Mar 31, 2015
1) Discontinued Operation
The company has discontinued its operation since 24th of February 2009
and has sold its entire asset pursuant to sale agreement with TTK
Healthcare Limited in the FY 2009-10. The company has accumulated
losses of Rs.8,48,18,197/- which is more than 50% of its net worth, and
had incurred cash losses of Rs.8,51,757/- during the financial year
2014-15 (FY 2013-14 Rs.5,98,785/-). Hence, all the assets and
liabilities are adjusted to its net realisable value.
2) Loan to Directors
Short Term loans and advances includes as amount of Rs.70,47,151/- (
amount sanctioned during the year Rs.Nil) being outstanding of loans
given to one of the directors , without obtaining the prior approval of
Central Government as per Sec.295 of erstwhile Companies Act 1956.
3) Previous year figures have been regrouped and recast to confirm with
current year classification.
Mar 31, 2014
1) Discontinued Operation
The company has discontinued its operation since 24th of February 2009
and has sold its entire asset pursuant to sale agreement with TTK
Health Care Limited in the FY 2009-10. The company has accumulated
losses of Rs.8,39,53,547/- which is more than 50% of its net worth, and
had incurred cash losses of Rs.5,98,785/- during the financial year
2013-14 (FY 2012-13 Rs.6,36,891/-). Hence, all the assets and
liabilities are adjusted to its net realisable value.
However, the company is in the process of identifying opportunities and
reviving business operations. The company is of the view that on
materialisation of the new proposals, the company would be able to turn
around and continue as a going concern.
2) Loan to Directors
During the previous year an amount of Rs.82.72 Lakh has been given to
one of the directors, Mr.Sathish as loan, for which Central Government
approval is yet to be obtained.
3) Previous year figures have been regrouped and recast to confirm with
current year classification.
Mar 31, 2013
The operations of the company were discontinued since 24.02.2009.
Sale/ Transfer of assets
Pursuant to the sale agreement with the TTK Healthcare Ltd., all the
assets were transferred in the year 2009-2010.
Loan to Directors
During the previous year an amount of Rs.57.72 Lakh has been given to
one of the directors, Mr.Sathish kumar as loan, for which Central
Government approval is yet to be obtained.
During the current year an additional loan of Rs.25 Lakh has been given
to the director. The Central Government''s approval is yet to be
obtained for the same.
Debtors written off:
During the previous year debtors amounting to Rs.19,39,067 were
considered bad and were written off to Profit and loss account.
Previous year figures have been regrouped and recast to confirm with
current year classification.
Mar 31, 2012
1. Discontinued Operation
The operations of the company were discontinued since 24.02.2009.
2. Sale / Transfer of assets
Pursuant to the sale agreement with the TTK Healthcare Ltd., all the
assets were transferred in the year 2009-2010.
3. Loan to Directors
During the period an amount of Rs.45,00,000 has been given to one of
the directors, Mr.Sathish as loan, for which Central Government
approval is yet to be obtained.
During the current year an additional loan of Rs.15,00,000 has been
given to the director. The Central Government''s approval is yet to be
obtained for the same.
4. TTK Healthcare Receivable
An amount of Rs.13,58,381 is being recoverable from TTK Healthcare Ltd.
The amount will be received subjects to the No Due Certificate by the
Income Tax Department.
5. Debtors written off:
During the year debtors amounting to Rs.19,39,067 was considered bad
and was written off to Profit and loss account.
Previous year figures have been regrouped and recast to confirm with
current year classification.