Mar 31, 2015
1. CORPORATE INFORMATION:
Catvision Limited, a public limited company incorporated under the
Indian Companies Act, 1956, is listed on the Bombay Stock Exchange
(Code: 53118). The company was incorporated as Catvision Products
Limited on 28th June 1985. The name of the company was changed to
Catvision Limited after obtaining a fresh certificate of incorporation.
2. BASIS OF PREPERATION:
The company has prepared its financial statements in accordance with
generally accepted accounting principles in India (Indian GAAP). While
preparing these financial statements, the company has complied with
accounting standards notified under the Companies (Accounting
Standards) Rules, 2006, (as amended) and the relevant provisions of the
Companies Act, 1956.
The financial statements have been prepared on an accrual basis and
under the historical cost convention which are carried at revalued
amounts.
The accounting policies adopted in the preparation of financial
statements are consistent with those of previous year.
3. The rights, power and preference relating to each class of shares:
(i) The company has only one class of shares having a par value of '
10/- per share. Each holder of Equity Shares is entitled to vote per
share. The Company declares and pay dividend in Indian Rupees.
(ii) In the event of liquidation of the Company, the holders of equity
shares will be eligible to receive the remaining assets of the Company
after distribution of all preferential amounts. The distribution will
be in proportions to the number of equity shares held by the
shareholders.
The Cash credit facilities from Axis Bank Ltd., B-2, B-3, sector -16,
Noida, U.P are repayable on demand and are secured by first legal
mortgage on land , building and plant and machinery of the Company
situated at Noida and Selaqui-Dehra Dun and hypothecation of Stock,
Book Debts and personal guarantees of Promoter Directors.
a) The Company has adopted the revised Accounting Standard (AS) 15,
'Employee Benefits' issued by the Institute of Chartered Accountants of
India w.e.f. 1st April 2007.
b) Contribution to Provident Fund : Amount of Rs. 2394994/- (Previous
year Rs. 2367949/- ) is recognised as an expense and included in
Employees Remuneration and benefits (Refer Note 29) in the Statement of
Profit & Loss for the year ended 31st March 2015.
c) Gratuity : The following table sets out the status of the Defined
Benefits Plan as at 31st March 2015 which is based on the report
submitted by an Independent Actuary :
The company has initiated the process of obtaining confirmation from
suppliers who have registered themselves under Micro and Small Medium
Enterprises Development Act. 2006 (MSMED Act, 2006). Based on the
information available with the Company, the balance due Micro and Small
Medium Enterprises as defined under the MSMSED Act, 2006 is Nil.
Further no interest during the year has been paid or payable under the
terms of the MSMED Act. 2006.
Some of the customers and suppliers accounts are pending
confirmation/reconciliation and the same have been taken as the
balances appearing in the books. Any differences arising on account of
such reconciliation, which are not likely to be material, will be
accounted for as and when these reconciliations are completed.
4. RELATED PARTY DISCLOSURE:
As per Accounting Standard (AS- 18) issued by the Institute of
Chartered Accountants of India, information in terms of the said
Standard, are disclosed below :
(a) The name of related parties of the Company are as under :-
i. Company having substantial interest
Name of the Company Country of Incorporation
Catvision Unitron Pvt. Ltd. India
Unicat Ltd. UAE
ii. Associates:-
Name of the Company Country of Incorporation
Catvision Unitron Pvt. Ltd. India
Unicat Ltd. UAE
iii. Key Managerial Personnel :
Particulars Relation
Mr. S. A. Abbas Managing Director
Mr. Vinod Rawat Chief Financial Officer
Ms. Rency George Company Secretary
iv. Others Key Managerial Personnel :
Particulars Relation
Mr. Sudhir Damodaran Executive Director
Mrs. Hina Abbas Executive Director
5. SEGMENT REPORTING POLICIES
a) Primary Segment:
Based on the guiding principle given in the Accounting Standard - 17
"Segment Reporting" issued by the Institute of Chartered Accountants of
India, the Company has identified two business segments as primary
segments. The reportable business segments are "Products" and
"Operations & Services". These segments have been identified
considering the nature of the products and the internal financial
reporting systems.
Revenue and expenses have been accounted for based on the basis of
their relationship to the operating activities of the segments. Revenue
and expenses, which relate to the enterprise as whole and are not
allocable to segments on a reasonable basis, have been included under
Unallocable Revenue and Expenses. Assets and Liabilities, which relate
to the enterprise as a whole and are not allocable to segments on a
reasonable basis, have been included under Unallocable
Assets/Liabilities.
Mar 31, 2014
NOTE 1 : CORPORATE INFORMATION:
Catvision Limited, (formerly known as Catvision Products Ltd (the
company) is a public limited Company incorporated under the provisions
of the Companies Act, 1956. Its shares are listed at Mumbai Stock
Exchange. The company is engaged in the manufacturing and selling of
CATV equipments energy management system etc. The company caters to
both domestic and international markets.
NOTE 2 : BASIS OF PREPERATION:
The company has prepared its financial statements in accordance with
generally accepted accounting principles in India (Indian GAAP). While
preparing these financial statements, the company has complied with
accounting standards notified under the Companies (Accounting
Standards) Rules, 2006, (as amended) and the relevant provisions of the
Companies Act, 1956. The financial statements have been prepared on an
accrual basis and under the historical cost convention which are
carried at revalued amounts.
The accounting policies adopted in the preparation of financial
statements are consistent with those of previous year.
NOTE 3 : DEFERRED TAX LIABILITY (NET):
Deferred Tax has been provided in accordance with Accounting Standard-
22 "Accounting for Taxes on Income" issued by the Institute of
Chartered Accountants of India. The computation of Deferred Tax Assets/
Deferred Ta x Liabilities as on 31st March 2014 is as follows:
Year Ended Year Ended
31.03.2014 31.03.2013
rs rs
NOTE 4 : CONTINGENT LIABILITIES AND COMMITMENT:
i) Unexpired Bank Guarantee 774,272 2,457,316
ii) Claim against the company not acknowledged
as debits* 4,186,003 10,192,325
iii) Unexpired Letter of Credits 2,935,885 8,652,818
a. The claim against the Company comprises of an deduction of Rs.
3,386,003 by Telecommunication Consultants India Ltd. (TCIL) on
account of alleged past dues. The said claim for dedecution is not only
illegal but also time barred. The Company has suitbaly defended the
said claim before the appropriate court.
b. Based on the favorable decisions in similar cases/legal opinions
taken by the company/discussions with its legal advisors etc. the
Company believes that it has good cases in respect of the item no. (ii)
and hence no provision there against is considered necessary.
NOTE 5 : EMPLOYEES BENEFIT:
a) The company has adopted the revised Accounting Standard (AS) 15,
''Employee Benefits'' issued by the Institute of Chartered Accountants of
India w.e.f. 1st April 2007.
b) Contribution to Provident Fund : Amount of Rs. 2367949/- (Previous
year Rs. 2206642/- ) is recognised as an expense and included in
Employees Remuneration and Benefits (Refer Schedule 15) in Statement of
the Profit & Loss for the year ended 31st March 2014.
NOTE 6 :
The company has initiated the process of obtaining confirmation from
suppliers who have registered themselves under Micro and Small Medium
Enterprises Development Act. 2006 (MSMED Act, 2006). Based on the
information available with the company, the balance due Micro and Small
Medium Enterprises as defined under the MSMSED Act, 2006 is Nil.
Further no interest during the year has been paid or payable under the
terms of the MSMED Act. 2006 Some of the customers and suppliers
accounts are pending confirmation/reconciliation and the same have been
taken as the balances appearing in the books. Any differences arising
on account of such reconciliation, which are not likely to be material,
will be accounted for as and when these reconciliations are completed.
NOTE 7 : RELATED PARTY DISCLOSURE:
As per Accounting Standard (AS- 18) issued by the Institute of
Chartered Accountants of India, information in terms of the said
Standard, are disclosed below :
i. The company does not have any related party transaction, where
control exists.
ii. Related Parties with whome transactions have taken place during
the year ended 31st March, 2014 :
a) Key Managerial Personnel :Mr. S. A. Abbas
: Mr. Sudhir Damodaran
b) Relatives of Key Managerial Personnel : Mrs. Hina Abbas
c) Joint Venture Company : M/s Catvision Unitron Private Limited
d) Enterprises in which key managerial personnel : Total Telemedia
Private Limited along with their relatives exercise significant
influence
NOTE 8 : SEGMENT REPORTING POLICIES: a) Primary Segment:
Based on the guiding principle given in the Accounting Standard - 17
"Segment Reporting" issued by the Institute of Chartered Accountants of
India, the company has identified two business segments as primary
segments. The reportable business segments are "Products" and
"Operations & Services". These segments have been identified
considering the nature of the products and the internal financial
reporting systems.
Revenue and expenses have been accounted for based on the basis of
their relationship to the operating activities of the segments. Revenue
and expenses, which relate to the enterprise as whole and are not
allocable to segments on a reasonable basis, have been included under
Unallocable Revenue and Expenses. Assets and Liabilities, which relate
to the enterprise as a whole and are not allocable to segments on a
reasonable basis, have been included under Unallocable
Assets/Liabilities.
NOTE 9 :
Figures of the previous year have been regrouped/ reclassified
whereever necessary.
NOTE 10 :
The figures have been rounded off to the nearest Rupee.
Mar 31, 2013
NOTE 1 : CORPORATE INFORMATION:
Catvision Limited, (formerly known as Catvision Products Ltd (the
company) is a public limited Company incorporated under the provisions
of the Companies Act, 1956. Its shares are listed at Mumbai Stock
Exchange. The Company is engaged in the manufacturing and selling of
CATV equipments energy management system etc. The Company caters to
both domestic and international markets.
NOTE 2 : BASIS OF PREPERATION:
The Company has prepared its financial statements in accordance with
generally accepted accounting principles in India (Indian GAAP). While
preparing these financial statements, the company has complied with
accounting standards notified under the Companies (Accounting
Standards) Rules, 2006, (as amended) and the relevant provisions of the
Companies Act, 1956.
The financial statements have been prepared on an accrual basis and
under the historical cost convention which are carried at revalued
amounts.
The accounting policies adopted in the preparation of financial
statements are consistent with those of previous year.
NOTE 3 : EMPLOYEES BENEFIT
a) The Company has adopted the revised Accounting Standard (AS) 15,
Employee Benefits issued by the Institute of Chartered Accountants of
India w.e.f. 1st April 2007.
b) Contribution to Provident Fund : Amount of 2,206,642/- (Previous
year 1,720,532/-) is recognised as an expense and included in
Employees Remuneration and benefits (Refer Note 22) in the Statement of
Profit & Loss for the year ended 31st March 2013.
c) Gratuity : The following table sets out the status of the Defined
Benefits Plan as at 31st March 2013 which is based on the report
submitted by an Independent Actuary :
NOTE 4 :
The Company has initiated the process of obtaining confirmation from
suppliers who have registered themselves under Micro and Small Medium
Enterprises Development Act. 2006 (MSMED Act, 2006). Based on the
information available with the Company, the balance due Micro and Small
Medium Enterprises as defined under the MSMSED Act, 2006 is Nil.
Further no interest during the year has been paid or payable under the
terms of the MSMED Act. 2006 Some of the customers and suppliers
accounts are pending confirmation/reconciliation and the same have been
taken as the balances appearing in the books. Any differences arising
on account of such reconciliation, which are not likely to be material,
will be accounted for as and when these reconciliations are completed.
NOTE 5 : RELATED PARTY DISCLOSURE
As per Accounting Standard (AS- 18) issued by the Institute of
Chartered Accountants of India, information in terms of the said
Standard, are disclosed below :
i. The Company does not have any related party transaction, where
control exists.
ii. Related Parties with whome transactions have taken place during
the year ended 31st March, 2010 :
a) Key Managerial Personnel : : Mr. S. A. Abbas
: Mr. Sudhir Damodaran
b) Relatives of Key Managerial Personnel : : M Hina Abbas
c) Joint venture Company : : M/s Catvision Unitron Pvt. Ltd.
NOTE 6:
In the opinion of the Board of Directors, Current Assets, Loans and
Advances are approximately of the value stated, if realised in the
ordinary course of business.
NOTE 7 : SEGMENT REPORTING POLICIES
a) Primary Segment: Based on the guiding principle given in the
Accounting Standard - 17 Segment Reporting" issued by the Institute of
Chartered Accountants of India, the Company has identified two business
segments as primary segments. The reportable business segments are
Products" and Operations & Services". These segments have been
identified considering the nature of the products and the internal
financial reporting systems.Revenue and expenses have been accounted
for based on the basis of their relationship to the operating
activities of the segments. Revenue and expenses, which relate to the
enterprise as whole and are not allocable to segments on a reasonable
basis, have been included under Unallocable Revenue and Expenses.
Assets and Liabilities, which relate to the enterprise as a whole and
are not allocable to segments on a reasonable basis, have been included
under Unallocable Assets/Liabilities.
NOTE 8 :
Figures of the previous year have been regrouped/ reclassified
whereever necessary.
NOTE 9 :
The figures have been rounded off to the nearest Rupee.
Mar 31, 2010
A. NATURE OF OPERATION :
The Company offers vide range of CATV products to cable operators and
broadcasters, CATV/ SMATV and energy saving equipments to hotels and
security solutions to hotels, shopping malls and big commercial
centers.
1. Contingent Liabilities :
as at as at
31.03.2010 3103 2009
(Rupees) (Rupees)
i) Unexpired Bank Guarantees 2,616,521 70,000
ii) Claim against the company not
acknowledged as debits 5,850,053 5,850,053
iii) Unexpired Letter of Credits 1,025,355 11,036,432
Note : Based on the favorable decisions in similar cases/legal opinions
taken by the company/discussions with its legal advisors etc. the
Company believes that it has good cases in respect of the item no. (ii)
and hence no provision there against is considered necessary.
2. Employees Benefit :
a) The Company has adopted the revised Accounting Standard (AS) 15,
ÃEmployee Benefitsà issued by the Institute of Chartered Accountants of
India w.e.f. 1st April 2007.
b) Contribution to Provident Fund : Amount of Rs. 1610050/- (Previous
year Rs. 1536928/- ) is recognised as an expense and included in
Employees Remuneration and benefits (Refer Schedule 15) in the Profit &
Loss Account for the year ended 31st March 2010.
3. The Company has initiated the process of obtaining confirmation
from suppliers who have registered themselves under Micro and Small
Medium Enterprises Development Act. 2006 (MSMED Act, 2006). Based on
the information available with the Company, the balance due Micro and
Small Medium Enterprises as defined under the MSMSED Act, 2006 is Nil.
Further no interest during the year has been paid or payable under the
terms of the MSMED Act. 2006.
4. Some of the customers and suppliers accounts are pending
confirmation/reconciliation and the same have been taken as the
balances appearing in the books. Any differences arising on account of
such reconciliation, which are not likely to be material, will be
accounted for as and when these reconciliations are completed.
5. Related Party Disclosure :
As per Accounting Standard (AS- 18) issued by the Institute of
Chartered Accountants of India, information in terms of the said
Standard, are disclosed below :
i. The Company does not have any related party transaction, where
control exists.
ii. Related Parties with whome transactions have taken place during
the year ended 31st March, 2010 :
a) Key Managerial Personnel :
Mr. S. A. Abbas
Mr. Sudhir Damodaran
b) Relatives of Key Managerial Personnel :
Mrs. Hina Abbas Mrs. A. C.
6. In the opinion of the Board of Directors, Current Assets, Loans and
Advances are approximately of the value stated, if realised in the
ordinary course of business.
7. Figures of the previous year have been regrouped/ reclassified
whereever necessary.
8. The figures have been rounded off to the nearest Rupee.
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