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Notes to Accounts of Caplin Point Laboratories Ltd.

Mar 31, 2016

NOTE 1. CAPITAL COMMITMENT

The estimated amount of unexecuted capital contracts (net of advances and deposits) - Rs. 307.67 Lakhs (Previous Year - Rs. 358.73 Lakhs) NOTE 29 CONTINGENT LIABILITIES (TO THE EXTENT NOT PROVIDED FOR)

a) Outstanding Bank Guarantee given to the Customs department and others Rs.20.00 Lakhs (Previous Year - Rs. 76.82 Lakhs)

b) Outstanding Letters of Credit: Rs.11.73 lakhs (Previous Year - Rs. 287.97 lakhs)

NOTE 2. DUES TO MICRO, SMALL AND MEDIUM ENTERPRISES

The Company has not received information from Vendors regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 and hence disclosure relating to amount unpaid as at the 9 Months Period and Financial Year end together with Interest Paid / Payable under this Act have not been given.

NOTE 3. BALANCES WITH SCHEDULED BANKS IN DEPOSIT ACCOUNTS INCLUDES:

(a) Other Bank balances for the current year include Rs.81.09 lakhs earmarked as lien towards Margin for letter of Credit and Bank Guarantee. (Pr. Yr. Rs. 107.66 Lakhs)

(b) Retention deposit under lien towards pre shipment credit - Rs. 134.67 Lakhs (Previous year - Rs. 126.40 Lakhs)

NOTE 4.

The Company had revalued the land, where the factory/office building is situated, during the period ended June 30, 2008 to the extent of Rs. 439.36 Lakhs and the gain on the revaluation of land to the extent of Rs. 373.38 Lakhs was credited to the Revaluation Reserve.

NOTE 5. OPERATING LEASES

The Company has entered into cancellable lease agreements for office facilities. Lease Payments recognised in the Statement of Profit & Loss for the 9 Months Period and Financial Year Rs. 64.19 Lakhs. (Previous year Rs.109.24 Lakhs). The company has not entered into any non cancellable operating and finance leases.

NOTE 6.

Total Share Capital of Argus Salud Pharma LLP is Rs. 99.10 Lakhs (Rs. 99.10 Lakhs) out of which 99.9% of shares is held by the Company and 0.10% is held by May India Property Private Limited and their profit sharing ratio is 99.90% and 0.10% respectively. (Previous year 99.90% and 0.10% respectively).

NOTE 7. EARNINGS IN FOREIGN EXCHANGE (ON ACCRUAL BASIS)

FOB Value of Exports - Rs. 21580.53 Lakhs. (Previous Year - Rs. 22016.90 Lakhs)

NOTE 8. AMOUNT DUE TO INVESTOR EDUCATION AND PROTECTION FUND

There are no amounts due and outstanding to be credited to investor education and protection fund as of end of the 9 Months Period and Financial Year,

NOTE 9.

The Company''s factory unit at Baddi in Himachal Pradesh is entitled for exemption under section 80IC of the Income Tax Act and also from Central Excise and Salt Act from the date of commencement of production (24-09-2005).

NOTE 10

The Company operates in one segment only viz., pharmaceuticals formulations.

NOTE 11.

During the previous year ended June 30, 2015 depreciation of Rs.48.87 (net of deferred tax impact) had been adjusted to the opening balance of surplus in the Statement of profit and loss as at July 1, 2014, with corresponding adjustment to net book value of fixed assets, in accordance with the transitional provisions of Schedule II of the Act.

NOTE 12.

Figures for the current financial year are for the 9 months period ended 31st March 2016 as against the 12 months period for the previous financial year ended 30th June 2015 and hence figures are not comparable.

NOTE 13.

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


Jun 30, 2015

NOTE 1 CAPITAL COMMITMENT

The estimated amount of unexecuted capital contracts (net of advances and deposits) – Rs.358.73 Lakhs (Previous Year – Rs.1239.93 Lakhs)

NOTE 2 CONTINGENT LIABILITIES (TO THE EXTENT NOT PROVIDED FOR)

a) Outstanding Bank Guarantee given to the Customs department and others Rs.76.82 Lakhs (Previous Year - Rs.36.56 Lakhs)

b) Outstanding Letters of Credit: Rs.287.97 lakhs (Previous Year – Rs.438.29 lakhs)

NOTE 3 DUES TO MICRO, SMALL AND MEDIUM ENTERPRISES

The Company has not received information from Vendors regarding their status under the Micro, Small and Medium Enterprises Development Act 2006 and hence disclosure relating to amount unpaid as at the year end together with Interest Paid / Payable under this Act have not been given.

NOTE 4 BALANCES WITH SCHEDULED BANKS IN DEPOSIT ACCOUNTS INCLUDES:

(a) Other Bank balances for the current year include Rs.107.66 lakhs earmarked as lien towards Margin for letter of Credit and Bank Guarantee.( Pr. Yr. Rs.107.66 Lakhs)

(b) Retention deposit under lien towards pre shipment credit – Rs.126.40 Lakhs (Previous year – Rs.62.16 Lakhs)

NOTE 5 BALANCE WITH NON SCHEDULED BANKS

Details of balances kept with non-scheduled banks as on balance sheet dates and the maximum balances kept with non-scheduled banks during the year are as follows:

NOTE 6

The Company had revalued the land, where the factory/office building is situated, during the period ended June 30, 2008 to the extent of Rs.439.36 Lakhs and the gain on the revaluation of land to the extent of Rs.373.38 Lakhs was credited to the Revaluation Reserve.

NOTE 7 EMPLOYEE BENEFITS

The following table sets out the status of the gratuity plan as required under AS15 and reconciliation of opening and closing balances of the present value of defined benefit obligation;

NOTE 8 OPERATING LEASES

The Company has entered into cancellable lease agreements for office facilities. Lease Payments recognised in the Statement of Profit & Loss for the year Rs.109.24 Lakhs. (Previous year Rs.93.38 Lakhs). The company has not entered into any non cancellable operating and finance leases.

NOTE 9

Total Share Capital of Argus Salud Pharma LLP is Rs.99.10 Lakhs (Rs.10 Lakhs) out of which 99.9% of shares is held by the Company and 0.10% is held by May India Property Private Limited and their profit sharing ratio is 99.9% and 0.10% respectively.(Previous year 99% and 1% respectively).

NOTE 10 EARNINGS IN FOREIGN EXCHANGE (ON ACCRUAL BASIS)

FOB Value of Exports – Rs.22016.90 Lakhs. (Previous Year – Rs.15101.57 Lakhs)

NOTE 11 AMOUNT DUE TO INVESTOR EDUCATION AND PROTECTION FUND

There are no amounts due and outstanding to be credited to investor education and protection fund as of end of the year.

NOTE 12 DISCLOSURE IN ACCORDANCE WITH THE ACCOUNTING STANDARD 18 – "RELATED PARTY DISCLOSURES" ISSUED BY THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA.

(a) Related parties and nature of relationship

Mr. Vivek Siddharth, – Relative of Chairman

Argus Salud Pharma LLP – Related Entity

(b) Key management personnel

Dr. Sridhar Ganesan – Managing Director from 28.03.2015 (Whole Time Director from 25.08.2014)

Mr. M Jayapal – Whole Time Director from 28.03.2015 (Managing Director till 27.03.2015)

Mr. D.P.Mishra – Whole Time Director

Mr. S. Mohanraj – Chief Financial Officer & Company Secretary upto 13.02.2015

Mr.Harihara Ponnambalam P – Chief Financial Officer from 06.05.2015

Mr. Vinod Kumar S – Company Secretary from 13.04.2015

NOTE 13

The Company's factory unit at Baddi in Himachal Pradesh is entitled for exemption under section 80IC of the Income Tax Act and also from Central Excise and Salt Act from the date of commencement of production (24-09-2005).

NOTE 14

The Company operates in one segment only viz., Pharmaceuticals formulations.

NOTE 15

With effect from April 1, 2014, pursuant to the requirement of Companies Act, 2013(the 'Act'), the company has revised the useful life of its fixed assets, as specified in Schedule II of the Act, based on technical evaluation. As a result of this change,the depreciation charge is higher by Rs.127.11 lakhs for the year ended June 30, 2015. In respect of assets whose useful life is already exhausted as on July 1, 2014, depreciation impact on such assets has been adjusted in the Reserves and Surplus in accordance with the requirements of Schedule II of the Act

NOTE 16

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


Jun 30, 2014

1. Rights, preference & restrictions attached to shares Equity Shares

The Company has only one class of equity shares having a par value of 10/- per share. Each shareholder is eligible for one Vote per Share. The Dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting except in the case of interim Dividend

In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company, after distribution of all preferential amounts, in proportion to their shareholding

I) Packing Credit and Other short term borrowings are secured by first charge on Buildings of the Company and hypothecation of Stock in Trade, Receivables, lien on deposits of the Company with the Bank. In addition to the above, the loans are also secured by second charge on Plant and Machineries of the Company, present & future in addition to the personal guarantee by the promoter and few shareholders of the Company.

2. Capital Commitment

The estimated amount of unexecuted capital contracts (net of advances and deposits) - Rs. 1239.93 Lakhs (Previous Year - Rs 1964.85 Lakhs)

3. Contingent Liabilities

a) Outstanding Bank Guarantee given to the Customs department and others Rs. 36.56 Lakhs (Previous Year - Rs. 21.05 Lakhs)

b) Outstanding Letters of Credit: Rs.438.29 lakhs (Previous Year - Nil)

4. Dues to Micro, Small and Medium Enterprises

The Company has not received information from Vendors regarding their status under the Micro, Small and Medium Enterprises Development Act 2006 and hence disclosure relating to amount unpaid as at the year end together with Interest Paid / Payable under this Act have not been given.

5. Balances with Scheduled banks in deposit accounts includes:

(a) Other Bank balances for the current year include Rs. 107.66 lakhs earmarked as lien towards Margin for letter of Credit and Bank Guarantee. (Pr.Yr. Rs. 100 Lakhs)

(b) Retention deposit under lien towards pre shipment credit - Rs. 62.16 Lakhs (Previous year - Rs. 127.20 Lakhs)

6. Amount Due to Investor Education and Protection fund

There are no amounts due and outstanding to be credited to investor education and protection fund.

7. Disclosure In accordance with the Accounting Standard 18 - "Related Party Disclosures" Issued by the Institute of Chartered Accountants of India as identified by the company and relied upon by the auditors.

(a) Related parties and nature of relationship

Mr. Vivek Siddharth, - Relative of Chairman

Argus Salud Pharma LLP - Related Entity

(b) Key management personnel

Mr. M. Jayapal - Managing Director

Mr. D. P. Mishra - Whole Tine Director

Mr. Vivek Siddharth, - Chief Operating Officer

Mr. S. Mohanraj - Chief Financial Officer & Company Secretary


Jun 30, 2013

1 Capital Commitment

The estimated amount o! unexecuted capita! contracts (net of advances and deposits) Ks. 1964.85 I akhs (Previous Year ~ Ks. 2Hl«.t.2 I.aklis)

2 Contingent Liabilities

a ) Outstanding Bank Guarantee given io the Customs department and others Rs. 2!.05 lakhs (Previous Year Rs. 21.55 lakhs)

b) Outstanding Letters of Credit: Nil (Previous Year Rs.1S9.9l lakhs) c ) Disputed statutory dues:

3 Dues to Micro, Small and Medium Enterprises the Companv has not received information from Vendors regarding their status under the Micro, Small and Medium Pnterprises Development Act 200o ,md hence disclosure relating to amount unpaid as at the vear end together with Interest Paid / Payable under this Act have not been given

4) Balances with Scheduled banks in deposit accounts includes:

(a) Other Hank balances tor the current vear include Rs. IttO lakhs earmarked as lien towards Margin tor letter of

Credit and Bank Guarantee. (Previous Year Rs.92.70 lakhs) (c) Retention deposit under lien Inwards pre shipment credit Rs. 127,211 lakhs (Previous year Rs. 1 (22.95 I .akhs).

5 The Companv had revalued the land, where the factory/office building is situated, during the period ended 30th lune 200H to the extent oi Rs. 4».3h l.akhs and the gain on the revaluation of land to the evlent of Rs, 373.38 ( akhs was credited to the Revaluation Reserve.

6 Operating Leases

The Company has entered into cancellable lease agreements for office facilities. Lease Payments recognised in the Profit and Loss Account for the year Rs. 56.78 Lakhs. (Previous Year Rs. 46.19 Lakhs). The Company has not entered into any non cancellable operating and finance leases.

7 Earnings in Foreign Exchange (On Accrual basis)

FOB Value of Exports Rs in Lakhs. 108 46.63 (Previous Year Rs. in Lakhs 8973.82)

8 The Company''s factory unit at; BaUrfi in Himachal Pradesh is entitled for exemption under section 801C of the Income Tax Act and also from Central Excise an
9 The Company operates in one segment only viz., pharmaceutical formulations.

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


Jun 30, 2012

A) Rights, preference & restrictions attached to shares Equity Shares

The Company has only one class of equity shares having a par value of Rs. 10/- per share. Each shareholder is eligible for one Vote per Share.

The Dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting except in the case of interim Dividend

In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the company, after distribution of all preferential amounts, in proportion of their shareholding

1. Capital Commitment

The estimated amount of unexecuted capital contracts (net of advances and deposits) - Rs. 2818.62 Lakhs (Previous Year - Rs. 1282.84 Lakhs)

2. Contingent Liabilities

(a) Outstanding Bank Guarantee given to the Customs department and others Rs. 21.55 Lakhs (Previous Year - Rs. 8.35 Lakhs)

(b) Outstanding Letters of Credit Rs. 189.91 Lakhs (Previous Year - 63.62 Lakhs)

(c) Disputed statutory dues:

3. Dues to Micro, Small and Medium Enterprises

The Company has not received information from Vendors regarding their status under the Micro, Small and Medium Enterprises Development Act 2006 and hence disclosure relating to amount unpaid as at the year end together with Interest Paid / Payable under this Act have not been given.

4. Balances with Scheduled banks in deposit accounts includes:

(a) Deposits under lien towards Bank Guarantee - Rs in Lakhs. 3.35- (Previous Year - 3.48)

(b) Margin on Letters of Credits outstanding - Rs. In Lakhs 89.35 (Previous Year 121.67)

(c) Retention deposit under lien towards pre shipment credit - Rs. In Lakhs 1122.95 (Previous year - 1056.56).

5. The Company had revalued the land, where the factory/office building is situated, during the period ended 30"' June 2008 to the extent of Rs in Lakhs. 439.36 and the gain on the revaluation of land to the extent of Rs.in Lakhs 373.38 was credited to the Revaluation Reserve.

6. Total Share Capital of Argus Salud Pharma LLP is Rs. 10.00 Lakhs out of which 99% of shares is eld by the Company and 1% is held by May India Property Private Limited

7. Earnings in Foreign Exchange (On Accrual basis)

FOB Value of Exports - Rs in Lakhs. 8973.82 (Previous Year - Rs. in Lakhs - 6952.99)

8. Amount Due to Investor Education and Protection fund

There are no amounts due and outstanding to be credited to investor education and protection fund.

9. Disclosure in accordance with the Accounting Standard 18 - "Related Party Disclosures" issued by the Institute of Chartered Accountants of India as identified by the company and relied upon by the auditors.

(a) Related parties and nature of relationship

- Mr. Vivek Siddharth, relative of Chairman - Argus Salud Pharma LLP - Related Entity

(b) Key management personnel

- Mr. M Jayapal - Managing Director - Mr. D. P. Mishra - Whole Time Director

10. The Company's factory unit at Baddi in Himachal Pradesh is entitled for exemption under section 80IC of the Income Tax Act and also from Central Excise and Salt Act from the date of commencement of production (24-09-2005).

11. The Company operates in one segment only viz., pharmaceutical formulations.

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


Jun 30, 2011

1. Capital Commitment

The estimated amount of unexecuted capital contracts (net of advances and deposits) - Rs.1282.84 lacs (Previous Year- Rs.192.27 lacs)

2. Contingent Liabilities

(a) Outstanding Bank Guarantee given to the Customs department and others Rs.835,000 /- (Previous Year - Rs.919,000/-)

(b) Outstanding Letters of Credit Rs. 6,362,000/- (Previous Year - 3,975,697/-)

3. Secured Loans

The Working capital facility of Packing Credit and Bills Discounting is secured by hypothecation of stocK in trade, receivables, and lien on deposits of the company with the Bank. The facility is also secured by first charge on the Corporate Office Building and Factory Buildings of the company and also personally guaranteed by the promoter, a Director and few shareholders of the Company.

4. Dues to Micro, Small and Medium Enterprises

The Company has not received information from Vendors regarding their status under the Micro, Small and Medium Enterprises Development Act 2006 and hence disclosure relating to amount unpaid as at the year end together with Interest Paid / Payable under this Act have not been given.

5. Balances with Scheduled banks in deposit accounts includes:

(a) Deposits under lien towards Bank Guarantee - Rs.348,586/- (Previous Year - Rs. 344,527/-)

(b) Margin on Letters of Credits outstanding - Rs.12,167,034/- (Previous Year Rs. 6,125,741/-)

(c) Retention deposit under lien towards pre shipment credit - Rs.105,656,397/- (Previous year - Rs. 91,136,230/-).

6. The Company had revalued the land, where the factory/office building is situated, during the period ended 30th June 2008 to the extent of Rs. 43,935,500/- and the gain on the revaluation of land to the extent of Rs. 37,337,799/- was credited to the Revaluation Reserve.

7. Balances of debtors, loans, advances and deposits, including items which are subject to confirmation, have, in the opinion of the management, a value on realization in the ordinary course of business at least equal to the amount at which they are stated and creditors are stated at the value which they are liable to be paid.

8. Employee Benefits

The following table sets out the status of the gratuity plan as required under AS15 and reconciliation of opening and closing balances of the present value of defined benefit obligation;

The above defined obligation liability as at the Balance Sheet date is wholly funded by the company

The estimates of future salary increases are considered in actuarial valuation taking in to account inflation, seniority, promotion and other relevant facts such as supply and demand factors in the employment market.

9. Operating Leases

The company has entered into cancelable lease agreements for office facilities, office and residential premises of employees. Lease payments recognized in the Profit & Loss Account for the year - Rs. 4,141,039/-(Previous Year - Rs. 3,722,054/-). The Company has not entered into any non cancelable operating leases and finance leases.

10.Amount Due to Investor Education and Protection fund

There are no amounts due and outstanding to be credited to investor education and protection fund. 23. Proposed Dividend

Dividend Proposed by the Board of Directors is provided in the books of accounts pending approval at the Annual General Meeting.

11. The Company's factory unit at Baddi in Himachal Pradesh is entitled for exemption under section 80IC of the Income Tax Act and also from Central Excise and Salt Act from the date of commencement of production (24-09-2005).

12.The Company operates in one segment only viz., pharmaceutical formulations.

13. Previous year figures have been regrouped wherever necessary to conform to current year's classification


Jun 30, 2010

1. Capital Commitment

The estimated amount of unexecuted capita! contracts (net of advances and deposits) - Rs. 191.27 lakhs-(Previous Year- Rs.161.97 lakhs)

2 Contingent Liabilities

(a) Outstanding Bank Guarantee given to the Customs department and others Rs.919,000 /- (Previous Year - Rs.3,784,865/-)

(b) Outstanding Letters of Credit Rs. 3,975,697/- (Previous Year - Nil)

(c) There is an income tax demand to the extent of Rs.5,708,773/- towards tax for the assess- ment year 1995-96. The Company has filed an appeal against the assessment order of Commissioner of Income Tax (Appeals) on the points of dispute with the income Tax Appel- late Tribunal which is pending.

(d) For the Assessment Year 2002-03 the loss was assessed by Assistant Commissioner of Income Tax as Rs.Nil, while the company has incurred a loss of Rs.190.93 lakhs. The Company has filed an appeal with the Commissioner of Income Tax (Appeais) against the Assessment Order of the Assistant Commissioner of Income tax which is pending.

(e) For the Assessment Year 2001-02, of erstwhile May India Laboratories Pvt Ltd (since merged with this Company), orders were received from Assistant Commissioner of income Tax with demands amounting to Rs.11.01 lakhs. The Company has filed an appeal with the Commis- sioner of Income Tax (Appeals) against the Assessment Order of the Assistant Commis- sioner of Income tax which is pending,

(f) For the Assessment Year 2002-03, of erstwhile May India Laboratories Pvt Ltd (since merged with this Company), orders were received from Assistant Commissioner of Income Tax with demands amounting to Rs.25.96 lakhs. The Company has filed an appeal with the Commis- sioner of Income Tax (Appeals) against the Assessment Order of the Assistant Commis- sioner of Income tax which is pending.

(g) For the Assessment Year 2004-05, of erstwhile May India Laboratories Pvt Ltd (since merged with this Company), orders were received from Assistant Commissioner of Income Tax with demands amounting to Rs.7.61 lakhs. The Company has filed an appeal with the Commis- sioner of Income Tax (Appeals) against the Assessment Order of the Assistant Commis- sioner of Income tax which is pending.

(h) In the Order from the Joint Commissioner of Central Excise, Puducherry in the order dated 28-04-2009 forthe period from 08-01-2005 to 31-07-2005, an amount of Rs. 4.54 lakhs has been ascertained as interest on the excise duty paid on physician samples. The Company has preferred an appeal before the Commissioner of Appeals, Central Excise, Chennai which is pending.

(i) Excise Duty receivable includes Excise Duty Rebate claim of Rs. 2,272,402/- pending with the Department of Central Excise with regard to the operations of erstwhile May (India) Labo- ratories Private Limited, the Company amalgamated with this Company with effect from 1st April 2006. The Company has filed all the evidences to the Department of Central Excise

3. Secured Loans

The Working capital facility of Packing Credit and Bills Discounting is secured by hypothecation of stock in trade, receivables, and lien on deposits of the company with the Bank. The facility is also secured by first charge on the Corporate Office Building and Factory Buildings of the company and also personally guaranteed by the promoter, a Director and few shareholders of the Company.

4. Dues to Micro, Small and Medium Enterprises

The Company has not received information from Vendors regarding their status under the Micro, Small and Medium Enterprises Development Act 2006 and hence disclosure relating to amount unpaid as at the year end together with Interest Paid / Payable under this Act have not been given.

5. Balances with Scheduled banks in deposit accounts includes:

(a) Deposits under lien towards Bank Guarantee - Rs.344,527/- (Previous Year - Rs. 991,065/-)

(b) Margin on Letters of Credits outstanding Rs.6,125,741/- (Previous Year Rs.8,036,457/-)

(c) Retention deposit under lien towards pre shipment credit - Rs 91,136,230/- (Previous year - Rs. 74,640,855/-).

6. The Company had revalued the land, where the factory/office building is situated, during the period ended 30th June 2008 to the extent of Rs. 43,935,500/- and the gain on the revaluation of land to the extent of Rs. 37,337,799/- was credited to the Revaluation Reserve.

7. Balances of debtors, loans, advances and deposits, including items which are subject to confirmation, have, in the opinion of the management, a value on realization in the ordinary course of business at least equal to the amount at which they are stated and creditors are stated at the value which they are liable to be paid.

8. Operating Leases

The company has entered into cancelable lease agreements for office facilities, office and residential premises of employees. Lease payments recognized in the Profit & Loss Account for the year - Rs. 3,722,054/- (Previous Year - Rs.3,789,090/-). The Company has not entered into any non cancelable operating leases and finance leases.

9 Amount Due to Investor Education and Protection fund

There are no amounts due and outstanding to be credited to investor education and protection fund.

10. Proposed Divided

Dividend Proposed by the Board of Directors is provided in the books of accounts pending approval attheAnnual General Meeting.

11. Disclosure in accordance with the Accounting Standard 18 - "Related Party Disclosures" issued by the Institute of Chartered Accountants of India as identified by the company and relied upon by the auditors.

(a) Related parties and nature of relationship Mr. C C Paarthipan, Chairman

Mr. Vivek Siddharth, relative of Chairman Mrs. Krishnapriya Mishra , relative of a Director Argus Salud Pharma LLP - Related Entity

(b) Key management personnel

Mr. M Jayapal - Managing Director

Mr. K Kanmani Portko - Whole Time Director **

** From 1st Jan 09 to 6th Aug 2009

12. Due to Disturbances and damages by mob to plant and stock at our Puducherry Unit, it has not been functioning since January 2008. Arising out of the closure of the unit at Puducherry, all the workers and management staffs have been settled. However, a section of the management staff have raised dispute with the labour department and the conciliation proceedings are in progress. The Company has since started restructuring its manufacturing operations at Puducherry and has recommenced its operations, subsequent to the closure of the financial year in a phased manner.

13. The Companys factory unit at Baddi in Himachal Pradesh is availing exemption under section 80IC of the Income Tax Act and also from Central Excise and Salt Act from the date of commencement of production (24-09-2005).

14. The Company operates in one segment only viz., pharmaceutical formulations.

15. Previous year figures have been regrouped wherever necessary to conform to current years classi- fication

 
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