Post on 25-May-2020
Index
Director's Report
Balance Sheet
Profit & Loss Statement
Cash Flow Statement
Notes To Financial Statements
Notes to Accounts
Notice of AGM
Explanatory Statement
Proxy Form
Attendance Slip
001
005
007
009
011
013
024
026
028
029
© 2017 Copyright SAVIC Technologies Pvt. Ltd. All rights reserved .
Director's ReportSAVIC TECHNOLOGIES PRIVATE LIMITED
Annual Reports 2017
Currency : Indian Rupee
The MembersSAVIC TECHNOLOGIES PRIVATE LIMITEDOffice No B-707, Great Eastern Summit-B,CBD, Belapur Road, Plot No. 66, Sector 15, CBD Belapur,, Navi Mumbai - 400614, Maharashtra
Your Directors have pleasure in presenting their Annual Report and Audited Statement of Accounts of the Company for the year ended on 31st March 2017.
1. Financial Performance of Company and Affairs:
The financial performance of the Company/ company's state of affairs for the financial year ended 31st March, 2017 is summarized below:
Profit/Loss before depreciation and amortization
Depreciation and amortization for the year
Net Profit/Loss after depreciation and amortization
Exceptional Items
Profit before extraordinary items and tax
Extraordinary Items
Profit before tax
Current tax expense
Deferred tax expense
Profit/Loss for the period from continuing operations
Profit/Loss from discontinuing operations
Tax expense of discontinuing operations
Profit/Loss from discontinuing operations (after tax)
Profit/Loss transferred/adjusted to General Reserve
Basic earnings per equity share
Diluted earnings per equity share
Particulars 31/03/2017
12,294,364
3,26,673
11,967,691
0.00
11,967,691
0.00
11,967,691
40,30,057
-65,734
80,03,368
0.00
0.00
0.00
0.00
1.73
1.73
2. Financial Review/ Highlights:During the year under review, your Company reported a satisfactory performance. The Company's profit after tax for the year ended 31st March, 2017 was Rs. 8003368. Further your directors hope better prospects in years to come.
3. State of the Company's Affairs :The Company is engaged in the business of Enterprise software service provider in the field of SAP, Newgen, Kronos, Intralinks and Xpandion application.
Page No. 001
Director's ReportSAVIC TECHNOLOGIES PRIVATE LIMITED
Annual Reports 2017
Currency : Indian Rupee
4. Change in the nature of business:There was no change in the nature of the business of the Company or of any of its Subsidiary, Joint venture o r Associate Company done during the year under review.
5. Dividend, If any Recommended:In view of Conservation of resource during the year under review, Directors do not recommend any dividend during the year.
6. Reserves, if any Proposed: No amount is transferred in the form of reserves.
7. Issue of Equity Shares with Differential Rights :The Company has not issued any Equity Shares with Differential Rights
8. Buy Back of shares :The Company has not bought back any of its securities during the year under review.
9. Bonus Shares :No Bonus Shares were issued during the year under review.
10. Sweat Equity :The Company has not issued any Sweat Equity Shares during the year under review.
11. Extract From Annual Return :The extracts of Annual Return pursuant to the provisions of Section 92 read with Rule 12 of the Companies (Management and Administration) Rules, 2014 is furnished in Annexure I and is attached to this Report.
12. Numbers of Meetings of Board :During the financial year ended 31st March 2017, Fourteen meetings of Board of Directors were held on13-May-2016,01-Jul-2016,07-Jul-2016,20-Jul-2016,28-Jul-2016,30-Jul-2016,06-Aug-2016,30-Aug-2016,19-Oct-2016,05-Jan-2017,11-Feb-2017,28-Feb-2017,20-Mar-2017,31-Mar-2017 and the minutes thereof were duly recorded in the minutes book maintained for the purpose.
Details of Directors as on 31st March 2017 and their attendance at the Board during the financial year ended 31st March 2017 are given below:
Name of the Director
Senthil Kumar Subramaniam
Suganthi Senthil Kumar
No. of Board Meeting held
14
14
No. of Board Meeting attended
14
14
13. Loans, Guarantees & Investments u/s 186 :There were no loans, guarantees or investments made by the Company under Section 186 of the Companies Act, 2013 during the year under review.
14. Related Party Transactions u/s 188(1) :The Particulars of Contracts or Arrangements made with related parties pursuant to Section 188 is furnished in Annexure II and is attached to this report.
Page No. 003Page No. 002
© 2017 Copyright SAVIC Technologies Pvt. Ltd. All rights reserved . © 2017 Copyright SAVIC Technologies Pvt. Ltd. All rights reserved .
Director's ReportSAVIC TECHNOLOGIES PRIVATE LIMITED
Annual Reports 2017
Currency : Indian Rupee
15. Explanations on every remark made by Auditor in his Report :There were no qualifications, reservations or adverse remarks made by the Auditors in their report for the year ending
16. Material changes and commitments, if any, affecting the financial position Of the Company :There were no material changes and commitments affecting the financial position of the company have occurred between the end of the financial year under review and the date of the Board report.
17. Conservation of energy, technology absorption, foreign exchange earnings and outgo in manner prescribed :The information relating to the conservation of energy, technology absorption, foreign exchange earnings and outgo the manner as prescribed under Section 134 (3) (m) of the Companies Act, 2013 and Rule 8(3) of the Companies (Accounts) Rules, 2014 is furnished in Annexure MGT-9 and is attached to this report.There was no foreign exchange inflow or Outflow during the year under review.
18. Details of Subsidiary, Joint Venture or Associates :The Company does not have any Subsidiary, Joint venture or Associate Company.
19. Risk Management Policy :The Company does not have any Risk Management Policy as the elements of risk threatening the Company's existence are very minimal.
20. Details of Directors and Key Managerial Personnel :There was no change in the constitution of the Board of Directors of the Company during the year under review.
21. Disqualifications of Directors, if any :None of the Directors on the Board of the Company are disqualified pursuant to the provisions of Section 164 or Schedule V Part II of the Companies Act, 2013.
22. Details of significant & material orders passed by the regulators or courts :No significant orders were passed by the regulators or courts or tribunals impacting the going concern status and company's operation in future during the year under review and till the Report Date.
23. Statement in Respect of Adequacy of Internal Financial Control with Reference to the Financial Statements :The Company was not required to appoint internal auditors for the Financial Year 2016-17. However, adequate measure has been adopted within the organization to ensure that all information used within the business and for external reporting is adequate.
24. Deposits :The Company has neither accepted nor renewed any deposits during the year under review.
25. Details of CSR Policy & its implementation (applicable to select private and public companies) during the year :The Company has not developed and implemented any Corporate Social Responsibility initiatives as the said provisions are not applicable according to Sec 135 ( 1 ).
26. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:The Company has in place an Anti Sexual Harassment Policy in line with the requirements of The Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act, 2013.
Internal Complaints Committee (ICC) has been set up to redress complaints received regarding sexual harassment. All employees (permanent, contractual, temporary, trainees) are covered under this policy.
The following is a summary of sexual harassment complaints received and disposed off during the year 2015-16 -
No of complaints received: NIL
No of complaints disposed off: NA
Director's ReportSAVIC TECHNOLOGIES PRIVATE LIMITED
Annual Reports 2017
Currency : Indian Rupee
4. Change in the nature of business:There was no change in the nature of the business of the Company or of any of its Subsidiary, Joint venture o r Associate Company done during the year under review.
5. Dividend, If any Recommended:In view of Conservation of resource during the year under review, Directors do not recommend any dividend during the year.
6. Reserves, if any Proposed: No amount is transferred in the form of reserves.
7. Issue of Equity Shares with Differential Rights :The Company has not issued any Equity Shares with Differential Rights
8. Buy Back of shares :The Company has not bought back any of its securities during the year under review.
9. Bonus Shares :No Bonus Shares were issued during the year under review.
10. Sweat Equity :The Company has not issued any Sweat Equity Shares during the year under review.
11. Extract From Annual Return :The extracts of Annual Return pursuant to the provisions of Section 92 read with Rule 12 of the Companies (Management and Administration) Rules, 2014 is furnished in Annexure I and is attached to this Report.
12. Numbers of Meetings of Board :During the financial year ended 31st March 2017, Fourteen meetings of Board of Directors were held on13-May-2016,01-Jul-2016,07-Jul-2016,20-Jul-2016,28-Jul-2016,30-Jul-2016,06-Aug-2016,30-Aug-2016,19-Oct-2016,05-Jan-2017,11-Feb-2017,28-Feb-2017,20-Mar-2017,31-Mar-2017 and the minutes thereof were duly recorded in the minutes book maintained for the purpose.
Details of Directors as on 31st March 2017 and their attendance at the Board during the financial year ended 31st March 2017 are given below:
Name of the Director
Senthil Kumar Subramaniam
Suganthi Senthil Kumar
No. of Board Meeting held
14
14
No. of Board Meeting attended
14
14
13. Loans, Guarantees & Investments u/s 186 :There were no loans, guarantees or investments made by the Company under Section 186 of the Companies Act, 2013 during the year under review.
14. Related Party Transactions u/s 188(1) :The Particulars of Contracts or Arrangements made with related parties pursuant to Section 188 is furnished in Annexure II and is attached to this report.
Page No. 003Page No. 002
© 2017 Copyright SAVIC Technologies Pvt. Ltd. All rights reserved . © 2017 Copyright SAVIC Technologies Pvt. Ltd. All rights reserved .
Director's ReportSAVIC TECHNOLOGIES PRIVATE LIMITED
Annual Reports 2017
Currency : Indian Rupee
15. Explanations on every remark made by Auditor in his Report :There were no qualifications, reservations or adverse remarks made by the Auditors in their report for the year ending
16. Material changes and commitments, if any, affecting the financial position Of the Company :There were no material changes and commitments affecting the financial position of the company have occurred between the end of the financial year under review and the date of the Board report.
17. Conservation of energy, technology absorption, foreign exchange earnings and outgo in manner prescribed :The information relating to the conservation of energy, technology absorption, foreign exchange earnings and outgo the manner as prescribed under Section 134 (3) (m) of the Companies Act, 2013 and Rule 8(3) of the Companies (Accounts) Rules, 2014 is furnished in Annexure MGT-9 and is attached to this report.There was no foreign exchange inflow or Outflow during the year under review.
18. Details of Subsidiary, Joint Venture or Associates :The Company does not have any Subsidiary, Joint venture or Associate Company.
19. Risk Management Policy :The Company does not have any Risk Management Policy as the elements of risk threatening the Company's existence are very minimal.
20. Details of Directors and Key Managerial Personnel :There was no change in the constitution of the Board of Directors of the Company during the year under review.
21. Disqualifications of Directors, if any :None of the Directors on the Board of the Company are disqualified pursuant to the provisions of Section 164 or Schedule V Part II of the Companies Act, 2013.
22. Details of significant & material orders passed by the regulators or courts :No significant orders were passed by the regulators or courts or tribunals impacting the going concern status and company's operation in future during the year under review and till the Report Date.
23. Statement in Respect of Adequacy of Internal Financial Control with Reference to the Financial Statements :The Company was not required to appoint internal auditors for the Financial Year 2016-17. However, adequate measure has been adopted within the organization to ensure that all information used within the business and for external reporting is adequate.
24. Deposits :The Company has neither accepted nor renewed any deposits during the year under review.
25. Details of CSR Policy & its implementation (applicable to select private and public companies) during the year :The Company has not developed and implemented any Corporate Social Responsibility initiatives as the said provisions are not applicable according to Sec 135 ( 1 ).
26. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:The Company has in place an Anti Sexual Harassment Policy in line with the requirements of The Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act, 2013.
Internal Complaints Committee (ICC) has been set up to redress complaints received regarding sexual harassment. All employees (permanent, contractual, temporary, trainees) are covered under this policy.
The following is a summary of sexual harassment complaints received and disposed off during the year 2015-16 -
No of complaints received: NIL
No of complaints disposed off: NA
Director's ReportSAVIC TECHNOLOGIES PRIVATE LIMITED
Annual Reports 2017
Currency : Indian Rupee
27. Statutory Auditors :M/s E. A Patil & Associates LLP, Chartered Accountants (FRN:117371W/W100092), were appointed as Statutory Auditors for a period of one years on 5th May 2016 . Their continuance of appointment and payment of remuneration are to be confirmed and approved in the ensuing Annual General Meeting. The Company has received a certificate from the above Auditors to the effect that if they are appointed, it would be in accordance with the provisions of Section 139, Section 141 and Rules framed thereunder, of the Companies Act, 2013.
2. Directors Responsibility Statement :a) In accordance with the provisions of Section 134(5) of the Companies Act, 2013 the Board hereby submits its
responsibility Statement:(a) in the preparation of the annual accounts for the year ended 2017. The applicable accounting standards along with proper explanation relating to material departures. Any specific reasons/ explanations:
b) The directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31st March 2017 and of the profit of the Company for that period;
c) The directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act 2013 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;
d) The directors had prepared the annual accounts on a going concern basis;
e) The directors had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and are operating effectively.
f) The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.
28. Acknowledgment :
The Board of Directors of the Company wish to place on record, their thanks and appreciation to all workers, staff members, executives, business associates and consultants for their contribution to the operations of the Company. The Directors also place on record their sincere thanks to the shareholders for their continued support, co-operation and confidence in the Management of the Company.
Senthil Kumar Subramanian
Managing Director
DIN :07465164
Suganthi Senthil Kumar
Director
DIN :03494507
By order of the Board
Address-H68/04, Sunrise
Society, Sector - 4, Nerul
(West),, Navi Mumbai, Pin:
400706, State- Maharashtra-
MH, Country- INDIA
Address-H68/04, Sunrise
Society, Sector - 4, Nerul
(West),, Navi Mumbai, Pin:
400706, State- Maharashtra-
MH, Country- INDIA
Place:
Date:
Page No. 005Page No. 004
© 2017 Copyright SAVIC Technologies Pvt. Ltd. All rights reserved . © 2017 Copyright SAVIC Technologies Pvt. Ltd. All rights reserved .
Balance Sheet
ST31 MARCH, 2017 SAVIC TECHNOLOGIES PRIVATE LIMITED
Annual Reports 2017
Particulars Note No.As at 31st
March, 2017Sr. No
EQUITY & LIABILITIES
(a) Equity & Liabilities
Shareholders’ funds
(b) Reserves and Surplus
Share Application Money pending Allotment
Non-current liabilities
Current liabilities
ASSETS
Non-current assets
(a) Fixed assets
(i) Tangible assets
(ii) Intangible Assets
(iii) Capital Work in Progress
(iv) Intangible Assets under Developments
(b) Non Current Investments
(c) Deferred Tax Assets (Net)
(d) Long-Term Loans and Advances
(e) Other Non-Current Investments
(a) Long-Term Borrowings
(a) Short-Term Borrowings
(b) Deferred Tax Liabilities (Net)
(b) Trade Payables
(C) Other Long Term Liabilities
(C) Other Current Liabilities
(d) Long Term Provisions
(d) Short-Term Provisions
TOTAL
Current assets
(a) Current Investments
(b) Inventories
(c) Trade Receivables
(d) Cash and Bank Balances
(e) Short-Term Loans and Advances
(f) Other Current Assets
I.
2
3
4
II
1.
1
4
5
7
8
9
10
11
12
13
14
15
3
6
3,530,001
5,200,333
-
4,374,031
965,110
5,477,220
27,125,200
368,863
-
-
-
-
65,734
384,000
-
7,578,505
-
-
-
-
-
TOTAL
-
-
15,906,188
3,731,249
5,442,806
1,226,360
27,125,200
Currency : Indian Rupee