Mar 31, 2016
Note : Apart from above promoter Mr.Rahul Shah is beneficial owner of 13000 shares as informed by management ( c) Terms/rights attached to equity shares
The Company has only one class of equity shares having a par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share.
The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of directors is subject to the approval of the shareholders in ensuing Annual General Meeting. In event of liquidation of the Company, the holders of equity shares would be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The Distribution will be in proportion to the number of equity shares held by the shareholders.
1. Balances of Debtors, Loans and Advances, Secured &Unsecured Loans, Sundry Creditors & Others are subject to confirmation and reconciliation and consequential adjustments, if any.
2. In the opinion of the Board & to the best of their knowledge & belief the value of realization of current assets, loans & advances in the ordinary course of business would not be less than the amount at which they are stated in the Balance Sheet & the provisions for all the loans & determined liabilities is adequate and not in excess of the amount.
3. Provision for retirement benefits to employees was not provided on accrual basis, which is not inconformity with Accounting Standard-15 issued by ICAI and the amount has not been quantified because actuarial valuation report is not available. However, in the opinion of the management the amount involved is negligible and has no material impact on the Statement of Profit & Loss.
4. According to the opinion of the management, there is no impairment in the carrying cost of cash generating units of the Company in terms of accounting standards-28 issued by the Institute of Chartered Accountants of India.
5. The Company has not received the required information from suppliers regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006. Hence disclosures, if any, relating to amounts unpaid as at the yearend together with interest paid/payable as required under the said Act have not been made.
6. Segment Information (AS-17)
Company has only one segment of activity namely "IT & IT Enabled Servicesâ. Since there is No export turnover, there are no reportable geographical segments. The company has not indulged in share trading activity.
7. Related Party Disclosure (AS-18)
As per the Accounting Standard 18 on "Related Party Disclosuresâ issued by ICAI the related parties of the company and nature of relationship are as follows:
Note: Related Party Relationship is identified by the Management & relied upon by the Auditor.
8. The company being listed company required to follow section 203 & 134 (1), However, the view of absence of appropriate candidate for filing vacancy of Company Secretary have not appointed. The said Key Managerial Personnel as per section 203 and to the extent 134(1) Signing of financial statement have been considered only by director. However, the management has considered the matter in the process of appointing company Secretary.
Mar 31, 2014
1. The merger of Leadsoft Softech Private Limited with the N2N
Technologies Limited has been approved by Hon''ble Bombay High Court
vide it''s order dated 25th of Oct. 2013. The appointed date is 1st Apr
2012. The Company has complied with applicable accounting standard
while giving effect to the said merger.
2. During the year Company has allotted 13,41,400 equity shares of Rs.
10/- each @ Rs. 68.14 per share (including premium of Rs. 58.14 per
share) to shareholders and Debenture holders of Leadsoft Softech Pvt.
Ltd. Pursuant to the order of Hon. Bombay High Court.
3. Balances of Debtors, Loans and Advances, Secured &Unsecured Loans,
Sundry Creditors & Others are subject to confirmation and
reconciliation and consequential adjustments, if any.
4. In the opinion of the Board & to the best of their knowledge &
belief the value of realization of current assets, loans & advances in
the ordinary course of business would not be less than the amount at
which they are stated in the Balance Sheet & the provisions for all the
loans & determined liabilities is adequate and not in excess of the
amount.
5. Provision for retirement benefits to employees was not provided as
it is not applicable to the Company.
6. According to the opinion of the management, there is no impairment
in the carrying cost of cash generating units of the Company in terms
of accounting standards-28 issued by the Institute of Chartered
Accountants of India.
7. The Company has not received the required information from
suppliers regarding their status under the Micro, Small and Medium
Enterprises Development Act, 2006. Hence disclosures, if any, relating
to amounts unpaid as at the year end together with interest
paid/payable as required under the said Act have not been made.
8. Segment Information (AS-17)
Company has only one segment of activity namely "IT & IT Enabled
Services". Since there is no export turnover, there are no reportable geographical segments. The company has not indulged in share trading
activity.
9. Related Party Disclosure (AS-18)
As per the Accounting Standard 18 on "Related Party Disclosures" issued
by ICAI the related parties of the company and nature of relationship
are as follows:
Related Party Nature of Relationship
Rahul Dilip Shah Director
DSR Infotech Pvt. Ltd. One Common Director - Subsidiary
Note: Related Party Relationship is identified by the Management &
relied upon by the Auditor.
Nature and volume of transaction carried out with the above related
parties in the ordinary course of business for the year ended 31st
March, 2014
10. Earnings Per Share (AS-20)
The Earning Per Share computed as per the requirement under Accounting
Standard 20 on Earnings Per Share issued by The Institute of Chartered
Accountant of India, is as under:
11. Earnings/Expenditure in Foreign Currency - NIL
12. The Company has not received the required information from
suppliers regarding their status under the MSMED Act, 2006 Hence
disclosures if any relating to amounts unpaid as at the year-end
together with interest paid/payable as required under the said act have
not been made.
Notes:
1. Indian Rupee equivalent figures hav been arrived at byappjying
theyear end inter-bank Exchange Rate
2. DSR Infotech Private Limited''s controllingstake in Katalyst
Technolcgies Inc has come down to 50% .
Notes:
1. None of the above Subsidiaries have proposed any dividend.
2. The Company shall provide to any member on request the Annual
Accounts of the subsidiaries and other related information at any point
of time. Copies of the Annual Accounts of the Subsidiaries shall also
be available for inspection by any member at the Registered Office of
the Company and its subsidiaries on any working day.
3. Indian Rupee equivalent figures have been arrived at by applying the
year end inter-bank Exchange Rate
Mar 31, 2013
1. The merger of LeadsoftSoftech Private Limited with the N2N
Technologies Limited has been approved by BSE and also the shareholders
of the company.A petition under Section 394 of the Companies Act, 1956
for sanctioning the scheme of Amalgamation of LeadsoftSoftech Private
Limited with N2N Technologies Limited and their respective shareholders
was presented by the Company on 18-April,2013 and the same has been
admitted in the Bombay High Court on 3- May.2013. The said petition is
fixed for hearing before the Company Judge on 28* Day of June 2013 at
11.00 a.m, at Mumbai High Court. If approved the
mergerwillbeeffectivefrom1''April,2012.
2. To subscribe to shares of DSR Infotech Private Limited, the
company paid share application money of Rs.3,24,50,000/- during March,
2012. The Company was allotted 3,24,500 shares of Rs.100/- each of DSR
Infotech Private Limited on 2- November, 2012. As a result the company
holds 68.39% of DSR Infotech Private Limited making it a subsidiary of
the company. DSR Infotech Private Limited has a subsidiary, Katalyst
Technologies Inc, USA.
3. During the year the company had issued 2,66,666 0% Unsecured
Optional Fully Convertible Debentures @ Rs.150/- amounting to
Rs.3,99,99,900 to Mr. Vijay Chheda for which necessary approvals had
been obtained from the shareholders through Postal Ballot as also from
BSE.The term of 0% Unsecured Optionally Convertible Debentures ("OCD")
shall be 18 months from the date of allotment and shall be converted
into equity shares at the option of the debenture holder. The equity
shares arising on conversion shall rank parripassu with existing equity
shares. Any OCD pending conversion on expiry of period of 18 months
from the date of allotment of OCD shall be converted into Redeemable
Non Convertible Debenture of Rs. 10/- each redeemable within a period
of 3 (three) years at the coupon rate to be determined by the Board of
Directors commencing from expiry of 18 months period. The debenture
holder had applied for conversion into shares and the Board has
approved the same vide their meeting held on 10.05.2013. Consequent to
conversion the paid up capital would increase to Rs.3,06,66,660
comprising of 30,66,666 shares of Rs. 10/- and the balance amount of
Rs. 140 a share will be transferred to Share Premium account.
4. Balances of Debtors, Loans and Advances, Secured&Unsecured Loans,
Sundry Creditors & Others are subject to confirmation and
reconciliation and consequential adjustments, if any.
5. In the opinion of the Board & to the best of their knowledge &
belief the value of realization of current assets, loans & advances in
the ordinary course of business would not be less than the amount at
which they are stated in the Balance Sheet & the provisions for all the
loans & determined liabilities isadequate and not in excess of the
amount.
6. Provision for retirement benefits to employees was not provided on
accrual basis, which is not inconformity with Accounting Standard-15
issued by ICAI and the amount has not been quantified because actuarial
valuation report is not available. However, in the opinion of the
management the amount involved is negligible and has no material impact
on the Statement of Profit & Loss.
7. According to the opinion of the management, there is no impairment
in the carrying cost of cash generating units of the Company in terms
of accounting standards-28 issued by the Institute of Chartered
Accountants of India.
8. The Company has not received the required information from
suppliers regarding their status under the Micro, Small and Medium
Enterprises Development Act, 2006. Hence disclosures, if any, relating
to amounts unpaid as at the yearend together with interest paid/payable
as required under the said Act have not been made.
9. Segment Information (AS-17)
Company has only one segment of activity namely "IT & IT Enabled
Services". Since there is noexport turnover, there are no reportable
geographical segments. The company has not indulged in share trading
activity.
10. Related Party Disclosure (AS-18)
As per the Accounting Standard 18 on "Related Party Disclosures" issued
by ICAI the related parties of the company and nature of relationship
are as foilows:
11. Previous year''s figures have been recast/regrouped wherever
necessary to conform to the current year''s
classifications/presentation.
12. Accounting for taxes on income(AS-22):
Break up of Net Deferred Tax liability into major components of the
respective balance is as follows:
Mar 31, 2012
(i) Terms/Rights attached to equity shares
The Company has only one cSass of equity /hares having a par value of
Rs.10 per share. Each holder of equity shares is entitled to one vote per
share.
The Company dedares and pays dividend in Indian Rupses. In event of
Hquremainingidation of the Company, the holders of equity shares wouM
be entitled to receeve assets ole tiie Company, after distribution of
all jpreferentml amounts. The Distribution wUl be in proportion to the
number of eqrnty shares heM tiie shareholders.
[ The company has liabilities in respect of Unpaid Dividend account for
the year 2005-06 of Rs. 12,835 and the said amount has been deposited
in Indian Bank at OSHIWARA Branch at Mumbai, the present account
balance is of Rs.18,105. As per management explanation difference of
Rs. 5,270 is due to account deposited at the time of account opening.]
1. Balances of Debtors, Loans and Advances, Secured & Unsecured
Loans, Sundry Creditors & Others are subject to confirmation and
reconciliation and consequential adjustments, if any.
2. In the opinion of the Board & to the best of their knowledge &
belief the value of realisation of current assets, loans & advances in
the ordinary course of business would not be less than the amount at
which they are stated in the Balance Sheet & the provisions for all the
loans & determined liabilities is adequate and not in excess of the
amount.
3. Provision for retirement benefits to employees was not provided on
accrual basis, which is not incon- formity with Accounting Standard-15
issued by ICAI and the amount has not been quantified because actuarial
valuation report is not available. However, in the opinion of the
management the amount involved is negligible and has no material impact
on the Profit & Loss Account.
4. According to a technical assessment carried out by the Company,
there is no impairment in the carrying cost of cash generating units of
the Company in terms of accounting standards-28 issued by the Insti-
tute of Chartered Accountants of India.
5. The Company has not received the required information from
suppliers regarding their status under the Micro, Small and Medium
Enterprises Development Act, 2006. Hence disclosures, if any, relating
to amounts unpaid as at the yearend together with interest paid/payable
as required under the said Act have not been made.
6. Accounts payable to Small Scale Industrial Undertaking under the
head of Sundry Creditors - NIL (Previous Year - NIL)
7. The Revised Schedule VI has become effective from 1st April, 2011
for the preparation of financial state- ments. This has significantly
impacted the disclosure and presentation made in the financial
statements. Previous year's figures have been regrouped/reclassified
wherever necessary to correspond with the current year's
classification/disclosure.
8. Segment Information (AS-17) Company has only one segment of
activity namely "Trading and Financial Activities". Since there is No
export turnover, there are no reportable geographical segments.
9. Earnings Per Share (AS-20)
The Earning Per Share computed as per the requirement under Accounting
Standard 20 on Earning Per Share issued by The Institute of Chartered
Accountants of India, is as under:
10. Additional information pursuant to the provisions of Part II of
Schedule VI to the Companies Act, 1956: Quantitative detail in respect
of trading goods:-
Mar 31, 2003
1. In the opinion of the Board, the current assets, loans & advances
are approximately of the value stated if realised in the ordinary
course of business & adequate provision for all known liabilities of
the Company has been made.
2. The entire operation of Company relate to only one Segment viz:
Income from financial activities. Companys business activities are
confined only in India. Hence no additional disclosure are made as
required under Accounting Standard 17. on Segment Reporting issued by
the Institute of Chartered Accountants of India.
3. Related Party Disclosures :
a) List of related parties with whom transactions have taken place
during the year:
Relatives of Key Management Personnel - Mr. Abhishek Sarawgi
4. Previous Years figures have been regrouped/rearranged, wherever
necessary, so as to make them comparable with current years figures.
5. Balance Sheet Abstract & Companys General Business Profile as
required under Part IV of Schedule VI to the Companies Act 1956 is
given as per annexure A.
6. Other information required under Part I & Part II of Schedule VI
to the Companies Act, 1956 is either NIL or NOT APPLICABLE.
Mar 31, 2002
1 In the opinion of the Board, the current assets, loans & advances are
approximately of the value stated if realised in the ordinary course of
business & adequate provision for all known liabilities of the Company
has been made.
2 In view of Accounting Standard-22 "Accounting for taxes on Income"
issued by the Institute of Chartered Accountants of India, the Company
has started accounting for deferred taxes with effect from 1st April,
2001.
The accumulated net deferred tax assets amounting to Rs. 544145/- as of
1st April, 2001 have been credited to the balance in Profit & Loss
Account as on the same date. The deferred tax credit of Rs.l35312/- for
the year, has been recognised in the Profit & Loss Account.
3. The entire operation of Company relate to only one Segment viz:
Income from financial activities. Companys business activities are
confined only in India. Hence no additional disclosure are made as
required under Accounting Standard 17, issued by Institute of Chartered
Accountants of India.
4 Related Party Disclosures: The disclosures pertaining to the related
party transactions as required by the
Accounting Standard 18( AS-18) issued by the Institute of Chartered
Accountants of India, as applicable, are indicated below :-
a) List of related parties with whom transactions have taken place
during the year 2001-02
Relatives of Key Management Abhishek Sarawgi
Personnel Babita Sarawgi
b) Transaction with Relatives of Key Management Personnel
Amt (Rs.)
Sale of Fixed Assets 85,000
Hire Charges 45,000
5 Previous Years figures have been regrouped/rearranged, wherever
necessary, so as to make them comparable with current years figures.
6 Balance Sheet Abstract & Companys General Business Profile as
equired under Part IV of Schedule VI to the Companies Act, 1956 is
given as per annexure1.
7 Other information required under Part I & Part II of Schedule VI to
the Companies Act, 1956 is either NIL or NOT APPLICABLE.
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