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Notes to Accounts of Coral Laboratories Ltd.

Mar 31, 2016

A. Terms & Rights attached to equity shares:

The Company has only one class of equity shares having face value of Rs.10 each. Each shareholder of Equity share is entitled to 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.

In the event of Liquidation of the company, shareholders of the equity shares will be entitled to receive remaining assets of the company, after distribution of Preferential amount. The distribution will be in proportion to the Number of equity shares held by Shareholders.

iv The company has proposed dividend of Rs. 10,717,800/v The accounts of debtors, creditors & advances are subject to confirmation/reconciliation. The management does not expect any material difference affecting the financial statements on reconciliation/adjustments.

vi In the opinion of the board, the Current Assets, Loans and advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.

vii Figures of the previous year has been re-grouped, recast or rearranged wherever considered necessary to make them comparable with that of the current year.


Mar 31, 2015

Note 1: Company Information:

Coral Laboratories Limited is a public limited company domiciled in India and is listed on Bombay Stock Exchange (BSE). The company is engaged in manufacturing of Pharmaceutical formulations. Company''s manufacturing facilities are located at Daman and Dehradoon and corporate office is located at Mumbai.

2 Contingent liabilities and commitments (to the extent not provided for)

Particulars As at 31st March 2015 As at 31st March 2014

(i) Contingent Liabilities Nil Nil

(ii) Commitments Nil Nil

3 Related Party Disclosure

Related party Disclosures as required by AS-18," Related Party Disclosures", are given below:

A. Key Management Personnel

Name Designation

Mr. Navin B Doshi Chairman

Mr. Priyush R Dhedhi Director

Mr. K R Mehta Whole Time Director

Mr. Rajesh R Parikh Director

Mrs. Sheela Kamdar Director

B. Relatives of key management personnel and Enterprises over which key management personnel and their relatives are able to exercise significant influence are as follows:

Name Designation

Coral India Finance and Housing Ltd Significant Influence

Adore Pharmaceuticals Private Ltd Significant Influence

Mr. Chetan Navin Doshi Relative of Key Management Personnel

Mrs. Meeta Samir Sheth Relative of Key Management Personnel

4 Other Notes on Accounts

i Demand of Rs. 18.56 Lacs is raised by the Central Excise & Customs, Vadodara in pursuance of order under section 11A of Central Excise Act, 1944. The Company has preferred an appeal to the Supreme Court of India against the same.

ii Company''s Baroda Plant was not in operation.

iii Prior Period expenditure is Rs. 45,815/- (Previous year Rs. 219,532/-)

iv The company has proposed dividend of Rs. 8,931,500/-

v The accounts of debtors, creditors & advances are subject to confirmation/reconciliation. The management does not expect any material difference affecting the financial statements on reconciliation/adjustments.

vi In the opinion of the board, the Current Assets, Loans and advances have a value on realisation in the ordinary course of business atleast equal to the amount at which they are stated.

vii Figures of the previous year has been re-grouped, recast or rearranged wherever considered necessary to make them comparable with thatofthecurrentyear.


Mar 31, 2014

NOTE 1 : COMPANY INFORMATION:

Coral Laboratories Limited is a public limited company domiciled in India and is listed on Bombay Stock Exchange (BSE). The company is engaged in manufacturing of Pharmaceutical formulations. Company''s manufacturing facilities are located at Daman and Dehradoon and Corporate office is located at Mumbai.

2. Contingent liabilities and commitments (to the extent not provided for)

Particulars As at 31st March 2014 As at 31st March 2013

(i) Contingent Nil Nil Liabilities

(ii) Commitments Nil Nil

3. Other Notes on Accounts

i Demand of 18.56 Lacs is raised by the Central Excise & Customs, Vadodara in pursuance of order under section 11A of Central Excise Act, 1944. The Company has preferred an appeal to the Supreme Court of India against the same.

ii Company''s Baroda Plant was not in operation.

iii Prior Period expenditure is 219,532/- (Previous year 145,452/-)

iv The company has proposed dividend of 7,145,200/- and has transferred 6,000,000/-to general reserve.

v The accounts of debtors, creditors & advances are subject to confirmation/reconciliation. The management does not expect any material difference affecting the financial statements on reconciliation/adjustments.

vi In the opinion of the board, the Current Assets, Loans and advances have a value on realisation in the ordinary course of business atleast equal to the amount at which they are stated.

vii Kolkatta office was discontinued during the year and all the balances were transferred to respective locations.

viii Figures of the previous year has been re-grouped, recast or rearrange wherever considered necessary to make them comparable with that of the current year.


Mar 31, 2013

NOTE 1 : COMPANY INFORMATION:

Coral Laboratories Limited is a public limited company domiciled in India and is listed on Bombay Stock Exchange (BSE). The company is engaged in manufacturing of Pharmaceutical formulations. Company''s manufacturing facilities are located at Daman and Dehradun and Corporate Office is located at Mumbai.


Mar 31, 2012

NOTE 1 : COMPANY INFORMATION:

Coral Laboratories Limited is a public limited company domiciled in India and is listed on Bombay Stock Exchange (BSE). The company is engaged in manufacturing of Pharmaceutical formulations. Company's manufacturing facilities are located at Daman and Dehradun and Corporate Office is located at Mumbai.

A. Terms & Rights attached to equity shares:

The Company has only one class of equity shares having face value of Rs. 10 each. Each shareholder of Equity share is entitled to 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.

In the event of Liquidation of the company, the shareholders of the equity shares will be entiltled to receive remaining assets of the company, after distribution of Preferential amount. The distribution will be in proportion to the Number of equity shares held by Shareholders.

Security Details:

Primary Security - Secured against hypothecation of entire current assets and movable fixed assets of the company and FDR for margins. Collateral Security - Equitable mortgage of Plot No. 27 & 28, Industrial Area, Pharmacity, Selaqui, Chakrata Road, Dehradoon, Uttaranchal and Office unit located at 503, 5th floor, Dalamal House, Nariman Point, Mumbai.

Sundry creditors of Rs. 92.22 lacs are outstanding to Micro and Small Enterprises (on the basis of information available with the company). Interest if any payable on delayed payment to Micro and Small Enterprises under Micro, and Small and medium enterprises development Act., 2006 is not ascertainable.

2 Contingent liabilities and commitments (to the extent not provided for)

Particulars As at 31st March 2012 As at 31st March 2011

(i) Contingent Liabilities Nil Nil

(ii) Commitments Nil Nil

3 Other Notes on Accounts

i The Central Excise & Customs, Service Tax Cell have raised a notice for the purpose of depositing service tax for the period 16.11.1997 to 01.06.1998 for Goods Transport Operators' service provided. The Company has filed appeal against the same.

ii Demand of Rs. 18.56 Lacs is raised by the Central Excise & Customs, Vadodara in pursuance of order under section 11A of Central Excise Act, 1944. The Company has preferred an appeal to the Supreme Court of India against the same.

iii Demand of Rs. 1,74,363/- is raised by Deputy Commissioner, Dehradoon pursuant to the order passed under section 9(2) of The Sales Tax Act for FY 2007-08. The company has been advised to file the appeal against the same order before appellate authority.

iv Company's Baroda Plant was not in operation.

v Prior Period expenditure is Rs. 346,379/- (Previous year Rs. 160,841/-)

vi The company has proposed dividend of Rs. 53,58,900/- and has transferred Rs. 35,00,000/- to general reserve.

vii The accounts of debtors, creditors & advances are subject to confirmation/reconciliation. The management does not expect any material difference affecting the financial statements on reconciliation/adjustments.

viii In the opinion of the board, the Current Assets, Loans and advances have a value on realisation in the ordinary course of business atleast equal to the amount at which they are stated.

ix Financial statements have been prepared in accordance with revised schedule VI of the Company's Act. Accordingly figures of the previous year has been re-grouped, recast or rearranged wherever considered necessary to make them comparable with that of the current year.


Mar 31, 2010

1) The Central Excise & Customs, Service Tax Cell have raised a notice for the purpose of depositing service tax for the period 16.11.1997 to 01.06.1998 for Goods Transport Operators service provided. The Company has filed appeal against the same.

2) Demand of Rs. 18.56 Lacs is raised by the Central Excise & Customs, Vadodara in pursuance of order under section 11A of Central Excise Act, 1944. The Company has preferred an appeal to the Supreme Court of India against the same.

3) The Income Tax Department has raised a demand of Rs.3.81 lacs for the Assessment Year 2004-05. Income tax department has preferred an appeal in Income Tax Appellate Tribunal, Mumbai.

4) Companys Baroda Plant was not in operation.

5) Company has not included Excise Duty in stock of Raw Material and Packing Material to comply with the AS - 2. The same is reduced from purchases. However, this has no effect on the profit of the Company.

6) Capital commitment not provided for Rs Nil. (Previous Year Rs. 17.72 lacs)

7) Sundry creditors of Rs. 28.47 lacs are outstanding to Micro and Small Enterprises (on the basis of information available with the company). Interest if any payable on delayed payment to Micro and Small Enterprises under Micro, and Small and medium enterprises development Act., 2006 is not ascertainable.

8) The accounts of debtors, Creditors and Advances are subject to confirmation/ reconciliation. The management does not expect any material difference affecting the financial statements on reconciliation/adjustments.

9) In the opinion of the Board, Current Assets, Loans and Advances have a value on realisation in the ordinary course of business at least equal to the amount at which they are stated.

10) Figures of the previous year have been regrouped and/or recast wherever considered necessary.

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