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Notes to Accounts of Kerala Ayurveda Ltd.

Mar 31, 2015

1. Rights, Prefrences and restrictions attached to Equity Shares:

The Company has one class of equity shares, having a par value of ' 10 each. Each shareholder is eligible for one vote per share held. In the event of liquidation, the Equity shareholders are eligible to receive the remaining assets of the company in proportion to their shareholding.

2. Related party transactions

Details of related parties:

Description of relationship Names of related parties

Holding Company Katra Holdings Ltd, Mauritius

Subsidiary Companies Ayurvedagram Heritage Wellness Centre Pvt Ltd

Nutraveda Inc, USA

Ayu Natural Medicine Clinic PS, USA

Ayurvedic Academy Inc., USA

Nutraveda Pte Ltd , Singapore

CMS Katra Holdings LLC, USA

CMS Katra Nursing LLC, USA

Companies where Director is having All Seasons Herbs Pvt. Ltd. control/significant influence Ayusante Lifecare India Pvt Ltd

Confederation for Ayurvedic Renaisance-Keralam Ptd

KAL Ayurveda Research & Education Foundation

Katra Holding Pvt. Ltd.

Katra Phytochem (India) Pvt. Ltd.

Mason & Summers Leisure Pvt. Ltd.

Director/Key Managerial Person Dr K Anil Kumar, Whole time Director

Mr S.Krishnamurthy, Independent Director

Dr. K.Rajagopalan, Independent Director

Mr M.S.Seetharaman,Additional Independent Director

Mr Arvind Agarwal , CFO

Mr K. Raghunadhan, Company Secretary

Ms Anusha Rajeswaran, Company Secretary

Relative of key Managerial Person Mrs Sunitha Anilkumar

Mrs Chithra Gopinath

Note: Related parties have been identified by the Management.

3. Contingent Liabilities Particulars

I. The company has given a bank guarantee of Rs.1,000,000/- to Health & Family Welfare Dept, Government of Kerala towards security deposit for giving permission to start one year para medical certificate course in Ayurveda Therapy.

II. The company has given a bank guarantee of Rs.500,000/- to The Registrar, Banaras Hindu University towards security deposit for setting up Kerala Ayurveda Panchakarma Center at S S Hospital under BHU.

III. The company has given a bank guarantee of Rs.90,000/- to Commissioner, Delhi Value Added Tax towards VAT registration at Delhi

IV. The company has given a bank guarantee of Rs.50,000/- to Commissioner, Delhi Value Added Tax towards F Form.

V. The company has given a bank guarantee of Rs.25,000/- to CTO ,Madanapally, Andhara Predesh Value Added Tax towards CST registration .

4. Segment results: The company is primarily engaged in Ayurvedic services and products. Accordingly there is no separae reportable segment in accordance with AS 17-Segment reporting prescribed under the Companies (Accounting Standards) Rules 2006.

5. Previous year figures have been re-grouped / re-classified wherever necessary to correspond with the current year classification/Disclosure.

6. During the year, the company has changed the depreciation policy as per the Schedule II of the The Companies Act 2013 and depreciation is provided over the useful life of the asset. Prior to the this, the company was following SLM method as per the Companies Act 1956. Due to the change in policy, the depreciation of Rs.73,31,115/- has been adjusted to the opening retained earnings.


Mar 31, 2014

1. Rights, Preffences and restrictions attached to Equity shares:

The Company has one class of equity shares, having a par value of Rs. 10 each. Each shareholder is digitate for one vote per share hetd. In the event of liquidation, the Equity shareholders are eligible to recehe the remaining assets of the company in proportion to their share holding.

2. Related party transactions

Details of related parties:

Description of relationship Names of related parties

Holding Company Katra Holdings Ltd, Mauritius

Subsidiary Companies Ayurvedagram Heritage Wellness Centre Pvt ud

Ayu Inc, USA

Ayu Natural Medicine Clinic PS, USA

Ayurvedic Academy Inc., USA

Nuiavcda Pic l td

CMS Katra Holdings U£, USA

CMS Katra Nursing LLC, USA

Associates

All Seasons Herbs Pvt. Ltd,

Arudrar-3 Developments Pvt, ltd.

Asha Medical foundation Pvt, ltd.

Global AgnSystcm Pvt. Ltd. 6 its Subsidiaries

KAL Ayurveda Research Foundation

Katra Holding Pvt. Ltd.

Katra Marine Pvt. Ltd.

Katra Phytochem Indio Pvt. lTD & its Subsidiaries Mason & Summers Atcobev Pvt. Ltd & its Subsidiaries Mason B SummerS Leisure Pvt. Ud.

Managerial Person-Director

Dr K Anil Kumar

Relative of key Managerial Person

Mrs Sunttha Anilkumar Mrs Chlthra Goptnnth

3. Contingent Liabilities

Particulars

1. The company has given a Corporate Guarantee of Rs. 5 Crorcs to Ratnakar Bank Ltd towards the credit facilities availed by subsidiary company M/s.Ayurvedagram Heritage Wellness Centre Pvt Ltd.

2. The company has given a bank guarantee of T 10 00 Lacs to Health & Family Welfare Dept, Government of Kerala towards security deposit for giving permission to start one year para medical certificate course in Ayurveda Therapy.

3. The company has given a bank guarantee of Rs. 5.00 Lacs to The Registrar, Banaras Hindu University towards security deposit for setting up Kerala Ayurveda Panchakarma Center at S 5 Hospital under BHU

4. The company has given a bank guarantee of Rs. 0.90 Lacs to Commissioner, Delhi Value Added Tax towards VAT registration at Delhi

5. The company has given a bank guarantee of T 0.50 Lacs to Commissioner. Delhi Value Added Tax towards Issue of F Form.

4. Segment results: The company Is primarily engaged in Ayurvedic services and products. Accordingly there tt no separae -oportablc segment m accordance with AS 17-Scgmcnt reporting prescribed under the Companies (Accounting Standards) Rules 2006.

5 Previous year figures have been re grouped / re-classified wherever necessary to correspond with the current year classthcatton/Olsclosure.


Mar 31, 2013

1 Contingent Liabilities

I. Company has given a corporate guarantee of Rs..50,000,000/- to Ratnakar Bank Ltd., towards the Credit facilities availed by subsidiary company M/s Ayurvedagram Heritage Wellness Centre Pvt. Ltd.

II. Company has given a corporate guarantee of Rs. 50,000,900/- to Axis Bank Ltd., towards the Credit facilities availed by subsidiary company M/s Ayurvedagram Heritage Wellness Centre Pvt. Ltd.

III. The company has given a bank guarantee ofRs.. 1,000,000/- to Health & Family Welfare Dept, Government of Kerala towards security deposit tor giving permission to start one year para medical certificate course in Ayurveda Therapy.

IV. The company has given a bank guarantee of Rs..500,000/- to The Registrar, Banaras Hindu University towards security deposit for setting up Kerala Ayurveda Panchakai ma Center at S S Hospital at BHU.

V. The company has given a bank guarantee of X. 100,000/- to Commissioner, Indian Medicine and Homeopathy, Chennai-106

VI. The company has given a bank guarantee of Rs..90,000/- to Commissioner, Delhi Value Added Tax towards VAT registration at Delhi

Vii. The company has given a bank guarantee of Rs..50,000/- to Commissioner, Deihi Value Added Tax towards issue of F Form.

2 Segment results: The company is primarily engaged in Ayurvedic services and products. Accordingly there is no separae reportable segment in accordance with AS 17-Segment reporting prescribed under the Companies (Accounting Standards) Rules 2006.

3 Previous year figures have been re-grouped / re-classified wherever necessary to correspond with the current year classification/Disclosure.


Mar 31, 2012

1. Related party transactions

Details of related parties: Description of relationship Names of related parties

Holding company Katra Holding Ltd, Mauritius

subsidiary Companies Ayurvedagram Heritage wellness centre Pvt Ltd Ayu Inc, USA Ayu Natural Medicine Clinic PS, USA

Ayurvedic Academy Inc., USA

Nutraveda Pte Ltd

CMS katra Holdings LLC, USA

CMS katra Nursings LLC, USA

Associates All Seasons Herbs Pvt. Ltd. Arudrama Developments Pvt. Ltd.

Asha Medical Foundation Pvt. Ltd.

Global Agrisystem Pvt. Ltd & its Subsidiaries

Katra Holding Pvt. Ltd.

Katra Mirine Pvt. Ltd.

Katra Phylochem India Pvt.

Mason & Summers A/cobev Pvt. Ltd. & its Sudsidiaries

Mason & Summers Leisure Pvt. Ltd. Seagrow Bio-Technics India Pvt. Ltd

Managerial Person-Director Dr. K. Anil kumar

Related of key Managerial Mrs. Snitha Anilkumar Person

Mrs. Chithra Gopinath

Note: Related parties have been identified by the Management.

2. Contingent Liabilities

Particulars

I. Company has given a corporate guarantee of Rs. 60,000,000/- to Axis Bank Ltd., towards the Credit facilities availed by subsidiary company M/s Ayurvedagram Heritage Wellness Centre Pvt. Ltd.

II. Company has given a corporate guarantee of Rs. 50,000,000/- to Ratnakar Bank Ltd., toward the Credit facilities availed by subsidiary company M/s Ayurvedagram Heritage Wellness Centre Pvt, Ltd.

III. The company has given a bank guarantee of Rs. 1,000,000/- to The Ministry of Indian Affairs, office of protector General of Emigrants, New Delhi.

IV. The company has given a bank guarantee of Rs. 1,000,000/- to Health & Family Welfare Dept, Government of Kerala towards security deposit for giving permission to start one year para medical certificate in Ayurveda Therapy.

V. The company has given a bank guarantee of Rs. 90,000/- to commissioner, Delhi value Added Tax towards VAT registration at Delhi.

VI. The company has given a bank guarantee of Rs. 50,000/- to Commissioner, Delhi Value Added Tax towards F Form.

3. Segment results: The company is primarily engaged in Ayurvedic services and products. Accordingly there is no separate reportable segment in accordance with AS 17-segemnt reporting prescribed under the Companies (Accounting Standards) Rules 2006.

4. The revised schedule VI has become effective from April 2011 for the preparation of financial statements. This has significantly impacted the disclosure and presentation made in the financial statements. Pervious year figures have been re-grouped/reclassified whenever necessary to correspond with the current year classification/Disclosure.


Mar 31, 2011

A. Loans and Advance includes loan to 1220,499,07/- given to Subsidiary Companies namely, Loan to M/s Ayurvedagram Heritage Wellness Centre Pvt. Lid. 3.300,000/- towards margin money for Term loans and Advance of. Rs. 31,750,000/-, working capital loan to Ayu Inc., USA Rs. 30.069,702/- Ayurvedic Academy Inc.. USA t. 74,040.040/- and CMS Katra Holdings LLC. USA .81,319,337/-.

b. During the year the company has disposed off balance portion of its land at Poolani at Kerala and idle land at Tally Near Bangalore and the net capital gain of f. 8,108,662/- is accounted under exceptional income.

c. During the year the Company sold its rights relating to part of the software business and the profit derived on sale amounting toRs. 35.406.187/- has been accounted under exceptional Income.

d. The company has registered the balance land near Cochin International Airport which has been purchased for setting up of a Health resort protect to be managed by Its subsidiary Company M/s Ayurvedagram Heritage Wellness Centre Pvt, Ud

e. Contingent Liabilities

I. Company has given a corporate guarantee of 760,000,000/ to Axis Bank Lid., towards the Credit facilities availed by subsidiary company M/s Ayurvedagram Heritage Wellness Centre Pvt-Ltd-

II. Company has given a corporate guarantee of 7.50,000,000/- to Ratnak&r Bank Ltd., towards the Credit facilities availed by subsidiary company M/s Ayurvedagram Heritage Wellness Centre Pvt. Ltd.

III. The company has givens bank guarantee of 7 1,000,000/- to The Ministry of Indian Affairs, Office of Protector General of Immigrants, New Dalhi.

IV. The company has Gwen a bank guarantee of 7 1,000,001V- to Health & Family weltered Dept, Government of Kerala towards security deposit for giving permission id start one year Para medical certificate course in Ayurveda Therapy.

V. The company has given a bank guarantee of7.90,000/-to Commissioner. Delhi Value Added Tax towards VAT registration at Delhi.

f. Sundry Creditors Include 7 855,603/- (Previous year 7.1,406,881/-) due to Small Scale and ancillary industrial undertakings to the extant such pintos, have been identified from the available documents/ Information the names of SSI units to whom amounts due for more than 30 days are Chancellor Cartons, J K Plastics. Duropack Industries.

g. Confirmation letters have been sent to the Debtors and Creditors socking confirmation of balances, staling that in the absence at any reply the book figure will be taken as confirmed end confirmations have been received In some cases

h. The previous year figures have been re-grouped / re-classified wherever necessary.

i. Taxation

1) Provision for current tax

No provision for taxation has been made as no tax Is payable during the year under the provisions of the income Tax Act 1961

In accordance with the prior approval obtained from the Central Government, the company has entered into Contract/transactions with the company.

Company has taken on rent the premises belong to them for running of Its Hospital & Pharmacy at Aluva, Kerala


Mar 31, 2010

A. Loans and Advance includes loan of Rs. 120,900,643 given to Subsidiary Companies namely, Loan to M/s.Ayurvedagram Heritage Wellness Centre Pvt. Ltd. Rs. 3,300,000 towards margin money for Term loans and Advance of Rs. 5,600,000, Ayu Inc. Rs. 29,100,398, Ayurvedic Academy Inc. Rs. 47,393,066 and CMS Katra Holdings LLC Rs. 35,507,179.

b. During the year the company has disposed off a portion of its land at Poolani and a flat at Puttaparthy whereby the company realised a net capital gain of Rs.10,333,074.

c. The company has acquired land near Cochin International Airport for setting up of a Health resort project to be managed by its subsidiary M/s Ayurvedagram Heritage Wellness Centre Pvt. Ltd., and has completed registration formalities for a portion of the land as on 31.03.2010 and registration for the remaining land is since completed.

d. Contingent Liabilities

i) Company has given a corporate guarantee of Rs. 60,000,000/- to Axis Bank Ltd., towards the Credit facilities availed by subsidiary company M/s Ayurvedagram Heritage Wellness Centre Pvt. Ltd.

ii) The company has given a bank guarantee of Rs.1,000,000/- to The Ministry of Indian Affairs, Office of Protector General of Emigrants, New Delhi.

iii) Company has given a corporate guarantee of Rs. 50,000,000/- to Ratnakar Bank Ltd., towards the Credit facilities availed by subsidiary company M/s Ayurvedagram Heritage Wellness Centre Pvt. Ltd.

e. Sundry Creditors include Rs. 1,406,881 (Previous year Rs. 1,597,518) due to Small Scale and ancillary industrial undertakings to the extent such parties, have been identified from the available documents/ information. The names of SSI units to whom amounts due for more than 30 days are Chancellor Cartons, J K Plastics, Duropack Industries

f. Confirmation letters have been sent to the Debtors and Creditors seeking confirmation of balances, stating that in the absence of any reply the book figure will be taken as confirmed and confirmations have been received in some cases.

g. The previous year figures have been re-grouped / re-classified wherever necessary.

h. Taxation

i) Provision for current tax

No provision for taxation has been made as no tax is payable during the year under the provisions of the Income Tax Act 1961.

* Ministry of Company Affairs, Government of India vide its letter No.12/329/2006-CL.VII dated March 22, 2007 had approved the appointment of Dr. K Anilkumar as Executive Director (Technical) in accordance with Section 269 of the Companies Act, 1956 for a period of three years effective upto June 27, 2010. Thereafter his remuneration has been paid as permissible by the provisions of the companies act and as approved by the Board of Directors. The remuneration paid to him during 2009-10 is within the limits prescribed in the above said approval and Companies Act provisions.

j. Disclosure of Related Party Transaction in accordance with Accounting Standard (AS-18) "Related Party Disclosures issued by the Institute of Chartered Accountants of India:

(A) Names of the related party and nature of relationship where control exists:

Sl No Name of the Company Nature of Relationship

1 Katra Holdings Limited, Mauritius Holding Company

2 Ayurvedagram Heritage Wellness Centre Pvt. Ltd.* Subsidiary

3 Ayu Inc, USA Wholly owned Subsidiary

4 Ayu Natural Medicine Clinic PS, USA -do-

5 Ayurvedic Academy Inc.,USA -do-

6 Nutraveda Pte Ltd -do-

7 CMS Katra Holdings LLC, USA Subsidiary

8 CMS Katra Nursing LLC, USA Step down Subsidiary

(B) Other Related Parties:

Sl No Related Party Relationship

1 Dr. K.Anilkumar Key Management Personnel

2 Mrs. Sunitha Anilkumar** Relative of Key Management Personnel

3 Mrs. Chithra Gopinath** -do-

(C) Companies controlled by Directors/Relatives.

Katra Phytochem India Pvt. Ltd.

Arudrama Developments Pvt. Ltd.

Mason & Summers Alcobev Pvt. Ltd.

Mason & Summers Leisure Pvt. Ltd

All Seasons Herbs Pvt. Ltd.*

Katra Marine Pvt. Ltd.

Katra Liquor Pvt. Ltd.

Katra Holding Pvt. Ltd

Segrow Bio-Technics India Pvt. Ltd

Global AgriSystem Pvt. Ltd. & its subsidiaries

Mason & Summers Marketing Service P Ltd

* In accordance with the prior approval obtained from the Central Government, the company has entered into Contract/ transactions with these companies.

**Company has taken on rent the premises belong to them for running of its Hospital/ Pharmacy at Aluva, Kerala.

v. Generic Name of Three Principal Products/Services of company(as per monetary terms)

Item Code No. 3003.31 Product Description : Ayurvedic Classical medicines

Item Code No. 3003.31 Product Description : Ayurvedic Patent Medicines

Item Code No. Product Description : Ayurvedic Treatment and Health Service

 
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