1. General Information
CAT Technologies Limited (the Company or CAT) is engaged in
the business of Medical Transcription, Training, Software Development
and consulting services.
(a) Rights attached to Shares
Equity Shares: The Company has one class of equity shares having a par
value of Rs. 10/- per share. Each Shareholder is eligible for one vote
per share held.
(b) GDR issue details
(i) In the Financial Year 2007-08 43,04,348 No''s GDR equivalent to
2,58,26,088 Equity Shares of Rs. 10/- each have been issued as 1 GDR is
equivalent to 6 Equity Shares
(ii) In the Financial Year 2009-10 15,95,333 No''s GDR equivalent to
4,78,59,990 Equity Shares of Rs. 10/- each have been issued as 1 GDR is
equivalent to 30 Equity Shares
(a) Nature of Security and terms of repayment for Secured Borrowings
Nature of Security
Vehicle loan from HDFC amounting to Rs. NIL /- (March 31,2011: Rs 1.67
Lakhs) is secured by way of Hypothecation of Vehicle.
Terms of Repayment
Repayable in 11 equal monthly instalments of Rs. 15,850/- each
(b) Unsecured Loans are repayable as and when the Lender serves the
intimation to the Company. As such there are no Terms for repayment of
these unsecured loans.
(c) The above loan from Mr.Dinesh Kumar Jaiswal (Director) is repayable
Note: In accordance with Accounting Standard 22 on Accounting for Taxes
on Income, the Company has computed Deferred Tax Asset amounting to
Rs.8.75 Lacs on account of timing difference in relation to
depreciation as per books vis.a.vis Tax Laws.
(a) Overdraft Loans from banks are secured by first charge on Land &
Building at 404, 4th floor, Chandralok Complex, Paradise, Secunderabad
belonging to the director of the company.
(b) Vehicle loan from HDFC amounting to Rs. 166,497/- (March 31,2011:
Rs 2.90 Lakhs) is secured by way of Hypothecation of vehcile.
2. Contingent Liabilities
There are no contingent liabilities.
3. Capital and other commitments
There are no capital and other commitments as on the date of Balance
During the previous year''s goodwill was considered under
Miscellaneous expenditure not written off, where as in the current year
as per the revised schedule VI goodwill is grouped under intangible
assets. As per the decision of the Management, Goodwill is not being
b. Segment Reporting
The Company''s exclusive business is Medical Transcription, Training
Software Development and Consulting Services as such this is the only
reportable segment as per Accounting Standard - 17 on Segment Reporting
issued by the Institute of Chartered Accountants of India. As the
Company consider whole of India as a-single geographical segment, the
disclosures related to secondary segments are not relevant for the
c. Related Party Disclosures
List of related parties with whom transactions have taken place during
a) Associates: CAT Degree College
CAT Technology Inc
CAT Technology FZE
Espirit Technologies Pvt Ltd
Veteran Typewriting Institute & Xerox Centre
b) Relatives of Directors Mrs.Nisha Jaiswal
Mrs.Namrita Jaiswal Mrs.Muneerosmani
c) Key Managerial Personnel Mr.Dhiraj Kumar Jaiswal-Managing Director
Mr. C.K.M. Prasad - Wholetime Director
Current tax is reckoned based on the current year''s income and tax
payable in accordance with the prevailing tax laws. Further income tax
paid for the Asst Year 2009-2010 amounting to Rs. 4.55 lakhs is
included in the current years tax.
In accordance with Accounting Standard 22 on Accounting for Taxes on
Income, the Company has computed Deferred Tax Asset amounting to
Rs.7,93,396/- on account of timing difference in relation to
depreciation as per books vis-a-vis Tax Laws.
Operating Lease: The Company has significant operating lease for
premises at sites. These lease arrangements operate for a period
between 1 year to 10 years. The said leases are renewable for further
period on mutually agreeable terms and also include escalation clause.
f. Dues to Micro and Small Enterprises
The information required to be disclosed under the Micro, Small and
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. There are no over dues to parties on
account of principal amount and / or interest and accordingly no
additional disclosures have been made.
g. Previous Year Figures
The financial statements for the year ended March 31, 2012 have been
prepared as per the then applicable, Schedule VI to the Companies Act,
1956. Consequent to the notification for Revised Schedule VI under the
Companies Act, 1956, the financial statements for the year ended March
31, 2012 are prepared as per Revised Schedule VI. Accordingly, the
previous year figures have also been reclassified/re-grouped to confirm
the current year''s classification. The adoption of Revised Schedule
VI for previous year figures does not impact recognition and
measurement principles followed for preparation of financial statements
except for accounting disclosure.