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Nettlinx

BSE: 511658|ISIN: INE027D01019|SECTOR: Telecommunications - Service
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Mar 15
Notes to Accounts Year End : Mar '16

(a) Reconciliation of Shares outstanding at the beginning and the end of the year

There is no change in Equity Share Capital during the year ended March 31, 2016 and March 31, 2015.

(b) Terms/rights attached to Equity Shares

The Company has only one class of Equity share having a par value of ''.10/- each. Each holder of equity share is entitled to one vote per share.

(c) Details of share holders holding more than 5% of equity shares in the Company

Note 1 Term Loan

HDFC Term Loan is secured against Property at 5-9-22,3rd floor My Home Sarovar Plaza,Secretriat road,saifabad,Hyderabad

Note 2 Service tax payable

Liability for Service Tax Payable of Rs..8,85,217/- is pending and till now the company has not received the outstanding amount from debtors.

Note 3 Terms and Conditions of Short Term Borrowings

Cash Credit facility is secured by hypothecation of book debts, outstanding monies, receivables, claims, bills etc.

Note 4 Terms and Conditions of Vehicle Loan

Vehicle Loan Secured by hypothecation of the vehicle

Note 5 Dues to Micro, Small and Medium Enterprises

Dues to Micro, Small and Medium Enterprises is NIL as per the records of the company

Note 6 TDS Adjustment Account

Since, the Appeal is pending before the Honourable High Court of A.P., in respect of Income Tax for the Assessment years 1996-97 and 1997-98 of Northeast Spinners Limited, a company in existence prior to amalgamation with Nettlinx Limited, the balance lying in TDS Adjustment account Rs.28,62,989/ - is shown in Advance Taxes.

Note 7 Long Term Receivables

Long term trade receivables includes the balance debt of Rs.32,62,114/-receivable from M/s. Integrated Broadcasting Private Limited which was in arbitration proceedings. The Company has recovered an amount of Rs.33,35,914/- out of outstanding debt of Rs.65,98,028/-(as at 31st March,2012) by withdrawing the winding up petition and entering into arbitration proceedings. As on 24th January 2015, The arbitral tribunal of sole arbitrator, Hyderabad has passed the decision in favour of the company and arbitral has ordered the respondent party i.e M/s Integrated broadcasting company private limited to pay an amount of Rs. 29,08,037 with interest at 10% p.a from the date of 05th April 2014 till the date of payment. The respondent party i.e M/s Integrated broadcasting company private limited has filled the petition in the city civil court against above order.

Company has received Revised provisional license fee assessment notice from Department of Telecommunications-AP circle for the years 2005-06, 2006-07,2007-08and 2008-09 w.r.t ISP(IT) License for Rs.43,30,195/- which is disclosed as contingent liability for the year ended 31st March 2012.However the management feels that even this demand is not tenable and hence liability is not provided in the books of accounts.

Note 8: Employee benefits

A) Gratuity

The Company has a defined gratuity plan. Every employee who has completed five years or more of service gets a gratuity on departure at 15 days last drawn salary for each completed years of services.

The following tables summarize the components of net benefit expense recognized in the statement of profit and loss and balance sheet positions:

B) Leave Encashment:

The Company has a defined policy for Leave Encashment.

The following tables summarize the components of net benefit expense recognized in the statement of profit and loss and balance sheet positions:

Note 9 Figures for the previous year have been regrouped, recast and rearranged.

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