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Notes to Accounts of SMS Techsoft (India) Ltd.

Mar 31, 2014

The Company has only one class of equity shares at par value of Rs. 1 /- per share. Each holder of Equity shares is entitles to one vote per share. In the event of liquidation, 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 share holders. r

Balances of Sundry Creditors, Sundry Debtors, Advances, Deposits, Secured and Unsecured Loans are as per the book and subject to confirmation and reconciliation '' from respective parties.

In the opinion of the Board of Directors Current Assets, Loans and Advances are approximately of the same value if realized in the ordinary course of business. The provisions for all known liabilities are adequate and not in excess of the amount reasonably necessary.

(1) There are no amounts due to be credited to Investor Education and Protection Fund.

(2) Earning in Foreign Exchange at F.O.B. Value: Rs. Nil (Rs. Nil).

(3) Expenses in Foreign Currency at CIF Value: Rs. Nil (Rs. Nil).

(4) Value of Imports on CIF basis accounted for during the year: Rs. Nil (Rs. Nil).

(5) The Company has not received any intimation from suppliers regarding their status under Micro, Small & Medium Enterprises Development act, 2006 and hence disclosures, if any, relating to amounts unpaid as at year end together with interest paid/payable as required under the said Act have not been give.

(6) The figures for the previous year have been rearranged and regrouped wherever necessary so as to confirm to the current year classification.

(7) The Company has terminated the Land Agreement worth Rs. 30 crores on account of deficiency in title deeds and is in deliberation of purchase of intangible asset i;e. data base for Rs. 300,000,000/-by executing MOU, the modalities and legal requirements of which will be completed in the year 2014-15.

1) Segment Information

The company is primarily engaged in a single segment business of providing Information Technology related services.

2) Leases

Land subject to operating leases is included under Fixed Assets. Rent (Lease) payment is recognized in the profit & loss account on a payment basis over the lease term.

13) CENVAT Treatment

a) Revenue from operations and Cost of Materials Consumed are inclusive of Excise Duty Levied. The excise duty paid net of CENVAT claimed is accounted separately.

b) Unutilized balance of CENVAT claimable at the yearend has been accounted and disclosed separately under the head "Short Term Loans and Advances" and the CENVAT component at the yearend inventories has been adjusted accordingly.


Mar 31, 2013

(1) Balances of sundry creditors laundry Debtors Advances Deposits secured unsecured loans are as per the book and subject to confirmation and reconciliation from respective parties.

(2) In the opinion of the Board of Directors current Assets Loans and Advances are approximately of the same value if realized in the ordinary course of business The provisions for all known liabilities are adequate and not in excess of the amount reasonably necessary.

(3) There are no amounts due to be credited to investor Education and protection Fund.

(4) value OF IMPORTS ON if BASIS accounted for during the year Rs, Nil (Rs.Nil)

(5) The company has not received any intimation from suppliers regarding their status under micro small & medium Enterprises Development act 2006 and hence disclosures if any relating to amounts unpaid as at year end together with interest paid payable as required under the said Act have not been give.

(6) The figures for the previous year have been rearranged and regrouped wherever necessary so as to confirm to the current year classification.


Mar 31, 2012

NOTE -1.1 Terms/ rights attached to issued equity shares:

During the year, Company has issued 3,00,00,000 equity shares by way of preferential allotment at its face value of Rs. 10/- per share fully paid. Newly issued shares shall rank pari- passu with existing shares of the Company. And these shares are subjected to lock-in period as follows:

NOTE -1.2 The Company has only one class of equity shares at par value of Rs. 10/- per share. Each holder of Equity shares is entitles to one vote per share.

In the event of liquidation, 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 share holders.

(2) The figures for the previous year have been rearranged and regrouped wherever necessary so as to confirm to the current year classification.


Mar 31, 2010

1. Estimated value of Contract outstanding on Capital accounts Rs. NIL

2. Expenditure incurred relating to Public Issue is amortised over a period of 10 years.

3. Advance recoverable in cash or kind includes advance in the nature of loan which are without any stipulation regarding the interest and for which confirmations arc not obtained. In the absence of stipulation as to interest no portions of the interest has been considered as accrued.

4. The purchase consideration for the Land and Building at Coimbtore was paid to the Managing Director and the assets are yet to be transferred in the name of the Company.

5. In the opinion of the Board Current Assets. Loans and Advances will fetch the amount if realized in the ordinary course of business.

6. Previous Year Figures have been regrouped or rearrange wherever necessary.


Mar 31, 2009

1. Estimated value of Contact outstanding on Capital account NIL.

2. Expenditure incurred relating to Public Issue is a mortised over a period of 10 years.

3. Advance recoverable in cash or kind includes advance in the nature of loan which are without any stipulation regarding the interest and for which confirmations are not obtained. In the absence of stipulation as to interest no portions of the interest has been considered as accrued.

4. In case of amount outstanding to small industrial undertaking the overdrawn liability is Rs. NIL.

5. The Purchase consideration for the land and building at Coimbatore was paid to the Managing Director and the assets are yet to be transferred in the name of the company.

6. The company has taken over the assets and liabilities of two concerns in which two of the Directors are interested (based on agreement entered with them). The company has paid towards technical knowhow to those concerns.

7. In the opinion of the Board. Current Assets, Loans and advances will fetch the amount stated, if realized in the normal course of business.

8. No provision for taxation has been made as the company has not made any profit during the year.

9. Previous years figures have been regrouped where necessary to confirm to current years classification.

 
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