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Notes to Accounts of Prism Medico and Pharmacy Ltd.

Mar 31, 2014

1. A) Contingent Liabilities:

a) Claims against the company not acknowledged as debts Nil Previous Year Nil

b) Guarantees to Banks and Financial institutions against credit Nil Previous Year Nil facilities extended to third parties

c) Other money for which the company is contingently liable Nil Previous Year Nil

B) Commitments :

i) Uncalled liability on partly paid up shares- Nil Previous Year (Nil)

ii) Estimated amount of contracts remaining to be executed on Nil Previous Year (Nil) capital accounts-

iii) Other Commitments Nil Previous Year Nil

2. In the opinion of Board of Directors & best of their knowledge & belief the provisions of all known liabilities are adequate.

3. In the opinion of Board of directors, Current Assets, Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.

4. None of the employees was in receipt of annual remuneration as prescribed under the provision of Section 217(2A) of the Companies Act, 1956.

5. Applying the principles of Accounting Standard - 22 net Deferred Tax assets has emerged. However in the absence of reasonable certainty and convincing evidence of the future taxable income, the same has not been recognized in the accounts

6. Related Party Disclosure:

As per Accounting Standard-18 issued by the Institute of Chartered Accountants of India, the Company''s related parties and transactions are disclosed below:

(A) Name of related parties and description of relationship:

(1) Key Management Personal:

a) Mr. Praneet Gautam

b) Mr. Venkatraman Chandrashekhar

(B) Transaction entered during the year with related party. NIL

7. As per information available with the company, no amount is due to any Undertaking/ Enterprise covered under the Micro, Small and Medium Enterprise Development Act, 2006.

8. The Company does not have more than one segment in line with the Accounting Standards (AS-17) - Segment Reporting issued by the institute of Chartered Accountant of the India.

9. The figures of the previous years have been regrouped and rearranged wherever it is considered necessary.


Mar 31, 2013

1. A) Contingent Liabilities:

a) Claims against the company not acknowledged as debts Nil Previous Year Nil

b) Guarantees to Banks and Financial institutions against credit facilities extended to third parties Nil Previous Year Nil

c) Other money for which the company is contingently liable Nil Previous Year Nil

B) Commitments :

i) Uncalled liability on partly paid up shares- Nil Previous Year (Nil)

ii) Estimated amount of contracts remaining to be executed on capital accounts- Nil Previous Year (Nil)

iii) Other Commitments Nil Previous Year Nil

2. In the opinion of Board of Directors & best of their knowledge & belief the provisions of all known liabilities are adequate.

3. In the opinion of Board of directors, Current Assets, Loans and Advances have a value on realization in the ordinary course of business at least equal to the amount at which they are stated.

4. None of the employees was in receipt of annual remuneration as prescribed under the provision of Section 217(2A) of the Companies Act, 1956.

5. The activities of the company do not involve conservation of energy or absorption of technology.

6. Amount due to / from the parties are subject to confirmation.

7. Applying the principles of Accounting Standard – 22 Net Deferred Tax assets has emerged. However in the absence of reasonable certainty and convincing evidence of the future taxable income, the same has not been recognized in the accounts

8. Related Party Disclosure:

As per Accounting Standard-18 issued by the Institute of Chartered Accountants of India, the Company''s related parties and transactions are disclosed below:

(A) Name of related parties and description of relationship:

(1) Key Management Personal:

a) Dr. Anand Dubey

b) Mr. Virendra N. Lal Jain

9. As per information available with the Company, no amount is due to any Undertaking/ Enterprise covered under the Micro, Small and Medium Enterprise Development Act, 2006.

10. The Company does not have more than one segment in line with the accounting standards (AS-17) – Segment Reporting issued by the institute of Chartered Accountant of the India.

11. The figures of the previous years have been regrouped and rearranged wherever it is considered necessary.


Mar 31, 2010

1. The Company is predominantly engaged in the business of investments, shares trading and financial activities and is a single segment company.

2. Related Party Disclosure

As per accounting standard 18 issued by the Institute of Chartered Accountants of India, the Companys related parties and transactions are disclosed below:

A. Name of the related parties and description of relationship: Key Management Personnel

Mr.Umesh Chamdia Mr.Praful Hande

B. Disclosure of Related Parties Transactions: Nil

3. As per information available with company, no amount is due to any undertakings Enterprises covered under the Micro, Small and Medium Enterprise Development act 2006.

4. i) Previous Year Figures have been re-arranged and regrouped wherever found necessary. ii) Previous year figures above are mentioned in the bracket.

5 Information pursuant to part IV of schedule VI to the Company act, 1956.

V. Generic name of three Products/Services of Company (as per monetary terms)

Financing and Dealing in the Shares & Securities

 
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