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Notes to Accounts of Mangalam Drugs and Organics Ltd.

Mar 31, 2015

1. Terms / Right attached to equity shares

The Company has one class of issued shares referred to as equity shares having a par value Rs 10/-each holder of equity shares is entitled to one vote per share. The dividend proposed by the board of directors, If any,is subjected to the approval of shareholders in Annual General Meeting.In the event of liqauidation of the Company the holder of the equity shares will be entitled to receive remaining assets of the Company after settlement of all preferential amount.

The distribution will be in proportion to the number of equity shares held by the equity shareholders.

2. CONTINGENT LIABILITIES:

PARTICULARS CURRENT PREVIOUS YEAR YEAR Amount in Rs Amount in Rs.

A) Performance Guarantees/ Bonds

(i) Guarantee executed in favor of Assistant Collector of Customs 17,68,867 -

(ii) Guarantee executed in favor of Export Parties. 68,300 68,300

(iii) Guarantee executed in favor of Central Excise 8,49,750 14,87,063

B) Others

(iv) Guarantee given to GSPC Gas 72,58,388 75,12,591 Co Ltd

(vi) Guarantee given to GPCB 2,00,000 7, 00,000

3. The balances in the accounts of Debtors and Creditors are as appeared in the books of account and subject to confirmation.

4. In the opinion of the Director's Current Assets, Loans and Advances, if realised in ordinary course of the business have on realisation at least the value at which they are stated in the Balance Sheet.

5. Number of employees in respect of remuneration of Rs. 60,00,000/-P. A. or more if employed throughout the financial year (or Rs. 5,00,000/- if employed for the part of the period) is NIL.

6. There are no Micro and Small Scale Business Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2015.This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

Related party disclosures as required by Accounting Standard - AS 18 "Related parties disclosures" issued by Institute of Chartered Accountants of India are given below:

A) Associate Companies and others.

* Raga Organics Private Ltd.

* Mangalam Laboratories Pvt. Ltd.

B) Key Management Personnel

* Shri Govardhan M. Dhoot

* Shri Subhash C.Khattar

* Shri Rajendraprasad K. Mimani (Resigned as Director w.e.f 02.02.2015)

* Smt Meenal Sukhani.(Appointed as Director w.e.f 21.10.2014)

* Shri Brijmohan M.Dhoot(Appointed as Director w.e.f 02.05.2015)

7. Previous year figures have been regrouped/restated wherever necessary to confirm with this periods classification.


Mar 31, 2014

Note No.1. CONTINGENT LIABILITIES:

PARTICULARS CURRENT PREVIOUS YEAR YEAR Amount in Rs Amount in Rs.

A) Performance Guarantees/ Bonds

(i) Guarantee executed in favor of Assistant Collector of Customs - 19,85,000

(ii) Guarantee executed in favor of Export Parties. 68,300 68300

(iii) Guarantee executed in favor of Central Excise 14,87,063 15,21,053

B) Others

(iv) Guarantee given to GSPC Gas Co Ltd 75,12,591 67,28,843

(vi) Guarantee given to GPCB 7, 00,000 8,00,000

Note No.2.

The balances in the accounts of Debtors and Creditors are as appeared in the books of account and subject to confirmation.

Note No.3

In the opinion of the Director''s Current Assets, Loans and Advances, if realised in ordinary course of the business have on realisation at least the value at which they are stated in the Balance Sheet.

Note No.4.

Number of employees in respect of remuneration of Rs. 60,00,000/-P. A. or more if employed throughout the financial year (or Rs. 5,00,000/- if employed for the part of the period) is NIL.

Note No.5.

There are no Micro and Small Scale Business Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2014.This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

Note No.6. Segment Information.

1. Company''s operations are predominantly related to the manufacture of bulk drugs, as such there is only one primary reportable segment. Secondary reportable segments are identified taking into account the geographical markets available to the products.

Secondary Segments – Geographical Segments

Certain assets of the company are used by different segments for different portion of the accounting period; hence the value of the assets cannot be allocated to the segments.

Note No. 7.

Related party disclosures as required by Accounting Standard – AS 18 "Related parties disclosures" issued by Institute of Chartered Accountants of India are given below:

A) Associate Companies and others.

Raga Organics Private Ltd. Mangalam Laboratories Pvt. Ltd.

B) Key Management Personnel

Shri Govardhan M. Dhoot

Shri Subhash C.Khattar

Shri Rajendraprasad K. Mimani

C) Relatives of Key Management Personnel

Shri Brijmohan M.Dhoot

Note No. 8.

Previous year figures have been regrouped/restated wherever necessary to confirm with this periods classification.


Mar 31, 2013

Note No. 1

The balances in the accounts of Debtors and Creditors are as appeared in the books of account and subject to confrmation.

Note No. 2

In the opinion of the Director''s Current Assets, Loans and Advances, if realised in ordinary course of the business have on realisation at least the value at which they are stated in the Balance Sheet.

Note No. 3

Number of employees in respect of remuneration of Rs. 60,00,000/- p.a. or more if employed throughout the fnancial year (or Rs. 5,00,000/- if employed for the part of the period) is NIL.

Note No. 4

There are no Micro and Small Scale Business Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31, 2013. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identifed on the basis of information available with the Company.

Note No. 5 SEGMENT INFORMATION

1. Company''s operations are predominantly related to the manufacture of bulk drugs, as such there is only one primary reportable segment. Secondary reportable segments are identifed taking into account the geographical markets available to the products.

Secondary Segments – Geographical Segments

Certain assets of the company are used by different segments for different portion of the accounting period; hence the value of the assets cannot be allocated to the segments.

Note No. 6

Related party disclosures as required by Accounting Standard – AS 18 "Related parties disclosures" issued by Institute of Chartered Accountants of India are given below:

A) Associate Companies and others. Raga Organics Private Ltd. Mangalam Laboratories Pvt. Ltd.

B) Key Management Personnel Shri Govardhan M. Dhoot Shri Subhash C. Khattar

Shri Rajendraprasad K. Mimani

C) Relatives of Key Management Personnel Shri Brijmohan M. Dhoot

Note No. 7

Previous year fgures have been regrouped/restated wherever necessary to confrm with this periods classifcation.


Mar 31, 2012

1. CONTINGENT LIABILITIES:



PARTICULARS CURRENT PREVIOUS YEAR YEAR Amount in Rs. Amount in Rs.

A) Performance Guarantees/ Bonds

(i) Guarantee executed in favor of Assistant Collector of Customs 19,85,000 19,85,000

(ii) Guarantee executed in favor of Export Parties. 68,300 -

(iii) Guarantee executed in favor of Central Excise 8, 83,740 8, 83,740

B) Others

(iv) Guarantee given to GSPC Gas Co Ltd_ 66,01,729 45,76,240

(v) Guarantee given to Corporate - 56,19,34,000

(vi) Guarantee given to GPCB 8,00,000 -

(vii) Guarantee given to Sale Tax (Gujarat) 2,70,869 -

2. The balances in the accounts of Debtors and Creditors are as appeared in the books of account and subject to confirmation.

3. SECURED LOANS

I) Term loan from State Bank of India, IDBI Bank and Punjab and Maharashtra Co. Op. Bank Ltd bank are secured by the way of;

- First Pari-passu charge on entire fixed assets of the company.

- Second Pari-passu charge on entire current assets of the company.

II) Working Capital Facilities from State Bank of India, IDBI Bank Ltd and Punjab and Maharashtra Co-Op. Bank Ltd. is secured by

- First charge on the entire current assets of the company on pari-passu basis

- Second charge on the entire fixed assets of the company on pari-Passu basis.

4. In the opinion of the Director's Current Assets, Loans and Advances, if realized in ordinary course of the business have on realisation at least the value at which they are stated in the Balance Sheet. *

5. Number of employees in respect of remuneration of Rs. 24,00,000/-P. A. or more if employed throughout the financial year (or Rs. 2,00,000/- if employed for the part of the period) is NIL.

6. There are no Micro and Small Scale Business Enterprises, to whom the Company owes dues, which are outstanding for more than 45 days as at March 31,2012. This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act, 2006 has been determined to the extent such parties have been identified on the basis of information available with the Company

7. Related party disclosures as required by Accounting Standard - AS 18 " Related parties disclosures" issued by Institute of Chartered Accountants of India are given below :

A) Associate Companies and others Raga Organics Private Ltd.

Mangalam Laboratories Pvt. Ltd.

B) Key Management Personnel Shri Govardhan M. Dhoot Shri Subhash C.Khattar Shri Rajendraprasad K. Mimani

C) Relatives of Key Management Personnel Shri Brijmohan M. Dhoot

c) Terms / Right attached to equity shares

The Company has one class of issued shares referred to as equity shares having a par value Rs 10/-each holder of equity shares is entitled to one vote per share. The dividend proposed by the board of directors, If any, is subjected to the approval of shareholders in Annual General Meeting. In the event of liqauidation of the Company the holder of the equity shares will be entitled to receive remaining assets of the Company after settlement of all preferential amount The distribution will be in proportion to the number of equity shares held by the equity shareholders.


Mar 31, 2010

1. CONTINGENT LIABILITIES:

PARTICULARS CURRENTYEAR PREVIOUS YEAR

Amount in Rs Amount in Rs.

A) Performance Guarantees/ Bonds

(i). Guarantee executed in favor of Assistant Collector of 20,53,300 33,04,936 Customs

(ii) Guarantee executed in favor of Export Parties. 6,26,824 7,41,500

(iii) Guarantee executed in favor of Central Excise 8,83,740 8,83,740

B) Others

(iv) Guarantee given to GSPC Gas Co Ltd 41,07,513 41,07,513

(v) Guarantee given to Corporate 56,19,34,000 56,19,34,000

2. The balances in the accounts of Debtors and Creditors are as appeared in the books of account and subject to confirmation.

3. SECURED LOANS

i) Term loan from State Bank of India and IDBI Bank are secured by the way of;

a) First Pari Passu charge on the entire fixed assets of the company.

b) Second Pari Passu charge on the entire current assets of the company.

ii) Working Capital Facilities from State Bank of India and l.D.B.I.Bank Ltd. is secured by

a) First hypothecation charge on the entire current assets of the company on pari passu basis.

b) Second charge on the entire fixed assets of the company on Pari Passu basis.

4. In the opinion of the Directors Current Assets, Loans and Advances, if realised in ordinary course of the business have on realisation at least the value at which they are stated in the Balance Sheet.

5. Number of employees in respect of remuneration of Rs. 24,00,000/-P. A. or more if employed throughout the financial year (or Rs. 2,00,000/- if employed for the part of the period) is NIL.

6. Secured Loans include Rs. 1,90,50,000/-repayable within one year.

7. There are no Micro and Small Scale Business Enterprises,to whom the Company owes dues. which are outstanding for more than 45 days as at March 31,2010.This information as required to be disclosed under the Micro, Small and Medium Enterprises Development Act,2006 has been determined to the extent such parties have been identified on the basis of information available with the Company.

8. Related party disclosures as required by Accounting Standard - AS 18 " Related parties disclosures" issued by Institute of Chartered Accountants of India are given below :

A) Associate Companies and others *

- Raga Organics Private Ltd.

- Mangalam Laboratories Pvt. Ltd.

B) Key Management Personnel

- Shri Govardhan M. Dhoot

- Shri Subhash C.Khattar

- Shri Rajendraprasad K. Mimani

C) Relatives of Key Management Personnel

- Shri Brijmohan M. Dhoot

9. Previous year figures have been regrouped/restated wherever necessary to confirm with this periods classification.

 
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