Home  »  Company  »  Hemo Organic  »  Quotes  »  Notes to Account
Enter the first few characters of Company and click 'Go'

Notes to Accounts of Hemo Organic Ltd.

Mar 31, 2015

1. The Company has only one class of equity share having par value of Rs. 10 per share. Each holder of equity share is entitle to one vote per share. In the event of liquidation of the Company, the holder of the equity share will be entitle to receive remaining assets of the Company. The distribution will be in proportion to the number of equity shares held by the share holders.

2. RELATED PARTY DISCLOSURE

Related Party disclosure as required by AS-18, are given below:

I Relationship:

a Subsidiary of the Company Nil

b Associates and Joint Ventures Nil

c Individual having control / Dr. Dinesh S. Patel ( Managing significant influence Director)

d Key Managerial Personnel Dr. Dinesh S. Patel ( Managing Director) & Relative thereof

Mrs. Sonal D. Patel ( Managing Director)

e Enterprises over which Nil (c), (d] & (e) above have

3. As The Company's business activity, in the opinion of the management, falls within a single primary segment subject to the same risk and return, the disclosure requirement of Accounting Standard AS-17 "Segment Reporting" issued by the Institute of Chartered Accountants of India are not applicable.

4. CONTINGENT LIABILITIES AND COMMITMENTS 31.03.2015 31.03.2014

i Contingent Liabilities

a Claims against the Company/disputes & - - liabilities

b Guarantee - -

c Letter of Credit - -

ii Commitments

a Estimated amt. of contract remaining to be executed on capital - -

b Other commitments - -

5. The Company has accumalated losses and its Networth has been substantially eroded. Furthure the Company has incurrred a net cash loss during the current year. However the accounts are prepared on going concern basis.

6. PREVIOUS YEAR FIGURES

Previous year figures are regrouped, rearranged and recast wherever required to make them comparable with those of year under review.

7. Notes 1 to 31 form an integral part of the financial statements.

HEMO ORGANIC LIMITED (formerly known as Dinesh Allorga Limited)


Mar 31, 2013

1.1Secured by hypothecation of all machineries & equipments purchased out of bank finance & further secured by quitable mortgage of a residential plot R S no.1240/5 situated At: Jitodia Ta- Dist:Anand admeasuring 11.5 gunthas in the name of Shri Ashwinbhai R. Patel & personal guarantee of Dr Dinesh S.Patel Chairman & Managing Director, Sonal D. Patel Director, & Ashwinbhai R. Patel.

Note 2 Related Party Disclosure: Related Party disclosure as required by AS-18, are given below: I) Relationship:

a) Subsidiary of the Company: -Nil

b) Associates and Joint Ventures: -Nil

c) Individual having control / significant influence -Mr. Dr.Dinesh Patel (Managing Director)

d) Key Managerial Personnel - Mr.Dr.DineshS. Patel (Managing Director)

e) Relatives of Key Managerial Personnel -Sonal D. Patel (Spouse)

f) Enterprises over which (c), (d) & (e) above have significant influence : -Nil

Note 3

As The Company''s business activity, in the opinion of the management, falls within a single primary segment subject to the same risk and return, the disclosure requirement of Accounting Standard AS-17 “Segment Reporting'' issued by the Institute of Chartered Accountants of India are not applicable.

Note 4

CONTINGENT LIABILITIES AND COMMITMENTS

2012-13 2011-12

(i) Contingent Liabilities

(a) Claims against the ---- ----

Company/disputes & liabilities not acknowledge against debt

(b) Guarantee ---- ----

(II) Commitments

(a) Estimated amt. of contract ---- ---- remaining to be excecuted oncapital advance (b) Other commitments ---- ----


Mar 31, 2012

1.1 Secured by hypothecation of all machineries & equipments purchased out of bank finance & further secured by quitable mortgage of a residential plot R S no.1240/5 situated At: Jitodia Ta- Dist:Anand admeasuring 11.5 gunthasIn the name of Shri Ashwinbhai R. Patel& personal guarantee of Dr Dinesh S.Patel Chairman & Managing Director,Sonal D. Patel Director, & Ashwinbhai R. Patel.

2.1 Working capital loans are secured by hypothecation of present and future stock of raw materials, stock-in-process, finished goods, stores and spares (not relating to plant and machinery), book debts& it is further secured by regesterd mortagae of factory land & building situated at village :Lunej Ta: Cambay R S no.328/1 admeasuring 8925 Sq.mtrs. & personal guarantee of Dr Dinesh S.Patel Chairman & Managing Director, Sonal D. Patel Director, & Ashwinbhai R. Patel.

Note 3 Related Party Disclosure

Related Party disclosure as required by AS-18, are given below:

I) Relationship:

a) Subsidiary of the Company

-Nil

b) Associates and Joint Ventures

- Nil

c) Individual having control / significant influence

- Mr. Dr.Dinesh Patel (Managing Director)

d) Key Managerial Personnel

- Mr.Dr.DineshS. Patel (Managing Director)

e) Relatives of Key Managerial Personnel

-Sonal D. Patel (Spouse)

f) Enterprises over which (c), (d) & (e) above have significant influence

- Nil

III) Disclosure in Respect of Material Related Party Transactions during the year

1. Loan & Advance given during the year to Dinesh Allorga Ltd. Rs.3,96,709 (Previous Year Rs. 59,525)

2. Payment to key Management Personal includes to Dr Dinesh S. Patel Rs. 2,12,500.(Previous Year Nil)

3. Payment to Relatives includes to Sonal D. Patel Rs.2,13,000 (Previous year Nil)

Note 4

As The Company's business activity, in the opinion of the management, falls within a single primary segment subject to the same risk and return, the disclosure requirement of Accounting Standard AS-17 "Segment Reporting" issued by the Institute of Chartered Accountants of India are not applicable.

Note 5

CONTINGENT LIABILITIES AND COMMITMENTS

2011-12 2010-11

(i) Contingent Liabilities

(a) Claims against the - - Company/disputes & liabilities not acknowledge against debt

(b) Guarantee - -

(II) Commitments

(a) Estimated amt. of contract - - remaining to be excecuted on capital advance

(b) Other commitments - -

Note 6 Previous Year Figures

During the year ended 31st March, 2012, the Revised Schedule VI notified under The Companies Act, 1956 has become applicable to the company for preparation and presentation of its financial statement. The adoption of revised Schedule VI dose not impact recognition and measurement principles followed for preparation of financial statements. However, it has significant impact on presentation and disclosure made in the financial statement. The company has also reclassified the previous year figure in accordance with the requirement applicable in the current year. In view of this reclassification, certain figures of current year are not strictly comparable with those of the previous year.


Mar 31, 2010

1. The Previous years figures have been reworked,regrouped, rearranged and reclassified wherever necessary.

2. The schedules- referred to in the Balance Sheet and Profit and Loss Account form an integral part of the accounts.

3. Contingent liabilities not provided for in respect of:

Current Year Rupees Previous Year Rupees

I Bank Guarantees Nil Nil

II Letter of Credit Nil Nil

III Claims not acknow ledged as debt: Nil Nil

4. In the opinion of the Board of Directors, the current assets, loans and advances are approximately of the value stated, if realized in the ordinary course of business except the following , which in the opinion of the board is not recoverable now, for which no provision is made in the accounts.

5. Related Party Transactions: Related Party disclosure as required by AS-18, are given below:

I) Relationship:

a) Subsidiary of the Company - Nil

b) Associates and Joint Ventures - Nil

c) Individual having control / significant influence

- Mr. Dr.Dinesh Patel (Managing Director)

- Mrs. Sonal patel ( Director)

d) Key Managerial Personnel

- Mr.Dr.Dinesh Patel (Managing Director)

- Mrs. Sonal patel (Director)

e) Relatives of Key Managerial Personnel

- Upasi Patel (Daughter of Dr. Dinesh Patel & Sonal Patel)

f) Enterprises over which (c), (d) & (e) above have significant influence > Nil

6. Segment Reporting:

As the Companys business activity, in the opinion of the management, falls within a single primary segment subject to the same risk and returns, the disclosure requirements of Accounting Standard AS- 17 "Segment Reporting" issued by the Institute of Chartered Accountants of India are not applicable.

7. There are no Micro and Small Enterprise, to whom company owes dues, which are outstanding for more then 45 days as at 31s! March, 2010. This information as required to be disclosed under the Micro, Small and Medium Enterprise Development Act (MSMED Act), 2006 has been determined to the extent such parties have been identified on the basis of information available with the company.

8. Additional information pursuant to the provisions of paragraphs 3 and 4 of Part II of Schedule VI of the Companies Act, 1956 .

(a) Particulars of Licenced and installed Capacity and Actual Production ( as certified by the management and accepted b the auditors without verification being a technical

 
Subscribe now to get personal finance updates in your inbox!