Jun 30, 2014
1. Related Party Transactions:
During the period July 2013 to June 2014, the Company has entered into
some transactions, which can be deemed as related party transactions.
All these matters have been approved by the Board and the Govt. of
India, wherever necessary.
2. Since the current year is the first year of consolidation, the
company has not presented the comparative consolidated figures for the
previous year ended 30th June, 2013, which has been provided in AS-21.
3. The post acquisition loss of Rs. 27,24,919 attributable to minority
share holders of CES Information Technologies Private Limited has been
adjusted against the post acquisition reserves of the Company. When the
said subsidiary reports profits in the subsequent years, all such
profits are allocated to the Company until the Minority share of losses
currently absorbed has been recovered.
4. There are no dues to SSI units outstanding for more than 30 days.
5. The balances receivable from debtors and payable to creditors at the
year-end are subject to confirmation from the respective debtors and
creditors.
6. The Company has circulated letters to its suppliers seeking
information about their status as mentioned in the Micro Small and
Medium Enterprise Development Act, 2006. Since the information from the
suppliers has not been received, the provisioning of the interest and
disclosure requirement under Schedule VI to the Companies Act, 1956
could not be complied with.
7. The Company has established an overseas branch in USA during the
last quarter of current financial year to provide IT Services & IT
Enabled Services (ITES) to its esteemed customers. While preparing the
financial statements of the company for the year, all the transactions
of the overseas branch are also included in the financial statements of
the company.
8. The Companies operations predominantly relate to providing IT
Services in two primary business segments viz. IT Services and IT
Enabled Services (ITES). The Company considers the business segment as
the Primary Segment and Geographical Segment based on the location of
the customers as the Secondary Segment.
The accounting principles consistently used in the preparation of the
financial statements are also consistently applied to record income and
expenditure in individual segments. Income and direct expenses in
relation to segments are categorized based on items that are
individually identifiable to that segment, while the remainders of
costs are apportioned on an appropriate basis. Certain expenses are not
specifically allocable to individual segments as underlying services
are used interchangeably. The Company therefore believes that it is not
practical to provide segment disclosures relating to such expenses and
accordingly such expenses are separately disclosed as unallocable and
directly charged against total income.
The assets of the Company are used interchangeably between segments,
and the management believes that it is currently not practical to
provide segment disclosures relating to total assets and liabilities
since a meaningful segregation is not possible.
9. The figures have been rounded off to the nearest rupee.
Jun 30, 2013
1. There are no dues to SSI units outstanding for more than 30 days.
2. The balances receivable from debtors and payable to creditors at
the year-end are subject to confirmation from the respective debtors
and creditors.
3. Related Party Transactions:
During the period July 2012 to June 2013, the Company has entered into
some transactions, which can be deemed as related party transactions.
All these matters have been approved by the Board and the Govt. of
India, wherever necessary.
4. The Company is engaged in Software Development, IT Services and IT
Enabled Services. The production and sale of such software and services
cannot be expressed in any generic unit. Hence, it is not possible to
give the quantitative details of sales and the information as required
under Paragraphs 3 and 4C of Part II of Schedule VI to the Companies
Act, 1956.
M/s. CES Private Limited (Formerly known as Computech Enterprise
Solutions Private Limited) was incorporated in the year 2001. The
company is a leading IT Services and Software Development firm
providing the highest quality IT Services and solutions at low cost to
broad array of public and private sector clients around the world. CES
including its investments by way of shares in other bodies corporate
other than the customized software development business were proposed
to be transferred to and vested in CES LIMITED (Formerly Known as Serve
All Enterprise Solutions Limited) on a going concern basis with effect
from 1st June, 2010.
CES LIMITED (Formerly Known as Serve All Enterprise Solutions Limited)
has received the principle approval from the Bombay Stock Exchange on
20th May, 2011.
In terms of the Scheme of Arrangement (The Scheme) between M/s. CES
Private Limited and CES LIMITED (Formerly Known as Serve All Enterprise
Solutions Limited) and their respective Shareholders, the company
submitted Company Petition No.215 of 2011 connected with Application
No.1524 of 2011as per the Companies Act, 1956 (1 of 1956) Under
Sections 391 and 394 before the Honorable High Court at Andhra Pradesh.
The Scheme was approved by the Shareholders of the Company (CES LIMITED
(Formerly Known as Serve All Enterprise Solutions Limited)) in the
Extra Ordinary General Meeting held on 5th November, 2011 which was
convened by the Honorable High Court of Andhra Pradesh.
This scheme is presented under Section 391 to 394 and other applicable
provisions of the Companies Act, 1956 for the transfer and merger of
Business division of CES Private Limited with CES LIMITED (Formerly
Known as Serve All Enterprise Solutions Limited). For the transfer and
vesting of Business division of CES Private Limited, CES LIMITED
(Formerly Known as Serve All Enterprise Solutions Limited) allot One
equity Share of Face value of Rs.10/- each fully paid up and 29 Share
Warrants to be converted into Equity Shares of Rs.10/- each fully paid
up in proportion to 60, 00,000 equity shares of Rs.10/- each held by
every member of CES Private Limited.
This scheme between CES Private Limited and CES LIMITED (Formerly Known
as Serve All Enterprise Solutions Limited) with effect from 1st June
2010 has been approved by the Hon''ble court of Andhra Pradesh vide its
order dated 21st January 2013.
5. In terms of the Scheme of Amalgamation (The Scheme) between M/s.
Decatrend Technologies Private Limited (the Transferor) and CES LIMITED
(Formerly Known as Serve All Enterprise Solutions Limited) (the
Transferee), the transferor company has submitted Company Petition
No.182 of 2013 connected with Application No.815 of 2013 as per the
Companies Act, 1956 (1 of 1956) Under Sections 391 and 394 before the
Honorable High Court at Andhra Pradesh.
This scheme is presented under Section 391 to 394 and other applicable
provisions of the Companies Act, 1956 for amalgamation of Transferor
Company with the transferee and as the entire Share Capital of the
Transferor Company is held by the Transferee Company and its nominees,
no shares are of the transferee company shall be allotted in lieu or
exchange of its holding in the transferor company and the investment
made in the transferor company by way of the share capital by the
transferee company shall stand cancelled and accordingly shall stand
extinguished without any further application, act or deed or thing to
be done by any person.
This scheme of amalgamation between M/s. Decatrend Technologies Private
Limited which is 100% wholly owned subsidiary to CES LIMITED (Formerly
Known as Serve All Enterprise Solutions Limited) has been approved by
the Hon''ble High Court of Andhra Pradesh vide its order dated 8th
October 2013 with effect from 1st of April 2012.
6. The Company has circulated letters to its suppliers seeking
information about their status as mentioned in the Micro Small and
Medium Enterprise Development Act, 2006. Since the information from the
suppliers has not been received, the provisioning of the interest and
disclosure requirement under Schedule VI to the Companies Act, 1956
could not be complied with.
7. The Companies operations predominantly relate to providing IT
Services in two primary business segments viz. IT Services and IT
Enabled Services. The Company considers the business segment as the
Primary Segment and Geographical Segment based on the location of the
customers as the Secondary Segment.
The accounting principles consistently used in the preparation of the
financial statements are also consistently applied to record income and
expenditure in individual segments. Income and direct expenses in
relation to segments are categorized based on items that are
individually identifiable to that segment, while the remainders of
costs are apportioned on an appropriate basis. Certain expenses are not
specifically allocable to individual segments as underlying services
are used interchangeably. The Company therefore believes that it is not
practical to provide segment disclosures relating to such expenses and
accordingly such expenses are separately disclosed as un allocable and
directly charged against total income.
The assets of the Company are used interchangeably between segments,
and the management believes that it is currently not practical to
provide segment disclosures relating to total assets and liabilities
since a meaningful segregation is not possible.
8. Previous year''s figures have been regrouped wherever necessary.
9. The figures have been rounded off to the nearest rupee.
Jun 30, 2012
1. Company overview
Serve All Enterprise Solutions Limited (The "Company") is an
Information Technology (IT) and Information Technology Enabled Services
(ITES) provider, dedicated to serving the midsize market of global
enterprises.
- M/s. CES Private Limited (Formerly known as Computech Enterprise
Solutions Private Limited) was incorporated in the year 2001. The
company is a leading IT Services and Software Development firm
providing the highest quality IT Services and solutions at low cost to
broad array of public and private sector clients around the world. CES
including its investments by way of shares in other bodies corporate
other than the customized software development business were proposed
to be transferred to and vested in SERVE ALL ENTERPRISE SOLUTIONS
LIMITED on a going concern basis with effect from 1st June, 2010.
- SERVE ALL ENTERPRISE SOLUTIONS LIMITED has received the principle
approval from the Bombay Stock Exchange on 20 th May, 2011.
In terms of the Scheme of Arrangement (The Scheme) between M/s. CES
Private Limited and M/s. Serve All Enterprise Solutions Limited and
their respective Shareholders, the company submitted Company Petition
No.215 of 2011 connected with Application No.1524 of 2011as per the
Companies Act, 1956 (1 of 1956) Under Sections 391 and 394 before the
Honorable High Court at Andhra Pradesh.
The Scheme was approved by the Share holders of the Company (Serve All
Enterprise Solutions Limited) in the Extra Ordinary General Meeting
held on 5th November, 2011 which was convened by the Honorable High
Court of Andhra Pradesh.
This scheme is presented under Section 391 to 394 and other applicable
provisions of the Companies Act, 1956 for the transfer and merger of
Business division of CES Private Limited with Serve All Enterprise
Solutions Limited. For the transfer and vesting of Business division of
CES Private Limited, Serve All Enterprise Solutions Limited allot One
equity Share of Face value of Rs.10/- each fully paid up and 29 Share
Warrants to be converted into Equity Shares of Rs.10/- each fully paid
up in proportion to 60, 00,000 equity shares of Rs.10/- each held by
every member of CES Private Limited.
This scheme between CES Private Limited and Serveall Enterprise
Solutions Limited with effect from 1st June 2010 has been approved by
the Hon''ble court of Andhra Pradesh vide its order dated 21st January
2013 and accordingly the effect of the scheme has been considered in
the books of accounts.
The balances receivable from debtors and payable to creditors at the
year end are subject to confirmation from the respective debtors and
creditors.
- The Company is engaged in Software Development, IT Services and IT
Enabled Services. The production and sale of such software and services
cannot be expressed in any generic unit. Hence, it is not possible to
give the quantitative details of sales and the information as required
under Paragraphs 3 and 4C of Part II of Schedule VI to the Companies
Act, 1956.
- Related Party Transactions
During the financial year 2012 -13 the Company has entered into some
transactions, which can be deemed as related party transactions. All
these matters have been approved by the Board and the Govt. of India,
wherever necessary.
- The Company has circulated letters to its suppliers seeking
information about their status as mentioned in the Micro Small and
Medium Enterprise Development Act, 2006. Since the information from the
suppliers has not been received, the provisionising of the interest and
disclosure requirement under Schedule VI to the Companies Act, 1956
could not be complied with.
- The Companies operations predominantly relate to providing IT
Services in two primary business segments viz. IT Services and IT
Enabled Services. The Company considers the business segment as the
Primary Segment and Geographical Segment based on the location of the
customers as the Secondary Segment.
The accounting principles consistently used in the preparation of the
financial statements are also consistently applied to record income and
expenditure in individual segments. Income and direct expenses in
relation to segments are categorized based on items that are
individually identifiable to that segment, while the remainders of
costs are apportioned on an appropriate basis. Certain expenses are not
specifically allocable to individual segments as underlying services
are used interchangeably. The Company therefore believes that it is not
practical to provide segment disclosures relating to such expenses and
accordingly such expenses are separately disclosed as un allocable and
directly charged against total income.
The assets of the Company are used interchangeably between segments,
and the management believes that it is currently not practical to
provide segment disclosures relating to total assets and liabilities
since a meaningful segregation is not possible.
- Previous year''s figures have been regrouped wherever necessary. The
previous year figures are after considering the effect of the scheme of
arrangement.
- The figures have been rounded off to the nearest rupee.
Jun 30, 2011
1. Particulars of employees in accordance with Sub-section (2A) of
Section 217 of the Companies Act, 1956 read with Companies (Particulars
of Employees) Rule 1975. NIL
2. M/s. CES Private Limited (Formerly known as Computes Enterprise
Solutions Private Limited) was incorporated in the year 2001. The
Company is a leading IT services and software development firm
providing the highest quality IT services and solutions at low cost to
broad array of public and private sector clients around the world. CES
including its investments by way of shares in other bodies corporate
other than the customised software development business were proposed
to be transferred to and vested in SERVE ALL ENTERPRISE SOLUTIONS
LIMITED on a going concern basis with effect from 1st July, 2010
SERVE ALL ENTERPRISE SOLUTIONS LIMITED has received the in principle
approval for the scheme of arrangement, from Bombay Stock Exchange on
20th May 2011.
In terms of the Scheme of Arrangement between M/s. CES Private Limited
and M/s. Serve All Enterprise Solutions Limited and their Respective
Share Holders, the Company submitted COMPANY PETITION NO. 215 OF 2011
CONNECTED WITH COMPANY APPLICATION NO. 1524 OF 2011 as per the
Companies Act, 1956 (1 of 1956) Under Sections 391 and 394 before the
Hon'ble High Court at Andhra Pradesh.
The Scheme was approved by the shareholders of the Company (Serve All
Enterprise Solutions Limited) in the Extra Ordinary General Meeting
held on 5th November, 2011 which was convened by Hon'ble High Court of
Andhra Pradesh.
In this connection the Company applied for extension of Annual General
Meeting which was approved by Registrar of Companies, Andhra Pradesh
till 31st March 2012 vide their letter date 7th December 2011. Due to
pending approval of the Hon'ble High Court of Andhra Pradesh, the Board
of Directors decided to proceed as per the records.
Pending approval of the Hon'ble High Court of Andhra Pradesh, the
effect of transfer of certain investments, loans, advances and assets
has not been given effect in the books of account of Serve All
Enterprises Solutions Limited.
3. The Company is engaged in the Software Development, IT Services and
IT Enabled Services. The production and sale of such software and
services cannot be expressed in any generic unit. .Hence, it is not
possible to give the quantitative details of sales and the information
as required under Paragraphs 3 and 4C of Part II of Schedule VI to the
Companies Act, 1956.
4. The balances receivable from debtors and payable to creditors at
the year end are subject to confirmation from the respective debtors
and creditors.
5. Related Party Transactions
During the financial year 2010 -11 the Company has entered into some
transactions, which can be deemed as related party transactions. All
these matters have been approved by the Board and the Govt, of India,
wherever necessary.
6. Realised gains & loss in foreign exchange transactions are
recognised in Profit & Loss Account. During the year realized Gain on
foreign exchange fluctuation is Rs.760,365/-
7. The Company has circulated letters to its suppliers seeking
information about their status as mentioned in the Micro Small and
Medium Enterprise Development Act, 2006. Since the information from the
suppliers has not been received, the provision sing of the interest and
disclosure requirement under Schedule VI to the Companies Act, 1956
could not be complied with.
8. The Company has debited the gratuity amount of Rs. 1,802,240/-
(Previous Year 2,545,519/- )to the Profit and Loss Account as per AS -
15 on actuarial basis.
9. The Companies operations predominantly relate to providing IT
Services in two primary business segments viz. IT Services and IT
Enabled Services. The Company considers the business segment as the
Primary Segment and Geographical Segment based on the location of the
customers as the Secondary Segment.
The accounting principles consistently used in the preparation of the
financial statements are also consistently applied to record income and
expenditure in individual segments. Income and direct expenses in
relation to segments are categorized based on items that are
individually identifiable to that segment, while the remainders of
costs are apportioned on an appropriate basis. Certain expenses are not
specifically allocable to individual segments as underlying services
are used interchangeably. The Company therefore believes that it is not
practical to provide segment disclosures relating to such expenses and
accordingly such expenses are separately disclosed as unallocable and
directly charged against total income.
The assets of the Company are used interchangeably between segments,
and the management believes that it is currently not practical to
provide segment disclosures relating to total assets and liabilities
since a meaningful segregation is not possible.
BUSINESS SEGMENTS:
Profit and Loss Statements for the year ended 30th June,11 IT Services
IT Enabled Services Total
total paired income tax during the year. The deferred income tax
provision for the current year amounts to Rs. 694,101/- towards
deferred income tax liability. (Previous year Rs 293,085/-)
10. Previous years figures have been regrouped wherever necessary.
11. The figures have been rounded off to the nearest rupee.
Jun 30, 2009
1 Particulars of Employees in accordance with Sub-section (2A) of
Section 217 of the Companies Act, 1956 read with Companies (Particulars
of Employees) Rule 1975. ML
2. The Company is engaged in the development of Computer Software, IT
Services and IT enabled services. The production and sale of such
software and services cannot be expressed in any generic unit. Hence,
it is not possible to give the quantitative details of sales and the
information as required under Paragraphs 3 and 4C of Part II of
Schedule VI to the Companies Act, 1956.
3. There are no dues to SSI units outstanding for more than 30days.
4. No confirmations were obtained from debtors/ creditors as to the
balance receivable from/ payable to them as at year end.
5. Related Party Transactions
During the financial year 2008 -09, the Company has entered into some
transactions, which can be deemed as related party transactions.
S. No. Name of the Related Party Nature of Relation
1 CESUSA Inc. Common Directors
2 Computech Corporation Common Directors
3 CES Private Limited Common Directors
6. "Realized gains & loss in foreign exchange transactions are
recognized in Profit & Loss Account. During the year realized loss on
foreign exchange fluctuation is Rs.25,67,607/-
7. The Company has circulated letters to its suppliers seeking
information about their status as mentioned in the Micro Small and
Medium Enterprise development Act 2006. Since the information from the
suppliers has not been received, the provisioning of the interest and
disclosure requirements under Schedule VI to the Companies Act, 1956
could not be complied with.
8. The Company has debited the gratuity amount of Rs.6, 55,311/- to
Profit and Loss Account as per AS-15 on actuarial basis.
9. The Companys operations predominantly relate to providing IT
services in two primary business segments viz. IT Services and IT
Enabled Services. The Company considers the business segment as the
primary segment and geographical segment based on the location of
customers as the secondary segment.
The accounting principles consistently used in the preparation of the
financial statements are also consistently applied to record income and
expenditure in individual segments. Income and direct expenses in
relation to segments are categorized based on items that are
individually identifiable to that segment, while the remainders of
costs are apportioned on an appropriate basis. Certain expenses are not
specifically allocable to individual segments as the underlying
services are used interchangeably. The Company therefore believes that
it is not practical to provide segment disclosures relating to such
expenses and accordingly such expenses are separately disclosed as
unallocable and directly charged against total income.
The assets of the Company are used interchangeably between segments,
and_ the management believes that it is currently not practical to
provide segment disclosures relating to total assets and liabilities
since a meaningful segregation is not possible.
10. In accordance with Accounting Standard 22 (AS 22) issued by the
ICAI, the Company has accounted for deferred income tax during the
year. The deferred income tax provision for the current year amounts to
Rs. 1, 88,366/- towards deferred income tax liability. (Previous year
Rs : 18, 343/- towards deferred income tax Asset.)
11. Previous years figures have been regrouped wherever necessary.
12. The figures have been rounded off to the nearest rupee.