1. As at the Balance Sheet date the Company does not have any dues
outstanding to Micro, Small and Medium Enterprises as defined in the
The Micro, Small and Medium Enterprises Development Act and as such no
interest is paid or payable or accrued or outstanding during the year
to any suppliers who are covered under the Micro, Small and Medium
Enterprises Development Act, 2006.
2. The Company is engaged in the business of Software Development /
Services and licensing of Software Products and related services. The
production and sale of such software and related services cannot be
expressed in any generic unit. Hence it is not possible to give the
quantitative details of sales and information as required under
paragraphs 3,4C and 4D of Part II to Schedule VI to the Companies Act,
1956.
3. The Employment term does not provide for Leave Encashement and
hence no provision has been made in the accounts.
4. The entire expenditure relating to Advertisement for Brand
building, Printing of Course Contents and an amount of Nil (Previous
year Rs. 18,00,000/-] relating to Employment Expenses has been deferred
and has been included in Capital Work in Progress.
5. The total Directors Remuneration for the year is Rs. 1,02,00,000/-
(Previous Year Rs. 84,68,720/-). Out of the above Rs. Nil (Previous
Year Rs. 18,00,000/-) is deferredand included under Capital Workin
Progress Product Development.
6. Share Application money of Rs. 8,75,11,065/- (Previous Year Rs.
50,10,986/-) received from preferential applicants (Previous Year Rs.
25,00,003/- received from Mr. S. Giridharan and Rs. 25,00,003/-
received Mrs. G. Gita) towards 25% of Share Warrant application money)
issued during the year.
7. The Company has taken various offices under operating lease
agreements. These are generally cancelable and are renewable by mutual
consent on mutually agreed terms. Rental Expenses of Rs. 61,99,391/-
(Previous Year Rs. 39,11,118/-) in respect of obligation under
operating leases have been recognized in the Profit and Loss Account.
8. There are no amounts due and outstanding to be credited to
Investors Education and Protection Fund as on 31st March 2011 (Previous
Year - Nil).
9.Figures have been rounded off to the nearest rupee and are regrouped
/ reclassified wherever necessary. |