Mar 31, 2016
1. The Companyâs operations predominantly related to providing Diagnostic Services and related business services. During the year ended March 31, 2016, there are no other reportable business segments as per AS 17 âSegment reporting".
2. Contingent Liabilities not provided for in the matter of Disputed demand for Provident Fund Rs. 5,61,368 under The Employees Provident Funds and Miscellaneous Provisions Act, 1952 relating for the period 1998-2001, which representation has been submitted before Employees Provident Fund Appellate Tribunal, New Delhi for their consideration and is currently pending for disposal.
3. RELATED PARTY DISCLOSURE
As per Accounting Standard 18, âRelated Party Disclosureâ issued by the Institute of Chartered Accountants of India, the disclosures of transactions with the related parties as defined in Accounting Standard are given below:
4. Details of related party where control exists and other related party with whom the Company had transactions and their relationships during the financial year.
5. Disclosure required by the AS-15 (Revised) - Employee Benefits.
The Company adopted the revised Accounting Standard - 15 Employee Benefits. The details of components of net benefit expenses recognized in the Profit & Loss Account with regard to gratuity and amounts recognized in the Balance Sheet are below:
6. Previous periodâs figures have been re-grouped / rearranged wherever necessary to confirm with current year classification and to facilitate meaningful comparison. Figures are rounded off to nearest rupee.
Mar 31, 2015
1. During the year under review the Company has changed the rate of
depreciating its assets on Straight Line Basis as per rates prescribed
under Companies Act, 1956, to rates based on the expected life time of
the assets and their estimated residual value at the end of the life.
The depreciation has been recalculated from the date of asset put to
use and the incremental depreciation amounting to Rs 2.45 Crores is
treated as impairment loss and depreciation for the Current financial
year is provided at the new rates of depreciation after considering the
effect of impairment as on the first day of financial year.
2. The Company is engaged in the business of Diagnostic Services and
related business. There are no other reportable business segments.
3. As per Accounting Standard 18, "Related Party Disclosure" issued
by the Institute of Chartered Accountants of India, the disclosures of
transactions with the related parties as defined in Accounting Standard
are given below:
4. Disclosure required by the AS-15 (Revised) - Employee Benefits.
The Company adopted the revised Accounting Standard  15 Employee
Benefits. The details of components of net benefit expenses recognized
in the Profit & Loss Account with regard to gratuity and amounts
recognized in the Balance Sheet are below:
5. Previous period's figures have been re-grouped / rearranged
wherever necessary to confirm with current year classification and to
facilitate meaningful comparison. Figures are rounded off to nearest
rupee.
Mar 31, 2014
1. Contingent Liabilities not provided for : As at As at
31.03.2014 31.03.2013
(Rupees) (Rupees)
Provident Fund interest demand 5,61,368 5,61,368
2. Balances of Secured Loans, Sundry Debtors and Sundry Creditors,
Loans and Advances payable or receivable are subject to confirmations
to be obtained from the parties.
3. Exceptional Items
4. During the year, Based on the proposal received from M/s. Mallya
Hospital (Managed by Chaparral Health Services Limited), a unit of the
company situated at No. 55, Infantry Road, Shivaji Nagar,
Bangalore-560001, has been sold and transferred to M/s. Mallya Hospital
(Purchaser), as-a-going-concern, on slump sale basis, together with all
its assets and liabilities on as is where is basis but excluding the
use of Medinova Brand Name with effect from 31.01.2014 (the appointed
date) for a total consideration of Rs.715.00 lakhs.
5. The company in its Board Meeting dated 18.03.2014 has approved the
sale of Bangalore unit.
6. The said sale consideration was adjusted against the amounts due to
the said company.
7. The employees of the transferred undertaking were transferred to the
Purchaser on their existing terms of employment with the company.
8. The contingent Liabilities of the transferred undertaking were also
transferred to the Purchaser as on the appointed date.
9. Post transfer of the transferred undertaking, the company''s retained
business includes the diagnostic service centres at Hyderabad, Pune,
Kolkata and a mini centre at Bansdroni (Kolkata).
10. Related Party Transactions :
As required by Accounting Standard - AS 18 "Related Party Disclosures"
issued by The Institute of Chartered Ac- countants of India, details of
transactions of related parties with whom transactions have taken place
during the year are as follows:
11. During the year, the company had entered into a Tripartite "Deed of
Assignment of Debt" with M/s. Standard Medical Pharmaceuticals Limited
(SMPL) and M/s. Harvins Constructions Private Limited (HCPL) for
assignment of Debts receivable / payable as on 31.01.2014 and
accordingly assigned the Debts receivable from M/s. SMPL with that of
the Debts payable to M/s. HCPL, for an aggregate amount of Rs.
12,35,38,622/-
12. Upon execution of the said ''Deed of Assignment of Debt'', the Call
Deposit, Advances and Accrued Interest out- standing from the Related
Party M/s. SMPL stands settled as on 31.01.2014.
13. During the year M/s. Vijaya Diagnostic Centre Private Limited had
entered into an Agreement for acquiring 27,50,220 equity shares
equivalent to 29.01% (29.16% of Voting Capital of MDSL) shareholding
from the promoter company M/s. Standard Medical & Pharmaceuticals
Limited and has made open offer for additional 26% of the Equity Shares
as mandated under Regulation 3(1) & 4 of the SEBI (SAST) Regulations,
2011. Consequently, M/s. Vijaya Diagnostic Centre Private Limited after
completion of the open offer and acquisition of shares from the
promoter company would acquire the management control and become the
promoter of the company.
14. The Company is engaged in the business of Diagnostic Services and
related business. There are no other reportable business segments.
15. There are no dues to Micro, Small & Medium Enterprises (MSME) as
at the Balance Sheet date and no interest has been paid to any such
parties. This is based on the information on such parties having been
identified on the basis of information available with the Company and
relied upon by the Auditors. Hence Trade Payables in Note No. 9
represent payable to creditors other than MSME.
16. Previous year''s figures have been regrouped / reclassified
wherever necessary to correspond with the Current year''s classification
/ disclosure.
Mar 31, 2013
1. Contingent Liabilities not provided for :
As at 31.03.2013 As at 31.03.2012
(Rupees) (Rupees)
Provident Fund interest demand 5,61,368 5,61,368
2. Managerial Remuneration:` 2012-2013 2011-2012
(Rupees) (Rupees)
Sri. N. Ravi Kumar, Manager
(Designated as Chief Operating
Officer) 2,88,000 2,82,700
3. Balances of Secured Loans, Sundry Debtors and Sundry Creditors,
Loans and Advances payable or receivable are subject to confirmations
to be obtained from the parties.
a) Disclosure regarding Loans & Advances in the nature of Loans to
subsidiaries, associates, etc., and their investments in shares of the
Company, as required under clause 32 of Listing Agreement.
4. As detailed in Note No.29, dues from M/s. Standard Medical &
Pharmaceuticals Limited represents advances in connection with spin-off
and subsequent transactions. In view of the settlement arrangement
reached with the said Company, no further interest is to be charged on
the dues w.e.f. 1st April, 2004 and the said dues are to be repaid by
the said Company in a phased manner. The company is confident of
recovery of the same and hence no provision has been made in the
accounts.
5. The Company is engaged in the business of Diagnostic Services and
related business. There are no other reportable business segments.
6. There are no dues to Micro, Small & Medium Enterprises (MSME) as
at the Balance Sheet date and no interest has been paid to any such
parties. This is based on the information on such parties having been
identified on the basis of information available with the Company and
relied upon by the Auditors. Hence Trade Payables in Note No. 8
represent payable to creditors other than MSME.
7. Previous year''s figures have been regrouped / reclassified
wherever necessary to correspond with the Current year''s classification
/ disclosure.
Mar 31, 2012
1. Balances of Secured Loans, Sundry Debtors and Sundry Creditors,
Loans and Advances payable or receivable are subject to confirmations
to be obtained from the parties.
2. Related Party Transactions :
As required by Accounting Standard - AS 18 ÃRelated Pfcrty
Disclosures issued by The Institute of Chartered Accountants of
India, details of transactions of related parties with whom
transactions have taken place during the year are as follows:
3. As detailed in Note No.29, dues from M/s. Standard Medical &
Pharmaceuticals Limited represents advances in connection with spin-off
and subsequent transactions. In view of the settlement arrangement
reached with the said Company, no further interest is to be charged on
the dues w.e.f. 1st April, 2004 and the said dues are to be repaid by
the said Company in a phased manner. The company is confident of
recovery of the same and hence no provision has been made in the
accounts.
4. The Company is engaged in the business of Diagnostic Services and
related business. There are no other reportable business segments.
5. Disclosure required by the AS-15 (Revised) - Employee Benefits.
The Company adopted the revised Accounting Standard -15 Employee
Benefits. The details of the componentstoif nefl&tiefit expenses
recognised in the profit and loss account with regard to gratuity and
amounts recognised in the Balance Sheet are given below.
6. There are no dues to Micro, Small & Medium Enterprises (MSME) as at
the Balance Sheet date and no Interest has been paid to any such
parties. This is based on the information on such parties having been
identified on the basis of Information available with the Company and
relied upon by the Auditors. Hence Trade Payables In Note No. 8
represent payable to creditors other than MSME.
Mar 31, 2011
1. Secured Loan: Working capital loan from a Scheduled Bank is secured
by hypothecation of stocks, book debts and machinery. The said loan is
further guaranteed by personal guarantee of a director of the company.
2. Contingent Liabilities not provided for :
As at 31.03.2011 As at 31.03.2010
(Rupees) (Rupees)
Provident Fund
interest demand 5,61,368 7,46,889
3. Balances of Secured Loans, Sundry Debtors and Sundry Creditors,
Loans and Advances payable or receivable are subject to confirmations
to be obtained from the parties.
4. Prior period adjustments represents interest on Income Tax
Rs.24,640/- (previous year Rs.48,870).
5. There were no dues to SSI units as at the year end.
6. As detailed in Note No.8, dues from M/s. Standard Medical &
Pharmaceuticals Limited represents advances in connection with spin-off
and subsequent transactions. In view of the settlement arrangement
reached with the said Company, no further interest is to be charged on
the dues w.e.f. 1st April, 2004 and the said dues are to be repaid by
the said Company in a phased manner. The company is confident of
recovery of the same and hence no provision has been made in the
accounts.
7. The Company is engaged in the business of Diagnostic Services and
related business. There are no other reportable business segments.
8. Computation of Earning per share is not applicable since the net
results is loss.
9. Previous year's figures have been re-grouped wherever necessary to
confirm the figures for the current year.
Mar 31, 2010
1. Liabilities relating to foreign currency buyers credit have been
guaranteed by Nationalised Banks which in turn are secured by way of
hypothecation of Machinery of the Hyderabad Diagnostic Centre and
further guaranteed by personal guarantee of one of the Directors.
2. Contingent Liabilities not provided for :
As at 31.03.2010 As at 31.03.2009
(Rupees) (Rupees)
Provident Fund interest demand 7,46,889 7,46,889
3. Balances of Secured Loans, Sundry Debtors and Sundry Creditors,
Loans and Advances payable or receivable are subject to confirmations
to be obtained from the parties.
4. There were no dues to SSI units as at the year end.
5. As detailed in Note No.8, dues from M/s. Standard Medical &
Pharmaceuticals Limited represents advances in connection with spin-off
and subsequent transactions. In view of the settlement arrangement
reached with the said Company, no further interest is to be charged on
the dues w.e.f. 1st April, 2004 and the said dues are to be repaid by
the said Company in a phased manner. The company is confident of
recovery of the same and hence no provision has been made in the
accounts.
6. The Company is engaged in the business of Diagnostic Services and
related business. There are no other reportable business segments.
7. Computation of Earning per share is not applicable since the net
results is loss.
8. Previous years figures have been re-grouped wherever necessary to
confirm the figures for the current year.
9. Information as required under Part -IV, schedule VI of the
Companies Act, 1956 is given hereunder.