SAKSOFT Notes to Accounts

Note 1: Additional notes a. Contingent Liabilities

As at As at
March 31,2015 March 31,2014

1. Income-tax matters 36.15 27.97

2. Service-tax matters 32.61 32.61

3. Guarantee given to Banks to
facilitate Credit to Subsidiary Company 125.06 -

The future cash outflows on items 1 & 2 above are determinable only on
receipt of the decision or judgment that is pending at various forums
and authorities. The company does not expect the outcome of these
proceedings to have an adverse material effect on the financial
results.

e. Related party disclosures

Enterprises in which key management personnel exercise significant
influence :

Sak Industries Private Limited

Sak Industries Inc

Sak Abrasives Inc

Sakserve Private Limited

Saksoft Employees Welfare Trust

Saksoft Employees Gratuity Trust

Sonnet Trade & Investments Private Limited.

Sak Industries Pte Ltd

Subsidiaries and step down subsidiaries and Joint Venture :

Saksoft Inc, USA

Saksoft Pte Ltd, Singapore

Saksoft GmbH, Germany

Saksoft Solutions Limited, UK

Acuma Solutions Limited, UK

Acuma Software Limited, UK

Electronic Data Professionals Inc, USA

Saksoft FR SARL, France

ThreeSixtyLogica Testing Services Pvt Ltd, India

ThreeSixtyLogica Testing Services Inc, USA

Key management personnel :

Mr Aditya Krishna - Managing Director

Mr Niraj Kumar Ganeriwal-CFO

Mr Narayan S-Company Secretary(Resigned on 4th Nov 2014)

Mr Vivekanandan Babu- Company Secretary

Relatives of Key Managerial Personnel :

Ms Kanika Krishna - Director

Ms Avantika Krishna - Employee

h. Employee Stock option plans (''ESOP'')

ESOP 2006 Plan

The ESOP 2006 Plan was introduced by the Company in 2006 under which
the Company grants options from time to time to employees of the
Company and its subsidiaries. This Plan was approved by the Board of
Directors in January 2006 and by the shareholders in February 2006. The
Plan issued in accordance with Securities and Exchange Board of India
(Employee Stock Option Scheme and Employee Stock Purchase Scheme)
Guidelines, 1999, is administered by the Saksoft Employees Welfare
Trust (''the Trust) through the compensation committee. The Trust
purchased the shares of the Company using the proceeds of loans
obtained from the Company and administers the allotment of shares to
employees and other related matters. The eligible employees exercise
the options under the terms of the Plan at an exercise price, which
equals the fair value on the date of the grant, until which the shares
are held by the Trust.

The Company has allotted 582,460 equity shares of H10 each to the Trust
to give effect to the ESOP Plan. As at the balance sheet date, the
employees have exercised 27,500 options under this Plan and accordingly
554,960 equity shares of H10 each represent shares held by the Trust.
During the year no options have been granted under this plan.

The details of options granted under this ESOP 2006 plan are:

ESOP 2009 Plan

The ESOP 2009 Plan was introduced by the Company in 2009 under which
the Company grants options from time to time to employees of the
Company and its subsidiaries. This Plan issued in accordance with the
Securities and Exchange Board of India (Employee Stock Option Scheme
and Employee Stock Purchase Scheme) Guidelines, 1999 received the
consent of the shareholders in December 2009. Further the scheme was
amended at the AGM held on 26th September 20l4to increase the exercise
period from 5 to 10 years.

The plan considers an aggregate of 1,000,000 options to be vested and
exercised in accordance with the ESOP 2009 plan as approved by the
Nomination and Remuneration Committee. The outstanding options
available for exercise under the ESOP 2009 as on 31st March 2015 is
250,000 options.

During the year the Board of Directors have allotted 125,000 equity
shares consequent to the exercise of options by certain eligible
employees of the Company who were granted options on 3rd December 2010
at grant price of Rs.44.25 per option under ESOP 2009
plan. Subsequent to the exercise, the listing and trading approval was
obtained from National Stock Exchange on 24th July 2014 for 95,000
shares and 24th December 2014 for 30,000 shares. The paid up share
capital of the Company after allotment of 125,000 equity shares stands
at 10,360,000 Equity Shares as of 31st March 2015

Apart from the above allotment, during the year the Nomination and
Remuneration Committee has granted to eligible employees of Saksoft
Limited & Subsidiary 50,000 options on 8th July 2014 at a grant price
of Rs.93/- and 100,000 options on 26th September 2014 at a grant price
of Rs. 138.70/-.

The details of the ESOP 2009 Plan are:

Notes forming part of the Financial Statements for the year ended 31
March 2015

(All amounts are in Indian rupees millions, except share data and as
otherwise stated)

j. Dues to Micro and small enterprises

The Company has initiated the process of obtaining confirmation from
suppliers who have registered under the Micro, Small and Medium
Enterprises Development Act, 2006. Based on the information available
with the company there is no amount outstanding as on 31.03.2015.
There are no overdue principle amounts and therefore no interest is
paid or payable.

k. The company has adopted useful lives of fixed assets in line with
the Companies Act 2013 with effect from 1st April 2014 for providing
depreciation. The depreciation for the year ended is higher by Rs.0.77
million respectively with consequential effect on Profit Before Tax by
this amount. The amount of depreciation charged to retained earnings is
Rs.0.49 million.

l. Prior year figures have been regrouped, wherever necessary to
conform to the current year''s classification.

CIN: U67190WB2003PTC096617. Trading in Commodities is done through our Group Company Dynamic Commodities Pvt. Ltd. The company is also engaged in Proprietory Trading apart from Client Business.
“2019 © COPYRIGHT DYNAMIC EQUITIES PVT. LTD.”

Disclaimer: There is no guarantee of profits or no exceptions from losses. The investment advice provided are solely the personal views of the research team. You are advised to rely on your own judgment while making investment / Trading decisions. Past performance is not an indicator of future returns. Investment is subject to market risks. You should read and understand the Risk Disclosure Documents before trading/Investing.

Disclosure: We, Dynamic Equities Private Limited are also engaged in Proprietory Trading apart from Client Business. In case of any complaints/grievances, clients may write to us at compliance@dynamiclevels.com

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