Mar 31, 2015
1. 5,00,000 (5,00,000) shares out of the subscribed and fully paid up
share capital were alloted in the last five years to the shareholders
of Cyber Media India Online Limited in scheme of amalgamation
2. NIL (5,00,000) shares of Rs. 10/- each fully paid, without payment
being received in cash, pending allotment to the shareholders of Cyber
Media India Online Limited
3. Secured term loans from banks to the extent of :
a) Rs. 15,000,000/- (Rs. 20,000,000/- ) From State Bank of Mysore, are
secured by way of first charge on all the present and future, movable
(excluding those charged to hire purchasers) and immovable assets
including current assets of the company.
Also the loans are secured by personal guarantee of Mr. Pradeep Gupta.
b) Rs 2,18,777/- (Rs 353,044/-) from HDFC Bank Limited are secured
against specific vehicles
c) Rs. 100,000,000/- (Rs.100,000,000) From Kotak Mahindra Bank, are
secured by way of first charge on D-74, Panchsheel Enclave, New Delhi
(Residential property of Chairman & Managing Director)
Note:
Pursuant to case ROC vs Pradeep Gupta & Others:
As per Sub-Section 4(e) of Section 125 of the Companies Act, 1956, a
pledge is excluded from the application of the said section. The
vehicle loans taken by the Company during the period from 2006-07 to
2008-09 have already been repaid in full and thereafter no vehicle loan
was taken by the company. The non compliance of the provisions of
section 125 of the said Act has automatically been made good and the
company is in due compliance of the provisions of section 125 of the
said Act, from financial year 2009-10 onwards
* Outstanding vehicles loan amount transferred from Cyber Media India
Online Limited under the scheme of amalgamation duly approved by
hon'ble High Court of Delhi vide its order dated 18.02.2011
4. The Company has not received any intimation from Micro, small and
Medium enterprises under the 'Micro, Small and Medium Enterprises
development Act, 2006'. As per information available with the company,
no interest is paid or payable under the Act.
5. Trade Payables includes amount payable to vendors, consultants,
employees etc
6. Other loans and advances includes the advances recoverable in cash
or in kind or for value to be received, Rs. 56,09,359/ deposited with
sales tax authorities
7. Trade receivable includes amount due from Subsidiary/Associates on
account of expenses incurred on behalf.
Note:
Pursuant to case ROC vs Pradeep Gupta & Others:
The non compliances in respect of section 209(3)(b) of the Companies
Act, 1956, has already been made good by the Company. The company is in
proper compliance of the provision of said section.
8. Margin money includes Rs. 8,174,203/- (Rs. 7,862,484/-) as FDR
with State Bank of Mysore against bank gurantee of loan taken in
foreign and the same will be renewed every year till the loan is repaid
9. Margin money includes Rs. 5,000,000/- (Rs. NIL) as FDR with Kotak
Mahindra Bank against gurantee of loan taken from Kotak Mahindra Bank
and the same will be renewed every year till the loan is repaid
10. Total of bank guarantees outstanding as at year end amounting to
Rs. 340,500/- given to customs and postal department against which 100%
margin has been deposited with the bank. Total amount outstanding
against Buyers Credit as on 31-03-2013 is Rs. 49,45,012 (91282.50 USD)
11. In accordance with the revised Accounting Standard 15 notified
under the Companies (Accounting Standards) Rules, 2006 the requisite
disclosures are as follows:
a. Description of the type of plan(s)
i. Gratuity Plan
The Gratuity liability arises on retirement, resignation and death of
an employee. The aforesaid liability is calculated in accordance with
The Payment of Gratuity Act, 1972.
ii. Leave Encashment Plan
The earned leave liability arises on retirement, withdrawal,
resignation and death of an employee. The aforesaid liability is
calculated on the basis of yearly accrual of 30 days salary (i.e last
drawn salary) subject to maximum accumulation up to 90 days.
Names of related parties and description of relationship:
Subsidiaries
Cyber Media Research & Services Limited
Cyber Media Services Limited
Cyber Media Singapore Pte Limited Cyber
Media India LLC Cyber Astro Limited
Subsidiaries of subsidiary
TDA Group LLC
Global Services Media LLC
Associates
Cyber Media Foundation Limited
Any Time Media Pvt Ltd
Cyber Media Careers Limited
Key Management Personnel
Mr. Pradeep Gupta
Relative of key management personnel
Mrs. Sudha Bala Gupta
Mr. Dhaval Gupta
12. Segment Reporting
The Company is engaged in the Media Business which is identified as the
only and primary business segment of the company. Therefore no further
information is required to be disclosed. Further all the operating
facilities are located in India. The information required to be given
for secondary segment being geographical segment is as under:
13. Contingent Liabilities and commitments:
a) Guarantees given to State Bank of Mysore to secure facilities of:
i) As per Accounting Standard 29 on Provisions, Contingent Liabilities
and Contingent Assets following are the contingent liabilities:
Guarantees given to State Bank of Mysore to secure facilities of Rs.
17.50 million to Cyber Media Research Limited
ii) Stand -by letter of credit favouring Citi Bank, New York to secure
the term loan of USD 3.4 million [outstanding as on 31-03-2013 Rs.
111.09 million (Previous year Rs. 126.61 million) sanctioned to Cyber
Media India LLC towards the assets purchase of the TDA Group,
California.
14. In the opinion of the Management, there is no permanent diminition
in the value of investments.
15. Previous year figures have been regrouped/ reclassified, wherever
necessary, to confirm to current year's classification.
16, The Company has no other information required to be disclosed
pursuant to Schedule III to the Companies Act, 2013.
17. The Company has taken various offices under cancellable lease
agreement. There are no non-cancellable leases. Lease payment
recognized under cancellable lease for the year are Rs 19,84,338/-
(Previous Year Rs 53,90,381/-)
18. Company has not capitalized any borrowing cost during the year.
Mar 31, 2014
1.1 The Company has not received any intimation from Micro, small and
Medium enterprises under the ''Micro, Small and Medium Enterprises
development Act, 2006''. As per information available with the company,
no interest is paid or payable under the Act.
1.2 Trade Payables includes amount payable to vendors, consultants,
employees etc
2.1 Margin money includes Rs. 8,174,203/- (Rs. 7,862,484/-) as FDR
with State Bank of Mysore against bank gurantee of loan taken in
foreign and the same will be renewed every year till the loan is repaid
2.2 Margin money includes Rs. 5,000,000/- (Rs. NIL) as FDR with Kotak
Mahindra Bank against gurantee of loan taken from Kotak Mahindra Bank
and the same will be renewed every year till the loan is repaid
2.3 Total of bank guarantees outstanding as at year end amounting to
Rs. 340,500/- given to customs and postal department against which 100%
margin has been deposited with the bank. Total amount outstanding
against Buyers Credit as on 31-03-2013 is Rs. 49,45,012 (91282.50 USD)
2.4 In accordance with the revised Accounting Standard 15 notified
under the Companies (Accounting Standards) Rules, 2006 the requisite
disclosures are as follows:
a. Description of the type of plan(s)
i. Gratuity Plan
The Gratuity liability arises on retirement, resignation and death of
an employee. The aforesaid liability is calculated in accordance with
The Payment of Gratuity Act, 1972.
ii. Leave Encashment Plan
The earned leave liability arises on retirement, withdrawal,
resignation and death of an employee. The aforesaid liability is
calculated on the basis of yearly accrual of 15 days salary (i.e last
drawn salary) subject to maximum accumulation up to 90 days.
3 Contingent Liabilities and commitments:
a) Guarantees given to State Bank of Mysore to secure facilities of:
i) As per Accounting Standard 29 on Provisions, Contingent Liabilities
and Contingent Assets following are the contingent liabilities:
Guarantees given to State Bank of Mysore to secure facilities of Rs.
17.50 million to Cyber Media Research & Services Limited (Formerly
Known as Cyber Media Research Limited)
ii) Stand -by letter of credit favouring Citi Bank, New York to secure
the term loan of USD 3.4 million [outstanding as on 31-03- 2013 Rs.
111.09 million (Previous year Rs. 126.61 million) sanctioned to Cyber
Media India LLC towards the assets purchase of the TDA Group,
California.
4 In the opinion of the Management, there is no permanent diminition
in the value of investments.
5 Previous year figures have been regrouped/ reclassified, wherever
necessary, to confirm to current year''s classification.
6 The Company has no other information required to be disclosed
pursuant to Schedule VI to the Companies Act, 1956.
7 The Company has taken various offices under cancellable lease
agreement. There are no non-cancellable leases. Lease payment
recognized under cancellable lease for the year are Rs 53,90,381/-
(Previous Year Rs 73,58,871/-)
8 Company has not capitalized any borrowing cost during the year.
Mar 31, 2013
1.1 Margin money includes Rs. 8,174,203/- (Rs. 7,862,484/-) as FDR
with State Bank of Mysore against bank gurantee of loan taken in
foreign and the same will be renewed every year till the loan is
repaid.
1.2 Margin money includes Rs. 5,000,000/- (Rs. NIL) as FDR with Kotak
Mahindra Bank against gurantee of loan taken from Kotak Mahindra Bank
and the same will be renewed every year till the loan is repaid.
1.3 Total of bank guarantees outstanding as at year end amounting to
Rs. 340,500/- given to customs and postal department against which 100%
margin has been deposited with the bank. Total amount outstanding
against Buyers Credit as on 31-03-2013 is Rs. 49,45,012 (91282.50 USD).
2.1 Sale of service represents Media services and it also includes
services for subscription of magzine.
3.1 In accordance with the revised Accounting Standard 15 notified
under the Companies (Accounting Standards) Rules, 2006 the requisite
disclosures are as follows:
a. Description of the type of plan(s)
i. Gratuity Plan
The Gratuity liability arises on retirement, resignation and death of
an employee. The aforesaid liability is calculated in accordance with
The Payment Of Gratuity Act, 1972.
ii. Leave Encashment Plan
The earned leave liability arises on retirement, withdrawal,
resignation and death of an employee. The aforesaid liability is
calculated on the basis of yearly accrual of 30 days salary (i.e last
drawn salary) subject to maximum accumulation up to 90 days.
4 SEGMENT REPORTING
The Company is engaged in the Media Business which is identified as the
only and primary business segment of the company. Therefore no further
information is required to be disclosed. Further all the operating
facilities are located in India. The information required to be given
for secondary segment being geographical segment is as under:
5 CONTINGENT LIABILITIES AND COMMITMENTS:
a) Guarantees given to State Bank of Mysore to secure facilities of:
i) As per Accounting Standard 29 on Provisions, Contingent Liabilities
and Contingent Assets following are the contingent liabilities:
Guarantees given to State Bank of Mysore to secure facilities of Rs.
17.50 million to Cyber Media Research Limited.
ii) Stand -by letter of credit favouring Citi Bank, New York to secure
the term loan of USD 3.4 million [outstanding as on 31-03- 2013 Rs.
111.09 million (Previous year Rs. 126.61 million) sanctioned to Cyber
Media India LLC towards the assets purchase of the TDA Group,
California.
6 In the opinion of the Management, there is no permanent diminition
in the value of investments.
7 Previous year figures have been regrouped/ reclassified, wherever
necessary, to confirm to current year''s classification.
8 The Company has no other information required to be disclosed
pursuant to Schedule VI to the Companies Act, 1956.
9 "The Company has taken various offices under cancellable lease
agreement. There are no non-cancellable leases. Lease payment
recognized under cancellable lease for the year are Rs 73,58,871/-
(Previous Year Rs 83,33,986/-).
10 Company has not capitalized any borrowing cost during the year.
* Signature to the Significant Accounting Policies & Notes to Accounts
are forming the part of the financial statements.
Mar 31, 2010
1) Employee Benefits:
In accordance with AS 15 notified under the Companies (Accounting
Standards) Rules 2006, the requisite disclosures are as under:
a. Description of the type of plan(s):
i. Gratuity Plan:
The gratuity liability arises on retirement, withdrawl, resignation and
death of an employee. The aforesaid liability is calculated in
accordance with the Payment of Gratuity Act, 1972.
2) The Company has taken various offices and premises under cancellable
operating lease agreement .There are no nonÃcancellable leases. Lease
payment recognized under cancelable lease for the year are Rs.9,165,654
(Previous year Rs.8,673,316) are disclosed under the head rent in
Schedule 17.
3) Related Party Transactions:
Subsidiaries IDC (India) Limited
Cyber Media India Online Limited
Cyber Media Digital Limited
Cyber Media Events Limited
Cyber Holdings Limited
Cyber Media Services Limited
Cyber Media Singapore Pte Limited
Cyber Media India LLC
Subsidiaries of Subsidiary Publication Services Inc.
TDA Group LLC
Global Services Media LLC(Formerly
known as CMP Cyber
Media LLC)
Associates Cyber Astro Limited
Cyber Media Foundation Limited
Cyber Media Careers Limited
Key Management Personnel Mr. Pradeep Gupta
Mr. Shyam Malhotra
Mr. Krishan Kant Tulshan
Relative of Key Management
Personnel Mrs. Sudha Bala Gupta
Mrs. Dipika Tulshan
Mr. Dhaval Gupta
4) Segment Reporting:
The Company is engaged in the Media business which is identified as the
only and primary business segment of the company. Further all the
operating facilities located in India. The information required to be
given for secondary segment being geographical segment is as under:
5) Contingent Liabilities:
a. Guarantees given to State Bank of Mysore to secure facilities of:
i. As per Accounting Standard 29 on Provisions, Contingent Liabilities
and Contingent Assets following are the contingent liabilities:
Guarantees given to State Bank of Mysore to secure facilities of Rs
17.50 million to IDC (India) Limited, Rs. 10 million, to Cyber Media
Digital Limited and Rs. 10 million, to Cyber Media India Online Limited
(Formerly Cyber India Online Limited), subsidiaries of Cyber Media
(India) Limited.
ii. StandÃby letter of credit favouring Citi Bank, New York to secure
the term loan of USD 3.4 million [Rs. 139.40 million (Previous Year Rs.
177.38) million)] sanctioned to Cyber Media India LLC towards the
assets purchase of the TDA Group, California.The outstanding amount has
been increased due to conversion of closing balance into closing
foreign exchange rates.
b. Total of bank guarantees outstanding as at year end amounting to
Rs. 245,700/Ã given to customs and postal department against which 100%
margin has already been deposited with the bank. Total of letter of
Credit outstanding as at year end were amounting to Rs.3,655,330
against import of paper.
c. IncomeÃtax demand on regular assessment by the revenue authorities
disputed in appeal as under :
S. Nature of Dues Amount Period of
Which Forum where
dispute
No. amount relates is pending
1. Tax on Regular
Assessment 4,447,193 Financial Year Commissioner of
Income Tax
U/S 143(1) of
Income Tax Act,1961 ended 31.03.2006 (Appeals) IV ,
New Delhi
2. Tax on Regular
Assessment 530,095 Financial Year Commissioner of
Income Tax
U/S 143(3) of Income
Tax Act,1961 ended 31.03.2007 (Appeals) VI ,
New Delhi
6) Other Notes:
a. As on 31st March 2010 an amount of Rs. 17,880/Ã was lying in the
public issue refund account as refund warrants have not been presented
for clearance.
b. In the opinion of the Management, there is no permanent diminution
in the value of investments.
c. The Company has not received any intimation from Micro and Small
Enterprises under The Micro, Small and Medium Enterprises Act, 2006.
As per the information available with the Company, no interest is paid
or payable under the Act.
d. Detail of amount outstanding in unclaimed dividend accounts is as
under:
e. The Company has not capitalized any borrowing cost during the year.
f. The Company has filed a scheme of Arrangement and Merger under
section 391-394 of the Companies Act ,1956 in the Honble High Court at
New Delhi ,pursuant to which it is proposed to merge Cyber Media India
Online Limited, Cyber Media Digital Limited, Cyber Media Events Limited
and Cyber Holdings Limited with Cyber Media (India) Limited
w.e.f.appointed date 01.04.2009
g. Previous year figures have been regrouped/reclassified, wherever
necessary, to confirm to current years classification h. The Company
has no other information required to be disclosed pursuant to Schedule
VI to the Companies Act, 1956.
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