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Regency Hospitals Ltd. Notes to Accounts, Regency Hospitals Ltd. Company
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Notes to Accounts of Regency Hospitals Ltd.

Mar 31, 2015

1A. Overview:

Regency Hospital Limited ('the Company") is a Public Limited Company, established in the year 1987 providing a wide range of super specialty services in the field of Medicine. The Company is listed at Bombay Stock Exchange (BSE). The Company has its own nursing college for educating the nurses for serving and providing medical services to the Patients.The Company has one subsidiary Company Regency Lifecare (P) Limited, and two associate Companies viz HCG Regency Oncology Healthcare Pvt. Ltd. and Regency Nephrocare Pvt. Ltd.

Note : 2 Retirement Benefit Plans:

a) Defined contribution plans:

The Company makes contribution towards Provident Fund and Employees State Insurance Fund as a defined contribution retirement benefit fund for qualifying employees. Under the Scheme company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognised Rs.35,86,423/- (31st March, 2014 - Rs. 18,53,061/-) for provident fund &Employees State Insurance Fund contributions in the statement of profit and loss. The contributions payable to these plans by the Company are at the rates specified in the rules of the schemes.

b) Defined benefit plans:

The present value of the defined benefit obligation and related current service cost were measured using the projected Unit Credit Method, with actuarial valuation being carried out as on 31st March, 2015.

The disclosure in respect of defined benefit gratuity plan is based on report given by actuary as on 31st March, 2015.

Note 3 :

The Company's significant leasing arrangements are in respect of operating leases for premises (residential, office etc.). These leasing arrangements which are not non- cancellable range between 11 months and 30 years generally or longer and are usually renewable by mutual consent on mutually agreeable terms. The aggregate lease rentals payable during the year are charged as "Rent" under Note 25.

Note 4 : Details of dues due to Micro, Small and Medium Enterprises as per MSMED Act, 2006

Government of India has promulgated an Act namely The Micro, Small and Medium Enterprises Development Act, 2006 which comes into force with effect from October 2, 2006. As per the Act , the Company is required to identify the Micro, Small and Medium suppliers and pay them interest on overdue beyond the specified period irrespective of the terms agreed with the suppliers. The management has confirmed that none of the suppliers have confirmed that they are registered under the provision of the Act. In view of this, the liability of the interest and disclosure are not required to be disclosed in the financial statements.

Note 5 : Sundry Debtors, Loans and Advances:

i. Sundry Debtors represent the debt outstanding on treatment of employees of corporate clients with whom company is empanelled.

ii. In the opinion of the Board of Directors, the Current Assets, Loans and Advances are approximately of the value stated, if realised in ordinary course of business and provision for depreciation and other known liabilities is adequate.

Note 6:

Previous year figures have been reclassified /regrouped wherever necessary to correspond with the Current year's classification /disclosure.

Note 7:

These financial statements have been prepared in the format prescribed by the revised Schedule III to the Companies Act, 2013. Previous period figures have been recasted /restated to conform to the classification of the current period.


Mar 31, 2014

Other disclosures:

" The Company caters mostly to local markets and as usch there is no reportable geographical segment.

" Segments have been identified in line with the Accounting Standard -17 "Segment Reporting" taking into account the organization structure as well as differing risks and returns.

" The segment revenue, results, assets and liabilities include respective amounts identifiable to each of the segment and amounts allocated on reasonable basis.

Particulars As at As at 31st March, 31st March

Disputed demand of Customs Department (under appeal). 3,845,000 3,845,000

The Company has filed an appeal to High Court of Judicature at Allahabad. Bank Guarantee furnished to Director, CGHS, 1,500,000 1,000,000

ECHS for treatment of their employees. Corporate Guarantee given to banks in respect of 453,000,000 194,500,000

financial assistance availed by Subsidiary Company Foreign Letter of Credit for import of Medical Equipment''s --- 18,32,524

(EURO 27000) 63,40,173 (USD 124630)

(a) Related Parties with whom transactions have taken place during the year:

(i) Key Managerial Personnel (KMP) and their relatives :

(a) Dr. Atul Kapoor, Managing Director

(b) Dr. Rashmi Kapoor, Whole Time Director

(c) Mr. Anant Ram Kapoor

(d) Mr. Abhishek Kapoor

(e) Mr. Arun Kapoor

(f) Mrs. Soni Kapoor

(iii) Enterprises owned or significantly influenced by Key Managerial Personnel and their relatives:

(a) HCG Regency Oncology Healthcare Private Limited

(b) Regency Nephrocare Private Limited

(c) Regency Lifecare Private Limited

The Company''s significant leasing arrangements are in respect of operating leases for premises (residential, office etc.). These leasing arrangements which are not non- cancellable range between 11 months and 30 years generally or longer and are usually renewable by mutual consent on mutually agreeable terms. The aggregate lease rentals payable during the year are charged as "Rent" under Note 27.

With regard to certain other non cancellable operating leases for premises, the future minimum rentals are as follows:

Note 2 : Details of dues due to Micro, Small and Medium Enterprises as per MSMED Act, 2006

Government of India has promulgated an Act namely The Micro, Small and Medium Enterprises Development Act, 2006 which comes into force with effect from October 2, 2006. As per the Act, the Company is required to identify the Micro, Small and Medium suppliers and pay them interest on overdue beyond the specified period irrespective of the terms agreed with the suppliers. The management has confirmed that none of the suppliers have confirmed that they are registered under the provision of the Act. In view of this, the liability of the interest and disclosure are not required to be disclosed in the financial statements.

Note 3 : Sundry Debtors, Loans and Advances:

i. Sundry Debtors represent the debt outstanding on treatment of employees of corporate clients with whom company is empanelled.

ii. In the opinion of the Board of Directors, the Current Assets, Loans and Advances are approximately of the value stated, if realised in ordinary course of business and provision for depreciation and other known liabilities is adequate.

Previous year figures have been reclassified /regrouped wherever necessary to correspond with the Current year''s classification /disclosure.

Note 4 :

These financial statements have been prepared in the format prescribed by the revised Schedule VI to the Companies Act, 1956. Previous period figures have been recasted /restated to confirm to the classification of the current period.


Mar 31, 2013

1. Corporate Information:

Regency Hospital Limited ("the Company") is a public listed Company which provide tertiary and secondary care medical services through its two hospitals and network of satellite clinics around Kanpur. The Company has its own Nursing College for educating the nurses for serving and providing services to the patients.

Note 2: Retirement Benefit Plans:

a) Defined contribution plans:

The Company makes Provident Fund contributions to defined contribution retirement benefit plans for qualifying employees. Under the Scheme, Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognised Rs. 10,62,000/- (Rs. 5,81,043/- for 31st March, 2012) for provident fund contributions in the statement of profit and loss. The contributions payable to these plans by the Company are at the rates specified in the rules of the schemes.

b) Defined benefit plans:

The present value of the defined benefit obligation and related current service cost were measured using the projected Unit Credit Method, with actuarial valuation being carried out at 31 st March, 2013.

Note 3: The Company''s significant leasing arrangements are in respect of operating leases for premises (residential, office etc.). These leasing arrangements which are not non-cancellable range between 11 months and 30 years generally, or longer and are usually renewable by mutual consent on mutually agreeable terms. The aggregate lease rentals payable during the year are charged as "Rent" under Note 27.

Note 4: Details of dues due to Micro, Small and Medium Enterprises as per MSMED Act, 2006

Government of India has promulgated an Act namely "The Micro, Small and Medium Enterprises Development Act, 2006" which comes into force with effect from 2nd October, 2006. As per the Act, the Company is required to identify the Micro, Small and Medium suppliers and pay them interest on overdue beyond the specified period irrespective of the terms agreed with the suppliers. The management has confirmed that none of the suppliers have confirmed that they are registered under the provision of the Act. In view of this, the liability of the interest and disclosure are not required to be disclosed in the financial statements.

Note 5: Sundry Debtors, Loans and Advances:

i. Sundry Debtors represent the debt outstanding on treatment of employees of corporate clients with whom company is empanelled.

ii. In the opinion of the Board of Directors, the Current Assets, Loans and Advances are approximately of the value stated, if realised in ordinary course of business and provision for depreciation and other known liabilities is adequate.

Note 6 : Previous year figures have been reclassified /regrouped wherever necessary to correspond with the Current year''s classification/disclosure.

Note 7: These financial statements have been prepared in the format prescribed by the revised Schedule VI of the Companies Act, 1956. Previous period figures have been recasted /restated to confirm to the classification of the current period.


Mar 31, 2012

1. Corporate Information:

Regency Hospital Limited ("the Company") and its wholly owned subsidiary RHL Healthcare Private Limited (collectively referred to as the "Group") provide tertiary care medical services.

Note 2 : Retirement Benefit Plans:

a) Defined contribution plans:

The Company makes Provident Fund contributions to defined contribution retirement benefit plans for qualifying employees. Under the Scheme, Company is required to contribute a specified percentage of the payroll costs to fund the benefits. The Company recognised Rs. 5,81,043/- (March 31, 2011, Rs. 3,77,593/-) for provident fund contributions in the statement of profit and loss. The contributions payable to these plans by the Company are at the rates specified in the rules of the schemes.

b) Defined benefit plans:

The present value of the defined benefit obligation and related current service cost were measured using the projected Unit Credit Method, with actuarial valuation being carried out at March 31, 2012.

Note 3 : Contingent Liability

(In Rs.)

Particulars 2011-12 2010-11

Disputed demand of Customs Department (under appeal). The Company has filed an appeal to High Court of Judicature at Allahabad. 38,45,00,000 38,45,00,000

Estimated amount of contract not executed on Capital Account not provided for (Net of Advances) 1,43,50,000 14,00,00,000

Bank Guarantee furnished to Director, CGHS for treatment of their employees. 10,00,000 60,00,000

Foreign Letter of Credit for import of Medical Equipment's 18,32,524 3,16,42,973

(EURO27000) (US$ 713,000)

63,40,713.00

(USD124630)

Note 4 : Details of dues due to Micro, Small and Medium Enterprises as per MSMED Act, 2006 :

Government of India has promulgated an Act namely The Micro, Small and Medium Enterprises Development Act, 2006 which comes into force with effect from October 2, 2006. As per the Act, the Company is required to identify the Micro, Small and Medium suppliers and pay them interest on overdue beyond the specified period irrespective of the terms agreed with the suppliers The management has confirmed that none of the suppliers have confirmed that they are registered under the provision of the Act. In view of this, the liability of the interest and disclosure are not required to be disclosed in the financial statements.

Note 5 : Sundry Debtors, Loans and Advances:

i. Sundry Debtors represent the debt outstanding on treatment of employees of corporate clients with whom company is empanelled.

ii. In the opinion the Board of Directors, the Current Assets, Loans and Advances are approximately of the value stated, if realised in ordinary course of business and provision for depreciation and other known liabilities is adequate.

Note 6 : Previous year figures have been reclassified/regrouped wherever necessary to correspond with the Current year's classification/disclosure.

Note 7 : These financial statements have been prepared in the format prescribed by the revised Schedule VI to the Companies Act, 1956. Previous period figures have been recasted/restated to confirm to the classification of the current period.


Mar 31, 2010

A. The figures for the current year include figures of Abhirev Healthcare Private Limited (AHPL) which is amalgamated with the Company with effect from 1st April, 2009 and are therefore to that extent not comparable with those of previous year.

B. Abhirev Health Private Limited (AHPL), (the amalgamating Company) engaged in providing medical facilities, has been amalgamated with the Company. The Scheme of Amalgamation (the Scheme) was sanctioned by the Honble High Court of Judicature at Allahabad vide its order dated 22nd March, 2010. The Scheme became effective on March 30, 2010, the appointed date of the Scheme being 1st April, 2009. In accordance with the said Scheme and as per the approval of the Honble High Courts :

a) The assets, liabilities, rights and obligations of erstwhile AHPL have been transferred to and vested with the Company with effect from 1st April, 2009 and have been recorded at their respective fair values, under the purchase method of accounting for amalgamation.

b) 8,39,033 Equity Shares of Rs. 10/- each fully paid up are to be issued to the Equity Shareholders of the Amalgamating Company whose names are registered in the register of members, without payment received in cash. The Company has allotted the shares on 31st March, 2010.

c) Excess of the Book value of net assets taken over by the Company over the paid up value of Equity Shares to be issued and allotted (as referred to under (b) above of Rs. 45,80,491/- has been credited to Capital Reserve of the Company and Credit Balance of Profit & Loss Account of the Amalgamating Company has been credited to General Reserve of Company and shown under the head the Reserves & Surplus.

d) From the effective date the Authorized Share Capital will stand increased to Rs. 11.40 Lacs consisting of 1,14,00,000 Equity Shares of Rs. 10 /- each.

C. Details of Secured Loans and Security :

a. Term Loans and Working Capital limit from Bank of Baroda is secured by equitable mortgag of immov- able properties and hypothecation of movable assets including movable machinery/machinery spare tools, accessories , book debts and stocks both present and future of the Company and further guaran- teed by Managing Director and Whole time Director in their personal capacities.

b. Vehicles Loans from Kotak Mahindra Bank Limited is secured by hypothecation of specific vehicles.

D. Contingent Liabilities :-

a. Disputed demand of Customs Department (under appeal) Rs. 38.45 Lacs. The Company has filed an appeal to High Court of Judicature at Allahabad.

b. Claims against company not acknowledged as debt -Rs.NiL(Previous Year -Rs.Nil).

c. Estimated amount of contract not executed on Capital Account: Rs. Nil (Previous Year -Rs.Nil)

d. Bank Guarantee -Rs.50 Lacs furnished to Director, CGHS for treatment of their employees.

e. Fixed deposits shown under the head Cash and Bank Balances include deposits Rs.12,50,000/- (P.Y-. 12,50,000/-) pledged with the Bank of Baroda as margin to secure Guarantee issued by the Bank.

E. Sundry Debtors, Loans and Advances :-

a. Sundry Debtors represent the debt outstanding on treatment of employees of corporate clients with whom Company is empanelled.

b. In the opinion of the management, the Current Assets, Loans and Advances are approximately of the value stated, if realised in ordinary course of business and provision for depreciation and other known liabilities is adequate.

c. The Company has not received any information from its suppliers regarding registration under "Micro, Small and Medium Enterprises Development Act, 2006. Hence information required to be given in ac- cordance with Section 22 of said Act, is not ascertainable. Hence not disclosed.

(F) The Company business activity fall with in a single primary business segment viz. Health Care Services the disclosure requirement of Accounting Standard-17 on Segment Reporting issued by Institute of Chartered Accountants of India is not applicable.

(H) Based on guiding principle given in the Accounting Standard-22 on accounting for Taxes on Income issued by Institute of Chartered Accountants of India the calculation of Deferred tax asset /(liability) (net) arising on account of unabsorbed depreciation under tax laws, difference in depreciation as on date and allow liability of expenses as per Companies Act, 1956 and Income tax Law, are as under:-

(J) During the period MAT Liability have been provided which is eligible was set off in subsequent year. The same has been treated as recoverable and shown as MAT Credit entitlement.

(K) The Previous years figures have been reworked, regrouped, rearranged and reclassified wherever necessary.

Signatures to Schedules A to P forming part of Accounts for the period ended 31st March, 2010.


Mar 31, 2009

A. Details of Secured Loans and Security:

a. Term Loans and Working Capital limit from Bank of Baroda is secured by equitable mortgage of immovable properties and hypothecation of movable assets including movable machinery/machinery spare tools , accessories, book debts and stocks both present and future of the Company and further guaranteed by Managing Director and Whole time Director in their personal capacities.

b. Vehicles Loans from ICICI Bank Limited is secured by hypothecation of specific vehicles.

B. Contingent Liabilities :

a. Disputed demand of Customs Department (under appeal) Rs. 38.45 Lacs. The Company has filed an appeal to High Court of Judicature at Allahabad.

b. Claims against Company not acknowledged as debt -Rs.NiL(Previous Year -Rs.Nil).

c. Estimated amount of contract not executed on Capital Account: Rs. Nil (Previous Year -Rs.Nil)

d. Bank Guarantee -Rs.50 Lacs furnished to Director, CGHS for treatment of their employees.

e. Fixed deposits shown under the head Cash and Bank Balances include deposits Rs.12,50,000/- (P.Y- 12,50,000/-) pledged with the Bank of Baroda as margin to secure Guarantee issued by the Bank.

C. Sundry Debtors .Loans and Advances :-

a. Sundry Debtors represent the debt outstanding on treatment of employees of corporate clients with whom Company is empanelled.

b. In the opinion the Board of Directors, the Current Assets .Loans and Advances are approximately of the value stated, if realised in ordinary course of business and provision for depreciation and other known liabilities is adequate.

c. The Company has not received any information from its suppliers regarding registration under "Micro, Small and Medium Enterprises Development Act, 2006. Hence information required to be given in accordance with Section 22 of said Act, is not ascertainable .Hence not disclosed.

(D) The Company business activity fall with in a single primary business segment viz. Health Care Services the disclosure requirement of Accounting Standard 17 on Segment Reporting issued by The Institute of Chartered Accountants of India is not applicable.

(F) During the period MAT Liability have been provided which is eligible was set off in subsequent year. The same has been treated as recoverable and shown as MAT Credit entitlement.

(G) Previous period figures have been regrouped/ rearranged wherever necessary.

Signatures to Schedules A to P forming part of Accounts for the period ended 31st March,2009

 
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