Mar 31, 2023
Provisions, contingent liabilities and contingent asset Provisions
Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of
a past event and it is probable that an outflow of resources embodying economic benefits will be required to
settle the obligation and a reliable estimate can be made of the amount of the obligation.
Provisions are discounted, if the effect of the time value of money is material, using pre-tax rates that
reflects the risks specific to the liability. When discounting is used, an increase in the provisions due to the
passage of time is recognised as finance cost. These provisions are reviewed at each Balance Sheet date
and adjusted to reflect the current best estimates.
Necessary provision for doubtful debts, claims, etc., are made if realisation of money is doubtful in the
judgement of the management.
A contingent liability is a possible obligation that arises from past events whose existence will be confirmed
by the occurrence or non-occurrence of one or more uncertain future events beyond the control of the
company or a present obligation that is not recognized because it is not probable that an outflow of resources
will be required to settle the obligation. A contingent liability also arises in extremely rare cases where there
is a liability that cannot be recognized because it cannot be measured reliably. Contingent liabilities are
disclosed separately.
Show cause notices issued by various Government authorities are considered for evaluation of contingent
liabilities only when converted into demand.
Where an inflow of economic benefits is probable, the Company discloses a brief description of the nature
of the contingent assets at the end of the reporting period, and, where practicable, an estimate of their
financial effect. Contingent assets are disclosed but not recognised in the financial statements.
Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances
with original maturity of less than 3 months, highly liquid investments that are readily convertible into cash,
which are subject to insignificant risk of changes in value.
Cash flows are presented using indirect method, whereby profit / (loss) before tax is adjusted for the effects
of transactions of non-cash nature and any deferrals or accruals of past or future cash receipts or payments.
Bank borrowings are generally considered to be financing activities. However, where bank overdrafts which
are repayable on demand form an integral part of an entity''s cash management, bank overdrafts are included
as a component of cash and cash equivalents for the purpose of Cash flow statement.
"The basic earnings per share are computed by dividing the net profit for the period attributable to equity
shareholders by the weighted average number of equity shares outstanding during the period. Diluted EPS
is computed by dividing the net profit after tax by the weighted average number of equity shares considered
for deriving basic EPS and also weighted average number of equity shares that could have been issued
upon conversion of all dilutive potential equity shares. Dilutive potential equity shares are deemed converted
as of the beginning of the period, unless issued at a later date. Dilutive potential equity shares are determined
independently for each period presented. The number of equity shares and potentially dilutive equity shares
are adjusted for bonus shares, as appropriate"
Mar 31, 2015
1. BACKGROUND
Cranes Software International Limited (C SI L) was incorporated on 22nd
December, 1984. C SI L is a Company that provides enterprise
statistical analytics and engineering simulation software products and
solutions across the globe. Presently, CSIL has developed IP's and
products in data Integration & visualization, engineering simulations,
graphing, plotting and designing modules. The Company is head quartered
in Bangalore and has offices in India, United States of America, United
Kingdom, Germany and Singapore.
2.1 In the opinion of Board of Directors, all assets, investments have
atleast the value as stated in the Balance Sheet, if realised in the
ordinary course of business
2.2 Provision for Bad debts recognised in the statement of profit and
loss includes as amount of Rs. Nil (Previous year Rs. 15.62 Crores)
written off by a subsidiary.
2.3 IMPAIRMENT OF ASSETS
Pursuant to Accounting Standard AS 28 : Impairment of Assets issued by
the Companies Accounting Standard Rules, 2006, the company assessed its
fixed assets for impairment as at 31st March 2015 and concluded that
there has been no significant impaired fixed asset that needs to be
recognized in the books of account.
2.4 DERIVATIVE INSTRUMENTS AND UNHEDGED FOREIGN CURRENCY INSTRUMENTS
Foreign currency exposure that are not hedged by derivative or forward
contracts as on 31st March 2015 amounts to Rs.6,459,348,885/- (
Previous Year : Rs. 7,29,21,81,042/- )
2.5 Confirmation of balances in respect of Trade Receivables and Trade
Payables has not been obtained in a few cases.
2.6 FOREIGN CURRENCY CONVERTIBLE BONDS
The Foreign Currency Convertible Bonds carry coupon rate of 2.50%,
payable half yearly. In case of default of payment of interest the
coupon rate stands increased to 4.80%.
During March 2011, the convertible foreign currency bonds had become
due for conversion to Equity Shares and none of the bond holders have
exercised their option for conversion. Correspondingly, the amounts had
become due for payment as on the closure of such exercise and is yet to
be redeemed as on the date of the balance sheet.
2.7 OBLIGATIONS TO WARDS LONG TERM, NON-CANCELLABLE OPERATING LEASES
The Company has taken various offices, vehicles, computers, furniture
and equipment under cancellable operating leases. These lease
agreements are normally renewed on expiry.
The rental expenses in respect of operating leases recognized in the
statement of profit and loss are Rs. 4,22,544/- for the year ended
March 31, 2015. (Previous year Rs. 12,27,850/-)
Lease rentals due for the period not exceeding period of 1 year Rs.
1,06,908/-
Lease rentals due for the period 1 to 5 years Nil
Lease rentals due for the period exceeding 5 years Nil
2.8 RESEARCH & DEVELOPMENT
Research & Development expenditure recognized as expenses during the
year amounted to Rs. NIL (Previous year Rs. NIL)
2.9 SEGMENT REPORTING
The Company has identified geographic segments as its primary segment
and business segments as its secondary segments.
Primary Segments- a) Exports b) Domestic
Secondary Segments- a) Proprietary Products and Services b) Product
Alliances
2.10 A Sum of Rs. 98.73 Crore has been provided in the books of
accounts as provision for bad and doubtful debts for the financial year
2013-14. Application is made to the concerned statutory authority to
writeoff these debts and their approval awaited.
2.11 Previous year's figures have been regrouped and reclassified
wherever necessary to make them comparable.
Mar 31, 2014
1.1 CONTINGENT LIABILITIES AND COMMITMENTS
(to the extent not provided for) (Amount in Rupees)
PARTICULARS Current Year Previous Year
Claims against the Company not
acknowledged as debts
(a) Income tax matters 1,000,667,009 245,972,000
(b) Service tax matters 138,647,868 75,602,762
(c) Guarantees and counter guarantee 10,603,533 10,014,960
(d) Others 5,515,000 5,515,000
TOTAL 1,155,433,410 337,104,722
The above information is prepared based on the information available
with the Management.
1.2 In the opinion of Board of Directors, all assets, investments have
atleast the value as stated in the Balance Sheet, if realised in the
ordinary course of business
1.3 IMPAIRMENT OF ASSETS
Pursuant to Accounting Standard AS 28 : Impairment of Assets issued by
the Companies Accounting Standard Rules, 2006, the company assessed its
fixed assets for impairment as at 31st March 2014 and concluded that
there has been no significant impaired fixed asset that needs to be
recognized in the books of account.
1.4 Provision for bad debts recognised in the statement of profit and
loss includes an amount of Rs. 15.62 crores written off by a
subsidiary.
1.5 DERIVATIVE INSTRUMENTS AND UNHEDGED FOREIGN CURRENCY INSTRUMENTS
Foreign currency exposure that are not hedged by derivative or forward
contracts as on 31 st March 2014 amounts to Rs.7,29,21,81,042/- (
Previous Year : Rs. 6,94,46,67,707/- )
1.6 Confirmation of balances in respect of Trade Receivables and Trade
Payables has not been obtained in a few cases.
1.7 FOREIGN CURRENCY CONVERTIBLE BONDS
The Foreign Currency Convertible Bonds carry coupon rate of 2.50%,
payable half yearly. In case of default of payment of interest the
coupon rate stands increased to 4.80%.
During March 2011, the convertible foreign currency bonds had become
due for conversion to Equity Shares and none of the bond holders have
exercised their option for conversion. Correspondingly, the amounts had
become due for payment as on the closure of such exercise and is yet to
be redeemed as on the date of the balance sheet.
1.8 OBLIGATIONS TOWARDS LONG TERM, NON-CANCELLABLE OPERATING LEASES
The Company has taken various offices, vehicles, computers, furniture
and equipment under cancellable operating leases. These lease
agreements are normally renewed on expiry.
The rental expenses in respect of operating leases recognized in the
statement of profit and loss are Rs. 12,27,850/- for the year ended
March 31,2014. (Previous year Rs. 64,26,888/-)
1.9 RESEARCH & DEVELOPMENT
Research & Development expenditure recognized as expenses during the
year amounted to Rs. NIL (Previous year Rs. NIL)
1.10 SEGMENT REPORTING
The Company has identified geographic segments as its primary segment
and business segments as its secondary segments.
Primary Segments- a) Exports b) Domestic
Secondary Segments- a) Proprietary Products and Services b) Product
Alliances
1.11 A Sum of Rs. 98.73 Crore has been provided in the books of
accounts as provision for bad and doubtful debts. Application is made
to the concerned statutory authority to writeoff these debts and their
approval awaited.
1.12 Previous year''s figures have been regrouped and reclassified
wherever necessary to make them comparable.
Mar 31, 2013
1. BACKGROUND
Cranes Software International Limited (CSIL) was incorporated on 22nd
December, 1984. CSIL is a Company that provides Enterprise Statistical
Analytics and Engineering Simulation Software Products and Solutions
across the globe. Presently, CSIL has developed IP''s and
products in data Integration & visualization, engineering simulations,
Graphing, plotting and designing modules. The Company is head quartered
in Bangalore and has offices in India, United States of America, United
Kingdom, Germany, UAE and Singapore.
2.1 In the opinion of Board of Directors, all assets , investments
have atleast the value as stated in the Balance Sheet, if realised in
the ordinary course of business
2.2 IMPAIRMENT OF ASSETS
Pursuant to Accounting Standard AS 28 : Impairment of Assets issued by
the Companies Accounting Standard Rules, 2006, the company assessed its
fixed assets for impairment as at 31st March 2013 and concluded that
there has been no significant impaired fixed asset that needs to be
recognized in the books of account.
2.3 DERIVATIVE INTRUMENTS AND UNHEDGED FOREIGN CURRENCY INSTRUMENTS
Foreign currency exposure that are not hedged by derivative or forward
contracts as on 31st March 2013 amounts to Rs. 6,94,46,67,707/- (
Previous Year : Rs. 9,11,44,75,587/- )
2.4 Confirmation of balances in respect of Trade Receivables and Trade
Payables has not been obtained in a few cases.
2.5 FOREIGN CURRENCY CONVERTIBLE BONDS
The Foreign Currency Convertible Bonds carry coupon rate 2.50%, payable
half yearly. In case of default of payment of interest the coupon rate
stands increased to 4.80%.
During March 2011, the convertible foreign currency bonds had become
due for conversion to Equity Shares and none of the bond holders have
exercised their option for conversion. Correspondingly, the amounts had
become due for payment as on the closure of such exercise and is yet to
be redeemed as on the date of the balance sheet.
2.6 OBLIGATIONS TOWARDS LONG TERM, NON-CANCELLABLE OPERATING LEASES
The Company has taken various offices, vehicles, computers, furniture
and equipment under cancellable operating leases. These lease
agreements are normally renewed on expiry.
The rental expenses in respect of operating leases recognized in the
statement of profit and loss are Rs. 64,26,888/- for the year ended
March 31, 2013. (Previous year Rs. 1,02,42,684/-)
2.7 RESEARCH & DEVELOPMENT
Research & development expenditure recognized as expenses during the
year amounted to Rs. Nil. (Previous year Rs. Nil)
2.8 SEGMENT REPORTING
The Company has identified geographic segments as its primary segment
and business segments as its secondary segments.
Primary Segments- a) Exports
b) Domestic
Secondary Segments- a) Proprietary Products and Services b) Product
Alliances
2.9 PAYMENT OF DIVIDEND DECLARED IN MEMBERS'' MEETING HELD ON 29TH
SEPTEMBER, 2009
At the meeting of the Members of the Company held on 29th September,
2009, it was resolved that Dividend on Ordinary Shares at the rate of
Rs 0.20 per share will be distributed to Members in the rolls as on the
Record Date, 23rd September, 2009. Owing to the liquidity position of
the Company, it has not been possible to make this payment. Liability
of this amount continues to exist as on 31st March, 2013.
2.10 A Sum of Rs. 148 Crore has been provided in the books of accounts
as provision for bad and doubtful debts. Application is made to the
concern statutory authority to write off these debts and their approval
awaited.
2.11 Previous year''s figures have been regrouped and reclassified
wherever necessary to make them comparable.
Mar 31, 2012
1. BACKGROUND
Cranes Software International Limited (CSIL) was incorporated on 22nd
December, 1984. CSIL is a Company that provides Enterprise Statistical
Analytics and Engineering Simulation Software Products and Solutions
across the globe. Presently, CSIL has developed IP's and products in
data Integration & visualization, engineering simulations, Graphing,
plotting and designing modules. The Company is head quartered in
Bangalore and has offices in India, United States of America, United
Kingdom, Germany, UAE and Singapore.
2.1 CONTINGENT LIABILITIES AND COMMITMENTS
(to the extent not provided for) (Amount in Rupees)
PARTICULARS Current Year Previous Year
Claims against the Company not
acknowledged as debts
(a) Income tax matters 123,579,740 440,670,000
(b) Service Tax matters 75,798,122 -
(c) Guarantees and Counter Guarantee 10,126,529 3,377,366
(d) Others 5,515,000 -
TOTAL 215,019,391 444,047,366
2.2 In the opinion of Board of Directors, all assets , investments
have atleast the value as stated in the Balance Sheet, if realised in
the ordinary course of business
2.3 IMPAIRMENT OF ASSETS
Pursuant to Accounting Standard AS 28 : Impairment of Assets issued by
the Companies Accounting Standard Rules, 2006, the company assessed its
fixed assets for impairment as at 31st March 2012 and concluded that
there has been no significant impaired fixed asset that needs to be
recognized in the books of account.
2.4 DERIVATIVE INTRUMENTS AND UNHEDGED FOREIGN CURRENCY INSTRUMENTS
Foreign currency exposure that are not hedged by derivative or forward
contracts as on 31st March 2012 amounts to Rs.9,11,44,75,587/- (
Previous Year : Rs. 8,72,20,44,578/- )
2.5 Confirmation of balances in respect of Trade Receivables and Trade
Payables has not been obtained in a few cases.
2.6 FOREIGN CURRENCY CONVERTIBLE BONDS
The Foreign Currency Convertible Bonds carry coupon rate 2.50%, payable
half yearly. In case of default of payment of interest the coupon rate
stands increased to 4.50%.
During March 2011, the convertible foreign currency bonds had become
due for conversion to Equity Shares and none of the bond holders have
exercised their option for conversion. Correspondingly, the amounts had
become due for payment as on the closure of such exercise and is yet to
be redeemed as on the date of the balance sheet.
2.7 OBLIGATIONS TOWARDS LONG TERM, NON-CANCELLABLE OPERATING LEASES
The Company has taken various offices, vehicles, computers, furniture
and equipment under cancellable operating leases. These lease
agreements are normally renewed on expiry.
The rental expenses in respect of operating leases recognized in the
statement of profit and loss are Rs. 1,02,42,684/- for the year ended
March 31, 2012. (Previous year Rs. 93,20,000/-)
2.8 RESEARCH & DEVELOPMENT
Research & development expenditure recognized as expenses during the
year amounted to Rs. Nil. (Previous year Rs. Nil)
2.9 PAYMENT OF DIVIDEND DECLARED IN MEMBERS' MEETING HELD ON 29TH
SEPTEMBER, 2009
At the meeting of the Members of the Company held on 29th September,
2009, it was resolved that Dividend on Ordinary Shares at the rate of
Rs 0.20 per share will be distributed to Members in the rolls as on the
Record Date, 23rd September, 2009. Owing to the liquidity position of
the Company, it has not been possible to make this payment. Liability
of this amount continues to exist as on 31st March, 2012.
2.10 Previous year's figures have been regrouped and reclassified
wherever necessary.
Mar 31, 2011
21.1.1 Contingent liabilities not provided for and Capital commitments
-
(Rupees in Million)
Particulars Current Year Previous Year
a. Contingent liabilities not
provided for
Outstanding guarantees and
counter guarantees 3.38 105.73
b. Claims against the Company
not acknowledged as
debts on Tax matters in
dispute under appeal 440.67 447.66
21.1.2. Security for borrowings
i) Working Capital and Term Loans: Bank finances are secured by
hypothecation of stocks of software, book debts, document of title to
goods and collaterally secured by properties; personally guaranteed by
Whole time Directors and also have additional collateral security by
way of pledge of promoters share for part amount.
ii) Vehicle Loans: Finance for purchase of vehicles are secured by
hypothecation of respective vehicles.
iii) There are other borrowings, some of which are personally
guaranteed by whole time Directors.
21.1.3. Debtors and Creditors; Loans and Advances
Periodically, the Company evaluates all Debtors and Creditors balances.
However, some of these are subject to confirmation. All Current Assets,
Loans and advances, have at least the value as stated in the Balance
Sheet if realized in the ordinary course of the Business.
21.1.4. Dues to Small-scale industrial undertakings
i. As at March 31, 2010 and March 31, 2011, the Company has no
outstanding dues exceeding Rs.1 Lakh for more than 30 days to Small
Scale Industrial undertaking as ascertained and certified by the
Management.
ii. There are no micro and small enterprises, to whom the Company owes
dues, for more than 45 days as at 31st March, 2011. This information as
required to be disclosed under the Micro, Small & Medium Enterprises
Development Act, 2006 has been determined to the extent such parties
have been identified on the basis of information available with the
company.
The Company is in the business of software development and trading
hence information on Licensed and installed capacity is not applicable.
21.1.5. Obligations towards long term, non-cancelable operating
leases
The Company has taken various offices, vehicles, computers, furniture
and equipment under cancel- lable operating leases. These lease
agreements are normally renewed on expiry.
The rental expenses in respect of operating leases recognized in the
profit and loss account are Rs.9.32 Million for the year ended March
31, 2011. (Previous year Rs.23.36 Million).
21.1.6.Research & Development
Research & Development expenditure recognized as expenses during the
year amounted to Rs.Nil. (Previous year Rs.NIL)
Note:
Names of related parties and description of relationship
Holding Company Nil
Subsidiaries:
1. Systat Software Inc., USA
2. Systat Software Asia Pacific Limited
3. Cranes Software International Pte. Ltd, Singapore
4. Systat Software GmbH, Germany
5. Cranes Software Inc (Earlier known as NISA Software Inc., USA)
6. Analytix Systems Private Ltd
7. Tilak Autotech Private Ltd
8. Caravel Info Systems Pvt. Ltd.,
9. Proland Software Pvt. Ltd.,
10. Esqube Communication Solutions Pvt. Ltd.,
Step Down Subsidiaries:
1. Dunn Solutions Group Inc.
2. Engineering Technology Associates Inc with its Subsidiary,
Engineering Technology Associates (Shanghai) Inc., China
3. Cubeware GmbH and its Subsidiaries in Austria and Switzerland
Key Management Personnel Mr.Asif Khader
Mr.Mukkaram Jan Mr.Mueed Khader
Relatives of Key Management Personnel Nil
Other Related Parties
Orca Infotech Private Limited
K&J Holdings Private Limited
K &J Telecom Private Limited
Jansons Land & Property Development Pvt Ltd
SPSS South Asia Private Limited
Keysoft Solutions Private Limited
Spice Capital Fund Private Limited
Sea Equity Private Limited
In respect of the above parties, there is no provision for doubtful
debts as at the financial year and no amount has been written
off/written back during the year in respect of debts due from/to them.
21.1.7. Segment Reporting
The Company has identified geographic segments as its primary segment
and Business segments as its secondary segment.
Primary Segments- a) Exports and b) Domestic
Secondary Segments- a) Proprietary Products and Services and b) Product
Alliances
21.1.8 Payment of Dividend declared in Members' meeting held on 29th
September, 2009
At the meeting of the Members of the Company held on 29th September,
2009, it was resolved that Dividend on Ordinary Shares at the rate of
Rs 0.20 per share will be distributed to Members in the rolls as on the
Record Date, 23rd September, 2009. Owing to the liquidity position of
the Company, it has not been possible to make this payment. Liability
of this amount continues to exist as on 31st March, 2011.
21.1.9. Previous year's figures have been regrouped and reclassified
wherever necessary.
Mar 31, 2010
21.1.1 Contingent liabilities not provided for and Capital commitments
-
(Rupees in Million)
Particulars Current Year Previous Year
a. Contingent liabilities
not provided for
I. Outstanding guarantees and
counter guarantees 105.73 2,449.91
II. Bill discounting - 535.71
b. Claims against the Company
not acknowledged as debts on Tax
matters in dispute under appeal 447.66 490.82
c. Estimated amount of contracts
remaining to be executed
on capital account not provided for. - 13.29
Counter Guarantee to the extent of Rs 2,344.43 mn given on behalf of a
party for their borrowings from a Scheduled Bank to meet requirements
of business that were in exploratory stage to be ultimately integrated
with the Company were encashed by the lender during the year.
Concomittant amount is regarded as Recoverable from the Party and
included under the Head Advances Recoverable in Cash or Kind or for
Value to be Received. Action to recover the sums from the Party have
been initiated.
21.1.6. Security for borrowings
i) Working Capital and Term Loans: Bank finances are secured by
hypothecation of stocks of software, book debts, document of title to
goods and collaterally secured by properties; personally guaranteed by
Whole time Directors and also have additional collateral security by
way of pledge of promoters share for part amount.
ii) Vehicle Loans: Finance for purchase of vehicles are secured by
hypothecation of respective vehicles.
iii) There are other borrowings, some of which are personally
guaranteed by whole time Directors.
21.1.7. Debtors and Creditors; Loans and Advances
Periodically, the Company evaluates all Debtors and Creditors balances.
However, some of these are subject to confirmation. All Current Assets,
Loans and advances, have at least the value as stated in the Balance
Sheet if realized in the ordinary course of the Business.
21.1.9. Dues to Small-scale industrial undertakings
i. As at March 31, 2009 and March 31, 2010, the Company has no
outstanding dues exceeding Rs. 1 Lakh for more than 30 days to Small
Scale Industrial undertaking as ascertained and certified by the
Management.
ii. There are no micro and small enterprises, to whom the Company owes
dues, for more than 45 days as at 31st march, 2010. This information as
required to be disclosed under the Micro Small & Medium Enterprises
Development Act, 2006 has been determined to the extent such parties
have been identified on the basis of information available with the
company.
21.1.17. Obligations towards long term, non-cancellable operating
leases
The Company has taken various offices, vehicles, computers, furniture
and equipment under cancel- lable operating leases. These lease
agreements are normally renewed on expiry.
The Company has also taken on non-cancellable operating leases certain
offices, the future minimum lease payments in respect of which, as at
the close of the year are as follows -
These lease agreements provide for an option to the Company to renew
the lease period at the end of the non-cancellable period.
The rental expenses in respect of operating leases recognized in the
profit and loss account are Rs.23.36 Million for the year ended March
31, 2010. (Previous year Rs.90.47 Million)
21.1.18Foreign currency convertible Bonds
The Company issued and allotted on March 17, 2006 Foreign Currency
Convertible Bonds (Considered as non-Monetary liability) for Euro 42
Million (Equivalent for Rs. 2,270.10 Million) bearing an interest at
2.5% per annum payable half yearly. The bonds are convertible at any
time on and after April 27, 2006 and till close of business on March
11, 2011 and were convertible into shares or GDRs at an initial
conversion price of Rs. 143.293 per share with a fixed rate of exchange
on conversion of Euro 1.00 = Rs. 52.6828. The outstanding bonds are
redeemable at a premium of 12.833% on 18th March 2011. Further, based
on the relevant clause of the issue document, conversion price has now
been refixed at Rs.115. During the year ended 31 March 2009 there has
been no conversion of the Bonds into Shares. If the outstanding bonds
as on March 31, 2009 are converted into equity shares or GDRs, then the
share capital of the Company will increase by 19,240,675 shares.
Proportionate Premium payable on redemption of FCCB Rs. 60 Million
(Previous Year Rs.60 Million) has been transferred to FCCB Redemption
Reserve during the year out of share premium account. In the event that
the conversion option is exercised by the holders of FCCB in the
future, the amount of premium charged to the share premium account will
be suitably adjusted in the respective years.
Owing to liquidity related challenges, it was not possible to make
payment of interest on these FCCBs due in September, 2009 and March,
2010, amounting to a total of Rs. 50 mn. Provision for these amounts
are made in the Balance Sheet as on 31st March, 2010.
21.1.19.Research & Development
Research & Development expenditure recognized as expenses during the
year amounted to Rs. Nil. (Previous year Rs.3.71 Million)
Names of related parties and description of relationship
Holding Company Nil
Subsidiaries:
1. Systat Software Inc., USA
2. Systat Software Asia Pacific Limited
3. Cranes Software International Pte. Ltd, Singapore
4. Systat Software GmbH, Germany
5. Cranes Software Inc (Earlier known as NISA Software Inc., USA)
6. Analytix Systems Private Ltd
7. Tilak Autotech Private Ltd
8. Caravel Info Systems Pvt. Ltd.,
9. Proland Software Pvt. Ltd.,
10. Esqube Communication Solutions Pvt. Ltd.,
Step Down Subsidiaries:
1. Cranes Software UK Ltd.( Earleir known as Systat Software UK Ltd )
2. Dunn Solutions Group Inc.
3. Engineering Technology Associates Inc with its Subsidiary,
Engineering Technology Associates (Shanghai) Inc., China
4. Cubeware GmbH and its Subsidiaries in Austria and Switzerland
Key Management Personnel
Mr.Asif Khader Mr.Mukkaram Jan Mr.Mueed Khader
Relatives of Key Management
Nil
Other Related Parties
Orca Infotech Private Limited K&J Holdings Private Limited K &J Telecom
Private Limited
Jansons Land & Property Development Pvt Ltd SPSS South Asia Private
Limited Keysoft Solutions Private Limited Spice Capital Fund Private
Limited Sea Equity Private Limited
In respect of the above parties, there is no provision for doubtful
debts as at the financial year and no amount has been written
off/written back during the year in respect of debts due from/to them.
21.1.21. Segment Reporting
The Company has identified geographic segments as its primary segment
and Business segments as its secondary segment.
Primary Segments- a) Exports and b) Domestic
Secondary Segments- a) Proprietary Products and Services and b) Product
Alliances
21.1. 22 Payment of Dividend declared in Members meeting held on 29th
September, 2009
At the meeting of the Members of the Company held on 29th September,
2009, it was resolved that Dividend on Ordinary Shares at the rate of
Rs 0.20 per share will be distributed to Members in the rolls as on the
Record Date, 23rd September, 2009. Owing to the liquidity position of
the Company, it has not been possible to make this payment. Liability
of this amount continues to exist as on 31st March, 2010.
21.1.23. Previous years figures have been regrouped and reclassified
wherever necessary
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