Nettlinx Limited is a Category B licensed ISP, with operations in
Andhra Pradesh started in 1999. Currently Nettlinx has its operations
across major cities in Andhra Pradesh.
Nettlinx Limited provides a portfolio of high quality Internet
solutions for data voice and security, to cater to the corporate
customer needs. Leveraging its technological and Regional presence,
Nettlinx is able to bring value and strong support to the customers.
Nettlinx has strategic and long lasting relationships with major
Telecom Operators in India.
The company is backed by over 14 years of experience, not to mention an
uncompromising standard in the provision of best-in-class products and
uninterrupted services. The company delivers maximum uptime, expertise
and specialist knowledge to assist both individuals and businesses in
harnessing the benefits of Internet technology for real business
(a) Terms/rights attached to Equity Shares
The Company has only one class of Equity shares having a par value of
Rs.10/- each. Each holder of equity shares is entitled to one vote per
(b) Details of share holders holding more than 5% of equity shares in
Terms and Conditions of Short Term Borrowings
i) Term Loan from Bank is repayable in three equitable quarterly
installments from March 31, 2012 and carries a floating rate of
interest of @ 15.75% . Term loan and CC is secured jointly by Equitable
mortgage of immovable property, Flat No.301, 3rd Floor, My Home Sarovar
Plaza, Hyderabad and Equitable Mortagage on Immovable Property, Survey
No.23, Gachibowli, RR District, admeasuring 3630 Sq. Yards of its
subsidary Nettlinx Realty Private Limited.
Since, the Appeal is pending before the Honourable High Court of A.P.,
in respect of Income Tax for the Assessment years 1996-97 and 1997-98
of Northeast Spinners Limited, a company in existence prior to
amalgamation with Nettlinx Limited, the balance lying in TDS Adjustment
account Rs..28,62,989/- is shown in Advance Taxes.
Long Term Trade Receivables include amount receivable from Integrated
Broadcasting Pvt Ltd, the company was issued legal notice for not
paying outstanding debt amounting to Rs.65,98,028/ - as at 30th June,
2011.Legal proceedings for winding up of the company U/s.433(a) of the
Companies Act 1956 is initiated by filing a petition in the High Court
Judicature of Andhra Pradesh. The court decision is not finalized till
2 Contingent Liabilities and Commitments
As at 31st
March, 2012 As at 31st
Contingent Liabilities :
Provisional License fee Assessment 43,30,195 1,07,31,323
Commitments : - -
Company has received Revised provisional license fee assessment notice
from Department of Telecommunications-AP circle for the years 2005-06,
2006-07,2007-08and 2008-09 w.r.t ISP(IT) License for Rs.43,30,195/- which
is disclosed as contingent liability for the year ended 31st March
2012.However the management feels that even this demand is not tenable
and hence liability is not provided in the books of accounts.
3 In line with revised Schedule VI, figures for the previous year have
been regrouped, recast and rearranged to wherever necessary.