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Nettlinx
BSE: 511658|ISIN: INE027D01019|SECTOR: Telecommunications - Service
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Nettlinx is not listed on NSE
Mar 13
Notes to Accounts Year End : Mar '14
Terms/rights attached to Equity Shares
 
 The Company has only one class of Equity share having a par value of Rs
 10/- each. Each holder of equity share is entitled to one vote per
 share.
 
 1.  During the year the Company has entered into an agreement with
 Interserver, Inc of New Jersey to sell the 100% Foreign subsidary-Host
 department LLC at the terms as mentioned in the agreement dated 28th
 March, 2014.
 
 2.  During the year company has sold LGI IT solutions pvt ltd''s shares
 to its 100% subsidary Netllinx Aquaculture Pvt Ltd
 
 3. During the year the name of the subsidary company Nettlinx
 Channels Private limited has been changed to Nettlinx Aquaculture
 Private Limited effective from 20/03/2014
 
 5. Contingent Liabilities :
 
                               As at 31st March,      As at 31st March,
                                     2014 Rs.               2013  Rs.
 
 Unexpired Bank Guarantees         21,22,765               21,22,765
 
 Provisional License fee           43,30,195               43,30,195
 Assessment
 
 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.
 
 6. In line with revised Schedule VI, figures for the previous year have
 been regrouped, recast and rearranged.
Source : Dion Global Solutions Limited
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