Nettlinx Limited is a Category B licensed ISP, with operations in
Andhra Pradesh started in 1999. Currently Nettlinx has its operations
Across Major cities in Andhra Pradesh.
Nettlinx Limited provides a portfolio of high quality Internet
solutions for data voice and security, to cater to the corporate
customer needs. Leveraging its technological, and Regional presence,
Nettlinx is able to bring value and strong support to the customers.
Nettlinx has strategic and long lasting relationships with major
Telecom Operators in India.
The Company backed by over 14 years of experience, not to mention an
uncompromising stan- dard in the provision of best-in-class products
and uninterrupted services. The Company deliver maximum uptime,
expertise and specialist knowledge to assist both individuals and
businesses in harnessing the benefits of Internet technology for real
1. Provision for Diminution in the value of Investment
During the year ended 31st March 2011 the company has assessed the
operations of Subsidiaries including the future projections to identify
the indicators of diminution other than temporary, in the value of
Investments recorded in the books of accounts and accordingly has made
the following provision.
Name f the subsidiary Amount (Rs.)
Host Department LLC USA 1,44,19,466
2. Taxes on income - Tax expense for the year consists of deferred
tax. Deferred tax assets and liabilities are measured using tax rates
and tax laws that have been enacted or substantively enacted by the
balance sheet date. The effect on deferred tax assets and liabilities
of a change in tax rates is recognized for the profit and loss account
in the year of change. This year the company has recognized and carries
forward Deferred Tax Asset only to the extent of reasonable certainty
that sufficient future taxable income will be available against which
Deferred Tax Asset can be realized.
3. Contingent liabilities-
As on As on
Unexpired Bank Guarantee 18,53,000 12,00,000
(with 100% cash margin)
Provisional License fee
Assessment 1,07,31,323 Nil
Company has received provisional license fee assessment notice from
Department of Tele- communications-AP circle for the years 2005-06,
2006-07and 2007-08 w.r.t ISP(IT) License for Rs.1,07,31,323/- which is
disclosed as contingent liability for the year ended 31st March
2011.However the management feels that the demand is not tenable and
hence liability is not provided in the books of accounts.
6. None of the suppliers had informed the company that they are in the
nature of small scale undertaking (SMEs). Hence, information regarding
dues to small scale undertaking, if any, could not be furnished.
7. Related Party Disclosures
Information relating to related party transactions as per Accounting
Standard 18 issued by The Institute of Chartered Accountants of India
Northeast Broking Services Ltd Northeast Commodities Pvt.Ltd
9. 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 separately in Current Assets.
10. In Case of Integrated Broadcasting Pvt Ltd the company has issued
legal notice for not paying outstanding debt amounting to Rs 65,98,028
as on 30th June 2011. The debtor has not responded for the notice,
whereas it has specified that appropriate legal action would be
initiated against the debtor both Civil & Criminal for the recovery of
amount, and accordingly legal proceedings for winding up of company U/S
433 (a) of the Companies Act 1956 are initiated against the debtors by
filing a petition in the High Court Judicature of Andhra Pradesh. The
court decision is till date not finalized. However the management is
confident of recovering the amount.
11. Figures for the previous year have been regrouped, recast and
rearranged to confirm to those of the current year wherever