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Notes to Accounts of Adinath Bio-Labs Ltd.

Mar 31, 2015

1. Terms / rights attached to Equity shares

The Company has only one class of equity shares having a par value of Re. 1 /- per share. Each equity shareholder is entitled to one vote per share. The Company have not declared any dividends for the year under review.

In the event of liquidation of the Company, the holders of the equity shares will be entitled to receive the remaining assets of the company , after distribution of all preferential amounts. The distribution will be in proportion to the numbers of equity shares held by the share holders.

2. In the Opinion of the Board, all the current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the amount stated in the Balance Sheet and all the know liabilities have been provided for.

3. Certain Debit and Credit Balances are being subject to confirmation.

4. The Company has shown the units of Mutual Fund "Arihant Mangal "(Growth Scheme) under the head "Non Current Trade Investments". Due to the Order of Hon'ble High Court, Bombay, Mutual Fund "Arihant Manga "(Growth Scheme) was kept in abeyance. In this context, after the lapse of many years, the Hon'ble Higt Court, Delhi, passed the Order dtd. 29/05/2013, wherein they have directed to dispose off the Mutual Fund "Arihant Mangal"(Growth Scheme) in terms of the SEBI regulations in full and final settlement. Accordingly the Company has surrendered its units for redemption before the Special Committee constituted by Hon'ble High Court, Delhi and payment to be received under its provisional NAV.

5. The figures appearing in the Financial Statements have been rounded off to nearest rupee.

6. Previous year's figures have been regrouped/ reclassified wherever necessary to correspond with the curren year's classification /disclosure.


Mar 31, 2014

1. During the financial year 2013-14, there are not any transactions with any suppliers / parties who are covered under ''The Micro Small and Medium Enterprises Development Act, 2006''.

2. Related Party Disclosures

There is no other company, which is under the same management in which the directors of the company are entrusted as directors and / or shareholders. There is no transaction with any firm and / or proprietor firm in which the directors of the company are interested as a partners or proprietor.

3. Key Management Personnel:

The Key management personnel are the Whole Time Director and Company Secretary Cum Compliance officer, whose names are mentioned in the corporate governance report.

4. There are not any particulars which are required to be furnished pursuant to Clause VIII of part II of the Schedule VI of the Companies Act, 1956.

5. In compliance with the Accounting Standard AS-22 relating to "Accounting for Taxes on Income" issued by the Institute of Chartered Accountants of India, the company had provided for Deferred tax liability arising out of timing difference. During the year under report, there has been reversal of the said deferred tax liability to the extent of Rs.187,228/-(P.Y Rs.129, 536), on account of difference between Book and Tax Depreciation. Accordingly, the said item has been credited to Statement of Profit & Loss of the year under report.

6. The Company has two reportable business segments i.e. Trading of Products & Commodities and IT Activities. The Company operates mainly in Indian market and there are no reportable geographical segments.

7. Earning Per Share:

Earnings per share are calculated by dividing the profit attributable to the equity shareholders by the number of equity shares outstanding during the year, as under:

8. In the Opinion of the Board, all the current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the amount stated in the Balance Sheet and all the known liabilities have been provided for.

9. Certain Debit and Credit Balances are being subject to confirmation.

10. During the year , the Company has shown the units of Mutual Fund "Arihant Mangal "(Growth Scheme), in its Non-Current Trade Investments , after the lapse of several years due to Mutual Fund "Arihant Mangal "(Growth Scheme) was kept abeyance by the Order of Hon''ble High Court , Bombay.In this context, the Hon''ble High Court , Delhi , passed the Order dtd 29/05/2013, where in they have directed that the Mutual Fund "Arihant Mangal "(Growth Scheme) was reconsidered to dispose off the Mutual Fund "Arihant Mangal "(Growth Scheme) in terms of the SEBI regulations in full and final settlement through methodological basis.In view of the above facts , the Board have taken steps to recover the proceedings against dispose of units of Mutual Fund "Arihant Mangal "(Growth Scheme).

11. The figures appearing in the Financial Statements have been rounded off to nearest rupee.

12. Previous year''s figures have been regrouped/ reclassified wherever necessary to correspond with the current year''s classification /disclosure.


Mar 31, 2013

1. Related Party Disclosures

There is no other company, which is under the same management in which the directors of the company are entrusted as directors and / or shareholders. There is no transaction with any firm and / or proprietor firm in which the directors of the company are interested as a partners or proprietor.

2. Key Management Personnel:

The Key management personnel are the directors, whose names are mentioned in the corporate governance report.

3. The Company is selling alongwith Agricultural /Pharma & Chemical Products, Software in domestic markets. Out of many software projects under development at the commencement of the financial year, the company has completed some projects and sold / delivered the same, the cost and revenue of which has been taken to the statement of profit and loss account. Since the revenue generation begins after the completion of the software projects / products, the company is of the view that development expenditure on the unfinished / uncompleted software should be treated as part of inventory as ''Software Projects under Development'' and included in Work in progress.

4. There are not any particulars which are required to be furnished pursuant to Clause VIII of part II of the Schedule VI of the Companies Act, 1956.

5. In compliance with the Accounting Standard AS-22 relating to “Accounting for Taxes on Income” issued by the Institute of Chartered Accountants of India, the company had provided for Deferred tax liability arising out of timing difference. During the year under report, there has been Addition to the said deferred tax liability to the extent of Rs.1,29,536/- (P.Y Rs. 2,22,728/-), on account of difference between Book and Tax Depreciation accordingly, the said item has been debited/ credited to Statement of Profit & Loss of the year under report.

6. The Company has two reportable business segments (i) Trading of Products and Commodities (Agricultural, Pharma and Chemicals) and involved in IT activities. The Company operates mainly in Indian market and there are no reportable geographical segments.

7. Earning Per Share:

Earnings per share are calculated by dividing the profit attributable to the equity shareholders by the number of equity shares outstanding during the year, as under:

8. In the Opinion of the Board, all the current assets, loans and advances have a value on realization in the ordinary course of business at least equal to the amount stated in the Balance Sheet and all the known liabilities have been provided for.

9. Certain Debit and Credit Balances are being subject to confirmation.

10. The figures appearing in the Financial Statements have been rounded off to nearest rupee.

11. The Revised Schedule VI has become effective from 1st April, 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Previous year''s figures have been regrouped / reclassified wherever necessary to correspond with the current year''s classification / disclosure.

 
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