1. 5,00,000 (5,00,000) shares out of the subscribed and fully paid up
share capital were alloted in the last five years to the shareholders
of Cyber Media India Online Limited in scheme of amalgamation
2. NIL (5,00,000) shares of Rs. 10/- each fully paid, without payment
being received in cash, pending allotment to the shareholders of Cyber
Media India Online Limited
3. Secured term loans from banks to the extent of :
a) Rs. 15,000,000/- (Rs. 20,000,000/- ) From State Bank of Mysore, are
secured by way of first charge on all the present and future, movable
(excluding those charged to hire purchasers) and immovable assets
including current assets of the company.
Also the loans are secured by personal guarantee of Mr. Pradeep Gupta.
b) Rs 2,18,777/- (Rs 353,044/-) from HDFC Bank Limited are secured
against specific vehicles
c) Rs. 100,000,000/- (Rs.100,000,000) From Kotak Mahindra Bank, are
secured by way of first charge on D-74, Panchsheel Enclave, New Delhi
(Residential property of Chairman & Managing Director)
Note:
Pursuant to case ROC vs Pradeep Gupta & Others:
As per Sub-Section 4(e) of Section 125 of the Companies Act, 1956, a
pledge is excluded from the application of the said section. The
vehicle loans taken by the Company during the period from 2006-07 to
2008-09 have already been repaid in full and thereafter no vehicle loan
was taken by the company. The non compliance of the provisions of
section 125 of the said Act has automatically been made good and the
company is in due compliance of the provisions of section 125 of the
said Act, from financial year 2009-10 onwards
* Outstanding vehicles loan amount transferred from Cyber Media India
Online Limited under the scheme of amalgamation duly approved by
hon'ble High Court of Delhi vide its order dated 18.02.2011
4. The Company has not received any intimation from Micro, small and
Medium enterprises under the 'Micro, Small and Medium Enterprises
development Act, 2006'. As per information available with the company,
no interest is paid or payable under the Act.
5. Trade Payables includes amount payable to vendors, consultants,
employees etc
6. Other loans and advances includes the advances recoverable in cash
or in kind or for value to be received, Rs. 56,09,359/ deposited with
sales tax authorities
7. Trade receivable includes amount due from Subsidiary/Associates on
account of expenses incurred on behalf.
Note:
Pursuant to case ROC vs Pradeep Gupta & Others:
The non compliances in respect of section 209(3)(b) of the Companies
Act, 1956, has already been made good by the Company. The company is in
proper compliance of the provision of said section.
8. Margin money includes Rs. 8,174,203/- (Rs. 7,862,484/-) as FDR
with State Bank of Mysore against bank gurantee of loan taken in
foreign and the same will be renewed every year till the loan is repaid
9. Margin money includes Rs. 5,000,000/- (Rs. NIL) as FDR with Kotak
Mahindra Bank against gurantee of loan taken from Kotak Mahindra Bank
and the same will be renewed every year till the loan is repaid
10. Total of bank guarantees outstanding as at year end amounting to
Rs. 340,500/- given to customs and postal department against which 100%
margin has been deposited with the bank. Total amount outstanding
against Buyers Credit as on 31-03-2013 is Rs. 49,45,012 (91282.50 USD)
11. In accordance with the revised Accounting Standard 15 notified
under the Companies (Accounting Standards) Rules, 2006 the requisite
disclosures are as follows:
a. Description of the type of plan(s)
i. Gratuity Plan
The Gratuity liability arises on retirement, resignation and death of
an employee. The aforesaid liability is calculated in accordance with
The Payment of Gratuity Act, 1972.
ii. Leave Encashment Plan
The earned leave liability arises on retirement, withdrawal,
resignation and death of an employee. The aforesaid liability is
calculated on the basis of yearly accrual of 30 days salary (i.e last
drawn salary) subject to maximum accumulation up to 90 days.
Names of related parties and description of relationship:
Subsidiaries
Cyber Media Research & Services Limited
Cyber Media Services Limited
Cyber Media Singapore Pte Limited Cyber
Media India LLC Cyber Astro Limited
Subsidiaries of subsidiary
TDA Group LLC
Global Services Media LLC
Associates
Cyber Media Foundation Limited
Any Time Media Pvt Ltd
Cyber Media Careers Limited
Key Management Personnel
Mr. Pradeep Gupta
Relative of key management personnel
Mrs. Sudha Bala Gupta
Mr. Dhaval Gupta
12. Segment Reporting
The Company is engaged in the Media Business which is identified as the
only and primary business segment of the company. Therefore no further
information is required to be disclosed. Further all the operating
facilities are located in India. The information required to be given
for secondary segment being geographical segment is as under:
13. Contingent Liabilities and commitments:
a) Guarantees given to State Bank of Mysore to secure facilities of:
i) As per Accounting Standard 29 on Provisions, Contingent Liabilities
and Contingent Assets following are the contingent liabilities:
Guarantees given to State Bank of Mysore to secure facilities of Rs.
17.50 million to Cyber Media Research Limited
ii) Stand -by letter of credit favouring Citi Bank, New York to secure
the term loan of USD 3.4 million [outstanding as on 31-03-2013 Rs.
111.09 million (Previous year Rs. 126.61 million) sanctioned to Cyber
Media India LLC towards the assets purchase of the TDA Group,
California.
14. In the opinion of the Management, there is no permanent diminition
in the value of investments.
15. Previous year figures have been regrouped/ reclassified, wherever
necessary, to confirm to current year's classification.
16, The Company has no other information required to be disclosed
pursuant to Schedule III to the Companies Act, 2013.
17. The Company has taken various offices under cancellable lease
agreement. There are no non-cancellable leases. Lease payment
recognized under cancellable lease for the year are Rs 19,84,338/-
(Previous Year Rs 53,90,381/-)
18. Company has not capitalized any borrowing cost during the year.
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