b) In response to order received for demand of service tax of INR 3.99 Cr(FY2007-12) , the company has filled an apeal with CESTAT and the same is pending as on date.
c) The Company has a tax demand from Franchisee Tax Board .of $494563 (Rs 3.75 Crores) relating to tax years 2011 and 2012 . The same is accounted for. The company has started making installment based payments and is trying to seek further relief . The demand for tax years 2014-16 from FTB were settled for $ 27911 which has been paid and accounted for.
d) The Company has pending claims of Rs 1.88 Crores on account of Service Tax Refunds. The Company had filed an appeal with High Court.
e) the company has created a Deferred Revenue assets to be adjusted with Installments receivable in cases where sales have been made under installment payment as In AS 115.
f) The company has obtained rights of software named Payabbhi for its enhancement, modification and integration to commercialise the same by Selling the license of enhanced version created by the company from Paypermint Private Limited.
g) The company is committed to supoort the operations of its subsidiary Paypermint Private Ltd. during the current Financial year.
33 a) In respect of GST which are non cenvatable or non refundable the same amount is being charged to respective expense account.
b) Invoice of Rs.5.80 crore has been raised by HO during the year on behalf of the Branch in USA for services renderred to Branch leading to Contra effect/entry.
34 Litigation
a) Case filed by Company on Software One, its Vendor for Non Perfrormance is pending with High Courts
b) Case filed by Company on G Ravi.s disputed claim/ of 12000 Shares is pending with court.
35 The Company had moved to a new Property on rent w.ef from 01.10.2022 for a period of 24 months , under Rental agreement with Workshala.
36 Acturial valuation of Leave and gratuty is done at year end disclosed in Annexure to Note No.36
37 a) Fair Value Measurements are annexed to these account are disclosed in Annexure to Note 37 a) b) Financial Risk Managemenet assesements are disclosed in Annexure to note no. 37b)
b Remittance in Foreign Currency
The Company has remitted ? Nil (MAR 2023: ? Nil) in foreign currencies on accounts of dividends as on March 31, 2024 and does not have information as to the extent to the extent to which remittance, if any, in foreign currencies on account of dividends have been made by / on behalf of non-resident shareholders.
*Assets used in the Company's business are not capable of being specifically identified with any of the segments, and it is not practical to provide segmented disclosures in relation to total assets and liabilities with any reasonable degree of accuracy. Unallocated expenses have not been disclosed in any segment.
44 Additional Regulatory Information required by Schedule III
(i) Borrowing secured against current assets
The Company does not have any borrowings in the form of term loans, overdraft and extended credit secured against Current Assets.
(ii) Wilful defaulter
The Company has not been declared wilful defaulter by any bank or financial institution or government or any government authority.
(iii) Relationship with struck off companies
The Company has not entered into any transactions with the companies struck off under the Companies Act, 2013 or the Companies Act, 1956.
(iv) Compliance with number of layers of companies
There is no non-compliance with regard to the number of layers of companies prescribed under clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017.
(v) Compliance with approved scheme(s) of arrangements
The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous financial year.
(vi) Utilisation of borrowed funds and share premium
The Company has not advanced or loaned or invested funds to any other person or entity, including foreign entitiy (Intermediary) with the understanding that the Intermediary shall:
a) directly or indirectly lend or invest in other person or entitiy identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or
b) provide any guarantee, security or the like to or on behalf of the ultimate beneficiaries
45 The Company is primarily engaged in the rendering services relating to maintenance and testing of Computer Software . These cannot be expressed in any generic units. Hence it is not possible to give the quantities details of sales and certain information as required under paragraph 5 (viii) ‘(c) of general instructions for preparation of statement of profits and loss as per revised schedule VI of the Companies Act 2013.
46 The previous year figures have been regrouped, reclassified and restated, wherever necessary, to correspond with the current year's classification.
47 Financial figures have been rounded off to nearest ? Lac.
The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the company shall:
a) directly or indirectly lend or invest in other person or entitiy identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or
b) provide any guarantee, security or the like on behalf of the ultimate beneficiaries
(vii) Undisclosed income
The company has not surrendered or disclosed any income during the current or previous year in the tax assessments under the Income Tax Act, 1961, that has not been recorded in the books of account.
(viii) Corporate Social Responsibility
The Company is not covered under section 135 of the companies Act 2013 and rules made thereunder.
(ix) Details of crypto currency or virtual currency
The Company has not traded or invested in crypto currency or virtual currency during the current or previous year.
(x) Valuation of PP&E, intangible asset and investment property
There is no revaluation of PP & E, Intangible assets and investment Property.
(xi) Benami Property
No proceedings have been initiated on or are pending against the company for holding benami property under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and Rules made therunder.
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