Mar 31, 2015
1 Contingent Liabilities
No provision is made for liabilities that are contingent in nature and
are not recognized in the financial statements but if material, the
same are disclosed by way of notes to accounts.
2 In accordance with Accounting Standards-22 "Taxes on Income" issued
by The Institute of Chartered Accountants of India, the Holding company
has not recognized any Deferred Tax Assets, which results from the
timing differences between the Book Profits and Tax Profits as there is
no reasonable level of certainty supported by convincing evidence of
past records and that sufficient future taxable income will be
available against such deferred tax assets
3 Segment Reporting:
The Company operates in a single business segment - Travel related
business. Hence, no segment wise figures are mentioned.
4 In the absence of balance confirmations, balances in Sundry Creditors
and Other current Liabilities are as per Books of Accounts only.
5 On the basis of information available with the Company, regarding the
status of the suppliers as defined under the "Micro, Small and Medium
Enterprises Development Act 2006", there were no dues to supplier as at
31 March 2015. Further there were no overdue during the period and
therefore the question of provision of interest and related disclosures
under the said Act does not arise
6 Disclosure pursuant to Accounting Standard - 15 (Revised) "Employee
Benefits": As there are no employees in the holding company there are
no benefits are provided.
7 Company has accepted Loans from Directors and the same are shown as
Non-Current Liabilities.
8 Related party disclosure: Related Party Disclosures as required by
Accounting Standard [AS]-18 "Related Party Disclosures" issued by the
Institute of Chartered Accountants of India are :-
(a) List of the Related Parties And Relationships (as identified by the
company )
Party Relation
A Enterprises Under the Common Control
1 Websource Technologies Ltd Common Director
2 roomsXML Solutions Limited Common Director
3 roomsXML DMCC, Dubai Common Director
B Key Management Personnel
1 Prakash Bang Director
2 Ruchir Bang Director
C Individuals (Shareholders)
1 Prakash Bang Sharehoder
2 Ruchir Bang Sharehoder
3 Vrunda Bang Sharehoder
4 Nupur Bang Sharehoder
5 Anuj Bang Sharehoder
6 Websource Technologies Ltd Sharehoder
7 Lahoti Overseas Limited Sharehoder
9 Previous year's figures have been regrouped wherever necessary.
Mar 31, 2013
1 Contingent Liabilities
No provision is made for liabilities that are contingent in nature and
are not recognized in the financial statements but if material, the
same are disclosed by way of notes to accounts.
2 In accordance with Accounting Standards-22 "Taxes on Income" issued
by The Institute of Chartered Accountants of India, the Holding company
has not recognized any Deferred Tax Assets, which results from the
timing differences between the Book Profits and Tax Profits as there is
no reasonable level of certainty supported by convincing evidence of
past records and that sufficient future taxable income will be
available against such deferred tax assets
3 Segment Reporting:
The Company operates in a single business segment - Travel related
business. Hence, no segment wise figures are mentioned-
4 In the absence of balance confirmations, balances in Sundry Creditors
and Other current Liabilities are as per Books of Accounts only.
5 On the basis of information available with the Company, regarding the
status of the suppliers as defined under the "Micro, Small and Medium
Enterprises Development Act 2006", there were no dues to supplier as at
31 March 2013. Further there were no overdue during the period and
therefore the question of provision of interest and related disclosures
under the said Act does not arise
6 Disclosure pursuant to Accounting Standard - 15 (Revised) "Employee
Benefits": As there are no employees in the holding company there are
no benefits are provided.
7 Related party disclosure:
(a) Wholly Owned Subsidiary Company
As on march 31, the company is not having any subsidiary.
(b) Entities where Key Management Personnel have significant influence
Websource Technologies Limited
Indrayani Tissue Culture Pvt. Ltd. RoomsXML Solutions Limited
(c) Transactions between the company and related parties and the status
of outstanding balances as at March 31, 2013. Reimbursment of expenses
made by Websource Technologies Limited on behalf of the Indrayani
Biotech Limited. Outstanding as at March 31, 2013 is Rs.NIL (Previous
year Rs.12,90,442/-).
Indrayani Tissue Culture Pvt. Ltd: closing balance of Rs.1,621/-
(Previous Year Rs.1,621/-) includes transfer of bank balance and amount
received on behalf of Indrayani Tissue Culture Pvt. Ltd.
8 Disclosure as required by clause 32 of fisting agreement with stock
exchanges:
Websource Technologies Limited outstanding Rs.NIL, maximum amount
outstanding daring the year Rs.12,90,442/-.
Mar 31, 2012
1 Contingent Liabilities
No provision is made for liabilities that are contingent in nature and
are not recognized in the financial statements but if material, the
same are disclosed by way of notes to accounts.
2 In accordance with Accounting Standards-22 "Taxes on Income" issued
by The Institute of Chartered Accountants of India, the Holding company
has not recognized any Deferred Tax Assets, which results from the
timing differences between the Book Profits and Tax Profits as there is
no reasonable level of certainty supported by convincing evidence of
past records and that sufficient future taxable income will be
available against such deferred tax assets
3 Segment Reporting:
The Company operates in a single business segment - Travel related
business. Hence, no segment wise figures are mentioned.
4 In absence of balance confirmations, balances in Sundry Creditors and
Other current Liabilities are as per Books of Accounts only.
5 On the basis of information available with the Company, regarding the
status of the suppliers as defined under the "Micro, Small and Medium
Enterprises Development Act 2006Ã, there were no dues to supplier as
at 31 March 2012. Further there were no overdue during the period and
therefore the question of provision of interest and related disclosures
under the said Act does not arise
6 Disclosure pursuant to Accounting Standard -15 (Revised) "Employee
Benefits": As there are no employees in the holding company there are
no benefits are provided.
7 Related party disclosure:
(a) Wholly Owned Subsidiary Company RoomsXML Solutions Limited
(b) Entities where Key Management Personnel have significant influence
Websource Technologies Limited
Indrayani Tissue Culture Pvt. Ltd.
(c) Transactions between the company and related parties and the status
of outstanding balances as at March 31, 2012. Reimbursement of expenses
made by Web source Technologies Limited on behalf of the Indrayani
Biotech Limited. Outstanding as at March 31, 2012 is Rs. 12,90,442/-
(Previous year Rs.503,879/-).
Indrayani Tissue Culture Pvt. Ltd. closing balance of Rs.1,621/-
(Previous Year Rs.1,501/-) includes transfer of bank balance and amount
received on behalf of Indrayani Tissue Culture Pvt. Ltd. .
8 Disclosure as required by clause 32 of listing agreement with stock
exchanges:
Web source Technologies Limited outstanding Rs. 12,90,442/-, maximum
amount outstanding during the year Rs. 12,90,442/-.
9 AS 21 - Consolidated Financial Statements: The Company is having one
Wholly Owned Subsidiary Company viz. Rooms XML Solutions Ltd., which is
Material Non-Listed Indian Subsidiary Company. According to Accounting
Standard 21 - Consolidated Financial Statements, the Audited
Consolidated Financial Statements of the Company and its Subsidiary
Company, have been included in the Annual Report.
Mar 31, 2010
1. Details of Related party transactions in accordance with the
Accounting Standard AS18 Related party disclosures:
There were no transactions with related parties during the year.
2. As per AS 22 Deferred Tax Assets are recognized if there is
reasonable certaintyof future profits. Inviewofthisdeferredtax assets
are not recognized.
3. Segment Reporting:
The company had a policy of disclosing Tissue Culture and Green
HouseGrowing as Business Segments. Segments are identified taking into
account the nature of the products, the differing risks and returns,
the organizational structure and internal reporting system. During the
period the companys operations related to Tissue-culture activity
only. The company caters mainly to the need of domestic market. There
was no export turnover. As such, there are no reportable geographical
segments. Since company operates only in one Reportable Segment;
information about Segment & Inter Segment transactions is not given.
4) Contingent liabilities not provided in respect of:
Bank Guarantee on behalf of company for
Sales Tax : Rs.5,000 (Previous yr Rs. 5,000)
EPCG : Rs. 10,00,000(PY Rs.10,00,000)
5) CIF Value of Imports: There were no imports made by the Company.
6) Earning & Expenditure in foreign Currency (CIF) : There was no
sales / expenditure in foreign currency.
7) The Company has continued the activity of Tissue Culture - High
Tech agriculture.
8) A)The carrying amounts of assets are reviewed at each balance sheet
date to determine whether there is any indication of impairment.
However no impairment loss is recognized since the carrying amount of
assets does not exceed its recoverable amount.
9) No Provision for tax is made as appeals are pending under the
Income Tax Act 1961.
10) Previous years figures have been recast and regrouped wherever
necessary.
11) Information required as per Schedule VI of the CompaniesAct 1956
has been given only to the extent applicable.
12) The Company has not received intimation from any enterprise
regarding its status under Micro Small and Medium Enterprise
Development Act, 2006 and therefore no such disclosure under the said
Act is considered necessary.