due to comprehensive capital restructure plan proposal and approved by Board. Applications are being filed for the necessary regulatory approvals of the scheme. Some of acceptance letters from the parties have been obtained.

5.5 Disputes' if any' arising in the future out of the sum of Rs. 406.86 lakhs written back are not identifiable and to the extent will affect the Profitability of the company in the future.

5.6 The Company has written off the sum of Rs.149.71 lakhs of the inventory of software stock 'since the same has become obsolete.

5.7 Previous Year’s figures are given in brackets and the same have been regrouped/rearranged wherever necessary.


Mar 31, 2010

1. Disclosure as required under Accounting Standard (AS) 15:

Consequent to the application of Accounting Standard AS-15" Employee Benefits" notified by the Companies (Accounting Standards) Rule,2006, all employee benefits were determined in accordance with the Standard in the preparation of financial statements for the year 2009-10:

2. The Company has recognized following deferred assets and liabilities determined on account of timing differences in accordance with Accounting Standard - 22 Accounting of Taxes on Income" issued by the Institute of Chartered Accountants of India

3. Related Party Disclosure:

a) Related parties: Wholly Owned Subsidiary M/s Aravali Technologies Inc., California, USA.

Members of the Board : Mr. RS. Raman, Mr. P.S. Venkateswaran, Mr. R. Jagadeeswara Rao, Mr. K. Kumar Raja, Mr. Haragopal, Mr. S.K. Mathur & Mr. Khushwant Singh.

Key Management Personnel: Mr. RS. Raman, Mr. RS. Venkateswaran, Mr. R. Jagadeeswara Rao

b) Summary of transactions with the related parties:

c) Loans/advances in the nature of Loans and investments in its own shares by the company, its subsidiary, associates etc:

(i) The company has not given any loans and advances in the nature of loans to its subsidiary and/or associates.

(ii) Investment by the loanee in the shares of the company: Not applicable.

4. There are no dues in respect of amounts mentioned under Section 205 C of the Companies Act, 1956 that are required to be credited to the Investor Education and Protection Fund as at 31st March 2010.

5. Figures for the previous year have been regrouped and reclassified wherever necessary to be in conformity with the current year figures.

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