Tera Software Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2023

1 The above financial results for the quarter ended 31st March, 2023 have been reviewed by the Audit Committee and were approved by the Board of Directors of the Company at the meeting held on 27th May, 2023
2 This statement is as per regulation 33 of the SEBI (Listing obligations and disclosure Requirements) Regulations, 2015. These financials results of the Company were prepared in accordance with the Indian Accounting Standards prescribed under section 133 of the Companies Act, 2013 ("the act") read with relevant rules issued there under ("Ind AS") and other accounting principles generally accepted in India and guidelines issued by the Securities and Exchange Boardof India ("SEBI").
3 Bank guarantee invoked by “Andhra Pradesh State Fibernet limited" of Rs.4.28 Crores. The said action was challenged by the company before the division bench of Andhra Pradesh High Court, Amaravathi, which is pending. Based on the legal opinion given by the counsel, the company has not made any provision in its books of accounts.
4 The company sold part of its Land measurimg 22634 Sq yards situated at Annaram village, Gummadidala Mandal, Sangareddy District, Telangana, India for an amount of Rs. 21,95,50,000/- and the amount has been received during the Year.
5 During the quarter, the company has written off outstanding receivables as Bad debts amounting to Rs. 678.98 lakhs
6 During the quarter, the company treated the outstanding payables/creditors as credit balances written back, which are back to back liabilities on the Bad debts written off.
7 Orders issued by GST Department: Disputed GST Liability for Rs. 91.29 Lakhs between GSTR 3B Vs 2B during the period from Sept-2019 to March-2020 including interest for which Company decided to file appeals/Writ-petitions before Appellate Joint Commissioner(ST), Tirupathi/Honorable High Court of Andhra Pradesh, Amaravathi.
8 Orders issued by Assistant Commissioner of Central Tax and Central Excise, Amaravathi CGST Divisional Office, Vijayawada: Disputed Transitional Credit including interest and Penalty of Rs. 141.67 Lakhs for which Company decided to file an appeal before Joint/Additional Commissioner of Central Tax (Appeals), Guntur, Andhra Pradesh.
9 Corresponding quarter/Year figures have been re-grouped /re-classified wherever necessary to confirm to the classification of the current period.
10 The figures of the last quarter are the balancing figures between Audited figures in respect of the full financial year
and published year to date figures up to the third quarter of the relevant financial years, which were subjected to limited review by the statutory Auditors.