Mar 31, 2015
1. Terms/rights attached to Equity shares
(i). The Company has only one class of equity shares having a par
value of Rs.10 per share. Each holder of Equity shares is entitled to
to one vote per share.
(ii). In the event of liquidation of the company,the holder of equity
shares will be entitled to receive remaining assets of the company,
after distribution of all preferential amounts. The distribution will
be in proportion to the number of equity shares held by the
shareholders.
2. The Deposits - ICD from Aurobindo Pharma Ltd are Secured by
Hypothecation of Movable Fixed assets of the company.
3. "The Company has taken interest free unsecured loans from directors
and the relatives. Since the company is sick industry and registered
with Hon'ble Board for Industrial Financial Reconstruction as case No.
91/97, Company has accepted deposits from Directors and their
relatives.
Based on the BIFR Scheme, Company has obtained interest free loans from
the directors. Post approval of the BIFR Scheme, Unsecured loans will
be converted into Equity."
4. In the absence of the information about the "Small scale industrial
undertakings" status of its Sundry Creditors, at present the Management
is unable to quantify the amounts due to Small scale industrial
undertakings exceeding rupees one lakh which is outstanding for more
than 30 days.
5. "a. A major fire accident was broke out on 07-Jan-2015, resulting
into damage of Fixed assets of the company Management and the Insurance
company is in the process of evaluating the loss occurred due to fire.
6. Actual outcome of the Insurance claim is not ascertained and due to
lack of information loss could not be recognised in the current
financial year 2014-15. On actual receipt of the claim, loss or profit
if any, will be accounted.
7. CONTINGENT LIABILITIES:
Particulars As at As at
31st March, 15 31st March, 14
(i) Estimated Amount of Contracts
Remaining to be executed on
Capital account
and not provided for 0.00 0.00
(ii) Exported obligation 70, 00,000 70, 00,000
(iii) Claims not acknowledged as debts 92,34,353 76,14,970
8. As per accounting standards 18, the disclosures of transactions with
the related parties are given below:
9. List of related parties where control exists (KMP) with whom
transactions have taken place
Sl. No Name of the Related Party Nature of Relationship
1 V N Sunanda Reddy Key Management Personnel
2 Dr. V Sai Sudhakar Key Management Personnel
3 V Gowtham Reddy Son of VN Sunanda Reddy
4 V Sumanth Simha Son of Dr. V Sai Sudhakar
*Previous year's figures have been regrouped, recast and reclassified
where ever necessary to conform to the current year's classification.
Mar 31, 2014
1.1 The Deposits - ICD from Aurobindo Phrama Limited are Secured by
Hypothecation of Movable Fixed Assets of the Company.
1.2 The Company has taken interest free unsecured loans from directors
aggregating Rs. 5,04,44,219/- and Rs. 2,82,95,885/- from relatives of
the directors. Since the Company was sick industrial Company and
registered with Hon''ble Board for Industrial and Financial
Reconstruction as case No. 91/97, Company has accepted deposits from
Directors and their relatives to meet its financial commitments.
2.1 In the absence of the information about the "Small scale industrial
undertakings" status of its Sundry Creditors, at present the management
is unable to quantify the amounts due to small scale industrial
undertakings exceeding rupees one lakh which is outstanding for more
than 30 days.
b). CONTINGENT LIABILITIES:
As at As at
Particulars 31st March, 14 31st March, 13
(i) Estimated Amount of Contracts
Remaining Rs. Rs.
to be executed on Capital account and
not provided for 0.00 0.00
(ii) Exported obligation 70,00,000 70,00,000
(iii) Claims not acknowledged as debts 76,14,970 76,14,970
c). As per accounting standards 18, the disclosure of transactions
with the related parties are given below: (i). List of related parties
where control exists (KMP) with whom transactions have taken place
Sl. No Name of the Related Party Nature of Relationship
1 V. N. Sunanda Reddy Key Management Personnel
2 Dr. V. Sai Sudhakar Key Management Personnel
3 Dr. Jhansi Rani Venkineni Wife of Dr. Sai Sudhakar .V
4 V. Gowtham Reddy Son of V.N. Sunanda Reddy
5 V. Sumanth Simha Son of Dr. V. Sai Sudhakar
6 V. Snigdha Daughter of Dr. V. Sai Sudhakar
* Previous year''s figures have been regrouped, recost and reclassified
where ever necessary to confirm to the current year''s classification.
Mar 31, 2013
Note No. 1. Additional Information to the Financial Statements:
a). Due to Deadlock in the Management of the company during the F.Y.
2006-07, at present No statutory records pertaining to PF, ESI,
Secretarial records etc, are available in the company for the
F.Y:2012-13.
b). Deposits, Loans and advances, inoperative bank accounts, unsecured
loans and sundry creditors are subject to confirmation and
reconciliation. However necessary action in this regard is already
initiated. Pending confirmation/ reconciliation and review by the
Company, consequential adjustments arising thereon, if any are
presently are not ascertainable.
c). CONTINGENT LIABILITIES:
As at As at
Particulars 31st March, 13 31st March, 12
(i) Estimated Amount of
Contracts Remaining Rs. Rs.
to be executed on
Capital account
and not provided for 0.00 0.00
(ii) Exported obligation 70,00,000 70,00,000
(iii) Claims not
acknowledged as debts 76,14,970 76,14,970
i). During the Current Financial Year, The company has not provided for
Depreciation on its fixed assets and not made any Revenue from its
Operations and declared any dividend, since the company is sick company
under the preview of BIFR. Therefore if the depreciation would have
been provided then the Loss after depreciation and tax would be
increased to Rs. 2,63,45,0911-
Mar 31, 2012
A. Terms / rights attached to Equity shares
(i). The Company has only one classe of equity shares having a par
value of Rs. 10 per share. Each holder of Equity shares is entitled to
to one vote per share.
(ii). In the event of liquidation of the company, the holder of equity
shares will be entitled to receive remaining assets of the '' company,
after disttibution of all preferntial amounts. The distribution will be
in proportion to the number of equity shares held by the shareholders.
1.1 The Deposits - ICD from Aurobindo Phrama Limited are Secured by
Hypothecation of Movable Fixed assets of the company
1.2 The Company has taken interest free unsecured loans agrregaring Rs.
71,10,591 & Rs. 1,12,97864/-from others parties
2.1 In the absence of the information about the "Small scale industrial
undertakings" status of its Sundry Creditors, at present the Management
is unable to quantify the amounts due to Smal scale industrial
undertakings exceeding rupees one lakh which is outstanding for more
than 30 days.
3.1 Other Payables consists of Amounts payable towards Tds, Sales tax,
Excise duty, Professional tax, ESI etc
4.1 During the Current Financial Year, since the Employee statutory
records are not traceable. The Management has not provided for Gratuity
and Leave encashment, as per Actuarial valuation as per Accounting
Standard -15. The salaries and wages which were paid in part to the
Employees are recognized as Staff salary and advances, since the
salaries and wages are not provided for full value in Books of accounts
due to Court pending case. Hence Employee Statutory obligations like
PF, ESI, Professional tax are also not provided for in the books of
accounts.
4.2 Others includes Provison for Fringe Benefit Tax
5.1 Investments consists of 49,390 Equity shares in M/s Pattancheru
Enviro-Tech Ltd of Rs. 10/- each
6.1 Amount paid to the Central Excise Department, consequent to Search
Proceedings carried out by the said depart ment. The said payment is to
meet the liability, if any, to the department. Pending outcome of the
said proceedings, the payment is reflected as loans and advances in
these accounts
7.1 The Management is in the process of Confirmation and
reconciliation of balances of sundry debtors at the end of the year.
Pending confirmation of balances and reconciliation of the debtors and
the consequent impact on the profits/ Losses is not ascertained.
a) Due to Deadlock in the Management of the company during the FY:
2006-07, at present No statutory records pertaining to Finance, Central
Excise, sales and purchases, Commercial Taxes, PF, ESI, Secretarial
records etc, are available in the company for the FY : 2011-12.
b). Deposits, Loans and advances, inoperative bank accounts, unsecured
loans and sundry creditors are subject to confir- mation and
reconciliation. However necessary action in this regard is already
initiated. Pending confirmation/reconcilia- tion and review by the
Company, consequential adjustments arising thereon, if any are
presently are not ascertainable.
a). During the Current Financial Year, the company has not provided for
depreciation on its fixed assets, since the company is not a going
concern as on 31s March 2012. Depreciation has been provided in books
of accounts, the loss after tax will be increased by Rs. 1,19,98,130/-
b). 28 cases are pending against the company as on 31st March 2012.
c). Figures for the previous period have been regrouped and
reclassified wherever necessary to be in conformity with the current
period.
d). The Revised Schedule VI has become effective from 1 April, 2011 for
the preparation of financial statements. This has significantly
impacted the disclosure and presentation made in the financial
statements Previous year''s figures have been regrouped/ reclassfied
wherever necessary to correspond with the current year''s classification
/ disclosure.
Mar 31, 2011
1) Due to Deadlock in the Management of the company during the FY:
2006-07, at present No statutory records pertaining to Finance, Central
Excise, sales and purchases, Commercial Taxes, PF, ESI, Secretarial
records etc, are available in the company for the FY : 2010-11.
2) The Management is in the process of Confirmation and reconciliation
of balances of sundry debtors at the end of the year. Pending
confirmation of balances and reconciliation of the debtors and the
consequent impact on the Profits/ Losses is not ascertained.
3) During the Current Financial Year, since the Employee statutory
records are not traceable, the Management has not provided for Gratuity
and Leave encashment as per Actuarial valuation as per Accounting
Standard -15. The salaries and wages which were paid in part to the
Employees are recognized as Staff salary and advances, since the
salaries and wages are not provided for full value in Books of accounts
due to Court pending case. Hence Employee Statutory obligations like
PF, ESI, and Professional tax are also not provided for in the books of
accounts.
4). Deposits, Loans and advances, inoperative bank accounts, unsecured
loans and sundry creditors are subject to confir- mation and
reconciliation. However necessary action in this regard is already
initiated. Pending confirmation/reconcilia- tion and review by the
Company, consequential adjustments arising thereon, if any are
presently are not ascertainable.
5). In the absence of the information about the "Small scale
industrial undertakings" status of its Sundry Creditors, at present
the Management is unable to quantify the amounts due to Small scale
industrial undertakings exceeding rupees one lakh which is outstanding
for more than 30 days.
6). Leases:
The Company has no financial leases. Operating lease is in the nature
of lease of office premises with no restrictions and is renewable at
mutual concept.
7). FOREIGN EXCHANGE TRANSACTIONS:
Inflow- Nil Outflow - Nil
8). Loans and Advances includes amount paid to the Central Excise
Department, consequent to Search Proceedings car ried out by the said
department. The said payment is to meet the liability, if any, to the
department. Pending outcome of the said proceedings, the payment is
reflected as loans and advances in these accounts.
9). During the Current Financial Year, the company has not provided
for depreciation on its fixed assets, since the company is not a going
concern as on 318 March 2011 .Depreciation has been provided in books
of accounts, the loss after tax will be increased by Rs. 1,11,43,944/-
15). 28 cases are pending against the company as on 31st March 2011.
10). Figures for the previous period have been regrouped and
reclassified wherever necessary to be in conformity with the current
period.
Mar 31, 2010
1) Due to Deadlock in the Management of the company during the FY:
2006-07, at present No statutory records pertaining to Finance, Central
Excise, sales and purchases, Commercial Taxes, PF, ESI, Secretarial
records etc, are available in the company for the FY : 2009-10.
2) The Management is in the process of Confirmation and reconciliation
of balances of sundry debtors at the end of the year. Pending
confirmation of balances and reconciliation of the debtors and the
consequent impact on the Profits/ Losses is not ascertained.
3) During the Current Financial Year, since the Employee statutory
records are not traceable, the Management has not provided for Gratuity
and Leave encashment as per Actuarial valuation as per Accounting
Standard - 15. The salaries and wages which were paid in part to the
Employees are recognized as Staff salary and advances, since the
salaries and wages are not provided for full value in Books of accounts
due to Court pending case. Hence Employee Statutory obligations like
PF, ESI, and Professional tax are also not provided for in the books of
accounts.
4). Deposits, Loans and advances, inoperative bank accounts, unsecured
loans and sundry creditors are subject to confirmation and
reconciliation. However necessary action in this regard is already
initiated. Pending confirmation/reconciliation and review by the
Company, consequential adjustments arising thereon, if any are
presently are not ascertainable.
5). In the absence of the information about the "Small scale
industrial undertakings" status of its Sundry Creditors, at present
the Management is unable to quantify the amounts due to Small scale
industrial undertakings exceeding rupees one lakh which is outstanding
for more than 30 days.
6). Leases:
The Company has no financial leases. Operating lease is in the nature
of lease of office premises with no restrictions and is renewable at
mutual concept.
7). CONTINGENT LIABILITIES:
As at As at
31st March, 10 31st March, 09
Rs Rs
(i) Estimated Amount of Contracts
Remaining to be executed on
Capital account and not provided for 0.00 0.00
(ii) Exported obligation 70,00,000 70,00,000
(iii) Claims not acknowledged as
debts 76,14,970 76,14,970
8). Loans and Advances includes amount paid to the Central Excise
Department, consequent to Search Proceedings car ride out by the said
department. The said payment is to meet the liability, if any, to the
department. Pending outcome of the said proceedings, the payment is
reflected as loans and advances in these accounts.
9). During the Current Financial Year, the company has not provided
for depreciation on its fixed assets, since the company is not a going
concern as on 31st March 2010.Depreciation has been provided in books
of accounts, the loss after-tax will be increased by Rs. 1,11,93,852/-
15). 28 cases are pending against the company as on 31st March 2010.
10). Figures for the previous period have been regrouped and
reclassified wherever necessary to be in conformity with the current
period.
Mar 31, 2009
1) Due to Deadlock in the Management of the company during the FY:
2006-07, at present No statutory records pertaining to Finance, Central
Excise, sales and purchases, Commercial Taxes, PF, ESI, Secretarial
records etc, are available in the company for the FY : 2008-09.
2) The Management is in the process of Confirmation and reconciliation
of balances of sundry debtors at the end of the year. Pending
confirmation of balances and reconciliation of the debtors and the
consequent impact on the Profits/ Losses is not ascertained.
3) During the Current Financial Year, since the Employee statutory
records are not traceable, the Management has not provided for Gratuity
and Leave encashment as per Actuarial valuation as per Accounting
Standard -15. The salaries and wages which were paid in part to the
Employees are recognized as Staff salary and advances, since the
salaries and wages are not provided for full value in Books of accounts
due to Court pending case. Hence Employee Statutory obligations like
PF, ESI, and Professional tax are also not provided for in the books of
accounts.
4). Deposits, Loans and advances, inoperative bank accounts, unsecured
loans and sundry creditors are subject to confir- mation and
reconciliation. However necessary action in this regard is already
initiated. Pending confirmation/reconcilia- tion and review by the
Company, consequential adjustments arising thereon, if any are
presently are not ascertainable.
5). In the absence of the information about the "Small scale
industrial undertakings" status of its Sundry Creditors, at present
the Management is unable to quantify the amounts due to Small scale
industrial undertakings exceeding rupees one lakh which is outstanding
for more than 30 days.
6). Leases:
The Company has no financial leases. Operating lease is in the nature
of lease of office premises with no restrictions and is renewable at
mutual concept.
7). FOREIGN EXCHANGE TRANSACTIONS :
Inflow - Nil
Outflow - Nil
8). Loans and Advances includes the amount paid to the Central Excise
Department, consequent to Search Proceedings carried out by the said
department. The said payment is to meet the liability, if any, to the
department. Pending out come of the said proceedings, the payment is
reflected as loans and advances in these accounts.
9). During the Current Financial Year, the company has not provided
for depreciation on its fixed assets, since the company is not a going
concern as on 31s March 2009. Depreciation has been provided in books
of accounts, the loss aftertax will be increased by Rs. 1,17,08,475/-
15). 37 cases are pending against the company as on 31s'' March 2009.
10). Figures for the previous period have been regrouped and
reclassified wherever necessary to be in conformity with the current
period.
Mar 31, 2008
1) Due to Deadlock in the Management of the company during the FY:
2006-07, at present No statutory records pertaining to Finance, Central
Excise, sales and purchases, Commercial Taxes, PF, ESI, Secretarial
records etc, are available in the company except the Sales tax returns
for the FY : 2007-08.
2) The Management is in the process of Confirmation and reconciliation
of balances of sundry debtors at the end ofthe year. Pending
confirmation of balances and reconciliation of the debtors and the
consequent impact on the Profits/Losses is not ascertained.
3) During the Current Financial Year, since the Employee statutory
records are not traceable, the Management has provided for Gratuity and
Leave encashment on estimated basis, instead of Actuarial valuation as
per Accounting Standard - 15. The Management contributed its share
towards PF and ESI in respect of Site Security wages only. The salaries
and wages which were paid in part to the Employees are recognized as
Staff salary and advances, since the salaries and wages are not
provided for full value in Books of accounts due to Court pending case.
Hence Employee Statutory obligations like PF, ESI, and Professional tax
are also not provided for in the books of accounts.
4). Deposits, Loans and advances, inoperative bank accounts, unsecured
loans and sundry creditors are subject to confir- mation and
reconciliation. However necessary action in this regard is already
initiated. Pending confirmation/reconcilia- tion and review by the
Company, consequential adjustments arising thereon, if any are
presently are not ascertainable.
5). In the absence ofthe information about the "Small scale
industrial undertakings" status of its Sundry Creditors, at present
the Management is unable to quantify the amounts due to Small scale
industrial undertakings exceeding rupees one lakh which is outstanding
for more than 30 days.
6). Leases :
The Company has no financial leases. Operating lease is in the nature
of lease of office premises with no restrictions and is renewable at
mutual concept.
7). Loans and Advances includes a sum of Rs. 15,00,000/- paid to the
Central Excise Department, consequent to Search Proceedings carried out
by the said department. The said payment is to meet the liability, if
any, to the department. Pending outcome of the said proceedings, the
payment is reflected as loans and advances in these accounts.
8). During the Current Financial Year, the company as not provided for
depreciation on its fixed assets, since the company is not a going
concern as on 31s March 2008. Depreciation has been provided in the
books of accounts, the loss after tax will be increased by Rs.
1,27,52,939/- 16). 16 cases are against the company as on 31st March
2008.
9). Figures for the previous period have been regrouped and
reclassified wherever necessary to be in conformity with the current
period.
Mar 31, 2007
1) Due to Deadlock in the Management of the company during the FY:
2006-07, at present No statutory records pertaining to Finance, Central
Excise, sales and purchases, Commercial Taxes, PF, ESI, Secretarial
records etc, are available in the company except the Sales tax returns
for the FY : 2006-07 .
2) The Management is in the process of Confirmation and reconciliation
of balances of sundry debtors at the end of the year. The management
has recognized some of the debtors balances as Bad based on the age and
recoverability of the debtors and the same was incorporated in
financials. Pending confirmation of balances and reconciliation of the
debtors and the consequent impact on the Profits/Losses is not
ascertained.
3) During the Current Financial Year, since the Employee statutory
records are not traceable, the Management has provided for Gratuity and
Leave encashment on estimated basis, instead of Actuarial valuation as
per Accounting Standard - 15. The Management contributed its share
towards PF and ESI in respect of Site Security wages only. The salaries
and wages which were paid in part to the Employees are recognized as
Staff salary and advances, since the salaries and wages are not
provided for full value in Books of accounts due to Court pending case.
Hence Employee Statutory obligations like PF, ESI, and Professional tax
are also not provided for in the books of accounts.
4) Due to Deadlock in the Management, the Present Management of the
company is unable to ascertain the Inventory details as on 31st March
2007. Hence the Values for all those inventories are considered as
Zero. The consequential impact resulting on the accounts is ascertained
at present and effect was given to Profit and Loss statement under the
heads "Raw materials Consumed" and (Increase)/Reduction of stocks.
5). Deposits, Loans and advances, inoperative bank accounts, unsecured
loans and sundry creditors are subject to confir- mation and
reconciliation. However necessary action in this regard is already
initiated. Pending confirmation/reconcilia- tion and review by the
Company, consequential adjustments arising thereon, if any are
presently are not ascertainable.
6). In the absence of the information about the "Small scale
industrial undertakings" status of its Sundry Creditors, at present
the Management is unable to quantify the amounts due to Small scale
industrial undertakings exceeding rupees one lakh which is outstanding
for more than 30 days.
7). Prior period adjustments of Rs.43,348/- includes Service tax paid
relating to previous years is of Rs. 37,938/- and other expenses of Rs.
5410/- relating to Previous years.
8). Leases:
The Company has no financial leases. Operating lease is in the nature
of lease of office premises with no restrictions and is renewable at
mutual concept.
9). DETAILS OF PRODUCTION, TURNOVER AND STOCKS OF FINISHED GOODS
Since the absence of the Inventory records, the Management is not able
to furnish the Quantitative details about produc- tion, sales and
finished goods.
10). DETAILS OF RAW MATERIALS CONSUMED
Since the absence of the Inventory records, the Management is not able
to furnish the Quantitative details about item wise raw material
consumption.
*The Value includes the Purchase cost and Transportation cost
11). FOREIGN EXCHANGE TRANSACTIONS:
Inflow - Nil
Outflow - Nil
12). Loans and Advances includes a sum of Rs. 15,00,000/- paid to the
Central Excise Department, consequent to Search Proceedings carried out
by the said department. The said payment is to meet the liability, if
any, to the department. Pending outcome of the said proceedings, the
payment is reflected as loans and advances in these accounts
13). 13 Cases are pending against the company as on 31st March 2007.
14). Figures for the previous period have been regrouped and
reclassified wherever necessary to be in conformity with the current
period.