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Notes to Accounts of Brawn Biotech Ltd.

Mar 31, 2015

(A) CONTINGENT LIABILITIES NOT PROVIDED FOR

F.Y. 2014-15 F.Y. 2013-14

(i) Claims against the company not acknowledged as debts Nil Nil

(ii) Estimated amounts of contracts remaining to be executed on Capital Accounts and not provided for Nil Nil

(B) IN THE OPINION OF DIRECTORS

(i) The current assets and loans and advances are approximately of value stated if realized in the ordinary course of business except to the extent of impairment, if any.

(ii) The provision for all known liabilities is adequate and considered reasonable.

(C) Balances of Sundry Debtors, Creditors and other Advances are subject to confirmation/reconciliation and consequential adjustment if any arising there to shall be considered in due course of time.

(D) RETIREMENT BENEFITS

Liability for Gratuity and Leave encashment is being provided based upon the certificate of Actuarial at the end of the year. _____

(E) Segment Reporting (AS-17)

1- Primary Segment: The identification of Business segment is done in accordance with the system adopted for internal financial reporting to the board of directors and management structure. The company has identified products as primary segment.

2- Secondary Segment: The company had operated in one segment only.


Mar 31, 2014

(A) CONTINGENT LIABILITIES NOT PROVIDED FOR

F.Y. 2013-14 F.Y. 2012-13

(i) Claims against the company not Nil Nil acknowledged as debts

(ii) Estimated amounts of contracts Nil Nil

(B) IN THE OPINION OF DIRECTORS

(i) The current assets and loans and advances are approximately of value stated if realized in the ordinary course of business except to the extent of impairment, if any.

(ii) The provision for ail known liabilities is adequate and considered reasonable.

(C) Balances of Sundry Debtors, Creditors and other Advances are subject to confirmation/reconciliation , and consequential adjustment if any arising there to shall be considered in due course of time.

(D) RETIREMENT BENEFITS

Liability for Gratuity and Leave encashment is being provided based upon the certificate of Acturian at the end of the year.

(H) Related Party Disclosure

(a) Related party disclosures as required to by AS-18 are given below:

Companies/Firms in which Directors & their relative are interested:-

Name of Concern Relationship

M/s Brawn Laboratories Ltd. Associate Company by virtue of Common Directors

M/s OverseasLaboratories Pvt. Ltd. Associate Company by virtue, of Common Directors

M/s Delhi Pharma Associate firm by virtue of relative of Director is proprietor

M/s Fine Pharmachem Associate firm by virtue of relative of Director is proprietor

M/s South Delhi Medicos Associate firm by virtue of relative of Director is proprietor

M/s Sai Corporation Associate firm by virtue of relative of Director is proprietor Directors:

Mr. Brij Raj Gupta

Mrs. Brij Bala Gupta

Mrs. Urmila Gupta

Mr. Mahesh Kumar Nanchal

Mr. Manohar Lai

Mr. Trilok Singh

Relatives of Director:

Mr. A. K. Gupta

Mrs. Shashi Bala Gupta

Dr. Atul Gupta

Mr. Nitin Gupta

Mr. Love Gupta

Mr. Kush GuDta .

(I) Segment Reporting (AS-17)

1- Primary Segment: The identification of Business segment is done in accordance with the system adopted for internal financial reporting to the board of directors and management structure. The company has identified products as primary segment.

2- Secondary Segment: The company had operated in one segment only.

(M) Expenses on extraordinary items amounting to Rs.7762.72 Thousand (Rs. Nil) are related to the expiry of claim of the company on account of DEPB amounting to Rs.4140.00 Thousand and a sum of Rs.3622.72 Thousand on account ofexpiry&breakage claims ofthe third parties.

(N) Previous year''s figures have been regrouped/rearranged wherever necessary to make them comparable withcurrentyearfigures.

Voting rights of shareholders: As per article 76 of the Articles of Association of the Company,

a. on show of hands, every member present in person shall have one vote;

b. on a poll, the voting rights of the members shall be as laid down in section 87 of the Companies Act, 1956.


Mar 31, 2012

(A) CONTINGENT LIABILITIES NOT PROVIDED FOR

(i) Claims against the company not acknowledged as debts: Nil

(ii) Estimated amounts of contracts remaining to be executed on Capital Accounts and not provided for Nil (Previous Year Nil).

(B) IN THE OPINION OF DIRECTORS

(a) The current assets and loans and advances are approximately of value stated if realized in the ordinary course of business except to the extent of impairment, if any.

(b) The provision for all known liabilities is adequate and considered reasonable.

(C) Balances of Sundry Debtors, Creditors and other Advances are subject to confirmation/ reconciliation and consequential adjustment if any arising there to shall be considered in due course of time.

(D) RETIREMENT BENEFITS

Liability for Gratuity and Leave encashment is being provided based upon the certificate of Actuarial at the end of the year.

(E) Related Party Disclosure

(a) Related party disclosures as required to by AS-18 are given below:

Companies/Firms in which Directors & their relative are interested:-

Name of Concern

M/s Brawn Laboratories Ltd.

M/s Overseas Laboratories( P) Ltd.

M/s Delhi Pharma

M/s Fine Pharmachem

M/s South Delhi Medicos

Relationship

Associate Company by virtue of Common Directors

Associate Company by virtue of Common Directors

Associate firm by virtue of relative of Director is proprietor

Associate firm by virtue of relative of Director is proprietor

Associate firm by virtue of relative of Director is proprietor

Directors:

Mr. Brij Raj Gupta

Mrs.Brij Bala Gupta

Mrs. Urmila Gupta

Mr.Mahesh Kumar Nanchai

Mr. Manohar Lai

Mr. Bal Kishan Sharma

Relatives of Director:

Mr. A.K.Gupta

Mrs.Shashi Bala Gupta

Dr. Atul Gupta

Mr.NitinGupta

MrLoveGupta

Mr. Kush Gupta

(F) In view of the insufficient information from the suppliers regarding their status as SSI units, the amount due to small scale industrial undertaking can not be ascertained.

(G) The variation in profit shown in unaudited results/ published is due to provisions for retirement benefits as on date of 31st March 2012.

(H) Previous year''s figures have been regrouped/rearranged wherever necessary to make them comparable with current year figures.


Mar 31, 2011

(A) CONTINGENT LIABILITIES NOT PROVIDED FOR

(i) Claims against the company not acknowledged as debts: Nil

(ii) Estimated amounts of contracts remaining to be executed on Capital Accounts and not provided for Nil (Previous Year Nil)

(B) IN THE OPINION OF DIRECTORS

(a) The current assets and loans and advances are approximately of value stated if realized in the ordinary course of business except to the extent of impairment, if any.

(b) The provision for all known liabilities is adequate and considered reasonable.

(C) Balances of Sundry Debtors, Creditors and other Advances are subject to confirmation/reconciliation and consequential adjustment if any arising there to shall be considered in due course of time.

(D) RETIREMENT BENEFITS

Liability for Gratuity and leave encashment is being provided based upon the certificate of Acturian at the end of the year.

(E) Refer Schedule -7, The Company has recognized recoverable claim of Rs.41.40 Lac (Rs.41.40 Lac), arised on account of custom duty credit on export sales. These claims are recoverable subject to receipt of export payments, which are overdue and under litigation. The management considered these debtors as good and hence no provision is considered necessary.

(I) Related Party Disclosure

(a) Related party disclosures as required to by AS -18 are given below:

Companies/Firms in which Directors & their relative are interested:

Name of Concern Relationship

M/S Brawn Laboratories Ltd. Associate Company by virtue of Common Directors

M/S Overseas Laboratories (P) Ltd. Associate Company by virtue of Common Directors

M/S Delhi Pharma Associate firm by virtue of relative of Director is proprietor

M/S Fine Pharmachem Associate firm by virtue of relative of Director is proprietor

Directors:

Mr. Brij Raj Gupta

Mrs. Brij Bala Gupta

Mrs. Urmila Gupta

Mr. Mahesh Kumar Nanchal

Mr. Manohar Lal

Mr. Bal Kishan Sharma

Relatives of Director:

Mr. A.K.Gupta

Mrs.Shashi Bala Gupta

Dr. Atul Gupta

Mr. Nitin Gupta

Mr. Love Gupta

Mr. Kush Gupta

(J) Segment Reporting (AS-17)

1. Primary Segment: The identification of Business segment is done in accordance with the system adopted for internal financial reporting to the board of directors and management structure. The company has identified products as primary segment.

(L) There is no amount remaining unpaid to Small Scale Suppliers within the meaning of "The interest on Delayed Payments to Small Scale and Ancillary Undertaking Act".

(M) Additional information pursuant to provisions of paragraph 3 & 4 of part (ii) schedule (vi) to the Companies Act, 1956 (As certified by the management and accepted by the auditors).

(a) The Company had no manufacturing activities during the year. The company got its products manufactured from other parties and hence the information regarding installed capacity is not given.

(N) The variation in profit shown in unaudited results/ published is due to reversal of VAT recoveries and provisions for retiremental benefits as on date of 31st March 2011.

(P) Previous year's figures have been regrouped/rearranged whenever necessary to make them comparable with current year figures.


Mar 31, 2010

(A) CONTINGENT LIABILITIES NOT PROVIDED FOR

(i) Claims against the company not acknowledged as debts: Nil

(ii) Estimated amounts of contracts remaining to be executed on Capital Accounts and not provided for Nil(Previous Year Nil)

(B) IN THE OPINION OF DIRECTORS

(a) The current assets and loans and advances are approximately of value stated if realized in the ordinary course of business except to the extent of impairment, if any.

(b) The provision for all known liabilities is adequate and considered reasonable.

(C) Balances of Sundry Debtors, Creditors and other Advances are subject to confirmation/reconciliation and consequential adjustment if any arising there to shall be considered in due course of time.

(D) RETIREMENT BENEFITS

Liability for Gratuity is being provided based upon the certificate of Acturian at the end of the year.

(E) Refer Schedule -7, The Company has recognized recoverable claim of Rs.41.40 Lac (Rs.41.40 Lac), arised on account of custom duty credit on export sales. These claims are recoverable subject to receipt of export payments, which are overdue and under litigation. The management considered these debtors as good and hence no provision is considered necessary.

(F) Related Party Disclosure

(a) Related party disclosures as required to by AS-18 are given below:

Companies/Firms in which Directors & their relative are interested:-

M/S Brawn Laboratories Ltd.

M/S A.B.Pharma (P) Ltd.

M/S Overseas Laboratories (P) Ltd.

M/S Delhi Pharma

M/S Fine Pharmachem



Directors:

Mr. Brij Raj Gupta

Mrs. Brij Bala Gupta

Mrs. Urmila Gupta

Mr. Mahesh Kumar Nanchal

Mr. Manohar Lal

Mr. Bal Kishan Sharma



Relatives of Director :

Mr. A.K.Gupta

Mrs. Shashi Bala Gupta

Dr. Atul Gupta

Mr. Nitin Gupta

Mr. Love Gupta

Mr. Kush Gupta

Transactions with related party:

S.No. Name of Company/Firm Nature of transaction Amount

1. M/s Brawn Laboratories Ltd. Purchases Rs.81.63 Lac

2. M/s Brawn Laboratories Ltd. Commission Received Rs.3.94 Lac

3. M/s Brawn Laboratories Ltd. Discount Income Rs.18.85 Lac

4. M/s Brawn Laboratories Ltd. Consultancy Fee Rs.7.50 Lac

5. M/s Delhi Pharma Sales Rs.0.90 Lac

(G) There is no amount remaining unpaid to Small Scale Suppliers within the meaning of "The interest on Delayed Payments to Small Scale and Ancillary Undertaking Act".

(H) Additional information pursuant to provisions of paragraph 3 & 4 of part (ii) schedule (vi) to the Companies Act, 1956 (As certified by the management and accepted by the auditors).

(a) The Company had no manufacturing activities during the year. The company got its products manufactured from other parties on loan licenses basis and hence the information regarding installed capacity is not given.

(I) Previous years figures have been regrouped/rearranged wherever necessary to make them comparable with current year figures.

 
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