| 1. The accounts of the Company Wholly own subsidiary Company M/s
Advaitaa Technologies inc. an Animation and Games content Provider
Company enclosed herewith.
2. The audited consolidation accounts for the year period ended as
prescribed under the IAS also enclosed.
3. The Company issued GDSs with underlying Equity Shares of the
Company for the acquit ion of the said 100% WOS through swap of shares.
4. Payments made to/provided for auditors during the year Rs. 165,450
compares to previous for Rs. 160,330, The payment includes the
certification charges for Rs. 50,000 for the year as well as previous
year.
5. Segment Reporting
Animation Content Development service is the single business segment,
which constitutes the primary basis of segmental reporting set out in
financial statements. Secondary segmental reporting is based on the
geographical location of its customers.
6. Related Party Transactions
During the year ended June 30 2011, the Company has entered into
transaction with related party.
Summary of the transactions with the above-related parties is as
follows
a. Investment in Subsidiary Current Year Nil (Previous Year Rs.
675,000,000)
b. Remuneration to director Mr. Krishnakumar Subramanian Rs. 1,200,000
(Previous Year 555,293)
c. Outstanding balance receivable from Silverline Technologies Ltd Rs.
38,719,987 Previous Year Rs. 58,228,762)
7. Fixed Assets Balance has been certified by the management.
8 During the current year Company completed the acquitting of
Advaitaa Technologies Inc. and it becomes 100% WOS of the Company.
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