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Notes to Accounts of Svam Software Ltd.

Mar 31, 2014

1. Estimated amount of Contract Remaining to be Executed on Capital Account and Not provided for, NIL(PY. NIL)

2. Contingent Liabilities: As on 31.03.14 As on 31.03.13

* Guarantees given by the company NIL NIL

* On a/c of Rent Pending Litigation in Court NIL 6,94,800/-

3. The Company is engaged in the business of trading & development of Software packages.

4. Segment Reporting

The Companies core activity is to develop and trade in computer software. This is the only business segment as per Accounting Standard 17 issued by the Institute of Chartered Accountants of India.

5. In the opinion of the Board, the value of current assets, Loans & advances if realized in the ordinary course of Business shall not be less than the amount at which those are stated in the Balance Sheet.

6. No Provision has been made for Leave encashment, gratuity and other retirement benefits, which are accounted for on payment basis only.

7. Balance confirmations, Sundry Debtors, Sundry Creditors, Deposits and the parties to whom the advances are given are subject to reconciliation and such are as per books of accounts only. Adjustment thereto having an impact of revenue nature, if any will be made during the period in which the same are fully reconciled.

8. All Known Liabilities have been accounted for in the books of account.

9. Previous year''s figures have been regrouped/ rearranged wherever necessary.

10. The additional Information pursuant to revised Schedule VI to the Companies Act, 1956 are either Nil or Not Applicable.


Mar 31, 2013

1. Contingent Liabilities: As on 31.03.13 As on 31.03.12

- Guarantees given by the company NIL NIL

- On a/c of Rent Pending Litigation in Court 6,94,800/- 6,94,800/-

2 In the opinion of the Board, the value of current assets, Loans & advances if realized in the ordinary course of Business shall not be less than the amount at which those are stated in the Balance Sheet.

3. No Provision has been made for Leave encashment, gratuity and other retirement benefits, which are accounted for on payment basis only.

4. Balance confirmations, Sundry Debtors, Sundry Creditors, Deposits and the parties to whom the advances are given are subject to reconciliation and such are as per books of accounts only. Adjustment thereto having an impact of revenue nature, if any will be made during the period in which the same are fully reconciled.

5 All Known Liabilities have been accounted for in the books of account.

6. Previous year''s figures have been regrouped/ rearranged wherever necessary.

7. The additional Information pursuant to revised Schedule VI to the Companies Act, 1956 are either Nil or Not Applicable.


Mar 31, 2012

1. Estimated amount of Contract Remaining to be Executed on Capital Account and Not provided for, NIL(PY. NIL)

2. Contingent Liabilities not provided for:

As on 31.03.12 As on 31.03.11

- Guarantees given by the company NIL NIL

- On a/c of Rent Pending Litigation in Court 694800.00 694800.00

3 The Company is engaged in the business of trading & development of Software packages.

4 Quantitative information required to be given under paragraph 3. 4C and 4D pursuant to part II, Schedule VI of the companies Act

5. Earning and Expenditure in Foreign Exchange

a) Earnings NIL(P.Y. NIL)

b) Expenditure NIL(P.Y. NIL)

6. Segment Reporting

The Companies core activity is to develop and trade in computer software. This is the only business segment as per Accounting Standard 17 issued by the Institute of Chartered Accountants of India.

7. In the opinion of the Board, the value of current assets, Loans & advances if realized in the ordinary course of Business shall not be less than the amount at which those are stated in the Balance Sheet.

8. No Provision has been made for Leave encashment, gratuity and other retirement benefits, which are accounted for on payment basis only.

9. Balance confirmations, Sundry Debtors, Sundry Creditors. Deposits and the parties to whom the advances are given are subject to reconciliation and such are as per books of accounts only. Adjustment thereto having an impact of revenue nature, if any will be made during the period in which the same are fully reconciled.

10. All Known Liabilities have been accounted for in the books of account,

11. Previous year's figures have been regrouped/ rearranged wherever necessary.

12. The additional Information pursuant to revised Schedule VI to the Companies Act. 1956 are either Nil or Not Applicable.

13. The financial statements for the year ended 31 st March, 2011 were prepared as per then applicable, pre-revised Schedule VI to the Companies Act, 1956. Consequent to the notification of Revised Schedule VI under the Companies Act. 1956. the financial state- ments for the year ended 31st March, 2012 are prepared in compliance with the Revised Schedule VI. Accordingly, the previous year figures have also been reclassified'regrouped to conform to current year's classification. The adoption of Revised Schedule VI for previous year figures does not impact recognition and measurement principles followed for preparation of the financial statements.


Mar 31, 2010

1. The Company is engaged in the business of trading & development of Software packages.

2. Deferred Tax:

a) The company has accounted for deferred tax in accordance with the Accounting Standard 22 "Accounting for taxes on income" issued by Council of ICAI. Accordingly, deferred tax for the year is recognized on timing difference, being the difference between taxable income and accounting income that originate in one period and are capable of reversal in one or more subsequent periods.

b) Deferred Tax assets and liabilities are measured using the tax rates and tax laws that have been enacted or substantively enacted by the Balance Sheet date.

c) Tax on income for the current period is determined on the basis of taxable income and applicable tax rate computed in accordance with the provisions of the Income Tax Act, 1961.

d) Deferred Tax assets are recognized and carried forward only if there is a reasonable/virtual certainty of its realization.

3. Segment Reporting:

The Companies core activity is to develop and trades in computer software. This is the only business segment as per Accounting Standard 17 issued by the Institute of Chartered Accountants of India.

5. Provision, Contingent Liabilities, Contingent Assets:

(i) An/ reimbursement against a provision expected from an insurance or other indemnity clause is not recognized unless there is its virtual certainty.

(ii) A contingent liability is not recognized in the financial statements. It is only disclosed in the notes.

(iii) A contingent assets is neither recognized in the financial statement nor disclosed in the notes.

(iv) Contingent Liabilities: As on 31.03.10 As on 31.03.09

-On a/c of Rent Pending Litigation in Court 694800.00 694800.00

8. Paisa have been rounded off to the nearest rupee.

9. Previous year's figures have been regrouped/ rearranged wherever necessary.

 
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