Mar 31, 2015
1. Expenditure in Foreign Currency
The company has not incurred any material expenses in foreign currency.
2. Earning in Foreign Currency
During the year, the company has raised invoices to M/s. Retail
Information Systems Ltd. for off- shore services rendered to them to
the tune ofRs.91,41,334.80/-
List of key personnel and related parties with relations during the
year
a] Key Management Personnel
i] Sh. Prem Sharma,CFO
ii] Sh. Servesh Gupta, Director
iii] Sh. Satish Kumar Gupta, Director
iv] Ms. Ruchi Aggarwal, CS
b] Enterprises over which key management persons or their relative
exercise significant influence having transaction during the year
i] RA Compusoft Private Limited
3. Employees Benefits
The company has not created any fund or trust for meeting its future
liability for leave encashment or any other dues to employees. The
liability will be met out of from its own fund whenever it may arise in
future.
4. Impairment Assets
There was no impairment of assets during the year.
Mar 31, 2014
1 Expenditure in Foreign Currency
The company has not incurred expenses in foreign currency.
2 Earning in Foreign Currency
During the year, the company has not raised any invoice for offshore
services
3 List of key personnel and related parties with relations during the
year
a) Key Management Personnel
i) Sh. Servesh Gupta, Director
ii) Sh. Satish Kumar Gupta, Director
iii) Sh. Umesh Bhatt, Director
iv) Sh. Umesh Sharma, Director
v) Sh. Anil Kumar Gupta, Director
vi) Ms. Mala Sharma, Company Secretary
b) Enterprises over which key management persons or their relative
exercise significant influence
i) USG Solutions Private Limited
4 Employees Benefits
The company has not created any fund or trust for meeting its future
liability for leave encashment or any other dues to employees. The
liability will be met out of from its own fund whenever it may arise in
future.
5 Impairment Assets
There was no impairment of assets during the year.
Mar 31, 2013
1 Expenditure in Foreign Currency
The company has not incurred expenses in foreign currency.
2 Earning in Foreign Currency
During the year, the company has raised invoices for offshore services
for software customization to the tune of USD305105/- equivalent to
Rs.1,68,02,000/-
3 List of key personnel and related parties with relations during the
year
a) Key Management Personnel
i) Sh. Prem Gupta, Managing Director
ii) Sh. Servesh Gupta, Director
iii) Sh. Satish Kumar Gupta, Director
iv) Sh. Umesh Bhatt, Director
v) Sh. Umesh Sharma, Director
vi) Sh. Anil Kumar Gupta, Director
b) Enterprises over which key management persons or their relative
exercise significant influence
i) USG Solutions Private Limited
4 Additional information''s pursuant to the provision of paragraph 4C &
4D of part II of schedule VI of the Companies Act, 1956 as per figures
prepared and certified by the management are as under:- a) Particulars
in respect of trading products purchased
5 Employees Benefits
The company has not crated any fund or trust for meeting its future
liability for leave encashment or any other dues to employees. The
liability will be met out of from its own fund whenever it may arise in
future.
6 Impairment Assets
There was no impairment of assets during the year.
Mar 31, 2012
1. Expenditure in Foreign Currency
The company has incurred expenses of Australian Dollar 3550.00 (Nil)
equivalent to Rs.192911.00 (Nil) towards foreign trip of staff for
training program in Australia.
2. Earning in Foreign Currency
There is no earning in foreign currency.
3. List of key personnel and related parties with relations during
the year
a) key Management Personnel
i) Sh. Prem Gupta, Managing Director
ii) Sh. Umesh Bhatt, Director
iii) Sh. Satish Kumar Gupta, Director
iv) Sh. Servesh Gupta, Director
v) Sh. Anil Kumar Gupta, Director
b) Enterprises over which key management persons or their relative
exercise significant influence
i) USG Solutions Private Limited
4. Employees Benefits
The company has not created any fund or trust for meeting its future
liability for leave encashment or any other dues to employees. The
liability will be met out of from its own fund whenever it may arise in
future.
5. Impairment Assets
There was no impairment of assets during the year.
Mar 31, 2011
1. The Company is engaged in the business of providing BPO services,
Software Services and Development of Software Products. Such services
are not capable of being expressed in any generic unit. Hence the
quantitative details as required under the Companies Act 1956 have not
been furnished.
2. Contingent liabilities: Income Tax demand for Rs. 23,10,837 /- for
the Assessment Year 2005 - 2006. The Company has filed an appeal with
the ITAT against the orders of CIT (Appeal). The Income Tax department
has set off this liability against the refund due for the A.Y.
2010-2011, however, order of ITAT is pending.
3. Auditors remuneration for the year: Rs. 25,000/- (Previous year: Rs
25,000/-).
4. Previous years figures have been regrouped and rearranged wherever
necessary. Current year figures have been rounded off in multiple of
rupee.
5. In the opinion of the Management all the current assets including
loans and advances would in the normal course of business be realized
at the value stated.
6. Sundry Debtors, Creditors and Loans and advances are subject to
confirmation and consequential adjustment, if any.
7. A sum of Rs. 21,46,29,726/- has been charged to Profit and Loss
account as revenue expenditure the components of which are as under :
8. The company's operations in Kolkata, were discontinued in the
current year.
Mar 31, 2010
1. The Company is engaged in the business of providing BPO services,
Software Services and Development of Software Products. Such services
are not capable of being expressed in any generic unit. Hence the
quanitative details as required under the Companies Act 1956 have not
been furnished.
2. Contingent liabilities: Income Tax demand for Rs. 23,10,837 /- for
the Assessment Year 2005 - 2006 The Company has filed an appeal with
the ITAT against the orders of CIT (Appeal).
3. Auditors remuneration for the year: Rs. 25,000/- (Previous year: Rs
25,000/-).
4. Previous years figures have been regrouped and rearranged wherever
necessary.
5. In the opinion of the Management all the current assets including
loans and advances would in the normal course of business be realized
at the value stated.
6. Sundry Debtors, Creditors and Loans and advances are subject to
confirmation and consequential adjustment if any.
7. A sum of Rs. 20,41,71, 780/- has been charged to Profit and Loss
account as revenue expenditure the components of which are as under:
8 Rs 98,00,000/- was received from M/S Urja Global Limited as advance
for development of certain software. The said amount was returned back
to Urja Global Limited without interest as the Compant could not
execute the work for which Company has received the payment. Mr. R.K.
Gupta is the director of both the Companies i.e.Urja Global Limited and
V & K Softech Limited.