Mar 31, 2015
1. Balance with schedule Bank include Rs.1,47,08,996 (P.Y.
Rs.1,61,18,604) representing margin money for letter of credit and bank
guarantees issued
2. The Companies Act 2013 mandates that companies transfer dividend
that has been unclaimed for period of seven years from unpaid dividend
account to Investor Education & Protection Fund (IEPF),. Accordingly if
dividend is unclaimed for a period of seven years, it will be
transferred to IEPF.
3. Deposits includes Rs.1,41,08,996 with original maturity of 12
months and more.
4. None of the items in raw material individually accounts for 10% or
more of the total value of material consumed. In the absence of
verifiable records the Auditors have relied upon the management's
representation to this behalf.
6. Contingent Liabilities:
Sr. Particulars 2014-15 2013-14
No. Rs. Rs.
1. Disputed Tax/Duty demands not 9,89,86,032 10,33,26,536
provided for
2. Bank guarantees given on behalf
of Company to third parties. 7,31,96,352 5,79,57,810
7. Employee Benefit:-
The Company provides benefits to its employees under the Leave
Encashment pay plan which is a non-contributory defined benefit plan.
The employees of the Company during the tenure of their employment are
entitled to receive leave encashment in excess of 60 days leave to the
credit of their account as on 1st January every year.
The benefit of Gratuity is funded defined benefit plan. For this
purpose the Company has obtained a qualifying insurance policy from LIC
of India, and the same is not funded by the Company.
8. Segment Reporting (Accounting Standard - AS 17):
The Company is engaged in business / operations of manufacture, sale
and servicing of professional electronic equipment. Though the Company
has a range of products, they all fall within the single segment of
electronic equipment. It is a considered view of the management that
the Company has no reportable segments envisaged in the Accounting
Standard (AS17) "Segment Reporting"issued by the Institute of Chartered
Accountants of India.
9. Related Party Disclosures (Accounting Standard AS 18):
List of Related Parties and Relationship
Subsidiary Company :
Sprylogic Technologies Ltd
Joint Venture:
Arabian Power Electronics Company (Joint Venture business in Saudi
Arabia)
Associates:
(enterprises where Aplab Limited and its subsidiaries have 20% holding
or, investing parties who have over 20% holding in Aplab Limited)
Zee Entertainment Enterprises Ltd (Formerly Zee Telefilms Ltd)
Key Management Personnel:
Mr. P.S. Deodhar Chairman & Managing Director
Mr. Nishith Deodhar Former Managing Director
Mrs. Amrita Deodhar Director
Mr. Rajesh Deherkar Company Secretary and Finance Controller
Relatives of Key Management Personnel:
Mrs. Aruna Narayanan
Enterprises over which key management personnel and their relatives are
able to exercise significant influence
Sr. Name of the Party
No.
1 Deodhar Electro Design Pvt Ltd
2 Intel Exports Corporation
3 Telemetric Equipments Pvt.Ltd.
4 Print Quick Private Limited
5 Origin Instrumentation Private Limited
6 Contech Soft-Tech Solution Pvt. Ltd
7 Telematra Systems Pvt. Ltd.
8 Mitramax Energy Pvt. Ltd.
10. Taxes on Income (Accounting Standard - AS 22):
(i) No provision is made for current tax in view of the business loss
during current year and unabsorbed business loss of previous year
(ii) Deferred Tax Liability / (Asset) at the year end comprises timing
difference on account of:
* Deferred tax asset on carried forward unabsorbed business loss has
been considered to the extent of deferred tax liability for the year.
Deferred tax asset on the balance of such carried forward losses has
not been recognized in the absence of virtual certainty of future
taxable income.
11. Previous year figures have been re-grouped and re-classified
wherever necessary
Mar 31, 2014
1. Contingent Liabilities:
No. Particulars 2013 - 14 2012 - 13
1. Disputed Tax / Duty Demands 10,33,26,536 8,68,74,453
Not Provided For
2. Corporate Guarantees given to Nil 41,90,030
Bank on account of Subsidiary
/ Other Companies
3. Bank Guarantees given on behalf 5,79,57,810 6,86,87,812
of Company to third parties.
2. Employee Benefit:-
The Company provides benefits to its employees under the Leave
Encashment pay plan which is a non-contributory defined benefit plan.
The employees of the Company during the tenure of their employment are
entitled to receive leave encashment in excess of 60 days leave to the
credit of their account as on 1st January every year.
The benefit of Gratuity is funded defined benefit plan. For this
purpose the Company has obtained a qualifying insurance policy from LIC
of India, and the same is partially funded by the Company.
3 Segment Reporting (Accounting Standard - AS 17):
The Company is engaged in business / operations of manufacture, sale
and servicing of professional electronic equipment. Though the Company
has a range of products, they all fall within the single segment of
electronic equipment. It is a considered view of the management that
the Company has no reportable segments envisaged in the Accounting
Standard (AS17) ''Segment Reporting''issued by the Institute of
Chartered Accountants of India.
Mar 31, 2013
1. Expenditure on Research & Development (as certified by the
Management):
The Company is entitled to benefit u/s 35(2AB) of the Income Tax Act,
1961 as per renewal dated 19.05.2010 received from Ministry of Science
and Technology, Government of India, DSIR, New Delhi, valid for the
period 1.4.2010 to 31.03.2013. Renewal application filed on 15th
February, 2013 vide reference no.R&D/2013/609
2. None of the items in Raw material individually accounts for 10% or
more of the total value of material consumed. In the absence of
verifiable records the Auditors have relied upon the management''s
representation to this behalf.
3. Segment Reporting (Accounting Standard -AS 17):
The Company is engaged in business / operations of manufacture, sale
and servicing of professional electronic equipment. Though the Company
has a range of products, they all fall within the single segment of
electronic equipment. It is a considered view of the management that
the Company has no reportable segments envisaged in the Accounting
Standard (AS17) "Segment Reporting"issued by the Institute of Chartered
Accountants of India.
4. Related Party Disclosures (Accounting Standard AS 18):
List of Related Parties and Relationship Subsidiary Companies:
Intel Instruments and Systems Limited (Merged with Holding Company
w.e.f.31st March 2013) Sprylogic Technologies Ltd
Joint Venture
Arabian Power Electronics Company. (Joint Venture business in Saudi
Arabia)
Associates (enterprises where Aplab Limited and its subsidiaries have
20% holding or investing parties who have over 20% holding in Aplab
Limited)
Zee Entertainment Enterprises Ltd (Formerly Zee Telefilms Ltd)
Key Management Personnel:
Mr. P.S. Deodhar Chairman
Mr. Nishith Deodhar Managing Director
Mrs.Neelam K Kumar Executive Director (Resigned w.e.f. 3" May,2012)
Mrs. Amrita Deodhar Director
Relatives of Key Management Personnel: Mrs. Aruna Narayanan
5. Taxes on Income (Accounting Standard -AS 22):
(i) No provision is made for current tax in view of the unabsorbed
business loss and unabsorbed depreciation
(ii) Deferred Tax Liability / (Asset) at the year end comprises timing
difference on account of:
6. As per the requirement of Revised Schedule VI, the company has
reclassified its assets and liabilities into current and non- current
based on the normal operating cycle, as determined by the management.
Previous year figures have been accordingly re-grouped and
re-classified.
Mar 31, 2012
1. Balance with schedule Bank include Rs.13,038,127
(P.Y. Rs.12,470,426) representing margin money for letter of credit
and bank guarantees issued
2. Section 205 of the Companies Act, 1956 mandates that companies
transfer dividend that has been unclaimed for period of seven years
from unpaid dividend account to Investor Education & Protection Fund
(IEPF),.
Accordingly if dividend is unclaimed for a period of seven years, it
will be transferred to IEPF.
3. Audit Fees Rs.7,50,000 (Rs.7,50,000) ,Tax Audit Fees Rs.1,10,000
(Rs.1,10,000) Management Services Rs.1,35,000 (Rs.1,35,000) Limited
Review and Corporate Governance and other Certification Fees
Rs.4,08,000 (Rs.3,92,000), Expenses reimbursed and Services tax
Rs.2,65,839 (Rs.2,61,985).
4. Suppliers/Service providers covered under Micro, Small Medium
Enterprises Development Act, 2006 have not furnished the information
regarding filing of necessary memorandum with the appropriate
authority. In view of this, information required to be disclosed u/s 22
of the said Act is given to the extent available:-
5. None of the items in Raw material individually accounts for 10% or
more of the total value of material consumed. In the absence of
verifiable records the Auditors have relied upon the management's
representation to this behalf.
6. Contingent Liabilities:
No. Particulars 2011 - 12 2010 - 11
1. Disputed Tax / Duty Demands
Not Provided For 7,55,22,455 2,36,07,469
2. Corporate Guarantees given to
Bank on account of Subsidiary 63,69,734 67,45,525
/ Other Companies
3. Bank Guarantees given on behalf
of Company to third parties. 9,84,73,226 19,13,68,292
7. I) The Company recognizes its Gratuity liability on the basis of
contribution to the LIC Group Gratuity Scheme. During the
year, LIC informed the Company that based on its actuarial valuation as
of March 31, 2012 a contribution of Rs.8,60,44,190/- is required to
make the Scheme fully funded. Gratuity expenditure recognized includes
Rs.5,00,000/- being the contribution for financial year 2011-12
ii) Employee benefit:-
The Company provides benefits to its employees under the Leave
Encashment pay plan which is a non-contributory defined benefit plan.
The employees of the Company during the tenure of their employment are
entitled to receive leave encashment in excess of 60 days leave to the
credit of their account as on 1st January every year.
The benefit of Gratuity is funded defined benefit plan. For this
purpose the Company has obtained a qualifying insurance policy from LIC
of India.
8 Segment Reporting (Accounting Standard à AS 17):
The Company is engaged in business / operations of manufacture, sale
and servicing of professional electronic equipment. Though the Company
has a range of products, they all fall within the single segment of
electronic equipment. It is a considered view of the management that
the Company has no reportable segments envisaged in the Accounting
Standard (AS17) "Segment Reporting"issued by the Institute of Chartered
Accountants of India.
9 Related Party Disclosures (Accounting Standard AS 18): List of
Related Parties and Relationship
Subsidiary Companies:
Intel Instruments and Systems Limited Sprylogic Technologies Ltd
Associates (enterprises where Aplab Limited and its subsidiaries have
20% holding or, investing parties who have over 20% holding in Aplab
Limited)
Zee Entertainment Enterprises Ltd (Formerly Zee Telefilms Ltd)
Key Management Personnel:
Mr. P.S. Deodhar Chairman
Mr. Nishith Deodhar Managing Director
Mr. S.A.Joshi Executive Director (Retired w.e.f.31-7-2011)
Mrs.Neelam K Kumar Executive Director
Mrs Amrita Deodhar Director
Relatives of Key Management Personnel: Mrs. Aruna Narayanan Mr Arun
Deodhar
Enterprises over which key management personnel and their relatives are
able to exercise significant influence
10. As per the requirement of Revised Schedule VI, the company has
reclassified its assets and liabilities into current and non- urrent
based on the normal operating cycle, as determined by the management.
Previous year figures have been accordingly re-grouped and
re-classified.
Mar 31, 2010
1. i) The Company recognises its Gratuity liability on the basis of
contribution to the LIC Group Gratuity Scheme. During the year, LIC
informed the Company that based on its actuarial valuation as of March
31, 2010 a contribution of Rs.3,54.37 lacs is required to make the
Scheme fully funded. Gratuity expenditure recognized includes Rs.22.51
lacs being the contribution for financial year 2009-10.
ii) Employee benefit:-
The Company provides benefits to its employees under the Leave
Encashment pay plan which is a non-contributory defined benefit plan.
The employees of the Company during the tenure of their employment are
entitled to receive leave encashment in excess of 60 days leave to the
credit of their account as on 1st January every year.
The benefit of Gratuity is funded defined benefit plan. For this
purpose the Company has obtained a qualifying insurance policy from LIC
of India.
2. Payments to Directors
Approval of Central Government has been received in respect of
Mr.P.S.Deodhar upto 30.09.2009. ii) Mr.Nishith P.Deodhar as Executive
Director up to 31.10.2009. Mr.S.A.Joshi and Mrs N.K.Kumar as Executive
Direct for the period up to 31.07.2008. The approval of Central
Government is pending in respect of i) Mr.Nishith P.Doedhar as Managing
Director for the period of 3 years from 1.11.2009 and ii) Mr.SAJoshi
and Mrs. N.K.Kumar for the period of 3 years from 1.8.2008. The
appointment / reappointment and remuneration including revision/
amendment therein where applicable has been approved in the Annual
General Meeting held on 25.06.2009 and by Shareholders by special
resolution approved vide Postal ballot result of which were announced
on 08.01.2010 and 30.04.2010. The remuneration paid / provided for this
period is within the limits of schedule XIII to the Companies Act, 1956
3. Payment to Auditors:
Audit Fees Rs.7.50 Lacs(Rs.7.50 Lacs) ,Tax Audit Fees Rs.1.10 Lacs (
Rs.1.10 Lacs) Management Services Rs.1.35 Lacs(Rs.1.35 Lacs) Limited
Review and Corporate Governance and other Certification Fees Rs. 4.75
Lacs (Rs. 2.10 Lacs), Expenses reimbursed and Services tax Rs. 2.72
Lacs (Rs 2.59 Lacs)
4. Investment in shares of Intel Instruments & Systems Limited, a
subsidiary company Rs.2,25.00 Lacs (Rs.2,25.00 Lacs) and Rs. 2,46.76
Lacs (Rs. 3,38.66 Lacs) other dues from that Company are considered
good in view of the strategic nature of this investment and the
subsidiarys ongoing and potential business operations.
5. Loans and Advances in Schedule 7 include:
Rs. 10.71 Lacs ( Rs.6.16 Lacs) as Sales Tax , in respect of which
matters are pending with the appellate authorities and,
Rs.14.70 Lacs (Rs.14.70 Lacs) towards compensation paid to MTNL, in
respect of which the Company has filed a suit for recovery.
6. The Company is entitled to benefit available u/s35(2AB) of the
Income Tax Act, 1961 as per renewal dated 31/05/07 received from
Ministry of Science and Technology, Govt, of India, DSIR, New Delhi,
valid for 01.04.2007 to 31.03.10 .
7. Segment Reporting (Accounting Standard -AS 17)
The Company is engaged in business / operations of manufacture, sale
and servicing of professional electronic equipment. Though the Company
has a range of products, they all fall within the single segment of
electronic equipment. It is a considered view of the management that
the Company has no reportable segments envisaged in the Accounting
Standard (AS17) "Segment Reporting" issued by the Institute of
Chartered Accountants of India.
8. Related Party Disclosures (Accounting Standard AS 18) List of
Related Parties and Relationship
Subsidiary Companies :
Intel Instruments and Systems Limited Sprylogic Technologies Ltd
Associates (enterprises where Aplab Limited and its subsidiaries have
20% holding or, investing parties who have over 20% holding in Aplab
Limited)
Zee Entertainment Enterprises Ltd. (Formerly Zee Telefilms Limited)
Key Management Personnel:
Mr. P.S. Deodhar Chairman
Mr. Nishith Deodhar Managing Director
Mr. S.A.Joshi Executive Director
Mrs.Neelam K Kumar Executive Director
Relatives of Key Management Personnel:
Mrs. A. P. Deodhar
Mrs. Aruna Narayanan
Mr Arun Deodhar
Enterprises over which key management personnel and their relatives are
able to exercise significant influence
Sr.No. Name of the Party
1 Deodhar Electro Design Pvt Ltd
2 TTL Technologies Private Limited
3 Intel Exports Corporation
4 Telemetries Incorporated
5 Print Quick Private Limited
6 Origin Instrumentation Private Limited
7 Contech Soft-Tech Solution Pvt. Ltd
8 Telemetra Systems Pvt. Ltd
9 A.N. Associates
10 Dakshin Media Gaming Solutions Pvt. Ltd.
11 Aalay Interiors
12 Digital Media Convergence Ltd
9. Additional information pursuant to paragraphs 3, 4C and, 4D of part
II of Schedule VI to the Companies Act, 1956.
Information regarding capacity, stocks, production and sale (as
certified by Management)
I) Licensed Capacity: Not applicable
ii) Installed Capacity:
Production of the items manufactured by the Company does not require
special machinery. Production depends largely upon designing skills
adequate space and competent staff. The term "installed capacity" does
not have relevance in relation to the items manufactured by the Company