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THE FUTURE IS

TO CREATE IT

Annual Report 2017-18

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


Annual Reports 2017


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.

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© 2017 Copyright SAVIC Technologies Pvt. Ltd. All rights reserved . © 2017 Copyright SAVIC Technologies Pvt. Ltd. All rights reserved .


Annual Reports 2017


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


Annual Reports 2017


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


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