Mar 31, 2015
A) Gratuity and Leave Encashment benefits are accounted for on cash
basis. In the absence of actuarial valuation it is not possible to
quantify the amount payable on this account and its effect on Profit
and Loss of the company.
b) In opinion of Board, there is no unpaid amount due to Small Scale
Industrial Under taking and SMEs for more than45daysand also there
anointed rest paid or payable during the year towards unpaid amount or
delayed
c) Service Tax and Penalty amount of Rs. 4B,874/- paid under protest
during the year was considered as expenses on being lapse of reasonable
time for appeal. Further Rs. 44,57B/- was also paid in the same matter
to discharge the whole liability of demand order and the amount paid is
classified as "extraordinary items" in final accounts.
d) Extraordinary items and prior period items contains Rs. 16,611/-
towards PF Penalty, Rs. 1,70,82B/- towards Maintenance charges to Govt.
Agency for prior period and Rs. 93,452/- towards Service Tax as
detailed above.
e) No contract on capital account is remaining to be executed during
and at the close of the year.
f) Depreciation on fixed assets has been charged on "Straight Line
Method" on Pro-rata basis and has been realigned in accordance with
schedule II to the Companies Act, 2013. Life span of all the assets
have been recalculate and taken as per schedule II. Carrying value of
assets is now depreciated over its remaining useful life. Residual
value of the assets has been taken as Nil in case of all assets which
is also with the provisions of Schedule II. The assets of which
residual life remains nil as on 01.04.2014, the book value of these
assets has been transferred to retained earnings.
g) The Fixed assets items of which residual life remains nil as on
01.04.2014; book value of these assets has been transferred to retained
earnings. Accordingly the depreciation has been less charged by Rs.
27,80,047/- in the Profit and Loss Statement and Loss is less computed
by the same amount.
h) Plant Building construction is completed during the year and the
amount stood as Capital Work in progress which relates to Building
construction is being capitalized by transferring the amount to
Building A/c and depreciation has been charged on the addition from
current financial year.
i) other income includes sale of scrap of building to the tune of Rs.
5.79 Lacs.
j) In the opinion of the Board of Directors, the current Assets have a
value on realization in the. ordinary course of business at least equal
to the amount at which these are stated above. Provisions for known
liabilities are adequate and not in excess of the amount considered
reasonable and necessary.
k) Account statements of in-operative bank accounts held in the name of
the company are not available hence balances in such accounts subject
to confirmation. n) Disclosures as required under "Related Part
Disclosures" (AS 18) issued by The Institute of Chartered Accountants
of India are as below;
l) List of Related Parties-
i) Key Managerial Personnel (KMP)
Sheri AjayKasat - Managing Director
ShriArpitBangur - Director (Chairman)
Shri Rajesh KumarGupta - Director(independent)
Shri Vijendra Kumar Sood - Director(independent)
Shri Narendra Bahadur Singh - Director(independent)
Smt. Krishna Jajoo - Additional Director
ii) Bodies Corporate
M/s Famous Vanijya Pvt. Ltd. - Director Shri Rajesh Gupta is a Director
M/s Shrini was Poly fabric& Pack well - Director Shri Arpit Bangur is a
Director Pvt. Ltd.
M/sArpit Plastics Pvt. Ltd. - Director Shri Arpit Bangur isa Member
M/sUjjain Security and Manpower - Director Shri N.B.Singh isa Director
Services Pvt. Ltd.
M/sShriji Polymers(l)Ltd. - Director ShriArpit Bangur along with his
relatives holds more than 2 % of Shares.
iii) Relatives of Directors (with whom transactions done during the
year).
Shri Anand Bangur, Smt. Ma ngla Bangurare the relatives of
Director Shri Arpit Bangur.
m) Balances of Sundry Debtors, Creditors and Loans &advances are
subject to confirmation.
n) Previous year figures have been rearranged/ regrouped where ever
necessary.
Mar 31, 2014
1. Gratuity and Leave Encashment benefits are accounted for on cash
basis, in the absence of actuarial valuation it is not possible to
quantify the amount payable on this account and its effect on Profit
and Loss of the company.
2. in opinion of Board, there is no unpaid amount due to Small Scale
Industrial Undertaking and SMEs for more than 45 days and also there is
no interest paid or payable during the year towards unpaid amount or
delayed payment to such enterprises.
3. Income on account of foreign exchange fluctuation is towards payment
in foreign currency to M/s Health Machinery Company Ltd. as advance
against machine purchase. Later on on cancellation of the order, the
amount was received back in foreign currency and income is booked of
Rs. 39048/- against foreign exchange fluctuation.
4. Previous year figures have been rearranged / regrouped where ever
necessary.
5. Balances of Sundry Debtors, Creditors and Loans & advances are
subject to confirmation.
6. Contingent liabilities are not provided for but disclosed, if any
by way of notes on account and will be accounted for in the year of
occurrence.
7. In the opinion of the Board of Directors, the current Assets have a
value on realization in the ordinary course of business at least equal
to the amount at which these are stated above. Provisions for known
liabilities are adequate and not in excess of the amount considered
reasonable and necessary.
8. A Liability towards services tax of Rs.22289/- along with Interest
and Penalty and late fee of late-filling of return of Rs.6000/ was
confirmed vide order of DC of Central Excise, Customs and Service Tax,
Division Pithampur Dtd. 08.09.2010 on to foe assessee. The liability is
not booked by the oompany and will be booked on actual payment basis at
the time of final disposal of the order.
9. Account statements of in-operative bank accounts held in the name
of the company are not available hence balances and transactions in
such accounts cannot be verified.
10. Significant accounting policies and practices adopted by foe Company
are disclosed in the statement annexed to these financial statements
as Annexure-1.
Mar 31, 2013
1. Gratuity and Leave Encashment benefits are accounted for on cash
basis. In the absence of actuarial valuation it is not possible to
quantify the amount payable on this account and its effect on Profit
and LosS of the company.
2. In opinion of Board, there is no unpaid amount due to Small Scale
industrial Undertaking and SMEs for more than 45 days and also there is
no interest paid or payable during the year towards unpaid amount of
Belayed payment to such enterprises.
3. Previous year figures have been rearranged / regrouped where ever
necessary,
4. BaFartcesof Sundry Debtors, Creditors and Loans & advances are
subject to confirmation.
5. Cknttrtgerrt liabilities are not provided for but disclosed, if
any by way of notes on account and will be accduhtetJ for in the year
of occurrence.
6. in the opinion of the Board of Directors, the current Assets have
a value on realization in the ordinary course of business at least
equal to the amount at which these are stated above. Provisions for
known liabftHiesare adequate and not in excess of the amount considered
reasonable and necessary.
7. Account statements of in-operative bank accounts held in the name
of the company are not available hence balances and transactions in
such accounts cannot be verified
8. BSE Reinstatement Fees of Rs. 18,25,850/- paid to BSE India Ltd.
towards revocation of suspension in Trading of Equity Shares, of the
company. The amount paid is clearly distinct from ordinary activities
of the company and are not expected to reoccur frequently or regularly,
hence the amount is shown on the face of Profit or Loss Statement as
"Extraordinary Item".
Mar 31, 2009
1. Nature of Operation and Background Raaj Medisafe India Ltd. (
hereinafter reffered to as "RMIL) is a publicly owned Company,
incorporated on September 12.1985 , registered with the Registar of
Companies, Gwalior. Its businss includes mainly manufacuring and sale
of medical disposable products.
2. Contingent Liabilities not provided for in respect of
i) Bank Guarantee Nil Nil
ii) Bills Discounted from Bank Nil Nil
iii) Demand/Show Cause Notices from
Excise/Custom/ Sales Tax Dept. etc.
which are disputed 5691815 5168271
& pending before appeallate
authorities.
iv) Letter of Credit Nil Nil
3. Claim against the Company not
acknowleded as debts. 2644434 2644434
4. The provision for Gratuity has been made on accrual basis and the
provision for Bonus has been made as per provisions of Payment of Bonus
Act. 1965.
5. On account of accumulated carried forward losses under the Income
Tax Act, 19(51 and rules made thereunder there is no income tax
liablilites for the year.
(a) Provision for Current Taxation is made as per U/s 115JB (MAT) of
Income Tax Act, 1961.
6. Additional informations pursuant to Provisions of part II of
Schedule VI to the Companies Act, 1956, to the extent relevant.
7. In accordance with Accounting standard (AS) -22 on "Accounting for
taxes on Income" issued by the Institute of Chartered Accountants of
India (ICAI), the Company has deferred tax asset. The company has been
reporting a negative income over the last few years. Considering the
past trend and in the absence of reasonable certainty that sufficient
future taxable income would be available against which deferred tax
assets would be realised, the company has decided not to account for
deferred tax asset. The same is also in accordance with AS-22 issued by
ICAI.
8. The Company does not have seperate segements that are subject to
seperate risk and returns. Hence segement wise reporting persuant to
clause 41 of the listing agreement and AS -17 issued by the ICAI is not
applicable to the Company.
9. Related Parties Disclosures in accordance with, AS-18 issued by
ICAI. Transactions with related parties
a. Name of related party and nature of relationship.
Name of related party Nature of relationship
Shri Himanshu Sharma Director
Smt. Neera Sharma Relative of Director
Ms. Nidhi Sharma Relative of Director
b. Transaction during the year
Related party Nature of Transaction Amount in Rs.
Mr. Himanshu Sharma Directors Remuneration 300600
Including Allowance &
reimbursement
Smt. Neera Sharma Salary Allowance & reimbursement 240480
Ms. Nidhi Sharma Salary & Allowance 1,20,000
10 There are no subsidary companies to the Company. The Company has not
obtained any economic benefits from its activities with the associate
Companies/firms hence provisions of AS-21 issued by ICAI are not
applicable.
11. Previous year figures have been re-grouped wherever considered
necessary.