Home  »  Company  »  VCU Data Management  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of VCU Data Management Ltd.

Mar 31, 2015

1. Relatives of Key Management Personnel -

Name of the Party

1) Mrs. Renuka S. Bafna

3. Parties where control exists

Name of the Party

Vmukti Solutions Pvt. Ltd.

2. Related Party Transactions

As per accounting standard 18 (AS-18) Related party disclosures, notified in the companies (Accounting Standards) Rules 2006, the disclosure of transactions with the related parties defined in AS-18 are given below;

1. Key Managerial Personnel (KMP's) -

a) Hardik Hemendra Sanghvi - Managing Director

b) Shripal Kantilal Bafna - C.F.O.*

c) Sanjay Vardhan - Whole Time Director

(W.T.D.) *

d) Binita Sharad Gosalia - C.S.

Mr. Shripal Bafna was Appointed as W.T.D. & Mr. Sanjay Vardhan resigned as W.T.D. w.e.f.23/04/2015

Nature of Relation

Wife of C.F.O. Mr. Shripal Bafna

Nature of Control

Mr. Hardik Sanghvi is Common Director

3. Contingent Liabilities & Provisions

Provisions are recognized only when there is a present obligation as a result of past events and when a reliable estimate of the amount of obligation can be made. Contingent Liability is disclosed for, by way of note for -

a) Possible obligation which will be confirmed only by future events not wholly within the control of the Company or

b) Present obligations arising from the past events where it is not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made.

c) Contingent Assets are not recognized in the financial statements since this may result in the recognition of income that may never be realized.

1. Figures have been rounded off to the nearest rupee, wherever required.

2. Accounting standards as prescribed have been followed & reported wherever applicable.

3. In the Opinion of the Board the current assets, loans and advances will fetch the amounts stated, if realized in the ordinary course of business and adequate provision for all known liabilities of the company has been made. Balances shown under Loans, Advances, Sundry Debtors & Creditors are subject to confirmation, reconciliation and subsequent adjustment if any.

4. a) According to management, Company has not given any guarantee on behalf of the Directors or other officers.

5. The Company has not received information from vendors/suppliers regarding their status under the " Micro , Small & Medium Enterprises Act, 2006" and hence disclosure relating to amount unpaid for the period end together with interest paid or payable under this Act has not been given.

6. According to management, no litigations are filed against or pending against the Company. Company does not have any present obligation arising out of any past event. Hence no provision arises or is made for contingent liabilities.

7. Previous Year's figures have been regrouped / re-classified wherever considered necessary to make them comparable with the current year figures.

9. Earning Per Share (on Face Value of Rs.10/- each) In determining the Earnings Per share, the company considers the net profit after tax which includes any post tax effect of any extraordinary / exceptional item. The number of shares used in computing basic earnings per share is the weighted average number of shares outstanding during the period. The number of shares used in computing Diluted earnings per share comprises the weighted average number of shares considered for computing Basic Earnings per share and also the weighted number of equity shares that would have been issued on conversion of all potentially dilutive shares. In the event of issue of bonus shares, or share split the number of equity shares outstanding is increased without an increase in the resources. The number of Equity shares outstanding before the event is adjusted for the proportionate change in the number of equity shares outstanding as if the event had occurred at the beginning of the earliest period reported.

Basic Earning Per Share - 0.59

Profit/(Loss) after Tax / Weighted Avg. Shares

Outstanding = 9144727/ 15500000 = Rs.0.59

Diluted Earning Per Share - 0.59

Profit/(Loss) after Tax / Weighted Avg. Shares

Outstanding = 9144727/ 15500000 = Rs.0.59

Diluted EPS is similar to Basic EPS as there is no

potential equity share as on date.

10. As none of the employees have completed the minimum length of service as provided in payment of gratuity Act, 1972, no provision for gratuity is made by the Management.

11. Related Party Transactions - According to management & from the records, following related parties transactions were noticed.


Mar 31, 2014

1. Figures have been rounded off to the nearest rupee, wherever required.

2. Accounting standards as prescribed have been followed & reported wherever applicable.

3. In the Opinion of the Board the current assets, loans and advances will fetch the amounts stated, if realized in the ordinary course of business.

4. a) According to management, Company has not given any guarantee on behalf of the Directors or other officers.

b) Company has given Bank Guarantee amounting to Rs.937500/- to BSE SME Segment towards Deposit.

5. The Company has not received information from vendors/suppliers regarding their status under the " Micro , Small & Medium Enterprises Act, 2006" and hence disclosure relating to amount unpaid for the period end together with interest paid or payable under this Act has not been given.

6. According to management, No litigations are filed against or pending against the Company. Company does not have any present obliga- tion arising out of any past event. Hence no provision arises or is made for contingent liabilities.

7. Previous Year''s figures have been regrouped / reclassified wherever considered necessary to make them comparable with the current year figures.

8. Foreign Currency Transactions -

Particulars Amount

Purchase (Import) (US$ 199205) 1,22,06,597/- Trade Advance US $ 1544247 95219830

9. Earning Per Share (on Face Value of Rs.10/- each)

In determining the Earnings Per share, the company considers the net profit after tax which includes any post tax effect of any ex- traordinary / exceptional item. The number of shares used in computing basic earnings per share is the weighted average number of shares outstanding during the period.

The number of shares used in computing Diluted earnings per share comprises the weighted average number of shares considered for computing Basic Earnings per share and also the weighted number of equity shares that would have been issued on conversion of all potentially dilutive shares.

In the event of issue of bonus shares, or share split the number of equity shares outstanding is increased without an increase in the resources.

The number of Equity shares outstanding before the event is adjusted for the proportionate change in the number of equity shares outstanding as if the event had occurred at the beginning of the earliest period reported.

Basic Earning Per Share (0.37)

Profit/(Loss) after Tax / Weighted Avg. Shares Outstanding = (5807859)/15500000 = (Rs.0.37)

Diluted Earning Per Share (0.37)

Profit/(Loss) after Tax / Weighted Avg. Shares Outstanding = (5807859)/15500000 = (Rs.0.37)

Diluted EPS is similar to Basic EPS as there are no potential equity share as on date.

 
Subscribe now to get personal finance updates in your inbox!