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Visu International Ltd. Notes to Accounts, Visu International Ltd. Company
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Notes to Accounts of Visu International Ltd.

Mar 31, 2015

1. Quantitative Details:

The Company is engaged in the Global Educational Consultancy, coaching/training and Software Development. The products and sale of such software cannot be expressed in any generic unit.

2. Micro, Small and Medium Enterprise.

There are no Micro, Small and Medium Enterprise, to whom the Company owes dues, which are outstanding at the Balance Sheet date, computed on unit wise basis.

3. As per accounting standards 18, the disclosures of transactions with the related parties as defined in the Accounting Standards are given below:

a) Related Parties:

S.No. Particulars Nature of Relationship

1 B Prabhakar Reddy Executive Director

2 Visu Academy Limited Wholly Owned Subsidiary

3 C. Chandra Sekhar Reddy Managing Director

4 K V S Mallikarjuna Director

5 S Muralidhar Reddy Director

6 Sophia Reddy C Additional Director

4. Confirmation from Debtors and Creditors and also loans and advances are subject to confirmation.

5. The Company has defaulted in repayment of loans to banks which are given below and the respective banks has filed proceedings in Debt Recovery Tribunal, and the respective outstanding amounts and loan accounts have been transferred to NPA A/c. the details;

6. Contingent Liabilities

Income Tax Demand (Disputed Liability) amounting to Rs. 73,42,363/- for various Assessment Years.

7. The figures in the Balance Sheet and Profit and Loss Account have been rounded to the nearest rupee.

8. Previous Year figures are regrouped/reclassified.


Mar 31, 2014

1. Quantitative Details:

The Company is engaged in the Global Educational Consultancy, coaching/training and Software Development. The products and sale of such software cannot be expressed in any generic unit.

2. Micro, Small and Medium Enterprise.

There are no Micro, Small and Medium Enterprise, to whom the Company owes dues, which are outstanding at the Balance Sheet date, computed on unit wise basis.

3. As per accounting standards 18, the disclosures of transactions with the related parties as defined in the Accounting Standards are given below:

a) Related Parties:

S.No. Particulars Nature of Relationship

1 C. Chandra Sekhar Reddy Chairman & Managing Director

2 B Prabhakar Reddy Executive Director 3 Visu Academy Limited Wholly Owned Subsidiary

4. Contingent liabilities:

Income tax disputed liabilities of the company are contingent in nature, which are as follows:

Name of the Statute Assessment Year Amount Rs. Income Tax A.Y 2009-10 37,07,534

Income Tax A.Y 2007-08 36,34,829

5. Confirmation from Debtors and Creditors and also loans and advances are subject to confirmation.

6. In the current year, 5 vehicles and related loans of these vehicles have been transferred to few creditors in lieu of amounts payable to them. NOC''s were also obtained.

7. Total intangible assets have been written-off during the current year on account of obsolescence of technology.

8. Receivables an amount of Rs. 11,04,73,970/- have been written off as bad debts by the company due to non recovery of the same.

9. During the current year following vehicle loans have been paid off and respective clearance certificates were obtained for the same.

10. The figures in the Balance Sheet and Profit and Loss Account have been rounded to the nearest rupee.

11. Previous years'' figures have been regrouped and reclassified wherever necessary to confirm to current year''s classification.


Mar 31, 2013

1. Micro, Small and Medium Enterprise.

There are no Micro, Small and Medium Enterprise, to whom the Company owes dues, which are outstanding at the Balance Sheet date, computed on unit wise basis.

2. Confirmation from Debtors and Creditors and also loans and advances are yet to be received.

3. The figures in the Balance Sheet and Profit and Loss Account have been rounded to the nearest rupee.


Mar 31, 2012

1. Quantitative Details:

The Company is engaged in the Global Educational Consultancy, coaching/training and Software Development. The products and sale of such software cannot be expressed in any generic unit. The Income of Consultancy Services & Coaching/training income is Rs 1239.54 Lakhs, Other Income Rs 101.15 Lacs and Income of Merchant exports is Rs 97.52 Lakhs.

2. Micro, Small and Medium Enterprise.

There are no Micro, Small and Medium Enterprise, to whom the Company owes dues, which are outstanding at the Balance Sheet date, computed on unit wise basis.

3. As per accounting standards 18, the disclosures of transactions with the related parties as defined in the Accounting Standards are given below:

No Related party transactions during the period

4. As per accounting standards 15, the gratuity provision has been made on actuarial basis.

5. In accordance with Accounting Standard 22 (AS 22) issued by the ICAI, the Company has accounted for deferred tax in the previous year for accumulated deferred tax Liability and for the previous year also. The deferred tax provision for the current year amounts to Rs.17,13,410/- towards deferred tax liability (previous year Rs. 20,17,107/- towards deferred tax liability)

6. Earnings per Share (EPS) (AS - 20)

As the company is incurred loss the EPS calculation is not required.

7. The members have accorded their consent for issue of Securities/Instruments in the form of Foreign Currency Convertible Bonds (FCCB's)/Global Depository Receipts(GDR's)/Qualified Institutional Placement(QIP's) and/or to Qualified Institutional Buyers(QIB's), the results of which were declared by the Chairman of the company on 28th May'2010.

8. Confirmation from Debtors and Creditors and also loans and advances are yet to be received.

9. Figures for the corresponding year ended March 31, 2011 wherever necessary have been regrouped, recast, and rearranged to conform to those of the current year.

10. The figures in the Balance Sheet and Profit and Loss Account have been rounded to the nearest rupee.


Mar 31, 2010

1. QUANTITATIVE DETAILS :

The Company is engaged in the Global Educational Consultancy, coaching/training and Software Development. The products and sale of such software cannot be expressed in any generic unit. Hence it is not possible to give the quantitative details of sales & certain information as required under paragraphs 3, 4 C and 4 D of Part II of Schedule VI to the Companies Act, 1956. The income of Consultancy Services & Coaching/training income is Rs 1333.27 lakhs, Other Income Rs 6.14 Lacs and Income of Merchant exports is Rs 147.99 lakhs.

2. Secured Loan:- Vehicle finance and computers finance are secured against hypothecation of vehicles and computers from Financial Institutions & banks, Cash Credit from Indian Overseas Bank, Main branch, Kothi, Hyderabad is secured against hypothecation of the moveable assets and personal guarantees by the Directors. Term loan & Working Capital Term Loans from Lakshmi Vilas Bank, Koti, Hyderbad is secured against Hypothecation of immovable Assets and personal guarantees by the Directors. A part of working capital loan of APSFC has been taken over by Lakshmi Vilas Bank during this year.

3. Deposits:- Includes Rs.1,60,000/- made to Hyderabad Stock Exchange for ensuring compliance for all the listing requirements. This amount is refundable on compliance of the said requirements and after furnishing No objection Certificate from the Securities & Exchange Board of India.

4. The Company does not have any outstanding liability for a period of more than 30 days for a sum of rupees exceeding one lakh in respect of Small Scale Industrial under takings.

5. In accordance with Accounting Standard 22 (AS 22) issued by the ICAI, the Company has accounted for deferred tax in the previous year for accumulated deferred tax Liability and for the previous year also. The deferred tax provision for the current year amounts to Rs. 14,19,173/-towards deferred tax liability (previous year Rs. 88,91,258/- towards deferred tax liability)

6. Confirmation from Debtors and Creditors are yet to be received.

7. Figures for the corresponding year ended March 31, 2009 wherever necessary have been regrouped, recast, and rearranged to conform to those of the current year.

8. The figures in the Balance Sheet and Profit and Loss Account have been rounded to the nearest rupee.

 
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